SERGACO

Inactive

KBO/BCE: BE 0463.879.833

SERGACO was declared bankrupt on 10-10-2022 (Ondernemingsrechtbank Gent, afdeling Dendermonde); the bankruptcy was closed by liquidation by judgment of 05-02-2024, published in the Belgian State Gazette on 12-02-2024.

No longer registered with the KBO; last annual accounts for fiscal year 2020.

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Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Prior bankruptcy

Earlier bankruptcy on record in the Belgian State Gazette, no current open procedure.

Belgian State Gazette

No filing for years

The last filed financial year closed on 31-12-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.

NBB · 10 filings

Position against the passed deadline

31-12-2021 close31-07-2022 deadline22-09-2026 today

Filed more than 90 days late

The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 17-05-2022, 290 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

not filed

2023

not filed

2022

not filed

2021

not filed

2020

290 d late

2019

17 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2020, micro schema

Turnover

€363k▲ 593%

2018 · €52k

2018: €52k

2018 → 2019

EBIT margin

8.2%▼ 72.7pp

2018 · 80.9%

2018: 80.9%

2018 → 2019

Net result

€-13k

2019 · €19k

2018: €42k 2019: €19k

2018 → 2020

Working capital

€43k▼ 30.5%

2019 · €62k

2018: €45k 2019: €62k

2018 → 2020

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line201820192020Trend

Turnover€52k-€363k▲ 593%

Equity€45k-€64k▲ 41.3%€51k▼ 20.5%

Operating result€42k-€30k▼ 29.5%€4k▼ 87.4%

Net result€42k-€19k▼ 55.3%€-13k

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2020 is 87% below 2019 and is the lowest result in the available series.

Balance-sheet composition

2020 in colour, 2019 as the grey bar beneath

Assets €289k

97.3%

Fixed assets €8k▲ 312%

Current assets €281k▲ 102%

Equity and liabilities €289k

17.6%

82.4%

Equity €51k▼ 20.5%

Debt €238k▲ 207%

The debt ratio rises from 54.9% to 82.4%. Equity is lower and debt is higher.

Key figures and ratios

2020 value · change against 2019

EBITDA

€5k▼

2019 · €31k

Cash flow

€-12k▼

2019 · €19k

Solvency

17.6%▼

2019 · 45.1%

Current ratio

1.18▼

2019 · 1.80

Quick ratio

1.18▼

2019 · 1.80

Debt / equity

4.70

ROE

-25.7%▼

2019 · 29.2%

ROA

-4.5%▼

2019 · 13.2%

Interest coverage

0.27

Debt

€238k▲

2019 · €78k

Debt ≤ 1 year

€238k▲

2019 · €78k

Income taxes

€38▼

2019 · €6k

Staff costs

€278k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2020 against 2019

Balance sheet Code20192020

Assets

Total assets20/58€141k€289k▲

Fixed assets21/28€2k€8k▲

Tangible fixed assets22/27€2k€5k▲

Plant, machinery and equipment23-€5k

Furniture and vehicles24-€645

Financial fixed assets28-€3k

Current assets29/58€140k€281k▲

Amounts receivable within one year40/41€139k€279k▲

Trade receivables40-€226k

Other amounts receivable41-€53k

Cash at bank and in hand54/58€768€2k▲

Equity and liabilities

Total equity and liabilities10/49€141k€289k▲

Equity10/15€64k€51k▼

Contributions10/11€19k€19k=

Reserves13€2k€32k▲

Non-distributable reserves130/1-€2k

Reserves not available under the articles1311-€2k

Distributable reserves133-€30k

Profit (loss) carried forward14€43k€0▼

Amounts payable17/49€78k€238k▲

Amounts payable within one year42/48€78k€238k▲

Trade debts44€29k€177k▲

Suppliers440/4-€177k

Taxes, remuneration and social security45-€61k

Taxes450/3-€5k

Remuneration and social security454/9-€56k

Income statement Code20192020

Turnover70€363k-

Remuneration, social security and pensions62-€278k

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€790€1k▲

Other operating charges640/8-€683

Gross operating margin9900€69k€283k▲

Operating profit (loss)9901€30k€4k▼

Financial income75/76B-€1k

Recurring financial income75€1k€1k▲

Financial charges65/66B-€18k

Recurring financial charges65€7k€18k▲

Profit (loss) for the period before taxes9903€24k€-13k▼

Income taxes67/77€6k€38▼

Profit (loss) for the period9904€19k€-13k▼

Profit (loss) for the period to be appropriated9905€19k€-13k▼

Appropriation of the result

Profit (loss) to be appropriated9906-€30k

Profit (loss) brought forward from the previous period14P-€43k

Transfer to equity691/2-€30k

To other reserves6921-€30k

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Signals 2Financial 1Filings 10

2024

12-02

Bankruptcy Bankruptcy closure (by liquidation)

Ondernemingsrechtbank Gent, afdeling Dendermonde · BOUWWERKEN RUBBENS CV BRAKELSESTEENWEG 455/B, 9400 NINOVE · event 05-02-2024

2022

17-10

Bankruptcy Opening

Ondernemingsrechtbank Gent, afdeling Dendermonde · BOUWWERKEN RUBBENS CV BRAKELSESTEENWEG 455/B, 9400 NINOVE · event 10-10-2022

17-05

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 290 days late

2020

31-12

Financial Weakest financial yearnet €-13k ▼170%

Net result drops to €-13k, the lowest in the series.

14-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

19-07

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

02-07

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

28-06

NBB filing Annual accounts filed

fiscal year 2016 · micro schema

2016

30-05

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

2015

01-06

NBB filing Annual accounts filed

fiscal year 2014 · abbreviated schema

2014

10-06

NBB filing Annual accounts filed

fiscal year 2013 · abbreviated schema

2013

20-09

NBB filing Annual accounts filed

fiscal year 2012 · abbreviated schema · 51 days late

2012

11-06

NBB filing Annual accounts filed

fiscal year 2011 · abbreviated schema

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.

Location & real-estate footprint

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Insolvency mandates

1 mandate

Role	Name	Tenure
Curator	MARGA PIETERS AFFLIGEMDREEF 144, 9300 AALST- ↔ Also on 144 other cases	10-10-2022 → present