SERIAL
ActiveSummary
SERIAL has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €926,733 and a net result of €152,584. Equity is growing by about 19% per year across the filed financial years. Its solvency ranks better than 94% of 35,972 sector peers (NACE 43, financial year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Staff
- ≈ 1.1 FTE, estimated
- Equity
- €926,733
- Profit
- €152,584
- BOUMAL PierreManaging director
Why 58raises riskCapped at 59: a confirmed filing finding1 financial year not filed after the legal deadline; last filed accounts filed 122 days late; 3 of the last 3 latelowers riskFounded in 1993Equity €926,733 (90.0% of total assets)Liquidity: current ratio 9.65, cash €411,064Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 90% on solvency, 96% on liquidity, 72% on profitability and 67% on growth.
The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 6 accounts on average 75 days after the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (1)
- Annual accounts filedfinancial year 2024 · micro…
- Liquidity more than doubledcurrent ratio 9.65
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 30 October 2026.
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result has fallen two years in a row; 2024 is 6% below 2023.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 20,136 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,136 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €79,347 | €64,168 | €45,037 | €45,097 | ▲ 0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,189 | €13,419 | €11,292 | €11,192 | €6,384 | €9,612 | €7,739 | ▼ 19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€9,208 | - | - | - |
| Other operating charges640/8 | - | - | - | €38,719 | €46,560 | €27,883 | €25,834 | ▼ 7.3% |
| Gross operating margin9900 | €137,972 | €144,609 | €281,393 | €292,353 | €394,476 | €321,167 | €301,993 | ▼ 6.0% |
| Operating profit (loss)9901 | €48,415 | €39,688 | €175,878 | €163,096 | €286,572 | €238,634 | €223,322 | ▼ 6.4% |
| Financial income75/76B | - | - | - | €4,604 | €4,115 | €5,112 | €4,586 | ▼ 10.3% |
| Recurring financial income75 | €5,249 | €5,109 | €5,324 | €4,604 | €4,115 | €5,112 | €4,586 | ▼ 10.3% |
| Financial charges65/66B | - | - | - | €19,368 | €15,531 | €17,918 | €8,669 | ▼ 51.6% |
| Recurring financial charges65 | €14,055 | €15,452 | €17,371 | €19,368 | €15,531 | €17,918 | €8,669 | ▼ 51.6% |
| Profit (loss) for the period before taxes9903 | €39,609 | €29,345 | €163,831 | €148,331 | €275,156 | €225,828 | €219,240 | ▼ 2.9% |
| Income taxes67/77 | €11,571 | €11,975 | €50,113 | €45,156 | €93,928 | €68,122 | €66,656 | ▼ 2.2% |
| Profit (loss) for the period9904 | €28,038 | €17,370 | €113,718 | €103,176 | €181,228 | €157,707 | €152,584 | ▼ 3.2% |
| Profit (loss) for the period to be appropriated9905 | €28,038 | €17,370 | €113,718 | €103,176 | €181,228 | €157,707 | €152,584 | ▼ 3.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.5m | €0.5m | €0.9m | €0.9m | €0.9m | €1.0m | €1.0m | ▼ 1.8% |
| Fixed assets21/28 | €0.07m | €0.06m | €0.05m | €0.04m | €0.05m | €0.04m | €0.04m | ▼ 10.2% |
| Tangible fixed assets22/27 | €0.07m | €0.06m | €0.05m | €0.04m | €0.05m | €0.04m | €0.04m | ▼ 10.2% |
| Land and buildings22 | - | - | - | €0.04m | €0.03m | €0.03m | €0.02m | ▼ 12.9% |
| Plant, machinery and equipment23 | - | - | - | €0 | - | - | €0.001m | - |
| Furniture and vehicles24 | - | - | - | €0.005m | €0.01m | €0.01m | €0.01m | ▼ 14.1% |
| Financial fixed assets28 | €26 | €26 | €26 | €26 | €26 | €26 | €26 | = |
| Current assets29/58 | €0.5m | €0.5m | €0.8m | €0.8m | €0.9m | €1.0m | €1.0m | ▼ 1.4% |
| Amounts receivable after more than one year29 | - | - | - | €0.07m | €0.03m | - | - | - |
| Other amounts receivable291 | - | - | - | €0.07m | €0.03m | - | - | - |
| Stocks and contracts in progress3 | €0.2m | €0.3m | €0.3m | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 7.7% |
| Stocks30/36 | - | - | - | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 7.7% |
| Amounts receivable within one year40/41 | €0.08m | €0.07m | €0.1m | €0.2m | €0.09m | €0.2m | €0.3m | ▲ 12.0% |
| Trade receivables40 | - | - | - | €0.2m | €0.07m | €0.2m | €0.2m | ▲ 3.3% |
| Other amounts receivable41 | - | - | - | €0.001m | €0.02m | €0.05m | €0.07m | ▲ 48.8% |
| Cash at bank and in hand54/58 | €0.04m | €0.007m | €0.2m | €0.1m | €0.3m | €0.4m | €0.4m | ▲ 2.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.03m | €0.04m | €0.009m | ▼ 76.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.5m | €0.5m | €0.9m | €0.9m | €0.9m | €1.0m | €1.0m | ▼ 1.8% |
| Equity10/15 | €0.4m | €0.4m | €0.4m | €0.5m | €0.6m | €0.8m | €0.9m | ▲ 19.7% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.3m | €0.3m | €0.4m | €0.4m | €0.6m | €0.7m | €0.9m | ▲ 21.4% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.5m | €0.6m | €0.8m | ▲ 23.8% |
| Amounts payable17/49 | €0.2m | €0.1m | €0.4m | €0.4m | €0.3m | €0.3m | €0.1m | ▼ 62.5% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.4m | €0.4m | €0.3m | €0.3m | €0.1m | ▼ 62.5% |
| Financial debts43 | - | - | - | €487 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €487 | - | - | - | - |
| Trade debts44 | €0.1m | €0.07m | €0.3m | €0.2m | €0.1m | €0.09m | €0.04m | ▼ 58.5% |
| Suppliers440/4 | - | - | - | €0.2m | €0.1m | €0.09m | €0.04m | ▼ 58.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.2m | €0.07m | ▼ 58.0% |
| Taxes450/3 | - | - | - | €0.1m | €0.09m | €0.1m | €0.05m | ▼ 61.8% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 34.1% |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.03m | €0.03m | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,038 | €17,370 | €113,718 | €103,176 | €181,228 | €157,707 | €152,584 | ▼ 3.2% |
| + Depreciation and write-downs630 | €11,189 | €13,419 | €11,292 | €11,192 | €6,384 | €9,612 | €7,739 | ▼ 19.5% |
| Operating cash flow (approximation) | €39,228 | €30,789 | €125,010 | €114,367 | €187,613 | €167,319 | €160,323 | ▼ 4.2% |
| Investment in fixed assets (approximation) | - | -€9,478 | €0 | €0 | -€11,540 | -€6,792 | -€3,391 | ▲ 50.1% |
| Change in cash | - | -€30,053 | €197,132 | -€87,353 | €214,897 | €68,323 | €11,543 | ▼ 83.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | micro format | 30-11-2025 | 2025-00573185 |
| 31-12-2023 | micro format | 03-10-2024 | 2024-00494609 |
| 31-12-2022 | micro format | 30-09-2023 | 2023-00468605 |
| 31-12-2021 | micro format | 16-11-2022 | 2022-20521693 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-62800566 |
| 31-12-2019 | micro format | 04-10-2020 | 2020-58800090 |
| 31-12-2018 | micro format | 31-08-2019 | 2019-62700365 |
| 31-12-2017 | full format | 03-10-2018 | 2018-67700352 |
| 31-12-2016 | full format | 15-09-2017 | 2017-61700368 |
| 31-12-2015 | full format | 16-09-2016 | 2016-60600484 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Day-to-day management 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| BOUMAL Pierre |
|
| MARÉCHAL Pierre Joseph Denis Ghislain |
|
Owners and capital
Capital and shareholders
- 13-12-2023 Capital stated in the deed · €62,000 · 2,500 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
13-12
Gazette deed
Resignations: MARÉCHAL Pierre Joseph Denis Ghislain (director) and BOUMAL Pierre (director)Appointment: BOUMAL Pierre (sole director) · Reappointment: BOUMAL Pierre (administrateur délégué non statutaire) · Board rule9 facts ▸
- General meeting, 04-12-2023
- Board rule, “prévoir dans les statuts la possibilité d’être administrée de deux manières, Première résolution” (deed in French)
- Amendment of the articles (2 times)
- Capital, “euros 62.000” (deed in French)
- Director resignation, MARÉCHAL Pierre Joseph Denis Ghislain (director)
- Director resignation, BOUMAL Pierre (director)
- Director appointment, BOUMAL Pierre (sole director)
- Director reappointment, BOUMAL Pierre (administrateur délégué non statutaire)
- Registered office clause, “4020 Liège,Clos des Mésanges 19, assemblée générale” (deed in French)
Show earlier events
About the unread acts
Of the 8 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0450.463.149
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62059B0669/00K000 | Wallonia | 492 m² | 1 · 144 m² | 7.9 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- SERIAL
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, peut,par simple décision de l’organe d’administration,établir ou supprimer des sièges…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- One provision in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Registre des actions nominatives au siège social, à tout moment en nominatives à demande actionnaire” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Entre vifs ou pour cause de mort” (deed in French)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Comme en matière de modification aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque raison que ce soit et à n'importe quel moment, liquidation par organe d'administration en fonction agissant le cas…” (deed in French)1 more provision on this in the deed