SERILICO
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 23-01-2026 PDF all 25 filings
Turnover
≈ €11,000
Estimated: probably between €4,500 and €27,000
EBIT margin
Not included in this filing
Net result
€276,972▼ 81.3%
2024 · €1.5m
Working capital
€4.1m▲ 8.0%
2024 · €3.8m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€33,759
▼ 22.9%
2025
20192025
Net result
€276,972
▼ 81.3%
2025
20192025
Equity
€5.8m
▲ 5.0%
2025
20192025
Total assets
€7.0m
▲ 3.9%
2025
20192025
Debt
€1.2m
▼ 1.3%
2025
20192025
Working capital
€4.1m
▲ 8.0%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.04m--€0.09m▼ 103%-€0.04m▲ 57.7%-€0.03m▲ 23.5%-€0.03m▼ 9.8%-€0.03m▲ 15.1%-€0.03m▼ 22.9%
Net result-€0.004m--€0.04m▼ 726%€0.2m€0.2m▲ 17.3%€0.2m▲ 8.8%€1.5m▲ 526%€0.3m▼ 81.3%
Equity€3.5m-€3.4m▼ 1.0%€3.6m▲ 5.4%€3.8m▲ 6.0%€4.1m▲ 6.2%€5.5m▲ 36.5%€5.8m▲ 5.0%
Total assets€4.5m-€4.4m▼ 0.8%€5.7m▲ 28.5%€5.2m▼ 8.5%€5.3m▲ 2.1%€6.7m▲ 25.9%€7.0m▲ 3.9%
Debt€1.0m-€1.0m=€2.1m▲ 106%€1.4m▼ 33.4%€1.3m▼ 9.2%€1.2m▼ 7.9%€1.2m▼ 1.3%
Working capital€2.3m-€2.1m▼ 9.4%€2.1m▼ 2.6%€2.0m▼ 1.5%€2.3m▲ 13.0%€3.8m▲ 65.6%€4.1m▲ 8.0%
The operating result for 2025 is a loss of €33,759, larger than the loss of €27,460 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.0m
Fixed assets
€1.7m ▼ 1.4%
Current assets
€5.2m ▲ 5.8%
Equity and liabilities €7.0m
Equity
€5.8m ▲ 5.0%
Debt
€1.2m ▼ 1.3%
Debt's share of the balance-sheet total falls from 17.4% to 16.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€8,254▼
2024 · -€1,956
Cash flow
€302,477▼
2024 · €1.5m
Current ratio
4.53▲
2024 · 4.22
Debt to equity
0.20▼
2024 · 0.21
ROE
4.8%▼
2024 · 26.7%
ROA
4.0%▼
2024 · 22.1%
Interest coverage
-0.25▼
2024 · -0.06
Debt ≤ 1 year
€1.2m▼
2024 · €1.2m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €269,440 | - | €10,500 | - |
| Intangible fixed assets | - | - | €0 | - |
| Depreciation and write-downs of the year | €21,424 | €25,189 | €25,504 | €25,504 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €0.05m | €0.01m | €0.02m | €0.03m | €0.03m | €0.03m | = |
| Other operating charges640/8 | - | - | - | €0.009m | €0.009m | €0.01m | €0.01m | ▲ 0.6% |
| Gross operating margin9900 | -€0.04m | -€0.04m | -€0.03m | €0.001m | €0.002m | €0.008m | €0.002m | ▼ 79.8% |
| Operating profit (loss)9901 | -€0.04m | -€0.09m | -€0.04m | -€0.03m | -€0.03m | -€0.03m | -€0.03m | ▼ 22.9% |
| Financial income75/76B | - | - | - | €0.2m | €0.3m | €1.5m | €0.3m | ▼ 77.7% |
| Recurring financial income75 | €0.1m | €0.06m | €0.2m | €0.2m | €0.3m | €1.5m | €0.3m | ▼ 77.7% |
| Financial charges65/66B | - | - | - | €0.001m | €0.004m | €0.03m | €0.03m | ▲ 7.2% |
| Recurring financial charges65 | €0.09m | €465 | €430 | €0.001m | €0.004m | €0.03m | €0.03m | ▲ 7.2% |
| Profit (loss) for the period before taxes9903 | -€0.004m | -€0.04m | €0.2m | €0.2m | €0.2m | €1.5m | €0.3m | ▼ 81.3% |
| Profit (loss) for the period9904 | -€0.004m | -€0.04m | €0.2m | €0.2m | €0.2m | €1.5m | €0.3m | ▼ 81.3% |
| Profit (loss) for the period to be appropriated9905 | -€0.004m | -€0.04m | €0.2m | €0.2m | €0.2m | €1.5m | €0.3m | ▼ 81.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €4.5m | €4.4m | €5.7m | €5.2m | €5.3m | €6.7m | €7.0m | ▲ 3.9% |
| Fixed assets21/28 | €1.1m | €1.3m | €1.6m | €1.8m | €1.8m | €1.8m | €1.7m | ▼ 1.4% |
| Tangible fixed assets22/27 | €1.0m | €1.3m | €1.6m | €1.8m | €1.8m | €1.8m | €1.7m | ▼ 1.4% |
| Land and buildings22 | - | - | - | €1.8m | €1.8m | €1.8m | €1.7m | ▼ 1.4% |
| Financial fixed assets28 | €0.2m | - | - | - | - | - | - | - |
| Current assets29/58 | €3.3m | €3.1m | €4.2m | €3.4m | €3.6m | €5.0m | €5.2m | ▲ 5.8% |
| Amounts receivable within one year40/41 | €0.04m | €0.003m | €0.08m | €0.09m | €0.09m | €0.08m | €0.08m | ▲ 4.4% |
| Trade receivables40 | - | - | - | €0.01m | €0.01m | - | - | - |
| Other amounts receivable41 | - | - | - | €0.07m | €0.08m | €0.08m | €0.08m | ▲ 4.4% |
| Current investments50/53 | €3.1m | €3.1m | €3.1m | €3.1m | €3.3m | €4.1m | €4.4m | ▲ 8.2% |
| Cash at bank and in hand54/58 | €0.3m | €0.07m | €1.0m | €0.3m | €0.2m | €0.8m | €0.7m | ▼ 6.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €4.5m | €4.4m | €5.7m | €5.2m | €5.3m | €6.7m | €7.0m | ▲ 3.9% |
| Equity10/15 | €3.5m | €3.4m | €3.6m | €3.8m | €4.1m | €5.5m | €5.8m | ▲ 5.0% |
| Contributions10/11 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Capital10 | - | - | - | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Issued capital100 | - | - | - | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | €2.1m | €2.1m | €2.2m | €2.5m | €2.7m | €4.2m | €4.5m | ▲ 6.6% |
| Amounts payable17/49 | €1.0m | €1.0m | €2.1m | €1.4m | €1.3m | €1.2m | €1.2m | ▼ 1.3% |
| Amounts payable within one year42/48 | €1.0m | €1.0m | €2.1m | €1.4m | €1.3m | €1.2m | €1.2m | ▼ 1.3% |
| Trade debts44 | - | - | €0.05m | - | €0.002m | €0.002m | - | - |
| Suppliers440/4 | - | - | - | - | €0.002m | €0.002m | - | - |
| Other amounts payable47/48 | - | - | - | €1.4m | €1.3m | €1.2m | €1.2m | ▼ 1.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.004m | -€0.04m | €0.2m | €0.2m | €0.2m | €1.5m | €0.3m | ▼ 81.3% |
| + Depreciation and write-downs630 | - | €0.05m | €0.01m | €0.02m | €0.03m | €0.03m | €0.03m | = |
| Operating cash flow (approximation) | -€0.004m | €0.02m | €0.2m | €0.2m | €0.3m | €1.5m | €0.3m | ▼ 79.9% |
| Investment in fixed assets (approximation) | - | -€0.2m | -€0.3m | -€0.3m | €0 | -€0.01m | €0 | - |
| Change in cash | - | -€0.2m | €1.0m | -€0.7m | -€0.08m | €0.6m | -€0.05m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,887 companies had the same profile as SERILICO has now. Two years later, 97.9% were still going and 0.1% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
97.9%
was still going
2.0%
stopped otherwise
0.1%
went bankrupt
That fits the bankruptcy probability of SERILICO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,887 companies, not a prediction for SERILICO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 23-01-2026 | 2026-00012285 | |
| 30-06-2024 | full format | 30-01-2025 | 2025-00015427 | |
| 30-06-2023 | full format | 03-01-2024 | 2024-00541766 | |
| 30-06-2022 | full format | 09-11-2022 | 2022-20517584 | |
| 30-06-2021 | full format | 25-01-2022 | 2022-01600284 | |
| 30-06-2020 | full format | 28-01-2021 | 2021-02100357 | |
| 30-06-2019 | full format | 27-12-2019 | 2019-77500207 | |
| 30-06-2018 | full format | 15-11-2018 | 2018-72100420 | |
| 30-06-2017 | full format | 20-11-2017 | 2017-69800247 | |
| 30-06-2016 | full format | 08-11-2016 | 2016-67500195 |