SERMACO
InactiveSERMACO was declared bankrupt on 28-11-2023 (Ondernemingsrechtbank Antwerpen, afdeling Tongeren); the bankruptcy was closed by liquidation by judgment of 02-12-2025, published in the Belgian State Gazette on 08-12-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline24-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 31-08-2022, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
31 d late
2020
25 d late
2019
411 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, micro schema
Equity
€20k▲ 95.7%
2020 · €10k
2018: €-13k
2019: €2k
2020: €10k
2018 → 2021
Total assets
€87k▲ 11.7%
2020 · €78k
2018: €95k
2019: €99k
2020: €78k
2018 → 2021
Net result
€10k▲ 21.3%
2020 · €8k
2018: €-29k
2019: €15k
2020: €8k
2018 → 2021
Working capital
€-47k▲ 3.9%
2020 · €-49k
2018: €-51k
2019: €-50k
2020: €-49k
2018 → 2021
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€-13k-€2k€10k▲ 374%€20k▲ 95.7%
Operating result€-25k-€18k€-5k€-8k▼ 62.4%
Net result€-29k-€15k€8k▼ 48.5%€10k▲ 21.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8k in 2021 against €5k in 2020; the loss grows.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €87k
Fixed assets
€69k ▼ 1.9%
Current assets
€18k ▲ 137%
Equity and liabilities €87k
Equity
€20k ▲ 95.7%
Debt
€67k ▼ 0.7%
Debt's share of the balance-sheet total falls from 87.1% to 77.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€-4k▼
2020 · €-1k
Cash flow
€13k▲
2020 · €11k
Current ratio
0.28▲
2020 · 0.13
Quick ratio
0.25▲
2020 · 0.10
Debt to equity
3.44▲
2020 · 1.11
ROE
48.9%▼
2020 · 78.9%
ROA
11.0%▲
2020 · 10.1%
Interest coverage
-2.18
Debt ≤ 1 year
€65k▲
2020 · €57k
Debt > 1 year
€2k▼
2020 · €11k
Income taxes
€273=
2020 · €273
Staff costs
€59k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2021 against 2020 · 48 lines
Balance sheet
Code20202021
Assets
Total assets20/58€78k€87k▲
Fixed assets21/28€70k€69k▼
Tangible fixed assets22/27€69k€68k▼
Plant, machinery and equipment23-€17k
Furniture and vehicles24-€21k
Other tangible fixed assets26-€29k
Financial fixed assets28€1k€1k=
Current assets29/58€8k€18k▲
Stocks and contracts in progress3€2k€2k=
Stocks30/36-€2k
Amounts receivable within one year40/41€394-
Cash at bank and in hand54/58€5k€16k▲
Equity and liabilities
Total equity and liabilities10/49€78k€87k▲
Equity10/15€10k€20k▲
Contributions10/11€19k€19k=
Outside capital11-€19k
Other1109/19-€19k
Reserves13€684€684=
Non-distributable reserves130/1-€684
Legal reserve130-€684
Profit (loss) carried forward14€-9k€259▲
Amounts payable17/49€68k€67k▼
Amounts payable after more than one year17€11k€2k▼
Financial debts170/4-€2k
Amounts payable within one year42/48€57k€65k▲
Current portion of amounts payable after more than one year42-€9k
Trade debts44€843€6k▲
Suppliers440/4-€6k
Taxes, remuneration and social security45-€23k
Taxes450/3-€6k
Remuneration and social security454/9-€17k
Other amounts payable47/48-€28k
Income statement
Code20202021
Remuneration, social security and pensions62-€59k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▲
Other operating charges640/8-€3k
Gross operating margin9900€60k€58k▼
Operating profit (loss)9901€-5k€-8k▼
Financial income75/76B-€19k
Recurring financial income75-€19k
Non-recurring financial income76B-€19k
Financial charges65/66B-€2k
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€8k€10k▲
Income taxes67/77€273€273=
Profit (loss) for the period9904€8k€10k▲
Profit (loss) for the period to be appropriated9905€8k€10k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€259
Profit (loss) brought forward from the previous period14P-€-9k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
08-12
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Antwerpen, afdeling Tongeren-Borgloon · SERMACO BV DOKTER HAUBENLAAN(M) 71, 3630 MAASMECHELEN · event 02-12-2025
2023
04-12
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Tongeren · SERMACO BV DOKTER HAUBENLAAN(M) 71, 3630 MAASMECHELEN · event 28-11-2023
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
15-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 411 days late
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2019
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
19-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 19 days late
2015
26-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 26 days late
2014
29-08
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 29 days late
2013
20-08
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema · 20 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
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
3 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | FELIX RUYSSCHAERT PIEPELPOEL 13,
3700 TONGEREN |
28-11-2023 → 02-12-2025 |
| Curator | MARK
BERNAERTS PIEPELPOEL 13, 3700 TONGEREN- |
28-11-2023 → 02-12-2025 |
| Curator | STEFANIE GROSEMANS PIEPEL-
POEL 13, 3700 TONGEREN |
28-11-2023 → 02-12-2025 |