SERTHO
ActiveSERTHO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €168k and a net result of €50k. Equity is growing by ~77.2% per year across the filed fiscal years. Its solvency ranks better than 53% of 17661 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
94
/ 100
Excellent▲ +16 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+2
Solvency81▲+29
Growth78=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16k at 30 days acceptable
Liquidity ample (current ratio 2.57 against 1.5 in 2024), but 62.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
37.8%
Return on assets
11.2%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-08-2025 was due by 31-03-2026 and was filed on 27-03-2026, 4 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
4 d early
2024
7 d early
2023
27 d early
2022
21 d early
2021
8 d early
2020
8 d early
2019
22 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-08-2026 and is due by 31-03-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-08-2026 close08-09-2026 today31-03-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€168k▲ 42.1%
2024 · €118k
2019: €8k
2020: €9k
2021: €21k
2022: €54k
2023: €95k
2024: €118k
2019 → 2025
Total assets
€444k▲ 0.7%
2024 · €441k
2019: €65k
2020: €349k
2021: €345k
2022: €391k
2023: €372k
2024: €441k
2019 → 2025
Net result
€50k▲ 115%
2024 · €23k
2019: €11k
2020: €1k
2021: €12k
2022: €33k
2023: €50k
2024: €23k
2019 → 2025
Working capital
€72k▲ 146%
2024 · €29k
2019: €14k
2020: €-23k
2021: €-37k
2022: €16k
2023: €8k
2024: €29k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€21k-€54k▲ 160%€95k▲ 77.2%€118k▲ 24.3%€168k▲ 42.1%
Operating result€15k-€37k▲ 137%€69k▲ 86.9%€38k▼ 44.5%€71k▲ 87.6%
Net result€12k-€33k▲ 182%€50k▲ 52.2%€23k▼ 54.1%€50k▲ 115%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 88% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €444k
Fixed assets
€326k▼ 7.5%
Current assets
€117k▲ 33.3%
Equity and liabilities €444k
Equity
€168k▲ 42.1%
Debt
€276k▼ 14.5%
The debt ratio falls from 73.2% to 62.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€105k▲
2024 · €61k
Cash flow
€83k▲
2024 · €46k
Solvency
37.8%▲
2024 · 26.8%
Current ratio
2.57▲
2024 · 1.50
Quick ratio
2.19▲
2024 · 1.23
Debt / equity
1.65▼
2024 · 2.73
ROE
29.6%▲
2024 · 19.5%
ROA
11.2%▲
2024 · 5.2%
Interest coverage
21.22▲
2024 · 9.62
Debt
€276k▼
2024 · €322k
Debt ≤ 1 year
€46k▼
2024 · €59k
Debt > 1 year
€209k▼
2024 · €241k
Income taxes
€18k▲
2024 · €9k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€441k€444k▲
Fixed assets21/28€352k€326k▼
Tangible fixed assets22/27€352k€326k▼
Land and buildings22€269k€256k▼
Plant, machinery and equipment23€13k€14k▲
Furniture and vehicles24€71k€56k▼
Current assets29/58€88k€117k▲
Stocks and contracts in progress3€16k€17k▲
Stocks30/36€16k€17k▲
Amounts receivable within one year40/41€33k€20k▼
Trade receivables40€24k€17k▼
Other amounts receivable41€9k€3k▼
Cash at bank and in hand54/58€39k€80k▲
Deferred charges and accrued income490/1€157€0▼
Equity and liabilities
Total equity and liabilities10/49€441k€444k▲
Equity10/15€118k€168k▲
Contributions10/11€19k€19k=
Reserves13€99k€149k▲
Tax-exempt reserves132€16k€16k=
Distributable reserves133€84k€133k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€322k€276k▼
Amounts payable after more than one year17€241k€209k▼
Financial debts170/4€241k€209k▼
Amounts payable within one year42/48€59k€46k▼
Current portion of amounts payable after more than one year42€31k€32k▲
Trade debts44€266€0▼
Suppliers440/4€266€0▼
Taxes, remuneration and social security45€3k€5k▲
Taxes450/3€1k€5k▲
Remuneration and social security454/9€2k€0▼
Other amounts payable47/48€25k€9k▼
Accrued charges and deferred income492/3€23k€21k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€34k▲
Other operating charges640/8€4k€2k▼
Gross operating margin9900€65k€107k▲
Operating profit (loss)9901€38k€71k▲
Financial income75/76B€1€940▲
Recurring financial income75€1€940▲
Financial charges65/66B€6k€5k▼
Recurring financial charges65€6k€5k▼
Profit (loss) for the period before taxes9903€32k€67k▲
Income taxes67/77€9k€18k▲
Profit (loss) for the period9904€23k€50k▲
Profit (loss) for the period to be appropriated9905€23k€50k▲
Appropriation of the result
Profit (loss) to be appropriated9906€23k€50k▲
Transfer from equity791/2€0-
Transfer to equity691/2€23k€50k▲
To other reserves6921€23k€50k▲
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-08
Financial
Equity above €150kEq €168k ▲42.1%
7 profitable years in a row build equity to €168k.
24-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-08
Financial
Equity above €100kEq €118k ▲24.3%
6 profitable years in a row build equity to €118k.
04-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
Financial
Highest result since 2019net €50k ▲52.2%
Net result €50k, the highest in the series.
10-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
Financial
Liquidity doublescurrent ratio 1.23
Current ratio from 0.50 to 1.23; short-term debt falls from €75k to €69k.
23-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-08
Financial
Weakest financial yearnet €1k ▼90.4%
Net result drops to €1k, the lowest in the series; recovery starts the following year.
09-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 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
Registered office, Brugge · 1 establishment unit since 2015
Ground area
255 m²
Building footprint
255 m²
Volume, LiDAR
2,257 m³
Parcel 31002A0049/00L008, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SERTHO
since 20152.249.015.670
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31002A0049/00L008 | Flanders | 255 m² | 1 · 255 m² | 11.5 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,430 companies in sector 47791 we hold annual accounts for 453. 342 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-12-2015
Fiscal year end31-08
Activities, NACEBEL
47791Retail sale of antiques
25110Manufacture of metal structures and parts of structures
25401Forging of metal
25510Coating of metals
25610Manufacture of fabricated metal products, except machinery and equipment
25910Manufacture of fabricated metal products, except machinery and equipment
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
74103Other professional, scientific and technical activities
74120Graphic design and visual communication
95240Repair and maintenance of furniture and upholstery
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 07-09-2026. Scores and ratios are computed by Checked and are not a credit decision.