ACTIVE

Sercu

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Financial year 2025 · closed on 31/12/2025

Net result

24,8 k €

-63.1% YoY

Gross margin

115,2 k €

-36.7% YoY

Equity

604,6 k €

+4.3% YoY

What does Sercu do?

Sercu is a Private limited company incorporated in 1983. Its registered office is in Roeselare.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0425.015.594

Incorporation

02/12/1983

Legal form

Private limited company

Registered office

Karel De Ghelderestraat 9
8800 Roeselare · FlandreSee on map

Contributed capital

265 640,00 €

Latest accounts

31/12/2025

Joint committees (4)

140
14001
14002
14003

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	115,2 k €	-36.7%	181,9 k €	+113%	85,6 k €	+22.2%	70 k €	-33.9%	105,9 k €	+737%	12,7 k €	-81.3%	67,8 k €	-10.9%	76,1 k €	+36.4%	55,8 k €	-2.7%	57,4 k €	+70.1%	33,7 k €	-77.6%	150,6 k €	+22.7%	122,7 k €	-24.9%	163,3 k €	-5.0%	172 k €	-19.4%	213,3 k €	+37.5%	155,2 k €	-15.3%	183,2 k €	-8.0%	199,2 k €	-19.4%	247 k €
EBITDA	64 k €	-45.6%	117,6 k €	+110%	55,9 k €	-6.9%	60 k €	-8.0%	65,2 k €	+926%	-7,9 k €	-130%	26,4 k €	-23.3%	34,4 k €	+12.5%	30,5 k €	+44.2%	21,2 k €	+410%	-6,8 k €	-110%	71,8 k €	+38.0%	52,1 k €	-40.8%	88 k €	+42.1%	61,9 k €	-34.1%	93,9 k €	+830%	10,1 k €	-81.3%	54,1 k €	-39.7%	89,6 k €	-40.8%	151,5 k €
Operating result	27,2 k €	-69.8%	90 k €	+396%	18,2 k €	-44.9%	33 k €	-31.7%	48,2 k €	+259%	-30,2 k €	-752%	4,6 k €	-55.1%	10,3 k €	-5.4%	10,9 k €	+15171%	-72,5 €	+99.8%	-38 k €	-222%	31,1 k €	+233%	-23,5 k €	-157%	40,8 k €	+70.8%	23,9 k €	-57.2%	55,8 k €	+311%	-26,5 k €	-235%	19,6 k €	-11.3%	22 k €	-54.3%	48,3 k €
Net result	24,8 k €	-63.1%	67 k €	+297%	16,9 k €	-46.5%	31,5 k €	-32.5%	46,7 k €	+236%	-34,4 k €	-2831%	-1,2 k €	-476%	312,7 €	+2278%	13,2 €	-99.7%	4,8 k €	+11920%	39,8 €	-99.5%	8,5 k €	-44.3%	15,3 k €	-57.7%	36 k €	+3548%	988,1 €	-90.0%	9,9 k €	+118%	-54,7 k €	-72.4%	-31,7 k €	-749%	4,9 k €	-91.3%	56,4 k €
Balance sheet
Equity	604,6 k €	+4.3%	579,8 k €	+13.1%	512,8 k €	+3.4%	495,9 k €	+6.8%	464,4 k €	+11.2%	417,7 k €	-7.6%	452,2 k €	-0.3%	453,3 k €	+0.1%	453 k €	+0.0%	453 k €	+1.1%	448,2 k €	+0.0%	448,2 k €	+89.9%	236,1 k €	+6.9%	220,8 k €	+19.5%	184,8 k €	+0.5%	183,8 k €	+5.7%	173,9 k €	-23.9%	228,6 k €	-12.2%	260,3 k €	+1.9%	255,4 k €
Total assets	767 k €	+13.4%	676,1 k €	+30.8%	516,9 k €	+1.5%	509,3 k €	-0.9%	513,8 k €	+1.4%	506,9 k €	+1.4%	499,7 k €	-6.4%	533,9 k €	-35.7%	830 k €	+7.2%	774 k €	+63.5%	473,4 k €	-26.0%	639,3 k €	+32.0%	484,2 k €	+23.6%	391,6 k €	-0.1%	392 k €	-16.1%	467,3 k €	+13.9%	410,3 k €	-6.7%	439,7 k €	-40.8%	742,3 k €	-23.6%	972,1 k €
Cash	269,4 k €	+546%	41,7 k €	-71.8%	147,9 k €	+624%	20,4 k €	-83.2%	121,6 k €	+766%	14 k €	-74.1%	54,2 k €	-13.5%	62,6 k €	+6628%	930,7 €	-85.1%	6,2 k €	-81.5%	33,7 k €	-81.3%	180,7 k €		–		–		0,2 €	-72.3%	0,7 €		–		3,7 k €	+43.6%	2,6 k €	-74.3%	10,1 k €
Debts	162,4 k €	+68.7%	96,3 k €	+2244%	4,1 k €	-69.4%	13,4 k €	-72.8%	49,4 k €	-33.7%	74,4 k €	+56.5%	47,6 k €	-41.0%	80,6 k €	-78.6%	377 k €	+26.3%	298,5 k €	+1088%	25,1 k €	-86.9%	191,2 k €	-23.0%	248,1 k €	+45.3%	170,8 k €	-17.6%	207,3 k €	-26.9%	283,6 k €	+20.0%	236,4 k €	+12.0%	211,1 k €	-56.2%	482 k €	-32.7%	716,7 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		1,9 ETP	-36.7%	3,0 ETP	0.0%	3,0 ETP	-9.1%	3,3 ETP	-17.5%	4,0 ETP	+8.1%	3,7 ETP	-19.6%	4,6 ETP	+2.2%	4,5 ETP	+18.4%	3,8 ETP	+35.7%	2,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Mathias Sercu

Manager · since 31 décembre 2014

Active

Jan Sercu

Manager

Active

Ended mandates

Mathias Sercu

Director · since 31 décembre 2014

Ended

Mathias Sercu

Administrator - manager · since 31 décembre 2014

Ended

Jan Sercu

Director

Ended

Jan Sercu

Administrator - manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/06/2026	30/06/2025	26/06/2024	30/06/2023	30/06/2022	30/06/2021
General meeting	23/06/2026	23/06/2025	24/06/2024	30/06/2023	30/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	23/06/2026	29/06/2026	Dutch	PDF
Micro model	31/12/2024	23/06/2025	30/06/2025	Dutch	PDF
Micro model	31/12/2023	24/06/2024	26/06/2024	Dutch	PDF
Micro model	31/12/2022	30/06/2023	30/06/2023	Dutch	PDF
Micro model	31/12/2021	30/06/2022	30/06/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	30/06/2021	Dutch	PDF
Micro model	31/12/2019	30/06/2020	30/06/2020	Dutch	PDF
Micro model	31/12/2018	28/06/2019	28/06/2019	Dutch	PDF
Micro model	31/12/2017	30/06/2018	02/07/2018	Dutch	PDF
Micro model	31/12/2016	30/06/2017	30/06/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	30/06/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	30/06/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	02/07/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	02/07/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	05/07/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	30/06/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	30/06/2009	Dutch	PDF
Abridged model	31/12/2007	13/06/2008	07/07/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	02/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Mathias Sercu

Manager · since 31 décembre 2014

Active

Jan Sercu

Manager

Active

Ended mandates

Mathias Sercu

Director · since 31 décembre 2014

Ended

Mathias Sercu

Administrator - manager · since 31 décembre 2014

Ended

Jan Sercu

Director

Ended

Jan Sercu

Administrator - manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/12/2021
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/02/2015
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares27/09/2005
KAPITAAL - AANDELEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202524,8 k €↓
2024
Annual accounts 202467 k €↑
2023
Annual accounts 202316,9 k €↓
2022
Annual accounts 202231,5 k €↓
2021
Annual accounts 202146,7 k €↑
2020
Annual accounts 2020-34,4 k €↓
2019
Annual accounts 2019-1,2 k €↓
2018
Annual accounts 2018312,7 €↑
2017
Annual accounts 201713,2 €↓
2016
Annual accounts 20164,8 k €↑
2015
Annual accounts 201539,8 €↓
2014
Annual accounts 20148,5 k €↓
2013
Annual accounts 201315,3 k €↓
2012
Annual accounts 201236 k €↑
2011
Annual accounts 2011988,1 €↓
2010
Annual accounts 20109,9 k €↑
2009
Annual accounts 2009-54,7 k €↓
2008
Annual accounts 2008-31,7 k €↓
2007
Annual accounts 20074,9 k €↓
2006
Annual accounts 200656,4 k €
02/12/1983
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Sercu

Overview

What does Sercu do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline