ACTIVE

SERTEBO

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Financial year 2025 · closed on 31/12/2025

Net result

452,3 k €

+26.1% YoY

Gross margin

750,7 k €

+12.7% YoY

Equity

3,1 M €

+17.2% YoY

Workforce

2,0 ETP

0.0% YoY

What does SERTEBO do?

SERTEBO is a Private limited company incorporated in 1989. Its main activity is: Construction of buildings. Its registered office is in Sint-Niklaas. It employs on average 2,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0439.297.459

Incorporation

21/12/1989

Legal form

Private limited company

Registered office

Anthonis De Jonghestraat 36D
9100 Sint-Niklaas · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

2,0 ETP

Activities (NACE)

41001Construction of buildings· main 41201Construction of residential and non-residential buildings 43990Other specialised construction activities n.e.c.43999Other specialised construction activities n.e.c.41003Construction of buildings 41203Construction of residential and non-residential buildings+16

Joint committees (5)

111
124
14904
200
2000

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 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	750,7 k €	+12.7%	665,9 k €	-16.9%	801,4 k €	-28.4%	1,1 M €	+53.3%	730,5 k €	+114%	341,5 k €	+142%	141,1 k €	+81.6%	77,7 k €	+71.0%	45,4 k €	-44.2%	81,4 k €	+54.4%	52,7 k €	+75.4%	30,1 k €	-32.2%	44,3 k €	-26.1%	60 k €	-13.7%	69,5 k €	-2.5%	71,3 k €	-1.3%	72,2 k €	+2.0%	70,8 k €
EBITDA	600,3 k €	+13.2%	530,3 k €	-20.6%	667,5 k €	-30.8%	964 k €	+51.2%	637,7 k €	+130%	277,3 k €	+427%	52,6 k €	+74.4%	30,2 k €	+1074%	-3,1 k €	-109%	34,1 k €	+861%	3,5 k €	+119%	-18,3 k €	-603%	-2,6 k €	-121%	12,2 k €	-40.7%	20,5 k €	-13.8%	23,8 k €	-11.9%	27 k €	+2.9%	26,3 k €
Operating result	592 k €	+14.7%	516,1 k €	-19.8%	643,2 k €	-31.4%	937,6 k €	+51.1%	620,5 k €	+142%	256,3 k €	+683%	32,7 k €	+247%	9,4 k €	+193%	-10,1 k €	-137%	27,1 k €	+826%	2,9 k €	+114%	-20,2 k €	-137%	-8,5 k €	-235%	6,3 k €	-57.1%	14,6 k €	+10.9%	13,2 k €	-1.2%	13,4 k €	-17.2%	16,1 k €
Net result	452,3 k €	+26.1%	358,8 k €	-18.2%	438,5 k €	-32.0%	644,5 k €	+53.1%	420,9 k €	+180%	150,5 k €	+1047%	13,1 k €	+125%	5,8 k €	+141%	-14,1 k €	-156%	25,1 k €	+2165%	-1,2 k €	+94.9%	-23,8 k €	-147%	-9,6 k €	-365%	3,6 k €	-56.8%	8,4 k €	+13.5%	7,4 k €	+6.7%	6,9 k €	-27.1%	9,5 k €
Balance sheet
Equity	3,1 M €	+17.2%	2,6 M €	+15.8%	2,3 M €	+22.9%	1,8 M €	+48.6%	1,2 M €	+512%	203,2 k €	+285%	52,8 k €	+33.1%	39,6 k €	+17.2%	33,8 k €	-29.4%	47,9 k €	+110%	22,8 k €	-5.0%	24,1 k €	-49.7%	47,8 k €	-16.8%	57,5 k €	+6.7%	53,8 k €	+12.5%	47,8 k €	+11.7%	42,8 k €	+11.8%	38,3 k €
Total assets	3,3 M €	+11.1%	3 M €	+9.6%	2,7 M €	+10.5%	2,5 M €	+62.5%	1,5 M €	+146%	617,4 k €	+64.0%	376,4 k €	+118%	173 k €	+65.1%	104,8 k €	-29.6%	148,8 k €	+40.0%	106,3 k €	-10.0%	118,1 k €	-7.3%	127,3 k €	-3.1%	131,4 k €	+6.7%	123,1 k €	-12.9%	141,3 k €	-7.0%	152 k €	+3.0%	147,5 k €
Cash	2 M €	+287%	523,9 k €	-72.2%	1,9 M €	+99.3%	944,6 k €	+76.5%	535,3 k €	+348%	119,4 k €	+81.4%	65,8 k €	+318%	15,8 k €	-78.8%	74,4 k €	+938%	7,2 k €	-3.1%	7,4 k €	+1.0%	7,3 k €	+18.7%	6,2 k €	+1.4%	6,1 k €	+0.9%	6 k €	-23.4%	7,9 k €	+14.1%	6,9 k €	-16.0%	8,2 k €
Debts	243,8 k €	-32.8%	362,8 k €	-20.0%	453,6 k €	-27.4%	624,7 k €	+125%	277,7 k €	-32.0%	408 k €	+26.1%	323,6 k €	+143%	133,4 k €	+88.0%	71 k €	-29.7%	100,9 k €	+23.1%	82 k €	-11.5%	92,7 k €	+17.8%	78,7 k €	+6.5%	73,9 k €	+6.8%	69,2 k €	-25.9%	93,4 k €	-13.9%	108,5 k €	-0.1%	108,6 k €
Other
Workforce	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	-4.8%	2,1 ETP	+50.0%	1,4 ETP		–		–		–		1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 5 ended

Active mandates

VDW INVEST MANAGEMENT

Director · since 20 décembre 2023 · 0648.605.148

Represented by Davy Van De Walle

Active

Ended mandates

VDW INVEST MANAGEMENT

Director · since 20 décembre 2023 · 0648.605.148

Represented by Davy VAN DE WALLE

Ended

Davy Van De Walle

Director · since 04 juillet 2016

Ended

Davy Van De Walle

Manager · since 04 juillet 2016

Ended

Davy Van de Walle

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	30/07/2026	24/06/2025	29/08/2024	26/09/2023	15/07/2022	26/10/2021
General meeting	30/06/2026	19/06/2025	03/06/2024	05/06/2023	04/07/2022	25/10/2021
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
Abridged model	31/12/2025	30/06/2026	30/07/2026	Dutch	PDF
Abridged model	31/12/2024	19/06/2025	24/06/2025	Dutch	PDF
Abridged model	31/12/2023	03/06/2024	29/08/2024	Dutch	PDF
Abridged model	31/12/2022	05/06/2023	26/09/2023	Dutch	PDF
Abridged model	31/12/2021	04/07/2022	15/07/2022	Dutch	PDF
Abridged model	31/12/2020	25/10/2021	26/10/2021	Dutch	PDF
Abridged model	31/12/2019	01/06/2020	26/10/2020	Dutch	PDF
Micro model	31/12/2018	04/06/2019	09/10/2019	Dutch	PDF
Micro model	31/12/2017	05/06/2018	28/09/2018	Dutch	PDF
Micro model	31/12/2016	05/06/2017	13/06/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	05/08/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	28/07/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	29/07/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	04/06/2013	Dutch	PDF
Abridged model	31/12/2011	04/06/2012	04/06/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	07/06/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	09/06/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	02/06/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	04/06/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	05/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 1 active · 5 ended

Active mandates

VDW INVEST MANAGEMENT

Director · since 20 décembre 2023 · 0648.605.148

Represented by Davy Van De Walle

Active

Ended mandates

VDW INVEST MANAGEMENT

Director · since 20 décembre 2023 · 0648.605.148

Represented by Davy VAN DE WALLE

Ended

Davy Van De Walle

Director · since 04 juillet 2016

Ended

Davy Van De Walle

Manager · since 04 juillet 2016

Ended

Davy Van de Walle

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office01/09/2026
ZETELVERPLAATSING - VOLMACHT
PDF
Mandates07/02/2024
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates22/07/2016
BENAMING - MAATSCHAPPELIJKE ZETEL - DOEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office07/01/2016
MAATSCHAPPELIJKE ZETEL
PDF
Mandates18/03/2005
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/10/2003
ONTSLAGEN - BENOEMINGEN
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 2025452,3 k €↑
2024
Annual accounts 2024358,8 k €↓
2023
Annual accounts 2023438,5 k €↓
2022
Annual accounts 2022644,5 k €↑
2021
Annual accounts 2021420,9 k €↑
2018
Annual accounts 2018150,5 k €↑
2017
Annual accounts 201713,1 k €↑
2016
Annual accounts 20165,8 k €↑
2015
Annual accounts 2015-14,1 k €↓
2015
Name changeSertebo
2014
Annual accounts 201425,1 k €↑
2013
Annual accounts 2013-1,2 k €↑
2012
Annual accounts 2012-23,8 k €↓
2011
Annual accounts 2011-9,6 k €↓
2010
Annual accounts 20103,6 k €↓
2009
Annual accounts 20098,4 k €↑
2008
Annual accounts 20087,4 k €↑
2007
Annual accounts 20076,9 k €↓
2006
Annual accounts 20069,5 k €
2006
Name changeEDDY VERHAEGHEN
21/12/1989
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

SERTEBO

Overview

What does SERTEBO do?

Trend over 18 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