ACTIVE

SERBI

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Financial year 2025 · Closed on 31/12/2025

Net result1,8 M €+175,9 %over 1 year

Revenue45 M €+21,5 %over 1 year

Equity4,6 M €+21,8 %over 1 year

Workforce82,3 ETP+3,9 %over 1 year

Identity

Source · BCE/KBO

SERBI is a Public limited company incorporated in 1992. Its main activity is: Construction of buildings. Its registered office is in Thimister-Clermont. It employs on average 82,3 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0449.015.869
Incorporation: 18/12/1992
Legal form: Public limited company
Registered office: Rue du Bosquet 3
4890 Thimister-Clermont · WallonieSee on map
Contributed capital: 190 000,00 €
Latest accounts: 31/12/2025
Average workforce: 82,3 ETP

Activities (NACE)

41003Construction of buildings· main 41203Construction of residential and non-residential buildings 45213Maintenance and repair of motor vehicles 41001Construction of buildings 41002Construction of buildings 41101Development of building projects+5

Joint committees (2)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	45 M €	+21.5%	37,1 M €	+2.4%	36,2 M €	-22.0%	46,4 M €	+59.4%	29,1 M €
EBITDA	3,7 M €	+79.7%	2,1 M €	+110%	983,6 k €	-57.4%	2,3 M €	+85.8%	1,2 M €
Operating result	2,7 M €	+126%	1,2 M €	+93.6%	627,9 k €	-64.7%	1,8 M €	+67.0%	1,1 M €
Net result	1,8 M €	+176%	659,6 k €	+153%	261,2 k €	-77.2%	1,1 M €	+83.6%	624,7 k €
Balance sheet
Equity	4,6 M €	+21.8%	3,8 M €	+1.6%	3,7 M €	+4.5%	3,5 M €	+18.7%	3 M €
Total assets	26,1 M €	+21.2%	21,5 M €	+6.9%	20,1 M €	-23.2%	26,2 M €	-3.8%	27,3 M €
Cash	773,9 k €	-53.6%	1,7 M €	+48.6%	1,1 M €	-37.3%	1,8 M €	+8.9%	1,6 M €
Debts	19,8 M €	+19.6%	16,5 M €	+5.0%	15,7 M €	-28.5%	22 M €	-8.2%	24 M €
Other
Workforce	82,3 ETP	+3.9%	79,2 ETP	-6.7%	84,9 ETP	-2.3%	86,9 ETP	+5.7%	82,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

6 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Maxime CORTEIL	Administrateur27/02/2026 → 18/05/2029
PITON & Cie, Réviseur d'Entreprises0884.529.934Represented by Valérie PITON	Commissaire01/07/2022 → 19/05/2028
Roger GEHLEN	Chairman of the board of directorssince 11/07/2007Managing director14/01/2008 → 2022 accountsended
Alain NORMAND	Director14/06/2007 → 11/12/2029
GEHLEN MANAGEMENT0899.433.290Represented by Roger GEHLEN	Administrateur11/12/2023 → 11/12/2029Mandate18/05/2012 → 2018 accountsended
Jean-Pierre ALVAREZ ALONSO	Administrateur11/12/2023 → 11/12/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
CHRISTIAN WAUTERS	Managing director2006 accounts
GUY GILLARD	Chairman of the board of directors2006 accounts
JEAN GILLARD	Director2006 accounts
JULES GILLARD	Director2006 accounts

Other companies at this address

Rue du Bosquet 3 4890 Thimister-Clermont

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BSL RENOVATION● Active	0899.927.594
CARoVi● Active	0769.701.235
CITY WASH● Active	0715.638.383
DEL.POWER● Active	0835.503.560
Espace Industriel des Plénesses● Active	0676.997.147
GASTRONOMIA VISION● Active	0777.986.322
GEHLEN IMMO● Active	0406.267.078
IMMO-PARQ● Active	0689.598.536
JALHAY CLOS DU FAWETAY● Active	0802.933.534
Lewax Energy● Active	1037.532.586
LEWAX HOLDING● Active	1016.953.146
NEHOS Energy● Active	0750.512.853
SERBI - CMD INVEST (SOUMAGNE GARE)● Active	0691.813.896
SG SPORTS● Active	0715.528.418
Société Momentanée JALHAY HAUT VINAVE● Active	0786.371.872
Société momentanée Serbi Gehlen Immo Thiervaux● Active	0754.372.463
Société momentanée Waimes Vinâve● Active	0769.959.571
société simple momentanée TP Bat – Dyls – Serbi – Gehlen● Active	0791.907.109
SSM FRANKI - SERBI● Active	1019.080.515

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	09/07/2026	09/07/2025	12/07/2024	13/07/2023	30/06/2022	23/06/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	20/05/2022	21/05/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	09/07/2026	French	PDF
Full model	31/12/2024	30/06/2025	09/07/2025	French	PDF
Full model	31/12/2023	30/06/2024	12/07/2024	French	PDF
Full model	31/12/2022	30/06/2023	13/07/2023	French	PDF
Full model	31/12/2021	20/05/2022	30/06/2022	French	PDF
Full model	31/12/2020	21/05/2021	23/06/2021	French	PDF
Full model	31/12/2019	15/05/2020	01/07/2020	French	PDF
Full model	31/12/2018	17/05/2019	27/06/2019	French	PDF
Full model	31/12/2017	18/05/2018	14/06/2018	French	PDF
Full model	31/12/2016	23/06/2017	23/06/2017	French	PDF
Full model	31/12/2015	20/05/2016	08/06/2016	French	PDF
Full model	31/12/2014	15/05/2015	22/06/2015	French	PDF
Full model	31/12/2013	16/05/2014	26/06/2014	French	PDF
Full model	31/12/2012	17/05/2013	12/06/2013	French	PDF
Abridged model	31/12/2011	18/05/2012	22/05/2012	French	PDF
Abridged model	31/12/2010	20/05/2011	20/06/2011	French	PDF
Abridged model	31/12/2009	21/05/2010	17/06/2010	French	PDF
Abridged model	31/12/2008	15/05/2009	15/05/2009	French	PDF
Abridged model	31/12/2007	16/05/2008	30/05/2008	French	PDF
Abridged model	31/12/2006	06/06/2007	04/07/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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.

Board of directors

Source · NBB, accounts to 31/12/2025

6 active · 5 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Maxime CORTEIL	Administrateur27/02/2026 → 18/05/2029
PITON & Cie, Réviseur d'Entreprises0884.529.934Represented by Valérie PITON	Commissaire01/07/2022 → 19/05/2028
Roger GEHLEN	Chairman of the board of directorssince 11/07/2007Managing director14/01/2008 → 2022 accountsended
Alain NORMAND	Director14/06/2007 → 11/12/2029
GEHLEN MANAGEMENT0899.433.290Represented by Roger GEHLEN	Administrateur11/12/2023 → 11/12/2029Mandate18/05/2012 → 2018 accountsended
Jean-Pierre ALVAREZ ALONSO	Administrateur11/12/2023 → 11/12/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
CHRISTIAN WAUTERS	Managing director2006 accounts
GUY GILLARD	Chairman of the board of directors2006 accounts
JEAN GILLARD	Director2006 accounts
JULES GILLARD	Director2006 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Restructuring09/09/2026
Fusion par absorption (PV AG société absorbante)
PDF
Restructuring09/09/2026
Fusion par absorption (PV AG société absorbante
PDF
Restructuring26/06/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring26/06/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates20/03/2026
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates29/07/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates21/02/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates28/12/2023
DENOMINATION - DEMISSIONS, NOMINATIONS
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

Maxime CORTEIL

PITON & Cie, Réviseur d'Entreprises

Roger GEHLEN

GEHLEN MANAGEMENT

Jean-Pierre ALVAREZ ALONSO

Alain NORMAND

JEAN GILLARD

CHRISTIAN WAUTERS

YVES GILLARD

JULES GILLARD

GUY GILLARD

19921993199419951996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

SERBISOCIETE D'ETUDES ET DE REALISATION DE BATIMENTS INDUSTRIELS

Rue du Bosquet 3, 4890 Thimister-Clermont

Administrateur

Commissaire

Chairman of the board of directorsManaging director

Administrateur

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue du Bosquet 3, 4890 Thimister-ClermontCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00281355

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
SERBICurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00281355
SOCIETE D'ETUDES ET DE REALISATION DE BATIMENTS INDUSTRIELS	accounts 2006 → 2020	Accounts 2020 · 2021-23600419

Events

2025
Annual accounts 20251,8 M €↑
2024
Annual accounts 2024659,6 k €↑
2023
Annual accounts 2023261,2 k €↓
2022
Annual accounts 20221,1 M €↑
2021
Annual accounts 2021624,7 k €↑
2021
Name changeSERBI
2020
Annual accounts 2020137,4 k €↑
2019
Annual accounts 201956,7 k €↓
2018
Annual accounts 2018149,9 k €↑
2017
Annual accounts 201799,7 k €↑
2016
Annual accounts 201690,6 k €↑
2015
Annual accounts 201587,7 k €↓
2014
Annual accounts 2014150,9 k €↑
2013
Annual accounts 2013109,9 k €↓
2012
Annual accounts 2012181,1 k €↑
2011
Annual accounts 2011107,2 k €↑
2010
Annual accounts 201030 k €↑
2009
Annual accounts 20092,4 k €↓
2008
Annual accounts 200822,8 k €↓
2007
Annual accounts 200783,7 k €↑
2006
Annual accounts 200614,1 k €
18/12/1992
IncorporationPublic limited company

SERBI

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

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

Timeline

Registered offices

Company names

Events