ACTIVE

SERCO BELGIUM

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Financial year 2025 · Closed on 31/12/2025

Net result318,1 k €-42,9 %over 1 year
Revenue25,7 M €+9,5 %over 1 year
Equity2,5 M €+14,4 %over 1 year
Workforce159,2 ETP+7,3 %over 1 year

Identity

Source · BCE/KBO

SERCO BELGIUM is a Public limited company incorporated in 1998. Its main activity is: Computer programming activities. Its registered office is in Auderghem. It employs on average 159,2 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0464.923.671
Incorporation
21/12/1998
Legal form
Public limited company
Registered office
Chaussée de Wavre 1945
1160 Auderghem · BruxellesSee on map
Contributed capital
540 000,00 €
Latest accounts
31/12/2025
Average workforce
159,2 ETP
Joint committees (4)
  • 200
  • 20000
  • 218
  • 31902
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 25 filings

Trend over 19 financial years

20252024202320222021
Income statement
Revenue25,7 M €23,5 M €21,3 M €21,8 M €22,6 M €
EBITDA851,2 k €883,6 k €-1 M €116,6 k €-497,2 k €
Operating result847,1 k €879 k €-1 M €132,1 k €-520,7 k €
Net result318,1 k €557,1 k €-1,6 M €127,8 k €-537,3 k €
Balance sheet
Equity2,5 M €2,2 M €1,7 M €3,3 M €3,2 M €
Total assets8,8 M €8 M €6,4 M €8,2 M €11 M €
Cash5,6 k €0 €454,2 k €590,1 k €2,1 M €
Debts5,8 M €5,4 M €4,7 M €4,8 M €7,8 M €
Other
Workforce159,2 ETP148,4 ETP145,2 ETP153,6 ETP147,0 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 36 ended

Active mandates

Michel Magonette

Director · since 05 août 2025 · until 30 mai 2031

Active
Stéphane Verdoy

Director · since 16 septembre 2024 · until 29 mai 2031

Active
Justinien Kubwayo

Managing director · since 24 décembre 2023 · until 30 mai 2030

Active

Ended mandates

Julie Veysset

Director · since 06 novembre 2022 · until 31 décembre 2028

Ended
Gaëtan DESCLEE DE MAREDSOUS

Director · since 14 septembre 2019 · until 14 septembre 2024

Ended
Miguel Carlos D. DELACROIX

Director · since 02 août 2019 · until 08 février 2025

Ended
Miguel Carlos D. Delacroix

Director · since 08 février 2019 · until 08 février 2025

Ended

Other companies at this address

Chaussée de Wavre 1945 1160 Auderghem
CompanyCBE no.
ATO consultants & managers● Active
0436.356.973
Eurofins GSC IT Product Management SA● Active
0555.915.017
Eurofins GSC IT Solutions & Operations● Active
0794.347.945
LUBRIZOL ADVANCED MATERIALS REALTY EUROPE● Active
0456.841.789
LUBRIZOL EUROPE COORDINATION CENTER● Active
0433.612.368
NATEOS● Active
1029.374.391
Serco Defence● Active
0644.626.564
SM AT OSBORNE - TRACTEBEL - ENGINEERING● Active
0684.752.395

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date17/07/202615/07/202510/07/202421/09/202324/01/202311/07/2022
General meeting15/07/202615/07/202528/06/202421/07/202312/01/202305/07/2022
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 25 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202515/07/202617/07/2026FrenchPDF
Full model31/12/202415/07/202515/07/2025FrenchPDF
Full model31/12/202328/06/202410/07/2024FrenchPDF
Full model31/12/202221/07/202321/09/2023FrenchPDF
Full model31/12/202112/01/202324/01/2023FrenchPDF
Full model31/12/202005/07/202211/07/2022FrenchPDF
Full model31/12/201924/06/202120/07/2021FrenchPDF
Full model31/12/201816/09/202018/09/2020FrenchPDF
Full model31/12/201728/06/201929/07/2019FrenchPDF
Full model31/12/201608/02/201927/02/2019FrenchPDF
Full modelCorrection31/12/201504/08/201719/09/2017FrenchPDF
Full model31/12/201504/08/201708/08/2017FrenchPDF
Full modelCorrection31/12/201404/08/201708/08/2017FrenchPDF
Full model31/12/201407/12/201531/12/2015FrenchPDF
Full modelCorrection31/12/201304/08/201708/08/2017FrenchPDF
Full modelCorrection31/12/201330/06/201421/11/2014FrenchPDF
Full model31/12/201330/06/201416/07/2014FrenchPDF
Full model31/12/201226/07/201309/08/2013FrenchPDF
Full model31/12/201129/06/201230/07/2012FrenchPDF
Full model31/12/201030/06/201128/07/2011FrenchPDF
Full model31/12/200929/06/201012/07/2010FrenchPDF
Full modelCorrection31/12/200823/06/200916/11/2009FrenchPDF
Full model31/12/200823/06/200910/07/2009FrenchPDF
Full model31/12/200706/06/200818/06/2008FrenchPDF

View all 25 filings

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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 36 ended

Active mandates

Michel Magonette

Director · since 05 août 2025 · until 30 mai 2031

Active
Stéphane Verdoy

Director · since 16 septembre 2024 · until 29 mai 2031

Active
Justinien Kubwayo

Managing director · since 24 décembre 2023 · until 30 mai 2030

Active

Ended mandates

Julie Veysset

Director · since 06 novembre 2022 · until 31 décembre 2028

Ended
Gaëtan DESCLEE DE MAREDSOUS

Director · since 14 septembre 2019 · until 14 septembre 2024

Ended
Miguel Carlos D. DELACROIX

Director · since 02 août 2019 · until 08 février 2025

Ended
Miguel Carlos D. Delacroix

Director · since 08 février 2019 · until 08 février 2025

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates18/09/2026
    Nomination d'un commissaire
    PDF
  • Mandates25/09/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates05/11/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates01/07/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates19/02/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Other22/06/2023
    DIVERS
    PDF
  • Mandates02/03/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates22/02/2023
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025318,1 k €↓
  2. 2024
    Annual accounts 2024557,1 k €↑
  3. 2023
    Annual accounts 2023-1,6 M €↓
  4. 2022
    Annual accounts 2022127,8 k €↑
  5. 2021
    Annual accounts 2021-537,3 k €↓
  6. 2020
    Annual accounts 2020220,5 k €↑
  7. 2018
    Annual accounts 2018-1,5 M €↓
  8. 2017
    Annual accounts 20171,9 M €↑
  9. 2016
    Annual accounts 20161,4 M €↑
  10. 2015
    Annual accounts 2015827,2 k €↑
  11. 2014
    Annual accounts 2014759 k €↓
  12. 2013
    Annual accounts 20132 M €↑
  13. 2012
    Annual accounts 2012368,8 k €↓
  14. 2011
    Annual accounts 2011917,5 k €↓
  15. 2010
    Annual accounts 20101,5 M €↑
  16. 2009
    Annual accounts 20091,2 M €↑
  17. 2008
    Annual accounts 2008897,2 k €↓
  18. 2007
    Annual accounts 20071,5 M €↑
  19. 2006
    Annual accounts 20061,4 M €
  20. 21/12/1998
    IncorporationPublic limited company