SERGE GHEM SRL
ActiveSERGE GHEM SRL has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-40k) and a net result of €-71k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 27386 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
17
/ 100
Critical▼ -46 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+100
Solvency33▼-45
Growth22▼-13
Stability100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.48 against 1.69 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-108.4%
Return on assets
-191.2%
Age of the figures
8 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€40k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
27 d late
2023
19 d early
2022
8 d late
2021
73 d early
2020
53 d late
2019
31 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€446k▼ 10.1%
2021 · €496k
2021: €496k
2021 → 2022
EBIT margin
13.8%▼ 3.1pp
2021 · 16.9%
2021: 16.9%
2021 → 2022
Net result
€-71k▼ 541%
2024 · €-11k
2018: €20k
2019: €39k
2020: €-17k
2021: €46k
2022: €41k
2023: €-39k
2024: €-11k
2018 → 2025
Working capital
€-40k
2024 · €30k
2018: €-33k
2019: €7k
2020: €-10k
2021: €40k
2022: €81k
2023: €41k
2024: €30k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€496k-€446k▼ 10.1%
Equity€40k-€81k▲ 101%€42k▼ 48.5%€31k▼ 26.5%€-40k
Operating result€84k-€62k▼ 26.6%€-14k€-8k▲ 47.0%€-38k▼ 394%
Net result€46k-€41k▼ 11.5%€-39k€-11k▲ 71.9%€-71k▼ 541%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €38k in 2025 against €8k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €37k
Fixed assets
€299=
Current assets
€37k▼ 50.5%
Key figures and ratios
Solvency
-108.4%▼
2024 · 41.2%
Current ratio
0.48▼
2024 · 1.69
Quick ratio
0.48▼
2024 · 1.69
Debt / equity
-1.92▼
2024 · 1.43
ROE
176.4%▲
2024 · -36.0%
ROA
-191.2%▼
2024 · -14.8%
Debt
€77k▲
2024 · €44k
Debt ≤ 1 year
€77k▲
2024 · €44k
Income taxes
€29k
Staff costs
€25k▼
2024 · €27k
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€74k€37k▼
Fixed assets21/28€299€299=
Financial fixed assets28€299€299=
Current assets29/58€74k€37k▼
Amounts receivable within one year40/41€62k€19k▼
Trade receivables40€19k€7k▼
Other amounts receivable41€43k€12k▼
Cash at bank and in hand54/58€5k€627▼
Deferred charges and accrued income490/1€7k€17k▲
Equity and liabilities
Total equity and liabilities10/49€74k€37k▼
Equity10/15€31k€-40k▼
Contributions10/11€19k€19k=
Reserves13€62k€62k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€61k€61k=
Profit (loss) carried forward14€-50k€-121k▼
Amounts payable17/49€44k€77k▲
Amounts payable within one year42/48€44k€77k▲
Financial debts43-€28k
Credit institutions430/8-€28k
Trade debts44€12k€16k▲
Suppliers440/4€12k€16k▲
Taxes, remuneration and social security45€3k€7k▲
Taxes450/3€418€613▲
Remuneration and social security454/9€3k€6k▲
Other amounts payable47/48€28k€26k▼
Income statement
Code20242025
Remuneration, social security and pensions62€27k€25k▼
Other operating charges640/8€2k€10k▲
Gross operating margin9900€22k€-3k▼
Operating profit (loss)9901€-8k€-38k▼
Financial income75/76B€37€7▼
Recurring financial income75€37€7▼
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€-11k€-42k▼
Income taxes67/77-€29k
Profit (loss) for the period9904€-11k€-71k▼
Profit (loss) for the period to be appropriated9905€-11k€-71k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-50k€-121k▼
Profit (loss) brought forward from the previous period14P€-39k€-50k▼
The notes to these accounts (6 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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Weakest financial yearnet €-71k
Net result drops to €-71k, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 8 days late
2022
19-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €46k
Net result €46k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 2.24
Current ratio from 0.72 to 2.24; short-term debt falls from €34k to €32k.
22-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 53 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
29-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 334 days late
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 699 days late
2017
15-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 15 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Gesves · 1 establishment unit since 1990
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Monty(Sorée) 315340 GesvesGround area
2,945 m²
Building footprint
306 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
SERGE GHEM SPRL
since 19902.047.464.518
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92115C0153/00B004indicative | Wallonia | 1,504 m² | 1 · 137 m² | - |
| 92115C0154/00K006 | Wallonia | 1,441 m² | 1 · 169 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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IN CONSTRUCT
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Rideco
BE 0728.477.126
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AMG SOLUTIONS
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Of 15,430 companies in sector 43990 we hold annual accounts for 7,352. 5,639 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-01-1990
Fiscal year end31-12
Activities, NACEBEL
43990Other specialised construction activities
43995Specialised construction activities
43120Site preparation
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesE-mail:sergeghem@hotmail.com
Phone:083/61.39.72
Fax:083/61.39.72