Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Figures corrected NBB
Corrected annual account filed for 2023.
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Busy address KBO
10 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Serco Defence from Oudergem, company number BE0644626564, closed financial year 2025 with a result of € 131,465 after tax. For that financial year Serco Defence recorded revenue of € 11.6 million and equity of € 5.9 million. Compared with financial year 2024, the result moved from € -831,533 to € 131,465. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on October 5, 2026.
€ 5.9 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 131,465
▲ still € 831,533 loss in 2024
Profit after tax over the fiscal year.
€ 6,778
▼ 98% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -965,180.
People and assets in 2025
31.8
▲ 2.6 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.8 million
▼ 6% vs 2024
€ 55,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 4.8 million
▲ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 169 days on average.
€ 525,121
▲ 71% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 9,041,054 | € 13,792,721 | € 12,347,522 | € 11,561,595 | ▼ 6% |
| Profit after taxes | € 557,025 | € 3,662,771 | € -831,533 | € 131,465 | ▲ € 962,998 |
| Equity | € -3,866,383 | € -203,612 | € 5,764,855 | € 5,896,320 | ▲ 2% |
| Total debts | € 13,254,840 | € 13,635,893 | € 14,709,924 | € 10,726,482 | ▼ 27% |
| Cash | € 222,447 | € 302,121 | € 305,730 | € 6,778 | ▼ 98% |
| Retained profit | € -3,927,883 | € -265,112 | € -1,096,645 | € -965,180 | ▲ € 131,465 |
| Bank debt | € 290,384 | € 0 | € 147,403 | € 0 | ▼ 100% |
| Balance sheet total | € 9,388,457 | € 13,432,281 | € 20,474,779 | € 16,622,802 | ▼ 19% |
| Employees (FTE) | 30.7 | 29.3 | 29.2 | 31.8 | ▲ 2.6 |
Key figures of Serco Defence, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Serco Defence?
What happened at Serco Defence in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Michel Magonette stepped down as director. NBB
- Stéphane Verdoy stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 131,465. filed late Source: NBB ↗
- Michel Magonette became a director. NBB
- Stéphane Verdoy became a director. NBB
- New establishment in Oudergem. KBO
- New establishment in Leuven. KBO
- Start of the company according to the CBE. KBO
In short
From € 557,025 profit in 2022 to € 131,465 profit in 2025.
Paid € 109,925 in corporate taxes since 2022.
Best year ever: 2023, with € 3.7 million profit.
Pays suppliers within 169 days on average.
Management
The shares are held by Serco Holdings LTD (99%) and Serco LTD (1%). It owns 100% of Clemaco Trading and 100% of Serco Maritime Services itself.
Directors
According to the 2025 annual accounts
since 2024 · until 2030
since 2025 · until 2031
Shareholders
Serco Holdings LTD
99%
Serco LTD
1%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Waverse steenweg 1945
1160 Oudergem
Hertogstraat 184
3001 Leuven
Active since 17 December 2015
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 10 companies are registered at this address.
All companies at this address →LUBRIZOL EUROPE COORDINATION CENTER
€ -6,383 gross margin · 2025
ATO consultants & managers
€ 3.9 million revenue · 2025
LUBRIZOL ADVANCED MATERIALS REALTY EUROPE
€ -5,007 gross margin · 2025
SERCO BELGIUM same network
€ 25.7 million revenue · 2025
Eurofins GSC IT Product Management SA
€ 3.1 million gross margin · 2025
+5 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0644.626.564
- VAT number
- BE 0644.626.564
- Registered office
- Waverse steenweg 1945, 1160 Oudergem
- Names & denominations
- Serco Defence
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 17 December 2015
- Peppol
- Active · Active since 2 Jan 2026
- Activities · NACE
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