Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Figures corrected NBB
Corrected annual account filed for 2023.
Financials
Financial year 2024
Serco Defence from Oudergem, company number BE0644626564, closed financial year 2024 with a result of € -831,533 after tax. For that financial year Serco Defence recorded revenue of € 12.3 million and equity of € 5.8 million. Compared with financial year 2023, the result moved from € 3.7 million to € -831,533. The company made a loss. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on January 27, 2026.
€ 5.8 million
▲ € 6 million vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -831,533
▼ still € 3.7 million profit in 2023
Profit after tax over the fiscal year.
€ 305,730
▲ 1% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.1 million.
People and assets in 2024
29.2
▼ 0.1 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 1.9 million
▲ 2% vs 2023
€ 64,300 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 2024
€ 147,403
Loans from banks and other lenders, long and short.
€ 4.4 million
▲ 12% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 150 days on average.
€ 306,670
▲ 48% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | € 5,917,833 | € 9,041,054 | € 13,792,721 | € 12,347,522 | ▼ 10% |
| Profit after taxes | € -2,127,852 | € 557,025 | € 3,662,771 | € -831,533 | ▼ € 4.5 million |
| Equity | € -4,423,409 | € -3,866,383 | € -203,612 | € 5,764,855 | ▲ € 6 million |
| Total debts | € 15,841,878 | € 13,254,840 | € 13,635,893 | € 14,709,924 | ▲ 8% |
| Cash | € 602,589 | € 222,447 | € 302,121 | € 305,730 | ▲ 1% |
| Retained profit | € -4,484,909 | € -3,927,883 | € -265,112 | € -1,096,645 | ▼ € 831,533 |
| Bank debt | € 0 | € 290,384 | € 0 | € 147,403 | |
| Balance sheet total | € 11,418,469 | € 9,388,457 | € 13,432,281 | € 20,474,779 | ▲ 52% |
| Employees (FTE) | 30.5 | 30.7 | 29.3 | 29.2 | ▼ 0.1 |
Key figures of Serco Defence, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
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 2024: loss of € 831,533 (▼ € 4.5 million vs 2023). 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 € 2.1 million loss in 2021 to € 831,533 loss in 2024.
Paid € 3,314 in corporate taxes since 2021.
Best year ever: 2023, with € 3.7 million profit.
Pays suppliers within 150 days on average.
A new publication or filing at Serco Defence? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by Serco Holdings LTD (99%) and Serco LTD (1%). It owns 100% of Mercurius Finance SA itself.
Directors
According to the 2024 annual accounts
since 2024 · until 2030
since 2025 · until 2031
Shareholders
Serco Holdings LTD
99%
Serco LTD
1%
Participations
Mercurius Finance SA
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 8 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
+3 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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