Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 37.2 to 29.5.
Financials
Financial year 2025
SADEL from Nazareth-De Pinte, company number BE0415013213, closed financial year 2025 with a result of € 911,397 after tax. For that financial year SADEL recorded revenue of € 36.4 million and equity of € 18.9 million. Compared with financial year 2024, the result moved from € 2.3 million to € 911,397. The company is profitable. 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 July 28, 2026.
€ 18.9 million
▲ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 911,397
▼ 61% vs 2024
Profit after tax over the fiscal year.
€ 4.5 million
▼ 36% 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 € 18.7 million.
People and assets in 2025
29.5
▼ 4.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.2 million
▼ 12% vs 2024
€ 75,100 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.
€ 150,106
▲ € 122,750 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2.4 million
▲ 14% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 26 days on average.
€ 722,211
▲ 68% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 81,633,736 | € 60,046,510 | € 46,163,676 | € 36,352,056 | ▼ 21% |
| Profit after taxes | € 8,684,155 | € 4,661,942 | € 2,319,096 | € 911,397 | ▼ 61% |
| Equity | € 29,490,600 | € 28,199,233 | € 17,993,170 | € 18,904,568 | ▲ 5% |
| Total debts | € 24,363,030 | € 9,469,180 | € 2,622,775 | € 3,165,021 | ▲ 21% |
| Cash | € 18,959,574 | € 6,165,925 | € 7,072,390 | € 4,519,518 | ▼ 36% |
| Land & buildings | € 1,380,128 | € 0 | - | - | |
| Retained profit | € 29,240,600 | € 27,960,973 | € 17,754,910 | € 18,666,308 | ▲ 5% |
| Dividend | € 21,000,000 | € 4,550,000 | € 12,500,000 | € 0 | ▼ 100% |
| Balance sheet total | € 56,570,793 | € 40,385,575 | € 23,323,713 | € 24,777,356 | ▲ 6% |
| Employees (FTE) | 42.2 | 37.2 | 34 | 29.5 | ▼ 4.5 |
Key figures of SADEL, 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 SADEL?
What happened at SADEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 911,397 (▼ 61% vs 2024). Source: NBB ↗
- Christiane Van Ryckeghem stepped down as director. NBB
- TIA-Delfin BV became a director. NBB
- Christiane Van Ryckeghem became a director. NBB
- New establishment in Nazareth-De Pinte. KBO
- Start of the company according to the CBE. KBO
In short
From € 8.7 million profit in 2022 to € 911,397 profit in 2025.
Paid € 5.6 million in corporate taxes since 2022.
Best year ever: 2022, with € 8.7 million profit.
Paid out € 38.1 million in dividends to the owners in total.
Management
Behind SADEL is TIA-Delfin BV. The shares are held by TIA-Delfin BV (100%). It owns 100% of Atinox S.A.R.L. BO itself.
Directors
According to the 2025 annual accounts
Director · represented by Christiane Van Ryckeghem, Johan De Letter
Also active at: S.E. INDUSTRIES, Deby, CARGOBEL LOGISTICS
since 2024
Christiane Van Ryckeghem
Director
Also active at: S.E. INDUSTRIES, Deby, TIA - DELFIN, CARGOBEL LOGISTICS
since 2024 · until 2026
Shareholders
100%
Participations
Atinox S.A.R.L. BO
100%
Establishments
Establishment units
Physical locations of this company
Venecoweg 35
9810 Nazareth-De Pinte
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →S.E. INDUSTRIES same network
€ 1.6 million revenue · 2025
Deby same network
€ 209,293 revenue · 2025
S.E. AUTOMATION
€ -12,687 gross margin · 2026
DELKA
€ 61,312 gross margin · 2025
TIA - DELFIN same network
€ 952,420 revenue · 2025
+1 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
- 0415.013.213
- VAT number
- BE 0415.013.213
- Registered office
- Venecoweg 35, 9810 Nazareth-De Pinte
- Names & denominations
- SADEL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 April 1975
- Peppol
- Active · Active since 1 Jan 2026
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