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SADUCOM

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Private limited companyfounded 1992active for 34 yearsTaboralaan 108, 8400 Ostend, BelgiumKBO/BCE: BE 0448.409.818
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SADUCOMActiveChecked score 54/100
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Financials · financial year 2024, micro format

2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 5 November 2026.

Annual accounts 2024 filed on 30-09-2025 PDF all 32 filings

Equity
€250,024▼ 12.5%
2023 · €285,812
Total assets
€333,251▼ 9.3%
2023 · €367,327
Net result
-€35,788
2023 · €150,987
Working capital
€99,077▼ 26.5%
2023 · €134,865
Multi-year overview
2018 to 2024, 7 financial years
Operating result
-€23,494
2024
20182024
Net result
-€35,788
2024
lowest quarter of the sector
20182024
Equity
€250,024
▼ 12.5% 2024
middle half of the sector
20182024
Total assets
€333,251
▼ 9.3% 2024
middle half of the sector
20182024
Debt
€29,974
▲ 6.1% 2024
20182024
Working capital
€99,077
▼ 26.5% 2024
middle half of the sector
20182024
Solvency
75.0%
▼ 2.8pp 2024
middle half of the sector
20182024
Current ratio
4.31
▼ 1.47 2024
middle half of the sector
20182024
Return on assets (ROA)
-10.7%
▼ 51.8pp 2024
lowest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line2018201920202021202220232024
Operating result-€12,717-€15,190€27,564▲ 81.5%€24,954▼ 9.5%€3,398▼ 86.4%€205,486▲ 60×-€23,494
Net result-€17,536-€10,890€18,255within the sector's middle half▲ 67.6%€16,328below the sector's middle half▼ 10.6%€1,706below the sector's middle half▼ 89.5%€150,987above the sector's middle half▲ 88×-€35,788below the sector's middle half
Equity€87,646-€98,535▲ 12.4%€116,791within the sector's middle half▲ 18.5%€133,119within the sector's middle half▲ 14.0%€134,825within the sector's middle half▲ 1.3%€285,812within the sector's middle half▲ 112%€250,024within the sector's middle half▼ 12.5%
Total assets€356,016-€356,533▲ 0.1%€290,558within the sector's middle half▼ 18.5%€306,844within the sector's middle half▲ 5.6%€301,949within the sector's middle half▼ 1.6%€367,327within the sector's middle half▲ 21.7%€333,251within the sector's middle half▼ 9.3%
Debt€247,977-€238,762▼ 3.7%€150,994▼ 36.8%€152,108▲ 0.7%€146,663▼ 3.6%€28,262▼ 80.7%€29,974▲ 6.1%
Working capital€43,559-€52,451▲ 20.4%€109,574within the sector's middle half▲ 109%€122,493within the sector's middle half▲ 11.8%€120,644within the sector's middle half▼ 1.5%€134,865within the sector's middle half▲ 11.8%€99,077within the sector's middle half▼ 26.5%
Solvency24.6%-27.6%▲ 3.0pp40.2%within the sector's middle half▲ 12.6pp43.4%within the sector's middle half▲ 3.2pp44.7%within the sector's middle half▲ 1.3pp77.8%within the sector's middle half▲ 33.2pp75.0%within the sector's middle half▼ 2.8pp
Current ratio3.78-4.01▲ 0.2311.30above the sector's middle half▲ 7.297.32above the sector's middle half▼ 3.986.56above the sector's middle half▼ 0.765.77within the sector's middle half▼ 0.794.31within the sector's middle half▼ 1.47
Return on assets (ROA)-4.9%-3.1%▲ 8.0pp6.3%within the sector's middle half▲ 3.2pp5.3%below the sector's middle half▼ 1.0pp0.6%below the sector's middle half▼ 4.8pp41.1%above the sector's middle half▲ 40.5pp-10.7%below the sector's middle half▼ 51.8pp
above within below The sector band is the middle half of the companies in Human health activities (NACE 86). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2024 is a loss of €23,494, after a profit of €205,486 in 2023. It is the lowest result since 2018.

Large changes and their cause
  • 2023 Net result +8,748% on 2022. The 2023 profit included a one-off income of €225,764.

Turnover and EBIT margin are not published. The micro format does not require them.

Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €333,251
Fixed assets €204,200 =
Current assets €129,051 ▼ 20.9%
Equity and liabilities €333,251
Equity €250,024 ▼ 12.5%
Provisions €53,252 =
Debt €29,974 ▲ 6.1%
Debt's share of the balance-sheet total rises from 7.7% to 9.0%. Equity is lower and debt is higher.
Key figures and ratios
2024 value · change against 2023
Debt to equity
0.12▲
2023 · 0.10
ROE
-14.3%▼
2023 · 52.8%
Debt ≤ 1 year
€29,974▲
2023 · €28,262
Income taxes
€138▼
2023 · €21,906
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item2021202220232024
Tangible fixed assets--€204,200-
Depreciation and write-downs of the year€5,367€5,367--

Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 49 lines
Balance sheet Code20232024
Assets
Total assets20/58€367,327€333,251▼
Fixed assets21/28€204,200€204,200=
Tangible fixed assets22/27€204,200€204,200=
Other tangible fixed assets26€204,200€204,200=
Current assets29/58€163,127€129,051▼
Amounts receivable after more than one year29€131,271€39,308▼
Other amounts receivable291€131,271€39,308▼
Amounts receivable within one year40/41-€89,208
Other amounts receivable41-€89,208
Cash at bank and in hand54/58€30,499€144▼
Deferred charges and accrued income490/1€1,357€391▼
Equity and liabilities
Total equity and liabilities10/49€367,327€333,251▼
Equity10/15€285,812€250,024▼
Contributions10/11€18,592€18,592=
Reserves13€267,220€231,432▼
Tax-exempt reserves132€159,757€159,757=
Distributable reserves133€107,463€71,675▼
Provisions and deferred taxes16€53,252€53,252=
Deferred taxes168€53,252€53,252=
Amounts payable17/49€28,262€29,974▲
Amounts payable within one year42/48€28,262€29,974▲
Current portion of amounts payable after more than one year42€823-
Financial debts43-€4,739
Credit institutions430/8-€4,739
Trade debts44€604€3,191▲
Suppliers440/4€604€3,191▲
Taxes, remuneration and social security45€26,836€22,044▼
Taxes450/3€26,836€22,044▼
Income statement Code20232024
Non-recurring operating income76A€225,764-
Other operating charges640/8€3,201€1,078▼
Gross operating margin9900€208,686-€22,416▼
Operating profit (loss)9901€205,486-€23,494▼
Financial income75/76B€5,684€5,264▼
Recurring financial income75€5,684€5,264▼
Financial charges65/66B€5,484€17,420▲
Recurring financial charges65€5,484€1,505▼
Non-recurring financial charges66B-€15,915
Profit (loss) for the period before taxes9903€205,685-€35,650▼
Transfer from deferred taxes780€20,461-
Transfer to deferred taxes680€53,252-
Income taxes67/77€21,906€138▼
Profit (loss) for the period9904€150,987-€35,788▼
Transfer from tax-exempt reserves789€46,093-
Transfer to tax-exempt reserves689€159,757-
Profit (loss) for the period to be appropriated9905€37,323-€35,788▼
Appropriation of the result
Profit (loss) to be appropriated9906€37,323-€35,788▼
Transfer from equity791/2-€35,788
Transfer to equity691/2€37,323-
To other reserves6921€37,323-

The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2024 (PDF), filed on 30-09-2025.

Line2018201920202021202220232024Change
Non-recurring operating income76A-----€225,764--
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18,688€10,138€5,097€5,367€5,367---
Other operating charges640/8---€2,388€2,523€3,201€1,078▼ 66.3%
Gross operating margin9900€9,634€28,837€35,587€32,709€11,287€208,686-€22,416-
Operating profit (loss)9901-€12,717€15,190€27,564€24,954€3,398€205,486-€23,494-
Financial income75/76B---€4,015€6,570€5,684€5,264▼ 7.4%
Recurring financial income75€1,601€2,076€3,893€4,015€6,570€5,684€5,264▼ 7.4%
Financial charges65/66B---€4,800€4,489€5,484€17,420▲ 218%
Recurring financial charges65€7,095€6,890€7,144€4,800€4,489€5,484€1,505▼ 72.6%
Non-recurring financial charges66B------€15,915-
Profit (loss) for the period before taxes9903-€18,211€10,376€24,313€24,169€5,479€205,685-€35,650-
Transfer from deferred taxes780---€1,156€1,156€20,461--
Transfer to deferred taxes680-----€53,252--
Income taxes67/77€481€642€2,521€8,998€4,929€21,906€138▼ 99.4%
Profit (loss) for the period9904-€17,536€10,890€18,255€16,328€1,706€150,987-€35,788-
Transfer from tax-exempt reserves789---€2,347€2,347€46,093--
Transfer to tax-exempt reserves689-----€159,757--
Profit (loss) for the period to be appropriated9905-€15,188€13,237€6,524€18,675€4,054€37,323-€35,788-
Line2018201920202021202220232024Change
Assets
Total assets20/58€356,016€356,533€290,558€306,844€301,949€367,327€333,251▼ 9.3%
Fixed assets21/28€296,768€286,631€170,346€164,979€159,612€204,200€204,200=
Tangible fixed assets22/27€296,392€286,255€169,970€164,603€159,236€204,200€204,200=
Land and buildings22---€163,109€158,150---
Plant, machinery and equipment23---€1,494€1,086---
Other tangible fixed assets26-----€204,200€204,200=
Financial fixed assets28€376€376€376€376€376---
Current assets29/58€59,247€69,903€120,212€141,865€142,337€163,127€129,051▼ 20.9%
Amounts receivable after more than one year29---€35,000€30,000€131,271€39,308▼ 70.1%
Other amounts receivable291---€35,000€30,000€131,271€39,308▼ 70.1%
Amounts receivable within one year40/41€4,141€20,413€52,020€74,541€96,800-€89,208-
Other amounts receivable41---€74,541€96,800-€89,208-
Cash at bank and in hand54/58€523€250€27,777€31,904€14,965€30,499€144▼ 99.5%
Deferred charges and accrued income490/1---€419€572€1,357€391▼ 71.2%
Equity and liabilities
Total equity and liabilities10/49€356,016€356,533€290,558€306,844€301,949€367,327€333,251▼ 9.3%
Equity10/15€87,646€98,535€116,791€133,119€134,825€285,812€250,024▼ 12.5%
Contributions10/11€18,592€18,592-€18,592€18,592€18,592€18,592=
Reserves13€69,054€79,943€98,199€114,527€116,233€267,220€231,432▼ 13.4%
Non-distributable reserves130/1---€1,859€1,859---
Reserves not available under the articles1311---€1,859€1,859---
Tax-exempt reserves132---€48,440€46,093€159,757€159,757=
Distributable reserves133---€64,227€68,281€107,463€71,675▼ 33.3%
Provisions and deferred taxes16€20,393€19,237€22,773€21,617€20,461€53,252€53,252=
Deferred taxes168---€21,617€20,461€53,252€53,252=
Amounts payable17/49€247,977€238,762€150,994€152,108€146,663€28,262€29,974▲ 6.1%
Amounts payable after more than one year17€232,289€221,310€140,355€132,736€124,970---
Financial debts170/4---€132,736€124,970---
Amounts payable within one year42/48€15,688€17,451€10,639€19,372€21,693€28,262€29,974▲ 6.1%
Current portion of amounts payable after more than one year42---€7,619€7,766€823--
Financial debts43------€4,739-
Credit institutions430/8------€4,739-
Trade debts44€1,356€1,024-€234-€604€3,191▲ 428%
Suppliers440/4---€234-€604€3,191▲ 428%
Taxes, remuneration and social security45---€11,519€13,927€26,836€22,044▼ 17.9%
Taxes450/3---€11,519€13,927€26,836€22,044▼ 17.9%
Line2018201920202021202220232024Change
Profit (loss) for the period9904-€17,536€10,890€18,255€16,328€1,706€150,987-€35,788-
+ Depreciation and write-downs630€18,688€10,138€5,097€5,367€5,367---
Operating cash flow (approximation)€1,152€21,027€23,352€21,695€7,073€150,987-€35,788-
Investment in fixed assets (approximation)-€0€111,188€0€0-€44,588€0-
Change in cash--€274€27,528€4,127-€16,939€15,534-€30,354-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 5,831 companies had the same profile as SADUCOM has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.

  • Micro
  • 20 years or older
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more
84.6% was still going
13.4% stopped otherwise
1.7% went bankrupt

Another 0.3% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of SADUCOM itself: 1.5% within 12 months.

Test of the method

The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 5,831 companies, not a prediction for SADUCOM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Latest 10 of 32 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2024 micro format 30-09-2025 2025-00522010 PDF
31-12-2023 micro format 21-11-2024 2024-00603380 PDF
31-12-2022 micro format 31-08-2023 2023-00416985 PDF
31-12-2021 micro format 31-08-2022 2022-20370912 PDF
31-12-2020 micro format 25-10-2021 2021-73100150 PDF
31-12-2019 micro format 25-06-2020 2020-20600013 PDF
31-12-2018 micro format 30-08-2019 2019-60100275 PDF
31-12-2017 micro format 31-07-2018 2018-41100170 PDF
31-12-2016 micro format 28-07-2017 2017-38200434 PDF
31-12-2015 abbreviated format 29-07-2016 2016-38300437 PDF

Show all 32 filings

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