SEDAK
ActiveSummary
SEDAK has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€27,576) and a net result of -€43,672. Equity is shrinking by ~17.6% per year across the filed fiscal years. Its solvency ranks better than 15% of 11502 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency6▼-27
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.34 against 1.86 in 2024; short-term debt: 57.4% and cash: 0.5% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
-18.8%
Return on assets
-29.7%
Age of the figures
12 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€27,576
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
11 d early
2022
316 d late
2021
5 d late
2020
1 d early
2019
11 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 45 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€27,576
2024 · €16,096
Total assets
€146,886▼ 27.5%
2024 · €202,736
Net result
-€43,672▼ 21.7%
2024 · -€35,885
Working capital
€28,760▼ 60.8%
2024 · €73,410
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€11,838▲ 42.9%-€18,085-€368▲ 98.0%-€32,543▼ 8,739%-€40,763▼ 25.3%
Net result€6,906within the sector's middle half▲ 156%-€25,863below the sector's middle half-€3,881within the sector's middle half▲ 85.0%-€35,885below the sector's middle half▼ 825%-€43,672below the sector's middle half▼ 21.7%
Equity€81,726within the sector's middle half▲ 9.2%€55,863within the sector's middle half▼ 31.6%€51,982within the sector's middle half▼ 6.9%€16,096within the sector's middle half▼ 69.0%-€27,576below the sector's middle half
Total assets€242,610within the sector's middle half▼ 5.6%€215,297within the sector's middle half▼ 11.3%€211,117within the sector's middle half▼ 1.9%€202,736within the sector's middle half▼ 4.0%€146,886within the sector's middle half▼ 27.5%
Debt€160,884▼ 11.6%€159,434▼ 0.9%€159,135▼ 0.2%€186,640▲ 17.3%€174,462▼ 6.5%
Working capital€125,257above the sector's middle half▲ 5.6%€104,683within the sector's middle half▼ 16.4%€105,293within the sector's middle half▲ 0.6%€73,410within the sector's middle half▼ 30.3%€28,760within the sector's middle half▼ 60.8%
Solvency33.7%within the sector's middle half▲ 4.6pp25.9%within the sector's middle half▼ 7.7pp24.6%within the sector's middle half▼ 1.3pp7.9%within the sector's middle half▼ 16.7pp-18.8%below the sector's middle half▼ 26.7pp
Current ratio5.09above the sector's middle half▲ 1.333.72above the sector's middle half▼ 1.373.20within the sector's middle half▼ 0.521.86within the sector's middle half▼ 1.341.34within the sector's middle half▼ 0.52
Return on assets (ROA)2.8%within the sector's middle half▲ 1.8pp-12.0%below the sector's middle half▼ 14.9pp-1.8%within the sector's middle half▲ 10.2pp-17.7%below the sector's middle half▼ 15.9pp-29.7%below the sector's middle half▼ 12.0pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €40,763 in 2025 against €32,543 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €146,886
Fixed assets
€33,809 ▼ 22.5%
Current assets
€113,077 ▼ 28.9%
Key figures and ratios
EBITDA
-€26,422▼
2024 · -€18,299
Cash flow
-€29,332▼
2024 · -€21,641
Quick ratio
0.21▼
2024 · 0.61
Debt to equity
-6.33▼
2024 · 11.60
Interest coverage
-11.06▼
2024 · -6.26
Debt ≤ 1 year
€84,317▼
2024 · €85,693
Debt > 1 year
€90,145▼
2024 · €100,947
Income taxes
€564▲
2024 · €535
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,639 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.8%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,639 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €17,000 | - | - | - |
| Remuneration, social security and pensions62 | €384 | - | €46 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,880 | €14,575 | €14,245 | €14,245 | €14,341 | ▲ 0.7% |
| Other operating charges640/8 | €2,864 | €3,498 | €2,216 | €2,286 | €5,352 | ▲ 134% |
| Gross operating margin9900 | €28,965 | -€12 | €16,138 | -€16,013 | -€21,070 | ▼ 31.6% |
| Operating profit (loss)9901 | €11,838 | -€18,085 | -€368 | -€32,543 | -€40,763 | ▼ 25.3% |
| Financial income75/76B | €259 | €170 | €185 | €115 | €44 | ▼ 61.7% |
| Recurring financial income75 | €259 | €170 | €185 | €115 | €44 | ▼ 61.7% |
| Financial charges65/66B | €4,823 | €7,373 | €3,172 | €2,923 | €2,390 | ▼ 18.2% |
| Recurring financial charges65 | €4,823 | €7,373 | €3,172 | €2,923 | €2,390 | ▼ 18.2% |
| Profit (loss) for the period before taxes9903 | €7,273 | -€25,288 | -€3,356 | -€35,351 | -€43,108 | ▼ 21.9% |
| Income taxes67/77 | €367 | €575 | €526 | €535 | €564 | ▲ 5.5% |
| Profit (loss) for the period9904 | €6,906 | -€25,863 | -€3,881 | -€35,885 | -€43,672 | ▼ 21.7% |
| Profit (loss) for the period to be appropriated9905 | €6,906 | -€25,863 | -€3,881 | -€35,885 | -€43,672 | ▼ 21.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €242,610 | €215,297 | €211,117 | €202,736 | €146,886 | ▼ 27.5% |
| Fixed assets21/28 | €86,698 | €72,123 | €57,878 | €43,633 | €33,809 | ▼ 22.5% |
| Tangible fixed assets22/27 | €80,811 | €66,236 | €51,992 | €37,747 | €27,923 | ▼ 26.0% |
| Land and buildings22 | €73,840 | €60,871 | €46,629 | €34,933 | €21,964 | ▼ 37.1% |
| Plant, machinery and equipment23 | €4,703 | €3,429 | €2,486 | €1,543 | €4,903 | ▲ 218% |
| Other tangible fixed assets26 | €2,268 | €1,936 | €2,876 | €1,270 | €1,055 | ▼ 16.9% |
| Financial fixed assets28 | €5,886 | €5,886 | €5,886 | €5,886 | €5,886 | = |
| Current assets29/58 | €155,912 | €143,174 | €153,239 | €159,102 | €113,077 | ▼ 28.9% |
| Stocks and contracts in progress3 | €115,820 | €104,250 | €90,625 | €106,930 | €95,075 | ▼ 11.1% |
| Stocks30/36 | €115,820 | €104,250 | €90,625 | €106,930 | €95,075 | ▼ 11.1% |
| Amounts receivable within one year40/41 | €26,137 | €27,780 | €48,541 | €41,445 | €14,257 | ▼ 65.6% |
| Trade receivables40 | €19,813 | €21,426 | €42,005 | €15,156 | €5,082 | ▼ 66.5% |
| Other amounts receivable41 | €6,324 | €6,354 | €6,536 | €26,289 | €9,175 | ▼ 65.1% |
| Cash at bank and in hand54/58 | €13,955 | €11,143 | €14,073 | €8,731 | €788 | ▼ 91.0% |
| Deferred charges and accrued income490/1 | - | - | - | €1,997 | €2,957 | ▲ 48.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €242,610 | €215,297 | €211,117 | €202,736 | €146,886 | ▼ 27.5% |
| Equity10/15 | €81,726 | €55,863 | €51,982 | €16,096 | -€27,576 | ▼ 271% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €31,029 | €31,029 | €24,950 | €24,950 | €24,950 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | €6,079 | €6,079 | - | - | - | - |
| Profit (loss) carried forward14 | -€11,303 | -€37,166 | -€34,968 | -€70,854 | -€114,526 | ▼ 61.6% |
| Amounts payable17/49 | €160,884 | €159,434 | €159,135 | €186,640 | €174,462 | ▼ 6.5% |
| Amounts payable after more than one year17 | €130,229 | €120,943 | €111,190 | €100,947 | €90,145 | ▼ 10.7% |
| Financial debts170/4 | €55,229 | €45,943 | €36,190 | €25,947 | €15,145 | ▼ 41.6% |
| Other amounts payable178/9 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Amounts payable within one year42/48 | €30,655 | €38,491 | €47,946 | €85,693 | €84,317 | ▼ 1.6% |
| Current portion of amounts payable after more than one year42 | €8,842 | €9,286 | €9,753 | €10,243 | €10,802 | ▲ 5.5% |
| Trade debts44 | €1,095 | €10,720 | €19,591 | €16,884 | €18,211 | ▲ 7.9% |
| Suppliers440/4 | €1,095 | €10,720 | €19,591 | €16,884 | €18,211 | ▲ 7.9% |
| Advances received on contracts in progress46 | €5,943 | €8,853 | €15,619 | €15,619 | €9 | ▼ 99.9% |
| Taxes, remuneration and social security45 | €4,761 | €7,237 | €1,977 | €19,274 | €1,099 | ▼ 94.3% |
| Taxes450/3 | €4,761 | €7,237 | €1,977 | €19,274 | €1,099 | ▼ 94.3% |
| Other amounts payable47/48 | €10,014 | €2,395 | €1,006 | €23,673 | €54,197 | ▲ 129% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,906 | -€25,863 | -€3,881 | -€35,885 | -€43,672 | ▼ 21.7% |
| + Depreciation and write-downs630 | €13,880 | €14,575 | €14,245 | €14,245 | €14,341 | ▲ 0.7% |
| Operating cash flow (approximation) | €20,785 | -€11,288 | €10,363 | -€21,641 | -€29,332 | ▼ 35.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€4,516 | - |
| Change in cash | - | -€2,812 | €2,930 | -€5,342 | -€7,943 | ▼ 48.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet -€43,672
Net result drops to -€43,672, the lowest in the series.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
19-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
11-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 316 days late
2022
05-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
11-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 11 days late
2019
30-09
Financial
Back to profitnet €10,360
Net result €10,360 after one loss-making year.
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 4 days late
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Houthalen-Helchteren · 1 establishment unit since 1993
Ground area
821 m²
Building footprint
100 m²
Volume, LiDAR
672 m³
Parcel 72452E1153/00W070, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
SEDAK
since 19932.060.209.031
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72452E1153/00W070 | Flanders | 821 m² | 1 · 100 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
5 categoriesSEDAK NV21694
Food safety, FASFC
1 siteHouthalen-Helchteren2.060.209.031
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TWINUS
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Of 1,049 companies in sector 46341 we hold annual accounts for 538. 298 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded08-12-1992
Fiscal year end30-09
Activities, NACEBEL 2025
46341Wholesale of wines and spirits
43320Joinery installation
43410Roofing work
47251Retail sale of wines and spirits
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448897588
Also
9925:BE0448897588
Registered
18-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.