SIDICO
ActiveSummary
SIDICO has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €462,943 and a net result of -€43,414. Equity is growing by ~12.1% per year across the filed fiscal years. Its solvency ranks better than 31% of 647 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2023
Profitability42▲+36
Solvency49▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days acceptable
Liquidity tight (current ratio 1.05 against 0.97 in 2023; short-term debt: 67.4% and cash: 12.6% of total assets), and 76.4% of the assets are financed with debt.
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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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 04-11-2025, 88 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
88 d early
2023
on the day
2022
2 d late
2021
5 d early
2020
2 d early
2019
1 d early
2018
32 d early
← 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 18 days before the deadline; the sector median for financial year 2023 is 4 days before the deadline, and 40% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, full schema
In the rankings
#5 employer in Koekelberg
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€43,414▲ 77.8%
2023 · -€195,408
Working capital
€65,043
2023 · -€42,205
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 10, Manufacture of food products, 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
Line20202021202220232025
Operating result€43,177▼ 20.3%€232,285▲ 438%-€133,883-€196,414▼ 46.7%€149,500-
Net result€27,937within the sector's middle half▲ 3.7%€137,997within the sector's middle half▲ 394%-€115,531below the sector's middle half-€195,408below the sector's middle half▼ 69.1%-€43,414below the sector's middle half-
Equity€262,092within the sector's middle half▲ 10.2%€506,293within the sector's middle half▲ 93.2%€860,860within the sector's middle half▲ 70.0%€506,357within the sector's middle half▼ 41.2%€462,943within the sector's middle half-
Total assets€1.1mwithin the sector's middle half▼ 16.0%€1.6mwithin the sector's middle half▲ 45.9%€2.0mwithin the sector's middle half▲ 21.5%€1.9mwithin the sector's middle half▼ 5.7%€2.0mwithin the sector's middle half-
Debt€866,831▼ 21.7%€1.1m▲ 31.6%€1.1m=€1.3m▲ 10.3%€1.4m-
Working capital€110,731▲ 243%€211,226▲ 90.8%€52,745▼ 75.0%-€42,205€65,043-
Solvency23.2%within the sector's middle half▲ 5.5pp30.7%within the sector's middle half▲ 7.5pp43.0%within the sector's middle half▲ 12.3pp26.8%within the sector's middle half▼ 16.2pp23.6%within the sector's middle half-
Staff (FTE)52.9within the sector's middle half▼ 2.8%52.5within the sector's middle half▼ 0.8%51.4within the sector's middle half▼ 2.1%55within the sector's middle half▲ 7.0%59.9within the sector's middle half-
above
within
below
the middle half (P25 to P75) of NACE 10, Manufacture of food products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result is €149,500 in 2025, compared with -€196,414 in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €2.0m
Fixed assets
€575,839 ▼ 18.8%
Current assets
€1.4m ▲ 17.7%
Equity and liabilities €2.0m
Equity
€462,943 ▼ 8.6%
Provisions
€97,939 ▼ 20.5%
Debt
€1.4m ▲ 11.5%
Debt's share of the balance-sheet total rises from 66.6% to 71.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€375,405▲
2023 · -€57,623
Cash flow
€182,491▲
2023 · -€56,617
Current ratio
1.05▲
2023 · 0.97
Quick ratio
0.83▲
2023 · 0.77
Debt to equity
3.03▲
2023 · 2.48
ROE
-9.4%▲
2023 · -38.6%
ROA
-2.2%▲
2023 · -10.4%
Interest coverage
3.10▲
2023 · -1.86
Debt ≤ 1 year
€1.3m▲
2023 · €1.2m
Income taxes
€97,170▲
2023 · €15,044
Staff costs
€5.2m▲
2023 · €2.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 367 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a small loss
0.5%
went bankrupt
2.2%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.4% 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 497,058 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% | 1.6% |
| 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 74% 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 367 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 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €500 | - | - |
| Remuneration, social security and pensions62 | - | €2.0m | €2.4m | €2.7m | €5.2m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €105,117 | €97,787 | €151,500 | €138,791 | €225,905 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€877 | - | - | - | - |
| Other operating charges640/8 | - | €43,228 | €314,785 | €9,231 | €41,935 | - |
| Non-recurring operating charges66A | - | - | €15,837 | - | €6,387 | - |
| Gross operating margin9900 | €2.3m | €2.4m | €2.7m | €2.7m | €5.6m | - |
| Operating profit (loss)9901 | €43,177 | €232,285 | -€133,883 | -€196,414 | €149,500 | - |
| Financial income75/76B | - | €25,231 | €20,992 | €21,678 | €1 | - |
| Recurring financial income75 | €26,951 | €25,231 | €20,992 | €21,678 | €1 | - |
| Financial charges65/66B | - | €17,565 | €14,734 | €30,916 | €121,033 | - |
| Recurring financial charges65 | €19,651 | €17,565 | €14,734 | €30,916 | €121,033 | - |
| Profit (loss) for the period before taxes9903 | €50,478 | €239,951 | -€127,626 | -€205,652 | €28,468 | - |
| Transfer from deferred taxes780 | - | - | - | €25,288 | €25,288 | - |
| Income taxes67/77 | €22,541 | €101,953 | -€12,095 | €15,044 | €97,170 | - |
| Profit (loss) for the period9904 | €27,937 | €137,997 | -€115,531 | -€195,408 | -€43,414 | - |
| Transfer from tax-exempt reserves789 | - | €20,000 | €66,006 | €75,863 | €75,863 | - |
| Profit (loss) for the period to be appropriated9905 | €27,937 | €157,997 | -€49,525 | -€119,545 | €32,449 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.6m | €2.0m | €1.9m | €2.0m | - |
| Fixed assets21/28 | €193,817 | €327,419 | €808,115 | €708,791 | €575,839 | - |
| Tangible fixed assets22/27 | €191,217 | €324,819 | €804,358 | €703,062 | €570,110 | - |
| Land and buildings22 | - | €31,500 | €139,038 | €157,911 | €146,062 | - |
| Plant, machinery and equipment23 | - | €206,579 | €583,673 | €481,426 | €394,507 | - |
| Furniture and vehicles24 | - | €56,609 | €43,530 | €26,948 | €3,346 | - |
| Leasing and similar rights25 | - | €8,480 | - | - | - | - |
| Other tangible fixed assets26 | - | €21,651 | €38,117 | €36,776 | €26,194 | - |
| Financial fixed assets28 | €2,600 | €2,600 | €3,757 | €5,729 | €5,729 | - |
| Current assets29/58 | €935,106 | €1.3m | €1.2m | €1.2m | €1.4m | - |
| Stocks and contracts in progress3 | €240,097 | €235,844 | €235,844 | €234,749 | €288,614 | - |
| Stocks30/36 | - | €235,844 | €235,844 | €234,749 | €288,614 | - |
| Amounts receivable within one year40/41 | €589,953 | €594,421 | €817,944 | €752,232 | €826,563 | - |
| Trade receivables40 | - | €187,016 | €341,679 | €272,373 | €234,977 | - |
| Other amounts receivable41 | - | €407,406 | €476,265 | €479,859 | €591,585 | - |
| Cash at bank and in hand54/58 | €105,056 | €486,342 | €124,984 | €191,725 | €246,955 | - |
| Deferred charges and accrued income490/1 | - | €3,305 | €14,690 | - | €25,150 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.6m | €2.0m | €1.9m | €2.0m | - |
| Equity10/15 | €262,092 | €506,293 | €860,860 | €506,357 | €462,943 | - |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | - |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | - |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | - |
| Revaluation surpluses12 | - | €171 | €171 | - | - | - |
| Reserves13 | €70,209 | €250,209 | €664,265 | €375,879 | €300,016 | - |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | - |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | - |
| Tax-exempt reserves132 | - | €180,000 | €594,056 | €369,679 | €293,816 | - |
| Distributable reserves133 | - | €64,009 | €64,009 | - | - | - |
| Profit (loss) carried forward14 | €95,542 | €173,539 | €124,015 | €68,478 | €100,928 | - |
| Investment grants15 | - | €20,374 | €10,410 | - | - | - |
| Provisions and deferred taxes16 | - | - | - | €123,226 | €97,939 | - |
| Deferred taxes168 | - | - | - | €123,226 | €97,939 | - |
| Amounts payable17/49 | €866,831 | €1.1m | €1.1m | €1.3m | €1.4m | - |
| Amounts payable after more than one year17 | €41,141 | €31,038 | - | €37,002 | - | - |
| Financial debts170/4 | - | €31,038 | - | €37,002 | - | - |
| Amounts payable within one year42/48 | €824,374 | €1.1m | €1.1m | €1.2m | €1.3m | - |
| Current portion of amounts payable after more than one year42 | - | - | €187,268 | €127,503 | €205,276 | - |
| Financial debts43 | - | €132,330 | €51,233 | - | - | - |
| Credit institutions430/8 | - | €132,330 | €51,233 | - | - | - |
| Trade debts44 | €403,219 | €560,947 | €422,196 | €631,994 | €812,418 | - |
| Suppliers440/4 | - | €560,947 | €422,196 | €631,994 | €812,418 | - |
| Taxes, remuneration and social security45 | - | €340,384 | €434,795 | €461,414 | €304,545 | - |
| Taxes450/3 | - | €89,450 | €56,764 | €10,575 | €76,496 | - |
| Remuneration and social security454/9 | - | €250,934 | €378,031 | €450,838 | €228,049 | - |
| Other amounts payable47/48 | - | €75,024 | €45,224 | - | - | - |
| Accrued charges and deferred income492/3 | - | €1,315 | - | - | €80,000 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,937 | €137,997 | -€115,531 | -€195,408 | -€43,414 | - |
| + Depreciation and write-downs630 | €105,117 | €97,787 | €151,500 | €138,791 | €225,905 | - |
| Operating cash flow (approximation) | €133,054 | €235,784 | €35,969 | -€56,617 | €182,491 | - |
| Investment in fixed assets (approximation) | - | -€231,389 | -€632,196 | -€39,467 | - | - |
| Change in cash | - | €381,285 | -€361,357 | €66,741 | - | - |
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
2025
04-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-09
Financial
Weakest financial yearnet -€195,408
Net result drops to -€195,408, the lowest in the series; recovery starts the following year.
02-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 2 days late
2022
25-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-09
Financial
Highest result since 2018net €137,997 ▲394%
Operating result €232,285, net result €137,997, both a record.
30-09
Financial
Equity above €500,000Eq €506,293 ▲93.2%
4 profitable years in a row build equity to €506,293.
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
29-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
30-03
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Koekelberg · 3 establishment units since 1987
Ground area
1,722 m²
Building footprint
1,376 m²
Volume, LiDAR
12,371 m³
3 parcels, Brussels · tallest building 19.5 m, ±5 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
3 establishment units
SI.DI.CO
since 19872.033.325.678
Patisserie Sirre
since 20082.177.010.788
Dendermondsestraat 210, 1083 Ganshoren
since 20162.258.265.908
3 parcels
Brussels
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21392A0058/00Y010 | Brussels | 1,282 m² | 1 · 936 m² | 12.7 m · 2 fl. |
| 21011A0042/00G006 | Brussels | 305 m² | 1 · 305 m² | 18.8 m · 5 fl. |
| 21464E0002/02E004 | Brussels | 135 m² | 1 · 135 m² | 19.5 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 500 EUR awarded · 500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 500 EUR | 500 EUR |
Schemes
Recognitions · licences · registrations
Food safety, FASFC
3 sitesKoekelberg2.033.325.678
Ganshoren2.258.265.908
Jette2.177.010.788
Dual-learning approval
1 live approval · 1 endedBrood- en banketbakkerij duaal (so)
Show 1 ended approval
Brood- en banketbakkerij duaal (so)
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Of 4,228 companies in sector 10712 we hold annual accounts for 1,874. 1,256 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
Founded12-02-1987
Fiscal year end30-06
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
E-invoicing
Reachable via Peppol
Peppol ID
0208:0430451257
Also
9925:BE0430451257
Registered
24-11-2023
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.