voestalpine SADEF

Active

Public limited companyfounded 199135 yrs activeBruggesteenweg 200, 8830 Hooglede, BelgiumKBO/BCE: BE 0445.281.963

Summary

voestalpine SADEF has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €29.5m and a net result of €14.4m. Equity remains stable across the filed fiscal years (±1.2% per year). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisWatch Report Compare

voestalpine SADEFActiveChecked score 91/100

Risk analysis Report Compare

Activity

Manufacture of basic metals

NACE 24330Manufacture of electrical equipment NACE 27330

#1 employer in West Flanders, Basic metals sector1 site

Size

€235.3mturnover 2026

Staff: 560 FTE
Equity: €29.5m
Profit: €14.4m

Financial health

91 Excellent Checked score 2026

Bankruptcy chance 12 m: 0.1%

Structure

Parent: Voestalpine Metal Forming GmbH · 100%
Board: 6 members
Holdings: 2

Auditor: DELOITTE Bedrijfsrevisoren BVAccounts 61 d early

Why 91- Sector Manufacture of basic metals (NACE 24)+ Size: turnover €235.3m, 560 FTE, total assets €107.8m, files consolidated accounts+ Founded in 1991+ Legal form Public limited companyShow the evidence

Checked score

Score 2026

91 / 100

Excellent

Probability in this band: under 0.55%

Better than 44% of its sector peers (all companies)

Performance against the sector, not lower risk

Every signal that weighs is under Signals.

Financial strength · tick = 2025

Average

Solvency 52-6

equity 27.3% of total assets

Liquidity 22-16

short-term debt 70.0% · cash 7.8%

Profitability 79+1

return on assets 13.4%

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (15 companies)

Last 24 months 11-2024: 0.1% 12-2024: 0.1%● 0.0% vs 11-2024 01-2025: 0.1%▲ +1.9% vs 12-2024 02-2025: 0.1%● 0.0% vs 01-2025 03-2025: 0.1%● 0.0% vs 02-2025 04-2025: 0.1%▼ -2.9% vs 03-2025 05-2025: 0.1%▼ -4.9% vs 04-2025 06-2025: 0.1%● 0.0% vs 05-2025 07-2025: 0.1%▼ -4.1% vs 06-2025lowest value 08-2025: 0.1%▲ +2.2% vs 07-2025 09-2025: 0.1%▼ -2.1% vs 08-2025lowest value 10-2025: 0.1%▲ +33.3% vs 09-2025 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%● 0.0% vs 12-2025 02-2026: 0.1%● 0.0% vs 01-2026 03-2026: 0.1%● 0.0% vs 02-2026 04-2026: 0.1%● 0.0% vs 03-2026 05-2026: 0.1%▼ -4.0% vs 04-2026 06-2026: 0.1%▼ -0.8% vs 05-2026 07-2026: 0.1%▼ -3.4% vs 06-2026 08-2026: 0.1%▲ +1.8% vs 07-2026 09-2026: 0.1%▲ +18.1% vs 08-2026highest value 10-2026: 0.1%● 0.0% vs 09-2026highest value

Size: turnover €235.3m, 560 FTE, total assets €107.8m, files consolidated accounts lowers the probability for this profile
Sector Manufacture of basic metals (NACE 24) raises the probability
Founded in 1991 lowers the probability for this profile
Legal form Public limited company lowers the probability

Credit up to €2,650,000 at 30 days acceptable

Liquidity short (current ratio 0.68 against 0.9 in 2025; short-term debt: 70% and cash: 7.8% of total assets), and 72.7% of the assets are financed with debt.

How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (all companies). Better than this share of them on solvency 42%, liquidity 17%, profitability 81%, growth against the median 37%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Size: turnover €235.3m, 560 FTE, total assets €107.8m, files consolidated accounts

In the bankruptcy model this factor lowers the probability for this profile.

NBB · annual accounts

Sector Manufacture of basic metals (NACE 24)

In the bankruptcy model this factor raises the probability.

KBO

Founded in 1991

In the bankruptcy model this factor lowers the probability for this profile.

KBO

Legal form Public limited company

In the bankruptcy model this factor lowers the probability.

KBO

Latest accounts filed on time

The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 31-08-2026, 61 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2026

61 d early

2025

39 d early

2024

34 d early

2023

42 d early

2022

61 d early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 5 accounts on average 47 days before the deadline; the sector median for financial year 2024 is 16 days before the deadline, and 29% of the sector filed late.

Checked, nothing found (2)

The next deadline is still running

The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. Usually files around 19 September (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Position in the running window

05-10-2026 today31-03-2027 close31-10-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

31-08-26 Annual accounts filedfiscal year 2026 · consolidated
31-08-26 Annual accounts filedfiscal year 2026 · full…
22-12-25 Resignation: PROFMATIC MANAGEMENT BV (director)Permanent representatives: Patrick Vandewaetere, Mike…

Key points

Positive: Employer in West Flanders, Basic metals sectorin the Checked rankings #1 View
Positive: 8 profitable years in a rowprofit 2026: €14.4m 8 years View
Controlled by Voestalpine Metal Forming GmbHknown shareholders 100% 100% View
New directorslatest change 10-10-2025 · 6 in office 2 joined View
Flemish supportawarded 2022 - 2025 €265,460 View
Positive: Always filed on timeaccounts within the deadline every year 5 years View