ACTIVE

SADEL

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Financial year 2025 · closed on 31/12/2025

Net result

911,4 k €

-60.7% YoY

Revenue

36,4 M €

-21.3% YoY

Equity

18,9 M €

+5.1% YoY

Workforce

29,5 ETP

-13.2% YoY

What does SADEL do?

SADEL is a Public limited company incorporated in 1975. Its main activity is: Wholesale of metals and metal ores. Its registered office is in Nazareth-De Pinte. It employs on average 29,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0415.013.213

Incorporation

01/04/1975

Legal form

Public limited company

Registered office

Venecoweg 35
9810 Nazareth-De Pinte · FlandreSee on map

Contributed capital

238 259,92 €

Latest accounts

31/12/2025

Average workforce

29,5 ETP

Activities (NACE)

46720Wholesale of metals and metal ores· main 46820Wholesale trade, except of motor vehicles and motorcycles 51520Air transport 70200Management consultancy activities 70220Business and other management consultancy activities 74142Specialised design activities+2

Joint committees (4)

149
14904
200
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	36,4 M €	-21.3%	46,2 M €	-23.1%	60 M €	-26.4%	81,6 M €	-13.0%	93,9 M €	+69.0%	55,5 M €	-4.7%	58,3 M €	-13.2%	67,1 M €	+6.1%	63,2 M €	+18.1%	53,6 M €	-2.1%	54,7 M €	+3.3%	53 M €	+0.9%	52,5 M €	-10.5%	58,7 M €	-4.5%	61,4 M €	+26.1%	48,7 M €	+16.0%	42 M €	-32.4%	62 M €	-20.2%	77,7 M €	+41.4%	54,9 M €
EBITDA	1,1 M €	-61.0%	2,7 M €	-53.8%	5,9 M €	-42.8%	10,3 M €	-25.2%	13,8 M €	+162%	5,3 M €	+21.2%	4,3 M €	-36.1%	6,8 M €	+7.9%	6,3 M €	+73.9%	3,6 M €	-34.1%	5,5 M €	+103%	2,7 M €	+13.4%	2,4 M €	+198%	801,7 k €	-74.1%	3,1 M €	-6.5%	3,3 M €	-18.8%	4,1 M €	+316%	979,7 k €	-82.6%	5,6 M €	+45.2%	3,9 M €
Operating result	1 M €	-62.2%	2,7 M €	-54.1%	5,8 M €	-42.5%	10,1 M €	-5.9%	10,7 M €	+118%	4,9 M €	+18.7%	4,1 M €	-37.7%	6,6 M €	+7.4%	6,2 M €	+77.3%	3,5 M €	-34.2%	5,3 M €	+113%	2,5 M €	+15.7%	2,1 M €	+274%	573,4 k €	-80.7%	3 M €	-1.3%	3 M €	-22.0%	3,9 M €	+404%	767,9 k €	-85.6%	5,3 M €	+48.8%	3,6 M €
Net result	911,4 k €	-60.7%	2,3 M €	-50.3%	4,7 M €	-46.3%	8,7 M €	-8.5%	9,5 M €	+179%	3,4 M €	-13.5%	3,9 M €	-20.2%	4,9 M €	+26.7%	3,9 M €	+51.9%	2,6 M €	-41.0%	4,3 M €	+90.9%	2,3 M €	+33.4%	1,7 M €	+108%	821,7 k €	-60.6%	2,1 M €	-24.2%	2,8 M €	-1.5%	2,8 M €	+442%	515,2 k €	-84.1%	3,2 M €	+41.8%	2,3 M €
Balance sheet
Equity	18,9 M €	+5.1%	18 M €	-36.2%	28,2 M €	-4.4%	29,5 M €	-29.5%	41,8 M €	+21.7%	34,4 M €	-7.1%	37 M €	+5.4%	35,1 M €	-3.0%	36,2 M €	+12.1%	32,3 M €	+7.7%	30 M €	+16.9%	25,6 M €	+9.7%	23,4 M €	+7.9%	21,6 M €	+3.9%	20,8 M €	+11.1%	18,7 M €	+17.2%	16 M €	+21.2%	13,2 M €	+4.1%	12,7 M €	+34.2%	9,4 M €
Total assets	24,8 M €	+6.2%	23,3 M €	-42.2%	40,4 M €	-28.6%	56,6 M €	-1.4%	57,4 M €	+30.3%	44 M €	+3.7%	42,4 M €	-5.1%	44,7 M €	+9.6%	40,8 M €	+11.8%	36,5 M €	+12.9%	32,4 M €	-2.3%	33,1 M €	+14.4%	29 M €	-7.3%	31,2 M €	+3.0%	30,3 M €	+7.7%	28,2 M €	+18.7%	23,7 M €	+5.7%	22,5 M €	-23.9%	29,5 M €	+1.4%	29,1 M €
Cash	4,5 M €	-36.1%	7,1 M €	+14.7%	6,2 M €	-67.5%	19 M €	+36.7%	13,9 M €	-35.2%	21,4 M €	+23.3%	17,4 M €	-1.8%	17,7 M €	+31.7%	13,4 M €	-4.1%	14 M €	+28.5%	10,9 M €	+77.6%	6,1 M €	-9.5%	6,8 M €	+190%	2,3 M €	-38.7%	3,8 M €	+184%	1,3 M €	-18.0%	1,6 M €	+105%	798 k €	-64.1%	2,2 M €	+120%	1 M €
Debts	3,2 M €	+22.0%	2,6 M €	-72.7%	9,5 M €	-61.1%	24,4 M €	+91.0%	12,8 M €	+32.7%	9,6 M €	+77.7%	5,4 M €	-43.5%	9,6 M €	+108%	4,6 M €	+9.2%	4,2 M €	+77.2%	2,4 M €	-67.6%	7,3 M €	+31.9%	5,6 M €	-41.4%	9,5 M €	+0.4%	9,5 M €	+1.1%	9,4 M €	+34.5%	7 M €	-17.5%	8,4 M €	-47.0%	15,9 M €	-15.3%	18,8 M €
Other
Workforce	29,5 ETP	-13.2%	34,0 ETP	-8.6%	37,2 ETP	-11.8%	42,2 ETP	+3.2%	40,9 ETP	-7.9%	44,4 ETP	+0.7%	44,1 ETP	+15.1%	38,3 ETP	+9.4%	35,0 ETP	-10.9%	39,3 ETP	-1.5%	39,9 ETP	+1.5%	39,3 ETP	-2.5%	40,3 ETP	+0.5%	40,1 ETP	+16.2%	34,5 ETP	-7.0%	37,1 ETP	-7.2%	40,0 ETP	-7.2%	43,1 ETP	-1.8%	43,9 ETP	+2.1%	43,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 45 ended

Active mandates

TIA - DELFIN

Director · since 01 avril 2026 · 0629.884.742

Represented by Christiane Van Ryckeghem

Active

Christiane Van Ryckeghem

Director · since 28 juin 2024 · until 01 avril 2026

Active

TIA - DELFIN

Director · since 28 juin 2024 · until 23 mai 2025 · 0629.884.742

Represented by Johan De Letter

Active

Ended mandates

Christiane Van Ryckeghem

Managing director · since 28 juin 2024 · until 11 mai 2026

Ended

TIA - DELFIN

Managing director · since 28 juin 2024 · until 11 mai 2026 · 0629.884.742

Represented by Christiane VAN RYCKEGHEM

Ended

Christiane Van Ryckeghem

Managing director · since 26 août 2022 · until 13 mai 2024

Ended

Christiane Van Ryckeghem

Managing director · since 26 août 2022 · until 28 juin 2024

Ended

At this address

Other companies at this address

Company	CBE no.
CARGOBEL LOGISTICS● Active	0877.546.132
Deby● Active	0427.956.377
DELKA● Active	0507.748.973
S.E. AUTOMATION● Liquidation	0454.072.539
S.E. INDUSTRIES● Active	0416.354.286
TIA - DELFIN● Active	0629.884.742

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/10/2020	01/10/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	15 months	12 months
Filing date	28/07/2026	31/07/2025	16/07/2024	30/08/2023	31/08/2022	24/03/2021
General meeting	27/07/2026	30/07/2025	28/06/2024	28/08/2023	26/08/2022	15/03/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	27/07/2026	28/07/2026	Dutch	PDF
Full model	31/12/2024	30/07/2025	31/07/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	16/07/2024	Dutch	PDF
Full model	31/12/2022	28/08/2023	30/08/2023	Dutch	PDF
Full model	31/12/2021	26/08/2022	31/08/2022	Dutch	PDF
Full model	30/09/2020	15/03/2021	24/03/2021	Dutch	PDF
Full model	30/09/2019	18/02/2020	28/02/2020	Dutch	PDF
Full model	30/09/2018	16/02/2019	22/02/2019	Dutch	PDF
Full model	30/09/2017	31/03/2018	03/04/2018	Dutch	PDF
Full model	30/09/2016	18/02/2017	24/02/2017	Dutch	PDF
Full model	30/09/2015	20/02/2016	26/02/2016	Dutch	PDF
Full model	30/09/2014	21/02/2015	24/02/2015	Dutch	PDF
Full model	30/09/2013	22/03/2014	25/04/2014	Dutch	PDF
Full model	30/09/2012	30/03/2013	11/04/2013	Dutch	PDF
Full modelCorrection	30/09/2011	28/04/2012	20/11/2012	Dutch	PDF
Full model	30/09/2011	28/04/2012	30/04/2012	Dutch	PDF
Full model	30/09/2010	19/05/2011	31/05/2011	Dutch	PDF
Full model	30/09/2009	20/02/2010	30/04/2010	Dutch	PDF
Full model	30/09/2008	21/02/2009	11/03/2009	Dutch	PDF
Full model	30/09/2007	16/02/2008	01/04/2008	Dutch	PDF
Full model	30/09/2006	17/02/2007	02/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 45 ended

Active mandates

TIA - DELFIN

Director · since 01 avril 2026 · 0629.884.742

Represented by Christiane Van Ryckeghem

Active

Christiane Van Ryckeghem

Director · since 28 juin 2024 · until 01 avril 2026

Active

TIA - DELFIN

Director · since 28 juin 2024 · until 23 mai 2025 · 0629.884.742

Represented by Johan De Letter

Active

Ended mandates

Christiane Van Ryckeghem

Managing director · since 28 juin 2024 · until 11 mai 2026

Ended

TIA - DELFIN

Managing director · since 28 juin 2024 · until 11 mai 2026 · 0629.884.742

Represented by Christiane VAN RYCKEGHEM

Ended

Christiane Van Ryckeghem

Managing director · since 26 août 2022 · until 13 mai 2024

Ended

Christiane Van Ryckeghem

Managing director · since 26 août 2022 · until 28 juin 2024

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring29/12/2023
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring16/10/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates30/11/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/04/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/10/2021
ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates30/04/2021
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

01/04/2026
nominationTIA-DELFIN BV — bestuurder
2025
Annual accounts 2025911,4 k €↓
2024
Annual accounts 20242,3 M €↓
28/06/2024
reconductionTIA-Delfin BV — bestuurder
28/06/2024
reconductionChristiane Van Ryckeghem — bestuurder
2023
Annual accounts 20234,7 M €↓
01/01/2023
augmentation_capitalT.f.A-DELFIN
2022
Annual accounts 20228,7 M €↓
26/08/2022
reconductionChristiane Van Ryckeghem — bestuurder
26/08/2022
reconductionTIA-Delfin — bestuurder
26/08/2022
reconductionGeert Blancke — bestuurder
26/08/2022
nominationChristiane Van Ryckeghem — gedelegeerd bestuurder
2021
Annual accounts 20219,5 M €↑
2020
Annual accounts 20203,4 M €↓
2019
Annual accounts 20193,9 M €↓
2018
Annual accounts 20184,9 M €↑
2017
Annual accounts 20173,9 M €↑
2016
Annual accounts 20162,6 M €↓
2015
Annual accounts 20154,3 M €↑
2014
Annual accounts 20142,3 M €↑
2013
Annual accounts 20131,7 M €↑
2012
Annual accounts 2012821,7 k €↓
2011
Annual accounts 20112,1 M €↓
2010
Annual accounts 20102,8 M €↓
2009
Annual accounts 20092,8 M €↑
2008
Annual accounts 2008515,2 k €↓
2007
Annual accounts 20073,2 M €↑
2006
Annual accounts 20062,3 M €
01/04/1975
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

SADEL

Overview

What does SADEL do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline