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badesta sp. z o.o.

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uuid02mbws4

Namestring
badesta sp. z o.o.
Legal namestring
BADESTA ACCOUNTING sp. z o. o.
Websiteurl
badesta.com.pl
Company typeenum
Private
Founded yearint
1994
Descriptiontext

Badesta sp. z o.o. is a Warsaw-based accounting and tax advisory firm founded in 1994 and led by founder-CEO Barbara Bajorek, serving Polish and international small-to-large businesses. The firm delivers outsourced accounting/bookkeeping, HR and payroll, and licensed tax advisory services, with a stated Zero Paper Policy built on electronic document exchange via the Saldeo (primary), Taxxo, and Ebi24 platforms, alongside an in-house e-Pracownik employee self-service portal. Its technology architecture is defined by broad ERP integration coverage — Comarch ERP OPTIMA, SAP Business One, Dynamics 365 Business Central, Enova, Navireo, Symfonia, and AS400 — and proactive adaptation to the Polish National e-Invoice System (KSeF).

The business operates a recurring subscription model with monthly flat-rate fees and per-employee pricing for HR/payroll work, supplemented by hourly billing for additional professional services; pricing is individualized based on client complexity rather than published rate cards. Service delivery is offered in Polish, English, and Spanish across clients in roughly 10 countries, including international entities with foreign capital operating in Poland. The firm is 100% Polish-owned, employs 50+ staff with an average tenure near 10 years, and holds ISO 9001 and ISO/IEC 27001 (2025) certifications, with consecutive Forbes Diamonds recognition in 2023 and 2024.

Operationally, Badesta's competitive position rests on workflow entrenchment rather than scale: dedicated account managers, multi-ERP integration, and standardized electronic document pipelines create switching frictions for clients. The firm's growth signals — ~20% average annual growth over six years, ongoing certification investment, and product surface expansion through e-Pracownik — point to a mature, privately held professional services firm compounding steadily within its niche rather than pursuing venture-scale expansion.

Short descriptiontext

Badesta sp. z o.o. is a Warsaw-based accounting, HR/payroll, and licensed tax advisory firm founded in 1994, serving Polish and international small-to-large businesses with electronic document workflows integrated across multiple ERP platforms.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersWarsaw, Poland
HQ citystring
Warsaw
HQ countrystring
Poland
HQ regionstring
Europe
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
accounting services, payroll administration, tax advisory, bookkeeping services, HR services
Industry3 codes
1Accounting & Bookkeeping Services
CodeBPAHABACPrimaryYes
2Benefits Deductions & Payroll Integration Administration
CodeBPAAAHAFPrimaryNo
3Accounts Receivable (Invoicing, Cash Application, Deductions)
CodeBPAAAGABPrimaryNo
NAICS code4 codes
  • Accounting, Tax Preparation, Bookkeeping, and Payroll Services54121
  • Payroll Services541214
  • Offices of Certified Public Accountants541211
  • Other Accounting Services541219
Product category
Accounting & Tax Advisory Services
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model4 records
1Accounting Services
TypeSubscription Recurring
Description

Monthly flat-rate fees for accounting services, determined individually based on client complexity, document volume, and service scope. Includes compliance and tax advisory within the monthly fee.

badesta.com.pl
2Payroll/HR Services
TypeSubscription Recurring
Description

Per-employee pricing for payroll, HR, and ZUS services. Additional flat-rate components for specific service packages.

badesta.com.pl
3Tax Advisory
TypeSubscription Recurring
Description

Licensed tax advisory services included as part of the accounting service package for existing clients only.

badesta.com.pl
4Additional Services
TypeProfessional Services
Description

Year-end closing, PIT-11, financial statements (100% of monthly fee; 150% for audited entities), mid-year statements, corrections, due diligence support at hourly rates.

badesta.com.pl
Marketing channels3 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels2 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components4 values
Personnel, Operations, Technology or R&D, Marketing or Sales
Pricing details1 tier
1Individual pricing based on client needs
ModelSubscriptionBilling cadenceMonthly
Notes

Monthly flat rates established after analyzing client complexity, document volume, automation level, reporting scope, and accounting system used. Provides cost predictability for clients.

badesta.com.pl
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Badesta Accounting provides outsourced bookkeeping, monthly and annual tax declarations (including VAT), payroll and HR services, and licensed tax advisory to businesses operating in Poland. Each client is assigned a dedicated accounting specialist plus two HR/payroll specialists, with services delivered through fully electronic, paperless document exchange and integrations with multiple ERP and document-management platforms.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 3 values shown
  • 20% average annual growth over 6 years
+2 more records
Product overview1 text field

Badesta Accounting is a Polish accounting, HR/payroll, and licensed tax advisory firm serving demanding clients, including companies with foreign capital. The offering is organized as three integrated core service lines — Usługi księgowe (accounting/bookkeeping), Usługi kadrowo-płacowe (HR & payroll), and Doradztwo podatkowe (tax advisory) — supplemented by technology platforms Saldeo (document circulation), e-Pracownik (employee self-service), Taxxo and Ebi24 (additional document platforms). Tax advisory is only provided to existing accounting clients, tying the product ecosystem together. Badesta operates on a zero-paper, fully electronic document model, processing documents via integrations with KSeF, multiple ERP systems (Comarch ERP Optima, SAP Business One, Dynamics 365 Business Central, Enova, Navireo, Symfonia, AS400), and their own client-facing platforms.

Product and service3 records
1Accounting Services (Usługi księgowe)
CategoryAccounting & Bookkeeping
Description

Full bookkeeping services for Polish and international businesses operating in Poland: general ledger maintenance, VAT handling, monthly and annual tax declarations, financial statements, GUS and NBP statistical reporting, management reporting, and coordination with statutory auditors during audits.

2HR & Payroll Services (Usługi kadrowo-płacowe)
CategoryHR & Payroll Administration
Description

Complete HR and payroll administration covering employment documentation, electronic employee files, payroll processing, ZUS contributions, contract settlements, and electronic work-time and leave management through the e-Pracownik platform.

3Tax Advisory (Doradztwo podatkowe)
CategoryTax Advisory
Description

Licensed tax advisory provided exclusively to existing accounting clients, including tax planning, periodic tax reviews, monitoring of legislative changes, and proactive recommendations to optimise tax positions and ensure compliance.

Scale indicator7 records

Each record includes

Type, Value, Description, Source

Partnership8 partners
Strategic tierPrimaryTypeTechnology or Integration
Description

Comarch ERP OPTIMA is Badesta's primary and preferred accounting and HR-payroll system. The company specializes in this platform for client service delivery.

Strategic tierPrimaryTypeTechnology or Integration
Description

Primary document circulation system for client document exchange, expense/purchase document management, and bank payment generation. Essential platform for paperless operations.

Strategic tierSecondaryTypeTechnology or Integration
Description

Enterprise accounting system used for client service delivery as needed based on client requirements.

Strategic tierSecondaryTypeTechnology or Integration
Description

Cloud ERP solution used for client service delivery as needed based on client requirements.

Strategic tierSecondaryTypeTechnology or Integration
Description

HR and accounting system used for client service delivery as needed based on client requirements.

6Navireo
Strategic tierSecondaryTypeTechnology or Integration
Description

ERP system used for client service delivery as needed based on client requirements.

badesta.com.pl
Strategic tierSecondaryTypeTechnology or Integration
Description

Document management system used for client document circulation alongside Saldeo.

Strategic tierPrimaryTypeGTM or Marketing Partner
Description

Company maintains an active LinkedIn presence (fanpage) for professional networking, content distribution, and marketing activities.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

A leading Polish tax advisory and accounting firm serving mid-market and enterprise clients in Poland, with a multi-office domestic footprint and licensed tax advisory practice — directly comparable in service mix and target segments to Badesta.

TypeDirect peer
Description

Polish member of the RSM International mid-market accounting network, offering audit, tax, and outsourced accounting/payroll to SMB and mid-market companies — directly comparable service model and customer profile.

3Auxilium Księgowość
TypeDirect peer
Description

Polish boutique accounting and payroll services firm focused on SMB and foreign-capital clients in Poland, offering bundled bookkeeping, HR/payroll, and tax advisory — a like-for-like peer for Badesta.

TypeBroad incumbent
Description

Polish member of the global BDO accounting network offering audit, tax, and advisory across Poland with significantly larger scale — comparable in service mix but operates broadly rather than as a boutique.

TypeBroad incumbent
Description

Polish member of the Grant Thornton global advisory network providing audit, tax, and consulting services to mid-market and enterprise clients — overlapping capabilities and customer base with Badesta at larger scale.

TypeBroad incumbent
Description

Polish practice of the Mazars international audit, tax, and advisory network, serving mid-market and large companies in Poland — overlaps with Badesta on outsourced accounting and payroll for international clients.

TypeRegional player
Description

German-origin mid-market accounting and legal firm with a strong Central European footprint, particularly attractive to German-speaking foreign-capital clients operating in Poland — closely comparable on inbound FDI client segment.

TypeBroad incumbent
Description

Polish member of the Crowe Global accounting network providing audit, tax, and advisory services to mid-market and owner-managed businesses — comparable target segment and service bundle.

TypeEmerging player
Description

Polish cloud-based accounting and invoicing SaaS platform serving SMBs with automated bookkeeping and tax filings — competes for the same Polish SMB client base but through a tech-led, self-service model rather than bespoke human advisory.

TypeOthers
Description

Major Polish ERP, payroll, and accounting software vendor whose platforms (Symfonia, Enova) Badesta supports. Relevant as both a partner and an ecosystem participant shaping the technology stack Polish accounting firms must adopt.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers2 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

Integration13 records

Each record includes

Title, Type, Description, Source

AI maturity
App detail

Has app

Feature5 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries1 record

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance3 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

badesta sp. z o.o.

Accounting & Tax Advisory Servicesbadesta.com.pl

Badesta sp. z o.o. is a Warsaw-based accounting, HR/payroll, and licensed tax advisory firm founded in 1994, serving Polish and international small-to-large businesses with electronic document workflows integrated across multiple ERP platforms.

What badesta sp. z o.o. does

Badesta sp. z o.o. is a Warsaw-based accounting and tax advisory firm founded in 1994 and led by founder-CEO Barbara Bajorek, serving Polish and international small-to-large businesses. The firm delivers outsourced accounting/bookkeeping, HR and payroll, and licensed tax advisory services, with a stated Zero Paper Policy built on electronic document exchange via the Saldeo (primary), Taxxo, and Ebi24 platforms, alongside an in-house e-Pracownik employee self-service portal. Its technology architecture is defined by broad ERP integration coverage — Comarch ERP OPTIMA, SAP Business One, Dynamics 365 Business Central, Enova, Navireo, Symfonia, and AS400 — and proactive adaptation to the Polish National e-Invoice System (KSeF).

The business operates a recurring subscription model with monthly flat-rate fees and per-employee pricing for HR/payroll work, supplemented by hourly billing for additional professional services; pricing is individualized based on client complexity rather than published rate cards. Service delivery is offered in Polish, English, and Spanish across clients in roughly 10 countries, including international entities with foreign capital operating in Poland. The firm is 100% Polish-owned, employs 50+ staff with an average tenure near 10 years, and holds ISO 9001 and ISO/IEC 27001 (2025) certifications, with consecutive Forbes Diamonds recognition in 2023 and 2024.

Operationally, Badesta's competitive position rests on workflow entrenchment rather than scale: dedicated account managers, multi-ERP integration, and standardized electronic document pipelines create switching frictions for clients. The firm's growth signals — ~20% average annual growth over six years, ongoing certification investment, and product surface expansion through e-Pracownik — point to a mature, privately held professional services firm compounding steadily within its niche rather than pursuing venture-scale expansion.

badesta sp. z o.o. firmographics

Firmographics
Name
badesta sp. z o.o.
Legal name
BADESTA ACCOUNTING sp. z o. o.
Website
https://badesta.com.pl
Company type
Private
Founded year
1994
Operating status
Operating
Headcount range
11–50 employees
Short description
Badesta sp. z o.o. is a Warsaw-based accounting, HR/payroll, and licensed tax advisory firm founded in 1994, serving Polish and international small-to-large businesses with electronic document workflows integrated across multiple ERP platforms.
Ownership category
akta.pro rank

badesta sp. z o.o. industry classification

Industry
Product category
Accounting & Tax Advisory Services
NAICS
Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121), Payroll Services (541214), Offices of Certified Public Accountants (541211), Other Accounting Services (541219)
akta.pro primary industry
Accounting & Bookkeeping Services (BPAHABAC)
akta.pro secondary industries
Benefits Deductions & Payroll Integration Administration (BPAAAHAF), Accounts Receivable (Invoicing, Cash Application, Deductions) (BPAAAGAB)

Keywords

  • Accounting services
  • Payroll administration
  • Tax advisory
  • Bookkeeping services
  • HR services

Where badesta sp. z o.o. is headquartered

Location

Headquarters

HQ city
Warsaw
HQ country
Poland
HQ region
Europe

Offices1 record

Markets served

badesta sp. z o.o. business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

  1. Accounting Services: Monthly flat-rate fees for accounting services, determined individually based on client complexity, document volume, and service scope. Includes compliance and tax advisory within the monthly fee.
  2. Payroll/HR Services: Per-employee pricing for payroll, HR, and ZUS services. Additional flat-rate components for specific service packages.
  3. Tax Advisory: Licensed tax advisory services included as part of the accounting service package for existing clients only.
  4. Additional Services: Year-end closing, PIT-11, financial statements (100% of monthly fee; 150% for audited entities), mid-year statements, corrections, due diligence support at hourly rates.

Pricing tiers

ModelBillingPrice
SubscriptionMonthlyIndividual pricing based on client needs

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

badesta sp. z o.o. product offering

Product offering

Core offering

Badesta Accounting provides outsourced bookkeeping, monthly and annual tax declarations (including VAT), payroll and HR services, and licensed tax advisory to businesses operating in Poland. Each client is assigned a dedicated accounting specialist plus two HR/payroll specialists, with services delivered through fully electronic, paperless document exchange and integrations with multiple ERP and document-management platforms.

Product overview

Badesta Accounting is a Polish accounting, HR/payroll, and licensed tax advisory firm serving demanding clients, including companies with foreign capital. The offering is organized as three integrated core service lines — Usługi księgowe (accounting/bookkeeping), Usługi kadrowo-płacowe (HR & payroll), and Doradztwo podatkowe (tax advisory) — supplemented by technology platforms Saldeo (document circulation), e-Pracownik (employee self-service), Taxxo and Ebi24 (additional document platforms). Tax advisory is only provided to existing accounting clients, tying the product ecosystem together. Badesta operates on a zero-paper, fully electronic document model, processing documents via integrations with KSeF, multiple ERP systems (Comarch ERP Optima, SAP Business One, Dynamics 365 Business Central, Enova, Navireo, Symfonia, AS400), and their own client-facing platforms.

Differentiator

Problem solved

Functional benefit

Products and services

  • Accounting Services (Usługi księgowe) Full bookkeeping services for Polish and international businesses operating in Poland: general ledger maintenance, VAT handling, monthly and annual tax declarations, financial statements, GUS and NBP statistical reporting, management reporting, and coordination with statutory auditors during audits.
  • HR & Payroll Services (Usługi kadrowo-płacowe) Complete HR and payroll administration covering employment documentation, electronic employee files, payroll processing, ZUS contributions, contract settlements, and electronic work-time and leave management through the e-Pracownik platform.
  • Tax Advisory (Doradztwo podatkowe) Licensed tax advisory provided exclusively to existing accounting clients, including tax planning, periodic tax reviews, monitoring of legislative changes, and proactive recommendations to optimise tax positions and ensure compliance.

Quantifiable outcome

  • 20% average annual growth over 6 years
  • +2 more outcomes

Companies that use badesta sp. z o.o.

Customer profile

Named customers2 records

Segments1 record

Ideal customer profiles1 record

badesta sp. z o.o. technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Integration13 records

Feature5 records

badesta sp. z o.o. partnerships and signals

Strategic signal

Partnerships

Eight partnerships are on record, tiered primary and secondary.

  • ComarchprimaryTechnology or IntegrationComarch ERP OPTIMA is Badesta's primary and preferred accounting and HR-payroll system. The company specializes in this platform for client service delivery.
  • SaldeoprimaryTechnology or IntegrationPrimary document circulation system for client document exchange, expense/purchase document management, and bank payment generation. Essential platform for paperless operations.
  • SAP Business OnesecondaryTechnology or IntegrationEnterprise accounting system used for client service delivery as needed based on client requirements.
  • Microsoft Dynamics 365 Business CentralsecondaryTechnology or IntegrationCloud ERP solution used for client service delivery as needed based on client requirements.
  • EnovasecondaryTechnology or IntegrationHR and accounting system used for client service delivery as needed based on client requirements.
  • NavireosecondaryTechnology or IntegrationERP system used for client service delivery as needed based on client requirements.
  • TaxxosecondaryTechnology or IntegrationDocument management system used for client document circulation alongside Saldeo.
  • LinkedInprimaryGTM or Marketing PartnerCompany maintains an active LinkedIn presence (fanpage) for professional networking, content distribution, and marketing activities.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

badesta sp. z o.o. competitors and assessment

Company assessment

Direct peers

  • MDDP Michalik Dłuska Dziedzic i Partnerzy: A leading Polish tax advisory and accounting firm serving mid-market and enterprise clients in Poland, with a multi-office domestic footprint and licensed tax advisory practice — directly comparable in service mix and target segments to Badesta.
  • RSM Poland: Polish member of the RSM International mid-market accounting network, offering audit, tax, and outsourced accounting/payroll to SMB and mid-market companies — directly comparable service model and customer profile.
  • Auxilium Księgowość: Polish boutique accounting and payroll services firm focused on SMB and foreign-capital clients in Poland, offering bundled bookkeeping, HR/payroll, and tax advisory — a like-for-like peer for Badesta.

Broad incumbents

  • BDO Poland: Polish member of the global BDO accounting network offering audit, tax, and advisory across Poland with significantly larger scale — comparable in service mix but operates broadly rather than as a boutique.
  • Grant Thornton Poland: Polish member of the Grant Thornton global advisory network providing audit, tax, and consulting services to mid-market and enterprise clients — overlapping capabilities and customer base with Badesta at larger scale.
  • Mazars in Poland: Polish practice of the Mazars international audit, tax, and advisory network, serving mid-market and large companies in Poland — overlaps with Badesta on outsourced accounting and payroll for international clients.
  • Crowe Poland: Polish member of the Crowe Global accounting network providing audit, tax, and advisory services to mid-market and owner-managed businesses — comparable target segment and service bundle.

Regional players

  • Rödl & Partner Poland: German-origin mid-market accounting and legal firm with a strong Central European footprint, particularly attractive to German-speaking foreign-capital clients operating in Poland — closely comparable on inbound FDI client segment.

Emerging players

  • inFakt: Polish cloud-based accounting and invoicing SaaS platform serving SMBs with automated bookkeeping and tax filings — competes for the same Polish SMB client base but through a tech-led, self-service model rather than bespoke human advisory.

Others

  • Symfonia (Sage sp. z o.o.): Major Polish ERP, payroll, and accounting software vendor whose platforms (Symfonia, Enova) Badesta supports. Relevant as both a partner and an ecosystem participant shaping the technology stack Polish accounting firms must adopt.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

badesta sp. z o.o. social profiles

Digital presence

badesta sp. z o.o. compliance and trust

Trust signal

Compliance3 records

badesta sp. z o.o. financial estimates

Financial estimate

Revenue estimate

Valuation estimate

badesta sp. z o.o. leadership team

Management profile

Number of profiles

Profiles1 record

badesta sp. z o.o. subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

badesta sp. z o.o. funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

badesta sp. z o.o. M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about badesta sp. z o.o.

What does badesta sp. z o.o. do?

Badesta Accounting provides outsourced bookkeeping, monthly and annual tax declarations (including VAT), payroll and HR services, and licensed tax advisory to businesses operating in Poland. Each client is assigned a dedicated accounting specialist plus two HR/payroll specialists, with services delivered through fully electronic, paperless document exchange and integrations with multiple ERP and document-management platforms.

Is badesta sp. z o.o. a public or private company?

badesta sp. z o.o. is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was badesta sp. z o.o. founded?

badesta sp. z o.o. was founded in 1994. It employs 11 to 50 people.

Where is badesta sp. z o.o. based?

badesta sp. z o.o. is headquartered in Warsaw, Poland, in the Europe region.

How does badesta sp. z o.o. make money?

Four revenue lines are on record. Accounting Services are the primary driver. The others are payroll/HR Services, tax Advisory and additional Services.

Who are badesta sp. z o.o.'s main competitors?

Direct peers on record are MDDP Michalik Dłuska Dziedzic i Partnerzy, RSM Poland and Auxilium Księgowość. Broad incumbents are BDO Poland, Grant Thornton Poland, Mazars in Poland and Crowe Poland. Rödl & Partner Poland is listed as a regional player. inFakt is listed as an emerging player. Symfonia (Sage sp. z o.o.) is listed as an others.

Does badesta sp. z o.o. have an API?

No public API is recorded for badesta sp. z o.o..

What industry is badesta sp. z o.o. in?

badesta sp. z o.o.'s product category is Accounting & Tax Advisory Services. Its primary akta.pro industry code is BPAHABAC, Accounting & Bookkeeping Services, with a secondary code of BPAAAHAF, Benefits Deductions & Payroll Integration Administration. Its NAICS code is 54121.

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