VAAR SYSTEMS
ActiveSummary
The computed 12-month bankruptcy probability of VAAR SYSTEMS is 2.4% (moderate). The 2025 annual accounts show negative equity (-€77,666) and a net result of -€79,666. Its solvency ranks better than 10% of 253 sector peers (NACE 27, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Staff
- 1.3 FTE
- Equity
- -€77,666
- Loss
- -€79,666
- Largest shareholder
- MULTRONIC · 24%
- DE CLIPPELEER ThomasDirector
- DEMEYER Joaquim WillyDirector
Why 51raises riskLast filed accounts filed 61 days late; 1 of the last 3 lateNegative equity -€77,666Loss of €79,666 (financial year 2025)lowers riskSize: total assets €579,338Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 27, micro): better than 11% on solvency, 67% on liquidity and 14% on profitability.
The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Searched, nothing found (1)
- Annual accounts filedfinancial year 2025 · micro…
- IncorporationAppointments: DEMEYER Joaquim Willy (director)…
Financials · financial year 2025, micro format
2025 annual accounts filed late (61 days) Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00545526.
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Peer companies
Historical observationOf the 7,639 companies that looked in July 2024 the way this one looks now, 8.8% went bankrupt within 24 months and 84.8% are still going.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 7,639 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.
| Line | 2025 |
|---|---|
| Remuneration, social security and pensions62 | €141,795 |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,664 |
| Other operating charges640/8 | €787 |
| Gross operating margin9900 | €72,447 |
| Operating profit (loss)9901 | -€75,799 |
| Financial income75/76B | €45 |
| Recurring financial income75 | €45 |
| Financial charges65/66B | €3,911 |
| Recurring financial charges65 | €3,911 |
| Profit (loss) for the period before taxes9903 | -€79,666 |
| Profit (loss) for the period9904 | -€79,666 |
| Profit (loss) for the period to be appropriated9905 | -€79,666 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €579,338 | |
| Fixed assets21/28 | €25,137 | |
| Tangible fixed assets22/27 | €25,137 | |
| Plant, machinery and equipment23 | €23,917 | |
| Furniture and vehicles24 | €1,221 | |
| Current assets29/58 | €554,201 | |
| Stocks and contracts in progress3 | €21,540 | |
| Stocks30/36 | €21,540 | |
| Amounts receivable within one year40/41 | €467,128 | |
| Trade receivables40 | €456,904 | |
| Other amounts receivable41 | €10,224 | |
| Cash at bank and in hand54/58 | €64,586 | |
| Deferred charges and accrued income490/1 | €947 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €579,338 | |
| Equity10/15 | -€77,666 | |
| Contributions10/11 | €2,000 | |
| Profit (loss) carried forward14 | -€79,666 | |
| Amounts payable17/49 | €657,004 | |
| Amounts payable after more than one year17 | €610,000 | |
| Financial debts170/4 | €610,000 | |
| Amounts payable within one year42/48 | €47,004 | |
| Financial debts43 | €1,540 | |
| Credit institutions430/8 | €1,540 | |
| Trade debts44 | €15,272 | |
| Suppliers440/4 | €15,272 | |
| Taxes, remuneration and social security45 | €29,753 | |
| Taxes450/3 | €1,428 | |
| Remuneration and social security454/9 | €28,325 | |
| Other amounts payable47/48 | €438 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€79,666 |
| + Depreciation and write-downs630 | €5,664 |
| Operating cash flow (approximation) | -€74,002 |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-09-2026 | 2026-00545526 |
Similar companies · same sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| DE CLIPPELEER Thomas |
|
| DEMEYER Joaquim Willy |
|
Owners and capital
Owners
1 ownerOwners 1
-
24%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- DEMEYER Joaquim Willy 76,000 shares (38%)
- DE CLIPPELEER Thomas 76,000 shares (38%)
- MULTRONIC (BE 0422.008.297) 48,000 shares (24%)
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 05-08-2024 Incorporation · €5,000 · 200,000 shares
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
05-08
Gazette deed
IncorporationAppointments: DEMEYER Joaquim Willy (director) and DE CLIPPELEER Thomas (director) · Founder · Founding capital10 facts ▸
- Incorporation, “VAAR SYSTEMS” (deed in French)
- Founder, DEMEYER Joaquim Willy
- Founder, DE CLIPPELEER Thomas
- Founder, MULTRONIC
- Founding capital, €5,000
- Other provision, “plan financier, capitaux propres de départ justifiés” (deed in French)
- Registered office clause, “5300 Andenne,Rue Reppe 20” (deed in French)
- Board rule, 2
- Director appointment, DEMEYER Joaquim Willy (director (not named in the articles))
- Director appointment, DE CLIPPELEER Thomas (director (not named in the articles))
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92411B0508/00M000 | Wallonia | 1,725 m² | 1 · 66 m² | - |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “La recherche et le développement de batteries et de systèmes; La production de batteries et de systèmes pour les applications marines et…” (deed in French)
6 activities (deed in French)
- La recherche et le développement de batteries et de systèmes
- La production de batteries et de systèmes pour les applications marines et d'autres applications de mobilité
- La production et la location de batteries interchangeables pour la propulsion entièrement électrique des bateaux de navigation intérieure
- Développement de logiciels liés aux batteries
- Technologie des batteries sur mesure
- Location et vente de systèmes de batteries ou de systèmes d’énergies
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- VAAR SYSTEMS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région Wallonne, établir sièges administratifs,agences,ateliers,dépôts,succursales en Belgique et à l'étranger par simple décision de…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Pouvoirs spéciaux à tout mandataire, personnes physiques ou morales,actionnaires ou non” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Droit égal dans répartition bénéfices et produits liquidation, 200000” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Thursday of June at 19:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Modifications aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et à quelque moment, désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments” (deed in French)