VAR DEVELOPMENT
ActiveSummary
VAR DEVELOPMENT has been active since 2014 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€1,947) and a net result of -€327. Equity has been shrinking by about 7.7% per year since 2018. The computed 12-month bankruptcy probability is 0.8% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-06-2014 Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.231.670.486 2990 Wuustwezel, since 11-06-2014
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- Meeus RudiDirector · since 05-06-2014
- Vandekerkhove MarijkeDirector · since 05-06-2014
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.8%
- Gross margin
- -€66
- ▲ 48.4%
- Loss
- €327
- ▲ 156%
- Equity
- -€1,947
- ▼ 20.2%
- Total assets
- €7
- ▲ 3.8%
- Negative equity on 31-12-2025
Score breakdownraises riskCapped at 59: negative equityNegative equity -€1,947Loss of €327, the second in a row (financial year 2025)lowers riskSize: total assets €7Founded in 2014Show the evidence
Checked score
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 (no NACE code, micro). It does better than 5% of them on solvency, 35% on liquidity, 4% on profitability and 17% on growth.
The bankruptcy probability was computed on 04-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 16 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 24-06-2026 at the NBB all 11 filings
Every figure per financial year
The operating result for 2025 is a loss of €186, larger than the loss of €127 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €101 | - | - | - | €120 | - |
| Gross operating margin9900 | -€36,062 | €35,466 | - | -€289 | -€57 | - | -€127 | -€66 | ▲ 48.4% |
| Operating profit (loss)9901 | -€36,506 | €35,000 | - | -€390 | -€57 | - | -€127 | -€186 | ▼ 45.8% |
| Recurring financial income75 | - | €30 | - | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | - | - | - | - | €141 | - |
| Recurring financial charges65 | €62 | €69 | €10 | - | - | - | - | €141 | - |
| Profit (loss) for the period before taxes9903 | -€36,568 | €34,961 | -€10 | -€390 | -€57 | - | -€127 | -€327 | ▼ 156% |
| Profit (loss) for the period9904 | -€36,568 | €34,961 | -€10 | -€390 | -€57 | - | -€127 | -€327 | ▼ 156% |
| Profit (loss) for the period to be appropriated9905 | -€36,568 | €34,961 | -€10 | -€390 | -€57 | - | -€127 | -€327 | ▼ 156% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €22,534 | €10,268 | €82 | €82 | €7 | €7 | €7 | €7 | ▲ 3.8% |
| Current assets29/58 | €22,534 | €10,268 | €82 | €82 | €7 | €7 | €7 | €7 | ▲ 3.8% |
| Stocks and contracts in progress3 | €12,500 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €6,686 | - | €75 | €75 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €75 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €3,348 | €10,268 | €7 | €7 | €7 | €7 | €7 | €7 | ▲ 3.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €22,534 | €10,268 | €82 | €82 | €7 | €7 | €7 | €7 | ▲ 3.8% |
| Equity10/15 | -€35,996 | -€1,035 | -€1,045 | -€1,436 | -€1,493 | -€1,493 | -€1,620 | -€1,947 | ▼ 20.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€54,596 | -€19,635 | -€19,645 | -€20,036 | -€20,093 | -€20,093 | -€20,220 | -€20,547 | ▼ 1.6% |
| Amounts payable17/49 | €58,530 | €11,303 | €1,127 | €1,517 | €1,499 | €1,499 | €1,626 | €1,953 | ▲ 20.1% |
| Amounts payable within one year42/48 | €58,530 | €11,303 | €1,127 | €1,517 | €1,499 | €1,499 | €1,626 | €1,953 | ▲ 20.1% |
| Trade debts44 | €30 | €245 | - | €235 | - | - | - | - | - |
| Suppliers440/4 | - | - | - | €235 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €1,283 | €1,499 | €1,499 | €1,626 | €1,953 | ▲ 20.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€36,568 | €34,961 | -€10 | -€390 | -€57 | - | -€127 | -€327 | ▼ 156% |
| Operating cash flow (approximation) | -€36,568 | €34,961 | -€10 | -€390 | -€57 | - | -€127 | -€327 | ▼ 156% |
| Change in cash | - | €6,920 | -€10,261 | €0 | €0 | €0 | €0 | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,907 companies had the same profile as VAR DEVELOPMENT has now. Two years later, 85.5% were still going and 5.8% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VAR DEVELOPMENT itself is lower: 0.8% within 12 months. It rests on far more data about VAR DEVELOPMENT than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,907 companies, not a prediction for VAR DEVELOPMENT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-06-2026 | 2026-00193647 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00201760 | |
| 31-12-2023 | micro format | 26-06-2024 | 2024-00173163 | |
| 31-12-2022 | micro format | 21-06-2023 | 2023-00149105 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20108830 | |
| 31-12-2020 | micro format | 16-11-2021 | 2021-77300576 | |
| 31-12-2019 | micro format | 16-06-2020 | 2020-18400594 | |
| 31-12-2018 | micro format | 27-08-2019 | 2019-53000083 | |
| 31-12-2017 | micro format | 27-08-2018 | 2018-49600584 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-52600414 |
Board & ownership
Directors
Owners and capital
Owners
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Meeus Rudi |
|
| Vandekerkhove Marijke |
|
Network & group
VAR DEVELOPMENT shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of VAR DEVELOPMENT. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Invoicing and payment
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11053D0929/00S000 | Flanders | 6,309 m² | 1 · 724 m² | 11.3 m |