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VARAK

Active
Public limited companyfounded 1985active for 41 yearsDe Keyserlei 60C, 2018 Antwerpen, Belgium177 active companies are registered at this addressKBO/BCE: BE 0427.939.452
Summary

The annual accounts of VARAK for financial year 2025 show a net loss of 68% of total assets. The 2025 annual accounts show equity of €122,335 and a net result of -€85,066. Equity is shrinking by about 37% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2026. Its solvency ranks better than 95% of 9,811 sector peers (NACE 46, financial year 2025). The company has been active since 1985 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).

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VARAKActiveChecked score 55/100
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History

VARAK was incorporated on 8 October 1985.1 The registered office was moved to Antwerpen in 2004.2 Between 2009 and 2017 the capital was increased 5 times.345 CHORON (BELGIUM) and DINSA were merged into the company between 2012 and 2014.67 Since 2026 the company has been called Varak.8 GANDHI Anshul has served as director of the company since 2026.8 Turnover fell from €54.6m in 2018 to €1,501 in 2024 and headcount from 3.4 to 1.1 full-time equivalents.9

  1. 1KBO register
  2. 2Belgian Official Gazette, 17-06-2004
  3. 3Belgian Official Gazette, 31-08-2009
  4. 4Belgian Official Gazette, 13-02-2017
  5. 5Belgian Official Gazette, 24-02-2017
  6. 6Belgian Official Gazette, 26-04-2012
  7. 7Belgian Official Gazette, 24-04-2015
  8. 8Belgian Official Gazette, 15-04-2026
  9. 9National Bank, annual accounts 2018 and 2024

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
02-07
Gazette deed Resignations & appointments
Power of attorney2 facts ▸
  • General meeting, 30-04-2026
  • Power of attorney, Parag Rajanikant Gandhi
25-06
NBB filing Annual accounts filed
financial year 2025 · abbreviated format
15-04
Gazette deed Resignation: CHORON HOLDINGS PTE. LTD (director)
Permanent representative: GANDHI Anshul · Appointment: GANDHI Anshul (director) · Capital decrease10 facts ▸
  • Capital decrease, “USD 20.000” (deed in Dutch)
  • Name change, Varak
  • Amendment of the articles
  • Capital, “USD 80.000” (deed in Dutch)
  • Other provision, “statuten coördinatie, De algemene vergadering besluit de opdracht te geven aan de ondergetekende notaris om de coördinatie van de statuten op te maken en te ond…” (deed in Dutch)
  • Director resignation, CHORON HOLDINGS PTE. LTD (director)
  • Permanent representative, GANDHI Anshul
  • Board rule, 1
  • Director appointment, GANDHI Anshul (director (not named in the articles))
  • Power of attorney
2025
31-12
Financial Liquidity more than doubledcurrent ratio 33.57
Current ratio from 16.20 to 33.57.
22-08
NBB filing Annual accounts filed
financial year 2024 · full format · 22 days late
23-06
Gazette deed Registered office
Registered-office move1 fact ▸
  • Registered-office move, De Keyserlei 60C bus 1301, 2018 Antwerpen
2024
31-12
Financial Weakest financial yearnet -€130,467
Net result drops to -€130,467, the lowest in the series; recovery starts the following year.
31-12
Financial Liquidity more than 16 timescurrent ratio 16.20
Current ratio from 1.00 to 16.20; short-term debt falls from €11.5m to €3,176.
02-07
NBB filing Annual accounts filed
financial year 2023 · full format
2023
29-11
Gazette deed Capital & shares · Amendment of the articles
Capital decrease · Capital · Power of attorney6 facts ▸
  • General meeting, “buitengewone algemene vergadering” (deed in Dutch)
  • Capital decrease, “USD 4.900.000” (deed in Dutch)
  • Capital, “USD 100.000” (deed in Dutch)
  • Amendment of the articles
  • Power of attorney, Melissa Saelens
  • Power of attorney
05-07
NBB filing Annual accounts filed
financial year 2022 · full format
27-03
Gazette deed Resignation: Rajesh Gandhi (director)
Appointment: Choron Holdings Pte Ltd (director) · Permanent representative: Anshul Gandhi4 facts ▸
  • General meeting, 26-01-2023
  • Director resignation, Rajesh Gandhi (director)
  • Director appointment, Choron Holdings Pte Ltd (director)
  • Permanent representative, Anshul Gandhi (representative)
Show earlier events
2022
31-12
Financial Highest result from 2018 to 2025net €2.2m ▲108%
Operating result €3.0m, net result €2.2m, both a record.
31-12
Financial Equity above €10mequity €10.0m ▲21.6%
A profit in every financial year since 2018 builds equity to €10.0m.
24-11
Gazette deed Reappointments: Gandhi Rajesh (bestuurder en gedelegeerd bestuurder) and BDO Bedrijfsrevisoren (statutory auditor)
5 facts ▸
  • General meeting, 24-06-2022
  • Director reappointment, Gandhi Rajesh (bestuurder en gedelegeerd bestuurder)
  • General meeting, 28-07-2022
  • Auditor reappointment, BDO Bedrijfsrevisoren (statutory auditor)
  • Other provision, “publicatienummer”, 22137715 (deed in Dutch)
20-10
Gazette deed Appointment: GANDHi Rajesh (enige en gedelegeerd bestuurder)
2 facts ▸
  • General meeting, 03-06-2021
  • Director appointment, GANDHi Rajesh (enige en gedelegeerd bestuurder)
28-07
NBB filing Annual accounts filed
financial year 2021 · full format
2021
26-11
Gazette deed Permanent representatives: Erik Thuysbaert and David Lenaerts
Commissioner mandate end3 facts ▸
  • Permanent representative, Erik Thuysbaert
  • Permanent representative, David Lenaerts
  • Commissioner mandate end, “onmiddellijk na de gewone algemene vergadering die zich zal uitspreken over de goedkeuring van de jaarrekening van het boekjaar eindigend op 31-12-2021” (deed in Dutch)
30-07
NBB filing Annual accounts filed
financial year 2020 · full format
30-06
Gazette deed Resignation: CHORON FINANCE (LUXEMBOURG) S.A. (director)
Permanent representative: GANDHI Anshul · Capital decrease · Capital8 facts ▸
  • General meeting, 03-06-2021
  • Capital decrease, €10,000,000
  • Capital, €5,000,000
  • Amendment of the articles
  • Director resignation, CHORON FINANCE (LUXEMBOURG) S.A. (director)
  • Director discharge, CHORON FINANCE (LUXEMBOURG) S.A.
  • Permanent representative, GANDHI Anshul
  • Power of attorney, DE WIT Soraya
2020
06-07
NBB filing Annual accounts filed
financial year 2019 · full format
08-06
Gazette deed Reappointment: BDO Bedrijfsrevisoren (statutory auditor)
2 facts ▸
  • General meeting, 03-12-2019
  • Auditor reappointment, BDO Bedrijfsrevisoren
2019
29-11
Gazette deed Capital & shares · Amendment of the articles
Capital decrease · Share cancellation · Capital8 facts ▸
  • General meeting, 28-10-2019
  • Capital decrease, €5,920,000
  • Share cancellation, 10486
  • Capital, €15,000,000
  • Amendment of the articles
  • Shareholding, 26984
  • Shareholding, 3
  • Repayment waiver, “afstand van de uitkering in evenredigheid tot het huidig aandelenbezit van de aandeelhouders” (deed in Dutch)
26-06
NBB filing Annual accounts filed
financial year 2018 · full format
2018
11-07
NBB filing Annual accounts filed
financial year 2017 · full format
04-01
Gazette deed Reappointments: GANDHI Parag (director) and CHORON FINANCE (LUXEMBOURG) S.A. (director)
Resignation: GANDHI Parag (director) · Appointment: GANDHI Rajesh (director) · Mandate compensation14 facts ▸
  • General meeting, 14-07-2017
  • Director reappointment, GANDHI Parag (director)
  • Director reappointment, CHORON FINANCE (LUXEMBOURG) S.A. (director)
  • Mandate compensation, CHORON FINANCE (LUXEMBOURG) S.A.
  • Board meeting, 14-07-2017
  • Director reappointment, GANDHI Parag (gedelegeerd bestuurder)
  • General meeting, 28-08-2017
  • Director resignation, GANDHI Parag (director)
  • Director appointment, GANDHI Rajesh (director)
  • Board meeting, 28-08-2017
  • Director resignation, GANDHI Parag (gedelegeerd bestuurder)
  • Director appointment, GANDHI Rajesh (gedelegeerd bestuurder)
  • +2 further facts in this act
2017
12-10
Gazette deed Resignation: GANDHI Parag (director)
Appointment: GANDHI Rajesh (director) · Power of attorney7 facts ▸
  • General meeting, 28-08-2017
  • Director resignation, GANDHI Parag (director)
  • Director appointment, GANDHI Rajesh (director)
  • Board meeting
  • Director resignation, GANDHI Parag (gedelegeerd bestuurder)
  • Director appointment, GANDHI Rajesh (gedelegeerd bestuurder)
  • Power of attorney, GANDHI Parag
18-07
NBB filing Annual accounts filed
financial year 2016 · full format
24-02
Gazette deed Capital & shares · Amendment of the articles
Approval · Capital increase · Capital6 facts ▸
  • General meeting, 29-12-2016
  • Approval, 21-12-2016
  • Capital increase, €2,402,828.45
  • Capital increase, €197,171.55
  • Capital, €20,920,000
  • Amendment of the articles
13-02
Gazette deed Capital & shares · Amendment of the articles
Capital increase · Power of attorney · Existing shares7 facts ▸
  • General meeting, 22-12-2016
  • Capital increase, €2,283,109.88
  • Capital increase, €216,890.12
  • Amendment of the articles
  • Power of attorney, Soraya DE WIT
  • Power of attorney, Julie JOOSSEN
  • Existing shares, 28950
2016
15-12
Gazette deed Reappointment: BDO Bedrijfsrevisoren (statutory auditor)
Permanent representative: Erik Thuysbaert3 facts ▸
  • General meeting, 24-06-2016
  • Auditor reappointment, BDO Bedrijfsrevisoren
  • Permanent representative, Erik Thuysbaert
2015
13-08
Gazette deed Resignation: GANDHI Aditya (permanent representative)
Appointment: GANDHI Anshul (permanent representative)3 facts ▸
  • General meeting, 01-12-2014
  • Director resignation, GANDHI Aditya (permanent representative)
  • Director appointment, GANDHI Anshul (permanent representative)
24-04
Gazette deed Restructuring
Resignations: GANDHI Parag Rajnikant (director and managing director) and CHORON DIAMONDS (director) · Merger · Dissolution8 facts ▸
  • General meeting, 31-12-2014 (2 times)
  • Merger, “absorption”, 31-12-2014 (deed in Dutch)
  • Dissolution, 31-12-2014
  • Accounting effect, 01-01-2014
  • Director resignation, GANDHI Parag Rajnikant (director and managing director)
  • Director resignation, CHORON DIAMONDS (director)
  • Director discharge, GANDHI Parag Rajnikant
  • Director discharge, CHORON DIAMONDS
2014
26-11
Gazette deed Restructuring
Merger · Accounting effect · Ownership7 facts ▸
  • Board meeting, 07-11-2014
  • Merger, by absorption, 0
  • Accounting effect, 01-01-2014
  • Ownership, 100%
  • Number of shares, 125
  • Share type, “op naam” (deed in Dutch)
  • Dividend participation, 01-01-2014
2013
31-12
Gazette deed Appointment: BDO Bedrijfsrevisoren (statutory auditor)
2 facts ▸
  • General meeting, 18-11-2013
  • Auditor appointment, BDO Bedrijfsrevisoren (statutory auditor)
13-12
Gazette deed Capital & shares · Amendment of the articles
Capital increase · Preemption waiver · Share subscription confirmation5 facts ▸
  • General meeting, 04-10-2013
  • Capital increase, “USD 5.000.000” (deed in Dutch)
  • Amendment of the articles
  • Preemption waiver, “Zuiver en eenvoudig verzaken aan het voorkeurrecht ter gelegenheid van de kapitaalverhoging” (deed in Dutch)
  • Share subscription confirmation, “8.601 nieuwe aandelen volledig volgestort; bedrag van USD 5.000.000,00 vanaf heden ter beschikking van de vennootschap” (deed in Dutch)
2012
26-04
Gazette deed Capital & shares · Restructuring
Reappointments: CHORON FINANCE (LUXEMBOURG) S.A. (director) and Parag Rajanikant GANDHI (director and managing director) · Permanent representative: Aditya GANDHI · Appointment: Parag Rajanikant GANDHI (chair of the board)16 facts ▸
  • General meeting, 27-10-2011
  • Merger
  • Capital increase, €3,540,930
  • Share cancellation, 8299
  • Capital, €6,293,072.22
  • Amendment of the articles
  • Power of attorney, CHORON DIAMONDS
  • Dissolution, 27-10-2011
  • Director resignation, director
  • Director reappointment, CHORON FINANCE (LUXEMBOURG) S.A. (director)
  • Permanent representative, Aditya GANDHI
  • Mandate compensation, CHORON FINANCE (LUXEMBOURG) S.A.
  • +4 further facts in this act
25-04
Gazette deed Capital & shares · Amendment of the articles
Capital increase · Capital · Audit report8 facts ▸
  • General meeting, 10-04-2012
  • Capital increase, €3,288,756.52
  • Capital increase, €2,531,112.64
  • Capital increase, €1,078,497.60
  • Capital increase, €189,274.85
  • Capital, €10,820,000
  • Amendment of the articles
  • Audit report, 19-03-2012
27-02
Gazette deed Miscellaneous
Share cancellation · Capital · Amendment of the articles5 facts ▸
  • General meeting, 27-10-2011
  • Share cancellation, 8299, “950.418,91 USD” (deed in Dutch)
  • Capital, “USD 3.732.358,39” (deed in Dutch)
  • Amendment of the articles
  • Capital
2011
11-07
Gazette deed Restructuring · Miscellaneous
Merger1 fact ▸
  • Merger, “absorption” (deed in Dutch)
17-03
Gazette deed Reappointment: Mazars & Guerard Bedrijfsrevisoren (statutory auditor)
2 facts ▸
  • General meeting, 01-10-2010
  • Auditor reappointment, Mazars & Guerard Bedrijfsrevisoren
2010
24-09
Gazette deed Appointment: Choron Finance (Luxembourg) S.A. (director)
Permanent representative: GANDHI Aditya · Resignation: GANDHI Rajesh (director)4 facts ▸
  • General meeting, 20-07-2010
  • Director appointment, Choron Finance (Luxembourg) S.A. (director)
  • Permanent representative, GANDHI Aditya
  • Director resignation, GANDHI Rajesh (director)
25-03
Gazette deed Capital & shares · Amendment of the articles
Capital · Power of attorney5 facts ▸
  • General meeting, 25-02-2010
  • Capital, €2,752,142.22
  • Amendment of the articles
  • Power of attorney, DE WIT Soraya
  • Power of attorney, JOOSSEN Julie
2009
31-08
Gazette deed Capital & shares · Resignations & appointments
Capital increase · Amendment of the articles3 facts ▸
  • General meeting, 29-07-2009
  • Capital increase, €1,980,300
  • Amendment of the articles
2007
24-09
Gazette deed Resignation: GANDHI Kalpu Rajesh (director and managing director)
Appointment: GANDHI Parag Rajanıkant (director and managing director) · Director discharge4 facts ▸
  • General meeting, 07-09-2007
  • Director resignation, GANDHI Kalpu Rajesh (director and managing director)
  • Director discharge, GANDHI Kalpu Rajesh
  • Director appointment, GANDHI Parag Rajanıkant (director and managing director)
2004
17-06
Gazette deed Registered office
Registered-office move2 facts ▸
  • General meeting, 17-05-2003
  • Registered-office move, Hoveniersstraat 2 bus 302 te 2018 Antwerpen
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 38 annual accounts filed, the latest 10 are here; all 38 are under Financials.
31 of 31 deeds read

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