VARDEK
ActiveSummary
VARDEK has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €66,293 and a net result of €48,250. Equity is shrinking by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 46% of 3163 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability94▲+55
Solvency53▲+17
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity short (current ratio 0.55 against 0.22 in 2024; short-term debt: 66.5% and cash: 32.4% of total assets), and 71.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28.3%
Return on assets
20.6%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
61 d early
2023
57 d early
2022
9 d early
2021
30 d early
2020
53 d early
2019
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 37 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€66,293▲ 267%
2024 · €18,043
Total assets
€234,496▲ 43.7%
2024 · €163,190
Net result
€48,250
2024 · -€12,228
Working capital
-€69,977▲ 35.6%
2024 · -€108,706
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€22,124€5,246€4,440▼ 15.4%-€6,303€53,552
Net result-€28,136below the sector's middle half-€436within the sector's middle half▲ 98.5%-€1,118within the sector's middle half▼ 156%-€12,228below the sector's middle half▼ 994%€48,250above the sector's middle half
Equity€81,403within the sector's middle half▼ 25.7%€80,967within the sector's middle half▼ 0.5%€79,850within the sector's middle half▼ 1.4%€18,043within the sector's middle half▼ 77.4%€66,293within the sector's middle half▲ 267%
Total assets€243,165within the sector's middle half▼ 23.9%€230,872within the sector's middle half▼ 5.1%€216,040within the sector's middle half▼ 6.4%€163,190within the sector's middle half▼ 24.5%€234,496within the sector's middle half▲ 43.7%
Debt€161,762▼ 22.9%€149,905▼ 7.3%€136,190▼ 9.1%€145,147▲ 6.6%€155,849▲ 7.4%
Working capital-€80,130below the sector's middle half▼ 11.7%-€65,495below the sector's middle half▲ 18.3%-€45,369within the sector's middle half▲ 30.7%-€108,706below the sector's middle half▼ 140%-€69,977below the sector's middle half▲ 35.6%
Solvency33.5%within the sector's middle half▼ 0.8pp35.1%within the sector's middle half▲ 1.6pp37.0%within the sector's middle half▲ 1.9pp11.1%within the sector's middle half▼ 25.9pp28.3%within the sector's middle half▲ 17.2pp
Current ratio0.46below the sector's middle half▼ 0.170.55below the sector's middle half▲ 0.080.65within the sector's middle half▲ 0.110.22below the sector's middle half▼ 0.430.55below the sector's middle half▲ 0.33
Return on assets (ROA)-11.6%below the sector's middle half▼ 13.2pp-0.2%within the sector's middle half▲ 11.4pp-0.5%within the sector's middle half▼ 0.3pp-7.5%below the sector's middle half▼ 7.0pp20.6%above the sector's middle half▲ 28.1pp
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €53,552 after a loss of €6,303 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €234,496
Fixed assets
€148,625 ▲ 12.1%
Current assets
€85,871 ▲ 180%
Equity and liabilities €234,496
Equity
€66,293 ▲ 267%
Provisions
€12,355
Debt
€155,849 ▲ 7.4%
Debt's share of the balance-sheet total falls from 88.9% to 66.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€81,040▲
2024 · €16,387
Cash flow
€75,738▲
2024 · €10,462
Debt to equity
2.35▼
2024 · 8.04
ROE
72.8%▲
2024 · -67.8%
Interest coverage
169.58▲
2024 · 3.58
Debt ≤ 1 year
€155,849▲
2024 · €139,328
Income taxes
€4,824▲
2024 · €1,343
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,815 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,815 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,333 | €22,609 | €21,374 | €22,690 | €27,488 | ▲ 21.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €12,355 | - |
| Other operating charges640/8 | - | €2,127 | €8,736 | €5,013 | €39,509 | ▲ 688% |
| Gross operating margin9900 | €20,208 | €29,982 | €34,550 | €21,400 | €132,904 | ▲ 521% |
| Operating profit (loss)9901 | -€22,124 | €5,246 | €4,440 | -€6,303 | €53,552 | ▲ 950% |
| Financial income75/76B | - | €5 | - | - | €0 | - |
| Recurring financial income75 | €106 | €5 | - | - | €0 | - |
| Financial charges65/66B | - | €4,380 | €4,280 | €4,582 | €478 | ▼ 89.6% |
| Recurring financial charges65 | €4,770 | €4,380 | €4,280 | €4,582 | €478 | ▼ 89.6% |
| Profit (loss) for the period before taxes9903 | -€26,788 | €871 | €160 | -€10,885 | €53,074 | ▲ 588% |
| Income taxes67/77 | €1,348 | €1,307 | €1,278 | €1,343 | €4,824 | ▲ 259% |
| Profit (loss) for the period9904 | -€28,136 | -€436 | -€1,118 | -€12,228 | €48,250 | ▲ 495% |
| Profit (loss) for the period to be appropriated9905 | -€28,136 | -€436 | -€1,118 | -€12,228 | €48,250 | ▲ 495% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €243,165 | €230,872 | €216,040 | €163,190 | €234,496 | ▲ 43.7% |
| Fixed assets21/28 | €173,599 | €152,126 | €130,752 | €132,568 | €148,625 | ▲ 12.1% |
| Tangible fixed assets22/27 | €173,599 | €152,126 | €130,752 | €132,568 | €148,625 | ▲ 12.1% |
| Land and buildings22 | - | €140,770 | €123,026 | €111,390 | €106,151 | ▼ 4.7% |
| Plant, machinery and equipment23 | - | €7,042 | €4,856 | €4,536 | €27,146 | ▲ 498% |
| Furniture and vehicles24 | - | €4,314 | €2,870 | €16,642 | €15,329 | ▼ 7.9% |
| Current assets29/58 | €69,566 | €78,746 | €85,288 | €30,622 | €85,871 | ▲ 180% |
| Amounts receivable within one year40/41 | €15,869 | €14,998 | €14,292 | €19,407 | €8,664 | ▼ 55.4% |
| Trade receivables40 | - | €6,533 | €7,868 | €11,651 | €55 | ▼ 99.5% |
| Other amounts receivable41 | - | €8,465 | €6,424 | €7,756 | €8,609 | ▲ 11.0% |
| Cash at bank and in hand54/58 | €53,697 | €63,748 | €70,996 | €11,215 | €75,921 | ▲ 577% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,286 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €243,165 | €230,872 | €216,040 | €163,190 | €234,496 | ▲ 43.7% |
| Equity10/15 | €81,403 | €80,967 | €79,850 | €18,043 | €66,293 | ▲ 267% |
| Contributions10/11 | - | €49,578 | €49,579 | - | - | - |
| Outside capital11 | - | €49,578 | - | - | - | - |
| Other1109/19 | - | €49,578 | - | - | - | - |
| Reserves13 | €31,825 | €31,389 | €30,271 | €18,043 | €18,043 | = |
| Distributable reserves133 | - | €31,389 | €30,271 | €18,043 | €18,043 | = |
| Profit (loss) carried forward14 | - | - | - | - | €48,250 | - |
| Provisions and deferred taxes16 | - | - | - | - | €12,355 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €12,355 | - |
| Major repairs and maintenance162 | - | - | - | - | €12,355 | - |
| Amounts payable17/49 | €161,762 | €149,905 | €136,190 | €145,147 | €155,849 | ▲ 7.4% |
| Amounts payable within one year42/48 | €149,696 | €144,241 | €130,657 | €139,328 | €155,849 | ▲ 11.9% |
| Trade debts44 | €24,215 | €20,997 | €10,704 | €8,987 | €42,186 | ▲ 369% |
| Suppliers440/4 | - | €20,997 | €10,704 | €8,987 | €42,186 | ▲ 369% |
| Taxes, remuneration and social security45 | - | - | - | - | €4,824 | - |
| Taxes450/3 | - | - | - | - | €4,824 | - |
| Other amounts payable47/48 | - | €123,244 | €119,953 | €130,341 | €108,838 | ▼ 16.5% |
| Accrued charges and deferred income492/3 | - | €5,664 | €5,533 | €5,819 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€28,136 | -€436 | -€1,118 | -€12,228 | €48,250 | ▲ 495% |
| + Depreciation and write-downs630 | €24,333 | €22,609 | €21,374 | €22,690 | €27,488 | ▲ 21.1% |
| Operating cash flow (approximation) | -€3,803 | €22,173 | €20,256 | €10,462 | €75,738 | ▲ 624% |
| Investment in fixed assets (approximation) | - | -€1,136 | €0 | -€24,506 | -€43,545 | ▼ 77.7% |
| Change in cash | - | €10,051 | €7,248 | -€59,781 | €64,706 | ▲ 208% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €48,250
Net result €48,250 after 4 loss-making years.
28-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet -€28,136
Net result drops to -€28,136, the lowest in the series; recovery starts the following year.
08-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
14-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lichtervelde · 2 establishment units since 1998
Ground area
1.5 ha
Building footprint
521 m²
Volume, LiDAR
664 m³
2 parcels, Flanders · tallest building 8.9 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
VARDEK
since 19982.246.581.465
Stegelstraat 129, 8810 Lichtervelde
since 19982.085.197.518
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36011A0105/00Z000 | Flanders | 9,920 m² | 1 · 175 m² | 8.9 m · 1 fl. |
| 36011D0180/00W000 | Flanders | 5,128 m² | 1 · 346 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 175,497 EUR awarded · 175,497 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 175,497 EUR | 175,497 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteLichtervelde2.085.197.518
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Of 20,584 companies in sector 01500 we hold annual accounts for 1,149. 776 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-01-1998
Fiscal year end30-09
Activities, NACEBEL 2025
01500Mixed farming
01462Crop and animal production, hunting and related service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0462381380
Also
9925:BE0462381380
Registered
13-10-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.