Financials
- Fiscal year
- 2025
- Turnover
- €20.1m
- Profit
- €1.3m
- Solvency
- 0.7%
Turnover▼ 1.2%
Net result
20232025
VAREL SECURITY
ActiveSummary
VAREL SECURITY has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €97,166 and a net result of €1.3m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 2401 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Overview
Activity
General electrical installation work
NACE 43211NACE 45310
#4 employer in Hasselt, Construction sector3 sites
Size
€20.1mturnover 2025
- Staff
- 82.2 FTE
- Equity
- €97,166
- Profit
- €1.3m
Structure
- Parent
- Varel Security Group · 100%
- Board
- 2 members
- Holdings
- 2
Auditor: BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISESAccounts on time4 of 27 deeds read
Why 68- Equity €97,166 (0.7% of total assets)- Sector Specialised construction activities (NACE 43)- Liquidity: current ratio 1.05, cash €615,563+ Size: turnover €20.1m, 82.2 FTE, total assets €13.1mShow the evidence
Checked score
Score 2025
68
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 41% of its sector peers (NACE 43, medium-sized)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Average
Solvency
26-2
equity 0.7% of total assets
Liquidity
38-2
short-term debt 38.5% · cash 4.7%
Profitability
80+9
return on assets 10.1%
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.4%
12-2024: 0.4%● 0.0% vs 11-2024
01-2025: 0.4%▼ -0.7% vs 12-2024
02-2025: 0.4%▼ -0.5% vs 01-2025lowest value
03-2025: 0.4%▲ +2.0% vs 02-2025
04-2025: 0.5%▲ +22.2% vs 03-2025
05-2025: 1.1%▲ +114% vs 04-2025
06-2025: 1.1%● 0.0% vs 05-2025
07-2025: 1.1%● 0.0% vs 06-2025
08-2025: 1.1%● 0.0% vs 07-2025
09-2025: 1.1%● 0.0% vs 08-2025
10-2025: 1.1%● 0.0% vs 09-2025
11-2025: 1.0%▼ -3.2% vs 10-2025
12-2025: 1.0%● 0.0% vs 11-2025
01-2026: 1.0%▼ -2.5% vs 12-2025
02-2026: 1.0%▼ -0.3% vs 01-2026
03-2026: 1.0%▲ +2.2% vs 02-2026
04-2026: 1.2%▲ +17.5% vs 03-2026highest value
05-2026: 0.7%▼ -39.6% vs 04-2026
06-2026: 0.7%● 0.0% vs 05-2026
07-2026: 0.7%● 0.0% vs 06-2026
08-2026: 0.7%● 0.0% vs 07-2026
09-2026: 0.7%● 0.0% vs 08-2026
10-2026: 0.7%● 0.0% vs 09-2026
- Equity €97,166 (0.7% of total assets) raises the probability
- Sector Specialised construction activities (NACE 43) raises the probability
- Liquidity: current ratio 1.05, cash €615,563 raises the probability
- Size: turnover €20.1m, 82.2 FTE, total assets €13.1m lowers the probability for this profile
Credit up to €6,000 at 30 days acceptable
Liquidity tight (current ratio 1.05 against 0.91 in 2024; short-term debt: 38.5% and cash: 4.7% of total assets), and 99.3% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 43, medium-sized). Better than this share of them on solvency 4%, liquidity 54%, profitability 86%, growth against the median 21%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 2401 sector peers (2025).
NBB · sector comparisonPosition among 2401 sector peers
Solvency
better than 9%
← weakest
strongest →
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 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
29 d early
2023
1 d early
2022
31 d early
2021
31 d early
2020
2 d early
2019
30 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 18 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 1 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close05-10-2026 today30-04-2027 deadline
- RestructuringMerger · Shareholding · Declaration
- Resignations: Varel Security Group (director) and…Appointments: Varel Security Group, ADT-Invest…
- Annual accounts filedfiscal year 2025 · full…
Key points
- Positive: Result rose in 2025from €296,388 to €1.3m ▲ 349% View
- Caution: Among the weakest 9% on solvencysector median 42.6% · 2,401 companies 0.7% View
- New directorslatest change 13-07-2026 · 2 in office 3 joined View
- Positive: Always filed on timeaccounts within the deadline every year 8 years View
- Controlled by Varel Security Groupitself parent of 2 companies 100% View
- Positive: 7 profitable years in a rowprofit 2025: €1.3m 7 years View
- Active since 1977founded 13-12-1977 48 years View
By topic
Board & ownership
- Board
- 2 members
- Parent
- Varel Security Group · 100%
- Auditor
- BDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES
Go to Board & ownership
Network & group
- Subsidiaries
- 2
- Connected companies
- 2
- Mergers and contributions
- 1
2 subsidiaries
Timeline
- Events
- 16
- Since
- 2017
- Next accounts
- by 30-04-2027
- 18-09-2026Restructuring
- 13-07-2026Resignations: Varel Security Group (director) and Van…
- 30-04-2026Annual accounts filed
Company details
- Sites
- 3
- Legal form
- Public limited company
- Activity
- General electrical installation workNACE 43211
- Founded
- 13-12-1977
- Year ends
- 30-09
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 13
- Who signs
- Two directors jointly
- Annual meeting
- Third Monday of March at 11:00
- Purpose
- Het leveren van diensten van projectmanagement, waaronder het uitvoeren van…
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