VAREX
Judicial reorganisationSummary
The file of VAREX contains 1 judicial reorganisation, as published in the Belgian State Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show negative equity (-€718,744) and a net result of -€1.2m. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 13% of 1536 sector peers (fiscal year 2025).
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Antwerp, Antwerp division
- Opened
- 28 August 2025
- Docket number
- 20250032
- Moratorium until
- 9 October 2025 (passed; an extension would be in a later judgment)
- Delegated judge
- Ria Verheyen
- Official Gazette
- 02-09-2025 (pdf) ↗search the document for 2025/135211
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- How you are paid depends on the track: an amicable settlement, a collective agreement with a plan the creditors vote on, or a transfer. The judgment and RegSol say which.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
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Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-38
Solvency0▼-43
Growth52▼-26
Track record60
Credit verdict
No credit on open account during an ongoing judicial reorganisation
short-term debt: 24.1% of total assets, and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€718,744
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
2 d late
2024
10 d late
2023
on the day
2022
on the day
2021
on the day
2020
58 d late
2019
60 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 1 day after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 31 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close29-09-2026 today31-01-2027 deadline
History
Go further with this company
What should you check before you do business with this company?Supplier due diligence What held for this company on a given day: board, seat, name?Company as of a date Are there other customers at risk in your own list?List enrichment How is the Rental and leasing activities sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€718,744
2024 · €434,503
Total assets
€1.4m▼ 40.6%
2024 · €2.4m
Net result
-€1.2m
2024 · €55,225
Working capital
-€368,934▼ 54.7%
2023 · -€238,465
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing 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€73,189▲ 392%€97,665▲ 33.4%€84,802▼ 13.2%€105,920▲ 24.9%-€181,140
Net result-€22,330below the sector's middle half▲ 68.2%-€24,665below the sector's middle half▼ 10.5%€278,249above the sector's middle half€55,225above the sector's middle half▼ 80.2%-€1.2mbelow the sector's middle half
Equity-€1.1mbelow the sector's middle half▼ 2.0%-€1.2mbelow the sector's middle half▼ 2.2%€379,278above the sector's middle half€434,503above the sector's middle half▲ 14.6%-€718,744below the sector's middle half
Total assets€1.9mabove the sector's middle half▲ 14.8%€1.3mabove the sector's middle half▼ 32.2%€2.5mabove the sector's middle half▲ 93.3%€2.4mabove the sector's middle half▼ 3.8%€1.4mabove the sector's middle half▼ 40.6%
Debt€3.0m▲ 9.7%€2.4m▼ 19.4%€2.1m▼ 13.4%€2.0m▼ 7.1%€2.1m▲ 8.9%
Working capital-€448,772below the sector's middle half▲ 11.6%-€506,961below the sector's middle half▼ 13.0%-€238,465below the sector's middle half▲ 53.0%-€368,934below the sector's middle half▼ 54.7%
Solvency-59.3%below the sector's middle half▲ 7.5pp-89.3%below the sector's middle half▼ 30.0pp15.2%within the sector's middle half▲ 104.5pp18.1%within the sector's middle half▲ 2.9pp-50.3%below the sector's middle half▼ 68.4pp
Current ratio0.59within the sector's middle half▲ 0.210.13below the sector's middle half▼ 0.450.22below the sector's middle half▲ 0.090.02below the sector's middle half▼ 0.20
Return on assets (ROA)-1.2%within the sector's middle half▲ 3.1pp-1.9%within the sector's middle half▼ 0.7pp11.1%within the sector's middle half▲ 13.0pp2.3%within the sector's middle half▼ 8.8pp-80.8%below the sector's middle half▼ 83.1pp
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing 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 turns negative in 2025: a loss of €181,140 after €105,920 in 2024, the lowest result in the available series.
Key figures and ratios
EBITDA
-€146,835▼
2024 · €140,225
Cash flow
-€1.1m▼
2024 · €89,530
Debt to equity
-2.99▼
2024 · 4.54
Interest coverage
-3.26▼
2024 · 1.92
Debt ≤ 1 year
€344,489▼
2024 · €374,696
Debt > 1 year
€1.8m▲
2024 · €1.6m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €81,190 | €53,384 | €51,524 | €34,305 | €34,305 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €261,288 | - |
| Other operating charges640/8 | - | €10,565 | €10,886 | €11,572 | €11,720 | ▲ 1.3% |
| Gross operating margin9900 | €164,982 | €161,614 | €147,212 | €151,797 | €126,173 | ▼ 16.9% |
| Operating profit (loss)9901 | €73,189 | €97,665 | €84,802 | €105,920 | -€181,140 | ▼ 271% |
| Financial income75/76B | - | - | €229,454 | €22,314 | €9,821 | ▼ 56.0% |
| Recurring financial income75 | - | - | €229,454 | €22,314 | €161 | ▼ 99.3% |
| Non-recurring financial income76B | - | - | €229,454 | €22,314 | €9,660 | ▼ 56.7% |
| Financial charges65/66B | - | €122,329 | €36,007 | €73,009 | €981,927 | ▲ 1,245% |
| Recurring financial charges65 | €95,519 | €122,329 | €36,007 | €73,009 | €45,057 | ▼ 38.3% |
| Non-recurring financial charges66B | - | - | - | - | €936,870 | - |
| Profit (loss) for the period before taxes9903 | -€22,330 | -€24,665 | €278,249 | €55,225 | -€1.2m | ▼ 2,188% |
| Profit (loss) for the period9904 | -€22,330 | -€24,665 | €278,249 | €55,225 | -€1.2m | ▼ 2,188% |
| Profit (loss) for the period to be appropriated9905 | -€22,330 | -€24,665 | €278,249 | €55,225 | -€1.2m | ▼ 2,188% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €1.3m | €2.5m | €2.4m | €1.4m | ▼ 40.6% |
| Fixed assets21/28 | €1.3m | €1.2m | €2.4m | €2.4m | €1.4m | ▼ 40.5% |
| Tangible fixed assets22/27 | €332,800 | €279,416 | €1.5m | €1.5m | €1.4m | ▼ 2.3% |
| Land and buildings22 | - | €262,198 | €1.5m | €1.5m | €1.4m | ▼ 2.1% |
| Plant, machinery and equipment23 | - | €14,919 | - | - | - | - |
| Furniture and vehicles24 | - | €2,300 | €9,713 | €6,475 | €3,238 | ▼ 50.0% |
| Financial fixed assets28 | €936,870 | €936,870 | €936,870 | €936,870 | - | - |
| Current assets29/58 | €636,802 | €77,183 | €66,871 | €5,761 | - | - |
| Amounts receivable within one year40/41 | €436,802 | €77,183 | €66,871 | €5,761 | - | - |
| Trade receivables40 | - | €77,183 | €66,871 | €5,761 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €1.3m | €2.5m | €2.4m | €1.4m | ▼ 40.6% |
| Equity10/15 | -€1.1m | -€1.2m | €379,278 | €434,503 | -€718,744 | ▼ 265% |
| Contributions10/11 | - | €24,000 | €24,000 | €24,000 | €24,000 | = |
| Revaluation surpluses12 | - | - | €1.3m | €1.3m | €1.3m | = |
| Profit (loss) carried forward14 | -€1.2m | -€1.2m | -€900,592 | -€845,367 | -€2.0m | ▼ 136% |
| Amounts payable17/49 | €3.0m | €2.4m | €2.1m | €2.0m | €2.1m | ▲ 8.9% |
| Amounts payable after more than one year17 | €2.0m | €1.9m | €1.8m | €1.6m | €1.8m | ▲ 12.9% |
| Financial debts170/4 | - | €1.9m | €1.8m | €1.6m | €1.8m | ▲ 12.9% |
| Amounts payable within one year42/48 | €1.1m | €584,144 | €305,336 | €374,696 | €344,489 | ▼ 8.1% |
| Trade debts44 | €10,787 | €28,761 | €16,107 | €10,211 | €44,043 | ▲ 331% |
| Suppliers440/4 | - | €28,761 | €16,107 | €10,211 | €44,043 | ▲ 331% |
| Taxes, remuneration and social security45 | - | €27,886 | €34,767 | €42,785 | €69,115 | ▲ 61.5% |
| Taxes450/3 | - | €27,886 | €34,767 | €42,785 | €69,115 | ▲ 61.5% |
| Other amounts payable47/48 | - | €527,497 | €254,462 | €321,699 | €231,331 | ▼ 28.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€22,330 | -€24,665 | €278,249 | €55,225 | -€1.2m | ▼ 2,188% |
| + Depreciation and write-downs630 | €81,190 | €53,384 | €51,524 | €34,305 | €34,305 | = |
| Operating cash flow (approximation) | €58,860 | €28,719 | €329,773 | €89,530 | -€1.1m | ▼ 1,350% |
| Investment in fixed assets (approximation) | - | €0 | -€1.3m | €0 | €936,870 | - |
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
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 2 days late
2025
02-09
Judicial reorganisation
Extension
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 28-08-2025
30-06
Financial
Weakest financial yearnet -€1.2m
Net result drops to -€1.2m, the lowest in the series.
10-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 10 days late
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €278,249
Net result €278,249 after 4 loss-making years.
30-06
Financial
Equity above €200,000Eq €379,278
Equity rises from -€1.2m to €379,278.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 58 days late
2019
02-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2017
21-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
05-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Zandhoven · 1 establishment unit since 2010
Ground area
553 m²
Building footprint
553 m²
Volume, LiDAR
3,707 m³
Parcel 11027A0193/00H000, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VAREX
since 20102.198.358.807
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11027A0193/00H000 | Flanders | 553 m² | 1 · 553 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 ownersOwners 2
-
17.5%
-
17.5%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 666 companies in sector 77320 we hold annual accounts for 491. 380 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 (pre-2019)
Founded15-11-2010
Fiscal year end30-06
Activities, NACEBEL 2025
77320Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0831168452
Also
9925:BE0831168452
Registered
04-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.