VARGAS D & S
ActiveVARGAS D & S has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €411k and a net result of €-105k. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 29% of 37960 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
49
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability8▼-3
Solvency58▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days only on tighter terms
Liquidity short (current ratio 0.21 against 0.33 in 2023; short-term debt: 48.4% and cash: 0% of total assets), and 67.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 70
Relative position
BE, all sectors
reference
Sector 70
lower
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
32.9%
Return on assets
-8.4%
Age of the figures
24 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-105k
raises risk · Annual accounts not filed
The financial year that closed on 30-09-2025 was due at the National Bank by 30-04-2026. Nothing is on record, 142 days later.
NBB · 10 filingsPosition against the passed deadline
30-09-2025 close30-04-2026 deadline19-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 04-04-2025, 26 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
26 d early
2023
6 d early
2022
2 d early
2021
2 d late
2020
on the day
2019
44 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€411k▼ 20.4%
2023 · €517k
2018: €258k
2019: €260k
2020: €405k
2021: €328k
2022: €594k
2023: €517k
2018 → 2024
Total assets
€1.25M▼ 3.5%
2023 · €1.30M
2018: €1.47M
2019: €1.42M
2020: €2.03M
2021: €1.77M
2022: €1.56M
2023: €1.30M
2018 → 2024
Net result
€-105k▼ 35.9%
2023 · €-77k
2018: €229k
2019: €3k
2020: €145k
2021: €-77k
2022: €266k
2023: €-77k
2018 → 2024
Working capital
€-476k▼ 44.8%
2023 · €-329k
2018: €-493k
2019: €-466k
2020: €-385k
2021: €-476k
2022: €-164k
2023: €-329k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€405k-€328k▼ 19.0%€594k▲ 81.3%€517k▼ 13.0%€411k▼ 20.4%
Operating result€35k-€-169k€391k€-73k€-123k▼ 68.8%
Net result€145k-€-77k€266k€-77k€-105k▼ 35.9%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €123k in 2024 against €73k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.25M
Fixed assets
€1.12M▼ 1.2%
Current assets
€130k▼ 19.4%
Equity and liabilities €1.25M
Equity
€411k▼ 20.4%
Provisions
€118k=
Debt
€722k▲ 9.2%
The debt ratio rises from 51.0% to 57.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-108k▼
2023 · €-59k
Cash flow
€-90k▼
2023 · €-63k
Solvency
32.9%▼
2023 · 39.9%
Current ratio
0.21▼
2023 · 0.33
Quick ratio
0.21▼
2023 · 0.33
Debt / equity
1.75▲
2023 · 1.28
ROE
-25.5%▼
2023 · -15.0%
ROA
-8.4%▼
2023 · -6.0%
Interest coverage
-29.09▼
2023 · -1.96
Debt
€722k▲
2023 · €661k
Debt ≤ 1 year
€606k▲
2023 · €490k
Debt > 1 year
€116k▼
2023 · €160k
Income taxes
€327▼
2023 · €930
Staff costs
€58k▲
2023 · €56k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.30M€1.25M▼
Fixed assets21/28€1.14M€1.12M▼
Tangible fixed assets22/27€49k€36k▼
Furniture and vehicles24€49k€36k▼
Financial fixed assets28€1.09M€1.09M=
Current assets29/58€161k€130k▼
Amounts receivable within one year40/41€155k€129k▼
Trade receivables40€60k€56k▼
Other amounts receivable41€95k€73k▼
Cash at bank and in hand54/58€438€344▼
Deferred charges and accrued income490/1€6k€268▼
Equity and liabilities
Total equity and liabilities10/49€1.30M€1.25M▼
Equity10/15€517k€411k▼
Contributions10/11€20k€20k=
Reserves13€710k€710k=
Non-distributable reserves130/1€750€750=
Reserves not available under the articles1311€750€750=
Tax-exempt reserves132€471k€471k=
Distributable reserves133€238k€238k=
Profit (loss) carried forward14€-213k€-319k▼
Provisions and deferred taxes16€118k€118k=
Deferred taxes168€118k€118k=
Amounts payable17/49€661k€722k▲
Amounts payable after more than one year17€160k€116k▼
Financial debts170/4€160k€116k▼
Amounts payable within one year42/48€490k€606k▲
Current portion of amounts payable after more than one year42€43k€43k▲
Financial debts43€0€1k▲
Credit institutions430/8€0€1k▲
Trade debts44€33k€30k▼
Suppliers440/4€33k€30k▼
Taxes, remuneration and social security45€57k€82k▲
Taxes450/3€45k€70k▲
Remuneration and social security454/9€12k€12k▲
Other amounts payable47/48€358k€449k▲
Accrued charges and deferred income492/3€12k-
Income statement
Code20232024
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€56k€58k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€15k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€6k€4k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€4k€-45k▼
Operating profit (loss)9901€-73k€-123k▼
Financial income75/76B€26k€22k▼
Recurring financial income75€26k€22k▼
Financial charges65/66B€30k€4k▼
Recurring financial charges65€30k€4k▼
Profit (loss) for the period before taxes9903€-76k€-105k▼
Transfer to deferred taxes680€0-
Income taxes67/77€930€327▼
Profit (loss) for the period9904€-77k€-105k▼
Transfer to tax-exempt reserves689€0-
Profit (loss) for the period to be appropriated9905€-77k€-105k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-213k€-319k▼
Profit (loss) brought forward from the previous period14P€-136k€-214k▼
Transfer from equity791/2€0-
Social balance
Average headcount (FTE)90871.0-
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
26-08
State Gazette act
Registered officeRegistered-office move1 fact ▸
State Gazette act
Registered office
Registered-office move1 fact ▸
- Registered-office move, Koning Boudewijnlaan 20a 3500 Hasselt
2025
04-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet €-105k
Net result drops to €-105k, the lowest in the series.
24-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Back to profitnet €266k
Net result €266k after one loss-making year.
30-09
Financial
Equity above €500kEq €594k ▲81.3%
Equity rises from €328k to €594k.
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
29-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
24-02
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Koning Boudewijnlaan 203500 HasseltGround area
6,641 m²
Building footprint
595 m²
Volume, LiDAR
2,537 m³
2 parcels, Flanders · tallest building 8.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
ALL F&B
since 20102.191.651.949
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71323C0155/00H002 | Flanders | 6,122 m² | - | - |
| 13008H1289/00L003 | Flanders | 519 m² | 1 · 595 m² | 8.6 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 5,696 companies in sector 70100 we hold annual accounts for 3,489. 2,257 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-12-2004
Fiscal year end30-09
Activities, NACEBEL
10320Manufacture of food products
70100Activities of head offices
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.