Varia-Pack

Active

Public limited companyfounded 197155 yrs activeAarschotsesteenweg 114, 3012 Leuven, BelgiumKBO/BCE: BE 0407.977.446

Varia-Pack has been active since 1971 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.55M and a net result of €595k. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 59% of 4839 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

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Checked score

Score 2025

69 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability61▼-3

Solvency78▲+2

Growth27▲+1

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €450k at 30 days acceptable

Liquidity ample (current ratio 2.02 against 1.91 in 2024; short-term debt: 46.5% and cash: 3.6% of total assets), and 46.7% of the assets are financed with debt.

How do we compute the score and the probability?

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

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

53.3%

Return on assets

4.8%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 46

Relative position

BE, all sectors

reference

Sector 46

higher

← fewer bankruptcies more bankruptcies →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-06-2026, 49 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

49 d early

2024

37 d early

2023

15 d early

2022

42 d early

2021

33 d early

2020

25 d early

2019

36 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

18-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover

€23.06M▼ 0.4%

2024 · €23.15M

2018: €34.08M 2019: €32.97M 2020: €30.58M 2021: €30.63M 2022: €29.13M 2023: €25.37M 2024: €23.15M

2018 → 2025

EBIT margin

3.0%▼ 1.1pp

2024 · 4.0%

2018: 3.6% 2019: 7.0% 2020: 3.2% 2021: 4.6% 2022: 5.5% 2023: 3.4% 2024: 4.0%

2018 → 2025

Net result

€595k▼ 23.2%

2024 · €774k

2018: €844k 2019: €1.61M 2020: €677k 2021: €1.02M 2022: €1.23M 2023: €765k 2024: €774k

2018 → 2025

Working capital

€5.83M▲ 2.4%

2024 · €5.70M

2018: €6.20M 2019: €8.47M 2020: €7.86M 2021: €7.55M 2022: €7.77M 2023: €5.83M 2024: €5.70M

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€30.63M-€29.13M▼ 4.9%€25.37M▼ 12.9%€23.15M▼ 8.8%€23.06M▼ 0.4%

Equity€8.73M-€8.76M▲ 0.4%€6.78M▼ 22.6%€6.55M▼ 3.3%€6.55M=

Operating result€1.42M-€1.61M▲ 13.6%€873k▼ 45.8%€928k▲ 6.3%€680k▼ 26.7%

Net result€1.02M-€1.23M▲ 20.2%€765k▼ 37.8%€774k▲ 1.2%€595k▼ 23.2%

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 27% below 2024 and is the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €12.29M

94.0%

Fixed assets €735k▼ 14.3%

Current assets €11.55M▼ 3.3%

Equity and liabilities €12.29M

53.3%

46.7%

Equity €6.55M=

Debt €5.73M▼ 8.2%

The debt ratio falls from 48.8% to 46.7%. Debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€814k▼

2024 · €1.11M

Cash flow

€728k▼

2024 · €954k

Solvency

53.3%▲

2024 · 51.2%

Current ratio

2.02▲

2024 · 1.91

Quick ratio

1.42▲

2024 · 1.31

Debt / equity

0.87▼

2024 · 0.95

ROE

9.1%▼

2024 · 11.8%

ROA

4.8%▼

2024 · 6.0%

Interest coverage

37.58▼

2024 · 73.44

Debt

€5.73M▼

2024 · €6.25M

Debt ≤ 1 year

€5.72M▼

2024 · €6.25M

Income taxes

€227k▼

2024 · €304k

Staff costs

€3.14M▼

2024 · €3.23M

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 · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€12.80M€12.29M▼

Fixed assets21/28€858k€735k▼

Intangible fixed assets21€33k€24k▼

Tangible fixed assets22/27€823k€709k▼

Land and buildings22€508k€465k▼

Plant, machinery and equipment23€271k€227k▼

Furniture and vehicles24€44k€5k▼

Assets under construction and advance payments27-€13k

Financial fixed assets28€2k€2k▼

Other financial fixed assets284/8€2k€2k▼

Amounts receivable and cash guarantees285/8€2k€2k▼

Current assets29/58€11.94M€11.55M▼

Stocks and contracts in progress3€3.75M€3.43M▼

Stocks30/36€3.75M€3.43M▼

Goods purchased for resale34€3.75M€3.43M▼

Amounts receivable within one year40/41€3.76M€7.67M▲

Trade receivables40€3.75M€4.45M▲

Other amounts receivable41€1k€3.22M▲

Cash at bank and in hand54/58€4.43M€444k▼

Deferred charges and accrued income490/1€8k€8k▲

Equity and liabilities

Total equity and liabilities10/49€12.80M€12.29M▼

Equity10/15€6.55M€6.55M=

Contributions10/11€1.82M€1.82M=

Capital10€1.82M€1.82M=

Issued capital100€1.82M€1.82M=

Reserves13€818k€818k=

Non-distributable reserves130/1€182k€182k=

Legal reserve130€182k€182k=

Tax-exempt reserves132€84k€84k=

Distributable reserves133€551k€551k=

Profit (loss) carried forward14€3.92M€3.92M=

Amounts payable17/49€6.25M€5.73M▼

Amounts payable within one year42/48€6.25M€5.72M▼

Trade debts44€4.36M€4.34M▼

Suppliers440/4€4.36M€4.34M▼

Taxes, remuneration and social security45€889k€785k▼

Taxes450/3€420k€387k▼

Remuneration and social security454/9€469k€398k▼

Other amounts payable47/48€1.00M€595k▼

Accrued charges and deferred income492/3-€15k

Income statement Code20242025

Operating income70/76A€23.36M€23.29M▼

Turnover70€23.15M€23.06M▼

Other operating income74€124k€198k▲

Non-recurring operating income76A€86k€34k▼

Operating charges60/66A€22.43M€22.61M▲

Goods for resale, raw materials and consumables60€16.92M€16.88M▼

Purchases600/8€17.19M€16.58M▼

Change in stocks: decrease (increase)609€-276k€297k▲

Services and other goods61€1.97M€2.25M▲

Remuneration, social security and pensions62€3.23M€3.14M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€179k€134k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-48k€-57k▼

Other operating charges640/8€186k€269k▲

Operating profit (loss)9901€928k€680k▼

Financial income75/76B€191k€195k▲

Recurring financial income75€191k€195k▲

Income from current assets751€111k€93k▼

Other financial income752/9€80k€102k▲

Financial charges65/66B€42k€54k▲

Recurring financial charges65€42k€54k▲

Debt charges650€15k€22k▲

Other financial charges652/9€27k€32k▲

Profit (loss) for the period before taxes9903€1.08M€821k▼

Income taxes67/77€304k€227k▼

Taxes670/3€304k€227k▼

Profit (loss) for the period9904€774k€595k▼

Profit (loss) for the period to be appropriated9905€774k€595k▼

Appropriation of the result

Profit (loss) to be appropriated9906€4.92M€4.51M▼

Profit (loss) brought forward from the previous period14P€4.14M€3.92M▼

Profit to be distributed694/7€1.00M€595k▼

Return on contributions (dividend)694€1.00M€595k▼

Social balance

Average headcount (FTE)908740.536.1▼

The notes to these accounts (57 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 12Financial 2Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

12-06

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

31-12

Financial Weakest financial yearnet €595k ▼23.2%

Net result drops to €595k, the lowest in the series.

24-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

16-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

19-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

28-06

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

06-07

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

25-06

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-12

Financial Highest result since 2018net €1.61M ▲91.1%

Operating result €2.30M, net result €1.61M, both a record.

19-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

11-07

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

29-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

27 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, Leuven · 1 establishment unit since 1979

establishment The establishment unit on the map

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.

Aarschotsesteenweg 1143012 Leuven

Ground area

2.5 ha

Building footprint

1.2 ha

Volume, LiDAR

122,575 m³