VARIAL
ActiveSummary
VARIAL has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €108k and a net result of €-2k. Equity is growing by ~15% per year across the filed fiscal years. Its solvency ranks better than 61% of 3489 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability67▼-22
Solvency87▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 3.14 against 3.0 in 2024; short-term debt: 20.4% and cash: 46.8% of total assets), and 38% 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 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% 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
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
50 d early
2023
1 d early
2022
31 d early
2021
38 d early
2020
32 d early
2019
24 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · 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 monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Equity
€108k▼ 2.0%
2024 · €110k
Total assets
€174k▼ 3.7%
2024 · €180k
Net result
€-2k
2024 · €30k
Working capital
€76k▲ 11.0%
2024 · €69k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€38k▲ 292%€7k▼ 81.1%€59k▲ 725%€45k▼ 25.0%€-44
Net result€29k▲ 221%€5k▼ 82.9%€40k▲ 699%€30k▼ 25.8%€-2k
Equity€37k▲ 244%€42k▲ 13.5%€82k▲ 95.3%€110k▲ 34.7%€108k▼ 2.0%
Total assets€150k▲ 7.5%€166k▲ 10.1%€182k▲ 9.8%€180k▼ 0.9%€174k▼ 3.7%
Debt€114k▼ 12.0%€124k▲ 8.9%€100k▼ 19.0%€70k▼ 29.8%€66k▼ 6.3%
Working capital€15k▲ 341%€22k▲ 44.7%€38k▲ 71.9%€69k▲ 82.1%€76k▲ 11.0%
Staff (FTE)1=1=0.9▼ 10.0%
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 €44 after €45k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €174k
Fixed assets
€62k ▼ 19.9%
Current assets
€112k ▲ 8.5%
Equity and liabilities €174k
Equity
€108k ▼ 2.0%
Debt
€66k ▼ 6.3%
Debt's share of the balance-sheet total falls from 39.1% to 38.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€15k▼
2024 · €60k
Cash flow
€13k▼
2024 · €45k
Current ratio
3.14▲
2024 · 3.00
Debt to equity
0.61▼
2024 · 0.64
ROE
-2.1%▼
2024 · 26.9%
ROA
-1.3%▼
2024 · 16.4%
Interest coverage
13.13▼
2024 · 23.23
Debt ≤ 1 year
€35k▲
2024 · €34k
Debt > 1 year
€30k▼
2024 · €35k
Income taxes
€1k▼
2024 · €12k
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €30k | €32k | €32k | €185 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €16k | €15k | €16k | €15k | ▼ 2.6% |
| Other operating charges640/8 | €2k | €2k | €8k | €2k | €2k | ▲ 3.2% |
| Gross operating margin9900 | €84k | €57k | €115k | €63k | €18k | ▼ 72.0% |
| Operating profit (loss)9901 | €38k | €7k | €59k | €45k | €-44 | ▼ 100% |
| Financial income75/76B | €0 | - | €54 | €60 | €185 | ▲ 208% |
| Recurring financial income75 | €0 | - | €54 | €60 | €185 | ▲ 208% |
| Financial charges65/66B | €2k | €1k | €2k | €3k | €1k | ▼ 54.9% |
| Recurring financial charges65 | €2k | €1k | €2k | €3k | €1k | ▼ 54.9% |
| Profit (loss) for the period before taxes9903 | €37k | €6k | €58k | €42k | €-1k | ▼ 102% |
| Income taxes67/77 | €7k | €798 | €18k | €12k | €1k | ▼ 90.5% |
| Profit (loss) for the period9904 | €29k | €5k | €40k | €30k | €-2k | ▼ 108% |
| Profit (loss) for the period to be appropriated9905 | €29k | €5k | €40k | €30k | €-2k | ▼ 108% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €150k | €166k | €182k | €180k | €174k | ▼ 3.7% |
| Fixed assets21/28 | €91k | €76k | €93k | €77k | €62k | ▼ 19.9% |
| Tangible fixed assets22/27 | €91k | €76k | €93k | €77k | €62k | ▼ 19.9% |
| Land and buildings22 | €49k | €46k | €43k | €40k | €37k | ▼ 7.7% |
| Plant, machinery and equipment23 | €875 | €1k | €420 | €7 | - | - |
| Furniture and vehicles24 | €41k | €28k | €50k | €38k | €25k | ▼ 32.9% |
| Financial fixed assets28 | €60 | €60 | €60 | - | - | - |
| Current assets29/58 | €60k | €90k | €89k | €103k | €112k | ▲ 8.5% |
| Stocks and contracts in progress3 | €817 | €648 | - | - | - | - |
| Stocks30/36 | €817 | €648 | - | - | - | - |
| Amounts receivable within one year40/41 | €1k | €3k | €83 | €2k | €6k | ▲ 185% |
| Trade receivables40 | €1k | €701 | €83 | €2k | - | - |
| Other amounts receivable41 | - | €3k | - | - | €6k | - |
| Current investments50/53 | €5k | €8k | €11k | €17k | €23k | ▲ 35.4% |
| Cash at bank and in hand54/58 | €52k | €77k | €76k | €83k | €81k | ▼ 1.8% |
| Deferred charges and accrued income490/1 | €907 | €818 | €821 | €678 | €720 | ▲ 6.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €150k | €166k | €182k | €180k | €174k | ▼ 3.7% |
| Equity10/15 | €37k | €42k | €82k | €110k | €108k | ▼ 2.0% |
| Reserves13 | €37k | €42k | €82k | €110k | €110k | = |
| Distributable reserves133 | €37k | €42k | €82k | €110k | €110k | = |
| Profit (loss) carried forward14 | - | - | - | - | €-2k | - |
| Amounts payable17/49 | €114k | €124k | €100k | €70k | €66k | ▼ 6.3% |
| Amounts payable after more than one year17 | €69k | €56k | €48k | €35k | €30k | ▼ 14.5% |
| Financial debts170/4 | €69k | €56k | €38k | €34k | €30k | ▼ 12.1% |
| Other amounts payable178/9 | - | - | €10k | €993 | - | - |
| Amounts payable within one year42/48 | €44k | €68k | €51k | €34k | €35k | ▲ 3.4% |
| Current portion of amounts payable after more than one year42 | €13k | €13k | €12k | €13k | €5k | ▼ 59.9% |
| Trade debts44 | €11k | €28k | €18k | €7k | €12k | ▲ 66.2% |
| Suppliers440/4 | €11k | €28k | €18k | €7k | €12k | ▲ 66.2% |
| Advances received on contracts in progress46 | - | - | - | - | €2k | - |
| Taxes, remuneration and social security45 | €15k | €19k | €21k | €7k | €8k | ▲ 16.8% |
| Taxes450/3 | €10k | €11k | €21k | €7k | €6k | ▼ 19.5% |
| Remuneration and social security454/9 | €5k | €7k | - | - | €3k | - |
| Other amounts payable47/48 | €6k | €8k | €343 | €7k | €8k | ▲ 16.2% |
| Accrued charges and deferred income492/3 | - | - | €1k | €826 | €327 | ▼ 60.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29k | €5k | €40k | €30k | €-2k | ▼ 108% |
| + Depreciation and write-downs630 | €14k | €16k | €15k | €16k | €15k | ▼ 2.6% |
| Operating cash flow (approximation) | €43k | €21k | €55k | €45k | €13k | ▼ 70.9% |
| Investment in fixed assets (approximation) | - | €-1k | €-33k | €60 | €0 | ▼ 100% |
| Change in cash | - | €25k | €-949 | €6k | €-1k | ▼ 123% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Weakest financial yearnet €-2k
Net result drops to €-2k, the lowest in the series.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €100kEq €110k ▲34.7%
7 profitable years in a row build equity to €110k.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €86k ▲119%
Operating result €103k, net result €86k, both a record.
31-12
Financial
Equity above €100kEq €103k ▲118%
2 profitable years in a row build equity to €103k.
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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, Rixensart · 2 establishment units since 2014
Ground area
1,993 m²
Building footprint
836 m²
Volume, LiDAR
11,895 m³
2 parcels, Brussels, Wallonia · tallest building 19.1 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
Varial sprl
since 20142.233.098.069
VARIAL
since 20192.296.090.760
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21616G0176/00G003 | Brussels | 1,559 m² | 1 · 789 m² | 19.1 m · 6 fl. |
| 25033C0783/00A000 | Wallonia | 433 m² | 1 · 47 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.
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Of 6,288 companies in sector 74120 we hold annual accounts for 1,011. 804 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
Founded21-03-2014
Fiscal year end31-12
Activities, NACEBEL 2025
74120Graphic design and visual communication
63910Web portal activities
68110Buying and selling of own real estate
73110Advertising agencies
Contact
Website
www.varial.be
E-mail
berghmans.benoit@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.