VARINA
ActiveVARINA has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €862k and a net result of €213k. Equity is shrinking by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 45% of 208 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
71
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability82▲+69
Solvency67▲+9
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity short (current ratio 0.87 against 0.87 in 2023; short-term debt: 42.4% and cash: 1% of total assets), and 58.1% 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 · 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 22
Relative position
BE, all sectors
reference
Sector 22
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
41.9%
Return on assets
10.3%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-07-2025, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
3 d early
2023
28 d early
2022
30 d late
2021
2 d early
2020
24 d late
2019
39 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€213k
2023 · €-146k
2018: €143k
2019: €-15
2020: €-69k
2021: €-30k
2022: €-270k
2023: €-146k
2018 → 2024
Working capital
€-111k▼ 10.5%
2023 · €-101k
2018: €565k
2019: €635k
2020: €485k
2021: €285k
2022: €55k
2023: €-101k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.01M-€977k▼ 3.6%€838k▼ 14.2%€681k▼ 18.8%€862k▲ 26.7%
Operating result€-76k-€-34k▲ 55.3%€-269k▼ 690%€-133k▲ 50.5%€197k
Net result€-69k-€-30k▲ 56.7%€-270k▼ 802%€-146k▲ 46.1%€213k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €197k after a loss of €133k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.06M
Fixed assets
€1.30M▼ 4.7%
Current assets
€761k▲ 11.4%
Equity and liabilities €2.06M
Equity
€862k▲ 26.7%
Provisions
€200k▼ 45.4%
Debt
€996k=
The debt ratio falls from 48.7% to 48.4%. Equity is higher.
Key figures and ratios
EBITDA
€211k▲
2023 · €9k
Cash flow
€227k▲
2023 · €-3k
Solvency
41.9%▲
2023 · 33.3%
Current ratio
0.87▲
2023 · 0.87
Quick ratio
0.63▲
2023 · 0.63
Debt / equity
1.16▼
2023 · 1.46
ROE
24.7%▲
2023 · -21.4%
ROA
10.3%▲
2023 · -7.1%
Interest coverage
12.56▲
2023 · 0.35
Debt
€996k=
2023 · €996k
Debt ≤ 1 year
€872k▲
2023 · €784k
Debt > 1 year
€120k▼
2023 · €211k
Income taxes
€309▼
2023 · €515
Staff costs
€397k▼
2023 · €513k
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€2.04M€2.06M▲
Fixed assets21/28€1.36M€1.30M▼
Intangible fixed assets21€33k€29k▼
Tangible fixed assets22/27€1.32M€1.26M▼
Land and buildings22€703k€666k▼
Plant, machinery and equipment23€419k€460k▲
Furniture and vehicles24€25k€4k▼
Leasing and similar rights25€136k€94k▼
Assets under construction and advance payments27€40k€40k=
Financial fixed assets28€4k€4k=
Current assets29/58€683k€761k▲
Stocks and contracts in progress3€192k€208k▲
Stocks30/36€192k€208k▲
Amounts receivable within one year40/41€471k€513k▲
Trade receivables40€355k€397k▲
Other amounts receivable41€116k€116k▼
Cash at bank and in hand54/58€2k€20k▲
Deferred charges and accrued income490/1€17k€20k▲
Equity and liabilities
Total equity and liabilities10/49€2.04M€2.06M▲
Equity10/15€681k€862k▲
Contributions10/11€100k€100k=
Capital10€100k€100k=
Issued capital100€100k€100k=
Revaluation surpluses12-€0
Reserves13€330k€543k▲
Non-distributable reserves130/1€10k€10k=
Legal reserve130€10k€10k=
Tax-exempt reserves132€81k€76k▼
Distributable reserves133€239k€457k▲
Investment grants15€250k€219k▼
Provisions and deferred taxes16€367k€200k▼
Provisions for liabilities and charges160/5€329k€164k▼
Environmental obligations163€329k€164k▼
Deferred taxes168€38k€37k▼
Amounts payable17/49€996k€996k=
Amounts payable after more than one year17€211k€120k▼
Financial debts170/4€211k€120k▼
Amounts payable within one year42/48€784k€872k▲
Current portion of amounts payable after more than one year42€92k€88k▼
Financial debts43€244k€242k▼
Credit institutions430/8€244k€242k▼
Trade debts44€182k€269k▲
Suppliers440/4€182k€269k▲
Advances received on contracts in progress46€24k-
Taxes, remuneration and social security45€33k€39k▲
Taxes450/3€4k€5k▲
Remuneration and social security454/9€29k€34k▲
Other amounts payable47/48€209k€234k▲
Accrued charges and deferred income492/3€2k€4k▲
Income statement
Code20232024
Remuneration, social security and pensions62€513k€397k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€142k€14k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€890€6k▲
Other operating charges640/8€32k€20k▼
Operating charges capitalised as restructuring costs649-€-266
Gross operating margin9900€556k€632k▲
Operating profit (loss)9901€-133k€197k▲
Financial income75/76B€12k€32k▲
Recurring financial income75€12k€32k▲
Financial charges65/66B€26k€17k▼
Recurring financial charges65€26k€17k▼
Profit (loss) for the period before taxes9903€-147k€212k▲
Transfer from deferred taxes780€2k€2k=
Income taxes67/77€515€309▼
Profit (loss) for the period9904€-146k€213k▲
Transfer from tax-exempt reserves789€5k€5k=
Profit (loss) for the period to be appropriated9905€-141k€218k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-141k€218k▲
Transfer from equity791/2€141k-
Transfer to equity691/2-€218k
To other reserves6921-€218k
Social balance
Average headcount (FTE)908710.88.5▼
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €213k
Net result €213k after 5 loss-making years.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €-270k
Net result drops to €-270k, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 24 days late
2020
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €1MEq €1.08M ▲16.5%
Equity rises from €929k to €1.08M.
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 days late
2016
15-12
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 137 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Antoing · 1 establishment unit since 1993
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.
Route de Ramecroix 187640 AntoingGround area
1,131 m²
Building footprint
164 m²
Volume, LiDAR
1,095 m³
Parcel 57003B0033/00T000, Wallonia · tallest building 11.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VARINA
since 19932.063.641.841
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57003B0033/00T000 | Wallonia | 1,131 m² | 1 · 164 m² | 11.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 602 companies in sector 22260 we hold annual accounts for 282. 185 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded18-08-1993
Fiscal year end31-12
Activities, NACEBEL
22260Manufacture of rubber and plastic products
25240
Sources
Crossroads Bank for EnterprisesNational Bank · 29 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.