Checked.be
Active
BE 0437.023.008Private limited company
VARITECH
Vekestraat 29 ·1910 Kampenhout, Belgium· 37 yrs active
Sector: Wholesale trade
(46496)
Conclusion
VARITECH has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €343k and a net result of €72k. Equity is growing by ~40.2% per year across the filed fiscal years. Its solvency ranks better than 65% of 9019 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €343k |
| Net result | €72k |
| Staff (FTE) | 3.3 |
| Better than sector | 65% |
Financial profile
91
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
88
Profitability
100
Solvency
89
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1989, 37 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
88
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€30k
estimate, not credit advice
Score history
48
2020
71
2021
84
2022
84
2023
88
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.62 (≥ 1.5)
+10
Leverage
Debt/equity 0.72 (< 1.0)
+10
Profitability
ROE 21% (≥ 10%)
+10
Interest coverage
Interest coverage 8.0× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 28-08-2025 with the NBB · fiscal year 2024 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~40.2%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 46, Wholesale trade · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 58.0% | 44.1% | |
| Net result | €72k | €40k | |
| Equity | €343k | €490k | |
| Gross operating margin | €283k | €267k | |
| Staff costs | €156k | €206k |
€125k
-26.8%
20-24
€72k
-29.1%
20-24
€107k
-16.9%
20-24
€591k
+1.3%
20-24
€343k
+26.5%
20-24
€128k
+32.0%
20-24
3
+65.0%
20-24
€156k
+46.6%
20-24
€21k
-45.8%
20-24
€24k
0.0%
20-24
€248k
-20.6%
20-24
€208k
-22.0%
20-24
€39k
-11.7%
20-24
1.62
+18.4%
20-24
0.77
-9.8%
20-24
58.0%
+24.9%
20-24
0.72
-37.3%
20-24
21.0%
-44.0%
20-24
12.1%
-30.0%
20-24
7.99
-26.4%
20-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €125k | €170k | €132k | €122k | €29k |
| Net profit | €72k | €101k | €80k | €71k | €71k |
| Cash flow | €107k | €129k | €104k | €90k | €91k |
| Staff costs | €156k | €106k | €74k | €67k | - |
| Income taxes | €21k | €38k | €28k | €31k | €2k |
| Dividends | - | €24k | €24k | €25k | - |
| Total assets | €591k | €584k | €563k | €580k | €415k |
| Equity | €343k | €271k | €194k | €137k | €91k |
| Debt | €248k | €313k | €369k | €443k | €324k |
| of which ≤ 1y | €208k | €267k | €291k | €354k | €215k |
| of which > 1y | €39k | €44k | €77k | €86k | €107k |
| Working capital | €128k | €97k | €46k | €20k | €-25k |
| Employees (FTE) | 3.3 | 2.0 | 1.5 | 1.5 | 1.5 |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Current ratio | 1.62 | 1.36 | 1.16 | 1.06 | 0.89 |
| Quick ratio | 0.77 | 0.86 | 0.80 | 0.83 | 0.43 |
| Working capital ratio | 21.7% | 16.6% | 8.2% | 3.5% | -5.9% |
| Solvency | 58.0% | 46.4% | 34.4% | 23.7% | 22.0% |
| Debt / equity | 0.72 | 1.16 | 1.91 | 3.22 | 1.17 |
| Long-term debt ratio | 0.11 | 0.16 | 0.40 | 0.63 | 1.17 |
| Interest coverage | 7.99 | 10.86 | 9.80 | 12.99 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 12.1% | 17.4% | 14.2% | 12.2% | 17.1% |
| ROE | 21.0% | 37.4% | 41.4% | 51.7% | 77.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €591k | €584k | €563k | €580k | €415k |
| Fixed assets | 21/28 | €255k | €220k | €226k | €206k | €224k |
| Intangible fixed assets | 21 | €30k | - | - | - | - |
| Tangible fixed assets | 22/27 | €224k | €220k | €226k | €206k | €224k |
| Financial fixed assets | 28 | €50 | €50 | €50 | €50 | €50 |
| Current assets | 29/58 | €336k | €364k | €337k | €374k | €191k |
| Stocks & contracts in progress | 3 | €176k | €136k | €104k | €80k | €98k |
| Amounts receivable within one year | 40/41 | €118k | €143k | €111k | €180k | €71k |
| Cash & bank | 54/58 | €34k | €82k | €115k | €106k | €13k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €591k | €584k | €563k | €580k | €415k |
| Equity | 10/15 | €343k | €271k | €194k | €137k | €91k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | - |
| Reserves | 13 | €2k | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €322k | €250k | €173k | €117k | €71k |
| Amounts payable | 17/49 | €248k | €313k | €369k | €443k | €324k |
| Amounts payable after one year | 17 | €39k | €44k | €77k | €86k | €107k |
| Amounts payable within one year | 42/48 | €208k | €267k | €291k | €354k | €215k |
| Trade debts payable within one year | 44 | €46k | €46k | €45k | €46k | €63k |
| Income statement | ||||||
| Gross operating margin | 9900 | €283k | €279k | €209k | €191k | €61k |
| Operating result | 9901 | €90k | €143k | €109k | €103k | €9k |
| Financial income | 75 | €18k | €12k | €13k | €8k | €4k |
| Financial charges | 65 | €16k | €16k | €13k | €9k | €8k |
| Result before taxes | 9903 | €92k | €139k | €108k | €102k | €4k |
| Income taxes | 67/77 | €21k | €38k | €28k | €31k | €2k |
| Net result for the period | 9904 | €72k | €101k | €80k | €71k | €2k |
| Result to be appropriated | 9905 | €72k | €101k | €80k | €71k | €2k |
Legal Structure
| NACE primary | Wholesale trade(46496) |
| Legal form | Private limited company(610) |
| Incorporation | 22-03-1989 |
| Status | Active |
| Postal code | 1910 |
Establishment units
VARITECH
since 19892.102.742.541
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23038A0436/00A000 | Flanders | 1.3 ha | 1 · 3,502 m² | 0.1 m |
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.
Updates
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Highest result since 2020net €101k ▲26.3%
Operating result €143k, net result €101k, both a record.
31-12
Financial
Equity above €200kEq €271k ▲39.9%
4 profitable years in a row build equity to €271k.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
31-12
Financial
Equity above €150kEq €194k ▲40.9%
3 profitable years in a row build equity to €194k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Equity above €100kEq €137k ▲50.4%
2 profitable years in a row build equity to €137k.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 59 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Wholesale trade46496
Names & trade names
| Legal nameNL | VARITECH |
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