Losses
-€73,734 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
VARMADAL
Lifetime
20 annual accounts with figures on one time axis, 31 filings since 1995peak €348,224 (2019)
-€1,810▼ €1,165
lowest -€28,347 (2007)
-€24,384▼ €1,099
peak €419,713 (2022)
€345,979▼ 6.6%
€100
Board3 names since 2019
2 directorsArnold Van Aperen and 1 other
Documentsfilings and deeds
18-06-202643 days before the deadline
2025abbreviated format
Gross margin from -€645 to -€1,810Loss of €24,3841 director appointed, 1 resignation, 1 reappointment 22-07
Key points
from the 2025 annual accountsFilings
31 annual accounts since 1995
The 2019 accounts came 49 days late. The other nine of the last ten were filed on time.
Turnover not published (abbreviated or micro format)
Checked score
91
Excellent
Financially stronger than 33% of micro companies without a NACE code
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.2%▲ +0.1 percentage points vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.1%▼ -0.2 percentage points vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025lowest value
10-2025: 0.1%● unchanged vs 09-2025lowest value
11-2025: 0.1%● unchanged vs 10-2025lowest value
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Loss of €24,384, the second in a row (financial year 2025)
lowers risk
Size: total assets €346,079
Equity €345,979 (100.0% of total assets)
No main activity registered
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 81% of them on solvency, 9% on liquidity, 11% on profitability and 28% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 12,322 companies had the same profile as VARMADAL has now. Each dot stands for 31 companies, two years later.
90.3%
were still trading
8.5%
stopped another way
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VARMADAL itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for VARMADAL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €30,000 on 30-day terms is acceptable
Cash is 3.9% of total assets. 0% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€24,384
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 days early
2024
28 days early
2023
15 days early
2022
25 days early
2021
31 days early
2020
44 days early
2019
49 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 20 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 3 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
1 director appointed, 1 resignation, 1 reappointment
Reappointment: Arnold Van Aperen (director) · Appointment: Fons Van Aperen (director) · Resignation: BV VAP SERVICES (day-to-day manager) · General meeting of 30-05-2025 · Gazette deed
2 directors reappointed
Arnold Van Aperen (managing director) and VAP Services (managing director) · Permanent representative: Alfons Van Aperen · General meeting of 31-05-2019 · Gazette deed
First establishment
VARMADAL NV, Leopoldslei 177, Brasschaat
Incorporation
published on 09-03-1995 · Gazette deed
Official details
Source: KBO- Status
- Active since 10-02-1995Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.070.774.8062930 Brasschaat, since 17-03-1995
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Annual accounts 2025
- €346,079▼ 6.6%
- Filing
- Filed on 18-06-2026, 43 days before the end of the filing period
Insights on VARMADAL
VARMADAL files the abbreviated format. That format states no turnover. The gross margin fell from €5,026 in 2006 to -€1,810 in 2025.
The balance sheet grew most from 2019 to 2020 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about VARMADAL
- What is the company number of VARMADAL?
- The company number of VARMADAL is 0454.556.054. The VAT number is the same number with BE in front: BE 0454.556.054.
- Where is VARMADAL based?
- The registered office is at Leopoldslei 177, 2930 Brasschaat.Company details
- What is the legal form of VARMADAL?
- VARMADAL is a public limited company (NV).
- When was VARMADAL founded?
- VARMADAL was founded on 10-02-1995.
- Is VARMADAL still active?
- Yes, VARMADAL is an active enterprise in the KBO register.
- What is the turnover of VARMADAL?
- The annual accounts for financial year 2025 state no turnover. The abbreviated or micro format does not require it.Financials
- Is VARMADAL profitable?
- In financial year 2025, VARMADAL made a loss of €24,384.
- Where can I find the annual accounts of VARMADAL?
- VARMADAL filed 31 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of VARMADAL due?
- VARMADAL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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