VARMADAL
ActiveSummary
VARMADAL has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €370k and a net result of €-23k. Equity is growing by ~18.1% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability11▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
cash: 4.6% of total assets, and 0% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
100%
Return on assets
-6.3%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-23k
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 03-07-2025, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d early
2023
15 d early
2022
25 d early
2021
31 d early
2020
44 d early
2019
49 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€370k▼ 5.9%
2023 · €394k
2018: €-54klowest in 7 years
2019: €174k▲ +422% vs 2018
2020: €225k▲ +29.1% vs 2019
2021: €355k▲ +57.8% vs 2020
2022: €420k▲ +18.1% vs 2021highest in 7 years
2023: €394k▼ -6.2% vs 2022
2024: €370k▼ -5.9% vs 2023
2018 → 2024
Total assets
€370k▼ 5.9%
2023 · €394k
2018: €191klowest in 7 years
2019: €413k▲ +116% vs 2018
2020: €523k▲ +26.8% vs 2019highest in 7 years
2021: €465k▼ -11.2% vs 2020
2022: €443k▼ -4.7% vs 2021
2023: €394k▼ -11.2% vs 2022
2024: €370k▼ -5.9% vs 2023
2018 → 2024
Net result
€-23k▲ 10.7%
2023 · €-26k
2018: €-11k
2019: €229k▲ +2244% vs 2018highest in 7 years
2020: €51k▼ -77.8% vs 2019
2021: €130k▲ +156% vs 2020
2022: €64k▼ -50.6% vs 2021
2023: €-26k▼ -141% vs 2022lowest in 7 years
2024: €-23k▲ +10.7% vs 2023
2018 → 2024
Working capital
€25k▼ 16.8%
2022 · €29k
2018: €-239klowest in 6 years
2019: €26k▲ +111% vs 2018
2020: €-131k▼ -598% vs 2019
2021: €-12k▲ +90.6% vs 2020
2022: €29k▲ +340% vs 2021highest in 6 years
2023: €25k▼ -16.8% vs 2022
2018 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€225k-€355k▲ 57.8%€420k▲ 18.1%€394k▼ 6.2%€370k▼ 5.9%
2020: €225klowest in 5 years
2021: €355k▲ +57.8% vs 2020
2022: €420k▲ +18.1% vs 2021highest in 5 years
2023: €394k▼ -6.2% vs 2022
2024: €370k▼ -5.9% vs 2023
Operating result€80k-€194k▲ 142%€91k▼ 53.3%€-26k€-23k▲ 10.7%
2020: €80k
2021: €194k▲ +142% vs 2020highest in 5 years
2022: €91k▼ -53.3% vs 2021
2023: €-26k▼ -129% vs 2022lowest in 5 years
2024: €-23k▲ +10.7% vs 2023
Net result€51k-€130k▲ 156%€64k▼ 50.6%€-26k€-23k▲ 10.7%
2020: €51k
2021: €130k▲ +156% vs 2020highest in 5 years
2022: €64k▼ -50.6% vs 2021
2023: €-26k▼ -141% vs 2022lowest in 5 years
2024: €-23k▲ +10.7% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €23k in 2024 against €26k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €370k
Fixed assets
€348k ▼ 5.7%
Current assets
€22k ▼ 9.4%
Key figures and ratios
EBITDA
€-2k▲
2023 · €-5k
Cash flow
€-2k▲
2023 · €-5k
Solvency
100.0%=
2023 · 100.0%
ROE
-6.3%▲
2023 · -6.6%
ROA
-6.3%▲
2023 · -6.6%
Interest coverage
-52.22▲
2023 · -126.03
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 37 lines
Balance sheet
Code20232024
Assets
Total assets20/58€394k€370k▼
Fixed assets21/28€369k€348k▼
Tangible fixed assets22/27€369k€348k▼
Land and buildings22€369k€348k▼
Current assets29/58€25k€22k▼
Stocks and contracts in progress3€252€252=
Stocks30/36€252€252=
Amounts receivable within one year40/41€8k€5k▼
Trade receivables40€7k€4k▼
Other amounts receivable41€1k€1k=
Cash at bank and in hand54/58€15k€17k▲
Deferred charges and accrued income490/1€2k-
Equity and liabilities
Total equity and liabilities10/49€394k€370k▼
Equity10/15€394k€370k▼
Contributions10/11€70k€70k=
Capital10€70k€70k=
Issued capital100€70k€70k=
Reserves13€285k€285k=
Non-distributable reserves130/1€7k€7k=
Legal reserve130€7k€7k=
Distributable reserves133€278k€278k=
Profit (loss) carried forward14€38k€15k▼
Amounts payable17/49€1-
Amounts payable within one year42/48€1-
Trade debts44€1-
Suppliers440/4€1-
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€21k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€-3k€-645▲
Operating profit (loss)9901€-26k€-23k▲
Financial charges65/66B€39€44▲
Recurring financial charges65€39€44▲
Profit (loss) for the period before taxes9903€-26k€-23k▲
Profit (loss) for the period9904€-26k€-23k▲
Profit (loss) for the period to be appropriated9905€-26k€-23k▲
Appropriation of the result
Profit (loss) to be appropriated9906€38k€15k▼
Profit (loss) brought forward from the previous period14P€64k€38k▼
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €19k | €21k | €21k | €21k | ▼ 0.7% |
| Other operating charges640/8 | - | €8k | €10k | €2k | €2k | ▲ 2.9% |
| Gross operating margin9900 | €137k | €220k | €122k | €-3k | €-645 | ▲ 80.6% |
| Operating profit (loss)9901 | €80k | €194k | €91k | €-26k | €-23k | ▲ 10.7% |
| Financial income75/76B | - | €1 | - | - | - | - |
| Recurring financial income75 | - | €1 | - | - | - | - |
| Financial charges65/66B | - | €3k | €3k | €39 | €44 | ▲ 11.5% |
| Recurring financial charges65 | €4k | €3k | €3k | €39 | €44 | ▲ 11.5% |
| Profit (loss) for the period before taxes9903 | €77k | €191k | €88k | €-26k | €-23k | ▲ 10.7% |
| Income taxes67/77 | €26k | €61k | €23k | - | - | - |
| Profit (loss) for the period9904 | €51k | €130k | €64k | €-26k | €-23k | ▲ 10.7% |
| Profit (loss) for the period to be appropriated9905 | €51k | €130k | €64k | €-26k | €-23k | ▲ 10.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €523k | €465k | €443k | €394k | €370k | ▼ 5.9% |
| Fixed assets21/28 | €357k | €368k | €390k | €369k | €348k | ▼ 5.7% |
| Tangible fixed assets22/27 | €357k | €368k | €390k | €369k | €348k | ▼ 5.7% |
| Land and buildings22 | - | €93k | €88k | €369k | €348k | ▼ 5.7% |
| Other tangible fixed assets26 | - | €275k | €302k | - | - | - |
| Current assets29/58 | €167k | €97k | €53k | €25k | €22k | ▼ 9.4% |
| Stocks and contracts in progress3 | €33k | €12k | €252 | €252 | €252 | = |
| Stocks30/36 | - | €12k | €252 | €252 | €252 | = |
| Amounts receivable within one year40/41 | - | €8k | €6k | €8k | €5k | ▼ 35.7% |
| Trade receivables40 | - | €4k | €5k | €7k | €4k | ▼ 41.3% |
| Other amounts receivable41 | - | €5k | €964 | €1k | €1k | = |
| Cash at bank and in hand54/58 | €134k | €77k | €47k | €15k | €17k | ▲ 12.9% |
| Deferred charges and accrued income490/1 | - | - | - | €2k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €523k | €465k | €443k | €394k | €370k | ▼ 5.9% |
| Equity10/15 | €225k | €355k | €420k | €394k | €370k | ▼ 5.9% |
| Contributions10/11 | €70k | €70k | €70k | €70k | €70k | = |
| Capital10 | - | €70k | €70k | €70k | €70k | = |
| Issued capital100 | - | €70k | €70k | €70k | €70k | = |
| Reserves13 | €155k | €285k | €285k | €285k | €285k | = |
| Non-distributable reserves130/1 | - | €7k | €7k | €7k | €7k | = |
| Legal reserve130 | - | €7k | €7k | €7k | €7k | = |
| Distributable reserves133 | - | €278k | €278k | €278k | €278k | = |
| Profit (loss) carried forward14 | €20 | €20 | €64k | €38k | €15k | ▼ 61.0% |
| Amounts payable17/49 | €298k | €109k | €23k | €1 | - | - |
| Amounts payable within one year42/48 | €298k | €109k | €23k | €1 | - | - |
| Trade debts44 | €131k | €351 | €150 | €1 | - | - |
| Suppliers440/4 | - | €351 | €150 | €1 | - | - |
| Taxes, remuneration and social security45 | - | €36k | €23k | - | - | - |
| Taxes450/3 | - | €36k | €23k | - | - | - |
| Other amounts payable47/48 | - | €73k | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51k | €130k | €64k | €-26k | €-23k | ▲ 10.7% |
| + Depreciation and write-downs630 | €9k | €19k | €21k | €21k | €21k | ▼ 0.7% |
| Operating cash flow (approximation) | €60k | €149k | €85k | €-5k | €-2k | ▲ 53.3% |
| Investment in fixed assets (approximation) | - | €-30k | €-43k | €0 | €0 | - |
| Change in cash | - | €-57k | €-30k | €-32k | €2k | ▲ 106% |
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
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-26k
Net result drops to €-26k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 15522current ratio 35035.10
Current ratio from 2.26 to 35035.10; short-term debt falls from €23k to €1.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 2.26
Current ratio from 0.89 to 2.26; short-term debt falls from €109k to €23k.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €200kEq €225k ▲29.1%
2 profitable years in a row build equity to €225k.
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 49 days late
2019
31-12
Financial
Back to profitnet €229k
Net result €229k after one loss-making year.
31-12
Financial
Liquidity times 43current ratio 1.11
Current ratio from 0.03 to 1.11; short-term debt falls from €245k to €238k.
Show earlier events
31-12
Financial
Equity above €150kEq €174k
Equity rises from €-54k to €174k.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
24-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Brasschaat · 1 establishment unit since 1995
Ground area
941 m²
Building footprint
109 m²
Volume, LiDAR
717 m³
Parcel 11323F0397/00M002, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
VARMADAL NV
since 19952.070.774.806
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11323F0397/00M002 | Flanders | 941 m² | 1 · 109 m² | 8.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPublic limited company
Founded10-02-1995
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.