VAROBO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 31 filings
Every figure per financial year
The operating result for 2025 is a profit of €411, after a loss of €1,086 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,318 | - | - | €399 | - |
| Depreciation and write-downs of the year | €206 | €264 | €132 | €274 | €343 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €332 | €332 | €332 | €206 | €264 | €132 | €274 | €343 | ▲ 25.5% |
| Other operating charges640/8 | - | - | - | €472 | €535 | €571 | €187 | €187 | = |
| Gross operating margin9900 | €3,279 | €4,255 | €1,226 | €1,311 | €874 | -€996 | -€625 | €941 | - |
| Operating profit (loss)9901 | €2,538 | €3,514 | €546 | €634 | €76 | -€1,699 | -€1,086 | €411 | - |
| Financial income75/76B | - | - | - | - | - | - | €0 | - | - |
| Recurring financial income75 | €0 | - | €0 | - | - | - | €0 | - | - |
| Financial charges65/66B | - | - | - | €48 | €55 | €56 | €54 | €54 | = |
| Recurring financial charges65 | €48 | -€131 | €48 | €48 | €55 | €56 | €54 | €54 | = |
| Profit (loss) for the period before taxes9903 | €2,490 | €3,645 | €499 | €586 | €21 | -€1,755 | -€1,140 | €357 | - |
| Income taxes67/77 | €1,137 | €1,445 | €594 | €494 | €416 | - | €185 | €595 | ▲ 222% |
| Profit (loss) for the period9904 | €1,354 | €2,201 | -€95 | €92 | -€396 | -€1,755 | -€1,324 | -€238 | ▲ 82.0% |
| Profit (loss) for the period to be appropriated9905 | €1,354 | €2,201 | -€95 | €92 | -€396 | -€1,755 | -€1,324 | -€238 | ▲ 82.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €25,937 | €27,791 | €25,725 | €24,866 | €24,339 | €22,045 | €23,139 | €25,337 | ▲ 9.5% |
| Fixed assets21/28 | €663 | €332 | €0 | €1,112 | €849 | €717 | €842 | €499 | ▼ 40.8% |
| Tangible fixed assets22/27 | €663 | €332 | €0 | €1,112 | €849 | €717 | €842 | €499 | ▼ 40.8% |
| Furniture and vehicles24 | - | - | - | €1,112 | €849 | €717 | €842 | €499 | ▼ 40.8% |
| Current assets29/58 | €25,274 | €27,459 | €25,725 | €23,754 | €23,490 | €21,327 | €22,297 | €24,838 | ▲ 11.4% |
| Amounts receivable within one year40/41 | €22,797 | €23,988 | €22,807 | €20,410 | €19,596 | €17,565 | €16,353 | €17,451 | ▲ 6.7% |
| Trade receivables40 | - | - | - | €16,078 | €15,037 | €16,300 | €16,353 | €17,451 | ▲ 6.7% |
| Other amounts receivable41 | - | - | - | €4,332 | €4,559 | €1,265 | - | - | - |
| Cash at bank and in hand54/58 | €1,964 | €3,426 | €2,492 | €2,921 | €3,421 | €3,335 | €5,514 | €6,955 | ▲ 26.1% |
| Deferred charges and accrued income490/1 | - | - | - | €424 | €474 | €428 | €430 | €432 | ▲ 0.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €25,937 | €27,791 | €25,725 | €24,866 | €24,339 | €22,045 | €23,139 | €25,337 | ▲ 9.5% |
| Equity10/15 | €19,281 | €21,482 | €21,387 | €21,479 | €21,083 | €19,328 | €18,004 | €17,766 | ▼ 1.3% |
| Contributions10/11 | €11,106 | €11,106 | - | €11,106 | €11,106 | €11,106 | €11,106 | €11,106 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | - | €1,859 | €1,859 | = |
| Distributable reserves133 | - | - | - | - | - | €1,859 | - | - | - |
| Profit (loss) carried forward14 | €6,316 | €8,517 | €8,422 | €8,514 | €8,118 | €6,363 | €5,039 | €4,801 | ▼ 4.7% |
| Amounts payable17/49 | €6,656 | €6,309 | €4,338 | €3,388 | €3,256 | €2,716 | €5,135 | €7,571 | ▲ 47.4% |
| Amounts payable within one year42/48 | €5,234 | €4,881 | €4,338 | €3,388 | €3,256 | €2,716 | €5,135 | €7,571 | ▲ 47.4% |
| Trade debts44 | - | - | - | - | €46 | - | €244 | - | - |
| Suppliers440/4 | - | - | - | - | €46 | - | €244 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,088 | €910 | €416 | €185 | €780 | ▲ 322% |
| Taxes450/3 | - | - | - | €1,088 | €910 | €416 | €185 | €780 | ▲ 322% |
| Other amounts payable47/48 | - | - | - | €2,300 | €2,300 | €2,300 | €4,707 | €6,792 | ▲ 44.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,354 | €2,201 | -€95 | €92 | -€396 | -€1,755 | -€1,324 | -€238 | ▲ 82.0% |
| + Depreciation and write-downs630 | €332 | €332 | €332 | €206 | €264 | €132 | €274 | €343 | ▲ 25.5% |
| Operating cash flow (approximation) | €1,685 | €2,532 | €237 | €298 | -€132 | -€1,623 | -€1,051 | €105 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,318 | €0 | €0 | -€399 | €0 | - |
| Change in cash | - | €1,462 | -€933 | €429 | €500 | -€85 | €2,178 | €1,441 | ▼ 33.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as VAROBO has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of VAROBO itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 VAROBO. 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.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-06-2026 | 2026-00207033 | |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00325966 | |
| 31-12-2023 | micro format | 13-12-2024 | 2024-00617993 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00200109 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20127110 | |
| 31-12-2020 | micro format | 17-08-2021 | 2021-50000078 | |
| 31-12-2019 | micro format | 09-07-2020 | 2020-27600365 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-40600470 | |
| 31-12-2017 | micro format | 31-07-2018 | 2018-40100222 | |
| 31-12-2016 | micro format | 11-07-2017 | 2017-29200339 |