VAROCON
ActiveSummary
VAROCON has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €196,886 and a net result of €8,813. Equity is growing by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 75% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-2
Solvency96▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15,000 at 30 days acceptable
Liquidity ample (current ratio 2.96 against 9.71 in 2024; short-term debt: 26% and cash: 34.1% of total assets), and 29.5% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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 2025Solvency, return and age of the figures
Solvency
70.5%
Return on assets
3.2%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
30 d late
2024
29 d late
2023
27 d early
2022
25 d early
2021
33 d early
2020
31 d early
2019
16 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€0
2023 · €0
Total assets
€279,264▲ 4.0%
2024 · €268,521
Net result
€8,813▼ 38.7%
2024 · €14,378
Working capital
€142,031▼ 11.9%
2024 · €161,242
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€0€0
Operating result€36,203▲ 16.8%€28,546▼ 21.1%€39,195▲ 37.3%€20,856▼ 46.8%€14,352▼ 31.2%
Net result€25,788within the sector's middle half▲ 15.6%€20,451within the sector's middle half▼ 20.7%€29,987above the sector's middle half▲ 46.6%€14,378within the sector's middle half▼ 52.1%€8,813within the sector's middle half▼ 38.7%
Equity€180,204above the sector's middle half▲ 16.7%€200,655above the sector's middle half▲ 11.3%€230,642above the sector's middle half▲ 14.9%€245,020above the sector's middle half▲ 6.2%€196,886above the sector's middle half▼ 19.6%
Total assets€229,232within the sector's middle half▲ 18.1%€240,834within the sector's middle half▲ 5.1%€264,696within the sector's middle half▲ 9.9%€268,521within the sector's middle half▲ 1.4%€279,264within the sector's middle half▲ 4.0%
Debt€49,028▲ 23.6%€40,179▼ 18.0%€34,055▼ 15.2%€23,501▼ 31.0%€82,379▲ 251%
Working capital€163,486▲ 21.2%€187,820▲ 14.9%€117,226▼ 37.6%€161,242▲ 37.5%€142,031▼ 11.9%
Solvency78.6%above the sector's middle half▼ 1.0pp83.3%above the sector's middle half▲ 4.7pp87.1%above the sector's middle half▲ 3.8pp91.2%above the sector's middle half▲ 4.1pp70.5%above the sector's middle half▼ 20.7pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 31% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €279,264
Fixed assets
€64,750 ▼ 27.1%
Current assets
€214,514 ▲ 19.3%
Equity and liabilities €279,264
Equity
€196,886 ▼ 19.6%
Debt
€82,379 ▲ 251%
Debt's share of the balance-sheet total rises from 8.8% to 29.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€39,108▼
2024 · €46,133
Cash flow
€33,570▼
2024 · €39,655
Current ratio
2.96▼
2024 · 9.71
Debt to equity
0.42▲
2024 · 0.10
ROE
4.5%▼
2024 · 5.9%
ROA
3.2%▼
2024 · 5.4%
Interest coverage
52.29▲
2024 · 40.32
Debt ≤ 1 year
€72,483▲
2024 · €18,502
Income taxes
€6,517▲
2024 · €5,338
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €0 | - | €0 | - |
| Non-recurring operating income76A | - | - | €4,959 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €0 | - | €0 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,580 | €11,657 | €19,938 | €25,277 | €24,757 | ▼ 2.1% |
| Other operating charges640/8 | €981 | €962 | €1,225 | €1,388 | €1,123 | ▼ 19.1% |
| Gross operating margin9900 | €48,764 | €41,165 | €60,358 | €47,521 | €40,232 | ▼ 15.3% |
| Operating profit (loss)9901 | €36,203 | €28,546 | €39,195 | €20,856 | €14,352 | ▼ 31.2% |
| Financial income75/76B | €8 | €113 | €352 | €5 | €1,726 | ▲ 33,952% |
| Recurring financial income75 | €8 | €113 | €352 | €5 | €1,726 | ▲ 33,952% |
| Financial charges65/66B | €258 | €225 | €148 | €1,144 | €748 | ▼ 34.6% |
| Recurring financial charges65 | €258 | €225 | €148 | €1,144 | €748 | ▼ 34.6% |
| Profit (loss) for the period before taxes9903 | €35,953 | €28,434 | €39,398 | €19,717 | €15,330 | ▼ 22.2% |
| Income taxes67/77 | €10,165 | €7,983 | €9,411 | €5,338 | €6,517 | ▲ 22.1% |
| Profit (loss) for the period9904 | €25,788 | €20,451 | €29,987 | €14,378 | €8,813 | ▼ 38.7% |
| Profit (loss) for the period to be appropriated9905 | €25,788 | €20,451 | €29,987 | €14,378 | €8,813 | ▼ 38.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €229,232 | €240,834 | €264,696 | €268,521 | €279,264 | ▲ 4.0% |
| Fixed assets21/28 | €23,957 | €13,910 | €113,464 | €88,778 | €64,750 | ▼ 27.1% |
| Tangible fixed assets22/27 | €23,957 | €13,910 | €113,464 | €88,778 | €64,750 | ▼ 27.1% |
| Plant, machinery and equipment23 | €2,452 | €3,062 | €2,243 | €976 | €255 | ▼ 73.8% |
| Furniture and vehicles24 | €21,505 | €10,848 | €111,221 | €87,802 | €64,495 | ▼ 26.5% |
| Current assets29/58 | €205,275 | €226,924 | €151,232 | €179,744 | €214,514 | ▲ 19.3% |
| Stocks and contracts in progress3 | €850 | €1,000 | €500 | €0 | - | - |
| Stocks30/36 | €850 | €1,000 | €500 | €0 | - | - |
| Amounts receivable within one year40/41 | €5,137 | €5,180 | €14,691 | €3,707 | €9,421 | ▲ 154% |
| Trade receivables40 | €5,137 | €5,180 | €7,571 | €1,046 | €3,814 | ▲ 265% |
| Other amounts receivable41 | €0 | €0 | €7,120 | €2,662 | €5,607 | ▲ 111% |
| Current investments50/53 | - | - | - | €104,999 | €109,859 | ▲ 4.6% |
| Cash at bank and in hand54/58 | €196,350 | €220,642 | €130,615 | €67,056 | €95,118 | ▲ 41.8% |
| Deferred charges and accrued income490/1 | €2,938 | €102 | €5,426 | €3,981 | €117 | ▼ 97.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €229,232 | €240,834 | €264,696 | €268,521 | €279,264 | ▲ 4.0% |
| Equity10/15 | €180,204 | €200,655 | €230,642 | €245,020 | €196,886 | ▼ 19.6% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Outside capital11 | €12,400 | €12,400 | €12,400 | - | - | - |
| Other1109/19 | €12,400 | €12,400 | €12,400 | - | - | - |
| Reserves13 | €167,804 | €188,255 | €218,242 | €232,620 | €184,486 | ▼ 20.7% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €165,944 | €186,395 | €216,382 | €230,760 | €182,626 | ▼ 20.9% |
| Amounts payable17/49 | €49,028 | €40,179 | €34,055 | €23,501 | €82,379 | ▲ 251% |
| Amounts payable after more than one year17 | €7,188 | €1,027 | €0 | - | - | - |
| Financial debts170/4 | €7,188 | €1,027 | €0 | - | - | - |
| Amounts payable within one year42/48 | €41,789 | €39,104 | €34,007 | €18,502 | €72,483 | ▲ 292% |
| Current portion of amounts payable after more than one year42 | €6,161 | €6,161 | €1,027 | €0 | - | - |
| Trade debts44 | €8,923 | €4,114 | €9,788 | €2,243 | €3,592 | ▲ 60.2% |
| Suppliers440/4 | €8,923 | €4,114 | €9,788 | €2,243 | €3,592 | ▲ 60.2% |
| Taxes, remuneration and social security45 | €11,237 | €12,446 | €4,264 | €7,246 | €6,509 | ▼ 10.2% |
| Taxes450/3 | €11,237 | €12,446 | €4,264 | €7,246 | €6,509 | ▼ 10.2% |
| Remuneration and social security454/9 | €0 | €0 | €0 | €0 | €0 | - |
| Other amounts payable47/48 | €15,468 | €16,382 | €18,927 | €9,013 | €62,382 | ▲ 592% |
| Accrued charges and deferred income492/3 | €50 | €48 | €48 | €4,999 | €9,896 | ▲ 97.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,788 | €20,451 | €29,987 | €14,378 | €8,813 | ▼ 38.7% |
| + Depreciation and write-downs630 | €11,580 | €11,657 | €19,938 | €25,277 | €24,757 | ▼ 2.1% |
| Operating cash flow (approximation) | €37,368 | €32,108 | €49,925 | €39,655 | €33,570 | ▼ 15.3% |
| Investment in fixed assets (approximation) | - | -€1,610 | -€119,492 | -€591 | -€730 | ▼ 23.6% |
| Change in cash | - | €24,291 | -€90,026 | -€63,559 | €28,062 | ▲ 144% |
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
Next filing, fiscal year 2026, expected by
2026
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2025
31-12
Financial
Weakest financial yearnet €8,813 ▼38.7%
Net result drops to €8,813, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 9.71
Current ratio from 4.45 to 9.71; short-term debt falls from €34,007 to €18,502.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €29,987 ▲46.6%
Operating result €39,195, net result €29,987, both a record.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200,000Eq €200,655 ▲11.3%
5 profitable years in a row build equity to €200,655.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150,000Eq €154,416 ▲16.9%
3 profitable years in a row build equity to €154,416.
15-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Nijlen · 1 establishment unit since 2012
Ground area
368 m²
Building footprint
116 m²
Volume, LiDAR
832 m³
Parcel 12026D0417/00N005, Flanders · tallest building 11.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VAROCON
since 20122.206.629.046
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12026D0417/00N005 | Flanders | 368 m² | 1 · 116 m² | 11.4 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.
Recognitions · licences · registrations
Legal Entity Identifier
254900WYYK5GS79J7B26
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,430 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded27-01-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0843265342
Also
9925:BE0843265342
Registered
19-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.