VAROMAC
Open bankruptcyA bankruptcy procedure is open for VAROMAC according to publications in the Belgian State Gazette; curator: TOM HERMANS.
Summary
The 2020 annual accounts show equity of €63k and a net result of €10k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 30-08-2021, 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
30 d late
2019
90 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2020, abbreviated schema
Equity
€63k▲ 19.8%
2019 · €53k
2018: €50klowest in 3 years
2019: €53k▲ +5.8% vs 2018
2020: €63k▲ +19.8% vs 2019highest in 3 years
2018 → 2020
Total assets
€905k▲ 216%
2019 · €287k
2018: €360k
2019: €287k▼ -20.4% vs 2018lowest in 3 years
2020: €905k▲ +216% vs 2019highest in 3 years
2018 → 2020
Net result
€10k▲ 261%
2019 · €3k
2018: €7k
2019: €3k▼ -55.4% vs 2018lowest in 3 years
2020: €10k▲ +261% vs 2019highest in 3 years
2018 → 2020
Working capital
€15k▼ 73.9%
2019 · €58k
2018: €51k
2019: €58k▲ +14.2% vs 2018highest in 3 years
2020: €15k▼ -73.9% vs 2019lowest in 3 years
2018 → 2020
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line201820192020Trend
Equity€50k-€53k▲ 5.8%€63k▲ 19.8%
2018: €50klowest in 3 years
2019: €53k▲ +5.8% vs 2018
2020: €63k▲ +19.8% vs 2019highest in 3 years
Operating result€17k-€7k▼ 58.0%€20k▲ 180%
2018: €17k
2019: €7k▼ -58.0% vs 2018lowest in 3 years
2020: €20k▲ +180% vs 2019highest in 3 years
Net result€7k-€3k▼ 55.4%€10k▲ 261%
2018: €7k
2019: €3k▼ -55.4% vs 2018lowest in 3 years
2020: €10k▲ +261% vs 2019highest in 3 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2020; 2020 is 180% above 2019 and is the highest result in the available series.
Balance-sheet composition
2020 in colour, 2019 as the grey bar beneath
Assets €905k
Fixed assets
€48k ▲ 588%
Current assets
€857k ▲ 207%
Equity and liabilities €905k
Equity
€63k ▲ 19.8%
Debt
€842k ▲ 260%
Debt's share of the balance-sheet total rises from 81.6% to 93.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€24k▲
2019 · €11k
Cash flow
€14k▲
2019 · €6k
Current ratio
1.02▼
2019 · 1.26
ROE
16.6%▲
2019 · 5.5%
ROA
1.2%▲
2019 · 1.0%
Debt ≤ 1 year
€842k▲
2019 · €221k
Income taxes
€7k▲
2019 · €673
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 · 2020 against 2019 · 25 lines
Balance sheet
Code20192020
Assets
Total assets20/58€287k€905k▲
Fixed assets21/28€7k€48k▲
Tangible fixed assets22/27€5k€13k▲
Financial fixed assets28€2k€35k▲
Current assets29/58€280k€857k▲
Stocks and contracts in progress3€34k-
Amounts receivable within one year40/41€226k€820k▲
Cash at bank and in hand54/58€4k€21k▲
Equity and liabilities
Total equity and liabilities10/49€287k€905k▲
Equity10/15€53k€63k▲
Contributions10/11€19k-
Reserves13€34k€45k▲
Amounts payable17/49€234k€842k▲
Amounts payable after more than one year17€12k-
Amounts payable within one year42/48€221k€842k▲
Trade debts44€119k€694k▲
Income statement
Code20192020
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€4k▲
Gross operating margin9900€472k€477k▲
Operating profit (loss)9901€7k€20k▲
Recurring financial income75€5€224▲
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€4k€17k▲
Income taxes67/77€673€7k▲
Profit (loss) for the period9904€3k€10k▲
Profit (loss) for the period to be appropriated9905€3k€10k▲
Accounts by statement
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €3k | €4k | ▲ 3.6% |
| Gross operating margin9900 | €219k | €472k | €477k | ▲ 1.1% |
| Operating profit (loss)9901 | €17k | €7k | €20k | ▲ 180% |
| Recurring financial income75 | €2 | €5 | €224 | ▲ 4,370% |
| Recurring financial charges65 | €4k | €4k | €3k | ▼ 6.8% |
| Profit (loss) for the period before taxes9903 | €13k | €4k | €17k | ▲ 379% |
| Income taxes67/77 | €7k | €673 | €7k | ▲ 889% |
| Profit (loss) for the period9904 | €7k | €3k | €10k | ▲ 261% |
| Profit (loss) for the period to be appropriated9905 | €7k | €3k | €10k | ▲ 261% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €360k | €287k | €905k | ▲ 216% |
| Fixed assets21/28 | €32k | €7k | €48k | ▲ 588% |
| Tangible fixed assets22/27 | €30k | €5k | €13k | ▲ 181% |
| Financial fixed assets28 | €2k | €2k | €35k | ▲ 1,442% |
| Current assets29/58 | €328k | €280k | €857k | ▲ 207% |
| Stocks and contracts in progress3 | €89k | €34k | - | - |
| Amounts receivable within one year40/41 | €211k | €226k | €820k | ▲ 263% |
| Cash at bank and in hand54/58 | €13k | €4k | €21k | ▲ 493% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €360k | €287k | €905k | ▲ 216% |
| Equity10/15 | €50k | €53k | €63k | ▲ 19.8% |
| Contributions10/11 | €19k | €19k | - | - |
| Reserves13 | €31k | €34k | €45k | ▲ 30.6% |
| Amounts payable17/49 | €310k | €234k | €842k | ▲ 260% |
| Amounts payable after more than one year17 | €33k | €12k | - | - |
| Amounts payable within one year42/48 | €277k | €221k | €842k | ▲ 280% |
| Trade debts44 | €199k | €119k | €694k | ▲ 481% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €3k | €10k | ▲ 261% |
| + Depreciation and write-downs630 | €7k | €3k | €4k | ▲ 3.6% |
| Operating cash flow (approximation) | €13k | €6k | €14k | ▲ 122% |
| Investment in fixed assets (approximation) | - | €22k | €-45k | ▼ 305% |
| Change in cash | - | €-9k | €18k | ▲ 295% |
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
2021
09-11
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 28-10-2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Highest result since 2018net €10k ▲261%
Operating result €20k, net result €10k, both a record.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 90 days late
2019
31-12
Financial
Weakest financial yearnet €3k ▼55.4%
Net result drops to €3k, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Antwerpen · 1 establishment unit since 2016
Ground area
6,928 m²
Building footprint
6,855 m²
Parcel 11807G1333/00L035, Flanders. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
VM Logistics
since 20162.256.037.678
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G1333/00L035 | Flanders | 6,928 m² | 1 · 6,855 m² | - |
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | TOM HERMANS AMERIKALEI 122, 2000 ANTWERPEN 1- |
28-10-2021 → present |
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Of 2,128 companies in sector 46711 we hold annual accounts for 1,127. 752 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)
Founded29-06-2016
Fiscal year end31-12
Activities, NACEBEL 2025
46711Wholesale of cars and light vans (up to 3.5 tonnes)
47811Retail sale of cars and light vans (up to 3.5 tonnes)
46180Agents specialised in the wholesale of other particular products
Scores and ratios are computed by Checked and are not a credit decision.