VARTES
ActiveSummary
VARTES has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €136,887 and a net result of -€6,744. Equity is shrinking by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 29% of 3173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+1
Solvency38=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity short (current ratio 0.25 against 0.22 in 2024; short-term debt: 35.8% and cash: 0.9% of total assets), and 86.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 -€6,744
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 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
17 d late
2024
24 d early
2023
8 d late
2022
30 d late
2021
16 d early
2020
24 d late
2019
87 d late
← 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 18 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% 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. Usually files around 9 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€136,887▼ 4.7%
2024 · €143,631
Total assets
€1.0m▼ 3.2%
2024 · €1.1m
Net result
-€6,744▲ 55.3%
2024 · -€15,098
Working capital
-€279,444▲ 6.2%
2024 · -€297,816
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€24,645▲ 42.9%-€14,574▲ 40.9%-€22,958▼ 57.5%-€7,487▲ 67.4%€46
Net result-€27,009below the sector's middle half▲ 51.6%-€18,052below the sector's middle half▲ 33.2%-€27,436below the sector's middle half▼ 52.0%-€15,098below the sector's middle half▲ 45.0%-€6,744below the sector's middle half▲ 55.3%
Equity€204,218within the sector's middle half▼ 11.7%€186,166within the sector's middle half▼ 8.8%€158,729within the sector's middle half▼ 14.7%€143,631within the sector's middle half▼ 9.5%€136,887within the sector's middle half▼ 4.7%
Total assets€1.2mabove the sector's middle half▼ 1.9%€1.2mabove the sector's middle half▼ 3.6%€1.1mabove the sector's middle half▼ 4.1%€1.1mabove the sector's middle half▼ 3.2%€1.0mabove the sector's middle half▼ 3.2%
Debt€997,449▲ 0.3%€971,762▼ 2.6%€952,280▼ 2.0%€931,620▼ 2.2%€903,909▼ 3.0%
Working capital-€349,100below the sector's middle half▼ 6.5%-€335,234below the sector's middle half▲ 4.0%-€322,169below the sector's middle half▲ 3.9%-€297,816below the sector's middle half▲ 7.6%-€279,444below the sector's middle half▲ 6.2%
Solvency17.0%within the sector's middle half▼ 1.9pp16.1%within the sector's middle half▼ 0.9pp14.3%within the sector's middle half▼ 1.8pp13.4%within the sector's middle half▼ 0.9pp13.2%within the sector's middle half▼ 0.2pp
Current ratio0.11below the sector's middle half=0.13below the sector's middle half▲ 0.020.16below the sector's middle half▲ 0.040.22below the sector's middle half▲ 0.050.25below the sector's middle half▲ 0.03
Return on assets (ROA)-2.2%below the sector's middle half▲ 2.3pp-1.6%within the sector's middle half▲ 0.7pp-2.5%within the sector's middle half▼ 0.9pp-1.4%within the sector's middle half▲ 1.1pp-0.6%within the sector's middle half▲ 0.8pp
Staff (FTE)0.4▲ 33.3%
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service 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 returns to profit in 2025: €46 after a loss of €7,487 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€948,015 ▼ 4.5%
Current assets
€92,782 ▲ 12.7%
Equity and liabilities €1.0m
Equity
€136,887 ▼ 4.7%
Debt
€903,909 ▼ 3.0%
Debt's share of the balance-sheet total rises from 86.6% to 86.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€61,127▲
2024 · €52,472
Cash flow
€54,337▲
2024 · €44,861
Quick ratio
0.04▼
2024 · 0.05
Debt to equity
6.60▲
2024 · 6.49
ROE
-4.9%▲
2024 · -10.5%
Interest coverage
9.35▲
2024 · 7.12
Debt ≤ 1 year
€372,226▼
2024 · €380,171
Debt > 1 year
€531,684▼
2024 · €551,449
Income taxes
€267▲
2024 · €264
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,423 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
1.0%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,423 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €3,591 | €0 | -€44 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €60,830 | €62,239 | €64,132 | €59,959 | €61,081 | ▲ 1.9% |
| Other operating charges640/8 | €2,962 | €3,296 | €4,903 | €4,390 | €4,193 | ▼ 4.5% |
| Gross operating margin9900 | €42,738 | €50,961 | €46,033 | €56,862 | €65,319 | ▲ 14.9% |
| Operating profit (loss)9901 | -€24,645 | -€14,574 | -€22,958 | -€7,487 | €46 | ▲ 101% |
| Financial income75/76B | €5,032 | €37 | €23 | €22 | €18 | ▼ 17.6% |
| Recurring financial income75 | €5,032 | €37 | €23 | €22 | €18 | ▼ 17.6% |
| Financial charges65/66B | €8,114 | €3,280 | €4,299 | €7,369 | €6,540 | ▼ 11.2% |
| Recurring financial charges65 | €8,114 | €3,039 | €4,299 | €7,369 | €6,540 | ▼ 11.2% |
| Non-recurring financial charges66B | - | €242 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€27,726 | -€17,817 | -€27,233 | -€14,834 | -€6,477 | ▲ 56.3% |
| Income taxes67/77 | -€717 | €236 | €203 | €264 | €267 | ▲ 1.1% |
| Profit (loss) for the period9904 | -€27,009 | -€18,052 | -€27,436 | -€15,098 | -€6,744 | ▲ 55.3% |
| Profit (loss) for the period to be appropriated9905 | -€27,009 | -€18,052 | -€27,436 | -€15,098 | -€6,744 | ▲ 55.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.1m | €1.1m | €1.0m | ▼ 3.2% |
| Fixed assets21/28 | €1.2m | €1.1m | €1.0m | €992,896 | €948,015 | ▼ 4.5% |
| Tangible fixed assets22/27 | €1.2m | €1.1m | €1.0m | €992,896 | €948,015 | ▼ 4.5% |
| Land and buildings22 | €1.0m | €997,280 | €952,138 | €906,996 | €861,855 | ▼ 5.0% |
| Plant, machinery and equipment23 | €113,830 | €99,367 | €85,372 | €76,005 | €77,132 | ▲ 1.5% |
| Furniture and vehicles24 | €13,706 | €12,171 | €10,761 | €9,894 | €9,028 | ▼ 8.8% |
| Current assets29/58 | €41,123 | €49,109 | €62,738 | €82,356 | €92,782 | ▲ 12.7% |
| Stocks and contracts in progress3 | €31,100 | €35,390 | €54,073 | €64,072 | €78,397 | ▲ 22.4% |
| Stocks30/36 | €31,100 | €35,390 | €54,073 | €64,072 | €78,397 | ▲ 22.4% |
| Amounts receivable within one year40/41 | €4,816 | €9,727 | €4,100 | €4,642 | €3,948 | ▼ 14.9% |
| Trade receivables40 | €4,407 | €9,727 | €4,100 | €4,642 | €3,948 | ▼ 14.9% |
| Other amounts receivable41 | €409 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €4,043 | €2,817 | €3,294 | €12,205 | €9,261 | ▼ 24.1% |
| Deferred charges and accrued income490/1 | €1,165 | €1,175 | €1,271 | €1,436 | €1,175 | ▼ 18.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.1m | €1.1m | €1.0m | ▼ 3.2% |
| Equity10/15 | €204,218 | €186,166 | €158,729 | €143,631 | €136,887 | ▼ 4.7% |
| Contributions10/11 | €368,600 | €368,600 | €368,600 | €368,600 | €368,600 | = |
| Reserves13 | €8,704 | €8,704 | €8,704 | €8,704 | €8,704 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | €1,860 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | €1,860 | €0 | ▼ 100% |
| Distributable reserves133 | €6,844 | €6,844 | €8,704 | €6,844 | €8,704 | ▲ 27.2% |
| Profit (loss) carried forward14 | -€173,086 | -€191,139 | -€218,575 | -€233,674 | -€240,418 | ▼ 2.9% |
| Amounts payable17/49 | €997,449 | €971,762 | €952,280 | €931,620 | €903,909 | ▼ 3.0% |
| Amounts payable after more than one year17 | €607,226 | €587,418 | €567,373 | €551,449 | €531,684 | ▼ 3.6% |
| Financial debts170/4 | €607,226 | €587,418 | €567,373 | €551,449 | €531,684 | ▼ 3.6% |
| Amounts payable within one year42/48 | €390,223 | €384,344 | €384,907 | €380,171 | €372,226 | ▼ 2.1% |
| Current portion of amounts payable after more than one year42 | €19,568 | €19,808 | €20,765 | €18,677 | €19,728 | ▲ 5.6% |
| Trade debts44 | €11,046 | €7,621 | €2,962 | €8,235 | €7,526 | ▼ 8.6% |
| Suppliers440/4 | €11,046 | €7,621 | €2,962 | €8,235 | €7,526 | ▼ 8.6% |
| Taxes, remuneration and social security45 | €218 | €1,123 | €1,677 | €4,322 | €5,057 | ▲ 17.0% |
| Taxes450/3 | €218 | €1,123 | €1,677 | €4,322 | €5,057 | ▲ 17.0% |
| Other amounts payable47/48 | €359,391 | €355,791 | €359,503 | €348,937 | €339,915 | ▼ 2.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€27,009 | -€18,052 | -€27,436 | -€15,098 | -€6,744 | ▲ 55.3% |
| + Depreciation and write-downs630 | €60,830 | €62,239 | €64,132 | €59,959 | €61,081 | ▲ 1.9% |
| Operating cash flow (approximation) | €33,820 | €44,187 | €36,695 | €44,861 | €54,337 | ▲ 21.1% |
| Investment in fixed assets (approximation) | - | -€10,513 | -€3,585 | -€4,584 | -€16,200 | ▼ 253% |
| Change in cash | - | -€1,226 | €477 | €8,911 | -€2,944 | ▼ 133% |
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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 17 days late
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
2019
31-12
Financial
Weakest financial yearnet -€87,324
Net result drops to -€87,324, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €200,000Eq €287,028 ▲1,079%
Equity rises from €24,352 to €287,028.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 22 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Tongeren-Borgloon · 3 establishment units since 2010
Ground area
5,605 m²
Building footprint
593 m²
Volume, LiDAR
2,528 m³
3 parcels, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
3 establishment units
VARTES
since 20102.190.260.790
Gereshof
since 20192.285.734.328
Vartes
since 20192.291.206.910
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73073A0799/00E000 | Flanders | 2,780 m² | 1 · 286 m² | 8.1 m · 1 fl. |
| 73044A0268/00B000 | Flanders | 2,141 m² | 1 · 135 m² | 10.2 m · 2 fl. |
| 73073B0174/00B000 | Flanders | 684 m² | 1 · 172 m² | 6.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesTongeren-Borgloon2.285.734.328
Tongeren-Borgloon2.291.206.910
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Of 20,577 companies in sector 01500 we hold annual accounts for 1,149. 899 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
Founded08-07-2010
Fiscal year end31-12
Activities, NACEBEL 2025
01500Mixed farming
70200Business and other management consultancy
82100Office administrative and support services
82990Other business support services
96994Pet training
96995Pet boarding
Contact
Phone
012/241618Tongeren-Borgloon
E-invoicing
Reachable via Peppol
Peppol ID
0208:0827714955
Registered
10-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.