VARTOLI

Active

Private limited companyfounded 20188 yrs activeKBO/BCE: BE 0693.759.143

The computed 12-month bankruptcy probability of VARTOLI is 2.1% (moderate). The 2024 annual accounts show equity of €10k and a net result of €15k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 78% of 18944 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

67 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability88▲+47

Solvency87▲+76

Growth41▲+3

Track record100

Bankruptcy probability, 12 months

2.1% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days acceptable

Liquidity ample (current ratio 2.04 against 29.2 in 2023; short-term debt: 37.8% and cash: 12.2% of total assets), and 37.8% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

62.2%

Return on assets

94.5%

Age of the figures

21 mo

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-06-2025, 44 days ahead of the deadline.

NBB · 6 filings

Deviation from the deadline

2025

not confirmed

2024

44 d early

2023

21 d early

2022

130 d late

2021

30 d early

2020

17 d early

2019

20 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Turnover

€117k▲ 3.0%

2023 · €113k

2019: €172k 2020: €24k 2021: €11k 2022: €102k 2023: €113k

2019 → 2024

EBIT margin

13.2%▲ 11.1pp

2023 · 2.1%

2019: 0.8% 2020: -46.4% 2021: -28.5% 2022: -12.1% 2023: 2.1%

2019 → 2024

Net result

€15k▲ 557%

2023 · €2k

2019: €1k 2020: €-11k 2021: €-3k 2022: €-13k 2023: €2k

2019 → 2024

Working capital

€6k▼ 82.0%

2023 · €36k

2019: €17k 2020: €6k 2021: €3k 2022: €16k 2023: €36k

2019 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€24k-€11k▼ 55.3%€102k▲ 838%€113k▲ 11.6%€117k▲ 3.0%

Equity€8k-€5k▼ 39.5%€-8k€-5k▲ 30.8%€10k

Operating result€-11k-€-3k▲ 72.6%€-12k▼ 299%€2k€15k▲ 557%

Net result€-11k-€-3k▲ 71.3%€-13k▼ 287%€2k€15k▲ 557%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2022 the operating result has climbed two years in a row; 2024 is 557% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €16k

22.9%

77.1%

Fixed assets €4k▲ 105%

Current assets €13k▼ 65.8%

Equity and liabilities €16k

62.2%

37.8%

Equity €10k

Debt €6k

Debt finances 37.8% of the balance-sheet total.

Key figures and ratios

2024 value · change against 2023

EBITDA

€16k▲

2023 · €2k

Cash flow

€16k▲

2023 · €2k

Solvency

62.2%▲

2023 · -13.7%

Current ratio

2.04▼

2023 · 29.20

Quick ratio

2.04▼

2023 · 29.20

Debt / equity

0.61▲

2023 · -8.32

ROE

151.9%

ROA

94.5%▲

2023 · 6.1%

Debt

€6k▼

2023 · €44k

Debt ≤ 1 year

€6k▲

2023 · €1k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€39k€16k▼

Fixed assets21/28€2k€4k▲

Tangible fixed assets22/27€31€2k▲

Plant, machinery and equipment23-€2k

Furniture and vehicles24€31-

Financial fixed assets28€2k€2k=

Current assets29/58€37k€13k▼

Amounts receivable within one year40/41€36k€11k▼

Trade receivables40€33k€8k▼

Other amounts receivable41€3k€3k=

Cash at bank and in hand54/58€779€2k▲

Equity and liabilities

Total equity and liabilities10/49€39k€16k▼

Equity10/15€-5k€10k▲

Contributions10/11€19k€19k=

Outside capital11€19k€19k=

Other1109/19€19k€19k=

Profit (loss) carried forward14€-24k€-8k▲

Amounts payable17/49€44k€6k▼

Amounts payable after more than one year17€43k-

Financial debts170/4€43k-

Amounts payable within one year42/48€1k€6k▲

Taxes, remuneration and social security45€1k€6k▲

Taxes450/3€1k€6k▲

Income statement Code20232024

Turnover70€113k€117k▲

Goods, raw materials, services and sundry goods60/61€111k€100k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€116€1k▲

Gross operating margin9900€2k€16k▲

Operating profit (loss)9901€2k€15k▲

Profit (loss) for the period before taxes9903€2k€15k▲

Profit (loss) for the period9904€2k€15k▲

Profit (loss) for the period to be appropriated9905€2k€15k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-24k€-8k▲

Profit (loss) brought forward from the previous period14P€-26k€-24k▲

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 10Financial 4Filings 6

2025

17-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Highest result since 2019net €15k ▲557%

Operating result €15k, net result €15k, both a record.

10-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Back to profitnet €2k

Net result €2k after 3 loss-making years.

08-12

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 130 days late

2022

31-12

Financial Weakest financial yearnet €-13k

Net result drops to €-13k, the lowest in the series; recovery starts the following year.

31-12

Financial Liquidity times 11current ratio 14.81

Current ratio from 1.29 to 14.81; short-term debt falls from €10k to €1k.

01-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

14-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

20-08

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 20 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2025

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

01-06-2025 Mustafa Ismail: Resigned as Director

30-09-2023 Bayryam Syuleyman Osman: Resigned as Manager

06-12-2021 Nedzhibe Emin: Resigned as Manager

08-05-2019 Gülbiyaz Sezer: Resigned as Manager

08-05-2019 Musa Sezer: Resigned as Manager

12-04-2019 Gülbiyaz Sezer: Resigned as Manager

12-04-2019 Musa Sezer: Resigned as Manager

Location & real-estate footprint

1 establishment unit since 2018

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.