WARVAN
ActiveSummary
WARVAN has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€191,187) and a net result of €134. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 10% of 26049 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability35▲+31
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.31 against 1.86 in 2023; short-term debt: 40.5% and cash: 18.6% of total assets), but equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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 2024Solvency, return and age of the figures
Solvency
-81.1%
Return on assets
0.1%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 26049 sector peers (2024).
NBB · sector comparisonPosition among 26049 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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
not confirmed
2024
61 d late
2023
61 d late
2022
70 d late
2021
75 d late
2020
86 d late
2019
117 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 78 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€191,187▲ 0.1%
2023 · -€191,320
Total assets
€235,803▼ 16.0%
2023 · €280,761
Net result
€134
2023 · -€32,436
Working capital
€124,943▲ 1.2%
2023 · €123,462
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20202021202220232024
Operating result€448€47,817▲ 10,563%€18,137▼ 62.1%-€30,814€1,105
Net result-€777within the sector's middle half▲ 94.8%€46,119above the sector's middle half€16,575within the sector's middle half▼ 64.1%-€32,436below the sector's middle half€134within the sector's middle half
Equity-€221,578below the sector's middle half▼ 0.4%-€175,459below the sector's middle half▲ 20.8%-€158,884below the sector's middle half▲ 9.4%-€191,320below the sector's middle half▼ 20.4%-€191,187below the sector's middle half▲ 0.1%
Total assets€273,196within the sector's middle half▼ 15.0%€289,062within the sector's middle half▲ 5.8%€300,479within the sector's middle half▲ 3.9%€280,761within the sector's middle half▼ 6.6%€235,803within the sector's middle half▼ 16.0%
Debt€494,774▼ 8.7%€464,521▼ 6.1%€459,363▼ 1.1%€472,081▲ 2.8%€426,989▼ 9.6%
Working capital€93,394above the sector's middle half▲ 120%€140,525above the sector's middle half▲ 50.5%€162,837above the sector's middle half▲ 15.9%€123,462above the sector's middle half▼ 24.2%€124,943above the sector's middle half▲ 1.2%
Solvency-81.1%below the sector's middle half▼ 12.4pp-60.7%below the sector's middle half▲ 20.4pp-52.9%below the sector's middle half▲ 7.8pp-68.1%below the sector's middle half▼ 15.3pp-81.1%below the sector's middle half▼ 12.9pp
Current ratio1.54within the sector's middle half▲ 0.351.98within the sector's middle half▲ 0.442.22within the sector's middle half▲ 0.241.86within the sector's middle half▼ 0.372.31within the sector's middle half▲ 0.45
Return on assets (ROA)-0.3%within the sector's middle half▲ 4.3pp16.0%above the sector's middle half▲ 16.2pp5.5%within the sector's middle half▼ 10.4pp-11.6%below the sector's middle half▼ 17.1pp0.1%within the sector's middle half▲ 11.6pp
Staff (FTE)1within the sector's middle half=1=1=1=0.9▼ 10.0%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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 2024: €1,105 after a loss of €30,814 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €235,803
Fixed assets
€15,270 ▲ 15.3%
Current assets
€220,533 ▼ 17.6%
Key figures and ratios
EBITDA
€3,767▲
2023 · -€29,592
Cash flow
€2,796▲
2023 · -€31,214
Quick ratio
0.76▼
2023 · 0.90
Debt to equity
-2.23▲
2023 · -2.47
Interest coverage
1.99▲
2023 · -11.28
Debt ≤ 1 year
€95,589▼
2023 · €144,058
Debt > 1 year
€321,500=
2023 · €321,500
Staff costs
€71,991▲
2023 · €54,011
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,448 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.1%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 1,448 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €54,716 | €59,422 | €54,011 | €71,991 | ▲ 33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €51,651 | €1,611 | €855 | €1,223 | €2,663 | ▲ 118% |
| Other operating charges640/8 | - | €1,004 | €836 | €2,120 | €1,363 | ▼ 35.7% |
| Non-recurring operating charges66A | - | - | - | - | €1,570 | - |
| Gross operating margin9900 | €105,758 | €105,148 | €79,251 | €26,540 | €78,691 | ▲ 197% |
| Operating profit (loss)9901 | €448 | €47,817 | €18,137 | -€30,814 | €1,105 | ▲ 104% |
| Financial income75/76B | - | €1,070 | €1,159 | €1,002 | €922 | ▼ 7.9% |
| Recurring financial income75 | €1,546 | €1,070 | €1,159 | €1,002 | €922 | ▼ 7.9% |
| Financial charges65/66B | - | €2,768 | €2,721 | €2,624 | €1,894 | ▼ 27.8% |
| Recurring financial charges65 | €2,772 | €2,768 | €2,721 | €2,624 | €1,894 | ▼ 27.8% |
| Profit (loss) for the period before taxes9903 | -€777 | €46,119 | €16,575 | -€32,436 | €134 | ▲ 100% |
| Profit (loss) for the period9904 | -€777 | €46,119 | €16,575 | -€32,436 | €134 | ▲ 100% |
| Profit (loss) for the period to be appropriated9905 | -€777 | €46,119 | €16,575 | -€32,436 | €134 | ▲ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €273,196 | €289,062 | €300,479 | €280,761 | €235,803 | ▼ 16.0% |
| Fixed assets21/28 | €7,128 | €5,517 | €4,662 | €13,241 | €15,270 | ▲ 15.3% |
| Tangible fixed assets22/27 | €4,628 | €3,017 | €2,162 | €10,741 | €12,770 | ▲ 18.9% |
| Land and buildings22 | - | - | - | - | €4,530 | - |
| Plant, machinery and equipment23 | - | - | - | €9,120 | €7,159 | ▼ 21.5% |
| Furniture and vehicles24 | - | €138 | - | - | - | - |
| Other tangible fixed assets26 | - | €2,879 | €2,162 | €1,621 | €1,081 | ▼ 33.3% |
| Financial fixed assets28 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Current assets29/58 | €266,068 | €283,546 | €295,818 | €267,520 | €220,533 | ▼ 17.6% |
| Stocks and contracts in progress3 | €133,493 | €125,856 | €140,059 | €138,024 | €148,131 | ▲ 7.3% |
| Stocks30/36 | - | €125,856 | €140,059 | €138,024 | €148,131 | ▲ 7.3% |
| Amounts receivable within one year40/41 | €61,754 | €34,455 | €35,671 | €52,640 | €24,400 | ▼ 53.6% |
| Trade receivables40 | - | €33,769 | €33,755 | €50,590 | €18,310 | ▼ 63.8% |
| Other amounts receivable41 | - | €686 | €1,915 | €2,050 | €6,090 | ▲ 197% |
| Cash at bank and in hand54/58 | €61,779 | €114,270 | €114,585 | €71,994 | €43,869 | ▼ 39.1% |
| Deferred charges and accrued income490/1 | - | €8,965 | €5,504 | €4,861 | €4,133 | ▼ 15.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €273,196 | €289,062 | €300,479 | €280,761 | €235,803 | ▼ 16.0% |
| Equity10/15 | -€221,578 | -€175,459 | -€158,884 | -€191,320 | -€191,187 | ▲ 0.1% |
| Contributions10/11 | - | €350,000 | €350,000 | €350,000 | €350,000 | = |
| Reserves13 | €54,607 | €54,607 | €54,607 | €54,607 | €54,607 | = |
| 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 | - | €52,747 | €52,747 | €52,747 | €52,747 | = |
| Profit (loss) carried forward14 | -€626,184 | -€580,065 | -€563,490 | -€595,927 | -€595,793 | = |
| Amounts payable17/49 | €494,774 | €464,521 | €459,363 | €472,081 | €426,989 | ▼ 9.6% |
| Amounts payable after more than one year17 | €321,500 | €321,500 | €321,500 | €321,500 | €321,500 | = |
| Financial debts170/4 | - | €321,500 | €321,500 | €321,500 | €321,500 | = |
| Amounts payable within one year42/48 | €172,674 | €143,021 | €132,981 | €144,058 | €95,589 | ▼ 33.6% |
| Trade debts44 | €16,701 | €11,963 | €31,486 | €59,925 | €32,738 | ▼ 45.4% |
| Suppliers440/4 | - | €11,963 | €31,486 | €59,925 | €32,738 | ▼ 45.4% |
| Taxes, remuneration and social security45 | - | €8,322 | €4,712 | €9,333 | €3,637 | ▼ 61.0% |
| Taxes450/3 | - | €982 | - | €206 | €813 | ▲ 294% |
| Remuneration and social security454/9 | - | €7,340 | €4,712 | €9,127 | €2,825 | ▼ 69.1% |
| Other amounts payable47/48 | - | €122,736 | €96,783 | €74,799 | €59,214 | ▼ 20.8% |
| Accrued charges and deferred income492/3 | - | - | €4,883 | €6,523 | €9,900 | ▲ 51.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€777 | €46,119 | €16,575 | -€32,436 | €134 | ▲ 100% |
| + Depreciation and write-downs630 | €51,651 | €1,611 | €855 | €1,223 | €2,663 | ▲ 118% |
| Operating cash flow (approximation) | €50,874 | €47,730 | €17,430 | -€31,214 | €2,796 | ▲ 109% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€9,802 | -€4,692 | ▲ 52.1% |
| Change in cash | - | €52,491 | €315 | -€42,591 | -€28,126 | ▲ 34.0% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Back to profitnet €134
Net result €134 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 75 days late
2021
31-12
Financial
Back to profitnet €46,119
Net result €46,119 after 3 loss-making years.
25-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 86 days late
2020
25-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 117 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 58 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Waregem · 1 establishment unit since 1988
Ground area
606 m²
Building footprint
275 m²
Volume, LiDAR
2,408 m³
Parcel 34040C0276/00X004, Flanders · tallest building 13.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
WARVAN
since 19882.038.870.318
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34040C0276/00X004 | Flanders | 605 m² | 1 · 274 m² | 13.4 m · 3 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 170 EUR awarded · 170 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 170 EUR | 170 EUR |
Schemes
Recognitions · licences · registrations
Food safety, FASFC
1 siteWaregem2.038.870.318
Similar companies · same sector and region
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BE 0861.230.633
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BE 0820.832.410
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Apotheek Paul Vanderhaegen
BE 0428.308.844
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded16-06-1988
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0434428554
Also
9925:BE0434428554
Registered
25-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.