VARECA
ActiveSummary
VARECA has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.04M and a net result of €372k. Equity is growing by ~16.2% per year across the filed fiscal years. Its solvency ranks better than 68% of 2024 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. A confirmed filing finding caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability92▲+13
Solvency78▼-22
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days only on tighter terms
Liquidity ample (current ratio 14.11 against 5.72 in 2023; short-term debt: 2.6% and cash: 34% of total assets), and 47.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Sector 77
higher
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
52.7%
Return on assets
18.8%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-12-2025, 152 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
152 d late
2023
12 d late
2022
59 d late
2021
31 d late
2020
2 d early
2019
91 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€1.04M▲ 55.5%
2023 · €670k
2018: €256k
2019: €343k
2020: €461k
2021: €539k
2022: €605k
2023: €670k
2018 → 2024
Total assets
€1.98M▲ 156%
2023 · €773k
2018: €739k
2019: €718k
2020: €712k
2021: €806k
2022: €826k
2023: €773k
2018 → 2024
Net result
€372k▲ 472%
2023 · €65k
2018: €91k
2019: €87k
2020: €118k
2021: €78k
2022: €66k
2023: €65k
2018 → 2024
Working capital
€686k▲ 42.0%
2023 · €484k
2018: €279k
2019: €277k
2020: €367k
2021: €406k
2022: €466k
2023: €484k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€461k-€539k▲ 16.9%€605k▲ 12.3%€670k▲ 10.7%€1.04M▲ 55.5%
Operating result€133k-€95k▼ 28.6%€86k▼ 9.2%€89k▲ 3.4%€384k▲ 331%
Net result€118k-€78k▼ 34.1%€66k▼ 15.0%€65k▼ 1.6%€372k▲ 472%
Turnover and EBIT margin not published: the abbreviated or 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 331% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.98M
Fixed assets
€1.24M ▲ 565%
Current assets
€739k ▲ 26.1%
Equity and liabilities €1.98M
Equity
€1.04M ▲ 55.5%
Debt
€936k ▲ 814%
Debt's share of the balance-sheet total rises from 13.3% to 47.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€441k▲
2023 · €153k
Cash flow
€429k▲
2023 · €129k
Current ratio
14.11▲
2023 · 5.72
Debt to equity
0.90▲
2023 · 0.15
ROE
35.7%▲
2023 · 9.7%
ROA
18.8%▲
2023 · 8.4%
Interest coverage
41.10▼
2023 · 73.55
Debt ≤ 1 year
€52k▼
2023 · €102k
Debt > 1 year
€884k
Income taxes
€5k▼
2023 · €23k
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 · 2024 against 2023 · 46 lines
Balance sheet
Code20232024
Assets
Total assets20/58€773k€1.98M▲
Fixed assets21/28€186k€1.24M▲
Tangible fixed assets22/27€136k€1.24M▲
Land and buildings22-€1.09M
Plant, machinery and equipment23€136k€143k▲
Furniture and vehicles24-€5k
Financial fixed assets28€51k€604▼
Current assets29/58€586k€739k▲
Amounts receivable within one year40/41€176k€56k▼
Trade receivables40€172k€39k▼
Other amounts receivable41€4k€16k▲
Cash at bank and in hand54/58€394k€672k▲
Deferred charges and accrued income490/1€16k€11k▼
Equity and liabilities
Total equity and liabilities10/49€773k€1.98M▲
Equity10/15€670k€1.04M▲
Contributions10/11€10k€10k=
Reserves13€342k€392k▲
Distributable reserves133€342k€392k▲
Profit (loss) carried forward14€318k€640k▲
Amounts payable17/49€102k€936k▲
Amounts payable after more than one year17-€884k
Financial debts170/4-€884k
Amounts payable within one year42/48€102k€52k▼
Current portion of amounts payable after more than one year42€15k-
Trade debts44€13k€7k▼
Suppliers440/4€13k€7k▼
Taxes, remuneration and social security45€32k€2k▼
Taxes450/3€30k€2k▼
Remuneration and social security454/9€2k-
Other amounts payable47/48€42k€43k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€64k€57k▼
Other operating charges640/8€718€136k▲
Gross operating margin9900€154k€577k▲
Operating profit (loss)9901€89k€384k▲
Financial income75/76B€1k€3k▲
Recurring financial income75€1k€3k▲
Financial charges65/66B€2k€11k▲
Recurring financial charges65€2k€11k▲
Profit (loss) for the period before taxes9903€88k€377k▲
Income taxes67/77€23k€5k▼
Profit (loss) for the period9904€65k€372k▲
Profit (loss) for the period to be appropriated9905€65k€372k▲
Appropriation of the result
Profit (loss) to be appropriated9906€383k€690k▲
Profit (loss) brought forward from the previous period14P€318k€318k=
Transfer to equity691/2€65k€50k▼
To other reserves6921€65k€50k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 152 days late
2024
31-12
Financial
Highest result since 2018net €372k ▲472%
Operating result €384k, net result €372k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 14.11
Current ratio from 5.72 to 14.11; short-term debt falls from €102k to €52k.
31-12
Financial
Equity above €1MEq €1.04M ▲55.5%
7 profitable years in a row build equity to €1.04M.
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
31-12
Financial
Weakest financial yearnet €65k ▼1.6%
Net result drops to €65k, the lowest in the series; recovery starts the following year.
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 59 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Equity above €500kEq €539k ▲16.9%
4 profitable years in a row build equity to €539k.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
Show earlier events
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Assenede · 1 establishment unit since 2008
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.
Kapellestraat 129960 AssenedeGround area
2,520 m²
Building footprint
189 m²
Parcel 43002F0475/00D000, Flanders. Linked by address, not a title deed.
1 establishment unit
VARECA - ALGEMENE BOUWWERKEN
since 20082.172.520.381
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43002F0475/00D000 | Flanders | 2,520 m² | 1 · 189 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
HUYLEBROECK
BE 0684.997.469
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BE 0414.803.474
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SOGETRA
BE 0450.758.703
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GOVAERT EN VANHOUTTE
BE 0440.083.753
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JANEXT
BE 0462.796.106
Edegem · Eq €1.11M
Of 233 companies in sector 77221 we hold annual accounts for 125. 72 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-06-2008
Fiscal year end31-12
Activities, NACEBEL 2025
77221Rental and leasing activities
77330Rental and leasing activities
77399Renting and leasing of other machinery, equipment and tangible goods
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesE-mail:varecabouw@gmail.com
Phone:0473/752361
Fax:093345877