Summary
VARES is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €82.92M and a net result of €2.48M. Equity is growing by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 5527 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-06-2026, 60 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
60 d early
2024
38 d early
2023
37 d early
2022
40 d early
2021
12 d late
2020
23 d late
2019
37 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€82.92M▲ 2.7%
2024 · €80.74M
2018: €65.27M
2019: €67.66M
2020: €70.30M
2021: €73.06M
2022: €76.43M
2023: €78.34M
2024: €80.74M
2018 → 2025
Net result
€2.48M▼ 14.7%
2024 · €2.90M
2018: €1.94M
2019: €2.38M
2020: €2.64M
2021: €2.76M
2022: €6.27M
2023: €3.01M
2024: €2.90M
2018 → 2025
Total assets
€83.28M▲ 2.4%
2024 · €81.34M
2018: €65.65M
2019: €68.47M
2020: €70.73M
2021: €73.16M
2022: €77.04M
2023: €79.74M
2024: €81.34M
2018 → 2025
Solvency
99.6%▲ 0.3pp
2024 · 99.3%
2018: 99.4%
2019: 98.8%
2020: 99.4%
2021: 99.9%
2022: 99.2%
2023: 98.2%
2024: 99.3%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€73.06M-€76.43M▲ 4.6%€78.34M▲ 2.5%€80.74M▲ 3.1%€82.92M▲ 2.7%
Operating result€-349k-€-135k▲ 61.2%€-609k▼ 350%€-536k▲ 11.9%€-566k▼ 5.5%
Net result€2.76M-€6.27M▲ 127%€3.01M▼ 52.1%€2.90M▼ 3.5%€2.48M▼ 14.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €566k in 2025 against €536k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €83.28M
Fixed assets
€68.71M ▲ 3.7%
Current assets
€14.58M ▼ 3.4%
Equity and liabilities €83.28M
Equity
€82.92M ▲ 2.7%
Provisions
€3k
Debt
€365k ▼ 38.7%
Debt's share of the balance-sheet total falls from 0.7% to 0.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
3.0%▼
2024 · 3.6%
ROA
3.0%▼
2024 · 3.6%
Debt ≤ 1 year
€358k▼
2024 · €591k
Income taxes
€65k▲
2024 · €56k
Staff costs
€126k▼
2024 · €129k
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 · 2025 against 2024 · 65 lines
Balance sheet
Code20242025
Assets
Total assets20/58€81.34M€83.28M▲
Fixed assets21/28€66.25M€68.71M▲
Tangible fixed assets22/27€4.49M€5.12M▲
Land and buildings22€4.32M€4.95M▲
Furniture and vehicles24€168k€173k▲
Financial fixed assets28€61.76M€63.59M▲
Current assets29/58€15.08M€14.58M▼
Amounts receivable after more than one year29€1.21M€1.22M▲
Other amounts receivable291€1.21M€1.22M▲
Amounts receivable within one year40/41€300k€213k▼
Trade receivables40€174k€76k▼
Other amounts receivable41€126k€137k▲
Current investments50/53€7.63M€12.43M▲
Cash at bank and in hand54/58€5.70M€502k▼
Deferred charges and accrued income490/1€251k€206k▼
Equity and liabilities
Total equity and liabilities10/49€81.34M€83.28M▲
Equity10/15€80.74M€82.92M▲
Contributions10/11€47.88M€47.88M=
Capital10€47.88M€47.88M=
Issued capital100€47.88M€47.88M=
Reserves13€5.30M€5.88M▲
Non-distributable reserves130/1€1.90M€2.02M▲
Legal reserve130€1.90M€2.02M▲
Tax-exempt reserves132€0€9k▲
Distributable reserves133€3.40M€3.85M▲
Profit (loss) carried forward14€27.57M€29.16M▲
Provisions and deferred taxes16-€3k
Deferred taxes168-€3k
Amounts payable17/49€595k€365k▼
Amounts payable within one year42/48€591k€358k▼
Trade debts44€74k€30k▼
Suppliers440/4€74k€30k▼
Taxes, remuneration and social security45€17k€28k▲
Taxes450/3€14k€17k▲
Remuneration and social security454/9€3k€12k▲
Other amounts payable47/48€500k€300k▼
Accrued charges and deferred income492/3€4k€7k▲
Income statement
Code20242025
Remuneration, social security and pensions62€129k€126k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€244k€354k▲
Other operating charges640/8€36k€36k▼
Non-recurring operating charges66A€9k€0▼
Gross operating margin9900€-119k€-51k▲
Operating profit (loss)9901€-536k€-566k▼
Financial income75/76B€3.69M€3.28M▼
Recurring financial income75€3.66M€3.26M▼
Non-recurring financial income76B€27k€27k▲
Financial charges65/66B€192k€175k▼
Recurring financial charges65€192k€175k▼
Profit (loss) for the period before taxes9903€2.96M€2.54M▼
Transfer from deferred taxes780-€430
Transfer to deferred taxes680-€3k
Income taxes67/77€56k€65k▲
Profit (loss) for the period9904€2.90M€2.48M▼
Transfer from tax-exempt reserves789€20k€1k▼
Transfer to tax-exempt reserves689-€10k
Profit (loss) for the period to be appropriated9905€2.92M€2.47M▼
Appropriation of the result
Profit (loss) to be appropriated9906€28.22M€30.03M▲
Profit (loss) brought forward from the previous period14P€25.30M€27.57M▲
Transfer from equity791/2€500k€300k▼
Transfer to equity691/2€652k€873k▲
To the legal reserve6920€152k€123k▼
To other reserves6921€500k€750k▲
Profit to be distributed694/7€500k€300k▼
Return on contributions (dividend)694€500k€300k▼
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
18-09
State Gazette act
Reappointments: Martine Reijnaers, Philippe Juliard and 3 others8 facts ▸
State Gazette act
Reappointments: Martine Reijnaers, Philippe Juliard and 3 others
8 facts ▸
- General meeting, 09-06-2026
- Director reappointment, Martine Reijnaers (director)
- Director reappointment, Philippe Juliard (director)
- Director reappointment, Clément Juliard (director)
- Director reappointment, Claire Juliard (director)
- Director reappointment, Thibault Juliard (director)
- Board meeting, 09-06-2026
- Director reappointment, Martine Reijnaers (managing director)
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
20-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 25.54
Current ratio from 12.33 to 25.54; short-term debt falls from €1.36M to €591k.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €6.27M ▲127%
Net result €6.27M, the highest in the series.
12-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 12 days late
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 23 days late
2020
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26117362). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Claire Juliard
CurrentDirector · since 09-06-2026
Clément Juliard
CurrentDirector · since 09-06-2026
Martine Reijnaers
CurrentDirector · since 09-06-2026
Philippe Juliard
CurrentDirector · since 09-06-2026
Thibault Juliard
CurrentDirector · since 09-06-2026
09-06-2026
Claire Juliard: Mandate renewed as Director
09-06-2026
Clément Juliard: Mandate renewed as Director
09-06-2026
Martine Reijnaers: Mandate renewed as Director
09-06-2026
Martine Reijnaers: Mandate renewed as Managing director
09-06-2026
Philippe Juliard: Mandate renewed as Director
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2004
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.
Zilverstraat 71000 BrusselGround area
7,386 m²
Building footprint
1,205 m²
Volume, LiDAR
36,627 m³
Parcel 21802B0872/00P000, Brussels · tallest building 42.1 m, ±10 floors. Linked by address, not a title deed.
1 establishment unit
-
since 20042.145.591.993
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21802B0872/00P000 | Brussels | 7,386 m² | 1 · 1,205 m² | 42.1 m · 10 fl. |
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.
Structure & network
Ownership & control
2 board mandatesBoard mandates of this companythis company sits on their board2
1 location
1 location
Recognitions · licences · registrations
Legal Entity Identifier
894500FXJKVL2R379R67
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Of 24,725 companies in sector 64210 we hold annual accounts for 19,762. 2,035 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 formPublic limited company
Founded10-09-2004
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.