ACTIVE

VARM

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Financial year 2025 · closed on 31/03/2025

Net result

5,2 k €

+292.2% YoY

Gross margin

167,7 k €

-7.1% YoY

Equity

469,1 k €

+1.1% YoY

Workforce

2,8 ETP

-30.0% YoY

What does VARM do?

VARM is a Public limited company incorporated in 1985. Its main activity is: Retail sale of electrical household appliances in specialised stores. Its registered office is in Wevelgem. It employs on average 2,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0426.824.942

Incorporation

14/02/1985

Legal form

Public limited company

Registered office

Kortrijkstraat 41
8560 Wevelgem · FlandreSee on map

Contributed capital

73 736,11 €

Latest accounts

31/03/2025

Average workforce

2,8 ETP

Activities (NACE)

47540Retail sale of electrical household appliances in specialised stores· main 47540Retail sale of electrical household appliances in specialised stores 47559Retail sale of other household equipment in specialised stores 47599Retail sale of furniture, lighting equipment and other household articles in specialised stores 52450Warehousing and support activities for transportation 47781Other retail sale of new goods in specialised stores+1

Joint committees (1)

14904

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	167,7 k €	-7.1%	180,5 k €	-8.7%	197,7 k €	+81.0%	109,3 k €	-48.7%	213,1 k €	-8.3%	232,3 k €	+21.6%	191 k €	-14.1%	222,4 k €	+5.4%	211 k €	-0.2%	211,4 k €	+2.4%	206,4 k €	+9.8%	188 k €	-2.9%	193,5 k €	+0.8%	191,9 k €	+17.7%	163 k €	-17.7%	198 k €	+47.8%	133,9 k €	+28.3%	104,4 k €
EBITDA	30,7 k €	-2.1%	31,4 k €	+23.6%	25,4 k €	-5.0%	26,7 k €	-13.8%	31 k €	-22.4%	39,9 k €	+36.0%	29,3 k €	+17.6%	25 k €	-31.7%	36,5 k €	-26.2%	49,5 k €	+3.2%	48 k €	+53.7%	31,2 k €	-44.7%	56,4 k €	-12.0%	64,1 k €	+107%	31 k €	-33.0%	46,3 k €	+27.6%	36,3 k €	+1133%	2,9 k €
Operating result	14,8 k €	+5.5%	14,1 k €	+349%	3,1 k €	+247%	-2,1 k €	+35.3%	-3,3 k €	-289%	1,7 k €	+129%	-6 k €	+44.3%	-10,8 k €	-481%	2,8 k €	-82.8%	16,5 k €	+463%	2,9 k €	+413%	-939,8 €	-103%	28,6 k €	-5.8%	30,4 k €	+1053%	-3,2 k €	-125%	12,7 k €	+31.2%	9,7 k €	+192%	-10,5 k €
Net result	5,2 k €	+292%	1,3 k €	-77.5%	5,8 k €	+301%	-2,9 k €	-345%	1,2 k €	+18.9%	993,4 €	+131%	-3,2 k €	-4.0%	-3,1 k €	-404%	1 k €	-22.3%	1,3 k €	+120%	-6,7 k €	+62.7%	-18,1 k €	-309%	8,6 k €	-27.2%	11,8 k €	+148%	-24,7 k €	-206%	-8,1 k €	-278%	4,5 k €	+576%	669,7 €
Balance sheet
Equity	469,1 k €	+1.1%	463,9 k €	+0.3%	462,6 k €	+2.2%	452,4 k €	-0.6%	455,3 k €	+0.3%	454,2 k €	+0.2%	453,2 k €	-0.7%	456,4 k €	-0.7%	459,5 k €	+0.2%	458,5 k €	+0.3%	457,2 k €	-1.5%	463,9 k €	-3.7%	482 k €	+1.8%	473,3 k €	+2.6%	461,5 k €	-5.1%	486,2 k €	-1.6%	494,3 k €	+0.9%	489,8 k €
Total assets	860,9 k €	+0.0%	860,6 k €	-8.1%	936,9 k €	-18.5%	1,1 M €	+0.5%	1,1 M €	-6.3%	1,2 M €	+4.6%	1,2 M €	+2.0%	1,1 M €	-2.0%	1,2 M €	-0.7%	1,2 M €	+15.3%	1 M €	-7.0%	1,1 M €	+4.0%	1,1 M €	+0.8%	1 M €	+4.3%	1 M €	+2.2%	981,2 k €	+15.5%	849,9 k €	+27.8%	664,8 k €
Cash	76,9 k €	-22.0%	98,6 k €	+353%	21,8 k €	+13.3%	19,2 k €	-10.3%	21,4 k €	-27.3%	29,5 k €	+14.5%	25,7 k €	+66.5%	15,5 k €	-74.0%	59,4 k €	-8.0%	64,6 k €	+120%	29,3 k €	+2.3%	28,7 k €	-12.0%	32,6 k €	+285%	8,5 k €	-73.6%	32,1 k €	+9.9%	29,2 k €	-34.1%	44,3 k €	+89.7%	23,4 k €
Debts	387 k €	-1.9%	394,5 k €	-16.8%	474,3 k €	-32.0%	697,3 k €	+1.2%	688,8 k €	-9.5%	761,2 k €	+6.6%	714,2 k €	+3.7%	688,5 k €	-2.9%	708,7 k €	-1.2%	717,5 k €	+27.6%	562,3 k €	-10.8%	630,5 k €	+10.6%	570 k €	-0.2%	571,3 k €	+5.6%	541,2 k €	+9.4%	494,8 k €	+39.2%	355,5 k €	+111%	168,1 k €
Other
Workforce	2,8 ETP	-30.0%	4,0 ETP	-20.0%	5,0 ETP	+25.0%	4,0 ETP	-36.5%	6,3 ETP	-1.6%	6,4 ETP	+20.8%	5,3 ETP	+6.0%	5,0 ETP	+11.1%	4,5 ETP	+12.5%	4,0 ETP	0.0%	4,0 ETP	+2.6%	3,9 ETP	0.0%	3,9 ETP	+21.9%	3,2 ETP	0.0%	3,2 ETP	-27.3%	4,4 ETP	+12.8%	3,9 ETP	+14.7%	3,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/03/2025 · 1 active · 15 ended

Active mandates

BENOIT VANSTEENBRUGGE

Director · since 13 février 2020

Active

Ended mandates

BENOIT VANSTEENBRUGGE

Director · since 03 mai 2024 · until 03 mai 2030

Ended

Y.V.S.

Director · since 03 mai 2024 · until 03 mai 2030 · 0436.019.849

Represented by YVES VANSTEENBRUGGE

Ended

YVES VANSTEENBRUGGE

Managing director · since 03 mai 2024 · until 03 mai 2030

Ended

Y.V.S.

Director · since 01 mai 2006 · until 30 avril 2011 · 0436.019.849

Represented by YVES VANSTEENBRUGGE

Ended

Annual accounts

Full financial information

	2025	2024	2023	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/04/2024	01/04/2023	01/04/2022	01/04/2020	01/04/2019	01/04/2018
Closing of the financial year	31/03/2025	31/03/2024	31/03/2023	31/03/2021	31/03/2020	31/03/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/10/2025	29/11/2024	26/10/2023	25/10/2021	10/11/2020	31/10/2019
General meeting	30/10/2025	12/11/2024	12/09/2023	14/09/2021	08/09/2020	10/09/2019
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

18 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/03/2025	30/10/2025	31/10/2025	Dutch	PDF
Abridged model	31/03/2024	12/11/2024	29/11/2024	Dutch	PDF
Abridged model	31/03/2023	12/09/2023	26/10/2023	Dutch	PDF
Abridged model	31/03/2021	14/09/2021	25/10/2021	Dutch	PDF
Abridged model	31/03/2020	08/09/2020	10/11/2020	Dutch	PDF
Abridged model	31/03/2019	10/09/2019	31/10/2019	Dutch	PDF
Abridged model	31/03/2018	11/09/2018	30/10/2018	Dutch	PDF
Abridged model	31/03/2017	12/09/2017	30/10/2017	Dutch	PDF
Abridged model	31/03/2016	13/09/2016	20/10/2016	Dutch	PDF
Abridged model	31/03/2015	08/09/2015	01/10/2015	Dutch	PDF
Abridged model	31/03/2014	09/09/2014	29/09/2014	Dutch	PDF
Abridged model	31/03/2013	10/09/2013	22/10/2013	Dutch	PDF
Abridged model	31/03/2012	11/09/2012	29/10/2012	Dutch	PDF
Abridged model	31/03/2011	13/09/2011	28/11/2011	Dutch	PDF
Abridged model	31/03/2010	14/09/2010	30/09/2010	Dutch	PDF
Abridged model	31/03/2009	08/09/2009	16/10/2009	Dutch	PDF
Abridged model	31/03/2008	09/09/2008	25/11/2008	Dutch	PDF
Abridged model	31/03/2007	11/09/2007	21/09/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/03/2025 · 1 active · 15 ended

Active mandates

BENOIT VANSTEENBRUGGE

Director · since 13 février 2020

Active

Ended mandates

BENOIT VANSTEENBRUGGE

Director · since 03 mai 2024 · until 03 mai 2030

Ended

Y.V.S.

Director · since 03 mai 2024 · until 03 mai 2030 · 0436.019.849

Represented by YVES VANSTEENBRUGGE

Ended

YVES VANSTEENBRUGGE

Managing director · since 03 mai 2024 · until 03 mai 2030

Ended

Y.V.S.

Director · since 01 mai 2006 · until 30 avril 2011 · 0436.019.849

Represented by YVES VANSTEENBRUGGE

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/05/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/03/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/06/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/08/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/05/2008
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/05/2006
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares24/01/2006
KAPITAAL - AANDELEN - BOEKJAAR - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates18/11/2003
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20255,2 k €↑
2024
Annual accounts 20241,3 k €↓
2024
Name changeVARM
2023
Annual accounts 20235,8 k €↑
2023
Name changeVANMAERCKE
2021
Annual accounts 2021-2,9 k €↓
2020
Annual accounts 20201,2 k €↑
2019
Annual accounts 2019993,4 €↑
2018
Annual accounts 2018-3,2 k €↓
2017
Annual accounts 2017-3,1 k €↓
2016
Annual accounts 20161 k €↓
2015
Annual accounts 20151,3 k €↑
2014
Annual accounts 2014-6,7 k €↑
2013
Annual accounts 2013-18,1 k €↓
2012
Annual accounts 20128,6 k €↓
2011
Annual accounts 201111,8 k €↑
2010
Annual accounts 2010-24,7 k €↓
2009
Annual accounts 2009-8,1 k €↓
2008
Annual accounts 20084,5 k €↑
2007
Annual accounts 2007669,7 €
14/02/1985
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

VARM

Overview

What does VARM do?

Trend over 18 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline