ACTIVE

Varel

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Financial year 2025 · closed on 31/12/2025

Net result

349 k €

+3.9% YoY

Gross margin

1,3 M €

+2.1% YoY

Equity

158,8 k €

+0.0% YoY

Workforce

8,4 ETP

-5.6% YoY

What does Varel do?

Varel is a Private limited company incorporated in 1985. Its registered office is in Oud-Turnhout. It employs on average 8,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0427.554.026

Incorporation

28/06/1985

Legal form

Private limited company

Registered office

Bosdreef 43
2360 Oud-Turnhout · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

8,4 ETP

Joint committees (4)

149
14901
200
218

Signals

ProfitableLow riskPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	1,3 M €	+2.1%	1,3 M €	+0.6%	1,3 M €	+10.4%	1,2 M €	+1.2%	1,2 M €	-2.0%	1,2 M €	+7.2%	1,1 M €	+8.4%	1 M €	-0.2%	1 M €	+11.8%	906,8 k €	+11.3%	814,7 k €	+7.8%	755,4 k €	+3.8%	727,4 k €	-2.3%	744,7 k €	-3.4%	770,9 k €	+23.7%	623,3 k €	+27.9%	487,4 k €	+2.9%	473,5 k €
EBITDA	506,9 k €	+0.5%	504,6 k €	-2.5%	517,6 k €	+10.1%	470,3 k €	+4.7%	449,3 k €	-15.0%	528,8 k €	-7.6%	572,2 k €	+12.5%	508,6 k €	-4.2%	531 k €	+22.2%	434,6 k €	+35.3%	321,1 k €	+12.9%	284,4 k €	-14.0%	330,7 k €	-7.3%	356,7 k €	-7.8%	386,7 k €	+57.2%	245,9 k €	+54.0%	159,7 k €	-4.8%	167,8 k €
Operating result	481,6 k €	+3.4%	465,8 k €	-0.2%	466,8 k €	+24.3%	375,5 k €	-0.1%	376 k €	-17.8%	457,6 k €	-12.0%	519,8 k €	+8.1%	481 k €	-4.9%	505,6 k €	+23.6%	408,9 k €	+56.5%	261,3 k €	+16.8%	223,8 k €	-15.8%	265,9 k €	-11.9%	301,9 k €	-7.8%	327,6 k €	+46.2%	224,2 k €	+79.7%	124,7 k €	-2.2%	127,6 k €
Net result	349 k €	+3.9%	335,8 k €	-1.3%	340,2 k €	+23.3%	275,8 k €	+1.2%	272,4 k €	-19.9%	339,9 k €	-0.2%	340,4 k €	+9.8%	310 k €	-5.7%	328,7 k €	+22.4%	268,7 k €	+54.3%	174,1 k €	+13.0%	154,1 k €	-12.2%	175,6 k €	-10.4%	196 k €	-11.7%	222 k €	+39.9%	158,7 k €	+77.1%	89,6 k €	-2.1%	91,5 k €
Balance sheet
Equity	158,8 k €	+0.0%	158,8 k €	+11.1%	142,9 k €	+0.2%	142,7 k €	-70.5%	484,1 k €	+124%	216,3 k €	-21.7%	276,3 k €	-32.8%	410,8 k €	+63.8%	250,8 k €	-2.4%	257,1 k €	-24.0%	338,4 k €	-37.3%	539,3 k €	+5.7%	510,2 k €	+17.4%	434,6 k €	+28.4%	338,6 k €	-18.7%	416,6 k €	+61.5%	257,9 k €	-15.0%	303,3 k €
Total assets	889,7 k €	+8.9%	816,8 k €	+6.0%	770,4 k €	-3.3%	797 k €	-21.4%	1 M €	+12.1%	904,3 k €	+7.3%	842,9 k €	-5.8%	895,2 k €	+11.3%	804 k €	-4.2%	839,3 k €	-6.6%	898,6 k €	+30.6%	688 k €	-9.6%	760,7 k €	+1.5%	749,7 k €	-15.7%	889,3 k €	+35.3%	657,1 k €	+11.5%	589,2 k €	-14.6%	690,1 k €
Cash	638,6 k €	+59.8%	399,8 k €	+11.4%	358,7 k €	+66.9%	214,9 k €	-55.7%	485,2 k €	+86.7%	259,9 k €	-33.8%	392,6 k €	-19.8%	489,3 k €	+11.0%	440,6 k €	-11.3%	496,9 k €	+17.8%	421,8 k €	+86.8%	225,8 k €	-2.0%	230,5 k €	-17.8%	280,5 k €	+89.0%	148,4 k €	-55.4%	332,8 k €	+92.7%	172,8 k €	-11.8%	195,9 k €
Debts	724,9 k €	+10.9%	653,8 k €	+4.6%	625 k €	-3.7%	649,1 k €	+24.4%	521,7 k €	-24.2%	688 k €	+21.4%	566,6 k €	+17.0%	484,4 k €	-12.4%	553,2 k €	-5.0%	582,2 k €	+4.3%	558,2 k €	+276%	148,5 k €	-40.7%	250,5 k €	-19.8%	312,2 k €	-42.9%	547,2 k €	+127%	240,6 k €	-27.4%	331,3 k €	-14.3%	386,8 k €
Other
Workforce	8,4 ETP	-5.6%	8,9 ETP	+3.5%	8,6 ETP	+2.4%	8,4 ETP	-6.7%	9,0 ETP	+5.9%	8,5 ETP	+4.9%	8,1 ETP	-2.4%	8,3 ETP	0.0%	8,3 ETP	+3.8%	8,0 ETP	+6.7%	7,5 ETP	-6.3%	8,0 ETP	+14.3%	7,0 ETP	0.0%	7,0 ETP	0.0%	7,0 ETP	-5.4%	7,4 ETP	+34.5%	5,5 ETP	+10.0%	5,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 17 ended

Active mandates

Nathalie Leijser

Director · since 01 avril 2023

Active

Seefti

Director · 0799.961.275

Represented by Gijsbertus Leijser

Active

Ended mandates

Seefti

Director · since 01 avril 2023 · 0799.961.275

Represented by Gijsbertus Leijser

Ended

BLICON SECURITY

Director · since 04 juin 2012 · until 04 juin 2018 · 0439.921.427

Represented by Gijsbertus Leijser

Ended

Gijsbertus Leijser

Managing director · since 04 juin 2012 · until 04 juin 2018

Ended

Hubertus de Leeuw

Director · since 04 juin 2012 · until 04 juin 2018

Ended

At this address

Other companies at this address

Company	CBE no.
BLICON SECURITY● Active	0439.921.427
Seefti● Active	0799.961.275

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	04/05/2026	09/07/2025	04/06/2024	26/04/2023	27/04/2022	24/06/2021
General meeting	27/04/2026	23/06/2025	06/05/2024	28/03/2023	28/03/2022	07/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	27/04/2026	04/05/2026	Dutch	PDF
Abridged model	31/12/2024	23/06/2025	09/07/2025	Dutch	PDF
Abridged model	31/12/2023	06/05/2024	04/06/2024	Dutch	PDF
Abridged model	31/12/2022	28/03/2023	26/04/2023	Dutch	PDF
Abridged model	31/12/2021	28/03/2022	27/04/2022	Dutch	PDF
Abridged model	31/12/2020	07/06/2021	24/06/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	26/06/2020	Dutch	PDF
Abridged model	31/12/2018	03/06/2019	06/06/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	27/07/2018	Dutch	PDF
Abridged model	31/12/2016	16/06/2017	13/07/2017	Dutch	PDF
Abridged model	31/12/2015	06/06/2016	04/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/04/2015	28/05/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	03/07/2013	Dutch	PDF
Abridged model	31/12/2011	26/06/2012	04/07/2012	Dutch	PDF
Abridged model	31/12/2010	06/06/2011	06/07/2011	Dutch	PDF
Abridged model	31/12/2009	07/06/2010	24/08/2010	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	10/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/04/2008	27/05/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	26/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

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 31/12/2025 · 2 active · 17 ended

Active mandates

Nathalie Leijser

Director · since 01 avril 2023

Active

Seefti

Director · 0799.961.275

Represented by Gijsbertus Leijser

Active

Ended mandates

Seefti

Director · since 01 avril 2023 · 0799.961.275

Represented by Gijsbertus Leijser

Ended

BLICON SECURITY

Director · since 04 juin 2012 · until 04 juin 2018 · 0439.921.427

Represented by Gijsbertus Leijser

Ended

Gijsbertus Leijser

Managing director · since 04 juin 2012 · until 04 juin 2018

Ended

Hubertus de Leeuw

Director · since 04 juin 2012 · until 04 juin 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other11/05/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates11/05/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/04/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office28/01/2021
MAATSCHAPPELIJKE ZETEL
PDF
Mandates31/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/01/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/08/2012
ONTSLAGEN - BENOEMINGEN
PDF
Registered office25/02/2008
MAATSCHAPPELIJKE ZETEL
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 2025349 k €↑
2024
Annual accounts 2024335,8 k €↓
2023
Annual accounts 2023340,2 k €↑
2022
Annual accounts 2022275,8 k €↑
2021
Annual accounts 2021272,4 k €↓
2018
Annual accounts 2018339,9 k €↓
2017
Annual accounts 2017340,4 k €↑
2016
Annual accounts 2016310 k €↓
2015
Annual accounts 2015328,7 k €↑
2014
Annual accounts 2014268,7 k €↑
2013
Annual accounts 2013174,1 k €↑
2012
Annual accounts 2012154,1 k €↓
2011
Annual accounts 2011175,6 k €↓
2010
Annual accounts 2010196 k €↓
2009
Annual accounts 2009222 k €↑
2008
Annual accounts 2008158,7 k €↑
2007
Annual accounts 200789,6 k €↓
2006
Annual accounts 200691,5 k €
28/06/1985
IncorporationPrivate 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

Varel

Overview

What does Varel do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

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