ACTIVE

VARECO

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Financial year 2025 · closed on 31/12/2025

Net result

112,1 k €

+40.9% YoY

Gross margin

164,5 k €

+38.1% YoY

Equity

626,3 k €

+9.2% YoY

What does VARECO do?

VARECO is a Private limited company incorporated in 1997. Its main activity is: Plumbing, heat and air-conditioning installation. Its registered office is in Lille.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0460.947.166

Incorporation

27/06/1997

Legal form

Private limited company

Registered office

Biezenhoek 23
2275 Lille · FlandreSee on map

Contributed capital

18 592,01 €

Latest accounts

31/12/2025

Activities (NACE)

43221Plumbing, heat and air-conditioning installation· main 43221Plumbing, heat and air-conditioning installation 45332Sale of motor vehicle parts and accessories 43410Specialised construction activities 43910Roofing activities 45220Maintenance and repair of motor vehicles

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	164,5 k €	+38.1%	119,1 k €	-17.8%	145 k €	+6.8%	135,8 k €	+34.9%	100,7 k €	+176%	36,4 k €	-71.6%	128,5 k €	+43.0%	89,9 k €	-3.8%	93,5 k €	-41.4%	159,4 k €	-7.3%	172 k €	+16.6%	147,5 k €	+24.7%	118,3 k €	+3.8%	114 k €	+70.8%	66,7 k €	+18.9%	56,1 k €	-28.4%	78,4 k €	+23.5%	63,4 k €	-43.6%	112,5 k €
EBITDA	161,3 k €	+38.8%	116,2 k €	-17.8%	141,4 k €	+7.4%	131,7 k €	+34.3%	98,1 k €	+199%	32,8 k €	-73.6%	124 k €	+48.8%	83,4 k €	-5.2%	87,9 k €	-42.3%	152,4 k €	-7.7%	165,1 k €	+14.9%	143,7 k €	+25.8%	114,2 k €	+4.2%	109,6 k €	+74.2%	63 k €	+32.2%	47,6 k €	-35.2%	73,5 k €	+22.0%	60,2 k €	-22.2%	77,4 k €
Operating result	159,3 k €	+39.7%	114 k €	-15.9%	135,6 k €	+11.5%	121,5 k €	+39.9%	86,9 k €	+270%	23,5 k €	-75.7%	96,7 k €	+63.2%	59,2 k €	-11.1%	66,6 k €	-49.1%	130,9 k €	-7.6%	141,6 k €	+2.0%	138,9 k €	+28.3%	108,2 k €	+11.6%	97 k €	+120%	44,2 k €	+62.3%	27,2 k €	-42.3%	47,2 k €	-2.3%	48,3 k €	-18.3%	59,1 k €
Net result	112,1 k €	+40.9%	79,5 k €	-16.7%	95,5 k €	+12.1%	85,2 k €	+68.2%	50,6 k €	+241%	14,9 k €	-74.9%	59,2 k €	+53.5%	38,6 k €	+5.9%	36,4 k €	-53.4%	78,1 k €	-7.1%	84,1 k €	-2.4%	86,2 k €	+26.3%	68,3 k €	-8.3%	74,5 k €	+141%	31 k €	+53.7%	20,1 k €	-23.7%	26,4 k €	-17.3%	31,9 k €	-33.2%	47,8 k €
Balance sheet
Equity	626,3 k €	+9.2%	573,5 k €	+7.7%	532,5 k €	+12.5%	473,5 k €	-23.1%	616 k €	+9.0%	565,4 k €	+2.7%	550,5 k €	-19.7%	685,9 k €	+6.0%	647,4 k €	+6.0%	610,9 k €	+14.7%	532,8 k €	+18.8%	448,7 k €	+189%	155,5 k €	-51.0%	317,2 k €	+30.7%	242,7 k €	+14.6%	211,8 k €	+10.5%	191,6 k €	+16.0%	165,2 k €	+24.1%	133,2 k €
Total assets	674,5 k €	+10.0%	613,3 k €	+4.5%	586,7 k €	+13.7%	516,2 k €	-21.7%	659,7 k €	+10.6%	596,3 k €	+0.8%	591,8 k €	-20.7%	746 k €	-0.1%	746,4 k €	+5.0%	711,2 k €	+7.2%	663,4 k €	+29.8%	511,2 k €	+21.8%	419,6 k €	+14.8%	365,4 k €	+28.6%	284,2 k €	+8.7%	261,4 k €	+5.0%	249 k €	+19.9%	207,8 k €	+8.8%	190,9 k €
Cash	610,9 k €	+18.6%	515,1 k €	+38.4%	372,3 k €	+12.6%	330,6 k €	-39.1%	543 k €	+27.9%	424,5 k €	+12.9%	375,8 k €	-29.8%	535,2 k €	-9.0%	588,2 k €	-2.5%	603,5 k €	+10.2%	547,8 k €	+18.7%	461,5 k €	+62.2%	284,6 k €	+43.1%	198,9 k €	+46.0%	136,2 k €	+34.3%	101,4 k €	+11.6%	90,8 k €	+367%	19,5 k €	+6664%	287,6 €
Debts	48,2 k €	+21.1%	39,8 k €	-26.6%	54,2 k €	+26.7%	42,8 k €	-1.9%	43,6 k €	+41.4%	30,9 k €	-25.1%	41,2 k €	-31.4%	60,1 k €	-39.3%	99,1 k €	-1.2%	100,3 k €	-23.2%	130,6 k €	+109%	62,5 k €	-76.3%	264,1 k €	+448%	48,2 k €	+16.2%	41,5 k €	-16.3%	49,6 k €	-13.6%	57,4 k €	+34.9%	42,5 k €	-26.4%	57,7 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 6 ended

Active mandates

AUGUSTINUS VAN HERCK

Director

Active

DIRK VAN HERCK

Director

Active

GUY VAN HERCK

Director

Active

Ended mandates

GUY VAN HERCK

Manager · since 13 août 2008

Ended

DIRK VAN HERCK

Manager · since 13 août 2005

Ended

AUGUST VAN HERCK

Manager

Ended

AUGUSTINUS VAN HERCK

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	01/07/2026	04/07/2025	20/08/2024	16/06/2023	16/08/2022	29/07/2021
General meeting	30/05/2026	31/05/2025	25/05/2024	27/05/2023	28/05/2022	29/05/2021
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

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	30/05/2026	01/07/2026	Dutch	PDF
Micro model	31/12/2024	31/05/2025	04/07/2025	Dutch	PDF
Micro model	31/12/2023	25/05/2024	20/08/2024	Dutch	PDF
Micro model	31/12/2022	27/05/2023	16/06/2023	Dutch	PDF
Micro model	31/12/2021	28/05/2022	16/08/2022	Dutch	PDF
Micro model	31/12/2020	29/05/2021	29/07/2021	Dutch	PDF
Micro model	31/12/2019	14/07/2020	13/08/2020	Dutch	PDF
Micro model	31/12/2018	25/05/2019	09/08/2019	Dutch	PDF
Micro model	31/12/2017	26/05/2018	31/08/2018	Dutch	PDF
Micro model	31/12/2016	27/05/2017	04/08/2017	Dutch	PDF
Abridged model	31/12/2015	28/05/2016	28/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/05/2015	31/07/2015	Dutch	PDF
Abridged model	31/12/2013	31/05/2014	31/07/2014	Dutch	PDF
Abridged model	31/12/2012	25/05/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	26/05/2012	27/08/2012	Dutch	PDF
Abridged model	31/12/2010	28/05/2011	30/08/2011	Dutch	PDF
Abridged model	31/12/2009	29/05/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	05/11/2009	30/11/2009	Dutch	PDF
Abridged model	31/12/2007	05/12/2008	06/04/2009	Dutch	PDF
Abridged model	31/12/2006	29/11/2007	13/12/2007	Dutch	PDF
Abridged model	31/12/2005	20/02/2007	13/12/2007	Dutch	PDF
Abridged model	31/12/2004	25/09/2005	30/03/2007	Dutch	PDF
Abridged model	31/12/2003	30/09/2004	30/03/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 3 active · 6 ended

Active mandates

AUGUSTINUS VAN HERCK

Director

Active

DIRK VAN HERCK

Director

Active

GUY VAN HERCK

Director

Active

Ended mandates

GUY VAN HERCK

Manager · since 13 août 2008

Ended

DIRK VAN HERCK

Manager · since 13 août 2005

Ended

AUGUST VAN HERCK

Manager

Ended

AUGUSTINUS VAN HERCK

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates06/12/2022
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares28/02/2019
KAPITAAL - AANDELEN
PDF
Mandates11/02/2014
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates14/11/2005
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 2025112,1 k €↑
2024
Annual accounts 202479,5 k €↓
2023
Annual accounts 202395,5 k €↑
2022
Annual accounts 202285,2 k €↑
2021
Annual accounts 202150,6 k €↑
2020
Annual accounts 202014,9 k €↓
2019
Annual accounts 201959,2 k €↑
2018
Annual accounts 201838,6 k €↑
2017
Annual accounts 201736,4 k €↓
2016
Annual accounts 201678,1 k €↓
2015
Annual accounts 201584,1 k €↓
2014
Annual accounts 201486,2 k €↑
2013
Annual accounts 201368,3 k €↓
2012
Annual accounts 201274,5 k €↑
2011
Annual accounts 201131 k €↑
2010
Annual accounts 201020,1 k €↓
2009
Annual accounts 200926,4 k €↓
2008
Annual accounts 200831,9 k €↓
2007
Annual accounts 200747,8 k €
27/06/1997
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

VARECO

Overview

What does VARECO do?

Trend over 19 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