ACTIVE

VARES

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Financial year 2025 · Closed on 31/12/2025

Net result2,5 M €-14,7 %over 1 year

Gross margin-50,6 k €+57,3 %over 1 year

Equity82,9 M €+2,7 %over 1 year

Workforce1,0 ETP0,0 %over 1 year

Identity

Source · BCE/KBO

VARES is a Public limited company incorporated in 2004. Its main activity is: Activities of holding companies. Its registered office is in Bruxelles. It employs on average 1,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0867.182.275
Incorporation: 10/09/2004
Legal form: Public limited company
Registered office: Rue d'Argent 7 box 9.01
1000 Bruxelles · BruxellesSee on map
Contributed capital: 47 875 000,00 €
Latest accounts: 31/12/2025
Average workforce: 1,0 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debts

Financials

Source · NBB, 21 filings

Trend over 18 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	-50,6 k €	+57.3%	-118,5 k €	+58.9%	-288,1 k €	-509%	70,5 k €	+151%	-137,6 k €
EBITDA	-212,6 k €	+27.3%	-292,3 k €	+20.9%	-369,7 k €	-647%	67,6 k €	+138%	-176,9 k €
Operating result	-566,1 k €	-5.5%	-536,4 k €	+11.9%	-609,1 k €	-350%	-135,3 k €	+61.2%	-349 k €
Net result	2,5 M €	-14.7%	2,9 M €	-3.5%	3 M €	-52.1%	6,3 M €	+127%	2,8 M €
Balance sheet
Equity	82,9 M €	+2.7%	80,7 M €	+3.1%	78,3 M €	+2.5%	76,4 M €	+4.6%	73,1 M €
Total assets	83,3 M €	+2.4%	81,3 M €	+2.0%	79,7 M €	+3.5%	77 M €	+5.3%	73,2 M €
Cash	501,7 k €	-91.2%	5,7 M €	-32.2%	8,4 M €	+409%	1,7 M €	-53.8%	3,6 M €
Debts	358,1 k €	-39.4%	590,7 k €	-56.4%	1,4 M €	+123%	606,8 k €	+535%	95,6 k €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	+100%	0,5 ETP		–		–

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Claire Juliard	Directorsince 08/05/2019
Clément Juliard	Directorsince 08/05/2019
Martine Reijnaers	Managing directorsince 12/05/2016Director2021 accountsended
Philippe Juliard	Directorsince 02/01/2013
Thibault Juliard	Directorsince 02/01/2014

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Marc De Wever	Director11/06/2022 → 2024 accounts
Martine Reynaers	Managing director12/05/2016 → 2018 accounts
Maria Buelens	Director12/05/2010 → 2012 accounts

Other companies at this address

Rue d'Argent 7 1000 Bruxelles

Company	CBE no.
Arnason Klein● Active	1021.100.984
Better than Hungry● Active	0880.084.859
Better Than Hungry 2000● Active	0752.526.592
The Noodle Bar● Active	0677.923.595
The Suksrikarn● Active	0848.943.703

Full financial information

Source · NBB

	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	01/06/2026	20/10/2025	24/06/2024	21/06/2023	12/08/2022	23/08/2021
General meeting	12/05/2026	06/10/2025	08/06/2024	10/06/2023	11/06/2022	25/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 21 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	12/05/2026	01/06/2026	Dutch	PDF
Abridged modelCorrection	31/12/2024	06/10/2025	20/10/2025	Dutch	PDF
Abridged model	31/12/2024	14/06/2025	23/06/2025	Dutch	PDF
Abridged model	31/12/2023	08/06/2024	24/06/2024	Dutch	PDF
Abridged model	31/12/2022	10/06/2023	21/06/2023	Dutch	PDF
Abridged model	31/12/2021	11/06/2022	12/08/2022	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	23/08/2021	Dutch	PDF
Abridged model	31/12/2019	19/06/2020	24/06/2020	Dutch	PDF
Abridged model	31/12/2018	08/05/2019	30/08/2019	Dutch	PDF
Abridged model	31/12/2017	09/05/2018	18/06/2018	Dutch	PDF
Abridged model	31/12/2016	10/05/2017	15/06/2017	Dutch	PDF
Abridged model	31/12/2015	11/05/2016	19/07/2016	Dutch	PDF
Abridged model	31/12/2014	13/05/2015	23/06/2015	Dutch	PDF
Abridged model	31/12/2013	14/05/2014	20/06/2014	Dutch	PDF
Abridged model	31/12/2012	08/05/2013	24/05/2013	Dutch	PDF
Abridged model	31/12/2011	09/05/2012	02/07/2012	Dutch	PDF
Abridged model	31/12/2010	11/05/2011	16/08/2011	Dutch	PDF
Abridged model	31/12/2009	12/05/2010	01/07/2010	Dutch	PDF
Abridged model	31/12/2008	13/05/2009	30/06/2009	Dutch	PDF
Abridged model	31/12/2007	14/05/2008	25/06/2008	Dutch	PDF
Abridged model	31/12/2006	09/05/2007	27/08/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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.

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Claire Juliard	Directorsince 08/05/2019
Clément Juliard	Directorsince 08/05/2019
Martine Reijnaers	Managing directorsince 12/05/2016Director2021 accountsended
Philippe Juliard	Directorsince 02/01/2013
Thibault Juliard	Directorsince 02/01/2014

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Marc De Wever	Director11/06/2022 → 2024 accounts
Martine Reynaers	Managing director12/05/2016 → 2018 accounts
Maria Buelens	Director12/05/2010 → 2012 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates18/09/2026
Herbenoeming bestuurders - Volmacht
PDF
Mandates22/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Other31/03/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates03/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/08/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/01/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates18/11/2016
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings18 filings

Mandates

Philippe Juliard

Thibault Juliard

Martine Reijnaers

Clément Juliard

Claire Juliard

Marc De Wever

Martine Reynaers

Maria Buelens

Martine Beulens

20042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

VARES

Zilverstraat 7 9.01, 1000 Brussels

Director

Managing director

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue d'Argent 7 bte 9.01, 1000 BrusselsCurrent		CBE
Zilverstraat 7 9.01, 1000 Brussels	accounts 2021 → 2025	Accounts 2025 · 2026-00129789

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
VARESCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00129789

Events

2025
Annual accounts 20252,5 M €↓
2024
Annual accounts 20242,9 M €↓
2023
Annual accounts 20233 M €↓
2022
Annual accounts 20226,3 M €↑
11/06/2022
reconductionMartine Reijnaers · bestuurder
11/06/2022
reconductionClaire Juliard · bestuurder
11/06/2022
reconductionClément Juliard · bestuurder
11/06/2022
reconductionPhilippe Juliard · bestuurder
11/06/2022
reconductionThibault Juliard · bestuurder
11/06/2022
reconductionMarc De Wever · bestuurder
2021
Annual accounts 20212,8 M €↑
2018
Annual accounts 20181,9 M €↓
2017
Annual accounts 20172,1 M €↑
2016
Annual accounts 20161,5 M €↑
2015
Annual accounts 2015-218,3 k €↓
2014
Annual accounts 20141,3 M €↓
2013
Annual accounts 20134,6 M €↑
2012
Annual accounts 20121,6 M €↑
2011
Annual accounts 20111,1 M €↓
2010
Annual accounts 20101,2 M €↑
2009
Annual accounts 2009859,5 k €↓
2008
Annual accounts 20081,7 M €↑
2007
Annual accounts 2007-31,6 k €↓
2006
Annual accounts 2006-18,3 k €
10/09/2004
IncorporationPublic limited company

VARES

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events