Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 107.2 to 82.2.
Financials
Financial year 2025
VAREL SECURITY from Hasselt, company number BE0417906385, closed financial year 2025 with a result of € 1.3 million after tax. For that financial year VAREL SECURITY recorded revenue of € 20.1 million and equity of € 97,166. Compared with financial year 2024, the result moved from € 296,388 to € 1.3 million. Profitable, and profit is growing. The buffer shrank hard: equity is 80 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on April 30, 2026.
€ 97,166
▼ 80% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.3 million
▲ € 1 million vs 2024
Profit after tax over the fiscal year.
€ 615,563
▼ 5% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 1.3 million paid out
99 % of the profit went to the shareholders, mostly to Varel Security Group (100 % of the shares). That is where the money ends up.
People and assets in 2025
82.2
▼ 15.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.9 million
▼ 17% vs 2024
€ 71,200 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 164,943
▼ 50% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 8.2 million
▼ 23% vs 2024
€ 1.1 million is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 1.4 million
▲ 1% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 44 days on average.
€ 450,778
▼ 68% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | € 21,900,643 | € 20,351,737 | € 20,097,680 | ▼ 1% |
| Gross margin | € 7,533,026 | - | - | - | |
| Profit after taxes | € 1,560,886 | € 869,527 | € 296,388 | € 1,329,307 | ▲ € 1 million |
| Equity | € 518,540 | € 488,067 | € 484,455 | € 97,166 | ▼ 80% |
| Total debts | € 15,087,288 | € 15,086,896 | € 15,379,860 | € 13,020,892 | ▼ 15% |
| Cash | € 1,377,971 | € 1,391,857 | € 645,568 | € 615,563 | ▼ 5% |
| Land & buildings | - | € 552,083 | € 533,128 | € 509,932 | ▼ 4% |
| Retained profit | € 90,990 | € 60,517 | € 56,905 | € 25,805 | ▼ 55% |
| Dividend | € 1,550,000 | € 900,000 | € 300,000 | € 1,313,000 | ▲ € 1 million |
| Bank debt | € 8,029,031 | € 10,022,220 | € 10,572,977 | € 8,154,248 | ▼ 23% |
| Balance sheet total | € 15,605,828 | € 15,574,962 | € 15,864,315 | € 13,118,058 | ▼ 17% |
| Employees (FTE) | 74.5 | 107.2 | 97.3 | 82.2 | ▼ 15.1 |
Key figures of VAREL SECURITY, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to VAREL SECURITY?
What happened at VAREL SECURITY in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 1.3 million (▲ € 1 million vs 2024). Source: NBB ↗
- New establishment in Kontich. KBO
- New establishment in Deinze. KBO
- Varel Security Group BV became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Hasselt. KBO
In short
From € 1.6 million profit in 2022 to € 1.3 million profit in 2025.
Paid € 2.3 million in corporate taxes since 2022.
Best year ever: 2022, with € 1.6 million profit.
On average € 101,100 of value added per employee in 2022.
Management
The stake of Varel Security Group comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
VAREL SECURITYBehind VAREL SECURITY is Varel Security Group BV. The shares are held by Varel Security Group (100%).
Directors
According to the 2025 annual accounts
Director · represented by Ben Fortan
Also active at: VDE Security, DBS - BUYSE, BUYSE TECHNICS
since 2018
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Veldstraat 111
3511 Hasselt
Engelhoekstraat 1
9800 Deinze
Active since 1 October 2021
Koningin Astridlaan 29
2550 Kontich
Active since 1 December 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0417.906.385
- VAT number
- BE 0417.906.385
- Registered office
- Veldstraat 111, 3511 Hasselt
- Names & denominations
- VAREL SECURITY
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 13 December 1977
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Algemene elektrotechnische installatiewerken
Elektrische installatie
Overige detailhandel in nieuwe artikelen neg
Overige gespecialiseerde detailhandel in artikelen, andere dan voedingsmiddelen, n.e.g.