Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Shrinking team NBB
FTE fell two years in a row, from 12.6 to 10.6.
Financials
Financial year 2025
Varo Energy Belgium from Gent, company number BE0832275836, closed financial year 2025 with a result of € -731,314 after tax. For that financial year Varo Energy Belgium recorded revenue of € 1.5 billion and equity of € -8.5 million. Compared with financial year 2024, the result moved from € -676,694 to € -731,314. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 3, 2026.
€ -8.5 million
▼ € 731,314 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -731,314
▼ 8 % more loss than in 2024
Profit after tax over the fiscal year.
€ 0
▼ € 150 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -41.3 million.
People and assets in 2025
10.6
▼ 1.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.4 million
▼ 21% vs 2024
€ 318,500 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.
Debts at end 2025
€ 36.9 million
▲ 3% vs 2024
Loans from banks and other lenders, long and short.
€ 108.1 million
▲ 81% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 26 days on average.
€ 111.8 million
▲ 3% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 2,193,436,325 | € 1,467,504,912 | € 1,549,251,148 | € 1,539,695,420 | ▼ 1% |
| Profit after taxes | € -18,187,313 | € -16,748,278 | € -676,694 | € -731,314 | ▼ € 54,620 |
| Equity | € 9,653,046 | € -7,095,231 | € -7,771,925 | € -8,503,239 | ▼ € 731,314 |
| Total debts | € 337,741,302 | € 181,665,170 | € 208,905,607 | € 261,385,227 | ▲ 25% |
| Cash | € 444,526 | € 372,660 | € 150 | € 0 | ▼ € 150 |
| Retained profit | € -23,175,224 | € -39,923,501 | € -40,600,195 | € -41,331,509 | ▼ € 731,314 |
| Bank debt | € 0 | € 28,496,070 | € 36,005,070 | € 36,917,699 | ▲ 3% |
| Balance sheet total | € 347,394,348 | € 174,569,938 | € 201,133,682 | € 252,881,988 | ▲ 26% |
| Employees (FTE) | 12.3 | 12.6 | 11.9 | 10.6 | ▼ 1.3 |
Key figures of Varo Energy Belgium, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Varo Energy Belgium?
What happened at Varo Energy Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 731,314. filed late Source: NBB ↗
- Olivier VANBIERVLIET stepped down as director. NBB
- Cornelis Gregory (Sacha) Konan stepped down as director. NBB
- Reinier Hendrik (Rene) SMAAL stepped down as director. NBB
- Olivier VANBIERVLIET became a director. NBB
- Cornelis Gregory (Sacha) Konan became a director. NBB
- Reinier Hendrik (Rene) SMAAL became a director. NBB
- New establishment in Anderlecht. KBO
In short
From € 18.2 million loss in 2022 to € 731,314 loss in 2025.
Paid € 36 million in corporate taxes since 2022.
Pays suppliers within 26 days on average.
Management
The shares are held by VAROPreem BV (100%) and Varo Energy Netherlands BV (0%).
Directors
According to the 2025 annual accounts
Olivier VANBIERVLIET
Director
since 2021 · until 2026
since 2021 · until 2026
since 2021 · until 2026
Shareholders
VAROPreem BV
100%
Varo Energy Netherlands BV
0%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Wiedauwkaai 75
9000 Gent
Vaartdijk 3
1070 Anderlecht
Active since 1 October 2014
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0832.275.836
- VAT number
- BE 0832.275.836
- Registered office
- Wiedauwkaai 75, 9000 Gent
- Names & denominations
- Varo Energy Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 December 2010
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
Logistieke diensten
Groothandel in vaste, vloeibare en gasvormige brandstoffen en aanverwante producten
Overige vervoerondersteunende activiteiten