ACTIVE

Skeyes

Financial year 2025 · Closed on 31/12/2025

Net result18,6 M €+17,5 %over 1 year
Revenue352,9 M €+5,3 %over 1 year
Equity327,5 M €+6,1 %over 1 year
Workforce966,3 ETP+1,6 %over 1 year

Identity

Source · BCE/KBO

Skeyes is a Public establishment incorporated in 1946. Its main activity is: Service activities incidental to air transportation. Its registered office is in Bruxelles. It employs on average 966,3 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0206.048.091
Incorporation
20/11/1946
Legal form
Public establishment
Registered office
Square de Meeûs 35
1000 Bruxelles · BruxellesSee on map
Contributed capital
170 000 000,00 €
Latest accounts
31/12/2025
Average workforce
966,3 ETP
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 76 filings

Trend over 10 financial years

20252024202320222021
Income statement
Revenue352,9 M €335,2 M €309,6 M €306,1 M €271,9 M €
EBITDA32,7 M €30,7 M €18,1 M €34,7 M €33,5 M €
Operating result20,5 M €12,4 M €6,8 M €19,3 M €20,9 M €
Net result18,6 M €15,8 M €9,1 M €18,8 M €20,4 M €
Balance sheet
Equity327,5 M €308,8 M €290,3 M €281,3 M €237,4 M €
Total assets546,7 M €537,8 M €559 M €535,5 M €495,4 M €
Cash1,9 M €6,6 M €34,2 M €54,5 M €14,7 M €
Debts154,7 M €170,7 M €196,7 M €196,9 M €200,8 M €
Other
Workforce966,3 ETP950,9 ETP934,2 ETP894,5 ETP889,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

10 active · 42 ended

Active mandates

Fons BORGINON

Director · since 22 avril 2022 · until 16 janvier 2028

Active
Jean LEBLON

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Johan DECUYPER

Managing director · since 17 janvier 2022 · until 16 janvier 2028

Active
Julie LUDMER

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Kurt VAN RAEMDONCK

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Laurent VRIJDAGHS

Chairman of the board of directors · since 17 janvier 2022 · until 16 janvier 2028

Active
Liesbeth VAN DER AUWERA

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Luc LAVEYNE

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Renaud LORAND

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Sandra STAINIER

Director · since 17 janvier 2022 · until 16 janvier 2028

Active

Ended mandates

Fons 2 BORGINON

Director · since 22 avril 2022 · until 16 janvier 2028

Ended
Elisabeth MATTHYS

Director · since 17 janvier 2022 · until 21 avril 2022

Ended
Renaud 2 LORAND

Director · since 17 janvier 2022 · until 16 janvier 2028

Ended
Philippe ROLAND

Commissaire, nommé par la Cour des Comptes · since 10 septembre 2021 · until 09 septembre 2027

Ended

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Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date01/06/202626/06/202524/06/202411/07/202311/07/202220/07/2021
General meeting26/05/202624/06/202531/05/202431/05/202304/07/202226/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 76 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202526/05/202601/06/2026DutchPDF
Full model31/12/202526/05/202601/06/2026FrenchPDF
Consolidated accounts31/12/202526/05/202601/06/2026DutchPDF
Consolidated accounts31/12/202526/05/202601/06/2026FrenchPDF
Full model31/12/202424/06/202526/06/2025DutchPDF
Full model31/12/202424/06/202526/06/2025FrenchPDF
Consolidated accounts31/12/202424/06/202526/06/2025DutchPDF
Consolidated accounts31/12/202424/06/202526/06/2025FrenchPDF
Full model31/12/202331/05/202424/06/2024FrenchPDF
Full model31/12/202331/05/202424/06/2024DutchPDF
Consolidated accounts31/12/202331/05/202424/06/2024FrenchPDF
Consolidated accounts31/12/202331/05/202424/06/2024DutchPDF
Full model31/12/202231/05/202311/07/2023FrenchPDF
Full model31/12/202231/05/202311/07/2023DutchPDF
Consolidated accounts31/12/202231/05/202317/07/2023FrenchPDF
Consolidated accounts31/12/202231/05/202317/07/2023DutchPDF
Full model31/12/202104/07/202211/07/2022FrenchPDF
Full model31/12/202104/07/202211/07/2022DutchPDF
Consolidated accounts31/12/202104/07/202225/07/2022DutchPDF
Consolidated accounts31/12/202104/07/202225/07/2022FrenchPDF
Full model31/12/202026/05/202120/07/2021DutchPDF
Full model31/12/202026/05/202120/07/2021FrenchPDF
Consolidated accounts31/12/202026/05/202120/07/2021FrenchPDF
Consolidated accounts31/12/202026/05/202120/07/2021DutchPDF
Full model31/12/201923/06/202016/07/2020FrenchPDF
Full model31/12/201923/06/202016/07/2020DutchPDF
Full model31/12/201818/07/201930/07/2019FrenchPDF
Full model31/12/201818/07/201930/07/2019DutchPDF
Full model31/12/201725/05/201819/07/2018FrenchPDF
Full model31/12/201725/05/201819/07/2018DutchPDF
Full model31/12/201611/05/201727/06/2017FrenchPDF
Full model31/12/201611/05/201727/06/2017DutchPDF
Full model31/12/201501/01/999929/07/2016FrenchPDF
Full model31/12/201501/01/999929/07/2016DutchPDF
Full model31/12/201401/01/999931/07/2015DutchPDF
Full model31/12/201401/01/999931/07/2015FrenchPDF
Full model31/12/201315/05/201420/06/2014DutchPDF
Full model31/12/201315/05/201416/06/2014FrenchPDF
Full model31/12/201201/01/999925/07/2013FrenchPDF
Full model31/12/201201/01/999924/07/2013DutchPDF
Full model31/12/201101/01/999903/08/2012FrenchPDF
Full model31/12/201101/01/999903/08/2012DutchPDF
Full model31/12/201030/06/201128/07/2011DutchPDF
Full model31/12/201030/06/201128/07/2011FrenchPDF
Full model31/12/200930/06/201028/07/2010FrenchPDF
Full model31/12/200930/06/201028/07/2010DutchPDF
Full model31/12/200827/07/200915/09/2009FrenchPDF
Full model31/12/200827/07/200915/09/2009DutchPDF
Full model31/12/200729/05/200810/06/2008DutchPDF
Full model31/12/200729/05/200810/06/2008FrenchPDF
Full model31/12/200629/05/200720/06/2007DutchPDF
Full model31/12/200629/05/200720/06/2007FrenchPDF
Full model31/12/200529/05/200621/06/2006FrenchPDF
Full model31/12/200529/05/200621/06/2006DutchPDF
Full model31/12/200408/07/200527/12/2005FrenchPDF
Full model31/12/200408/07/200527/12/2005DutchPDF
Full model31/12/200327/05/200419/04/2005DutchPDF
Full model31/12/200327/05/200419/04/2005FrenchPDF
Full model31/12/200229/01/200419/04/2005DutchPDF
Full model31/12/200229/01/200419/04/2005FrenchPDF
Full model31/12/200114/01/200306/01/2004DutchPDF
Full model31/12/200114/01/200306/01/2004FrenchPDF
Full model31/12/200019/02/200206/01/2004DutchPDF
Full model31/12/200019/02/200206/01/2004FrenchPDF
Full model31/12/199917/01/200105/01/2004DutchPDF
Full model31/12/199917/01/200105/01/2004FrenchPDF
Full model31/12/199820/12/200006/01/2004DutchPDF
Full model31/12/199820/12/200006/01/2004FrenchPDF
m930-p31/12/198706/05/198826/09/1988French—
m930-p31/12/198706/05/198826/09/1988Dutch—
m930-p31/12/198609/04/198704/06/1987French—
m930-p31/12/198609/04/198704/06/1987Dutch—
m930-p31/12/198529/07/198619/09/1986Dutch—
m930-p31/12/198529/07/198619/09/1986French—
m903-p31/12/198406/06/198523/08/1985Dutch—
m903-p31/12/198406/06/198523/08/1985French—

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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

10 active · 42 ended

Active mandates

Fons BORGINON

Director · since 22 avril 2022 · until 16 janvier 2028

Active
Jean LEBLON

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Johan DECUYPER

Managing director · since 17 janvier 2022 · until 16 janvier 2028

Active
Julie LUDMER

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Kurt VAN RAEMDONCK

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Laurent VRIJDAGHS

Chairman of the board of directors · since 17 janvier 2022 · until 16 janvier 2028

Active
Liesbeth VAN DER AUWERA

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Luc LAVEYNE

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Renaud LORAND

Director · since 17 janvier 2022 · until 16 janvier 2028

Active
Sandra STAINIER

Director · since 17 janvier 2022 · until 16 janvier 2028

Active

Ended mandates

Fons 2 BORGINON

Director · since 22 avril 2022 · until 16 janvier 2028

Ended
Elisabeth MATTHYS

Director · since 17 janvier 2022 · until 21 avril 2022

Ended
Renaud 2 LORAND

Director · since 17 janvier 2022 · until 16 janvier 2028

Ended
Philippe ROLAND

Commissaire, nommé par la Cour des Comptes · since 10 septembre 2021 · until 09 septembre 2027

Ended

Ownership and network

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Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 202518,6 M €↑
  2. 2024
    Annual accounts 202415,8 M €↑
  3. 2023
    Annual accounts 20239,1 M €↓
  4. 2022
    Annual accounts 202218,8 M €↓
  5. 2021
    Annual accounts 202120,4 M €↑
  6. 2020
    Annual accounts 2020-11,9 M €↓
  7. 2019
    Annual accounts 20191,5 M €↓
  8. 2018
    Annual accounts 201816,7 M €↓
  9. 2017
    Annual accounts 201722,5 M €↓
  10. 2016
    Annual accounts 201626,4 M €
  11. 20/11/1946
    IncorporationPublic establishment