ACTIVE

FLYING SERVICE

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Financial year 2025 · closed on 31/12/2025

Net result

251,2 k €

-23.5% YoY

Revenue

93 M €

+11.6% YoY

Equity

3,3 M €

+8.3% YoY

Workforce

75,0 ETP

-2.1% YoY

What does FLYING SERVICE do?

FLYING SERVICE is a Public limited company incorporated in 1983. Its main activity is: Passenger air transport. Its registered office is in Antwerpen. It employs on average 75,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0424.612.055

Incorporation

14/09/1983

Legal form

Public limited company

Registered office

Luchthavenlei 1 box 18
2100 Antwerpen · FlandreSee on map

Contributed capital

856 000,00 €

Latest accounts

31/12/2025

Average workforce

75,0 ETP

Activities (NACE)

51100Passenger air transport· main 51100Passenger air transport 62100Computer programming, consultancy and related activities 62200Computer programming, consultancy and related activities

Joint committees (1)

31502

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	93 M €	+11.6%	83,3 M €	+1.1%	82,4 M €	+8.7%	75,9 M €	+20.8%	62,8 M €	+30.5%	48,1 M €	+2.8%	46,8 M €	-3.6%	48,5 M €	+13.0%	42,9 M €	+2.4%	41,9 M €	-7.4%	45,3 M €	+35.7%	33,4 M €	-19.1%	41,2 M €	+32.0%	31,2 M €	+19.3%	26,2 M €	+17.9%	22,2 M €	-18.1%	27,1 M €	+19.8%	22,6 M €	+9.6%	20,7 M €
EBITDA	701,8 k €	+46.3%	479,9 k €	+7.3%	447,2 k €	-22.2%	574,7 k €	+0.4%	572,3 k €	+1105%	47,5 k €	+109%	-500 k €	+71.6%	-1,8 M €	-269%	1 M €	+23.6%	842,7 k €	-53.7%	1,8 M €	-11.0%	2 M €	+62.6%	1,3 M €	+69.7%	740,7 k €	-36.1%	1,2 M €	+1267%	84,8 k €	-92.7%	1,2 M €	+190%	401,8 k €	-3.0%	414,3 k €
Operating result	-155,5 k €	-73.8%	-89,5 k €	+62.9%	-240,9 k €	+19.5%	-299,2 k €	-383%	-62 k €	+95.5%	-1,4 M €	-610%	-195,7 k €	-107%	-94,7 k €	-194%	100,8 k €	+918%	9,9 k €	-86.8%	75,2 k €	+151%	-146,6 k €	-124%	601,5 k €	+496%	-152 k €	-123%	655,2 k €	+201%	-650 k €	-180%	812,2 k €	+324%	191,7 k €	-17.1%	231,3 k €
Net result	251,2 k €	-23.5%	328,5 k €	+69.5%	193,8 k €	-11.6%	219,3 k €	+5.2%	208,3 k €	+119%	-1,1 M €	-5006%	22,8 k €	-29.7%	32,4 k €	-44.7%	58,5 k €	+738%	7 k €	-87.9%	57,9 k €	+158%	-99 k €	+42.3%	-171,7 k €	-139%	439,1 k €	-1.2%	444,5 k €	+166%	-675,1 k €	-217%	575,3 k €	+352%	127,2 k €	-29.3%	179,9 k €
Balance sheet
Equity	3,3 M €	+8.3%	3 M €	+12.1%	2,7 M €	+7.7%	2,5 M €	+9.5%	2,3 M €	+9.9%	2,1 M €	-34.0%	3,1 M €	+0.7%	3,1 M €	+1.0%	3,1 M €	+1.9%	3 M €	+0.2%	3 M €	+2.0%	3 M €	-3.3%	3,1 M €	-5.3%	3,2 M €	+15.7%	2,8 M €	+18.9%	2,3 M €	-22.4%	3 M €	+23.4%	2,4 M €	+5.4%	2,3 M €
Total assets	35,4 M €	+9.1%	32,4 M €	-1.5%	32,9 M €	+25.5%	26,2 M €	-2.5%	26,9 M €	+30.8%	20,6 M €	+14.2%	18 M €	-15.9%	21,4 M €	-19.6%	26,6 M €	+19.6%	22,3 M €	-0.9%	22,4 M €	+24.6%	18 M €	-12.5%	20,6 M €	-24.4%	27,2 M €	+61.9%	16,8 M €	+39.9%	12 M €	-1.5%	12,2 M €	-0.7%	12,3 M €	+29.6%	9,5 M €
Cash	30,5 k €	-24.0%	40,1 k €	-46.3%	74,7 k €	+50.4%	49,6 k €	-72.9%	183 k €	-32.8%	272,6 k €	+263%	75 k €	-90.6%	800 k €	+17.9%	678,6 k €	+301%	169,2 k €	-29.0%	238,3 k €	-91.3%	2,7 M €	+425%	523,2 k €	+19.4%	438,1 k €	-60.2%	1,1 M €	+2725%	39 k €	-92.7%	536,2 k €	-2.4%	549,1 k €	-30.9%	794,5 k €
Debts	29,5 M €	+7.3%	27,5 M €	-0.5%	27,7 M €	+31.9%	21 M €	-9.0%	23,1 M €	+32.9%	17,3 M €	+24.4%	13,9 M €	-20.8%	17,6 M €	-14.6%	20,6 M €	+13.4%	18,2 M €	-0.0%	18,2 M €	+30.9%	13,9 M €	-18.7%	17,1 M €	-28.5%	23,9 M €	+71.2%	14 M €	+44.4%	9,7 M €	+5.4%	9,2 M €	-6.7%	9,8 M €	+37.7%	7,2 M €
Other
Workforce	75,0 ETP	-2.1%	76,6 ETP	+8.0%	70,9 ETP	-2.6%	72,8 ETP	-4.7%	76,4 ETP	+9.6%	69,7 ETP	+3.7%	67,2 ETP	+0.3%	67,0 ETP	-10.4%	74,8 ETP	-5.4%	79,1 ETP	+2.3%	77,3 ETP	-3.4%	80,0 ETP	+0.3%	79,8 ETP	+2.3%	78,0 ETP	+8.6%	71,8 ETP	+1.6%	70,7 ETP	-1.5%	71,8 ETP	+55.7%	46,1 ETP	+71.4%	26,9 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 · 4 active · 31 ended

Active mandates

FLYING GROUP HOLDING

Managing director · since 18 juin 2021 · until 18 juin 2027 · 0875.470.035

Represented by Bernard Van Milders

Active

Gérard Matheis

Director · since 18 juin 2021 · until 18 juin 2027

Active

Van Eysendeyk Rudy

Director · since 18 juin 2021 · until 20 juin 2025

Active

VAN LOKEREN

Director · since 18 juin 2021 · until 18 juin 2027 · 0464.164.695

Represented by Johan Van Lokeren

Active

Ended mandates

Van Eysendeyk Rudy

Director · since 18 juin 2021 · until 18 juin 2027

Ended

FLYING GROUP HOLDING

Managing director · since 26 mai 2015 · until 25 mai 2021 · 0875.470.035

Represented by Bernard Van Milders

Ended

FLYING GROUP HOLDING

Managing director · since 26 mai 2015 · until 18 juin 2021 · 0875.470.035

Represented by Bernard Van Milders

Ended

Gérard Matheis

Director · since 26 mai 2015 · until 25 mai 2021

Ended

At this address

Other companies at this address

Company	CBE no.
AIRLINE CARS BELGIUM● Active	0459.174.442
AIRPORT TAXI● Bankrupt	0464.316.432
ANTWERP AVIATION CONSULTING● Active	0887.351.149
ANTWERP SKYPARK● Active	0828.949.825
BELAIR DEURNE● Bankrupt	0808.061.171
Ben - Air Flight Academy● Bankrupt	0420.916.553
FINSERVE RENT● Active	0871.900.633
FLYING PARTNERS● Active	0445.393.811
IMAGINE FLYING EUROPE● Active	1005.323.836
Important People Driving● Active	1001.676.933
Jetrent● Active	0889.958.172
JEUGD EN LUCHTVAART● Active	0417.755.838
MUNERIS SERVICES● Active	0739.623.713
RAD LAB● Active	0792.371.521
RAYMOND'S AIRCRAFT RESTORATION● Active	0880.587.378
RENDIR● Bankrupt	0838.870.450
R&M HOLDING● Active	0685.445.847
Royal Antwerp Aviation Club● Active	0406.639.044
SKYWINGS FLIGHT TRAINING● Active	0673.567.307
STAMPE FOREVER● Active	1031.519.180

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	30/06/2025	03/07/2024	21/06/2023	05/07/2022	01/07/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/06/2026	01/07/2026	Dutch	PDF
Full model	31/12/2024	20/06/2025	30/06/2025	Dutch	PDF
Full model	31/12/2023	21/06/2024	03/07/2024	Dutch	PDF
Full model	31/12/2022	16/06/2023	21/06/2023	Dutch	PDF
Full model	31/12/2021	17/06/2022	05/07/2022	Dutch	PDF
Full model	31/12/2020	18/06/2021	01/07/2021	Dutch	PDF
Full model	31/12/2019	19/06/2020	23/06/2020	Dutch	PDF
Full model	31/12/2018	21/06/2019	03/07/2019	Dutch	PDF
Full model	31/12/2017	15/06/2018	03/07/2018	Dutch	PDF
Full model	31/12/2016	23/05/2017	08/06/2017	Dutch	PDF
Full model	31/12/2015	24/05/2016	15/06/2016	Dutch	PDF
Full model	31/12/2014	26/05/2015	08/06/2015	Dutch	PDF
Full model	31/12/2013	27/05/2014	03/06/2014	Dutch	PDF
Full model	31/12/2012	28/05/2013	28/06/2013	Dutch	PDF
Full model	31/12/2011	29/06/2012	11/09/2012	Dutch	PDF
Full model	31/12/2010	30/06/2011	29/07/2011	Dutch	PDF
Full model	31/12/2009	23/06/2010	28/07/2010	Dutch	PDF
Full model	31/12/2008	26/05/2009	08/07/2009	Dutch	PDF
Full model	31/12/2007	27/05/2008	24/07/2008	Dutch	PDF
Full model	31/12/2006	06/06/2007	27/06/2007	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 · 4 active · 31 ended

Active mandates

FLYING GROUP HOLDING

Managing director · since 18 juin 2021 · until 18 juin 2027 · 0875.470.035

Represented by Bernard Van Milders

Active

Gérard Matheis

Director · since 18 juin 2021 · until 18 juin 2027

Active

Van Eysendeyk Rudy

Director · since 18 juin 2021 · until 20 juin 2025

Active

VAN LOKEREN

Director · since 18 juin 2021 · until 18 juin 2027 · 0464.164.695

Represented by Johan Van Lokeren

Active

Ended mandates

Van Eysendeyk Rudy

Director · since 18 juin 2021 · until 18 juin 2027

Ended

FLYING GROUP HOLDING

Managing director · since 26 mai 2015 · until 25 mai 2021 · 0875.470.035

Represented by Bernard Van Milders

Ended

FLYING GROUP HOLDING

Managing director · since 26 mai 2015 · until 18 juin 2021 · 0875.470.035

Represented by Bernard Van Milders

Ended

Gérard Matheis

Director · since 26 mai 2015 · until 25 mai 2021

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other12/07/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates28/07/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/08/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/11/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/08/2019
ONTSLAGEN - BENOEMINGEN
PDF
Other19/09/2017
DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates15/03/2017
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 2025251,2 k €↓
2024
Annual accounts 2024328,5 k €↑
2023
Annual accounts 2023193,8 k €↓
2022
Annual accounts 2022219,3 k €↑
2021
Annual accounts 2021208,3 k €↑
2020
Annual accounts 2020-1,1 M €↓
2019
Annual accounts 201922,8 k €↓
2018
Annual accounts 201832,4 k €↓
2017
Annual accounts 201758,5 k €↑
2016
Annual accounts 20167 k €↓
2015
Annual accounts 201557,9 k €↑
2013
Annual accounts 2013-99 k €↑
2012
Annual accounts 2012-171,7 k €↓
2011
Annual accounts 2011439,1 k €↓
2010
Annual accounts 2010444,5 k €↑
2009
Annual accounts 2009-675,1 k €↓
2008
Annual accounts 2008575,3 k €↑
2007
Annual accounts 2007127,2 k €↓
2006
Annual accounts 2006179,9 k €
14/09/1983
IncorporationPublic 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

FLYING SERVICE

Overview

What does FLYING SERVICE do?

Trend over 19 financial years

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