OPENING OF BANKRUPTCY

VLM AIRLINES

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Company — Opening of bankruptcy.

Financial year 2012 · Closed on 31/12/2012

Net result363,6 k €-12,4 %over 1 year

Revenue38,2 M €+21,9 %over 1 year

Equity6,8 M €+8,8 %over 1 year

Workforce147,7 ETP-7,9 %over 1 year

Identity

Source · BCE/KBO

VLM AIRLINES is a Public limited company incorporated in 1992. Its main activity is: Passenger air transport. Its registered office is in Antwerpen. It employs on average 147,7 ETP workers (FTE).

Legal situation: Opening of bankruptcy
BCE/KBO no. / VAT: BE 0446.670.251
Incorporation: 21/02/1992
Legal form: Public limited company
Registered office: Luchthavenlei 1 box 50
2100 Antwerpen · FlandreSee on map
Latest accounts: 31/12/2012
Average workforce: 147,7 ETP

Activities (NACE)

51100Passenger air transport· main 51100Passenger air transport 62100Computer programming, consultancy and related activities 52230Service activities incidental to air transportation 52230Service activities incidental to air transportation 63230Information service activities

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 18 filings

Trend over 7 financial years

	2012		2011		2011		2010		2009
Income statement
Revenue	38,2 M €	+21.9%	31,3 M €	-19.2%	38,7 M €	+16.1%	33,4 M €	-46.6%	62,5 M €
EBITDA	2,8 M €	+14.5%	2,5 M €	+135%	1,1 M €	+111%	501,1 k €	+119%	-2,7 M €
Operating result	506,8 k €	-28.4%	708,1 k €	+144%	-1,6 M €	+63.4%	-4,4 M €	+42.6%	-7,7 M €
Net result	363,6 k €	-12.4%	415,1 k €	+131%	-1,4 M €	+65.8%	-4 M €	+67.7%	-12,3 M €
Balance sheet
Equity	6,8 M €	+8.8%	6,2 M €	+168%	-9,2 M €	-17.3%	-7,8 M €	-102%	-3,9 M €
Total assets	13,4 M €	-35.5%	20,8 M €	-5.1%	21,9 M €	-24.5%	29 M €	+19.7%	24,3 M €
Cash	292,7 k €	-73.1%	1,1 M €	-48.9%	2,1 M €	-28.3%	3 M €	+1967%	143,6 k €
Debts	5 M €	-50.8%	10,2 M €	-58.6%	24,7 M €	-23.0%	32,1 M €	+44.2%	22,2 M €
Other
Workforce	147,7 ETP	-7.9%	160,3 ETP	-1.2%	162,3 ETP	-7.0%	174,6 ETP	+0.9%	173,0 ETP

Board of directors

Source · NBB, accounts to 31/12/2012

4 active · 17 ended

Active mandates

Arthur White

Managing director · since 15 juillet 2012 · until 15 juillet 2013

Active

Michael Collins

Director · since 10 mars 2011 · until 10 mars 2014

Active

Peter Bulckaert

Managing director · since 10 mars 2011 · until 15 juillet 2012

Active

Christine Ourmières

Director · since 08 novembre 2010 · until 08 novembre 2013

Active

Ended mandates

Peter Bulckaert

Managing director · since 10 mars 2011 · until 12 février 2012

Ended

Jean-Claude Ronsiaux

Director · since 08 juillet 2010 · until 10 mars 2011

Ended

Jean-Claude Ronsiaux

Director · since 08 juillet 2010 · until 08 juillet 2013

Ended

Johan Vanneste

Managing director · since 20 février 2009 · until 10 mars 2011

Ended

Other companies at this address

Luchthavenlei 1 2100 Antwerpen

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
FLYING SERVICE● Active	0424.612.055
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

Full financial information

Source · NBB

	2014	2013	2012	2011	2011	2010
Type of account	Full model	Consolidated accounts	Full model	Full model	Full model	Consolidated accounts
Start of the financial year	01/01/2014	01/01/2013	01/01/2012	01/04/2011	01/04/2010	01/04/2009
Closing of the financial year	31/12/2014	31/12/2013	31/12/2012	31/12/2011	31/03/2011	31/03/2010
Length of the financial year	12 months	12 months	12 months	9 months	12 months	12 months
Filing date	08/07/2015	24/06/2014	28/06/2013	10/07/2012	31/10/2011	24/09/2010
General meeting	26/06/2015	31/03/2014	21/05/2013	31/05/2012	20/09/2011	21/09/2010
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, 18 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2014	26/06/2015	08/07/2015	Dutch	PDF
Consolidated accounts	31/12/2014	26/06/2015	30/06/2015	Dutch	PDF
Full model	31/12/2013	31/03/2014	23/06/2014	Dutch	PDF
Consolidated accounts	31/12/2013	31/03/2014	24/06/2014	Dutch	PDF
Full model	31/12/2012	21/05/2013	28/06/2013	Dutch	PDF
Consolidated accounts	31/12/2012	21/05/2013	28/06/2013	Dutch	PDF
Full model	31/12/2011	31/05/2012	10/07/2012	Dutch	PDF
Consolidated accounts	31/12/2011	31/05/2012	10/07/2012	Dutch	PDF
Full model	31/03/2011	20/09/2011	31/10/2011	Dutch	PDF
Consolidated accounts	31/03/2011	20/09/2011	31/10/2011	Dutch	PDF
Full model	31/03/2010	21/09/2010	21/09/2010	Dutch	PDF
Consolidated accounts	31/03/2010	21/09/2010	24/09/2010	Dutch	PDF
Full model	31/03/2009	16/09/2009	16/10/2009	Dutch	PDF
Consolidated accounts	31/03/2009	16/09/2009	16/10/2009	Dutch	PDF
Full model	31/12/2007	11/02/2008	08/04/2008	Dutch	PDF
Consolidated accounts	31/12/2007	01/01/9999	20/03/2008	Dutch	PDF
Full model	31/12/2006	15/05/2007	01/06/2007	Dutch	PDF
Consolidated accounts	31/12/2006	15/05/2007	04/06/2007	Dutch	PDF

Indicative valuation

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 31/12/2012

4 active · 17 ended

Active mandates

Arthur White

Managing director · since 15 juillet 2012 · until 15 juillet 2013

Active

Michael Collins

Director · since 10 mars 2011 · until 10 mars 2014

Active

Peter Bulckaert

Managing director · since 10 mars 2011 · until 15 juillet 2012

Active

Christine Ourmières

Director · since 08 novembre 2010 · until 08 novembre 2013

Active

Ended mandates

Peter Bulckaert

Managing director · since 10 mars 2011 · until 12 février 2012

Ended

Jean-Claude Ronsiaux

Director · since 08 juillet 2010 · until 10 mars 2011

Ended

Jean-Claude Ronsiaux

Director · since 08 juillet 2010 · until 08 juillet 2013

Ended

Johan Vanneste

Managing director · since 20 février 2009 · until 10 mars 2011

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates06/07/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/02/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/08/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/06/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/02/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/08/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/06/2014
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/06/2014
KAPITAAL - AANDELEN
PDF

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

See the Business plan

Timeline

2012
Annual accounts 2012363,6 k €↓
2011
Annual accounts 2011415,1 k €↑
2011
Annual accounts 2011-1,4 M €↑
2010
Annual accounts 2010-4 M €↑
2009
Annual accounts 2009-12,3 M €↓
2007
Annual accounts 20072,5 M €↑
2006
Annual accounts 2006880,5 k €
21/02/1992
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

VLM AIRLINES

Overview

Identity

Financials

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