ACTIVE

PROPELLER

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Financial year 2025 · closed on 31/12/2025

Net result

-44,7 k €

-420.6% YoY

Gross margin

50,1 k €

-39.9% YoY

Equity

193,6 k €

-18.7% YoY

What does PROPELLER do?

PROPELLER is a Private limited company incorporated in 1994. Its main activity is: Technical testing and analysis. Its registered office is in Wevelgem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0452.481.739

Incorporation

13/04/1994

Legal form

Private limited company

Registered office

Luchthavenstraat 1 box 4
8560 Wevelgem · FlandreSee on map

Contributed capital

400 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

71230Technical testing and analysis· main 77350Rental and leasing of air transport equipment 77350Rental and leasing of air transport equipment

Joint committees (1)

Signals

Solid equityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	50,1 k €	-39.9%	83,4 k €	-43.1%	146,6 k €	-42.4%	254,5 k €	+112%	120,2 k €	+32.2%	90,9 k €	-22.1%	116,7 k €	-0.5%	117,3 k €	+9.5%	107,1 k €	-45.6%	197,1 k €	+204%	64,7 k €	+1178%	5,1 k €	+108%	-62,3 k €	-20.1%	-51,9 k €	-203%	50,3 k €	-16.0%	59,9 k €	-60.7%	152,3 k €	+1109%	-15,1 k €	-227%	-4,6 k €	-103%	132,1 k €
EBITDA	35,6 k €	-49.0%	69,8 k €	-45.3%	127,7 k €	-44.3%	229,5 k €	+137%	97 k €	+47.2%	65,9 k €	-20.3%	82,7 k €	-19.3%	102,5 k €	+8.3%	94,6 k €	-48.5%	183,8 k €	+247%	52,9 k €	+539%	-12 k €	+84.8%	-79,2 k €	+1.6%	-80,5 k €	-8876%	-897,3 €	+93.3%	-13,4 k €	-114%	94,9 k €	+286%	-50,9 k €	+32.6%	-75,5 k €	-189%	84,4 k €
Operating result	-43 k €	-564%	-6,5 k €	-116%	40 k €	-72.2%	143,9 k €	+1773%	7,7 k €	+255%	-5 k €	-138%	12,9 k €	-56.6%	29,8 k €	-45.0%	54,1 k €	-61.6%	140,8 k €	+3251%	4,2 k €	+107%	-56,9 k €	+54.6%	-125,2 k €	+6.9%	-134,5 k €	-140%	-56 k €	+19.7%	-69,7 k €	-1232%	6,2 k €	+104%	-137,1 k €	+14.9%	-161 k €	-1984%	8,5 k €
Net result	-44,7 k €	-421%	-8,6 k €	-123%	36,6 k €	-73.7%	139 k €	+5053%	2,7 k €	+123%	-11,9 k €	-299%	6 k €	-77.4%	26,5 k €	-50.7%	53,7 k €	-62.4%	142,8 k €	+134%	60,9 k €	+598%	-12,2 k €	+82.1%	-68,4 k €	+10.3%	-76,2 k €	-326%	-17,9 k €	+56.3%	-40,9 k €	-13.9%	-35,9 k €	-112%	288,3 k €	+266%	-173,3 k €	-3515%	5,1 k €
Balance sheet
Equity	193,6 k €	-18.7%	238,3 k €	-3.5%	246,8 k €	+17.4%	210,3 k €	+195%	71,2 k €	+3.9%	68,5 k €	-14.8%	80,5 k €	+8.0%	74,5 k €	+55.2%	48 k €	+946%	-5,7 k €	+96.2%	-148,5 k €	+29.1%	-209,4 k €	-6.2%	-197,2 k €	-53.0%	-128,9 k €	-145%	-52,6 k €	-51.5%	-34,7 k €	-662%	6,2 k €	-85.3%	42,1 k €	+117%	-246,2 k €	-237%	-73 k €
Total assets	486,1 k €	-15.1%	572,4 k €	-27.1%	785,4 k €	-3.5%	813,9 k €	-5.5%	861,1 k €	+3.5%	832,3 k €	-8.1%	905,9 k €	+1.8%	890 k €	+87.9%	473,6 k €	-0.5%	476 k €	+12.4%	423,5 k €	-35.5%	656,1 k €	-4.2%	685,1 k €	-13.3%	790,2 k €	-6.2%	842,8 k €	+1.4%	831,5 k €	-17.2%	1 M €	+12.6%	892,4 k €	-35.2%	1,4 M €	+6.7%	1,3 M €
Cash	47,4 k €	+3.7%	45,7 k €	-64.3%	128,2 k €	+100%	64,1 k €	+14.2%	56,1 k €	+31.4%	42,7 k €	+679%	5,5 k €	-90.2%	56,2 k €	-43.6%	99,5 k €	+66.0%	59,9 k €	+1088%	5 k €	-70.7%	17,2 k €	-57.4%	40,4 k €	+1766%	2,2 k €	-2.9%	2,2 k €	-55.2%	5 k €	+349%	1,1 k €	-8.9%	1,2 k €	-93.0%	17,3 k €	+166%	6,5 k €
Debts	292,5 k €	-12.5%	334 k €	-37.7%	536,1 k €	-11.0%	602,2 k €	-23.7%	789,7 k €	+3.4%	763,7 k €	-7.4%	824,9 k €	+1.2%	814,9 k €	+91.7%	425 k €	-11.8%	481,7 k €	-15.8%	572 k €	-33.9%	865,5 k €	-1.9%	882,3 k €	-3.9%	918,5 k €	+3.2%	890,3 k €	+2.8%	865,7 k €	-13.1%	996,6 k €	+21.2%	822,1 k €	-49.1%	1,6 M €	+18.4%	1,4 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		1,0 ETP	-16.7%	1,2 ETP	-33.3%	1,8 ETP	+50.0%	1,2 ETP	+50.0%	0,8 ETP	-11.1%	0,9 ETP	0.0%	0,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 5 ended

Active mandates

Jan Borms

Director · since 29 mars 2019

Active

Ended mandates

Jan Piet Joris Borms

Director · since 14 novembre 2023

Ended

Jan Borms

Director · since 02 mai 1997

Ended

Jan Borms

Manager · since 02 mai 1997

Ended

Jan Borms

Director · since 13 avril 1994

Ended

At this address

Other companies at this address

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Airport Community EBKT● Active	0653.980.730
Beherman-Demoen Engeneering Company● Active	0406.871.250
BSL-19● Active	0721.817.085
Flanders Aviation Sociéty● Active	0443.019.289
FLANDERS INTERNATIONAL AIRPORT● Active	0445.861.884
INTERNATIONALE LUCHTHAVEN KORTRIJK-WEVELGEM● Active	0633.606.374
Kortrijk Flying Club● Active	0410.017.317

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	14/07/2026	03/07/2025	15/07/2024	03/07/2023	13/07/2022	28/07/2021
General meeting	30/06/2026	27/06/2025	28/06/2024	20/06/2023	30/06/2022	30/06/2021
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
Micro model	31/12/2025	30/06/2026	14/07/2026	Dutch	PDF
Micro model	31/12/2024	27/06/2025	03/07/2025	Dutch	PDF
Micro model	31/12/2023	28/06/2024	15/07/2024	Dutch	PDF
Micro model	31/12/2022	20/06/2023	03/07/2023	Dutch	PDF
Micro model	31/12/2021	30/06/2022	13/07/2022	Dutch	PDF
Micro model	31/12/2020	30/06/2021	28/07/2021	Dutch	PDF
Micro model	31/12/2019	01/09/2020	14/09/2020	Dutch	PDF
Micro model	31/12/2018	30/06/2019	30/08/2019	Dutch	PDF
Micro model	31/12/2017	30/06/2018	31/08/2018	Dutch	PDF
Micro model	31/12/2016	30/06/2017	31/08/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	28/08/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	08/10/2013	09/10/2013	Dutch	PDF
Abridged model	31/12/2011	02/10/2012	05/10/2012	Dutch	PDF
Abridged model	31/12/2010	28/11/2011	29/11/2011	Dutch	PDF
Abridged model	31/12/2009	25/11/2010	26/11/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	15/10/2009	Dutch	PDF
Abridged model	31/12/2007	20/04/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	20/04/2007	14/05/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 1 active · 5 ended

Active mandates

Jan Borms

Director · since 29 mars 2019

Active

Ended mandates

Jan Piet Joris Borms

Director · since 14 novembre 2023

Ended

Jan Borms

Director · since 02 mai 1997

Ended

Jan Borms

Manager · since 02 mai 1997

Ended

Jan Borms

Director · since 13 avril 1994

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates08/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/07/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates15/02/2007
KAPITAAL - AANDELEN - 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 2025-44,7 k €↓
2024
Annual accounts 2024-8,6 k €↓
2023
Annual accounts 202336,6 k €↓
2022
Annual accounts 2022139 k €↑
2021
Annual accounts 20212,7 k €↑
2020
Annual accounts 2020-11,9 k €↓
2019
Annual accounts 20196 k €↓
2018
Annual accounts 201826,5 k €↓
2017
Annual accounts 201753,7 k €↓
2016
Annual accounts 2016142,8 k €↑
2015
Annual accounts 201560,9 k €↑
2014
Annual accounts 2014-12,2 k €↑
2013
Annual accounts 2013-68,4 k €↑
2012
Annual accounts 2012-76,2 k €↓
2011
Annual accounts 2011-17,9 k €↑
2010
Annual accounts 2010-40,9 k €↓
2009
Annual accounts 2009-35,9 k €↓
2008
Annual accounts 2008288,3 k €↑
2007
Annual accounts 2007-173,3 k €↓
2006
Annual accounts 20065,1 k €
13/04/1994
IncorporationPrivate 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

PROPELLER

Overview

What does PROPELLER do?

Trend over 20 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