CHALLENGE HANDLING
0459.890.856 · rovalta.com · 23/09/2026
ACTIVE
CHALLENGE HANDLING
Financial year 2025 · closed on 31/12/2025
Net result
25,5 k €
+101.5% YoY
Revenue
58,5 M €
+12.8% YoY
Equity
-676 k €
+53.4% YoY
Workforce
571,8 ETP
+5.7% YoY
Overview
What does CHALLENGE HANDLING do?
CHALLENGE HANDLING is a Public limited company incorporated in 1997. Its main activity is: Service activities incidental to air transportation. Its registered office is in Grâce-Hollogne. It employs on average 571,8 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0459.890.856
Incorporation
20/01/1997
Legal form
Public limited company
Registered office
Aéroport de Liège 76
4460 Grâce-Hollogne · WallonieSee on map
4460 Grâce-Hollogne · WallonieSee on map
Contributed capital
1 230 000,00 €
Latest accounts
31/12/2025
Average workforce
571,8 ETP
Activities (NACE)
Joint committees (1)
- 31502
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue
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Financials
Trend over 19 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||||
| Revenue | 58,5 M € | +12.8% | 51,9 M € | +11.5% | 46,6 M € | +10.8% | 42 M € | +13.9% | 36,9 M € | +55.7% | 23,7 M € | -4.5% | 24,8 M € | +23.6% | 20,1 M € | +28.3% | 15,6 M € | +1.4% | 15,4 M € | +14.5% | 13,5 M € | +28.9% | 10,5 M € | +3.4% | 10,1 M € | +2.0% | 9,9 M € | +1.6% | 9,8 M € | +19.3% | 8,2 M € | -18.0% | 10 M € | +1.7% | 9,8 M € | +15.7% | 8,5 M € |
| EBITDA | 3,3 M € | +52.4% | 2,2 M € | +87.8% | 1,2 M € | +196% | -1,2 M € | -167% | 1,8 M € | +44.7% | 1,2 M € | +3.1% | 1,2 M € | +28.2% | 938,2 k € | -3.4% | 971,5 k € | -25.2% | 1,3 M € | +4.1% | 1,2 M € | +14.0% | 1,1 M € | -0.7% | 1,1 M € | +47.6% | 747,7 k € | -34.1% | 1,1 M € | +16.5% | 973,8 k € | +35.1% | 720,8 k € | -44.8% | 1,3 M € | +2.2% | 1,3 M € |
| Operating result | 668,8 k € | +3427% | 19 k € | +101% | -1,3 M € | +63.7% | -3,5 M € | -898% | 440,8 k € | +40.4% | 314 k € | -13.5% | 363,2 k € | +84.9% | 196,4 k € | +22.0% | 161 k € | -70.0% | 536,2 k € | +11.0% | 483,2 k € | +20.0% | 402,7 k € | +24.2% | 324,1 k € | +692% | -54,8 k € | -116% | 350,2 k € | +93.5% | 181 k € | +279% | 47,8 k € | -81.6% | 259,1 k € | +10.1% | 235,2 k € |
| Net result | 25,5 k € | +102% | -1,7 M € | -18.3% | -1,4 M € | +60.9% | -3,7 M € | -6446% | 57,7 k € | +52.7% | 37,8 k € | -66.7% | 113,5 k € | +260% | 31,6 k € | +4.2% | 30,3 k € | -92.8% | 422,7 k € | -14.8% | 495,9 k € | +23.4% | 401,8 k € | +74.7% | 230 k € | +191% | -251,4 k € | -178% | 324 k € | +412% | 63,2 k € | +47.8% | 42,8 k € | -60.5% | 108,2 k € | -11.1% | 121,8 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||
| Equity | -676 k € | +53.4% | -1,4 M € | -661% | 258,5 k € | -84.9% | 1,7 M € | -68.3% | 5,4 M € | +70.6% | 3,2 M € | +0.7% | 3,1 M € | +2.4% | 3,1 M € | -0.6% | 3,1 M € | -0.8% | 3,1 M € | +12.8% | 2,8 M € | +18.0% | 2,3 M € | +19.5% | 2 M € | +12.5% | 1,7 M € | -14.3% | 2 M € | +37.9% | 1,5 M € | +1.8% | 1,4 M € | +0.3% | 1,4 M € | +3.6% | 1,4 M € |
| Total assets | 17,3 M € | -8.8% | 19 M € | -10.4% | 21,2 M € | -1.6% | 21,6 M € | +0.4% | 21,5 M € | +107% | 10,4 M € | -9.5% | 11,5 M € | +24.2% | 9,3 M € | +31.6% | 7 M € | -7.6% | 7,6 M € | +0.6% | 7,6 M € | +31.1% | 5,8 M € | -6.0% | 6,1 M € | -0.5% | 6,2 M € | -6.3% | 6,6 M € | -6.7% | 7,1 M € | -6.3% | 7,5 M € | -0.7% | 7,6 M € | -3.3% | 7,8 M € |
| Cash | 1,7 M € | -41.7% | 3 M € | +75.8% | 1,7 M € | +52.1% | 1,1 M € | +16.9% | 953,6 k € | +81.4% | 525,6 k € | -39.3% | 865,6 k € | +105% | 422,4 k € | +61.7% | 261,1 k € | -56.2% | 596,6 k € | +114% | 279,2 k € | +79.1% | 155,9 k € | -5.5% | 165 k € | +360% | 35,9 k € | -88.7% | 316,7 k € | -23.9% | 415,9 k € | +240% | 122,2 k € | -29.7% | 173,9 k € | +93.8% | 89,7 k € |
| Debts | 18 M € | -12.0% | 20,4 M € | -2.4% | 20,9 M € | +5.6% | 19,8 M € | +23.5% | 16 M € | +124% | 7,2 M € | -12.2% | 8,2 M € | +40.6% | 5,8 M € | +51.4% | 3,8 M € | -12.7% | 4,4 M € | -6.3% | 4,7 M € | +41.7% | 3,3 M € | -18.2% | 4 M € | -5.5% | 4,3 M € | -2.6% | 4,4 M € | -18.7% | 5,4 M € | -7.7% | 5,9 M € | -0.3% | 5,9 M € | -4.6% | 6,2 M € |
| Other | |||||||||||||||||||||||||||||||||||||
| Workforce | 571,8 ETP | +5.7% | 541,0 ETP | +4.4% | 518,0 ETP | +2.6% | 505,0 ETP | +12.0% | 451,0 ETP | +31.0% | 344,3 ETP | +11.3% | 309,4 ETP | +28.9% | 240,0 ETP | +9.4% | 219,4 ETP | +9.0% | 201,2 ETP | +24.5% | 161,6 ETP | +13.9% | 141,9 ETP | -2.9% | 146,2 ETP | +19.7% | 122,1 ETP | +10.1% | 110,9 ETP | -1.4% | 112,5 ETP | -1.8% | 114,6 ETP | +15.1% | 99,6 ETP | +12.8% | 88,3 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 5 M€ and 10 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 3 active · 25 ended
Active mandates
DANIEL GANEM
ActiveSHMUEL RAVINA
ActiveYOSSI SHOUKROUN
ActiveEnded mandates
Yossi SHOUKROUN
EndedOffer GILBOA
EndedOffer GILBOA
EndedShmuel RAVINA
EndedFinancials
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 | 03/08/2026 | 09/07/2025 | 01/07/2024 | 30/06/2023 | 06/07/2022 | 05/07/2021 |
| General meeting | 30/06/2026 | 30/06/2025 | 30/06/2024 | 30/06/2023 | 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
21 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Full model | 31/12/2025 | 30/06/2026 | 03/08/2026 | French | |
| Full model | 31/12/2024 | 30/06/2025 | 09/07/2025 | French | |
| Full model | 31/12/2023 | 30/06/2024 | 01/07/2024 | French | |
| Full model | 31/12/2022 | 30/06/2023 | 30/06/2023 | French | |
| Full model | 31/12/2021 | 30/06/2022 | 06/07/2022 | French | |
| Full model | 31/12/2020 | 30/06/2021 | 05/07/2021 | French | |
| Full modelCorrection | 31/12/2019 | 29/06/2020 | 04/11/2020 | French | |
| Full model | 31/12/2019 | 29/06/2020 | 13/08/2020 | French | |
| Full model | 31/12/2018 | 24/06/2019 | 09/07/2019 | French | |
| Full model | 31/12/2017 | 25/06/2018 | 10/07/2018 | French | |
| Full model | 31/12/2016 | 30/06/2017 | 06/07/2017 | French | |
| Full model | 31/12/2015 | 30/06/2016 | 12/07/2016 | French | |
| Full model | 31/12/2014 | 30/06/2015 | 10/07/2015 | French | |
| Full model | 31/12/2013 | 31/05/2014 | 16/06/2014 | French | |
| Full model | 31/12/2012 | 30/06/2013 | 12/08/2013 | French | |
| Full model | 31/12/2011 | 30/06/2012 | 14/08/2012 | French | |
| Full model | 31/12/2010 | 30/06/2011 | 10/08/2011 | French | |
| Full model | 31/12/2009 | 29/06/2010 | 26/07/2010 | French | |
| Full model | 31/12/2008 | 29/06/2009 | 21/08/2009 | French | |
| Full model | 31/12/2007 | 30/06/2008 | 22/08/2008 | French | |
| Full model | 31/12/2006 | 30/06/2007 | 30/07/2007 | French |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 5 M€ and 10 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 3 active · 25 ended
Active mandates
DANIEL GANEM
ActiveSHMUEL RAVINA
ActiveYOSSI SHOUKROUN
ActiveEnded mandates
Yossi SHOUKROUN
EndedOffer GILBOA
EndedOffer GILBOA
EndedShmuel RAVINA
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates17/07/2026DEMISSIONS, NOMINATIONS
- Mandates06/12/2024DEMISSIONS, NOMINATIONS
- Mandates25/10/2022DEMISSIONS, NOMINATIONS
- Mandates23/12/2021DEMISSIONS, NOMINATIONS
- Mandates08/01/2021DEMISSIONS, NOMINATIONS
- Mandates31/12/2020STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DENOMINATION
- Mandates18/04/2019DEMISSIONS, NOMINATIONS
- Mandates31/07/2017CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 202525,5 k €↑
- 2024Annual accounts 2024-1,7 M €↓
- 2023Annual accounts 2023-1,4 M €↑
- 2022Annual accounts 2022-3,7 M €↓
- 2021Annual accounts 202157,7 k €↑
- 2021Name changeCHALLENGE HANDLING
- 2019Annual accounts 201937,8 k €↓
- 2018Annual accounts 2018113,5 k €↑
- 2017Annual accounts 201731,6 k €↑
- 2016Annual accounts 201630,3 k €↓
- 2015Annual accounts 2015422,7 k €↓
- 2014Annual accounts 2014495,9 k €↑
- 2013Annual accounts 2013401,8 k €↑
- 2012Annual accounts 2012230 k €↑
- 2011Annual accounts 2011-251,4 k €↓
- 2010Annual accounts 2010324 k €↑
- 2009Annual accounts 200963,2 k €↑
- 2008Annual accounts 200842,8 k €↓
- 2007Annual accounts 2007108,2 k €↓
- 2006Annual accounts 2006121,8 k €
- 2006Name changeLIEGE AIR CARGO HANDLING SERVICES
- 20/01/1997IncorporationPublic limited company