ACTIVE

AIRELLES

Export PDF

Financial year 2025 · closed on 30/12/2025

Net result

235,5 k €

-84.7% YoY

Gross margin

168,9 k €

+5.1% YoY

Equity

2,5 M €

+10.3% YoY

What does AIRELLES do?

AIRELLES is a Public limited company incorporated in 1998. Its main activity is: Management consultancy activities. Its registered office is in Knokke-Heist.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0464.653.655

Incorporation

24/11/1998

Legal form

Public limited company

Registered office

Kalfhoek 12
8300 Knokke-Heist · FlandreSee on map

Contributed capital

125 000,00 €

Latest accounts

30/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	168,9 k €	+5.1%	160,8 k €	+60.7%	100,1 k €	+8.1%	92,6 k €	+17.7%	78,7 k €	+19.2%	66 k €	-12.3%	75,3 k €	+2.9%	73,2 k €	-17.3%	88,4 k €		–		73,4 k €		–		–		–		–		–		–		–		–
EBITDA	167,8 k €	+5.0%	159,8 k €	+61.1%	99,2 k €	+8.5%	91,4 k €	+18.0%	77,5 k €	+19.1%	65 k €	-12.1%	74 k €	+2.7%	72 k €	-17.7%	87,5 k €	-5.5%	92,6 k €	+34.7%	68,7 k €	-18.8%	84,7 k €	-4.6%	88,8 k €	+25.2%	70,9 k €	+15.7%	61,3 k €	-20.1%	76,8 k €	-43.6%	136,1 k €	-20.0%	170,1 k €	-53.6%	366,8 k €
Operating result	166 k €	+4.9%	158,3 k €	+61.1%	98,3 k €	+12.3%	87,5 k €	+19.1%	73,5 k €	+16.7%	63 k €	-9.9%	69,9 k €	+1.5%	68,9 k €	-23.6%	90,1 k €	+7.0%	84,3 k €	+26.9%	66,4 k €	-20.5%	83,5 k €	-4.7%	87,6 k €	+26.7%	69,1 k €	+25.2%	55,2 k €	-14.8%	64,8 k €	-44.2%	116,3 k €	-22.6%	150,2 k €	-54.4%	329,3 k €
Net result	235,5 k €	-84.7%	1,5 M €	+2243%	65,7 k €	+10.8%	59,3 k €	+19.8%	49,5 k €	+18.9%	41,6 k €	-10.7%	46,6 k €	-3.1%	48,1 k €	-27.7%	66,5 k €	-8.2%	72,4 k €	+4.4%	69,4 k €	-11.7%	78,6 k €	+10.2%	71,3 k €	+120%	32,3 k €	-51.7%	66,9 k €	+26.9%	52,8 k €	-40.9%	89,2 k €	+378%	18,7 k €	+101%	-2,6 M €
Balance sheet
Equity	2,5 M €	+10.3%	2,3 M €	+207%	744,8 k €	+9.7%	679,1 k €	+9.6%	619,8 k €	+8.7%	570,3 k €	+7.9%	528,7 k €	+9.7%	482,1 k €	+11.1%	434 k €	-6.2%	462,5 k €	+18.6%	390 k €	+21.6%	320,6 k €	+32.5%	242 k €	+41.8%	170,7 k €	+23.4%	138,4 k €	-42.7%	241,5 k €	+121%	-1,1 M €	+7.3%	-1,2 M €	+1.5%	-1,2 M €
Total assets	2,6 M €	+3.2%	2,6 M €	+207%	832,9 k €	+7.4%	775,3 k €	+8.1%	717,5 k €	+6.6%	672,9 k €	+8.9%	617,8 k €	+7.2%	576,5 k €	+6.1%	543,6 k €	-2.6%	558 k €	+19.9%	465,5 k €	+9.5%	425,3 k €	-84.0%	2,7 M €	-7.7%	2,9 M €	+613%	403,7 k €	-38.4%	654,9 k €	-2.2%	669,9 k €	-3.8%	696,1 k €	+2.0%	682,3 k €
Cash	5,3 k €	+8546%	60,9 €	-85.4%	417,5 €	+1024%	37,1 €	-94.7%	695,6 €	-10.0%	773,2 €	+2411%	30,8 €	-96.4%	852,6 €	+106%	414 €	-86.6%	3,1 k €	+1375%	208,7 €	+154%	82,2 €	-33.7%	124 €	-99.6%	31,4 k €	+94045%	33,4 €	-99.7%	11,6 k €	+2726%	409,8 €	+26.5%	324 €	-84.8%	2,1 k €
Debts	110,7 k €	-58.5%	266,8 k €	+209%	86,3 k €	-9.3%	95,2 k €	-1.6%	96,7 k €	-4.8%	101,6 k €	+15.4%	88,1 k €	-4.7%	92,4 k €	-14.5%	108,1 k €	+13.1%	95,5 k €	+26.5%	75,5 k €	-27.9%	104,7 k €	-95.6%	2,4 M €	-11.3%	2,7 M €	+934%	261,8 k €	-35.6%	406,5 k €	-77.4%	1,8 M €	-6.2%	1,9 M €	-0.3%	1,9 M €
Other
Workforce	–		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/12/2025 · 4 active · 19 ended

Active mandates

Emilie Royaux

Director · since 06 septembre 2023

Active

ISEM

Director · since 13 juin 2023 · 0454.813.303

Represented by Isabelle Royaux

Active

Luc Royaux

Chairman of the board of directors · since 13 juin 2023

Active

Sandrine Isabelle Legon

Managing director · since 13 juin 2023

Active

Ended mandates

ISEM

Director · since 13 juin 2023 · 0454.813.303

Represented by Isabelle ROYAUX

Ended

Luc Royaux

Managing director · since 13 juin 2023

Ended

ISEM

Director · since 30 juin 2018 · 0454.813.303

Represented by Royaux ISABELLE

Ended

ISEM

Director · since 30 juin 2018 · until 13 juin 2023 · 0454.813.303

Represented by Isabelle Royaux

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	31/12/2024	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	30/12/2025	30/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	13 months	12 months	12 months	12 months	12 months	12 months
Filing date	10/06/2026	24/07/2025	21/06/2024	15/06/2023	13/07/2022	29/06/2021
General meeting	09/06/2026	10/06/2025	11/06/2024	13/06/2023	14/06/2022	29/06/2021
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 days

Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/12/2025	09/06/2026	10/06/2026	Dutch	PDF
Abridged model	30/12/2024	10/06/2025	24/07/2025	Dutch	PDF
Abridged model	31/12/2023	11/06/2024	21/06/2024	Dutch	PDF
Abridged model	31/12/2022	13/06/2023	15/06/2023	Dutch	PDF
Abridged model	31/12/2021	14/06/2022	13/07/2022	Dutch	PDF
Abridged model	31/12/2020	29/06/2021	29/06/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	28/08/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	31/08/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	12/07/2018	Dutch	PDF
Full model	31/12/2016	13/06/2017	03/07/2017	Dutch	PDF
Abridged model	31/12/2015	14/06/2016	08/07/2016	Dutch	PDF
Full model	31/12/2014	09/06/2015	29/06/2015	Dutch	PDF
Full model	31/12/2013	10/06/2014	03/07/2014	Dutch	PDF
Full model	31/12/2012	11/06/2013	22/08/2013	Dutch	PDF
Full model	30/06/2011	09/11/2011	22/12/2011	Dutch	PDF
Full model	30/06/2010	09/11/2010	15/02/2011	Dutch	PDF
Full model	30/06/2009	09/11/2009	26/01/2010	Dutch	PDF
Full model	30/06/2008	09/11/2008	12/02/2009	Dutch	PDF
Full model	30/06/2007	09/11/2007	06/02/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 30/12/2025 · 4 active · 19 ended

Active mandates

Emilie Royaux

Director · since 06 septembre 2023

Active

ISEM

Director · since 13 juin 2023 · 0454.813.303

Represented by Isabelle Royaux

Active

Luc Royaux

Chairman of the board of directors · since 13 juin 2023

Active

Sandrine Isabelle Legon

Managing director · since 13 juin 2023

Active

Ended mandates

ISEM

Director · since 13 juin 2023 · 0454.813.303

Represented by Isabelle ROYAUX

Ended

Luc Royaux

Managing director · since 13 juin 2023

Ended

ISEM

Director · since 30 juin 2018 · 0454.813.303

Represented by Royaux ISABELLE

Ended

ISEM

Director · since 30 juin 2018 · until 13 juin 2023 · 0454.813.303

Represented by Isabelle Royaux

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other30/12/2024
BOEKJAAR
PDF
Mandates13/09/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Registered office23/07/2020
MAATSCHAPPELIJKE ZETEL
PDF
Mandates24/07/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/07/2017
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Registered office25/09/2014
MAATSCHAPPELIJKE ZETEL
PDF
Registered office09/12/2013
MAATSCHAPPELIJKE ZETEL
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 2025235,5 k €↓
2024
Annual accounts 20241,5 M €↑
2023
Annual accounts 202365,7 k €↑
2022
Annual accounts 202259,3 k €↑
2021
Annual accounts 202149,5 k €↑
2020
Annual accounts 202041,6 k €↓
2019
Annual accounts 201946,6 k €↓
2018
Annual accounts 201848,1 k €↓
2017
Annual accounts 201766,5 k €↓
2016
Annual accounts 201672,4 k €↑
2015
Annual accounts 201569,4 k €↓
2014
Annual accounts 201478,6 k €↑
2013
Annual accounts 201371,3 k €↑
2012
Annual accounts 201232,3 k €↓
2011
Annual accounts 201166,9 k €↑
2010
Annual accounts 201052,8 k €↓
2009
Annual accounts 200989,2 k €↑
2008
Annual accounts 200818,7 k €↑
2007
Annual accounts 2007-2,6 M €
24/11/1998
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

AIRELLES

Overview

What does AIRELLES do?

Trend over 19 financial years

Indicative valuation

Board of directors

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