ACTIVE

NETWORK AIRLINE SERVICES

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Financial year 2025 · closed on 31/12/2025

Net result

195,3 k €

-35.2% YoY

Gross margin

1,9 M €

-7.7% YoY

Equity

86,4 k €

-89.1% YoY

Workforce

11,6 ETP

+10.5% YoY

What does NETWORK AIRLINE SERVICES do?

NETWORK AIRLINE SERVICES is a Private limited company incorporated in 1999. Its main activity is: Freight air transport. Its registered office is in Machelen (Brab.). It employs on average 11,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0466.014.922

Incorporation

07/05/1999

Legal form

Private limited company

Registered office

Bedrijvenzone Machelen-Cargo 835 box PB13
1830 Machelen (Brab.) · FlandreSee on map

Contributed capital

19 000,00 €

Latest accounts

31/12/2025

Average workforce

11,6 ETP

Activities (NACE)

51210Freight air transport· main 51210Freight air transport 52250Support activities for transportation 52290Other transportation support activities 63405Information service activities

Joint committees (1)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

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
Gross margin	1,9 M €	-7.7%	2 M €	+2.5%	2 M €	+9.9%	1,8 M €	+6.2%	1,7 M €	+177%	609,2 k €	-21.2%	772,7 k €		–		–		–		–		–		–		–		116,5 k €	+2.9%	113,2 k €	+6.2%	106,6 k €	+32.5%	80,5 k €	-42.8%	140,6 k €
EBITDA	258 k €	-38.0%	415,9 k €	+29.3%	321,6 k €	+152%	127,7 k €	+1.1%	126,2 k €	+214%	-110,9 k €	-259%	70 k €	-69.1%	226,2 k €	+388%	46,4 k €	+3.2%	44,9 k €	+3.3%	43,5 k €	+4.6%	41,6 k €	-8.2%	45,3 k €	+70.3%	26,6 k €	+966%	-3,1 k €	+18.8%	-3,8 k €	+40.6%	-6,4 k €	-2156%	309,5 €	-99.6%	75,7 k €
Operating result	248,9 k €	-38.6%	405,4 k €	+29.0%	314,4 k €	+153%	124,1 k €	+0.1%	124 k €	+210%	-112,4 k €	-263%	69,1 k €	-68.4%	218,7 k €	+461%	39 k €	+3.9%	37,5 k €	+5.7%	35,5 k €	+5.7%	33,6 k €	-0.0%	33,6 k €	+46.7%	22,9 k €	+410%	-7,4 k €	+8.8%	-8,1 k €	-13.9%	-7,1 k €	-4255%	171 €	-99.8%	75,6 k €
Net result	195,3 k €	-35.2%	301,2 k €	+32.1%	227,9 k €	+144%	93,3 k €	+30.1%	71,7 k €	+162%	-115,6 k €	-361%	44,3 k €	-67.8%	137,4 k €	+595%	19,8 k €	+14.3%	17,3 k €	+173%	6,3 k €	-22.3%	8,2 k €	-58.6%	19,7 k €	-6.9%	21,2 k €	+387%	-7,4 k €	+13.6%	-8,5 k €	-9.1%	-7,8 k €	-1456%	-503,4 €	-101%	57,4 k €
Balance sheet
Equity	86,4 k €	-89.1%	791,1 k €	+61.5%	490 k €	+87.0%	262 k €	+55.3%	168,7 k €	+1459%	-12,4 k €	-112%	103,2 k €	-60.5%	260,9 k €	+111%	123,5 k €	+19.1%	103,8 k €	+20.0%	86,5 k €	+7.9%	80,1 k €	+11.3%	72 k €	+37.7%	52,2 k €	+68.2%	31,1 k €	-19.2%	38,4 k €	-18.2%	47 k €	-14.3%	54,8 k €	-0.9%	55,3 k €
Total assets	2,7 M €	-7.0%	2,9 M €	-16.9%	3,5 M €	-9.7%	3,9 M €	+52.2%	2,6 M €	+232%	778 k €	-59.1%	1,9 M €	+38.9%	1,4 M €	+8.8%	1,3 M €	+25.9%	1 M €	+44.2%	693,3 k €	+9.2%	634,8 k €	+8.2%	586,9 k €	-51.3%	1,2 M €	+210%	388 k €	+120%	176,4 k €	-27.7%	244,1 k €	+11.8%	218,5 k €	-24.6%	289,8 k €
Cash	1,7 M €	+33.5%	1,3 M €	+161%	496,7 k €	-69.2%	1,6 M €	+66.1%	969,6 k €	+1271%	70,7 k €	-80.0%	354,4 k €	+1491%	22,3 k €	-95.4%	487,1 k €	+70.9%	285 k €	+104%	139,4 k €	+798%	15,5 k €	-94.6%	287,8 k €	+18.0%	243,9 k €	+50.1%	162,5 k €	+105%	79,1 k €	+105%	38,6 k €	-69.8%	127,9 k €	+307%	31,4 k €
Debts	2,7 M €	+23.1%	2,2 M €	-29.2%	3 M €	-16.8%	3,7 M €	+52.1%	2,4 M €	+205%	790,4 k €	-56.1%	1,8 M €	+62.3%	1,1 M €	-2.4%	1,1 M €	+29.4%	877,8 k €	+50.5%	583,2 k €	+5.1%	554,7 k €	+7.7%	514,9 k €	-55.3%	1,2 M €	+223%	357 k €	+159%	138 k €	-30.0%	197,2 k €	+20.5%	163,6 k €	-30.2%	234,5 k €
Other
Workforce	11,6 ETP	+10.5%	10,5 ETP	-2.8%	10,8 ETP	-4.4%	11,3 ETP	+7.6%	10,5 ETP	+1.9%	10,3 ETP	+17.0%	8,8 ETP	0.0%	8,8 ETP	+3.5%	8,5 ETP	-3.4%	8,8 ETP	+31.3%	6,7 ETP	+123%	3,0 ETP	+3.4%	2,9 ETP	+3.6%	2,8 ETP	+40.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	+53.8%	1,3 ETP	+30.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Alexander van Vilsteren

Director · since 01 mars 2022

Active

Andrew Michael Ballard

Director · since 18 janvier 2013

Active

Ended mandates

Andrew Michael Ballard

Manager · since 18 janvier 2013

Ended

Patricia Heilbrink

Director · since 04 mai 1999 · until 29 avril 2022

Ended

Patricia Heilbrink

Director · since 04 mai 1999

Ended

Patricia Heilbrink

Manager · since 04 mai 1999

Ended

At this address

Other companies at this address

Company	CBE no.
AERO CARGO INTERNATIONAL● Active	0466.866.146
FLYUS● Active	0478.709.153
GLOBAL AIRLINE SERVICES BELUX● Active	0542.771.715
Globe Air Cargo● Active	0455.745.986
VIA Group● Active	0451.158.777
Worldwide Flight Services Belgium NV● Active	0549.867.462

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	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	16/07/2026	01/07/2025	04/07/2024	16/06/2023	15/07/2022	30/06/2021
General meeting	10/07/2026	30/06/2025	28/06/2024	09/06/2023	30/06/2022	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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	10/07/2026	16/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	01/07/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	04/07/2024	Dutch	PDF
Abridged model	31/12/2022	09/06/2023	16/06/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	15/07/2022	Dutch	PDF
Abridged model	31/12/2020	29/06/2021	30/06/2021	Dutch	PDF
Abridged model	31/12/2019	30/05/2020	02/07/2020	Dutch	PDF
Abridged model	31/12/2018	08/08/2019	21/08/2019	Dutch	PDF
Full model	31/12/2017	28/06/2018	10/07/2018	Dutch	PDF
Full model	31/12/2016	30/05/2017	12/07/2017	Dutch	PDF
Full model	31/12/2015	30/05/2016	06/06/2016	Dutch	PDF
Full model	31/12/2014	30/05/2015	24/07/2015	Dutch	PDF
Full model	31/12/2013	30/05/2014	01/08/2014	Dutch	PDF
Full model	31/12/2012	30/05/2013	07/06/2013	Dutch	PDF
Full model	31/12/2011	29/06/2012	27/08/2012	Dutch	PDF
Abridged model	31/12/2010	30/05/2011	17/06/2011	Dutch	PDF
Abridged model	31/12/2009	31/05/2010	26/07/2010	Dutch	PDF
Abridged model	31/12/2008	02/01/2009	24/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/05/2008	11/06/2008	Dutch	PDF
Abridged model	31/12/2006	30/05/2007	19/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 2 active · 4 ended

Active mandates

Alexander van Vilsteren

Director · since 01 mars 2022

Active

Andrew Michael Ballard

Director · since 18 janvier 2013

Active

Ended mandates

Andrew Michael Ballard

Manager · since 18 janvier 2013

Ended

Patricia Heilbrink

Director · since 04 mai 1999 · until 29 avril 2022

Ended

Patricia Heilbrink

Director · since 04 mai 1999

Ended

Patricia Heilbrink

Manager · since 04 mai 1999

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office17/08/2026
Verplaatsing maatschappelijke zetel
PDF
Registered office18/12/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates09/10/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/08/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/08/2020
ONTSLAGEN - BENOEMINGEN
PDF
Registered office28/02/2019
MAATSCHAPPELIJKE ZETEL
PDF
Mandates17/05/2018
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 2025195,3 k €↓
2024
Annual accounts 2024301,2 k €↑
2023
Annual accounts 2023227,9 k €↑
2022
Annual accounts 202293,3 k €↑
2021
Annual accounts 202171,7 k €↑
2019
Annual accounts 2019-115,6 k €↓
2018
Annual accounts 201844,3 k €↓
2017
Annual accounts 2017137,4 k €↑
2016
Annual accounts 201619,8 k €↑
2015
Annual accounts 201517,3 k €↑
2014
Annual accounts 20146,3 k €↓
2013
Annual accounts 20138,2 k €↓
2012
Annual accounts 201219,7 k €↓
2011
Annual accounts 201121,2 k €↑
2010
Annual accounts 2010-7,4 k €↑
2009
Annual accounts 2009-8,5 k €↓
2008
Annual accounts 2008-7,8 k €↓
2007
Annual accounts 2007-503,4 €↓
2006
Annual accounts 200657,4 k €
07/05/1999
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

NETWORK AIRLINE SERVICES

Overview

What does NETWORK AIRLINE SERVICES 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