ACTIVE

ASL Airlines Belgium

Export PDF

Financial year 2025 · Closed on 31/12/2025

Net result4,3 M €-40,8 %over 1 year

Revenue665,5 M €-2,4 %over 1 year

Equity43 M €+10,8 %over 1 year

Workforce409,4 ETP-14,3 %over 1 year

Identity

Source · BCE/KBO

ASL Airlines Belgium is a Public limited company incorporated in 1999. Its registered office is in Grâce-Hollogne. It employs on average 409,4 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0466.467.258
Incorporation: 07/07/1999
Legal form: Public limited company
Registered office: Rue de l'Aéroport 101
4460 Grâce-Hollogne · WallonieSee on map
Contributed capital: 10 000 000,00 €
Latest accounts: 31/12/2025
Average workforce: 409,4 ETP

Joint committees (1)

31502

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	665,5 M €	-2.4%	681,8 M €	+3.2%	660,8 M €	-17.6%	802,4 M €	+19.7%	670,1 M €
EBITDA	11,4 M €	+39.3%	8,2 M €	+204%	-7,9 M €	-159%	13,3 M €	-67.2%	40,6 M €
Operating result	9,4 M €	+79.0%	5,2 M €	+39.7%	3,8 M €	-54.9%	8,3 M €	-68.7%	26,6 M €
Net result	4,3 M €	-40.8%	7,3 M €	+87.9%	3,9 M €	-48.7%	7,5 M €	-73.2%	28,2 M €
Balance sheet
Equity	43 M €	+10.8%	38,8 M €	+22.3%	31,7 M €	+11.7%	28,4 M €	+27.5%	22,3 M €
Total assets	176,4 M €	-23.7%	231,2 M €	-8.8%	253,4 M €	-38.7%	413,1 M €	+62.5%	254,2 M €
Cash	16,7 M €	-44.4%	30,1 M €	-28.4%	42 M €	+1.2%	41,5 M €	-32.5%	61,5 M €
Debts	102,7 M €	-37.4%	164 M €	-16.2%	195,6 M €	-43.9%	348,4 M €	+76.4%	197,5 M €
Other
Workforce	409,4 ETP	-14.3%	477,9 ETP	-10.7%	535,0 ETP	+8.8%	491,8 ETP	+4.4%	471,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 50 M€ and 100 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 32 ended

Active mandates

Mary Townsend

Director · since 16 novembre 2022 · until 25 avril 2028

Active

David Andrew

Director · since 18 juin 2020 · until 28 avril 2026

Active

Colin Grant

Director · since 24 mai 2016 · until 25 avril 2028

Active

Mark O'Kelly

Director · since 24 mai 2016 · until 25 avril 2028

Active

Marc Bollinne

Managing director · since 10 avril 2013 · until 25 avril 2028

Active

Ended mandates

Mary Townsend

Director · since 16 novembre 2022 · until 11 avril 2028

Ended

David Andrew

Director · since 18 juin 2020 · until 14 avril 2026

Ended

Ulf Weber

Managing director · since 17 juillet 2017 · until 14 avril 2020

Ended

Colin Grant

Director · since 24 mai 2016 · until 12 avril 2022

Ended

Other companies at this address

Rue de l'Aéroport 101 4460 Grâce-Hollogne

Company	CBE no.
ASLB-BACB● Active	1038.097.958
BEL Air Cargo● Active	0774.771.464

Full financial information

Source · NBB

	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	20/05/2026	16/05/2025	27/06/2024	17/05/2023	14/11/2022	13/07/2021
General meeting	28/04/2026	29/04/2025	20/06/2024	21/04/2023	29/04/2022	23/04/2021
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

Financial ratios

Source · NBB

Looking for more information about this company?

Try for free

Annual accounts filings

Source · NBB, 21 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	28/04/2026	20/05/2026	French	PDF
Full model	31/12/2024	29/04/2025	16/05/2025	French	PDF
Full model	31/12/2023	20/06/2024	27/06/2024	French	PDF
Full model	31/12/2022	21/04/2023	17/05/2023	French	PDF
Full modelCorrection	31/12/2021	29/04/2022	14/11/2022	French	PDF
Full model	31/12/2021	29/04/2022	02/05/2022	French	PDF
Full model	31/12/2020	23/04/2021	13/07/2021	French	PDF
Full model	31/12/2019	29/05/2020	10/06/2020	French	PDF
Full model	31/12/2018	26/04/2019	06/05/2019	French	PDF
Full model	31/12/2017	27/04/2018	02/05/2018	French	PDF
Full model	31/12/2016	27/06/2017	05/07/2017	French	PDF
Full model	31/12/2015	30/03/2016	06/06/2016	French	PDF
Full model	31/12/2014	14/04/2015	22/05/2015	French	PDF
Full model	31/12/2013	24/04/2014	27/05/2014	French	PDF
Full model	31/12/2012	09/04/2013	22/05/2013	French	PDF
Full model	31/12/2011	10/04/2012	08/05/2012	French	PDF
Full model	31/12/2010	12/04/2011	09/05/2011	French	PDF
Full model	31/12/2009	13/04/2010	06/05/2010	French	PDF
Full model	31/12/2008	14/04/2009	24/04/2009	French	PDF
Full model	31/12/2007	08/04/2008	13/05/2008	French	PDF
Full model	31/12/2006	15/05/2007	18/06/2007	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 50 M€ and 100 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.

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 32 ended

Active mandates

Mary Townsend

Director · since 16 novembre 2022 · until 25 avril 2028

Active

David Andrew

Director · since 18 juin 2020 · until 28 avril 2026

Active

Colin Grant

Director · since 24 mai 2016 · until 25 avril 2028

Active

Mark O'Kelly

Director · since 24 mai 2016 · until 25 avril 2028

Active

Marc Bollinne

Managing director · since 10 avril 2013 · until 25 avril 2028

Active

Ended mandates

Mary Townsend

Director · since 16 novembre 2022 · until 11 avril 2028

Ended

David Andrew

Director · since 18 juin 2020 · until 14 avril 2026

Ended

Ulf Weber

Managing director · since 17 juillet 2017 · until 14 avril 2020

Ended

Colin Grant

Director · since 24 mai 2016 · until 12 avril 2022

Ended

Ownership and network

Looking for more information about this company?

Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates24/06/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates04/12/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates22/12/2023
DEMISSIONS, NOMINATIONS
PDF
Other20/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates01/08/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates30/03/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates29/07/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates02/02/2021
DEMISSIONS, NOMINATIONS
PDF

Similar companies

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

See the Business plan

Timeline

28/04/2026
reconductionDavid ANDREW — administrateur et de Président du conseil d'administration
2025
Annual accounts 20254,3 M €↓
29/04/2025
nominationKPMG Réviseurs d'Entreprises BV/SRL — commissaire
29/04/2025
nominationThierry Schoofs — représentant permanent
2024
Annual accounts 20247,3 M €↑
2023
Annual accounts 20233,9 M €↓
21/04/2023
nominationThierry Schoofs — représentant permanent (commissaire)
2022
Annual accounts 20227,5 M €↓
16/11/2022
nominationMary Julia TOWNSEND — administrateur
29/04/2022
reconductionMarc Bollinne — administrateur-délégué
29/04/2022
reconductionKPMG Réviseurs d'Entreprises SCRL civile — commissaire
2021
Annual accounts 202128,2 M €↑
2020
Annual accounts 20205,7 M €↑
2019
Annual accounts 20194,6 M €↓
2018
Annual accounts 20185,1 M €↓
2017
Annual accounts 20177,7 M €↓
2016
Annual accounts 201611,3 M €↑
2015
Annual accounts 20158,2 M €↑
2014
Annual accounts 20146,4 M €↓
2013
Annual accounts 201310,4 M €↓
2012
Annual accounts 201234,2 M €↑
2011
Annual accounts 201113,9 M €↓
2010
Annual accounts 201014,3 M €↑
2009
Annual accounts 200912,9 M €↓
2008
Annual accounts 200821 M €↑
2007
Annual accounts 20072,1 M €↑
2006
Annual accounts 20061,1 M €
07/07/1999
IncorporationPublic limited company

ASL Airlines Belgium

Overview

Identity

Financials

Valuation

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

Timeline