ACTIVE

Challenge Airlines (BE) S.A

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Financial year 2024 · Closed on 31/12/2024

Net result-6,9 M €-31 647,6 %over 1 year

Revenue70,1 M €+0,3 %over 1 year

Equity-14,3 M €-93,0 %over 1 year

Workforce93,5 ETP+5,2 %over 1 year

Identity

Source · BCE/KBO

Challenge Airlines (BE) S.A is a Public limited company incorporated in 2017. Its main activity is: Agents involved in the sale of machinery, industrial equipment, ships and aircraft. Its registered office is in Grâce-Hollogne. It employs on average 93,5 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0669.921.491
Incorporation: 24/01/2017
Legal form: Public limited company
Registered office: Rue du Fort 3
4460 Grâce-Hollogne · WallonieSee on map
Contributed capital: 64 000,00 €
Latest accounts: 31/12/2024
Average workforce: 93,5 ETP

Activities (NACE)

46140Agents involved in the sale of machinery, industrial equipment, ships and aircraft· main 46140Agents involved in the sale of machinery, industrial equipment, ships and aircraft 52250Support activities for transportation 52290Other transportation support activities 33160Repair and maintenance of aircraft and spacecraft 33160Repair and maintenance of aircraft and spacecraft+8

Joint committees (1)

31502

Signals

Good liquidityHealthy social debtsHigh revenue

Financials

Source · NBB, 8 filings

Trend over 7 financial years

	2024		2023		2022		2021		2020
Income statement
Revenue	70,1 M €	+0.3%	69,9 M €	+32.4%	52,8 M €	+24.7%	42,3 M €	+4.0%	40,7 M €
EBITDA	-7,6 M €	-123%	32,7 M €	+12940%	-254,8 k €	+67.8%	-791,5 k €	-128%	2,9 M €
Operating result	-7,1 M €	-3389%	216,8 k €	+169%	-314,1 k €	+62.1%	-828,8 k €	-130%	2,8 M €
Net result	-6,9 M €	-31648%	21,9 k €	+108%	-258,7 k €	+73.3%	-969,8 k €	-140%	2,4 M €
Balance sheet
Equity	-14,3 M €	-93.0%	-7,4 M €	+0.3%	-7,4 M €	-3.6%	-7,2 M €	-15.6%	-6,2 M €
Total assets	78,4 M €	+9.1%	71,9 M €	+169%	26,7 M €	+58.5%	16,8 M €	+45.6%	11,6 M €
Cash	3 M €	-8.7%	3,3 M €	+90.3%	1,7 M €	-61.1%	4,5 M €	+270%	1,2 M €
Debts	60,5 M €	+29.3%	46,8 M €	+108%	22,5 M €	+24.6%	18 M €	+18.1%	15,3 M €
Other
Workforce	93,5 ETP	+5.2%	88,9 ETP	+26.6%	70,2 ETP	+26.9%	55,3 ETP	+17.4%	47,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2024

4 active · 11 ended

Active mandates

CORRECT III

Managing director · since 01 juin 2024 · until 15 juin 2029 · 0770.849.595

Represented by Eshel Heffetz

Active

Didier Henet

Director · since 15 juin 2023 · until 15 juin 2029

Active

Francine Wouters

Director · since 15 juin 2023 · until 15 juin 2029

Active

Yossi Shoukroun

Director · since 10 juin 2021 · until 15 juin 2027

Active

Ended mandates

Didier Henet

Director · since 15 juin 2023 · until 14 juin 2029

Ended

Eshel Heffetz

Managing director · since 15 juin 2023 · until 14 juin 2029

Ended

Francine Wouters

Director · since 15 juin 2023 · until 14 juin 2029

Ended

Sten Rossby

Director · since 01 octobre 2018 · until 31 juillet 2019

Ended

Other companies at this address

Rue du Fort 3 4460 Grâce-Hollogne

Company	CBE no.
ATHYLA● Active	0627.691.849
Challenge Technic (BE)● Active	1038.427.362
MON COURTIER ENERGIE BELGIUM● Active	1010.785.926
SIRIUS BELGIUM REASSURANCES● Liquidation	0418.852.532
Uptime ICT● Active	0500.497.234

Full financial information

Source · NBB

	2024	2023	2022	2021	2020	2019
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	03/07/2025	17/10/2024	05/10/2023	06/05/2022	20/04/2021	26/05/2020
General meeting	16/06/2025	30/09/2024	12/09/2023	13/04/2022	30/03/2021	15/05/2020
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

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Annual accounts filings

Source · NBB, 8 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2024	16/06/2025	03/07/2025	French	PDF
Full model	31/12/2023	30/09/2024	17/10/2024	French	PDF
Full model	31/12/2022	12/09/2023	05/10/2023	French	PDF
Full model	31/12/2021	13/04/2022	06/05/2022	French	PDF
Full model	31/12/2020	30/03/2021	20/04/2021	French	PDF
Full model	31/12/2019	15/05/2020	26/05/2020	French	PDF
Abridged model	31/12/2018	20/03/2019	03/05/2019	French	PDF
Abridged model	31/12/2017	04/06/2018	02/07/2018	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 31/12/2024

4 active · 11 ended

Active mandates

CORRECT III

Managing director · since 01 juin 2024 · until 15 juin 2029 · 0770.849.595

Represented by Eshel Heffetz

Active

Didier Henet

Director · since 15 juin 2023 · until 15 juin 2029

Active

Francine Wouters

Director · since 15 juin 2023 · until 15 juin 2029

Active

Yossi Shoukroun

Director · since 10 juin 2021 · until 15 juin 2027

Active

Ended mandates

Didier Henet

Director · since 15 juin 2023 · until 14 juin 2029

Ended

Eshel Heffetz

Managing director · since 15 juin 2023 · until 14 juin 2029

Ended

Francine Wouters

Director · since 15 juin 2023 · until 14 juin 2029

Ended

Sten Rossby

Director · since 01 octobre 2018 · until 31 juillet 2019

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates27/02/2026
DEMISSIONS, NOMINATIONS
PDF
Mandates03/11/2025
DEMISSIONS, NOMINATIONS
PDF
Registered office22/07/2025
SIEGE SOCIAL
PDF
Mandates12/11/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates05/07/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates09/09/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates01/07/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates29/05/2020
DENOMINATION - DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
PDF

Similar companies

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

See the Business plan

Timeline

30/01/2026
nominationPwC Reviseurs d'Entreprises — commissaire
30/01/2026
nominationLoris Guidi — représentant permanent
13/08/2025
nominationThomas WOOS — chargé de la gestion journalière
2024
Annual accounts 2024-6,9 M €↓
01/06/2024
nominationCorrect III SRL — administrateur
2023
Annual accounts 202321,9 k €↑
26/12/2023
reconductionLIBRA - AUDIT & ASSURANCE — commissaire
2022
Annual accounts 2022-258,7 k €↑
2021
Annual accounts 2021-969,8 k €↓
2020
Annual accounts 20202,4 M €↑
2019
Annual accounts 2019-6,4 M €↓
2019
Name changeChallenge Airlines (BE) S.A
2017
Annual accounts 2017-201,5 k €
24/01/2017
IncorporationPublic limited company
2017
Name changeACE Belgium Freighters

Challenge Airlines (BE) S.A

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