ACTIVE

BEL Air Cargo

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Financial year 2025 · Closed on 31/12/2025

Net result2,4 M €+30,1 %over 1 year
Revenue345,8 M €+4,2 %over 1 year
Equity4,4 M €+120,3 %over 1 year
Workforce5,0 ETP-5,7 %over 1 year

Identity

Source · BCE/KBO

BEL Air Cargo is a Private limited company incorporated in 2021. Its main activity is: Agents specialised in the sale of other particular products. Its registered office is in Grâce-Hollogne. It employs on average 5,0 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0774.771.464
Incorporation
29/09/2021
Legal form
Private limited company
Registered office
Rue de l'Aéroport 101
4460 Grâce-Hollogne · WallonieSee on map
Contributed capital
1 650 000,00 €
Latest accounts
31/12/2025
Average workforce
5,0 ETP
Joint committees (1)
  • 31502
Contacts
2 public details availableLog in to view
Signals
ProfitablePositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 4 filings

Trend over 4 financial years

2025202420232022
Income statement
Revenue345,8 M €331,8 M €295,6 M €279 M €
EBITDA9,3 M €143,3 k €439,1 k €-279 k €
Operating result9,3 M €715,6 k €-435,2 k €-279 k €
Net result2,4 M €1,8 M €-4,5 M €3 M €
Balance sheet
Equity4,4 M €2 M €-1,4 M €3,2 M €
Total assets56,4 M €63,1 M €63,8 M €214 M €
Cash31,2 M €15 M €8,2 M €14,1 M €
Debts47,8 M €60,8 M €63 M €210,8 M €
Other
Workforce5,0 ETP5,3 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

2 active · 2 ended

Active mandates

Michael Carème

Director · since 26 février 2024

Active
Colin Grant

Director · since 29 septembre 2021

Active

Ended mandates

Bernard Gustin

Director · since 29 septembre 2021 · until 26 février 2024

Ended
Bernard Gustin

Director · since 29 septembre 2021

Ended

Other companies at this address

Rue de l'Aéroport 101 4460 Grâce-Hollogne
CompanyCBE no.
ASL Airlines Belgium● Active
0466.467.258
ASLB-BACB● Active
1038.097.958

Full financial information

Source · NBB
2025202420232022
Type of accountFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202329/09/2021
Closing of the financial year31/12/202531/12/202431/12/202331/12/2022
Length of the financial year12 months12 months12 months16 months
Filing date23/07/202602/06/202515/07/202415/06/2023
General meeting20/07/202608/05/202528/06/202408/06/2023
Currency of the financial yearEUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 4 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202520/07/202623/07/2026FrenchPDF
Full model31/12/202408/05/202502/06/2025FrenchPDF
Full model31/12/202328/06/202415/07/2024FrenchPDF
Full model31/12/202208/06/202315/06/2023FrenchPDF

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

2 active · 2 ended

Active mandates

Michael Carème

Director · since 26 février 2024

Active
Colin Grant

Director · since 29 septembre 2021

Active

Ended mandates

Bernard Gustin

Director · since 29 septembre 2021 · until 26 février 2024

Ended
Bernard Gustin

Director · since 29 septembre 2021

Ended

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates21/01/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Capital / shares27/12/2024
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - CAPITAL, ACTIONS
    PDF
  • Mandates10/05/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates22/06/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Other01/10/2021
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 20252,4 M €↑
  2. 08/05/2025
    nominationKPMG Réviseurs d'Entreprises BV/SRL — commissaire
  3. 2024
    Annual accounts 20241,8 M €↑
  4. 20/12/2024
    augmentation_capital
  5. 26/02/2024
    nominationMichael Carême — administrateur
  6. 2023
    Annual accounts 2023-4,5 M €↓
  7. 29/03/2023
    nominationKPMG Réviseurs d'Entreprises SCRL civile — commissaire
  8. 29/03/2023
    nominationThierry Schoofs — représentant permanent
  9. 2022
    Annual accounts 20223 M €
  10. 29/09/2021
    IncorporationPrivate limited company