ACTIVE

BELGIAN AIRPORTS

Financial year 2025 · Closed on 31/12/2025

Net result10 M €+1 220,4 %over 1 year

Gross margin-37,3 k €+79,5 %over 1 year

Equity23,2 M €+75,9 %over 1 year

Identity

Source · BCE/KBO

BELGIAN AIRPORTS is a Public limited company incorporated in 2009. Its main activity is: Other personal service activities n.e.c.. Its registered office is in Charleroi.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0820.332.661
Incorporation: 05/11/2009
Legal form: Public limited company
Registered office: Rue des Fusillés 21
6040 Charleroi · Wallonie
Contributed capital: 13 050 000,00 €
Latest accounts: 31/12/2025

Activities (NACE)

96099Other personal service activities n.e.c.· main 96999Other personal service activities 64200Activities of holding companies 64210Activities of holding companies 70200Management consultancy activities 70210Public relations and communication activities+2

Signals

ProfitableSolid equityLow riskPositive cashflow

Financials

Source · NBB, 16 filings

Trend over 16 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	-37,3 k €	+79.5%	-181,7 k €	-60.8%	-113 k €	+8.8%	-123,9 k €	-94.5%	-63,7 k €
EBITDA	-39,3 k €	+78.4%	-181,7 k €	-59.4%	-114 k €	+8.6%	-124,8 k €	-93.2%	-64,6 k €
Operating result	-39,3 k €	+78.4%	-181,7 k €	-59.4%	-114 k €	+8.6%	-124,8 k €	-93.2%	-64,6 k €
Net result	10 M €	+1220%	-893,1 k €	-17.1%	-762,4 k €	-108%	-366,9 k €	-462%	-65,2 k €
Balance sheet
Equity	23,2 M €	+75.9%	13,2 M €	-6.3%	14,1 M €	-5.1%	14,8 M €	+25.3%	11,8 M €
Total assets	26,7 M €	+0.4%	26,6 M €	-0.1%	26,6 M €	-0.1%	26,6 M €	+124%	11,9 M €
Cash	160,3 k €	+203%	52,9 k €	-32.0%	77,8 k €	+50.7%	51,6 k €	-90.2%	527,8 k €
Debts	3,5 M €	-73.9%	13,4 M €	+7.0%	12,5 M €	+6.2%	11,8 M €	+17852%	65,7 k €

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Giovanni CURTOLO	Director16/03/2018 → 19/03/2027
Matteo TESTA	Director16/03/2018 → 19/03/2027
FINFLOW0891.019.531Represented by Thierry Hubert	Director04/07/2022 → 17/03/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Thierry HUBERT	Director19/03/2021 → 2023 accounts
Benoït ALLEMEERSCH	Director20/03/2020 → 2021 accounts
Bart LINTERMANS	Director15/03/2019 → 22/06/2021

Other companies at this address

Rue des Fusillés 21 6040 Charleroi

Company	CBE no.
BRUSSELS SOUTH CHARLEROI AIRPORT● Active	0444.556.344
Pilatus Eight● Active	0802.870.087
Pilatus Five● Active	0714.992.344
PILATUS FOUR● Active	0680.647.317
Pilatus Seven● Active	0794.292.121
Pilatus Six● Active	0772.674.383
Pilatus Three● Active	0655.780.772
Pilatus Twenty One● Active	0730.554.807
PILATUS TWENTY TWO● Active	0754.791.246
Sonaca Aircraft Owners Cooperative Company● Active	1027.694.412

Full financial information

Source · NBB

	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	28/03/2026	25/03/2025	26/03/2024	24/03/2023	21/04/2022	20/04/2021
General meeting	20/03/2026	21/03/2025	15/03/2024	17/03/2023	18/03/2022	19/03/2021
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

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Annual accounts filings

Source · NBB, 16 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	20/03/2026	28/03/2026	French	PDF
Abridged model	31/12/2024	21/03/2025	25/03/2025	French	PDF
Abridged model	31/12/2023	15/03/2024	26/03/2024	French	PDF
Abridged model	31/12/2022	17/03/2023	24/03/2023	French	PDF
Abridged model	31/12/2021	18/03/2022	21/04/2022	French	PDF
Abridged model	31/12/2020	19/03/2021	20/04/2021	French	PDF
Abridged model	31/12/2019	20/03/2020	08/04/2020	French	PDF
Abridged model	31/12/2018	15/03/2019	11/04/2019	French	PDF
Abridged model	31/12/2017	16/03/2018	05/06/2018	French	PDF
Abridged model	31/12/2016	17/03/2017	19/04/2017	French	PDF
Full model	31/12/2015	18/03/2016	12/04/2016	French	PDF
Full model	31/12/2014	20/03/2015	30/03/2015	French	PDF
Full model	31/12/2013	21/03/2014	26/03/2014	French	PDF
Full model	31/12/2012	15/03/2013	15/03/2013	French	PDF
Full model	31/12/2011	16/03/2012	21/03/2012	French	PDF
Full model	31/12/2010	18/03/2011	30/03/2011	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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

3 active · 8 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Giovanni CURTOLO	Director16/03/2018 → 19/03/2027
Matteo TESTA	Director16/03/2018 → 19/03/2027
FINFLOW0891.019.531Represented by Thierry Hubert	Director04/07/2022 → 17/03/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Thierry HUBERT	Director19/03/2021 → 2023 accounts
Benoït ALLEMEERSCH	Director20/03/2020 → 2021 accounts
Bart LINTERMANS	Director15/03/2019 → 22/06/2021

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates13/07/2026
DEMISSIONS, NOMINATIONS
PDF
Registered office04/03/2026
SIEGE SOCIAL
PDF
Mandates14/04/2025
DEMISSIONS, NOMINATIONS
PDF
Other01/08/2022
DIVERS
PDF
Restructuring12/07/2022
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates07/06/2022
DEMISSIONS, NOMINATIONS
PDF
Restructuring24/05/2022
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...) - DIVERS
PDF
Mandates17/05/2022
DEMISSIONS, NOMINATIONS
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings16 filings

Mandates

Matteo TESTA

Giovanni CURTOLO

FINFLOW

Thierry HUBERT

Benoït ALLEMEERSCH

Bart LINTERMANS

Enrico MARCHI

Monica SCARPA

Paolo SIMIONI

Carlos BOURGEOIS

Christophe JONLET

20092010201120122013201420152016201720182019202020212022202320242025202620272028

BELGIAN AIRPORTS

Rue des Fusillés 21, 6040 Jumet (Charleroi)Rue des Frères Wright 8, 6041 Gosselies

Director

Chairman of the board of directors

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue des Fusillés 21, 6040 Jumet (Charleroi)Current	accounts 2025	Accounts 2025 · 2026-00064769
Rue des Frères Wright 8, 6041 Gosselies	accounts 2021 → 2024	Accounts 2024 · 2025-00053196

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
BELGIAN AIRPORTSCurrent	accounts 2022 → 2025	Accounts 2025 · 2026-00064769
BELGIAN AIRPORT	accounts 2021	Accounts 2021 · 2022-20005286

Events

2025
Annual accounts 202510 M €↑
2024
Annual accounts 2024-893,1 k €↓
2023
Annual accounts 2023-762,4 k €↓
2022
Annual accounts 2022-366,9 k €↓
2022
Name changeBELGIAN AIRPORTS
2021
Annual accounts 2021-65,2 k €↓
2020
Annual accounts 2020-11,8 k €↓
2019
Annual accounts 2019-11,4 k €↑
2018
Annual accounts 2018-27,7 k €↓
2017
Annual accounts 201784,1 k €↓
2016
Annual accounts 2016143,8 k €↑
2015
Annual accounts 2015-204,3 k €↓
2014
Annual accounts 20141,4 M €↓
2013
Annual accounts 20131,5 M €↓
2012
Annual accounts 20121,7 M €↑
2011
Annual accounts 20111,6 M €↑
2010
Annual accounts 2010-4,2 k €
05/11/2009
IncorporationPublic limited company

BELGIAN AIRPORTS

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

Registered offices

Company names

Events