ACTIVE

COURANT D'AIR

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Financial year 2025 · closed on 31/12/2025

Net result

173,3 k €

+17.4% YoY

Gross margin

896,4 k €

-0.9% YoY

Equity

10 M €

+26.0% YoY

Workforce

4,1 ETP

-18.0% YoY

What does COURANT D'AIR do?

COURANT D'AIR is a Cooperative society incorporated in 2009. Its registered office is in Bütgenbach. It employs on average 4,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0822.180.314

Incorporation

23/12/2009

Legal form

Cooperative society

Registered office

Elsenborn,Unter den Linden 5/E1
4750 Bütgenbach · WallonieSee on map

Contributed capital

8 719 250,00 €

Latest accounts

31/12/2025

Average workforce

4,1 ETP

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	896,4 k €	-0.9%	904,3 k €	-23.7%	1,2 M €	-17.6%	1,4 M €	+31.0%	1,1 M €	-8.2%	1,2 M €	+0.5%	1,2 M €	+10.1%	1,1 M €	+21.3%	891,3 k €	+3.7%	859,9 k €	-2.8%	884,7 k €	+13.9%	776,9 k €	-2.3%	795,1 k €	+11.7%	711,7 k €	+291%	181,8 k €	+727%	-29 k €
EBITDA	539,1 k €	+6.5%	506,2 k €	-38.5%	823,2 k €	-26.5%	1,1 M €	+44.7%	774,1 k €	-13.9%	899,5 k €	+1.5%	886,6 k €	+15.5%	767,9 k €	+27.8%	600,9 k €	-5.3%	634,5 k €	-15.3%	749 k €	+4.3%	717,8 k €	-2.2%	734,3 k €	+8.8%	674,6 k €	+274%	180,4 k €	+644%	-33,2 k €
Operating result	-177,2 k €	-1.7%	-174,3 k €	-219%	146,7 k €	-63.2%	398,1 k €	+139%	166,4 k €	-43.5%	294,5 k €	+3.9%	283,3 k €	+54.2%	183,7 k €	+164%	69,6 k €	-44.8%	126,3 k €	-53.9%	274 k €	+12.2%	244,3 k €	-6.7%	261,8 k €	-14.7%	306,8 k €	+146%	125 k €	+477%	-33,2 k €
Net result	173,3 k €	+17.4%	147,7 k €	-63.2%	400,9 k €	-31.3%	583,5 k €	+86.9%	312,3 k €	+31.2%	237,9 k €	-35.6%	369,5 k €	+69.1%	218,5 k €	+51.7%	144,1 k €	-14.6%	168,6 k €	-17.8%	205,3 k €	+3.5%	198,2 k €	+6.1%	186,9 k €	-11.2%	210,5 k €	+211%	67,7 k €	+309%	-32,4 k €
Balance sheet
Equity	10 M €	+26.0%	7,9 M €	+3.1%	7,7 M €	+3.7%	7,4 M €	+13.5%	6,5 M €	+7.5%	6,1 M €	+0.9%	6 M €	+19.9%	5 M €	+1.3%	5 M €	+2.2%	4,8 M €	+19.2%	4,1 M €	+16.1%	3,5 M €	+8.6%	3,2 M €	+9.9%	2,9 M €	+41.2%	2,1 M €	+373%	439 k €
Total assets	13,5 M €	+13.0%	11,9 M €	+1.4%	11,8 M €	-0.1%	11,8 M €	+10.9%	10,6 M €	+15.7%	9,2 M €	-3.6%	9,5 M €	+15.0%	8,3 M €	+0.1%	8,3 M €	+2.4%	8,1 M €	-4.2%	8,4 M €	+11.2%	7,6 M €	-0.6%	7,6 M €	-14.6%	8,9 M €	+56.1%	5,7 M €	+363%	1,2 M €
Cash	1,1 M €	+126%	475,3 k €	-37.8%	764,5 k €	-6.4%	817,2 k €	+93.8%	421,6 k €	-3.5%	436,9 k €	-17.7%	530,8 k €	-10.5%	593 k €	+10.3%	537,6 k €	-6.8%	577 k €	-2.5%	591,9 k €	-52.6%	1,2 M €	+26.9%	984 k €	+32.9%	740,3 k €	+155%	290,1 k €	-28.0%	403,1 k €
Debts	2,8 M €	-16.9%	3,3 M €	-5.1%	3,5 M €	-9.0%	3,8 M €	+4.2%	3,7 M €	+34.8%	2,7 M €	-13.8%	3,2 M €	+6.4%	3 M €	-3.2%	3,1 M €	+1.9%	3 M €	-25.8%	4,1 M €	+3.2%	3,9 M €	-8.2%	4,3 M €	-27.3%	5,9 M €	+63.4%	3,6 M €	+357%	791,5 k €
Other
Workforce	4,1 ETP	-18.0%	5,0 ETP	+4.2%	4,8 ETP	+9.1%	4,4 ETP	-8.3%	4,8 ETP	+20.0%	4,0 ETP	+5.3%	3,8 ETP	-13.6%	4,4 ETP	+4.8%	4,2 ETP	+27.3%	3,3 ETP	+94.1%	1,7 ETP	+325%	0,4 ETP	+100%	0,2 ETP	+100%	0,1 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 7 active · 11 ended

Active mandates

Marc LEGRAS

Director · since 26 avril 2024

Active

Michèle DETHIER

Director · since 26 avril 2024

Active

Catharina KELLER

Director · since 23 janvier 2024

Active

Mario FICKERS

Director · since 23 janvier 2024

Active

Bernard PORTOIS

Director · since 24 avril 2015

Active

Achim LANGER

Managing director · since 23 décembre 2009

Active

Mario HEUKEMES

Chairman of the board of directors · since 23 décembre 2009

Active

Ended mandates

Bernard PORTOIS

Director · since 23 janvier 2024

Ended

Cahtarina KELLER

Director · since 23 janvier 2024

Ended

Marc LEGRAS

Director · since 28 avril 2023 · until 23 janvier 2024

Ended

Andrea JOST

Director · since 30 avril 2020

Ended

At this address

Other companies at this address

Company	CBE no.
WINDRÄDER AMEL-BÜLLINGEN● Active	1035.739.472
WINDRÄDER HEPSCHEIDER HEIDE● Active	1035.739.076
WINDRÄDER HONSFELDER VENN● Active	1035.739.670

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	21/05/2026	23/05/2025	22/05/2024	10/05/2023	25/05/2022	25/05/2021
General meeting	24/04/2026	25/04/2025	26/04/2024	27/04/2023	29/04/2022	29/04/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	24/04/2026	21/05/2026	German	PDF
Abridged model	31/12/2024	25/04/2025	23/05/2025	German	PDF
Abridged model	31/12/2023	26/04/2024	22/05/2024	German	PDF
Abridged model	31/12/2022	27/04/2023	10/05/2023	German	PDF
Abridged model	31/12/2021	29/04/2022	25/05/2022	German	PDF
Abridged model	31/12/2020	29/04/2021	25/05/2021	German	PDF
Abridged model	31/12/2019	25/04/2020	12/06/2020	German	PDF
Abridged model	31/12/2018	25/04/2019	23/05/2019	German	PDF
Abridged model	31/12/2017	20/04/2018	17/08/2018	German	PDF
Abridged model	31/12/2016	27/04/2017	06/07/2017	German	PDF
Abridged model	31/12/2015	22/04/2016	26/05/2016	German	PDF
Abridged model	31/12/2014	24/04/2015	21/05/2015	German	PDF
Abridged model	31/12/2013	25/04/2014	30/04/2014	German	PDF
Abridged model	31/12/2012	27/04/2013	22/05/2013	German	PDF
Abridged model	31/12/2011	21/04/2012	07/05/2012	French	PDF
Abridged model	31/12/2010	28/04/2011	05/05/2011	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 7 active · 11 ended

Active mandates

Marc LEGRAS

Director · since 26 avril 2024

Active

Michèle DETHIER

Director · since 26 avril 2024

Active

Catharina KELLER

Director · since 23 janvier 2024

Active

Mario FICKERS

Director · since 23 janvier 2024

Active

Bernard PORTOIS

Director · since 24 avril 2015

Active

Achim LANGER

Managing director · since 23 décembre 2009

Active

Mario HEUKEMES

Chairman of the board of directors · since 23 décembre 2009

Active

Ended mandates

Bernard PORTOIS

Director · since 23 janvier 2024

Ended

Cahtarina KELLER

Director · since 23 janvier 2024

Ended

Marc LEGRAS

Director · since 28 avril 2023 · until 23 janvier 2024

Ended

Andrea JOST

Director · since 30 avril 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/01/2025
ENTLASSUNG - ERNENNUNG
PDF
Mandates10/06/2024
ENTLASSUNG - ERNENNUNG
PDF
Mandates15/03/2024
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates24/11/2023
ENTLASSUNG - ERNENNUNG
PDF
Mandates09/12/2022
ENTLASSUNG - ERNENNUNG
PDF
Mandates10/03/2021
ENTLASSUNG - ERNENNUNG
PDF
Mandates11/04/2016
ENTLASSUNG - ERNENNUNG
PDF
Mandates02/01/2015
ENTLASSUNG - ERNENNUNG
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 2025173,3 k €↑
2024
Annual accounts 2024147,7 k €↓
2023
Annual accounts 2023400,9 k €↓
2022
Annual accounts 2022583,5 k €↑
2021
Annual accounts 2021312,3 k €↑
2020
Annual accounts 2020237,9 k €↓
2019
Annual accounts 2019369,5 k €↑
2018
Annual accounts 2018218,5 k €↑
2017
Annual accounts 2017144,1 k €↓
2016
Annual accounts 2016168,6 k €↓
2015
Annual accounts 2015205,3 k €↑
2014
Annual accounts 2014198,2 k €↑
2013
Annual accounts 2013186,9 k €↓
2012
Annual accounts 2012210,5 k €↑
2011
Annual accounts 201167,7 k €↑
2010
Annual accounts 2010-32,4 k €
23/12/2009
IncorporationCooperative society

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

COURANT D'AIR

Overview

What does COURANT D'AIR do?

Trend over 16 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