ACTIVE

ETHYS N'KO

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Financial year 2025 · closed on 31/12/2025

Net result

9,4 k €

-51.6% YoY

Gross margin

25,6 k €

-28.8% YoY

Equity

144,6 k €

+7.0% YoY

What does ETHYS N'KO do?

ETHYS N'KO is a Private limited company incorporated in 2010. Its main activity is: Freight air transport. Its registered office is in Woluwe-Saint-Lambert.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0828.084.149

Incorporation

27/07/2010

Legal form

Private limited company

Registered office

Avenue Marcel Thiry 16 box 20
1200 Woluwe-Saint-Lambert · BruxellesSee on map

Contributed capital

18 550,00 €

Latest accounts

31/12/2025

Activities (NACE)

51210Freight air transport· main 51210Freight air transport

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	25,6 k €	-28.8%	36 k €	-24.4%	47,6 k €	-1.1%	48,2 k €	-22.4%	62,1 k €	+78.2%	34,8 k €	-33.0%	51,9 k €	+192%	17,8 k €	+113%	8,3 k €	-59.8%	20,7 k €	-0.1%	20,7 k €	+1142%	-2 k €	-163%	3,2 k €	-75.5%	12,9 k €
EBITDA	23,5 k €	-27.2%	32,2 k €	-27.2%	44,2 k €	-3.7%	45,9 k €	-16.7%	55,2 k €	+63.6%	33,7 k €	-34.6%	51,5 k €	+196%	17,4 k €	+125%	7,8 k €	-61.5%	20,2 k €	+0.1%	20,1 k €	+857%	-2,7 k €	-209%	2,4 k €	+144%	-5,6 k €
Operating result	16,6 k €	-34.5%	25,3 k €	+8.8%	23,3 k €	-6.7%	24,9 k €	-48.2%	48,2 k €	+80.2%	26,7 k €	+32.9%	20,1 k €	+16.6%	17,2 k €	+128%	7,6 k €	-62.1%	20 k €	+0.4%	19,9 k €	+764%	-3 k €	-231%	2,3 k €	+140%	-5,8 k €
Net result	9,4 k €	-51.6%	19,4 k €	+41.7%	13,7 k €	-3.7%	14,2 k €	-59.2%	34,8 k €	+88.0%	18,5 k €	+32.1%	14 k €	+1.6%	13,8 k €	+101%	6,9 k €	-62.9%	18,5 k €	-7.0%	19,9 k €	+755%	-3 k €	-229%	2,4 k €	+145%	-5,2 k €
Balance sheet
Equity	144,6 k €	+7.0%	135,2 k €	+16.8%	115,8 k €	+13.4%	102,1 k €	+16.2%	87,8 k €	+65.8%	53 k €	+53.8%	34,4 k €	+68.8%	20,4 k €	+210%	6,6 k €	+2264%	-304 €	+98.4%	-18,9 k €	+51.4%	-38,8 k €	-8.5%	-35,8 k €	+6.2%	-38,1 k €
Total assets	349,2 k €	+28.6%	271,5 k €	-29.2%	383,2 k €	+25.7%	304,8 k €	-13.1%	351 k €	-13.1%	404 k €	+41.2%	286 k €	+66.3%	172 k €	+173%	63,1 k €	-10.8%	70,8 k €	+127%	31,2 k €	+10.0%	28,4 k €	+9.6%	25,9 k €	+6.1%	24,4 k €
Cash	108,2 k €	-30.7%	156,2 k €	+32.1%	118,3 k €	-17.3%	142,9 k €	-14.0%	166,3 k €	+32.8%	125,3 k €	-5.5%	132,6 k €	+46.7%	90,4 k €	+85.3%	48,8 k €	+6.2%	45,9 k €	+59.1%	28,9 k €	+15.3%	25 k €	+5.2%	23,8 k €	+8.2%	22 k €
Debts	204,7 k €	+50.2%	136,3 k €	-49.0%	267,4 k €	+31.9%	202,8 k €	-22.9%	263,2 k €	-25.0%	351 k €	+39.5%	251,6 k €	+65.9%	151,6 k €	+168%	56,5 k €	-20.5%	71,1 k €	+41.9%	50,1 k €	-25.5%	67,2 k €	+9.0%	61,7 k €	-1.4%	62,5 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		0,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active

Active mandates

Véronique AFUMBA KALONDO

Manager · since 27 juillet 2010

Active

At this address

Other companies at this address

Company	CBE no.
Association des copropriétaires de la Résidence NEERVELD sise à Woluwe-Saint-Lambert, avenue Marcel Thiry 16● Active	0830.034.443
AUTOMAK● Active	0865.957.897
ELISE VERSTRAETEN● Active	0793.448.320
Euro-Bel-RDCongo● Active	0874.122.131
HENRYA● Active	0801.461.312
NIRETA● Active	0774.268.549
PH. THISSE CONSEIL● Active	0449.304.196
RFI Worx● Active	0840.734.236

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	10/08/2026	17/08/2025	30/08/2024	30/08/2023	27/08/2022	30/08/2021
General meeting	25/06/2026	26/06/2025	27/06/2024	30/06/2023	30/06/2022	30/06/2021
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

14 filings with the NBB

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

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 1 active

Active mandates

Véronique AFUMBA KALONDO

Manager · since 27 juillet 2010

Active

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DIVERS - DEMISSIONS, NOMINATIONS
PDF
Registered office07/12/2018
SIEGE SOCIAL
PDF
Mandates30/05/2014
DEMISSIONS, NOMINATIONS
PDF
Registered office16/10/2012
SIEGE SOCIAL
PDF
Mandates13/10/2010
DEMISSIONS, NOMINATIONS
PDF
Other29/07/2010
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 20259,4 k €↓
2024
Annual accounts 202419,4 k €↑
2023
Annual accounts 202313,7 k €↓
2022
Annual accounts 202214,2 k €↓
2021
Annual accounts 202134,8 k €↑
2020
Annual accounts 202018,5 k €↑
2019
Annual accounts 201914 k €↑
2018
Annual accounts 201813,8 k €↑
2017
Annual accounts 20176,9 k €↓
2016
Annual accounts 201618,5 k €↓
2015
Annual accounts 201519,9 k €↑
2014
Annual accounts 2014-3 k €↓
2013
Annual accounts 20132,4 k €↑
2012
Annual accounts 2012-5,2 k €
27/07/2010
IncorporationPrivate limited company

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

ETHYS N'KO

Overview

What does ETHYS N'KO do?

Trend over 14 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