ACTIVE

TRUSTED AVIATION SERVICES

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Financial year 2025 · closed on 31/12/2025

Net result

14 M €

+10.0% YoY

Revenue

39,4 M €

+14.5% YoY

Equity

46,3 M €

+43.5% YoY

What does TRUSTED AVIATION SERVICES do?

TRUSTED AVIATION SERVICES is a Private limited company incorporated in 2011. Its main activity is: Rental and leasing of air transport equipment. Its registered office is in Woluwe-Saint-Pierre.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0842.181.318

Incorporation

27/12/2011

Legal form

Private limited company

Registered office

Square des Pierres Grises 5+
1150 Woluwe-Saint-Pierre · BruxellesSee on map

Contributed capital

6 200,00 €

Latest accounts

31/12/2025

Activities (NACE)

77350Rental and leasing of air transport equipment· main 77350Rental and leasing of air transport equipment 77399Rental and leasing of other machinery, equipment and tangible goods n.e.c.77399Rental and leasing of other machinery, equipment and tangible goods n.e.c.

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

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Health score

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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
Revenue	39,4 M €	+14.5%	34,4 M €	+20.6%	28,6 M €	+151%	11,4 M €	+190%	3,9 M €		–		–		–		–		–		–		–		–		–
EBITDA	25,1 M €	+10.1%	22,8 M €	+9.5%	20,8 M €	+131%	9 M €	+234%	2,7 M €	+1210%	206,3 k €	+198%	-210,1 k €	-969%	24,2 k €	-86.7%	181,8 k €	+30.8%	139,1 k €	+16337%	846 €	+4661%	-18,6 €	+96.9%	-589 €	+80.4%	-3 k €
Operating result	19,5 M €	+7.9%	18 M €	+4.0%	17,3 M €	+128%	7,6 M €	+267%	2,1 M €	+919%	-253,5 k €	-18.0%	-214,8 k €	-1329%	17,5 k €	-90.0%	175,1 k €	+26.0%	139,1 k €	+16337%	846 €	+4661%	-18,6 €	+96.9%	-589 €	+80.4%	-3 k €
Net result	14 M €	+10.0%	12,8 M €	-1.0%	12,9 M €	+141%	5,3 M €	+212%	1,7 M €	+532%	-396,4 k €	-77.0%	-224 k €	-1927%	12,3 k €	-88.4%	105,5 k €	+22.8%	85,9 k €	+12203%	698 €	+695%	-117,3 €	+83.1%	-695 €	+76.8%	-3 k €
Balance sheet
Equity	46,3 M €	+43.5%	32,3 M €	+65.4%	19,5 M €	+194%	6,6 M €	+411%	1,3 M €	+414%	-413,7 k €	-2297%	-17,3 k €	-108%	206,7 k €	+6.3%	194,4 k €	+119%	89 k €	+2784%	3,1 k €	+29.3%	2,4 k €	-4.7%	2,5 k €	-21.7%	3,2 k €
Total assets	60,9 M €	+0.3%	60,7 M €	+17.2%	51,8 M €	+79.7%	28,8 M €	+183%	10,2 M €	+64.1%	6,2 M €	+127%	2,7 M €	+1042%	239,9 k €	-20.0%	299,8 k €	+30.4%	230 k €	+1691%	12,8 k €	-29.1%	18,1 k €	+623%	2,5 k €	-21.7%	3,2 k €
Cash	1,1 M €	-47.1%	2,1 M €	-23.2%	2,8 M €	+53.5%	1,8 M €	+248%	521,7 k €	+51.9%	343,6 k €	+87.0%	183,7 k €	+31.3%	139,9 k €	-26.6%	190,6 k €	+164%	72,3 k €	+840%	7,7 k €	-53.0%	16,4 k €	+553%	2,5 k €	-21.7%	3,2 k €
Debts	14,2 M €	-48.7%	27,8 M €	-13.5%	32,1 M €	+46.7%	21,9 M €	+146%	8,9 M €	+35.2%	6,6 M €	+138%	2,8 M €	+8207%	33,2 k €	-68.5%	105,4 k €	+59.6%	66 k €	+577%	9,8 k €	+18.8%	8,2 k €		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Laurent Jamet

Director · since 15 octobre 2024

Active

Maxime Mahieu

Director · since 23 septembre 2019

Active

Ended mandates

Caroline SASSE

Manager · since 01 juillet 2014

Ended

MAHIEU Xavier

Manager · since 27 décembre 2011

Ended

Maxime Mahieu

Manager · since 27 décembre 2011 · until 23 septembre 2019

Ended

Maxime MAHIEU

Manager · since 27 décembre 2011

Ended

At this address

Other companies at this address

Company	CBE no.
Trusted Capital● Active	0886.114.103

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full 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	23/06/2026	04/08/2025	06/08/2024	29/08/2023	27/06/2022	06/07/2021
General meeting	12/06/2026	11/07/2025	14/06/2024	09/06/2023	10/06/2022	11/06/2021
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
Full model	31/12/2025	12/06/2026	23/06/2026	French	PDF
Full model	31/12/2024	11/07/2025	04/08/2025	French	PDF
Full model	31/12/2023	14/06/2024	06/08/2024	Dutch	PDF
Full model	31/12/2022	09/06/2023	29/08/2023	Dutch	PDF
Full model	31/12/2021	10/06/2022	27/06/2022	French	PDF
Micro model	31/12/2020	11/06/2021	06/07/2021	French	PDF
Micro model	31/12/2019	12/06/2020	19/08/2020	French	PDF
Micro model	30/09/2018	08/03/2019	30/04/2019	French	PDF
Micro model	30/09/2017	09/03/2018	18/05/2018	French	PDF
Abridged model	30/09/2016	10/03/2017	28/04/2017	French	PDF
Abridged model	30/09/2015	11/03/2016	05/04/2016	French	PDF
Abridged model	30/09/2014	13/03/2015	02/04/2015	French	PDF
Abridged model	30/09/2013	14/03/2014	17/03/2014	French	PDF
Abridged model	30/09/2012	08/03/2013	18/03/2013	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 · 2 active · 4 ended

Active mandates

Laurent Jamet

Director · since 15 octobre 2024

Active

Maxime Mahieu

Director · since 23 septembre 2019

Active

Ended mandates

Caroline SASSE

Manager · since 01 juillet 2014

Ended

MAHIEU Xavier

Manager · since 27 décembre 2011

Ended

Maxime Mahieu

Manager · since 27 décembre 2011 · until 23 septembre 2019

Ended

Maxime MAHIEU

Manager · since 27 décembre 2011

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/03/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates03/10/2019
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Registered office18/06/2019
SIEGE SOCIAL
PDF
Mandates08/02/2019
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates24/12/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates11/09/2018
DENOMINATION - OBJET
PDF
Mandates04/09/2014
DEMISSIONS, NOMINATIONS
PDF
Other29/12/2011
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 202514 M €↑
2024
Annual accounts 202412,8 M €↓
15/10/2024
nominationLaurent Jamet — administrateur
09/10/2024
nominationVincent Thyrion — commissaire aux comptes
2023
Annual accounts 202312,9 M €↑
2022
Annual accounts 20225,3 M €↑
2021
Annual accounts 20211,7 M €↑
2020
Annual accounts 2020-396,4 k €↓
2019
Annual accounts 2019-224 k €↓
2018
Annual accounts 201812,3 k €↓
2017
Annual accounts 2017105,5 k €↑
2016
Annual accounts 201685,9 k €↑
2015
Annual accounts 2015698 €↑
2014
Annual accounts 2014-117,3 €↑
2013
Annual accounts 2013-695 €↑
2012
Annual accounts 2012-3 k €
27/12/2011
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

TRUSTED AVIATION SERVICES

Overview

What does TRUSTED AVIATION SERVICES 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