ACTIVE

FLEOGAN

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Financial year 2025 · closed on 31/12/2025

Net result

42,7 k €

-26.1% YoY

Gross margin

67,9 k €

-21.8% YoY

Equity

143,8 k €

+8.5% YoY

What does FLEOGAN do?

FLEOGAN is a Private limited company incorporated in 2006. Its main activity is: Service activities incidental to air transportation. Its registered office is in Zonhoven.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0880.535.910

Incorporation

31/03/2006

Legal form

Private limited company

Registered office

Heuveneindeweg 34
3520 Zonhoven · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

52230Service activities incidental to air transportation· main 52230Service activities incidental to air transportation 63230Information service activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	67,9 k €	-21.8%	86,8 k €	+8.1%	80,3 k €	+3.6%	77,5 k €	+19.2%	65 k €	+18.5%	54,9 k €	+2.0%	53,8 k €	+9.7%	49 k €	-42.0%	84,5 k €	+39.4%	60,7 k €	+3.2%	58,8 k €	+19.1%	49,4 k €	-4.0%	51,4 k €	-6.3%	54,8 k €	+56.4%	35,1 k €	+40.7%	24,9 k €	-4.8%	26,2 k €	-40.9%	44,2 k €	+387%	9,1 k €	-25.5%	12,2 k €
EBITDA	67,5 k €	-21.8%	86,3 k €	+8.6%	79,4 k €	+3.6%	76,7 k €	+18.2%	64,9 k €	+19.9%	54,2 k €	+1.7%	53,3 k €	+9.8%	48,5 k €	-42.3%	84 k €	+41.7%	59,3 k €	+4.3%	56,8 k €	+19.0%	47,7 k €	-4.5%	50 k €	-6.2%	53,3 k €	+71.0%	31,2 k €	+29.4%	24,1 k €	-2.4%	24,7 k €	-43.5%	43,7 k €	+401%	8,7 k €	-27.5%	12 k €
Operating result	64,4 k €	-21.9%	82,4 k €	+10.0%	74,9 k €	+3.3%	72,5 k €	+15.7%	62,7 k €	+20.8%	51,9 k €	+2.6%	50,5 k €	+12.3%	45 k €	-42.6%	78,4 k €	+49.9%	52,3 k €	+7.8%	48,5 k €	+19.8%	40,5 k €	-6.7%	43,4 k €	+2.6%	42,3 k €	+101%	21 k €	-2.8%	21,6 k €	-5.0%	22,7 k €	-45.6%	41,8 k €	+460%	7,5 k €	-30.3%	10,7 k €
Net result	42,7 k €	-26.1%	57,8 k €	+12.0%	51,6 k €	+4.1%	49,6 k €	+14.3%	43,4 k €	+16.9%	37,1 k €	+11.9%	33,1 k €	+12.7%	29,4 k €	-41.4%	50,2 k €	+62.3%	30,9 k €	+6.8%	28,9 k €	+38.3%	20,9 k €	-15.4%	24,7 k €	+1.0%	24,5 k €	+189%	8,5 k €	-25.3%	11,3 k €	+39.2%	8,2 k €	-64.7%	23,1 k €	+697%	2,9 k €	-56.5%	6,7 k €
Balance sheet
Equity	143,8 k €	+8.5%	132,5 k €	+20.0%	110,5 k €	+20.2%	91,9 k €	+7.9%	85,2 k €	+21.0%	70,4 k €	+19.3%	59 k €	+8.4%	54,4 k €	-1.1%	55 k €	+38.0%	39,9 k €	+89.0%	21,1 k €	-67.1%	64,2 k €	-19.0%	79,2 k €	+45.4%	54,5 k €	-16.2%	65 k €	+15.0%	56,6 k €	+6.3%	53,2 k €	+18.1%	45,1 k €	+105%	22 k €	+15.2%	19,1 k €
Total assets	226,6 k €	+13.9%	199 k €	+3.3%	192,6 k €	+12.2%	171,6 k €	+19.8%	143,2 k €	+15.3%	124,3 k €	+19.6%	103,9 k €	+4.3%	99,6 k €	-16.5%	119,3 k €	+51.2%	78,9 k €	-20.8%	99,5 k €	-1.1%	100,7 k €	-6.5%	107,7 k €	-7.1%	116 k €	-7.2%	124,9 k €	+35.6%	92,1 k €	+33.7%	68,9 k €	-10.2%	76,7 k €	+145%	31,3 k €	+34.3%	23,3 k €
Cash	196,4 k €	+15.1%	170,5 k €	+9.6%	155,7 k €	+28.4%	121,3 k €	+25.6%	96,5 k €	+34.0%	72,1 k €	+46.7%	49,1 k €	+27.1%	38,7 k €	-32.3%	57,1 k €	+569%	8,5 k €	-52.1%	17,8 k €	-30.6%	25,7 k €	+10.6%	23,2 k €	-2.8%	23,9 k €	-26.5%	32,5 k €	+10.3%	29,4 k €	+58.3%	18,6 k €	-55.3%	41,6 k €	+117%	19,2 k €	+37.8%	13,9 k €
Debts	82,8 k €	+24.5%	66,5 k €	-19.1%	82,2 k €	+3.0%	79,8 k €	+37.4%	58,1 k €	+7.7%	53,9 k €	+20.1%	44,9 k €	-0.6%	45,1 k €	-29.7%	64,3 k €	+64.7%	39 k €	-50.3%	78,4 k €	+115%	36,5 k €	+28.3%	28,5 k €	-53.7%	61,5 k €	+2.6%	59,9 k €	+68.5%	35,5 k €	+127%	15,7 k €	-50.5%	31,6 k €	+239%	9,3 k €	+120%	4,2 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Joannes Hellings

Director · since 31 mars 2006

Active

Ended mandates

Joannes Hellings

Manager · since 31 mars 2006

Ended

Joannes Hellings

Manager

Ended

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	17/07/2026	15/08/2025	21/08/2024	29/06/2023	30/08/2022	24/08/2021
General meeting	04/06/2026	05/06/2025	06/06/2024	01/06/2023	02/06/2022	03/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	04/06/2026	17/07/2026	Dutch	PDF
Micro model	31/12/2024	05/06/2025	15/08/2025	Dutch	PDF
Micro model	31/12/2023	06/06/2024	21/08/2024	Dutch	PDF
Micro model	31/12/2022	01/06/2023	29/06/2023	Dutch	PDF
Micro model	31/12/2021	02/06/2022	30/08/2022	Dutch	PDF
Micro model	31/12/2020	03/06/2021	24/08/2021	Dutch	PDF
Micro model	31/12/2019	04/06/2020	22/10/2020	Dutch	PDF
Micro model	31/12/2018	06/06/2019	22/08/2019	Dutch	PDF
Micro model	31/12/2017	07/06/2018	25/08/2018	Dutch	PDF
Micro model	31/12/2016	01/06/2017	29/08/2017	Dutch	PDF
Abridged model	31/12/2015	02/06/2016	05/10/2016	Dutch	PDF
Abridged model	31/12/2014	04/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	05/06/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	06/06/2013	28/08/2013	Dutch	PDF
Abridged model	31/12/2011	07/06/2012	31/08/2012	Dutch	PDF
Abridged model	31/12/2010	09/06/2011	29/08/2011	Dutch	PDF
Abridged model	31/12/2009	03/06/2010	27/08/2010	Dutch	PDF
Abridged model	31/12/2008	04/06/2009	31/08/2009	Dutch	PDF
Abridged model	31/12/2007	05/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	07/06/2007	30/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 1 active · 2 ended

Active mandates

Joannes Hellings

Director · since 31 mars 2006

Active

Ended mandates

Joannes Hellings

Manager · since 31 mars 2006

Ended

Joannes Hellings

Manager

Ended

Shareholders

Ownership and network

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Competition

Similar companies

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

See the Business plan

2025
Annual accounts 202542,7 k €↓
2024
Annual accounts 202457,8 k €↑
2023
Annual accounts 202351,6 k €↑
2022
Annual accounts 202249,6 k €↑
2021
Annual accounts 202143,4 k €↑
2020
Annual accounts 202037,1 k €↑
2019
Annual accounts 201933,1 k €↑
2018
Annual accounts 201829,4 k €↓
2017
Annual accounts 201750,2 k €↑
2016
Annual accounts 201630,9 k €↑
2015
Annual accounts 201528,9 k €↑
2014
Annual accounts 201420,9 k €↓
2013
Annual accounts 201324,7 k €↑
2012
Annual accounts 201224,5 k €↑
2011
Annual accounts 20118,5 k €↓
2010
Annual accounts 201011,3 k €↑
2009
Annual accounts 20098,2 k €↓
2008
Annual accounts 200823,1 k €↑
2007
Annual accounts 20072,9 k €↓
2006
Annual accounts 20066,7 k €
31/03/2006
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

FLEOGAN

Overview

What does FLEOGAN do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline