ACTIVE

TBX AVIATION

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Financial year 2025 · closed on 31/12/2025

Net result

5,4 k €

-80.1% YoY

Gross margin

14,5 k €

-68.3% YoY

Equity

77,9 k €

+7.4% YoY

What does TBX AVIATION do?

TBX AVIATION is a Private limited company incorporated in 2007. Its main activity is: Space transport. Its registered office is in Middelkerke.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0887.370.945

Incorporation

20/02/2007

Legal form

Private limited company

Registered office

Dorpsmolenstraat 21
8432 Middelkerke · FlandreSee on map

Contributed capital

18 550,00 €

Latest accounts

31/12/2025

Activities (NACE)

51220Space transport· main 51220Space transport 62300Computer programming, consultancy and related activities 52230Service activities incidental to air transportation 52230Service activities incidental to air transportation 52250Support activities for transportation+6

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	14,5 k €	-68.3%	45,7 k €	+59.0%	28,7 k €	+166%	10,8 k €	+142%	4,5 k €	-80.7%	23,1 k €	+1258%	1,7 k €	-92.5%	22,8 k €	-39.5%	37,8 k €	+120%	17,2 k €	-42.5%	29,9 k €	+19.5%	25 k €	+50.4%	16,6 k €	+16.8%	14,2 k €	+1.7%	14 k €	+29.2%	10,8 k €	+128%	4,8 k €	-69.4%	15,5 k €	+3736%	405 €
EBITDA	13,3 k €	-69.5%	43,6 k €	+58.9%	27,4 k €	+207%	8,9 k €	+181%	3,2 k €	-81.8%	17,5 k €	+451%	-5 k €	-138%	13,2 k €	-59.3%	32,5 k €	+115%	15,1 k €	-47.1%	28,5 k €	+19.7%	23,8 k €	+65.1%	14,4 k €	+24.4%	11,6 k €	-5.6%	12,3 k €	+26.2%	9,7 k €	+699%	-1,6 k €	-111%	14,5 k €	+1191%	-1,3 k €
Operating result	11,3 k €	-73.4%	42,5 k €	+81.0%	23,5 k €	+367%	5 k €	+150%	2 k €	-86.9%	15,3 k €	+463%	-4,2 k €	-137%	11,4 k €	-62.8%	30,6 k €	+140%	12,8 k €	-45.7%	23,5 k €	+52.6%	15,4 k €	+37.8%	11,2 k €	+21.7%	9,2 k €	-8.8%	10,1 k €	+22.4%	8,2 k €	+294%	-4,2 k €	-174%	5,7 k €	+156%	-10,2 k €
Net result	5,4 k €	-80.1%	27 k €	+71.3%	15,7 k €	+397%	3,2 k €	+503%	525 €	-95.3%	11,2 k €	+412%	-3,6 k €	-145%	7,9 k €	-57.3%	18,4 k €	+148%	7,4 k €	-46.5%	13,9 k €	+65.1%	8,4 k €	+58.2%	5,3 k €	+49.4%	3,6 k €	-23.5%	4,7 k €	+174%	-6,3 k €	+2.4%	-6,4 k €	-234%	4,8 k €	+147%	-10,3 k €
Balance sheet
Equity	77,9 k €	+7.4%	72,5 k €	+35.7%	53,4 k €	+41.7%	37,7 k €	-38.5%	61,3 k €	-17.1%	74 k €	+17.8%	62,8 k €	-10.3%	70 k €	+12.7%	62,1 k €	+42.2%	43,7 k €	+20.5%	36,3 k €	+62.2%	22,4 k €	+60.4%	13,9 k €	+61.8%	8,6 k €	+70.6%	5,1 k €	+1195%	390 €	-94.1%	6,7 k €	-49.1%	13,1 k €	+57.8%	8,3 k €
Total assets	104,4 k €	+19.0%	87,8 k €	+36.6%	64,3 k €	+39.4%	46,1 k €	-37.1%	73,3 k €	-9.2%	80,7 k €	+6.8%	75,6 k €	-11.4%	85,3 k €	-3.2%	88,1 k €	+49.3%	59 k €	+6.0%	55,7 k €	+44.5%	38,5 k €	+9.8%	35,1 k €	+37.8%	25,5 k €	-33.5%	38,3 k €	+47.0%	26,1 k €	-15.0%	30,7 k €	-39.1%	50,4 k €	+36.4%	36,9 k €
Cash	12,5 k €	+263%	3,4 k €	-80.8%	17,9 k €	+85.0%	9,7 k €	+130%	4,2 k €	-69.9%	14 k €	+284%	3,6 k €	+16.5%	3,1 k €		–		70 €	-99.4%	12,6 k €	+5488%	226 €	-85.4%	1,5 k €	+1698%	86 €	-98.6%	6,1 k €	-29.2%	8,6 k €	-18.8%	10,5 k €	-49.4%	20,8 k €	+214%	6,6 k €
Debts	26,5 k €	+73.8%	15,3 k €	+40.7%	10,9 k €	+29.0%	8,4 k €	-30.0%	12 k €	+78.4%	6,7 k €	-47.3%	12,8 k €	-16.4%	15,3 k €	-41.2%	26 k €	+69.8%	15,3 k €	-21.1%	19,4 k €	+20.0%	16,2 k €	-23.6%	21,2 k €	+25.5%	16,9 k €	-48.9%	33 k €	+28.7%	25,7 k €	+9.3%	23,5 k €	-18.5%	28,8 k €	+0.6%	28,6 k €

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 · 3 ended

Active mandates

Tina BOECKX

Director · since 17 mars 2022

Active

Ended mandates

Tina Boeckx

Director · since 20 février 2007

Ended

Tina Boeckx

Manager · since 20 février 2007

Ended

Tina Boeckx

Director

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	12/03/2026	06/03/2025	16/02/2024	28/04/2023	28/06/2022	28/08/2021
General meeting	11/03/2026	05/03/2025	15/02/2024	28/04/2023	27/06/2022	31/07/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	11/03/2026	12/03/2026	Dutch	PDF
Micro model	31/12/2024	05/03/2025	06/03/2025	Dutch	PDF
Micro model	31/12/2023	15/02/2024	16/02/2024	Dutch	PDF
Micro model	31/12/2022	28/04/2023	28/04/2023	Dutch	PDF
Micro model	31/12/2021	27/06/2022	28/06/2022	Dutch	PDF
Micro model	31/12/2020	31/07/2021	28/08/2021	Dutch	PDF
Micro model	31/12/2019	10/08/2020	28/08/2020	Dutch	PDF
Micro model	31/12/2018	22/06/2019	31/08/2019	Dutch	PDF
Micro model	31/12/2017	23/06/2018	29/08/2018	Dutch	PDF
Micro model	31/12/2016	24/06/2017	24/08/2017	Dutch	PDF
Abridged model	31/12/2015	25/06/2016	29/08/2016	Dutch	PDF
Abridged model	31/12/2014	27/06/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	28/06/2014	21/08/2014	Dutch	PDF
Abridged model	31/12/2012	22/06/2013	25/09/2013	Dutch	PDF
Abridged model	31/12/2011	23/06/2012	30/08/2012	Dutch	PDF
Abridged model	31/12/2010	25/06/2011	25/08/2011	Dutch	PDF
Abridged model	31/12/2009	26/06/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	27/06/2009	08/07/2009	Dutch	PDF
Abridged model	31/12/2007	28/06/2008	29/08/2008	Dutch	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 · 3 ended

Active mandates

Tina BOECKX

Director · since 17 mars 2022

Active

Ended mandates

Tina Boeckx

Director · since 20 février 2007

Ended

Tina Boeckx

Manager · since 20 février 2007

Ended

Tina Boeckx

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other08/05/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DOEL
PDF
Registered office10/03/2025
MAATSCHAPPELIJKE ZETEL
PDF
Registered office06/07/2023
MAATSCHAPPELIJKE ZETEL
PDF
Mandates11/04/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office20/06/2012
MAATSCHAPPELIJKE ZETEL
PDF
Capital / shares01/08/2007
DIVERSEN - KAPITAAL - AANDELEN
PDF
Other28/02/2007
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 20255,4 k €↓
2024
Annual accounts 202427 k €↑
2023
Annual accounts 202315,7 k €↑
2022
Annual accounts 20223,2 k €↑
2021
Annual accounts 2021525 €↓
2020
Annual accounts 202011,2 k €↑
2019
Annual accounts 2019-3,6 k €↓
2018
Annual accounts 20187,9 k €↓
2017
Annual accounts 201718,4 k €↑
2016
Annual accounts 20167,4 k €↓
2015
Annual accounts 201513,9 k €↑
2014
Annual accounts 20148,4 k €↑
2013
Annual accounts 20135,3 k €↑
2012
Annual accounts 20123,6 k €↓
2011
Annual accounts 20114,7 k €↑
2010
Annual accounts 2010-6,3 k €↑
2009
Annual accounts 2009-6,4 k €↓
2008
Annual accounts 20084,8 k €↑
2007
Annual accounts 2007-10,3 k €
20/02/2007
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

TBX AVIATION

Overview

What does TBX AVIATION do?

Trend over 19 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

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline