Air Belgium
The computed 12-month bankruptcy probability of Air Belgium is 1.2% (low). The 2025 annual accounts show negative equity (€-22.13M) and a net result of €-22.19M. The company has been active since 2025 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €-22.13M |
| Net result | €-22.19M |
| Staff (FTE) | 114.1 |
| Active | 1 yrs |
Fragile profile, watch health in particular.
Computed on 4 of 5 axes. Not measured: growth. An unmeasured axis is not a zero: no data was read for it.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
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See plans →| Fiscal year | 2025 |
|---|---|
| Revenue | €94.17M |
| EBITDA | €-20.97M |
| Net profit | €-22.19M |
| Cash flow | €-21.82M |
| Staff costs | €10.01M |
| Income taxes | - |
| Dividends | - |
| Total assets | €33.94M |
| Equity | €-22.13M |
| Debt | €48.08M |
| of which ≤ 1y | €33.31M |
| of which > 1y | €1.90M |
| Working capital | €-4.79M |
| Employees (FTE) | 114.1 |
| 2025 | |
|---|---|
| Current ratio | 0.86 |
| Quick ratio | 0.86 |
| Working capital ratio | -14.1% |
| Solvency | -65.2% |
| Debt / equity | -2.17 |
| Long-term debt ratio | -0.09 |
| Interest coverage | -89.79 |
| Gross margin | 5.0% |
| Net margin | -23.6% |
| ROA | -65.4% |
| ROE | 100.3% |
| EBITDA margin | -22.3% |
| Days sales outstanding | 92d |
| Days payable outstanding | 81d |
| Inventory turnover | - |
| Days inventory (DSI) | 0d |
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €33.94M |
| Fixed assets | 21/28 | €5.41M |
| Intangible fixed assets | 21 | €138k |
| Tangible fixed assets | 22/27 | €880k |
| Financial fixed assets | 28 | €4.39M |
| Current assets | 29/58 | €28.53M |
| Stocks & contracts in progress | 3 | €0 |
| Amounts receivable within one year | 40/41 | €23.87M |
| Cash & bank | 54/58 | €1.35M |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €33.94M |
| Equity | 10/15 | €-22.13M |
| Contributions / capital | 10/11 | €62k |
| Accumulated profits (losses) | 14 | €-22.19M |
| Provisions & deferred taxes | 16 | €7.99M |
| Amounts payable | 17/49 | €48.08M |
| Amounts payable after one year | 17 | €1.90M |
| Amounts payable within one year | 42/48 | €33.31M |
| Trade debts payable within one year | 44 | €19.81M |
| Income statement | ||
| Turnover | 70 | €94.17M |
| Operating result | 9901 | €-21.34M |
| Financial income | 75 | €1.82M |
| Financial charges | 65 | €2.67M |
| Result before taxes | 9903 | €-22.19M |
| Net result for the period | 9904 | €-22.19M |
| Result to be appropriated | 9905 | €-22.19M |
-
Current01-10-2025 → present
| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| Forvis Mazars Réviseurs d’EntreprisesCurrent Statutory auditor · represented by François Collie |
- | 08-12-2025 → present |
| NACE primary | 51210 |
| Legal form | Public limited company(014) |
| Incorporation | 20-03-2025 |
| Status | Active |
| Postal code | 1435 |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
08-12-2025 Registered office moved within Mont-Saint-Guibert
- Rue Emile Francqui 2, 1435 Mont-Saint-Guibert → Rue André Dumont 12, 1435 Mont-Saint-Guibert
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "statutaire",
"new_address": {
"city": "Mont-Saint-Guibert",
"region": "Waals",
"street": "Rue Andr\u00E9 Dumont",
"country": "BE",
"postcode": "1435",
"box_number": null,
"street_number": "12"
},
"old_address": {
"city": "Mont-Saint-Guibert",
"region": "Waals",
"street": "Rue Emile Francqui",
"country": "BE",
"postcode": "1435",
"box_number": null,
"street_number": "2"
},
"effective_date": "2025-12-01",
"evidence_quote": "L\u0027administrateur unique d\u00E9cide de transf\u00E9rer le si\u00E8ge de la Soci\u00E9t\u00E9 \u00E0 compter du 1er d\u00E9cembre 2025 de Rue Emile Francqui 2, 1435 Mont-Saint-Guibert, vers l\u0027adresse suivante: Rue Andr\u00E9 Dumont 12, 1435 Mont-Saint-Guibert."
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "1021.263.708",
"name_full": "AIR BELGIUM",
"legal_form": "SA"
}
}08-12-2025 François Collie appointed as statutory auditor
- François Collie, Commissaris
Technical details
{
"events": [
{
"kind": "commissaris_in",
"role": "commissaris",
"person": {
"rrn": null,
"name": "Fran\u00E7ois Collie",
"address": null,
"birth_date": null
},
"via_org": {
"kbo": "0428837889",
"name": "SRL Mazars R\u00E9viseurs d\u0027Entreprises",
"address": null,
"country": null,
"legal_form": null
},
"evidence_quote": "L\u0027actionnaire unique approuve.la nomination en tant que commissaire de la Soci\u00E9t\u00E9, de la SRL Mazars R\u00E9viseurs d\u0027Entreprises (ayant son si\u00E8ge \u00E0 Avenue du Boulevard 21, Bo\u00EEte 8, 1210 Saint-Josse-ten-Noode, enregistr\u00E9e aupr\u00E8s de la Banque-Carrefour des Entreprises sous le num\u00E9ro 0428.837.889)."
}
],
"schema": "v3.2",
"act_meta": {
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"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "1021.263.708",
"name_full": "AIR BELGIUM",
"legal_form": "SA"
}
}06-11-2025 Georges CHACHATI appointed as daily management
- Georges CHACHATI, Dagelijks bestuur
Technical details
{
"events": [
{
"kind": "director_in",
"role": "dagelijks_bestuur",
"person": {
"rrn": null,
"name": "Georges CHACHATI",
"address": null,
"birth_date": null
},
"effective_date": "2025-10-01",
"evidence_quote": "De d\u00E9signer M. Georges CHACHATI [...] en qualit\u00E9 de d\u00E9l\u00E9gu\u00E9 \u00E0 la gestion journali\u00E8re de la Soci\u00E9t\u00E9, ceci avec le droit d\u0027agir seul. La pr\u00E9sente d\u00E9signation prend effet \u00E0 compter du 1er octobre 2025"
}
],
"schema": "v3.2",
"act_meta": {
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},
"subject_company": {
"kbo": "1021.263.708",
"name_full": "AIR BELGIUM",
"legal_form": "SA"
}
}28-04-2025 Articles of association amended
Technical details
{
"schema": "v3.2",
"act_meta": {
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"extractor": "constrained-core-35b"
},
"statute_change": {
"name_change": true,
"seat_change": false,
"object_change": false,
"effective_date": "2025-04-23",
"legal_form_change": false
},
"bedrijfsrevisor": null,
"subject_company": {
"kbo": "1021.263.708",
"name_full": "SOAR INVESTMENT BELGIUM",
"legal_form": "SA"
},
"signature_regime": null,
"special_mandates": [],
"governance_change": {
"admin_delegated_added": []
}
}24-03-2025 Incorporation of a new SNC
Technical details
{
"kind": "oprichting",
"seat": "Rue Emile Francqui 2, 1435 Mont-Saint-Guibert",
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"founders": [
{
"org": {
"kbo": "1020.968.550",
"name": "CMA CGM AIR CARGO HOLDING"
},
"kind": "rechtspersoon",
"person": null,
"share_class": "Ordinary",
"partner_role": null,
"holder_org_kbo": "1020.968.550",
"holder_org_name": "CMA CGM AIR CARGO HOLDING",
"contribution_type": "cash",
"amount_paid_in_eur": 61500,
"holder_person_name": null,
"is_subscriber_only": true,
"n_shares_subscribed": 6150,
"amount_subscribed_eur": 61500,
"is_anonymous_silent_partner": false
}
],
"capital_eur": 61500,
"subject_company": {
"kbo": "1021.263.708",
"name_full": "SOAR Investment Belgium",
"legal_form": "SNC"
},
"initial_directors": [],
"incorporation_date": "2025-03-19",
"post_incorporation_mandates": []
}Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
| Legal nameFR | Air Belgium |