FlyerCo II
ActiveSummary
FlyerCo II has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.62M and a net result of €-9k. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 45 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2021
Profitability37▼-18
Solvency100▲+19
Growth54=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280k at 30 days acceptable
short-term debt: 0.4% and cash: 0% of total assets, and 0.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 53
Relative position
BE, all sectors
reference
Postal and courier activities (NACE 53)
about 277% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
99.6%
Return on assets
-0.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-09-2026, 42 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
42 d late
2024
76 d late
2023
421 d late
2022
723 d late
2021
47 d late
2020
1 d early
2019
6 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€24.71M▲ 10.4%
2020 · €22.38M
2018: €31.49Mhighest in 4 years
2019: €30.06M▼ -4.6% vs 2018
2020: €22.38M▼ -25.5% vs 2019lowest in 4 years
2021: €24.71M▲ +10.4% vs 2020
2018 → 2021
EBIT margin
1.6%▲ 1.6pp
2020 · 0.0%
2018: 1.8%
2019: 2.9%▲ +58.3% vs 2018highest in 4 years
2020: 0.0%▼ -99.3% vs 2019lowest in 4 years
2021: 1.6%▲ +7334% vs 2020
2018 → 2021
Net result
€-9k
2021 · €373k
2018: €-26klowest value
2019: €846k▲ +3391% vs 2018highest value
2020: €225k▼ -73.4% vs 2019
2021: €373k▲ +65.7% vs 2020
2025: €-9k
2018 → 2025
Working capital
€4.62M▲ 51.5%
2021 · €3.05M
2018: €1.06Mlowest value
2019: €1.90M▲ +80.1% vs 2018
2020: €2.68M▲ +40.7% vs 2019
2021: €3.05M▲ +13.9% vs 2020
2025: €4.62Mhighest value
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212025Trend
Turnover€31.49M-€30.06M▼ 4.6%€22.38M▼ 25.5%€24.71M▲ 10.4%
2018: €31.49Mhighest in 4 years
2019: €30.06M▼ -4.6% vs 2018
2020: €22.38M▼ -25.5% vs 2019lowest in 4 years
2021: €24.71M▲ +10.4% vs 2020
Equity€1.61M-€2.45M▲ 52.7%€2.68M▲ 9.2%€3.05M▲ 13.9%€4.62M▲ 51.5%
2018: €1.61Mlowest value
2019: €2.45M▲ +52.7% vs 2018
2020: €2.68M▲ +9.2% vs 2019
2021: €3.05M▲ +13.9% vs 2020
2025: €4.62Mhighest value
Operating result€580k-€877k▲ 51.1%€5k▼ 99.5%€392k▲ 8,109%€-9k
2018: €580k
2019: €877k▲ +51.1% vs 2018highest value
2020: €5k▼ -99.5% vs 2019
2021: €392k▲ +8109% vs 2020
2025: €-9klowest value
Net result€-26k-€846k€225k▼ 73.4%€373k▲ 65.7%€-9k
2018: €-26klowest value
2019: €846k▲ +3391% vs 2018highest value
2020: €225k▼ -73.4% vs 2019
2021: €373k▲ +65.7% vs 2020
2025: €-9k
Result per fiscal year
Operating resultNet result
The operating result is €-9k in 2025, compared with €392k in 2021. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2021 as the grey bar beneath
Equity and liabilities €4.64M
Equity
€4.62M ▲ 51.5%
Debt
€17k ▼ 99.3%
Debt's share of the balance-sheet total falls from 44.4% to 0.4%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.00▼
2021 · 0.80
ROE
-0.2%▼
2021 · 12.2%
ROA
-0.2%▼
2021 · 6.8%
Debt ≤ 1 year
€17k▼
2021 · €2.43M
Income taxes
€119▼
2021 · €129k
A ratio outside any meaningful range has been withheld (balance sheet total €4.64M, equity €4.62M).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2021 · 49 lines
Balance sheet
Code20212025
Assets
Total assets20/58€5.48M€4.64M▼
Current assets29/58€5.48M€4.64M▼
Amounts receivable within one year40/41€5.35M€4.64M▼
Trade receivables40€5.33M-
Other amounts receivable41€16k€4.64M▲
Cash at bank and in hand54/58€134k€93▼
Equity and liabilities
Total equity and liabilities10/49€5.48M€4.64M▼
Equity10/15€3.05M€4.62M▲
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€2.98M€4.55M▲
Amounts payable17/49€2.43M€17k▼
Amounts payable within one year42/48€2.43M€17k▼
Trade debts44€1.44M€16k▼
Suppliers440/4€1.44M€16k▼
Taxes, remuneration and social security45€223k€320▼
Taxes450/3€160k€320▼
Remuneration and social security454/9€63k-
Other amounts payable47/48€771k-
Income statement
Code20212025
Operating income70/76A€24.74M-
Turnover70€24.71M-
Other operating income74€28k-
Operating charges60/66A€24.35M-
Services and other goods61€23.83M-
Remuneration, social security and pensions62€244k-
Other operating charges640/8€2k€558▼
Non-recurring operating charges66A€275k-
Gross operating margin9900-€-8k
Operating profit (loss)9901€392k€-9k▼
Financial income75/76B€134k-
Recurring financial income75€134k-
Income from current assets751€134k-
Financial charges65/66B€24k€721▼
Recurring financial charges65€24k€721▼
Debt charges650€22k-
Other financial charges652/9€2k-
Profit (loss) for the period before taxes9903€502k€-9k▼
Income taxes67/77€129k€119▼
Taxes670/3€135k-
Tax adjustments and reversals of tax provisions77€6k-
Profit (loss) for the period9904€373k€-9k▼
Profit (loss) for the period to be appropriated9905€373k€-9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2.98M€4.55M▲
Profit (loss) brought forward from the previous period14P€2.61M€4.56M▲
Social balance
Average headcount (FTE)90872.0-
The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €24.74M | - | - |
| Turnover70 | €31.49M | €30.06M | €22.38M | €24.71M | - | - |
| Other operating income74 | - | - | - | €28k | - | - |
| Operating charges60/66A | - | - | - | €24.35M | - | - |
| Services and other goods61 | - | - | - | €23.83M | - | - |
| Remuneration, social security and pensions62 | - | - | - | €244k | - | - |
| Other operating charges640/8 | - | - | - | €2k | €558 | - |
| Non-recurring operating charges66A | - | - | - | €275k | - | - |
| Gross operating margin9900 | - | - | - | - | €-8k | - |
| Operating profit (loss)9901 | €580k | €877k | €5k | €392k | €-9k | - |
| Financial income75/76B | - | - | - | €134k | - | - |
| Recurring financial income75 | €15k | €75k | €95k | €134k | - | - |
| Income from current assets751 | - | - | - | €134k | - | - |
| Financial charges65/66B | - | - | - | €24k | €721 | - |
| Recurring financial charges65 | €156k | €1k | €9k | €24k | €721 | - |
| Debt charges650 | €155k | - | €9k | €22k | - | - |
| Other financial charges652/9 | - | - | - | €2k | - | - |
| Profit (loss) for the period before taxes9903 | €440k | €950k | €317k | €502k | €-9k | - |
| Income taxes67/77 | €466k | €104k | €92k | €129k | €119 | - |
| Taxes670/3 | - | - | - | €135k | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €6k | - | - |
| Profit (loss) for the period9904 | €-26k | €846k | €225k | €373k | €-9k | - |
| Profit (loss) for the period to be appropriated9905 | €-26k | €846k | €225k | €373k | €-9k | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.23M | €4.38M | €5.29M | €5.48M | €4.64M | - |
| Fixed assets21/28 | €550k | €550k | - | - | - | - |
| Financial fixed assets28 | €550k | €550k | - | - | - | - |
| Current assets29/58 | €3.68M | €3.83M | €5.29M | €5.48M | €4.64M | - |
| Amounts receivable within one year40/41 | €2.91M | €2.98M | €5.05M | €5.35M | €4.64M | - |
| Trade receivables40 | - | - | - | €5.33M | - | - |
| Other amounts receivable41 | - | - | - | €16k | €4.64M | - |
| Cash at bank and in hand54/58 | €778k | €848k | €234k | €134k | €93 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.23M | €4.38M | €5.29M | €5.48M | €4.64M | - |
| Equity10/15 | €1.61M | €2.45M | €2.68M | €3.05M | €4.62M | - |
| Contributions10/11 | €63k | €63k | €63k | €63k | €63k | - |
| Capital10 | - | - | - | €63k | €63k | - |
| Issued capital100 | - | - | - | €63k | €63k | - |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | - |
| Non-distributable reserves130/1 | - | - | - | €6k | €6k | - |
| Legal reserve130 | - | - | - | €6k | €6k | - |
| Profit (loss) carried forward14 | €1.54M | €2.38M | €2.61M | €2.98M | €4.55M | - |
| Amounts payable17/49 | €2.63M | €1.92M | €2.61M | €2.43M | €17k | - |
| Amounts payable within one year42/48 | €2.63M | €1.92M | €2.61M | €2.43M | €17k | - |
| Trade debts44 | €1.73M | €1.10M | €1.54M | €1.44M | €16k | - |
| Suppliers440/4 | - | - | - | €1.44M | €16k | - |
| Taxes, remuneration and social security45 | - | - | - | €223k | €320 | - |
| Taxes450/3 | - | - | - | €160k | €320 | - |
| Remuneration and social security454/9 | - | - | - | €63k | - | - |
| Other amounts payable47/48 | - | - | - | €771k | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-26k | €846k | €225k | €373k | €-9k | - |
| Operating cash flow (approximation) | €-26k | €846k | €225k | €373k | €-9k | - |
| Investment in fixed assets (approximation) | - | €0 | - | - | - | - |
| Change in cash | - | €70k | €-614k | €-100k | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-09
State Gazette act
Appointments: EY Bedrijfsrevisoren (statutory auditor) and LUMA (director)3 facts ▸
State Gazette act
Appointments: EY Bedrijfsrevisoren (statutory auditor) and LUMA (director)
3 facts ▸
- General meeting, 11-09-2026
- Auditor appointment, EY Bedrijfsrevisoren (statutory auditor)
- Director appointment, LUMA (director)
11-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 42 days late
27-08
State Gazette act
RestructuringPermanent representatives: Rafaël Lambrix and Martijn Koster · Merger · Accounting effect15 facts ▸
State Gazette act
Restructuring
Permanent representatives: Rafaël Lambrix and Martijn Koster · Merger · Accounting effect15 facts ▸
- Board meeting, 14-08-2026
- Board meeting, 14-08-2026
- Merger, FlyerCo Holding
- Board composition, LUMA CommV. (director)
- Permanent representative, Rafaël Lambrix
- Board composition, NPM CAPITAL NV (director)
- Permanent representative, Martijn Koster
- Board composition, LUMA CommV. (director)
- Permanent representative, Rafaël Lambrix
- Board composition, NPM CAPITAL NV (director)
- Accounting effect, 30-09-2026
- Kbo correction, Ernst en Young Bedrijfsrevisoren is incorrectely listed as bestuurder in the KBO; it is actually commissaire, confirmed by publication of 12.12.2024
- +3 further facts in this act
2025
31-12
Financial
Liquidity times 124current ratio 279.09
Current ratio from 2.25 to 279.09; short-term debt falls from €2.43M to €17k.
15-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 76 days late
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 421 days late
23-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 723 days late
2022
16-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 47 days late
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
06-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 6 days late
2019
31-12
Financial
Back to profitnet €846k
Net result €846k after one loss-making year.
31-12
Financial
Equity above €2MEq €2.45M ▲52.7%
Equity rises from €1.61M to €2.45M.
Show earlier events
09-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 40 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 17 acts read
About the unread acts
Of the 17 Belgian State Gazette acts we know for this company, 2 have been read. The other 15 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
1 director, last change in 2026
LUMA
CurrentDirector · since 15-09-2026 · Limited partnership · perm. rep.: Raf Lambrix
15-09-2026
Appointed as Director
Not every act has been read: a resignation may be missing here
15 of this company's 17 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Bornem · 1 establishment unit since 2020
Ground area
2.9 ha
Building footprint
2.7 ha
Volume, LiDAR
159,083 m³
Parcel 12007C0210/00W000, Flanders · tallest building 17.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Bornem
since 20202.311.224.146
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12007C0210/00W000 | Flanders | 2.9 ha | 1 · 2.7 ha | 17.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| Ernst et Young Reviseurs d'EntreprisesCurrent Statutory auditor · represented by Eef NAESSENS | 15-09-2026 → present |
Articles of association
Purpose
De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, rechtstreeks of onrechtstreeks, voor eigen rekening of voor rekening van derden, alleen of in…
Full purpose
De vennootschap heeft tot voorwerp, zowel in België als in het buitenland, rechtstreeks of onrechtstreeks, voor eigen rekening of voor rekening van derden, alleen of in samenwerking met derden: de verspreiding van alle drukwerken en publiciteitsonderwerpen (met inbegrip van, maar niet beperkt tot, folders, samples en deurhangers) op alle mogelijke distributiemanieren en volgens de wijze die haar het meest geschikt lijkt. Daartoe kan de vennootschap samenwerken met, deelnemen in, of op gelijk welke wijze, rechtstreeks of onrechtstreeks, belangen nemen in andere vennootschappen, verenigingen of ondernemingen. De vennootschap kan alle vormen van intellectuele eigendomsrechten die rechtstreeks of onrechtstreeks in verband staan met haar activiteiten registreren, aanwenden, aankopen, verwerven of overdragen en kan onderzoeksactiviteiten ondernemen. De vennootschap kan eender welk roerend of onroerend, materieel of immaterieel, goed verwerven, huren, verhuren, vervaardigen, beheren, overdragen of ruilen. Zij kan alle onroerende activiteiten in eender welke wettige vorm uitoefenen, met inbegrip van de aankoop, verkoop, het verhuren en huren van onroerend goed. De vennootschap kan leningen van eender welke vorm, duur of bedrag toestaan. Zij kan zowel tot waarborg van eigen verbintenissen als tot waarborg van verbintenissen van derden borg stellen, onder meer door garanties te verstrekken en door haar goederen in hypotheek of in pand te geven, inclusief de eigen handelszaak. De vennootschap kan de functies van bestuurder, zaakvoerder of vereffenaar waarnemen in vennootschappen en verenigingen. Zij kan toezicht en controle uitoefenen over deze vennootschappen en verenigingen en hen adviseren over de optimalisatie van bedrijfsprocessen, operationeel management, interne organisatie en dergelijke meer. De vennootschap kan in het algemeen alle commerciële, industriële, financiële, roerende of onroerende handelingen verrichten in rechtstreeks of onrechtstreeks verband met haar voorwerp of die van aard zouden zijn de verwezenlijking ervan geheel of ten dele te vergemakkelijken.
Structure & network
Acquisitions and mergers
1 transactionTaken over by:FlyerCo Holding
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Of 4,906 companies in sector 53200 we hold annual accounts for 1,322. 91 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded23-03-2016
Fiscal year end31-12
Activities, NACEBEL 2025
53200Other postal and courier activities
52250Logistics services
Contact
E-mail
julie.storckel@bdmyshopi.comBornem
Phone
0476801399Bornem
Scores and ratios are computed by Checked and are not a credit decision.