Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Shrinking team NBB
FTE fell two years in a row, from 467.4 to 329.7.
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Figures corrected NBB
Corrected annual account filed for 2022.
Financials
Financial year 2025
Société Anonyme Belge de Constructions Aéronautiques from Brussel, company number BE0405770992, closed financial year 2025 with a result of € -20.8 million after tax. For that financial year Société Anonyme Belge de Constructions Aéronautiques recorded revenue of € 108 million and equity of € -38.1 million. Compared with financial year 2024, the result moved from € -17.6 million to € -20.8 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 31, 2026.
€ -38.1 million
▼ € 29.6 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -20.8 million
▼ 19 % more loss than in 2024
Profit after tax over the fiscal year.
€ 446,818
▼ 98% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -47.2 million.
People and assets in 2025
329.7
▼ 95.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 28.2 million
▼ 24% vs 2024
€ 85,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 5 million
▼ 26% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 93.7 million
▲ 10% vs 2024
€ 9 million is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 103 million
▲ 88% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 366 days on average.
€ 3.8 million
▼ 3% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 100,622,562 | € 95,911,130 | € 116,330,710 | € 107,996,994 | ▼ 7% |
| Profit after taxes | € 624,087 | € -3,462,358 | € -17,550,833 | € -20,838,863 | ▼ € 3.3 million |
| Equity | € 22,279,118 | € 18,816,761 | € -8,480,706 | € -38,114,601 | ▼ € 29.6 million |
| Total debts | € 137,682,364 | € 182,350,547 | € 237,945,371 | € 292,340,440 | ▲ 23% |
| Cash | € 2,345,401 | € 1,207,175 | € 18,367,073 | € 446,818 | ▼ 98% |
| Land & buildings | € 10,195,967 | € 9,694,362 | € 505,384 | € 436,913 | ▼ 14% |
| Retained profit | € 854,172 | € -2,608,185 | € -20,953,257 | € -47,249,749 | ▼ € 26.3 million |
| Bank debt | € 12,907,737 | € 53,177,094 | € 85,289,726 | € 93,710,458 | ▲ 10% |
| Balance sheet total | € 187,809,137 | € 207,321,295 | € 230,346,386 | € 257,473,789 | ▲ 12% |
| Employees (FTE) | 640.7 | 467.4 | 424.9 | 329.7 | ▼ 95.2 |
Key figures of Société Anonyme Belge de Constructions Aéronautiques, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Société Anonyme Belge de Constructions Aéronautiques?
What happened at Société Anonyme Belge de Constructions Aéronautiques in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Sergio CALANDRI stepped down as director. NBB
- Koenraad VAN LOO stepped down as director. NBB
- AND ONE MANAGEMENT SRL stepped down as director. NBB
- SFPIM stepped down as director. NBB
- B Global Management SRL stepped down as director. NBB
- Erik VAN OCKENBURG stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 20.8 million. Source: NBB ↗
- SFPIM became a director. NBB
In short
From € 624,087 profit in 2022 to € 20.8 million loss in 2025.
Paid € 225,626 in corporate taxes since 2022.
Best year ever: 2022, with € 624,087 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by ORIZIO S.R.L. (100%). It owns 100% of SABCA (C.D.R.) S.R.L., 100% of SABCA MAROC S.A.S., 100% of SABCA Limburg N.V., 27.3% of FLABEL CORPORATION S.A. and 16.7% of BeLightning itself.
Directors
According to the 2025 annual accounts
since 2020 · until 2030
Koenraad VAN LOO
Director
Also active at: FPIM International - SFPI Internationaal - SFPIM International, Sabena Aerospace Engineering, Thaumas, Capricorn Fusion China Fund, Euroports Group, Orizio
since 2024 · until 2030
Director · represented by Olivier HENIN
Also active at: Sabena Aerospace Engineering, Orizio, Orizio Re
since 2020 · until 2030
Director · represented by Tom FEYS
Also active at: Aviapartner Belgium, Société Nationale de Construction Aérospatiale, COMETSAMBRE, ASCO INDUSTRIES, ZEPHYR - FIN, Sabena Aerospace Engineering, reMYND, NANOCYL +57 more
since 2025 · until 2030
Tom FEYS
Director
Also active at: Sabena Aerospace Engineering, Scale-Ups.eu, Orizio, Relaunch for the Future
since 2020 · until 2025
Managing director · represented by Stéphane BURTON
Also active at: AANNEMINGSMAATSCHAPPIJ CFE, SOPARTEC, Sabena Aerospace Technologies, Sabena Engineering Brussels, Sabena Aerospace Engineering, Air Belgium, IMMO SECO, SECO GROUP +5 more
since 2020 · until 2030
Erik VAN OCKENBURG
Director
since 2024 · until 2030
Shareholders
100%
Participations
SABCA MAROC S.A.S.
100%
100%
27.3%
16.7%
Establishments
Establishment units
Physical locations of this company
Haachtsesteenweg 1470
1130 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
GOOGLE-CLOUD-PLATFORM - Google LLC, US
Website info
Features
Security
Details
- Company number
- 0405.770.992
- VAT number
- BE 0405.770.992
- Registered office
- Haachtsesteenweg 1470, 1130 Brussel
- Names & denominations
- Société Anonyme Belge de Constructions Aéronautiques · SABCA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 16 December 1920
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- sabca.be
- Activities · NACE
Vervaardiging van civiele lucht- en ruimtevaartuigen en van toestellen in verband daarmee
Vervaardiging van lucht- en ruimtevaartuigen
Vervaardiging van lucht- en ruimtevaartuigen en van toestellen in verband daarmee