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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Tight liquidity NBB
Cash and receivables cover 51 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ASCO INDUSTRIES from Zaventem, company number BE0441428489, closed financial year 2025 with a result of € -1.9 million after tax. For that financial year ASCO INDUSTRIES recorded revenue of € 330.2 million and equity of € 32.5 million. Compared with financial year 2024, the result moved from € 325,595 to € -1.9 million. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 3, 2026.
€ 32.5 million
▼ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.9 million
▼ still € 325,595 profit in 2024
Profit after tax over the fiscal year.
€ 7.1 million
▼ 79% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -29.3 million.
People and assets in 2025
640.6
▲ 0.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 59.6 million
▲ 2% vs 2024
€ 93,000 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.
€ 1.1 million
▲ 36% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 88.7 million
▲ 15% vs 2024
€ 3.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 78.2 million
▲ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 104 days on average.
€ 11.5 million
▲ 6% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 235,616,831 | € 263,705,748 | € 301,001,396 | € 330,246,023 | ▲ 10% |
| Profit after taxes | € -16,877,207 | € -4,021,533 | € 325,595 | € -1,926,442 | ▼ € 2.3 million |
| Equity | € 38,136,662 | € 34,115,130 | € 34,440,724 | € 32,514,282 | ▼ 6% |
| Total debts | € 151,253,367 | € 160,640,015 | € 171,773,397 | € 191,406,998 | ▲ 11% |
| Cash | € 32,375,200 | € 31,548,707 | € 34,096,444 | € 7,061,694 | ▼ 79% |
| Land & buildings | € 662,230 | € 599,727 | € 547,276 | € 510,786 | ▼ 7% |
| Retained profit | € -23,675,810 | € -27,697,342 | € -27,371,747 | € -29,298,190 | ▼ € 1.9 million |
| Bank debt | € 63,576,044 | € 77,891,963 | € 77,383,686 | € 88,713,858 | ▲ 15% |
| Balance sheet total | € 196,931,940 | € 200,797,791 | € 212,452,321 | € 230,742,394 | ▲ 9% |
| Employees (FTE) | 666.6 | 645.5 | 640.5 | 640.6 | ▲ 0.1 |
Key figures of ASCO INDUSTRIES, 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 ASCO INDUSTRIES?
What happened at ASCO INDUSTRIES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Patrick Maurer stepped down as director. NBB
- SFPIM NV stepped down as director. NBB
- Vicky Welvaert stepped down as director. NBB
- Pragmata BV stepped down as director. NBB
- BREMOT BV stepped down as director. NBB
- Thomas Williams stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.9 million (▼ € 2.3 million vs 2024). Source: NBB ↗
- Kai Arndt stepped down as director. NBB
In short
From € 16.9 million loss in 2022 to € 1.9 million loss in 2025.
Paid € 109,380 in corporate taxes since 2022.
Best year ever: 2024, with € 325,595 profit.
Pays suppliers within 104 days on average.
Management
The shares are held by SRIF NV (79.4%) and FPIM NV (20.7%). It owns 100% of ASCO INDUSTRIES USA Inc, 100% of ASCO AEROSPACE CANADA Ltd, 100% of ASCO DEUTSCHLAND GmbH, 90% of ASCO FINANCE USA, 27.3% of FLABEL CORPORATION and 20% of BELAIRBUS itself.
Directors
According to the 2025 annual accounts
Director · represented by Christian Boas
since 2022 · until 2028
Vicky Welvaert
Director
Also active at: Attentia Corporate, VOKA - Kamer van Koophandel Vlaams-Brabant, ATTENTIA Preventie & bescherming, S.R.I.F., ASCO MANAGEMENT, IMMOBILIERE ASCO, ATTENTIA, ASCO FINANCE USA
since 2024 · until 2030
since 2026 · until 2032
since 2022 · until 2028
Michael Pistauer
Director
since 2022 · until 2026
Kai Arndt
Chairman of the board
Also active at: S.R.I.F., ASCO MANAGEMENT, IMMOBILIERE ASCO, ASCO FINANCE USA
since 2022 · until 2026
Director · represented by Denis Ronday
Also active at: Aviapartner Belgium, Société Anonyme Belge de Constructions Aéronautiques, Société Nationale de Construction Aérospatiale, COMETSAMBRE, ZEPHYR - FIN, Sabena Aerospace Engineering, reMYND, NANOCYL +58 more
since 2025 · until 2031
Thomas Williams
Director
since 2022 · until 2028
Participations
ASCO INDUSTRIES USA Inc
100%
ASCO AEROSPACE CANADA Ltd
100%
90%
27.3%
20%
16.7%
Establishments
Establishment units
Physical locations of this company
Weiveldlaan 2
1930 Zaventem
Leuvensesteenweg 520
1930 Zaventem
Active since 1 January 2008
Sterrebeekstraat 170
1930 Zaventem
Active since 1 January 2008
Sterrebeekstraat 168
1930 Zaventem
Active since 1 January 2008
Sterrebeekstraat 172
1930 Zaventem
Active since 1 January 2008
Sterrebeekstraat 172B
1930 Zaventem
Active since 1 January 2008
Vierwinden 9-15
1930 Zaventem
Active since 13 June 2017
Leuvensesteenweg 516
1930 Zaventem
Active since 9 May 2005
Leuvensesteenweg 532
1930 Zaventem
Active since 11 January 2013
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 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.
Details
- Company number
- 0441.428.489
- VAT number
- BE 0441.428.489
- Registered office
- Weiveldlaan 2, 1930 Zaventem
- Names & denominations
- ASCO INDUSTRIES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 September 1990
- Peppol
- Active · Active since 11 Dec 2025
- 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