Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
Financials
Financial year 2025
CHALLENGE HANDLING from Grâce-Hollogne, company number BE0459890856, closed financial year 2025 with a result of € 25,494 after tax. For that financial year CHALLENGE HANDLING recorded revenue of € 58.5 million and equity of € -676,043. Compared with financial year 2024, the result moved from € -1.7 million to € 25,494. Profitable, and profit is growing. 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 August 3, 2026.
€ -676,043
▲ € 773,368 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 25,494
▲ still € 1.7 million loss in 2024
Profit after tax over the fiscal year.
€ 1.7 million
▼ 42% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -2.8 million.
People and assets in 2025
571.8
▲ 30.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 37.9 million
▲ 8% vs 2024
€ 66,200 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.
€ 4 million
▼ 15% vs 2024
Of which on lease € 3.2 million.
Debts at end 2025
€ 6.6 million
▼ 15% vs 2024
€ 839,361 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 4.9 million
▼ 12% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 66 days on average.
€ 6.5 million
▼ 10% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 42,002,626 | € 46,555,481 | € 51,911,290 | € 58,549,969 | ▲ 13% |
| Profit after taxes | € -3,664,031 | € -1,433,966 | € -1,696,393 | € 25,494 | ▲ € 1.7 million |
| Equity | € 1,706,514 | € 258,462 | € -1,449,411 | € -676,043 | ▲ € 773,368 |
| Total debts | € 19,813,583 | € 20,927,436 | € 20,424,445 | € 17,977,333 | ▼ 12% |
| Cash | € 1,114,406 | € 1,694,600 | € 2,979,467 | € 1,735,855 | ▼ 42% |
| Land & buildings | € 3,760,608 | € 3,342,359 | € 3,003,179 | € 2,553,327 | ▼ 15% |
| Retained profit | € 346,435 | € -1,087,532 | € -2,783,925 | € -2,758,430 | ▲ € 25,495 |
| Bank debt | € 6,732,807 | € 8,669,837 | € 7,664,798 | € 6,552,991 | ▼ 15% |
| Balance sheet total | € 21,585,735 | € 21,245,625 | € 19,028,850 | € 17,349,196 | ▼ 9% |
| Employees (FTE) | 505 | 518 | 541 | 571.8 | ▲ 30.8 |
Key figures of CHALLENGE HANDLING, 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 CHALLENGE HANDLING?
What happened at CHALLENGE HANDLING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- DANIEL GANEM stepped down as director. NBB
- SHMUEL RAVINA stepped down as director. NBB
- YOSSI SHOUKROUN stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 25,494. filed late Source: NBB ↗
- DANIEL GANEM became a director. NBB
- SHMUEL RAVINA became a director. NBB
- YOSSI SHOUKROUN became a director. NBB
- New establishment in Grâce-Hollogne. KBO
In short
From € 3.7 million loss in 2022 to € 25,494 profit in 2025.
Paid € 867,919 in corporate taxes since 2022.
Best year ever: 2025, with € 25,494 profit.
Pays suppliers within 66 days on average.
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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 CHALLENGE AIRLINES (IL) LTD (100%).
Directors
According to the 2025 annual accounts
SHMUEL RAVINA
Director
since 2022 · until 2028
DANIEL GANEM
Director
since 2024 · until 2030
since 2022 · until 2028
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Aéroport de Liège 76
4460 Grâce-Hollogne
Aéroport de Liège sn
4460 Grâce-Hollogne
Active since 25 March 1997
Rue Sélys Longchamps(Jean de) 12 box 3&4
4460 Grâce-Hollogne
Active since 1 October 2020
Rue Saint-Exupéry 26
4460 Grâce-Hollogne
Active since 1 March 2021
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0459.890.856
- VAT number
- BE 0459.890.856
- Registered office
- Aéroport de Liège 76, 4460 Grâce-Hollogne
- Names & denominations
- CHALLENGE HANDLING
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 20 January 1997
- Peppol
- Active · Active since 13 Jan 2026
- Activities · NACE
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