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.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 15 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
FLYEUROP from Liège, company number BE0719819776, closed financial year 2025 with a result of € -186,425 after tax. For that financial year FLYEUROP recorded a gross margin of € -40,145 and equity of € -162,840. Compared with financial year 2024, the result moved from € -229,433 to € -186,425. 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 11, 2026.
€ -162,840
▼ € 186,425 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -186,425
▲ 19 % less loss than in 2024
Profit after tax over the fiscal year.
€ 70,158
▲ 46% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.1 million.
People and assets in 2025
€ 42,678
▼ 3% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 672,458
▼ 11% vs 2024
Of which on lease € 672,458.
Debts at end 2025
€ 537,236
▼ 17% vs 2024
€ 121,561 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 10,106
▼ 61% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 5,668
▲ 98% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -3,019 | € -71,368 | € -79,457 | € -40,145 | ▲ € 39,312 |
| Profit after taxes | € -163,298 | € -227,640 | € -229,433 | € -186,425 | ▲ € 43,009 |
| Equity | € 162,658 | € -64,982 | € 23,585 | € -162,840 | ▼ € 186,425 |
| Total debts | € 885,343 | € 954,461 | € 831,713 | € 945,919 | ▲ 14% |
| Cash | € 82,891 | € 4,434 | € 47,964 | € 70,158 | ▲ 46% |
| Retained profit | € -469,342 | € -696,982 | € -926,415 | € -1,112,840 | ▼ € 186,425 |
| Bank debt | € 868,021 | € 760,331 | € 650,095 | € 537,236 | ▼ 17% |
| Balance sheet total | € 1,048,001 | € 889,479 | € 855,298 | € 783,080 | ▼ 8% |
Key figures of FLYEUROP, 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 FLYEUROP?
What happened at FLYEUROP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- David MAERTENS stepped down as director. NBB
- CHEYENNE SRL stepped down as director. NBB
- Marc PICARD stepped down as director. NBB
- CHENICLEM SA stepped down as director. NBB
- Stephan MAERTENS stepped down as director. NBB
- INVEST 1 stepped down as director. NBB
- André SCHERPENBERGS stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 186,425. Source: NBB ↗
In short
From € 163,298 loss in 2022 to € 186,425 loss in 2025.
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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 stake of INVEST 1 comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
FLYEUROPThe shares are held by INVEST 1 (19.4%).
Directors
According to the 2025 annual accounts
· until 2024
· until 2030
Director · represented by Xavier Antoine BOURLARD
since 2024 · until 2030
Marc PICARD
Director
since 2024 · until 2030
Director · represented by Stéphan MAERTENS
· until 2024
Director · represented by Bernard JOLLY
Also active at: Compagnie Het Zoute, COMPAGNIE HET ZOUTE REAL ESTATE, COMPAGNIE HET ZOUTE - RESERVE, NOMAINVEST, ROYAL ZOUTE GOLF CLUB, SPRIMO HOLDING, ZOUTE PROMOTIONS KORTRIJK, Zoute Promotions +3 more
since 2021 · until 2030
Director · represented by Emmanuel RIGO
· until 2024
KIELEN
Director · represented by Marc PICARD
· until 2024
Director · represented by Roger GEHLEN
Also active at: UNIMMO, GEHLEN IMMO, ETABLISSEMENTS PAULY - ANDRIANNE, COVEBAT, G-Bois, COMBLAIN MOTORS, ROGER GEHLEN, SERBI +27 more
since 2021 · until 2024
since 2024 · until 2030
Director · represented by Geoffrey HENRY
since 2021 · until 2024
· until 2024
Director · represented by Stéphane DAUVISTER
Also active at: AMECAM, CARGO LIFTING, IMMOFIDES, VAN CONVERSION, DL PROJECT, DLG IMMO, BRONROMME, LOUVETERIE +17 more
· until 2024
Director · represented by Vincent FONZE
Also active at: Scandia Namur – Luxembourg, NORDICAR, SAGA Huy, INVEST 3, MOBICORE, INVEST4CARS, ELECTRIC CAR COMPANY, MOBICARE +1 more
since 2021 · until 2030
André SCHERPENBERGS
Director
· until 2030
Shareholders
19.4%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue Henri-Vieuxtemps 8
4000 Liège
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.
Details
- Company number
- 0719.819.776
- VAT number
- BE 0719.819.776
- Registered office
- Rue Henri-Vieuxtemps 8, 4000 Liège
- Names & denominations
- FLYEUROP
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 5 February 2019
- Peppol
- Active · Active since 9 Jan 2026
- Activities · NACE
Personenvervoer door de lucht
Verhuur en lease van luchtvaartuigen