Equity
€9.0m from €81.2m in 2011
Equity fell by 89% in 13 years.
Aviapartner Holding
Lifetime
18 annual accounts with figures on one time axis, 38 filings since 1987Turnoverpeak €44.0m (2024)
€44.0m▲ 13.1%
Resultlowest -€99.9m (2008)
-€2.9m▼ €58,549
Equitypeak €81.2m (2011)
€9.0m▼ 24.5%
Debts
€164.3m▲ 42.9%
Staffpeak 33.2 FTE (2011)
-not published
Board6 names since 2015
1 directorLys Conseil SRL
Owners
Documentsfilings and deeds
09-12-2025131 days late
2024financial year
Turnover from €38.9m to €44.0mLoss of €2.9mEquity from €11.9m to €9.0mDebts from €115.0m to €164.3mInvestments €11.4m
Key points
from the 2024 annual accountsLosses
-€5.8m in two years
The 2023 and 2024 financial years closed with a loss. 2024 was the heaviest.
Debts
€164.3m 93% of the balance sheet
Financial debts 10%Suppliers 12%Other 78%
Of this, €148.8m falls due within a year.
Payment terms
171 days to suppliers
Aviapartner Holding pays its suppliers 31 days earlier than in 2023. Customers pay 15 days later.
Filings
38 annual accounts 45 filings, 97 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
Subsidiaries
-€15.5m
Subsidiary with negative equity. AVIAPARTNER BV · 1 other subsidiary too.
Checked score
53
Fair
Financially stronger than 15% of large companies in head offices and management consultancy (NACE 70)
Probability in this band: 1.5% to 4.2%
A confirmed filing finding caps the score at 59.
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 204 companies (NACE 70, large).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
01-2026: 0.3%
02-2026: 0.3%● unchanged vs 01-2026lowest value
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.4%▲ +0.1 percentage points vs 05-2026
07-2026: 0.4%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.2 percentage points vs 07-2026
09-2026: 0.7%▲ +0.1 percentage points vs 08-2026
10-2026: 0.9%▲ +0.2 percentage points vs 09-2026highest value
11-2026: 0.9%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: a confirmed filing finding
Figures for financial year 2024 (filed on 11-12-2025)
Liquidity: current ratio 0.61, cash €2.9m
lowers risk
Size: turnover €44.0m, total assets €175.8m
Founded in 1987
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, large). It does better than 6% of them on solvency, 2% on liquidity, 18% on profitability and 32% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 102 companies had the same profile as Aviapartner Holding has now. Each dot is one company, two years later.
97.1%
were still trading
1.0%
stopped another way
2.0%
went bankrupt
That fits the bankruptcy probability of Aviapartner Holding itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 102 companies, not a prediction for Aviapartner Holding. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €470,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance
Liquidity is insufficient, with a current ratio of 0.61 (0.55 in 2023), below 1. Short-term debt is 84.6% and cash 1.7% of total assets. 94.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Eight signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€2.9m
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 4583 sector peers (2024).
NBB · sector comparisonPosition among 4583 sector peers
Solvency
better than 12%
← weakest
strongest →
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 97 days later.
NBB · 10 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline05-11-2026 today
raises risk · 2024 accounts filed 131 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-12-2025, 131 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
131 days late
2023
138 days late
2022
74 days late
2021
26 days early
2020
146 days late
2019
311 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 129 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (1)
Board and ownership
LC
Lys Conseil SRL
Managing director, Laurent Levaux
RI
RSM INTERAUDIT SRL
Auditor, Laurent Van der Linden
- Aviapartner Group SA consolidatesannual accounts 2008
Shares in 13 companies, including AVIAPARTNER and AVIAPARTNER BV
Board & ownershipRecent changes
1 director appointed, 2 reappointments
Appointment: Lys Conseil SRL · Permanent representative: Laurent Levaux · Reappointments: Lys Conseil SRL (managing director) and Richard Prince (day-to-day manager) · General meeting of 30-07-2026 · Gazette deed
Capital decrease of €12,000,000 to €76,578,743.50
Capital from €88,578,743.50 to €76,578,743.50 · General meeting of 04-06-2026 · Gazette deed
Appointment: RSM SRL InterAudit (statutory auditor)
General meeting of 13-01-2026 · Gazette deed
Capital decrease of €18,000,000 to €88,578,743.50
Capital from €106,578,743.50 to €88,578,743.50 · General meeting of 18-12-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| Aviapartner Holding Zaventem | €44.0m | 1.9% | 5.1% | - |
| AERTSSEN GROUP Stabroek | €30.0m | 12.7% | 50.7% | 104.5 |
| Moore Belgium Brussels | €46.7m | 9.0% | 32.0% | 90 |
| BDO BELGIUM Zaventem | €45.8m | 7.9% | 12.6% | 129.1 |
| WATERLEAU GROUP Haacht | €70.7m | -4.1% | 28.8% | 109.5 |
| SIHOLD Ardooie | €16.9m | 13.0% | 85.8% | 71.8 |
| PARTENA BUSINESS SOLUTIONS Brussels | €93.9m | 0.4% | 15.1% | 452.3 |
Grey: the largest companies of the sector (head offices and management consultancy (NACE 70)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Aviapartner Holding: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €89m and €246m, founded between 1969 and 2003.
Official details
Source: KBO- Status
- Active since 10-11-1987Normal situation
- Registered office
- 71 active companies are registered at this addressSource: KBO register, as of 5 November 2026.
- Activity
- Business and other management consultancyNACE 70200and 1 other
- Establishment unit
- 2.031.484.9551930 Zaventem, since 10-11-1987
- Financial year end
- 31 December
- Peppol
- Reachable since 18-12-2025
Companies linked to Aviapartner Holding
Subsidiaries and holdings
Insights on Aviapartner Holding
Aviapartner Holding has existed since 1987. Turnover grew from €6.4m in 2007 to €44.0m in 2024.
Turnover has grown every year since 2020.
In October 2026, the Official Gazette published the appointment of Lys Conseil SRL as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Aviapartner Holding
- What is the company number of Aviapartner Holding?
- The company number of Aviapartner Holding is 0432.388.386. The VAT number is the same number with BE in front: BE 0432.388.386.
- Where is Aviapartner Holding based?
- The registered office is at Luchthaven Brussel Nationaal ZN, 1930 Zaventem.Company details
- What does Aviapartner Holding do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of Aviapartner Holding?
- Aviapartner Holding is a public limited company (NV).
- When was Aviapartner Holding founded?
- Aviapartner Holding was founded on 10-11-1987.
- Is Aviapartner Holding still active?
- Yes, Aviapartner Holding is an active enterprise in the KBO register.
- What is the turnover of Aviapartner Holding?
- The turnover of Aviapartner Holding was €44.0m in financial year 2024, according to the filed annual accounts.Financials
- Is Aviapartner Holding profitable?
- In financial year 2024, Aviapartner Holding made a loss of €2.9m.
- Where can I find the annual accounts of Aviapartner Holding?
- Aviapartner Holding filed 45 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
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