BLUE FLIGHT
ActiveSummary
BLUE FLIGHT has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €125,120 and a net result of €25,736. Equity is growing by ~18.1% per year across the filed fiscal years. Its solvency ranks better than 46% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▲+6
Solvency76▲+12
Growth85=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity short (current ratio 0.39 against 0.03 in 2024; short-term debt: 4.1% and cash: 0.4% of total assets), and 49% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
51%
Return on assets
10.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
21 d late
2023
27 d late
2022
15 d late
2021
77 d late
2020
84 d late
2019
30 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 40 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 24 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€45,585▲ 25.8%
2019 · €36,230
EBIT margin
14.6%▲ 68.1pp
2019 · -53.5%
Net result
€25,736▲ 70.3%
2024 · €15,108
Working capital
-€6,183▲ 25.4%
2024 · -€8,290
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€2,766€23,518€20,159▼ 14.3%€16,937▼ 16.0%€27,418▲ 61.9%
Net result-€4,692below the sector's middle half€21,591within the sector's middle half€19,418within the sector's middle half▼ 10.1%€15,108within the sector's middle half▼ 22.2%€25,736within the sector's middle half▲ 70.3%
EBIT margin
Equity€43,267within the sector's middle half▼ 9.8%€64,858within the sector's middle half▲ 49.9%€84,276within the sector's middle half▲ 29.9%€99,384within the sector's middle half▲ 17.9%€125,120within the sector's middle half▲ 25.9%
Total assets€293,306within the sector's middle half▼ 6.2%€279,888within the sector's middle half▼ 4.6%€269,765within the sector's middle half▼ 3.6%€255,930within the sector's middle half▼ 5.1%€245,387within the sector's middle half▼ 4.1%
Debt€250,039▼ 5.6%€215,030▼ 14.0%€185,489▼ 13.7%€156,546▼ 15.6%€120,267▼ 23.2%
Working capital-€8,039below the sector's middle half▲ 19.9%€2,964within the sector's middle half€12,226within the sector's middle half▲ 312%-€8,290below the sector's middle half-€6,183below the sector's middle half▲ 25.4%
Solvency14.8%below the sector's middle half▼ 0.6pp23.2%below the sector's middle half▲ 8.4pp31.2%within the sector's middle half▲ 8.1pp38.8%within the sector's middle half▲ 7.6pp51.0%within the sector's middle half▲ 12.2pp
Current ratio0.54below the sector's middle half▲ 0.011.29within the sector's middle half▲ 0.762.46within the sector's middle half▲ 1.170.03below the sector's middle half▼ 2.440.39below the sector's middle half▲ 0.36
Return on assets (ROA)-1.6%below the sector's middle half▼ 3.1pp7.7%within the sector's middle half▲ 9.3pp7.2%within the sector's middle half▼ 0.5pp5.9%within the sector's middle half▼ 1.3pp10.5%within the sector's middle half▲ 4.6pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 62% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €245,387
Fixed assets
€241,430 ▼ 5.6%
Current assets
€3,957 ▲ 1,542%
Equity and liabilities €245,387
Equity
€125,120 ▲ 25.9%
Debt
€120,267 ▼ 23.2%
Debt's share of the balance-sheet total falls from 61.2% to 49.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€46,317▲
2024 · €35,432
Cash flow
€44,635▲
2024 · €33,603
Debt to equity
0.96▼
2024 · 1.58
ROE
20.6%▲
2024 · 15.2%
Interest coverage
27.54▲
2024 · 19.37
Debt ≤ 1 year
€10,140▲
2024 · €8,531
Debt > 1 year
€108,847▼
2024 · €146,735
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,370 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,504 | €17,604 | €17,637 | €18,495 | €18,899 | ▲ 2.2% |
| Other operating charges640/8 | €2,284 | €1,077 | €471 | €574 | €2,372 | ▲ 313% |
| Gross operating margin9900 | €17,023 | €42,199 | €38,267 | €36,006 | €48,689 | ▲ 35.2% |
| Operating profit (loss)9901 | -€2,766 | €23,518 | €20,159 | €16,937 | €27,418 | ▲ 61.9% |
| Financial income75/76B | - | €19 | €1,904 | - | - | - |
| Recurring financial income75 | - | €19 | €1,904 | - | - | - |
| Financial charges65/66B | €1,927 | €1,946 | €2,645 | €1,829 | €1,682 | ▼ 8.0% |
| Recurring financial charges65 | €1,927 | €1,946 | €2,645 | €1,829 | €1,682 | ▼ 8.0% |
| Profit (loss) for the period before taxes9903 | -€4,692 | €21,591 | €19,418 | €15,108 | €25,736 | ▲ 70.3% |
| Profit (loss) for the period9904 | -€4,692 | €21,591 | €19,418 | €15,108 | €25,736 | ▲ 70.3% |
| Profit (loss) for the period to be appropriated9905 | -€4,692 | €21,591 | €19,418 | €15,108 | €25,736 | ▲ 70.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €293,306 | €279,888 | €269,765 | €255,930 | €245,387 | ▼ 4.1% |
| Fixed assets21/28 | €284,032 | €266,827 | €249,190 | €255,689 | €241,430 | ▼ 5.6% |
| Tangible fixed assets22/27 | €284,032 | €266,827 | €249,190 | €255,689 | €241,430 | ▼ 5.6% |
| Land and buildings22 | €283,336 | €266,074 | €248,812 | €255,571 | €241,346 | ▼ 5.6% |
| Plant, machinery and equipment23 | €231 | €115 | - | - | - | - |
| Furniture and vehicles24 | €465 | €638 | €378 | €118 | €84 | ▼ 28.8% |
| Current assets29/58 | €9,274 | €13,061 | €20,575 | €241 | €3,957 | ▲ 1,542% |
| Amounts receivable within one year40/41 | €8,166 | €9,824 | €18,238 | €3 | €3,013 | ▲ 100,333% |
| Trade receivables40 | €8,163 | €9,821 | €18,235 | - | €3,010 | - |
| Other amounts receivable41 | €3 | €3 | €3 | €3 | €3 | = |
| Cash at bank and in hand54/58 | €676 | €2,805 | €2,337 | €238 | €944 | ▲ 297% |
| Deferred charges and accrued income490/1 | €432 | €432 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €293,306 | €279,888 | €269,765 | €255,930 | €245,387 | ▼ 4.1% |
| Equity10/15 | €43,267 | €64,858 | €84,276 | €99,384 | €125,120 | ▲ 25.9% |
| Contributions10/11 | €17,700 | €17,700 | €17,700 | €17,700 | €17,700 | = |
| Revaluation surpluses12 | €121,092 | €116,124 | €111,156 | €106,188 | €101,220 | ▼ 4.7% |
| Reserves13 | €29,808 | €34,776 | €39,744 | €44,712 | €49,680 | ▲ 11.1% |
| Distributable reserves133 | €29,808 | €34,776 | €39,744 | €44,712 | €49,680 | ▲ 11.1% |
| Profit (loss) carried forward14 | -€125,333 | -€103,742 | -€84,324 | -€69,216 | -€43,480 | ▲ 37.2% |
| Amounts payable17/49 | €250,039 | €215,030 | €185,489 | €156,546 | €120,267 | ▼ 23.2% |
| Amounts payable after more than one year17 | €232,726 | €204,933 | €177,140 | €146,735 | €108,847 | ▼ 25.8% |
| Financial debts170/4 | €88,627 | €80,932 | €73,703 | €65,719 | €57,584 | ▼ 12.4% |
| Other amounts payable178/9 | €144,099 | €124,001 | €103,437 | €81,016 | €51,263 | ▼ 36.7% |
| Amounts payable within one year42/48 | €17,312 | €10,097 | €8,349 | €8,531 | €10,140 | ▲ 18.9% |
| Current portion of amounts payable after more than one year42 | €9,448 | €9,589 | €7,838 | €7,985 | €8,134 | ▲ 1.9% |
| Financial debts43 | €2 | - | - | - | - | - |
| Credit institutions430/8 | €2 | - | - | - | - | - |
| Trade debts44 | €5,665 | €152 | €155 | €190 | €1,779 | ▲ 836% |
| Suppliers440/4 | €5,665 | €152 | €155 | €190 | €1,779 | ▲ 836% |
| Other amounts payable47/48 | €2,196 | €356 | €356 | €356 | €227 | ▼ 36.2% |
| Accrued charges and deferred income492/3 | - | - | - | €1,280 | €1,280 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,692 | €21,591 | €19,418 | €15,108 | €25,736 | ▲ 70.3% |
| + Depreciation and write-downs630 | €17,504 | €17,604 | €17,637 | €18,495 | €18,899 | ▲ 2.2% |
| Operating cash flow (approximation) | €12,812 | €39,195 | €37,055 | €33,603 | €44,635 | ▲ 32.8% |
| Investment in fixed assets (approximation) | - | -€399 | €0 | -€24,994 | -€4,640 | ▲ 81.4% |
| Change in cash | - | €2,129 | -€468 | -€2,099 | €706 | ▲ 134% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Highest result since 2018net €25,736 ▲70.3%
Operating result €27,418, net result €25,736, both a record.
31-12
Financial
Equity above €100,000Eq €125,120 ▲25.9%
4 profitable years in a row build equity to €125,120.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
15-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 15 days late
2022
31-12
Financial
Back to profitnet €21,591
Net result €21,591 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.29
Current ratio from 0.54 to 1.29; short-term debt falls from €17,312 to €10,097.
16-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 77 days late
2021
23-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 84 days late
2020
31-12
Financial
Back to profitnet €4,725
Net result €4,725 after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 30 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€22,099
Net result drops to -€22,099, the lowest in the series; recovery starts the following year.
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 48 days late
2018
02-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2002
Ground area
611 m²
Building footprint
612 m²
Volume, LiDAR
3,690 m³
2 parcels, Flanders · tallest building 16.4 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Te Boelaarlei 41, 2140 Antwerpen
since 20022.096.180.292
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11313B1076/00C002 | Flanders | 476 m² | 1 · 476 m² | 12.4 m · 1 fl. |
| 11313B1006/00H000 | Flanders | 135 m² | 1 · 136 m² | 16.4 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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C.C.O. IMMO CONSULT
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 40,873 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded03-10-2001
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
66220Insurance agents and brokers
68110Buying and selling of own real estate
E-invoicing
Not found in the Peppol register
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.