Fly Technologies
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-01-2026 PDF all 6 filings
Turnover
≈ €160,000
Estimated: probably between €96,000 and €290,000
Total assets
€65,047▲ 10.2%
2024 · €59,000
Net result
€24,781▲ 390%
2024 · €5,058
Working capital
-€29,843▼ 494%
2024 · -€5,027
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€33,478
▲ 341%
2025
20202025
Net result
€24,781
▲ 390%
2025
middle half of the sector
20202025
Equity
€15,856
▲ 5.2%
2025
middle half of the sector
20202025
Total assets
€65,047
▲ 10.2%
2025
lowest quarter of the sector
20202025
Debt
€49,191
▲ 12.0%
2025
20202025
Working capital
-€29,843
▼ 494%
2025
middle half of the sector
20202025
Solvency
24.4%
▼ 1.2pp
2025
middle half of the sector
20202025
Current ratio
0.39
▼ 0.48
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
38.1%
▲ 29.5pp
2025
highest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€7,847-€25,660▲ 227%€8,137▼ 68.3%-€5,696€7,585€33,478▲ 341%
Net result€5,766within the sector's middle half-€19,807within the sector's middle half▲ 243%€5,454within the sector's middle half▼ 72.5%-€5,709below the sector's middle half€5,058within the sector's middle half€24,781within the sector's middle half▲ 390%
Equity€15,766within the sector's middle half-€35,573within the sector's middle half▲ 126%€41,027within the sector's middle half▲ 15.3%€35,318within the sector's middle half▼ 13.9%€15,076within the sector's middle half▼ 57.3%€15,856within the sector's middle half▲ 5.2%
Total assets€26,547below the sector's middle half-€59,711below the sector's middle half▲ 125%€65,674below the sector's middle half▲ 10.0%€42,401below the sector's middle half▼ 35.4%€59,000below the sector's middle half▲ 39.1%€65,047below the sector's middle half▲ 10.2%
Debt€10,781-€24,138▲ 124%€24,648▲ 2.1%€7,083▼ 71.3%€43,925▲ 520%€49,191▲ 12.0%
Working capital€2,134within the sector's middle half-€3,512within the sector's middle half▲ 64.6%€11,789within the sector's middle half▲ 236%€5,444within the sector's middle half▼ 53.8%-€5,027within the sector's middle half-€29,843within the sector's middle half▼ 494%
Solvency59.4%above the sector's middle half-59.6%above the sector's middle half▲ 0.2pp62.5%above the sector's middle half▲ 2.9pp83.3%above the sector's middle half▲ 20.8pp25.6%within the sector's middle half▼ 57.7pp24.4%within the sector's middle half▼ 1.2pp
Current ratio1.20within the sector's middle half-1.15within the sector's middle half▼ 0.051.48within the sector's middle half▲ 0.331.77within the sector's middle half▲ 0.290.88within the sector's middle half▼ 0.890.39below the sector's middle half▼ 0.48
Return on assets (ROA)21.7%above the sector's middle half-33.2%above the sector's middle half▲ 11.4pp8.3%within the sector's middle half▼ 24.9pp-13.5%below the sector's middle half▼ 21.8pp8.6%within the sector's middle half▲ 22.0pp38.1%above the sector's middle half▲ 29.5pp
above
within
below
The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 4.4 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €65,047
Fixed assets
€45,700 ▲ 93.5%
Current assets
€19,347 ▼ 45.3%
Equity and liabilities €65,047
Equity
€15,856 ▲ 5.2%
Debt
€49,191 ▲ 12.0%
Debt's share of the balance-sheet total rises from 74.4% to 75.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€39,138▲
2024 · €13,841
Cash flow
€30,441▲
2024 · €11,314
Debt to equity
3.10▲
2024 · 2.91
ROE
156.3%▲
2024 · 33.6%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€49,191▲
2024 · €40,410
Income taxes
€8,586▲
2024 · €2,465
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €2,828 | €6,792 | - | €4,188 |
| Financial fixed assets | - | €266 | - | €23,554 |
| Depreciation and write-downs of the year | €5,651 | €6,423 | €6,256 | €5,660 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €482 | €3,396 | €5,651 | €6,423 | €6,256 | €5,660 | ▼ 9.5% |
| Other operating charges640/8 | - | - | €102 | €398 | €384 | €625 | ▲ 62.7% |
| Gross operating margin9900 | €8,467 | €29,258 | €13,890 | €1,125 | €14,225 | €39,764 | ▲ 180% |
| Operating profit (loss)9901 | €7,847 | €25,660 | €8,137 | -€5,696 | €7,585 | €33,478 | ▲ 341% |
| Financial income75/76B | - | - | - | €72 | €1 | - | - |
| Recurring financial income75 | - | - | - | €72 | €1 | - | - |
| Financial charges65/66B | - | - | €39 | €85 | €63 | €112 | ▲ 77.9% |
| Recurring financial charges65 | €16 | €62 | €39 | €85 | €63 | €112 | ▲ 77.9% |
| Profit (loss) for the period before taxes9903 | €7,831 | €25,598 | €8,098 | -€5,709 | €7,523 | €33,366 | ▲ 344% |
| Income taxes67/77 | €2,065 | €5,791 | €2,644 | - | €2,465 | €8,586 | ▲ 248% |
| Profit (loss) for the period9904 | €5,766 | €19,807 | €5,454 | -€5,709 | €5,058 | €24,781 | ▲ 390% |
| Profit (loss) for the period to be appropriated9905 | €5,766 | €19,807 | €5,454 | -€5,709 | €5,058 | €24,781 | ▲ 390% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €26,547 | €59,711 | €65,674 | €42,401 | €59,000 | €65,047 | ▲ 10.2% |
| Fixed assets21/28 | €13,632 | €32,061 | €29,238 | €29,873 | €23,618 | €45,700 | ▲ 93.5% |
| Tangible fixed assets22/27 | €13,632 | €32,061 | €29,238 | €29,607 | €23,352 | €21,879 | ▼ 6.3% |
| Land and buildings22 | - | - | €7,313 | €6,453 | €5,593 | €4,732 | ▼ 15.4% |
| Plant, machinery and equipment23 | - | - | €5,764 | €3,406 | €1,595 | €1,685 | ▲ 5.7% |
| Other tangible fixed assets26 | - | - | €16,161 | €19,749 | €16,164 | €15,462 | ▼ 4.3% |
| Financial fixed assets28 | - | - | - | €266 | €266 | €23,820 | ▲ 90× |
| Current assets29/58 | €12,915 | €27,650 | €36,436 | €12,528 | €35,383 | €19,347 | ▼ 45.3% |
| Amounts receivable within one year40/41 | €1,648 | €4,466 | €2,642 | €4,449 | €1,571 | €1,591 | ▲ 1.3% |
| Trade receivables40 | - | - | €2,160 | €3,967 | €1,016 | - | - |
| Other amounts receivable41 | - | - | €482 | €482 | €555 | €1,591 | ▲ 187% |
| Cash at bank and in hand54/58 | €11,086 | €23,002 | €33,794 | €8,079 | €32,994 | €17,756 | ▼ 46.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €818 | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €26,547 | €59,711 | €65,674 | €42,401 | €59,000 | €65,047 | ▲ 10.2% |
| Equity10/15 | €15,766 | €35,573 | €41,027 | €35,318 | €15,076 | €15,856 | ▲ 5.2% |
| Contributions10/11 | - | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €5,766 | €25,573 | €31,027 | €25,318 | €5,076 | €5,856 | ▲ 15.4% |
| Amounts payable17/49 | €10,781 | €24,138 | €24,648 | €7,083 | €43,925 | €49,191 | ▲ 12.0% |
| Amounts payable within one year42/48 | €10,781 | €24,138 | €24,648 | €7,083 | €40,410 | €49,191 | ▲ 21.7% |
| Trade debts44 | €187 | €641 | €436 | €303 | €2,977 | €305 | ▼ 89.7% |
| Suppliers440/4 | - | - | €436 | €303 | €2,977 | €305 | ▼ 89.7% |
| Taxes, remuneration and social security45 | - | - | €5,161 | €322 | €6,539 | €14,494 | ▲ 122% |
| Taxes450/3 | - | - | €5,161 | €322 | €6,539 | €14,494 | ▲ 122% |
| Other amounts payable47/48 | - | - | €19,050 | €6,458 | €30,895 | €34,392 | ▲ 11.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | €3,515 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,766 | €19,807 | €5,454 | -€5,709 | €5,058 | €24,781 | ▲ 390% |
| + Depreciation and write-downs630 | €482 | €3,396 | €5,651 | €6,423 | €6,256 | €5,660 | ▼ 9.5% |
| Operating cash flow (approximation) | €6,248 | €23,203 | €11,105 | €714 | €11,314 | €30,441 | ▲ 169% |
| Investment in fixed assets (approximation) | - | -€21,825 | -€2,828 | -€7,058 | €0 | -€27,742 | - |
| Change in cash | - | €11,917 | €10,792 | -€25,715 | €24,915 | -€15,238 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,713 companies had the same profile as Fly Technologies has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.2%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Fly Technologies itself: 0.6% 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 6,713 companies, not a prediction for Fly Technologies. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 29-01-2026 | 2026-00028742 | |
| 30-06-2024 | micro format | 30-01-2025 | 2025-00017193 | |
| 30-06-2023 | micro format | 07-02-2024 | 2024-00029396 | |
| 30-06-2022 | micro format | 28-02-2023 | 2023-00032899 | |
| 30-06-2021 | micro format | 01-02-2022 | 2022-04200341 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-04000565 |