Financials
- Financial year
- 2025
- Total assets
- €15.6m
- Loss
- -€987,568
- Solvency
- -105.4%
Turnover▼ 44.8%
Net result
20182022
FlyerCo Holding
Judicial reorganisationSummary
The file of FlyerCo Holding contains 1 judicial reorganisation, as published in the Belgian Official Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show negative equity (-€16.5m) and a net result of -€987,568. Equity is shrinking by about 4% per year across the filed financial years. Its solvency ranks better than 5% of 3,823 sector peers (NACE 70, financial year 2025).
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Antwerp
- Opened
- 30 May 2022
- Track
- Reorganisation by amicable settlement
- Docket number
- 20220006
- Moratorium until
- 12 September 2022 (passed; an extension would be in a later judgment)
- Delegated judge
- Eddy Brouwers
- Official Gazette
- 02-06-2022 (pdf) ↗search the document for 2022/120345
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- An amicable settlement binds only the creditors who sign it. You decide whether you sign.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette.
View the file in RegSol ↗
Follow
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
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Overview
Activity
Activities of head offices
NACE 70100
#3 company by total assets in Bornem, Professional and technical services sector1 site
Size
€15.6mtotal assets 2025
- Equity
- -€16.5m
- Loss
- -€987,568
Net result -2,304%: other schema
Financial health
4
Critical
Checked score 2025Reorganisation running: about 1 in 4 bankrupt within the year
Structure
- Parent
- NPM Capital
- Holdings
- 3
- LUMA CommV.Director
- NPM CAPITAL NVDirector
Auditor: Ernst et Young Reviseurs d'EntreprisesAccounts filed 42 days late4 of 40 deeds read
Signalsraises riskNegative equityIn judicial reorganisationneutralFiled after the deadlineShow the evidence
Checked score
Score 2025
4
/ 100
Critical
Without a bankruptcy probability: score from the figures alone
Financial strength · tick = 2024
Weak
Solvency
0=
equity -105.4% of total assets
Liquidity
0=
short-term debt 187.9% · cash 0.2%
Profitability
22-15
return on assets -6.3%
Bankruptcy probability, 12 months
Judicial reorganisation
About 1 in 4 comparable companies went bankrupt within the year
A judicial reorganisation is open: we then compute no probability from the figures. Measured over every Belgian company in an open or failed reorganisation: 25% to 26% bankrupt within twelve months (2024 and 2025).
No credit on open account during an ongoing judicial reorganisation
Liquidity insufficient (current ratio 0.03, compared with 0.05 in 2024; short-term debt: 187.9% and cash: 0.2% of total assets), and equity is negative.
Signals
Three signals.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€16.5m
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-09-2026, 42 days later. For context: 47% of Belgian companies file late, and of those that file 1 to 90 days late, 2.0% are now in a legal situation other than normal in the KBO (such as bankruptcy, liquidation or dissolution), against 1.66% of all filers. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
42 days late
2024
76 days late
2023
421 days late
2022
717 days late
2021
225 days late
2020
1 day early
2019
80 days 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 223 days after the deadline; the sector median (NACE 70) for financial year 2024 is 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 12 March (4 of the last 5 filed years within 197 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
09-10-2026 today31-12-2026 year end31-07-2027 deadline
- Appointment: EY Bedrijfsrevisoren (statutory auditor)Gazette deed
- Annual accounts filedfinancial year 2025 · full…
- RestructuringPermanent representatives: Rafaël Lambrix, Martijn…
Key points
- Risk: In judicial reorganisationtrustee not known 30-05-2022 View
- Risk: Negative equityfinancial year 2025: debts exceed assets -€16.5m View
- Caution: Result fell in 2025different schema filed ▼ 2,304% View
- Caution: Among the weakest 5% on solvencysector median 53.3% · 3,823 companies -105.4% View
- Controlled by NPM Capitalitself parent of 3 companies parent View
- Caution: 2 loss-making years in a rowloss financial year 2025 -€987,568 View
By topic
Board & ownership
- Board
- 2 members
- Parent
- NPM Capital
- Auditor
- Ernst et Young Reviseurs…
- LUMA CommV.Director
- NPM CAPITAL NVDirector
Network & group
- Subsidiaries
- 3
- Mergers and contributions
- 3
3 subsidiaries
Timeline
- Events
- 32
- Since
- 2012
- Next accounts
- by 31-07-2027
- 27-08-2026Restructuring
- 27-08-2026Restructuring
- 15-10-2025Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Activities of head officesNACE 70100
- Founded
- 05-04-2011
- Year ends
- 31-12
- Peppol
- Not found in the Peppol directory
Articles of association
- Provisions read
- 3
- Purpose
- Alle vormen van distributie van onder meer drukwerk, publiciteitsonderwerpen, media en…
Go further with this company
What should you check before you do business with this company?Supplier due diligence What were this company's board, registered office and name on a given date?Company as of a date Which other companies belong to the same group?FlyerCo Holding · 4 companies Are there other customers at risk in your own list?Process a list How is the activities of head offices sector doing?Sector figures
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