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FlyerCo Holding

Judicial reorganisation
Public limited companyfounded 2011active for 15 yearsKlein-Mechelen(BOR) 18 A, 2880 Bornem, BelgiumKBO/BCE: BE 0835.194.447
Summary

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).

Risk analysisWatch ReportCompare
FlyerCo HoldingJudicial reorganisationChecked score 4/100
Risk analysis ReportCompare

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

  1. Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
  2. An amicable settlement binds only the creditors who sign it. You decide whether you sign.
  3. What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
  4. 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 ↗ Watch 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 2025
Reorganisation running: about 1 in 4 bankrupt within the year
Structure
Parent
NPM Capital
Holdings
3
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
Every signal that counts is listed under Signals.
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 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€16.5m
raises risk · In judicial reorganisation
Ongoing procedure under court protection (Book XX of the Code of Economic Law). The company is restructuring.
Belgian Official Gazette
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 filings
Deviation 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 months
Where today falls in the filing period
09-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Appointment: EY Bedrijfsrevisoren (statutory auditor)Gazette deed
  2. Annual accounts filedfinancial year 2025 · full…
  3. 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

Financials

Financial year
2025
Total assets
€15.6m
Loss
-€987,568
Solvency
-105.4%
Turnover▼ 44.8%
Net result
20182022
Go to Financials

Timeline

Events
32
Since
2012
Next accounts
by 31-07-2027
  1. 27-08-2026Restructuring
  2. 27-08-2026Restructuring
  3. 15-10-2025Annual accounts filed
Go to Timeline

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
Go to Company details

Articles of association

Provisions read
3
Purpose
Alle vormen van distributie van onder meer drukwerk, publiciteitsonderwerpen, media en…
Go to Articles of association

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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