Turnover
≈ €13,000 estimated
The micro format states no turnover.
FLYING FIRST
Lifetime
5 annual accounts with figures on one time axispeak €8,875 (2021)
€3,574▲ €10,042
lowest -€6,621 (2024)
€3,393▲ €10,014
peak €17,762 (2022)
€10,359▲ 48.7%
€10,358▲ 38.6%
Board4 names since 2020
3 directorsDAMMAN Fernand and 2 others
Documentsfilings and deeds
30-03-202631 days before the deadline
2025micro format
Gross margin from -€6,468 to €3,574Back to profit: €3,393Appointment: Wouter Sonck (director) 14-04Equity from €6,966 to €10,359Debts from €7,475 to €10,358
Key points
from the 2025 annual accountsFilings
5 annual accounts since 2021
The last five annual accounts were filed 8 to 33 days before the end of the period.
Checked score
96
Excellent
Financially stronger than 64% of micro companies in education (NACE 85)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 3,825 companies (NACE 85, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: 0.1%▲ +0.1 percentage points vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025highest value
05-2025: < 0.1%▼ -0.1 percentage points vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: 0.1%▲ +0.1 percentage points vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: < 0.1%▼ -0.1 percentage points vs 03-2026lowest value
05-2026: < 0.1%● unchanged vs 04-2026lowest value
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Sector: Education (NACE 85)
Liquidity: current ratio 2.00, cash €12,675
Figures for financial year 2025 (filed on 30-03-2026)
Size: total assets €20,717
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 85, micro). It does better than 54% of them on solvency, 65% on liquidity, 56% on profitability and 83% on growth.
The bankruptcy probability was computed on 09-11-2026 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 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 26,972 companies had the same profile as FLYING FIRST has now. Each dot stands for 68 companies, two years later.
94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of FLYING FIRST itself is lower: < 0.1% within 12 months. It rests on far more data about FLYING FIRST than the profile alone.
Test of the method
The method was tested on the 497,447 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 26,972 companies, not a prediction for FLYING FIRST. 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 €500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.0 (1.93 in 2024), above the usual 1.5. Short-term debt is 50% and cash 61.2% of total assets. 50% of the assets are financed with debt and provisions.
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Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-03-2026, 31 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
31 days early
2024
8 days early
2023
33 days early
2022
26 days early
2021
26 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 25 days before the deadline. In the sector (NACE 85), the median for financial year 2024 was 16 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 4 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
Board and ownership
- FEDACON 20 sharesdeed of 19-05-2020
- MD AVIATION 20 sharesdeed of 19-05-2020
- STEVENS Robert Stephaan founderdeed of 19-05-2020
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0746832890
Appointment: Wouter Sonck (director)
Resignation: Stevens Robert (director) · General meeting of 02-03-2025 · Gazette deed
First establishment
's Gravenwal 2, Kortemark
Incorporation
Founders: FEDACON, MD AVIATION and STEVENS Robert Stephaan · 160 shares · Appointments: STEVENS Robert Stephaan, DE CRAENE Emmanuel and DAMMAN Fernand · published on 19-05-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| FLYING FIRST Kortemark | €20,717 | €3,574 | 50.0% | - |
| Nightingale Aviation Namur | €16,933 | -€7,467 | -256.0% | - |
| NUDGE TO SAIL Lasne | €48,669 | -€13,266 | 20.2% | - |
| ALIAS LUCAS Tienen | €39,983 | -€5,783 | 97.1% | - |
| COP FLIGHT TRAINING Geraardsbergen | €47,257 | €23,358 | 81.4% | - |
| UAS CONSULTING Sint-Gillis (bij-Brussel) | €20,616 | €34,679 | -393.7% | - |
| Topcat helicopters Koksijde | €76,054 | -€2,263 | 41.2% | - |
These companies have the same main activity as FLYING FIRST: education (NACE 85532). They are comparable in size and age: total assets between €16,900 and €76,100, founded between 2015 and 2021.
Official details
Source: KBO- Status
- Active since 08-05-2020Normal situation
- Activity
- EducationNACE 85532
- Establishment unit
- 2.303.268.8598610 Kortemark, since 12-05-2020
- Financial year end
- 30 September
- Peppol
- Reachable since 08-10-2025
Annual accounts to 30-09-2025
- €20,717▲ 43.5%
- Filing
- Filed on 30-03-2026, 31 days before the end of the filing period
Insights on FLYING FIRST
FLYING FIRST files the micro format. That format states no turnover. The gross margin fell from €8,875 in 2021 to €3,574 in 2025.
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 FLYING FIRST
- What is the company number of FLYING FIRST?
- The company number of FLYING FIRST is 0746.832.890. The VAT number is the same number with BE in front: BE 0746.832.890.
- Where is FLYING FIRST based?
- The registered office is at 's Gravenwal 2, 8610 Kortemark.Company details
- What does FLYING FIRST do?
- According to the KBO register, the main activity is education (NACE 85532).
- What is the legal form of FLYING FIRST?
- FLYING FIRST is a private limited company (BV).
- When was FLYING FIRST founded?
- FLYING FIRST was founded on 08-05-2020.
- Is FLYING FIRST still active?
- Yes, FLYING FIRST is an active enterprise in the KBO register.
- What is the turnover of FLYING FIRST?
- The turnover in financial year 2025 is ≈ €13,000. This figure is estimated from the gross margin of €3,574 and 42 comparable companies (NACE 855). It probably lies between €8,800 and €27,000. It is a rough estimate.Financials
- Is FLYING FIRST profitable?
- In financial year 2025, FLYING FIRST made a profit of €3,393.
- Where can I find the annual accounts of FLYING FIRST?
- FLYING FIRST filed 5 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of FLYING FIRST due?
- FLYING FIRST must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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