Equity
-€14,132
Debts exceed assets in financial year 2025.
IcAiruS
Lifetime
7 annual accounts with figures on one time axispeak €33,536 (2019)
€8,122▼ 14.1%
lowest -€15,780 (2021)
-€1,446▼ €2,255
peak €24,190 (2019)
-€14,132▼ €1,446
€42,719▼ 10.9%
Board3 names since 2018
3 directorsDECOMMER Glenn Luc and 2 others
Documentsfilings and deeds
25-11-202525 days late
2025micro format
Gross margin from €9,455 to €8,122Loss of €1,446
Key points
from the 2025 annual accountsChecked score
54
Fair
Financially stronger than 33% of micro companies in air transport (NACE 51)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 201 companies (NACE 51, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.1%● unchanged vs 12-2024
02-2025: 1.1%● unchanged vs 01-2025
03-2025: 1.1%● unchanged vs 02-2025
04-2025: 1.0%▼ -0.1 percentage points vs 03-2025
05-2025: 1.0%● unchanged vs 04-2025
06-2025: 1.1%▲ +0.1 percentage points vs 05-2025
07-2025: 1.1%● unchanged vs 06-2025
08-2025: 1.1%● unchanged vs 07-2025
09-2025: 1.0%▼ -0.1 percentage points vs 08-2025
10-2025: 1.0%● unchanged vs 09-2025
11-2025: 1.5%▲ +0.5 percentage points vs 10-2025
12-2025: 1.8%▲ +0.3 percentage points vs 11-2025highest value
01-2026: 0.8%▼ -1.0 percentage point vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.9%▲ +0.1 percentage points vs 06-2026
08-2026: 0.8%▼ -0.1 percentage points vs 07-2026
09-2026: 0.8%● unchanged vs 08-2026lowest value
10-2026: 1.0%▲ +0.2 percentage points vs 09-2026
11-2026: 1.3%▲ +0.3 percentage points vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Negative equity -€14,132
Figures for financial year 2025 (filed on 03-12-2025)
lowers risk
Size: total assets €28,587
Liquidity: current ratio 0.37, cash €12,240
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 51, micro). It does better than 9% of them on solvency, 45% on liquidity, 46% on profitability and 32% on growth.
The bankruptcy probability was computed on 10-11-2026 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 31-03-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 1,564 companies had the same profile as IcAiruS has now. Each dot stands for 4 companies, two years later.
88.9%
were still trading
5.4%
stopped another way
5.1%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of IcAiruS itself: 1.3% within 12 months.
Test of the method
The method was tested on the 497,448 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 1,564 companies, not a prediction for IcAiruS. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.37 (0.36 in 2024), below 1. Short-term debt is 149.4% and cash 42.8% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€14,132
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 25-11-2025, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 7 filingsDeviation from the deadline
2026
not filed
2025
25 days late
2024
1 day early
2023
on the day
2022
3 days late
2021
4 days late
2020
12 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 7 days after the deadline. In the sector (NACE 51), the median for financial year 2024 was 10 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0688529754
Change of role: Glenn Decommer, from manager to director
Appointment: Salma Seda (director) · Gazette deed
Incorporation
Founders: DECOMMER Glenn Luc and SEDA Salma · Founding capital of €18,600, 1,000 shares · Appointment: DECOMMER Glenn Luc (manager) · published on 18-01-2018 · Gazette deed
First establishment
Vrijheidsstraat 20, Bruges
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| IcAiruS Bruges | €28,587 | €8,122 | -49.4% | - |
| VDS AVIATION Bornem | €28,242 | €6,068 | 70.0% | - |
| Quality Ballooning Sint-Niklaas | €21,771 | €3,944 | -211.0% | - |
| RECOVER BALLOONING Hamme (Vl.) | €61,333 | €6,001 | 30.7% | - |
| JO-AVIATION Mettet | €54,857 | €13,548 | 14.8% | - |
| Dany Oversteyns Helicopter Flights en Services Lebbeke | €71,073 | €12,089 | 93.9% | - |
| MARNEF AVIATION CONSULTING Kontich | €31,470 | €6,034 | 89.8% | - |
These companies have the same main activity as IcAiruS: passenger air transport (NACE 51100). They are comparable in size and age: total assets between €21,800 and €71,100, founded between 2010 and 2020.
Official details
Source: KBO- Status
- Active since 16-01-2018Normal situation
- Activity
- Passenger air transportNACE 51100and 1 other
- Establishment unit
- 2.272.070.8878310 Bruges, since 16-01-2018
- Financial year end
- 31 March
- Peppol
- Reachable since 09-07-2026
Insights on IcAiruS
IcAiruS files the micro format. That format states no turnover. The gross margin fell from €33,536 in 2019 to €8,122 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 IcAiruS
- What is the company number of IcAiruS?
- The company number of IcAiruS is 0688.529.754. The VAT number is the same number with BE in front: BE 0688.529.754.
- Where is IcAiruS based?
- The registered office is at Vrijheidsstraat 20, 8310 Bruges.Company details
- What does IcAiruS do?
- According to the KBO register, the main activity is passenger air transport (NACE 51100).
- What is the legal form of IcAiruS?
- IcAiruS is a private limited company (BV).
- When was IcAiruS founded?
- IcAiruS was founded on 16-01-2018.
- Is IcAiruS still active?
- Yes, IcAiruS is an active enterprise in the KBO register.
- What is the turnover of IcAiruS?
- The turnover in financial year 2025 is ≈ €62,000. This figure is estimated from the gross margin of €8,122 and 6,296 comparable companies of the same size. It probably lies between €28,000 and €150,000. It is a rough estimate.Financials
- Is IcAiruS profitable?
- In financial year 2025, IcAiruS made a loss of €1,446.
- Where can I find the annual accounts of IcAiruS?
- IcAiruS filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
Next steps
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