Freight air transport
No bankruptcy in the past twelve months.
7 companies file their annual accounts outside the standard format, for example in a sector format. Their figures and staff are missing from the employment, the medians and the largest employers.
Filed accounts
NACE 51210 · financial year 2025 · 37 filed annual accounts| Per financial year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Median solvency | 26.5% | 30.2% | 30.3% | 24.4% |
| Median net result | €49,789 | €39,479 | €35,624 | €9,395 |
Hold your customer's or competitor's figures against them in the Sector benchmark
Bankruptcies
Recent bankruptcies
| Date | Company |
|---|---|
| 18-03-2022 | SPA AIR SERVICE
BE 0548.952.494 |
Spread across the country
by region and province · 60 of 67 enterprises with a registered office on file · a sole trader has no published seat- Flanders
- Wallonia
- Brussels
- Abroad
The balance sheets of division 51 on the map, by municipality and down to the address
Largest employers
NACE 51210 as first main activity · staff from the latest accounts- 1 ASL Airlines BelgiumGrâce-Hollogne 409 FTEfinancial year 2025
- 2 dnataMachelen (Brab.) 144 FTEfinancial year 2025
- 3 Air BelgiumMont-Saint-Guibert 114 FTEfinancial year 2025
- 4 FERRARI BELGIUMAntwerp 25.0 FTEfinancial year 2025
- 5 EAGLE AIR AGENCIESSteenokkerzeel 17.5 FTEfinancial year 2025
Joint committees
from the latest accounts of 20 companies- 226 White-collar workers in international trade, transport and logistics 15
- 315.02 Commercial aviation 4
- 140.03 Road transport and logistics for third parties 3
- 100 Auxiliary committee for blue-collar workers 2
- 200 Auxiliary committee for white-collar workers 2
- 104 Steel industry 1
Source: the annual accounts at the National Bank. One filing can name more than one committee.
Division 51: Air transport
Related activities
1 other activity| Activity | Registrations | Starters, 12 months | Bankruptcies, 12 months | FTE |
|---|---|---|---|---|
| Space transport51220 | 3 | 0 | 0 | - |
Bankruptcies per year in division 51
| Per year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bankruptcies | 2 | 4 | 4 | 1 | 3 | 2 | 2 | 1 | 2 | 4 | 1 |
| Jobs lost | 4 | 170 | 8 | 78 | 4 | 2 | 2 | 1 | 2 | 313 | 8 |
2026 through January. Every bankruptcy, also of companies that have since left the register. Source: Statbel (Directorate-General Statistics), NACE classification of 2008.
Staff cost per FTE in NACE division 51
29 employersEmployers with the highest staff cost per FTE in this division All sectors by staff cost In the Analysis workbench
3 of the 359 companies in NACE division 51 have a parent company abroad. Main parent countries: Switzerland (1), Germany (1) and Ireland (1). Together they employ 1,494 of the division's 5,537 FTE: 27%, against 14% for Belgium as a whole.
Subsidies in this sector
per register · legal entities with an enterprise number- Flemish subsidies €9.8m awarded
- Wallonia-Brussels Federation €16,000 paid
- EU budget €653,576 attributed share
- EU research €552,960 EU contribution
Insights on Freight air transport
Balance sheet and result. 21.6% of the annual accounts show negative equity, against 12.4% in Belgium. 40.5% of the annual accounts close with a loss, against 26.7% in Belgium. Solvency of 24.4% is below Belgium's 46.1%.
Bankruptcies. The median bankruptcy probability of 0.5% is above Belgium's 0.2%.
Inflow and structure. 10.4% of the companies are sole traders, against 41.6% in Belgium. Wallonia holds 27.7% of the seats, against 22.7% in Belgium. In 12 months, 7.5 of 100 companies started, against 8.8 in Belgium. That is more than in 51% of the 87 NACE divisions.
Staff and filing. 55.0% of the financial year 2024 accounts were filed late, against 38.4% in Belgium. The 5 largest employers hold 710 of the 772 FTE: 91.9%.
Direction. Median solvency fell from 26.5% in financial year 2022 to 24.4% in financial year 2025. The median net result fell from €49,789 in financial year 2022 to €9,395 in financial year 2025.
The comparison with Belgium as a whole and with the other divisions is as of 05-11-2026 05:30.
Method and sources
Every company registered today counts under its main activities in the KBO. Establishment units do not count. Staff counts once, under the employer's first main activity, from its latest accounts and only where it fits the staff costs. The count follows the NACE 2025 classification, the version in which code 51210 exists.
The bankruptcies over five years count only companies still registered today, because the activity of a company that left the register is not kept. So they are fewer than the bankruptcies of those years, and the figure is not a probability for the future. Over twelve months the count is nearly complete, because a bankrupt company stays registered while its bankruptcy runs. A company with more than one main activity counts in each of those sectors.
The comparison with Belgium as a whole and with the other NACE divisions rests on an overview of every division, counted again each night. Each division is counted in the version of the NACE classification in which it exists. A standing such as "more than in 80%" compares with the other divisions that have the figure. A division's bankruptcy probability is the median over its companies with a score. Belgium here counts the 1,275,887 companies with a main activity, because only those belong to a division. The other 699,448 registrations publish no activity.
Each median is the value of the middle company, computed over the annual accounts of financial year 2025, and is shown only from 30 accounts. A share (loss-making, negative equity) counts that year's accounts with that trait. Accounts are late when they are filed after the statutory deadline. The direction per financial year follows the companies still registered today.