Air transport
260 Belgian companies whose main activity falls under NACE code 51 have filed annual accounts. Their median solvency is 40.2% for financial year 2024.
Sector medians
Computed by IdonisDistribution across the sector's companies for financial year 2024: a quarter of companies sit below the 1st quartile, half below the median, three quarters below the 3rd quartile.
| Indicator | 1st quartile | Median | 3rd quartile | Companies |
|---|---|---|---|---|
| Solvency | 5.9% | 40.2% | 73.7% | 228 |
| Current ratio | 0.47 | 1.29 | 3.01 | 220 |
| ROE | -0.2% | 11.2% | 37.8% | 178 |
| Equity | 5,885 € | 73,582 € | 264,383 € | 230 |
| Total assets | 66,805 € | 189,761 € | 794,005 € | 229 |
| Net result | −5,002 € | 8,256 € | 40,038 € | 229 |
| Headcount (avg FTE) | 1.0 | 4.2 | 22.8 | 50 |
Medians computed by Idonis from annual accounts filed with the National Bank, all sizes combined. The same panel is the sector benchmark on every company page. Method
Largest companies: Air transport
Ranked by total assets in the latest filed accounts. This is a size criterion, not an assessment.
| # | Company | Total assets | Revenue | Equity | FTE | Year |
|---|---|---|---|---|---|---|
| 1 | SN Airholding 1831 Machelen (Brab.) | €693.0m | €21.5m | €689.3m | 166.5 | 2025 |
| 2 | Brussels Airlines 1831 Machelen (Brab.) | €598.4m | €1.70bn | −€156.9m | 2,831.9 | 2025 |
| 3 | TUI Airlines Belgium 1930 Zaventem | €482.4m | €732.1m | −€340.8m | 1,073.0 | 2025 |
| 4 | ASL Airlines Belgium 4460 Grâce-Hollogne | €176.4m | €665.5m | €43.0m | 409.4 | 2025 |
| 5 | Noordzee Helikopters Vlaanderen 8400 Ostend | €91.1m | €27.7m | €18.1m | 129.2 | 2025 |
| 6 | Federal Express Corporation | €61.1m | €572.8m | €27.4m | 23.6 | 2025 |
| 7 | Abelag Aviation 8560 Wevelgem | €47.2m | €77.0m | €13.1m | 59.8 | 2024 |
| 8 | Air Belgium 1435 Mont-Saint-Guibert | €42.0m | €134.4m | −€68.5m | 451.2 | 2023 |
| 9 | Flying Service 2100 Antwerp | €35.4m | €93.0m | €3.25m | 75.0 | 2025 |
| 10 | Air Belgium 1435 Mont-Saint-Guibert | €33.9m | €94.2m | −€22.1m | 114.1 | 2025 |
| 11 | Sobelair 1050 Ixelles | €30.8m | — | −€42.4m | — | 2025 |
| 12 | AIR Service Liege 3500 Hasselt | €24.6m | €47.8m | €11.6m | 37.7 | 2025 |
| 13 | Sporting Lokeren Academy 9160 Lokeren | €19.2m | — | €17.2m | 2.3 | 2025 |
| 14 | European Aircraft Private Club 6040 Charleroi | €15.0m | €22.9m | €3.50m | 34.1 | 2025 |
| 15 | Abelag Handling 1930 Zaventem | €10.7m | €10.6m | −€1.85m | 29.5 | 2024 |
| 16 | dnata 1830 Machelen (Brab.) | €10.2m | €20.2m | €1.79m | 143.8 | 2025 |
| 17 | Brink's Global Services Antwerp 2018 Antwerp | €10.0m | €3.81m | €9.41m | 14.3 | 2024 |
| 18 | Internationale Luchthaven Kortrijk-Wevelgem 8560 Wevelgem | €9.62m | — | €6.32m | 16.1 | 2025 |
| 19 | THE Aviation Factory 2100 Antwerp | €6.95m | €37.6m | €1.72m | 6.8 | 2025 |
| 20 | SEA-AIR 9042 Ghent | €6.48m | — | 134,928 € | — | 2025 |
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
Where are they based?
Municipalities with the most
- 2100 Antwerp (Deurne)10
- 2000 Antwerp7
- 3500 Hasselt (Sint-Lambrechts-Herk)6
- 1830 Machelen (Brab.) (Machelen)5
- 4460 Grâce-Hollogne (Bierset, Grâce-Berleur, Hollogne-Aux-Pierres, …)5
- 1930 Zaventem (Nossegem)4
- 8400 Ostend (Stene, Zandvoorde)4
- 9100 Sint-Niklaas (Nieuwkerken-Waas)4
- 9220 Hamme (Vl.) (Hamme, Moerzeke)4
- 1000 Brussels3
- 1040 Etterbeek3
- 1050 Ixelles3
Sub-sectors
Frequently asked questions
How many Air transport companies are there in Belgium?
260 Belgian companies whose main activity falls under NACE code 51 (Air transport) have filed annual accounts with the National Bank.
What is the median solvency in Air transport?
For financial year 2024, median solvency (equity over total assets) is 40.2%. The middle half of companies lies between 5.9% and 73.7% (228 companies).
What is the largest company in Air transport?
By total assets, it is SN Airholding (€693.0m, financial year 2025).
Where are Air transport companies based?
The municipalities with the most: Antwerp (10), Antwerp (7), Hasselt (6).
Analyse companies in Air transport
Filter these companies by size, soundness and trend, follow them and get an alert when their accounts or publications change.
Open the full file →Active companies (legal entities) that have filed at least one set of annual accounts, based on the Crossroads Bank for Enterprises and the National Bank of Belgium. The sector is the main activity in the register; the municipality is that of the registered office. Data updated on 10 Oct 2026.