Passenger air transport: highest published revenue
21 Belgian companies in the sector (NACE 5110) publish their revenue in recent accounts; here are the top 20. Brussels Airlines leads with €1.70bn (financial year 2025).
Top 20
Ranked by revenue published in the latest filed accounts (accounts less than 3 years old).
| # | Company | Total assets | Revenue | Equity | FTE | Year |
|---|---|---|---|---|---|---|
| 1 | Brussels Airlines 1831 Machelen (Brab.) | €598.4m | €1.70bn | −€156.9m | 2,831.9 | 2025 |
| 2 | TUI Airlines Belgium 1930 Zaventem | €482.4m | €732.1m | −€340.8m | 1,073.0 | 2025 |
| 3 | Federal Express Corporation | €61.1m | €572.8m | €27.4m | 23.6 | 2025 |
| 4 | Air Belgium 1435 Mont-Saint-Guibert | €42.0m | €134.4m | −€68.5m | 451.2 | 2023 |
| 5 | Flying Service 2100 Antwerp | €35.4m | €93.0m | €3.25m | 75.0 | 2025 |
| 6 | Abelag Aviation 8560 Wevelgem | €47.2m | €77.0m | €13.1m | 59.8 | 2024 |
| 7 | Air Service Liege 3500 Hasselt | €24.6m | €47.8m | €11.6m | 37.7 | 2025 |
| 8 | The Aviation Factory 2100 Antwerp | €6.95m | €37.6m | €1.72m | 6.8 | 2025 |
| 9 | Noordzee Helikopters Vlaanderen 8400 Ostend | €91.1m | €27.7m | €18.1m | 129.2 | 2025 |
| 10 | European Aircraft Private Club 6040 Charleroi | €15.0m | €22.9m | €3.50m | 34.1 | 2025 |
| 11 | SN Airholding 1831 Machelen (Brab.) | €693.0m | €21.5m | €689.3m | 166.5 | 2025 |
| 12 | Abelag Handling 1930 Zaventem | €10.5m | €10.5m | −€1.71m | 28.6 | 2025 |
| 13 | Flying Partners 2100 Antwerp | 957,349 € | 948,949 € | 192,161 € | — | 2025 |
| 14 | Aeroconsult 9050 Ghent | 998,875 € | 255,321 € | 350,208 € | — | 2025 |
| 15 | Booost 1470 Genappe | 376,625 € | 189,148 € | 46,681 € | — | 2025 |
| 16 | EMT 8587 Spiere-Helkijn | €2.40m | 97,436 € | −58,848 € | — | 2025 |
| 17 | H.W.P. 3500 Hasselt | €6.38m | 83,121 € | €6.15m | — | 2025 |
| 18 | South Belgium Helicopter 5630 Cerfontaine | 255,266 € | 52,669 € | −190,114 € | — | 2024 |
| 19 | DDAir 4680 Oupeye | 11,763 € | 6,109 € | 10,008 € | — | 2025 |
| 20 | L'Union Musicale 4990 Lierneux | 13,907 € | 5,228 € | 13,907 € | — | 2025 |
These are the revenue figures published in the annual accounts. Small companies (micro and abridged accounts) do not have to publish theirs: they do not appear in this ranking.
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Frequently asked questions
Which company in Passenger air transport has the highest revenue?
Brussels Airlines, with €1.70bn in revenue (financial year 2025).
How many Passenger air transport companies publish their revenue?
21 out of 220, in accounts less than 3 years old. Small companies (micro and abridged accounts) are not required to publish it.
Analyse companies in Passenger air transport
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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 12 Nov 2026.