Freight air transport
37 Belgian companies whose main activity falls under NACE code 5121 have filed annual accounts. Their median solvency is 21.0% for financial year 2025.
Sector medians
Computed by IdonisDistribution across the sector's companies for financial year 2025: 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 | 1.7% | 21.0% | 46.4% | 30 |
| Current ratio | 0.84 | 1.23 | 1.85 | 30 |
| ROE | -1.4% | 10.0% | 32.4% | 23 |
| Equity | 405 € | 88,980 € | 336,122 € | 31 |
| Total assets | 318,553 € | 731,517 € | €2.74m | 30 |
| Net result | −42,129 € | 4,565 € | 77,736 € | 31 |
| Headcount (avg FTE) | 1.8 | 9.7 | 17.5 | 17 |
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: Freight 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 | ASL Airlines Belgium 4460 Grâce-Hollogne | €176.4m | €665.5m | €43.0m | 409.4 | 2025 |
| 2 | Air Belgium 1435 Mont-Saint-Guibert | €33.9m | €94.2m | −€22.1m | 114.1 | 2025 |
| 3 | dnata 1830 Machelen (Brab.) | €10.2m | €20.2m | €1.79m | 143.8 | 2025 |
| 4 | Brink's Global Services Antwerp 2018 Antwerp | €8.90m | €3.32m | €8.40m | 12.0 | 2025 |
| 5 | Eagle AIR Agencies 1820 Steenokkerzeel | €6.14m | €22.7m | €2.77m | 17.5 | 2025 |
| 6 | Ferrari Belgium 2018 Antwerp | €5.02m | — | €3.33m | 25.0 | 2025 |
| 7 | Fracht Belgium AIR 1830 Machelen (Brab.) | €4.88m | €11.2m | €2.46m | 9.7 | 2025 |
| 8 | Network Airline Services 1830 Machelen (Brab.) | €2.74m | — | 86,435 € | 11.6 | 2025 |
| 9 | ASL Liege 4460 Grâce-Hollogne | €2.72m | — | 33,925 € | 2.3 | 2025 |
| 10 | A Drone Logistics Company 2000 Antwerp | €2.02m | — | −843,438 € | 3.9 | 2025 |
| 11 | Rich Sale Europe 4460 Grâce-Hollogne | €1.52m | — | 88,980 € | — | 2025 |
| 12 | East African Cargo 1933 Zaventem | €1.24m | — | 579,603 € | — | 2025 |
| 13 | LOB-OIL 8870 Izegem | €1.22m | — | 86,563 € | — | 2025 |
| 14 | Flightwatch 8490 Jabbeke | €1.03m | — | 298,789 € | 1.8 | 2026 |
| 15 | EuroPilot Center 2100 Antwerp | 953,757 € | — | 288,608 € | 1.3 | 2024 |
| 16 | Malenstein Air Belgium 1130 Brussels | 916,088 € | — | 130,825 € | 4.0 | 2025 |
| 17 | Joorest 1745 Opwijk | 806,835 € | — | 139,186 € | — | 2025 |
| 18 | simple Cargo 1930 Zaventem | 707,562 € | — | −26,586 € | 1.0 | 2025 |
| 19 | Icelandair Logistic 4460 Grâce-Hollogne | 656,199 € | — | 293,063 € | 5.4 | 2025 |
| 20 | Sotiaux International 1830 Machelen (Brab.) | 561,936 € | — | −235,047 € | — | 2025 |
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
Where are they based?
Municipalities with the most
- 1830 Machelen (Brab.) (Machelen)5
- 4460 Grâce-Hollogne (Bierset, Grâce-Berleur, Hollogne-Aux-Pierres, …)4
- 2100 Antwerp (Deurne)3
- 2000 Antwerp2
- 2018 Antwerp2
- 1060 Saint-Gilles1
- 1130 Brussels (Haren)1
- 1200 Woluwe-Saint-Lambert1
- 1300 Wavre (Limal)1
- 1435 Mont-Saint-Guibert (Corbais, Hévillers)1
- 1600 Sint-Pieters-Leeuw (Oudenaken, Sint-Laureins-Berchem)1
- 1745 Opwijk (Mazenzele)1
Related sectors
Frequently asked questions
How many Freight air transport companies are there in Belgium?
37 Belgian companies whose main activity falls under NACE code 5121 (Freight air transport) have filed annual accounts with the National Bank.
What is the median solvency in Freight air transport?
For financial year 2025, median solvency (equity over total assets) is 21.0%. The middle half of companies lies between 1.7% and 46.4% (30 companies).
What is the largest company in Freight air transport?
By total assets, it is ASL Airlines Belgium (€176.4m, financial year 2025).
Where are Freight air transport companies based?
The municipalities with the most: Machelen (Brab.) (5), Grâce-Hollogne (4), Antwerp (3).
Analyse companies in Freight 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 10 Nov 2026.