ACTIVE

TRUE ODDS

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Financial year 2025 · closed on 31/12/2025

Net result

8,4 k €

-56.2% YoY

Gross margin

13 k €

-53.1% YoY

Equity

182,6 k €

+4.8% YoY

What does TRUE ODDS do?

TRUE ODDS is a Public limited company incorporated in 1995. Its main activity is: Computer programming activities. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0456.565.736

Incorporation

28/11/1995

Legal form

Public limited company

Registered office

Statiestraat 21
2018 Antwerpen · FlandreSee on map

Contributed capital

74 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

62010Computer programming activities· main 62100Computer programming, consultancy and related activities 62020Computer consultancy activities 62200Computer programming, consultancy and related activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2008		2007		2006
Income statement
Gross margin	13 k €	-53.1%	27,7 k €	+29.8%	21,3 k €	+7.0%	19,9 k €	+18.7%	16,8 k €	-48.7%	32,7 k €	-46.3%	60,9 k €	-37.3%	97,2 k €	+4802%	-2,1 k €	-303%	-513,6 €	-234%	-153,6 €	+43.7%	-272,7 €		–		-2 k €	-249%	1,4 k €	-89.7%	13,1 k €	-33.4%	19,7 k €	-7.7%	21,4 k €
EBITDA	12,4 k €	-54.2%	27,2 k €	+30.4%	20,8 k €	+7.0%	19,5 k €	+19.2%	16,3 k €	-17.0%	19,7 k €	-58.5%	47,4 k €	-42.7%	82,8 k €	+651%	-15 k €	-1480%	-951,1 €	-60.9%	-591,1 €	+12.6%	-676,2 €	+58.6%	-1,6 k €	+19.2%	-2 k €	-283%	1,1 k €	-91.4%	12,9 k €	-17.4%	15,6 k €	-25.1%	20,8 k €
Operating result	12 k €	-55.1%	26,7 k €	+31.1%	20,4 k €	+7.2%	19 k €	+19.8%	15,9 k €	-17.4%	19,2 k €	-59.1%	46,9 k €	-43.3%	82,8 k €	+651%	-15 k €	-1480%	-951,1 €	-60.9%	-591,1 €	+12.6%	-676,2 €	+58.6%	-1,6 k €	+19.2%	-2 k €	-283%	1,1 k €	-91.3%	12,7 k €	-17.6%	15,4 k €	-25.3%	20,6 k €
Net result	8,4 k €	-56.2%	19,3 k €	+30.8%	14,7 k €	+6.7%	13,8 k €	-2.4%	14,1 k €	+1.4%	13,9 k €	-64.3%	39 k €	-52.8%	82,6 k €	+639%	-15,3 k €	-1567%	1 k €	+277%	-591,1 €	+78.9%	-2,8 k €	-97.3%	-1,4 k €	+18.2%	-1,7 k €	-299%	874 €	-93.2%	12,9 k €	-17.2%	15,5 k €	-25.8%	21 k €
Balance sheet
Equity	182,6 k €	+4.8%	174,2 k €	+12.4%	155 k €	+10.5%	140,2 k €	+10.9%	126,4 k €	+12.6%	112,3 k €	+14.2%	98,4 k €	+65.7%	59,4 k €	+355%	-23,3 k €	-212%	20,7 k €	+5.3%	19,7 k €	-2.9%	20,3 k €	-12.1%	23,1 k €	-5.8%	24,5 k €	-6.6%	26,2 k €	+152%	-50,1 k €	+20.4%	-62,9 k €	+19.8%	-78,5 k €
Total assets	234,4 k €	+2.9%	227,8 k €	+10.2%	206,8 k €	+8.3%	190,9 k €	-5.2%	201,4 k €	+3.1%	195,3 k €	+11.4%	175,4 k €	+22.0%	143,8 k €	+417%	27,8 k €	+30.9%	21,2 k €	+7.9%	19,7 k €	-2.9%	20,3 k €	-15.9%	24,1 k €	-75.6%	98,7 k €	-3.7%	102,4 k €	+283%	26,7 k €	-10.0%	29,7 k €	+25.9%	23,6 k €
Cash	2,3 k €	-58.1%	5,5 k €	+51.4%	3,7 k €	+21.6%	3 k €	+49.2%	2 k €	-46.6%	3,8 k €	-26.2%	5,1 k €	-10.4%	5,7 k €	+1967%	275,8 €		–		–		–		19,1 k €	-73.8%	72,9 k €	-5.0%	76,7 k €	+250%	21,9 k €	+20.6%	18,2 k €	+1.2%	18 k €
Debts	51,7 k €	-3.5%	53,6 k €	+3.4%	51,8 k €	+2.3%	50,7 k €	-32.4%	75 k €	-9.7%	83 k €	+7.8%	77 k €	-8.8%	84,5 k €	+65.3%	51,1 k €	+9845%	513,6 €		–		–		191,3 €	-99.7%	74,2 k €	-2.6%	76,2 k €	-0.9%	76,8 k €	-17.1%	92,6 k €	-9.2%	102,1 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 17 ended

Active mandates

Ludo Magnus

Director · since 09 mai 2022

Active

Steven De Keninck

Director · since 09 mai 2022

Active

Walter Gadeyne

Director · since 09 mai 2022

Active

Ended mandates

Ludo Magnus

Managing director · since 16 juin 2016 · until 15 juin 2022

Ended

Ludo Magnus

Managing director · since 16 juin 2016

Ended

Steven De Keninck

Director · since 16 juin 2016 · until 15 juin 2022

Ended

Steven De Keninck

Director · since 16 juin 2016

Ended

At this address

Other companies at this address

Company	CBE no.
BREYDEL AMUSEMENT● Active	0473.446.013

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/08/2026	31/07/2025	30/09/2024	31/07/2023	31/08/2022	29/12/2021
General meeting	04/06/2026	05/06/2025	13/05/2024	08/05/2023	09/05/2022	10/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	04/06/2026	31/08/2026	Dutch	PDF
Micro model	31/12/2024	05/06/2025	31/07/2025	Dutch	PDF
Micro model	31/12/2023	13/05/2024	30/09/2024	Dutch	PDF
Micro model	31/12/2022	08/05/2023	31/07/2023	Dutch	PDF
Micro model	31/12/2021	09/05/2022	31/08/2022	Dutch	PDF
Micro model	31/12/2020	10/05/2021	29/12/2021	Dutch	PDF
Micro model	31/12/2019	08/06/2020	30/11/2020	Dutch	PDF
Micro model	31/12/2018	29/08/2019	24/12/2019	Dutch	PDF
Micro model	31/12/2017	30/08/2018	31/08/2018	Dutch	PDF
Abridged model	30/06/2016	13/12/2016	04/01/2018	Dutch	PDF
Abridged model	30/06/2015	08/12/2015	29/01/2016	Dutch	PDF
Abridged model	30/06/2014	10/01/2015	25/09/2015	Dutch	PDF
Abridged model	30/06/2013	10/02/2014	28/02/2014	Dutch	PDF
Abridged model	30/06/2012	21/03/2013	27/03/2013	Dutch	PDF
Abridged model	30/06/2011	23/12/2011	11/06/2012	Dutch	PDF
Abridged model	30/06/2010	14/02/2011	11/06/2012	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	17/07/2009	Dutch	PDF
Abridged model	31/12/2007	24/06/2008	12/08/2008	Dutch	PDF
Abridged model	31/12/2006	26/06/2007	20/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 17 ended

Active mandates

Ludo Magnus

Director · since 09 mai 2022

Active

Steven De Keninck

Director · since 09 mai 2022

Active

Walter Gadeyne

Director · since 09 mai 2022

Active

Ended mandates

Ludo Magnus

Managing director · since 16 juin 2016 · until 15 juin 2022

Ended

Ludo Magnus

Managing director · since 16 juin 2016

Ended

Steven De Keninck

Director · since 16 juin 2016 · until 15 juin 2022

Ended

Steven De Keninck

Director · since 16 juin 2016

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/02/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other17/07/2017
ALGEMENE VERGADERING - BOEKJAAR
PDF
Mandates05/07/2016
BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates24/09/2009
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/07/2009
ONTSLAGEN - BENOEMINGEN - BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates27/10/2005
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20258,4 k €↓
2024
Annual accounts 202419,3 k €↑
2023
Annual accounts 202314,7 k €↑
2022
Annual accounts 202213,8 k €↓
2021
Annual accounts 202114,1 k €↑
2020
Annual accounts 202013,9 k €↓
2019
Annual accounts 201939 k €↓
2018
Annual accounts 201882,6 k €↑
2017
Annual accounts 2017-15,3 k €↓
2015
Annual accounts 20151 k €↑
2014
Annual accounts 2014-591,1 €↑
2013
Annual accounts 2013-2,8 k €↓
2012
Annual accounts 2012-1,4 k €↑
2011
Annual accounts 2011-1,7 k €↓
2010
Annual accounts 2010874 €↓
2008
Annual accounts 200812,9 k €↓
2007
Annual accounts 200715,5 k €↓
2006
Annual accounts 200621 k €
28/11/1995
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

TRUE ODDS

Overview

What does TRUE ODDS do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline