ACTIVE

True North Asset Management

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Financial year 2025 · Closed on 30/09/2025

Net result388,9 k €+8,9 %over 1 year
Gross margin746,7 k €+7,3 %over 1 year
Equity2 M €+24,7 %over 1 year

Identity

Source · BCE/KBO

True North Asset Management is a Private limited company incorporated in 1996. Its registered office is in Sint-Martens-Latem.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0457.827.330
Incorporation
23/04/1996
Legal form
Private limited company
Registered office
Dorpsstraat 8
9831 Sint-Martens-Latem · FlandreSee on map
Contributed capital
300 000,00 €
Latest accounts
30/09/2025
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

Financials

Source · NBB, 20 filings

Trend over 19 financial years

20252024202320222021
Income statement
Gross margin746,7 k €695,9 k €633,3 k €422,3 k €263,3 k €
EBITDA732,4 k €687,3 k €626,5 k €408,5 k €259 k €
Operating result645,6 k €581 k €445 k €319,7 k €104,4 k €
Net result388,9 k €357,2 k €273,6 k €200,3 k €44,8 k €
Balance sheet
Equity2 M €1,6 M €1,2 M €938,7 k €441 k €
Total assets3,4 M €3,7 M €3,2 M €2,5 M €2,4 M €
Cash296,9 k €139,6 k €65,5 k €85,4 k €100,3 k €
Debts1,4 M €2 M €1,9 M €1,5 M €1,9 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation

Board of directors

Source · NBB, accounts to 30/09/2025

1 active · 19 ended

Active mandates

Bernard Hendrikx

Director · since 26 janvier 2007 · until 31 décembre 9999

Active

Ended mandates

Bernard HENDRIKX

Managing director · since 25 janvier 2013 · until 25 janvier 2019

Ended
Bernard HENDRIKX

Managing director · since 25 janvier 2013 · until 31 janvier 2019

Ended
Joan HENDRIKX

Director · since 25 janvier 2013 · until 25 janvier 2019

Ended
Joan HENDRIKX

Director · since 25 janvier 2013 · until 31 janvier 2019

Ended

Other companies at this address

Dorpsstraat 8 9831 Sint-Martens-Latem
CompanyCBE no.
Apogée● Active
1024.759.369

Full financial information

Source · NBB
202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/10/202401/10/202301/10/202201/10/202101/10/202001/10/2019
Closing of the financial year30/09/202530/09/202430/09/202330/09/202230/09/202130/09/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date27/04/202629/04/202529/04/202428/04/202316/05/202220/04/2021
General meeting31/03/202631/03/202530/03/202431/03/202316/04/202224/03/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Micro model30/09/202531/03/202627/04/2026DutchPDF
Micro model30/09/202431/03/202529/04/2025DutchPDF
Micro model30/09/202330/03/202429/04/2024DutchPDF
Micro model30/09/202231/03/202328/04/2023DutchPDF
Micro model30/09/202116/04/202216/05/2022DutchPDF
Micro model30/09/202024/03/202120/04/2021DutchPDF
Abridged model30/09/201913/02/202012/03/2020DutchPDF
Abridged model30/09/201825/01/201915/02/2019DutchPDF
Abridged model30/09/201726/01/201823/02/2018DutchPDF
Abridged model30/09/201627/01/201731/01/2017DutchPDF
Abridged model30/09/201529/01/201611/02/2016DutchPDF
Abridged model30/09/201430/01/201527/02/2015DutchPDF
Abridged model31/08/201324/01/201421/02/2014DutchPDF
Abridged model31/08/201225/01/201325/01/2013DutchPDF
Abridged model31/08/201127/01/201220/02/2012DutchPDF
Abridged model31/08/201028/01/201111/02/2011DutchPDF
Abridged model31/08/200929/01/201012/02/2010DutchPDF
Abridged model31/08/200830/01/200920/02/2009DutchPDF
Abridged model31/08/200725/01/200811/02/2008DutchPDF
Abridged model31/08/200626/01/200731/01/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

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.

Board of directors

Source · NBB, accounts to 30/09/2025

1 active · 19 ended

Active mandates

Bernard Hendrikx

Director · since 26 janvier 2007 · until 31 décembre 9999

Active

Ended mandates

Bernard HENDRIKX

Managing director · since 25 janvier 2013 · until 25 janvier 2019

Ended
Bernard HENDRIKX

Managing director · since 25 janvier 2013 · until 31 janvier 2019

Ended
Joan HENDRIKX

Director · since 25 janvier 2013 · until 25 janvier 2019

Ended
Joan HENDRIKX

Director · since 25 janvier 2013 · until 31 janvier 2019

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates23/01/2025
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
    PDF
  • Restructuring03/05/2022
    MAATSCHAPPELIJKE ZETEL - DOEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring15/02/2022
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Registered office27/05/2019
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates11/03/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other04/05/2018
    BENAMING - DOEL
    PDF
  • Mandates22/02/2013
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares05/12/2011
    DOEL - KAPITAAL - AANDELEN
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025388,9 k €↑
  2. 2024
    Annual accounts 2024357,2 k €↑
  3. 2023
    Annual accounts 2023273,6 k €↑
  4. 2022
    Annual accounts 2022200,3 k €↑
  5. 2021
    Annual accounts 202144,8 k €↓
  6. 2020
    Annual accounts 202085 k €↑
  7. 2019
    Annual accounts 201974,5 k €↑
  8. 2018
    Annual accounts 2018-255,6 €↓
  9. 2017
    Annual accounts 20178,4 k €↓
  10. 2016
    Annual accounts 201641,9 k €↑
  11. 2015
    Annual accounts 2015-13,9 k €↑
  12. 2014
    Annual accounts 2014-16,5 k €↓
  13. 2013
    Annual accounts 201355,9 k €↑
  14. 2012
    Annual accounts 201218,6 k €↓
  15. 2011
    Annual accounts 201129,3 k €↑
  16. 2010
    Annual accounts 201024 k €↑
  17. 2009
    Annual accounts 200917,7 k €↓
  18. 2008
    Annual accounts 200872,9 k €↑
  19. 2007
    Annual accounts 200764,5 k €
  20. 23/04/1996
    IncorporationPrivate limited company