ACTIVE

NORTHWESTER 2

Financial year 2025 · Closed on 31/12/2025

Net result15,1 M €+8,5 %over 1 year

Revenue75,6 M €+32,3 %over 1 year

Equity41,5 M €+13,1 %over 1 year

Identity

Source · BCE/KBO

NORTHWESTER 2 is a Public limited company incorporated in 2011. Its main activity is: Production of electricity. Its registered office is in Leuven.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0834.020.549
Incorporation: 24/02/2011
Legal form: Public limited company
Registered office: Sint-Maartenstraat 5
3000 Leuven · FlandreSee on map
Contributed capital: 22 300 000,00 €
Latest accounts: 31/12/2025

Activities (NACE)

35110Production of electricity· main 35110Production of electricity

Signals

ProfitablePositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 14 filings

Trend over 8 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	75,6 M €	+32.3%	57,2 M €	-60.8%	145,7 M €	+143%	59,8 M €	-7.3%	64,6 M €
EBITDA	58,3 M €	-0.6%	58,7 M €	-49.2%	115,6 M €	+168%	43,1 M €	-16.1%	51,3 M €
Operating result	26,5 M €	-3.2%	27,3 M €	-67.6%	84,4 M €	+597%	12,1 M €	-40.5%	20,4 M €
Net result	15,1 M €	+8.5%	13,9 M €	-76.7%	60 M €	+558%	9,1 M €	+61.0%	5,7 M €
Balance sheet
Equity	41,5 M €	+13.1%	36,7 M €	-19.2%	45,5 M €	+38.8%	32,7 M €	+1.3%	32,3 M €
Total assets	470,1 M €	-11.2%	529,6 M €	-9.7%	586,8 M €	+5.8%	554,7 M €	-5.3%	586,1 M €
Cash	13,9 M €	-48.2%	26,8 M €	+111%	12,7 M €	+349%	2,8 M €	-85.5%	19,4 M €
Debts	420,2 M €	-12.2%	478,5 M €	-10.1%	532,2 M €	+3.0%	516,9 M €	-4.8%	543,1 M €

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

11 active · 16 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Geert Vanderbeeken	Director31/01/2026 → 07/05/2029
Silja Wiebe	Director13/06/2025 → 28/04/2026
Marlies Vlasselaer	Director09/05/2025 → 07/05/2029
Neos Anemos0702.893.573Represented by Eric Antoons	Director09/05/2025 → 07/05/2029
Vincent De Koninck	Director09/05/2025 → 07/05/2029
BLACKBOULDER0787.351.869Represented by Mathias Van Steenwinkel	Director21/06/2024 → 04/05/2029
Christoph Mertens	Director24/08/2018 → 04/05/2029
Edward Van Melkebeek	Director20/12/2021 → 04/05/2029
Kenta Nishikawa	Director05/05/2023 → 04/05/2029
Peter Caluwaerts	Director20/12/2021 → 04/05/2029
VAN LEEUW CONSULTING0562.832.206Represented by François Van Leeuw	Director23/05/2018 → 04/05/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Mathias Van Steenwinkel	Director06/05/2022 → 21/06/2024
Pieter Marinus	Director20/12/2021 → 06/05/2022
Tom Mahieu	Director30/09/2020 → 2020 accounts

Other companies at this address

Sint-Maartenstraat 5 3000 Leuven

Company	CBE no.
BELWIND● Active	0879.041.417
Nobelwind● Active	0543.652.534
North Sea Wind● Active	0715.938.489
PARKWIND● Active	0844.796.259
Parkwind Offshore Wind Australia● Active	1005.411.334

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	05/05/2026	15/05/2025	06/05/2024	16/05/2023	10/06/2022	04/06/2021
General meeting	04/05/2026	05/05/2025	03/05/2024	05/05/2023	06/05/2022	07/05/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 14 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	04/05/2026	05/05/2026	Dutch	PDF
Full model	31/12/2024	05/05/2025	15/05/2025	Dutch	PDF
Full model	31/12/2023	03/05/2024	06/05/2024	Dutch	PDF
Full model	31/12/2022	05/05/2023	16/05/2023	Dutch	PDF
Full model	31/12/2021	06/05/2022	10/06/2022	Dutch	PDF
Full model	31/12/2020	07/05/2021	04/06/2021	Dutch	PDF
Abridged model	31/12/2019	04/05/2020	12/06/2020	Dutch	PDF
Abridged model	31/12/2018	03/05/2019	05/06/2019	Dutch	PDF
Abridged model	31/12/2017	04/05/2018	04/07/2018	Dutch	PDF
Abridged model	31/12/2016	19/09/2017	16/10/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	08/07/2016	French	PDF
Abridged model	31/12/2014	01/06/2015	16/06/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	24/07/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	26/07/2013	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 31/12/2025

11 active · 16 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Geert Vanderbeeken	Director31/01/2026 → 07/05/2029
Silja Wiebe	Director13/06/2025 → 28/04/2026
Marlies Vlasselaer	Director09/05/2025 → 07/05/2029
Neos Anemos0702.893.573Represented by Eric Antoons	Director09/05/2025 → 07/05/2029
Vincent De Koninck	Director09/05/2025 → 07/05/2029
BLACKBOULDER0787.351.869Represented by Mathias Van Steenwinkel	Director21/06/2024 → 04/05/2029
Christoph Mertens	Director24/08/2018 → 04/05/2029
Edward Van Melkebeek	Director20/12/2021 → 04/05/2029
Kenta Nishikawa	Director05/05/2023 → 04/05/2029
Peter Caluwaerts	Director20/12/2021 → 04/05/2029
VAN LEEUW CONSULTING0562.832.206Represented by François Van Leeuw	Director23/05/2018 → 04/05/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Mathias Van Steenwinkel	Director06/05/2022 → 21/06/2024
Pieter Marinus	Director20/12/2021 → 06/05/2022
Tom Mahieu	Director30/09/2020 → 2020 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates26/08/2026
Ontslagen en benoemingen
PDF
Other15/05/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates05/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/11/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/01/2024
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings8 filings

Mandates

Geert Vanderbeeken

Silja Wiebe

Neos Anemos

Marlies Vlasselaer

Vincent De Koninck

BLACKBOULDER

VAN LEEUW CONSULTING

Christoph Mertens

Kenta Nishikawa

Edward Van Melkebeek

Peter Caluwaerts

Mathias Van Steenwinkel

Show the 15 other mandates

2011201220132014201520162017201820192020202120222023202420252026202720282029

NORTHWESTER 2

Sint-Maartenstraat 5, 3000 Leuven

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Sint-Maartenstraat 5, 3000 LeuvenCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00111065

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
NORTHWESTER 2Current	accounts 2021 → 2025	Accounts 2025 · 2026-00111065

Events

31/01/2026
nominationGeert Vanderbeeken · bestuurder
2025
Annual accounts 202515,1 M €↑
13/06/2025
nominationSilja Wiebe · bestuurder
09/05/2025
nominationNeos Anemos BV · bestuurder
09/05/2025
nominationMarlies Vlasselaer · bestuurder
09/05/2025
nominationVincent De Koninck · bestuurder
2024
Annual accounts 202413,9 M €↓
21/06/2024
nominationBLACKBOULDER BV · bestuurder
08/05/2024
reconductionVAN LEEUW CONSULTING BV · bestuurder
08/05/2024
reconductionPeter Caluwaerts · bestuurder
08/05/2024
reconductionChristoph Mertens · bestuurder
08/05/2024
reconductionEdward Van Melkebeek · bestuurder
08/05/2024
reconductionKenta Nishikawa · bestuurder
03/05/2024
reconductionPeter Caluwaerts · bestuurder
03/05/2024
reconductionEdward Van Melkebeek · bestuurder
03/05/2024
reconductionMathias Van Steenwinkel · bestuurder
03/05/2024
reconductionChristoph Mertens · bestuurder
03/05/2024
reconductionKenta Nishikawa · bestuurder
2023
Annual accounts 202360 M €↑
05/05/2023
nominationKenta Nishikawa · bestuurder
05/05/2023
nominationFrancis Boelens · commissaris
2022
Annual accounts 20229,1 M €↑
30/09/2022
reduction_capital
06/05/2022
nominationPeter Caluwaerts · bestuurder
06/05/2022
nominationEdward Van Melkebeek · bestuurder
06/05/2022
nominationMathias Van Steenwinkel · bestuurder
2021
Annual accounts 20215,7 M €↓
20/12/2021
nominationPeter Caluwaerts · bestuurder
20/12/2021
nominationPieter Marinus · bestuurder
20/12/2021
nominationEdward Van Melkebeek · bestuurder
07/05/2021
reconductionPaul Tummers · bestuurder
07/05/2021
reconductionTom Mahieu · bestuurder
2020
Annual accounts 20206,3 M €↑
2018
Annual accounts 2018-98,6 k €↓
2013
Annual accounts 2013-15,1 k €
24/02/2011
IncorporationPublic limited company

NORTHWESTER 2

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events