ACTIVE

TRUE

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Financial year 2025 · closed on 30/06/2025
Net result
76,4 k €
+203.2% YoY
Gross margin
573,0 k €
+21.1% YoY
Equity
141,1 k €
+118.2% YoY
Workforce
7,9 ETP
-14.1% YoY

What does TRUE do?

TRUE is a Private limited company incorporated in 2007. Its main activity is: Advertising agencies. Its registered office is in Antwerpen. It employs on average 7,9 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0892.583.607
Incorporation
05/10/2007
Legal form
Private limited company
Registered office
Regine Beerplein 1 C208
2018 Antwerpen · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
30/06/2025
Average workforce
7,9 ETP
Activities (NACE)
73110Advertising agencies· main73110Advertising agencies90023Support activities to performing arts90393Creative, arts and entertainment activities56301Beverage serving activities56301Beverage serving activities+8
Joint committees (1)
  • 20000
Signals
ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 18 financial years

202520242023202220212020201920182017201620152014201320122011201020092008
Income statement
Gross margin573,0 k €473,3 k €628,2 k €661,0 k €377,9 k €360,8 k €396,4 k €358,4 k €340,9 k €460,3 k €428,7 k €149,7 k €698,4 €78,4 €73,3 k €-2,2 k €-7,8 k €-383,8 €
EBITDA93,3 k €-43,2 k €32,7 k €140,9 k €2,3 k €32,4 k €5,1 k €74,8 k €69,1 k €101,1 k €17,4 k €-132,3 k €69,9 €-648,1 €72,7 k €-3,2 k €-9,3 k €-2,8 k €
Operating result87,1 k €-68,5 k €13,6 k €122,2 k €-17,0 k €6,2 k €-19,9 k €47,7 k €54,3 k €85,3 k €-7,0 k €-137,7 k €69,9 €-648,1 €72,7 k €-3,2 k €-9,7 k €-3,1 k €
Net result76,4 k €-74,1 k €-2,0 k €144,8 k €-18,0 k €3,9 k €-19,3 k €26,4 k €46,0 k €83,8 k €-7,6 k €-139,0 k €-45,1 €-821,0 €69,7 k €-2,8 k €-3,3 k €-16,6 k €
Balance sheet
Equity141,1 k €64,6 k €138,7 k €140,8 k €-4,1 k €13,9 k €10,0 k €29,3 k €2,8 k €-43,2 k €-126,9 k €-119,4 k €19,6 k €19,6 k €20,5 k €-4,0 k €-1,2 k €-5,4 k €
Total assets519,1 k €470,7 k €591,8 k €522,9 k €267,4 k €351,3 k €451,5 k €516,0 k €628,6 k €471,5 k €827,7 k €521,6 k €36,9 k €37,5 k €144,8 k €7,7 k €17,0 k €43,8 k €
Cash24,7 k €11,4 k €53,9 k €105,0 k €29,1 k €14,7 k €60,0 k €1,9 k €89,6 k €25,4 k €38,4 k €76,4 k €213,6 €115,8 €41,4 k €3,5 k €5,1 k €3,7 k €
Debts378,1 k €406,0 k €453,0 k €382,2 k €271,4 k €337,4 k €426,6 k €486,8 k €625,8 k €512,1 k €954,6 k €641,0 k €17,3 k €17,9 k €124,3 k €11,8 k €18,3 k €49,2 k €
Other
Workforce7,9 ETP9,2 ETP–10,5 ETP7,1 ETP6,5 ETP8,6 ETP5,3 ETP3,6 ETP6,3 ETP7,4 ETP8,8 ETP––––––
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 30/06/2025 · 2 active · 20 ended

Active mandates

FORM'AD

Director · since 07 octobre 2010 · 0476.758.661

Represented by David CLAEYS

Active
Salud

Director · since 07 octobre 2010 · 0888.639.170

Represented by Robin MANSO

Active

Ended mandates

Paul Apers

Manager · since 01 avril 2015

Ended
FORM'AD

Manager · since 07 octobre 2010 · 0476.758.661

Represented by David Claeys

Ended
FORM'AD

Director · since 07 octobre 2010 · 0476.758.661

Represented by David Claeys

Ended
KABAS

Manager · since 07 octobre 2010 · 0879.119.611

Represented by Kristof Bastiaensen

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelMicro modelAbridged modelAbridged modelAbridged model
Start of the financial year01/07/202401/07/202301/07/202201/07/202101/07/202001/07/2019
Closing of the financial year30/06/202530/06/202430/06/202330/06/202230/06/202130/06/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date27/01/202630/01/202525/01/202430/01/202327/01/202226/01/2021
General meeting29/12/202530/12/202424/12/202326/12/202227/12/202128/12/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

18 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model30/06/202529/12/202527/01/2026DutchPDF
Abridged model30/06/202430/12/202430/01/2025DutchPDF
Micro model30/06/202324/12/202325/01/2024DutchPDF
Abridged model30/06/202226/12/202230/01/2023DutchPDF
Abridged model30/06/202127/12/202127/01/2022DutchPDF
Abridged model30/06/202028/12/202026/01/2021DutchPDF
Abridged model30/06/201930/12/201929/01/2020DutchPDF
Abridged model30/06/201831/12/201810/01/2019DutchPDF
Abridged model30/06/201726/12/201710/01/2018DutchPDF
Abridged model30/06/201608/12/201619/12/2016DutchPDF
Abridged model30/06/201528/12/201529/01/2016DutchPDF
Abridged model30/06/201429/12/201429/01/2015DutchPDF
Abridged model30/06/201330/12/201313/01/2014DutchPDF
Abridged model30/06/201231/12/201203/01/2013DutchPDF
Abridged model30/06/201125/11/201121/12/2011DutchPDF
Abridged model30/06/201027/12/201026/01/2011DutchPDF
Abridged model30/06/200928/12/200929/01/2010DutchPDF
Abridged model30/06/200829/12/200824/02/2009DutchPDF
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 30/06/2025 · 2 active · 20 ended

Active mandates

FORM'AD

Director · since 07 octobre 2010 · 0476.758.661

Represented by David CLAEYS

Active
Salud

Director · since 07 octobre 2010 · 0888.639.170

Represented by Robin MANSO

Active

Ended mandates

Paul Apers

Manager · since 01 avril 2015

Ended
FORM'AD

Manager · since 07 octobre 2010 · 0476.758.661

Represented by David Claeys

Ended
FORM'AD

Director · since 07 octobre 2010 · 0476.758.661

Represented by David Claeys

Ended
KABAS

Manager · since 07 octobre 2010 · 0879.119.611

Represented by Kristof Bastiaensen

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates01/07/2026
    WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
    PDF
  • Mandates11/05/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates09/03/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office13/12/2017
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates26/06/2015
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office01/04/2015
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Other28/04/2014
    DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Registered office26/02/2014
    MAATSCHAPPELIJKE ZETEL
    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

Timeline

  1. 2025
    Annual accounts 202576,4 k €↑
  2. 2024
    Annual accounts 2024-74,1 k €↓
  3. 2023
    Annual accounts 2023-2,0 k €↓
  4. 2022
    Annual accounts 2022144,8 k €↑
  5. 2021
    Annual accounts 2021-18,0 k €↓
  6. 2020
    Annual accounts 20203,9 k €↑
  7. 2019
    Annual accounts 2019-19,3 k €↓
  8. 2018
    Annual accounts 201826,4 k €↓
  9. 2017
    Annual accounts 201746,0 k €↓
  10. 2016
    Annual accounts 201683,8 k €↑
  11. 2015
    Annual accounts 2015-7,6 k €↑
  12. 2014
    Annual accounts 2014-139,0 k €↓
  13. 2013
    Annual accounts 2013-45,1 €↑
  14. 2012
    Annual accounts 2012-821,0 €↓
  15. 2011
    Annual accounts 201169,7 k €↑
  16. 2010
    Annual accounts 2010-2,8 k €↑
  17. 2009
    Annual accounts 2009-3,3 k €↑
  18. 2008
    Annual accounts 2008-16,6 k €
  19. 05/10/2007
    IncorporationPrivate limited company