ACTIVE

Northwind

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Financial year 2025 · Closed on 31/12/2025

Net result24,8 M €+6,9 %over 1 year
Revenue121,1 M €-1,9 %over 1 year
Equity67,8 M €+24,1 %over 1 year

Identity

Source · BCE/KBO

Northwind is a Public limited company incorporated in 2007. Its main activity is: Production of electricity. Its registered office is in Kortrijk.

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0894.163.222
Incorporation
13/12/2007
Legal form
Public limited company
Registered office
President Kennedypark(Kor) 8A box 1
8500 Kortrijk · FlandreSee on map
Contributed capital
28 490 700,00 €
Latest accounts
31/12/2025
Joint committees (1)
  • 326
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

Financials

Source · NBB, 18 filings

Trend over 17 financial years

20252024202320222021
Income statement
Revenue121,1 M €123,5 M €122,9 M €81,3 M €86,5 M €
EBITDA84,9 M €86,7 M €92,9 M €52,7 M €61,6 M €
Operating result43,8 M €45,5 M €54,2 M €14,1 M €23,1 M €
Net result24,8 M €23,2 M €30,3 M €-4,9 M €2,5 M €
Balance sheet
Equity67,8 M €54,6 M €31,4 M €26,5 M €31,3 M €
Total assets392,5 M €418 M €466,1 M €484,1 M €533,1 M €
Cash11,7 M €24,4 M €32,8 M €12,5 M €23,2 M €
Debts295 M €337,8 M €412,5 M €439,2 M €485 M €
Other
Workforce–––––

Valuation

Indicative valuation

As an indication, this company is worth

between 500 M€ and 1.000 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

8 active · 28 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Reiko Kawarazaki
Director09/12/2025 → 15/05/2026
Silja Wiebe
Director25/06/2025 → 15/05/2026
Philippe Awouters
Director16/05/2025 → 15/05/2026
David De Brabant
Director09/12/2024 → 15/05/2026
Ludo Kelchtermans
Chairman of the board of directors18/06/2020 → 15/05/2026Director30/09/2014 → 18/06/2020ended
Kenta Nishikawa
Director09/10/2019 → 15/05/2026
Peter Jans
Director28/09/2010 → 15/05/2026
Rik Van de Walle
Director11/12/2007 → 15/05/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Christoph Mertens
Director14/06/2024 → 2024 accounts
Aota Takashi
Director19/05/2023 → 2024 accounts
Mathias Van Steenwinkel
Director20/05/2022 → 2023 accounts

Other companies at this address

President Kennedypark(Kor) 8A 8500 Kortrijk
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1036.071.549
A&P WIND SERVICES● Active
0563.425.686
ASPIRAVI● Active
0477.518.825
ASPIRAVI ANTILLEN● Active
0654.923.313
ASPIRAVI ENERGY● Active
0553.706.187
ASPIRAVI HOLDING● Active
0833.432.809
ASPIRAVI INTERNATIONAL● Active
0665.755.639
ASPIRAVI OFFSHORE● Active
0477.948.593
ASPIRAVI OFFSHORE II● Active
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TeaMWise● Active
0552.706.295

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date11/06/202616/06/202517/06/202412/06/202315/06/202227/05/2021
General meeting15/05/202616/05/202517/05/202419/05/202320/05/202221/05/2021
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, 18 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202515/05/202611/06/2026DutchPDF
Full model31/12/202416/05/202516/06/2025DutchPDF
Full model31/12/202317/05/202417/06/2024DutchPDF
Full model31/12/202219/05/202312/06/2023DutchPDF
Full model31/12/202120/05/202215/06/2022DutchPDF
Full model31/12/202021/05/202127/05/2021DutchPDF
Full model31/12/201915/05/202010/06/2020DutchPDF
Full model31/12/201817/05/201927/05/2019DutchPDF
Full model31/12/201718/05/201806/06/2018DutchPDF
Full model31/12/201619/05/201706/06/2017DutchPDF
Full model31/12/201518/04/201628/04/2016DutchPDF
Full model31/12/201415/05/201510/06/2015DutchPDF
Full model31/12/201316/05/201420/08/2014DutchPDF
Full model31/12/201217/05/201319/06/2013DutchPDF
Full model31/12/201118/05/201218/06/2012DutchPDF
Full model31/12/201020/05/201131/08/2011DutchPDF
Full model31/12/200921/05/201021/05/2010DutchPDF
Full model31/12/200815/05/200911/06/2009DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 M€ and 1.000 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

8 active · 28 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Reiko Kawarazaki
Director09/12/2025 → 15/05/2026
Silja Wiebe
Director25/06/2025 → 15/05/2026
Philippe Awouters
Director16/05/2025 → 15/05/2026
David De Brabant
Director09/12/2024 → 15/05/2026
Ludo Kelchtermans
Chairman of the board of directors18/06/2020 → 15/05/2026Director30/09/2014 → 18/06/2020ended
Kenta Nishikawa
Director09/10/2019 → 15/05/2026
Peter Jans
Director28/09/2010 → 15/05/2026
Rik Van de Walle
Director11/12/2007 → 15/05/2026

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
Christoph Mertens
Director14/06/2024 → 2024 accounts
Aota Takashi
Director19/05/2023 → 2024 accounts
Mathias Van Steenwinkel
Director20/05/2022 → 2023 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates05/10/2026
    Ontslag bestuurders - benoeming bestuurders - volmacht
    PDF
  • Other04/09/2026
    STATUTEN (VERTALING, COORDINATIE, OVERIGE
    PDF
  • Mandates01/09/2026
    Ontslag en benoeming van een bestuurder
    PDF
  • Mandates16/06/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates14/01/2026
    MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates20/08/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/04/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates13/08/2024
    KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - DIVERSEN
    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
Filings17 filings
Mandates
Reiko Kawarazaki
Silja Wiebe
Philippe Awouters
David De Brabant
Ludo Kelchtermans
Kenta Nishikawa
Peter Jans
Rik Van de Walle
Christoph Mertens
Aota Takashi
Mathias Van Steenwinkel
Peter Caluwaerts
20072008200920102011201220132014201520162017201820192020202120222023202420252026
NorthwindELDEPASCO
President Kennedypark(Kor) 8A bte 1, 8500 KortrijkVaarnewijkstraat 17, 8530 HarelbekeSint-Maartenstraat 5, 3000 Leuven
Director
Director
Director
Chairman of the board of directorsDirector
Director
Director
Director
Director
Director
Director
Director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
President Kennedypark(Kor) 8A bte 1, 8500 KortrijkCurrent
accounts 2025
Accounts 2025 · 2026-00173886
Vaarnewijkstraat 17, 8530 Harelbeke
accounts 2023 → 2024
Accounts 2024 · 2025-00159743
Sint-Maartenstraat 5, 3000 Leuven
accounts 2021 → 2022
Accounts 2022 · 2023-00129816

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
NorthwindCurrent
accounts 2010 → 2025
Accounts 2025 · 2026-00173886
ELDEPASCO
accounts 2008 → 2009
Accounts 2009 · 2010-12700346

Events

  1. 15/05/2026
    nominationPeter Jans · bestuurder
  2. 15/05/2026
    nominationLudo Kelchtermans · bestuurder
  3. 15/05/2026
    nominationRik Van de Walle · bestuurder
  4. 15/05/2026
    nominationDavid De Brabant · bestuurder
  5. 15/05/2026
    nominationPhilippe Awouters · bestuurder
  6. 15/05/2026
    nominationKenta Nishikawa · bestuurder
  7. 15/05/2026
    nominationSilja Wiebe · bestuurder
  8. 15/05/2026
    nominationReiko Matsuura · bestuurder
  9. 15/05/2026
    nominationElie Janssens · commissaris (vertegenwoordiger van Grant Thornton Bedrijfsrevisoren)
  10. 2025
    Annual accounts 202524,8 M €↑
  11. 09/12/2025
    nominationReiko Matsuura · bestuurder
  12. 25/06/2025
    nominationSilja Wiebe · bestuurder
  13. 16/05/2025
    nominationChristoph Mertens · bestuurder
  14. 16/05/2025
    nominationDavid De Brabant · bestuurder
  15. 16/05/2025
    nominationPhilippe Awouters · bestuurder
  16. 2024
    Annual accounts 202423,2 M €↓
  17. 09/12/2024
    nominationDavid De Brabant · bestuurder
  18. 14/06/2024
    nominationChristoph Mertens · bestuurder
  19. 2023
    Annual accounts 202330,3 M €↑
  20. 19/05/2023
    nominationTakashi Aota · bestuurder
  21. 19/05/2023
    nominationFrancis Boelens · vaste vertegenwoordiger (commissaris)
  22. 2022
    Annual accounts 2022-4,9 M €↓
  23. 20/05/2022
    nominationMathias Van Steenwinkel · bestuurder
  24. 20/05/2022
    nominationPeter Caluwaerts · bestuurder
  25. 2021
    Annual accounts 20212,5 M €↓
  26. 2020
    Annual accounts 202026,6 M €↑
  27. 2019
    Annual accounts 201922,9 M €↑
  28. 2018
    Annual accounts 201816,3 M €↑
  29. 2017
    Annual accounts 20175 M €↓
  30. 2016
    Annual accounts 201619,1 M €↓
  31. 2015
    Annual accounts 201540 M €↑
  32. 2014
    Annual accounts 201413,4 M €↑
  33. 2012
    Annual accounts 2012-272,3 k €↑
  34. 2011
    Annual accounts 2011-950,7 k €↓
  35. 2010
    Annual accounts 2010-301,6 k €↓
  36. 2010
    Name changeNorthwind
  37. 2009
    Annual accounts 2009-23,3 k €↓
  38. 2008
    Annual accounts 2008-3,2 k €
  39. 13/12/2007
    IncorporationPublic limited company