Summary
SCALE UP is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €4.5m and a net result of -€19,499. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 95% of 2413 sector peers (fiscal year 2025). The company has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 20-11-2025, 72 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
72 d early
2024
19 d late
2023
1 d early
2022
54 d early
2021
3 d early
2020
4 d early
2019
136 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#8 oldest company in Ottignies-Louvain-la-Neuve, Finance and insurance sector#9 company by equity in Ottignies-Louvain-la-Neuve, Finance and insurance sector
Equity
€4.5m▼ 0.4%
2024 · €4.5m
Net result
-€19,499▲ 98.4%
2024 · -€1.2m
Total assets
€4.5m▼ 0.3%
2024 · €4.6m
Solvency
99.5%▼ 0.1pp
2024 · 99.6%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€35,748€526,548▲ 1,373%-€488,868-€116,606▲ 76.1%-€21,782▲ 81.3%
Net result€45,963within the sector's middle half€226,956within the sector's middle half▲ 394%-€477,305below the sector's middle half-€1.2mbelow the sector's middle half▼ 151%-€19,499below the sector's middle half▲ 98.4%
Equity€5.3mwithin the sector's middle half▲ 0.9%€5.4mwithin the sector's middle half▲ 2.4%€1.5mwithin the sector's middle half▼ 72.7%€4.5mabove the sector's middle half▲ 208%€4.5mwithin the sector's middle half▼ 0.4%
Total assets€5.4mwithin the sector's middle half▲ 2.3%€5.5mwithin the sector's middle half▲ 2.4%€1.5mbelow the sector's middle half▼ 73.1%€4.6mabove the sector's middle half▲ 208%€4.5mwithin the sector's middle half▼ 0.3%
Debt€41,742▲ 42.5%€29,519▼ 29.3%€4,514▼ 84.7%€17,982▲ 298%€24,297▲ 35.1%
Working capital€2.2m▲ 4.2%€3.8m▲ 75.0%€851,457▼ 77.7%€368,860▼ 56.7%€429,362▲ 16.4%
Solvency98.0%above the sector's middle half▼ 1.4pp98.1%above the sector's middle half▲ 0.1pp99.7%above the sector's middle half▲ 1.6pp99.6%above the sector's middle half▼ 0.1pp99.5%above the sector's middle half▼ 0.1pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result +98% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
- 2024 Net result -151% on 2023. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21,782 in 2025 against €116,606 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.5m
Fixed assets
€4.1m ▼ 1.9%
Current assets
€453,658 ▲ 17.3%
Equity and liabilities €4.5m
Equity
€4.5m ▼ 0.4%
Debt
€24,297 ▲ 35.1%
Debt's share of the balance-sheet total rises from 0.4% to 0.5%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-0.4%▲
2024 · -26.4%
ROA
-0.4%▲
2024 · -26.3%
Debt ≤ 1 year
€24,297▲
2024 · €17,982
Income taxes
€0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €729,645 | €103,701 | - | - | - |
| Remuneration, social security and pensions62 | - | €386 | €113 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,100 | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €30,000 | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €11,807 | -€76,531 | - | - | - |
| Other operating charges640/8 | - | €445 | €1,230 | €968 | €1,098 | ▲ 13.5% |
| Non-recurring operating charges66A | - | - | €636,540 | - | - | - |
| Gross operating margin9900 | €110,701 | €569,186 | €72,484 | -€115,639 | -€20,684 | ▲ 82.1% |
| Operating profit (loss)9901 | €35,748 | €526,548 | -€488,868 | -€116,606 | -€21,782 | ▲ 81.3% |
| Financial income75/76B | - | €7,909 | €14,182 | €5,123 | €2,618 | ▼ 48.9% |
| Recurring financial income75 | €10,392 | €7,909 | €14,182 | €5,123 | €2,618 | ▼ 48.9% |
| Financial charges65/66B | - | €307,502 | €2,619 | €1.1m | €335 | ▼ 100.0% |
| Recurring financial charges65 | €177 | €6,752 | €2,619 | €194 | €335 | ▲ 72.4% |
| Non-recurring financial charges66B | - | €300,750 | - | €1.1m | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €45,963 | €226,956 | -€477,305 | -€1.2m | -€19,499 | ▲ 98.4% |
| Income taxes67/77 | - | €1 | - | - | €0 | - |
| Profit (loss) for the period9904 | €45,963 | €226,956 | -€477,305 | -€1.2m | -€19,499 | ▲ 98.4% |
| Profit (loss) for the period to be appropriated9905 | €49,924 | €226,956 | -€477,305 | -€1.2m | -€19,499 | ▲ 98.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.4m | €5.5m | €1.5m | €4.6m | €4.5m | ▼ 0.3% |
| Fixed assets21/28 | €3.1m | €1.6m | €621,429 | €4.2m | €4.1m | ▼ 1.9% |
| Intangible fixed assets21 | €0 | €0 | €0 | €0 | €0 | - |
| Financial fixed assets28 | €3.1m | €1.6m | €621,429 | €4.2m | €4.1m | ▼ 1.9% |
| Current assets29/58 | €2.2m | €3.9m | €855,971 | €386,843 | €453,658 | ▲ 17.3% |
| Amounts receivable after more than one year29 | - | €186,968 | €6,667 | €0 | - | - |
| Other amounts receivable291 | - | €186,968 | €6,667 | €0 | - | - |
| Amounts receivable within one year40/41 | €146,005 | €175,159 | €40,833 | €70,542 | €87,401 | ▲ 23.9% |
| Trade receivables40 | - | €144,764 | €633 | €17,305 | €10,835 | ▼ 37.4% |
| Other amounts receivable41 | - | €30,395 | €40,201 | €53,237 | €76,565 | ▲ 43.8% |
| Current investments50/53 | €257,183 | €257,183 | €0 | - | - | - |
| Cash at bank and in hand54/58 | €1.6m | €3.2m | €807,964 | €316,301 | €365,219 | ▲ 15.5% |
| Deferred charges and accrued income490/1 | - | €0 | €506 | €0 | €1,038 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.4m | €5.5m | €1.5m | €4.6m | €4.5m | ▼ 0.3% |
| Equity10/15 | €5.3m | €5.4m | €1.5m | €4.5m | €4.5m | ▼ 0.4% |
| Contributions10/11 | - | €5.5m | €2.1m | €6.3m | €6.3m | = |
| Outside capital11 | - | €5.5m | - | - | - | - |
| Other1109/19 | - | €5.5m | - | - | - | - |
| Reserves13 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves not available under the articles1311 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | €0 | €0 | - | - | - |
| Profit (loss) carried forward14 | -€371,191 | -€144,236 | -€621,540 | -€1.8m | -€1.8m | ▼ 1.1% |
| Provisions and deferred taxes16 | €64,725 | €76,531 | €0 | - | - | - |
| Provisions for liabilities and charges160/5 | - | €76,531 | €0 | - | - | - |
| Environmental obligations163 | - | €76,531 | €0 | - | - | - |
| Amounts payable17/49 | €41,742 | €29,519 | €4,514 | €17,982 | €24,297 | ▲ 35.1% |
| Amounts payable within one year42/48 | €41,742 | €26,551 | €4,514 | €17,982 | €24,297 | ▲ 35.1% |
| Trade debts44 | €39,388 | €26,551 | €3,876 | €17,871 | €24,171 | ▲ 35.2% |
| Suppliers440/4 | - | €26,551 | €3,876 | €17,871 | €24,171 | ▲ 35.2% |
| Taxes, remuneration and social security45 | - | €0 | €584 | €0 | €0 | - |
| Taxes450/3 | - | €0 | €584 | €0 | - | - |
| Other amounts payable47/48 | - | €0 | €55 | €111 | €126 | ▲ 13.2% |
| Accrued charges and deferred income492/3 | - | €2,967 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,963 | €226,956 | -€477,305 | -€1.2m | -€19,499 | ▲ 98.4% |
| + Depreciation and write-downs630 | €7,100 | - | - | - | - | - |
| Operating cash flow (approximation) | €53,063 | €226,956 | -€477,305 | -€1.2m | -€19,499 | ▲ 98.4% |
| Investment in fixed assets (approximation) | - | €1.5m | €1.0m | -€3.5m | €80,000 | ▲ 102% |
| Change in cash | - | €1.6m | -€2.4m | -€491,664 | €48,919 | ▲ 110% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
20-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 19 days late
19-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 19 days late
2024
30-06
Financial
Weakest financial yearnet -€1.2m
Net result drops to -€1.2m, the lowest in the series; recovery starts the following year.
30-06
Financial
Equity above €2mEq €4.5m ▲208%
Equity rises from €1.5m to €4.5m.
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
08-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
30-06
Financial
Highest result since 2019net €226,956 ▲394%
Operating result €526,548, net result €226,956, both a record.
30-06
Financial
Liquidity triplescurrent ratio 145.09
Current ratio from 53.37 to 145.09; short-term debt falls from €41,742 to €26,551.
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-06
Financial
Back to profitnet €45,963
Net result €45,963 after 2 loss-making years.
27-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
22-01
State Gazette act
General meeting · Merger
Dissolution · Accounting effect
2020
30-06
Financial
Equity above €5mEq €5.2m ▲29.4%
Equity rises from €4.0m to €5.2m.
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 136 days late
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
17-07
State Gazette act
General meeting · Merger
Power of attorney · Share cancellation · Panneels Liliane
20-03
State Gazette act
General meeting · Statutes amendment
Capital increase · Bank account
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2016
12-07
State Gazette act
General meeting · Capital decrease
Capital increase · Capital
09-05
State Gazette act
General meeting · Statutes amendment
Power of attorney · Board composition
2015
05-10
State Gazette act
Incorporation · Founding capital
Bank account · Corporate purpose
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
15 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ottignies-Louvain-la-Neuve · 1 establishment unit since 1994
Ground area
1,801 m²
Building footprint
174 m²
Volume, LiDAR
871 m³
2 parcels, Brussels, Wallonia · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
28
companies at this address
See who is registered here
1 establishment unit
SERVOR SA
since 19942.058.884.584
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25385B0003/05A000 | Wallonia | 1,690 m² | 1 · 85 m² | - |
| 21017D0191/00D002 | Brussels | 111 m² | 1 · 89 m² | 11.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
3 owners · 1 holdingOwners 3
-
21%
- 18.6%
-
12.07%
Holdings 1
- Sourceact 17-07-2018share not stated
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
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Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
26 locations
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 8,467 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-08-1992
Fiscal year end30-06
Activities, NACEBEL 2025
64210Activities of holding companies
66199Other activities auxiliary to financial services, excluding insurance and pension funding
68110Buying and selling of own real estate
68121Development of residential building projects
68122Development of non-residential building projects
70200Business and other management consultancy
73300Public relations and communication consultancy
Contact
Website
www.scale-up.fund
E-mail
info@scale-up.fund
E-invoicing
Reachable via Peppol
Peppol ID
0208:0447999151
Also
9925:BE0447999151
Registered
05-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
1 convocationOrdinary general meeting
Agenda
- Rapport de l’administrateur délégué. - Examen et approbation des comptes annuels arrêtés au 31.12.2013. - Affectation du résultat. - Décharge à donner aux administrateurs quant à l’exercice de leur mandat. - Divers. (AOPC-1-14-00249/ 13.05)