UPGRADE PROJECTS
ActiveUPGRADE PROJECTS has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7k and a net result of €180k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 13% of 2179 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+100
Solvency27▲+27
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
2.1%
Return on assets
56%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 2179 sector peers (2025).
NBB · sector comparisonPosition among 2179 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
1 d early
2023
33 d early
2022
41 d early
2021
17 d early
2020
12 d early
2019
24 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€7k
2024 · €-174k
2018: €168k
2019: €233k
2020: €67k
2021: €76k
2022: €120k
2023: €-56k
2024: €-174k
2018 → 2025
Total assets
€322k▲ 6.2%
2024 · €303k
2018: €341k
2019: €501k
2020: €470k
2021: €537k
2022: €558k
2023: €409k
2024: €303k
2018 → 2025
Net result
€180k
2024 · €-118k
2018: €29k
2019: €70k
2020: €-166k
2021: €9k
2022: €62k
2023: €-176k
2024: €-118k
2018 → 2025
Working capital
€64k
2024 · €-72k
2018: €137k
2019: €237k
2020: €43k
2021: €146k
2022: €181k
2023: €150k
2024: €-72k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€76k-€120k▲ 58.5%€-56k€-174k▼ 210%€7k
Operating result€13k-€74k▲ 483%€-162k€-104k▲ 36.2%€192k
Net result€9k-€62k▲ 606%€-176k€-118k▲ 33.1%€180k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €192k after a loss of €104k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €322k
Fixed assets
€14k▲ 1.3%
Current assets
€309k▲ 6.4%
Equity and liabilities €322k
Equity
€7k
Debt
€315k
Debt finances 97.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€194k▲
2024 · €-101k
Cash flow
€183k▲
2024 · €-115k
Solvency
2.1%▲
2024 · -57.2%
Current ratio
1.26▲
2024 · 0.80
Quick ratio
1.08▲
2024 · 0.80
Debt / equity
46.46▲
2024 · -2.75
ROA
56.0%▲
2024 · -38.8%
Interest coverage
14.79▲
2024 · -4.29
Debt
€315k▼
2024 · €477k
Debt ≤ 1 year
€245k▼
2024 · €362k
Debt > 1 year
€70k▼
2024 · €114k
Income taxes
€668▲
2024 · €641
Staff costs
€280k▲
2024 · €237k
A ratio outside any meaningful range has been withheld (balance sheet total €322k, equity €7k).
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€303k€322k▲
Fixed assets21/28€14k€14k▲
Intangible fixed assets21€2k€2k▼
Tangible fixed assets22/27€4k€5k▲
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€1k€3k▲
Financial fixed assets28€8k€8k=
Current assets29/58€290k€309k▲
Amounts receivable after more than one year29€91k€14k▼
Other amounts receivable291€91k€14k▼
Stocks and contracts in progress3-€45k
Stocks30/36-€45k
Amounts receivable within one year40/41€138k€181k▲
Trade receivables40€112k€51k▼
Other amounts receivable41€26k€129k▲
Cash at bank and in hand54/58€0€25k▲
Deferred charges and accrued income490/1€60k€43k▼
Equity and liabilities
Total equity and liabilities10/49€303k€322k▲
Equity10/15€-174k€7k▲
Contributions10/11€1k€1k=
Reserves13€119k€119k=
Distributable reserves133€119k€119k=
Profit (loss) carried forward14€-294k€-113k▲
Amounts payable17/49€477k€315k▼
Amounts payable after more than one year17€114k€70k▼
Financial debts170/4€114k€70k▼
Amounts payable within one year42/48€362k€245k▼
Current portion of amounts payable after more than one year42€52k€45k▼
Financial debts43€4k€0▼
Credit institutions430/8€4k€0▼
Trade debts44€200k€148k▼
Suppliers440/4€200k€148k▼
Taxes, remuneration and social security45€103k€52k▼
Taxes450/3€26k€6k▼
Remuneration and social security454/9€77k€46k▼
Other amounts payable47/48€2k€0▼
Accrued charges and deferred income492/3€305€782▲
Income statement
Code20242025
Remuneration, social security and pensions62€237k€280k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Other operating charges640/8€13k€26k▲
Non-recurring operating charges66A€3k€0▼
Gross operating margin9900€153k€500k▲
Operating profit (loss)9901€-104k€192k▲
Financial income75/76B€10k€3k▼
Recurring financial income75€10k€3k▼
Financial charges65/66B€24k€13k▼
Recurring financial charges65€24k€13k▼
Profit (loss) for the period before taxes9903€-117k€181k▲
Income taxes67/77€641€668▲
Profit (loss) for the period9904€-118k€180k▲
Profit (loss) for the period to be appropriated9905€-118k€180k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-294k€-113k▲
Profit (loss) brought forward from the previous period14P€-176k€-294k▼
Social balance
Average headcount (FTE)90873.33.8▲
The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €180k
Net result €180k after 2 loss-making years.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-176k ▼384%
Net result drops to €-176k, the lowest in the series; recovery starts the following year.
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €100kEq €120k ▲58.5%
2 profitable years in a row build equity to €120k.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €200kEq €233k ▲38.3%
2 profitable years in a row build equity to €233k.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Kortrijk · 1 establishment unit since 2008
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Zusters Lovelingstraat(Mar) 258510 KortrijkGround area
924 m²
Building footprint
182 m²
Volume, LiDAR
1,044 m³
Parcel 34026B0390/00F000, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
UPGRADE PROJECTS
since 20082.171.445.067
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34026B0390/00F000 | Flanders | 924 m² | 1 · 182 m² | 9.1 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 1,581 EUR awarded · 1,490 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 369 EUR | 293 EUR |
| 2024 | 1 | 294 EUR | 278 EUR |
| 2023 | 1 | 576 EUR | 851 EUR |
| 2022 | 1 | 342 EUR | 68 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 29,801 companies in sector 41001 we hold annual accounts for 16,050. 7,701 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-03-2008
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
43910Bricklaying and masonry work
43994Specialised construction activities
41003General construction of other non-residential buildings
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.