Equity
€7.0m ▲ 2.8%
UPGRADE ESTATE has made a profit in every financial year since 2013.
UPGRADE ESTATE
Lifetime
13 annual accounts with figures on one time axispeak €4.3m (2021)
-not published
peak €2.9m (2016)
€193,774▲ 21×
peak €7.0m (2026)
€7.0m▲ 2.8%
€19.7m▲ 18.1%
peak 43.6 FTE (2023)
39.1 FTE▲ 11.1%
Board10 names since 2017
3 directors and 2 others
Owners2 names in the annual accounts
consolidates
Documentsfilings and deeds
28-09-202633 days before the deadline
2026financial year
Result from €9,165 to €193,774Staff from 35.2 FTE to 39.1 FTEDebts from €16.7m to €19.7mCash from €336,914 to €218,110
Key points
from the 2026 annual accountsResult
€193,774 ▲ 21×
The result rose in 2026 from €9,165 to €193,774.
Debts
€19.7m 71% of the balance sheet
Suppliers 41%Taxes and wages 3%Other 56%
Of this, €19.6m falls due within a year.
Payment terms
103 days to suppliers
UPGRADE ESTATE pays its suppliers 37 days earlier than in 2025. Customers pay 39 days earlier.
Filings
13 annual accounts since 2013
The 2016 accounts came 28 days late. The other nine of the last ten were filed on time.
At the same address
72 companies
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 4,107 companies had the same profile as UPGRADE ESTATE has now. Each dot stands for 11 companies, two years later.
97.9%
were still trading
0.9%
stopped another way
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,762 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,107 companies, not a prediction for UPGRADE ESTATE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Board and ownership
Managing director,
Director, since 29-06-2020
Director
Director, , since 31-10-2023
Auditor,
- consolidatesannual accounts 31-03-2026
Recent changes
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Gent
Environmental permit granted
Verbouwen en/of uitbreiden met het wijzigen van alle zelfstandige gebruikseenheden (unit) binnen het gebouw · Gent
Reappointment: (statutory auditor)
General meeting of 29-01-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0840066124
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| UPGRADE ESTATE Ghent | €26.5m | 1.4% | 25.4% | 39.1 |
| PHENIX GROUP Tubize | €30.0m | 2.7% | 8.7% | 40.6 |
| VAN DE WALLE INDUSTRIAL BUILDING CONTRACTOR Aalter | €61.5m | 6.5% | 33.9% | 50.4 |
| ISOCAB CONSTRUCT Ingelmunster | €26.9m | 1.9% | 19.5% | 65.5 |
| WILLY NAESSENS GENERAL CONTRACTOR Tessenderlo-Ham | €33.7m | 1.5% | 19.0% | 31.6 |
| JOHAN MICHIELSEN BEDRIJFSGEBOUWEN Hoogstraten | €27.1m | 1.7% | 86.7% | 32.3 |
| BERNARD CONSTRUCTION Villers-le-Bouillet | €30.3m | 3.5% | 4.2% | 42.9 |
Grey: the largest companies of the sector (construction of buildings (NACE 41)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as UPGRADE ESTATE: general construction of other non-residential buildings (NACE 41003). They are comparable in size and age: total assets between €14m and €29m, founded between 1997 and 2012.
Official details
Source: KBO- Status
- Active since 29-09-2011Normal situation
- Registered office
- 73 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 14 November 2026.
- Activity
- General construction of other non-residential buildingsNACE 41003and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 31-03-2026
- Establishment unit
- 2.205.195.2289051 Ghent, since 29-09-2011
- Financial year end
- 31 March
- Peppol
- Reachable since 22-05-2025
Annual accounts to 31-03-2026
- €27.6m▲ 10.3%
- Employeeson 31-03-2026
- 40▼ 7.0%
- Filing
- Filed on 28-09-2026, 33 days before the end of the filing period
Insights on UPGRADE ESTATE
UPGRADE ESTATE has existed since 2011. The gross margin fell from €3.1m in 2016 to €987,390 in 2018.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about UPGRADE ESTATE
- What is the company number of UPGRADE ESTATE?
- The company number of UPGRADE ESTATE is 0840.066.124. The VAT number is the same number with BE in front: BE 0840.066.124.
- Where is UPGRADE ESTATE based?
- The registered office is at Amelia Earhartlaan 2, 9051 Ghent.Company details
- What does UPGRADE ESTATE do?
- According to the KBO register, the main activity is general construction of other non-residential buildings (NACE 41003).
- What is the legal form of UPGRADE ESTATE?
- UPGRADE ESTATE is a public limited company (NV).
- When was UPGRADE ESTATE founded?
- UPGRADE ESTATE was founded on 29-09-2011.
- Is UPGRADE ESTATE still active?
- Yes, UPGRADE ESTATE is an active enterprise in the KBO register.
- How many employees does UPGRADE ESTATE have?
- UPGRADE ESTATE had an average of 39.1 full-time equivalents in financial year 2026, according to the filed annual accounts.Financials
- Which joint committee does UPGRADE ESTATE fall under?
- In its 31-03-2026 annual accounts, UPGRADE ESTATE states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of UPGRADE ESTATE?
- The turnover of UPGRADE ESTATE was €26.5m in financial year 2026, according to the filed annual accounts.
- Is UPGRADE ESTATE profitable?
- In financial year 2026, UPGRADE ESTATE made a profit of €193,774.
- Where can I find the annual accounts of UPGRADE ESTATE?
- UPGRADE ESTATE filed 13 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
- When are the next annual accounts of UPGRADE ESTATE due?
- UPGRADE ESTATE must file the annual accounts for financial year 2027 by 31-10-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence See whether the workforce is growing and whether people stay.Employer check Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check
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