Financials
- Financial year
- 2025
- Total assets
- €299,267
- Profit
- €35,206
- Solvency
- 64.0%
Total assets▲ 28.7%
Net result
20222025
UPGRADE WORKS
ActiveSummary
UPGRADE WORKS has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €191,598 and a net result of €35,206. Equity is growing by about 50% per year across the filed financial years. Its solvency ranks better than 69% of 34,699 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
Activity
Roofing work
NACE 43410Joinery installation NACE 43320
2 sites
Size
€299,267total assets 2025
- Equity
- €191,598
- Profit
- €35,206
Turnover not published (micro format)
Why 84raises risk1 change of registered office in 24 monthsFounded in 2022lowers riskLiquidity: current ratio 2.52, cash €125,914Figures for financial year 2025 (filed 20-05-2026)Show the evidence
Checked score
Score 2025
84
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 74% of its sector peers (NACE 43, micro)
Financial strength · tick = 2024
Strong
Solvency
89-1
equity 64.0% of total assets
Liquidity
89+18
short-term debt 28.4% · cash 42.1%
Profitability
83-17
return on assets 11.8%
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.9%
12-2024: 0.9%● unchanged vs 11-2024
01-2025: 0.9%● unchanged vs 12-2024
02-2025: 0.9%● unchanged vs 01-2025
03-2025: 0.9%● unchanged vs 02-2025
04-2025: 0.9%● unchanged vs 03-2025
05-2025: 1.0%▲ +0.1 percentage points vs 04-2025
06-2025: 0.9%▼ -0.1 percentage points vs 05-2025
07-2025: 1.0%▲ +0.1 percentage points vs 06-2025
08-2025: 1.6%▲ +0.6 percentage points vs 07-2025
09-2025: 0.9%▼ -0.7 percentage points vs 08-2025
10-2025: 0.9%● unchanged vs 09-2025
11-2025: 0.9%● unchanged vs 10-2025
12-2025: 1.5%▲ +0.6 percentage points vs 11-2025
01-2026: 1.2%▼ -0.3 percentage points vs 12-2025
02-2026: 1.1%▼ -0.1 percentage points vs 01-2026
03-2026: 1.1%● unchanged vs 02-2026
04-2026: 1.3%▲ +0.2 percentage points vs 03-2026
05-2026: 1.6%▲ +0.3 percentage points vs 04-2026highest value
06-2026: 0.5%▼ -1.1 percentage points vs 05-2026lowest value
07-2026: 0.5%● unchanged vs 06-2026lowest value
08-2026: 0.5%● unchanged vs 07-2026lowest value
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.6%▲ +0.1 percentage points vs 09-2026
Credit of up to €16,000 on 30-day terms is acceptable
Liquidity ample (current ratio 2.52, compared with 2.6 in 2024, above the usual 1.5; short-term debt: 28.4% and cash: 42.1% of total assets), and 36% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 70% on solvency, 86% on liquidity, 66% on profitability and 73% on growth.
The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskraises riskneutral
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 19-05-2026, 73 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
73 days early
2024
26 days late
2023
30 days late
2022
91 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 19 days after the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (3 of the last 4 filed years within 62 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
25-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · micro…
- Registered officeRegistered-office move · Power of…
- Annual accounts filedfinancial year 2024 · micro…
Key points
By topic
Board & ownership
- Board
- 1 member
- Victor De RipainselDirector
Timeline
- Events
- 9
- Since
- 2023
- Next accounts
- by 31-07-2027
- 31-12-2024Equity above €150,000
- 30-08-2024Annual accounts filed
- 31-12-2023Highest result from 2022 to 2025
Company details
- Sites
- 2
- Legal form
- Private limited company
- Activity
- Roofing workNACE 43410
- Founded
- 25-04-2022
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Key facts about UPGRADE WORKS
- What is the company number of UPGRADE WORKS?
- 0785.389.105. In Belgium the VAT number is the company number with BE in front: BE 0785.389.105.
- Where is UPGRADE WORKS based?
- The registered office is at Guillaume Herinckxlaan 32, 1180 Ukkel.Company details
- What does UPGRADE WORKS do?
- According to the KBO register, the main activity is roofing work (NACE 43410).
- What is the legal form of UPGRADE WORKS?
- Private limited company (BV).
- When was UPGRADE WORKS founded?
- On 25-04-2022.
- Is UPGRADE WORKS still active?
- Yes, UPGRADE WORKS is an active enterprise in the KBO register.
- How many employees does UPGRADE WORKS have?
- On average 3.6 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of UPGRADE WORKS?
- Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
- Is UPGRADE WORKS profitable?
- In financial year 2025, UPGRADE WORKS made a profit of €35,206.
- Where can I find the annual accounts of UPGRADE WORKS?
- UPGRADE WORKS filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of UPGRADE WORKS due?
- By 31-07-2027, for financial year 2026.Timeline
Companies related to UPGRADE WORKS
Comparable companies
- MASURE BISLierde
- SOCIÉTÉ DE COUVERTUREZaventem
- TC DAKWERKENAalst
- VOSSEN & SCHOUBS DAKWERKENRiemst
- TOITURES GREGORY PERRANGTintigny
Go further with this company
How much credit can you give this customer, and on what payment terms?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.