UPGRADE WORKS
The computed 12-month bankruptcy probability of UPGRADE WORKS is 4.9% (elevated). The 2025 annual accounts show equity of €192k and a net result of €35k. Equity is growing by ~49.7% per year across the filed fiscal years. Its solvency ranks better than 74% of 2905 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €192k |
| Net result | €35k |
| Better than sector | 74% |
| Active | 4 yrs |
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 64.0% | 43.4% | |
| Net result | €35k | €13k | |
| Equity | €192k | €44k | |
| Gross operating margin | €173k | €39k | |
| Staff costs | €77k | €30k |
Show 11 other metrics
| Fiscal year | 2025 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €90k |
| Net profit | €35k |
| Cash flow | €71k |
| Staff costs | €77k |
| Income taxes | €15k |
| Dividends | - |
| Total assets | €299k |
| Equity | €192k |
| Debt | €108k |
| of which ≤ 1y | €85k |
| of which > 1y | €22k |
| Working capital | €129k |
| Employees (FTE) | - |
| 2025 | |
|---|---|
| Current ratio | 2.52 |
| Quick ratio | 2.47 |
| Working capital ratio | 43.1% |
| Solvency | 64.0% |
| Debt / equity | 0.56 |
| Long-term debt ratio | 0.12 |
| Interest coverage | 14.32 |
| Gross margin | - |
| Net margin | - |
| ROA | 11.8% |
| ROE | 18.4% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts (24 line items)
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €299k |
| Fixed assets | 21/28 | €85k |
| Tangible fixed assets | 22/27 | €82k |
| Financial fixed assets | 28 | €3k |
| Current assets | 29/58 | €214k |
| Stocks & contracts in progress | 3 | €4k |
| Amounts receivable within one year | 40/41 | €63k |
| Cash & bank | 54/58 | €126k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €299k |
| Equity | 10/15 | €192k |
| Contributions / capital | 10/11 | €10k |
| Reserves | 13 | €176k |
| Amounts payable | 17/49 | €108k |
| Amounts payable after one year | 17 | €22k |
| Amounts payable within one year | 42/48 | €85k |
| Trade debts payable within one year | 44 | €24k |
| Income statement | ||
| Gross operating margin | 9900 | €173k |
| Operating result | 9901 | €55k |
| Financial income | 75 | €2k |
| Financial charges | 65 | €6k |
| Result before taxes | 9903 | €50k |
| Income taxes | 67/77 | €15k |
| Net result for the period | 9904 | €35k |
| Result to be appropriated | 9905 | €35k |
-
Current01-10-2023 → present
| NACE primary | Dakwerkzaamheden(43410) |
| Legal form | Private limited company(610) |
| Incorporation | 25-04-2022 |
| Status | Active |
| Postal code | 1180 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22001A0066/00C002 | Flanders | 7,226 m² | 1 · 2,505 m² | 10.6 m · 1 fl. |
| 21002A0165/00C010 | Brussels | 286 m² | 1 · 95 m² | 14.6 m · 4 fl. |
| 21616G0149/00W012 | Brussels | 163 m² | 1 · 77 m² | 13.9 m · 4 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
12-11-2025 Registered office moved from Auderghem to Uccle
- Rue Gustave Jean Leclercq 23, 1160 Auderghem → Avenue Guillaume Herinckx 32, 1180 Uccle
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "statutaire",
"new_address": {
"city": "Uccle",
"region": "Brussels",
"street": "Avenue Guillaume Herinckx",
"country": "BE",
"postcode": "1180",
"box_number": "1",
"street_number": "32"
},
"old_address": {
"city": "Auderghem",
"region": "Brussels",
"street": "Rue Gustave Jean Leclercq",
"country": "BE",
"postcode": "1160",
"box_number": null,
"street_number": "23"
},
"effective_date": "2025-10-01",
"evidence_quote": "L\u0027assembl\u00E9e d\u00E9cide de transf\u00E9rer le si\u00E8ge de la soci\u00E9t\u00E9, avec effet au 1er octobre 2025, \u00E0 l\u0027adresse suivante : Avenue Guillaume Herinckx, 32/1 \u00E0 1180 Uccle"
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0785.389.105",
"name_full": "UPGRADE WORKS",
"legal_form": "SRL"
}
}09-10-2023 Victor De Ripainsel appointed as director
- Victor De Ripainsel, Bestuurder
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Victor De Ripainsel",
"address": null,
"birth_date": null
},
"effective_date": "2023-10-01",
"evidence_quote": "Un mandat d\u0027administrateur est propos\u00E9 \u00E0 Monsieur Victor De Ripainsel (Num\u00E9ro National: 99.05.23-319.38), prenant cours le 1er octobre 2023 pour une p\u00E9riode ind\u00E9termin\u00E9e, conform\u00E9ment \u00E0 l\u0027article 11 des statuts. Le pr\u00E9cit\u00E9 accepte, est nomm\u00E9 administrateur et prendra ses fonctions le 1er octobre 202"
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0785.389.105",
"name_full": "UPGRADE WORKS",
"legal_form": "SRL"
}
}27-04-2022 Incorporation of a new SRL
Technical details
{
"kind": "oprichting",
"seat": "Rue Gustave Jean Leclercq 23, 1160 Auderghem",
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"founders": [
{
"org": null,
"kind": "natural_person",
"person": {
"dob": null,
"name": "MOULART Benjamin",
"niss": null,
"address": "Auderghem (1160 Bruxelles), rue Gustave-Jean Leclercq 23"
},
"share_class": "actions",
"partner_role": null,
"holder_org_kbo": null,
"holder_org_name": null,
"contribution_type": "cash",
"amount_paid_in_eur": 5000,
"holder_person_name": "MOULART Benjamin",
"is_subscriber_only": true,
"n_shares_subscribed": 50,
"amount_subscribed_eur": 5000,
"is_anonymous_silent_partner": false
},
{
"org": null,
"kind": "natural_person",
"person": {
"dob": null,
"name": "DE RIPAINSEL Victor",
"niss": null,
"address": "Auderghem (1160 Bruxelles), Avenue de la Sabli\u00E8re 10"
},
"share_class": "actions",
"partner_role": null,
"holder_org_kbo": null,
"holder_org_name": null,
"contribution_type": "cash",
"amount_paid_in_eur": 5000,
"holder_person_name": "DE RIPAINSEL Victor",
"is_subscriber_only": true,
"n_shares_subscribed": 50,
"amount_subscribed_eur": 5000,
"is_anonymous_silent_partner": false
},
{
"org": {
"kbo": "0437.684.982",
"name": "TTS ENTREPRISES"
},
"kind": "rechtspersoon",
"person": null,
"share_class": null,
"partner_role": null,
"holder_org_kbo": "0437.684.982",
"holder_org_name": "TTS ENTREPRISES",
"contribution_type": "cash",
"amount_paid_in_eur": 0,
"holder_person_name": null,
"is_subscriber_only": true,
"n_shares_subscribed": 0,
"amount_subscribed_eur": 0,
"is_anonymous_silent_partner": false
}
],
"capital_eur": 10000,
"subject_company": {
"kbo": "0785.389.105",
"name_full": "UPGRADE WORKS",
"legal_form": "SRL"
},
"initial_directors": [],
"incorporation_date": "2022-04-25",
"post_incorporation_mandates": []
}| Legal nameFR | UPGRADE WORKS |