UPscale
ActiveSummary
UPscale has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €75.6m and a net result of €2.0m. Equity remains stable across the filed fiscal years (±1.6% per year). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability40▼-7
Solvency69▼-11
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity short (current ratio 0.12 against 0.03 in 2024; short-term debt: 55.8% and cash: 0.7% of total assets), and 55.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
44.1%
Return on assets
1.2%
Age of the figures
18 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 08-10-2025, 23 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
23 d early
2024
45 d early
2023
36 d early
2022
18 d early
2021
26 d early
2020
25 d late
2019
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 18 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 5 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€75.6m▲ 0.7%
2024 · €75.0m
Total assets
€171.2m▲ 26.0%
2024 · €135.9m
Net result
€2.0m▼ 60.8%
2024 · €5.2m
Working capital
-€84.3m▼ 43.5%
2024 · -€58.8m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€12.7m€5.8m▼ 54.4%€5.1m▼ 11.4%€8.4m▲ 63.5%€3.6m▼ 57.7%
Net result€13.1m▼ 62.3%€9.4m▼ 28.0%€4.5m▼ 52.1%€5.2m▲ 15.0%€2.0m▼ 60.8%
Equity€73.3m▲ 9.1%€74.7m▲ 2.0%€74.7m=€75.0m▲ 0.4%€75.6m▲ 0.7%
Total assets€129.5m▲ 43.8%€205.0m▲ 58.3%€198.9m▼ 2.9%€135.9m▼ 31.7%€171.2m▲ 26.0%
Debt€56.2m▲ 146%€130.3m▲ 132%€124.2m▼ 4.7%€60.9m▼ 51.0%€95.7m▲ 57.1%
Working capital-€55.6m▼ 144%-€128.1m▼ 130%-€115.3m▲ 10.0%-€58.8m▲ 49.0%-€84.3m▼ 43.5%
Staff (FTE)000
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 58% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €171.2m
Fixed assets
€160.0m ▲ 19.6%
Current assets
€11.2m ▲ 428%
Equity and liabilities €171.2m
Equity
€75.6m ▲ 0.7%
Debt
€95.7m ▲ 57.1%
Debt's share of the balance-sheet total rises from 44.8% to 55.9%. Equity and debt are higher.
Key figures and ratios
Current ratio
0.12▲
2024 · 0.03
Debt to equity
1.27▲
2024 · 0.81
ROE
2.7%▼
2024 · 6.9%
ROA
1.2%▼
2024 · 3.8%
Debt ≤ 1 year
€95.6m▲
2024 · €60.9m
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 | - | €5.6m | €4.9m | €8.3m | €3.5m | ▼ 57.8% |
| Other operating charges640/8 | - | €1,061 | €1,313 | €1,202 | €1,215 | ▲ 1.0% |
| Non-recurring operating charges66A | - | - | - | €3,000 | €0 | ▼ 100% |
| Gross operating margin9900 | €12.7m | €5.8m | €5.1m | €8.4m | €3.6m | ▼ 57.7% |
| Operating profit (loss)9901 | €12.7m | €5.8m | €5.1m | €8.4m | €3.6m | ▼ 57.7% |
| Financial income75/76B | - | €4.2m | €64,604 | €7,620 | €3,300 | ▼ 56.7% |
| Recurring financial income75 | €833,327 | €4.2m | €64,604 | €7,620 | €3,300 | ▼ 56.7% |
| Financial charges65/66B | - | €504,626 | €673,866 | €3.2m | €1.5m | ▼ 52.6% |
| Recurring financial charges65 | €414,623 | €504,626 | €673,866 | €1.4m | €1.5m | ▲ 8.5% |
| Non-recurring financial charges66B | - | €0 | - | €1.8m | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €13.1m | €9.4m | €4.5m | €5.2m | €2.0m | ▼ 60.8% |
| Profit (loss) for the period9904 | €13.1m | €9.4m | €4.5m | €5.2m | €2.0m | ▼ 60.8% |
| Transfer from tax-exempt reserves789 | - | €0 | €71,200 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €13.4m | €9.4m | €4.6m | €5.2m | €2.0m | ▼ 60.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €129.5m | €205.0m | €198.9m | €135.9m | €171.2m | ▲ 26.0% |
| Fixed assets21/28 | €128.9m | €202.9m | €190.1m | €133.8m | €160.0m | ▲ 19.6% |
| Financial fixed assets28 | €128.9m | €202.9m | €190.1m | €133.8m | €160.0m | ▲ 19.6% |
| Current assets29/58 | €560,029 | €2.1m | €8.8m | €2.1m | €11.2m | ▲ 428% |
| Amounts receivable within one year40/41 | - | €364,500 | €1.9m | €1.7m | €10.0m | ▲ 508% |
| Other amounts receivable41 | - | €364,500 | €1.9m | €1.7m | €10.0m | ▲ 508% |
| Cash at bank and in hand54/58 | €517,370 | €70,634 | €6.9m | €481,026 | €1.2m | ▲ 153% |
| Deferred charges and accrued income490/1 | - | €1.7m | €1,294 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €129.5m | €205.0m | €198.9m | €135.9m | €171.2m | ▲ 26.0% |
| Equity10/15 | €73.3m | €74.7m | €74.7m | €75.0m | €75.6m | ▲ 0.7% |
| Contributions10/11 | - | €18.6m | €18.6m | €18.6m | €18.6m | = |
| Reserves13 | €54.7m | €56.1m | €56.1m | €56.5m | €57.0m | ▲ 1.0% |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | €71,200 | €0 | - | - | - |
| Distributable reserves133 | - | €56.1m | €56.1m | €56.5m | €57.0m | ▲ 1.0% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €56.2m | €130.3m | €124.2m | €60.9m | €95.7m | ▲ 57.1% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €56.2m | €130.2m | €124.1m | €60.9m | €95.6m | ▲ 57.0% |
| Current portion of amounts payable after more than one year42 | - | €8.0m | €9.3m | €0 | - | - |
| Financial debts43 | - | €23.0m | €18.0m | €35.0m | €33.0m | ▼ 5.7% |
| Credit institutions430/8 | - | €23.0m | €18.0m | €35.0m | €33.0m | ▼ 5.7% |
| Trade debts44 | €1,523 | €4,445 | €0 | - | - | - |
| Suppliers440/4 | - | €4,445 | €0 | - | - | - |
| Advances received on contracts in progress46 | - | €20.3m | €61.8m | €11.4m | €21.2m | ▲ 85.3% |
| Other amounts payable47/48 | - | €78.9m | €35.1m | €14.5m | €41.4m | ▲ 186% |
| Accrued charges and deferred income492/3 | - | €80,784 | €56,170 | €9,615 | €72,707 | ▲ 656% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13.1m | €9.4m | €4.5m | €5.2m | €2.0m | ▼ 60.8% |
| Operating cash flow (approximation) | €13.1m | €9.4m | €4.5m | €5.2m | €2.0m | ▼ 60.8% |
| Investment in fixed assets (approximation) | - | -€74.0m | €12.8m | €56.3m | -€26.2m | ▼ 147% |
| Change in cash | - | -€446,736 | €6.8m | -€6.4m | €737,325 | ▲ 111% |
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
2026
28-09
State Gazette act
Director resignation · Permanent representative
Director discharge · Director appointment
2025
08-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Weakest financial yearnet €2.0m ▼60.8%
Net result drops to €2.0m, the lowest in the series.
2024
16-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
13-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
05-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
25-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 25 days late
31-03
Financial
Highest result since 2019net €34.8m ▲225%
Net result €34.8m, the highest in the series.
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Gent · 1 establishment unit since 2013
Ground area
1.5 ha
Building footprint
5,962 m²
Volume, LiDAR
226 m³
Parcel 44062A0312/00C000, Flanders · tallest building 1.8 m. Linked by address, not a title deed.
72
companies at this address
See who is registered here
1 establishment unit
UPscale
since 20132.226.209.584
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062A0312/00C000 | Flanders | 1.5 ha | 1 · 5,962 m² | 1.8 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
648805NAZ2M2P8X49L18
Identification & contact
Identification
Legal formPrivate limited company
Founded27-01-2014
Fiscal year end31-03
E-invoicing
Reachable via Peppol
Peppol ID
0208:0544749822
Registered
22-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.