UPSIDE DOWN
ActiveSummary
UPSIDE DOWN has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€2,252) and a net result of €1,164. Equity is growing by ~31.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability60▼-40
Solvency4▲+4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.58 against 0.65 in 2023; short-term debt: 121.5% and cash: 5.3% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-21.5%
Return on assets
11.1%
Age of the figures
21 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 31-12-2025 was due by 31-07-2026 and was filed on 23-06-2026, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 d early
2024
8 d late
2023
47 d late
2022
37 d late
2021
59 d late
2020
86 d late
2019
116 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 45 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 6 September (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema, 2025 accounts filed, figures not processed yet
Equity
-€2,252▲ 34.1%
2023 · -€3,416
Total assets
€10,490▼ 13.3%
2023 · €12,100
Net result
€1,164▼ 95.1%
2023 · €23,595
Working capital
-€5,347▲ 2.2%
2023 · -€5,468
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€485▼ 97.1%€33,134▲ 6,734%€18,871▼ 43.0%€24,157▲ 28.0%€2,331▼ 90.4%
Net result-€13,058below the sector's middle half€31,751within the sector's middle half€17,297within the sector's middle half▼ 45.5%€23,595within the sector's middle half▲ 36.4%€1,164within the sector's middle half▼ 95.1%
Equity-€76,059below the sector's middle half▼ 20.7%-€44,308below the sector's middle half▲ 41.7%-€27,011below the sector's middle half▲ 39.0%-€3,416below the sector's middle half▲ 87.4%-€2,252below the sector's middle half▲ 34.1%
Total assets€19,833below the sector's middle half▼ 19.4%€33,376below the sector's middle half▲ 68.3%€37,078below the sector's middle half▲ 11.1%€12,100below the sector's middle half▼ 67.4%€10,490below the sector's middle half▼ 13.3%
Debt€95,892▲ 9.5%€77,683▼ 19.0%€64,089▼ 17.5%€15,515▼ 75.8%€12,741▼ 17.9%
Working capital-€75,699below the sector's middle half▼ 20.2%-€45,483below the sector's middle half▲ 39.9%-€30,091below the sector's middle half▲ 33.8%-€5,468below the sector's middle half▲ 81.8%-€5,347below the sector's middle half▲ 2.2%
Solvency-383.5%below the sector's middle half▼ 127.4pp-132.8%below the sector's middle half▲ 250.7pp-72.8%below the sector's middle half▲ 59.9pp-28.2%below the sector's middle half▲ 44.6pp-21.5%below the sector's middle half▲ 6.8pp
Current ratio0.21below the sector's middle half▼ 0.070.41below the sector's middle half▲ 0.210.53below the sector's middle half▲ 0.120.65below the sector's middle half▲ 0.120.58below the sector's middle half▼ 0.07
Return on assets (ROA)-65.8%below the sector's middle half▼ 127.6pp95.1%above the sector's middle half▲ 161.0pp46.7%above the sector's middle half▼ 48.5pp195.0%above the sector's middle half▲ 148.4pp11.1%within the sector's middle half▼ 183.9pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 90% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10,490
Fixed assets
€3,095 ▲ 50.8%
Current assets
€7,394 ▼ 26.4%
Equity and liabilities
Equity-€2,252
Debt€12,741
Equity is negative: debt (€12,741) exceeds the balance-sheet total (€10,490).
Key figures and ratios
EBITDA
€3,788▼
2023 · €25,605
Cash flow
€2,621▼
2023 · €25,043
Interest coverage
3.25▼
2023 · 45.59
Debt ≤ 1 year
€12,741▼
2023 · €15,515
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,795 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €267 | €807 | €1,448 | €1,457 | ▲ 0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €1,337 | €3,120 | - | - |
| Other operating charges640/8 | - | €955 | €682 | €1,809 | €1,400 | ▼ 22.6% |
| Gross operating margin9900 | €665 | €34,356 | €21,698 | €30,533 | €5,188 | ▼ 83.0% |
| Operating profit (loss)9901 | €485 | €33,134 | €18,871 | €24,157 | €2,331 | ▼ 90.4% |
| Financial charges65/66B | - | €1,383 | €1,428 | €562 | €1,167 | ▲ 108% |
| Recurring financial charges65 | €2,335 | €1,383 | €1,428 | €562 | €1,167 | ▲ 108% |
| Profit (loss) for the period before taxes9903 | -€1,850 | €31,751 | €17,444 | €23,595 | €1,164 | ▼ 95.1% |
| Income taxes67/77 | €11,208 | - | €146 | - | - | - |
| Profit (loss) for the period9904 | -€13,058 | €31,751 | €17,297 | €23,595 | €1,164 | ▼ 95.1% |
| Profit (loss) for the period to be appropriated9905 | -€13,058 | €31,751 | €17,297 | €23,595 | €1,164 | ▼ 95.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €19,833 | €33,376 | €37,078 | €12,100 | €10,490 | ▼ 13.3% |
| Fixed assets21/28 | - | €1,175 | €3,081 | €2,053 | €3,095 | ▲ 50.8% |
| Tangible fixed assets22/27 | - | €1,175 | €3,081 | €2,053 | €3,095 | ▲ 50.8% |
| Plant, machinery and equipment23 | - | - | €1,823 | €1,156 | €489 | ▼ 57.7% |
| Furniture and vehicles24 | - | €1,175 | €1,258 | €896 | €2,606 | ▲ 191% |
| Current assets29/58 | €19,833 | €32,200 | €33,998 | €10,047 | €7,394 | ▼ 26.4% |
| Stocks and contracts in progress3 | €3,247 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €15,906 | €28,783 | €18,409 | €4,858 | €6,727 | ▲ 38.5% |
| Trade receivables40 | - | €27,255 | €13,345 | €891 | €5,480 | ▲ 515% |
| Other amounts receivable41 | - | €1,528 | €5,065 | €3,966 | €1,247 | ▼ 68.6% |
| Cash at bank and in hand54/58 | €2 | €2,435 | €14,653 | €4,301 | €555 | ▼ 87.1% |
| Deferred charges and accrued income490/1 | - | €982 | €935 | €889 | €112 | ▼ 87.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €19,833 | €33,376 | €37,078 | €12,100 | €10,490 | ▼ 13.3% |
| Equity10/15 | -€76,059 | -€44,308 | -€27,011 | -€3,416 | -€2,252 | ▲ 34.1% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€96,510 | -€64,759 | -€47,462 | -€23,867 | -€22,703 | ▲ 4.9% |
| Amounts payable17/49 | €95,892 | €77,683 | €64,089 | €15,515 | €12,741 | ▼ 17.9% |
| Amounts payable within one year42/48 | €95,532 | €77,683 | €64,089 | €15,515 | €12,741 | ▼ 17.9% |
| Financial debts43 | - | €7,347 | €6,856 | €964 | €7,150 | ▲ 642% |
| Credit institutions430/8 | - | €7,347 | €6,856 | €964 | €7,150 | ▲ 642% |
| Trade debts44 | €1,614 | €6,393 | €16,066 | €2,901 | €3,256 | ▲ 12.2% |
| Suppliers440/4 | - | €6,393 | €16,066 | €2,901 | €3,256 | ▲ 12.2% |
| Taxes, remuneration and social security45 | - | €1,808 | - | - | €41 | - |
| Taxes450/3 | - | €1,808 | - | - | €41 | - |
| Other amounts payable47/48 | - | €62,135 | €41,167 | €11,651 | €2,293 | ▼ 80.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,058 | €31,751 | €17,297 | €23,595 | €1,164 | ▼ 95.1% |
| + Depreciation and write-downs630 | - | €267 | €807 | €1,448 | €1,457 | ▲ 0.6% |
| Operating cash flow (approximation) | -€13,058 | €32,018 | €18,105 | €25,043 | €2,621 | ▼ 89.5% |
| Investment in fixed assets (approximation) | - | - | -€2,713 | -€420 | -€2,500 | ▼ 495% |
| Change in cash | - | €2,433 | €12,219 | -€10,352 | -€3,746 | ▲ 63.8% |
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
23-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
08-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
16-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 47 days late
2023
06-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 37 days late
2022
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 59 days late
2021
31-12
Financial
Back to profitnet €31,751
Net result €31,751 after one loss-making year.
25-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 86 days late
2020
31-12
Financial
Weakest financial yearnet -€13,058
Net result drops to -€13,058, the lowest in the series; recovery starts the following year.
24-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 116 days late
2019
11-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 72 days late
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 42 days late
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 1999
Ground area
240 m²
Building footprint
87 m²
Volume, LiDAR
725 m³
Parcel 21614H0005/00F022, Brussels · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Carloodreef 7, 1180 Ukkel
since 19992.073.107.754
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21614H0005/00F022 | Brussels | 240 m² | 1 · 87 m² | 11.0 m · 3 fl. |
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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 3,922 companies in this sector we hold annual accounts for 1,296. See the whole sector
Company details
Identification
Legal formPrivate limited company (pre-2019)
Founded01-08-1995
Fiscal year end31-12
Activities, NACEBEL 2025
71112Activities of interior architects
36000Water collection, treatment and supply
47811Retail sale of cars and light vans (up to 3.5 tonnes)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455729061
Registered
16-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.