Summary
UPSILON is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €973,276 and a net result of €246,837. Equity is shrinking by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 91% of 8074 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €973,276
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
34 d early
2023
30 d late
2022
3 d early
2021
2 d early
2020
9 d early
2019
31 d early
← 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 10 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€973,276▲ 13.6%
2024 · €856,678
Net result
€246,837▲ 471%
2024 · €43,237
Total assets
€1.0m▲ 6.8%
2024 · €981,641
Solvency
92.8%▲ 5.6pp
2024 · 87.3%
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-€5,989▼ 67.3%-€10,615▼ 77.3%€110,406€71,814▼ 35.0%€339,600▲ 373%
Net result€3,992-€4,376€71,536€43,237▼ 39.6%€246,837▲ 471%
Equity€899,537▼ 43.3%€895,161▼ 0.5%€882,056▼ 1.5%€856,678▼ 2.9%€973,276▲ 13.6%
Total assets€1.6m▼ 0.5%€944,721▼ 42.0%€1.0m▲ 7.8%€981,641▼ 3.6%€1.0m▲ 6.8%
Debt€729,240▲ 1,322%€49,560▼ 93.2%€136,133▲ 175%€124,963▼ 8.2%€74,969▼ 40.0%
Working capital€394,444▼ 63.0%€408,219▲ 3.5%€408,765▲ 0.1%€382,398▼ 6.5%€498,481▲ 30.4%
Solvency55.2%▼ 41.6pp94.8%▲ 39.5pp86.6%▼ 8.1pp87.3%▲ 0.6pp92.8%▲ 5.6pp
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2025 Net result +471% on 2024. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 373% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€477,791 =
Current assets
€570,453 ▲ 13.2%
Equity and liabilities €1.0m
Equity
€973,276 ▲ 13.6%
Debt
€74,969 ▼ 40.0%
Debt's share of the balance-sheet total falls from 12.7% to 7.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
25.4%▲
2024 · 5.0%
ROA
23.5%▲
2024 · 4.4%
Debt ≤ 1 year
€71,972▼
2024 · €121,452
Income taxes
€110,065▲
2024 · €24,715
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 | €6,199 | €6,555 | €677 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,651 | €13,651 | €13,651 | - | - | - |
| Other operating charges640/8 | €2,318 | €2,562 | €2,772 | €2,483 | €2,772 | ▲ 11.6% |
| Gross operating margin9900 | €9,981 | €5,598 | €126,829 | €74,297 | €342,371 | ▲ 361% |
| Operating profit (loss)9901 | -€5,989 | -€10,615 | €110,406 | €71,814 | €339,600 | ▲ 373% |
| Financial income75/76B | €13,454 | €7,649 | €4,800 | €7,005 | €20,827 | ▲ 197% |
| Recurring financial income75 | €13,454 | €7,649 | €4,800 | €7,005 | €20,827 | ▲ 197% |
| Financial charges65/66B | €414 | €779 | €10,412 | €10,867 | €3,526 | ▼ 67.6% |
| Recurring financial charges65 | €414 | €779 | €10,412 | €10,867 | €3,526 | ▼ 67.6% |
| Profit (loss) for the period before taxes9903 | €7,052 | -€3,746 | €104,794 | €67,952 | €356,901 | ▲ 425% |
| Income taxes67/77 | €3,060 | €630 | €33,258 | €24,715 | €110,065 | ▲ 345% |
| Profit (loss) for the period9904 | €3,992 | -€4,376 | €71,536 | €43,237 | €246,837 | ▲ 471% |
| Profit (loss) for the period to be appropriated9905 | €3,992 | -€4,376 | €71,536 | €43,237 | €246,837 | ▲ 471% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €944,721 | €1.0m | €981,641 | €1.0m | ▲ 6.8% |
| Fixed assets21/28 | €505,093 | €491,442 | €477,791 | €477,791 | €477,791 | = |
| Tangible fixed assets22/27 | €27,302 | €13,651 | - | - | - | - |
| Furniture and vehicles24 | €27,302 | €13,651 | - | - | - | - |
| Financial fixed assets28 | €477,791 | €477,791 | €477,791 | €477,791 | €477,791 | = |
| Current assets29/58 | €1.1m | €453,279 | €540,398 | €503,850 | €570,453 | ▲ 13.2% |
| Amounts receivable within one year40/41 | €2,532 | €84,267 | €155,860 | €4,112 | €18,382 | ▲ 347% |
| Trade receivables40 | - | - | - | - | €18,150 | - |
| Other amounts receivable41 | €2,532 | €84,267 | €155,860 | €4,112 | €232 | ▼ 94.4% |
| Current investments50/53 | €335,649 | €340,910 | €375,729 | €470,092 | €470,092 | = |
| Cash at bank and in hand54/58 | €783,865 | €26,155 | €6,944 | €29,646 | €79,968 | ▲ 170% |
| Deferred charges and accrued income490/1 | €1,637 | €1,948 | €1,864 | - | €2,011 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €944,721 | €1.0m | €981,641 | €1.0m | ▲ 6.8% |
| Equity10/15 | €899,537 | €895,161 | €882,056 | €856,678 | €973,276 | ▲ 13.6% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €887,137 | €887,137 | €869,656 | €844,278 | €960,876 | ▲ 13.8% |
| Non-distributable reserves130/1 | €30,749 | €30,749 | - | - | - | - |
| Reserves not available under the articles1311 | €30,749 | €30,749 | - | - | - | - |
| Distributable reserves133 | €856,388 | €856,388 | €869,656 | €844,278 | €960,876 | ▲ 13.8% |
| Profit (loss) carried forward14 | - | -€4,376 | - | - | €0 | - |
| Amounts payable17/49 | €729,240 | €49,560 | €136,133 | €124,963 | €74,969 | ▼ 40.0% |
| Amounts payable within one year42/48 | €729,240 | €45,060 | €131,633 | €121,452 | €71,972 | ▼ 40.7% |
| Trade debts44 | €1,859 | €645 | €303 | €131 | €252 | ▲ 92.2% |
| Suppliers440/4 | €1,859 | €645 | €303 | €131 | €252 | ▲ 92.2% |
| Taxes, remuneration and social security45 | €460 | - | €4,232 | €15,276 | €35,512 | ▲ 132% |
| Taxes450/3 | €460 | - | €4,232 | €15,276 | €35,512 | ▲ 132% |
| Other amounts payable47/48 | €726,921 | €44,415 | €127,098 | €106,045 | €36,208 | ▼ 65.9% |
| Accrued charges and deferred income492/3 | - | €4,500 | €4,500 | €3,511 | €2,997 | ▼ 14.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,992 | -€4,376 | €71,536 | €43,237 | €246,837 | ▲ 471% |
| + Depreciation and write-downs630 | €13,651 | €13,651 | €13,651 | - | - | - |
| Operating cash flow (approximation) | €17,643 | €9,275 | €85,187 | €43,237 | €246,837 | ▲ 471% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€757,711 | -€19,210 | €22,702 | €50,322 | ▲ 122% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €246,837 ▲471%
Operating result €339,600, net result €246,837, both a record.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €71,536
Net result €71,536 after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity times 7current ratio 10.06
Current ratio from 1.54 to 10.06; short-term debt falls from €729,240 to €45,060.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €3,992
Net result €3,992 after one loss-making year.
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€16,417
Net result drops to -€16,417, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 9 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
3 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, Hasselt · 1 establishment unit since 2006
Ground area
3,678 m²
Building footprint
1,667 m²
Volume, LiDAR
9,163 m³
Parcel 71054B0009/00C000, Flanders · tallest building 16.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Upsilon
since 20062.154.955.562
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71054B0009/00C000 | Flanders | 3,678 m² | 1 · 1,667 m² | 16.8 m · 2 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
87.54%
According to the 2025 annual accounts of UPSILON and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 12,732 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-06-2006
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0881930037
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.