Upthrust
ActiveSummary
The annual accounts of Upthrust for financial year 2025 show a net loss of 59% of the equity at the start of that year. The 2025 annual accounts show equity of €3.3m and a net result of -€4.7m. Equity is growing by about 2.9% per year across the filed financial years. Its solvency ranks better than 16% of 827 sector peers (NACE 73, financial year 2025). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.9% (low).
Overview
- Staff
- 20 FTE
- Equity
- €3.3m
- Loss
- -€4.7m
- Parent
- B-15 · 100%
- Holdings
- 5
- Augmenta Consulting BVDirector · permanent representative Dennis De Cat
Why 53raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €4.7m (financial year 2025)1 change of registered office in 24 monthsEquity €3.3m (6.1% of total assets)lowers riskSize: turnover €6.1m, 20 FTE, total assets €53.6mShow the evidence
Checked score
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 73, small): better than 13% on solvency, 43% on liquidity, 6% on profitability and 3% on growth.
The bankruptcy probability was computed on 15-10-2026 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).
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Signals
This company filed its last 7 accounts on average 2 days before the deadline; the sector median (NACE 73) for financial year 2024 is 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Resignations & appointmentsPower of attorney · Declaration
- Annual accounts filedfinancial year 2025 · full…
- Weakest financial yearnet -€4.7m
Financials · financial year 2025, full format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €558,958 after €1.7m in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €11.2m | €15.0m | €13.3m | €13.6m | €6.3m | ▼ 53.8% |
| Turnover70 | - | €3.4m | €7.0m | €11.2m | €14.8m | €13.2m | €11.8m | €6.1m | ▼ 48.3% |
| Other operating income74 | - | - | - | €0.06m | €0.2m | €0.1m | €0.5m | €0.2m | ▼ 54.8% |
| Non-recurring operating income76A | - | - | - | - | - | - | €1.4m | - | - |
| Operating charges60/66A | - | - | - | €9.8m | €14.7m | €14.2m | €11.9m | €6.8m | ▼ 42.4% |
| Goods for resale, raw materials and consumables60 | - | - | - | €6.7m | €7.2m | €5.9m | €4.9m | €2.7m | ▼ 45.5% |
| Purchases600/8 | - | - | - | €6.7m | €7.2m | €5.9m | €4.9m | €2.7m | ▼ 45.5% |
| Services and other goods61 | - | - | - | €1.4m | €4.1m | €3.8m | €2.9m | €1.6m | ▼ 45.0% |
| Remuneration, social security and pensions62 | - | - | - | €1.5m | €2.4m | €3.3m | €2.9m | €1.6m | ▼ 43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.08m | €0.1m | €0.1m | €0.2m | €0.5m | €0.5m | €0.5m | ▼ 10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.02m | €0 | - | -€0.02m | - | - |
| Other operating charges640/8 | - | - | - | €0.06m | €0.9m | €0.7m | €0.8m | €0.5m | ▼ 43.2% |
| Non-recurring operating charges66A | - | - | - | €0.02m | - | - | - | €0.09m | - |
| Gross operating margin9900 | €0.2m | - | - | - | - | - | - | - | - |
| Operating profit (loss)9901 | €0.02m | €0.3m | €1.1m | €1.4m | €0.3m | -€0.9m | €1.7m | -€0.6m | - |
| Financial income75/76B | - | - | - | €0.003m | €1.8m | €0.3m | €7.2m | €1.5m | ▼ 79.1% |
| Recurring financial income75 | €70 | €0.001m | €0.002m | €0.003m | €1.8m | €0.3m | €7.2m | €1.5m | ▼ 79.1% |
| Income from financial fixed assets750 | - | - | - | - | €1.8m | €0.3m | €7.2m | €1.3m | ▼ 82.7% |
| Income from current assets751 | - | - | - | €0.003m | - | - | - | €0.3m | - |
| Other financial income752/9 | - | - | - | €1 | €0.002m | €0.002m | €0.01m | €0.002m | ▼ 79.3% |
| Financial charges65/66B | - | - | - | €0.4m | €1.0m | €2.5m | €2.6m | €5.7m | ▲ 116% |
| Recurring financial charges65 | €0.02m | €0.1m | €0.3m | €0.4m | €1.0m | €2.5m | €2.6m | €2.4m | ▼ 7.7% |
| Debt charges650 | - | €0.1m | €0.3m | €0.4m | €0.6m | €2.4m | €2.6m | €2.4m | ▼ 8.2% |
| Other financial charges652/9 | - | - | - | €0.04m | €0.3m | €0.1m | €0.02m | €0.03m | ▲ 68.6% |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €3.2m | - |
| Profit (loss) for the period before taxes9903 | €0.003m | €0.2m | €0.7m | €1.0m | €1.1m | -€3.1m | €6.3m | -€4.7m | - |
| Income taxes67/77 | - | €0.009m | €0.2m | €0.3m | -€0.07m | €0.09m | €0.01m | -€0.03m | - |
| Taxes670/3 | - | - | - | €0.3m | - | €0.1m | €0.01m | €0.002m | ▼ 79.5% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.01m | €0.07m | €0.01m | - | €0.03m | - |
| Profit (loss) for the period9904 | €0.003m | €0.2m | €0.5m | €0.7m | €1.2m | -€3.2m | €6.3m | -€4.7m | - |
| Profit (loss) for the period to be appropriated9905 | €0.003m | €0.2m | €0.5m | €0.7m | €1.2m | -€3.2m | €6.3m | -€4.7m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €19.9m | €23.1m | €32.4m | €53.6m | €54.0m | €57.8m | €53.6m | ▼ 7.3% |
| Formation expenses20 | €0.2m | €0.2m | €0.1m | €0.07m | €0.01m | €0 | €0 | - | - |
| Fixed assets21/28 | €0.07m | €18.0m | €20.4m | €28.3m | €43.0m | €46.8m | €45.5m | €41.9m | ▼ 7.9% |
| Intangible fixed assets21 | €0.02m | €0.05m | €0.2m | €0.1m | €0.08m | €1.6m | €1.2m | €0.8m | ▼ 33.9% |
| Tangible fixed assets22/27 | €0.05m | €0.06m | €0.07m | €0.1m | €0.3m | €0.2m | €0.2m | €0.08m | ▼ 57.3% |
| Plant, machinery and equipment23 | - | - | - | €0.05m | €0.1m | €0.09m | €0.06m | €0.03m | ▼ 45.2% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.02m | €0.03m | €0.05m | ▲ 60.7% |
| Other tangible fixed assets26 | - | - | - | €0.06m | €0.1m | €0.1m | €0.09m | - | - |
| Financial fixed assets28 | - | €17.9m | €20.2m | €28.1m | €42.7m | €44.9m | €44.1m | €41.1m | ▼ 7.0% |
| Affiliated companies280/1 | - | - | - | €28.1m | €42.6m | €44.9m | €44.1m | €41.0m | ▼ 7.0% |
| Participating interests280 | - | - | - | €28.1m | €42.6m | €44.9m | €44.1m | €41.0m | ▼ 7.0% |
| Other financial fixed assets284/8 | - | - | - | €0.02m | €0.02m | €0.03m | €0.03m | €0.03m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.02m | €0.02m | €0.03m | €0.03m | €0.03m | = |
| Current assets29/58 | €0.8m | €1.7m | €2.6m | €3.9m | €10.6m | €7.2m | €12.3m | €11.6m | ▼ 5.3% |
| Amounts receivable after more than one year29 | - | - | - | €0.3m | €2.7m | €1.9m | €2.9m | €0.07m | ▼ 97.6% |
| Other amounts receivable291 | - | - | - | €0.3m | €2.7m | €1.9m | €2.9m | €0.07m | ▼ 97.6% |
| Amounts receivable within one year40/41 | €0.8m | €1.5m | €2.2m | €3.4m | €6.9m | €4.2m | €3.0m | €6.2m | ▲ 104% |
| Trade receivables40 | - | - | - | €3.1m | €4.9m | €3.0m | €2.7m | €1.1m | ▼ 59.0% |
| Other amounts receivable41 | - | - | - | €0.3m | €2.0m | €1.1m | €0.4m | €5.1m | ▲ 1,281% |
| Cash at bank and in hand54/58 | €0.02m | €0.2m | €0.3m | €0.2m | €0.9m | €0.8m | €6.3m | €5.3m | ▼ 16.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0.07m | €0.3m | €0.05m | €0.1m | ▲ 133% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €19.9m | €23.1m | €32.4m | €53.6m | €54.0m | €57.8m | €53.6m | ▼ 7.3% |
| Equity10/15 | €0.07m | €7.9m | €8.4m | €9.1m | €10.3m | €7.1m | €7.9m | €3.3m | ▼ 59.0% |
| Contributions10/11 | €0.3m | €7.9m | - | €7.9m | €7.9m | €7.9m | €7.9m | €7.9m | = |
| Reserves13 | - | - | €0.4m | €1.2m | €2.4m | - | - | - | - |
| Distributable reserves133 | - | - | - | €1.2m | €2.4m | - | - | - | - |
| Profit (loss) carried forward14 | -€0.2m | -€0.05m | -€0.2m | - | - | -€0.8m | - | -€4.7m | - |
| Amounts payable17/49 | €1.0m | €12.0m | €14.7m | €23.3m | €43.3m | €46.9m | €49.9m | €50.3m | ▲ 0.9% |
| Amounts payable after more than one year17 | €0.2m | €9.6m | €9.8m | €14.9m | €39.0m | €43.0m | €33.1m | €32.4m | ▼ 2.3% |
| Financial debts170/4 | - | - | - | €14.9m | €39.0m | €43.0m | €33.1m | €32.4m | ▼ 2.3% |
| Credit institutions173 | - | - | - | €12.6m | €33.0m | €34.2m | €28.2m | €27.9m | ▼ 0.8% |
| Other loans174 | - | - | - | €2.3m | €6.0m | €8.9m | €4.9m | €4.4m | ▼ 10.3% |
| Amounts payable within one year42/48 | €0.8m | €2.3m | €4.8m | €8.3m | €4.0m | €3.0m | €16.2m | €17.5m | ▲ 7.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1.9m | - | - | €3.2m | €3.2m | = |
| Financial debts43 | - | - | - | €0.5m | €0.1m | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0.5m | €0.1m | - | - | - | - |
| Trade debts44 | €0.6m | €0.9m | €1.3m | €1.8m | €2.9m | €1.6m | €1.3m | €1.1m | ▼ 13.0% |
| Suppliers440/4 | - | - | - | €1.8m | €2.9m | €1.6m | €1.3m | €1.1m | ▼ 13.0% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.3m | €0.2m | €0.03m | ▼ 88.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.5m | €0.6m | €0.5m | €0.2m | ▼ 52.7% |
| Taxes450/3 | - | - | - | €0.08m | €0.07m | €0.2m | €0.1m | €0.02m | ▼ 81.2% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.4m | €0.4m | €0.4m | €0.2m | ▼ 45.1% |
| Other amounts payable47/48 | - | - | - | €3.7m | €0.5m | €0.5m | €11.0m | €12.9m | ▲ 16.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.3m | €0.9m | €0.5m | €0.5m | ▼ 11.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.003m | €0.2m | €0.5m | €0.7m | €1.2m | -€3.2m | €6.3m | -€4.7m | - |
| + Depreciation and write-downs630 | €0.06m | €0.08m | €0.1m | €0.1m | €0.2m | €0.5m | €0.5m | €0.5m | ▼ 10.2% |
| Operating cash flow (approximation) | €0.06m | €0.2m | €0.6m | €0.9m | €1.3m | -€2.7m | €6.8m | -€4.2m | - |
| Investment in fixed assets (approximation) | - | -€18.0m | -€2.6m | -€8.1m | -€14.8m | -€4.3m | €0.8m | €3.1m | ▲ 310% |
| Change in cash | - | €0.2m | €0.1m | -€0.2m | €0.7m | -€0.06m | €5.5m | -€1.0m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 09-06-2026 | 2026-00161891 |
| 31-12-2024 | full format | 25-06-2025 | 2025-00199911 |
| 31-12-2023 | full format | 20-06-2024 | 2024-00181681 |
| 31-12-2022 | full format | 28-12-2023 | 2024-00543028 |
| 31-12-2021 | full format | 30-06-2022 | 2022-20127196 |
| 31-12-2020 | full format | 29-07-2021 | 2021-45100119 |
| 31-12-2019 | full format | 27-07-2020 | 2020-36100054 |
| 31-12-2018 | abbreviated format | 05-07-2019 | 2019-30200156 |
| 31-12-2017 | micro format | 06-07-2018 | 2018-29700098 |
| 31-12-2016 | abbreviated format | 28-07-2017 | 2017-39800251 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 to 2024 · 4 entries · €9,167 awarded · €9,167 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €3,864 | €3,864 |
| 2023 | 2 | €1,704 | €5,303 |
| 2022 | 1 | €3,599 | €0 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 1
Permanent representatives 1
Statutory auditor 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Augmenta Consulting BV |
|
| Forvis Mazars Réviseurs d’Entreprises |
|
| Consudel Commv. |
|
| DIGNIFY CONSULTING BV |
|
Owners and capital
Owners
1 ownerChain of control
- B-15
- Upthrust
Highest known parent: B-15. The sources do not say who stands above it.
Owners 1
- B-15parent100%
According to the 2025 annual accounts of Upthrust and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Holdings and subsidiaries
5 holdings · 8 subsidiaries in the treeHoldings 5
Source for every holding own accounts 2025
-
100%
- B+M WebworksDEsubsidiaryEquity €1.3mResult €710,383100%
-
100%
- Fightclub HoldingNLsubsidiaryEquity €2.5mResult €196,121100%
-
100%
Stated earlier (2)
An older source named these holdings; newer accounts no longer list them.
-
100%
-
100%
All subsidiaries, including indirect ones 8
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- addData 100%
- B+M WebworksDE 100%
- Fightclub Belgium 100%
- Fightclub HoldingNL 100%
The House of Marketing 100%3 subsidiaries
DIGNIFY 100%1 subsidiary
- Take The Lead 100%
- The House of Marketing B.V.NL 100%
According to the 2025 annual accounts of Upthrust and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. 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 include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
04-08
Gazette deed
Resignations & appointmentsPower of attorney · Declaration15 facts ▸
- Board meeting, 19-06-2026
- Power of attorney, KJV BV
- Power of attorney, Dennis De Cat
- Declaration, “enige geldende bijzondere volmachten, de in deze besluiten toegekende bijzondere volmachten zijn de enige geldende bijzondere volmachten; alle eerdere zijn opge…” (deed in Dutch)
- Power of attorney, Nick Van Meerbeeck
- Declaration, “bindende kracht, enig document ondertekend of enige handeling verricht door Nick Van Meerbeeck in het kader van de volmacht is bindend voor de Vennootschap en h…” (deed in Dutch)
- Power of attorney, Nicole Segers
- Power of attorney, Wout Smeets
- Power of attorney, Gilles Leyssen
- Power of attorney, Amber Rogiers
- Power of attorney, Louise Jodts
- Power of attorney, Jarny Stieners
- +3 further facts in this act
05-09
Gazette deed
Resignations & appointmentsPower of attorney8 facts ▸
- Board meeting, 18-08-2025
- Power of attorney, Growth AT CommV
- Power of attorney, STEPP BV
- Power of attorney, FairePlay BV
- Power of attorney, Dimitri Coun
- Power of attorney, Teona Aptsiauri
- Power of attorney, Xander Michels
- Power of attorney
29-08
Gazette deed
Reappointment: Forvis Mazars Bedrijfsrevisoren (statutory auditor)Resignations: Consudel Commv. (director) and DIGNIFY CONSULTING BV (director) · Appointment: Augmenta Consulting BV (director) · Registered-office move5 facts ▸
- Auditor reappointment, Forvis Mazars Bedrijfsrevisoren (statutory auditor)
- Director resignation, Consudel Commv. (director)
- Director resignation, DIGNIFY CONSULTING BV (director)
- Director appointment, Augmenta Consulting BV (director)
- Registered-office move, Frans Buyensstraat 9/1, 2000 Antwerpen
Show earlier events
About the unread acts
Of the 17 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 15 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11811L3917/00P002 | Flanders | 7,079 m² | 1 · 1,267 m² | 0.6 m |
| 11811L3780/00M000 | Flanders | 112 m² | 1 · 112 m² | 17.2 m · 4 |
How the parcels are linked
Articles of association
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed
Read from the deeds: 1 provision, deed of 04-08-2026