UPWARD
ActiveSummary
UPWARD has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €72k and a net result of €38k. Equity is growing by ~106.4% per year across the filed fiscal years. Its solvency ranks better than 77% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency100▲+20
Growth78=
Track record94
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 4.54 against 1.71 in 2023; short-term debt: 19.2% and cash: 73.8% of total assets), and 19.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-06-2025, 43 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
43 d early
2023
48 d early
2022
48 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€72k▲ 112%
2023 · €34k
2022: €-426lowest in 3 years
2023: €34k▲ +8123% vs 2022
2024: €72k▲ +112% vs 2023highest in 3 years
2022 → 2024
Total assets
€90k▲ 43.6%
2023 · €62k
2022: €31klowest in 3 years
2023: €62k▲ +102% vs 2022
2024: €90k▲ +43.6% vs 2023highest in 3 years
2022 → 2024
Net result
€38k▲ 10.2%
2023 · €35k
2022: €-426lowest in 3 years
2023: €35k▲ +8223% vs 2022
2024: €38k▲ +10.2% vs 2023highest in 3 years
2022 → 2024
Working capital
€61k▲ 205%
2023 · €20k
2022: €-11klowest in 3 years
2023: €20k▲ +289% vs 2022
2024: €61k▲ +205% vs 2023highest in 3 years
2022 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202220232024Trend
Equity€-426-€34k€72k▲ 112%
2022: €-426lowest in 3 years
2023: €34k▲ +8123% vs 2022
2024: €72k▲ +112% vs 2023highest in 3 years
Operating result€-307-€50k€53k▲ 6.6%
2022: €-307lowest in 3 years
2023: €50k▲ +16402% vs 2022
2024: €53k▲ +6.6% vs 2023highest in 3 years
Net result€-426-€35k€38k▲ 10.2%
2022: €-426lowest in 3 years
2023: €35k▲ +8223% vs 2022
2024: €38k▲ +10.2% vs 2023highest in 3 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2024 is 7% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €90k
Fixed assets
€11k ▼ 20.6%
Current assets
€78k ▲ 62.5%
Equity and liabilities €90k
Equity
€72k ▲ 112%
Debt
€17k ▼ 38.8%
Debt's share of the balance-sheet total falls from 45.2% to 19.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€58k▲
2023 · €54k
Cash flow
€43k▲
2023 · €39k
Current ratio
4.54▲
2023 · 1.71
Debt to equity
0.24▼
2023 · 0.82
ROE
52.7%▼
2023 · 101.2%
ROA
42.6%▼
2023 · 55.5%
Interest coverage
510.29▲
2023 · 66.00
Debt ≤ 1 year
€17k▼
2023 · €28k
Income taxes
€15k▲
2023 · €15k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 37 lines
Balance sheet
Code20232024
Assets
Total assets20/58€62k€90k▲
Fixed assets21/28€14k€11k▼
Tangible fixed assets22/27€14k€11k▼
Furniture and vehicles24€12k€10k▼
Other tangible fixed assets26€2k€1k▼
Current assets29/58€48k€78k▲
Amounts receivable within one year40/41€17k€12k▼
Trade receivables40€17k€11k▼
Other amounts receivable41-€1k
Cash at bank and in hand54/58€24k€66k▲
Deferred charges and accrued income490/1€7k-
Equity and liabilities
Total equity and liabilities10/49€62k€90k▲
Equity10/15€34k€72k▲
Reserves13€34k€72k▲
Distributable reserves133€34k€72k▲
Amounts payable17/49€28k€17k▼
Amounts payable within one year42/48€28k€17k▼
Trade debts44€118-
Suppliers440/4€118-
Taxes, remuneration and social security45€15k€14k▼
Taxes450/3€12k€11k▼
Remuneration and social security454/9€3k€3k=
Other amounts payable47/48€13k€3k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Other operating charges640/8€391€438▲
Gross operating margin9900€54k€59k▲
Operating profit (loss)9901€50k€53k▲
Financial charges65/66B€819€114▼
Recurring financial charges65€819€114▼
Profit (loss) for the period before taxes9903€49k€53k▲
Income taxes67/77€15k€15k▲
Profit (loss) for the period9904€35k€38k▲
Profit (loss) for the period to be appropriated9905€35k€38k▲
Appropriation of the result
Profit (loss) to be appropriated9906€34k€38k▲
Profit (loss) brought forward from the previous period14P€-426-
Transfer to equity691/2€34k€38k▲
To other reserves6921€34k€38k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €4k | €5k | ▲ 20.2% |
| Other operating charges640/8 | - | €391 | €438 | ▲ 12.0% |
| Gross operating margin9900 | €1k | €54k | €59k | ▲ 7.6% |
| Operating profit (loss)9901 | €-307 | €50k | €53k | ▲ 6.6% |
| Financial charges65/66B | €38 | €819 | €114 | ▼ 86.1% |
| Recurring financial charges65 | €38 | €819 | €114 | ▼ 86.1% |
| Profit (loss) for the period before taxes9903 | €-345 | €49k | €53k | ▲ 8.1% |
| Income taxes67/77 | €81 | €15k | €15k | ▲ 3.4% |
| Profit (loss) for the period9904 | €-426 | €35k | €38k | ▲ 10.2% |
| Profit (loss) for the period to be appropriated9905 | €-426 | €35k | €38k | ▲ 10.2% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €31k | €62k | €90k | ▲ 43.6% |
| Fixed assets21/28 | €10k | €14k | €11k | ▼ 20.6% |
| Tangible fixed assets22/27 | €10k | €14k | €11k | ▼ 20.6% |
| Furniture and vehicles24 | €10k | €12k | €10k | ▼ 20.2% |
| Other tangible fixed assets26 | - | €2k | €1k | ▼ 23.8% |
| Current assets29/58 | €21k | €48k | €78k | ▲ 62.5% |
| Amounts receivable within one year40/41 | €8k | €17k | €12k | ▼ 28.7% |
| Trade receivables40 | €8k | €17k | €11k | ▼ 36.8% |
| Other amounts receivable41 | - | - | €1k | - |
| Cash at bank and in hand54/58 | €12k | €24k | €66k | ▲ 175% |
| Deferred charges and accrued income490/1 | €500 | €7k | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €31k | €62k | €90k | ▲ 43.6% |
| Equity10/15 | €-426 | €34k | €72k | ▲ 112% |
| Reserves13 | - | €34k | €72k | ▲ 112% |
| Distributable reserves133 | - | €34k | €72k | ▲ 112% |
| Profit (loss) carried forward14 | €-426 | - | - | - |
| Amounts payable17/49 | €31k | €28k | €17k | ▼ 38.8% |
| Amounts payable within one year42/48 | €31k | €28k | €17k | ▼ 38.8% |
| Trade debts44 | €3k | €118 | - | - |
| Suppliers440/4 | €3k | €118 | - | - |
| Taxes, remuneration and social security45 | €7k | €15k | €14k | ▼ 5.3% |
| Taxes450/3 | €4k | €12k | €11k | ▼ 6.4% |
| Remuneration and social security454/9 | €3k | €3k | €3k | = |
| Other amounts payable47/48 | €21k | €13k | €3k | ▼ 74.5% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-426 | €35k | €38k | ▲ 10.2% |
| + Depreciation and write-downs630 | €2k | €4k | €5k | ▲ 20.2% |
| Operating cash flow (approximation) | €1k | €39k | €43k | ▲ 11.2% |
| Investment in fixed assets (approximation) | - | €-8k | €-2k | ▲ 76.3% |
| Change in cash | - | €12k | €42k | ▲ 258% |
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
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2022net €38k ▲10.2%
Operating result €53k, net result €38k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 4.54
Current ratio from 1.71 to 4.54; short-term debt falls from €28k to €17k.
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €35k
Net result €35k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.71
Current ratio from 0.66 to 1.71; short-term debt falls from €31k to €28k.
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Etterbeek
Ground area
253 m²
Building footprint
86 m²
Volume, LiDAR
1,137 m³
Parcel 21363B0435/00M004, Brussels · tallest building 15.6 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21363B0435/00M004 | Brussels | 253 m² | 1 · 86 m² | 15.6 m · 4 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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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 39,798 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
Founded23-05-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.