Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 122.2 to 109.9.
Financials
Financial year 2025
UpFresh from Oostende, company number BE0405252241, closed financial year 2025 with a result of € 552,916 after tax. For that financial year UpFresh recorded revenue of € 138.6 million and equity of € 9 million. Compared with financial year 2024, the result moved from € -118,135 to € 552,916. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 13, 2026.
€ 9 million
▲ 7% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 552,916
▲ still € 118,135 loss in 2024
Profit after tax over the fiscal year.
€ 5.6 million
▼ 11% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 9 million.
People and assets in 2025
109.9
▼ 9.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 7.5 million
▼ 7% vs 2024
€ 68,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 520,090
▼ 6% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 478,497
▼ 44% vs 2024
€ 215,640 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 22.4 million
▲ 18% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 63 days on average.
€ 1.1 million
▼ 29% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 115,076,117 | € 113,440,206 | € 113,683,441 | € 138,597,184 | ▲ 22% |
| Profit after taxes | € 105,079 | € -50,030 | € -118,135 | € 552,916 | ▲ € 671,051 |
| Equity | € 8,641,347 | € 8,591,317 | € 8,473,182 | € 9,026,098 | ▲ 7% |
| Total debts | € 17,925,144 | € 17,886,553 | € 22,731,562 | € 25,680,005 | ▲ 13% |
| Cash | € 3,718,367 | € 4,245,509 | € 6,299,688 | € 5,582,960 | ▼ 11% |
| Retained profit | € 8,577,680 | € 8,527,650 | € 8,409,515 | € 8,962,431 | ▲ 7% |
| Bank debt | € 1,444,144 | € 1,038,196 | € 859,695 | € 478,497 | ▼ 44% |
| Balance sheet total | € 26,566,492 | € 26,477,870 | € 31,204,744 | € 34,706,103 | ▲ 11% |
| Employees (FTE) | 116.5 | 122.2 | 119.8 | 109.9 | ▼ 9.9 |
Key figures of UpFresh, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to UpFresh?
What happened at UpFresh in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Depuydt Family BV stepped down as director. NBB
- Veerle Naessens stepped down as director. NBB
- Deroose Projects NV stepped down as director. NBB
- Essensys NV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 552,916. Source: NBB ↗
- New establishment in Beersel. KBO
- New establishment in Liège. KBO
- Depuydt Family BV became a director. NBB
In short
From € 105,079 profit in 2022 to € 552,916 profit in 2025.
Paid € 1.3 million in corporate taxes since 2022.
Best year ever: 2025, with € 552,916 profit.
Pays suppliers within 63 days on average.
Management
The stake of UpCo comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
UpFreshThe shares are held by UpCo (100%). It owns 100% of UpLog itself.
Directors
According to the 2025 annual accounts
Director · represented by Kurt Depuydt
Also active at: FRANKY, UpLog, UpREstate, UpCo, Fresh Food Group, TRANSFRA
since 2023 · until 2029
Director · represented by Dirk Van Lerberghe
Also active at: FRANKY, UpLog, UpREstate, UpCo, RoCa Invest I, RoCa Invest II, Fresh Food Group, TRANSFRA +5 more
since 2023 · until 2026
Veerle Naessens
Director
Also active at: Megaton, Groeninghe, Bekaert Depla, URTEX, FRANKY, GOSSEYE, WILLY NAESSENS INDUSTRIEBOUW, BELTAP +50 more
since 2023 · until 2029
Director · represented by Dirk Deroose
Also active at: Megaton, Groeninghe, Bekaert Depla, URTEX, FRANKY, GOSSEYE, WILLY NAESSENS INDUSTRIEBOUW, BELTAP +61 more
since 2023 · until 2029
Shareholders
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Zandvoordestraat 370
8400 Oostende
Marché Couvert 14
4020 Liège
Active since 27 October 1969
Fortsesteenweg 34
2860 Sint-Katelijne-Waver
Active since 11 January 2016
Avenue de l'Indépendance 85
4020 Liège
Active since 1 March 2025
G. Demeurslaan 106
1654 Beersel
Active since 22 June 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0405.252.241
- VAT number
- BE 0405.252.241
- Registered office
- Zandvoordestraat 370, 8400 Oostende
- Names & denominations
- UpFresh
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Groothandel in vlees en vleesproducten, uitgezonderd vlees van wild en van gevogelte
Groothandel in vlees en vleeswaren, exclusief vlees van gevogelte en van wild
Groothandel in dranken, algemeen assortiment
Niet-gespecialiseerde groothandel in niet-diepgevroren voedingsmiddelen, dranken en genotmiddelen