Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 38 % of short-term debt in 2026; threshold 65 %.
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Busy address KBO
63 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
UPscale from Gent, company number BE0544749822, closed financial year 2026 with a result of € 1.9 million after tax. For that financial year UPscale recorded a gross margin of € 10.2 million and equity of € 72.4 million. Compared with financial year 2025, the result moved from € 2 million to € 1.9 million. The company is profitable. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on September 25, 2026.
€ 72.4 million
▼ 4% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.9 million
▼ 9% vs 2025
Profit after tax over the fiscal year.
€ 750,730
▼ 38% vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 5 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2026
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2026
None
No bank loans on the last day of the fiscal year.
€ 300,000
Supplier invoices still open on the last day of the fiscal year.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € 5,137,679 | € 8,402,509 | € 3,557,640 | € 10,220,417 | ▲ 187% |
| Profit after taxes | € 4,527,103 | € 5,207,398 | € 2,042,355 | € 1,857,682 | ▼ 9% |
| Equity | € 74,727,199 | € 75,034,598 | € 75,576,952 | € 72,434,634 | ▼ 4% |
| Total debts | € 124,201,709 | € 60,910,671 | € 95,665,334 | € 75,868,818 | ▼ 21% |
| Cash | € 6,902,554 | € 481,026 | € 1,218,351 | € 750,730 | ▼ 38% |
| Retained profit | € 56,149,056 | € 56,456,455 | € 56,998,810 | € 53,856,491 | ▼ 6% |
| Dividend | € 4,500,000 | € 4,900,000 | € 1,500,000 | € 5,000,000 | ▲ 233% |
| Bank debt | € 27,300,000 | € 35,000,000 | € 33,000,000 | € 0 | ▼ 100% |
| Balance sheet total | € 198,928,908 | € 135,945,269 | € 171,242,286 | € 148,303,452 | ▼ 13% |
Key figures of UPscale, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to UPscale?
What happened at UPscale in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 1.9 million (▼ 9% vs 2025). Source: NBB ↗
- Nele Van Damme became a director. NBB
- Koenraad Belsack became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Gent. KBO
In short
From € 4.5 million profit in 2023 to € 1.9 million profit in 2026.
Best year ever: 2024, with € 5.2 million profit.
Paid out € 15.9 million in dividends to the owners in total.
Management
Behind UPscale are Nele Van Damme and Koenraad Belsack. The same people are also behind UPGRADE ESTATE GROUP, HOTEL SAINT - SAUVEUR, Timi UpKot, 10 Upkot and Gandia. Nele Van Damme is also behind MOEDER LAMBIC, Nelstein and FUTUREDOME. Koenraad Belsack is also behind TER DOENAERT, WESTATE, VM Weggevoerdenlaan ComCo, VAN MARCKE PROPERTIES and VM Lijnwaad Comco.
Directors
According to the 2026 annual accounts
Nele Van Damme
Director
Also active at: UPGRADE ESTATE GROUP, HOTEL SAINT - SAUVEUR, Timi UpKot, 10 Upkot, Gandia, MOEDER LAMBIC, Upliving Ghent - Queen, M.G.D. Belgium +38 more
since 2021
Koenraad Belsack
Director
Also active at: UPGRADE ESTATE GROUP, TER DOENAERT, WESTATE, HOTEL SAINT - SAUVEUR, Timi UpKot, 10 Upkot, Gandia, Upliving Ghent - Queen +45 more
since 2021
Establishments
Establishment units
Physical locations of this company
Amelia Earhartlaan 2 box 201
9051 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 63 companies are registered at this address.
All companies at this address →UPGRADE ESTATE GROUP same network
€ 2.7 million gross margin · 2026
WESTATE same network
€ 40,264 gross margin · 2025
Immostal
€ -50,350 gross margin · 2025
Timi UpKot same network
€ 643,357 gross margin · 2025
10 Upkot same network
€ 289,659 gross margin · 2025
+58 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0544.749.822
- VAT number
- BE 0544.749.822
- Registered office
- Amelia Earhartlaan 2 bus 201, 9051 Gent
- Names & denominations
- UPscale
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 27 January 2014
- Peppol
- Active · Active since 22 May 2025