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 12 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
62 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
UPscale from Gent, company number BE0544749822, closed financial year 2025 with a result of € 2 million after tax. For that financial year UPscale recorded a gross margin of € 3.6 million and equity of € 75.6 million. Compared with financial year 2024, the result moved from € 5.2 million to € 2 million. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on October 8, 2025.
€ 75.6 million
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2 million
▼ 61% vs 2024
Profit after tax over the fiscal year.
€ 1.2 million
▲ 153% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 1.5 million paid out
73 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 33 million
▼ 6% vs 2024
Loans from banks and other lenders, long and short.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 5,798,800 | € 5,137,679 | € 8,402,509 | € 3,557,640 | ▼ 58% |
| Profit after taxes | € 9,448,754 | € 4,527,103 | € 5,207,398 | € 2,042,355 | ▼ 61% |
| Equity | € 74,700,096 | € 74,727,199 | € 75,034,598 | € 75,576,952 | ▲ 1% |
| Total debts | € 130,271,768 | € 124,201,709 | € 60,910,671 | € 95,665,334 | ▲ 57% |
| Cash | € 70,634 | € 6,902,554 | € 481,026 | € 1,218,351 | ▲ 153% |
| Retained profit | € 56,121,953 | € 56,149,056 | € 56,456,455 | € 56,998,810 | ▲ 1% |
| Dividend | € 8,000,000 | € 4,500,000 | € 4,900,000 | € 1,500,000 | ▼ 69% |
| Bank debt | € 31,000,000 | € 27,300,000 | € 35,000,000 | € 33,000,000 | ▼ 6% |
| Balance sheet total | € 204,971,864 | € 198,928,908 | € 135,945,269 | € 171,242,286 | ▲ 26% |
Key figures of UPscale, 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 October 2026.
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 2025: profit of € 2 million (▼ 61% vs 2024). 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 € 9.4 million profit in 2022 to € 2 million profit in 2025.
Best year ever: 2022, with € 9.4 million profit.
Paid out € 18.9 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
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 2025 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 62 companies are registered at this address.
All companies at this address →UPGRADE ESTATE GROUP same network
€ 3 million gross margin · 2025
WESTATE same network
€ 40,264 gross margin · 2025
Timi UpKot same network
€ 643,357 gross margin · 2025
10 Upkot same network
€ 289,659 gross margin · 2025
Gandia same network
€ 43,171 gross margin · 2025
+57 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