Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Shrinking team NBB
FTE fell two years in a row, from 0.5 to 0.1.
Financials
Financial year 2025
USQUARE INCUBATOR from Etterbeek, company number BE0696781583, closed financial year 2025 with a result of € -48,691 after tax. For that financial year USQUARE INCUBATOR recorded a gross margin of € -86,181 and equity of € 4.1 million. Compared with financial year 2024, the result moved from € -73,071 to € -48,691. The company made a loss. 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 July 10, 2026.
€ 4.1 million
▼ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -48,691
▲ 33 % less loss than in 2024
Profit after tax over the fiscal year.
€ 54,135
▼ 99% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -319,043.
People and assets in 2025
0.1
▼ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3,701
▼ 76% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 4,492
▼ 28% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 16,136
▼ 30% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 1,423
▼ 45% vs 2024
Taxes, VAT and social contributions still to pay.
Want to see how much further we take a dossier in the Pro version? Open the free De Lijn example and give feedback →
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -49,278 | € -58,811 | € -27,982 | € -86,181 | ▼ € 58,199 |
| Profit after taxes | € -81,297 | € -106,301 | € -73,071 | € -48,691 | ▲ € 24,380 |
| Equity | € 299,021 | € 192,720 | € 4,119,649 | € 4,070,957 | ▼ 1% |
| Total debts | € 82,364 | € 98,701 | € 86,585 | € 118,813 | ▲ 37% |
| Cash | € 107,900 | € 121,570 | € 4,128,168 | € 54,135 | ▼ 99% |
| Retained profit | € -90,979 | € -197,280 | € -270,351 | € -319,043 | ▼ € 48,691 |
| Bank debt | € 18 | € 5 | € 13 | € 0 | ▼ 100% |
| Balance sheet total | € 381,385 | € 291,421 | € 4,206,234 | € 4,189,770 | |
| Employees (FTE) | 0.7 | 0.5 | 0.3 | 0.1 | ▼ 0.2 |
Key figures of USQUARE INCUBATOR, 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 USQUARE INCUBATOR?
What happened at USQUARE INCUBATOR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Françoise Magerman stepped down as director. NBB
- Marc Van Thournout stepped down as director. NBB
- Kristel Mommaerts, stepped down as director. NBB
- Marnix Housen stepped down as director. NBB
- Fabienne Malaise stepped down as director. NBB
- Nic Van Craen stepped down as director. NBB
- Bernard Richelle stepped down as director. NBB
- Gaetan Daneels stepped down as director. NBB
In short
From € 81,297 loss in 2022 to € 48,691 loss in 2025.
A new publication or filing at USQUARE INCUBATOR? We notify you, reason included.
Follow USQUARE INCUBATORDatabakkes Pro
Know what changes at your customers, suppliers and competitors. Without reading an annual account.
- Follow them in one folder Every company in your folder gets this full dossier: household book, all fiscal years, benchmark against companies of the same size.
- We alert you, with the reason New annual account, Official Gazette publication or status change: you get what changed and where it says so.
- In bulk too, and in ChatGPT and Claude Upload your customer list and get the warning signs back per company. Or ask in your own AI assistant, with this register as the source.
Databakkes Pro is being built. Sign up now and you are first in line for an invitation, with a month to try without a credit card.
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
The stake of Gewestelijke Ontwikkelingsmaatschappij voor het BrusselsHoofdstedelijk Gewest, IMPACTHEO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
USQUARE INCUBATORThe shares are held by Gewestelijke Ontwikkelingsmaatschappij voor het BrusselsHoofdstedelijk Gewest (95.5%) and IMPACTHEO (10.6%).
Directors
According to the 2025 annual accounts
Françoise Magerman
Director
since 2025 · until 2028
Marc Van Thournout
Director
Also active at: Société de Développement pour la Région de Bruxelles-Capitale, IMOJOIE, VAN THOURNOUT & PARTNERS, KANAL
since 2025 · until 2028
Kristel Mommaerts,
Director
since 2025 · until 2028
Claudio Truzzi
Director
since 2023 · until 2026
Marnix Housen
Director
since 2025 · until 2028
Cécile Broekhoven
Director
since 2024 · until 2027
Fabienne Malaise
Director
Also active at: CRYSTAL PALACE, CENTRE D'ENTREPRISES DANSAERT, CENTRE D'ENTREPRISES DE MOLENBEEK, CENTRE D'ENTREPRISES DE SAINT GILLES, jobyourself in brussels, ANDERLECHT MOULART, PEPICENTRE, PEPIBRU +2 more
since 2025 · until 2028
Nic Van Craen
Director
since 2025 · until 2028
Bernard Richelle
Director
Also active at: Société de Développement pour la Région de Bruxelles-Capitale, BINHÔME, EEBIC
since 2025 · until 2028
since 2025 · until 2028
Stephanie Lepczynski
Director
Also active at: Incubatiecentrum Arsenaal Brussel, BRUSSELS LIFE SCIENCE INCUBATOR
since 2025 · until 2028
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Sint-Michielslaan 61
1040 Etterbeek
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0696.781.583
- VAT number
- BE 0696.781.583
- Registered office
- Sint-Michielslaan 61, 1040 Etterbeek
- Names & denominations
- USQUARE INCUBATOR
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 25 May 2018
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Overige zakelijke dienstverlening, neg
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Activiteiten van uitzendbureaus en andere diensten in verband met personeelsvoorziening
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Fotokopiëren, documentvoorbereiding en andere gespecialiseerde ondersteunende activiteiten ten behoeve van kantoren