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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Busy address KBO
39 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
UPSA Belgium from Etterbeek, company number BE0725595929, closed financial year 2025 with a result of € 1.2 million after tax. For that financial year UPSA Belgium recorded revenue of € 58.9 million and equity of € 8.5 million. Compared with financial year 2024, the result moved from € 2.6 million to € 1.2 million. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 7, 2026.
€ 8.5 million
▲ 16% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.2 million
▼ 55% vs 2024
Profit after tax over the fiscal year.
€ 3.9 million
▲ 49% 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 € 8.4 million.
People and assets in 2025
25.3
▲ 10.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.5 million
▲ 56% vs 2024
€ 137,200 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.
€ 51,787
▼ 20% 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.
€ 6.4 million
▲ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 54 days on average.
€ 1.3 million
▲ 35% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 50,011,706 | € 50,896,622 | € 57,975,652 | € 58,860,333 | ▲ 2% |
| Profit after taxes | € 1,774,938 | € 2,126,453 | € 2,628,720 | € 1,192,069 | ▼ 55% |
| Equity | € 2,517,634 | € 4,644,087 | € 7,272,806 | € 8,464,875 | ▲ 16% |
| Total debts | € 96,529,013 | € 95,410,008 | € 95,210,206 | € 95,677,391 | |
| Cash | € 1,898,477 | € 1,517,441 | € 2,619,636 | € 3,911,537 | ▲ 49% |
| Retained profit | € 2,456,134 | € 4,582,587 | € 7,211,306 | € 8,403,375 | ▲ 17% |
| Balance sheet total | € 99,077,579 | € 100,099,162 | € 102,524,237 | € 104,183,913 | ▲ 2% |
| Employees (FTE) | 13.4 | 15.7 | 14.8 | 25.3 | ▲ 10.5 |
Key figures of UPSA Belgium, 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 UPSA Belgium?
What happened at UPSA Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Isabelle Vanrycke stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.2 million (▼ 55% vs 2024). Source: NBB ↗
- Alessandro Vita became a director. NBB
- Isabelle Vanrycke became a director. NBB
- Stéphanie Maquet became a director. NBB
- New establishment in Mont-Saint-Guibert. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.8 million profit in 2022 to € 1.2 million profit in 2025.
Paid € 2.8 million in corporate taxes since 2022.
Best year ever: 2024, with € 2.6 million profit.
Pays suppliers within 54 days on average.
A new publication or filing at UPSA Belgium? We notify you, reason included.
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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 UPSA Belgium are Alessandro Vita and Stéphanie Maquet. The shares are held by UPSA SAS (100%) and UPSA SWITZERLAND AG (0%).
Directors
According to the 2025 annual accounts
Alessandro Vita
Director
since 2024
Stéphanie Maquet
Personne chargée de la gestion journalière
since 2020
Isabelle Vanrycke
Managing director
since 2021 · until 2027
Shareholders
UPSA SAS
100%
UPSA SWITZERLAND AG
0%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Louis Schmidtlaan 87
1040 Etterbeek
Rue Emile Francqui 4
1435 Mont-Saint-Guibert
Active since 23 April 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 39 companies are registered at this address.
All companies at this address →Organisatiebureel A.D.
FEDERATION EUROPEENNE DES ASSOCIATIONS DES ETABLISSEMENTS DE CREDIT EUROFINAS ASS INT
€ 462,531 gross margin · 2025
SEGRO BELGIUM
€ -35,308 gross margin · 2025
FEDERATION EUROPEENNE DES ASSOCIATIONS DES ETABLISSEMENTS DE LEASING - EUROPESE FEDERATIE VAN VERENIGINGEN VAN LEASINGONDERNEMINGEN - EUROPEAN FEDERATIONOF LEAS
€ 866,930 gross margin · 2025
IMMOBILIERE PARMA-IMMOBILIEN PARMA
€ -8,614 gross margin · 2025
+34 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
- 0725.595.929
- VAT number
- BE 0725.595.929
- Registered office
- Louis Schmidtlaan 87, 1040 Etterbeek
- Names & denominations
- UPSA Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 April 2019
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Groothandel in farmaceutische en medische artikelen