What does UPGRADE ESTATE do?

UPGRADE ESTATE is registered with the CBE as active in: Ontwikkeling van residentiële bouwprojecten. Public Limited, started on 29 September 2011, 1 establishment.

What is the address of UPGRADE ESTATE?

The registered office of UPGRADE ESTATE is located at Amelia Earhartlaan 2 box 201, 9051 Gent.

Is UPGRADE ESTATE still active?

Yes. According to the CBE (16 September 2026) UPGRADE ESTATE is active, legal situation “Normale toestand”, started on 29 September 2011.

Is UPGRADE ESTATE registered on Peppol?

Yes, UPGRADE ESTATE is registered on the Peppol network with ID 0208:0840066124.

What is the enterprise number of UPGRADE ESTATE?

The enterprise number of UPGRADE ESTATE is BE0840066124.

When was UPGRADE ESTATE founded?

UPGRADE ESTATE was founded on 29 September 2011.

Who are the directors of UPGRADE ESTATE?

According to the 2025 annual accounts, the directors of UPGRADE ESTATE are: Upgrade Estate Group BV, Koenraad Belsack.

Is UPGRADE ESTATE a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 29 September 2011; 4 annual accounts filed, latest fiscal year 2025; 2 directors known from the annual account.

How much profit did UPGRADE ESTATE make in 2025?

UPGRADE ESTATE posted a profit after taxes of € 9,165 in financial year 2025.

What is the revenue of UPGRADE ESTATE?

In its most recent annual accounts (2025), UPGRADE ESTATE reported revenue of € 25,956,393.

How much does an employee at UPGRADE ESTATE earn?

The average wage cost per full-time employee at UPGRADE ESTATE was € 84,300 in 2025: staff costs of € 3 million for 35.2 FTE, according to the annual account at the National Bank. That is the employer's cost, not net pay.

How many employees does UPGRADE ESTATE have?

According to the 2025 annual accounts, UPGRADE ESTATE has 35.2 full-time equivalents (FTE).

UPGRADE ESTATE (Public Limited) - Gent - BE0840066124

Dossier UPGRADE ESTATE, printed on 16 September 2026 from databakkes.be/en/0840066124/upgrade-estate. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Tight liquidity NBB

Cash and receivables cover 22 % of short-term debt in 2025; threshold 65 %.
Shrinking team NBB

FTE fell two years in a row, from 43.6 to 35.2.
Busy address KBO

62 other companies have their registered office at the same address; threshold 10.

Financials

Financial year 2025

UPGRADE ESTATE from Gent, company number BE0840066124, closed financial year 2025 with a result of € 9,165 after tax. For that financial year UPGRADE ESTATE recorded revenue of € 26 million and equity of € 6.8 million. Compared with financial year 2024, the result moved from € 273,775 to € 9,165. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 8, 2025.

What it is worth Growing

€ 6.8 million

Assets minus debts, by the books. What is left if everything were sold and paid today.

Profit Healthy

€ 9,165

▼ 97% vs 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 336,914

▲ 126% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Growing

Stays in the company

No dividend for 2025. Retained profit grew to € 6.6 million.

People and assets in 2025

Full-time equivalents

35.2

▼ 4.4 vs 2024

Average over the fiscal year, from the social balance sheet.

Wage cost Staff costs are payroll only. Director pay sits with services and miscellaneous goods: € 6.3 million in 2025, together with rent, insurance, accountants and other services. The accounts do not split that further.

€ 3 million

▼ 10% vs 2024

€ 84,300 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.

Vehicles and equipment

€ 262,176

▲ 28% vs 2024

Book value of vehicles, furniture and equipment.

Debts at end 2025

Bank debt

None

No bank loans on the last day of the fiscal year.

Owed to suppliers

€ 8.2 million

▼ 7% vs 2024

Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 140 days on average.

Taxes and wages

€ 402,977

▲ 3% vs 2024

Taxes, VAT and social contributions still to pay.

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Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Revenue	€ 36,313,528 Revenue 2022: € 36,313,528 First fiscal year in the series	€ 41,091,804 Revenue 2023: € 41,091,804 ▲ 13% vs 2022 (€ 36,313,528) Favourable step	€ 55,498,990 Revenue 2024: € 55,498,990 ▲ 35% vs 2023 (€ 41,091,804) Favourable step	€ 25,956,393 Revenue 2025: € 25,956,393 ▼ 53% vs 2024 (€ 55,498,990) Unfavourable step	▼ 53%
Profit after taxes	€ 390,872 Profit after taxes 2022: € 390,872 First fiscal year in the series	€ 493,915 Profit after taxes 2023: € 493,915 ▲ 26% vs 2022 (€ 390,872) Favourable step	€ 273,775 Profit after taxes 2024: € 273,775 ▼ 45% vs 2023 (€ 493,915) Unfavourable step	€ 9,165 Profit after taxes 2025: € 9,165 ▼ 97% vs 2024 (€ 273,775) Unfavourable step	▼ 97%
Equity	€ 6,040,838 Equity 2022: € 6,040,838 First fiscal year in the series	€ 6,534,752 Equity 2023: € 6,534,752 ▲ 8% vs 2022 (€ 6,040,838) Favourable step	€ 6,808,527 Equity 2024: € 6,808,527 ▲ 4% vs 2023 (€ 6,534,752) Favourable step	€ 6,817,692 Equity 2025: € 6,817,692 Unchanged (€ 6,808,527) Favourable step
Total debts	€ 16,514,186 Total debts 2022: € 16,514,186 First fiscal year in the series	€ 25,630,909 Total debts 2023: € 25,630,909 ▲ 55% vs 2022 (€ 16,514,186) Unfavourable step	€ 17,465,902 Total debts 2024: € 17,465,902 ▼ 32% vs 2023 (€ 25,630,909) Favourable step	€ 16,684,552 Total debts 2025: € 16,684,552 ▼ 4% vs 2024 (€ 17,465,902) Favourable step	▼ 4%
Cash	€ 147,900 Cash 2022: € 147,900 First fiscal year in the series	€ 71,177 Cash 2023: € 71,177 ▼ 52% vs 2022 (€ 147,900) Unfavourable step	€ 149,350 Cash 2024: € 149,350 ▲ 110% vs 2023 (€ 71,177) Favourable step	€ 336,914 Cash 2025: € 336,914 ▲ 126% vs 2024 (€ 149,350) Favourable step	▲ 126%
Land & buildings	€ 270,793 Land & buildings 2022: € 270,793 First fiscal year in the series	€ 250,737 Land & buildings 2023: € 250,737 ▼ 7% vs 2022 (€ 270,793) Unchanged	€ 230,681 Land & buildings 2024: € 230,681 ▼ 8% vs 2023 (€ 250,737) Unchanged	€ 210,624 Land & buildings 2025: € 210,624 ▼ 9% vs 2024 (€ 230,681) Unchanged	▼ 9%
Retained profit	€ 5,846,738 Retained profit 2022: € 5,846,738 First fiscal year in the series	€ 6,340,652 Retained profit 2023: € 6,340,652 ▲ 8% vs 2022 (€ 5,846,738) Favourable step	€ 6,614,427 Retained profit 2024: € 6,614,427 ▲ 4% vs 2023 (€ 6,340,652) Favourable step	€ 6,623,592 Retained profit 2025: € 6,623,592 Unchanged (€ 6,614,427) Favourable step
Balance sheet total	€ 25,950,004 Balance sheet total 2022: € 25,950,004 First fiscal year in the series	€ 35,201,587 Balance sheet total 2023: € 35,201,587 ▲ 36% vs 2022 (€ 25,950,004) Unchanged	€ 26,474,831 Balance sheet total 2024: € 26,474,831 ▼ 25% vs 2023 (€ 35,201,587) Unchanged	€ 25,004,151 Balance sheet total 2025: € 25,004,151 ▼ 6% vs 2024 (€ 26,474,831) Unchanged	▼ 6%
Employees (FTE)	39.1 Employees (FTE) 2022: 39.1 First fiscal year in the series	43.6 Employees (FTE) 2023: 43.6 ▲ 4.5 vs 2022 (39.1) Unchanged	39.6 Employees (FTE) 2024: 39.6 ▼ 4 vs 2023 (43.6) Unchanged	35.2 Employees (FTE) 2025: 35.2 ▼ 4.4 vs 2024 (39.6) Unchanged	▼ 4.4

Key figures of UPGRADE ESTATE, 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 UPGRADE ESTATE?

What happened at UPGRADE ESTATE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

2026 Upgrade Estate Group BV stepped down as director. NBB
2026 Koenraad Belsack stepped down as director. NBB
Oct 8, 2025 New annual accounts for financial year 2025: profit of € 9,165 (▼ 97% vs 2024). Source: NBB ↗
2023 Upgrade Estate Group BV became a director. NBB
2020 Koenraad Belsack became a director. NBB
Sep 29, 2011 New establishment in Gent. KBO
Sep 29, 2011 Start of the company according to the CBE. KBO

In short

From € 390,872 profit in 2022 to € 9,165 profit in 2025.

Paid € 812,737 in corporate taxes since 2022.

Best year ever: 2023, with € 493,915 profit.

Pays suppliers within 140 days on average.

Original PDFs at the National Bank ↗

A new publication or filing at UPGRADE ESTATE? We notify you, reason included.

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My folder 3 companies

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

Real filings at the National Bank

Management

UPGRADE ESTATE

RE-Story 18.4%

It owns 18.4% of RE-Story itself.

See the full network in the app

Directors

According to the 2025 annual accounts

Upgrade Estate Group BV

Managing director · represented by Nele VAN DAMME

Also active at: WUU P0147, GRO P0130, ARE P0108, LIMOENGROEN

since 2023 · until 2026

Koenraad Belsack

Managing director

Also active at: UPGRADE ESTATE GROUP, TER DOENAERT, WESTATE, HOTEL SAINT - SAUVEUR, Timi UpKot, 10 Upkot, Gandia, Upliving Ghent - Queen +45 more

since 2020 · until 2026

Establishments

Establishment units

Physical locations of this company

Registered office

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

0840.066.124

VAT number

BE 0840.066.124

Registered office

Amelia Earhartlaan 2 bus 201, 9051 Gent

Names & denominations

UPGRADE ESTATE

Enterprise type

Rechtspersoon

Legal form

Public limited company

Legal situation

Normale toestand

Start date

29 September 2011

Peppol

Active · Active since 22 May 2025

Activities · NACE

Ontwikkeling van residentiële bouwprojecten

Algemene bouw van andere niet-residentiële gebouwen

View on CBE Public ↗ Annual accounts (NBB) ↗

UPGRADE ESTATE

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Financials

What happened to UPGRADE ESTATE?

Know what changes at your customers, suppliers and competitors. Without reading an annual account.

Management

Directors

Establishments

Establishment units

Who else lives here?

Details

Frequently asked questions