Financials
Financial year 2025
Upgrade Energy Holding from Brussel, company number BE0844561083, closed financial year 2025 with a result of € 3.4 million after tax. For that financial year Upgrade Energy Holding recorded a gross margin of € 3.5 million and equity of € 6.3 million. Compared with financial year 2024, the result moved from € 603,465 to € 3.4 million. Profitable, and profit is growing. 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 July 25, 2025.
€ 6.3 million
▲ 279% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3.4 million
▲ € 2.8 million vs 2024
Profit after tax over the fiscal year.
€ 15,846
▼ 97% 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 € 2.5 million.
Debts at end 2025
€ 654,990
▼ 58% vs 2024
Loans from banks and other lenders, long and short.
€ 92,409
▲ 141% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 8,014
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2021 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -95,104 | € -433,440 | € 846,439 | € 3,461,423 | ▲ € 2.6 million |
| Profit after taxes | € 816,186 | € -498,937 | € 603,465 | € 3,431,861 | ▲ € 2.8 million |
| Equity | € 1,501,258 | € 1,067,321 | € 1,670,786 | € 6,329,505 | ▲ 279% |
| Total debts | € 49,638 | € 1,567,441 | € 2,110,684 | € 1,987,294 | ▼ 6% |
| Cash | € 76,837 | € 16,151 | € 482,893 | € 15,846 | ▼ 97% |
| Retained profit | € -1,026,492 | € -1,525,429 | € -921,964 | € 2,509,897 | ▲ € 3.4 million |
| Bank debt | € 0 | € 1,449,900 | € 1,569,900 | € 654,990 | ▼ 58% |
| Balance sheet total | € 1,550,896 | € 2,634,762 | € 3,781,470 | € 8,316,799 | ▲ 120% |
Key figures of Upgrade Energy Holding, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2026 has not been filed yet; it was expected before 28 September 2026.
What happened to Upgrade Energy Holding?
What happened at Upgrade Energy Holding in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 3.4 million (▲ € 2.8 million vs 2024). Source: NBB ↗
- Vermeire Consulting became a director. NBB
- Liesbeth Van Schoubroeck became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 816,186 profit in 2021 to € 3.4 million profit in 2025.
Best year ever: 2025, with € 3.4 million profit.
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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
The stake of Vermeire Consulting, GreenVentures Cleantech comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Upgrade Energy HoldingBehind Upgrade Energy Holding are Vermeire Consulting and Liesbeth Van Schoubroeck. The shares are held by Vermeire Consulting (50%) and GreenVentures Cleantech (13.4%). It owns 100% of Upgrade Energy Africa LTD, 100% of Lion Thorn Solar, 70% of Usakos Solar (Proprietary) Ltd, 60% of Tenergy Technologies Ltd, 41% of Swartberg Energy Facility Proprietary Ltd and 10% of Midvaal Solar PV Genaration (Pty) LTD itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Raf VERMEIRE
since 2021
since 2020
Shareholders
Participations
Upgrade Energy Africa LTD
100%
Lion Thorn Solar
100%
Usakos Solar (Proprietary) Ltd
70%
Tenergy Technologies Ltd
60%
Swartberg Energy Facility Proprietary Ltd
41%
Establishments
Establishment units
Physical locations of this company
Circusstraat 23
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0844.561.083
- VAT number
- BE 0844.561.083
- Registered office
- Circusstraat 23, 1000 Brussel
- Names & denominations
- Upgrade Energy Holding
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 16 March 2012
- Peppol
- Active · Active since 23 Dec 2025
- Activities · NACE
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