ACTIVE

UPGRADE ESTATE GROUP

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Financial year 2025 · closed on 31/03/2025
Net result
1,3 M €
-72.0% YoY
Gross margin
3 M €
+36.1% YoY
Equity
50,4 M €
+2.6% YoY
Workforce
38,5 ETP
+13.9% YoY

What does UPGRADE ESTATE GROUP do?

UPGRADE ESTATE GROUP is a Private limited company incorporated in 1955. Its main activity is: Buying and selling of own real estate. Its registered office is in Gent. It employs on average 38,5 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0400.927.922
Incorporation
29/09/1955
Legal form
Private limited company
Registered office
Amelia Earhartlaan 2 box 201
9051 Gent · FlandreSee on map
Contributed capital
24 327 537,51 €
Latest accounts
31/03/2025
Average workforce
38,5 ETP
Activities (NACE)
68100Buying and selling of own real estate· main68110Buying and selling of own real estate68310Real estate agencies68311Real estate agencies68310Real estate agencies68311Real estate agencies
Joint committees (3)
  • 323
  • 3230
  • 32300
Signals
ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 17 financial years

20252024202320222019201820172016201520142013201220112010200920082007
Income statement
Gross margin3 M €2,2 M €2,2 M €2 M €1,3 M €1,2 M €783 k €770,8 k €473,2 k €251,1 k €339,4 k €156,6 k €100,8 k €38,1 k €-5,5 k €-5,1 k €7,4 k €
EBITDA371,4 k €-127,2 k €243,4 k €245,6 k €92,4 k €262,3 k €203,7 k €239,8 k €150,3 k €80,7 k €169,3 k €38,8 k €26,3 k €36,8 k €-6,7 k €-6,2 k €7 k €
Operating result-69,4 k €-209,7 k €156,4 k €149,4 k €-10,1 k €169,1 k €117,7 k €139,4 k €69,7 k €54,6 k €143,9 k €18,6 k €8,8 k €24,6 k €-7,4 k €-6,9 k €2,7 k €
Net result1,3 M €4,8 M €83,9 k €72,8 k €111,7 k €3,9 M €30,6 k €47,4 k €20,4 k €17,4 k €78,6 k €2 k €501,9 €23,3 k €-8,4 k €-7,1 k €2,6 k €
Balance sheet
Equity50,4 M €49,1 M €863,1 k €1,4 M €1,2 M €1,1 M €863,7 k €833,2 k €188,6 k €168,2 k €150,8 k €15,8 k €13,8 k €13,3 k €-10 k €-1,6 k €5,5 k €
Total assets96,6 M €66,1 M €4,2 M €4 M €3,2 M €7,1 M €2,6 M €2,9 M €1,5 M €619,2 k €761,4 k €470,9 k €305,1 k €71,6 k €7,6 k €11,8 k €20 k €
Cash385,5 k €651,5 k €1,2 M €182 k €315,9 k €146,1 k €287,2 k €48,3 k €64,3 k €28,7 k €44,2 k €12,5 k €9,4 k €36 k €33 €33 €–
Debts44 M €15,8 M €2,4 M €1,7 M €2 M €6,1 M €1,7 M €2 M €1,3 M €451 k €610,6 k €455,1 k €291,3 k €58,3 k €17,2 k €13,1 k €14,3 k €
Other
Workforce38,5 ETP33,8 ETP33,1 ETP32,8 ETP24,5 ETP19,6 ETP19,5 ETP11,9 ETP7,5 ETP3,3 ETP3,5 ETP2,4 ETP1,8 ETP––––
Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/03/2025 · 5 active · 13 ended

Active mandates

Koenraad Belsack

Managing director · since 31 octobre 2023

Active
KOSSAAT

Director · since 31 octobre 2023 · 0438.774.946

Represented by Jan DE BONDT

Active
Kurt Verweire

Director · since 31 octobre 2023 · 0893.151.254

Represented by Kurt VERWEIRE

Active
Nele Van Damme

Managing director · since 31 octobre 2023

Active
tweak it

Director · since 31 octobre 2023 · 0677.600.725

Represented by Wim WUYTS

Active

Ended mandates

Diederik Van Neste

Director · since 10 mars 2021 · until 31 octobre 2023

Ended
Diederik Van Neste

Director · since 10 mars 2021

Ended
UPGRADE ESTATE GROUP

Director · since 29 juin 2020 · 0666.960.023

Represented by Nele Van Damme

Ended
UPGRADE ESTATE GROUP

Director · since 29 juin 2020 · until 31 octobre 2023 · 0666.960.023

Represented by Nele Van Damme

Ended
At this address

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Annual accounts

Full financial information

202520242023202220212019
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/04/202401/04/202301/04/202201/04/202101/09/201901/09/2018
Closing of the financial year31/03/202531/03/202431/03/202331/03/202231/03/202131/08/2019
Length of the financial year12 months12 months12 months12 months19 months12 months
Filing date08/10/202520/09/202409/10/202321/10/202221/09/202127/03/2020
General meeting12/09/202513/09/202408/09/202309/09/202210/09/202128/02/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/03/202512/09/202508/10/2025DutchPDF
Abridged model31/03/202413/09/202420/09/2024DutchPDF
Abridged model31/03/202308/09/202309/10/2023DutchPDF
Abridged model31/03/202209/09/202221/10/2022DutchPDF
Abridged model31/03/202110/09/202121/09/2021DutchPDF
Abridged model31/08/201928/02/202027/03/2020DutchPDF
Abridged model31/08/201828/03/201929/03/2019DutchPDF
Abridged model31/08/201723/02/201804/04/2018DutchPDF
Abridged model30/09/201631/03/201728/04/2017DutchPDF
Abridged model30/09/201525/03/201631/03/2016DutchPDF
Abridged model30/09/201427/03/201531/03/2015DutchPDF
Abridged model30/09/201325/04/201430/04/2014DutchPDF
Abridged model30/09/201229/03/201303/04/2013DutchPDF
Abridged model30/09/201130/03/201202/04/2012DutchPDF
Abridged model30/09/201025/03/201131/03/2011DutchPDF
Abridged model30/09/200918/12/200931/03/2010DutchPDF
Abridged model30/09/200819/12/200816/02/2009DutchPDF
Abridged model30/09/200725/01/200814/02/2008DutchPDF
Abridged model30/09/200609/02/200722/02/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/03/2025 · 5 active · 13 ended

Active mandates

Koenraad Belsack

Managing director · since 31 octobre 2023

Active
KOSSAAT

Director · since 31 octobre 2023 · 0438.774.946

Represented by Jan DE BONDT

Active
Kurt Verweire

Director · since 31 octobre 2023 · 0893.151.254

Represented by Kurt VERWEIRE

Active
Nele Van Damme

Managing director · since 31 octobre 2023

Active
tweak it

Director · since 31 octobre 2023 · 0677.600.725

Represented by Wim WUYTS

Active

Ended mandates

Diederik Van Neste

Director · since 10 mars 2021 · until 31 octobre 2023

Ended
Diederik Van Neste

Director · since 10 mars 2021

Ended
UPGRADE ESTATE GROUP

Director · since 29 juin 2020 · 0666.960.023

Represented by Nele Van Damme

Ended
UPGRADE ESTATE GROUP

Director · since 29 juin 2020 · until 31 octobre 2023 · 0666.960.023

Represented by Nele Van Damme

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates05/02/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office30/04/2024
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Restructuring12/12/2023
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - KAPITAAL - AANDELEN - DOEL - BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring19/09/2023
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates13/04/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates20/07/2020
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
    PDF
  • Mandates19/07/2018
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares16/03/2018
    KAPITAAL - AANDELEN
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 07/09/2025
    nominationHilde Cloostermans-Huwaert — niet-statutaire bestuurder
  2. 2025
    Annual accounts 20251,3 M €↓
  3. 2024
    Annual accounts 20244,8 M €↑
  4. 2024
    Name changeUpgrade Estate Group
  5. 2023
    Annual accounts 202383,9 k €↑
  6. 2022
    Annual accounts 202272,8 k €↓
  7. 2022
    Name changeUpgrade Service
  8. 2019
    Annual accounts 2019111,7 k €↓
  9. 2018
    Annual accounts 20183,9 M €↑
  10. 2017
    Annual accounts 201730,6 k €↓
  11. 2016
    Annual accounts 201647,4 k €↑
  12. 2015
    Annual accounts 201520,4 k €↑
  13. 2014
    Annual accounts 201417,4 k €↓
  14. 2013
    Annual accounts 201378,6 k €↑
  15. 2012
    Annual accounts 20122 k €↑
  16. 2011
    Annual accounts 2011501,9 €↓
  17. 2010
    Annual accounts 201023,3 k €↑
  18. 2009
    Annual accounts 2009-8,4 k €↓
  19. 2008
    Annual accounts 2008-7,1 k €↓
  20. 2007
    Annual accounts 20072,6 k €
  21. 29/09/1955
    IncorporationPrivate limited company