ACTIVE

UPGRADE IMMO

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Financial year 2025 · closed on 31/12/2025

Net result

89,8 k €

+22.5% YoY

Gross margin

163,9 k €

+8.2% YoY

Equity

264,9 k €

+51.3% YoY

What does UPGRADE IMMO do?

UPGRADE IMMO is a Private limited company incorporated in 1991. Its registered office is in Ixelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0444.061.545

Incorporation

03/05/1991

Legal form

Private limited company

Registered office

Avenue du Pesage 10
1050 Ixelles · BruxellesSee on map

Contributed capital

1 120,07 €

Latest accounts

31/12/2025

Signals

ProfitablePositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	163,9 k €	+8.2%	151,5 k €	+1.9%	148,7 k €	+37.6%	108,1 k €	+51.8%	71,2 k €	-68.8%	228,4 k €	-10.8%	256,1 k €	+216%	81 k €	+28.8%	62,9 k €	+5.3%	59,8 k €	+74.5%	34,3 k €	+94.2%	17,6 k €	+186%	6,2 k €	-76.3%	26,1 k €	+1519%	1,6 k €	+201%	-1,6 k €	+81.0%	-8,3 k €	-132%	25,7 k €	+397%	5,2 k €
EBITDA	160,3 k €	+8.1%	148,3 k €	+1.9%	145,6 k €	+36.7%	106,5 k €	+65.6%	64,3 k €	-71.6%	226,5 k €	-4.9%	238,1 k €	+213%	76,1 k €	+27.2%	59,8 k €	+2.7%	58,3 k €	+97.5%	29,5 k €	+5638%	514 €	-86.4%	3,8 k €	-84.9%	25,1 k €	+1457%	1,6 k €	+183%	-1,9 k €	+78.6%	-9 k €	-137%	24,3 k €	+443%	4,5 k €
Operating result	132,1 k €	+10.2%	119,8 k €	-4.1%	124,8 k €	+60.0%	78 k €	+28.9%	60,5 k €	-68.3%	190,9 k €	-12.5%	218 k €	+225%	67,1 k €	+21.1%	55,4 k €	+1.8%	54,4 k €	+115%	25,3 k €	+872%	-3,3 k €	-444%	-602 €	-103%	22,8 k €	+3892%	570 €	+123%	-2,5 k €	+78.7%	-11,5 k €	-152%	22,3 k €	+488%	3,8 k €
Net result	89,8 k €	+22.5%	73,3 k €	-8.7%	80,3 k €	+55.6%	51,6 k €	+42.9%	36,1 k €	-76.0%	150,6 k €	-14.2%	175,5 k €	+243%	51,2 k €	+15.6%	44,3 k €	+8.8%	40,7 k €	+92.3%	21,2 k €	+678%	-3,7 k €	-322%	-868 €	-104%	22,6 k €	+5172%	429 €	+117%	-2,6 k €	+77.9%	-11,7 k €	-153%	22,1 k €	+509%	3,6 k €
Balance sheet
Equity	264,9 k €	+51.3%	175,1 k €	+72.1%	101,7 k €	+376%	21,4 k €	+171%	-30,2 k €	-110%	315,5 k €	+39.1%	226,8 k €	+72.7%	131,4 k €	+63.9%	80,1 k €	+124%	35,8 k €	+838%	-4,9 k €	+81.3%	-26 k €	-16.4%	-22,4 k €	-4.0%	-21,5 k €	+51.3%	-44,1 k €	+1.0%	-44,5 k €	-6.2%	-42 k €	-38.6%	-30,3 k €	+42.1%	-52,4 k €
Total assets	2,3 M €	+199%	755 k €	+23.3%	612,5 k €	+94.4%	315,1 k €	+28.7%	244,9 k €	-63.9%	677,8 k €	+77.0%	382,9 k €	+5.9%	361,7 k €	+120%	164,6 k €	+75.5%	93,8 k €	+136%	39,8 k €	+127%	17,5 k €	-45.7%	32,3 k €	-30.5%	46,5 k €	+344%	10,5 k €	-21.2%	13,3 k €	-26.1%	18 k €	-54.6%	39,6 k €	+50.6%	26,3 k €
Cash	128 k €	+37.6%	93 k €	+37.5%	67,7 k €	-1.6%	68,7 k €	-14.8%	80,7 k €	-82.9%	472,9 k €	+44.3%	327,8 k €	+142%	135,5 k €	-6.5%	144,9 k €	+105%	70,7 k €	+112%	33,3 k €	+165%	12,6 k €	-50.8%	25,5 k €	+327%	6 k €	-23.5%	7,8 k €	-14.5%	9,1 k €	-35.2%	14,1 k €	-32.0%	20,8 k €	+157%	8,1 k €
Debts	2 M €	+243%	580 k €	+13.5%	510,8 k €	+73.9%	293,7 k €	+6.9%	274,7 k €	-24.2%	362,3 k €	+132%	156 k €	-32.3%	230,4 k €	+173%	84,5 k €	+45.8%	57,9 k €	+29.9%	44,6 k €	+2.4%	43,6 k €	-20.3%	54,6 k €	-19.6%	68 k €	+24.5%	54,6 k €	-5.6%	57,8 k €	-3.5%	59,9 k €	-14.2%	69,9 k €	-11.1%	78,6 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		0,3 ETP	-70.0%	1,0 ETP		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 7 ended

Active mandates

ALL Square

Director · 0778.938.605

Represented by CARL SPETH

Active

MA2D

Director · 0776.816.283

Represented by DAVID DU BOIS

Active

Ended mandates

DAVID DU BOIS

Mandate

Ended

DAVID DU BOIS

Managing director

Ended

DAVID DU BOIS

Manager

Ended

Josette PEETERS

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
ACP - PESAGE 10 - AVENUE DU PESAGE 10 - 1050 IXELLES● Active	0788.534.378
ALL Square● Active	0778.938.605
DACARISE● Active	1029.123.973
DBP INVEST● Active	0780.944.921
J.L.G.● Active	0849.101.079
JVH City● Active	0776.812.721
MA2D● Active	0776.816.283

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	26/08/2026	01/07/2025	20/09/2024	08/02/2024	28/09/2022	23/09/2021
General meeting	19/06/2026	20/06/2025	20/06/2024	15/06/2023	16/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	19/06/2026	26/08/2026	French	PDF
Abridged model	31/12/2024	20/06/2025	01/07/2025	French	PDF
Abridged model	31/12/2023	20/06/2024	20/09/2024	French	PDF
Micro modelCorrection	31/12/2022	15/06/2023	08/02/2024	French	PDF
Micro model	31/12/2022	15/06/2023	05/10/2023	French	PDF
Micro model	31/12/2021	16/06/2022	28/09/2022	French	PDF
Micro model	31/12/2020	30/06/2021	23/09/2021	French	PDF
Micro model	31/12/2019	27/08/2020	09/12/2020	French	PDF
Abridged model	30/06/2018	15/12/2018	14/02/2019	French	PDF
Abridged model	30/06/2017	24/01/2018	12/02/2018	French	PDF
Abridged model	30/06/2016	23/01/2017	27/01/2017	French	PDF
Abridged model	30/06/2015	15/12/2015	18/12/2015	French	PDF
Abridged model	30/06/2014	18/12/2014	06/01/2015	French	PDF
Abridged model	30/06/2013	06/01/2014	06/01/2015	French	PDF
Abridged model	30/06/2012	04/01/2013	15/02/2013	French	PDF
Abridged model	30/06/2011	20/02/2012	27/02/2012	French	PDF
Abridged model	30/06/2010	22/02/2011	14/03/2011	French	PDF
Abridged model	30/06/2009	21/12/2009	15/03/2010	French	PDF
Abridged model	30/06/2008	29/12/2008	30/12/2008	French	PDF
Abridged model	30/06/2007	28/12/2007	17/04/2008	French	PDF
Abridged model	30/06/2006	12/01/2007	29/01/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 31/12/2025 · 2 active · 7 ended

Active mandates

ALL Square

Director · 0778.938.605

Represented by CARL SPETH

Active

MA2D

Director · 0776.816.283

Represented by DAVID DU BOIS

Active

Ended mandates

DAVID DU BOIS

Mandate

Ended

DAVID DU BOIS

Managing director

Ended

DAVID DU BOIS

Manager

Ended

Josette PEETERS

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

25/08/2026
—
PDF
Registered office13/10/2023
SIEGE SOCIAL
PDF
Mandates22/12/2022
DEMISSIONS, NOMINATIONS
PDF
Restructuring03/02/2022
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring18/11/2021
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates26/08/2019
DENOMINATION - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE
PDF
Registered office30/05/2017
SIEGE SOCIAL
PDF
Mandates04/08/2015
DEMISSIONS, NOMINATIONS
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

2025
Annual accounts 202589,8 k €↑
2024
Annual accounts 202473,3 k €↓
2023
Annual accounts 202380,3 k €↑
2022
Annual accounts 202251,6 k €↑
2021
Annual accounts 202136,1 k €↓
2020
Annual accounts 2020150,6 k €↓
2019
Annual accounts 2019175,5 k €↑
2019
Name changeUPGRADE IMMO
2018
Annual accounts 201851,2 k €↑
2017
Annual accounts 201744,3 k €↑
2016
Annual accounts 201640,7 k €↑
2015
Annual accounts 201521,2 k €↑
2014
Annual accounts 2014-3,7 k €↓
2013
Annual accounts 2013-868 €↓
2012
Annual accounts 201222,6 k €↑
2011
Annual accounts 2011429 €↑
2010
Annual accounts 2010-2,6 k €↑
2009
Annual accounts 2009-11,7 k €↓
2008
Annual accounts 200822,1 k €↑
2007
Annual accounts 20073,6 k €
2007
Name changeLES VERITABLES
03/05/1991
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

UPGRADE IMMO

Overview

What does UPGRADE IMMO do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline