ACTIVE

UPscale

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Financial year 2026 · Closed on 31/03/2026

Net result1,9 M €-9,0 %over 1 year

Gross margin10,2 M €+187,3 %over 1 year

Equity72,4 M €-4,2 %over 1 year

Workforce0,0 ETP

Identity

Source · BCE/KBO

UPscale is a Private limited company incorporated in 2014. Its registered office is in Gent.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0544.749.822
Incorporation: 27/01/2014
Legal form: Private limited company
Registered office: Amelia Earhartlaan 2 box 201
9051 Gent · FlandreSee on map
Contributed capital: 18 578 142,83 €
Latest accounts: 31/03/2026
Average workforce: 0,0 ETP

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

Financials

Source · NBB, 9 filings

Trend over 8 financial years

	2026		2025		2024		2023		2022
Income statement
Gross margin	10,2 M €	+187%	3,6 M €	-57.7%	8,4 M €	+63.5%	5,1 M €	-11.4%	5,8 M €
EBITDA	2,8 M €	-21.1%	3,6 M €	-57.7%	8,4 M €	+63.5%	5,1 M €	-11.4%	5,8 M €
Operating result	2,8 M €	-21.1%	3,6 M €	-57.7%	8,4 M €	+63.5%	5,1 M €	-11.4%	5,8 M €
Net result	1,9 M €	-9.0%	2 M €	-60.8%	5,2 M €	+15.0%	4,5 M €	-52.1%	9,4 M €
Balance sheet
Equity	72,4 M €	-4.2%	75,6 M €	+0.7%	75 M €	+0.4%	74,7 M €	+0.0%	74,7 M €
Total assets	148,3 M €	-13.4%	171,2 M €	+26.0%	135,9 M €	-31.7%	198,9 M €	-2.9%	205 M €
Cash	750,7 k €	-38.4%	1,2 M €	+153%	481 k €	-93.0%	6,9 M €	+9672%	70,6 k €
Debts	75,8 M €	-20.7%	95,6 M €	+57.0%	60,9 M €	-50.9%	124,1 M €	-4.6%	130,2 M €
Other
Workforce	0,0 ETP		0,0 ETP		0,0 ETP		0,0 ETP		–

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/03/2026

2 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Koenraad Belsack	Directorsince 29/06/2021
Nele Van Damme	Directorsince 29/06/2021

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
421 Concepts0823.359.952Represented by Nils Vanhauwaert	Mandate27/03/2018 → 2019 accountsDirector27/03/2018 → 2021 accounts
Nelstein0636.810.047Represented by Nele Van Damme	Director27/03/2018 → 2021 accounts

Other companies at this address

Amelia Earhartlaan 2 9051 Gent

Company	CBE no.
100● Active	0743.478.472
101● Active	0743.479.561
102● Active	0743.480.353
10 Upkot● Active	0423.791.614
85● Active	0819.492.820
93● Active	0711.912.197
94● Active	0724.877.238
97● Active	0737.858.214
98● Active	0737.863.657
99● Active	0743.475.207
Andreas BidCo● Active	1016.654.327
ARE P0108● Active	0793.510.676
ART UPKOT● Active	0891.055.460
BACKSTAGE²UPKOT● Active	0454.973.748
BAUDELO UPKOT● Active	0545.801.677
BIOTECH ENGINEERING● Active	0460.320.725
BRO Upkot● Active	0662.477.930
Buzz Upkot● Active	0729.978.151
Campus Upkot● Active	0680.956.727
Constelaris● Active	1019.186.027

Full financial information

Source · NBB

	2026	2025	2024	2023	2022	2021
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/04/2025	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/03/2026	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	25/09/2026	08/10/2025	16/09/2024	25/09/2023	13/10/2022	05/10/2021
General meeting	11/09/2026	13/09/2025	14/09/2024	09/09/2023	10/09/2022	11/09/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 9 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/03/2026	11/09/2026	25/09/2026	Dutch	PDF
Abridged model	31/03/2025	13/09/2025	08/10/2025	Dutch	PDF
Abridged model	31/03/2024	14/09/2024	16/09/2024	Dutch	PDF
Abridged model	31/03/2023	09/09/2023	25/09/2023	Dutch	PDF
Abridged model	31/03/2022	10/09/2022	13/10/2022	Dutch	PDF
Abridged model	31/03/2021	11/09/2021	05/10/2021	Dutch	PDF
Abridged model	31/03/2020	12/11/2020	25/11/2020	Dutch	PDF
Abridged model	31/03/2019	30/09/2019	30/10/2019	Dutch	PDF
Abridged model	31/03/2018	08/09/2018	31/10/2018	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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.

Board of directors

Source · NBB, accounts to 31/03/2026

2 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Koenraad Belsack	Directorsince 29/06/2021
Nele Van Damme	Directorsince 29/06/2021

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
421 Concepts0823.359.952Represented by Nils Vanhauwaert	Mandate27/03/2018 → 2019 accountsDirector27/03/2018 → 2021 accounts
Nelstein0636.810.047Represented by Nele Van Damme	Director27/03/2018 → 2021 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Registered office25/04/2024
MAATSCHAPPELIJKE ZETEL
PDF
Mandates03/08/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Restructuring26/04/2018
BENAMING - MAATSCHAPPELIJKE ZETEL - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring01/12/2017
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates24/03/2017
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares03/03/2014
KAPITAAL - AANDELEN
PDF
Other05/02/2014
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings8 filings

Mandates

Koenraad Belsack

Nele Van Damme

Nelstein

UPGRADE ESTATE GROUP

421 Concepts

UPscale

2014201520162017201820192020202120222023202420252026

UPscale

Amelia Earhartlaan 2 bte 201, 9051 Sint-Denijs-WestremBurggravenlaan 31/301, 9000 Gent

Director

Manager

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Amelia Earhartlaan 2 bte 201, 9051 Sint-Denijs-WestremCurrent	accounts 2025 → 2026	Accounts 2026 · 2026-00526945
Amelia Earhartlaan 2/201, 9051 Sint-Denijs-Westrem	accounts 2024	Accounts 2024 · 2024-00462038
Burggravenlaan 31/301, 9000 Gent	accounts 2022 → 2023	Accounts 2023 · 2023-00453918

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
UPscaleCurrent	accounts 2022 → 2026	Accounts 2026 · 2026-00526945

Events

2026
Annual accounts 20261,9 M €↓
2025
Annual accounts 20252 M €↓
2024
Annual accounts 20245,2 M €↑
2023
Annual accounts 20234,5 M €↓
2022
Annual accounts 20229,4 M €↓
2020
Annual accounts 202034,8 M €↑
2019
Annual accounts 201910,7 M €↑
2018
Annual accounts 20185,3 M €
27/01/2014
IncorporationPrivate limited company

UPscale

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events