ACTIVE

UpcircleS

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Financial year 2025 · closed on 31/12/2025
Net result
4,5 M €
+257.7% YoY
Gross margin
12,2 k €
-82.2% YoY
Equity
5,6 M €
-20.5% YoY

What does UpcircleS do?

UpcircleS is a Public limited company incorporated in 2019. Its main activity is: Management consultancy activities. Its registered office is in Namur.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0734.410.259
Incorporation
13/09/2019
Legal form
Public limited company
Registered office
Avenue Parc d'Amée(DV) 275
5100 Namur · WallonieSee on map
Contributed capital
1 500 000,00 €
Latest accounts
31/12/2025
Activities (NACE)
70200Management consultancy activities· main70220Business and other management consultancy activities64200Activities of holding companies64210Activities of holding companies
Signals
ProfitableSolid equityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 6 financial years

202520242023202220212020
Income statement
Gross margin12,2 k €68,6 k €76 k €33,9 k €61,9 k €-11,8 k €
EBITDA11,2 k €67,7 k €75 k €33 k €61,6 k €-12,5 k €
Operating result-35,7 k €20,7 k €28 k €-14 k €61,6 k €-12,5 k €
Net result4,5 M €1,3 M €1,1 M €991,4 k €360,4 k €2,9 M €
Balance sheet
Equity5,6 M €7,1 M €6,8 M €5,7 M €4,7 M €4,4 M €
Total assets17,5 M €12,5 M €10,2 M €10 M €9,7 M €9,8 M €
Cash1,3 M €1,6 M €250,7 k €62,9 k €47 k €33,4 k €
Debts11,9 M €5,4 M €3,4 M €4,2 M €5 M €5,4 M €
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 · 5 active · 9 ended

Active mandates

CALI EVOLUTION

Director · since 06 juillet 2022 · 0462.097.013

Represented by Denis Knoops

Active
CARABI

Director · since 06 juillet 2022 · 0881.941.717

Represented by Emmanuel Schellekens

Active
Howard

Director · since 06 juillet 2022 · 0728.799.008

Represented by Sébastien D'hondt

Active
Riverside Management

Managing director · since 06 juillet 2022 · 0603.993.759

Represented by Benoit Ghiot

Active
AEL Management & retail

Mandate · 0663.700.922

Represented by Kevin Kaesens

Active

Ended mandates

CALI EVOLUTION

Director · since 24 février 2021 · 0462.097.013

Represented by Denis KNOOPS

Ended
CALI EVOLUTION

Director · since 24 février 2021 · 0462.097.013

Represented by Denis Knoops

Ended
CARABI

Director · since 13 septembre 2019 · 0881.941.717

Represented by Emmanuel SCHELLEKENS

Ended
CARABI

Director · since 13 septembre 2019 · 0881.941.717

Represented by Emmanuel Schellekens

Ended
At this address

Other companies at this address

CompanyCBE no.
EUROPE LABELS● Active
0774.841.740
Riverside Management● Active
0603.993.759
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/09/2019
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months16 months
Filing date09/06/202613/06/202510/06/202426/06/202313/06/202227/08/2021
General meeting05/06/202606/06/202507/06/202402/06/202303/06/202204/06/2021
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

6 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202505/06/202609/06/2026FrenchPDF
Abridged model31/12/202406/06/202513/06/2025FrenchPDF
Abridged model31/12/202307/06/202410/06/2024FrenchPDF
Abridged model31/12/202202/06/202326/06/2023FrenchPDF
Abridged model31/12/202103/06/202213/06/2022FrenchPDF
Abridged model31/12/202004/06/202127/08/2021FrenchPDF
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 · 5 active · 9 ended

Active mandates

CALI EVOLUTION

Director · since 06 juillet 2022 · 0462.097.013

Represented by Denis Knoops

Active
CARABI

Director · since 06 juillet 2022 · 0881.941.717

Represented by Emmanuel Schellekens

Active
Howard

Director · since 06 juillet 2022 · 0728.799.008

Represented by Sébastien D'hondt

Active
Riverside Management

Managing director · since 06 juillet 2022 · 0603.993.759

Represented by Benoit Ghiot

Active
AEL Management & retail

Mandate · 0663.700.922

Represented by Kevin Kaesens

Active

Ended mandates

CALI EVOLUTION

Director · since 24 février 2021 · 0462.097.013

Represented by Denis KNOOPS

Ended
CALI EVOLUTION

Director · since 24 février 2021 · 0462.097.013

Represented by Denis Knoops

Ended
CARABI

Director · since 13 septembre 2019 · 0881.941.717

Represented by Emmanuel SCHELLEKENS

Ended
CARABI

Director · since 13 septembre 2019 · 0881.941.717

Represented by Emmanuel Schellekens

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates17/06/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Restructuring28/09/2022
    CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Restructuring22/09/2022
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Restructuring14/07/2022
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Mandates08/03/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates05/12/2019
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates25/10/2019
    DEMISSIONS, NOMINATIONS
    PDF
  • Other17/09/2019
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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. 2025
    Annual accounts 20254,5 M €↑
  2. 2024
    Annual accounts 20241,3 M €↑
  3. 2023
    Annual accounts 20231,1 M €↑
  4. 2022
    Annual accounts 2022991,4 k €↑
  5. 2021
    Annual accounts 2021360,4 k €↓
  6. 2020
    Annual accounts 20202,9 M €
  7. 13/09/2019
    IncorporationPublic limited company