ACTIVE

UPGRADED

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Financial year 2025 · closed on 31/12/2025

Net result

33,7 k €

+1109.2% YoY

Gross margin

206,4 k €

+53.0% YoY

Equity

219,3 k €

+18.1% YoY

Workforce

2,2 ETP

What does UPGRADED do?

UPGRADED is a Private limited company incorporated in 2009. Its main activity is: Travel agency activities. Its registered office is in Edegem. It employs on average 2,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0815.843.244

Incorporation

24/06/2009

Legal form

Private limited company

Registered office

Zilverplein 2
2650 Edegem · FlandreSee on map

Contributed capital

25 000,00 €

Latest accounts

31/12/2025

Average workforce

2,2 ETP

Activities (NACE)

79110Travel agency activities· main 79110Travel agency activities 79120Tour operator activities 79120Tour operator activities

Joint committees (2)

200
20000

Contacts

3 public details availableLog in to view

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2025		2024		2023		2022		2021		2020		2014		2013		2012		2011		2010
Income statement
Gross margin	206,4 k €	+53.0%	135 k €	-27.8%	187 k €	-4.6%	196 k €	+1542%	-13,6 k €	-106%	224,7 k €	-35.1%	346,1 k €	+5.6%	327,8 k €	+27.2%	257,6 k €	+13.6%	226,7 k €	+15.8%	195,8 k €
EBITDA	61,1 k €	+258%	17,1 k €	-85.5%	117,6 k €	-19.3%	145,6 k €	+410%	-47 k €	-145%	104,5 k €	-43.1%	183,6 k €	+5.7%	173,7 k €	+52.9%	113,6 k €	+31.7%	86,2 k €	-18.1%	105,2 k €
Operating result	58,2 k €	+292%	14,8 k €	-87.2%	116,3 k €	-13.5%	134,5 k €	+313%	-63 k €	-175%	84,5 k €	-23.7%	110,8 k €	-25.1%	148 k €	+79.4%	82,5 k €	+53.8%	53,6 k €	-18.9%	66,1 k €
Net result	33,7 k €	+1109%	2,8 k €	-96.7%	85,1 k €	-35.6%	132,2 k €	+280%	-73,4 k €	-211%	65,9 k €	-17.2%	79,6 k €	-28.9%	112 k €	+64.4%	68,1 k €	+82.3%	37,4 k €	+16.3%	32,1 k €
Balance sheet
Equity	219,3 k €	+18.1%	185,6 k €	+1.5%	182,9 k €	+2.9%	177,7 k €	+290%	45,5 k €	-61.7%	119 k €	-40.3%	199,2 k €	+21.0%	164,6 k €	+60.4%	102,6 k €	+29.1%	79,5 k €	+88.7%	42,1 k €
Total assets	1 M €	+32.0%	761,1 k €	-28.9%	1,1 M €	+84.6%	579,5 k €	-19.1%	716,1 k €	+2.4%	699 k €	-49.8%	1,4 M €	+23.4%	1,1 M €	+6.8%	1,1 M €	+7.5%	982,1 k €	+11.8%	878,8 k €
Cash	204,7 k €	-5.6%	216,7 k €	-29.6%	307,8 k €	+97.1%	156,2 k €	-62.8%	420 k €	-15.6%	497,6 k €	+20.5%	412,8 k €	-44.4%	742 k €	+26.9%	584,5 k €	+47.5%	396,2 k €	+12.7%	351,4 k €
Debts	235,2 k €	+82.9%	128,6 k €	-50.0%	257,3 k €	+6.2%	242,2 k €	-14.5%	283,4 k €	+15.4%	245,5 k €	-79.4%	1,2 M €	+23.8%	963,6 k €	+1.1%	953,5 k €	+5.6%	902,6 k €	+7.9%	836,7 k €
Other
Workforce	2,2 ETP		–		–		–		1,0 ETP	-47.4%	1,9 ETP	-26.9%	2,6 ETP	0.0%	2,6 ETP	-3.7%	2,7 ETP	0.0%	2,7 ETP	+35.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 11 ended

Active mandates

More A.I.

Director · since 21 février 2020 · 0699.633.581

Represented by Vandenbroek VANESSA

Active

Ended mandates

Qualia

Director · since 21 février 2020 · 0742.514.313

Represented by Francis TOM

Ended

Ellen Cafmeyer

Mandate

Ended

ELLEN CAFMEYER

Director

Ended

ELLEN CAFMEYER

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	29/06/2026	19/06/2025	12/06/2024	30/05/2023	28/06/2022	26/07/2021
General meeting	05/06/2026	15/06/2025	15/05/2024	05/05/2023	24/06/2022	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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	05/06/2026	29/06/2026	Dutch	PDF
Abridged model	31/12/2024	15/06/2025	19/06/2025	Dutch	PDF
Abridged model	31/12/2023	15/05/2024	12/06/2024	Dutch	PDF
Abridged model	31/12/2022	05/05/2023	30/05/2023	Dutch	PDF
Abridged model	31/12/2021	24/06/2022	28/06/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	26/07/2021	Dutch	PDF
Abridged model	31/12/2019	10/02/2020	10/02/2020	Dutch	PDF
Abridged model	31/12/2018	15/05/2019	31/07/2019	Dutch	PDF
Abridged model	31/12/2017	15/05/2018	28/06/2018	Dutch	PDF
Abridged model	31/12/2016	15/05/2017	07/06/2017	Dutch	PDF
Abridged model	31/12/2015	15/05/2016	28/06/2016	Dutch	PDF
Abridged model	31/12/2014	15/05/2015	04/06/2015	Dutch	PDF
Abridged model	31/12/2013	15/05/2014	26/06/2014	Dutch	PDF
Abridged model	31/12/2012	15/05/2013	19/06/2013	Dutch	PDF
Abridged model	31/12/2011	15/05/2012	21/06/2012	Dutch	PDF
Abridged model	31/12/2010	16/05/2011	20/06/2011	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 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 · 1 active · 11 ended

Active mandates

More A.I.

Director · since 21 février 2020 · 0699.633.581

Represented by Vandenbroek VANESSA

Active

Ended mandates

Qualia

Director · since 21 février 2020 · 0742.514.313

Represented by Francis TOM

Ended

Ellen Cafmeyer

Mandate

Ended

ELLEN CAFMEYER

Director

Ended

ELLEN CAFMEYER

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office22/01/2026
MAATSCHAPPELIJKE ZETEL
PDF
Mandates26/02/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office18/03/2010
MAATSCHAPPELIJKE ZETEL
PDF
Mandates03/09/2009
ONTSLAGEN - BENOEMINGEN
PDF
Other08/07/2009
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202533,7 k €↑
2024
Annual accounts 20242,8 k €↓
2023
Annual accounts 202385,1 k €↓
2022
Annual accounts 2022132,2 k €↑
2021
Annual accounts 2021-73,4 k €↓
2020
Annual accounts 202065,9 k €↓
2014
Annual accounts 201479,6 k €↓
2013
Annual accounts 2013112 k €↑
2012
Annual accounts 201268,1 k €↑
2011
Annual accounts 201137,4 k €↑
2010
Annual accounts 201032,1 k €
24/06/2009
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

UPGRADED

Overview

What does UPGRADED do?

Trend over 11 financial years

Indicative valuation

Board of directors

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