ACTIVE

UPGRADE ESTATE

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Financial year 2026 · Closed on 31/03/2026

Net result193,8 k €+2 014,3 %over 1 year
Revenue26,5 M €+2,2 %over 1 year
Equity7 M €+2,8 %over 1 year
Workforce39,1 ETP+11,1 %over 1 year

Identity

Source · BCE/KBO

UPGRADE ESTATE is a Public limited company incorporated in 2011. Its main activity is: Construction of buildings. Its registered office is in Gent. It employs on average 39,1 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0840.066.124
Incorporation
29/09/2011
Legal form
Public limited company
Registered office
Amelia Earhartlaan 2 box 201
9051 Gent · FlandreSee on map
Contributed capital
194 100,00 €
Latest accounts
31/03/2026
Average workforce
39,1 ETP
Joint committees (3)
  • 200
  • 2000
  • 20000
Signals
ProfitableGood liquidityPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 14 filings

Trend over 12 financial years

20262025202420232022
Income statement
Revenue26,5 M €26 M €55,5 M €41,1 M €36,3 M €
EBITDA13,9 k €-403,5 k €-146,5 k €680,2 k €892,5 k €
Operating result380,7 k €111,7 k €452 k €770,7 k €647,9 k €
Net result193,8 k €9,2 k €273,8 k €493,9 k €390,9 k €
Balance sheet
Equity7 M €6,8 M €6,8 M €6,5 M €6 M €
Total assets27,6 M €25 M €26,5 M €35,2 M €26 M €
Cash218,1 k €336,9 k €149,3 k €71,2 k €147,9 k €
Debts19,6 M €16,6 M €17,4 M €25,6 M €16,5 M €
Other
Workforce39,1 ETP35,2 ETP39,6 ETP43,6 ETP39,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€
See the valuation

Board of directors

Source · NBB, accounts to 31/03/2026

2 active · 5 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
UPGRADE ESTATE GROUP0400.927.922Represented by Nele Van Damme
Managing director31/10/2023 → 10/09/2032
Koenraad Belsack
Managing director07/06/2018 → 10/09/2032

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
UPGRADE ESTATE GROUP0666.960.023Represented by Nele Van Damme
Managing director29/06/2020 → 2024 accounts
Nelstein0636.810.047Represented by Nele Van Damme
Managing director25/09/2017 → 2019 accounts

Other companies at this address

Amelia Earhartlaan 2 9051 Gent
CompanyCBE 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
202620252024202320222021
Type of accountFull modelFull modelFull modelFull modelFull modelAbridged model
Start of the financial year01/04/202501/04/202401/04/202301/04/202201/04/202101/07/2019
Closing of the financial year31/03/202631/03/202531/03/202431/03/202331/03/202231/03/2021
Length of the financial year12 months12 months12 months12 months12 months21 months
Filing date28/09/202608/10/202509/10/202411/09/202327/10/202214/10/2021
General meeting11/09/202612/09/202513/09/202408/09/202330/09/202210/09/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 14 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/03/202611/09/202628/09/2026DutchPDF
Full model31/03/202512/09/202508/10/2025DutchPDF
Full model31/03/202413/09/202409/10/2024DutchPDF
Full model31/03/202308/09/202311/09/2023DutchPDF
Full model31/03/202230/09/202227/10/2022DutchPDF
Abridged model31/03/202110/09/202114/10/2021DutchPDF
Abridged model30/06/201928/01/202031/01/2020DutchPDF
Abridged model30/06/201824/01/201931/01/2019DutchPDF
Abridged model30/06/201701/12/201730/01/2018DutchPDF
Abridged model30/06/201602/12/201628/02/2017DutchPDF
Abridged model30/06/201523/12/201528/01/2016DutchPDF
Abridged modelCorrection30/06/201419/12/201426/02/2015DutchPDF
Abridged model30/06/201419/12/201412/01/2015DutchPDF
Abridged model30/06/201320/12/201310/02/2014DutchPDF

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.

Board of directors

Source · NBB, accounts to 31/03/2026

2 active · 5 ended

Active mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
UPGRADE ESTATE GROUP0400.927.922Represented by Nele Van Damme
Managing director31/10/2023 → 10/09/2032
Koenraad Belsack
Managing director07/06/2018 → 10/09/2032

Ended mandates

DirectorMandates in this companyPeriodOther mandatescurrentendedstruck offbankruptcies
UPGRADE ESTATE GROUP0666.960.023Represented by Nele Van Damme
Managing director29/06/2020 → 2024 accounts
Nelstein0636.810.047Represented by Nele Van Damme
Managing director25/09/2017 → 2019 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates08/08/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office25/04/2024
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates27/02/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates25/07/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/07/2020
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - DIVERSEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING - BOEKJAAR
    PDF
  • Mandates19/07/2018
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates28/11/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Restructuring25/10/2016
    BENAMING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, 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
Filings12 filings
Mandates
UPGRADE ESTATE GROUP
Koenraad Belsack
UPGRADE ESTATE GROUP
Nelstein
421 Concepts
VD SOLUTIONS
Upgrade Estate Belgium
2011201220132014201520162017201820192020202120222023202420252026202720282029203020312032
UPGRADE ESTATE
Amelia Earhartlaan 2 bte 201, 9051 Sint-Denijs-WestremBurggravenlaan 31/001, 9000 Gent
Managing director
Managing director
Managing director
Managing director
Managing director
Managing director
Managing director
CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE
Registered addressPeriodSource
Amelia Earhartlaan 2 bte 201, 9051 Sint-Denijs-WestremCurrent
accounts 2025 → 2026
Accounts 2026 · 2026-00529939
Amelia Earhartlaan 2/201, 9051 Sint-Denijs-Westrem
accounts 2024
Accounts 2024 · 2024-00503101
Burggravenlaan 31/001, 9000 Gent
accounts 2022 → 2023
Accounts 2023 · 2023-00444328

Company names

Source · NBB annual accounts, CBE
NamePeriodSource
UPGRADE ESTATECurrent
accounts 2022 → 2026
Accounts 2026 · 2026-00529939

Events

  1. 2026
    Annual accounts 2026193,8 k €↑
  2. 2025
    Annual accounts 20259,2 k €↓
  3. 2024
    Annual accounts 2024273,8 k €↓
  4. 2023
    Annual accounts 2023493,9 k €↑
  5. 2022
    Annual accounts 2022390,9 k €↑
  6. 2019
    Annual accounts 2019137,5 k €↓
  7. 2018
    Annual accounts 2018239,3 k €↓
  8. 2017
    Annual accounts 2017277,2 k €↓
  9. 2016
    Annual accounts 20162,9 M €↑
  10. 2015
    Annual accounts 20152,7 M €↑
  11. 2014
    Annual accounts 201453,5 k €↓
  12. 2013
    Annual accounts 2013260,9 k €
  13. 29/09/2011
    IncorporationPublic limited company