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Finance as a lever for change

What if money isn’t an end in itself, but a way to bring people closer together? For Koenraad Belsack, founder and co-CEO of Upgrade Estate, entrepreneurship starts with that simple idea.

Koenraad Belsack is an entrepreneur through and through, driven by the belief that smart entrepreneurship can help tackle even the most complex challenges. For Koenraad, money is not a goal in itself, but a means to create wellbeing, connection and sustainability.

Upgrade Estate develops student housing and residential concepts that are not only financially viable, but also create social impact. “Our mission is to bring people together. For us, real estate is the setting that makes that possible. We want everyone who walks into our buildings to leave with a smile.”

To make that possible, a solid financial foundation is essential. “Real estate and energy infrastructure require significant capital,” he explains. “That’s why we’ve chosen a model that actively connects and engages investors. For each project, we set up a separate property company in which real estate investors become shareholders. This approach encourages them to look at their impact investment in a more holistic way, rather than focusing on a single entity. It doesn’t just spread risk, but also responsibility, and a sense of shared achievement. Today, we see others adopting this model as well. For me, that’s a clear sign that its social impact extends beyond our own organisation, and that makes me genuinely happy.”

Holding up a mirror to each other

“For every partner providing services worth more than €20,000, we carry out a Sustainability Due Diligence, using a KU Leuven template, developed in collaboration with The Shift. That also applies to banks.”

Koenraad stresses the importance of keeping each other alert. “We need to take action, share experiences and help one another move forward. That’s exactly what we do within The System Shift, The Shift’s community of practice for CEOs working on system change. Those moments of reflection, those meetings where we exchange ideas, we’re all figuring things out as we go. The only way to make progress is by sharing.”

One moment that particularly inspired him was a breakfast with economist Kate Raworth, organised by The Shift. “The idea of the doughnut economy really fascinates me. That’s why we’ve made our business model circular, with a buy-back system in place.”

A web of regulation and rising awareness

The transition doesn’t come without obstacles. “Regulatory overload is one of the bigger challenges,” Koenraad says. “Our society is heavily regulated, and sometimes that’s necessary, but it can also hold back innovation. There’s a real web of rules that makes many processes unnecessarily complex. We need to create room to develop new models, within frameworks that actually allow for that.”

Sustainable finance starts with insight and awareness. “Invest in knowledge,” Koenraad says. “Understand what sustainability really means and involve all your stakeholders. It needs to be a voluntary choice, supported by everyone and fully embedded in how you operate. There is still far too much lack of understanding, even at the top.

What advice would you give to other organisations looking to work on system change?

“Invest in a forest. The cycle is at least 80 to 100 years. When you walk through it, you can feel what the long term really means. And the long term doesn’t have to be boring.”

More impact stories

Banks: unexpected allies of nature?

How can the financial sector help strengthen biodiversity? In this interview, Ronny Jongen, Senior Impact Manager, explains Triodos Bank‘s role in the shift towards nature-positive investing — and the challenges this brings for banks and their clients.

Mediahuis: media with a mission

What does purpose really mean for a media group? Belgian CEO Koen Verwee shares how Mediahuis is building trust, independent journalism and long-term impact.

With The System Shift, you break away from business-as-usual and work alongside frontrunners, experts and policymakers on solutions to today’s most pressing economic challenges.

Learn more
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building blocks

Focus on networking

Strong networks make strong organisations. In this session of the community of practice The System Shift, you will explore how to develop sustainable partnerships and collaborations that boost resilience and lead to greater collective impact.

What to expect?

Participants in this session will:

    discover how networks create resilience and long-term value,

    get practical tools to strengthen partnerships and achieve collective impact, grounded in the internationally recognised Donut theory,

    share your experiences with peers regarding practical challenges and solutions.

Who is this for?

This session is part of the community of practice The System Shift. Participation is exclusively for those registered on the full course.

Are you an ambitious leader who wants to make systemic change through your organisation alongside colleagues from different sectors? Then this community of practice is for you.

Tell me more

In cooperation with

corporate regeneration logo
ecores logo

Ready for more?

Explore all events

Mediahuis: media with a mission

What does purpose really mean for a media group? Belgian CEO Koen Verwee shares how Mediahuis is building trust, independent journalism and long-term impact.

Forward-looking governance: a systems view

How do you anchor sustainability at the core of your organisation? We look at new, systems-based models that align with your mission and provide a broad perspective inside and outside your organisation.

 

 

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What to expect?

This session sheds light on possible governance structures and who within organisations makes the decisions. Who has a voice, and who is represented in these decisions?

    Actionable insights, concrete goals and, practical advice. We stay alert, ask the right questions and lay a clear path for change.

    The right people at the table. With peers from other sectors and experts, you can see and do more. We create a safe environment where experiences about systemic change are easily shared.

    Based on the internationally recognised Donut Theory. This framework ensures that you stay ahead and become a cohesive link in the larger ecosystem.

For whom?

This session is part of “The System Shift,” a community of practice for leaders in sustainable economic transformation, and is open only to participants in the full learning program.

Curious about more?

Tell me more

In cooperation with

corporate regeneration logo

Ready for more?

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Design your Business for Purpose

Work alongside other CEOs and experts to explore the mission, structure and governance of your organisation, guided by the Doughnut Design for Business model. You become part of a community of like-minded leaders who, just like you, are committed to building a future-proof business model and creating meaningful change.

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Developing your Inner Skills

Sustainability challenges are not just technical or systemic – they are deeply human. To lead with meaning in a complex world, we need inner growth. With this community of practice, you’ll gain the tools, techniques and network to strengthen your inner power to make a difference.

Mediahuis: media with a mission

What does purpose really mean for a media group? Belgian CEO Koen Verwee shares how Mediahuis is building trust, independent journalism and long-term impact.

The System Shift

Many organisations are seeking guidance to better align their mission, structure and governance with societal and environmental challenges. In this community of practice, fellow entrepreneurs and experts work together on economist Kate Raworth’s Donut Design for Business model to build future-proof business models that respect people and nature.

Why get involved?

‘Design your business for purpose’ was developed to give Belgian CEOs the insights, skills and resources to put sustainable business models into practice.

    A confidential framework for innovation

    Start from thorough analysis and use a safe, supportive environment to experiment and learn directly from peers how to create value for all your stakeholders.

    Built for the long-term

    Build a resilient organisation with a long-term vision, able to foresee and overcome tomorrow’s crises.

    Inspired by the Donut Economy

    Move within an international frame of reference like the Donut Economy that helps you stay ahead and play a key role in a rapidly evolving ecosystem.

What participants say

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Striking a balance between short-term returns and long-term value for society is a fundamental challenge for many companies. That is why ownership is so important. Without the right structure, there is a risk of falling back on traditional ways of working.

Barbara Goffin
Coordinator
BeDonut

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We feel that our mission has become even more important in the current political context. Democracy, the rule of law and human rights are under pressure worldwide. That makes our work in journalism all the more urgent.

Koen Verwee
CEO
Mediahuis België

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Ownership should not be reduced to a financial mechanism. It is not about who owns the shares or has voting rights. What matters are the intentions behind those structures and the long-term vision they enable.

Peter Depauw
Co-founder
Steward-Owned

Programme
11.03.2025 'Mission' - with Barbara Goffin (Be Donut) This session explores the fundamental purpose of an organisation, its raison d'être. We look at how a mission is embedded in a company's culture, values, operations, products and services.
25.03.2025 'Owned' - with Peter Depauw (Steward Owned) This session explores ownership structures and the stakeholders involved. We discuss the role and expectations of owners and look at approaches which balance profit and positive impact.
17.06.2025 'Finance' - with Thomas Van Craen (Triodos) Here we explore the financial priorities of organisations: what profit margins are needed? How are profits allocated? We also look at returns on investments - financial, social or environmental.
16.09.2025 'Governance' - with Vincent Truyens (Corporate Regeneration) This session analyses governance structures and decision-making power within organisations: who has a say and is represented in these decisions? We discuss inclusive governance models that align with the mission.
18.11.2025 'Networking' - with Vanessa de Marneffe (Ecores) We look at an organisation's networks, from value chains and sales channels to ecosystems of employees, customers and partners. Discover how to increase collective impact through sustainable collaborations.

Impact Stories

At The Shift , we unite changemakers who create sustainable impact. Discover how our members are turning ambition into action with inspiring collaborations and innovations.

Bekijk alle impactverhalen

Mediahuis: media with a mission

What does purpose really mean for a media group? Belgian CEO Koen Verwee shares how Mediahuis is building trust, independent journalism and long-term impact.

They’ve already participated

ageas logo
coeur catering logo
funds for good logo
joker logo
mediahuis logo
rikolto logo
upgrade estate logo
Hire and Higher logo

Who is this for?

This community of practice is designed for CEOs with the ambition to help shape tomorrow’s economy by innovating their own business models.

Our prices

€ 1.800
Excluding VAT

For non-members of The Shift

€ 1.500
Excluding VAT

For members of The Shift

Our partners

corporate regeneration logo
ecores logo

Interested?

This cycle has already started and registration is closed. But not to worry! A new edition will start in 2026. Let us know if you’re interested below.

 

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