HAY PROGRESS
HAY PROGRESS has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €55k and a net result of €7k. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 12499 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
| Equity | €55k |
| Net result | €7k |
| Better than sector | 95% |
| Active | 10 yrs |
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 94.1% | 30.5% | |
| Net result | €7k | €5k | |
| Equity | €55k | €30k | |
| Gross operating margin | €36k | €62k | |
| Staff costs | €23k | €56k |
Figures by fiscal year and ratios
| Fiscal year | 2025 Δ | 2024 Δ | 2023 Δ | 2022 Δ | 2021 Δ |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | +41.9% | +4.9% | -5.4% | -26.2% | - |
| Net profit | +118.1% | +4.1% | -36.2% | -49.0% | - |
| Cash flow | +73.4% | +2.5% | -19.8% | -40.8% | - |
| Staff costs | -73.8% | +26.2% | +55.5% | +772.5% | - |
| Income taxes | +48.4% | -43.4% | +58.4% | - | - |
| Dividends | - | - | - | - | - |
| Total assets | -10.9% | +12.1% | -7.5% | -29.9% | - |
| Equity | +16.0% | +7.7% | +8.0% | +14.4% | - |
| Debt | -81.0% | +25.3% | -35.6% | -58.7% | - |
| of which ≤ 1y | -81.0% | +25.3% | -35.6% | -58.7% | - |
| of which > 1y | - | - | - | - | - |
| Working capital | +22.0% | +14.2% | +7.5% | +22.9% | - |
| Employees (FTE) | - | - | - | - | - |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 16.49 | 3.41 | 3.65 | 2.59 | 1.53 |
| Quick ratio | 16.49 | 3.41 | 3.65 | 2.59 | 1.53 |
| Working capital ratio | 91.7% | 66.9% | 65.7% | 56.5% | 32.2% |
| Solvency | 94.1% | 72.3% | 75.2% | 64.3% | 39.4% |
| Debt / equity | 0.06 | 0.38 | 0.33 | 0.55 | 1.54 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 35.64 | 5.52 | 39.08 | 37.03 | 74.91 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 12.7% | 5.2% | 5.6% | 8.1% | 11.1% |
| ROE | 13.5% | 7.2% | 7.4% | 12.6% | 28.2% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (21 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €59k | €66k | €59k | €64k | €91k |
| Fixed assets | 21/28 | €1k | €4k | €6k | €5k | €7k |
| Tangible fixed assets | 22/27 | €1k | €4k | €6k | €5k | €7k |
| Current assets | 29/58 | €57k | €63k | €53k | €59k | €84k |
| Amounts receivable within one year | 40/41 | €51k | €59k | €52k | €57k | €83k |
| Cash & bank | 54/58 | €6k | €3k | €2k | €2k | €2k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €59k | €66k | €59k | €64k | €91k |
| Equity | 10/15 | €55k | €48k | €44k | €41k | €36k |
| Contributions / capital | 10/11 | €19k | €18k | €18k | €18k | €18k |
| Reserves | 13 | €1k | €1k | €1k | €1k | €1k |
| Accumulated profits (losses) | 14 | €36k | €28k | €25k | €22k | €16k |
| Amounts payable | 17/49 | €3k | €18k | €15k | €23k | €55k |
| Amounts payable within one year | 42/48 | €3k | €18k | €15k | €23k | €55k |
| Trade debts payable within one year | 44 | - | €860 | €7k | €17k | €52k |
| Income statement | ||||||
| Gross operating margin | 9900 | €36k | €99k | €79k | €57k | €17k |
| Operating result | 9901 | €10k | €6k | €6k | €7k | €10k |
| Financial charges | 65 | €335 | €2k | €205 | €229 | €153 |
| Result before taxes | 9903 | €10k | €5k | €6k | €7k | €10k |
| Income taxes | 67/77 | €2k | €1k | €2k | €2k | - |
| Net result for the period | 9904 | €7k | €3k | €3k | €5k | €10k |
| Result to be appropriated | 9905 | €7k | €3k | €3k | €5k | €10k |
-
Current01-04-2023 → present
2 events
- 01-04-2023 Appointed· Director
- 22-07-2019 Resigned· Managing director
Former directors (1)
-
Former22-07-2019 → 01-04-2023
2 events
- 01-04-2023 Resigned· Director
- 22-07-2019 Appointed· Managing director
| NACE primary | Cafés and bars(56301) |
| Legal form | Private limited company(610) |
| Incorporation | 05-01-2016 |
| Status | Active |
| Postal code | 1700 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23016E0256/00F000 | Flanders | 1,212 m² | 1 · 156 m² | 8.3 m · 1 fl. |
| 21015A0181/00S003 | Brussels | 84 m² | 1 · 66 m² | 15.3 m · 5 fl. |
We know of 13 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
07-01-2026 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 10,
"currency": null,
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2025-12-31",
"evidence_quote": "de overdracht van aandelen van de Mevr.Lazarenko Nadejda (10 aandelen) aan de mevrouwen: 10 aandelen van Hambartsumyan Armen",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "BV"
}
}10-10-2025 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 5,
"currency": "BEF",
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2025-10-01",
"evidence_quote": "de overdracht van aandelen van de Mevr. Copcea Anca Anuta (5 aandelen) aan de mevrouwen: - 5 aandelen van Hambartsumyanyan Armen",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "BV"
}
}23-07-2025 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 5,
"currency": "BEF",
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2025-07-15",
"evidence_quote": "de overdracht van aandelen van de Mevr. Fieraru Olga Romana (5 aandelen) aan de mevrouwen: - 5 aandelen van Hambartsumyanyan Armen;",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "BV"
}
}28-04-2025 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 10,
"currency": "BEF",
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2025-03-25",
"evidence_quote": "de overdracht van aandelen van de heer Hambartsumyan Armen (10 aandelen) aan de mevrouwen: - 5 aandelen van Copcea Anca-Anuta; -5 aandelen van Fieraru Olga Romana.",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "BV"
}
}29-04-2024 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 10,
"currency": null,
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2024-04-11",
"evidence_quote": "De heer Hambartsumyan Armen draagt zijn aandelen (10 aandelen) over aan mevrouw Lazarenco Nadejda vanaf 11/04/2024, wie accepteert.",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "BV"
}
}12-04-2024 Change in the board of directors
Technical details
{
"events": [],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "BVBA"
}
}20-07-2023 1 director appointed, 1 resigning
- Hambartsumyan Armen, Bestuurder
- Martirosjan Mery, Bestuurder
Technical details
{
"events": [
{
"kind": "director_out",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Martirosjan Mery",
"address": null,
"birth_date": null
},
"effective_date": "2023-04-01",
"evidence_quote": "De buitengewone algemene vergadering van 01/04/2023 aanvaardt bij \u00E9\u00E9nparigheid van stemmen het onslag van de Mevrouw Martirosjan Mery als bestuurder vanaf 01/04/2023. Er Wordt hem kwijting verleend voor de uitoefening van zijn mandaat.",
"discharge_granted": true
},
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Hambartsumyan Armen",
"address": null,
"birth_date": null
},
"effective_date": "2023-04-01",
"evidence_quote": "De buitengewonde algemene vergadering van 1/04/2023 beslist om Heer Hambartsumyan Armen als bestuurder te benoemen vanaf 01/04/2023."
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "BVBA"
}
}04-01-2023 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": null,
"currency": null,
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2022-09-30",
"evidence_quote": "Moroiu Mariana Otilia (5 aandelen) en Hambartsumyan Mkrtich (10 aandelen) dragen hun sociale aandelen over aan Mevrouw Martirosjan Mery die accepteert.",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "BVBA"
}
}26-04-2022 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 5,
"currency": "BEF",
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2022-04-01",
"evidence_quote": "Martirosjan Mery (5 aandelen) draagt zijn sociale aandelen over aan de Mevrouw Moroiu Mariana-Otilina die accepteert.",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "SPRL"
}
}18-10-2019 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 15,
"currency": "BEF",
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2019-09-29",
"evidence_quote": "Mevrouw Moroiu Catalina (15 aandelen) draagt zijn sociale aandelen over aan de Mevrouw Martirosjan Mery die accepteert.",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "SPRL"
}
}12-08-2019 Transaction in capital or shares
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 60,
"currency": null,
"after_eur": null,
"delta_eur": null,
"before_eur": null,
"amount_type": "onbekend",
"effective_date": "2019-07-22",
"evidence_quote": "L\u0027AG accepte et acte le transfert de parts de Monsieur Hambartsumyan Armen(60parts) \u00E0 Madame Martirosjan Mery qui accepte",
"contribution_type": null
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "SPRL"
}
}25-04-2018 Capital increase of €0.37
Technical details
{
"events": [
{
"kind": "share_transfer",
"amount": 15,
"currency": "BEF",
"after_eur": null,
"delta_eur": 0.37,
"before_eur": null,
"amount_type": "kapitaal_effectief",
"effective_date": "2018-04-01",
"evidence_quote": "L\u0027AG accepte et acte le transfert de parts de Monsieur Hambartsumyan Armen(15parts) \u00E0 Madame Moroiu Catalina",
"contribution_type": "in_kind",
"delta_eur_converted_from": {
"amount": 15,
"currency": "BEF"
}
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "SPRL"
}
}07-01-2016 Incorporation of a new SNC
Technical details
{
"kind": "oprichting",
"seat": "Chauss\u00E9e de Helmet 247, 1030 Schaerbeek",
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"founders": [
{
"org": null,
"kind": "natural_person",
"person": {
"dob": "1989-03-20",
"name": "HAMBARTSUMYAN Armen",
"niss": null,
"address": "Ganshoren, Clos Willy Chambon 6 bo\u00EEte 3"
},
"share_class": "Ordinary",
"partner_role": null,
"holder_org_kbo": null,
"holder_org_name": null,
"contribution_type": "cash",
"amount_paid_in_eur": 5580.0,
"holder_person_name": "HAMBARTSUMYAN Armen",
"is_subscriber_only": false,
"n_shares_subscribed": 90,
"amount_subscribed_eur": 16740.0,
"is_anonymous_silent_partner": false
},
{
"org": null,
"kind": "natural_person",
"person": {
"dob": "1985-01-16",
"name": "HAMBARTSUMYAN Mkrtitch",
"niss": null,
"address": "Ganshoren, Clos Willy Chambon 6 bo\u00EEte 3"
},
"share_class": "Ordinary",
"partner_role": null,
"holder_org_kbo": null,
"holder_org_name": null,
"contribution_type": "cash",
"amount_paid_in_eur": 620.0,
"holder_person_name": "HAMBARTSUMYAN Mkrtitch",
"is_subscriber_only": false,
"n_shares_subscribed": 10,
"amount_subscribed_eur": 1860.0,
"is_anonymous_silent_partner": false
}
],
"capital_eur": 18600.0,
"subject_company": {
"kbo": "0645.589.339",
"name_full": "HAY PROGRESS",
"legal_form": "SNC"
},
"initial_directors": [],
"incorporation_date": "2016-01-04",
"post_incorporation_mandates": []
}| Legal nameNL | HAY PROGRESS |