HAY PROGRESS

Active

Private limited companyfounded 2016active for 10 yearsBegijnenborrestraat 22, 1700 Dilbeek, BelgiumKBO/BCE: BE 0645.589.339

Summary

HAY PROGRESS has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €55,365 and a net result of €7,469. Equity has been growing by about 15% per year since 2018. Its solvency ranks better than 95% of 17,001 sector peers (NACE 56, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Risk analysisFollow Report Compare

HAY PROGRESSActiveChecked score 70/100

Risk analysis Report Compare

Overview

Official details

Source: KBO

Status: Active since 05-01-2016 Normal situation
Activity: Cafés and bars NACE 56301and 1 other
Establishment unit: 2.248.861.163 1030 Schaarbeek, since 05-01-2016
Financial year end: 31 December
Peppol: Reachable since 24-01-2026

Company details

Board and ownership

Board

GEVORKIAN ArmenDirector · since 09-04-2024
HAMBARTSUMYAN ArmenDirector

Board & ownership

Financial position

70 Healthy Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.8%

Annual accounts 2025

Gross margin: €35,850; ▼ 63.8%
Turnover: ≈ €150,000; estimated
Profit: €7,469; ▲ 118%
Equity: €55,365; ▲ 16.0%
Total assets: €58,848; ▼ 10.9%
Staff: ≈ 0.9 FTE; estimated

2025 accounts filed 25 days after the deadline

Financials

Score breakdownraises riskSize: total assets €58,848Sector: Food and beverage service activities (NACE 56)lowers riskEquity €55,365 (94.1% of total assets)Figures for financial year 2025 (filed on 25-08-2026)Show the evidence

Checked score

Score 2025

70 / 100

Healthy

Probability in this band: 0.55% to 1.5%

Financially stronger than 74% of micro companies in food and beverage service (NACE 56)

Every signal that counts is listed under Signals.

Financial strength · tick: 2024

Strong

Solvency 100+3

equity 94.1% of total assets

Liquidity 64+20

short-term debt 5.9% · cash 10.8%

Profitability 85+14

return on assets 12.7%

Bankruptcy probability within 12 months

0.8% Low

0%0.5%1.5%4%10%≥ 25%

About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.8% (23,779 companies, NACE 56, micro)

Last 24 months 12-2024: 1.4% 01-2025: 1.4%● unchanged vs 12-2024 02-2025: 1.4%● unchanged vs 01-2025 03-2025: 1.4%● unchanged vs 02-2025 04-2025: 1.5%▲ +0.1 percentage points vs 03-2025 05-2025: 1.5%● unchanged vs 04-2025 06-2025: 1.4%▼ -0.1 percentage points vs 05-2025 07-2025: 1.6%▲ +0.2 percentage points vs 06-2025 08-2025: 2.0%▲ +0.4 percentage points vs 07-2025highest value 09-2025: 1.2%▼ -0.8 percentage points vs 08-2025 10-2025: 1.2%● unchanged vs 09-2025 11-2025: 1.2%● unchanged vs 10-2025 12-2025: 1.2%● unchanged vs 11-2025 01-2026: 1.2%● unchanged vs 12-2025 02-2026: 1.2%● unchanged vs 01-2026 03-2026: 1.2%● unchanged vs 02-2026 04-2026: 1.3%▲ +0.1 percentage points vs 03-2026 05-2026: 1.3%● unchanged vs 04-2026 06-2026: 1.3%● unchanged vs 05-2026 07-2026: 1.1%▼ -0.2 percentage points vs 06-2026 08-2026: 1.6%▲ +0.5 percentage points vs 07-2026 09-2026: 0.8%▼ -0.8 percentage points vs 08-2026lowest value 10-2026: 0.8%● unchanged vs 09-2026 11-2026: 0.8%● unchanged vs 10-2026

Credit of up to €3,500 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 16.49 (3.41 in 2024), above the usual 1.5. Short-term debt is 5.9% and cash 10.8% of total assets. 5.9% of the assets are financed with debt and provisions.

Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 56, micro). It does better than 94% of them on solvency, 68% on liquidity, 72% on profitability and 62% on growth.

The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.

lowers riskraises risk

Size: total assets €58,848

Companies of this size fail more often. How much that weighs depends on the rest of the company's profile.

NBB · annual accounts

Sector: Food and beverage service activities (NACE 56)

KBO

Equity €55,365 (94.1% of total assets)

NBB · annual accounts

Figures for financial year 2025 (filed on 25-08-2026)

NBB · annual accounts

2025 accounts filed 25 days late

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.

NBB · 10 filings

Deviation from the deadline

2025

25 days late

2024

28 days late

2023

29 days late

2022

29 days late

2021

9 days early

2020

9 days late

2019

19 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 19 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 August (4 of the last 5 accounts filed within 30 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

03-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Financials

Financials · financial year 2025, micro format

2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00422299.

Annual accounts 2025 filed on 25-08-2026 at the NBB all 10 filings

Turnover

≈ €150,000

Estimated: probably between €97,000 and €200,000

Total assets

€58,848▼ 10.9%

2024 · €66,042

Net result

€7,469▲ 118%

2024 · €3,425

Working capital

€53,950▲ 22.0%

2024 · €44,214

Multi-year overview

2018 to 2025, 8 financial years

Operating result

€9,855

▲ 55.7% 2025

20182025

Net result

€7,469

▲ 118% 2025

middle half of the sector

20182025

Equity

€55,365

▲ 16.0% 2025

middle half of the sector

20182025

Total assets

€58,848

▼ 10.9% 2025

middle half of the sector

20182025

Debt

€3,483

▼ 81.0% 2025

20182025

Working capital

€53,950

▲ 22.0% 2025

highest quarter of the sector

20182025

Solvency

94.1%

▲ 21.8pp 2025

highest quarter of the sector

20182025

Current ratio

16.49

▲ 13.08 2025

highest quarter of the sector

20182025

Return on assets (ROA)

12.7%

▲ 7.5pp 2025

middle half of the sector

20182025

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line20182019202020212022202320242025

Operating result€10,372-€5,968▼ 42.5%€6,795▲ 13.9%€10,276▲ 51.2%€6,930▼ 32.6%€5,937▼ 14.3%€6,331▲ 6.6%€9,855▲ 55.7%

Net result€6,964-€6,664▼ 4.3%€6,692▲ 0.4%€10,123▲ 51.3%€5,160▼ 49.0%€3,291▼ 36.2%€3,425▲ 4.1%€7,469▲ 118%

Equity€15,359-€19,024▲ 23.9%€25,715▲ 35.2%€35,838▲ 39.4%€40,999▲ 14.4%€44,290▲ 8.0%€47,716▲ 7.7%€55,365▲ 16.0%

Total assets€40,188-€42,937▲ 6.8%€37,596▼ 12.4%€90,857▲ 142%€63,714▼ 29.9%€58,918▼ 7.5%€66,042▲ 12.1%€58,848▼ 10.9%

Debt€24,829-€23,913▼ 3.7%€11,880▼ 50.3%€55,019▲ 363%€22,715▼ 58.7%€14,628▼ 35.6%€18,327▲ 25.3%€3,483▼ 81.0%

Working capital€15,359-€19,024▲ 23.9%€25,715▲ 35.2%€29,299▲ 13.9%€36,009▲ 22.9%€38,702▲ 7.5%€44,214▲ 14.2%€53,950▲ 22.0%

Solvency38.2%-44.3%▲ 6.1pp68.4%▲ 24.1pp39.4%▼ 29.0pp64.3%▲ 24.9pp75.2%▲ 10.8pp72.3%▼ 2.9pp94.1%▲ 21.8pp

Current ratio1.62-1.80▲ 0.183.16▲ 1.371.53▼ 1.632.59▲ 1.053.65▲ 1.063.41▼ 0.2316.49▲ 13.08

Return on assets (ROA)17.3%-15.5%▼ 1.8pp17.8%▲ 2.3pp11.1%▼ 6.7pp8.1%▼ 3.0pp5.6%▼ 2.5pp5.2%▼ 0.4pp12.7%▲ 7.5pp

above within below The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.

The operating result for 2025 is 56% higher than in 2024. It is the second rise in a row, after the fall in 2023.

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €58,848

97.6%

Fixed assets €1,415 ▼ 59.6%

Current assets €57,433 ▼ 8.2%

Equity and liabilities €58,848

94.1%

Equity €55,365 ▲ 16.0%

Debt €3,483 ▼ 81.0%

Debt's share of the balance-sheet total falls from 27.7% to 5.9%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€11,942▲

2024 · €8,418

Cash flow

€9,556▲

2024 · €5,512

Debt to equity

0.06▼

2024 · 0.38

ROE

13.5%▲

2024 · 7.2%

Interest coverage

35.64▲

2024 · 5.52

Debt ≤ 1 year

€3,483▼

2024 · €18,327

Income taxes

€2,051▲

2024 · €1,382

Staff costs

€22,626▼

2024 · €86,320

Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired

Item	2021	2022	2023	2024	2025
Tangible fixed assets	€7,749	-	€2,686	-	-
Depreciation and write-downs of the year	€1,210	€1,550	€2,087	€2,087	€2,087

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2025 against 2024 · 38 lines

Balance sheet Code20242025

Assets

Total assets20/58€66,042€58,848▼

Fixed assets21/28€3,502€1,415▼

Tangible fixed assets22/27€3,502€1,415▼

Land and buildings22€1,612€1,074▼

Furniture and vehicles24€1,890€340▼

Current assets29/58€62,540€57,433▼

Amounts receivable within one year40/41€59,414€50,922▼

Trade receivables40€58-

Other amounts receivable41€59,356€50,922▼

Cash at bank and in hand54/58€2,689€6,378▲

Deferred charges and accrued income490/1€438€133▼

Equity and liabilities

Total equity and liabilities10/49€66,042€58,848▼

Equity10/15€47,716€55,365▲

Contributions10/11€18,420€18,600▲

Reserves13€1,050€1,050=

Non-distributable reserves130/1€1,050€1,050=

Reserves not available under the articles1311€1,050€1,050=

Profit (loss) carried forward14€28,246€35,715▲

Amounts payable17/49€18,327€3,483▼

Amounts payable within one year42/48€18,327€3,483▼

Trade debts44€860-

Suppliers440/4€860-

Taxes, remuneration and social security45€17,467€3,483▼

Taxes450/3€5,409€3,483▼

Remuneration and social security454/9€12,058-

Income statement Code20242025

Remuneration, social security and pensions62€86,320€22,626▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,087€2,087=

Other operating charges640/8€4,219€1,281▼

Gross operating margin9900€98,956€35,850▼

Operating profit (loss)9901€6,331€9,855▲

Financial charges65/66B€1,524€335▼

Recurring financial charges65€1,524€335▼

Profit (loss) for the period before taxes9903€4,807€9,520▲

Income taxes67/77€1,382€2,051▲

Profit (loss) for the period9904€3,425€7,469▲

Profit (loss) for the period to be appropriated9905€3,425€7,469▲

Appropriation of the result

Profit (loss) to be appropriated9906€28,246€35,715▲

Profit (loss) brought forward from the previous period14P€24,820€28,246▲

The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 25-08-2026.

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Remuneration, social security and pensions62	-	-	-	€5,042	€43,991	€68,403	€86,320	€22,626	▼ 73.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	-	-	-	€1,210	€1,550	€2,087	€2,087	€2,087	=
Other operating charges640/8	-	-	-	€521	€4,161	€2,705	€4,219	€1,281	▼ 69.6%
Gross operating margin9900	€11,211	€6,867	€8,631	€17,048	€56,632	€79,132	€98,956	€35,850	▼ 63.8%
Operating profit (loss)9901	€10,372	€5,968	€6,795	€10,276	€6,930	€5,937	€6,331	€9,855	▲ 55.7%
Financial charges65/66B	-	-	-	€153	€229	€205	€1,524	€335	▼ 78.0%
Recurring financial charges65	€8	€3	€166	€153	€229	€205	€1,524	€335	▼ 78.0%
Profit (loss) for the period before taxes9903	€10,364	€5,965	€6,629	€10,123	€6,701	€5,731	€4,807	€9,520	▲ 98.0%
Income taxes67/77	€3,400	-€700	-€62	-	€1,541	€2,440	€1,382	€2,051	▲ 48.4%
Profit (loss) for the period9904	€6,964	€6,664	€6,692	€10,123	€5,160	€3,291	€3,425	€7,469	▲ 118%
Profit (loss) for the period to be appropriated9905	€6,964	€6,664	€6,692	€10,123	€5,160	€3,291	€3,425	€7,469	▲ 118%

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€40,188	€42,937	€37,596	€90,857	€63,714	€58,918	€66,042	€58,848	▼ 10.9%
Fixed assets21/28	-	-	-	€6,540	€4,990	€5,589	€3,502	€1,415	▼ 59.6%
Tangible fixed assets22/27	-	-	-	€6,540	€4,990	€5,589	€3,502	€1,415	▼ 59.6%
Land and buildings22	-	-	-	-	-	€2,149	€1,612	€1,074	▼ 33.3%
Furniture and vehicles24	-	-	-	€6,540	€4,990	€3,440	€1,890	€340	▼ 82.0%
Current assets29/58	€40,188	€42,937	€37,596	€84,317	€58,724	€53,329	€62,540	€57,433	▼ 8.2%
Amounts receivable within one year40/41	€34,027	€34,862	€35,749	€82,687	€57,057	€51,738	€59,414	€50,922	▼ 14.3%
Trade receivables40	-	-	-	€773	€583	€705	€58	-	-
Other amounts receivable41	-	-	-	€81,915	€56,474	€51,033	€59,356	€50,922	▼ 14.2%
Cash at bank and in hand54/58	€6,161	€8,075	€1,847	€1,630	€1,667	€1,592	€2,689	€6,378	▲ 137%
Deferred charges and accrued income490/1	-	-	-	-	-	-	€438	€133	▼ 69.5%
Equity and liabilities
Total equity and liabilities10/49	€40,188	€42,937	€37,596	€90,857	€63,714	€58,918	€66,042	€58,848	▼ 10.9%
Equity10/15	€15,359	€19,024	€25,715	€35,838	€40,999	€44,290	€47,716	€55,365	▲ 16.0%
Contributions10/11	€18,420	€18,420	€18,420	€18,420	€18,420	€18,420	€18,420	€18,600	▲ 1.0%
Capital10	-	-	-	€18,420	-	-	-	-	-
Issued capital100	-	-	-	€18,600	-	-	-	-	-
Uncalled capital101	-	-	-	€180	-	-	-	-	-
Reserves13	-	€200	€550	€1,050	€1,050	€1,050	€1,050	€1,050	=
Non-distributable reserves130/1	-	-	-	€1,050	€1,050	€1,050	€1,050	€1,050	=
Legal reserve130	-	-	-	€1,050	-	-	-	-	-
Reserves not available under the articles1311	-	-	-	-	€1,050	€1,050	€1,050	€1,050	=
Profit (loss) carried forward14	-€3,061	€404	€6,745	€16,368	€21,529	€24,820	€28,246	€35,715	▲ 26.4%
Amounts payable17/49	€24,829	€23,913	€11,880	€55,019	€22,715	€14,628	€18,327	€3,483	▼ 81.0%
Amounts payable within one year42/48	€24,829	€23,913	€11,880	€55,019	€22,715	€14,628	€18,327	€3,483	▼ 81.0%
Trade debts44	€20,644	€15,948	€8,832	€52,075	€17,267	€6,940	€860	-	-
Suppliers440/4	-	-	-	€52,075	€17,267	€6,940	€860	-	-
Taxes, remuneration and social security45	-	-	-	€2,943	€5,448	€7,687	€17,467	€3,483	▼ 80.1%
Taxes450/3	-	-	-	€1,821	€317	€7,687	€5,409	€3,483	▼ 35.6%
Remuneration and social security454/9	-	-	-	€1,123	€5,131	-	€12,058	-	-

Line	2018	2019	2020	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€6,964	€6,664	€6,692	€10,123	€5,160	€3,291	€3,425	€7,469	▲ 118%
+ Depreciation and write-downs630	-	-	-	€1,210	€1,550	€2,087	€2,087	€2,087	=
Operating cash flow (approximation)	€6,964	€6,664	€6,692	€11,332	€6,710	€5,379	€5,512	€9,556	▲ 73.4%
Investment in fixed assets (approximation)	-	-	-	-	€0	-€2,686	€0	€0	-
Change in cash	-	€1,914	-€6,229	-€217	€37	-€75	€1,097	€3,689	▲ 236%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Historical observation

In July 2024, 34,693 companies had the same profile as HAY PROGRESS has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.

Micro
10 to 20 years old
solvency 30% or more
a profit of 5% of the balance sheet or more

95.3% was still going

3.9% stopped otherwise

0.7% went bankrupt

That fits the bankruptcy probability of HAY PROGRESS itself: 0.8% within 12 months.

Test of the method

The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group	Expected	Actual
1	0.2%	0.2%
2	0.3%	0.5%
3	0.5%	0.6%
4	0.7%	0.8%
5	0.9%	0.9%
6	1.3%	1.5%
7	1.6%	1.8%
8	1.8%	1.8%
9	3.0%	3.1%
10	5.6%	6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 34,693 companies, not a prediction for HAY PROGRESS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Filings with the National Bank (10)

Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	25-08-2026	2026-00422299	PDF
31-12-2024	micro format	28-08-2025	2025-00417352	PDF
31-12-2023	micro format	29-08-2024	2024-00393292	PDF
31-12-2022	micro format	29-08-2023	2023-00370771	PDF
31-12-2021	micro format	22-07-2022	2022-20215341	PDF
31-12-2020	micro format	09-08-2021	2021-47000334	PDF
31-12-2019	micro format	19-08-2020	2020-42600356	PDF
31-12-2018	micro format	10-08-2019	2019-45500209	PDF
31-12-2017	full format	30-07-2018	2018-39900172	PDF
31-12-2016	full format	03-08-2017	2017-41000469	PDF

Board & ownership

Directors

2 directors, last change in 2024

GEVORKIAN Armen

Director · since 09-04-2024 · term without a fixed end · listed in the 2025 annual accounts, filed on 25-08-2026

Current

HAMBARTSUMYAN Armen

Director · current term since 01-07-2025 · term without a fixed end · also on the board of 1 other company · listed in the 2025 annual accounts, filed on 25-08-2026

Current

Office holders in the KBO →

Signing authority

“TITEL IV : Bestuur - Controle Artikel 10. Bestuursorgaan De vennootschap wordt bestuurd door één of meer bestuurders, natuurlijke personen…”

deed of 12-04-2024

Owners and capital

Shareholders

Stated in the act act of 07-01-2026 ↗

Hambartsumyan Armen vennoot-bestuurder · 85 shares
Gevorkian Armen vennoot · 15 shares

Share transfer act of 07-01-2026 ↗

Lazarenko Nadejda to Hambartsumyan Armen 10 shares

Stated in the act act of 10-10-2025 ↗

Hambartsumyan Armen 75 shares
Lazarenko Nadejda vennoot · 10 shares
Gevorkian Armen vennoot · 15 shares

Share transfer act of 10-10-2025 ↗

Copcea Anca Anuta to Hambartsumyan Armen 5 shares

Stated in the act act of 23-07-2025 ↗

Hambartsumyan Armen 70 shares
Lazarenko Nadejda 10 shares
Gevorkian Armen 15 shares
Copcea Anca Anuta 5 shares

Stated in the act act of 28-04-2025 ↗

Hambartsumyan Armen 65 shares
Lazarenko Nadejda 10 shares
Copcea Anca-Anuta 5 shares
Gevorkian Armen 15 shares
Fieraru Olga Romana 5 shares

Show 8 older mentions

Share transfer act of 28-04-2025 ↗

Hambartsumyan Armen to Copcea Anca-Anuta 5 shares
Hambartsumyan Armen to Fieraru Olga Romana 5 shares

Stated in the act act of 29-04-2024 ↗

Hambartsumyan Armen Vennoot-bestuurder · 75 shares
Lazarenco Nadejda Vennoot · 10 shares
Gevorkian Armen Vennoot · 15 shares

Share transfer act of 29-04-2024 ↗

Hambartsumyan Armen to Lazarenco Nadejda 10 shares

Share transfer act of 20-07-2023 ↗

Martirosjan Mery to Hambartsumyan Armen

Stated in the act act of 04-01-2023 ↗

Martirosjan Mery vennoot,zaakvoerder · 85 shares
Gevorkian Armen vennoot · 15 shares

Share transfer act of 04-01-2023 ↗

Moroiu Mariana Otilia to Martirosjan Mery 5 shares
Hambartsumyan Mkrtich to Martirosjan Mery 10 shares

Stated in the act act of 26-04-2022 ↗

Martirosjan Mery vennoot · 55 shares
Moroiu Mariana-Otilina vennoot · 5 shares
Hambartsumyan Mkrtitch vennoot · 10 shares
Gevorkian Armen vennoot · 15 shares

Share transfer act of 26-04-2022 ↗

Martirosjan Mery to Moroiu Mariana-Otilina 5 shares

Capital transactions

Capital over time

Act of 07-01-2026Transfer of 10 sharesShareholding · Partner · Board composition

12-04-2024 Capital stated in the deed · 100 shares

Mandate history

3 people, 2 in office

All 3 In office 2 Ended 1

Board
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
HAMBARTSUMYAN Armen	Director, appointed in the act of 20-07-2023, still in office
GEVORKIAN Armen	Director, appointed in the act of 12-04-2024, still in office
Martirosjan Mery	Director, until 01-04-2023

See the board, name and registered office on a given date →

Articles of association

Transfer restriction: “Procedure- en expertisekosten voor helft ten laste overdrager en helft ten laste koper(s),naar evenredigheid aantal aandelen bij meer dan…”

Articles of association, deed of 12-04-2024 (in Dutch)

Network & group

Companies at the same address

2 other companies

Connections & network

1 connected company

Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet

Linked via shared directors

BATI PROGRESS

via HAMBARTSUMYAN Armen · Director (not named in the articles)

→

Timeline

Acts, filings and financial milestones

All 23Financial 3Gazette 10Filings 10

Deadline for the 2026 accounts: 31-07-2027

2026

25-08

NBB filing Annual accounts 2025 filedNBB

micro format · 25 days late

07-01

Gazette deed Transfer of 10 shares

Shareholding · Partner · Board composition8 points ▸

General meeting, 31-12-2025
Board meeting, 31-12-2025
Share transfer, Lazarenko Nadejda → Hambartsumyan Armen
Hambartsumyan Armen holds 85 shares
Gevorkian Armen holds 15 shares
Partner, Hambartsumyan Armen (vennoot bestuurder)
Partner, Gevorkian Armen
Board composition, Hambartsumyan Armen (vennoot bestuurder)

Open the act in the Belgian Official Gazette

2025

31-12

Financial Liquidity more than quadruplescurrent ratio 16.49

The current ratio rises from 3.41 to 16.49. Short-term debt falls from €18,327 to €3,483.

10-10

Gazette deed Transfer of 5 shares

Registered office clause · Legal form clause · Shareholding10 points ▸

Registered office clause, “Begijnenborrestraat 22,1700 Dilbeek” (deed in Dutch)
Legal form clause, “BV” (deed in Dutch)
General meeting, 01-10-2025
Share transfer, Copcea Anca Anuta → Hambartsumyan Armen
Hambartsumyan Armen holds 75 shares
Lazarenko Nadejda holds 10 shares
Gevorkian Armen holds 15 shares
Board composition, Hambartsumyan Armen (vennoot bestuurder)
Partner, Lazarenko Nadejda
Partner, Gevorkian Armen

Open the act in the Belgian Official Gazette

28-08

NBB filing Annual accounts 2024 filedPDF

micro format · 28 days late

23-07

Gazette deed Capital & shares

Share transfer · Shareholding7 points ▸

Board meeting, “maatschappelike zetel, Raad van beheer” (deed in Dutch)
Share transfer, Fieraru Olga Romana → Hambartsumyan Armen
Hambartsumyan Armen holds 70 shares
Lazarenko Nadejda holds 10 shares
Gevorkian Armen holds 15 shares
Copcea Anca Anuta holds 5 shares
General meeting, “buitengewone algemene vergadering, 01 juti 2025” (deed in Dutch)

Open the act in the Belgian Official Gazette

28-04

Gazette deed Capital & shares

Share transfer · Shareholding · Director in office12 points ▸

General meeting, 25-03-2025
Board meeting, 25-03-2025
Share transfer, Hambartsumyan Armen → Copcea Anca-Anuta
Share transfer, Hambartsumyan Armen → Fieraru Olga Romana
Hambartsumyan Armen holds 65 shares
Lazarenko Nadejda holds 10 shares
Copcea Anca-Anuta holds 5 shares
Gevorkian Armen holds 15 shares
Fieraru Olga Romana holds 5 shares
Director in office, Hambartsumyan Armen (vennoot bestuurder)
Other provision, “actieve vennoot”, 25-03-2025 (deed in Dutch), mentioned 2 times in the deed
Director in office, Fieraru Olga Romana (director)

Open the act in the Belgian Official Gazette

2024

29-08

NBB filing Annual accounts 2023 filedPDF

micro format · 29 days late

29-04

Gazette deed Transfer of 10 shares

Shareholding · Partner · Director in office9 points ▸

General meeting, 11-04-2024
Share transfer, Hambartsumyan Armen → Lazarenco Nadejda
Hambartsumyan Armen holds 75 shares
Lazarenco Nadejda holds 10 shares
Gevorkian Armen holds 15 shares
Partner, Hambartsumyan Armen (vennoot bestuurder)
Partner, Lazarenco Nadejda
Partner, Gevorkian Armen
Director in office, Hambartsumyan Armen (vennoot bestuurder)

Open the act in the Belgian Official Gazette

12-04

Gazette deed Appointments: HAMBARTSUMYAN Armen (director) and GEVORKIAN Armen (director)

Amendment of the articles · Capital conversion · Reserve release11 points ▸

General meeting, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
Amendment of the articles, mentioned 2 times in the deed
Capital conversion, “werkelijk gestort kapitaal en wettelijke reserve van rechtswege omgezet in statutair onbeschikbare eigen vermogensrekening, artikel 39 §2 tweede lid wet 2019-03…” (deed in Dutch)
Reserve release, “opheffing statutair onbeschikbare eigen vermogensrekening, middelen beschikbaar voor uitkering” (deed in Dutch)
Other provision, “ontslag en hernieuwing van de zaakvoerder als bestuurder”, 5 (deed in Dutch)
Registered office clause, “1700 Dilbeek,Begijnenborrestraat,22”, 6 (deed in Dutch)
Capital
Other provision, “bestuurder”, director resignation (deed in Dutch)
Board rule, 2
Director appointment, HAMBARTSUMYAN Armen (director)
Director appointment, GEVORKIAN Armen (director)

Open the act in the Belgian Official Gazette

2023

31-12

Financial Weakest financial yearnet €3,291 ▼36.2%

The net result drops to €3,291, the lowest from 2018 to 2025. It recovers the following year.

29-08

NBB filing Annual accounts 2022 filedPDF

micro format · 29 days late

Show earlier events

20-07

Gazette deed Resignation: Martirosjan Mery (director)

Appointment: Hambartsumyan Armen (director) · Director discharge · Share transfer5 points ▸

General meeting, 01-04-2023
Director resignation, Martirosjan Mery (director)
Director discharge, Martirosjan Mery
Director appointment, Hambartsumyan Armen (director)
Share transfer, Martirosjan Mery → Hambartsumyan Armen

Open the act in the Belgian Official Gazette

04-01

Gazette deed Capital & shares · Resignations & appointments

Share transfer · Shareholding · Director in office6 points ▸

General meeting, 30-09-2022
Share transfer, Moroiu Mariana Otilia → Martirosjan Mery
Share transfer, Hambartsumyan Mkrtich → Martirosjan Mery
Martirosjan Mery holds 85 shares
Gevorkian Armen holds 15 shares
Director in office, Martirosjan Mery (manager)

Open the act in the Belgian Official Gazette

2022

22-07

NBB filing Annual accounts 2021 filedPDF

micro format · 9 days before the deadline

26-04

Gazette deed Transfer of 5 shares

Shareholding · Partner · Director in office11 points ▸

General meeting, 01-04-2022
Share transfer, Martirosjan Mery → Moroiu Mariana-Otilina
Martirosjan Mery holds 55 shares
Moroiu Mariana-Otilina holds 5 shares
Hambartsumyan Mkrtitch holds 10 shares
Gevorkian Armen holds 15 shares
Partner, Martirosjan Mery
Partner, Moroiu Mariana-Otilina
Partner, Hambartsumyan Mkrtitch
Partner, Gevorkian Armen
Director in office, Martirosjan Mery (manager)

Open the act in the Belgian Official Gazette

2021

31-12

Financial Highest result from 2018 to 2025net €10,123 ▲51.3%

The net result of €10,123 is the highest of those years.

09-08

NBB filing Annual accounts 2020 filedPDF

micro format · 9 days late

2020

19-08

NBB filing Annual accounts 2019 filedPDF

micro format · 19 days late

2019

10-08

NBB filing Annual accounts 2018 filedPDF

micro format · 10 days late

2018

30-07

NBB filing Annual accounts 2017 filedPDF

full format · 1 day before the deadline

2017

03-08

NBB filing Annual accounts 2016 filedPDF

full format · 3 days late

2016

07-01

Gazette deed IncorporationPDF

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official Gazette Filings with the National Bank

History

On 5 January 2016, HAY PROGRESS was incorporated.¹ Total assets went from €40,188 in 2018 to €58,848 in 2025.²

Company details

Register details

Identity

KBO record

Name HAY PROGRESS in Dutch

Enterprise number 0645.589.339

Legal form Private limited company

Status Active, normale toestand

Founded 05-01-2016

Entity type Legal entity

Duration

Unlimited

deed of 12-04-2024 (in Dutch)

Registered office clause

“Vlaams Gewest, bij enkel besluit bestuursorgaan administratieve zetels,agentschappen,werkhuizen,stapelplaatsen,bijkantoren in België of…”

deed of 12-04-2024 (in Dutch)

Registered office and establishments

Registered office Begijnenborrestraat 22, 1700 Dilbeek, Belgium

Establishment unit La Taverne, Helmetsesteenweg 247, 1030 Schaarbeek since 05-01-2016 · unit number 2.248.861.163

Activities

NACEBEL 2025

VAT activities

56301 Cafés and bars main activity

Social security (RSZ) activities

56111 Full-service restaurants main activity

Codes under NACEBEL 2008

VAT activities

56301 Cafés and bars main activity

Social security (RSZ) activities

56101 Full-service restaurants main activity

Invoicing and payment

VAT number BE 0645.589.339

E-invoicing via Peppol

Reachable via Peppol

Peppol ID 0208:0645589339

Other Peppol ID 9925:BE0645589339

Registered 24-01-2026

Follow this company and you will hear the next morning if it leaves the Peppol register.

Financial year and general meeting

Accounts at the NBB

Financial year end 31-12

Financial year

Closes on 31 January

deed of 12-04-2024 (in Dutch)

Annual meeting

Third Thursday of June at 19:00

deed of 12-04-2024 (in Dutch)

Recognitions · licences · registrations

Food safety, FASFC

1 site

Schaarbeekunit number 2.248.861.163

1 permission

Drankgelegenheid · since 10-02-2016

Sites & property

Location

registered office establishment The establishment unit on the map

3 companies at this address See who is registered here

Buildings and parcels at the addresses

Ground area

1,296 m²

Building footprint

222 m²

Building volume

1,568 m³

Tallest building: 15.4 m.

Flanders 1 (50%) Brussels 1 (50%)

Cadastral parcel	Region	Area	Buildings	Height / floors
23016E0256/00F000	Flanders	1,212 m²	1 · 156 m²	8.3 m · 1
21015A0181/00S003	Brussels	84 m²	1 · 66 m²	15.3 m · 5