Active BE 0795.953.492Private limited company

M&D PROGRESS

Hooglareweg(HA) 18 ·9450 Haaltert, Belgium· 3 yrs active

Sector: General construction of other non-residential buildings (41003)

Conclusion Checked

The computed 12-month bankruptcy probability of M&D PROGRESS is 2.5% (moderate). The 2025 annual accounts show equity of €23k and a net result of €437. Its solvency ranks better than 17% of 1093 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 2 annual accounts.

Key figures

Equity	€23k
Net result	€437
Better than sector	17%
Active	3 yrs

Financial profile 5 of 5 axes measured · computed by Checked

45 / 100

Mixed profile: strong on stability, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 45

Profitability 14

Solvency 20

Growth 52

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

2.5% Moderate

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2023, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

45 / 100 Fair

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€1k

estimate, not credit advice

Score history

78 2024

45 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 1.09 (≥ 1.0) +5

Quick ratio Quick ratio 1.09 (≥ 1.0) +5

Leverage Debt/equity 8.72 (> 3.0) -10

Profitability ROE 2% +3

EBITDA margin EBITDA-marge 1% +2

Interest coverage Interest coverage 1.1× (< 1.5×) -10

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview2 NBB filings

Annual accounts filed on 03-11-2025 with the NBB · fiscal year 2025 · micro schema

RevenueOperating resultNet result

Sector comparison

Fiscal year 2025 · NACE 41, Construction of residential and non-residential buildings · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	10.3%	42.3%	better than 17% of 1093 sector peers
Net result	€437	€11k	better than 22% of 1093 sector peers
Equity	€23k	€35k	better than 37% of 1095 sector peers
Gross operating margin	€9k	€29k	better than 22% of 1092 sector peers
Staff costs	€456	€17k	higher than 18% of 289 sector peers

Revenue

€393k

- 24-25

EBITDA

€6k

- 24-25

Net profit

€437

-97.9% 24-25

Cash flow

€496

- 24-25

Total assets

€219k

+293.5% 24-25

Equity

€23k

+2.0% 24-25

Working capital

€17k

-24.0% 24-25

Staff costs

€456

- 24-25

Income taxes

€6k

- 24-25

Debt

€197k

+485.4% 24-25

Debt ≤ 1y

€197k

+485.4% 24-25

Current ratio

1.09

-34.5% 24-25

Quick ratio

1.09

-34.5% 24-25

Solvency

10.3%

-74.1% 24-25

Debt / equity

8.72

+474.0% 24-25

ROE

1.9%

-98.0% 24-25

ROA

0.2%

-99.5% 24-25

Net margin

0.1%

- 24-25

EBITDA margin

1.5%

- 24-25

Interest coverage

1.09

- 24-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024
Deposit	micro schema	micro schema
Revenue	€393k	-
EBITDA	€6k	-
Net profit	€437	€21k
Cash flow	€496	-
Staff costs	€456	-
Income taxes	-	€6k
Dividends	-	-
Total assets	€219k	€56k
Equity	€23k	€22k
Debt	€197k	€34k
of which ≤ 1y	€197k	€34k
of which > 1y	-	-
Working capital	€17k	€22k
Employees (FTE)	-	-

Ratios (computed)

	2025	2024
Current ratio	1.09	1.66
Quick ratio	1.09	1.66
Working capital ratio	7.7%	39.7%
Solvency	10.3%	39.7%
Debt / equity	8.72	1.52
Long-term debt ratio	-	-
Interest coverage	1.09	-
Gross margin	2.2%	-
Net margin	0.1%	-
ROA	0.2%	37.9%
ROE	1.9%	95.5%
EBITDA margin	1.5%	-
Days sales outstanding	137d	-
Days payable outstanding	180d	-
Inventory turnover	-	-
Days inventory (DSI)	-	-

Balance-sheet composition 2025

Assets

Fixed assets €6k · 2.6% Current assets €214k · 97.4%

Equity & liabilities

Equity €23k · 10.3% Debt €197k · 89.7%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€219k	€56k
Fixed assets	21/28	€6k	-
Tangible fixed assets	22/27	€643	-
Financial fixed assets	28	€5k	-
Current assets	29/58	€214k	€56k
Amounts receivable within one year	40/41	€209k	€55k
Cash & bank	54/58	€5k	€621
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€219k	€56k
Equity	10/15	€23k	€22k
Contributions / capital	10/11	€1k	€1k
Accumulated profits (losses)	14	€22k	€21k
Amounts payable	17/49	€197k	€34k
Amounts payable within one year	42/48	€197k	€34k
Trade debts payable within one year	44	€190k	€28k
Income statement
Turnover	70	€393k	-
Gross operating margin	9900	€9k	€36k
Operating result	9901	€6k	€32k
Financial income	75	€2	€573
Financial charges	65	€5k	€5k
Result before taxes	9903	€437	€27k
Income taxes	67/77	-	€6k
Net result for the period	9904	€437	€21k
Result to be appropriated	9905	€437	€21k

Legal Structure

NACE primary	General construction of other non-residential buildings(41003)
Legal form	Private limited company(610)
Incorporation	10-01-2023
Status	Active
Postal code	9450

Establishment units 1 location

M&D PROGRESS

Hooglareweg(HA) 18, 9450 HaaltertManufacture of rubber and plastic products

since 20232.339.984.349

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
41024A0344/00L000	Flanders	445 m²	1 · 145 m²	9.1 m · 1 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 2 events

All 2Filings 2

Next filing, fiscal year 2026, expected by 31-10-2026

2025

03-11

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 3 days late

27-02

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 119 days late

NBB filing

Belgian State Gazette reading coverage 0 of 1 acts read

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

General construction of other non-residential buildings41003Logistics services52250Warehousing and support activities for transportation52290Other postal and courier activities53200General cleaning of buildings81210Hairdressing96021Beauty treatment96022Hairdressing and barber services96210Beauty care and other beauty treatments96220

Names & trade names

Legal nameNL

M&D PROGRESS

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