PROGAN
ActiveSummary
PROGAN has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €585,435 and a net result of €23,241. Equity is growing by ~9.3% per year across the filed fiscal years. Its solvency ranks better than 94% of 20786 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability39▼-52
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 17.4 against 19.9 in 2023; short-term debt: 4.2% and cash: 15.7% of total assets), and 5.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
94.3%
Return on assets
3.7%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-09-2025, 48 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
48 d late
2023
57 d late
2022
46 d late
2021
271 d late
2020
10 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 87 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€23,241▼ 78.0%
2023 · €105,749
Working capital
€429,419▲ 25.0%
2023 · €343,628
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€181,755▲ 7.8%€124,692▼ 31.4%€140,652▲ 12.8%€152,548▲ 8.5%€120,543▼ 21.0%
Net result€134,643above the sector's middle half▲ 19.5%€84,906above the sector's middle half▼ 36.9%€102,902above the sector's middle half▲ 21.2%€105,749above the sector's middle half▲ 2.8%€23,241within the sector's middle half▼ 78.0%
Equity€398,636within the sector's middle half▲ 1.2%€353,542above the sector's middle half▼ 11.3%€456,445above the sector's middle half▲ 29.1%€562,194above the sector's middle half▲ 23.2%€585,435above the sector's middle half▲ 4.1%
Total assets€630,224within the sector's middle half▲ 39.2%€558,003above the sector's middle half▼ 11.5%€589,995above the sector's middle half▲ 5.7%€589,423above the sector's middle half▼ 0.1%€620,671above the sector's middle half▲ 5.3%
Debt€225,696▲ 328%€198,568▼ 12.0%€127,658▼ 35.7%€21,337▼ 83.3%€29,344▲ 37.5%
Working capital€29,125within the sector's middle half▲ 16.1%€135,371above the sector's middle half▲ 365%€239,881above the sector's middle half▲ 77.2%€343,628above the sector's middle half▲ 43.2%€429,419above the sector's middle half▲ 25.0%
Solvency63.3%within the sector's middle half▼ 23.8pp63.4%within the sector's middle half▲ 0.1pp77.4%within the sector's middle half▲ 14.0pp95.4%above the sector's middle half▲ 18.0pp94.3%above the sector's middle half▼ 1.1pp
Current ratio1.13within the sector's middle half▼ 0.381.69within the sector's middle half▲ 0.562.93within the sector's middle half▲ 1.2319.90above the sector's middle half▲ 16.9717.40above the sector's middle half▼ 2.50
Return on assets (ROA)21.4%above the sector's middle half▼ 3.5pp15.2%within the sector's middle half▼ 6.1pp17.4%within the sector's middle half▲ 2.2pp17.9%within the sector's middle half▲ 0.5pp3.7%below the sector's middle half▼ 14.2pp
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 21% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €620,671
Fixed assets
€165,060 ▼ 27.5%
Current assets
€455,610 ▲ 25.9%
Equity and liabilities €620,671
Equity
€585,435 ▲ 4.1%
Provisions
€5,892 =
Debt
€29,344 ▲ 37.5%
Debt's share of the balance-sheet total rises from 3.6% to 4.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€123,205▼
2023 · €155,173
Cash flow
€25,904▼
2023 · €108,374
Debt to equity
0.05▲
2023 · 0.04
ROE
4.0%▼
2023 · 18.8%
Interest coverage
1.93▼
2023 · 107.72
Debt ≤ 1 year
€26,192▲
2023 · €18,185
Debt > 1 year
€3,152=
2023 · €3,152
Income taxes
€39,919▼
2023 · €45,359
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,733 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,534 | €1,869 | €1,608 | €2,625 | €2,662 | ▲ 1.4% |
| Other operating charges640/8 | - | €1,224 | €757 | €946 | €22,731 | ▲ 2,303% |
| Gross operating margin9900 | €184,498 | €127,784 | €143,016 | €156,119 | €145,937 | ▼ 6.5% |
| Operating profit (loss)9901 | €181,755 | €124,692 | €140,652 | €152,548 | €120,543 | ▼ 21.0% |
| Financial income75/76B | - | €90 | €0 | €1 | €6,548 | ▲ 1,259,052% |
| Recurring financial income75 | €1,433 | €90 | €0 | €1 | €6,548 | ▲ 1,259,052% |
| Financial charges65/66B | - | €2,277 | €1,347 | €1,441 | €63,931 | ▲ 4,338% |
| Recurring financial charges65 | €1,171 | €2,277 | €1,347 | €1,441 | €63,931 | ▲ 4,338% |
| Profit (loss) for the period before taxes9903 | €182,017 | €122,505 | €139,305 | €151,108 | €63,160 | ▼ 58.2% |
| Income taxes67/77 | €47,374 | €37,598 | €36,402 | €45,359 | €39,919 | ▼ 12.0% |
| Profit (loss) for the period9904 | €134,643 | €84,906 | €102,902 | €105,749 | €23,241 | ▼ 78.0% |
| Profit (loss) for the period to be appropriated9905 | €134,643 | €84,906 | €102,902 | €105,749 | €23,241 | ▼ 78.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €630,224 | €558,003 | €589,995 | €589,423 | €620,671 | ▲ 5.3% |
| Fixed assets21/28 | €378,555 | €227,215 | €225,607 | €227,609 | €165,060 | ▼ 27.5% |
| Tangible fixed assets22/27 | €156,787 | €156,497 | €154,889 | €156,891 | €156,594 | ▼ 0.2% |
| Land and buildings22 | - | €151,784 | €151,784 | €151,784 | €151,784 | = |
| Plant, machinery and equipment23 | - | €2,033 | €1,356 | €904 | €2,628 | ▲ 191% |
| Furniture and vehicles24 | - | €2,680 | €1,750 | €4,203 | €2,182 | ▼ 48.1% |
| Financial fixed assets28 | €221,768 | €70,718 | €70,718 | €70,718 | €8,467 | ▼ 88.0% |
| Current assets29/58 | €251,669 | €330,788 | €364,387 | €361,814 | €455,610 | ▲ 25.9% |
| Amounts receivable after more than one year29 | - | €86,050 | €86,050 | €21,050 | - | - |
| Other amounts receivable291 | - | €86,050 | €86,050 | €21,050 | - | - |
| Amounts receivable within one year40/41 | €66,305 | €24,281 | €51,235 | €79,902 | €177,781 | ▲ 122% |
| Trade receivables40 | - | €6,000 | €39,940 | €19,809 | €44 | ▼ 99.8% |
| Other amounts receivable41 | - | €18,281 | €11,295 | €60,093 | €177,737 | ▲ 196% |
| Current investments50/53 | - | €180,000 | €180,000 | €180,000 | €180,000 | = |
| Cash at bank and in hand54/58 | €184,939 | €39,778 | €46,672 | €80,386 | €97,331 | ▲ 21.1% |
| Deferred charges and accrued income490/1 | - | €679 | €431 | €476 | €498 | ▲ 4.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €630,224 | €558,003 | €589,995 | €589,423 | €620,671 | ▲ 5.3% |
| Equity10/15 | €398,636 | €353,542 | €456,445 | €562,194 | €585,435 | ▲ 4.1% |
| Contributions10/11 | - | €64,034 | €64,034 | €64,034 | €64,034 | = |
| Reserves13 | €334,602 | €289,509 | €392,411 | €498,160 | €521,401 | ▲ 4.7% |
| Non-distributable reserves130/1 | - | €6,403 | €6,403 | - | - | - |
| Reserves not available under the articles1311 | - | €6,403 | €6,403 | - | - | - |
| Distributable reserves133 | - | €283,105 | €386,007 | €498,160 | €521,401 | ▲ 4.7% |
| Profit (loss) carried forward14 | €289,095 | - | - | - | - | - |
| Provisions and deferred taxes16 | €5,892 | €5,892 | €5,892 | €5,892 | €5,892 | = |
| Provisions for liabilities and charges160/5 | - | €5,892 | €5,892 | €5,892 | €5,892 | = |
| Taxes161 | - | €5,892 | €5,892 | €5,892 | €5,892 | = |
| Amounts payable17/49 | €225,696 | €198,568 | €127,658 | €21,337 | €29,344 | ▲ 37.5% |
| Amounts payable after more than one year17 | €3,152 | €3,152 | €3,152 | €3,152 | €3,152 | = |
| Financial debts170/4 | - | €3,152 | €3,152 | €3,152 | €3,152 | = |
| Amounts payable within one year42/48 | €222,544 | €195,416 | €124,506 | €18,185 | €26,192 | ▲ 44.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €5,212 | - |
| Financial debts43 | - | - | €10,142 | - | - | - |
| Credit institutions430/8 | - | - | €10,142 | - | - | - |
| Trade debts44 | €42,910 | €19,461 | €26,608 | €10,954 | €8,276 | ▼ 24.4% |
| Suppliers440/4 | - | €19,461 | €26,608 | €10,954 | €8,276 | ▼ 24.4% |
| Taxes, remuneration and social security45 | - | €45,253 | €6,179 | €6,492 | €12,703 | ▲ 95.7% |
| Taxes450/3 | - | €45,253 | €6,179 | €6,492 | €12,703 | ▲ 95.7% |
| Other amounts payable47/48 | - | €130,702 | €81,577 | €740 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €134,643 | €84,906 | €102,902 | €105,749 | €23,241 | ▼ 78.0% |
| + Depreciation and write-downs630 | €1,534 | €1,869 | €1,608 | €2,625 | €2,662 | ▲ 1.4% |
| Operating cash flow (approximation) | €136,177 | €86,775 | €104,510 | €108,374 | €25,904 | ▼ 76.1% |
| Investment in fixed assets (approximation) | - | €149,471 | €0 | -€4,627 | €59,886 | ▲ 1,394% |
| Change in cash | - | -€145,161 | €6,894 | €33,714 | €16,945 | ▼ 49.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
17-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 48 days late
2024
31-12
Financial
Weakest financial yearnet €23,241 ▼78%
Net result drops to €23,241, the lowest in the series.
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 57 days late
2023
31-12
Financial
Liquidity times 7current ratio 19.90
Current ratio from 2.93 to 19.90; short-term debt falls from €124,506 to €18,185.
31-12
Financial
Equity above €500,000Eq €562,194 ▲23.2%
5 profitable years in a row build equity to €562,194.
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 46 days late
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 271 days late
2021
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 10 days late
2020
31-12
Financial
Highest result since 2019net €134,643 ▲19.5%
Operating result €181,755, net result €134,643, both a record.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 56 days late
2017
06-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 98 days late
2016
20-11
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 112 days late
2015
23-12
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 145 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 1990
Ground area
1,157 m²
Building footprint
260 m²
Volume, LiDAR
2,463 m³
2 parcels, Brussels · tallest building 15.6 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Prudent Bolslaan 143, 1020 Brussel
since 19902.039.361.949
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21815D0019/00P003 | Brussels | 958 m² | 1 · 169 m² | 13.2 m · 3 fl. |
| 21816C0009/00R008 | Brussels | 199 m² | 1 · 90 m² | 15.6 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
50%
According to the 2024 annual accounts of PROGAN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 16,911 companies in sector 62100 we hold annual accounts for 8,786. 5,218 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-06-1988
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
E-invoicing
Reachable via Peppol
Peppol ID
0208:0434528425
Registered
14-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.