PROGECAP
ActiveSummary
PROGECAP has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €290k and a net result of €39k. Equity is growing by ~17.1% per year across the filed fiscal years. Its solvency ranks better than 57% of 7500 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-5
Solvency75▼-9
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 3.87 against 2.17 in 2024; short-term debt: 9.1% and cash: 9.1% of total assets), but 50.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more 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 2025Solvency, return and age of the figures
Solvency
49.8%
Return on assets
6.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
22 d late
2023
27 d late
2022
28 d early
2021
34 d early
2020
17 d late
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€290k▲ 15.5%
2024 · €251k
2018: €100klowest in 8 years
2019: €110k▲ +10.4% vs 2018
2020: €113k▲ +2.6% vs 2019
2021: €117k▲ +3.4% vs 2020
2022: €190k▲ +62.5% vs 2021
2023: €204k▲ +7.7% vs 2022
2024: €251k▲ +22.7% vs 2023
2025: €290k▲ +15.5% vs 2024highest in 8 years
2018 → 2025
Total assets
€582k▲ 36.7%
2024 · €426k
2018: €377k
2019: €361k▼ -4.3% vs 2018
2020: €352k▼ -2.5% vs 2019lowest in 8 years
2021: €378k▲ +7.4% vs 2020
2022: €451k▲ +19.5% vs 2021
2023: €438k▼ -3.0% vs 2022
2024: €426k▼ -2.7% vs 2023
2025: €582k▲ +36.7% vs 2024highest in 8 years
2018 → 2025
Net result
€39k▼ 16.2%
2024 · €47k
2018: €75k
2019: €50k▼ -33.0% vs 2018
2020: €48k▼ -4.9% vs 2019
2021: €52k▲ +8.4% vs 2020
2022: €121k▲ +133% vs 2021highest in 8 years
2023: €55k▼ -54.9% vs 2022
2024: €47k▼ -14.9% vs 2023
2025: €39k▼ -16.2% vs 2024lowest in 8 years
2018 → 2025
Working capital
€152k▲ 92.7%
2024 · €79k
2018: €12k
2019: €23k▲ +97.4% vs 2018
2020: €23k▼ -2.2% vs 2019
2021: €8k▼ -64.8% vs 2020lowest in 8 years
2022: €61k▲ +658% vs 2021
2023: €56k▼ -7.7% vs 2022
2024: €79k▲ +40.0% vs 2023
2025: €152k▲ +92.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€117k-€190k▲ 62.5%€204k▲ 7.7%€251k▲ 22.7%€290k▲ 15.5%
2021: €117klowest in 5 years
2022: €190k▲ +62.5% vs 2021
2023: €204k▲ +7.7% vs 2022
2024: €251k▲ +22.7% vs 2023
2025: €290k▲ +15.5% vs 2024highest in 5 years
Operating result€70k-€80k▲ 15.2%€81k▲ 1.3%€67k▼ 17.0%€38k▼ 43.2%
2021: €70k
2022: €80k▲ +15.2% vs 2021
2023: €81k▲ +1.3% vs 2022highest in 5 years
2024: €67k▼ -17.0% vs 2023
2025: €38k▼ -43.2% vs 2024lowest in 5 years
Net result€52k-€121k▲ 133%€55k▼ 54.9%€47k▼ 14.9%€39k▼ 16.2%
2021: €52k
2022: €121k▲ +133% vs 2021highest in 5 years
2023: €55k▼ -54.9% vs 2022
2024: €47k▼ -14.9% vs 2023
2025: €39k▼ -16.2% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 43% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €582k
Fixed assets
€377k ▲ 34.8%
Current assets
€205k ▲ 40.3%
Equity and liabilities €582k
Equity
€290k ▲ 15.5%
Debt
€292k ▲ 67.0%
Debt's share of the balance-sheet total rises from 41.1% to 50.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€78k▼
2024 · €82k
Cash flow
€79k▲
2024 · €61k
Current ratio
3.87▲
2024 · 2.17
Debt to equity
1.01▲
2024 · 0.70
ROE
13.4%▼
2024 · 18.5%
ROA
6.7%▼
2024 · 10.9%
Interest coverage
12.53▼
2024 · 23.09
Debt ≤ 1 year
€53k▼
2024 · €67k
Debt > 1 year
€238k▲
2024 · €106k
Income taxes
€13k▼
2024 · €21k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€426k€582k▲
Fixed assets21/28€280k€377k▲
Tangible fixed assets22/27€226k€324k▲
Land and buildings22€195k€297k▲
Furniture and vehicles24€6k€4k▼
Other tangible fixed assets26€26k€23k▼
Financial fixed assets28€53k€53k=
Current assets29/58€146k€205k▲
Amounts receivable within one year40/41€107k€147k▲
Trade receivables40€50k€45k▼
Other amounts receivable41€57k€102k▲
Cash at bank and in hand54/58€34k€53k▲
Deferred charges and accrued income490/1€6k€6k▲
Equity and liabilities
Total equity and liabilities10/49€426k€582k▲
Equity10/15€251k€290k▲
Contributions10/11€20k€20k=
Reserves13€200k€239k▲
Distributable reserves133€200k€239k▲
Profit (loss) carried forward14€30k€30k▲
Amounts payable17/49€175k€292k▲
Amounts payable after more than one year17€106k€238k▲
Financial debts170/4€106k€238k▲
Amounts payable within one year42/48€67k€53k▼
Current portion of amounts payable after more than one year42€32k€31k▼
Trade debts44€10k€6k▼
Suppliers440/4€10k€6k▼
Taxes, remuneration and social security45€25k€16k▼
Taxes450/3€25k€16k▼
Remuneration and social security454/9-€61
Accrued charges and deferred income492/3€1k€1k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€40k▲
Other operating charges640/8€2k€2k▲
Non-recurring operating charges66A€15k-
Gross operating margin9900€99k€80k▼
Operating profit (loss)9901€67k€38k▼
Financial income75/76B€4k€20k▲
Recurring financial income75€4k€20k▲
Financial charges65/66B€4k€6k▲
Recurring financial charges65€4k€6k▲
Profit (loss) for the period before taxes9903€68k€52k▼
Income taxes67/77€21k€13k▼
Profit (loss) for the period9904€47k€39k▼
Profit (loss) for the period to be appropriated9905€47k€39k▼
Appropriation of the result
Profit (loss) to be appropriated9906€76k€69k▼
Profit (loss) brought forward from the previous period14P€30k€30k▲
Transfer to equity691/2€46k€39k▼
To other reserves6921€46k€39k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14k | €13k | €20k | €15k | €40k | ▲ 166% |
| Other operating charges640/8 | €2k | €2k | €3k | €2k | €2k | ▲ 10.8% |
| Non-recurring operating charges66A | - | - | - | €15k | - | - |
| Gross operating margin9900 | €85k | €95k | €104k | €99k | €80k | ▼ 19.0% |
| Operating profit (loss)9901 | €70k | €80k | €81k | €67k | €38k | ▼ 43.2% |
| Financial income75/76B | - | €60k | - | €4k | €20k | ▲ 399% |
| Recurring financial income75 | - | €60k | - | €4k | €20k | ▲ 399% |
| Financial charges65/66B | €4k | €3k | €4k | €4k | €6k | ▲ 74.5% |
| Recurring financial charges65 | €4k | €3k | €4k | €4k | €6k | ▲ 74.5% |
| Profit (loss) for the period before taxes9903 | €66k | €137k | €77k | €68k | €52k | ▼ 23.2% |
| Transfer to deferred taxes680 | €14k | - | - | - | - | - |
| Income taxes67/77 | - | €16k | €23k | €21k | €13k | ▼ 38.5% |
| Profit (loss) for the period9904 | €52k | €121k | €55k | €47k | €39k | ▼ 16.2% |
| Profit (loss) for the period to be appropriated9905 | €52k | €121k | €55k | €47k | €39k | ▼ 16.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €378k | €451k | €438k | €426k | €582k | ▲ 36.7% |
| Fixed assets21/28 | €287k | €305k | €287k | €280k | €377k | ▲ 34.8% |
| Tangible fixed assets22/27 | €234k | €252k | €234k | €226k | €324k | ▲ 42.9% |
| Land and buildings22 | €233k | €220k | €208k | €195k | €297k | ▲ 52.5% |
| Furniture and vehicles24 | €525 | €32k | €26k | €6k | €4k | ▼ 38.5% |
| Other tangible fixed assets26 | - | - | - | €26k | €23k | ▼ 10.6% |
| Financial fixed assets28 | €53k | €53k | €53k | €53k | €53k | = |
| Current assets29/58 | €91k | €146k | €151k | €146k | €205k | ▲ 40.3% |
| Amounts receivable within one year40/41 | €50k | €115k | €117k | €107k | €147k | ▲ 37.5% |
| Trade receivables40 | €16k | €25k | €41k | €50k | €45k | ▼ 9.9% |
| Other amounts receivable41 | €34k | €90k | €75k | €57k | €102k | ▲ 78.8% |
| Cash at bank and in hand54/58 | €27k | €23k | €26k | €34k | €53k | ▲ 55.5% |
| Deferred charges and accrued income490/1 | €14k | €8k | €8k | €6k | €6k | ▲ 0.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €378k | €451k | €438k | €426k | €582k | ▲ 36.7% |
| Equity10/15 | €117k | €190k | €204k | €251k | €290k | ▲ 15.5% |
| Contributions10/11 | €19k | €19k | €20k | €20k | €20k | = |
| Capital10 | €19k | €19k | - | - | - | - |
| Issued capital100 | €19k | €19k | - | - | - | - |
| Reserves13 | €2k | €2k | €154k | €200k | €239k | ▲ 19.4% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Legal reserve130 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | - | - | €154k | €200k | €239k | ▲ 19.4% |
| Profit (loss) carried forward14 | €96k | €169k | €30k | €30k | €30k | ▲ 0.3% |
| Amounts payable17/49 | €261k | €262k | €234k | €175k | €292k | ▲ 67.0% |
| Amounts payable after more than one year17 | €177k | €176k | €139k | €106k | €238k | ▲ 124% |
| Financial debts170/4 | €177k | €176k | €139k | €106k | €238k | ▲ 124% |
| Amounts payable within one year42/48 | €83k | €85k | €95k | €67k | €53k | ▼ 21.1% |
| Current portion of amounts payable after more than one year42 | €25k | €25k | €32k | €32k | €31k | ▼ 3.6% |
| Trade debts44 | - | €749 | €559 | €10k | €6k | ▼ 42.6% |
| Suppliers440/4 | - | €749 | €559 | €10k | €6k | ▼ 42.6% |
| Taxes, remuneration and social security45 | €24k | €26k | €42k | €25k | €16k | ▼ 35.4% |
| Taxes450/3 | €24k | €26k | €42k | €25k | €16k | ▼ 35.6% |
| Remuneration and social security454/9 | - | - | - | - | €61 | - |
| Other amounts payable47/48 | €34k | €34k | €21k | - | - | - |
| Accrued charges and deferred income492/3 | €1k | - | - | €1k | €1k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52k | €121k | €55k | €47k | €39k | ▼ 16.2% |
| + Depreciation and write-downs630 | €14k | €13k | €20k | €15k | €40k | ▲ 166% |
| Operating cash flow (approximation) | €65k | €134k | €74k | €61k | €79k | ▲ 28.0% |
| Investment in fixed assets (approximation) | - | €-32k | €-1k | €-8k | €-137k | ▼ 1,656% |
| Change in cash | - | €-4k | €3k | €8k | €19k | ▲ 148% |
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
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €39k ▼16.2%
Net result drops to €39k, the lowest in the series.
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-12
Financial
Equity above €200kEq €204k ▲7.7%
6 profitable years in a row build equity to €204k.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €121k ▲133%
Net result €121k, the highest in the series.
31-12
Financial
Equity above €150kEq €190k ▲62.5%
5 profitable years in a row build equity to €190k.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 17 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €100kEq €110k ▲10.4%
2 profitable years in a row build equity to €110k.
Show earlier events
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 19 days late
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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, Lasne · 1 establishment unit since 2006
Ground area
832 m²
Building footprint
116 m²
Volume, LiDAR
745 m³
Parcel 25051C0128/00M004, Wallonia · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
PROGECAP
since 20062.150.974.505
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25051C0128/00M004 | Wallonia | 831 m² | 1 · 116 m² | 8.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
VANROME& FILS
BE 0415.045.974
Morlanwelz · Eq €289,879
AS BUILT PROJECT
BE 0870.596.675
Sint-Jans-Molenbeek · Eq €289,852
Derudder YNA
BE 0834.659.462
Chaumont-Gistoux · Eq €289,815
GEERTS BEHEER
BE 0405.036.960
Beveren-Kruibeke-Zwijndrecht · Eq €290,177
BOUWWERKEN OOGHE
BE 0822.129.240
Lierde · Eq €290,210
Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 11,085 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
Founded04-01-2006
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41003General construction of other non-residential buildings
42130Civil engineering
71111Activities of building architects
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.