PROGECKO
ActiveSummary
PROGECKO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €344,332 and a net result of -€50,658. Equity is growing by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 83% of 181 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability2▼-17
Solvency100=
Growth35=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days acceptable
Liquidity ample (current ratio 13.96 against 12.0 in 2024; short-term debt: 1.9% and cash: 23.3% of total assets), and 10.7% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
202122232425
2020 to 2025 · latest year -€50,658
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 6 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
31 d late
2022
58 d late
2021
150 d late
2020
30 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 55 days after the deadline; the sector median for financial year 2024 is 23 days before the deadline, and 27% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€214,372▼ 47.2%
2022 · €405,905
EBIT margin
42.3%▼ 39.8pp
2022 · 82.1%
Net result
-€50,658▼ 18,672%
2024 · -€270
Working capital
€94,871▼ 76.0%
2024 · €394,575
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, 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
Line20212022202320242025
Turnover€405,905€214,372▼ 47.2%
Operating result€30,817▼ 65.2%€333,229▲ 981%€90,752▼ 72.8%-€9,720-€55,359▼ 470%
Net result€23,388within the sector's middle half▼ 66.9%€242,120above the sector's middle half▲ 935%€54,006above the sector's middle half▼ 77.7%-€270within the sector's middle half-€50,658below the sector's middle half▼ 18,672%
EBIT margin82.1%42.3%▼ 39.8pp
Equity€99,134within the sector's middle half▲ 30.9%€341,254within the sector's middle half▲ 244%€395,260above the sector's middle half▲ 15.8%€394,990above the sector's middle half▼ 0.1%€344,332above the sector's middle half▼ 12.8%
Total assets€147,764within the sector's middle half▲ 28.7%€466,985within the sector's middle half▲ 216%€448,111within the sector's middle half▼ 4.0%€475,327within the sector's middle half▲ 6.1%€385,374within the sector's middle half▼ 18.9%
Debt€48,631▲ 24.5%€125,731▲ 159%€52,851▼ 58.0%€80,337▲ 52.0%€41,043▼ 48.9%
Working capital€97,754within the sector's middle half▲ 29.2%€340,194above the sector's middle half▲ 248%€394,520above the sector's middle half▲ 16.0%€394,575above the sector's middle half=€94,871within the sector's middle half▼ 76.0%
Solvency67.1%within the sector's middle half▲ 1.1pp73.1%above the sector's middle half▲ 6.0pp88.2%above the sector's middle half▲ 15.1pp83.1%above the sector's middle half▼ 5.1pp89.3%above the sector's middle half▲ 6.3pp
Current ratio3.01within the sector's middle half▲ 0.073.71within the sector's middle half▲ 0.708.46above the sector's middle half▲ 4.7612.00above the sector's middle half▲ 3.5413.96above the sector's middle half▲ 1.96
Return on assets (ROA)15.8%above the sector's middle half▼ 45.8pp51.8%above the sector's middle half▲ 36.0pp12.1%within the sector's middle half▼ 39.8pp-0.1%within the sector's middle half▼ 12.1pp-13.1%below the sector's middle half▼ 13.1pp
Staff (FTE)1▲ 900%1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €55,359 in 2025 against €9,720 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €385,374
Fixed assets
€283,184 ▲ 531%
Current assets
€102,190 ▼ 76.3%
Equity and liabilities €385,374
Equity
€344,332 ▼ 12.8%
Debt
€41,043 ▼ 48.9%
Debt's share of the balance-sheet total falls from 16.9% to 10.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€44,211▼
2024 · -€195
Cash flow
-€39,510▼
2024 · €9,255
Debt to equity
0.12▼
2024 · 0.20
ROE
-14.7%▼
2024 · -0.1%
Interest coverage
-300.45▼
2024 · -0.09
Debt ≤ 1 year
€7,319▼
2024 · €35,855
Debt > 1 year
€33,324▼
2024 · €44,482
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €405,905 | €214,372 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €62,552 | €116,444 | - | - | - |
| Remuneration, social security and pensions62 | €3,853 | €9,713 | €6,471 | €2,520 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €320 | €320 | €320 | €9,525 | €11,147 | ▲ 17.0% |
| Other operating charges640/8 | - | €90 | €384 | €547 | €501 | ▼ 8.4% |
| Non-recurring operating charges66A | - | - | - | €261 | - | - |
| Gross operating margin9900 | €34,990 | €343,353 | €97,928 | €3,132 | -€43,711 | ▼ 1,496% |
| Operating profit (loss)9901 | €30,817 | €333,229 | €90,752 | -€9,720 | -€55,359 | ▼ 470% |
| Financial income75/76B | - | - | €0 | €11,686 | €4,848 | ▼ 58.5% |
| Recurring financial income75 | - | - | €0 | €11,686 | €4,848 | ▼ 58.5% |
| Financial charges65/66B | €1,084 | €19 | €142 | €2,236 | €147 | ▼ 93.4% |
| Recurring financial charges65 | €1,084 | €19 | €142 | €2,236 | €147 | ▼ 93.4% |
| Profit (loss) for the period before taxes9903 | €29,734 | €333,210 | €90,610 | -€270 | -€50,658 | ▼ 18,672% |
| Income taxes67/77 | €6,346 | €91,090 | €36,604 | - | - | - |
| Profit (loss) for the period9904 | €23,388 | €242,120 | €54,006 | -€270 | -€50,658 | ▼ 18,672% |
| Profit (loss) for the period to be appropriated9905 | €23,388 | €242,120 | €54,006 | -€270 | -€50,658 | ▼ 18,672% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €147,764 | €466,985 | €448,111 | €475,327 | €385,374 | ▼ 18.9% |
| Fixed assets21/28 | €1,380 | €1,060 | €740 | €44,896 | €283,184 | ▲ 531% |
| Tangible fixed assets22/27 | €1,280 | €960 | €640 | €44,796 | €38,084 | ▼ 15.0% |
| Furniture and vehicles24 | €1,280 | €960 | €640 | €42,951 | €33,459 | ▼ 22.1% |
| Other tangible fixed assets26 | - | - | - | €1,845 | €4,626 | ▲ 151% |
| Financial fixed assets28 | €100 | €100 | €100 | €100 | €245,100 | ▲ 245,000% |
| Current assets29/58 | €146,384 | €465,925 | €447,371 | €430,431 | €102,190 | ▼ 76.3% |
| Amounts receivable after more than one year29 | - | - | - | - | €409 | - |
| Other amounts receivable291 | - | - | - | - | €409 | - |
| Amounts receivable within one year40/41 | - | - | €44,748 | €33,710 | €12,037 | ▼ 64.3% |
| Trade receivables40 | - | - | €44,748 | - | - | - |
| Other amounts receivable41 | - | - | - | €33,710 | €12,037 | ▼ 64.3% |
| Current investments50/53 | - | - | €400,000 | - | - | - |
| Cash at bank and in hand54/58 | €146,259 | €464,831 | €2,173 | €391,979 | €89,716 | ▼ 77.1% |
| Deferred charges and accrued income490/1 | €125 | €1,094 | €450 | €4,742 | €28 | ▼ 99.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €147,764 | €466,985 | €448,111 | €475,327 | €385,374 | ▼ 18.9% |
| Equity10/15 | €99,134 | €341,254 | €395,260 | €394,990 | €344,332 | ▼ 12.8% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €70,000 | €312,120 | €366,126 | €366,126 | €366,126 | = |
| Distributable reserves133 | €70,000 | €312,120 | €366,126 | €366,126 | €366,126 | = |
| Profit (loss) carried forward14 | €24,134 | €24,134 | €24,134 | €23,864 | -€26,794 | ▼ 212% |
| Amounts payable17/49 | €48,631 | €125,731 | €52,851 | €80,337 | €41,043 | ▼ 48.9% |
| Amounts payable after more than one year17 | - | - | - | €44,482 | €33,324 | ▼ 25.1% |
| Financial debts170/4 | - | - | - | €44,482 | €33,324 | ▼ 25.1% |
| Amounts payable within one year42/48 | €48,631 | €125,731 | €52,851 | €35,855 | €7,319 | ▼ 79.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €5,124 | - | - |
| Trade debts44 | €6,204 | €8,094 | €7,626 | €6,102 | €5,961 | ▼ 2.3% |
| Suppliers440/4 | €6,204 | €8,094 | €7,626 | €6,102 | €5,961 | ▼ 2.3% |
| Advances received on contracts in progress46 | - | - | - | - | €1,358 | - |
| Taxes, remuneration and social security45 | €33,585 | €113,816 | €43,930 | €24,629 | - | - |
| Taxes450/3 | €33,068 | €113,096 | €43,619 | €24,629 | - | - |
| Remuneration and social security454/9 | €518 | €721 | €310 | - | - | - |
| Other amounts payable47/48 | €8,841 | €3,820 | €1,295 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €400 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,388 | €242,120 | €54,006 | -€270 | -€50,658 | ▼ 18,672% |
| + Depreciation and write-downs630 | €320 | €320 | €320 | €9,525 | €11,147 | ▲ 17.0% |
| Operating cash flow (approximation) | €23,708 | €242,440 | €54,326 | €9,255 | -€39,510 | ▼ 527% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€53,681 | -€249,435 | ▼ 365% |
| Change in cash | - | €318,572 | -€462,658 | €389,806 | -€302,263 | ▼ 178% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€50,658
Net result drops to -€50,658, the lowest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Liquidity doublescurrent ratio 8.46
Current ratio from 3.71 to 8.46; short-term debt falls from €125,731 to €52,851.
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 58 days late
2022
31-12
Financial
Highest result since 2020net €242,120 ▲935%
Operating result €333,229, net result €242,120, both a record.
31-12
Financial
Equity above €200,000Eq €341,254 ▲244%
3 profitable years in a row build equity to €341,254.
28-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 150 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
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.
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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, Watermaal-Bosvoorde · 1 establishment unit since 2020
Ground area
265 m²
Building footprint
108 m²
Volume, LiDAR
907 m³
Parcel 21652E0020/00L023, Brussels · tallest building 12.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Progecko
since 20202.301.700.627
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0020/00L023 | Brussels | 265 m² | 1 · 108 m² | 12.5 m · 3 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.
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Of 814 companies in sector 35110 we hold annual accounts for 632. 419 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
Founded19-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
Contact
Phone
0498028803Watermaal-Bosvoorde
E-invoicing
Reachable via Peppol
Peppol ID
0208:0743827969
Also
9925:BE0743827969
Registered
08-01-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.