PROGECO
ActiveSummary
The computed 12-month bankruptcy probability of PROGECO is 1.8% (moderate). For PROGECO, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €150,494 and a net result of -€40,821. Equity is growing by ~29% per year across the filed fiscal years. Its solvency ranks better than 34% of 33673 sector peers (fiscal year 2023). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability8▼-8
Solvency56▼-8
Growth52=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Six 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2023Solvency, return and age of the figures
Solvency
31.1%
Return on assets
-8.4%
Age of the figures
33 mo
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
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline28-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 28-10-2024, 89 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
not filed
2023
89 d late
2022
66 d late
2021
61 d late
2020
89 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 5 accounts on average 79 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2023, micro schema
Equity
€150,494▼ 21.3%
2022 · €191,315
Total assets
€483,307▼ 1.4%
2022 · €490,231
Net result
-€40,821▼ 247%
2022 · -€11,777
Working capital
€148,953▼ 20.8%
2022 · €188,006
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20192020202120222023
Operating result€51,047▲ 315%€50,379▼ 1.3%€137,000▲ 172%-€4,875-€86,562▼ 1,676%
Net result€37,152▲ 391%€35,875above the sector's middle half▼ 3.4%€101,343above the sector's middle half▲ 182%-€11,777below the sector's middle half-€40,821below the sector's middle half▼ 247%
Equity€65,875▲ 129%€101,749within the sector's middle half▲ 54.5%€203,092above the sector's middle half▲ 99.6%€191,315above the sector's middle half▼ 5.8%€150,494above the sector's middle half▼ 21.3%
Total assets€218,224▲ 58.8%€296,159above the sector's middle half▲ 35.7%€498,010above the sector's middle half▲ 68.2%€490,231above the sector's middle half▼ 1.6%€483,307above the sector's middle half▼ 1.4%
Debt€152,349▲ 40.1%€194,410▲ 27.6%€294,918▲ 51.7%€298,917▲ 1.4%€332,813▲ 11.3%
Working capital€68,429▲ 66.4%€101,852▲ 48.8%€198,464▲ 94.9%€188,006▼ 5.3%€148,953▼ 20.8%
Solvency30.2%▲ 9.3pp34.4%within the sector's middle half▲ 4.2pp40.8%within the sector's middle half▲ 6.4pp39.0%within the sector's middle half▼ 1.8pp31.1%within the sector's middle half▼ 7.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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 €86,562 in 2023 against €4,875 in 2022; the loss grows and 2023 has the lowest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €483,307
Fixed assets
€1,541 ▼ 53.4%
Current assets
€481,766 ▼ 1.1%
Equity and liabilities €483,307
Equity
€150,494 ▼ 21.3%
Debt
€332,813 ▲ 11.3%
Debt's share of the balance-sheet total rises from 61.0% to 68.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€84,794▼
2022 · -€3,106
Cash flow
-€39,052▼
2022 · -€10,009
Current ratio
1.45▼
2022 · 1.63
Debt to equity
2.21▲
2022 · 1.56
ROE
-27.1%▼
2022 · -6.2%
ROA
-8.4%▼
2022 · -2.4%
Interest coverage
-12.52▼
2022 · -0.97
Debt ≤ 1 year
€332,813▲
2022 · €298,917
Income taxes
-€2,168▼
2022 · €5,050
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,745 | €2,745 | €1,574 | €1,769 | €1,769 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €5,869 | €85,551 | - | - |
| Other operating charges640/8 | - | - | €4,354 | €710 | €336 | ▼ 52.7% |
| Non-recurring operating charges66A | - | - | €7,260 | €14,254 | €9,001 | ▼ 36.9% |
| Gross operating margin9900 | €70,534 | €54,530 | €156,056 | €97,409 | -€75,456 | ▼ 177% |
| Operating profit (loss)9901 | €51,047 | €50,379 | €137,000 | -€4,875 | -€86,562 | ▼ 1,676% |
| Financial income75/76B | - | - | €11,325 | €1,351 | €50,343 | ▲ 3,626% |
| Recurring financial income75 | €1,406 | €306 | €5,032 | €667 | €1,278 | ▲ 91.7% |
| Non-recurring financial income76B | - | - | €6,293 | €684 | €49,065 | ▲ 7,070% |
| Financial charges65/66B | - | - | €1,917 | €3,205 | €6,770 | ▲ 111% |
| Recurring financial charges65 | €3,798 | €1,917 | €1,917 | €3,205 | €6,770 | ▲ 111% |
| Profit (loss) for the period before taxes9903 | €48,655 | €48,768 | €146,408 | -€6,728 | -€42,989 | ▼ 539% |
| Income taxes67/77 | €11,502 | €12,893 | €45,065 | €5,050 | -€2,168 | ▼ 143% |
| Profit (loss) for the period9904 | €37,152 | €35,875 | €101,343 | -€11,777 | -€40,821 | ▼ 247% |
| Profit (loss) for the period to be appropriated9905 | €37,152 | €35,875 | €101,343 | -€11,777 | -€40,821 | ▼ 247% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €218,224 | €296,159 | €498,010 | €490,231 | €483,307 | ▼ 1.4% |
| Fixed assets21/28 | €7,992 | €5,247 | €5,078 | €3,309 | €1,541 | ▼ 53.4% |
| Tangible fixed assets22/27 | €7,208 | €4,463 | €4,294 | €2,525 | €757 | ▼ 70.0% |
| Furniture and vehicles24 | - | - | €4,294 | €2,525 | €757 | ▼ 70.0% |
| Financial fixed assets28 | €784 | €784 | €784 | €784 | €784 | = |
| Current assets29/58 | €210,232 | €290,912 | €492,933 | €486,922 | €481,766 | ▼ 1.1% |
| Amounts receivable within one year40/41 | €116,241 | €169,193 | €358,794 | €224,131 | €473,533 | ▲ 111% |
| Trade receivables40 | - | - | €330,227 | €162,499 | €386,080 | ▲ 138% |
| Other amounts receivable41 | - | - | €28,568 | €61,632 | €87,453 | ▲ 41.9% |
| Cash at bank and in hand54/58 | €93,991 | €121,719 | €133,613 | €262,608 | €7,104 | ▼ 97.3% |
| Deferred charges and accrued income490/1 | - | - | €525 | €184 | €1,130 | ▲ 515% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €218,224 | €296,159 | €498,010 | €490,231 | €483,307 | ▼ 1.4% |
| Equity10/15 | €65,875 | €101,749 | €203,092 | €191,315 | €150,494 | ▼ 21.3% |
| Contributions10/11 | - | - | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €1,855 | €20,405 | €20,405 | €20,405 | €20,405 | = |
| Non-distributable reserves130/1 | - | - | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | - | €18,550 | €18,550 | €18,550 | = |
| Profit (loss) carried forward14 | €43,470 | €79,344 | €180,687 | €168,910 | €128,089 | ▼ 24.2% |
| Amounts payable17/49 | €152,349 | €194,410 | €294,918 | €298,917 | €332,813 | ▲ 11.3% |
| Amounts payable after more than one year17 | €10,547 | €5,350 | €450 | - | - | - |
| Financial debts170/4 | - | - | €450 | - | - | - |
| Amounts payable within one year42/48 | €141,803 | €189,060 | €294,468 | €298,917 | €332,813 | ▲ 11.3% |
| Current portion of amounts payable after more than one year42 | - | - | €5,325 | €450 | - | - |
| Trade debts44 | €92,150 | €140,567 | €232,842 | €255,058 | €327,830 | ▲ 28.5% |
| Suppliers440/4 | - | - | €232,842 | €255,058 | €327,830 | ▲ 28.5% |
| Taxes, remuneration and social security45 | - | - | €56,302 | €43,409 | €4,983 | ▼ 88.5% |
| Taxes450/3 | - | - | €56,302 | €43,409 | €4,983 | ▼ 88.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,152 | €35,875 | €101,343 | -€11,777 | -€40,821 | ▼ 247% |
| + Depreciation and write-downs630 | €2,745 | €2,745 | €1,574 | €1,769 | €1,769 | = |
| Operating cash flow (approximation) | €39,898 | €38,620 | €102,917 | -€10,009 | -€39,052 | ▼ 290% |
| Investment in fixed assets (approximation) | - | €0 | -€1,405 | €0 | €0 | - |
| Change in cash | - | €27,728 | €11,893 | €128,995 | -€255,504 | ▼ 298% |
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
2024
28-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 89 days late
2023
31-12
Financial
Weakest financial yearnet -€40,821
Net result drops to -€40,821, the lowest in the series.
05-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 66 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-12
Financial
Highest result since 2018net €101,343 ▲182%
Operating result €137,000, net result €101,343, both a record.
31-12
Financial
Equity above €200,000Eq €203,092 ▲99.6%
4 profitable years in a row build equity to €203,092.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Equity above €100,000Eq €101,749 ▲54.5%
3 profitable years in a row build equity to €101,749.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 26 days late
2015
13-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 13 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Remicourt · 1 establishment unit since 2013
Ground area
1,249 m²
Building footprint
150 m²
Volume, LiDAR
867 m³
Parcel 64039A0272/00K000, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue de la Victoire(REM) 83, 4350 Remicourt
since 20132.216.637.466
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64039A0272/00K000 | Wallonia | 1,249 m² | 1 · 150 m² | 7.4 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.
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,629 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
Founded01-02-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43230Insulation installation
43240Other construction installation
43350Other building finishing work
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0502982018
Registered
11-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.