PROGIL
Open bankruptcyA bankruptcy procedure is open for PROGIL according to publications in the Belgian State Gazette; curator: PIETER-JAN DELODDER.
Summary
The 2023 annual accounts show equity of €177k and a net result of €47k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 30-06-2023 was due by 31-01-2024 and was filed on 12-02-2024, 12 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 filed
2024
not filed
2023
12 d late
2022
4 d late
2021
3 d late
2020
28 d late
2019
1 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, micro schema
Equity
€177k▲ 15.1%
2022 · €154k
2019: €87k
2020: €97k
2021: €109k
2022: €154k
2019 → 2023
Total assets
€305k▼ 0.1%
2022 · €306k
2019: €225k
2020: €212k
2021: €243k
2022: €306k
2019 → 2023
Net result
€47k▼ 31.2%
2022 · €69k
2019: €40k
2020: €34k
2021: €36k
2022: €69k
2019 → 2023
Working capital
€189k▼ 5.9%
2022 · €200k
2019: €106k
2020: €111k
2021: €135k
2022: €200k
2019 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€87k-€97k▲ 11.9%€109k▲ 11.9%€154k▲ 40.9%€177k▲ 15.1%
Operating result€54k-€35k▼ 35.1%€34k▼ 4.8%€85k▲ 154%€55k▼ 34.8%
Net result€40k-€34k▼ 15.0%€36k▲ 3.5%€69k▲ 93.0%€47k▼ 31.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2023; 2023 is 35% below 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €305k
Fixed assets
€5k
Current assets
€300k
Equity and liabilities €305k
Equity
€177k ▲ 15.1%
Debt
€128k ▼ 15.5%
Debt's share of the balance-sheet total falls from 49.7% to 42.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€57k▼
2022 · €86k
Cash flow
€48k▼
2022 · €69k
Current ratio
2.69▼
2022 · 2.90
Debt to equity
0.73▼
2022 · 0.99
ROE
26.7%▼
2022 · 44.7%
ROA
15.5%▼
2022 · 22.5%
Interest coverage
8.75▼
2022 · 12.14
Debt ≤ 1 year
€112k▲
2022 · €105k
Debt > 1 year
€17k▼
2022 · €47k
Income taxes
€9k▼
2022 · €17k
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 · 2023 against 2022 · 49 lines
Balance sheet
Code20222023
Assets
Total assets20/58€306k€305k▼
Fixed assets21/28-€5k
Tangible fixed assets22/27-€5k
Furniture and vehicles24-€5k
Current assets29/58€306k€300k▼
Amounts receivable after more than one year29€225k€250k▲
Other amounts receivable291€225k€250k▲
Amounts receivable within one year40/41€74k€42k▼
Trade receivables40€17k€29k▲
Other amounts receivable41€58k€14k▼
Cash at bank and in hand54/58€2k€3k▲
Deferred charges and accrued income490/1€5k€5k▲
Equity and liabilities
Total equity and liabilities10/49€306k€305k▼
Equity10/15€154k€177k▲
Contributions10/11€19k€19k=
Reserves13€6k€6k=
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Tax-exempt reserves132€1k€1k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€129k€153k▲
Amounts payable17/49€152k€128k▼
Amounts payable after more than one year17€47k€17k▼
Financial debts170/4€47k€17k▼
Amounts payable within one year42/48€105k€112k▲
Current portion of amounts payable after more than one year42€30k€30k▲
Financial debts43€12-
Credit institutions430/8€12-
Trade debts44€29k€41k▲
Suppliers440/4€29k€41k▲
Taxes, remuneration and social security45€22k€17k▼
Taxes450/3€22k€17k▼
Other amounts payable47/48€24k€24k=
Income statement
Code20222023
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€333€1k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€88k€58k▼
Operating profit (loss)9901€85k€55k▼
Financial income75/76B€8k€7k▼
Recurring financial income75€8k€7k▼
Financial charges65/66B€7k€6k▼
Recurring financial charges65€7k€6k▼
Profit (loss) for the period before taxes9903€86k€56k▼
Income taxes67/77€17k€9k▼
Profit (loss) for the period9904€69k€47k▼
Profit (loss) for the period to be appropriated9905€69k€47k▼
Appropriation of the result
Profit (loss) to be appropriated9906€153k€177k▲
Profit (loss) brought forward from the previous period14P€85k€129k▲
Profit to be distributed694/7€24k€24k=
Return on contributions (dividend)694€24k€24k=
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
16-10
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Brugge · PROGIL BV VIVEN- STEENWEG 8, 8340 DAMME · event 10-10-2024
12-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
04-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 4 days late
2022
30-06
Financial
Highest result since 2019net €69k ▲93%
Operating result €85k, net result €69k, both a record.
30-06
Financial
Equity above €150kEq €154k ▲40.9%
4 profitable years in a row build equity to €154k.
03-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2021
30-06
Financial
Equity above €100kEq €109k ▲11.9%
3 profitable years in a row build equity to €109k.
28-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
2020
30-06
Financial
Weakest financial yearnet €34k ▼15%
Net result drops to €34k, the lowest in the series.
01-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 1 day late
2019
04-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 4 days late
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Show earlier events
2017
01-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 1 day late
2016
11-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 40 days late
2015
16-02
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 16 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Damme · 1 establishment unit since 1995
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Vivensteenweg 88340 DammeGround area
976 m²
Building footprint
379 m²
Volume, LiDAR
5,198 m³
2 parcels, Flanders · tallest building 26.5 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
THE LINEN HOUSE
since 19952.070.085.215
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31432A0276/00K000 | Flanders | 751 m² | 1 · 160 m² | 6.7 m · 1 fl. |
| 31332E0980/00_000 | Flanders | 226 m² | 1 · 219 m² | 26.5 m · 7 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | PIETER-JAN DELODDER STATIONSSTRAAT 34,
8020 OOSTKAMP |
10-10-2024 → present |
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Of 12,604 companies in sector 49410 we hold annual accounts for 8,202. 6,284 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded09-11-1994
Fiscal year end30-06
Activities, NACEBEL 2025
49410Freight transport by road
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.