PROGRACE
ActiveSummary
The computed 12-month bankruptcy probability of PROGRACE is 1.8% (moderate). The 2025 annual accounts show equity of €7k and a net result of €-3k. Equity is shrinking by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 55% of 11389 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency74▲+12
Growth52=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity ample (current ratio 1.9 against 1.48 in 2024; short-term debt: 50.9% and cash: 8.5% of total assets), but 50.9% 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.
+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
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 2025Solvency, return and age of the figures
Solvency
49.1%
Return on assets
-18%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more 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
2122232425
2021 to 2025 · latest year €-3k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-07-2026, 20 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
20 d early
2024
33 d early
2023
18 d early
2022
1 d early
2021
29 d late
← 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
€7k▼ 26.8%
2024 · €10k
2021: €7klowest in 5 years
2022: €12k▲ +67.6% vs 2021
2023: €24k▲ +95.9% vs 2022highest in 5 years
2024: €10k▼ -58.1% vs 2023
2025: €7k▼ -26.8% vs 2024
2021 → 2025
Total assets
€15k▼ 44.8%
2024 · €27k
2021: €18k
2022: €30k▲ +66.3% vs 2021
2023: €39k▲ +28.4% vs 2022highest in 5 years
2024: €27k▼ -31.0% vs 2023
2025: €15k▼ -44.8% vs 2024lowest in 5 years
2021 → 2025
Net result
€-3k▲ 60.5%
2024 · €-7k
2021: €2k
2022: €6k▲ +197% vs 2021
2023: €14k▲ +110% vs 2022highest in 5 years
2024: €-7k▼ -149% vs 2023lowest in 5 years
2025: €-3k▲ +60.5% vs 2024
2021 → 2025
Working capital
€7k▼ 17.1%
2024 · €8k
2021: €-6klowest in 5 years
2022: €-1k▲ +79.2% vs 2021
2023: €19k▲ +1600% vs 2022highest in 5 years
2024: €8k▼ -57.1% vs 2023
2025: €7k▼ -17.1% vs 2024
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€7k-€12k▲ 67.6%€24k▲ 95.9%€10k▼ 58.1%€7k▼ 26.8%
2021: €7klowest in 5 years
2022: €12k▲ +67.6% vs 2021
2023: €24k▲ +95.9% vs 2022highest in 5 years
2024: €10k▼ -58.1% vs 2023
2025: €7k▼ -26.8% vs 2024
Operating result€3k-€9k▲ 209%€19k▲ 97.2%€-6k€-2k▲ 66.7%
2021: €3k
2022: €9k▲ +209% vs 2021
2023: €19k▲ +97.2% vs 2022highest in 5 years
2024: €-6k▼ -133% vs 2023lowest in 5 years
2025: €-2k▲ +66.7% vs 2024
Net result€2k-€6k▲ 197%€14k▲ 110%€-7k€-3k▲ 60.5%
2021: €2k
2022: €6k▲ +197% vs 2021
2023: €14k▲ +110% vs 2022highest in 5 years
2024: €-7k▼ -149% vs 2023lowest in 5 years
2025: €-3k▲ +60.5% vs 2024
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 €2k in 2025 against €6k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15k
Fixed assets
€478 ▼ 72.4%
Current assets
€14k ▼ 42.9%
Equity and liabilities €15k
Equity
€7k ▼ 26.8%
Debt
€7k ▼ 55.4%
Debt's share of the balance-sheet total falls from 63.0% to 50.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-120▲
2024 · €-3k
Cash flow
€-724▲
2024 · €-4k
Current ratio
1.90▲
2024 · 1.48
Debt to equity
1.04▼
2024 · 1.70
ROE
-36.7%▲
2024 · -67.8%
ROA
-18.0%▲
2024 · -25.1%
Interest coverage
-1.54▲
2024 · -29.51
Debt ≤ 1 year
€7k▼
2024 · €17k
Income taxes
€532▲
2024 · €493
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€27k€15k▼
Fixed assets21/28€2k€478▼
Intangible fixed assets21€1€0▼
Tangible fixed assets22/27€2k€477▼
Plant, machinery and equipment23€550€477▼
Furniture and vehicles24€1k€0▼
Current assets29/58€25k€14k▼
Amounts receivable within one year40/41€17k€13k▼
Trade receivables40€13k€9k▼
Other amounts receivable41€4k€4k▲
Cash at bank and in hand54/58€7k€1k▼
Deferred charges and accrued income490/1€2k€219▼
Equity and liabilities
Total equity and liabilities10/49€27k€15k▼
Equity10/15€10k€7k▼
Contributions10/11€5k€5k=
Reserves13€5k€2k▼
Distributable reserves133€5k€2k▼
Profit (loss) carried forward14€14€218▲
Amounts payable17/49€17k€7k▼
Amounts payable within one year42/48€17k€7k▼
Current portion of amounts payable after more than one year42€0-
Trade debts44€3k€3k▲
Suppliers440/4€3k€3k▲
Taxes, remuneration and social security45€14k€2k▼
Taxes450/3€14k€2k▼
Other amounts payable47/48€0€3k▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€2k▼
Other operating charges640/8€962€1k▲
Gross operating margin9900€-2k€940▲
Operating profit (loss)9901€-6k€-2k▲
Financial income75/76B€51€6▼
Recurring financial income75€51€6▼
Financial charges65/66B€111€78▼
Recurring financial charges65€111€78▼
Profit (loss) for the period before taxes9903€-6k€-2k▲
Income taxes67/77€493€532▲
Profit (loss) for the period9904€-7k€-3k▲
Profit (loss) for the period to be appropriated9905€-7k€-3k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-3k▲
Profit (loss) brought forward from the previous period14P€57€14▼
Transfer from equity791/2€14k€3k▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€7k€0▼
Return on contributions (dividend)694€7k€0▼
Directors or managers695€0-
The notes to these accounts (9 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 | - | - | €1k | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €5k | €3k | €3k | €2k | ▼ 32.5% |
| Other operating charges640/8 | €3k | €1k | €1k | €962 | €1k | ▲ 10.2% |
| Gross operating margin9900 | €13k | €15k | €22k | €-2k | €940 | ▲ 140% |
| Operating profit (loss)9901 | €3k | €9k | €19k | €-6k | €-2k | ▲ 66.7% |
| Financial income75/76B | - | €103 | €0 | €51 | €6 | ▼ 88.0% |
| Recurring financial income75 | - | €103 | €0 | €51 | €6 | ▼ 88.0% |
| Financial charges65/66B | €518 | €267 | €194 | €111 | €78 | ▼ 30.2% |
| Recurring financial charges65 | €518 | €267 | €194 | €111 | €78 | ▼ 30.2% |
| Profit (loss) for the period before taxes9903 | €3k | €9k | €18k | €-6k | €-2k | ▲ 65.9% |
| Income taxes67/77 | €343 | €3k | €5k | €493 | €532 | ▲ 8.0% |
| Profit (loss) for the period9904 | €2k | €6k | €14k | €-7k | €-3k | ▲ 60.5% |
| Profit (loss) for the period to be appropriated9905 | €2k | €6k | €14k | €-7k | €-3k | ▲ 60.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18k | €30k | €39k | €27k | €15k | ▼ 44.8% |
| Fixed assets21/28 | €17k | €14k | €5k | €2k | €478 | ▼ 72.4% |
| Intangible fixed assets21 | €1 | €1 | €1 | €1 | €0 | ▼ 18.2% |
| Tangible fixed assets22/27 | €17k | €14k | €5k | €2k | €477 | ▼ 72.4% |
| Plant, machinery and equipment23 | - | €2k | €1k | €550 | €477 | ▼ 13.2% |
| Furniture and vehicles24 | €17k | €12k | €3k | €1k | €0 | ▼ 100% |
| Current assets29/58 | €1k | €16k | €34k | €25k | €14k | ▼ 42.9% |
| Amounts receivable within one year40/41 | €1 | €16k | €24k | €17k | €13k | ▼ 24.4% |
| Trade receivables40 | €1 | €13k | €24k | €13k | €9k | ▼ 31.5% |
| Other amounts receivable41 | - | €3k | €0 | €4k | €4k | ▲ 1.8% |
| Cash at bank and in hand54/58 | €605 | €56 | €10k | €7k | €1k | ▼ 80.7% |
| Deferred charges and accrued income490/1 | €846 | €194 | €201 | €2k | €219 | ▼ 85.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18k | €30k | €39k | €27k | €15k | ▼ 44.8% |
| Equity10/15 | €7k | €12k | €24k | €10k | €7k | ▼ 26.8% |
| Contributions10/11 | €5k | €5k | €5k | €5k | €5k | = |
| Reserves13 | - | - | €19k | €5k | €2k | ▼ 58.8% |
| Distributable reserves133 | - | - | €19k | €5k | €2k | ▼ 58.8% |
| Profit (loss) carried forward14 | €2k | €7k | €57 | €14 | €218 | ▲ 1,448% |
| Amounts payable17/49 | €11k | €18k | €15k | €17k | €7k | ▼ 55.4% |
| Amounts payable after more than one year17 | €3k | €483 | €0 | - | - | - |
| Financial debts170/4 | €3k | €483 | €0 | - | - | - |
| Amounts payable within one year42/48 | €8k | €18k | €15k | €17k | €7k | ▼ 55.4% |
| Current portion of amounts payable after more than one year42 | €3k | €3k | €483 | €0 | - | - |
| Trade debts44 | €2k | €6k | €3k | €3k | €3k | ▲ 10.6% |
| Suppliers440/4 | €2k | €6k | €3k | €3k | €3k | ▲ 10.6% |
| Taxes, remuneration and social security45 | €3k | €7k | €9k | €14k | €2k | ▼ 87.3% |
| Taxes450/3 | €3k | €7k | €9k | €14k | €2k | ▼ 87.3% |
| Other amounts payable47/48 | €30 | €2k | €2k | €0 | €3k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €6k | €14k | €-7k | €-3k | ▲ 60.5% |
| + Depreciation and write-downs630 | €7k | €5k | €3k | €3k | €2k | ▼ 32.5% |
| Operating cash flow (approximation) | €9k | €11k | €16k | €-4k | €-724 | ▲ 81.2% |
| Investment in fixed assets (approximation) | - | €-2k | €6k | €0 | €-668 | - |
| Change in cash | - | €-549 | €10k | €-4k | €-5k | ▼ 41.4% |
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
11-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
13-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2021net €14k ▲110%
Operating result €19k, net result €14k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.26
Current ratio from 0.93 to 2.26; short-term debt falls from €18k to €15k.
30-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 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, Erpe-Mere · 1 establishment unit since 2020
Ground area
1,285 m²
Building footprint
185 m²
Volume, LiDAR
1,353 m³
Parcel 41006A0537/00L002, Flanders · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PROGRACE
since 20202.304.982.591
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41006A0537/00L002 | Flanders | 1,285 m² | 1 · 185 m² | 12.1 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 4,415 companies in sector 46180 we hold annual accounts for 1,884. 784 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
Founded16-07-2020
Fiscal year end31-12
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
46500Wholesale of information and communication equipment
46851Wholesale of industrial chemicals
Scores and ratios are computed by Checked and are not a credit decision.