Progress
ActiveThe file of Progress contains 1 judicial reorganisation, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 23.7% (high). The 2024 annual accounts show equity of €55k and a net result of €-158k. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 16% of 2090 sector peers (fiscal year 2024).
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency20▼-22
Growth32▼-20
Stability60
Bankruptcy probability, 12 months
23.7%
High
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.16 against 1.32 in 2023), and 91.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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
Sector 41
higher
← 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 2024Solvency, return and age of the figures
Solvency
8.2%
Return on assets
-23.5%
Age of the figures
20 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 · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€158k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 2090 sector peers (2024).
NBB · sector comparisonPosition among 2090 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-08-2025, 27 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
27 d late
2023
54 d late
2022
60 d late
2021
31 d late
2020
110 d late
2019
105 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€55k▼ 74.1%
2023 · €213k
2018: €159k
2019: €193k
2020: €222k
2021: €261k
2022: €219k
2023: €213k
2018 → 2024
Total assets
€673k▼ 24.7%
2023 · €894k
2018: €269k
2019: €454k
2020: €580k
2021: €391k
2022: €776k
2023: €894k
2018 → 2024
Net result
€-158k▼ 2,853%
2023 · €-5k
2018: €31k
2019: €39k
2020: €49k
2021: €39k
2022: €15k
2023: €-5k
2018 → 2024
Working capital
€93k▼ 56.6%
2023 · €214k
2018: €158k
2019: €162k
2020: €196k
2021: €240k
2022: €205k
2023: €214k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€222k-€261k▲ 17.6%€219k▼ 16.2%€213k▼ 2.4%€55k▼ 74.1%
Operating result€68k-€53k▼ 22.5%€33k▼ 38.0%€18k▼ 45.4%€-108k
Net result€49k-€39k▼ 19.6%€15k▼ 60.6%€-5k€-158k▼ 2,853%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €108k after €18k in 2023, the lowest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €673k
Fixed assets
€2k▼ 63.3%
Current assets
€671k▼ 24.5%
Equity and liabilities €673k
Equity
€55k▼ 74.1%
Debt
€618k▼ 9.3%
The debt ratio rises from 76.1% to 91.8%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€-103k▼
2023 · €32k
Cash flow
€-154k▼
2023 · €9k
Solvency
8.2%▼
2023 · 23.9%
Current ratio
1.16▼
2023 · 1.32
Quick ratio
0.31▲
2023 · 0.21
Debt / equity
11.16▲
2023 · 3.19
ROE
-285.7%▼
2023 · -2.5%
ROA
-23.5%▼
2023 · -0.6%
Interest coverage
-2.08▼
2023 · 1.32
Debt
€618k▼
2023 · €681k
Debt ≤ 1 year
€579k▼
2023 · €676k
Debt > 1 year
€32k▲
2023 · €0
Income taxes
€1k▲
2023 · €412
Staff costs
€177k▲
2023 · €114k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€894k€673k▼
Fixed assets21/28€5k€2k▼
Tangible fixed assets22/27€4k€2k▼
Plant, machinery and equipment23€1k€1k▼
Furniture and vehicles24€2k€188▼
Leasing and similar rights25€995€0▼
Financial fixed assets28€210€210=
Current assets29/58€890k€671k▼
Stocks and contracts in progress3€746k€493k▼
Stocks30/36€335k€221k▼
Contracts in progress37€411k€272k▼
Amounts receivable within one year40/41€113k€168k▲
Trade receivables40€90k€125k▲
Other amounts receivable41€23k€43k▲
Cash at bank and in hand54/58€28k€8k▼
Deferred charges and accrued income490/1€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€894k€673k▼
Equity10/15€213k€55k▼
Contributions10/11€12k€12k=
Reserves13€201k€185k▼
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Tax-exempt reserves132€13k€13k=
Distributable reserves133€188k€172k▼
Profit (loss) carried forward14€0€-142k▼
Amounts payable17/49€681k€618k▼
Amounts payable after more than one year17€0€32k▲
Financial debts170/4€0€32k▲
Amounts payable within one year42/48€676k€579k▼
Current portion of amounts payable after more than one year42€2k€12k▲
Financial debts43€517k€354k▼
Credit institutions430/8€517k€354k▼
Trade debts44€119k€192k▲
Suppliers440/4€119k€192k▲
Taxes, remuneration and social security45€18k€20k▲
Taxes450/3€12k€0▼
Remuneration and social security454/9€6k€20k▲
Other amounts payable47/48€21k€0▼
Accrued charges and deferred income492/3€5k€7k▲
Income statement
Code20232024
Remuneration, social security and pensions62€114k€177k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€4k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€3k€-11k▼
Other operating charges640/8€12k€26k▲
Gross operating margin9900€161k€89k▼
Operating profit (loss)9901€18k€-108k▼
Financial income75/76B€2k€562▼
Recurring financial income75€2k€562▼
Financial charges65/66B€24k€50k▲
Recurring financial charges65€24k€50k▲
Profit (loss) for the period before taxes9903€-5k€-157k▼
Income taxes67/77€412€1k▲
Profit (loss) for the period9904€-5k€-158k▼
Profit (loss) for the period to be appropriated9905€-5k€-158k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-5k€-158k▼
Transfer from equity791/2€5k€16k▲
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
Social balance
Average headcount (FTE)90872.23.5▲
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
13-10
Judicial reorganisation
Opening
Ondernemingsrechtbank Antwerpen · collectif_pme · event 07-10-2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet €-158k
Net result drops to €-158k, the lowest in the series.
23-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 54 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 60 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
18-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 110 days late
2020
31-12
Financial
Highest result since 2018net €49k ▲26%
Operating result €68k, net result €49k, both a record.
31-12
Financial
Equity above €200kEq €222k ▲14.8%
3 profitable years in a row build equity to €222k.
13-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 105 days late
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 9 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
26-01-2026
Resigned as Director
Not every act has been read: a resignation may be missing here
4 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Turnhout · 1 establishment unit since 2010
Ground area
225 m²
Building footprint
76 m²
Volume, LiDAR
632 m³
Parcel 13452N0179/00C000, Flanders · tallest building 9.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Progress
since 20102.193.981.038
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13452N0179/00C000 | Flanders | 225 m² | 1 · 76 m² | 9.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 29,529 companies in sector 41001 we hold annual accounts for 15,848. 12,979 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-10-2010
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
53200Other postal and courier activities
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.