Progress

Active

Private limited companyfounded 2010active for 16 yearsMolenbergstraat 44, 2300 Turnhout, BelgiumKBO/BCE: BE 0829.949.717

The file of Progress contains 2 judicial reorganisation notices, as published in the Belgian Official Gazette.

Summary

The annual accounts of Progress for financial year 2024 show a net loss of 74% of the equity at the start of that year. The computed 12-month bankruptcy probability is at least 25% (high). The 2024 annual accounts show equity of €55,359 and a net result of -€158,136. Equity remains stable across the filed financial years (±0.7% per year). Its solvency ranks better than 16% of 2,072 sector peers (NACE 41, financial year 2024).

Risk analysisFollow Report Compare

ProgressActiveChecked score 8/100

Risk analysis Report Compare

Activity

General construction of residential buildings

NACE 41001

1 site

Size

≈ €340,000turnover 2024, estimated

Staff: 3.5 FTE
Equity: €55,359
Loss: -€158,136

Turnover estimated from the gross margin

Financial health

8 Critical Checked score 2024

Bankruptcy probabilitywithin 12 months: ≥ 25%

Structure

MEDOV,MaratDirector
MEDOVA,Liliya ZufarovnaDirector

2025 accounts not filed, 89 days past the deadline2 of 5 deeds summarised

Why 8raises riskReorganisation plan being carried out (approved, Gazette 02-02-2026)Loss of €158,136, the second in a row (financial year 2024)1 financial year not filed after the legal deadline; last filed accounts filed 27 days late; 2 of the last 3 late2 warning signals in 24 months (reorganisation 2)Show the evidence

Checked score

Score 2024

8 / 100

Critical

Probability in this band: over 15.0%

Financially better than 9% of its sector peers (NACE 41, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2023

Weak

Solvency 33-16

equity 8.2% of total assets

Liquidity 4-9

short-term debt 86.0% · cash 1.2%

Profitability 0-29

return on assets -23.5%

Bankruptcy probability, 12 months

≥ 25% High

0%0.5%1.5%4%10%≥ 25%

About 1 in 3 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.5% (13,441 companies, NACE 41, micro)

Last 24 months 11-2024: 1.7% 12-2024: 1.7%● unchanged vs 11-2024 01-2025: 1.7%● unchanged vs 12-2024 02-2025: 1.7%● unchanged vs 01-2025 03-2025: 1.7%● unchanged vs 02-2025 04-2025: 1.7%● unchanged vs 03-2025 05-2025: 1.7%● unchanged vs 04-2025lowest value 06-2025: 2.0%▲ +0.3 percentage points vs 05-2025 07-2025: 2.1%▲ +0.1 percentage points vs 06-2025 08-2025: 2.5%▲ +0.4 percentage points vs 07-2025 09-2025: 5.1%▲ +2.6 percentage points vs 08-2025 10-2025: 5.1%● unchanged vs 09-2025 03-2026: ≥ 25% 04-2026: ≥ 25%● unchanged vs 03-2026 05-2026: ≥ 25%● unchanged vs 04-2026 06-2026: ≥ 25%● unchanged vs 05-2026 07-2026: ≥ 25%● unchanged vs 06-2026 08-2026: ≥ 25%● unchanged vs 07-2026 09-2026: ≥ 25%● unchanged vs 08-2026 10-2026: ≥ 25%● unchanged vs 09-2026highest value

No credit on open account

Liquidity tight (current ratio 1.16, compared with 1.32 in 2023, below the usual 1.5; short-term debt: 86% and cash: 1.2% of total assets), and 91.8% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro): better than 17% on solvency, 6% on liquidity, 5% on profitability and 7% on growth.

The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

Credit check for your own amount and term

Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Eight signals.

raises risk

Reorganisation plan being carried out (approved, Gazette 02-02-2026)

Belgian Official Gazette

Loss of €158,136, the second in a row (financial year 2024)

NBB · annual accounts

1 financial year not filed after the legal deadline; last filed accounts filed 27 days late; 2 of the last 3 late

NBB · filings

2 warning signals in 24 months (reorganisation 2)

Belgian Official Gazette

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year -€158,136

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 2072 sector peers (2024).

NBB · sector comparison

Position among 2072 sector peers

Solvency

better than 16%

← weakest strongest →

Annual accounts not filed

The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 89 days later.

NBB · 10 filings

Position against the passed deadline

31-12-2025 year end31-07-2026 deadline28-10-2026 today

2024 accounts filed 27 days late

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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.

NBB · 10 filings

Deviation from the deadline

2025

not filed

2024

27 days late

2023

54 days late

2022

60 days late

2021

31 days late

2020

110 days late

2019

105 days 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 65 days after the deadline; the sector median (NACE 41) for financial year 2024 is on the deadline day, and 46% of those companies filed late.

Searched, nothing found (1)

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

06-02-2026 Resignation: Liliya MEDOVA (director)Director discharge
02-02-2026 Plan homologationEnterprise Court of Antwerp ·…
13-10-2025 OpeningEnterprise Court of Antwerp ·…

Key points

Caution: Result fell in 2024from -€5,355 to -€158,136 ▼ 2,853% View
Caution: Among the weakest 5% on net resultsector median €22,994 · 2,070 companies -€158,136 View
Caution: 2025 accounts not fileddeadline was 31-07-2026 89 days past the deadline View
Caution: 2 loss-making years in a rowloss financial year 2024 -€158,136 View
A director leftlatest change 26-01-2026 · 2 in office 1 left View

By topic

Financials

Financial year: 2024
Total assets: €673,072
Loss: -€158,136
Solvency: 8.2%

Total assets▼ 24.7%

Net result

20182024

Go to Financials

Board & ownership

Board: 2 members

MEDOV,MaratDirector
MEDOVA,Liliya ZufarovnaDirector

Go to Board & ownership

Timeline

Events: 21
Since: 2012

27-08-2025Annual accounts filed
31-12-2024Weakest financial year
23-09-2024Annual accounts filed

Go to Timeline

Company details

Sites: 1

Legal form: Private limited company
Activity: General construction of residential buildingsNACE 41001
Founded: 05-10-2010
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 14

Who signs: Each director alone
Annual meeting: Last Friday of June at 20:00
Purpose: “Alle aannemingen en onderaannemingen van werken,algemene bouwonderneming eventueel in…” (deed in Dutch)

Go to Articles of association

Key facts about Progress

What is the company number of Progress?: 0829.949.717. In Belgium the VAT number is the company number with BE in front: BE 0829.949.717.
Where is Progress based?: The registered office is at Molenbergstraat 44, 2300 Turnhout.Company details
What does Progress do?: According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
What is the legal form of Progress?: Private limited company (BV).
When was Progress founded?: On 05-10-2010.
Is Progress still active?: Yes, Progress is an active enterprise in the KBO register.
How many employees does Progress have?: On average 3.5 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
What is the turnover of Progress?: Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
Is Progress profitable?: In financial year 2024, Progress made a loss of €158,136.
Where can I find the annual accounts of Progress?: Progress filed 14 annual accounts with the National Bank of Belgium, the latest for financial year 2024.