PROGRESS BELGIUM
ActiveSummary
PROGRESS BELGIUM has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €151k and a net result of €2k. Equity is growing by ~23.4% per year across the filed fiscal years. Its solvency ranks better than 21% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▼-3
Solvency39=
Growth52=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity tight (current ratio 1.19 against 1.18 in 2024; short-term debt: 81.8% and cash: 27.5% of total assets), and 85.7% of the assets are financed with debt.
Credit check for your own amount and term
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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14.3%
Return on assets
0.2%
Age of the figures
9 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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 8048 sector peers (2025).
NBB · sector comparisonPosition among 8048 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-09-2026, 40 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
40 d late
2024
87 d early
2023
28 d late
2022
63 d early
2020
38 d early
2019
35 d early
2018
54 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€2k▼ 89.5%
2024 · €16k
2018: €18k
2019: €7k▼ -62.4% vs 2018
2020: €-139k▼ -2147% vs 2019lowest value
2022: €100khighest value
2023: €45k▼ -54.8% vs 2022
2024: €16k▼ -64.5% vs 2023
2025: €2k▼ -89.5% vs 2024
2018 → 2025
Working capital
€167k▲ 1.0%
2024 · €165k
2018: €-77k
2019: €-68k▲ +11.4% vs 2018
2020: €-209k▼ -207% vs 2019lowest value
2022: €50k
2023: €95k▲ +90.5% vs 2022
2024: €165k▲ +74.2% vs 2023
2025: €167k▲ +1.0% vs 2024highest value
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202022202320242025Trend
Equity€-171k-€88k€133k▲ 51.1%€149k▲ 12.0%€151k▲ 1.1%
2020: €-171klowest value
2022: €88k
2023: €133k▲ +51.1% vs 2022
2024: €149k▲ +12.0% vs 2023
2025: €151k▲ +1.1% vs 2024highest value
Operating result€-139k-€57k€145k▲ 156%€60k▼ 58.7%€-19k
2020: €-139klowest value
2022: €57k
2023: €145k▲ +156% vs 2022highest value
2024: €60k▼ -58.7% vs 2023
2025: €-19k▼ -132% vs 2024
Net result€-139k-€100k€45k▼ 54.8%€16k▼ 64.5%€2k▼ 89.5%
2020: €-139klowest value
2022: €100khighest value
2023: €45k▼ -54.8% vs 2022
2024: €16k▼ -64.5% vs 2023
2025: €2k▼ -89.5% vs 2024
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €19k after €60k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.06M
Fixed assets
€26k =
Current assets
€1.03M ▼ 2.8%
Equity and liabilities €1.06M
Equity
€151k ▲ 1.1%
Debt
€906k ▼ 3.4%
Debt's share of the balance-sheet total falls from 86.3% to 85.7%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
1.19▲
2024 · 1.18
Debt to equity
6.00▼
2024 · 6.28
ROE
1.1%▼
2024 · 10.7%
ROA
0.2%▼
2024 · 1.5%
Debt ≤ 1 year
€864k▼
2024 · €896k
Debt > 1 year
€42k=
2024 · €42k
Income taxes
€29k▲
2024 · €23k
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 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.09M€1.06M▼
Fixed assets21/28€26k€26k=
Financial fixed assets28€26k€26k=
Current assets29/58€1.06M€1.03M▼
Amounts receivable within one year40/41€1.06M€740k▼
Trade receivables40€1.04M€726k▼
Other amounts receivable41€14k€14k▲
Cash at bank and in hand54/58€6k€291k▲
Equity and liabilities
Total equity and liabilities10/49€1.09M€1.06M▼
Equity10/15€149k€151k▲
Contributions10/11€19k€19k=
Capital10€19k-
Issued capital100€19k-
Reserves13€2k€2k=
Non-distributable reserves130/1€2k-
Legal reserve130€2k-
Distributable reserves133-€2k
Profit (loss) carried forward14€129k€131k▲
Amounts payable17/49€938k€906k▼
Amounts payable after more than one year17€42k€42k=
Other amounts payable178/9€42k€42k=
Amounts payable within one year42/48€896k€864k▼
Trade debts44€52k-
Suppliers440/4€52k-
Other amounts payable47/48€844k€864k▲
Income statement
Code20242025
Remuneration, social security and pensions62€7k-
Other operating charges640/8€3k€6k▲
Non-recurring operating charges66A€30k-
Gross operating margin9900€100k€-13k▼
Operating profit (loss)9901€60k€-19k▼
Financial income75/76B€2k€53k▲
Recurring financial income75€2k€53k▲
Financial charges65/66B€23k€4k▼
Recurring financial charges65€23k€4k▼
Profit (loss) for the period before taxes9903€39k€30k▼
Income taxes67/77€23k€29k▲
Profit (loss) for the period9904€16k€2k▼
Profit (loss) for the period to be appropriated9905€16k€2k▼
Appropriation of the result
Profit (loss) to be appropriated9906€129k€131k▲
Profit (loss) brought forward from the previous period14P€113k€129k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €7k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €9 | - | - | - |
| Other operating charges640/8 | - | €2k | €9k | €3k | €6k | ▲ 113% |
| Non-recurring operating charges66A | - | €15k | €17k | €30k | - | - |
| Gross operating margin9900 | €-67k | €74k | €171k | €100k | €-13k | ▼ 113% |
| Operating profit (loss)9901 | €-139k | €57k | €145k | €60k | €-19k | ▼ 132% |
| Financial income75/76B | - | €74k | €22k | €2k | €53k | ▲ 2,296% |
| Recurring financial income75 | €183 | €74k | €22k | €2k | €53k | ▲ 2,296% |
| Financial charges65/66B | - | €29k | €122k | €23k | €4k | ▼ 84.1% |
| Recurring financial charges65 | €429 | €29k | €122k | €23k | €4k | ▼ 84.1% |
| Non-recurring financial charges66B | - | €0 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €-139k | €102k | €45k | €39k | €30k | ▼ 22.5% |
| Income taxes67/77 | - | €2k | - | €23k | €29k | ▲ 23.9% |
| Profit (loss) for the period9904 | €-139k | €100k | €45k | €16k | €2k | ▼ 89.5% |
| Profit (loss) for the period to be appropriated9905 | €-139k | €100k | €45k | €16k | €2k | ▼ 89.5% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €250k | €571k | €599k | €1.09M | €1.06M | ▼ 2.8% |
| Fixed assets21/28 | €39k | €38k | €38k | €26k | €26k | = |
| Tangible fixed assets22/27 | €752 | €9 | - | - | - | - |
| Furniture and vehicles24 | - | €9 | - | - | - | - |
| Financial fixed assets28 | €38k | €38k | €38k | €26k | €26k | = |
| Current assets29/58 | €211k | €533k | €561k | €1.06M | €1.03M | ▼ 2.8% |
| Amounts receivable after more than one year29 | - | €11k | €8k | - | - | - |
| Other amounts receivable291 | - | €11k | €8k | - | - | - |
| Amounts receivable within one year40/41 | €192k | €516k | €543k | €1.06M | €740k | ▼ 29.8% |
| Trade receivables40 | - | €476k | €530k | €1.04M | €726k | ▼ 30.3% |
| Other amounts receivable41 | - | €40k | €14k | €14k | €14k | ▲ 3.3% |
| Cash at bank and in hand54/58 | €4k | €6k | €10k | €6k | €291k | ▲ 4,593% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €250k | €571k | €599k | €1.09M | €1.06M | ▼ 2.8% |
| Equity10/15 | €-171k | €88k | €133k | €149k | €151k | ▲ 1.1% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | - | €19k | €19k | €19k | - | - |
| Issued capital100 | - | €19k | €19k | €19k | - | - |
| Reserves13 | €912 | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | - | - |
| Legal reserve130 | - | €2k | €2k | €2k | - | - |
| Distributable reserves133 | - | - | - | - | €2k | - |
| Profit (loss) carried forward14 | €-190k | €68k | €113k | €129k | €131k | ▲ 1.3% |
| Amounts payable17/49 | €420k | €483k | €466k | €938k | €906k | ▼ 3.4% |
| Amounts payable after more than one year17 | €1k | - | - | €42k | €42k | = |
| Other amounts payable178/9 | - | - | - | €42k | €42k | = |
| Amounts payable within one year42/48 | €419k | €483k | €466k | €896k | €864k | ▼ 3.5% |
| Trade debts44 | €27k | €127k | €22k | €52k | - | - |
| Suppliers440/4 | - | €127k | €22k | €52k | - | - |
| Taxes, remuneration and social security45 | - | €48k | €27k | - | - | - |
| Taxes450/3 | - | €23k | €635 | - | - | - |
| Remuneration and social security454/9 | - | €26k | €26k | - | - | - |
| Other amounts payable47/48 | - | €308k | €417k | €844k | €864k | ▲ 2.4% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-139k | €100k | €45k | €16k | €2k | ▼ 89.5% |
| + Depreciation and write-downs630 | - | - | €9 | - | - | - |
| Operating cash flow (approximation) | €-139k | €100k | €45k | €16k | €2k | ▼ 89.5% |
| Investment in fixed assets (approximation) | - | - | €0 | €13k | €0 | ▼ 100% |
| Change in cash | - | - | €4k | €-4k | €285k | ▲ 7,489% |
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
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 40 days late
2025
31-12
Financial
Equity above €150kEq €151k ▲1.1%
4 profitable years in a row build equity to €151k.
05-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
31-12
Financial
Equity above €100kEq €133k ▲51.1%
2 profitable years in a row build equity to €133k.
29-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €100k
Net result €100k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.10
Current ratio from 0.50 to 1.10.
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-139k
Net result drops to €-139k, the lowest in the series; recovery starts the following year.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
23-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 54 days late
Show earlier events
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 57 days late
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Elsene · 1 establishment unit since 2013
Ground area
147 m²
Building footprint
117 m²
Volume, LiDAR
1,941 m³
Parcel 21442A0138/00N006, Brussels · tallest building 21.6 m, ±6 floors. Linked by address, not a title deed.
34
companies at this address
See who is registered here
1 establishment unit
PROGRESS BELGIUM
since 20132.216.587.580
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21442A0138/00N006 | Brussels | 147 m² | 1 · 117 m² | 21.6 m · 6 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 2,503 companies in sector 46649 we hold annual accounts for 1,755. 1,186 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
Founded22-01-2013
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
Contact
Website
www.progress-belgium.be
E-mail
info@progress-belgium.be
Scores and ratios are computed by Checked and are not a credit decision.