PROGRESS CONSULTING
ActiveSummary
PROGRESS CONSULTING has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €746,611 and a net result of €129,035. Equity has been growing by about 14% per year since 2022. Its solvency ranks better than 25% of 10,798 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 23-12-2021 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2025
- Establishment unit
- 2.326.115.824 4000 Liège, since 01-01-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 27-08-2025
Board and ownership
- C com SRLDirector · since 23-12-2021
- ILYAS SRLDirector · since 23-12-2021
- SEVEN ScommDirector · since 23-12-2021
- Holdings
- Shares in 1 company AMPERSANDT
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €695,884
- ▲ 6.1%
- Turnover
- ≈ €1.1m
- estimated
- Profit
- €129,035
- ▲ 38.2%
- Equity
- €746,611
- ▲ 20.9%
- Total assets
- €3.2m
- ▲ 2.2%
- Employees on 31-12-2025
- 6
- ▲ 20.0%
- 2025 accounts filed 12 days after the deadline
Score breakdownraises riskLiquidity: current ratio 1.78, cash €167,100lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Figures for financial year 2025 (filed on 12-08-2026)Size: 3.5 FTE, total assets €3.2mShow the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 70, micro). It does better than 26% of them on solvency, 18% on liquidity, 38% on profitability and 67% on growth.
The bankruptcy probability was computed on 01-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 5 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 12 days after the deadline Filed on 12 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00394403.
Annual accounts 2025 filed on 12-08-2026 at the NBB all 4 filings
2022 to 2025, 4 financial years
The operating result for 2025 is 29% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 8 | 5 | 5 | 6 |
| full-time | 4 | 4 | 4 | 2 |
| part-time | 4 | 1 | 1 | 4 |
| in full-time equivalents | 4.5 | 4.1 | 4.5 | 2.9 |
| Average over the year, in full-time equivalents | 5.3 | 4.1 | 4.1 | 3.5 |
| On a permanent contract | 4 | 3 | 4 | 2 |
| Joined | 22 | 9 | 5 | 10 |
| Left | 14 | 12 | 5 | 9 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €38,684 | €6,872 | - | €4,459 |
| Intangible fixed assets | €2.0m | €10,236 | - | €14,446 |
| Financial fixed assets | €30,000 | €22,160 | - | - |
| Depreciation and write-downs of the year | €299,641 | €311,757 | €311,757 | €308,520 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Public contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Comparable companies
These companies have the same main activity as PROGRESS CONSULTING: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €1.9m and €4.7m, founded between 2019 and 2022.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| PROGRESS CONSULTING Liège | 2021 | €3.2m | €0.7m | €0.7m | - | €0.1m | 3.5 | 2025 |
| PHYTOSYSTEM Kortrijk | 2021 | €3.0m | €1.3m | €0.6m | - | €0.2m | 2.3 | 2025 |
| Eight Advisory Tax Belgium Brussel | 2021 | €2.4m | €0.1m | €1.1m | - | €0.5m | 3.5 | 2024 |
| TEKsystems Global Services (Belgium) Brussel | 2022 | €1.9m | -€0.6m | €0.6m | €5.4m | -€0.09m | 4.4 | 2024 |
| ARDENT BUILD Liège | 2019 | €4.7m | -€0.7m | €0.4m | - | -€0.7m | 4.8 | 2025 |
| BRP CONSULT Herve | 2021 | €2.4m | €1.0m | €0.4m | - | €0.4m | 2.6 | 2025 |
| THE HUB GROUP Antwerpen | 2022 | €1.9m | €0.2m | €0.6m | - | €0.08m | 2.5 | 2025 |
They were chosen from the 54,693 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 2,542 companies had the same profile as PROGRESS CONSULTING has now. Two years later, 3.5% had gone bankrupt and 94.9% were still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of PROGRESS CONSULTING itself is lower: 0.1% within 12 months. It rests on far more data about PROGRESS CONSULTING than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,542 companies, not a prediction for PROGRESS CONSULTING. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €343,611 | €267,821 | €172,069 | €164,195 | ▼ 4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €299,641 | €311,757 | €311,757 | €308,520 | ▼ 1.0% |
| Other operating charges640/8 | €18,664 | €3,241 | €1,213 | €3,536 | ▲ 192% |
| Gross operating margin9900 | €866,347 | €571,351 | €655,918 | €695,884 | ▲ 6.1% |
| Operating profit (loss)9901 | €204,430 | -€11,467 | €170,879 | €219,633 | ▲ 28.5% |
| Financial charges65/66B | €6,571 | €9,029 | €30,862 | €24,873 | ▼ 19.4% |
| Recurring financial charges65 | €6,571 | €9,029 | €30,862 | €24,873 | ▼ 19.4% |
| Profit (loss) for the period before taxes9903 | €197,859 | -€20,496 | €140,017 | €194,760 | ▲ 39.1% |
| Income taxes67/77 | €67,581 | €553 | €46,671 | €65,724 | ▲ 40.8% |
| Profit (loss) for the period9904 | €130,278 | -€21,049 | €93,346 | €129,035 | ▲ 38.2% |
| Profit (loss) for the period to be appropriated9905 | €130,278 | -€21,049 | €93,346 | €129,035 | ▲ 38.2% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €3.3m | €3.3m | €3.1m | €3.2m | ▲ 2.2% |
| Fixed assets21/28 | €1.8m | €1.5m | €1.2m | €0.9m | ▼ 23.8% |
| Intangible fixed assets21 | €1.7m | €1.5m | €1.2m | €0.9m | ▼ 24.8% |
| Tangible fixed assets22/27 | €0.03m | €0.02m | €0.01m | €0.009m | ▼ 28.6% |
| Furniture and vehicles24 | €0.02m | €0.02m | €0.009m | €0.007m | ▼ 23.5% |
| Other tangible fixed assets26 | €0.006m | €0.005m | €0.003m | €0.002m | ▼ 43.7% |
| Financial fixed assets28 | €0.03m | €0.05m | €0.05m | €0.05m | = |
| Current assets29/58 | €1.5m | €1.8m | €1.9m | €2.3m | ▲ 19.0% |
| Amounts receivable within one year40/41 | €1.4m | €1.6m | €1.6m | €2.1m | ▲ 28.0% |
| Trade receivables40 | €1.3m | €1.5m | €1.6m | €2.1m | ▲ 31.8% |
| Other amounts receivable41 | €0.04m | €0.1m | €0.06m | €0.01m | ▼ 77.8% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.3m | €0.2m | ▼ 35.9% |
| Deferred charges and accrued income490/1 | €392 | €0.008m | €0.009m | €0.007m | ▼ 18.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €3.3m | €3.3m | €3.1m | €3.2m | ▲ 2.2% |
| Equity10/15 | €0.5m | €0.5m | €0.6m | €0.7m | ▲ 20.9% |
| Contributions10/11 | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 64.5% |
| Distributable reserves133 | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 64.5% |
| Profit (loss) carried forward14 | €278 | -€0.02m | €0.003m | €0.003m | ▲ 1.4% |
| Amounts payable17/49 | €2.8m | €2.8m | €2.5m | €2.4m | ▼ 2.4% |
| Amounts payable after more than one year17 | €2.0m | €1.7m | €1.4m | €1.2m | ▼ 16.9% |
| Trade debts175 | €2.0m | €1.7m | €1.4m | €1.2m | ▼ 16.9% |
| Amounts payable within one year42/48 | €0.7m | €1.1m | €1.1m | €1.3m | ▲ 16.5% |
| Financial debts43 | - | €0.4m | €0.4m | €0.4m | = |
| Credit institutions430/8 | - | €0.4m | €0.4m | €0.4m | = |
| Trade debts44 | €0.6m | €0.6m | €0.6m | €0.7m | ▲ 23.1% |
| Suppliers440/4 | €0.6m | €0.6m | €0.6m | €0.7m | ▲ 23.1% |
| Advances received on contracts in progress46 | - | - | €0.003m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €0.2m | €0.06m | €0.08m | €0.1m | ▲ 52.1% |
| Taxes450/3 | €0.09m | €0.01m | €0.05m | €0.1m | ▲ 83.7% |
| Remuneration and social security454/9 | €0.08m | €0.05m | €0.03m | €0.03m | ▼ 4.0% |
| Other amounts payable47/48 | €0 | €446 | €480 | €0.002m | ▲ 330% |
| Accrued charges and deferred income492/3 | €0.1m | €0 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €130,278 | -€21,049 | €93,346 | €129,035 | ▲ 38.2% |
| + Depreciation and write-downs630 | €299,641 | €311,757 | €311,757 | €308,520 | ▼ 1.0% |
| Operating cash flow (approximation) | €429,919 | €290,708 | €405,104 | €437,556 | ▲ 8.0% |
| Investment in fixed assets (approximation) | - | -€39,269 | €0 | -€18,905 | - |
| Change in cash | - | €60,454 | €78,013 | -€93,403 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Board 4
Permanent representatives 1
Owners and capital
Owners
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| C com SRL |
|
| ILYAS SRL |
|
| SEVEN Scomm |
|
| MISTY CLIFFS |
|
| SDR MANAGEMENT CONSULTING |
|
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- AMPERSANDTsubsidiarySourceown accounts 2025Equity €29,627 Profit of €20,758 in 2025 (loss of €9,203 in 2024) Checked score 95100%
Companies at the same address
1 other companyConnections & network
4 current directorsThe network starts from the directors of PROGRESS CONSULTING. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
21-10
Gazette deed
Resignation: SDR MANAGEMENT CONSULTING (director)Appointment: MISTY CLIFFS (director)3 points ▸
- General meeting, 30-06-2026
- Director resignation, SDR MANAGEMENT CONSULTING (director)
- Director appointment, MISTY CLIFFS (director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62802D0065/02G000 | Wallonia | 399 m² | 1 · 111 m² | 11.0 m · 3 |