WORK IN PROGRESS
ActiveSummary
WORK IN PROGRESS has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €118,007 and a net result of €5,845. Equity is growing by ~16.3% per year across the filed fiscal years. Its solvency ranks better than 57% of 37965 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73▼-5
Solvency90▲+15
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days only on tighter terms
Liquidity ample (current ratio 2.16 against 1.88 in 2023; short-term debt: 23.6% and cash: 47.1% of total assets), and 34.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
65.2%
Return on assets
3.2%
Age of the figures
24 mo
raises risk · Annual accounts not filed
The financial year that closed on 30-09-2025 was due at the National Bank by 30-04-2026. Nothing is on record, 152 days later.
NBB · 10 filingsPosition against the passed deadline
30-09-2025 close30-04-2026 deadline29-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 30-04-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
on the day
2023
on the day
2022
5 d early
2021
33 d early
2020
11 d early
2019
41 d early
← 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 15 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€118,007▲ 5.2%
2023 · €112,162
Total assets
€180,876▼ 18.6%
2023 · €222,252
Net result
€5,845▼ 64.9%
2023 · €16,629
Working capital
€49,293▼ 6.6%
2023 · €52,802
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€22,071▼ 1.3%€20,972▼ 5.0%€16,322▼ 22.2%€24,488▲ 50.0%€10,058▼ 58.9%
Net result€16,054within the sector's middle half▼ 11.8%€14,072within the sector's middle half▼ 12.3%€10,777within the sector's middle half▼ 23.4%€16,629within the sector's middle half▲ 54.3%€5,845within the sector's middle half▼ 64.9%
Equity€70,684within the sector's middle half▲ 29.4%€84,756within the sector's middle half▲ 19.9%€95,533within the sector's middle half▲ 12.7%€112,162within the sector's middle half▲ 17.4%€118,007within the sector's middle half▲ 5.2%
Total assets€242,925within the sector's middle half▼ 5.7%€240,374within the sector's middle half▼ 1.1%€214,958within the sector's middle half▼ 10.6%€222,252within the sector's middle half▲ 3.4%€180,876within the sector's middle half▼ 18.6%
Debt€172,241▼ 15.1%€155,617▼ 9.7%€119,425▼ 23.3%€110,090▼ 7.8%€62,870▼ 42.9%
Working capital€47,962within the sector's middle half▲ 18.9%€52,463within the sector's middle half▲ 9.4%€45,777within the sector's middle half▼ 12.7%€52,802within the sector's middle half▲ 15.3%€49,293within the sector's middle half▼ 6.6%
Solvency29.1%within the sector's middle half▲ 7.9pp35.3%within the sector's middle half▲ 6.2pp44.4%within the sector's middle half▲ 9.2pp50.5%within the sector's middle half▲ 6.0pp65.2%within the sector's middle half▲ 14.8pp
Current ratio2.34within the sector's middle half▲ 0.282.27within the sector's middle half▼ 0.072.14within the sector's middle half▼ 0.131.88within the sector's middle half▼ 0.262.16within the sector's middle half▲ 0.28
Return on assets (ROA)6.6%within the sector's middle half▼ 0.5pp5.9%within the sector's middle half▼ 0.8pp5.0%within the sector's middle half▼ 0.8pp7.5%within the sector's middle half▲ 2.5pp3.2%within the sector's middle half▼ 4.3pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 59% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €180,876
Fixed assets
€88,905 ▼ 18.7%
Current assets
€91,971 ▼ 18.5%
Equity and liabilities €180,876
Equity
€118,007 ▲ 5.2%
Debt
€62,870 ▼ 42.9%
Debt's share of the balance-sheet total falls from 49.5% to 34.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€30,555▼
2023 · €45,519
Cash flow
€26,343▼
2023 · €37,660
Debt to equity
0.53▼
2023 · 0.98
ROE
5.0%▼
2023 · 14.8%
Interest coverage
19.28▼
2023 · 23.27
Debt ≤ 1 year
€42,678▼
2023 · €60,047
Debt > 1 year
€20,192▼
2023 · €50,044
Income taxes
€2,628▼
2023 · €5,903
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,039 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,660 | €20,542 | €20,802 | €21,032 | €20,498 | ▼ 2.5% |
| Other operating charges640/8 | - | - | €2,573 | €2,824 | €2,915 | ▲ 3.2% |
| Gross operating margin9900 | €45,182 | €44,016 | €39,696 | €48,343 | €33,470 | ▼ 30.8% |
| Operating profit (loss)9901 | €22,071 | €20,972 | €16,322 | €24,488 | €10,058 | ▼ 58.9% |
| Financial income75/76B | - | - | - | €1 | €0 | ▼ 75.0% |
| Recurring financial income75 | €72 | €0 | - | €1 | €0 | ▼ 75.0% |
| Non-recurring financial income76B | - | - | - | €1 | €0 | ▼ 75.0% |
| Financial charges65/66B | - | - | €2,459 | €1,956 | €1,585 | ▼ 19.0% |
| Recurring financial charges65 | €3,429 | €2,919 | €2,459 | €1,956 | €1,585 | ▼ 19.0% |
| Profit (loss) for the period before taxes9903 | €18,714 | €18,052 | €13,862 | €22,532 | €8,473 | ▼ 62.4% |
| Income taxes67/77 | €2,660 | €3,980 | €3,086 | €5,903 | €2,628 | ▼ 55.5% |
| Profit (loss) for the period9904 | €16,054 | €14,072 | €10,777 | €16,629 | €5,845 | ▼ 64.9% |
| Profit (loss) for the period to be appropriated9905 | €16,054 | €14,072 | €10,777 | €16,629 | €5,845 | ▼ 64.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €242,925 | €240,374 | €214,958 | €222,252 | €180,876 | ▼ 18.6% |
| Fixed assets21/28 | €159,262 | €146,577 | €129,135 | €109,403 | €88,905 | ▼ 18.7% |
| Tangible fixed assets22/27 | €159,262 | €146,577 | €129,135 | €109,403 | €88,905 | ▼ 18.7% |
| Land and buildings22 | - | - | €2,102 | €1,831 | €1,559 | ▼ 14.8% |
| Plant, machinery and equipment23 | - | - | €4,384 | €3,595 | €2,805 | ▼ 22.0% |
| Furniture and vehicles24 | - | - | €1,068 | €1,222 | €611 | ▼ 50.0% |
| Leasing and similar rights25 | - | - | €121,580 | €102,755 | €83,929 | ▼ 18.3% |
| Current assets29/58 | €83,663 | €93,797 | €85,823 | €112,849 | €91,971 | ▼ 18.5% |
| Amounts receivable within one year40/41 | €17,170 | €40,418 | €18,696 | €20,174 | €4,899 | ▼ 75.7% |
| Trade receivables40 | - | - | €12,962 | €18,713 | €4,464 | ▼ 76.1% |
| Other amounts receivable41 | - | - | €5,734 | €1,461 | €435 | ▼ 70.2% |
| Cash at bank and in hand54/58 | €61,010 | €47,628 | €61,204 | €86,936 | €85,274 | ▼ 1.9% |
| Deferred charges and accrued income490/1 | - | - | €5,922 | €5,739 | €1,799 | ▼ 68.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €242,925 | €240,374 | €214,958 | €222,252 | €180,876 | ▼ 18.6% |
| Equity10/15 | €70,684 | €84,756 | €95,533 | €112,162 | €118,007 | ▲ 5.2% |
| Contributions10/11 | - | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €36,360 | €36,360 | €36,360 | €36,360 | €42,205 | ▲ 16.1% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | €34,500 | €34,500 | €40,345 | ▲ 16.9% |
| Profit (loss) carried forward14 | €15,724 | €29,796 | €40,573 | €57,202 | €57,202 | = |
| Amounts payable17/49 | €172,241 | €155,617 | €119,425 | €110,090 | €62,870 | ▼ 42.9% |
| Amounts payable after more than one year17 | €136,540 | €108,209 | €79,380 | €50,044 | €20,192 | ▼ 59.7% |
| Financial debts170/4 | - | - | €79,380 | €50,044 | €20,192 | ▼ 59.7% |
| Amounts payable within one year42/48 | €35,701 | €41,333 | €40,046 | €60,047 | €42,678 | ▼ 28.9% |
| Current portion of amounts payable after more than one year42 | - | - | €28,829 | €29,339 | €29,859 | ▲ 1.8% |
| Financial debts43 | - | - | - | - | €1,125 | - |
| Credit institutions430/8 | - | - | - | - | €1,125 | - |
| Trade debts44 | €3,794 | €6,736 | €4,179 | €17,525 | €6,915 | ▼ 60.5% |
| Suppliers440/4 | - | - | €4,179 | €17,525 | €6,915 | ▼ 60.5% |
| Taxes, remuneration and social security45 | - | - | €4,024 | €5,903 | - | - |
| Taxes450/3 | - | - | €4,024 | €5,903 | - | - |
| Other amounts payable47/48 | - | - | €3,014 | €7,279 | €4,779 | ▼ 34.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,054 | €14,072 | €10,777 | €16,629 | €5,845 | ▼ 64.9% |
| + Depreciation and write-downs630 | €20,660 | €20,542 | €20,802 | €21,032 | €20,498 | ▼ 2.5% |
| Operating cash flow (approximation) | €36,714 | €34,614 | €31,578 | €37,660 | €26,343 | ▼ 30.1% |
| Investment in fixed assets (approximation) | - | -€7,857 | -€3,360 | -€1,299 | €0 | ▲ 100% |
| Change in cash | - | -€13,382 | €13,576 | €25,732 | -€1,662 | ▼ 106% |
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
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Weakest financial yearnet €5,845 ▼64.9%
Net result drops to €5,845, the lowest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Equity above €100,000Eq €112,162 ▲17.4%
6 profitable years in a row build equity to €112,162.
25-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
20-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Highest result since 2018net €18,204 ▲46%
Net result €18,204, the highest in the series.
21-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
25-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Grimbergen · 1 establishment unit since 2003
Ground area
1,070 m²
Building footprint
200 m²
Volume, LiDAR
985 m³
Parcel 23036B0349/00D000, Flanders · tallest building 9.8 m, ±1 floor. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
WORK IN PROGRESS
since 20032.133.672.475
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23036B0349/00D000 | Flanders | 1,070 m² | 1 · 200 m² | 9.8 m · 1 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 82,646 companies in sector 70200 we hold annual accounts for 52,627. 40,865 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
Founded03-10-2003
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
73200Market research and public opinion polling
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0860855697
Also
9925:BE0860855697
Registered
26-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.