A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
Are you letting Excel control the recalculating? That is, is the calculation mode set to Automatic?
If it is, then this is very difficult to do because while we can tell when calculating starts, there's nothing to tell us when it is done.
But if you have the workbooks calculation mode set to manual and are using a macro to have the recalculation done, then you could probably do it with a UserForm shown in non-modal state. Note that using a macro is not the same as pressing [F9] or [Shift]+[F9].
And if you are using a macro, then you might speed it up enough to not need the message or form by adding one line of code before you start the .Calculate operation:
Application.ScreenUpdating = False
that one line of code can sometimes improve performance dramatically. You don't even have to worry about setting it back to = True because Excel will do that when it gets to the End Sub statement or otherwise exits the macro.