Improve-it
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 02-06-2026 PDF all 6 filings
Turnover
≈ €120,000
Estimated: probably between €110,000 and €160,000
Total assets
€60,403▲ 12.0%
2024 · €53,954
Net result
€48,770▲ 15.6%
2024 · €42,187
Working capital
€2,303▲ 946%
2024 · €220
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€62,053
▲ 15.2%
2025
20202025
Net result
€48,770
▲ 15.6%
2025
middle half of the sector
20202025
Equity
€5,000
=
2025
lowest quarter of the sector
20202025
Total assets
€60,403
▲ 12.0%
2025
lowest quarter of the sector
20202025
Debt
€55,403
▲ 13.2%
2025
20202025
Working capital
€2,303
▲ 946%
2025
lowest quarter of the sector
20202025
Solvency
8.3%
▼ 1.0pp
2025
lowest quarter of the sector
20202025
Current ratio
1.04
▲ 0.04
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
80.7%
▲ 2.6pp
2025
highest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€55,683-€39,116▼ 29.8%€32,419▼ 17.1%€42,234▲ 30.3%€53,869▲ 27.6%€62,053▲ 15.2%
Net result€43,831above the sector's middle half-€30,279within the sector's middle half▼ 30.9%€15,833within the sector's middle half▼ 47.7%€39,517within the sector's middle half▲ 150%€42,187within the sector's middle half▲ 6.8%€48,770within the sector's middle half▲ 15.6%
Equity€48,031within the sector's middle half-€77,510within the sector's middle half▲ 61.4%€93,343within the sector's middle half▲ 20.4%€5,000below the sector's middle half▼ 94.6%€5,000below the sector's middle half=€5,000below the sector's middle half=
Total assets€63,570below the sector's middle half-€91,012within the sector's middle half▲ 43.2%€110,773within the sector's middle half▲ 21.7%€58,858below the sector's middle half▼ 46.9%€53,954below the sector's middle half▼ 8.3%€60,403below the sector's middle half▲ 12.0%
Debt€15,539-€13,502▼ 13.1%€17,430▲ 29.1%€53,858▲ 209%€48,954▼ 9.1%€55,403▲ 13.2%
Working capital€45,795within the sector's middle half-€75,713within the sector's middle half▲ 65.3%€89,802within the sector's middle half▲ 18.6%€2,147below the sector's middle half▼ 97.6%€220below the sector's middle half▼ 89.7%€2,303below the sector's middle half▲ 946%
Solvency75.6%within the sector's middle half-85.2%above the sector's middle half▲ 9.6pp84.3%above the sector's middle half▼ 0.9pp8.5%below the sector's middle half▼ 75.8pp9.3%below the sector's middle half▲ 0.8pp8.3%below the sector's middle half▼ 1.0pp
Current ratio3.95within the sector's middle half-6.61above the sector's middle half▲ 2.666.15above the sector's middle half▼ 0.461.04below the sector's middle half▼ 5.111.00below the sector's middle half▼ 0.041.04below the sector's middle half▲ 0.04
Return on assets (ROA)68.9%above the sector's middle half-33.3%above the sector's middle half▼ 35.7pp14.3%within the sector's middle half▼ 19.0pp67.1%above the sector's middle half▲ 52.8pp78.2%above the sector's middle half▲ 11.1pp80.7%above the sector's middle half▲ 2.6pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 operating result for 2025 is 15% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €60,403
Fixed assets
€2,697 ▼ 43.6%
Current assets
€57,706 ▲ 17.4%
Equity and liabilities €60,403
Equity
€5,000 =
Debt
€55,403 ▲ 13.2%
Debt's share of the balance-sheet total rises from 90.7% to 91.7%. Debt is higher.
Key figures and ratios
EBITDA
€64,136▲
2024 · €54,952
Cash flow
€50,853▲
2024 · €43,270
Debt to equity
11.08▲
2024 · 9.79
ROE
975.4%▲
2024 · 843.7%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€55,403▲
2024 · €48,954
Income taxes
€13,169▲
2024 · €11,443
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €2,240 | - | €3,010 | - |
| Depreciation and write-downs of the year | €439 | €496 | €688 | €1,083 | €2,083 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,884 | €439 | €496 | €688 | €1,083 | €2,083 | ▲ 92.4% |
| Other operating charges640/8 | - | €229 | €264 | €397 | €297 | €303 | ▲ 2.2% |
| Gross operating margin9900 | €58,065 | €39,784 | €33,178 | €43,319 | €55,249 | €64,439 | ▲ 16.6% |
| Operating profit (loss)9901 | €55,683 | €39,116 | €32,419 | €42,234 | €53,869 | €62,053 | ▲ 15.2% |
| Financial income75/76B | - | €0 | €5,506 | €608 | €0 | - | - |
| Recurring financial income75 | €0 | €0 | €5,506 | €608 | €0 | - | - |
| Financial charges65/66B | - | €249 | €12,655 | -€5,722 | €240 | €113 | ▼ 52.8% |
| Recurring financial charges65 | €352 | €249 | €12,655 | -€5,722 | €240 | €113 | ▼ 52.8% |
| Profit (loss) for the period before taxes9903 | €55,332 | €38,867 | €25,270 | €48,564 | €53,630 | €61,939 | ▲ 15.5% |
| Income taxes67/77 | €11,500 | €8,588 | €9,437 | €9,046 | €11,443 | €13,169 | ▲ 15.1% |
| Profit (loss) for the period9904 | €43,831 | €30,279 | €15,833 | €39,517 | €42,187 | €48,770 | ▲ 15.6% |
| Profit (loss) for the period to be appropriated9905 | €43,831 | €30,279 | €15,833 | €39,517 | €42,187 | €48,770 | ▲ 15.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €63,570 | €91,012 | €110,773 | €58,858 | €53,954 | €60,403 | ▲ 12.0% |
| Fixed assets21/28 | €2,236 | €1,797 | €3,541 | €2,853 | €4,780 | €2,697 | ▼ 43.6% |
| Tangible fixed assets22/27 | €2,086 | €1,647 | €3,391 | €2,703 | €4,630 | €2,547 | ▼ 45.0% |
| Furniture and vehicles24 | - | €1,647 | €1,208 | €769 | €2,945 | €1,110 | ▼ 62.3% |
| Other tangible fixed assets26 | - | - | €2,183 | €1,934 | €1,685 | €1,436 | ▼ 14.8% |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €61,334 | €89,215 | €107,232 | €56,005 | €49,174 | €57,706 | ▲ 17.4% |
| Amounts receivable within one year40/41 | €19,949 | €11,010 | €14,143 | €14,236 | €13,806 | €10,862 | ▼ 21.3% |
| Trade receivables40 | - | €11,010 | €14,143 | €14,236 | €13,749 | €10,862 | ▼ 21.0% |
| Other amounts receivable41 | - | - | - | - | €57 | - | - |
| Current investments50/53 | - | - | €58,358 | - | - | - | - |
| Cash at bank and in hand54/58 | €39,614 | €76,412 | €32,596 | €39,257 | €33,160 | €44,621 | ▲ 34.6% |
| Deferred charges and accrued income490/1 | - | €1,793 | €2,136 | €2,512 | €2,207 | €2,223 | ▲ 0.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €63,570 | €91,012 | €110,773 | €58,858 | €53,954 | €60,403 | ▲ 12.0% |
| Equity10/15 | €48,031 | €77,510 | €93,343 | €5,000 | €5,000 | €5,000 | = |
| Contributions10/11 | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €43,031 | €72,510 | €88,343 | - | - | - | - |
| Distributable reserves133 | - | €72,510 | €88,343 | - | - | - | - |
| Amounts payable17/49 | €15,539 | €13,502 | €17,430 | €53,858 | €48,954 | €55,403 | ▲ 13.2% |
| Amounts payable within one year42/48 | €15,539 | €13,502 | €17,430 | €53,858 | €48,954 | €55,403 | ▲ 13.2% |
| Trade debts44 | €2,391 | €982 | €1,366 | €1,260 | €770 | €912 | ▲ 18.5% |
| Suppliers440/4 | - | €982 | €1,366 | €1,260 | €770 | €912 | ▲ 18.5% |
| Taxes, remuneration and social security45 | - | €10,755 | €12,467 | €9,131 | €4,728 | €4,334 | ▼ 8.3% |
| Taxes450/3 | - | €10,755 | €12,467 | €9,131 | €4,728 | €4,334 | ▼ 8.3% |
| Other amounts payable47/48 | - | €1,765 | €3,598 | €43,467 | €43,456 | €50,156 | ▲ 15.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,831 | €30,279 | €15,833 | €39,517 | €42,187 | €48,770 | ▲ 15.6% |
| + Depreciation and write-downs630 | €1,884 | €439 | €496 | €688 | €1,083 | €2,083 | ▲ 92.4% |
| Operating cash flow (approximation) | €45,716 | €30,718 | €16,329 | €40,205 | €43,270 | €50,853 | ▲ 17.5% |
| Investment in fixed assets (approximation) | - | €0 | -€2,240 | €0 | -€3,010 | €0 | - |
| Change in cash | - | €36,798 | -€43,816 | €6,661 | -€6,097 | €11,461 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,153 companies had the same profile as Improve-it has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
The bankruptcy probability of Improve-it itself is lower: 0.1% within 12 months. It rests on far more data about Improve-it 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 2,153 companies, not a prediction for Improve-it. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-06-2026 | 2026-00132145 | |
| 31-12-2024 | micro format | 02-06-2025 | 2025-00113406 | |
| 31-12-2023 | micro format | 21-05-2024 | 2024-00091448 | |
| 31-12-2022 | micro format | 25-05-2023 | 2023-00094195 | |
| 31-12-2021 | micro format | 24-05-2022 | 2022-20032847 | |
| 31-12-2020 | micro format | 25-05-2021 | 2021-14900484 |