IMPROVE IT
ActiveSummary
IMPROVE IT has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.06M and a net result of €284k. Equity is growing by ~29.1% per year across the filed fiscal years. Its solvency ranks better than 57% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+6
Solvency75=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity ample (current ratio 1.68 against 1.74 in 2024; short-term debt: 39.6% and cash: 0.4% of total assets), but 50% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
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
50%
Return on assets
13.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
21 d early
2023
28 d late
2022
58 d late
2021
18 d early
2020
61 d late
2019
15 d early
← 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
Equity
€1.06M▲ 36.5%
2024 · €778k
Total assets
€2.13M▲ 37.6%
2024 · €1.54M
Net result
€284k▲ 131%
2024 · €123k
Working capital
€570k▲ 41.4%
2024 · €403k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€248k▲ 563%€105k▼ 57.6%€151k▲ 43.3%€116k▼ 23.3%€399k▲ 244%
Net result€195k▲ 454%€88k▼ 54.8%€125k▲ 42.5%€123k▼ 2.0%€284k▲ 131%
Equity€442k▲ 78.5%€530k▲ 19.9%€656k▲ 23.6%€778k▲ 18.7%€1.06M▲ 36.5%
Total assets€1.44M▲ 28.5%€1.36M▼ 5.3%€1.54M▲ 13.2%€1.54M▲ 0.1%€2.13M▲ 37.6%
Debt€997k▲ 14.3%€833k▼ 16.5%€888k▲ 6.6%€766k▼ 13.7%€1.06M▲ 38.8%
Working capital€192k▲ 74.4%€242k▲ 26.1%€345k▲ 42.4%€403k▲ 16.8%€570k▲ 41.4%
Staff (FTE)8.1▲ 12.5%8.5▲ 4.9%8.2▼ 3.5%8.9▲ 8.5%8.4▼ 5.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 244% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.13M
Fixed assets
€712k ▲ 20.2%
Current assets
€1.41M ▲ 48.5%
Equity and liabilities €2.13M
Equity
€1.06M ▲ 36.5%
Debt
€1.06M ▲ 38.8%
Debt's share of the balance-sheet total rises from 49.6% to 50.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€479k▲
2024 · €169k
Cash flow
€364k▲
2024 · €176k
Current ratio
1.68▼
2024 · 1.74
Debt to equity
1.00▲
2024 · 0.98
ROE
26.7%▲
2024 · 15.8%
ROA
13.4%▲
2024 · 8.0%
Interest coverage
50.56▲
2024 · 18.95
Debt ≤ 1 year
€842k▲
2024 · €548k
Debt > 1 year
€220k▲
2024 · €218k
Income taxes
€114k▲
2024 · €54k
Staff costs
€574k▲
2024 · €568k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €352 | €0 | - | €8k | €735k | ▲ 8,799% |
| Remuneration, social security and pensions62 | €482k | €437k | €510k | €568k | €574k | ▲ 1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €48k | €54k | €52k | €53k | €80k | ▲ 51.2% |
| Other operating charges640/8 | €9k | €7k | €9k | €10k | €12k | ▲ 20.4% |
| Non-recurring operating charges66A | €5k | €0 | - | - | - | - |
| Gross operating margin9900 | €792k | €603k | €723k | €746k | €1.06M | ▲ 42.6% |
| Operating profit (loss)9901 | €248k | €105k | €151k | €116k | €399k | ▲ 244% |
| Financial income75/76B | €36k | €37k | €47k | €70k | €8k | ▼ 88.3% |
| Recurring financial income75 | €36k | €37k | €47k | €70k | €8k | ▼ 88.3% |
| Financial charges65/66B | €14k | €13k | €11k | €9k | €9k | ▲ 6.4% |
| Recurring financial charges65 | €14k | €13k | €11k | €9k | €9k | ▲ 6.4% |
| Profit (loss) for the period before taxes9903 | €270k | €129k | €187k | €177k | €398k | ▲ 125% |
| Income taxes67/77 | €76k | €41k | €62k | €54k | €114k | ▲ 112% |
| Profit (loss) for the period9904 | €195k | €88k | €125k | €123k | €284k | ▲ 131% |
| Profit (loss) for the period to be appropriated9905 | €195k | €88k | €125k | €123k | €284k | ▲ 131% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.44M | €1.36M | €1.54M | €1.54M | €2.13M | ▲ 37.6% |
| Fixed assets21/28 | €688k | €637k | €588k | €593k | €712k | ▲ 20.2% |
| Intangible fixed assets21 | €57k | €45k | €33k | €21k | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €630k | €592k | €555k | €572k | €712k | ▲ 24.5% |
| Land and buildings22 | €584k | €555k | €528k | €503k | €479k | ▼ 4.8% |
| Plant, machinery and equipment23 | €2k | €922 | €184 | €0 | €2k | - |
| Furniture and vehicles24 | €14k | €14k | €13k | €25k | €35k | ▲ 40.5% |
| Other tangible fixed assets26 | €31k | €23k | €15k | €44k | €196k | ▲ 346% |
| Financial fixed assets28 | €699 | €699 | €0 | - | - | - |
| Current assets29/58 | €752k | €726k | €955k | €952k | €1.41M | ▲ 48.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €800k | - |
| Other amounts receivable291 | - | - | - | - | €800k | - |
| Stocks and contracts in progress3 | €97k | €67k | €84k | €87k | €0 | ▼ 100% |
| Stocks30/36 | €97k | €67k | €84k | €87k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €518k | €555k | €728k | €695k | €603k | ▼ 13.2% |
| Trade receivables40 | €515k | €555k | €624k | €594k | €547k | ▼ 7.9% |
| Other amounts receivable41 | €3k | €151 | €104k | €101k | €56k | ▼ 44.5% |
| Cash at bank and in hand54/58 | €45k | €30k | €24k | €71k | €9k | ▼ 87.9% |
| Deferred charges and accrued income490/1 | €92k | €74k | €120k | €98k | €677 | ▼ 99.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.44M | €1.36M | €1.54M | €1.54M | €2.13M | ▲ 37.6% |
| Equity10/15 | €442k | €530k | €656k | €778k | €1.06M | ▲ 36.5% |
| Contributions10/11 | €340k | €340k | €340k | €340k | €340k | = |
| Revaluation surpluses12 | €21k | €21k | €21k | €21k | €21k | = |
| Reserves13 | €81k | €169k | €295k | €417k | €701k | ▲ 68.0% |
| Non-distributable reserves130/1 | €1k | €1k | €0 | - | - | - |
| Reserves not available under the articles1311 | €1k | €1k | €0 | - | - | - |
| Tax-exempt reserves132 | €37k | €37k | €37k | €37k | €37k | = |
| Distributable reserves133 | €43k | €131k | €257k | €380k | €664k | ▲ 74.7% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €997k | €833k | €888k | €766k | €1.06M | ▲ 38.8% |
| Amounts payable after more than one year17 | €437k | €349k | €278k | €218k | €220k | ▲ 1.2% |
| Financial debts170/4 | €437k | €349k | €278k | €218k | €220k | ▲ 1.2% |
| Amounts payable within one year42/48 | €560k | €483k | €610k | €548k | €842k | ▲ 53.7% |
| Current portion of amounts payable after more than one year42 | €86k | €97k | €74k | €77k | €80k | ▲ 4.6% |
| Trade debts44 | €199k | €124k | €251k | €240k | €615k | ▲ 156% |
| Suppliers440/4 | €199k | €124k | €251k | €240k | €615k | ▲ 156% |
| Advances received on contracts in progress46 | €126k | €108k | €179k | €140k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €134k | €124k | €105k | €89k | €145k | ▲ 63.2% |
| Taxes450/3 | €78k | €81k | €55k | €51k | €118k | ▲ 133% |
| Remuneration and social security454/9 | €56k | €43k | €50k | €39k | €28k | ▼ 28.3% |
| Other amounts payable47/48 | €15k | €30k | €345 | €1k | €1k | = |
| Accrued charges and deferred income492/3 | - | €60 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €195k | €88k | €125k | €123k | €284k | ▲ 131% |
| + Depreciation and write-downs630 | €48k | €54k | €52k | €53k | €80k | ▲ 51.2% |
| Operating cash flow (approximation) | €243k | €142k | €178k | €176k | €364k | ▲ 107% |
| Investment in fixed assets (approximation) | - | €-3k | €-3k | €-58k | €-199k | ▼ 246% |
| Change in cash | - | €-15k | €-6k | €48k | €-63k | ▼ 231% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €1MEq €1.06M ▲36.5%
8 profitable years in a row build equity to €1.06M.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 58 days late
2022
31-12
Financial
Equity above €500kEq €530k ▲19.9%
5 profitable years in a row build equity to €530k.
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
31-12
Financial
Weakest financial yearnet €35k ▼88.7%
Net result drops to €35k, the lowest in the series; recovery starts the following year.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €312k ▲447%
Net result €312k, the highest in the series.
31-12
Financial
Equity above €200kEq €213k
2 profitable years in a row build equity to €213k.
Show earlier events
12-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Herentals · 1 establishment unit since 2003
Ground area
1,237 m²
Building footprint
364 m²
Volume, LiDAR
72 m³
Parcel 13011B0616/00F000, Flanders · tallest building 3.5 m. Linked by address, not a title deed.
1 establishment unit
Improve it
since 20032.132.479.474
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13011B0616/00F000 | Flanders | 1,237 m² | 1 · 364 m² | 3.5 m |
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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 132 EUR awarded · 132 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 132 EUR | 132 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 20,028 companies in sector 43320 we hold annual accounts for 9,133. 4,241 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
Founded15-07-2003
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
Scores and ratios are computed by Checked and are not a credit decision.