IMPROVEZ
InactiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 11-05-2026 PDF all 16 filings
Turnover
≈ €280,000
Estimated: probably between €180,000 and €480,000
Total assets
€363,212▲ 17.9%
2024 · €308,047
Net result
€63,312▼ 38.0%
2024 · €102,078
Working capital
€307,228▲ 33.5%
2024 · €230,195
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€78,593
▼ 45.7%
2025
20182025
Net result
€63,312
▼ 38.0%
2025
20182025
Equity
€353,312
▲ 19.7%
2025
20182025
Total assets
€363,212
▲ 17.9%
2025
20182025
Debt
€9,900
▼ 23.7%
2025
20182025
Working capital
€307,228
▲ 33.5%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€21,119-€5,059€2,498▼ 50.6%€43,470▲ 17×€109,141▲ 151%€57,111▼ 47.7%€144,735▲ 153%€78,593▼ 45.7%
Net result-€21,134-€11,576€21,476▲ 85.5%€30,520▲ 42.1%€67,670▲ 122%€47,796▼ 29.4%€102,078▲ 114%€63,312▼ 38.0%
Equity€201,743-€213,320▲ 5.7%€234,796▲ 10.1%€265,316▲ 13.0%€229,117▼ 13.6%€192,988▼ 15.8%€295,066▲ 52.9%€353,312▲ 19.7%
Total assets€242,546-€243,450▲ 0.4%€250,229▲ 2.8%€285,491▲ 14.1%€265,348▼ 7.1%€214,400▼ 19.2%€308,047▲ 43.7%€363,212▲ 17.9%
Debt€40,803-€30,131▼ 26.2%€15,433▼ 48.8%€20,174▲ 30.7%€36,231▲ 79.6%€21,412▼ 40.9%€12,981▼ 39.4%€9,900▼ 23.7%
Working capital€192,039-€208,191▲ 8.4%€230,943▲ 10.9%€238,764▲ 3.4%€210,151▼ 12.0%€177,408▼ 15.6%€230,195▲ 29.8%€307,228▲ 33.5%
The operating result for 2025 is 46% lower than in 2024.
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 €363,212
Fixed assets
€46,098 ▼ 28.9%
Current assets
€317,114 ▲ 30.4%
Equity and liabilities €363,212
Equity
€353,312 ▲ 19.7%
Debt
€9,900 ▼ 23.7%
Debt's share of the balance-sheet total falls from 4.2% to 2.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€91,425▼
2024 · €153,513
Cash flow
€76,144▼
2024 · €110,856
Current ratio
32.08▲
2024 · 18.73
Debt to equity
0.03▼
2024 · 0.04
ROE
17.9%▼
2024 · 34.6%
ROA
17.4%▼
2024 · 33.1%
Interest coverage
3.10▼
2024 · over 100
Debt ≤ 1 year
€9,885▼
2024 · €12,981
Income taxes
€39,633▼
2024 · €50,084
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 | €28,634 | - | €4,102 | €58,069 | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €5,934 | €7,238 | €7,836 | €8,778 | €12,832 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €1,185 awarded · €1,185 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €2,060 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,678 | €4,576 | €1,276 | €5,934 | €7,238 | €7,836 | €8,778 | €12,832 | ▲ 46.2% |
| Other operating charges640/8 | - | - | - | €1,238 | €746 | €731 | €705 | €398 | ▼ 43.5% |
| Gross operating margin9900 | -€12,028 | €10,004 | €5,205 | €50,643 | €117,126 | €65,678 | €154,219 | €91,823 | ▼ 40.5% |
| Operating profit (loss)9901 | -€21,119 | €5,059 | €2,498 | €43,470 | €109,141 | €57,111 | €144,735 | €78,593 | ▼ 45.7% |
| Financial income75/76B | - | - | - | €2,382 | €16,484 | €21,014 | €7,624 | €53,861 | ▲ 606% |
| Recurring financial income75 | €1,353 | €7,665 | €29,830 | €2,382 | €16,484 | €21,014 | €7,624 | €53,861 | ▲ 606% |
| Financial charges65/66B | - | - | - | €622 | €18,062 | €5,046 | €198 | €29,509 | ▲ 149× |
| Recurring financial charges65 | €1,153 | €626 | €873 | €622 | €18,062 | €5,046 | €198 | €29,509 | ▲ 149× |
| Profit (loss) for the period before taxes9903 | -€20,919 | €12,098 | €31,454 | €45,230 | €107,564 | €73,079 | €152,162 | €102,945 | ▼ 32.3% |
| Income taxes67/77 | €215 | €522 | €9,978 | €14,710 | €39,894 | €25,282 | €50,084 | €39,633 | ▼ 20.9% |
| Profit (loss) for the period9904 | -€21,134 | €11,576 | €21,476 | €30,520 | €67,670 | €47,796 | €102,078 | €63,312 | ▼ 38.0% |
| Profit (loss) for the period to be appropriated9905 | -€21,134 | €11,576 | €21,476 | €30,520 | €67,670 | €47,796 | €102,078 | €63,312 | ▼ 38.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €242,546 | €243,450 | €250,229 | €285,491 | €265,348 | €214,400 | €308,047 | €363,212 | ▲ 17.9% |
| Fixed assets21/28 | €9,705 | €5,129 | €3,853 | €26,552 | €19,314 | €15,580 | €64,871 | €46,098 | ▼ 28.9% |
| Tangible fixed assets22/27 | €9,680 | €5,104 | €3,828 | €26,527 | €19,289 | €15,555 | €64,846 | €46,073 | ▼ 28.9% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €1,876 | €1,494 | ▼ 20.4% |
| Furniture and vehicles24 | - | - | - | €26,527 | €19,289 | €15,555 | €62,970 | €44,579 | ▼ 29.2% |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €232,842 | €238,321 | €246,376 | €258,938 | €246,034 | €198,820 | €243,176 | €317,114 | ▲ 30.4% |
| Amounts receivable within one year40/41 | €381 | €20,125 | €1,126 | €20,094 | €44,649 | €11,536 | €17,524 | €219 | ▼ 98.8% |
| Trade receivables40 | - | - | - | €18,422 | €44,649 | €11,495 | €17,364 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €1,672 | €0 | €41 | €161 | €219 | ▲ 36.1% |
| Current investments50/53 | €151,889 | €151,838 | €153,538 | €177,643 | €134,011 | €74,076 | €76,522 | €102,495 | ▲ 33.9% |
| Cash at bank and in hand54/58 | €80,572 | €66,172 | €91,516 | €60,676 | €67,126 | €112,950 | €148,534 | €213,819 | ▲ 44.0% |
| Deferred charges and accrued income490/1 | - | - | - | €525 | €248 | €257 | €596 | €580 | ▼ 2.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €242,546 | €243,450 | €250,229 | €285,491 | €265,348 | €214,400 | €308,047 | €363,212 | ▲ 17.9% |
| Equity10/15 | €201,743 | €213,320 | €234,796 | €265,316 | €229,117 | €192,988 | €295,066 | €353,312 | ▲ 19.7% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €189,654 | €194,720 | €216,196 | €246,716 | €210,517 | €174,388 | €276,466 | €334,712 | ▲ 21.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €244,856 | €210,517 | €174,388 | €276,466 | €334,712 | ▲ 21.1% |
| Profit (loss) carried forward14 | -€6,511 | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €40,803 | €30,131 | €15,433 | €20,174 | €36,231 | €21,412 | €12,981 | €9,900 | ▼ 23.7% |
| Amounts payable within one year42/48 | €40,803 | €30,131 | €15,433 | €20,174 | €35,883 | €21,412 | €12,981 | €9,885 | ▼ 23.8% |
| Financial debts43 | - | - | - | - | - | €150 | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | - | €150 | €0 | - | - |
| Trade debts44 | - | - | €29 | €51 | €32 | €373 | €885 | €163 | ▼ 81.6% |
| Suppliers440/4 | - | - | - | €51 | €32 | €373 | €885 | €163 | ▼ 81.6% |
| Taxes, remuneration and social security45 | - | - | - | €17,804 | €16,233 | €10,833 | €8,091 | €4,671 | ▼ 42.3% |
| Taxes450/3 | - | - | - | €17,804 | €16,233 | €10,833 | €8,091 | €4,671 | ▼ 42.3% |
| Other amounts payable47/48 | - | - | - | €2,319 | €19,618 | €10,057 | €4,005 | €5,051 | ▲ 26.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €348 | €0 | - | €15 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€21,134 | €11,576 | €21,476 | €30,520 | €67,670 | €47,796 | €102,078 | €63,312 | ▼ 38.0% |
| + Depreciation and write-downs630 | €4,678 | €4,576 | €1,276 | €5,934 | €7,238 | €7,836 | €8,778 | €12,832 | ▲ 46.2% |
| Operating cash flow (approximation) | -€16,457 | €16,152 | €22,752 | €36,454 | €74,908 | €55,632 | €110,856 | €76,144 | ▼ 31.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€28,634 | €0 | -€4,102 | -€58,069 | €5,940 | - |
| Change in cash | - | -€14,400 | €25,344 | -€30,841 | €6,451 | €45,824 | €35,584 | €65,285 | ▲ 83.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-05-2026 | 2026-00107358 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00197959 | |
| 31-12-2023 | micro format | 10-07-2024 | 2024-00229341 | |
| 31-12-2022 | micro format | 06-06-2023 | 2023-00108333 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20092974 | |
| 31-12-2020 | micro format | 18-06-2021 | 2021-21000464 | |
| 31-12-2019 | micro format | 24-06-2020 | 2020-21500321 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-40600059 | |
| 31-12-2017 | micro format | 29-06-2018 | 2018-24600560 | |
| 31-12-2016 | micro format | 04-07-2017 | 2017-25700323 |