IMPROVIUM
Open bankruptcyFinancials · financial year 2025, micro format
Equity
-€220,920
2024 · €63,130
Total assets
€53,519▼ 82.5%
2024 · €306,088
Net result
-€284,049▼ 3,678%
2024 · -€7,519
Working capital
-€183,445▼ 68.7%
2024 · -€108,725
Trend over the years
2022 to 2025, 4 financial years
The operating result stays negative: a loss of €27,898 in 2025 against €2,019 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€27,898
2025
Net result-€284,049
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€53,519
2025
Equity-€220,920
2025
Debt€274,439
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€183,445
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-530.7%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-412.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.19
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€79,217--€2,093-€2,019▲ 3.5%-€27,898▼ 1,282%
Net result€44,649within the sector's middle half--€11,500below the sector's middle half-€7,519below the sector's middle half▲ 34.6%-€284,049below the sector's middle half▼ 3,678%
Equity€82,149within the sector's middle half-€70,649within the sector's middle half▼ 14.0%€63,130within the sector's middle half▼ 10.6%-€220,920below the sector's middle half
Total assets€289,100within the sector's middle half-€305,289within the sector's middle half▲ 5.6%€306,088within the sector's middle half▲ 0.3%€53,519below the sector's middle half▼ 82.5%
Debt€206,952-€234,640▲ 13.4%€242,958▲ 3.5%€274,439▲ 13.0%
Working capital-€30,748below the sector's middle half--€71,215below the sector's middle half▼ 132%-€108,725below the sector's middle half▼ 52.7%-€183,445below the sector's middle half▼ 68.7%
Solvency28.4%within the sector's middle half-23.1%below the sector's middle half▼ 5.3pp20.6%below the sector's middle half▼ 2.5pp-412.8%below the sector's middle half▼ 433.4pp
Current ratio0.53below the sector's middle half-0.42below the sector's middle half▼ 0.110.33below the sector's middle half▼ 0.090.19below the sector's middle half▼ 0.15
Return on assets (ROA)15.4%within the sector's middle half--3.8%below the sector's middle half▼ 19.2pp-2.5%below the sector's middle half▲ 1.3pp-530.7%below the sector's middle half▼ 528.3pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €53,519
Fixed assets
€11,644 ▼ 95.4%
Current assets
€41,875 ▼ 22.2%
Equity and liabilities
Equity-€220,920
Debt€274,439
Equity is negative: debt (€274,439) exceeds the balance-sheet total (€53,519).
Key figures and ratios
EBITDA
-€25,483▼
2024 · -€1,170
Cash flow
-€281,634▼
2024 · -€6,670
Interest coverage
-4.44▼
2024 · -0.14
Debt ≤ 1 year
€225,320▲
2024 · €162,534
Debt > 1 year
€49,119▼
2024 · €80,425
Income taxes
€408▲
2024 · €394
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €455 | €849 | €849 | €2,415 | ▲ 184% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €25,500 | - | - | - | - |
| Other operating charges640/8 | €3,249 | €2,424 | €4,590 | €2,046 | ▼ 55.4% |
| Gross operating margin9900 | €108,420 | €1,180 | €3,420 | -€23,437 | - |
| Operating profit (loss)9901 | €79,217 | -€2,093 | -€2,019 | -€27,898 | ▼ 1,282% |
| Financial income75/76B | €1,345 | €17 | €3,058 | - | - |
| Recurring financial income75 | €1,345 | €17 | €3,058 | - | - |
| Financial charges65/66B | €16,309 | €8,940 | €8,163 | €255,743 | ▲ 3,033% |
| Recurring financial charges65 | €16,309 | €8,940 | €8,163 | €5,743 | ▼ 29.6% |
| Non-recurring financial charges66B | - | - | - | €250,000 | - |
| Profit (loss) for the period before taxes9903 | €64,253 | -€11,016 | -€7,125 | -€283,641 | ▼ 3,881% |
| Income taxes67/77 | €19,604 | €484 | €394 | €408 | ▲ 3.5% |
| Profit (loss) for the period9904 | €44,649 | -€11,500 | -€7,519 | -€284,049 | ▼ 3,678% |
| Profit (loss) for the period to be appropriated9905 | €44,649 | -€11,500 | -€7,519 | -€284,049 | ▼ 3,678% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €289,100 | €305,289 | €306,088 | €53,519 | ▼ 82.5% |
| Fixed assets21/28 | €253,978 | €253,128 | €252,279 | €11,644 | ▼ 95.4% |
| Tangible fixed assets22/27 | €3,792 | €2,942 | €2,093 | €11,458 | ▲ 447% |
| Furniture and vehicles24 | €3,792 | €2,942 | €2,093 | €11,458 | ▲ 447% |
| Financial fixed assets28 | €250,186 | €250,186 | €250,186 | €186 | ▼ 99.9% |
| Current assets29/58 | €35,123 | €52,161 | €53,809 | €41,875 | ▼ 22.2% |
| Amounts receivable within one year40/41 | €28,472 | €51,661 | €53,809 | €39,644 | ▼ 26.3% |
| Trade receivables40 | €4,000 | €4,750 | - | €8,500 | - |
| Other amounts receivable41 | €24,472 | €46,911 | €53,809 | €31,144 | ▼ 42.1% |
| Cash at bank and in hand54/58 | €6,100 | - | - | €528 | - |
| Deferred charges and accrued income490/1 | €551 | €500 | - | €1,702 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €289,100 | €305,289 | €306,088 | €53,519 | ▼ 82.5% |
| Equity10/15 | €82,149 | €70,649 | €63,130 | -€220,920 | - |
| Contributions10/11 | €37,500 | €37,500 | €37,500 | €37,500 | = |
| Profit (loss) carried forward14 | €44,649 | €33,149 | €25,630 | -€258,420 | - |
| Amounts payable17/49 | €206,952 | €234,640 | €242,958 | €274,439 | ▲ 13.0% |
| Amounts payable after more than one year17 | €141,082 | €111,074 | €80,425 | €49,119 | ▼ 38.9% |
| Financial debts170/4 | €141,082 | €111,074 | €80,425 | €49,119 | ▼ 38.9% |
| Amounts payable within one year42/48 | €65,870 | €123,375 | €162,534 | €225,320 | ▲ 38.6% |
| Current portion of amounts payable after more than one year42 | €31,169 | €31,602 | €33,294 | €33,741 | ▲ 1.3% |
| Financial debts43 | - | €594 | €622 | - | - |
| Credit institutions430/8 | - | €594 | €622 | - | - |
| Trade debts44 | €2,864 | €4,074 | €32,246 | €127,950 | ▲ 297% |
| Suppliers440/4 | €2,864 | €4,074 | €32,246 | €127,950 | ▲ 297% |
| Taxes, remuneration and social security45 | €31,838 | €57,370 | €63,746 | €51,067 | ▼ 19.9% |
| Taxes450/3 | €31,838 | €57,370 | €63,746 | €51,067 | ▼ 19.9% |
| Other amounts payable47/48 | - | €29,735 | €32,626 | €12,562 | ▼ 61.5% |
| Accrued charges and deferred income492/3 | - | €191 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,649 | -€11,500 | -€7,519 | -€284,049 | ▼ 3,678% |
| + Depreciation and write-downs630 | €455 | €849 | €849 | €2,415 | ▲ 184% |
| Operating cash flow (approximation) | €45,103 | -€10,651 | -€6,670 | -€281,634 | ▼ 4,123% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €238,219 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 22-07-2026 | 2026-00316588 |
| 31-12-2024 | micro format | 26-12-2025 | 2026-00000598 |
| 31-12-2023 | micro format | 31-12-2024 | 2025-00630188 |
| 31-12-2022 | micro format | 23-11-2023 | 2023-00516383 |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 82,449 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 53,924. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.