IMPROVE IT: what changed
What changed
IMPROVE IT
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
€283,954
2024 · €122,806+€161,147
Equity
€1.1m
2024 · €778,500+€283,954
Cash
€8,663
2024 · €71,414-€62,751
Balance sheet total
€2.1m
2024 · €1.5m+€580,755
Largest movements
Assets
- Receivables after one year +€800,000
new in 2025: €800,000
- Tangible fixed assets +€140,250
up €140,250 (+24.5%), from €572,198 to €712,448
of which Other tangible fixed assets: +€152,427
- Deferred charges and accrued income -€97,468
down €97,468 (-99.3%), from €98,145 to €677
- Receivables within one year -€91,834
down €91,834 (-13.2%), from €695,228 to €603,395
of which Trade receivables: -€46,754
- Stocks and contracts -€86,730
down €86,730 (-100%), from €86,730 to €0
Equity and liabilities
- Trade debts +€374,847
up €374,847 (+156%), from €240,391 to €615,238
- Reserves +€283,954
up €283,954 (+68.0%), from €417,500 to €701,453
of which Distributable reserves: +€283,954
- Advances received -€140,357
down €140,357 (-100%), from €140,357 to €0
- Tax, wage and social debts +€56,286
up €56,286 (+63.2%), from €89,123 to €145,409
of which Taxes: +€67,228
Income statement
- Gross operating margin +€318,129
up €318,129 (+42.6%), from €746,398 to €1.1m
- Financial income -€61,418
down €61,418 (-88.3%), from €69,557 to €8,138
- Taxes +€60,178
up €60,178 (+112%), from €53,779 to €113,957
- Depreciation +€27,013
up €27,013 (+51.2%), from €52,767 to €79,779
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€122,806
Gross operating margin
+€318,129
Staff costs
-€5,818
Depreciation
-€27,013
Other operating charges
-€1,984
Financial income
-€61,418
Financial charges
-€570
Taxes
-€60,178
Result 2025
€283,954
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€130,540
Investment
-€199,317
Financing
+€6,026
Cash 2024
€71,414
From operations (derived)
+€130,540
Net result for the year
+€283,954
Depreciation
+€79,779
Receivables after one year
-€800,000
Stocks and contracts
+€86,730
Receivables within one year
+€91,834
Deferred charges and accrued income
+€97,468
Trade debts
+€374,847
Tax, wage and social debts
+€56,286
Advances received
-€140,357
Investment (derived)
-€199,317
Investment in fixed assets (net)
-€199,317
Financing
+€6,026
Debts after one year
+€2,514
Current portion of long-term debt
+€3,512
Cash 2025
€8,663
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,544,428 | €2,125,183 | +€580,755 | +37.6% |
| Fixed assets | 21/28 | €592,910 | €712,448 | +€119,538 | +20.2% |
| Intangible fixed assets | 21 | €20,712 | €0 | -€20,712 | -100% |
| Tangible fixed assets | 22/27 | €572,198 | €712,448 | +€140,250 | +24.5% |
| Land and buildings | 22 | €503,368 | €478,982 | -€24,386 | -4.8% |
| Plant, machinery and equipment | 23 | €0 | €2,169 | +€2,169 | |
| Furniture and vehicles | 24 | €24,803 | €34,842 | +€10,040 | +40.5% |
| Other tangible fixed assets | 26 | €44,027 | €196,454 | +€152,427 | +346% |
| Current assets | 29/58 | €951,518 | €1,412,735 | +€461,217 | +48.5% |
| Amounts receivable after more than one year | 29 | - | €800,000 | +€800,000 | |
| Other amounts receivable | 291 | - | €800,000 | +€800,000 | |
| Stocks and contracts in progress | 3 | €86,730 | €0 | -€86,730 | -100% |
| Stocks | 30/36 | €86,730 | €0 | -€86,730 | -100% |
| Amounts receivable within one year | 40/41 | €695,228 | €603,395 | -€91,834 | -13.2% |
| Trade receivables | 40 | €593,977 | €547,222 | -€46,754 | -7.9% |
| Other amounts receivable | 41 | €101,251 | €56,172 | -€45,079 | -44.5% |
| Cash at bank and in hand | 54/58 | €71,414 | €8,663 | -€62,751 | -87.9% |
| Deferred charges and accrued income | 490/1 | €98,145 | €677 | -€97,468 | -99.3% |
| Total equity and liabilities | 10/49 | €1,544,428 | €2,125,183 | +€580,755 | +37.6% |
| Equity | 10/15 | €778,500 | €1,062,453 | +€283,954 | +36.5% |
| Contributions | 10/11 | €340,000 | €340,000 | = | 0.0% |
| Revaluation surpluses | 12 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €417,500 | €701,453 | +€283,954 | +68.0% |
| Tax-exempt reserves | 132 | €37,424 | €37,424 | = | 0.0% |
| Distributable reserves | 133 | €380,075 | €664,029 | +€283,954 | +74.7% |
| Amounts payable | 17/49 | €765,929 | €1,062,730 | +€296,801 | +38.8% |
| Amounts payable after more than one year | 17 | €217,869 | €220,383 | +€2,514 | +1.2% |
| Financial debts | 170/4 | €217,869 | €220,383 | +€2,514 | +1.2% |
| Amounts payable within one year | 42/48 | €548,060 | €842,347 | +€294,288 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | €76,913 | €80,425 | +€3,512 | +4.6% |
| Trade debts | 44 | €240,391 | €615,238 | +€374,847 | +156% |
| Suppliers | 440/4 | €240,391 | €615,238 | +€374,847 | +156% |
| Advances received on contracts in progress | 46 | €140,357 | €0 | -€140,357 | -100% |
| Taxes, remuneration and social security | 45 | €89,123 | €145,409 | +€56,286 | +63.2% |
| Taxes | 450/3 | €50,509 | €117,737 | +€67,228 | +133% |
| Remuneration and social security | 454/9 | €38,615 | €27,672 | -€10,943 | -28.3% |
| Other amounts payable | 47/48 | €1,275 | €1,275 | = | 0.0% |
| Non-recurring operating income | 76A | €8,264 | €735,472 | +€727,208 | +8,799% |
| Remuneration, social security and pensions | 62 | €567,978 | €573,797 | +€5,818 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,767 | €79,779 | +€27,013 | +51.2% |
| Other operating charges | 640/8 | €9,720 | €11,704 | +€1,984 | +20.4% |
| Gross operating margin | 9900 | €746,398 | €1,064,527 | +€318,129 | +42.6% |
| Operating profit (loss) | 9901 | €115,933 | €399,247 | +€283,314 | +244% |
| Financial income | 75/76B | €69,557 | €8,138 | -€61,418 | -88.3% |
| Recurring financial income | 75 | €69,557 | €8,138 | -€61,418 | -88.3% |
| Financial charges | 65/66B | €8,904 | €9,474 | +€570 | +6.4% |
| Recurring financial charges | 65 | €8,904 | €9,474 | +€570 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €176,585 | €397,911 | +€221,326 | +125% |
| Income taxes | 67/77 | €53,779 | €113,957 | +€60,178 | +112% |
| Profit (loss) for the period | 9904 | €122,806 | €283,954 | +€161,147 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €122,806 | €283,954 | +€161,147 | +131% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.