Real Improve: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Real Improve
Largest movements
- Tangible fixed assets +€323,799
up €323,799 (+724.3%), from €44,706 to €368,505
of which Other tangible fixed assets: +€322,107
- Cash -€23,765
down €23,765 (-83.5%), from €28,460 to €4,695
mainly Investment in fixed assets (net) (-€354,959) and Net result for the year (-€22,487)
- Debts after one year +€300,161
new in 2025: €300,161
- Profit (loss) carried forward -€22,487
new in 2025: -€22,487
- Tax, wage and social debts -€17,957
down €17,957 (-98.2%), from €18,281 to €324
- Other debts +€13,246
up €13,246 (+1991.9%), from €665 to €13,911
- Current portion of long-term debt +€13,102
new in 2025: €13,102
- Gross operating margin -€40,007
down €40,007 (-70.3%), from €56,947 to €16,940
- Depreciation +€30,988
up €30,988 (+18016.3%), from €172 to €31,160
- Taxes -€18,281
no longer reported in 2025 (was €18,281)
- Financial charges +€7,210
up €7,210 (+6324.6%), from €114 to €7,324
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,664 | €373,200 | +€296,536 | +386.8% |
| Fixed assets | 21/28 | €44,706 | €368,505 | +€323,799 | +724.3% |
| Tangible fixed assets | 22/27 | €44,706 | €368,505 | +€323,799 | +724.3% |
| Furniture and vehicles | 24 | €748 | €2,440 | +€1,692 | +226.2% |
| Other tangible fixed assets | 26 | €43,958 | €366,065 | +€322,107 | +732.8% |
| Current assets | 29/58 | €31,958 | €4,695 | -€27,263 | -85.3% |
| Amounts receivable within one year | 40/41 | €3,498 | - | -€3,498 | |
| Other amounts receivable | 41 | €3,498 | - | -€3,498 | |
| Cash at bank and in hand | 54/58 | €28,460 | €4,695 | -€23,765 | -83.5% |
| Total equity and liabilities | 10/49 | €76,664 | €373,200 | +€296,536 | +386.8% |
| Equity | 10/15 | €38,687 | €16,200 | -€22,487 | -58.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €37,187 | €37,187 | = | 0.0% |
| Distributable reserves | 133 | €37,187 | €37,187 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€22,487 | -€22,487 | |
| Amounts payable | 17/49 | €37,977 | €357,000 | +€319,023 | +840.0% |
| Amounts payable after more than one year | 17 | - | €300,161 | +€300,161 | |
| Financial debts | 170/4 | - | €300,161 | +€300,161 | |
| Amounts payable within one year | 42/48 | €37,977 | €56,839 | +€18,862 | +49.7% |
| Current portion of amounts payable after more than one year | 42 | - | €13,102 | +€13,102 | |
| Trade debts | 44 | €19,031 | €29,502 | +€10,471 | +55.0% |
| Suppliers | 440/4 | €19,031 | €29,502 | +€10,471 | +55.0% |
| Taxes, remuneration and social security | 45 | €18,281 | €324 | -€17,957 | -98.2% |
| Taxes | 450/3 | €18,281 | €324 | -€17,957 | -98.2% |
| Other amounts payable | 47/48 | €665 | €13,911 | +€13,246 | +1991.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €172 | €31,160 | +€30,988 | +18016.3% |
| Other operating charges | 640/8 | €1,198 | €943 | -€255 | -21.3% |
| Gross operating margin | 9900 | €56,947 | €16,940 | -€40,007 | -70.3% |
| Operating profit (loss) | 9901 | €55,577 | -€15,163 | -€70,740 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €114 | €7,324 | +€7,210 | +6324.6% |
| Recurring financial charges | 65 | €114 | €7,324 | +€7,210 | +6324.6% |
| Profit (loss) for the period before taxes | 9903 | €55,468 | -€22,487 | -€77,955 | |
| Income taxes | 67/77 | €18,281 | - | -€18,281 | |
| Profit (loss) for the period | 9904 | €37,187 | -€22,487 | -€59,674 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,187 | -€22,487 | -€59,674 |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.