Improva: 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.
Improva
Largest movements
- Cash +€33,372
up €33,372 (+41.9%), from €79,729 to €113,101
mainly Net result for the year (+€55,606) and Tax, wage and social debts (+€14,888)
- Current investments +€26,112
up €26,112 (+12.6%), from €207,086 to €233,198
- Tangible fixed assets -€8,370
down €8,370 (-38.9%), from €21,509 to €13,139
of which Furniture and vehicles: -€7,904
- Receivables after one year -€7,000
down €7,000 (-10.0%), from €70,000 to €63,000
of which Other amounts receivable: -€7,000
- Reserves +€55,606
up €55,606 (+15.2%), from €364,709 to €420,315
- Other debts -€22,160
down €22,160 (-33.5%), from €66,199 to €44,039
- Tax, wage and social debts +€14,888
up €14,888 (+116%), from €12,822 to €27,710
of which Taxes: +€14,863
- Taxes -€5,320
down €5,320 (-18.1%), from €29,442 to €24,123
- Gross operating margin -€4,734
down €4,734 (-5.2%), from €90,313 to €85,579
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.
Derived cash bridge
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 | €454,148 | €500,109 | +€45,962 | +10.1% |
| Fixed assets | 21/28 | €76,977 | €68,607 | -€8,370 | -10.9% |
| Tangible fixed assets | 22/27 | €21,509 | €13,139 | -€8,370 | -38.9% |
| Plant, machinery and equipment | 23 | €2,191 | €1,725 | -€466 | -21.3% |
| Furniture and vehicles | 24 | €19,318 | €11,414 | -€7,904 | -40.9% |
| Financial fixed assets | 28 | €55,468 | €55,468 | = | 0.0% |
| Current assets | 29/58 | €377,171 | €431,502 | +€54,331 | +14.4% |
| Amounts receivable after more than one year | 29 | €70,000 | €63,000 | -€7,000 | -10.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €70,000 | €63,000 | -€7,000 | -10.0% |
| Amounts receivable within one year | 40/41 | €19,947 | €20,386 | +€438 | +2.2% |
| Trade receivables | 40 | €14,260 | €14,777 | +€517 | +3.6% |
| Other amounts receivable | 41 | €5,687 | €5,609 | -€78 | -1.4% |
| Current investments | 50/53 | €207,086 | €233,198 | +€26,112 | +12.6% |
| Cash at bank and in hand | 54/58 | €79,729 | €113,101 | +€33,372 | +41.9% |
| Deferred charges and accrued income | 490/1 | €409 | €1,818 | +€1,409 | +344% |
| Total equity and liabilities | 10/49 | €454,148 | €500,109 | +€45,962 | +10.1% |
| Equity | 10/15 | €370,909 | €426,515 | +€55,606 | +15.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €364,709 | €420,315 | +€55,606 | +15.2% |
| Distributable reserves | 133 | €364,709 | €420,315 | +€55,606 | +15.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €83,238 | €73,594 | -€9,644 | -11.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €83,238 | €73,594 | -€9,644 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €4,194 | €0 | -€4,194 | -100% |
| Trade debts | 44 | €23 | €1,845 | +€1,822 | +7,790% |
| Suppliers | 440/4 | €23 | €1,845 | +€1,822 | +7,790% |
| Taxes, remuneration and social security | 45 | €12,822 | €27,710 | +€14,888 | +116% |
| Taxes | 450/3 | €9,547 | €24,409 | +€14,863 | +156% |
| Remuneration and social security | 454/9 | €3,275 | €3,300 | +€25 | +0.8% |
| Other amounts payable | 47/48 | €66,199 | €44,039 | -€22,160 | -33.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,093 | €9,113 | +€20 | +0.2% |
| Other operating charges | 640/8 | €721 | €743 | +€22 | +3.1% |
| Gross operating margin | 9900 | €90,313 | €85,579 | -€4,734 | -5.2% |
| Operating profit (loss) | 9901 | €80,499 | €75,723 | -€4,776 | -5.9% |
| Financial income | 75/76B | €4,811 | €4,640 | -€171 | -3.6% |
| Recurring financial income | 75 | €4,811 | €4,640 | -€171 | -3.6% |
| Financial charges | 65/66B | €694 | €635 | -€60 | -8.6% |
| Recurring financial charges | 65 | €694 | €635 | -€60 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €84,616 | €79,729 | -€4,887 | -5.8% |
| Income taxes | 67/77 | €29,442 | €24,123 | -€5,320 | -18.1% |
| Profit (loss) for the period | 9904 | €55,174 | €55,606 | +€432 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €55,174 | €55,606 | +€432 | +0.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.