Start with an acorn
An acorn is not an oak tree. Yet an acorn can become an oak in a way that a stone cannot. That difference is not captured by saying only that the oak does not exist yet.
The acorn already has an actual nature and, because of that nature, real capacities for further development. Aquinas calls what is already realized act and a capacity that can be realized potency.
The distinction lets us describe genuine change without saying that the same thing is both oak and not-oak in the same respect at the same time.