Ets REFRICAR: what changed
What changed
Ets REFRICAR
NACE 28.250, Manufacture of machinery and equipment not elsewhere classified
filed annual accounts (NBB)
Net result for the year
€141,723
2024 · €42,628+€99,095
Equity
€237,015
2024 · €195,292+€41,723
Cash
€147,143
2024 · €56,170+€90,973
Balance sheet total
€907,240
2024 · €752,455+€154,785
Largest movements
Assets
- Cash +€90,973
up €90,973 (+162%), from €56,170 to €147,143
mainly Net result for the year (+€141,723) and Other debts (+€100,675)
- Stocks and contracts +€46,264
up €46,264 (+15.7%), from €295,477 to €341,742
- Receivables within one year +€32,932
up €32,932 (+11.3%), from €290,312 to €323,245
of which Other amounts receivable: +€19,571
- Tangible fixed assets -€17,532
down €17,532 (-17.5%), from €100,370 to €82,837
Equity and liabilities
- Other debts +€100,675
new in 2025: €100,675
- Trade debts +€76,376
up €76,376 (+38.5%), from €198,424 to €274,800
- Short-term financial debts -€50,000
down €50,000 (-20.0%), from €250,000 to €200,000
- Reserves +€42,000
up €42,000 (+31.5%), from €133,150 to €175,150
of which Distributable reserves: +€42,000
- Debts after one year -€15,761
down €15,761 (-60.0%), from €26,283 to €10,522
Income statement
- Gross operating margin +€159,325
up €159,325 (+38.1%), from €418,574 to €577,899
- Taxes +€37,037
up €37,037 (+241%), from €15,351 to €52,388
- Staff costs +€18,141
up €18,141 (+5.8%), from €310,403 to €328,544
- Other operating charges +€6,544
up €6,544 (+108%), from €6,077 to €12,621
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
€42,628
Gross operating margin
+€159,325
Staff costs
-€18,141
Depreciation
-€2,252
Other operating charges
-€6,544
Financial income
-€530
Financial charges
+€4,273
Taxes
-€37,037
Result 2025
€141,723
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
+€269,854
Investment
-€10,257
Financing
-€168,623
Cash 2024
€56,170
From operations (derived)
+€269,854
Net result for the year
+€141,723
Depreciation
+€27,789
Stocks and contracts
-€46,264
Receivables within one year
-€32,932
Deferred charges and accrued income
-€2,147
Trade debts
+€76,376
Tax, wage and social debts
+€5,213
Other debts
+€100,675
Accrued charges and deferred income
-€579
Investment (derived)
-€10,257
Investment in fixed assets (net)
-€10,257
Financing
-€168,623
Debts after one year
-€15,761
Current portion of long-term debt
-€2,862
Short-term financial debts
-€50,000
Contributions, distributions and other
-€100,000
Cash 2025
€147,143
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €752,455 | €907,240 | +€154,785 | +20.6% |
| Fixed assets | 21/28 | €100,420 | €82,887 | -€17,532 | -17.5% |
| Tangible fixed assets | 22/27 | €100,370 | €82,837 | -€17,532 | -17.5% |
| Plant, machinery and equipment | 23 | €30,524 | €22,497 | -€8,027 | -26.3% |
| Furniture and vehicles | 24 | €13,065 | €11,444 | -€1,621 | -12.4% |
| Other tangible fixed assets | 26 | €56,781 | €48,897 | -€7,885 | -13.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €652,035 | €824,352 | +€172,317 | +26.4% |
| Stocks and contracts in progress | 3 | €295,477 | €341,742 | +€46,264 | +15.7% |
| Stocks | 30/36 | €295,477 | €341,742 | +€46,264 | +15.7% |
| Amounts receivable within one year | 40/41 | €290,312 | €323,245 | +€32,932 | +11.3% |
| Trade receivables | 40 | €287,192 | €300,553 | +€13,361 | +4.7% |
| Other amounts receivable | 41 | €3,121 | €22,692 | +€19,571 | +627% |
| Cash at bank and in hand | 54/58 | €56,170 | €147,143 | +€90,973 | +162% |
| Deferred charges and accrued income | 490/1 | €10,075 | €12,223 | +€2,147 | +21.3% |
| Total equity and liabilities | 10/49 | €752,455 | €907,240 | +€154,785 | +20.6% |
| Equity | 10/15 | €195,292 | €237,015 | +€41,723 | +21.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €133,150 | €175,150 | +€42,000 | +31.5% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €127,000 | €169,000 | +€42,000 | +33.1% |
| Profit (loss) carried forward | 14 | €642 | €365 | -€277 | -43.1% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €547,163 | €660,224 | +€113,061 | +20.7% |
| Amounts payable after more than one year | 17 | €26,283 | €10,522 | -€15,761 | -60.0% |
| Financial debts | 170/4 | €26,283 | €10,522 | -€15,761 | -60.0% |
| Amounts payable within one year | 42/48 | €520,067 | €649,468 | +€129,401 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €18,623 | €15,761 | -€2,862 | -15.4% |
| Financial debts | 43 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Credit institutions | 430/8 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Trade debts | 44 | €198,424 | €274,800 | +€76,376 | +38.5% |
| Suppliers | 440/4 | €198,424 | €274,800 | +€76,376 | +38.5% |
| Taxes, remuneration and social security | 45 | €53,019 | €58,232 | +€5,213 | +9.8% |
| Taxes | 450/3 | €22,260 | €23,942 | +€1,682 | +7.6% |
| Remuneration and social security | 454/9 | €30,760 | €34,290 | +€3,530 | +11.5% |
| Other amounts payable | 47/48 | - | €100,675 | +€100,675 | |
| Accrued charges and deferred income | 492/3 | €813 | €234 | -€579 | -71.2% |
| Remuneration, social security and pensions | 62 | €310,403 | €328,544 | +€18,141 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,538 | €27,789 | +€2,252 | +8.8% |
| Other operating charges | 640/8 | €6,077 | €12,621 | +€6,544 | +108% |
| Gross operating margin | 9900 | €418,574 | €577,899 | +€159,325 | +38.1% |
| Operating profit (loss) | 9901 | €76,556 | €208,944 | +€132,388 | +173% |
| Financial income | 75/76B | €571 | €42 | -€530 | -92.7% |
| Recurring financial income | 75 | €571 | €42 | -€530 | -92.7% |
| Financial charges | 65/66B | €19,148 | €14,874 | -€4,273 | -22.3% |
| Recurring financial charges | 65 | €19,148 | €14,874 | -€4,273 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €57,980 | €194,112 | +€136,132 | +235% |
| Income taxes | 67/77 | €15,351 | €52,388 | +€37,037 | +241% |
| Profit (loss) for the period | 9904 | €42,628 | €141,723 | +€99,095 | +232% |
| Profit (loss) for the period to be appropriated | 9905 | €42,628 | €141,723 | +€99,095 | +232% |
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 1 November 2026 via checked.be.