IL RIFUGIO: 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.
IL RIFUGIO
Largest movements
- Cash +€11,743
up €11,743 (+33.2%), from €35,405 to €47,148
mainly Other debts (+€15,600) and Receivables within one year (+€11,432)
- Receivables within one year -€11,432
down €11,432 (-36.2%), from €31,582 to €20,150
of which Other amounts receivable: -€6,122
- Deferred charges and accrued income -€9,501
down €9,501 (-98.1%), from €9,683 to €182
- Trade debts -€16,237
down €16,237 (-39.1%), from €41,502 to €25,265
- Other debts +€15,600
up €15,600 (+14.3%), from €108,854 to €124,454
- Tax, wage and social debts -€11,350
down €11,350 (-30.5%), from €37,181 to €25,830
of which Remuneration and social security: -€10,915
- Profit (loss) carried forward +€8,946
up €8,946 (+5.4%), from -€166,413 to -€157,466
- Short-term financial debts -€5,400
no longer reported in 2025 (was €5,400)
- Gross operating margin +€24,657
up €24,657 (+10.7%), from €230,346 to €255,003
- Financial income +€7,781
up €7,781 (+802%), from €970 to €8,752
- Staff costs +€4,425
up €4,425 (+1.8%), from €240,925 to €245,350
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 | €80,380 | €71,250 | -€9,130 | -11.4% |
| Fixed assets | 21/28 | €2,515 | €2,115 | -€400 | -15.9% |
| Tangible fixed assets | 22/27 | €1,265 | €865 | -€400 | -31.6% |
| Plant, machinery and equipment | 23 | €1,265 | €865 | -€400 | -31.6% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €77,865 | €69,135 | -€8,730 | -11.2% |
| Stocks and contracts in progress | 3 | €1,194 | €1,655 | +€461 | +38.6% |
| Stocks | 30/36 | €1,194 | €1,655 | +€461 | +38.6% |
| Amounts receivable within one year | 40/41 | €31,582 | €20,150 | -€11,432 | -36.2% |
| Trade receivables | 40 | €18,998 | €13,687 | -€5,311 | -28.0% |
| Other amounts receivable | 41 | €12,585 | €6,463 | -€6,122 | -48.6% |
| Cash at bank and in hand | 54/58 | €35,405 | €47,148 | +€11,743 | +33.2% |
| Deferred charges and accrued income | 490/1 | €9,683 | €182 | -€9,501 | -98.1% |
| Total equity and liabilities | 10/49 | €80,380 | €71,250 | -€9,130 | -11.4% |
| Equity | 10/15 | -€113,252 | -€104,306 | +€8,946 | +7.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €34,568 | €34,568 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €32,709 | €32,709 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,413 | -€157,466 | +€8,946 | +5.4% |
| Amounts payable | 17/49 | €193,632 | €175,556 | -€18,076 | -9.3% |
| Amounts payable within one year | 42/48 | €192,937 | €175,549 | -€17,388 | -9.0% |
| Financial debts | 43 | €5,400 | - | -€5,400 | |
| Credit institutions | 430/8 | €5,400 | - | -€5,400 | |
| Trade debts | 44 | €41,502 | €25,265 | -€16,237 | -39.1% |
| Suppliers | 440/4 | €41,502 | €25,265 | -€16,237 | -39.1% |
| Taxes, remuneration and social security | 45 | €37,181 | €25,830 | -€11,350 | -30.5% |
| Taxes | 450/3 | €14,215 | €13,779 | -€435 | -3.1% |
| Remuneration and social security | 454/9 | €22,966 | €12,051 | -€10,915 | -47.5% |
| Other amounts payable | 47/48 | €108,854 | €124,454 | +€15,600 | +14.3% |
| Accrued charges and deferred income | 492/3 | €695 | €7 | -€688 | -99.0% |
| Remuneration, social security and pensions | 62 | €240,925 | €245,350 | +€4,425 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400 | €400 | = | 0.0% |
| Other operating charges | 640/8 | €6,145 | €6,231 | +€86 | +1.4% |
| Gross operating margin | 9900 | €230,346 | €255,003 | +€24,657 | +10.7% |
| Operating profit (loss) | 9901 | -€17,124 | €3,022 | +€20,146 | |
| Financial income | 75/76B | €970 | €8,752 | +€7,781 | +802% |
| Recurring financial income | 75 | €970 | €8,752 | +€7,781 | +802% |
| Financial charges | 65/66B | €2,369 | €2,600 | +€231 | +9.8% |
| Recurring financial charges | 65 | €2,369 | €2,600 | +€231 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | -€18,522 | €9,174 | +€27,697 | |
| Income taxes | 67/77 | €220 | €228 | +€8 | +3.8% |
| Profit (loss) for the period | 9904 | -€18,742 | €8,946 | +€27,688 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,742 | €8,946 | +€27,688 |
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.