LE REFUGE: what changed
Two fiscal 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.
LE REFUGE
Largest movements
- Cash +€31,231
up €31,231 (+58.7%), from €53,198 to €84,429
mainly Net result for the year (+€44,581) and Tax, wage and social debts (+€5,190)
- Receivables within one year +€16,158
up €16,158 (+45.3%), from €35,631 to €51,789
of which Other amounts receivable: +€16,970
- Tangible fixed assets -€4,208
down €4,208 (-24.1%), from €17,461 to €13,253
of which Furniture and vehicles: -€2,329
- Deferred charges and accrued income -€2,041
down €2,041 (-97.6%), from €2,090 to €49
- Profit (loss) carried forward +€44,581
up €44,581 (+61.8%), from €72,180 to €116,761
- Trade debts -€8,631
no longer reported in 2025 (was €8,631)
- Tax, wage and social debts +€5,190
up €5,190 (+18.2%), from €28,451 to €33,641
of which Taxes: +€10,600
- Turnover +€35,001
up €35,001 (+8.9%), from €395,006 to €430,006
- Gross operating margin +€19,609
up €19,609 (+10.5%), from €187,247 to €206,855
- Purchases and services +€15,392
up €15,392 (+7.4%), from €207,759 to €223,151
- Taxes +€11,246
up €11,246 (+132.1%), from €8,512 to €19,758
- Staff costs -€4,637
down €4,637 (-3.5%), from €133,704 to €129,067
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 | €111,245 | €152,385 | +€41,140 | +37.0% |
| Fixed assets | 21/28 | €20,326 | €16,118 | -€4,208 | -20.7% |
| Tangible fixed assets | 22/27 | €17,461 | €13,253 | -€4,208 | -24.1% |
| Land and buildings | 22 | €9,765 | €7,665 | -€2,101 | -21.5% |
| Plant, machinery and equipment | 23 | €4,099 | €4,321 | +€222 | +5.4% |
| Furniture and vehicles | 24 | €3,597 | €1,268 | -€2,329 | -64.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €2,865 | €2,865 | = | 0.0% |
| Current assets | 29/58 | €90,919 | €136,267 | +€45,348 | +49.9% |
| Amounts receivable within one year | 40/41 | €35,631 | €51,789 | +€16,158 | +45.3% |
| Trade receivables | 40 | €3,464 | €2,652 | -€812 | -23.4% |
| Other amounts receivable | 41 | €32,167 | €49,137 | +€16,970 | +52.8% |
| Cash at bank and in hand | 54/58 | €53,198 | €84,429 | +€31,231 | +58.7% |
| Deferred charges and accrued income | 490/1 | €2,090 | €49 | -€2,041 | -97.6% |
| Total equity and liabilities | 10/49 | €111,245 | €152,385 | +€41,140 | +37.0% |
| Equity | 10/15 | €74,163 | €118,744 | +€44,581 | +60.1% |
| Reserves | 13 | €1,983 | €1,983 | = | 0.0% |
| Distributable reserves | 133 | €1,983 | €1,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,180 | €116,761 | +€44,581 | +61.8% |
| Amounts payable | 17/49 | €37,082 | €33,641 | -€3,441 | -9.3% |
| Amounts payable within one year | 42/48 | €37,082 | €33,641 | -€3,441 | -9.3% |
| Trade debts | 44 | €8,631 | - | -€8,631 | |
| Suppliers | 440/4 | €8,631 | - | -€8,631 | |
| Taxes, remuneration and social security | 45 | €28,451 | €33,641 | +€5,190 | +18.2% |
| Taxes | 450/3 | €12,680 | €23,280 | +€10,600 | +83.6% |
| Remuneration and social security | 454/9 | €15,771 | €10,362 | -€5,410 | -34.3% |
| Turnover | 70 | €395,006 | €430,006 | +€35,001 | +8.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €207,759 | €223,151 | +€15,392 | +7.4% |
| Remuneration, social security and pensions | 62 | €133,704 | €129,067 | -€4,637 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,396 | €4,494 | -€3,903 | -46.5% |
| Other operating charges | 640/8 | €5,072 | €6,445 | +€1,373 | +27.1% |
| Gross operating margin | 9900 | €187,247 | €206,855 | +€19,609 | +10.5% |
| Operating profit (loss) | 9901 | €40,074 | €66,849 | +€26,776 | +66.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,362 | €2,511 | +€149 | +6.3% |
| Recurring financial charges | 65 | €2,362 | €2,511 | +€149 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €37,713 | €64,339 | +€26,626 | +70.6% |
| Income taxes | 67/77 | €8,512 | €19,758 | +€11,246 | +132.1% |
| Profit (loss) for the period | 9904 | €29,201 | €44,581 | +€15,380 | +52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,201 | €44,581 | +€15,380 | +52.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.