ONE REFRACTORIES: 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.
What changed
ONE REFRACTORIES
NACE 08.111, Other mining and quarrying
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €1.7m-€166,691
Equity
€5.7m
2024 · €4.2m+€1.5m
Cash
€1.5m
2024 · €1.3m+€212,486
Balance sheet total
€11.1m
2024 · €10.2m+€932,401
Largest movements
Assets
- Tangible fixed assets +€1.0m
up €1.0m (+150%), from €675,986 to €1.7m
of which Land and buildings: +€1.0m
- Receivables within one year -€386,196
down €386,196 (-9.3%), from €4.2m to €3.8m
of which Trade receivables: -€267,831
- Cash +€212,486
up €212,486 (+15.9%), from €1.3m to €1.5m
mainly Net result for the year (+€1.5m) and Receivables within one year (+€386,196)
- Receivables after one year +€204,433
up €204,433 (+366%), from €55,897 to €260,331
- Deferred charges and accrued income -€182,542
down €182,542 (-87.2%), from €209,423 to €26,881
Equity and liabilities
- Reserves +€1.5m
up €1.5m (+39.1%), from €3.9m to €5.4m
of which Distributable reserves: +€1.4m
- Trade debts -€1.4m
down €1.4m (-60.4%), from €2.3m to €894,281
- Debts after one year +€280,323
new in 2025: €280,323
- Current portion of long-term debt +€251,068
new in 2025: €251,068
- Other debts +€210,069
up €210,069 (+6.0%), from €3.5m to €3.7m
Income statement
- Turnover +€1.0m
up €1.0m (+7.9%), from €12.9m to €13.9m
- Goods and materials +€620,836
up €620,836 (+7.9%), from €7.8m to €8.4m
of which Purchases: +€858,198
- Taxes +€142,914
up €142,914 (+37.5%), from €381,473 to €524,388
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.
Result 2024
€1.7m
Turnover
+€1.0m
Other operating income
-€1,276
Goods and materials
-€620,836
Services and other goods
-€12,239
Staff costs
-€84,276
Depreciation
-€28,519
Write-downs
+€38,795
Other operating charges
-€6,105
Other operating items
-€279,529
Financial income
+€36,089
Financial charges
-€81,450
Taxes
-€142,914
Result 2025
€1.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€836,127
Investment
-€1.2m
Financing
+€531,391
Cash 2024
€1.3m
From operations (derived)
+€836,127
Net result for the year
+€1.5m
Depreciation
+€144,395
Receivables after one year
-€204,433
Stocks and contracts
-€73,583
Receivables within one year
+€386,196
Deferred charges and accrued income
+€182,542
Trade debts
-€1.4m
Tax, wage and social debts
+€28,792
Advances received
+€4,966
Other debts
+€210,069
Accrued charges and deferred income
-€9,847
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Current investments
-€327
Financing
+€531,391
Debts after one year
+€280,323
Current portion of long-term debt
+€251,068
Cash 2025
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,159,275 | €11,091,676 | +€932,401 | +9.2% |
| Fixed assets | 21/28 | €700,336 | €1,710,645 | +€1.0m | +144% |
| Intangible fixed assets | 21 | €24,350 | €23,607 | -€743 | -3.1% |
| Tangible fixed assets | 22/27 | €675,986 | €1,687,039 | +€1.0m | +150% |
| Land and buildings | 22 | €220,841 | €1,249,742 | +€1.0m | +466% |
| Plant, machinery and equipment | 23 | €381,319 | €336,870 | -€44,449 | -11.7% |
| Furniture and vehicles | 24 | €73,826 | €100,427 | +€26,600 | +36.0% |
| Current assets | 29/58 | €9,458,940 | €9,381,031 | -€77,909 | -0.8% |
| Amounts receivable after more than one year | 29 | €55,897 | €260,331 | +€204,433 | +366% |
| Other amounts receivable | 291 | €55,897 | €260,331 | +€204,433 | +366% |
| Stocks and contracts in progress | 3 | €3,673,785 | €3,747,368 | +€73,583 | +2.0% |
| Stocks | 30/36 | €3,673,785 | €3,747,368 | +€73,583 | +2.0% |
| Raw materials and consumables | 30/31 | €3,277,616 | €3,534,613 | +€256,997 | +7.8% |
| Finished goods | 33 | €356,491 | €212,755 | -€143,736 | -40.3% |
| Goods purchased for resale | 34 | €39,678 | - | -€39,678 | |
| Amounts receivable within one year | 40/41 | €4,161,437 | €3,775,241 | -€386,196 | -9.3% |
| Trade receivables | 40 | €3,998,957 | €3,731,126 | -€267,831 | -6.7% |
| Other amounts receivable | 41 | €162,480 | €44,114 | -€118,365 | -72.8% |
| Current investments | 50/53 | €26,062 | €26,389 | +€327 | +1.3% |
| Other investments | 51/53 | €26,062 | €26,389 | +€327 | +1.3% |
| Cash at bank and in hand | 54/58 | €1,332,335 | €1,544,822 | +€212,486 | +15.9% |
| Deferred charges and accrued income | 490/1 | €209,423 | €26,881 | -€182,542 | -87.2% |
| Total equity and liabilities | 10/49 | €10,159,275 | €11,091,676 | +€932,401 | +9.2% |
| Equity | 10/15 | €4,210,714 | €5,740,573 | +€1.5m | +36.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Revaluation surpluses | 12 | €873 | €873 | = | 0.0% |
| Reserves | 13 | €3,909,840 | €5,439,699 | +€1.5m | +39.1% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,464,240 | €1,548,440 | +€84,200 | +5.8% |
| Distributable reserves | 133 | €2,415,600 | €3,861,259 | +€1.4m | +59.8% |
| Amounts payable | 17/49 | €5,948,562 | €5,351,103 | -€597,458 | -10.0% |
| Amounts payable after more than one year | 17 | - | €280,323 | +€280,323 | |
| Financial debts | 170/4 | - | €280,323 | +€280,323 | |
| Credit institutions | 173 | - | €280,323 | +€280,323 | |
| Amounts payable within one year | 42/48 | €5,927,557 | €5,059,623 | -€867,934 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | - | €251,068 | +€251,068 | |
| Trade debts | 44 | €2,257,109 | €894,281 | -€1.4m | -60.4% |
| Suppliers | 440/4 | €2,257,109 | €894,281 | -€1.4m | -60.4% |
| Advances received on contracts in progress | 46 | €7,048 | €12,013 | +€4,966 | +70.5% |
| Taxes, remuneration and social security | 45 | €163,401 | €192,193 | +€28,792 | +17.6% |
| Taxes | 450/3 | €38,554 | €95,330 | +€56,775 | +147% |
| Remuneration and social security | 454/9 | €124,846 | €96,863 | -€27,983 | -22.4% |
| Other amounts payable | 47/48 | €3,500,000 | €3,710,069 | +€210,069 | +6.0% |
| Accrued charges and deferred income | 492/3 | €21,004 | €11,158 | -€9,847 | -46.9% |
| Operating income | 70/76A | €13,032,296 | €13,767,061 | +€734,764 | +5.6% |
| Turnover | 70 | €12,866,131 | €13,881,701 | +€1.0m | +7.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €105,724 | -€143,736 | -€249,460 | |
| Other operating income | 74 | €22,444 | €21,167 | -€1,276 | -5.7% |
| Non-recurring operating income | 76A | €37,997 | €7,928 | -€30,070 | -79.1% |
| Operating charges | 60/66A | €10,960,847 | €11,674,027 | +€713,180 | +6.5% |
| Goods for resale, raw materials and consumables | 60 | €7,813,628 | €8,434,464 | +€620,836 | +7.9% |
| Purchases | 600/8 | €7,793,585 | €8,651,783 | +€858,198 | +11.0% |
| Change in stocks: decrease (increase) | 609 | €20,043 | -€217,319 | -€237,362 | |
| Services and other goods | 61 | €1,969,215 | €1,981,454 | +€12,239 | +0.6% |
| Remuneration, social security and pensions | 62 | €1,004,980 | €1,089,255 | +€84,276 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,876 | €144,395 | +€28,519 | +24.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,542 | -€14,253 | -€38,795 | |
| Other operating charges | 640/8 | €32,607 | €38,712 | +€6,105 | +18.7% |
| Operating profit (loss) | 9901 | €2,071,449 | €2,093,034 | +€21,584 | +1.0% |
| Financial income | 75/76B | €12,515 | €48,604 | +€36,089 | +288% |
| Recurring financial income | 75 | €12,515 | €48,604 | +€36,089 | +288% |
| Income from financial fixed assets | 750 | €171 | €13,188 | +€13,017 | +7,631% |
| Income from current assets | 751 | €1,863 | €3,945 | +€2,082 | +112% |
| Other financial income | 752/9 | €10,481 | €31,471 | +€20,990 | +200% |
| Financial charges | 65/66B | €5,941 | €87,390 | +€81,450 | +1,371% |
| Recurring financial charges | 65 | €5,941 | €87,390 | +€81,450 | +1,371% |
| Debt charges | 650 | €327 | €65,000 | +€64,674 | +19,792% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€3,671 | - | +€3,671 | |
| Other financial charges | 652/9 | €9,285 | €22,390 | +€13,105 | +141% |
| Profit (loss) for the period before taxes | 9903 | €2,078,023 | €2,054,247 | -€23,776 | -1.1% |
| Income taxes | 67/77 | €381,473 | €524,388 | +€142,914 | +37.5% |
| Taxes | 670/3 | €574,288 | €524,388 | -€49,900 | -8.7% |
| Tax adjustments and reversals of tax provisions | 77 | €192,815 | - | -€192,815 | |
| Profit (loss) for the period | 9904 | €1,696,550 | €1,529,859 | -€166,691 | -9.8% |
| Transfer from tax-exempt reserves | 789 | - | €568,350 | +€568,350 | |
| Transfer to tax-exempt reserves | 689 | - | €652,550 | +€652,550 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,696,550 | €1,445,659 | -€250,891 | -14.8% |
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 18 October 2026 via checked.be.