Refaqt: 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.
Refaqt
Largest movements
- Tangible fixed assets -€3,743
down €3,743 (-68.8%), from €5,440 to €1,697
- Receivables within one year -€2,807
down €2,807 (-77.5%), from €3,623 to €816
of which Other amounts receivable: -€2,896
- Cash -€224
down €224 (-11.2%), from €2,001 to €1,777
mainly Net result for the year (-€11,929)
- Deferred charges and accrued income -€155
down €155 (-19.6%), from €787 to €633
- Profit (loss) carried forward -€11,929
down €11,929 (-184.0%), from -€6,485 to -€18,413
- Other debts +€5,000
new in 2025: €5,000
- Gross operating margin -€5,390
down €5,390 (-246.1%), from -€2,190 to -€7,580
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 | €11,852 | €4,923 | -€6,929 | -58.5% |
| Fixed assets | 21/28 | €5,440 | €1,697 | -€3,743 | -68.8% |
| Tangible fixed assets | 22/27 | €5,440 | €1,697 | -€3,743 | -68.8% |
| Plant, machinery and equipment | 23 | €5,440 | €1,697 | -€3,743 | -68.8% |
| Current assets | 29/58 | €6,411 | €3,226 | -€3,186 | -49.7% |
| Amounts receivable within one year | 40/41 | €3,623 | €816 | -€2,807 | -77.5% |
| Trade receivables | 40 | - | €89 | +€89 | |
| Other amounts receivable | 41 | €3,623 | €726 | -€2,896 | -79.9% |
| Cash at bank and in hand | 54/58 | €2,001 | €1,777 | -€224 | -11.2% |
| Deferred charges and accrued income | 490/1 | €787 | €633 | -€155 | -19.6% |
| Total equity and liabilities | 10/49 | €11,852 | €4,923 | -€6,929 | -58.5% |
| Equity | 10/15 | €11,852 | -€77 | -€11,929 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,336 | €13,336 | = | 0.0% |
| Distributable reserves | 133 | €13,336 | €13,336 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,485 | -€18,413 | -€11,929 | -184.0% |
| Amounts payable | 17/49 | - | €5,000 | +€5,000 | |
| Amounts payable within one year | 42/48 | - | €5,000 | +€5,000 | |
| Other amounts payable | 47/48 | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,791 | €3,743 | -€48 | -1.3% |
| Other operating charges | 640/8 | €451 | €480 | +€29 | +6.5% |
| Gross operating margin | 9900 | -€2,190 | -€7,580 | -€5,390 | -246.1% |
| Operating profit (loss) | 9901 | -€6,433 | -€11,804 | -€5,371 | -83.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €52 | €125 | +€73 | +141.0% |
| Recurring financial charges | 65 | €52 | €125 | +€73 | +141.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,485 | -€11,929 | -€5,444 | -84.0% |
| Profit (loss) for the period | 9904 | -€6,485 | -€11,929 | -€5,444 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,485 | -€11,929 | -€5,444 | -84.0% |
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 30 September 2026 via checked.be.