REFAT-ELECTRIC: 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.
REFAT-ELECTRIC
Largest movements
- Cash +€11,096
up €11,096 (+17.9%), from €61,824 to €72,920
mainly Other debts (+€68,050) and Net result for the year (+€8,822)
- Receivables within one year -€2,259
down €2,259 (-18.8%), from €11,996 to €9,737
of which Trade receivables: -€4,184
- Other debts +€68,050
up €68,050 (+1200.8%), from €5,667 to €73,717
- Profit (loss) carried forward -€48,760
no longer reported in 2025 (was €48,760)
- Reserves -€9,356
down €9,356 (-40.9%), from €22,884 to €13,528
- Tax, wage and social debts -€1,721
no longer reported in 2025 (was €1,721)
- Gross operating margin -€13,332
down €13,332 (-48.2%), from €27,656 to €14,324
- Taxes -€3,053
down €3,053 (-50.1%), from €6,096 to €3,042
- Depreciation -€920
no longer reported in 2025 (was €920)
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 | €106,584 | €115,821 | +€9,237 | +8.7% |
| Fixed assets | 21/28 | €32,289 | €32,289 | = | 0.0% |
| Tangible fixed assets | 22/27 | €32,289 | €32,289 | = | 0.0% |
| Land and buildings | 22 | €32,289 | €32,289 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €74,295 | €83,532 | +€9,237 | +12.4% |
| Amounts receivable within one year | 40/41 | €11,996 | €9,737 | -€2,259 | -18.8% |
| Trade receivables | 40 | €8,089 | €3,905 | -€4,184 | -51.7% |
| Other amounts receivable | 41 | €3,907 | €5,833 | +€1,926 | +49.3% |
| Cash at bank and in hand | 54/58 | €61,824 | €72,920 | +€11,096 | +17.9% |
| Deferred charges and accrued income | 490/1 | €474 | €874 | +€400 | +84.2% |
| Total equity and liabilities | 10/49 | €106,584 | €115,821 | +€9,237 | +8.7% |
| Equity | 10/15 | €99,019 | €40,903 | -€58,116 | -58.7% |
| Contributions | 10/11 | €27,375 | €27,375 | = | 0.0% |
| Reserves | 13 | €22,884 | €13,528 | -€9,356 | -40.9% |
| Distributable reserves | 133 | €22,884 | €13,528 | -€9,356 | -40.9% |
| Profit (loss) carried forward | 14 | €48,760 | - | -€48,760 | |
| Amounts payable | 17/49 | €7,565 | €74,918 | +€67,353 | +890.3% |
| Amounts payable within one year | 42/48 | €7,565 | €74,918 | +€67,353 | +890.3% |
| Trade debts | 44 | €177 | €1,201 | +€1,024 | +578.6% |
| Suppliers | 440/4 | €177 | €1,201 | +€1,024 | +578.6% |
| Taxes, remuneration and social security | 45 | €1,721 | - | -€1,721 | |
| Taxes | 450/3 | €1,721 | - | -€1,721 | |
| Other amounts payable | 47/48 | €5,667 | €73,717 | +€68,050 | +1200.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €920 | - | -€920 | |
| Other operating charges | 640/8 | €2,226 | €2,316 | +€89 | +4.0% |
| Gross operating margin | 9900 | €27,656 | €14,324 | -€13,332 | -48.2% |
| Operating profit (loss) | 9901 | €24,510 | €12,009 | -€12,502 | -51.0% |
| Financial income | 75/76B | €9 | €23 | +€14 | +157.3% |
| Recurring financial income | 75 | €9 | €23 | +€14 | +157.3% |
| Financial charges | 65/66B | €137 | €168 | +€31 | +22.9% |
| Recurring financial charges | 65 | €137 | €168 | +€31 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €24,383 | €11,864 | -€12,519 | -51.3% |
| Income taxes | 67/77 | €6,096 | €3,042 | -€3,053 | -50.1% |
| Profit (loss) for the period | 9904 | €18,287 | €8,822 | -€9,465 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,287 | €8,822 | -€9,465 | -51.8% |
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 8 October 2026 via checked.be.