REFUGIUM: 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.
REFUGIUM
Largest movements
- Cash +€106,914
up €106,914 (+1664.3%), from €6,424 to €113,338
mainly Net result for the year (+€141,935) and Tax, wage and social debts (+€53,117)
- Receivables within one year +€75,796
up €75,796 (+461.9%), from €16,410 to €92,206
of which Trade receivables: +€73,938
- Stocks and contracts +€22,681
up €22,681 (+13.4%), from €169,004 to €191,685
- Profit (loss) carried forward +€141,935
up €141,935 (+775.3%), from €18,306 to €160,241
- Tax, wage and social debts +€53,117
up €53,117 (+659.6%), from €8,052 to €61,169
- Trade debts +€5,307
up €5,307 (+49.7%), from €10,680 to €15,986
- Accrued charges and deferred income +€4,333
up €4,333 (+536.6%), from €807 to €5,140
- Gross operating margin +€181,038
up €181,038 (+501.0%), from €36,136 to €217,175
- Taxes +€52,895
up €52,895 (+848.6%), from €6,233 to €59,128
- Financial charges +€4,948
up €4,948 (+66.5%), from €7,443 to €12,391
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 | €201,790 | €404,299 | +€202,509 | +100.4% |
| Fixed assets | 21/28 | €9,952 | €7,070 | -€2,882 | -29.0% |
| Intangible fixed assets | 21 | €3,078 | €2,308 | -€770 | -25.0% |
| Tangible fixed assets | 22/27 | €6,874 | €4,762 | -€2,112 | -30.7% |
| Plant, machinery and equipment | 23 | €2,804 | €1,710 | -€1,094 | -39.0% |
| Furniture and vehicles | 24 | €4,070 | €3,052 | -€1,018 | -25.0% |
| Current assets | 29/58 | €191,838 | €397,229 | +€205,391 | +107.1% |
| Stocks and contracts in progress | 3 | €169,004 | €191,685 | +€22,681 | +13.4% |
| Stocks | 30/36 | €169,004 | €191,685 | +€22,681 | +13.4% |
| Amounts receivable within one year | 40/41 | €16,410 | €92,206 | +€75,796 | +461.9% |
| Trade receivables | 40 | €15,015 | €88,953 | +€73,938 | +492.4% |
| Other amounts receivable | 41 | €1,395 | €3,253 | +€1,858 | +133.2% |
| Cash at bank and in hand | 54/58 | €6,424 | €113,338 | +€106,914 | +1664.3% |
| Total equity and liabilities | 10/49 | €201,790 | €404,299 | +€202,509 | +100.4% |
| Equity | 10/15 | €20,306 | €162,241 | +€141,935 | +699.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,306 | €160,241 | +€141,935 | +775.3% |
| Amounts payable | 17/49 | €181,484 | €242,058 | +€60,574 | +33.4% |
| Amounts payable within one year | 42/48 | €180,676 | €236,917 | +€56,241 | +31.1% |
| Trade debts | 44 | €10,680 | €15,986 | +€5,307 | +49.7% |
| Suppliers | 440/4 | €10,680 | €15,986 | +€5,307 | +49.7% |
| Taxes, remuneration and social security | 45 | €8,052 | €61,169 | +€53,117 | +659.6% |
| Taxes | 450/3 | €8,052 | €61,169 | +€53,117 | +659.6% |
| Other amounts payable | 47/48 | €161,944 | €159,762 | -€2,182 | -1.3% |
| Accrued charges and deferred income | 492/3 | €807 | €5,140 | +€4,333 | +536.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,264 | €2,882 | -€382 | -11.7% |
| Other operating charges | 640/8 | €384 | €939 | +€555 | +144.2% |
| Gross operating margin | 9900 | €36,136 | €217,175 | +€181,038 | +501.0% |
| Operating profit (loss) | 9901 | €32,488 | €213,354 | +€180,866 | +556.7% |
| Financial income | 75/76B | €40 | €100 | +€59 | +147.2% |
| Recurring financial income | 75 | €40 | €100 | +€59 | +147.2% |
| Financial charges | 65/66B | €7,443 | €12,391 | +€4,948 | +66.5% |
| Recurring financial charges | 65 | €7,443 | €12,391 | +€4,948 | +66.5% |
| Profit (loss) for the period before taxes | 9903 | €25,085 | €201,063 | +€175,978 | +701.5% |
| Income taxes | 67/77 | €6,233 | €59,128 | +€52,895 | +848.6% |
| Profit (loss) for the period | 9904 | €18,852 | €141,935 | +€123,083 | +652.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,852 | €141,935 | +€123,083 | +652.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.