Refurb Pro: 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.
Refurb Pro
Largest movements
- Cash -€93,296
down €93,296 (-86.9%), from €107,383 to €14,088
mainly Net result for the year (-€58,558) and Debts after one year (-€44,433)
- Tangible fixed assets -€70,202
down €70,202 (-6.5%), from €1.1m to €1.0m
- Receivables within one year -€20,104
down €20,104 (-42.3%), from €47,473 to €27,369
of which Trade receivables: -€20,344
- Stocks and contracts +€14,685
up €14,685 (+36.7%), from €40,023 to €54,708
- Profit (loss) carried forward -€57,420
down €57,420 (-656.2%), from -€8,751 to -€66,171
- Debts after one year -€44,433
down €44,433 (-10.9%), from €405,860 to €361,427
of which Financial debts: -€44,433
- Trade debts -€42,260
down €42,260 (-77.5%), from €54,515 to €12,255
- Reserves -€29,837
down €29,837 (-6.6%), from €449,067 to €419,230
of which Distributable reserves: -€28,700
- Gross operating margin -€21,676
down €21,676 (-32.0%), from €67,839 to €46,163
- Taxes -€8,741
down €8,741 (-97.1%), from €9,002 to €261
- Financial charges -€4,901
down €4,901 (-16.9%), from €29,049 to €24,149
- Other operating charges -€680
down €680 (-6.0%), from €11,375 to €10,695
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 | €1,280,145 | €1,110,290 | -€169,855 | -13.3% |
| Fixed assets | 21/28 | €1,074,181 | €1,003,978 | -€70,202 | -6.5% |
| Tangible fixed assets | 22/27 | €1,074,181 | €1,003,978 | -€70,202 | -6.5% |
| Land and buildings | 22 | €1,074,181 | €1,003,978 | -€70,202 | -6.5% |
| Current assets | 29/58 | €205,964 | €106,312 | -€99,652 | -48.4% |
| Stocks and contracts in progress | 3 | €40,023 | €54,708 | +€14,685 | +36.7% |
| Stocks | 30/36 | €40,023 | €54,708 | +€14,685 | +36.7% |
| Amounts receivable within one year | 40/41 | €47,473 | €27,369 | -€20,104 | -42.3% |
| Trade receivables | 40 | €41,919 | €21,576 | -€20,344 | -48.5% |
| Other amounts receivable | 41 | €5,554 | €5,793 | +€239 | +4.3% |
| Cash at bank and in hand | 54/58 | €107,383 | €14,088 | -€93,296 | -86.9% |
| Deferred charges and accrued income | 490/1 | €11,084 | €10,147 | -€937 | -8.5% |
| Total equity and liabilities | 10/49 | €1,280,145 | €1,110,290 | -€169,855 | -13.3% |
| Equity | 10/15 | €733,917 | €646,659 | -€87,258 | -11.9% |
| Contributions | 10/11 | €293,600 | €293,600 | = | 0.0% |
| Outside capital | 11 | €293,600 | €293,600 | = | 0.0% |
| Other | 1109/19 | €293,600 | €293,600 | = | 0.0% |
| Reserves | 13 | €449,067 | €419,230 | -€29,837 | -6.6% |
| Tax-exempt reserves | 132 | €47,690 | €46,552 | -€1,137 | -2.4% |
| Distributable reserves | 133 | €401,377 | €372,677 | -€28,700 | -7.2% |
| Profit (loss) carried forward | 14 | -€8,751 | -€66,171 | -€57,420 | -656.2% |
| Provisions and deferred taxes | 16 | €7,435 | €6,850 | -€586 | -7.9% |
| Deferred taxes | 168 | €7,435 | €6,850 | -€586 | -7.9% |
| Amounts payable | 17/49 | €538,793 | €456,781 | -€82,011 | -15.2% |
| Amounts payable after more than one year | 17 | €405,860 | €361,427 | -€44,433 | -10.9% |
| Financial debts | 170/4 | €267,860 | €223,427 | -€44,433 | -16.6% |
| Other amounts payable | 178/9 | €138,000 | €138,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €121,580 | €83,714 | -€37,866 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €51,933 | €44,433 | -€7,501 | -14.4% |
| Trade debts | 44 | €54,515 | €12,255 | -€42,260 | -77.5% |
| Suppliers | 440/4 | €54,515 | €12,255 | -€42,260 | -77.5% |
| Advances received on contracts in progress | 46 | €1,990 | €14,545 | +€12,555 | +630.9% |
| Taxes, remuneration and social security | 45 | €2 | €4 | +€2 | +117.4% |
| Taxes | 450/3 | €2 | €4 | +€2 | +117.4% |
| Other amounts payable | 47/48 | €13,140 | €12,478 | -€662 | -5.0% |
| Accrued charges and deferred income | 492/3 | €11,353 | €11,640 | +€287 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,190 | €70,202 | +€12 | 0.0% |
| Other operating charges | 640/8 | €11,375 | €10,695 | -€680 | -6.0% |
| Gross operating margin | 9900 | €67,839 | €46,163 | -€21,676 | -32.0% |
| Operating profit (loss) | 9901 | -€13,727 | -€34,734 | -€21,008 | -153.0% |
| Financial income | 75/76B | €27 | €1 | -€26 | -97.6% |
| Recurring financial income | 75 | €27 | €1 | -€26 | -97.6% |
| Financial charges | 65/66B | €29,049 | €24,149 | -€4,901 | -16.9% |
| Recurring financial charges | 65 | €29,049 | €24,149 | -€4,901 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | -€42,749 | -€58,882 | -€16,133 | -37.7% |
| Transfer from deferred taxes | 780 | €592 | €586 | -€6 | -1.1% |
| Income taxes | 67/77 | €9,002 | €261 | -€8,741 | -97.1% |
| Profit (loss) for the period | 9904 | -€51,159 | -€58,558 | -€7,398 | -14.5% |
| Transfer from tax-exempt reserves | 789 | €1,150 | €1,137 | -€12 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,009 | -€57,420 | -€7,411 | -14.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.