No; You cannot;
Windows 8
and Windows 8.1
kernel is different. Sadly Microsoft never communicated this and does not actually ever offer you a chance to create an .ISO of Windows 8.1
when the update is installed.
This means the installation disk you have won't allow you to refresh your computer. You will need a Windows 8.1 installation disk of the same type as your current installation to Refresh/Reset your computer.
Its also a good idea to update the Refresh image itself once you have your system in a state you want it. You should store this image on the system disk and on another disk as a backup.