SURMACO
ActiveSummary
SURMACO has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €359k and a net result of €518k. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 26% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+5
Solvency50▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 3.58 against 2.18 in 2024; short-term debt: 9.8% and cash: 28.8% of total assets), but 75.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
24.6%
Return on assets
35.5%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
3 d early
2024
16 d early
2023
90 d early
2022
52 d early
2021
5 d early
2020
9 d early
2019
87 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€359k▲ 92.7%
2024 · €186k
2018: €35klowest in 8 years
2019: €120k▲ +245% vs 2018
2020: €207k▲ +72.2% vs 2019
2021: €306k▲ +47.5% vs 2020
2022: €258k▼ -15.6% vs 2021
2023: €259k▲ +0.1% vs 2022
2024: €186k▼ -28.0% vs 2023
2025: €359k▲ +92.7% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.46M▲ 6.0%
2024 · €1.38M
2018: €50klowest in 8 years
2019: €404k▲ +705% vs 2018
2020: €744k▲ +84.2% vs 2019
2021: €739k▼ -0.6% vs 2020
2022: €737k▼ -0.3% vs 2021
2023: €615k▼ -16.5% vs 2022
2024: €1.38M▲ +124% vs 2023
2025: €1.46M▲ +6.0% vs 2024highest in 8 years
2018 → 2025
Net result
€518k▲ 209%
2024 · €168k
2018: €29klowest in 8 years
2019: €73k▲ +154% vs 2018
2020: €87k▲ +18.9% vs 2019
2021: €99k▲ +13.3% vs 2020
2022: €107k▲ +9.0% vs 2021
2023: €200k▲ +86.6% vs 2022
2024: €168k▼ -16.4% vs 2023
2025: €518k▲ +209% vs 2024highest in 8 years
2018 → 2025
Working capital
€370k▲ 68.5%
2024 · €219k
2018: €35klowest in 8 years
2019: €221k▲ +530% vs 2018
2020: €542k▲ +145% vs 2019
2021: €558k▲ +3.0% vs 2020highest in 8 years
2022: €456k▼ -18.4% vs 2021
2023: €438k▼ -3.9% vs 2022
2024: €219k▼ -49.9% vs 2023
2025: €370k▲ +68.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€306k-€258k▼ 15.6%€259k▲ 0.1%€186k▼ 28.0%€359k▲ 92.7%
2021: €306k
2022: €258k▼ -15.6% vs 2021
2023: €259k▲ +0.1% vs 2022
2024: €186k▼ -28.0% vs 2023lowest in 5 years
2025: €359k▲ +92.7% vs 2024highest in 5 years
Operating result€126k-€137k▲ 8.6%€247k▲ 80.0%€-10k€63k
2021: €126k
2022: €137k▲ +8.6% vs 2021
2023: €247k▲ +80.0% vs 2022highest in 5 years
2024: €-10k▼ -104% vs 2023lowest in 5 years
2025: €63k▲ +736% vs 2024
Net result€99k-€107k▲ 9.0%€200k▲ 86.6%€168k▼ 16.4%€518k▲ 209%
2021: €99klowest in 5 years
2022: €107k▲ +9.0% vs 2021
2023: €200k▲ +86.6% vs 2022
2024: €168k▼ -16.4% vs 2023
2025: €518k▲ +209% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €63k after a loss of €10k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.46M
Fixed assets
€945k ▼ 2.5%
Current assets
€513k ▲ 26.5%
Equity and liabilities €1.46M
Equity
€359k ▲ 92.7%
Debt
€1.10M ▼ 7.6%
Debt's share of the balance-sheet total falls from 86.4% to 75.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€149k▲
2024 · €137k
Cash flow
€603k▲
2024 · €314k
Current ratio
3.58▲
2024 · 2.18
Debt to equity
3.06▼
2024 · 6.38
ROE
144.2%▲
2024 · 89.9%
ROA
35.5%▲
2024 · 12.2%
Interest coverage
3.62▼
2024 · 4.97
Debt ≤ 1 year
€143k▼
2024 · €186k
Debt > 1 year
€952k▼
2024 · €1.00M
Income taxes
€4k▲
2024 · €552
Staff costs
€43k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.38M€1.46M▲
Fixed assets21/28€970k€945k▼
Intangible fixed assets21€6k€5k▼
Tangible fixed assets22/27€865k€843k▼
Land and buildings22€707k€696k▼
Plant, machinery and equipment23-€5k
Furniture and vehicles24€159k€139k▼
Other tangible fixed assets26-€3k
Financial fixed assets28€98k€98k=
Current assets29/58€405k€513k▲
Amounts receivable within one year40/41€81k€85k▲
Trade receivables40€63k€54k▼
Other amounts receivable41€19k€31k▲
Current investments50/53€0-
Cash at bank and in hand54/58€319k€420k▲
Deferred charges and accrued income490/1€5k€7k▲
Equity and liabilities
Total equity and liabilities10/49€1.38M€1.46M▲
Equity10/15€186k€359k▲
Contributions10/11€19k€19k=
Reserves13€168k€341k▲
Distributable reserves133€168k€341k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.19M€1.10M▼
Amounts payable after more than one year17€1.00M€952k▼
Financial debts170/4€1.00M€952k▼
Amounts payable within one year42/48€186k€143k▼
Current portion of amounts payable after more than one year42€50k€52k▲
Financial debts43€0-
Other loans439€0-
Trade debts44€18k€13k▼
Suppliers440/4€18k€13k▼
Taxes, remuneration and social security45€32k€51k▲
Taxes450/3€23k€37k▲
Remuneration and social security454/9€9k€14k▲
Other amounts payable47/48€87k€28k▼
Accrued charges and deferred income492/3€809€4k▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62-€43k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€147k€86k▼
Other operating charges640/8€3k€3k▲
Gross operating margin9900€139k€195k▲
Operating profit (loss)9901€-10k€63k▲
Financial income75/76B€206k€500k▲
Recurring financial income75€206k€500k▲
Financial charges65/66B€28k€41k▲
Recurring financial charges65€28k€41k▲
Profit (loss) for the period before taxes9903€168k€522k▲
Income taxes67/77€552€4k▲
Profit (loss) for the period9904€168k€518k▲
Profit (loss) for the period to be appropriated9905€168k€518k▲
Appropriation of the result
Profit (loss) to be appropriated9906€168k€518k▲
Transfer from equity791/2€240k€165k▼
Transfer to equity691/2€168k€338k▲
To other reserves6921€168k€338k▲
Profit to be distributed694/7€240k€345k▲
Return on contributions (dividend)694€240k€345k▲
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €80k | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €43k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €5k | €7k | €147k | €86k | ▼ 41.6% |
| Other operating charges640/8 | €1k | €2k | €1k | €3k | €3k | ▲ 0.5% |
| Gross operating margin9900 | €132k | €145k | €255k | €139k | €195k | ▲ 39.7% |
| Operating profit (loss)9901 | €126k | €137k | €247k | €-10k | €63k | ▲ 736% |
| Financial income75/76B | €5k | €5k | €2k | €206k | €500k | ▲ 143% |
| Recurring financial income75 | €5k | €5k | €2k | €206k | €500k | ▲ 143% |
| Financial charges65/66B | €5k | €5k | €12k | €28k | €41k | ▲ 49.8% |
| Recurring financial charges65 | €5k | €5k | €12k | €28k | €41k | ▲ 49.8% |
| Profit (loss) for the period before taxes9903 | €126k | €138k | €236k | €168k | €522k | ▲ 211% |
| Income taxes67/77 | €28k | €31k | €36k | €552 | €4k | ▲ 685% |
| Profit (loss) for the period9904 | €99k | €107k | €200k | €168k | €518k | ▲ 209% |
| Profit (loss) for the period to be appropriated9905 | €99k | €107k | €200k | €168k | €518k | ▲ 209% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €739k | €737k | €615k | €1.38M | €1.46M | ▲ 6.0% |
| Fixed assets21/28 | €113k | €115k | €121k | €970k | €945k | ▼ 2.5% |
| Intangible fixed assets21 | - | - | €8k | €6k | €5k | ▼ 26.9% |
| Tangible fixed assets22/27 | €13k | €15k | €15k | €865k | €843k | ▼ 2.6% |
| Land and buildings22 | - | - | - | €707k | €696k | ▼ 1.5% |
| Plant, machinery and equipment23 | - | - | - | - | €5k | - |
| Furniture and vehicles24 | €13k | €15k | €15k | €159k | €139k | ▼ 12.3% |
| Other tangible fixed assets26 | - | - | - | - | €3k | - |
| Financial fixed assets28 | €100k | €100k | €98k | €98k | €98k | = |
| Current assets29/58 | €626k | €622k | €493k | €405k | €513k | ▲ 26.5% |
| Amounts receivable after more than one year29 | €500k | €0 | - | - | - | - |
| Other amounts receivable291 | €500k | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €82k | €607k | €56k | €81k | €85k | ▲ 4.6% |
| Trade receivables40 | €71k | €102k | €47k | €63k | €54k | ▼ 13.4% |
| Other amounts receivable41 | €11k | €505k | €9k | €19k | €31k | ▲ 65.4% |
| Current investments50/53 | - | - | €250k | €0 | - | - |
| Cash at bank and in hand54/58 | €42k | €11k | €184k | €319k | €420k | ▲ 31.7% |
| Deferred charges and accrued income490/1 | €1k | €4k | €3k | €5k | €7k | ▲ 46.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €739k | €737k | €615k | €1.38M | €1.46M | ▲ 6.0% |
| Equity10/15 | €306k | €258k | €259k | €186k | €359k | ▲ 92.7% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €287k | €240k | €240k | €168k | €341k | ▲ 103% |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Distributable reserves133 | €286k | €238k | €240k | €168k | €341k | ▲ 103% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €433k | €478k | €356k | €1.19M | €1.10M | ▼ 7.6% |
| Amounts payable after more than one year17 | €365k | €312k | €300k | €1.00M | €952k | ▼ 5.0% |
| Financial debts170/4 | €332k | €312k | €300k | €1.00M | €952k | ▼ 5.0% |
| Other amounts payable178/9 | €33k | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €68k | €166k | €56k | €186k | €143k | ▼ 23.1% |
| Current portion of amounts payable after more than one year42 | €20k | €20k | €12k | €50k | €52k | ▲ 3.7% |
| Financial debts43 | €10k | €10k | €10k | €0 | - | - |
| Other loans439 | €10k | €10k | €10k | €0 | - | - |
| Trade debts44 | €742 | €5k | €6k | €18k | €13k | ▼ 28.2% |
| Suppliers440/4 | €742 | €5k | €6k | €18k | €13k | ▼ 28.2% |
| Taxes, remuneration and social security45 | €34k | €29k | €18k | €32k | €51k | ▲ 60.5% |
| Taxes450/3 | €32k | €27k | €16k | €23k | €37k | ▲ 58.8% |
| Remuneration and social security454/9 | €2k | €2k | €2k | €9k | €14k | ▲ 65.1% |
| Other amounts payable47/48 | €3k | €102k | €10k | €87k | €28k | ▼ 67.9% |
| Accrued charges and deferred income492/3 | €290 | €290 | €290 | €809 | €4k | ▲ 356% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €99k | €107k | €200k | €168k | €518k | ▲ 209% |
| + Depreciation and write-downs630 | €4k | €5k | €7k | €147k | €86k | ▼ 41.6% |
| Operating cash flow (approximation) | €103k | €113k | €207k | €314k | €603k | ▲ 92.0% |
| Investment in fixed assets (approximation) | - | €-7k | €-13k | €-995k | €-61k | ▲ 93.8% |
| Change in cash | - | €-31k | €173k | €135k | €101k | ▼ 25.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €518k ▲209%
Net result €518k, the highest in the series.
31-12
Financial
Equity above €200kEq €359k ▲92.7%
8 profitable years in a row build equity to €359k.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 8.87
Current ratio from 3.74 to 8.87; short-term debt falls from €166k to €56k.
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €200kEq €207k ▲72.2%
3 profitable years in a row build equity to €207k.
05-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €100kEq €120k ▲245%
2 profitable years in a row build equity to €120k.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Oudenaarde · 1 establishment unit since 2018
Ground area
3,126 m²
Building footprint
294 m²
Volume, LiDAR
821 m³
Parcel 45502B0055/00D000, Flanders · tallest building 15.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
SURMACO
since 20182.277.547.231
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45502B0055/00D000 | Flanders | 3,126 m² | 1 · 294 m² | 15.9 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 37,078 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-07-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
71112Activities of interior architects
Scores and ratios are computed by Checked and are not a credit decision.