SCHURMANN: what changed
Two financial 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.
SCHURMANN
Largest movements
- Tangible fixed assets -€1.3m
down €1.3m (-78.0%), from €1.7m to €375,780
of which Land and buildings: -€778,507
- Receivables within one year +€67,887
up €67,887 (+34.2%), from €198,772 to €266,659
of which Other amounts receivable: +€46,491
- Cash +€62,856
up €62,856 (+30.7%), from €204,470 to €267,325
mainly Investment in fixed assets (net) (+€1.2m) and Depreciation (+€169,885)
- Debts after one year -€784,866
down €784,866 (-64.4%), from €1.2m to €433,120
- Profit (loss) carried forward -€265,495
down €265,495 (-64.9%), from €409,330 to €143,835
- Current portion of long-term debt -€157,602
down €157,602 (-54.1%), from €291,577 to €133,975
- Gross operating margin -€193,181
down €193,181 (-31.0%), from €623,103 to €429,921
- Depreciation -€97,692
down €97,692 (-36.5%), from €267,576 to €169,885
- Financial charges -€50,793
down €50,793 (-57.6%), from €88,223 to €37,430
- Staff costs -€40,633
down €40,633 (-75.1%), from €54,069 to €13,436
- Taxes +€16,313
up €16,313 (+60.8%), from €26,815 to €43,128
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 | €2,225,191 | €1,019,871 | -€1.2m | -54.2% |
| Fixed assets | 21/28 | €1,705,325 | €375,879 | -€1.3m | -78.0% |
| Tangible fixed assets | 22/27 | €1,704,351 | €375,780 | -€1.3m | -78.0% |
| Land and buildings | 22 | €778,507 | - | -€778,507 | |
| Plant, machinery and equipment | 23 | €1,738 | €789 | -€949 | -54.6% |
| Furniture and vehicles | 24 | €48,251 | €38,079 | -€10,172 | -21.1% |
| Leasing and similar rights | 25 | €875,855 | €336,912 | -€538,943 | -61.5% |
| Financial fixed assets | 28 | €974 | €99 | -€875 | -89.8% |
| Current assets | 29/58 | €519,865 | €643,992 | +€124,126 | +23.9% |
| Stocks and contracts in progress | 3 | €57,810 | €57,283 | -€527 | -0.9% |
| Stocks | 30/36 | €57,810 | €57,283 | -€527 | -0.9% |
| Amounts receivable within one year | 40/41 | €198,772 | €266,659 | +€67,887 | +34.2% |
| Trade receivables | 40 | €165,663 | €187,060 | +€21,396 | +12.9% |
| Other amounts receivable | 41 | €33,109 | €79,599 | +€46,491 | +140.4% |
| Current investments | 50/53 | €55,000 | €50,000 | -€5,000 | -9.1% |
| Cash at bank and in hand | 54/58 | €204,470 | €267,325 | +€62,856 | +30.7% |
| Deferred charges and accrued income | 490/1 | €3,814 | €2,724 | -€1,090 | -28.6% |
| Total equity and liabilities | 10/49 | €2,225,191 | €1,019,871 | -€1.2m | -54.2% |
| Equity | 10/15 | €419,866 | €145,184 | -€274,682 | -65.4% |
| Contributions | 10/11 | €8,676 | €1,111 | -€7,566 | -87.2% |
| Reserves | 13 | €1,859 | €238 | -€1,621 | -87.2% |
| Distributable reserves | 133 | €1,859 | €238 | -€1,621 | -87.2% |
| Profit (loss) carried forward | 14 | €409,330 | €143,835 | -€265,495 | -64.9% |
| Amounts payable | 17/49 | €1,805,325 | €874,687 | -€930,638 | -51.5% |
| Amounts payable after more than one year | 17 | €1,217,986 | €433,120 | -€784,866 | -64.4% |
| Financial debts | 170/4 | €1,217,986 | €433,120 | -€784,866 | -64.4% |
| Amounts payable within one year | 42/48 | €587,339 | €441,566 | -€145,772 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €291,577 | €133,975 | -€157,602 | -54.1% |
| Trade debts | 44 | €252,048 | €267,610 | +€15,562 | +6.2% |
| Suppliers | 440/4 | €252,048 | €264,154 | +€12,106 | +4.8% |
| Bills of exchange payable | 441 | - | €3,456 | +€3,456 | |
| Taxes, remuneration and social security | 45 | €6,768 | €9,167 | +€2,399 | +35.5% |
| Taxes | 450/3 | €1,438 | €6,532 | +€5,093 | +354.1% |
| Remuneration and social security | 454/9 | €5,329 | €2,636 | -€2,694 | -50.5% |
| Other amounts payable | 47/48 | €36,946 | €30,814 | -€6,132 | -16.6% |
| Remuneration, social security and pensions | 62 | €54,069 | €13,436 | -€40,633 | -75.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €267,576 | €169,885 | -€97,692 | -36.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €582 | €664 | +€82 | +14.1% |
| Other operating charges | 640/8 | €39,474 | €48,406 | +€8,931 | +22.6% |
| Gross operating margin | 9900 | €623,103 | €429,921 | -€193,181 | -31.0% |
| Operating profit (loss) | 9901 | €261,401 | €197,530 | -€63,870 | -24.4% |
| Financial income | 75/76B | €1,514 | €4,473 | +€2,958 | +195.4% |
| Recurring financial income | 75 | €1,514 | €4,473 | +€2,958 | +195.4% |
| Financial charges | 65/66B | €88,223 | €37,430 | -€50,793 | -57.6% |
| Recurring financial charges | 65 | €88,223 | €37,430 | -€50,793 | -57.6% |
| Profit (loss) for the period before taxes | 9903 | €174,692 | €164,573 | -€10,119 | -5.8% |
| Income taxes | 67/77 | €26,815 | €43,128 | +€16,313 | +60.8% |
| Profit (loss) for the period | 9904 | €147,877 | €121,444 | -€26,433 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €147,877 | €121,444 | -€26,433 | -17.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.