SURCOUF: 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.
SURCOUF
Largest movements
- Tangible fixed assets +€579,513
up €579,513 (+249%), from €232,535 to €812,048
of which Assets under construction and advance payments: +€604,500
- Receivables within one year +€40,402
up €40,402 (+963%), from €4,194 to €44,596
of which Trade receivables: +€30,036
- Current investments +€14,356
up €14,356 (+40.9%), from €35,081 to €49,438
- Other debts +€604,173
up €604,173 (+442%), from €136,618 to €740,791
- Profit (loss) carried forward +€34,382
up €34,382 (+36.5%), from -€94,091 to -€59,709
- Debts after one year -€10,258
down €10,258 (-48.1%), from €21,317 to €11,059
- Gross operating margin +€49,671
up €49,671 (+20.8%), from €239,280 to €288,951
- Staff costs +€8,651
up €8,651 (+5.9%), from €145,619 to €154,270
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.
Derived cash bridge
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 | €285,751 | €914,553 | +€628,802 | +220% |
| Fixed assets | 21/28 | €233,627 | €813,140 | +€579,513 | +248% |
| Tangible fixed assets | 22/27 | €232,535 | €812,048 | +€579,513 | +249% |
| Plant, machinery and equipment | 23 | €218,271 | €201,457 | -€16,814 | -7.7% |
| Furniture and vehicles | 24 | €14,264 | €6,090 | -€8,173 | -57.3% |
| Assets under construction and advance payments | 27 | - | €604,500 | +€604,500 | |
| Financial fixed assets | 28 | €1,092 | €1,092 | = | 0.0% |
| Current assets | 29/58 | €52,125 | €101,413 | +€49,288 | +94.6% |
| Amounts receivable within one year | 40/41 | €4,194 | €44,596 | +€40,402 | +963% |
| Trade receivables | 40 | - | €30,036 | +€30,036 | |
| Other amounts receivable | 41 | €4,194 | €14,560 | +€10,367 | +247% |
| Current investments | 50/53 | €35,081 | €49,438 | +€14,356 | +40.9% |
| Cash at bank and in hand | 54/58 | €9,215 | €3,711 | -€5,504 | -59.7% |
| Deferred charges and accrued income | 490/1 | €3,635 | €3,669 | +€33 | +0.9% |
| Total equity and liabilities | 10/49 | €285,751 | €914,553 | +€628,802 | +220% |
| Equity | 10/15 | €86,821 | €121,203 | +€34,382 | +39.6% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €131,333 | €131,333 | = | 0.0% |
| Distributable reserves | 133 | €131,333 | €131,333 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,091 | -€59,709 | +€34,382 | +36.5% |
| Amounts payable | 17/49 | €198,930 | €793,350 | +€594,420 | +299% |
| Amounts payable after more than one year | 17 | €21,317 | €11,059 | -€10,258 | -48.1% |
| Financial debts | 170/4 | €21,317 | €11,059 | -€10,258 | -48.1% |
| Amounts payable within one year | 42/48 | €177,613 | €782,291 | +€604,678 | +340% |
| Current portion of amounts payable after more than one year | 42 | €12,101 | €10,258 | -€1,843 | -15.2% |
| Trade debts | 44 | €22,761 | €23,690 | +€929 | +4.1% |
| Suppliers | 440/4 | €22,761 | €23,690 | +€929 | +4.1% |
| Taxes, remuneration and social security | 45 | €6,133 | €7,552 | +€1,419 | +23.1% |
| Taxes | 450/3 | €36 | €18 | -€18 | -49.9% |
| Remuneration and social security | 454/9 | €6,097 | €7,534 | +€1,437 | +23.6% |
| Other amounts payable | 47/48 | €136,618 | €740,791 | +€604,173 | +442% |
| Remuneration, social security and pensions | 62 | €145,619 | €154,270 | +€8,651 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,512 | €98,263 | +€2,751 | +2.9% |
| Other operating charges | 640/8 | €699 | €717 | +€18 | +2.6% |
| Gross operating margin | 9900 | €239,280 | €288,951 | +€49,671 | +20.8% |
| Operating profit (loss) | 9901 | -€2,550 | €35,701 | +€38,251 | |
| Financial income | 75/76B | €53 | €207 | +€155 | +293% |
| Recurring financial income | 75 | €53 | €207 | +€155 | +293% |
| Financial charges | 65/66B | €1,045 | €1,526 | +€481 | +46.0% |
| Recurring financial charges | 65 | €1,045 | €1,526 | +€481 | +46.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,543 | €34,382 | +€37,925 | |
| Profit (loss) for the period | 9904 | -€3,543 | €34,382 | +€37,925 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,543 | €34,382 | +€37,925 |
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 21 October 2026 via checked.be.