SURDENT: 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.
SURDENT
Largest movements
- Current investments +€102,000
up €102,000 (+56.9%), from €179,408 to €281,408
- Cash +€95,593
up €95,593 (+19.4%), from €492,789 to €588,382
mainly Other debts (+€173,538) and Net result for the year (+€76,237)
- Deferred charges and accrued income -€22,898
down €22,898 (-42.5%), from €53,852 to €30,954
- Receivables within one year -€14,699
down €14,699 (-22.6%), from €65,175 to €50,476
of which Other amounts receivable: -€13,356
- Tangible fixed assets +€12,277
up €12,277 (+15.4%), from €79,621 to €91,898
of which Furniture and vehicles: +€13,183
- Other debts +€173,538
up €173,538 (+42.4%), from €409,416 to €582,955
- Reserves +€75,500
up €75,500 (+31.8%), from €237,339 to €312,839
- Provisions -€48,988
down €48,988 (-31.5%), from €155,479 to €106,491
- Debts after one year -€14,812
no longer reported in 2025 (was €14,812)
- Current portion of long-term debt -€11,348
no longer reported in 2025 (was €11,348)
- Provisions -€100,270
down €100,270, from €51,282 to -€48,988
- Financial charges +€83,435
up €83,435 (+70.8%), from €117,856 to €201,291
- Gross operating margin +€66,047
up €66,047 (+30.3%), from €217,691 to €283,738
- Taxes -€28,343
down €28,343 (-75.6%), from €37,478 to €9,135
- Other operating charges +€3,989
up €3,989 (+320%), from €1,246 to €5,235
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 | €877,947 | €1,049,885 | +€171,938 | +19.6% |
| Fixed assets | 21/28 | €79,621 | €91,898 | +€12,277 | +15.4% |
| Tangible fixed assets | 22/27 | €79,621 | €91,898 | +€12,277 | +15.4% |
| Plant, machinery and equipment | 23 | €15,889 | €14,983 | -€906 | -5.7% |
| Furniture and vehicles | 24 | €63,733 | €76,916 | +€13,183 | +20.7% |
| Current assets | 29/58 | €798,326 | €957,987 | +€159,661 | +20.0% |
| Stocks and contracts in progress | 3 | €7,101 | €6,767 | -€335 | -4.7% |
| Stocks | 30/36 | €7,101 | €6,767 | -€335 | -4.7% |
| Amounts receivable within one year | 40/41 | €65,175 | €50,476 | -€14,699 | -22.6% |
| Trade receivables | 40 | €1,344 | - | -€1,344 | |
| Other amounts receivable | 41 | €63,832 | €50,476 | -€13,356 | -20.9% |
| Current investments | 50/53 | €179,408 | €281,408 | +€102,000 | +56.9% |
| Cash at bank and in hand | 54/58 | €492,789 | €588,382 | +€95,593 | +19.4% |
| Deferred charges and accrued income | 490/1 | €53,852 | €30,954 | -€22,898 | -42.5% |
| Total equity and liabilities | 10/49 | €877,947 | €1,049,885 | +€171,938 | +19.6% |
| Equity | 10/15 | €274,873 | €351,110 | +€76,237 | +27.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €237,339 | €312,839 | +€75,500 | +31.8% |
| Non-distributable reserves | 130/1 | €237,339 | €312,839 | +€75,500 | +31.8% |
| Reserves not available under the articles | 1311 | €237,339 | €312,839 | +€75,500 | +31.8% |
| Profit (loss) carried forward | 14 | €30,534 | €31,271 | +€737 | +2.4% |
| Provisions and deferred taxes | 16 | €155,479 | €106,491 | -€48,988 | -31.5% |
| Provisions for liabilities and charges | 160/5 | €155,479 | €106,491 | -€48,988 | -31.5% |
| Environmental obligations | 163 | €155,479 | €106,491 | -€48,988 | -31.5% |
| Amounts payable | 17/49 | €447,595 | €592,284 | +€144,689 | +32.3% |
| Amounts payable after more than one year | 17 | €14,812 | - | -€14,812 | |
| Financial debts | 170/4 | €14,812 | - | -€14,812 | |
| Amounts payable within one year | 42/48 | €432,782 | €592,284 | +€159,501 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | €11,348 | - | -€11,348 | |
| Trade debts | 44 | €6,553 | €3,538 | -€3,015 | -46.0% |
| Suppliers | 440/4 | €6,553 | €3,538 | -€3,015 | -46.0% |
| Taxes, remuneration and social security | 45 | €5,465 | €5,791 | +€326 | +6.0% |
| Remuneration and social security | 454/9 | €5,465 | €5,791 | +€326 | +6.0% |
| Other amounts payable | 47/48 | €409,416 | €582,955 | +€173,538 | +42.4% |
| Remuneration, social security and pensions | 62 | €25,269 | €28,916 | +€3,647 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,942 | €14,806 | -€3,136 | -17.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €51,282 | -€48,988 | -€100,270 | |
| Other operating charges | 640/8 | €1,246 | €5,235 | +€3,989 | +320% |
| Gross operating margin | 9900 | €217,691 | €283,738 | +€66,047 | +30.3% |
| Operating profit (loss) | 9901 | €121,952 | €283,769 | +€161,817 | +133% |
| Financial income | 75/76B | €1,044 | €2,894 | +€1,850 | +177% |
| Recurring financial income | 75 | €1,044 | €2,894 | +€1,850 | +177% |
| Financial charges | 65/66B | €117,856 | €201,291 | +€83,435 | +70.8% |
| Recurring financial charges | 65 | €117,856 | €201,291 | +€83,435 | +70.8% |
| Profit (loss) for the period before taxes | 9903 | €5,140 | €85,372 | +€80,232 | +1,561% |
| Income taxes | 67/77 | €37,478 | €9,135 | -€28,343 | -75.6% |
| Profit (loss) for the period | 9904 | -€32,339 | €76,237 | +€108,575 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,339 | €76,237 | +€108,575 |
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 16 October 2026 via checked.be.