SURFER ROSA: 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.
SURFER ROSA
Largest movements
- Cash -€6,147
down €6,147 (-61.0%), from €10,073 to €3,926
mainly Net result for the year (-€42,114) and Investment in fixed assets (net) (-€313)
- Receivables within one year -€4,709
down €4,709 (-4.9%), from €95,148 to €90,439
of which Trade receivables: -€5,227
- Stocks and contracts -€2,146
down €2,146 (-6.8%), from €31,549 to €29,403
- Reserves -€42,114
down €42,114 (-40.4%), from €104,176 to €62,061
of which Distributable reserves: -€42,114
- Other debts +€18,437
up €18,437 (+70.7%), from €26,064 to €44,501
- Tax, wage and social debts +€7,789
up €7,789 (+61.4%), from €12,685 to €20,474
of which Remuneration and social security: +€11,700
- Write-downs +€4,870
up €4,870, from -€4,870 to €0
- Gross operating margin -€1,622
down €1,622 (-4.3%), from -€38,122 to -€39,744
- Depreciation -€601
down €601 (-41.2%), from €1,458 to €857
- Financial charges -€509
down €509 (-81.1%), from €628 to €119
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 | €162,242 | €148,203 | -€14,039 | -8.7% |
| Fixed assets | 21/28 | €7,154 | €6,611 | -€543 | -7.6% |
| Tangible fixed assets | 22/27 | €3,254 | €2,711 | -€543 | -16.7% |
| Furniture and vehicles | 24 | €985 | €786 | -€199 | -20.2% |
| Other tangible fixed assets | 26 | €2,269 | €1,925 | -€344 | -15.2% |
| Financial fixed assets | 28 | €3,900 | €3,900 | = | 0.0% |
| Current assets | 29/58 | €155,088 | €141,592 | -€13,496 | -8.7% |
| Stocks and contracts in progress | 3 | €31,549 | €29,403 | -€2,146 | -6.8% |
| Stocks | 30/36 | €31,549 | €29,403 | -€2,146 | -6.8% |
| Amounts receivable within one year | 40/41 | €95,148 | €90,439 | -€4,709 | -4.9% |
| Trade receivables | 40 | €44,476 | €39,249 | -€5,227 | -11.8% |
| Other amounts receivable | 41 | €50,671 | €51,189 | +€518 | +1.0% |
| Current investments | 50/53 | €15,000 | €15,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,073 | €3,926 | -€6,147 | -61.0% |
| Deferred charges and accrued income | 490/1 | €3,319 | €2,824 | -€495 | -14.9% |
| Total equity and liabilities | 10/49 | €162,242 | €148,203 | -€14,039 | -8.7% |
| Equity | 10/15 | €110,376 | €68,261 | -€42,114 | -38.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €104,176 | €62,061 | -€42,114 | -40.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €102,316 | €60,201 | -€42,114 | -41.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,867 | €79,942 | +€28,075 | +54.1% |
| Amounts payable within one year | 42/48 | €51,867 | €79,942 | +€28,075 | +54.1% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €5,000 | = | 0.0% |
| Financial debts | 43 | €64 | €887 | +€823 | +1286.5% |
| Credit institutions | 430/8 | €64 | €887 | +€823 | +1286.5% |
| Trade debts | 44 | €8,054 | €9,080 | +€1,026 | +12.7% |
| Suppliers | 440/4 | €8,054 | €9,080 | +€1,026 | +12.7% |
| Taxes, remuneration and social security | 45 | €12,685 | €20,474 | +€7,789 | +61.4% |
| Taxes | 450/3 | €6,835 | €2,924 | -€3,911 | -57.2% |
| Remuneration and social security | 454/9 | €5,850 | €17,550 | +€11,700 | +200.0% |
| Other amounts payable | 47/48 | €26,064 | €44,501 | +€18,437 | +70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,458 | €857 | -€601 | -41.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,870 | €0 | +€4,870 | |
| Other operating charges | 640/8 | €1,152 | €1,505 | +€353 | +30.6% |
| Gross operating margin | 9900 | -€38,122 | -€39,744 | -€1,622 | -4.3% |
| Operating profit (loss) | 9901 | -€35,861 | -€42,105 | -€6,243 | -17.4% |
| Financial income | 75/76B | €0 | €325 | +€325 | +271058.3% |
| Recurring financial income | 75 | €0 | €325 | +€325 | +271058.3% |
| Financial charges | 65/66B | €628 | €119 | -€509 | -81.1% |
| Recurring financial charges | 65 | €628 | €119 | -€509 | -81.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,489 | -€41,898 | -€5,409 | -14.8% |
| Income taxes | 67/77 | €212 | €216 | +€4 | +1.8% |
| Profit (loss) for the period | 9904 | -€36,701 | -€42,114 | -€5,413 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,701 | -€42,114 | -€5,413 | -14.7% |
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.