SURFIMO: what changed
Two fiscal 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.
SURFIMO
Largest movements
- Cash -€50,574
down €50,574 (-20.1%), from €251,575 to €201,000
mainly Contributions, distributions and other (-€320,000) and Current portion of long-term debt (-€17,615)
- Tangible fixed assets -€43,144
down €43,144 (-26.9%), from €160,123 to €116,979
of which Leasing and similar rights: -€37,275
- Receivables within one year -€22,518
down €22,518 (-17.5%), from €128,630 to €106,111
of which Other amounts receivable: -€18,224
- Profit (loss) carried forward -€201,249
down €201,249 (-87.6%), from €229,810 to €28,561
- Other debts +€94,123
up €94,123 (+142.8%), from €65,903 to €160,026
- Current portion of long-term debt -€17,615
no longer reported in 2025 (was €17,615)
- Tax, wage and social debts +€6,890
up €6,890 (+8.0%), from €86,374 to €93,264
- Short-term financial debts +€5,826
new in 2025: €5,826
- Gross operating margin -€61,343
down €61,343 (-21.7%), from €282,207 to €220,863
- Depreciation -€25,700
down €25,700 (-32.1%), from €80,170 to €54,470
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 | €560,404 | €445,926 | -€114,478 | -20.4% |
| Fixed assets | 21/28 | €160,635 | €117,491 | -€43,144 | -26.9% |
| Tangible fixed assets | 22/27 | €160,123 | €116,979 | -€43,144 | -26.9% |
| Land and buildings | 22 | €47,449 | €36,809 | -€10,641 | -22.4% |
| Plant, machinery and equipment | 23 | - | €3,229 | +€3,229 | |
| Furniture and vehicles | 24 | €24,208 | €25,750 | +€1,542 | +6.4% |
| Leasing and similar rights | 25 | €88,465 | €51,191 | -€37,275 | -42.1% |
| Financial fixed assets | 28 | €512 | €512 | = | 0.0% |
| Current assets | 29/58 | €399,769 | €328,435 | -€71,334 | -17.8% |
| Amounts receivable within one year | 40/41 | €128,630 | €106,111 | -€22,518 | -17.5% |
| Trade receivables | 40 | €31,467 | €27,173 | -€4,294 | -13.6% |
| Other amounts receivable | 41 | €97,162 | €78,938 | -€18,224 | -18.8% |
| Cash at bank and in hand | 54/58 | €251,575 | €201,000 | -€50,574 | -20.1% |
| Deferred charges and accrued income | 490/1 | €19,565 | €21,324 | +€1,759 | +9.0% |
| Total equity and liabilities | 10/49 | €560,404 | €445,926 | -€114,478 | -20.4% |
| Equity | 10/15 | €310,460 | €109,211 | -€201,249 | -64.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €18,650 | €18,650 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,450 | €12,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | €229,810 | €28,561 | -€201,249 | -87.6% |
| Amounts payable | 17/49 | €249,944 | €336,715 | +€86,771 | +34.7% |
| Amounts payable after more than one year | 17 | €72,453 | €72,453 | = | 0.0% |
| Financial debts | 170/4 | €72,453 | €72,453 | = | 0.0% |
| Amounts payable within one year | 42/48 | €177,320 | €263,998 | +€86,677 | +48.9% |
| Current portion of amounts payable after more than one year | 42 | €17,615 | - | -€17,615 | |
| Financial debts | 43 | - | €5,826 | +€5,826 | |
| Credit institutions | 430/8 | - | €5,826 | +€5,826 | |
| Trade debts | 44 | €7,429 | €4,882 | -€2,547 | -34.3% |
| Suppliers | 440/4 | €7,429 | €4,882 | -€2,547 | -34.3% |
| Taxes, remuneration and social security | 45 | €86,374 | €93,264 | +€6,890 | +8.0% |
| Taxes | 450/3 | €86,374 | €93,264 | +€6,890 | +8.0% |
| Other amounts payable | 47/48 | €65,903 | €160,026 | +€94,123 | +142.8% |
| Accrued charges and deferred income | 492/3 | €171 | €265 | +€94 | +55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,170 | €54,470 | -€25,700 | -32.1% |
| Other operating charges | 640/8 | €14,696 | €12,516 | -€2,180 | -14.8% |
| Gross operating margin | 9900 | €282,207 | €220,863 | -€61,343 | -21.7% |
| Operating profit (loss) | 9901 | €187,341 | €153,877 | -€33,463 | -17.9% |
| Financial income | 75/76B | €6,148 | €6,256 | +€108 | +1.8% |
| Recurring financial income | 75 | €6,148 | €6,256 | +€108 | +1.8% |
| Financial charges | 65/66B | €3,715 | €5,078 | +€1,363 | +36.7% |
| Recurring financial charges | 65 | €3,715 | €5,078 | +€1,363 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €189,774 | €155,055 | -€34,719 | -18.3% |
| Income taxes | 67/77 | €33,521 | €36,304 | +€2,783 | +8.3% |
| Profit (loss) for the period | 9904 | €156,252 | €118,751 | -€37,501 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €156,252 | €118,751 | -€37,501 | -24.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.