SURFLEX SHIPPING: 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.
SURFLEX SHIPPING
Largest movements
- Receivables within one year +€25,743
up €25,743 (+36.1%), from €71,298 to €97,042
of which Trade receivables: +€26,320
- Intangible fixed assets -€18,000
down €18,000 (-33.3%), from €54,000 to €36,000
- Tangible fixed assets -€14,628
down €14,628 (-24.8%), from €59,098 to €44,470
of which Furniture and vehicles: -€13,162
- Cash +€12,682
up €12,682 (+16.6%), from €76,262 to €88,945
mainly Depreciation (+€32,628) and Trade debts (+€21,816)
- Trade debts +€21,816
up €21,816 (+89.5%), from €24,380 to €46,196
- Current portion of long-term debt -€10,003
down €10,003 (-54.6%), from €18,315 to €8,312
- Debts after one year -€8,312
down €8,312 (-27.1%), from €30,658 to €22,346
- Profit (loss) carried forward +€4,588
up €4,588 (+3.1%), from €147,987 to €152,575
- Gross operating margin -€8,072
down €8,072 (-7.0%), from €116,132 to €108,060
- Staff costs +€6,299
up €6,299 (+11.2%), from €56,131 to €62,430
- Depreciation +€5,807
up €5,807 (+21.7%), from €26,820 to €32,628
- Financial income +€2,427
up €2,427 (+2436.4%), from €100 to €2,527
- Taxes -€1,422
down €1,422 (-19.8%), from €7,166 to €5,744
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 | €264,155 | €270,100 | +€5,944 | +2.3% |
| Fixed assets | 21/28 | €114,788 | €82,160 | -€32,628 | -28.4% |
| Intangible fixed assets | 21 | €54,000 | €36,000 | -€18,000 | -33.3% |
| Tangible fixed assets | 22/27 | €59,098 | €44,470 | -€14,628 | -24.8% |
| Plant, machinery and equipment | 23 | €2,519 | €1,053 | -€1,466 | -58.2% |
| Furniture and vehicles | 24 | €56,579 | €43,417 | -€13,162 | -23.3% |
| Financial fixed assets | 28 | €1,690 | €1,690 | = | 0.0% |
| Current assets | 29/58 | €149,368 | €187,940 | +€38,572 | +25.8% |
| Amounts receivable within one year | 40/41 | €71,298 | €97,042 | +€25,743 | +36.1% |
| Trade receivables | 40 | €68,792 | €95,112 | +€26,320 | +38.3% |
| Other amounts receivable | 41 | €2,506 | €1,930 | -€576 | -23.0% |
| Cash at bank and in hand | 54/58 | €76,262 | €88,945 | +€12,682 | +16.6% |
| Deferred charges and accrued income | 490/1 | €1,807 | €1,954 | +€146 | +8.1% |
| Total equity and liabilities | 10/49 | €264,155 | €270,100 | +€5,944 | +2.3% |
| Equity | 10/15 | €168,392 | €172,980 | +€4,588 | +2.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,987 | €152,575 | +€4,588 | +3.1% |
| Provisions and deferred taxes | 16 | €5,105 | €5,105 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,105 | €5,105 | = | 0.0% |
| Pensions and similar obligations | 160 | €5,105 | €5,105 | = | 0.0% |
| Amounts payable | 17/49 | €90,658 | €92,015 | +€1,357 | +1.5% |
| Amounts payable after more than one year | 17 | €30,658 | €22,346 | -€8,312 | -27.1% |
| Financial debts | 170/4 | €30,658 | €22,346 | -€8,312 | -27.1% |
| Amounts payable within one year | 42/48 | €60,000 | €69,669 | +€9,669 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €18,315 | €8,312 | -€10,003 | -54.6% |
| Trade debts | 44 | €24,380 | €46,196 | +€21,816 | +89.5% |
| Suppliers | 440/4 | €24,380 | €46,196 | +€21,816 | +89.5% |
| Taxes, remuneration and social security | 45 | €14,619 | €12,475 | -€2,145 | -14.7% |
| Taxes | 450/3 | €7,128 | €4,713 | -€2,415 | -33.9% |
| Remuneration and social security | 454/9 | €7,491 | €7,762 | +€270 | +3.6% |
| Other amounts payable | 47/48 | €2,685 | €2,686 | +€1 | 0.0% |
| Remuneration, social security and pensions | 62 | €56,131 | €62,430 | +€6,299 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,820 | €32,628 | +€5,807 | +21.7% |
| Other operating charges | 640/8 | €1,132 | €772 | -€359 | -31.8% |
| Gross operating margin | 9900 | €116,132 | €108,060 | -€8,072 | -7.0% |
| Operating profit (loss) | 9901 | €32,049 | €12,230 | -€19,819 | -61.8% |
| Financial income | 75/76B | €100 | €2,527 | +€2,427 | +2436.4% |
| Recurring financial income | 75 | €100 | €2,527 | +€2,427 | +2436.4% |
| Financial charges | 65/66B | €2,135 | €2,026 | -€109 | -5.1% |
| Recurring financial charges | 65 | €2,135 | €2,026 | -€109 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €30,014 | €12,731 | -€17,283 | -57.6% |
| Income taxes | 67/77 | €7,166 | €5,744 | -€1,422 | -19.8% |
| Profit (loss) for the period | 9904 | €22,848 | €6,988 | -€15,860 | -69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,848 | €6,988 | -€15,860 | -69.4% |
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.