SURGO: 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.
SURGO
Largest movements
- Tangible fixed assets +€241,008
up €241,008 (+24.8%), from €971,744 to €1.2m
of which Other tangible fixed assets: +€272,622
- Receivables within one year -€166,219
down €166,219 (-76.9%), from €216,233 to €50,014
of which Other amounts receivable: -€161,150
- Cash +€39,587
up €39,587 (+260.1%), from €15,218 to €54,805
mainly Debts after one year (+€220,406) and Receivables within one year (+€166,219)
- Debts after one year +€220,406
up €220,406 (+29.1%), from €758,648 to €979,055
of which Financial debts: +€221,506
- Profit (loss) carried forward -€93,179
down €93,179, from €50,639 to -€42,540
- Reserves -€37,830
down €37,830 (-9.7%), from €390,972 to €353,143
- Other debts +€18,886
up €18,886 (+341.9%), from €5,524 to €24,410
- Gross operating margin -€147,673
down €147,673 (-94.1%), from €156,940 to €9,267
- Other operating charges -€30,944
down €30,944 (-80.6%), from €38,370 to €7,425
- Depreciation +€8,628
up €8,628 (+9.2%), from €93,944 to €102,572
- Financial charges +€5,893
up €5,893 (+36.4%), from €16,211 to €22,103
- Financial income -€5,140
down €5,140 (-56.0%), from €9,184 to €4,044
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 | €1,530,711 | €1,633,643 | +€102,932 | +6.7% |
| Fixed assets | 21/28 | €976,799 | €1,212,807 | +€236,008 | +24.2% |
| Tangible fixed assets | 22/27 | €971,744 | €1,212,751 | +€241,008 | +24.8% |
| Land and buildings | 22 | €108,826 | €91,054 | -€17,772 | -16.3% |
| Plant, machinery and equipment | 23 | €8,818 | €2,782 | -€6,036 | -68.4% |
| Furniture and vehicles | 24 | €28,792 | €20,984 | -€7,807 | -27.1% |
| Other tangible fixed assets | 26 | €825,308 | €1,097,930 | +€272,622 | +33.0% |
| Financial fixed assets | 28 | €5,056 | €56 | -€5,000 | -98.9% |
| Current assets | 29/58 | €553,912 | €420,836 | -€133,076 | -24.0% |
| Amounts receivable within one year | 40/41 | €216,233 | €50,014 | -€166,219 | -76.9% |
| Trade receivables | 40 | €10,104 | €5,036 | -€5,069 | -50.2% |
| Other amounts receivable | 41 | €206,129 | €44,978 | -€161,150 | -78.2% |
| Current investments | 50/53 | €311,764 | €308,625 | -€3,140 | -1.0% |
| Cash at bank and in hand | 54/58 | €15,218 | €54,805 | +€39,587 | +260.1% |
| Deferred charges and accrued income | 490/1 | €10,696 | €7,392 | -€3,305 | -30.9% |
| Total equity and liabilities | 10/49 | €1,530,711 | €1,633,643 | +€102,932 | +6.7% |
| Equity | 10/15 | €534,922 | €403,913 | -€131,009 | -24.5% |
| Contributions | 10/11 | €93,310 | €93,310 | = | 0.0% |
| Reserves | 13 | €390,972 | €353,143 | -€37,830 | -9.7% |
| Tax-exempt reserves | 132 | €390,972 | €353,143 | -€37,830 | -9.7% |
| Profit (loss) carried forward | 14 | €50,639 | -€42,540 | -€93,179 | |
| Provisions and deferred taxes | 16 | €130,324 | €117,714 | -€12,610 | -9.7% |
| Deferred taxes | 168 | €130,324 | €117,714 | -€12,610 | -9.7% |
| Amounts payable | 17/49 | €865,465 | €1,112,016 | +€246,551 | +28.5% |
| Amounts payable after more than one year | 17 | €758,648 | €979,055 | +€220,406 | +29.1% |
| Financial debts | 170/4 | €757,548 | €979,055 | +€221,506 | +29.2% |
| Other amounts payable | 178/9 | €1,100 | - | -€1,100 | |
| Amounts payable within one year | 42/48 | €102,860 | €130,861 | +€28,001 | +27.2% |
| Current portion of amounts payable after more than one year | 42 | €72,040 | €83,254 | +€11,213 | +15.6% |
| Trade debts | 44 | €23,457 | €22,014 | -€1,443 | -6.2% |
| Suppliers | 440/4 | €23,457 | €22,014 | -€1,443 | -6.2% |
| Taxes, remuneration and social security | 45 | €1,839 | €1,184 | -€655 | -35.6% |
| Taxes | 450/3 | €839 | €1,184 | +€345 | +41.1% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €5,524 | €24,410 | +€18,886 | +341.9% |
| Accrued charges and deferred income | 492/3 | €3,957 | €2,100 | -€1,857 | -46.9% |
| Non-recurring operating income | 76A | €8,500 | - | -€8,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,944 | €102,572 | +€8,628 | +9.2% |
| Other operating charges | 640/8 | €38,370 | €7,425 | -€30,944 | -80.6% |
| Non-recurring operating charges | 66A | €53,025 | €25,110 | -€27,915 | -52.6% |
| Gross operating margin | 9900 | €156,940 | €9,267 | -€147,673 | -94.1% |
| Operating profit (loss) | 9901 | -€28,399 | -€125,840 | -€97,442 | -343.1% |
| Financial income | 75/76B | €9,184 | €4,044 | -€5,140 | -56.0% |
| Recurring financial income | 75 | €9,184 | €4,044 | -€5,140 | -56.0% |
| Financial charges | 65/66B | €16,211 | €22,103 | +€5,893 | +36.4% |
| Recurring financial charges | 65 | €16,211 | €22,103 | +€5,893 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | -€35,425 | -€143,899 | -€108,474 | -306.2% |
| Transfer from deferred taxes | 780 | €8,086 | €12,610 | +€4,524 | +55.9% |
| Income taxes | 67/77 | €1,113 | -€280 | -€1,394 | |
| Profit (loss) for the period | 9904 | -€28,452 | -€131,009 | -€102,557 | -360.5% |
| Transfer from tax-exempt reserves | 789 | €24,259 | €37,830 | +€13,571 | +55.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,193 | -€93,179 | -€88,987 | -2122.4% |
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.