SURMACO: what changed
What changed
SURMACO
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€517,764
2024 · €167,588+€350,176
Equity
€359,157
2024 · €186,393+€172,764
Cash
€420,279
2024 · €319,041+€101,237
Balance sheet total
€1.5m
2024 · €1.4m+€82,884
Largest movements
Assets
- Cash +€101,237
up €101,237 (+31.7%), from €319,041 to €420,279
mainly Net result for the year (+€517,764) and Depreciation (+€85,701)
- Tangible fixed assets -€22,652
down €22,652 (-2.6%), from €865,489 to €842,836
of which Furniture and vehicles: -€19,454
Equity and liabilities
- Reserves +€172,764
up €172,764 (+103%), from €167,793 to €340,557
- Other debts -€59,031
down €59,031 (-67.9%), from €86,896 to €27,864
- Debts after one year -€49,706
down €49,706 (-5.0%), from €1.0m to €952,189
- Tax, wage and social debts +€19,102
up €19,102 (+60.5%), from €31,593 to €50,695
of which Taxes: +€13,553
Income statement
- Financial income +€294,380
up €294,380 (+143%), from €205,620 to €500,000
- Depreciation -€61,010
down €61,010 (-41.6%), from €146,711 to €85,701
- Gross operating margin +€55,383
up €55,383 (+39.7%), from €139,409 to €194,792
- Staff costs +€43,113
new in 2025: €43,113
- Financial charges +€13,694
up €13,694 (+49.8%), from €27,524 to €41,218
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€167,588
Gross operating margin
+€55,383
Staff costs
-€43,113
Depreciation
+€61,010
Other operating charges
-€13
Financial income
+€294,380
Financial charges
-€13,694
Taxes
-€3,777
Result 2025
€517,764
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€555,413
Investment
-€61,301
Financing
-€392,875
Cash 2024
€319,041
From operations (derived)
+€555,413
Net result for the year
+€517,764
Depreciation
+€85,701
Receivables within one year
-€3,699
Deferred charges and accrued income
-€2,349
Trade debts
-€4,952
Tax, wage and social debts
+€19,102
Other debts
-€59,031
Accrued charges and deferred income
+€2,877
Investment (derived)
-€61,301
Investment in fixed assets (net)
-€61,301
Financing
-€392,875
Debts after one year
-€49,706
Current portion of long-term debt
+€1,831
Contributions, distributions and other
-€345,000
Cash 2025
€420,279
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,375,155 | €1,458,039 | +€82,884 | +6.0% |
| Fixed assets | 21/28 | €969,777 | €945,377 | -€24,400 | -2.5% |
| Intangible fixed assets | 21 | €6,492 | €4,744 | -€1,748 | -26.9% |
| Tangible fixed assets | 22/27 | €865,489 | €842,836 | -€22,652 | -2.6% |
| Land and buildings | 22 | €706,875 | €696,260 | -€10,615 | -1.5% |
| Plant, machinery and equipment | 23 | - | €4,642 | +€4,642 | |
| Furniture and vehicles | 24 | €158,614 | €139,159 | -€19,454 | -12.3% |
| Other tangible fixed assets | 26 | - | €2,775 | +€2,775 | |
| Financial fixed assets | 28 | €97,797 | €97,797 | = | 0.0% |
| Current assets | 29/58 | €405,378 | €512,662 | +€107,285 | +26.5% |
| Amounts receivable within one year | 40/41 | €81,232 | €84,931 | +€3,699 | +4.6% |
| Trade receivables | 40 | €62,690 | €54,260 | -€8,430 | -13.4% |
| Other amounts receivable | 41 | €18,542 | €30,671 | +€12,129 | +65.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €319,041 | €420,279 | +€101,237 | +31.7% |
| Deferred charges and accrued income | 490/1 | €5,104 | €7,453 | +€2,349 | +46.0% |
| Total equity and liabilities | 10/49 | €1,375,155 | €1,458,039 | +€82,884 | +6.0% |
| Equity | 10/15 | €186,393 | €359,157 | +€172,764 | +92.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €167,793 | €340,557 | +€172,764 | +103% |
| Distributable reserves | 133 | €167,793 | €340,557 | +€172,764 | +103% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,188,762 | €1,098,882 | -€89,879 | -7.6% |
| Amounts payable after more than one year | 17 | €1,001,895 | €952,189 | -€49,706 | -5.0% |
| Financial debts | 170/4 | €1,001,895 | €952,189 | -€49,706 | -5.0% |
| Amounts payable within one year | 42/48 | €186,058 | €143,007 | -€43,051 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €50,015 | €51,846 | +€1,831 | +3.7% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €17,554 | €12,602 | -€4,952 | -28.2% |
| Suppliers | 440/4 | €17,554 | €12,602 | -€4,952 | -28.2% |
| Taxes, remuneration and social security | 45 | €31,593 | €50,695 | +€19,102 | +60.5% |
| Taxes | 450/3 | €23,068 | €36,621 | +€13,553 | +58.8% |
| Remuneration and social security | 454/9 | €8,525 | €14,073 | +€5,548 | +65.1% |
| Other amounts payable | 47/48 | €86,896 | €27,864 | -€59,031 | -67.9% |
| Accrued charges and deferred income | 492/3 | €809 | €3,687 | +€2,877 | +356% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €43,113 | +€43,113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,711 | €85,701 | -€61,010 | -41.6% |
| Other operating charges | 640/8 | €2,654 | €2,667 | +€13 | +0.5% |
| Gross operating margin | 9900 | €139,409 | €194,792 | +€55,383 | +39.7% |
| Operating profit (loss) | 9901 | -€9,957 | €63,311 | +€73,268 | |
| Financial income | 75/76B | €205,620 | €500,000 | +€294,380 | +143% |
| Recurring financial income | 75 | €205,620 | €500,000 | +€294,380 | +143% |
| Financial charges | 65/66B | €27,524 | €41,218 | +€13,694 | +49.8% |
| Recurring financial charges | 65 | €27,524 | €41,218 | +€13,694 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | €168,139 | €522,093 | +€353,954 | +211% |
| Income taxes | 67/77 | €552 | €4,329 | +€3,777 | +685% |
| Profit (loss) for the period | 9904 | €167,588 | €517,764 | +€350,176 | +209% |
| Profit (loss) for the period to be appropriated | 9905 | €167,588 | €517,764 | +€350,176 | +209% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.