SURPLUS 4x4: 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.
SURPLUS 4x4
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€359,485
up €359,485 (+104%), from €346,632 to €706,116
mainly Current investments (+€400,000) and Net result for the year (+€123,571)
- Receivables within one year +€39,346
up €39,346 (+679%), from €5,793 to €45,139
of which Other amounts receivable: +€25,921
- Other debts -€99,019
down €99,019 (-19.2%), from €515,844 to €416,826
- Reserves +€73,571
up €73,571 (+2.4%), from €3.0m to €3.1m
of which Distributable reserves: +€80,249
- Taxes -€20,120
down €20,120 (-31.3%), from €64,203 to €44,083
- Gross operating margin -€15,787
down €15,787 (-6.4%), from €247,714 to €231,927
- Financial charges +€15,713
up €15,713 (+78.5%), from €20,018 to €35,731
- Financial income +€5,030
up €5,030 (+39.8%), from €12,653 to €17,683
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.
Derived cash bridge
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 | €3,718,332 | €3,703,670 | -€14,662 | -0.4% |
| Fixed assets | 21/28 | €910,291 | €889,432 | -€20,859 | -2.3% |
| Tangible fixed assets | 22/27 | €910,291 | €889,432 | -€20,859 | -2.3% |
| Land and buildings | 22 | €910,291 | €889,432 | -€20,859 | -2.3% |
| Current assets | 29/58 | €2,808,041 | €2,814,237 | +€6,197 | +0.2% |
| Amounts receivable after more than one year | 29 | €2,052,759 | €2,062,871 | +€10,112 | +0.5% |
| Other amounts receivable | 291 | €2,052,759 | €2,062,871 | +€10,112 | +0.5% |
| Amounts receivable within one year | 40/41 | €5,793 | €45,139 | +€39,346 | +679% |
| Trade receivables | 40 | - | €13,425 | +€13,425 | |
| Other amounts receivable | 41 | €5,793 | €31,714 | +€25,921 | +447% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €346,632 | €706,116 | +€359,485 | +104% |
| Deferred charges and accrued income | 490/1 | €2,857 | €111 | -€2,746 | -96.1% |
| Total equity and liabilities | 10/49 | €3,718,332 | €3,703,670 | -€14,662 | -0.4% |
| Equity | 10/15 | €3,105,134 | €3,178,704 | +€73,571 | +2.4% |
| 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 | €3,043,134 | €3,116,704 | +€73,571 | +2.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €189,050 | €182,371 | -€6,678 | -3.5% |
| Distributable reserves | 133 | €2,847,884 | €2,928,133 | +€80,249 | +2.8% |
| Provisions and deferred taxes | 16 | €70,175 | €66,886 | -€3,289 | -4.7% |
| Deferred taxes | 168 | €70,175 | €66,886 | -€3,289 | -4.7% |
| Amounts payable | 17/49 | €543,023 | €458,079 | -€84,944 | -15.6% |
| Amounts payable within one year | 42/48 | €523,562 | €422,732 | -€100,830 | -19.3% |
| Trade debts | 44 | €7,718 | €5,906 | -€1,812 | -23.5% |
| Suppliers | 440/4 | €7,718 | €5,906 | -€1,812 | -23.5% |
| Other amounts payable | 47/48 | €515,844 | €416,826 | -€99,019 | -19.2% |
| Accrued charges and deferred income | 492/3 | €19,461 | €35,348 | +€15,887 | +81.6% |
| Non-recurring operating income | 76A | €202 | - | -€202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,859 | €20,859 | = | 0.0% |
| Other operating charges | 640/8 | €27,045 | €28,656 | +€1,611 | +6.0% |
| Gross operating margin | 9900 | €247,714 | €231,927 | -€15,787 | -6.4% |
| Operating profit (loss) | 9901 | €199,810 | €182,412 | -€17,398 | -8.7% |
| Financial income | 75/76B | €12,653 | €17,683 | +€5,030 | +39.8% |
| Recurring financial income | 75 | €12,653 | €17,683 | +€5,030 | +39.8% |
| Financial charges | 65/66B | €20,018 | €35,731 | +€15,713 | +78.5% |
| Recurring financial charges | 65 | €20,018 | €35,731 | +€15,713 | +78.5% |
| Profit (loss) for the period before taxes | 9903 | €192,445 | €164,364 | -€28,081 | -14.6% |
| Transfer from deferred taxes | 780 | €3,289 | €3,289 | = | 0.0% |
| Income taxes | 67/77 | €64,203 | €44,083 | -€20,120 | -31.3% |
| Profit (loss) for the period | 9904 | €131,531 | €123,571 | -€7,961 | -6.1% |
| Transfer from tax-exempt reserves | 789 | €6,678 | €6,678 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €138,210 | €130,249 | -€7,961 | -5.8% |
Source: filed annual accounts (NBB), financial years ended 28 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.