THE SURF GROUP: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
THE SURF GROUP
Largest movements
- Receivables within one year +€455,940
up €455,940 (+457%), from €99,815 to €555,755
of which Trade receivables: +€457,589
- Tangible fixed assets +€61,020
up €61,020 (+29.2%), from €209,099 to €270,119
- Deferred charges and accrued income -€34,843
down €34,843 (-19.0%), from €183,269 to €148,425
- Stocks and contracts +€22,542
new in 2025: €22,542
- Reserves +€295,333
up €295,333 (+199%), from €148,503 to €443,837
- Tax, wage and social debts +€148,261
up €148,261 (+588%), from €25,229 to €173,490
of which Taxes: +€152,525
- Trade debts +€101,495
up €101,495 (+92.8%), from €109,378 to €210,873
- Advances received -€90,230
down €90,230 (-63.8%), from €141,323 to €51,093
- Accrued charges and deferred income +€58,230
up €58,230 (+58.2%), from €100,000 to €158,230
- Gross operating margin +€354,726
up €354,726 (+146%), from €242,697 to €597,423
- Taxes +€87,214
up €87,214 (+681%), from €12,806 to €100,020
- Depreciation -€10,509
down €10,509 (-9.7%), from €108,319 to €97,810
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €549,433 | €1,062,523 | +€513,089 | +93.4% |
| Fixed assets | 21/28 | €215,279 | €275,322 | +€60,043 | +27.9% |
| Intangible fixed assets | 21 | €3,046 | €2,068 | -€977 | -32.1% |
| Tangible fixed assets | 22/27 | €209,099 | €270,119 | +€61,020 | +29.2% |
| Plant, machinery and equipment | 23 | €209,099 | €270,119 | +€61,020 | +29.2% |
| Financial fixed assets | 28 | €3,135 | €3,135 | = | 0.0% |
| Current assets | 29/58 | €334,154 | €787,201 | +€453,047 | +136% |
| Stocks and contracts in progress | 3 | - | €22,542 | +€22,542 | |
| Stocks | 30/36 | - | €22,542 | +€22,542 | |
| Amounts receivable within one year | 40/41 | €99,815 | €555,755 | +€455,940 | +457% |
| Trade receivables | 40 | €97,884 | €555,472 | +€457,589 | +467% |
| Other amounts receivable | 41 | €1,931 | €283 | -€1,649 | -85.4% |
| Cash at bank and in hand | 54/58 | €51,071 | €60,478 | +€9,408 | +18.4% |
| Deferred charges and accrued income | 490/1 | €183,269 | €148,425 | -€34,843 | -19.0% |
| Total equity and liabilities | 10/49 | €549,433 | €1,062,523 | +€513,089 | +93.4% |
| Equity | 10/15 | €173,503 | €468,837 | +€295,333 | +170% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €148,503 | €443,837 | +€295,333 | +199% |
| Distributable reserves | 133 | €148,503 | €443,837 | +€295,333 | +199% |
| Amounts payable | 17/49 | €375,930 | €593,686 | +€217,756 | +57.9% |
| Amounts payable within one year | 42/48 | €275,930 | €435,456 | +€159,526 | +57.8% |
| Trade debts | 44 | €109,378 | €210,873 | +€101,495 | +92.8% |
| Suppliers | 440/4 | €109,378 | €210,873 | +€101,495 | +92.8% |
| Advances received on contracts in progress | 46 | €141,323 | €51,093 | -€90,230 | -63.8% |
| Taxes, remuneration and social security | 45 | €25,229 | €173,490 | +€148,261 | +588% |
| Taxes | 450/3 | €10,072 | €162,598 | +€152,525 | +1,514% |
| Remuneration and social security | 454/9 | €15,156 | €10,892 | -€4,264 | -28.1% |
| Accrued charges and deferred income | 492/3 | €100,000 | €158,230 | +€58,230 | +58.2% |
| Remuneration, social security and pensions | 62 | €95,150 | €94,575 | -€575 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,319 | €97,810 | -€10,509 | -9.7% |
| Other operating charges | 640/8 | €705 | €711 | +€6 | +0.9% |
| Non-recurring operating charges | 66A | - | €514 | +€514 | |
| Gross operating margin | 9900 | €242,697 | €597,423 | +€354,726 | +146% |
| Operating profit (loss) | 9901 | €38,524 | €403,813 | +€365,289 | +948% |
| Financial income | 75/76B | €219 | €626 | +€407 | +186% |
| Recurring financial income | 75 | €219 | €626 | +€407 | +186% |
| Financial charges | 65/66B | €11,908 | €9,086 | -€2,822 | -23.7% |
| Recurring financial charges | 65 | €11,908 | €9,086 | -€2,822 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €26,835 | €395,354 | +€368,518 | +1,373% |
| Income taxes | 67/77 | €12,806 | €100,020 | +€87,214 | +681% |
| Profit (loss) for the period | 9904 | €14,029 | €295,333 | +€281,304 | +2,005% |
| Profit (loss) for the period to be appropriated | 9905 | €14,029 | €295,333 | +€281,304 | +2,005% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.