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LAS BELGAS: value indication

Line	Code	2025	2026	Change	%
Total assets	20/58	€78,093	€142,988	+€64,895	+83.1%
Current assets	29/58	€78,093	€142,988	+€64,895	+83.1%
Amounts receivable within one year	40/41	€72,307	€78,067	+€5,760	+8.0%
Trade receivables	40	€5,172	€4,537	-€634	-12.3%
Other amounts receivable	41	€67,136	€73,530	+€6,394	+9.5%
Cash at bank and in hand	54/58	€5,224	€64,419	+€59,194	+1,133%
Deferred charges and accrued income	490/1	€561	€502	-€59	-10.6%
Total equity and liabilities	10/49	€78,093	€142,988	+€64,895	+83.1%
Equity	10/15	€14,353	€75,900	+€61,547	+429%
Contributions	10/11	€18,600	€18,600	=	0.0%
Reserves	13	-	€7,300	+€7,300
Distributable reserves	133	-	€7,300	+€7,300
Profit (loss) carried forward	14	-€54,247	-	+€54,247
Investment grants	15	€50,000	€50,000	=	0.0%
Amounts payable	17/49	€63,740	€67,088	+€3,348	+5.3%
Amounts payable after more than one year	17	€23,500	€17,500	-€6,000	-25.5%
Financial debts	170/4	€4,000	€4,000	=	0.0%
Other amounts payable	178/9	€19,500	€13,500	-€6,000	-30.8%
Amounts payable within one year	42/48	€40,240	€49,588	+€9,348	+23.2%
Trade debts	44	€31,208	€41,021	+€9,813	+31.4%
Suppliers	440/4	€31,208	€41,021	+€9,813	+31.4%
Other amounts payable	47/48	€9,032	€8,566	-€465	-5.2%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets	630	€83	-	-€83
Other operating charges	640/8	€451	€465	+€14	+3.2%
Gross operating margin	9900	€10,760	€62,175	+€51,414	+478%
Operating profit (loss)	9901	€10,226	€61,709	+€51,483	+503%
Financial income	75/76B	€26	-	-€26
Recurring financial income	75	€26	-	-€26
Financial charges	65/66B	€1,702	€162	-€1,541	-90.5%
Recurring financial charges	65	€1,702	€162	-€1,541	-90.5%
Profit (loss) for the period before taxes	9903	€8,549	€61,547	+€52,998	+620%
Profit (loss) for the period	9904	€8,549	€61,547	+€52,998	+620%
Profit (loss) for the period to be appropriated	9905	€8,549	€61,547	+€52,998	+620%

LAS BELGAS: value indication

LAS BELGAS: value indication

Position among the sector peers

What moved between 2025 and 2026

Largest movements

Change in the result, 2025 to 2026

Derived cash bridge

Value

Indicative value of the equity

Adjusted equity

Capitalised earnings

Your EBITDA multiple

Limits of the indication

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