ABYSSE BELGIUM: what changed
Position among the sector peers
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You see every sector peer as a dot per ratio, with the company in two financial years and every ratio over five years against the sector.
What moved between 31-12-2023 and 31-12-2024
Largest movements
- Deferred charges and accrued income -€24,316
no longer reported in 2024 (was €24,316)
- Tangible fixed assets -€18,985
down €18,985 (-15.7%), from €121,046 to €102,060
of which Other tangible fixed assets: -€17,702
- Intangible fixed assets -€6,217
down €6,217 (-66.7%), from €9,325 to €3,108
- Receivables within one year -€3,454
down €3,454 (-92.7%), from €3,727 to €273
of which Trade receivables: -€3,418
- Profit (loss) carried forward -€156,894
down €156,894 (-131%), from -€120,174 to -€277,068
- Trade debts +€86,366
up €86,366 (+27.7%), from €311,580 to €397,946
- Other debts +€14,095
up €14,095 (+204%), from €6,905 to €21,000
- Tax, wage and social debts +€2,562
up €2,562 (+8.4%), from €30,513 to €33,075
of which Remuneration and social security: +€4,973
- Staff costs +€19,283
up €19,283 (+16.8%), from €114,475 to €133,758
- Gross operating margin -€16,210
down €16,210 (-71.9%), from €22,555 to €6,345
- Other operating charges -€683
down €683 (-26.6%), from €2,574 to €1,891
- Financial charges -€268
down €268 (-10.0%), from €2,672 to €2,404
Change in the result, 31-12-2023 to 31-12-2024
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 31-12-2023 and 31-12-2024 balance sheets and the 31-12-2024 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 | 31-12-2023 | 31-12-2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €235,510 | €181,814 | -€53,696 | -22.8% |
| Fixed assets | 21/28 | €130,371 | €105,169 | -€25,202 | -19.3% |
| Intangible fixed assets | 21 | €9,325 | €3,108 | -€6,217 | -66.7% |
| Tangible fixed assets | 22/27 | €121,046 | €102,060 | -€18,985 | -15.7% |
| Plant, machinery and equipment | 23 | €7,917 | €6,635 | -€1,283 | -16.2% |
| Other tangible fixed assets | 26 | €113,128 | €95,426 | -€17,702 | -15.6% |
| Current assets | 29/58 | €105,139 | €76,645 | -€28,494 | -27.1% |
| Stocks and contracts in progress | 3 | €39,228 | €39,942 | +€714 | +1.8% |
| Stocks | 30/36 | €39,228 | €39,942 | +€714 | +1.8% |
| Amounts receivable within one year | 40/41 | €3,727 | €273 | -€3,454 | -92.7% |
| Trade receivables | 40 | €3,691 | €273 | -€3,418 | -92.6% |
| Other amounts receivable | 41 | €36 | - | -€36 | |
| Cash at bank and in hand | 54/58 | €37,868 | €36,430 | -€1,438 | -3.8% |
| Deferred charges and accrued income | 490/1 | €24,316 | - | -€24,316 | |
| Total equity and liabilities | 10/49 | €235,510 | €181,814 | -€53,696 | -22.8% |
| Equity | 10/15 | -€113,974 | -€270,868 | -€156,894 | -138% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,174 | -€277,068 | -€156,894 | -131% |
| Amounts payable | 17/49 | €349,483 | €452,682 | +€103,198 | +29.5% |
| Amounts payable within one year | 42/48 | €349,483 | €452,682 | +€103,198 | +29.5% |
| Trade debts | 44 | €311,580 | €397,946 | +€86,366 | +27.7% |
| Suppliers | 440/4 | €311,580 | €397,946 | +€86,366 | +27.7% |
| Advances received on contracts in progress | 46 | €486 | €661 | +€175 | +36.0% |
| Taxes, remuneration and social security | 45 | €30,513 | €33,075 | +€2,562 | +8.4% |
| Taxes | 450/3 | €15,093 | €12,681 | -€2,411 | -16.0% |
| Remuneration and social security | 454/9 | €15,420 | €20,393 | +€4,973 | +32.3% |
| Other amounts payable | 47/48 | €6,905 | €21,000 | +€14,095 | +204% |
| Remuneration, social security and pensions | 62 | €114,475 | €133,758 | +€19,283 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,202 | €25,202 | = | 0.0% |
| Other operating charges | 640/8 | €2,574 | €1,891 | -€683 | -26.6% |
| Gross operating margin | 9900 | €22,555 | €6,345 | -€16,210 | -71.9% |
| Operating profit (loss) | 9901 | -€119,696 | -€154,506 | -€34,810 | -29.1% |
| Financial income | 75/76B | €229 | €16 | -€213 | -93.0% |
| Recurring financial income | 75 | €229 | €16 | -€213 | -93.0% |
| Financial charges | 65/66B | €2,672 | €2,404 | -€268 | -10.0% |
| Recurring financial charges | 65 | €2,672 | €2,404 | -€268 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€122,139 | -€156,894 | -€34,755 | -28.5% |
| Profit (loss) for the period | 9904 | -€122,139 | -€156,894 | -€34,755 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€122,139 | -€156,894 | -€34,755 | -28.5% |
Value
latest balance sheet 31-12-2024 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint €0 · adjusted equity only
Capitalisation rate 12% result over 3 years, excluding non-recurring income and charges earnings weight 50% revaluation €0 other adjustment €0 EBITDA multiple
The filed figures and these assumptions give no positive value. The adjusted equity and the average result are both zero or negative.
Part of the calculation comes out below zero. A shareholding is never worth less than zero, so the floor is zero.
Adjusted equity
- Equity (10/15)
- -€270,868
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- -€3,108
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- -€273,977
Capitalised earnings
- 2024
- -€156,894
- 2023
- -€122,139
- 2022
- €17,391
- 2022
- -€5,606
- 2021
- -€5,367
- Average result, excluding non-recurring income and charges
- -€87,214
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- not meaningful, as the average result is zero or negative
Your EBITDA multiple
- EBITDA 2024
- -€129,304
- Net financial debt
- -€36,430
- Your multiple
- -
- Value with your multiple
- -
These accounts do not break down the debts after one year. They count in full as financial debt.
Limits of the indication
- Checked holds no market prices or comparable transactions.
- Anything after the latest accounts and items off the balance sheet (guarantees, leases, disputes) are left out.
- Checked does not know the real value of buildings, stock and receivables. Enter your own revaluation or adjustment for it.
- The owner's role in the business, synergies for a buyer and the tax consequences of a sale are left out.
For a valuation to base a decision on, go to a company auditor or a certified accountant.
Next steps
Calculation and sources
Source: filed annual accounts (NBB) and main activity (KBO). The movements compare the financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. The value is an indication, not a valuation or advice. Prepared on 12 November 2026 via checked.be.