ALIAS: what changed
Position among the sector peers
Sector benchmark: create a free account or sign in to use this tool.
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 2020 and 2022
not consecutiveLargest movements
- Current assets -€27,186
down €27,186 (-85.9%), from €31,666 to €4,480
of which Receivables within one year: -€21,232
- Tangible fixed assets -€2,305
down €2,305 (-2.7%), from €84,649 to €82,344
- Profit (loss) carried forward -€30,680
down €30,680 (-62.1%), from -€49,406 to -€80,086
- Debts within one year +€1,189
up €1,189 (+0.9%), from €129,281 to €130,470
of which Other debts: +€129,366
- Purchases and services +€17,872
new in 2022: €17,872
- Turnover +€6,053
new in 2022: €6,053
- Gross operating margin -€6,049
down €6,049, from €5,069 to -€980
- Other operating charges +€2,568
new in 2022: €2,568
- Depreciation +€1,376
up €1,376 (+11.7%), from €11,770 to €13,146
Change in the result, 2020 to 2022
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
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2020 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,059 | €87,568 | -€29,491 | -25.2% |
| Fixed assets | 21/28 | €85,393 | €83,088 | -€2,305 | -2.7% |
| Tangible fixed assets | 22/27 | €84,649 | €82,344 | -€2,305 | -2.7% |
| Land and buildings | 22 | - | €71,784 | +€71,784 | |
| Plant, machinery and equipment | 23 | - | €1,260 | +€1,260 | |
| Furniture and vehicles | 24 | - | €392 | +€392 | |
| Other tangible fixed assets | 26 | - | €8,908 | +€8,908 | |
| Financial fixed assets | 28 | €744 | €744 | = | 0.0% |
| Current assets | 29/58 | €31,666 | €4,480 | -€27,186 | -85.9% |
| Stocks and contracts in progress | 3 | €3,000 | €3,269 | +€269 | +9.0% |
| Stocks | 30/36 | - | €3,269 | +€3,269 | |
| Amounts receivable within one year | 40/41 | €22,073 | €841 | -€21,232 | -96.2% |
| Other amounts receivable | 41 | - | €841 | +€841 | |
| Cash at bank and in hand | 54/58 | €3,893 | €370 | -€3,523 | -90.5% |
| Total equity and liabilities | 10/49 | €117,059 | €87,568 | -€29,491 | -25.2% |
| Equity | 10/15 | -€12,222 | - | +€12,222 | |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,406 | -€80,086 | -€30,680 | -62.1% |
| Amounts payable | 17/49 | €129,281 | €130,470 | +€1,189 | +0.9% |
| Amounts payable within one year | 42/48 | €129,281 | €130,470 | +€1,189 | +0.9% |
| Trade debts | 44 | €9,667 | €485 | -€9,182 | -95.0% |
| Suppliers | 440/4 | - | €485 | +€485 | |
| Taxes, remuneration and social security | 45 | - | €619 | +€619 | |
| Taxes | 450/3 | - | €619 | +€619 | |
| Other amounts payable | 47/48 | - | €129,366 | +€129,366 | |
| Turnover | 70 | - | €6,053 | +€6,053 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €17,872 | +€17,872 | |
| Remuneration, social security and pensions | 62 | - | €1,375 | +€1,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,770 | €13,146 | +€1,376 | +11.7% |
| Other operating charges | 640/8 | - | €2,568 | +€2,568 | |
| Gross operating margin | 9900 | €5,069 | -€980 | -€6,049 | |
| Operating profit (loss) | 9901 | -€9,677 | -€18,069 | -€8,392 | -86.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | €110 | €1 | -€109 | -99.1% |
| Financial charges | 65/66B | - | €140 | +€140 | |
| Recurring financial charges | 65 | €121 | €140 | +€19 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,688 | -€18,208 | -€8,520 | -87.9% |
| Profit (loss) for the period | 9904 | -€9,688 | -€18,208 | -€8,520 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,688 | -€18,208 | -€8,520 | -87.9% |
Value
latest balance sheet 30-09-2022 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint - · 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 is not in the latest accounts.
Capitalised earnings
- 2022
- -€18,208
- 2020
- -€9,688
- 2019
- -€6,644
- Average result, excluding non-recurring income and charges
- -€11,513
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- not meaningful, as the average result is zero or negative
Your EBITDA multiple
- EBITDA 2022
- -€4,923
- Net financial debt
- -€370
- 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 30 September 2020 and 30 September 2022. Green is a favourable move for that line, red an unfavourable one. The value is an indication, not a valuation or advice. Prepared on 13 November 2026 via checked.be.