CJ Performance: 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 2024 and 2025
Largest movements
- Tangible fixed assets +€37,102
up €37,102 (+437%), from €8,492 to €45,593
of which Other tangible fixed assets: +€32,150
- Cash -€27,024
down €27,024 (-57.2%), from €47,253 to €20,229
mainly Investment in fixed assets (net) (-€41,552) and Tax, wage and social debts (-€2,741)
- Receivables within one year -€7,399
down €7,399 (-70.9%), from €10,432 to €3,032
- Profit (loss) carried forward +€10,161
up €10,161 (+29.6%), from €34,319 to €44,480
- Tax, wage and social debts -€2,741
down €2,741 (-13.7%), from €19,950 to €17,209
of which Taxes: -€1,541
- Trade debts -€2,229
down €2,229 (-25.3%), from €8,826 to €6,597
- Other debts -€1,669
down €1,669 (-85.0%), from €1,965 to €296
- Accrued charges and deferred income -€796
no longer reported in 2025 (was €796)
- Gross operating margin -€3,661
down €3,661 (-14.2%), from €25,785 to €22,124
- Depreciation +€3,300
up €3,300 (+287%), from €1,150 to €4,451
- Taxes -€1,852
down €1,852 (-22.8%), from €8,134 to €6,282
- Financial charges +€280
up €280 (+146%), from €191 to €471
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 | €67,856 | €70,582 | +€2,726 | +4.0% |
| Fixed assets | 21/28 | €8,492 | €45,593 | +€37,102 | +437% |
| Tangible fixed assets | 22/27 | €8,492 | €45,593 | +€37,102 | +437% |
| Plant, machinery and equipment | 23 | €2,748 | €8,309 | +€5,561 | +202% |
| Furniture and vehicles | 24 | €2,200 | €1,590 | -€610 | -27.7% |
| Other tangible fixed assets | 26 | €3,544 | €35,694 | +€32,150 | +907% |
| Current assets | 29/58 | €59,364 | €24,988 | -€34,376 | -57.9% |
| Amounts receivable within one year | 40/41 | €10,432 | €3,032 | -€7,399 | -70.9% |
| Trade receivables | 40 | €10,432 | €3,032 | -€7,399 | -70.9% |
| Cash at bank and in hand | 54/58 | €47,253 | €20,229 | -€27,024 | -57.2% |
| Deferred charges and accrued income | 490/1 | €1,680 | €1,727 | +€47 | +2.8% |
| Total equity and liabilities | 10/49 | €67,856 | €70,582 | +€2,726 | +4.0% |
| Equity | 10/15 | €36,319 | €46,480 | +€10,161 | +28.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,319 | €44,480 | +€10,161 | +29.6% |
| Amounts payable | 17/49 | €31,537 | €24,102 | -€7,435 | -23.6% |
| Amounts payable within one year | 42/48 | €30,740 | €24,102 | -€6,639 | -21.6% |
| Trade debts | 44 | €8,826 | €6,597 | -€2,229 | -25.3% |
| Suppliers | 440/4 | €8,826 | €6,597 | -€2,229 | -25.3% |
| Taxes, remuneration and social security | 45 | €19,950 | €17,209 | -€2,741 | -13.7% |
| Taxes | 450/3 | €18,750 | €17,209 | -€1,541 | -8.2% |
| Remuneration and social security | 454/9 | €1,200 | - | -€1,200 | |
| Other amounts payable | 47/48 | €1,965 | €296 | -€1,669 | -85.0% |
| Accrued charges and deferred income | 492/3 | €796 | - | -€796 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,150 | €4,451 | +€3,300 | +287% |
| Other operating charges | 640/8 | €866 | €759 | -€107 | -12.4% |
| Gross operating margin | 9900 | €25,785 | €22,124 | -€3,661 | -14.2% |
| Operating profit (loss) | 9901 | €23,768 | €16,914 | -€6,854 | -28.8% |
| Financial charges | 65/66B | €191 | €471 | +€280 | +146% |
| Recurring financial charges | 65 | €191 | €471 | +€280 | +146% |
| Profit (loss) for the period before taxes | 9903 | €23,577 | €16,443 | -€7,134 | -30.3% |
| Income taxes | 67/77 | €8,134 | €6,282 | -€1,852 | -22.8% |
| Profit (loss) for the period | 9904 | €15,443 | €10,161 | -€5,282 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,443 | €10,161 | -€5,282 | -34.2% |
Value
latest balance sheet 31-12-2025 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint €85,019 · 50% capitalised earnings, 50% adjusted equity
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)
- €46,480
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- €0
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- €46,480
Capitalised earnings
- 2025
- €10,161
- 2024
- €15,443
- 2023
- €18,876
- Average result, excluding non-recurring income and charges
- €14,827
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- €105,907 / €123,558 / €148,270
Your EBITDA multiple
- EBITDA 2025
- €21,365
- Net financial debt
- -€20,229
- 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 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. The value is an indication, not a valuation or advice. Prepared on 10 November 2026 via checked.be.