Compact Location: 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 2023 and 2024
Largest movements
- Tangible fixed assets -€80,192
down €80,192 (-71.3%), from €112,443 to €32,251
of which Plant, machinery and equipment: -€76,601
- Cash -€32,737
down €32,737 (-52.4%), from €62,467 to €29,730
mainly Debts after one year (-€41,497) and Net result for the year (-€29,337)
- Receivables within one year +€12,760
up €12,760 (+33.8%), from €37,704 to €50,464
of which Other amounts receivable: +€12,338
- Deferred charges and accrued income -€4,093
down €4,093 (-80.5%), from €5,087 to €994
- Debts after one year -€41,497
no longer reported in 2024 (was €41,497)
- Current portion of long-term debt -€25,512
down €25,512 (-63.2%), from €40,338 to €14,826
- Reserves -€20,076
down €20,076 (-11.8%), from €169,988 to €149,912
of which Tax-exempt reserves: -€20,076
- Profit (loss) carried forward -€9,261
down €9,261 (-18.8%), from -€49,288 to -€58,549
- Provisions -€6,692
no longer reported in 2024 (was €6,692)
- Depreciation -€20,650
down €20,650 (-37.6%), from €54,980 to €34,330
- Gross operating margin -€18,576
down €18,576 (-78.2%), from €23,766 to €5,190
- Write-downs +€2,604
up €2,604 (+99.6%), from €2,615 to €5,219
- Taxes -€2,251
no longer reported in 2024 (was €2,251)
- Financial charges -€766
down €766 (-41.5%), from €1,847 to €1,081
Change in the result, 2023 to 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 2023 and 2024 balance sheets and the 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 | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €217,771 | €113,509 | -€104,262 | -47.9% |
| Fixed assets | 21/28 | €112,443 | €32,251 | -€80,192 | -71.3% |
| Tangible fixed assets | 22/27 | €112,443 | €32,251 | -€80,192 | -71.3% |
| Plant, machinery and equipment | 23 | €101,208 | €24,607 | -€76,601 | -75.7% |
| Furniture and vehicles | 24 | €11,235 | €7,644 | -€3,591 | -32.0% |
| Current assets | 29/58 | €105,328 | €81,258 | -€24,070 | -22.9% |
| Amounts receivable within one year | 40/41 | €37,704 | €50,464 | +€12,760 | +33.8% |
| Trade receivables | 40 | €16,173 | €16,595 | +€422 | +2.6% |
| Other amounts receivable | 41 | €21,531 | €33,869 | +€12,338 | +57.3% |
| Current investments | 50/53 | €70 | €70 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,467 | €29,730 | -€32,737 | -52.4% |
| Deferred charges and accrued income | 490/1 | €5,087 | €994 | -€4,093 | -80.5% |
| Total equity and liabilities | 10/49 | €217,771 | €113,509 | -€104,262 | -47.9% |
| Equity | 10/15 | €126,900 | €97,563 | -€29,337 | -23.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €169,988 | €149,912 | -€20,076 | -11.8% |
| Tax-exempt reserves | 132 | €20,076 | - | -€20,076 | |
| Distributable reserves | 133 | €149,912 | €149,912 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,288 | -€58,549 | -€9,261 | -18.8% |
| Provisions and deferred taxes | 16 | €6,692 | - | -€6,692 | |
| Deferred taxes | 168 | €6,692 | - | -€6,692 | |
| Amounts payable | 17/49 | €84,179 | €15,946 | -€68,233 | -81.1% |
| Amounts payable after more than one year | 17 | €41,497 | - | -€41,497 | |
| Financial debts | 170/4 | €41,497 | - | -€41,497 | |
| Amounts payable within one year | 42/48 | €42,682 | €15,946 | -€26,736 | -62.6% |
| Current portion of amounts payable after more than one year | 42 | €40,338 | €14,826 | -€25,512 | -63.2% |
| Trade debts | 44 | €2,344 | €1,120 | -€1,224 | -52.2% |
| Suppliers | 440/4 | €2,344 | €1,120 | -€1,224 | -52.2% |
| Non-recurring operating income | 76A | - | €786 | +€786 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,980 | €34,330 | -€20,650 | -37.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,615 | €5,219 | +€2,604 | +99.6% |
| Other operating charges | 640/8 | €1,044 | €1,345 | +€301 | +28.8% |
| Gross operating margin | 9900 | €23,766 | €5,190 | -€18,576 | -78.2% |
| Operating profit (loss) | 9901 | -€34,873 | -€35,704 | -€831 | -2.4% |
| Financial income | 75/76B | €601 | €756 | +€155 | +25.8% |
| Recurring financial income | 75 | €601 | €756 | +€155 | +25.8% |
| Financial charges | 65/66B | €1,847 | €1,081 | -€766 | -41.5% |
| Recurring financial charges | 65 | €1,847 | €1,081 | -€766 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | -€36,119 | -€36,029 | +€90 | +0.2% |
| Transfer from deferred taxes | 780 | €3,780 | €6,692 | +€2,912 | +77.0% |
| Income taxes | 67/77 | €2,251 | - | -€2,251 | |
| Profit (loss) for the period | 9904 | -€34,590 | -€29,337 | +€5,253 | +15.2% |
| Transfer from tax-exempt reserves | 789 | €11,342 | €20,076 | +€8,734 | +77.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,248 | -€9,261 | +€13,987 | +60.2% |
Value
latest balance sheet 31-12-2024 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint €97,563 · 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)
- €97,563
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- €0
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- €97,563
Capitalised earnings
- 2024
- -€29,337
- excluding non-recurring income and charges
- -€30,123
- 2023
- -€34,590
- 2022
- -€48,913
- 2021
- €106,308
- excluding non-recurring income and charges
- -€30,760
- 2020
- €165,264
- Average result, excluding non-recurring income and charges
- -€37,875
- 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
- -€1,374
- Net financial debt
- -€14,974
- 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 11 November 2026 via checked.be.