DAG CONSTRUCT: 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 2026
not consecutiveLargest movements
- Tangible fixed assets +€45,645
up €45,645 (+276%), from €16,529 to €62,174
of which Furniture and vehicles: +€27,848
- Deferred charges and accrued income +€23,544
new in 2026: €23,544
- Cash +€12,132
up €12,132 (+194%), from €6,239 to €18,371
- Receivables within one year +€8,939
up €8,939 (+22.8%), from €39,121 to €48,060
of which Trade receivables: +€9,194
- Debts after one year +€37,254
new in 2026: €37,254
- Profit (loss) carried forward +€23,096
up €23,096 (+121%), from €19,074 to €42,170
- Current portion of long-term debt +€17,454
new in 2026: €17,454
- Tax, wage and social debts +€12,475
up €12,475 (+225%), from €5,549 to €18,024
of which Taxes: +€6,876
- Trade debts -€2,538
down €2,538 (-6.9%), from €36,825 to €34,287
of which Bills of exchange payable: -€3,642
- Purchases and services +€445,189
new in 2026: €445,189
- Gross operating margin +€56,341
up €56,341 (+159%), from €35,331 to €91,672
- Staff costs +€49,861
new in 2026: €49,861
- Depreciation +€17,462
up €17,462 (+377%), from €4,628 to €22,090
- Financial charges +€5,034
up €5,034 (+90.3%), from €5,574 to €10,608
Change in the result, 2024 to 2026
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 | 2024 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,949 | €152,208 | +€90,260 | +146% |
| Fixed assets | 21/28 | €16,589 | €62,234 | +€45,645 | +275% |
| Tangible fixed assets | 22/27 | €16,529 | €62,174 | +€45,645 | +276% |
| Plant, machinery and equipment | 23 | €2,781 | €20,577 | +€17,797 | +640% |
| Furniture and vehicles | 24 | €13,748 | €41,596 | +€27,848 | +203% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €45,360 | €89,975 | +€44,615 | +98.4% |
| Amounts receivable within one year | 40/41 | €39,121 | €48,060 | +€8,939 | +22.8% |
| Trade receivables | 40 | €35,564 | €44,759 | +€9,194 | +25.9% |
| Other amounts receivable | 41 | €3,557 | €3,301 | -€256 | -7.2% |
| Cash at bank and in hand | 54/58 | €6,239 | €18,371 | +€12,132 | +194% |
| Deferred charges and accrued income | 490/1 | - | €23,544 | +€23,544 | |
| Total equity and liabilities | 10/49 | €61,949 | €152,208 | +€90,260 | +146% |
| Equity | 10/15 | €19,574 | €42,670 | +€23,096 | +118% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,074 | €42,170 | +€23,096 | +121% |
| Amounts payable | 17/49 | €42,374 | €109,539 | +€67,164 | +159% |
| Amounts payable after more than one year | 17 | - | €37,254 | +€37,254 | |
| Financial debts | 170/4 | - | €37,254 | +€37,254 | |
| Amounts payable within one year | 42/48 | €42,374 | €72,284 | +€29,910 | +70.6% |
| Current portion of amounts payable after more than one year | 42 | - | €17,454 | +€17,454 | |
| Financial debts | 43 | - | €2,519 | +€2,519 | |
| Credit institutions | 430/8 | - | €2,519 | +€2,519 | |
| Trade debts | 44 | €36,825 | €34,287 | -€2,538 | -6.9% |
| Suppliers | 440/4 | €32,225 | €33,329 | +€1,104 | +3.4% |
| Bills of exchange payable | 441 | €4,600 | €958 | -€3,642 | -79.2% |
| Taxes, remuneration and social security | 45 | €5,549 | €18,024 | +€12,475 | +225% |
| Taxes | 450/3 | €5,483 | €12,359 | +€6,876 | +125% |
| Remuneration and social security | 454/9 | €67 | €5,665 | +€5,598 | +8,397% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €445,189 | +€445,189 | |
| Remuneration, social security and pensions | 62 | - | €49,861 | +€49,861 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,628 | €22,090 | +€17,462 | +377% |
| Other operating charges | 640/8 | €573 | €1,769 | +€1,196 | +209% |
| Gross operating margin | 9900 | €35,331 | €91,672 | +€56,341 | +159% |
| Operating profit (loss) | 9901 | €30,131 | €17,952 | -€12,178 | -40.4% |
| Financial charges | 65/66B | €5,574 | €10,608 | +€5,034 | +90.3% |
| Recurring financial charges | 65 | €5,574 | €10,608 | +€5,034 | +90.3% |
| Profit (loss) for the period before taxes | 9903 | €24,557 | €7,345 | -€17,212 | -70.1% |
| Transfer from deferred taxes | 780 | - | €439 | +€439 | |
| Income taxes | 67/77 | €5,483 | €3,505 | -€1,978 | -36.1% |
| Profit (loss) for the period | 9904 | €19,074 | €4,280 | -€14,795 | -77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,074 | €4,280 | -€14,795 | -77.6% |
Value
latest balance sheet 31-01-2026 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint €69,989 · 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)
- €42,670
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- €0
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- €42,670
Capitalised earnings
- 2026
- €4,280
- 2024
- €19,074
- Average result, excluding non-recurring income and charges
- €11,677
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- €83,407 / €97,308 / €116,770
Your EBITDA multiple
- EBITDA 2026
- €40,042
- Net financial debt
- €38,857
- Your multiple
- -
- Value with your multiple
- -
Net financial debt is the sum of financial debts after one year, the part due within the year and short-term financial debts, less cash and current investments.
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 January 2024 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. The value is an indication, not a valuation or advice. Prepared on 9 November 2026 via checked.be.