EL BARKA: 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 2022 and 2024
not consecutiveLargest movements
- Cash -€7,625
down €7,625 (-35.1%), from €21,698 to €14,073
- Tangible fixed assets +€7,296
up €7,296 (+236%), from €3,086 to €10,382
of which Furniture and vehicles: +€8,072
- Receivables within one year -€6,040
down €6,040 (-88.3%), from €6,840 to €800
- Stocks and contracts +€2,500
up €2,500 (+167%), from €1,500 to €4,000
- Intangible fixed assets -€2,000
no longer reported in 2024 (was €2,000)
- Tax, wage and social debts +€8,179
up €8,179 (+982%), from €833 to €9,011
- Profit (loss) carried forward -€6,165
down €6,165 (-9.3%), from -€66,442 to -€72,607
- Other debts -€5,927
down €5,927 (-7.6%), from €77,755 to €71,828
- Trade debts -€2,102
down €2,102 (-41.3%), from €5,090 to €2,988
- Gross operating margin -€12,187
down €12,187 (-56.2%), from €21,683 to €9,496
- Depreciation +€4,091
up €4,091 (+153%), from €2,676 to €6,767
- Staff costs +€3,717
new in 2024: €3,717
- Financial charges -€1,330
down €1,330 (-82.2%), from €1,618 to €289
- Other operating charges +€1,316
up €1,316 (+34.1%), from €3,860 to €5,176
Change in the result, 2022 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
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 | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,836 | €29,821 | -€6,015 | -16.8% |
| Fixed assets | 21/28 | €5,086 | €10,382 | +€5,296 | +104% |
| Intangible fixed assets | 21 | €2,000 | - | -€2,000 | |
| Tangible fixed assets | 22/27 | €3,086 | €10,382 | +€7,296 | +236% |
| Land and buildings | 22 | €2,790 | €1,540 | -€1,249 | -44.8% |
| Plant, machinery and equipment | 23 | €296 | €770 | +€474 | +160% |
| Furniture and vehicles | 24 | - | €8,072 | +€8,072 | |
| Current assets | 29/58 | €30,750 | €19,439 | -€11,311 | -36.8% |
| Stocks and contracts in progress | 3 | €1,500 | €4,000 | +€2,500 | +167% |
| Stocks | 30/36 | €1,500 | €4,000 | +€2,500 | +167% |
| Amounts receivable within one year | 40/41 | €6,840 | €800 | -€6,040 | -88.3% |
| Other amounts receivable | 41 | €6,840 | €800 | -€6,040 | -88.3% |
| Cash at bank and in hand | 54/58 | €21,698 | €14,073 | -€7,625 | -35.1% |
| Deferred charges and accrued income | 490/1 | €712 | €566 | -€146 | -20.5% |
| Total equity and liabilities | 10/49 | €35,836 | €29,821 | -€6,015 | -16.8% |
| Equity | 10/15 | -€47,842 | -€54,007 | -€6,165 | -12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,442 | -€72,607 | -€6,165 | -9.3% |
| Amounts payable | 17/49 | €83,678 | €83,828 | +€150 | +0.2% |
| Amounts payable within one year | 42/48 | €83,678 | €83,828 | +€150 | +0.2% |
| Trade debts | 44 | €5,090 | €2,988 | -€2,102 | -41.3% |
| Suppliers | 440/4 | €5,090 | €2,988 | -€2,102 | -41.3% |
| Taxes, remuneration and social security | 45 | €833 | €9,011 | +€8,179 | +982% |
| Taxes | 450/3 | €833 | €9,011 | +€8,179 | +982% |
| Other amounts payable | 47/48 | €77,755 | €71,828 | -€5,927 | -7.6% |
| Remuneration, social security and pensions | 62 | - | €3,717 | +€3,717 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,676 | €6,767 | +€4,091 | +153% |
| Other operating charges | 640/8 | €3,860 | €5,176 | +€1,316 | +34.1% |
| Gross operating margin | 9900 | €21,683 | €9,496 | -€12,187 | -56.2% |
| Operating profit (loss) | 9901 | €15,146 | -€6,164 | -€21,310 | |
| Financial charges | 65/66B | €1,618 | €289 | -€1,330 | -82.2% |
| Recurring financial charges | 65 | €1,618 | €289 | -€1,330 | -82.2% |
| Profit (loss) for the period before taxes | 9903 | €13,528 | -€6,453 | -€19,981 | |
| Income taxes | 67/77 | €657 | €494 | -€162 | -24.7% |
| Profit (loss) for the period | 9904 | €12,871 | -€6,947 | -€19,818 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,871 | -€6,947 | -€19,818 |
Value
latest balance sheet 31-12-2024 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint €7,717 · 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)
- -€54,007
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- €0
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- -€54,007
Capitalised earnings
- 2024
- -€6,947
- 2022
- €12,871
- 2021
- €19,073
- 2020
- €2,378
- 2019
- -€7,084
- Average result, excluding non-recurring income and charges
- €8,333
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- €59,521 / €69,442 / €83,330
Your EBITDA multiple
- EBITDA 2024
- €603
- Net financial debt
- -€14,073
- 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 2022 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 14 November 2026 via checked.be.