Emm's 2 Go: 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 2022 and 2024
not consecutiveLargest movements
- Cash +€27,058
up €27,058 (+314%), from €8,627 to €35,685
- Deferred charges and accrued income -€11,947
down €11,947 (-39.0%), from €30,647 to €18,700
- Tangible fixed assets -€3,099
down €3,099 (-21.9%), from €14,130 to €11,031
of which Other tangible fixed assets: -€3,826
- Profit (loss) carried forward +€8,533
up €8,533 (+11.3%), from €75,756 to €84,289
- Trade debts +€4,449
up €4,449 (+537%), from €828 to €5,277
- Gross operating margin -€14,532
down €14,532 (-63.0%), from €23,050 to €8,518
- Depreciation +€1,063
up €1,063 (+67.7%), from €1,570 to €2,633
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 | €80,020 | €92,566 | +€12,546 | +15.7% |
| Fixed assets | 21/28 | €14,130 | €11,031 | -€3,099 | -21.9% |
| Tangible fixed assets | 22/27 | €14,130 | €11,031 | -€3,099 | -21.9% |
| Plant, machinery and equipment | 23 | - | €727 | +€727 | |
| Other tangible fixed assets | 26 | €14,130 | €10,304 | -€3,826 | -27.1% |
| Current assets | 29/58 | €65,890 | €81,535 | +€15,645 | +23.7% |
| Amounts receivable after more than one year | 29 | €26,616 | €26,616 | = | 0.0% |
| Trade receivables | 290 | - | €26,616 | +€26,616 | |
| Other amounts receivable | 291 | €26,616 | - | -€26,616 | |
| Amounts receivable within one year | 40/41 | - | €534 | +€534 | |
| Other amounts receivable | 41 | - | €534 | +€534 | |
| Cash at bank and in hand | 54/58 | €8,627 | €35,685 | +€27,058 | +314% |
| Deferred charges and accrued income | 490/1 | €30,647 | €18,700 | -€11,947 | -39.0% |
| Total equity and liabilities | 10/49 | €80,020 | €92,566 | +€12,546 | +15.7% |
| Equity | 10/15 | €78,756 | €87,289 | +€8,533 | +10.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,756 | €84,289 | +€8,533 | +11.3% |
| Amounts payable | 17/49 | €1,265 | €5,277 | +€4,013 | +317% |
| Amounts payable within one year | 42/48 | €1,265 | €5,277 | +€4,013 | +317% |
| Trade debts | 44 | €828 | €5,277 | +€4,449 | +537% |
| Suppliers | 440/4 | €828 | €5,277 | +€4,449 | +537% |
| Taxes, remuneration and social security | 45 | €437 | - | -€437 | |
| Taxes | 450/3 | €437 | - | -€437 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,570 | €2,633 | +€1,063 | +67.7% |
| Other operating charges | 640/8 | €552 | €564 | +€12 | +2.2% |
| Gross operating margin | 9900 | €23,050 | €8,518 | -€14,532 | -63.0% |
| Operating profit (loss) | 9901 | €20,929 | €5,322 | -€15,607 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | €20,929 | €5,322 | -€15,607 | -74.6% |
| Profit (loss) for the period | 9904 | €20,929 | €5,322 | -€15,607 | -74.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,929 | €5,322 | -€15,607 | -74.6% |
Value
latest balance sheet 31-12-2024 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint €156,253 · 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)
- €87,289
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- €0
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- €87,289
Capitalised earnings
- 2024
- €5,322
- 2022
- €20,929
- 2021
- €54,827
- Average result, excluding non-recurring income and charges
- €27,026
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- €193,043 / €225,217 / €270,260
Your EBITDA multiple
- EBITDA 2024
- €7,955
- Net financial debt
- -€35,685
- 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 13 November 2026 via checked.be.