LES SAVEURS DU VERGER: 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
- Receivables within one year +€64,552
up €64,552 (+53.1%), from €121,612 to €186,164
of which Other amounts receivable: +€63,109
- Cash -€15,479
down €15,479 (-33.2%), from €46,611 to €31,132
- Tangible fixed assets +€15,254
up €15,254 (+45.9%), from €33,209 to €48,463
of which Other tangible fixed assets: +€19,451
- Reserves +€44,602
new in 2024: €44,602
- Tax, wage and social debts -€24,098
down €24,098 (-71.3%), from €33,810 to €9,712
- Profit (loss) carried forward +€17,080
up €17,080 (+13.9%), from €122,743 to €139,823
- Current portion of long-term debt +€12,980
up €12,980 (+233%), from €5,573 to €18,553
- Trade debts +€6,590
up €6,590 (+71.4%), from €9,226 to €15,816
- Gross operating margin -€78,926
down €78,926 (-49.1%), from €160,638 to €81,712
- Taxes -€14,079
down €14,079 (-41.6%), from €33,810 to €19,731
- Depreciation +€8,499
up €8,499 (+398%), from €2,137 to €10,637
- Financial income +€5,974
up €5,974 (+183%), from €3,263 to €9,237
- Financial charges +€2,749
up €2,749 (+277%), from €992 to €3,741
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 | €202,054 | €265,758 | +€63,704 | +31.5% |
| Fixed assets | 21/28 | €33,209 | €48,463 | +€15,254 | +45.9% |
| Tangible fixed assets | 22/27 | €33,209 | €48,463 | +€15,254 | +45.9% |
| Plant, machinery and equipment | 23 | €25,185 | €24,882 | -€304 | -1.2% |
| Leasing and similar rights | 25 | €8,023 | €4,130 | -€3,893 | -48.5% |
| Other tangible fixed assets | 26 | - | €19,451 | +€19,451 | |
| Current assets | 29/58 | €168,846 | €217,296 | +€48,450 | +28.7% |
| Amounts receivable within one year | 40/41 | €121,612 | €186,164 | +€64,552 | +53.1% |
| Trade receivables | 40 | €41,162 | €42,605 | +€1,443 | +3.5% |
| Other amounts receivable | 41 | €80,450 | €143,559 | +€63,109 | +78.4% |
| Cash at bank and in hand | 54/58 | €46,611 | €31,132 | -€15,479 | -33.2% |
| Deferred charges and accrued income | 490/1 | €623 | - | -€623 | |
| Total equity and liabilities | 10/49 | €202,054 | €265,758 | +€63,704 | +31.5% |
| Equity | 10/15 | €127,743 | €189,425 | +€61,682 | +48.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €44,602 | +€44,602 | |
| Distributable reserves | 133 | - | €44,602 | +€44,602 | |
| Profit (loss) carried forward | 14 | €122,743 | €139,823 | +€17,080 | +13.9% |
| Amounts payable | 17/49 | €74,312 | €76,333 | +€2,022 | +2.7% |
| Amounts payable after more than one year | 17 | €25,703 | €32,253 | +€6,550 | +25.5% |
| Financial debts | 170/4 | €25,703 | €32,253 | +€6,550 | +25.5% |
| Amounts payable within one year | 42/48 | €48,609 | €44,081 | -€4,529 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €5,573 | €18,553 | +€12,980 | +233% |
| Trade debts | 44 | €9,226 | €15,816 | +€6,590 | +71.4% |
| Suppliers | 440/4 | €9,226 | €15,816 | +€6,590 | +71.4% |
| Taxes, remuneration and social security | 45 | €33,810 | €9,712 | -€24,098 | -71.3% |
| Taxes | 450/3 | €33,810 | €9,712 | -€24,098 | -71.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,137 | €10,637 | +€8,499 | +398% |
| Other operating charges | 640/8 | €4,219 | €2,237 | -€1,981 | -47.0% |
| Gross operating margin | 9900 | €160,638 | €81,712 | -€78,926 | -49.1% |
| Operating profit (loss) | 9901 | €154,282 | €68,838 | -€85,444 | -55.4% |
| Financial income | 75/76B | €3,263 | €9,237 | +€5,974 | +183% |
| Recurring financial income | 75 | €3,263 | €9,237 | +€5,974 | +183% |
| Financial charges | 65/66B | €992 | €3,741 | +€2,749 | +277% |
| Recurring financial charges | 65 | €992 | €3,741 | +€2,749 | +277% |
| Profit (loss) for the period before taxes | 9903 | €156,553 | €74,333 | -€82,219 | -52.5% |
| Income taxes | 67/77 | €33,810 | €19,731 | -€14,079 | -41.6% |
| Profit (loss) for the period | 9904 | €122,743 | €54,602 | -€68,141 | -55.5% |
| Profit (loss) for the period to be appropriated | 9905 | €122,743 | €54,602 | -€68,141 | -55.5% |
Value
latest balance sheet 31-12-2024 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint €464,179 · 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)
- €189,425
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- €0
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- €189,425
Capitalised earnings
- 2024
- €54,602
- 2022
- €122,743
- Average result, excluding non-recurring income and charges
- €88,672
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- €633,371 / €738,933 / €886,720
Your EBITDA multiple
- EBITDA 2024
- €79,475
- Net financial debt
- €19,673
- 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 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 12 November 2026 via checked.be.