Lunchroom Select Bio: 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 2023
Largest movements
- Cash +€94,436
up €94,436 (+332%), from €28,413 to €122,849
mainly Net result for the year (+€39,513) and Receivables within one year (+€30,061)
- Receivables within one year -€30,061
down €30,061 (-64.1%), from €46,901 to €16,840
- Financial fixed assets +€15,000
new in 2023: €15,000
- Intangible fixed assets -€3,500
down €3,500 (-12.5%), from €28,000 to €24,500
- Profit (loss) carried forward +€39,513
up €39,513 (+121%), from €32,617 to €72,130
- Trade debts +€21,983
up €21,983 (+319%), from €6,895 to €28,878
- Accrued charges and deferred income -€21,500
no longer reported in 2023 (was €21,500)
- Tax, wage and social debts +€21,403
up €21,403 (+669%), from €3,200 to €24,603
of which Taxes: +€14,409
- Other debts +€7,345
up €7,345 (+18.1%), from €40,602 to €47,947
- Gross operating margin +€45,007
up €45,007 (+99.4%), from €45,261 to €90,268
- Staff costs +€29,601
new in 2023: €29,601
- Taxes +€11,209
up €11,209 (+350%), from €3,200 to €14,409
- Financial income +€1,211
new in 2023: €1,211
Change in the result, 2022 to 2023
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 2022 and 2023 balance sheets and the 2023 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 | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,314 | €180,939 | +€75,625 | +71.8% |
| Fixed assets | 21/28 | €30,000 | €41,250 | +€11,250 | +37.5% |
| Intangible fixed assets | 21 | €28,000 | €24,500 | -€3,500 | -12.5% |
| Tangible fixed assets | 22/27 | €2,000 | €1,750 | -€250 | -12.5% |
| Plant, machinery and equipment | 23 | €2,000 | €1,750 | -€250 | -12.5% |
| Financial fixed assets | 28 | - | €15,000 | +€15,000 | |
| Current assets | 29/58 | €75,314 | €139,689 | +€64,375 | +85.5% |
| Amounts receivable within one year | 40/41 | €46,901 | €16,840 | -€30,061 | -64.1% |
| Other amounts receivable | 41 | €46,901 | €16,840 | -€30,061 | -64.1% |
| Cash at bank and in hand | 54/58 | €28,413 | €122,849 | +€94,436 | +332% |
| Total equity and liabilities | 10/49 | €105,314 | €180,939 | +€75,625 | +71.8% |
| Equity | 10/15 | €33,117 | €72,630 | +€39,513 | +119% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,617 | €72,130 | +€39,513 | +121% |
| Amounts payable | 17/49 | €72,197 | €108,309 | +€36,112 | +50.0% |
| Amounts payable after more than one year | 17 | - | €6,881 | +€6,881 | |
| Financial debts | 170/4 | - | €6,881 | +€6,881 | |
| Amounts payable within one year | 42/48 | €50,697 | €101,428 | +€50,731 | +100% |
| Trade debts | 44 | €6,895 | €28,878 | +€21,983 | +319% |
| Suppliers | 440/4 | €6,895 | €28,878 | +€21,983 | +319% |
| Taxes, remuneration and social security | 45 | €3,200 | €24,603 | +€21,403 | +669% |
| Taxes | 450/3 | €3,200 | €17,609 | +€14,409 | +450% |
| Remuneration and social security | 454/9 | - | €6,994 | +€6,994 | |
| Other amounts payable | 47/48 | €40,602 | €47,947 | +€7,345 | +18.1% |
| Accrued charges and deferred income | 492/3 | €21,500 | - | -€21,500 | |
| Remuneration, social security and pensions | 62 | - | €29,601 | +€29,601 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,750 | €3,750 | = | 0.0% |
| Other operating charges | 640/8 | €323 | €443 | +€120 | +37.2% |
| Gross operating margin | 9900 | €45,261 | €90,268 | +€45,007 | +99.4% |
| Operating profit (loss) | 9901 | €41,188 | €56,474 | +€15,286 | +37.1% |
| Financial income | 75/76B | - | €1,211 | +€1,211 | |
| Recurring financial income | 75 | - | €1,211 | +€1,211 | |
| Financial charges | 65/66B | €3,860 | €3,763 | -€97 | -2.5% |
| Recurring financial charges | 65 | €3,860 | €3,763 | -€97 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €37,328 | €53,922 | +€16,594 | +44.5% |
| Income taxes | 67/77 | €3,200 | €14,409 | +€11,209 | +350% |
| Profit (loss) for the period | 9904 | €34,128 | €39,513 | +€5,385 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,128 | €39,513 | +€5,385 | +15.8% |
Value
latest balance sheet 30-09-2023 · indication, not a valuation or adviceIndicative value of the equity
Indication, not a valuation or adviceMidpoint €97,844 · 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)
- €72,630
- Formation expenses (20)
- €0
- Intangible fixed assets (21)
- -€24,500
- Revaluation of assets
- €0
- Deferred tax on the revaluation
- €0
- Other adjustment
- €0
- Adjusted equity
- €48,130
Capitalised earnings
- 2023
- €39,513
- 2022
- €34,128
- 2021
- -€20,520
- Average result, excluding non-recurring income and charges
- €17,707
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- €126,479 / €147,558 / €177,070
Your EBITDA multiple
- EBITDA 2023
- €60,224
- Net financial debt
- -€115,968
- 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 30 September 2022 and 30 September 2023. 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.