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TOD AGENCY: what changed

BE 0649.404.310NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)Other company

Position among the sector peers

What moved between 2023 and 2024

Net result for the year
-€5,828
2023 · €17,697-€23,525
Equity
€101,209
2023 · €107,037-€5,828
Cash
€39,675
2023 · €48,091-€8,417
Balance sheet total
€144,127
2023 · €143,779+€348

Largest movements

2023 to 2024
Assets
  • Receivables within one year +€17,457

    up €17,457 (+25.7%), from €68,052 to €85,509

    of which Trade receivables: +€11,703

  • Cash -€8,417

    down €8,417 (-17.5%), from €48,091 to €39,675

    mainly Receivables within one year (-€17,457) and Trade debts (-€8,505)

  • Receivables after one year -€5,263

    down €5,263 (-33.6%), from €15,669 to €10,406

  • Tangible fixed assets -€2,881

    down €2,881 (-77.6%), from €3,712 to €831

    of which Leasing and similar rights: -€3,712

Equity and liabilities
  • Accrued charges and deferred income +€19,835

    new in 2024: €19,835

  • Trade debts -€8,505

    down €8,505 (-47.3%), from €17,985 to €9,480

  • Tax, wage and social debts -€6,440

    down €6,440 (-45.4%), from €14,177 to €7,736

    of which Remuneration and social security: -€3,613

  • Profit (loss) carried forward -€5,828

    down €5,828 (-10.2%), from €57,070 to €51,242

  • Advances received +€4,154

    new in 2024: €4,154

Income statement
  • Gross operating margin -€41,128

    down €41,128 (-93.3%), from €44,078 to €2,950

  • Taxes -€9,842

    down €9,842 (-92.6%), from €10,633 to €791

  • Depreciation -€5,801

    down €5,801 (-65.7%), from €8,823 to €3,022

  • Other operating charges -€2,090

    down €2,090 (-29.5%), from €7,093 to €5,004

Change in the result, 2023 to 2024

effect on the result

For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.

Result 2023 €17,697
Gross operating margin -€41,128
Depreciation +€5,801
Other operating charges +€2,090
Financial income -€147
Financial charges +€17
Taxes +€9,842
Result 2024 -€5,828
raises the resultlowers the result

Derived cash bridge

cash 2023 to 2024

The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.

From operations -€4,176
Investment -€141
Financing -€4,099
Cash 2023 €48,091
Net result for the year -€5,828
Depreciation +€3,022
Receivables after one year +€5,263
Receivables within one year -€17,457
Deferred charges and accrued income +€548
Trade debts -€8,505
Tax, wage and social debts -€6,440
Advances received +€4,154
Other debts +€1,232
Accrued charges and deferred income +€19,835
Investment in fixed assets (net) -€141
Current portion of long-term debt -€4,099
Cash 2024 €39,675
brings cash intakes cash out
Every line side by side 46 lines
Line Code 2023 2024 Change %
Total assets 20/58 €143,779 €144,127 +€348 +0.2%
Fixed assets 21/28 €11,419 €8,537 -€2,881 -25.2%
Tangible fixed assets 22/27 €3,712 €831 -€2,881 -77.6%
Furniture and vehicles 24 - €831 +€831
Leasing and similar rights 25 €3,712 €0 -€3,712 -100%
Financial fixed assets 28 €7,706 €7,706 = 0.0%
Current assets 29/58 €132,360 €135,590 +€3,229 +2.4%
Amounts receivable after more than one year 29 €15,669 €10,406 -€5,263 -33.6%
Other amounts receivable 291 €15,669 €10,406 -€5,263 -33.6%
Amounts receivable within one year 40/41 €68,052 €85,509 +€17,457 +25.7%
Trade receivables 40 €61,061 €72,765 +€11,703 +19.2%
Other amounts receivable 41 €6,991 €12,744 +€5,754 +82.3%
Cash at bank and in hand 54/58 €48,091 €39,675 -€8,417 -17.5%
Deferred charges and accrued income 490/1 €548 €0 -€548 -100%
Total equity and liabilities 10/49 €143,779 €144,127 +€348 +0.2%
Equity 10/15 €107,037 €101,209 -€5,828 -5.4%
Contributions 10/11 €12,400 €14,260 +€1,860 +15.0%
Reserves 13 €37,567 €35,707 -€1,860 -5.0%
Non-distributable reserves 130/1 €1,860 - -€1,860
Reserves not available under the articles 1311 €1,860 - -€1,860
Tax-exempt reserves 132 €18,011 €18,011 = 0.0%
Distributable reserves 133 €17,697 €17,697 = 0.0%
Profit (loss) carried forward 14 €57,070 €51,242 -€5,828 -10.2%
Amounts payable 17/49 €36,742 €42,918 +€6,176 +16.8%
Amounts payable within one year 42/48 €36,742 €23,083 -€13,659 -37.2%
Current portion of amounts payable after more than one year 42 €4,099 - -€4,099
Trade debts 44 €17,985 €9,480 -€8,505 -47.3%
Suppliers 440/4 €17,985 €9,480 -€8,505 -47.3%
Advances received on contracts in progress 46 - €4,154 +€4,154
Taxes, remuneration and social security 45 €14,177 €7,736 -€6,440 -45.4%
Taxes 450/3 €10,564 €7,736 -€2,828 -26.8%
Remuneration and social security 454/9 €3,613 - -€3,613
Other amounts payable 47/48 €481 €1,713 +€1,232 +256%
Accrued charges and deferred income 492/3 - €19,835 +€19,835
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €8,823 €3,022 -€5,801 -65.7%
Other operating charges 640/8 €7,093 €5,004 -€2,090 -29.5%
Gross operating margin 9900 €44,078 €2,950 -€41,128 -93.3%
Operating profit (loss) 9901 €28,162 -€5,076 -€33,238
Financial income 75/76B €545 €398 -€147 -26.9%
Recurring financial income 75 €545 €398 -€147 -26.9%
Financial charges 65/66B €377 €360 -€17 -4.6%
Recurring financial charges 65 €377 €360 -€17 -4.6%
Profit (loss) for the period before taxes 9903 €28,330 -€5,038 -€33,367
Income taxes 67/77 €10,633 €791 -€9,842 -92.6%
Profit (loss) for the period 9904 €17,697 -€5,828 -€23,525
Profit (loss) for the period to be appropriated 9905 €17,697 -€5,828 -€23,525

Value

latest balance sheet 31-12-2024 · indication, not a valuation or advice

Indicative value of the equity

Indication, not a valuation or advice
€82,386 to €95,099

Midpoint €87,683 · 50% capitalised earnings, 50% adjusted equity

Capitalisation rate 12% result over 3 years earnings weight 50%

Adjusted equity €101,209
Capitalised earnings €63,564 to €88,990
Indication €82,386 to €95,099

Adjusted equity

balance sheet 31-12-2024
Equity (10/15)
€101,209
Revaluation of assets
€0
Deferred tax on the revaluation
€0
Other adjustment
€0
Adjusted equity
€101,209

Capitalised earnings

net result for the year (9904)
2024
-€5,828
2023
€17,697
2022
€14,827
2021
€8,620
2020
-€32,302
Average result
€8,899
Divided by the capitalisation rate
14% / 12% / 10%
Capitalised earnings
€63,564 / €74,158 / €88,990

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.

Calculation and sources

Source: filed annual accounts (NBB) and main activity (KBO). The movements compare the financial years ended 31 December 2023 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 9 November 2026 via checked.be.