Wanaka Fund Management: 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 2023
Largest movements
- Cash -€409,755
no longer reported in 2023 (was €409,755)
- Receivables within one year -€373,627
no longer reported in 2023 (was €373,627)
of which Trade receivables: -€347,259
- Intangible fixed assets -€142,258
no longer reported in 2023 (was €142,258)
- Deferred charges and accrued income -€18,138
no longer reported in 2023 (was €18,138)
- Trade debts -€328,359
no longer reported in 2023 (was €328,359)
- Profit (loss) carried forward -€272,632
no longer reported in 2023 (was €272,632)
- Contributions -€265,000
no longer reported in 2023 (was €265,000)
- Tax, wage and social debts -€47,190
no longer reported in 2023 (was €47,190)
of which Remuneration and social security: -€45,770
- Reserves -€26,500
no longer reported in 2023 (was €26,500)
- Gross operating margin -€466,339
no longer reported in 2023 (was €466,339)
- Staff costs -€436,042
no longer reported in 2023 (was €436,042)
- Other operating charges -€20,233
no longer reported in 2023 (was €20,233)
Change in the result, 2022 to 2023
The net result is not in both sets of accounts. Without it the difference cannot be explained line by line.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €945,682 | - | -€945,682 | |
| Fixed assets | 21/28 | €144,161 | - | -€144,161 | |
| Intangible fixed assets | 21 | €142,258 | - | -€142,258 | |
| Tangible fixed assets | 22/27 | €1,903 | - | -€1,903 | |
| Furniture and vehicles | 24 | €1,903 | - | -€1,903 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €801,521 | - | -€801,521 | |
| Amounts receivable within one year | 40/41 | €373,627 | - | -€373,627 | |
| Trade receivables | 40 | €347,259 | - | -€347,259 | |
| Other amounts receivable | 41 | €26,368 | - | -€26,368 | |
| Cash at bank and in hand | 54/58 | €409,755 | - | -€409,755 | |
| Deferred charges and accrued income | 490/1 | €18,138 | - | -€18,138 | |
| Total equity and liabilities | 10/49 | €945,682 | - | -€945,682 | |
| Equity | 10/15 | €564,132 | - | -€564,132 | |
| Contributions | 10/11 | €265,000 | - | -€265,000 | |
| Capital | 10 | €265,000 | - | -€265,000 | |
| Issued capital | 100 | €265,000 | - | -€265,000 | |
| Reserves | 13 | €26,500 | - | -€26,500 | |
| Non-distributable reserves | 130/1 | €26,500 | - | -€26,500 | |
| Legal reserve | 130 | €26,500 | - | -€26,500 | |
| Profit (loss) carried forward | 14 | €272,632 | - | -€272,632 | |
| Amounts payable | 17/49 | €381,550 | - | -€381,550 | |
| Amounts payable within one year | 42/48 | €380,592 | - | -€380,592 | |
| Trade debts | 44 | €328,359 | - | -€328,359 | |
| Suppliers | 440/4 | €328,359 | - | -€328,359 | |
| Taxes, remuneration and social security | 45 | €47,190 | - | -€47,190 | |
| Taxes | 450/3 | €1,420 | - | -€1,420 | |
| Remuneration and social security | 454/9 | €45,770 | - | -€45,770 | |
| Other amounts payable | 47/48 | €5,043 | - | -€5,043 | |
| Accrued charges and deferred income | 492/3 | €958 | - | -€958 | |
| Remuneration, social security and pensions | 62 | €436,042 | - | -€436,042 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €883 | - | -€883 | |
| Other operating charges | 640/8 | €20,233 | - | -€20,233 | |
| Gross operating margin | 9900 | €466,339 | - | -€466,339 | |
| Operating profit (loss) | 9901 | €9,181 | - | -€9,181 | |
| Financial income | 75/76B | €147 | - | -€147 | |
| Recurring financial income | 75 | €147 | - | -€147 | |
| Financial charges | 65/66B | €4,031 | - | -€4,031 | |
| Recurring financial charges | 65 | €4,031 | - | -€4,031 | |
| Profit (loss) for the period before taxes | 9903 | €5,297 | - | -€5,297 | |
| Income taxes | 67/77 | €3,641 | - | -€3,641 | |
| Profit (loss) for the period | 9904 | €1,656 | - | -€1,656 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,656 | - | -€1,656 |
Value
latest balance sheet 31-12-2023 · indication, not a valuation or adviceFor holding and financial companies, the adjusted equity is usually a better measure than the earnings. Give the capitalised earnings a lower weight then.
It files consolidated accounts. This indication rests only on its own accounts, without the subsidiaries. The value of the subsidiaries is therefore not in this range.
Indicative value of the equity
Indication, not a valuation or adviceMidpoint €365,008 · capitalised earnings only
Capitalisation rate 12% result over 3 years, excluding non-recurring income and charges earnings weight 50% revaluation €0 other adjustment €0 EBITDA multiple
Worked out with Checked's starting values, not your estimate and not market data. Change the assumptions: the value follows.
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 is not in the latest accounts.
Capitalised earnings
- 2023
- -
- 2022
- €1,656
- 2021
- €119,088
- 2020
- €10,660
- 2019
- €449,283
- Average result, excluding non-recurring income and charges
- €43,801
- Divided by the capitalisation rate
- 14% / 12% / 10%
- Capitalised earnings
- €312,864 / €365,008 / €438,010
Your EBITDA multiple
- EBITDA 2023
- -
- Net financial debt
- -
- 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 result is not corrected for the manager's pay. If the company pays less or more than a market salary, the capitalised earnings are too high or too low.
- 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 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 15 November 2026 via checked.be.