I have got a compression test kit so I could try this. I did think these engines were non contact though like the older 8V puntos.
Cheers
The earlier 1.2's were indeed non-interference, but the later type of 1.2 with VVT is believed to be an interference engine. All 500's use the VVT engine.
If the cambelt has slipped, it is possible the engine could have been damaged.