SIREN : 451451603
HORIZONS VOYAGES is a French company founded 22 years ago, specialized in the sector Activités des agences de voyage. Based in MARSEILLE (13008), this company of category PME shows in 2023 a revenue of 535 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.
Data updated on 2026-05-09
Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy
| Kennzahl | 2023 | 2021 | 2020 |
|---|---|---|---|
| Umsatz | 535 094 € | 130 081 € | 472 963 € |
| Nettoergebnis | 61 893 € | 8 036 € | 29 360 € |
| EBITDA | 171 676 € | -8 177 € | 76 642 € |
| Nettomarge | 11.6% | 6.2% | 6.2% |
In 2023, HORIZONS VOYAGES achieves revenue of 535 k€. Revenue is growing positively over 3 years (CAGR: +4.2%). Vs 2021, growth of +311% (130 k€ -> 535 k€). After deducting consumption (0 €), gross margin stands at 535 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 172 k€, representing 32.1% of revenue. Positive scissor effect: EBITDA margin improves by +38.4 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 62 k€, i.e. 11.6% of revenue. This profit can be retained or distributed to shareholders.
535 094 €
535 094 €
171 676 €
81 034 €
61 893 €
32.1%
The debt ratio (= Financial debt / Equity x 100) stands at 4%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 1%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 28.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.
3.706%
0.659%
28.763%
0.017
55.4%
In 2023, the debt ratio of HORIZONS VOYAGES (3.71) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.
In 2023, the financial autonomy of HORIZONS VOYAGES (0.7%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.
In 2023, the repayment capacity of HORIZONS VOYAGES (0.02) ranks below the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. This controlled position reflects prudent management.
The liquidity ratio (= Current assets / Current liabilities) stands at 117.83. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 3.4x. Financial charges are adequately covered by operations.
117.829
3.383
In 2023, the liquidity ratio of HORIZONS VOYAGES (117.83) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.
In 2023, the interest coverage of HORIZONS VOYAGES (3.4x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.
Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 680 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 609 days. The gap of 71 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-118 days): operations structurally generate cash. Over 2020-2023, WCR increased by +47%, requiring additional financing.
-175 329 €
680 j
609 j
0 j
-118 j
Based on 80 transactions of similar company sales
(all years),
the value of HORIZONS VOYAGES is estimated at
217 869 €
(range 103 228€ - 570 886€).
With an EBITDA of 171 676€, the sector multiple of 1.6x is applied.
The price/revenue ratio is 0.38x
(conservative valuation).
This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.
Medium reliability: estimate to be confirmed with in-depth analysis.
Ajustez les pondérations selon votre analyse
This estimate is based on the analysis of 80 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.
This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).
Compare HORIZONS VOYAGES with other companies in the same sector:
Voir toutes les statistiques du secteur Activités des agences de voyage
The revenue of HORIZONS VOYAGES in 2023 is 535 k€.
Yes, HORIZONS VOYAGES generated a net profit of 62 k€ in 2023.
The headquarters of HORIZONS VOYAGES is located in MARSEILLE (13008), in the department Bouches-du-Rhone.
The tax return of HORIZONS VOYAGES is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).
HORIZONS VOYAGES operates in the sector Activités des agences de voyage (NAF code 79.11Z). See the 'Sector positioning' section above to compare the company with its competitors.