ABLIANCE : revenue, balance sheet and financial ratios

In 2025, ABLIANCE achieves revenue of 631 k€. Activity remains stable over the period (CAGR: -1.8%). Slight decline of -4% vs 2024. After deducting consumption (127 k€), gross margin stands at 505 k€, i.e. a rate of 80%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 68 k€, representing 10.8% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -36%, reducing margin by 5.4 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 55 k€, i.e. 8.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 14%. 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 54%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 226.18. 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 7.3x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 34 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 73 days. Excellent situation: suppliers finance 39 days of the operating cycle (retail model). Inventory turnover is 108 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 133 days of revenue, i.e. 232 k€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (27 transactions). This range of 11 000€ to 33 810€ is provided for information purposes only and requires in-depth analysis to be confirmed.