AERO PHOTO EUROPE INVESTIGATION : revenue, balance sheet and financial ratios

AERO PHOTO EUROPE INVESTIGATION is a French company founded 46 years ago, specialized in the sector Activités photographiques. Based in TOULON-SUR-ALLIER (03400), this company of category PME shows in 2025 a revenue of 1.1 M€. 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

Financial history - AERO PHOTO EUROPE INVESTIGATION (SIREN 318637196)
Indicator 2025 2024 2023 2022 2021 2020 2019 2018 2017
Revenue 1 118 231 € 3 458 026 € 3 348 565 € 2 872 780 € 2 770 673 € 3 107 473 € 3 170 227 € 2 270 754 € 2 465 091 €
Net income -632 593 € 1 473 697 € 272 021 € 380 212 € 397 389 € 432 116 € 219 403 € 105 924 € 198 344 €
EBITDA -760 860 € 1 053 745 € 312 782 € 718 650 € 540 983 € 912 113 € 564 191 € 325 610 € 646 433 €
Net margin -56.6% 42.6% 8.1% 13.2% 14.3% 13.9% 6.9% 4.7% 8.0%

Revenue and income statement

In 2025, AERO PHOTO EUROPE INVESTIGATION achieves revenue of 1.1 M€. Revenue is declining over the period 2017-2025 (CAGR: -9.4%). Significant drop of -68% vs 2024. After deducting consumption (133 k€), gross margin stands at 985 k€, i.e. a rate of 88%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -761 k€, representing -68.0% of revenue. Warning negative scissor effect: despite revenue change (-68%), EBITDA varies by -172%, reducing margin by 98.5 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -633 k€ (-56.6% of revenue), which will impact equity.

Revenue (2025) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

1 118 231 €

Gross margin (2025) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

984 884 €

EBITDA (2025) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

-760 860 €

EBIT (2025) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-844 595 €

Net income (2025) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-632 593 €

EBITDA margin (2025) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-68.0%

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 24%. 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 76%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

Debt ratio (2025) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

24.255%

Financial autonomy (2025) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

76.023%

Cash flow / Revenue (2025) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

-47.535%

Repayment capacity (2025) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

-0.702

Asset age ratio (2025) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

25.3%

Solvency indicators evolution
AERO PHOTO EUROPE INVESTIGATION

Sector positioning

Debt ratio
24.25 2025
2023
2024
2025
Q1: 0.15
Med: 7.88
Q3: 43.19
Average +12 pts over 3 years

In 2025, the debt ratio of AERO PHOTO EUROPE INVESTI... (24.25) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
76.02% 2025
2023
2024
2025
Q1: 6.01%
Med: 43.86%
Q3: 73.77%
Excellent +8 pts over 3 years

In 2025, the financial autonomy of AERO PHOTO EUROPE INVESTI... (76.0%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
-0.7 years 2025
2023
2024
2025
Q1: 0.0 years
Med: 0.0 years
Q3: 0.94 years
Excellent -45 pts over 3 years

In 2025, the repayment capacity of AERO PHOTO EUROPE INVESTI... (-0.70) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 1571.88. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2025) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

1571.885

Interest coverage (2025) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

-0.134

Liquidity indicators evolution
AERO PHOTO EUROPE INVESTIGATION

Sector positioning

Liquidity ratio
1571.88 2025
2023
2024
2025
Q1: 128.4
Med: 242.21
Q3: 424.9
Excellent +27 pts over 3 years

In 2025, the liquidity ratio of AERO PHOTO EUROPE INVESTI... (1571.88) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
-0.13x 2025
2023
2024
2025
Q1: 0.0x
Med: 0.0x
Q3: 1.44x
Average -34 pts over 3 years

In 2025, the interest coverage of AERO PHOTO EUROPE INVESTI... (-0.1x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 139 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 6 days. The gap of 133 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 302 days of revenue, i.e. 939 k€ to permanently finance.

Operating WCR (2025) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

938 766 €

Customer credit (2025) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

139 j

Supplier credit (2025) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

6 j

Inventory turnover (2025) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

3 j

WCR in days of revenue (2025) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

302 j

WCR and payment terms evolution
AERO PHOTO EUROPE INVESTIGATION

Positioning of AERO PHOTO EUROPE INVESTIGATION in its sector

Comparison with sector Activités photographiques

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (31 transactions). This range of 241 193€ to 585 878€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2025
Indicative
241k€ 333k€ 585k€
333 588 € Range: 241 193€ - 585 878€
NAF 5 all-time
How is this estimate calculated?

This estimate is based on the analysis of 31 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Activités photographiques)

Compare AERO PHOTO EUROPE INVESTIGATION with other companies in the same sector:

Voir toutes les statistiques du secteur Activités photographiques

Frequently asked questions about AERO PHOTO EUROPE INVESTIGATION

What is the revenue of AERO PHOTO EUROPE INVESTIGATION ?

The revenue of AERO PHOTO EUROPE INVESTIGATION in 2025 is 1.1 M€.

Is AERO PHOTO EUROPE INVESTIGATION profitable?

AERO PHOTO EUROPE INVESTIGATION recorded a net loss in 2025.

Where is the headquarters of AERO PHOTO EUROPE INVESTIGATION ?

The headquarters of AERO PHOTO EUROPE INVESTIGATION is located in TOULON-SUR-ALLIER (03400), in the department Allier.

Where to find the tax return of AERO PHOTO EUROPE INVESTIGATION ?

The tax return of AERO PHOTO EUROPE INVESTIGATION 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).

In which sector does AERO PHOTO EUROPE INVESTIGATION operate?

AERO PHOTO EUROPE INVESTIGATION operates in the sector Activités photographiques (NAF code 74.20Z). See the 'Sector positioning' section above to compare the company with its competitors.