AIR TREATMENT SYSTEMS : revenue, balance sheet and financial ratios

AIR TREATMENT SYSTEMS is a French company founded 24 years ago, specialized in the sector Travaux d'installation d'équipements thermiques et de climatisation. Based in VALBONNE (06560), this company of category PME shows in 2024 a revenue of 4.9 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-18

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - AIR TREATMENT SYSTEMS (SIREN 438632317)
Indicator 2024 2023 2022 2021 2019 2018 2017 2016
Revenue 4 939 065 € 3 862 242 € 2 921 757 € 3 075 316 € 2 102 389 € 2 922 038 € 2 868 157 € 4 558 950 €
Net income -175 820 € 9 481 € 80 498 € 25 425 € 25 893 € 38 468 € 348 174 € -661 534 €
EBITDA -14 382 € 78 840 € 186 086 € 126 439 € 163 025 € 330 702 € 414 798 € -889 480 €
Net margin -3.6% 0.2% 2.8% 0.8% 1.2% 1.3% 12.1% -14.5%

Revenue and income statement

In 2024, AIR TREATMENT SYSTEMS achieves revenue of 4.9 M€. Revenue is growing positively over 8 years (CAGR: +1.0%). Vs 2023, growth of +28% (3.9 M€ -> 4.9 M€). After deducting consumption (2.2 M€), gross margin stands at 2.8 M€, i.e. a rate of 56%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -14 k€, representing -0.3% of revenue. Warning negative scissor effect: despite revenue change (+28%), EBITDA varies by -118%, reducing margin by 2.3 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -176 k€ (-3.6% of revenue), which will impact equity.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

4 939 065 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

2 768 668 €

EBITDA (2024) ?
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

-14 382 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-131 771 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-175 820 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-0.3%

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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 86%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

85.844%

Financial autonomy (2024) ?
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

14.982%

Cash flow / Revenue (2024) ?
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

-3.332%

Repayment capacity (2024) ?
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

-0.8

Asset age ratio (2024) ?
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

10.1%

Solvency indicators evolution
AIR TREATMENT SYSTEMS

Sector positioning

Debt ratio
85.84 2024
2022
2023
2024
Q1: 1.0
Med: 13.24
Q3: 41.25
Average

In 2024, the debt ratio of AIR TREATMENT SYSTEMS (85.84) 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
14.98% 2024
2022
2023
2024
Q1: 17.51%
Med: 38.82%
Q3: 57.73%
Average -17 pts over 3 years

In 2024, the financial autonomy of AIR TREATMENT SYSTEMS (15.0%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-0.8 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.09 years
Q3: 1.03 years
Excellent -50 pts over 3 years

In 2024, the repayment capacity of AIR TREATMENT SYSTEMS (-0.80) 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 125.17. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2024) ?
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

125.166

Interest coverage (2024) ?
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

-47.302

Liquidity indicators evolution
AIR TREATMENT SYSTEMS

Sector positioning

Liquidity ratio
125.17 2024
2022
2023
2024
Q1: 154.24
Med: 215.08
Q3: 312.23
Watch -14 pts over 3 years

In 2024, the liquidity ratio of AIR TREATMENT SYSTEMS (125.17) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
-47.3x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.09x
Q3: 2.3x
Watch -48 pts over 3 years

In 2024, the interest coverage of AIR TREATMENT SYSTEMS (-47.3x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 97 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 81 days. The company must finance 16 days of gap between collections and payments. Inventory turnover is 17 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 96 days of revenue, i.e. 1.3 M€ to permanently finance. Over 2016-2024, WCR increased by +53%, requiring additional financing.

Operating WCR (2024) ?
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

1 317 545 €

Customer credit (2024) ?
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

97 j

Supplier credit (2024) ?
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

81 j

Inventory turnover (2024) ?
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

17 j

WCR in days of revenue (2024) ?
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

96 j

WCR and payment terms evolution
AIR TREATMENT SYSTEMS

Positioning of AIR TREATMENT SYSTEMS in its sector

Comparison with sector Travaux d'installation d'équipements thermiques et de climatisation

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (28 transactions). This range of 565 907€ to 870 464€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2024
Indicative
565k€ 786k€ 870k€
786 341 € Range: 565 907€ - 870 464€
NAF 5 année 2024

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 28 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 (Travaux d'installation d'équipements thermiques et de climatisation)

Compare AIR TREATMENT SYSTEMS with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux d'installation d'équipements thermiques et de climatisation

Frequently asked questions about AIR TREATMENT SYSTEMS

What is the revenue of AIR TREATMENT SYSTEMS ?

The revenue of AIR TREATMENT SYSTEMS in 2024 is 4.9 M€.

Is AIR TREATMENT SYSTEMS profitable?

AIR TREATMENT SYSTEMS recorded a net loss in 2024.

Where is the headquarters of AIR TREATMENT SYSTEMS ?

The headquarters of AIR TREATMENT SYSTEMS is located in VALBONNE (06560), in the department Alpes-Maritimes.

Where to find the tax return of AIR TREATMENT SYSTEMS ?

The tax return of AIR TREATMENT SYSTEMS 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 AIR TREATMENT SYSTEMS operate?

AIR TREATMENT SYSTEMS operates in the sector Travaux d'installation d'équipements thermiques et de climatisation (NAF code 43.22B). See the 'Sector positioning' section above to compare the company with its competitors.