A.S.- ASSURANCE & SOUSCRIPTION : revenue, balance sheet and financial ratios

In 2024, A.S.- ASSURANCE & SOUSCRIPTION achieves revenue of 3.8 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.8%. Significant drop of -13% vs 2023. After deducting consumption (0 €), gross margin stands at 3.8 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 696 k€, representing 18.2% of revenue. Positive scissor effect: EBITDA margin improves by +21.1 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 351 k€, i.e. 9.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1016%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 5%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 6.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 13.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 207.85. 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 1.8x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 148 days. Excellent situation: suppliers finance 148 days of the operating cycle (retail model). Overall, WCR represents 123 days of revenue, i.e. 1.3 M€ to permanently finance. Over 2016-2024, WCR increased by +69%, requiring additional financing.

Based on 193 transactions of similar company sales (all years), the value of A.S.- ASSURANCE & SOUSCRIPTION is estimated at 1 692 775 € (range 490 782€ - 4 897 892€). With an EBITDA of 696 429€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.98x (in line with sector norms). 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.