BALSAN INVESTISSEMENT : revenue, balance sheet and financial ratios

In 2025, BALSAN INVESTISSEMENT achieves revenue of 529 k€. Over the period 2023-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +72.5%. Vs 2024, growth of +114% (247 k€ -> 529 k€). After deducting consumption (380 k€), gross margin stands at 149 k€, i.e. a rate of 28%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 66 k€, representing 12.4% of revenue. Warning negative scissor effect: despite revenue change (+114%), EBITDA varies by +13%, reducing margin by 11.2 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 39 k€, i.e. 7.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 39%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 16%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 9.0% 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 181.93. 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 19.5x. 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: 95 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 154 days. Excellent situation: suppliers finance 59 days of the operating cycle (retail model). Inventory turnover is 240 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 86 days of revenue, i.e. 126 k€ to permanently finance.

Based on 113 transactions of similar company sales in 2025, the value of BALSAN INVESTISSEMENT is estimated at 89 888 € (range 38 423€ - 190 281€). With an EBITDA of 65 677€, the sector multiple of 0.7x is applied. The price/revenue ratio is 0.21x (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.