BEE2LINK : revenue, balance sheet and financial ratios

In 2024, BEE2LINK achieves revenue of 22.7 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +16.2%. Vs 2023, growth of +38% (16.5 M€ -> 22.7 M€). After deducting consumption (3.7 M€), gross margin stands at 19.1 M€, i.e. a rate of 84%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.4 M€, representing 23.7% of revenue. Warning negative scissor effect: despite revenue change (+38%), EBITDA varies by -7%, reducing margin by 11.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.2 M€, i.e. 9.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. 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 64%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 24.0% 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 195.84. 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 0.6x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 103 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 112 days. Favorable situation: supplier credit is longer than customer credit by 9 days. Inventory turnover is 8 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 148 days of revenue, i.e. 9.3 M€ to permanently finance.

Based on 103 transactions of similar company sales (all years), the value of BEE2LINK is estimated at 4 845 217 € (range 1 806 392€ - 13 955 110€). With an EBITDA of 5 376 267€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.25x (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.