BELLE VUE : revenue, balance sheet and financial ratios

In 2024, BELLE VUE achieves revenue of 2.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +20.0%. Vs 2023, growth of +13% (2.1 M€ -> 2.3 M€). After deducting consumption (654 k€), gross margin stands at 1.7 M€, i.e. a rate of 72%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 189 k€, representing 8.2% of revenue. Warning negative scissor effect: despite revenue change (+13%), EBITDA varies by -29%, reducing margin by 4.9 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 272 k€, i.e. 11.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 25%. 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 57%. 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 2.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.2% 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 321.78. 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 6.8x. 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: 41 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 107 days. Excellent situation: suppliers finance 66 days of the operating cycle (retail model). Inventory turnover is 63 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 255 days of revenue, i.e. 1.6 M€ to permanently finance. Over 2016-2024, WCR increased by +236%, requiring additional financing.

Based on 153 transactions of similar company sales (all years), the value of BELLE VUE is estimated at 2 187 384 € (range 1 186 779€ - 3 445 996€). With an EBITDA of 189 458€, the sector multiple of 7.1x is applied. The price/revenue ratio is 1.61x (premium 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.