BLAISE DIFFUSION : revenue, balance sheet and financial ratios

In 2025, BLAISE DIFFUSION achieves revenue of 11 k€. Activity remains stable over the period (CAGR: -0.6%). Slight decline of -9% vs 2024. After deducting consumption (99 €), gross margin stands at 11 k€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5 k€, representing 39.8% of revenue. Warning negative scissor effect: despite revenue change (-9%), EBITDA varies by -20%, reducing margin by 5.3 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -128 € (-1.1% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 42%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 11%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 35.6% 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 267.71. 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 13.5x. 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. Inventory turnover is 475 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. WCR is negative (-434 days): operations structurally generate cash. Notable WCR improvement over the period (-265%), freeing up cash.

Based on 121 transactions of similar company sales (all years), the value of BLAISE DIFFUSION is estimated at 10 236 € (range 4 637€ - 23 512€). With an EBITDA of 4 559€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.27x (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.