BRIANE : revenue, balance sheet and financial ratios

In 2024, BRIANE achieves revenue of 5.4 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +19.5%. Slight decline of -4% vs 2023. After deducting consumption (3.4 M€), gross margin stands at 1.9 M€, i.e. a rate of 36%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 431 k€, representing 8.0% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -35%, reducing margin by 3.9 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 217 k€, i.e. 4.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 83%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 43%. 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 3.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.8% 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 318.53. 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 6.2x. 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: 2 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 35 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Inventory turnover is 130 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 132 days of revenue, i.e. 2.0 M€ to permanently finance. Over 2018-2024, WCR increased by +69%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (30 transactions). This range of 719 939€ to 3 212 118€ is provided for information purposes only and requires in-depth analysis to be confirmed.