BST - BATIMENT SANITAIRE THERMIQUE : revenue, balance sheet and financial ratios

BST - BATIMENT SANITAIRE THERMIQUE is a French company founded 54 years ago, specialized in the sector Travaux d'installation d'équipements thermiques et de climatisation. Based in PACE (35740), this company of category ETI shows in 2023 a revenue of 16.0 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-25

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - BST - BATIMENT SANITAIRE THERMIQUE (SIREN 327195095)
Indicator 2023 2022 2021 2020 2019 2017
Revenue 15 987 713 € 15 281 842 € 17 612 460 € 14 606 526 € 20 190 344 € 19 208 478 €
Net income 1 179 647 € 295 121 € 753 321 € -632 396 € 305 693 € 358 041 €
EBITDA 1 954 206 € 615 325 € 828 036 € -419 938 € 842 657 € 548 015 €
Net margin 7.4% 1.9% 4.3% -4.3% 1.5% 1.9%

Revenue and income statement

In 2023, BST - BATIMENT SANITAIRE THERMIQUE achieves revenue of 16.0 M€. Activity remains stable over the period (CAGR: -3.0%). Vs 2022: +5%. After deducting consumption (5.2 M€), gross margin stands at 10.8 M€, i.e. a rate of 68%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.0 M€, representing 12.2% of revenue. Positive scissor effect: EBITDA margin improves by +8.2 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.2 M€, i.e. 7.4% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

15 987 713 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

10 813 452 €

EBITDA (2023) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

1 954 206 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

1 875 728 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

1 179 647 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

12.2%

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 20%. 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 42%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

20.178%

Financial autonomy (2023) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

41.752%

Cash flow / Revenue (2023) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

7.72%

Repayment capacity (2023) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

0.713

Asset age ratio (2023) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

18.9%

Solvency indicators evolution
BST - BATIMENT SANITAIRE THERMIQUE

Sector positioning

Debt ratio
20.18 2023
2021
2022
2023
Q1: 2.09
Med: 17.22
Q3: 54.06
Average -6 pts over 3 years

In 2023, the debt ratio of BST - BATIMENT SANITAIRE ... (20.18) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
41.75% 2023
2021
2022
2023
Q1: 15.57%
Med: 35.33%
Q3: 53.92%
Good -6 pts over 3 years

In 2023, the financial autonomy of BST - BATIMENT SANITAIRE ... (41.8%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
0.71 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.21 years
Q3: 1.37 years
Average -14 pts over 3 years

In 2023, the repayment capacity of BST - BATIMENT SANITAIRE ... (0.71) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 281.75. 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 1.0x. Coverage is limited: any activity downturn would jeopardize interest payments.

Liquidity ratio (2023) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

281.747

Interest coverage (2023) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

1.02

Liquidity indicators evolution
BST - BATIMENT SANITAIRE THERMIQUE

Sector positioning

Liquidity ratio
281.75 2023
2021
2022
2023
Q1: 152.96
Med: 207.19
Q3: 302.49
Good -5 pts over 3 years

In 2023, the liquidity ratio of BST - BATIMENT SANITAIRE ... (281.75) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
1.02x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.26x
Q3: 2.24x
Good -15 pts over 3 years

In 2023, the interest coverage of BST - BATIMENT SANITAIRE ... (1.0x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 59 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 51 days. The company must finance 8 days of gap between collections and payments. Inventory turnover is 18 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 38 days of revenue, i.e. 1.7 M€ to permanently finance. Notable WCR improvement over the period (-41%), freeing up cash.

Operating WCR (2023) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

1 680 469 €

Customer credit (2023) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

59 j

Supplier credit (2023) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

51 j

Inventory turnover (2023) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

18 j

WCR in days of revenue (2023) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

38 j

WCR and payment terms evolution
BST - BATIMENT SANITAIRE THERMIQUE

Positioning of BST - BATIMENT SANITAIRE THERMIQUE in its sector

Comparison with sector Travaux d'installation d'équipements thermiques et de climatisation

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (26 transactions). This range of 1 540 255€ to 4 207 662€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2023
Indicative
1540k€ 2080k€ 4207k€
2 080 145 € Range: 1 540 255€ - 4 207 662€
NAF 5 année 2023

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 26 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Travaux d'installation d'équipements thermiques et de climatisation)

Compare BST - BATIMENT SANITAIRE THERMIQUE with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux d'installation d'équipements thermiques et de climatisation

Frequently asked questions about BST - BATIMENT SANITAIRE THERMIQUE

What is the revenue of BST - BATIMENT SANITAIRE THERMIQUE ?

The revenue of BST - BATIMENT SANITAIRE THERMIQUE in 2023 is 16.0 M€.

Is BST - BATIMENT SANITAIRE THERMIQUE profitable?

Yes, BST - BATIMENT SANITAIRE THERMIQUE generated a net profit of 1.2 M€ in 2023.

Where is the headquarters of BST - BATIMENT SANITAIRE THERMIQUE ?

The headquarters of BST - BATIMENT SANITAIRE THERMIQUE is located in PACE (35740), in the department Ille-et-Vilaine.

Where to find the tax return of BST - BATIMENT SANITAIRE THERMIQUE ?

The tax return of BST - BATIMENT SANITAIRE THERMIQUE is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does BST - BATIMENT SANITAIRE THERMIQUE operate?

BST - BATIMENT SANITAIRE THERMIQUE operates in the sector Travaux d'installation d'équipements thermiques et de climatisation (NAF code 43.22B). See the 'Sector positioning' section above to compare the company with its competitors.