CODE RACING DEVELOPMENT : revenue, balance sheet and financial ratios

CODE RACING DEVELOPMENT is a French company founded 8 years ago, specialized in the sector Location de courte durée de voitures et de véhicules automobiles légers. Based in BOULAZAC ISLE MANOIRE (24330), this company of category PME shows in 2024 a revenue of 1.1 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - CODE RACING DEVELOPMENT (SIREN 832458467)
Indicator 2024 2020
Revenue 1 131 080 € 217 071 €
Net income 10 492 € -47 427 €
EBITDA 6 790 € 19 182 €
Net margin 0.9% -21.8%

Revenue and income statement

In 2024, CODE RACING DEVELOPMENT achieves revenue of 1.1 M€. Vs 2020, growth of +421% (217 k€ -> 1.1 M€). After deducting consumption (392 k€), gross margin stands at 739 k€, i.e. a rate of 65%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7 k€, representing 0.6% of revenue. Warning negative scissor effect: despite revenue change (+421%), EBITDA varies by -65%, reducing margin by 8.2 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 10 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

1 131 080 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

739 213 €

EBITDA (2024) ?
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

6 790 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

13 060 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

10 492 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

0.6%

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Chart evolution

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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 69%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 6%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

69.439%

Financial autonomy (2024) ?
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

6.352%

Cash flow / Revenue (2024) ?
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

4.92%

Repayment capacity (2024) ?
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

0.587

Asset age ratio (2024) ?
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

75.3%

Solvency indicators evolution
CODE RACING DEVELOPMENT

Sector positioning

Debt ratio
69.44 2024
2020
2024
Q1: 0.0
Med: 14.45
Q3: 116.44
Average +39 pts over 2 years

In 2024, the debt ratio of CODE RACING DEVELOPMENT (69.44) 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
6.35% 2024
2020
2024
Q1: 0.16%
Med: 21.35%
Q3: 49.45%
Average -43 pts over 2 years

In 2024, the financial autonomy of CODE RACING DEVELOPMENT (6.3%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
0.59 years 2024
2020
2024
Q1: 0.0 years
Med: 0.01 years
Q3: 2.21 years
Average -18 pts over 2 years

In 2024, the repayment capacity of CODE RACING DEVELOPMENT (0.59) 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 86.67. 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 8.2x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2024) ?
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

86.665

Interest coverage (2024) ?
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

8.218

Liquidity indicators evolution
CODE RACING DEVELOPMENT

Sector positioning

Liquidity ratio
86.67 2024
2020
2024
Q1: 75.41
Med: 176.35
Q3: 352.3
Average -15 pts over 2 years

In 2024, the liquidity ratio of CODE RACING DEVELOPMENT (86.67) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
8.22x 2024
2020
2024
Q1: 0.0x
Med: 0.0x
Q3: 6.57x
Excellent

In 2024, the interest coverage of CODE RACING DEVELOPMENT (8.2x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 178 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 191 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 67 days (= Average inventory / Cost of goods x 360). WCR is negative (-46 days): operations structurally generate cash.

Operating WCR (2024) ?
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

-143 658 €

Customer credit (2024) ?
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

178 j

Supplier credit (2024) ?
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

191 j

Inventory turnover (2024) ?
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

67 j

WCR in days of revenue (2024) ?
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

-46 j

WCR and payment terms evolution
CODE RACING DEVELOPMENT

Positioning of CODE RACING DEVELOPMENT in its sector

Comparison with sector Location de courte durée de voitures et de véhicules automobiles légers

Valuation estimate

Based on 276 transactions of similar company sales (all years), the value of CODE RACING DEVELOPMENT is estimated at 858 180 € (range 193 767€ - 1 160 792€). With an EBITDA of 6 790€, the sector multiple of 11.9x is applied. The price/revenue ratio is 2.33x (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.

Estimated enterprise value 2024
276 transactions
193k€ 858k€ 1160k€
858 180 € Range: 193 767€ - 1 160 792€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
6 790 € × 11.9x
Estimation 81 130 €
16 498€ - 110 390€
Revenue Multiple 30%
1 131 080 € × 2.33x
Estimation 2 639 524 €
616 259€ - 3 432 251€
Net Income Multiple 20%
10 492 € × 12.3x
Estimation 128 793 €
3 204€ - 379 610€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 276 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 (Location de courte durée de voitures et de véhicules automobiles légers)

Compare CODE RACING DEVELOPMENT with other companies in the same sector:

Voir toutes les statistiques du secteur Location de courte durée de voitures et de véhicules automobiles légers

Frequently asked questions about CODE RACING DEVELOPMENT

What is the revenue of CODE RACING DEVELOPMENT ?

The revenue of CODE RACING DEVELOPMENT in 2024 is 1.1 M€.

Is CODE RACING DEVELOPMENT profitable?

Yes, CODE RACING DEVELOPMENT generated a net profit of 10 k€ in 2024.

Where is the headquarters of CODE RACING DEVELOPMENT ?

The headquarters of CODE RACING DEVELOPMENT is located in BOULAZAC ISLE MANOIRE (24330), in the department Dordogne.

Where to find the tax return of CODE RACING DEVELOPMENT ?

The tax return of CODE RACING DEVELOPMENT 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 CODE RACING DEVELOPMENT operate?

CODE RACING DEVELOPMENT operates in the sector Location de courte durée de voitures et de véhicules automobiles légers (NAF code 77.11A). See the 'Sector positioning' section above to compare the company with its competitors.