CODIS VOYAGES : revenue, balance sheet and financial ratios

CODIS VOYAGES is a French company founded 18 years ago, specialized in the sector Activités des agences de voyage. Based in COGNAC (16100), this company of category ETI shows in 2022 a revenue of 409 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - CODIS VOYAGES (SIREN 502830318)
Indicator 2022 2021 2020 2019 2018 2017
Revenue 408 512 € 183 699 € 176 553 € 786 565 € 606 742 € 590 967 €
Net income -33 178 € -17 305 € -112 797 € 48 874 € 8 905 € 6 301 €
EBITDA -25 097 € -9 474 € -106 132 € 78 238 € 19 964 € 14 702 €
Net margin -8.1% -9.4% -63.9% 6.2% 1.5% 1.1%

Revenue and income statement

In 2022, CODIS VOYAGES achieves revenue of 409 k€. Revenue is declining over the period 2017-2022 (CAGR: -7.1%). Vs 2021, growth of +122% (184 k€ -> 409 k€). After deducting consumption (0 €), gross margin stands at 409 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -25 k€, representing -6.1% of revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -33 k€ (-8.1% of revenue), which will impact equity.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

408 512 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

408 512 €

EBITDA (2022) ?
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

-25 097 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-33 178 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-33 178 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-6.1%

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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 0%. 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 -68%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.0%

Financial autonomy (2022) ?
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

-68.382%

Cash flow / Revenue (2022) ?
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

-6.247%

Repayment capacity (2022) ?
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

0.0

Asset age ratio (2022) ?
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

10.7%

Solvency indicators evolution
CODIS VOYAGES

Sector positioning

Debt ratio
0.0 2022
2020
2021
2022
Q1: 0.02
Med: 20.31
Q3: 77.29
Excellent

In 2022, the debt ratio of CODIS VOYAGES (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
-68.38% 2022
2020
2021
2022
Q1: 8.83%
Med: 26.08%
Q3: 44.89%
Average

In 2022, the financial autonomy of CODIS VOYAGES (-68.4%) 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
0.0 years 2022
2020
2021
2022
Q1: 0.0 years
Med: 0.05 years
Q3: 1.88 years
Excellent -25 pts over 3 years

In 2022, the repayment capacity of CODIS VOYAGES (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 57.92. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2022) ?
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

57.925

Interest coverage (2022) ?
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

0.0

Liquidity indicators evolution
CODIS VOYAGES

Sector positioning

Liquidity ratio
57.92 2022
2020
2021
2022
Q1: 120.45
Med: 171.35
Q3: 289.27
Watch -10 pts over 3 years

In 2022, the liquidity ratio of CODIS VOYAGES (57.92) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
0.0x 2022
2020
2021
2022
Q1: 0.0x
Med: 0.01x
Q3: 2.57x
Average -25 pts over 3 years

In 2022, the interest coverage of CODIS VOYAGES (0.0x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 390 days. Excellent situation: suppliers finance 390 days of the operating cycle (retail model). Overall, WCR represents 98 days of revenue, i.e. 111 k€ to permanently finance. Over 2017-2022, WCR increased by +730%, requiring additional financing.

Operating WCR (2022) ?
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

110 678 €

Customer credit (2022) ?
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

0 j

Supplier credit (2022) ?
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

390 j

Inventory turnover (2022) ?
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

0 j

WCR in days of revenue (2022) ?
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

98 j

WCR and payment terms evolution
CODIS VOYAGES

Positioning of CODIS VOYAGES in its sector

Comparison with sector Activités des agences de voyage

Valuation estimate

Based on 80 transactions of similar company sales (all years), the value of CODIS VOYAGES is estimated at 155 647 € (range 98 912€ - 230 145€). The price/revenue ratio is 0.38x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.

Estimated enterprise value 2022
80 tx
98k€ 155k€ 230k€
155 647 € Range: 98 912€ - 230 145€
NAF 5 all-time

Valuation method used

Revenue Multiple
408 512 € × 0.38x = 155 648 €
Range: 98 913€ - 230 146€

Only this financial indicator is available for this company.

How is this estimate calculated?

This estimate is based on the analysis of 80 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 (Activités des agences de voyage)

Compare CODIS VOYAGES with other companies in the same sector:

Voir toutes les statistiques du secteur Activités des agences de voyage

Frequently asked questions about CODIS VOYAGES

What is the revenue of CODIS VOYAGES ?

The revenue of CODIS VOYAGES in 2022 is 409 k€.

Is CODIS VOYAGES profitable?

CODIS VOYAGES recorded a net loss in 2022.

Where is the headquarters of CODIS VOYAGES ?

The headquarters of CODIS VOYAGES is located in COGNAC (16100), in the department Charente.

Where to find the tax return of CODIS VOYAGES ?

The tax return of CODIS VOYAGES 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 CODIS VOYAGES operate?

CODIS VOYAGES operates in the sector Activités des agences de voyage (NAF code 79.11Z). See the 'Sector positioning' section above to compare the company with its competitors.