COMBIPASS SAS : revenue, balance sheet and financial ratios

COMBIPASS SAS is a French company founded 30 years ago, specialized in the sector Location et location-bail d'autres machines, équipements et biens matériels n.c.a. . Based in AVIGNON (84000), this company of category ETI shows in 2024 a revenue of 9.2 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 - COMBIPASS SAS (SIREN 403309305)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Revenue 9 203 896 € 8 712 879 € 6 474 575 € 6 034 199 € 5 448 013 € 5 294 669 € 5 089 444 € 4 308 655 € 3 908 854 € 3 982 628 €
Net income 967 537 € 778 707 € 336 480 € 146 670 € -68 551 € -277 043 € 154 585 € 498 492 € 666 618 € 1 439 094 €
EBITDA 3 722 860 € 3 711 977 € 3 067 678 € 3 052 721 € 3 055 343 € 3 054 869 € 2 636 192 € 2 291 637 € 2 012 993 € 2 179 217 €
Net margin 10.5% 8.9% 5.2% 2.4% -1.3% -5.2% 3.0% 11.6% 17.1% 36.1%

Revenue and income statement

In 2024, COMBIPASS SAS achieves revenue of 9.2 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.8%. Vs 2023: +6%. After deducting consumption (3.2 M€), gross margin stands at 6.0 M€, i.e. a rate of 65%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.7 M€, representing 40.4% of revenue. Warning negative scissor effect: despite revenue change (+6%), EBITDA varies by +0%, reducing margin by 2.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 968 k€, i.e. 10.5% 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

9 203 896 €

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

5 957 048 €

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

3 722 860 €

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

995 841 €

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

967 537 €

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

40.4%

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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 149%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 38%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 37.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

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

148.736%

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

37.925%

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

36.976%

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

5.508

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

43.4%

Solvency indicators evolution
COMBIPASS SAS

Sector positioning

Debt ratio
148.74 2024
2022
2023
2024
Q1: -100.0
Med: 0.64
Q3: 140.56
Average

In 2024, the debt ratio of COMBIPASS SAS (148.74) 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
37.92% 2024
2022
2023
2024
Q1: 0.16%
Med: 27.61%
Q3: 57.05%
Good +7 pts over 3 years

In 2024, the financial autonomy of COMBIPASS SAS (37.9%) 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
5.51 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 1.47 years
Q3: 3.37 years
Average

In 2024, the repayment capacity of COMBIPASS SAS (5.51) 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 803.07. 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 10.3x. 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

803.066

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

10.321

Liquidity indicators evolution
COMBIPASS SAS

Sector positioning

Liquidity ratio
803.07 2024
2022
2023
2024
Q1: 5.79
Med: 108.88
Q3: 285.52
Excellent

In 2024, the liquidity ratio of COMBIPASS SAS (803.07) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
10.32x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.31x
Q3: 3.91x
Excellent

In 2024, the interest coverage of COMBIPASS SAS (10.3x) 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: 47 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 85 days. Excellent situation: suppliers finance 38 days of the operating cycle (retail model). Overall, WCR represents 344 days of revenue, i.e. 8.8 M€ to permanently finance. Over 2015-2024, WCR increased by +1410%, requiring additional financing.

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

8 803 066 €

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

47 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

85 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

0 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

344 j

WCR and payment terms evolution
COMBIPASS SAS

Positioning of COMBIPASS SAS in its sector

Comparison with sector Location et location-bail d'autres machines, équipements et biens matériels n.c.a.

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (38 transactions). This range of 5 828 469€ to 10 334 002€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2024
Indicative
5828k€ 6410k€ 10334k€
6 410 293 € Range: 5 828 469€ - 10 334 002€
NAF 5 all-time

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 38 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 et location-bail d'autres machines, équipements et biens matériels n.c.a. )

Compare COMBIPASS SAS with other companies in the same sector:

Voir toutes les statistiques du secteur Location et location-bail d'autres machines, équipements et biens matériels n.c.a.

Frequently asked questions about COMBIPASS SAS

What is the revenue of COMBIPASS SAS ?

The revenue of COMBIPASS SAS in 2024 is 9.2 M€.

Is COMBIPASS SAS profitable?

Yes, COMBIPASS SAS generated a net profit of 968 k€ in 2024.

Where is the headquarters of COMBIPASS SAS ?

The headquarters of COMBIPASS SAS is located in AVIGNON (84000), in the department Vaucluse.

Where to find the tax return of COMBIPASS SAS ?

The tax return of COMBIPASS SAS 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 COMBIPASS SAS operate?

COMBIPASS SAS operates in the sector Location et location-bail d'autres machines, équipements et biens matériels n.c.a. (NAF code 77.39Z). See the 'Sector positioning' section above to compare the company with its competitors.