COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) : revenue, balance sheet and financial ratios

COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) is a French company founded 28 years ago, specialized in the sector Collecte et traitement des eaux usées. Based in VALLONS-DE-L'ERDRE (44540), this company of category GE shows in 2025 a revenue of 716 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 - COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) (SIREN 418857769)
Indicator 2025 2024 2023 2022 2021 2020 2019 2018 2017
Revenue 716 103 € 646 736 € 303 301 € 321 200 € 282 948 € 406 259 € 326 037 € 284 385 € 122 030 €
Net income -100 859 € 9 504 € 7 486 € 9 977 € 4 666 € 10 386 € 7 975 € 5 794 € 2 591 €
EBITDA 27 644 € 43 326 € -230 818 € -191 440 € -221 168 € -213 047 € -225 435 € -211 514 € -102 816 €
Net margin -14.1% 1.5% 2.5% 3.1% 1.6% 2.6% 2.4% 2.0% 2.1%

Revenue and income statement

In 2025, COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) achieves revenue of 716 k€. Over the period 2017-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +24.8%. Vs 2024, growth of +11% (647 k€ -> 716 k€). After deducting consumption (0 €), gross margin stands at 716 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 28 k€, representing 3.9% of revenue. Warning negative scissor effect: despite revenue change (+11%), EBITDA varies by -36%, reducing margin by 2.8 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -101 k€ (-14.1% of revenue), which will impact equity.

Revenue (2025) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

716 103 €

Gross margin (2025) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

716 103 €

EBITDA (2025) ?
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

27 644 €

EBIT (2025) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-96 776 €

Net income (2025) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-100 859 €

EBITDA margin (2025) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

3.9%

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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 4954%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 1%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 3.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2025) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

4953.673%

Financial autonomy (2025) ?
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

0.785%

Cash flow / Revenue (2025) ?
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

3.29%

Repayment capacity (2025) ?
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

4.752

Asset age ratio (2025) ?
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

1.9%

Solvency indicators evolution
COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE)

Sector positioning

Debt ratio
4953.67 2025
2023
2024
2025
Q1: 8.76
Med: 27.23
Q3: 57.09
Watch +38 pts over 3 years

In 2025, the debt ratio of COMPAGNIE MARSIENNE DE GE... (4953.67) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
0.79% 2025
2023
2024
2025
Q1: 37.87%
Med: 50.22%
Q3: 63.06%
Watch -32 pts over 3 years

In 2025, the financial autonomy of COMPAGNIE MARSIENNE DE GE... (0.8%) ranks in the bottom 25% of the sector. This ratio represents the share of equity in total financing. Low autonomy may limit investment capacity and increase vulnerability.

Repayment capacity
4.75 years 2025
2023
2024
2025
Q1: 0.13 years
Med: 0.78 years
Q3: 2.65 years
Watch +52 pts over 3 years

In 2025, the repayment capacity of COMPAGNIE MARSIENNE DE GE... (4.75) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 149.17. 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 16.4x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2025) ?
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

149.168

Interest coverage (2025) ?
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

16.448

Liquidity indicators evolution
COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE)

Sector positioning

Liquidity ratio
149.17 2025
2023
2024
2025
Q1: 169.97
Med: 217.5
Q3: 325.97
Watch -11 pts over 3 years

In 2025, the liquidity ratio of COMPAGNIE MARSIENNE DE GE... (149.17) 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
16.45x 2025
2023
2024
2025
Q1: 0.45x
Med: 1.77x
Q3: 5.3x
Excellent +50 pts over 3 years

In 2025, the interest coverage of COMPAGNIE MARSIENNE DE GE... (16.4x) 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: 144 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 65 days. The gap of 79 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 111 days of revenue, i.e. 221 k€ to permanently finance.

Operating WCR (2025) ?
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

220 939 €

Customer credit (2025) ?
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

144 j

Supplier credit (2025) ?
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

65 j

Inventory turnover (2025) ?
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 (2025) ?
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

111 j

WCR and payment terms evolution
COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE)

Positioning of COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) in its sector

Comparison with sector Collecte et traitement des eaux usées

Valuation estimate

Based on 84 transactions of similar company sales (all years), the value of COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) is estimated at 77 790 € (range 30 480€ - 239 746€). With an EBITDA of 27 644€, the sector multiple of 2.9x is applied. The price/revenue ratio is 0.11x (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 2025
84 tx
30k€ 77k€ 239k€
77 790 € Range: 30 480€ - 239 746€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
27 644 € × 2.9x
Estimation 78 803 €
16 228€ - 247 051€
Revenue Multiple 30%
716 103 € × 0.11x
Estimation 76 103 €
54 234€ - 227 572€
How is this estimate calculated?

This estimate is based on the analysis of 84 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 (Collecte et traitement des eaux usées)

Compare COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) with other companies in the same sector:

Voir toutes les statistiques du secteur Collecte et traitement des eaux usées

Frequently asked questions about COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE)

What is the revenue of COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) ?

The revenue of COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) in 2025 is 716 k€.

Is COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) profitable?

COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) recorded a net loss in 2025.

Where is the headquarters of COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) ?

The headquarters of COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) is located in VALLONS-DE-L'ERDRE (44540), in the department Loire-Atlantique.

Where to find the tax return of COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) ?

The tax return of COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) 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 COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) operate?

COMPAGNIE MARSIENNE DE GESTION DES EFFLUENTS (CMGE) operates in the sector Collecte et traitement des eaux usées (NAF code 37.00Z). See the 'Sector positioning' section above to compare the company with its competitors.