CONNECTING BAG SERVICES : revenue, balance sheet and financial ratios

CONNECTING BAG SERVICES is a French company founded 45 years ago, specialized in the sector Services auxiliaires des transports aériens. Based in TREMBLAY-EN-FRANCE (93290), this company of category PME shows in 2020 a revenue of 17.9 M€. 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 - CONNECTING BAG SERVICES (SIREN 321227506)
Indicator 2020 2019 2018 2017 2016
Revenue 17 948 119 € 35 273 165 € 19 308 553 € 12 217 583 € 34 788 890 €
Net income -2 878 921 € -17 206 652 € 1 685 602 € 4 032 127 € 4 000 349 €
EBITDA -3 879 583 € -2 323 376 € 128 537 € 2 162 583 € 3 427 421 €
Net margin -16.0% -48.8% 8.7% 33.0% 11.5%

Revenue and income statement

In 2020, CONNECTING BAG SERVICES achieves revenue of 17.9 M€. Revenue is declining over the period 2016-2020 (CAGR: -15.2%). Significant drop of -49% vs 2019. After deducting consumption (0 €), gross margin stands at 17.9 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -3.9 M€, representing -21.6% of revenue. Warning negative scissor effect: despite revenue change (-49%), EBITDA varies by -67%, reducing margin by 15.0 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -2.9 M€ (-16.0% of revenue), which will impact equity.

Revenue (2020) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

17 948 119 €

Gross margin (2020) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

17 948 119 €

EBITDA (2020) ?
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

-3 879 583 €

EBIT (2020) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-3 293 988 €

Net income (2020) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-2 878 921 €

EBITDA margin (2020) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-21.6%

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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 -54%. 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 -332%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2020) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-54.209%

Financial autonomy (2020) ?
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

-331.854%

Cash flow / Revenue (2020) ?
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

-17.147%

Repayment capacity (2020) ?
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

-3.139

Asset age ratio (2020) ?
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

29.3%

Solvency indicators evolution
CONNECTING BAG SERVICES

Sector positioning

Debt ratio
-54.21 2020
2018
2019
2020
Q1: 0.0
Med: 0.58
Q3: 72.0
Excellent -28 pts over 3 years

In 2020, the debt ratio of CONNECTING BAG SERVICES (-54.21) 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
-331.85% 2020
2018
2019
2020
Q1: 0.0%
Med: 20.75%
Q3: 44.56%
Watch -33 pts over 3 years

In 2020, the financial autonomy of CONNECTING BAG SERVICES (-331.9%) 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
-3.14 years 2020
2018
2019
2020
Q1: -0.27 years
Med: 0.0 years
Q3: 0.21 years
Excellent -30 pts over 3 years

In 2020, the repayment capacity of CONNECTING BAG SERVICES (-3.14) 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 37.81. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2020) ?
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

37.813

Interest coverage (2020) ?
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

-18.618

Liquidity indicators evolution
CONNECTING BAG SERVICES

Sector positioning

Liquidity ratio
37.81 2020
2018
2019
2020
Q1: 92.96
Med: 143.97
Q3: 228.39
Watch -37 pts over 3 years

In 2020, the liquidity ratio of CONNECTING BAG SERVICES (37.81) 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
-18.62x 2020
2018
2019
2020
Q1: -1.1x
Med: 0.0x
Q3: 0.33x
Watch -55 pts over 3 years

In 2020, the interest coverage of CONNECTING BAG SERVICES (-18.6x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 40 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 156 days. Excellent situation: suppliers finance 116 days of the operating cycle (retail model). WCR is negative (-101 days): operations structurally generate cash. Notable WCR improvement over the period (-155%), freeing up cash.

Operating WCR (2020) ?
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

-5 049 524 €

Customer credit (2020) ?
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

40 j

Supplier credit (2020) ?
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

156 j

Inventory turnover (2020) ?
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 (2020) ?
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

-101 j

WCR and payment terms evolution
CONNECTING BAG SERVICES

Positioning of CONNECTING BAG SERVICES in its sector

Comparison with sector Services auxiliaires des transports aériens

Valuation estimate

Based on 205 transactions of similar company sales (all years), the value of CONNECTING BAG SERVICES is estimated at 2 687 378 € (range 1 724 402€ - 8 375 874€). The price/revenue ratio is 0.15x (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.

Estimated enterprise value 2020
205 transactions
1724k€ 2687k€ 8375k€
2 687 378 € Range: 1 724 402€ - 8 375 874€
NAF 4 all-time Aggregated at NAF sub-class level

Valuation method used

Revenue Multiple
17 948 119 € × 0.15x = 2 687 378 €
Range: 1 724 403€ - 8 375 874€

Only this financial indicator is available for this company.

How is this estimate calculated?

This estimate is based on the analysis of 205 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 (Services auxiliaires des transports aériens)

Compare CONNECTING BAG SERVICES with other companies in the same sector:

Voir toutes les statistiques du secteur Services auxiliaires des transports aériens

Frequently asked questions about CONNECTING BAG SERVICES

What is the revenue of CONNECTING BAG SERVICES ?

The revenue of CONNECTING BAG SERVICES in 2020 is 17.9 M€.

Is CONNECTING BAG SERVICES profitable?

CONNECTING BAG SERVICES recorded a net loss in 2020.

Where is the headquarters of CONNECTING BAG SERVICES ?

The headquarters of CONNECTING BAG SERVICES is located in TREMBLAY-EN-FRANCE (93290), in the department Seine-Saint-Denis.

Where to find the tax return of CONNECTING BAG SERVICES ?

The tax return of CONNECTING BAG SERVICES 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 CONNECTING BAG SERVICES operate?

CONNECTING BAG SERVICES operates in the sector Services auxiliaires des transports aériens (NAF code 52.23Z). See the 'Sector positioning' section above to compare the company with its competitors.