FREJUS COURSES SERVICES : revenue, balance sheet and financial ratios

FREJUS COURSES SERVICES is a French company founded 25 years ago, specialized in the sector Transports routiers de fret de proximité. Based in PUGET-SUR-ARGENS (83480), this company of category ETI shows in 2024 a revenue of 5.2 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 - FREJUS COURSES SERVICES (SIREN 437560824)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 5 169 195 € 5 516 360 € 4 472 742 € 4 905 643 € N/C N/C 3 623 267 € 3 603 249 € 3 510 254 €
Net income -1 419 021 € -546 311 € -419 266 € -411 773 € 141 € -34 986 € 53 879 € 51 050 € 48 719 €
EBITDA -1 240 110 € -481 647 € -321 463 € -377 016 € N/C N/C 41 887 € 109 603 € 102 246 €
Net margin -27.5% -9.9% -9.4% -8.4% N/C N/C 1.5% 1.4% 1.4%

Revenue and income statement

In 2024, FREJUS COURSES SERVICES achieves revenue of 5.2 M€. Revenue is growing positively over 9 years (CAGR: +5.0%). Slight decline of -6% vs 2023. After deducting consumption (40 k€), gross margin stands at 5.1 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -1.2 M€, representing -24.0% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -157%, reducing margin by 15.3 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -1.4 M€ (-27.5% of revenue), which will impact equity.

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

5 169 195 €

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

5 129 409 €

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

-1 240 110 €

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

-1 303 645 €

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

-1 419 021 €

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

-24.0%

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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 -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 -28%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

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

-0.115%

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

-28.075%

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

-26.348%

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

-0.001

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

20.5%

Solvency indicators evolution
FREJUS COURSES SERVICES

Sector positioning

Debt ratio
-0.12 2024
2022
2023
2024
Q1: 1.8
Med: 27.54
Q3: 87.06
Excellent

In 2024, the debt ratio of FREJUS COURSES SERVICES (-0.12) 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
-28.07% 2024
2022
2023
2024
Q1: 13.27%
Med: 31.55%
Q3: 51.53%
Watch

In 2024, the financial autonomy of FREJUS COURSES SERVICES (-28.1%) 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
-0.0 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 1.46 years
Excellent

In 2024, the repayment capacity of FREJUS COURSES SERVICES (-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 75.31. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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

75.308

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

-8.954

Liquidity indicators evolution
FREJUS COURSES SERVICES

Sector positioning

Liquidity ratio
75.31 2024
2022
2023
2024
Q1: 117.28
Med: 164.75
Q3: 253.6
Watch

In 2024, the liquidity ratio of FREJUS COURSES SERVICES (75.31) 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
-8.95x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 3.91x
Average

In 2024, the interest coverage of FREJUS COURSES SERVICES (-8.9x) 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: 189 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 125 days. The gap of 64 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 7 days of revenue, i.e. 103 k€ to permanently finance. Notable WCR improvement over the period (-79%), freeing up 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

103 125 €

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

189 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

125 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

7 j

WCR and payment terms evolution
FREJUS COURSES SERVICES

Positioning of FREJUS COURSES SERVICES in its sector

Comparison with sector Transports routiers de fret de proximité

Valuation estimate

Based on 71 transactions of similar company sales in 2024, the value of FREJUS COURSES SERVICES is estimated at 1 171 774 € (range 547 364€ - 1 910 825€). The price/revenue ratio is 0.23x (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 2024
71 tx
547k€ 1171k€ 1910k€
1 171 774 € Range: 547 364€ - 1 910 825€
NAF 5 année 2024

Valuation method used

Revenue Multiple
5 169 195 € × 0.23x = 1 171 774 €
Range: 547 364€ - 1 910 826€

Only this financial indicator is available for this company.

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 71 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 (Transports routiers de fret de proximité)

Compare FREJUS COURSES SERVICES with other companies in the same sector:

Voir toutes les statistiques du secteur Transports routiers de fret de proximité

Frequently asked questions about FREJUS COURSES SERVICES

What is the revenue of FREJUS COURSES SERVICES ?

The revenue of FREJUS COURSES SERVICES in 2024 is 5.2 M€.

Is FREJUS COURSES SERVICES profitable?

FREJUS COURSES SERVICES recorded a net loss in 2024.

Where is the headquarters of FREJUS COURSES SERVICES ?

The headquarters of FREJUS COURSES SERVICES is located in PUGET-SUR-ARGENS (83480), in the department Var.

Where to find the tax return of FREJUS COURSES SERVICES ?

The tax return of FREJUS COURSES 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 FREJUS COURSES SERVICES operate?

FREJUS COURSES SERVICES operates in the sector Transports routiers de fret de proximité (NAF code 49.41B). See the 'Sector positioning' section above to compare the company with its competitors.