HAPPY ON : revenue, balance sheet and financial ratios

HAPPY ON is a French company founded 2 years ago, specialized in the sector Location de courte durée de voitures et de véhicules automobiles légers. Based in LE PALAIS (56360), this company of category PME shows in 2025 a revenue of 403 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-11

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

Financial history - HAPPY ON (SIREN 987668233)
Indicator 2025 2024
Revenue 403 461 € 130 402 €
Net income 3 912 € 4 939 €
EBITDA 44 365 € 8 094 €
Net margin 1.0% 3.8%

Revenue and income statement

In 2025, HAPPY ON achieves revenue of 403 k€. Vs 2024, growth of +209% (130 k€ -> 403 k€). After deducting consumption (0 €), gross margin stands at 403 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 44 k€, representing 11.0% of revenue. Positive scissor effect: EBITDA margin improves by +4.8 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4 k€, i.e. 1.0% of revenue. This profit can be retained or distributed to shareholders.

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

403 461 €

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

403 461 €

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

44 365 €

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

22 121 €

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

3 912 €

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

11.0%

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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 1796%. 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 62%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 12.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 6.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

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

1796.34%

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

61.777%

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

6.474%

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

12.887

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

88.8%

Solvency indicators evolution
HAPPY ON

Sector positioning

Debt ratio
1796.34 2025
2024
2025
Q1: 0.06
Med: 28.62
Q3: 201.23
Watch

In 2025, the debt ratio of HAPPY ON (1796.34) 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
61.78% 2025
2024
2025
Q1: 7.5%
Med: 36.46%
Q3: 67.58%
Good +20 pts over 2 years

In 2025, the financial autonomy of HAPPY ON (61.8%) 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
12.89 years 2025
2024
2025
Q1: 0.0 years
Med: 0.71 years
Q3: 3.45 years
Watch

In 2025, the repayment capacity of HAPPY ON (12.89) 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 152.70. 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 22.1x. 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

152.701

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

22.087

Liquidity indicators evolution
HAPPY ON

Sector positioning

Liquidity ratio
152.7 2025
2024
2025
Q1: 111.29
Med: 212.9
Q3: 508.91
Average -6 pts over 2 years

In 2025, the liquidity ratio of HAPPY ON (152.70) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
22.09x 2025
2024
2025
Q1: 0.0x
Med: 0.27x
Q3: 9.26x
Excellent +5 pts over 2 years

In 2025, the interest coverage of HAPPY ON (22.1x) 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 196 days. Excellent situation: suppliers finance 196 days of the operating cycle (retail model). WCR is negative (-145 days): operations structurally generate cash.

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

-162 385 €

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

0 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

196 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

-145 j

WCR and payment terms evolution
HAPPY ON

Positioning of HAPPY ON in its sector

Comparison with sector Location de courte durée de voitures et de véhicules automobiles légers

Valuation estimate

Based on 276 transactions of similar company sales (all years), the value of HAPPY ON is estimated at 557 109 € (range 120 083€ - 756 233€). With an EBITDA of 44 365€, the sector multiple of 11.9x is applied. The price/revenue ratio is 2.33x (premium 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 2025
276 transactions
120k€ 557k€ 756k€
557 109 € Range: 120 083€ - 756 233€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
44 365 € × 11.9x
Estimation 530 092 €
107 796€ - 721 273€
Revenue Multiple 30%
403 461 € × 2.33x
Estimation 941 529 €
219 822€ - 1 224 298€
Net Income Multiple 20%
3 912 € × 12.3x
Estimation 48 021 €
1 195€ - 141 540€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 276 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 de courte durée de voitures et de véhicules automobiles légers)

Compare HAPPY ON with other companies in the same sector:

Voir toutes les statistiques du secteur Location de courte durée de voitures et de véhicules automobiles légers

Frequently asked questions about HAPPY ON

What is the revenue of HAPPY ON ?

The revenue of HAPPY ON in 2025 is 403 k€.

Is HAPPY ON profitable?

Yes, HAPPY ON generated a net profit of 4 k€ in 2025.

Where is the headquarters of HAPPY ON ?

The headquarters of HAPPY ON is located in LE PALAIS (56360), in the department Morbihan.

Where to find the tax return of HAPPY ON ?

The tax return of HAPPY ON 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 HAPPY ON operate?

HAPPY ON operates in the sector Location de courte durée de voitures et de véhicules automobiles légers (NAF code 77.11A). See the 'Sector positioning' section above to compare the company with its competitors.