HORIZON ESPACES VERTS : revenue, balance sheet and financial ratios

In 2025, HORIZON ESPACES VERTS achieves revenue of 5.2 M€. Over the period 2017-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +14.9%. Vs 2024: +6%. After deducting consumption (1.5 M€), gross margin stands at 3.7 M€, i.e. a rate of 72%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 288 k€, representing 5.6% of revenue. Positive scissor effect: EBITDA margin improves by +4.4 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 171 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 49%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 34%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 169.39. 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 3.3x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 72 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. The gap of 33 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 46 days of revenue, i.e. 658 k€ to permanently finance. Over 2017-2025, WCR increased by +231%, requiring additional financing.

Based on 125 transactions of similar company sales (all years), the value of HORIZON ESPACES VERTS is estimated at 1 056 689 € (range 443 201€ - 1 753 653€). With an EBITDA of 287 984€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.35x (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.