HORIZON VERTICAL : revenue, balance sheet and financial ratios

HORIZON VERTICAL is a French company founded 49 years ago, specialized in the sector Autres intermédiaires du commerce en produits divers. Based in HEILIGENBERG (67190), this company of category PME shows in 2024 a revenue of 6.5 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 - HORIZON VERTICAL (SIREN 309244325)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 6 534 838 € 6 107 355 € 6 197 013 € 6 222 219 € 5 134 575 € 5 291 068 € 5 195 115 € 5 380 484 € 5 118 323 €
Net income 51 325 € 94 753 € 197 820 € 298 924 € 183 954 € 98 723 € -40 594 € 76 687 € 32 221 €
EBITDA 115 059 € 167 831 € 229 435 € 387 427 € 261 890 € 156 571 € -24 011 € 104 415 € 74 241 €
Net margin 0.8% 1.6% 3.2% 4.8% 3.6% 1.9% -0.8% 1.4% 0.6%

Revenue and income statement

In 2024, HORIZON VERTICAL achieves revenue of 6.5 M€. Revenue is growing positively over 9 years (CAGR: +3.1%). Vs 2023: +7%. After deducting consumption (4.5 M€), gross margin stands at 2.0 M€, i.e. a rate of 31%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 115 k€, representing 1.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 51 k€, i.e. 0.8% of revenue. This profit can be retained or distributed to shareholders.

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

6 534 838 €

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

1 997 323 €

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

115 059 €

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

94 218 €

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

51 325 €

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

1.8%

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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 8%. 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 40%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

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

8.206%

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

39.988%

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

1.658%

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

0.875

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

33.4%

Solvency indicators evolution
HORIZON VERTICAL

Sector positioning

Debt ratio
8.21 2024
2022
2023
2024
Q1: 0.0
Med: 6.15
Q3: 45.95
Average -7 pts over 3 years

In 2024, the debt ratio of HORIZON VERTICAL (8.21) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
39.99% 2024
2022
2023
2024
Q1: 3.97%
Med: 34.0%
Q3: 67.32%
Good

In 2024, the financial autonomy of HORIZON VERTICAL (40.0%) 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
0.88 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 0.8 years
Average

In 2024, the repayment capacity of HORIZON VERTICAL (0.88) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 158.12. 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 26.1x. Operating income very largely covers interest expenses: high safety margin.

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

158.121

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

26.127

Liquidity indicators evolution
HORIZON VERTICAL

Sector positioning

Liquidity ratio
158.12 2024
2022
2023
2024
Q1: 139.4
Med: 252.5
Q3: 584.37
Average

In 2024, the liquidity ratio of HORIZON VERTICAL (158.12) 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
26.13x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 0.95x
Excellent

In 2024, the interest coverage of HORIZON VERTICAL (26.1x) 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: 48 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 81 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Inventory turnover is 70 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 103 days of revenue, i.e. 1.9 M€ to permanently finance. Over 2016-2024, WCR increased by +25%, requiring additional financing.

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

1 867 134 €

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

48 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

81 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

70 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

103 j

WCR and payment terms evolution
HORIZON VERTICAL

Positioning of HORIZON VERTICAL in its sector

Comparison with sector Autres intermédiaires du commerce en produits divers

Valuation estimate

Based on 85 transactions of similar company sales (all years), the value of HORIZON VERTICAL is estimated at 704 067 € (range 390 560€ - 1 828 227€). With an EBITDA of 115 059€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.32x (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
85 tx
390k€ 704k€ 1828k€
704 067 € Range: 390 560€ - 1 828 227€
NAF 5 all-time

Valuation detail by method

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EBITDA Multiple 50%
115 059 € × 1.0x
Estimation 113 247 €
62 169€ - 501 911€
Revenue Multiple 30%
6 534 838 € × 0.32x
Estimation 2 111 166 €
1 175 851€ - 5 016 692€
Net Income Multiple 20%
51 325 € × 1.4x
Estimation 70 472 €
33 603€ - 361 324€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 85 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 (Autres intermédiaires du commerce en produits divers)

Compare HORIZON VERTICAL with other companies in the same sector:

Voir toutes les statistiques du secteur Autres intermédiaires du commerce en produits divers

Frequently asked questions about HORIZON VERTICAL

What is the revenue of HORIZON VERTICAL ?

The revenue of HORIZON VERTICAL in 2024 is 6.5 M€.

Is HORIZON VERTICAL profitable?

Yes, HORIZON VERTICAL generated a net profit of 51 k€ in 2024.

Where is the headquarters of HORIZON VERTICAL ?

The headquarters of HORIZON VERTICAL is located in HEILIGENBERG (67190), in the department Bas-Rhin.

Where to find the tax return of HORIZON VERTICAL ?

The tax return of HORIZON VERTICAL 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 HORIZON VERTICAL operate?

HORIZON VERTICAL operates in the sector Autres intermédiaires du commerce en produits divers (NAF code 46.19B). See the 'Sector positioning' section above to compare the company with its competitors.