IMAGE ON AIR SAS : revenue, balance sheet and financial ratios

IMAGE ON AIR SAS is a French company founded 31 years ago, specialized in the sector Production de films et de programmes pour la télévision . Based in PARIS (75008), this company of category ETI shows in 2023 a revenue of 16.5 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 - IMAGE ON AIR SAS (SIREN 398364596)
Indicator 2023 2022 2021 2020 2017 2016
Revenue 16 479 490 € 13 087 702 € 21 991 020 € 26 540 249 € 27 402 997 € 20 613 591 €
Net income 755 349 € 232 128 € 1 422 310 € 1 395 445 € 168 543 € 140 420 €
EBITDA 610 334 € -72 665 € 1 492 679 € 3 160 158 € 2 191 913 € 1 713 091 €
Net margin 4.6% 1.8% 6.5% 5.3% 0.6% 0.7%

Revenue and income statement

In 2023, IMAGE ON AIR SAS achieves revenue of 16.5 M€. Activity remains stable over the period (CAGR: -3.1%). Vs 2022, growth of +26% (13.1 M€ -> 16.5 M€). After deducting consumption (3 k€), gross margin stands at 16.5 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 610 k€, representing 3.7% of revenue. Positive scissor effect: EBITDA margin improves by +4.3 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 755 k€, i.e. 4.6% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

16 479 490 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

16 476 853 €

EBITDA (2023) ?
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

610 334 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

959 315 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

755 349 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

3.7%

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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 67%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 24%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

66.825%

Financial autonomy (2023) ?
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

23.814%

Cash flow / Revenue (2023) ?
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

4.606%

Repayment capacity (2023) ?
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

2.439

Asset age ratio (2023) ?
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

12.6%

Solvency indicators evolution
IMAGE ON AIR SAS

Sector positioning

Debt ratio
66.83 2023
2021
2022
2023
Q1: 0.0
Med: 3.11
Q3: 46.27
Average +46 pts over 3 years

In 2023, the debt ratio of IMAGE ON AIR SAS (66.83) 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
23.81% 2023
2021
2022
2023
Q1: 1.29%
Med: 23.77%
Q3: 58.39%
Good +11 pts over 3 years

In 2023, the financial autonomy of IMAGE ON AIR SAS (23.8%) 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
2.44 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.0 years
Q3: 0.42 years
Watch +25 pts over 3 years

In 2023, the repayment capacity of IMAGE ON AIR SAS (2.44) 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 164.81. 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 2.7x. Financial charges are adequately covered by operations.

Liquidity ratio (2023) ?
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

164.814

Interest coverage (2023) ?
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

2.724

Liquidity indicators evolution
IMAGE ON AIR SAS

Sector positioning

Liquidity ratio
164.81 2023
2021
2022
2023
Q1: 108.09
Med: 206.51
Q3: 430.21
Average +14 pts over 3 years

In 2023, the liquidity ratio of IMAGE ON AIR SAS (164.81) 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
2.72x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.0x
Q3: 0.44x
Excellent

In 2023, the interest coverage of IMAGE ON AIR SAS (2.7x) 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: 138 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 129 days. The company must finance 9 days of gap between collections and payments. Inventory turnover is 58 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 216 days of revenue, i.e. 9.9 M€ to permanently finance. Over 2016-2023, WCR increased by +50%, requiring additional financing.

Operating WCR (2023) ?
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

9 879 949 €

Customer credit (2023) ?
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

138 j

Supplier credit (2023) ?
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

129 j

Inventory turnover (2023) ?
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

58 j

WCR in days of revenue (2023) ?
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

216 j

WCR and payment terms evolution
IMAGE ON AIR SAS

Positioning of IMAGE ON AIR SAS in its sector

Comparison with sector Production de films et de programmes pour la télévision

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (28 transactions). This range of 815 133€ to 6 561 257€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2023
Indicative
815k€ 2559k€ 6561k€
2 559 283 € Range: 815 133€ - 6 561 257€
NAF 5 all-time
How is this estimate calculated?

This estimate is based on the analysis of 28 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 (Production de films et de programmes pour la télévision )

Compare IMAGE ON AIR SAS with other companies in the same sector:

Voir toutes les statistiques du secteur Production de films et de programmes pour la télévision

Frequently asked questions about IMAGE ON AIR SAS

What is the revenue of IMAGE ON AIR SAS ?

The revenue of IMAGE ON AIR SAS in 2023 is 16.5 M€.

Is IMAGE ON AIR SAS profitable?

Yes, IMAGE ON AIR SAS generated a net profit of 755 k€ in 2023.

Where is the headquarters of IMAGE ON AIR SAS ?

The headquarters of IMAGE ON AIR SAS is located in PARIS (75008), in the department Paris.

Where to find the tax return of IMAGE ON AIR SAS ?

The tax return of IMAGE ON AIR SAS 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 IMAGE ON AIR SAS operate?

IMAGE ON AIR SAS operates in the sector Production de films et de programmes pour la télévision (NAF code 59.11A). See the 'Sector positioning' section above to compare the company with its competitors.