IMMERSION : revenue, balance sheet and financial ratios

IMMERSION is a French company founded 32 years ago, specialized in the sector Intermédiaires spécialisés dans le commerce d'autres produits spécifiques. Based in BORDEAUX (33100), this company of category PME shows in 2025 a revenue of 7.5 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 - IMMERSION (SIREN 394879308)
Indicator 2025 2024 2022 2021 2020 2019 2018 2017 2016
Revenue 7 470 605 € 7 041 550 € 5 454 676 € 5 797 571 € 5 256 596 € 7 035 919 € 8 060 727 € 8 023 084 € 5 788 108 €
Net income -119 979 € 80 178 € 62 807 € 603 475 € -326 054 € -309 963 € 325 914 € 242 451 € -2 303 023 €
EBITDA -175 845 € -28 010 € -389 332 € -60 992 € -483 644 € -227 965 € 202 752 € 113 147 € -1 659 877 €
Net margin -1.6% 1.1% 1.2% 10.4% -6.2% -4.4% 4.0% 3.0% -39.8%

Revenue and income statement

In 2025, IMMERSION achieves revenue of 7.5 M€. Revenue is growing positively over 9 years (CAGR: +2.9%). Vs 2024: +6%. After deducting consumption (4.0 M€), gross margin stands at 3.5 M€, i.e. a rate of 46%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -176 k€, representing -2.4% of revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -120 k€ (-1.6% of revenue), which will impact equity.

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

7 470 605 €

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

3 470 618 €

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

-175 845 €

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

-293 688 €

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

-119 979 €

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

-2.1%

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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 21%. 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 37%. The balance between equity and debt is satisfactory.

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

20.584%

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

36.951%

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

-1.583%

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

-3.414

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

17.3%

Solvency indicators evolution
IMMERSION

Sector positioning

Debt ratio
20.58 2025
2022
2024
2025
Q1: 0.03
Med: 6.12
Q3: 38.62
Average -14 pts over 3 years

In 2025, the debt ratio of IMMERSION (20.58) 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
36.95% 2025
2022
2024
2025
Q1: 21.35%
Med: 44.38%
Q3: 70.12%
Average

In 2025, the financial autonomy of IMMERSION (37.0%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-3.41 years 2025
2022
2024
2025
Q1: 0.0 years
Med: 0.0 years
Q3: 0.67 years
Excellent -58 pts over 3 years

In 2025, the repayment capacity of IMMERSION (-3.41) 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 190.70. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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

190.704

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

-2.942

Liquidity indicators evolution
IMMERSION

Sector positioning

Liquidity ratio
190.7 2025
2022
2024
2025
Q1: 144.58
Med: 224.91
Q3: 433.28
Average -20 pts over 3 years

In 2025, the liquidity ratio of IMMERSION (190.70) 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
-2.94x 2025
2022
2024
2025
Q1: 0.0x
Med: 0.0x
Q3: 0.66x
Watch

In 2025, the interest coverage of IMMERSION (-2.9x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 60 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 75 days. Favorable situation: supplier credit is longer than customer credit by 15 days. Inventory turnover is 41 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 64 days of revenue, i.e. 1.3 M€ to permanently finance. Notable WCR improvement over the period (-40%), freeing up 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

1 335 445 €

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

60 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

75 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

41 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

64 j

WCR and payment terms evolution
IMMERSION

Positioning of IMMERSION in its sector

Comparison with sector Intermédiaires spécialisés dans le commerce d'autres produits spécifiques

Valuation estimate

Based on 50 transactions of similar company sales (all years), the value of IMMERSION is estimated at 2 381 238 € (range 1 186 434€ - 4 540 499€). 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 2025
50 tx
1186k€ 2381k€ 4540k€
2 381 238 € Range: 1 186 434€ - 4 540 499€
NAF 5 all-time

Valuation method used

Revenue Multiple
7 470 605 € × 0.32x = 2 381 238 €
Range: 1 186 434€ - 4 540 500€

Only this financial indicator is available for this company.

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 50 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 (Intermédiaires spécialisés dans le commerce d'autres produits spécifiques)

Compare IMMERSION with other companies in the same sector:

Voir toutes les statistiques du secteur Intermédiaires spécialisés dans le commerce d'autres produits spécifiques

Frequently asked questions about IMMERSION

What is the revenue of IMMERSION ?

The revenue of IMMERSION in 2025 is 7.5 M€.

Is IMMERSION profitable?

IMMERSION recorded a net loss in 2025.

Where is the headquarters of IMMERSION ?

The headquarters of IMMERSION is located in BORDEAUX (33100), in the department Gironde.

Where to find the tax return of IMMERSION ?

The tax return of IMMERSION 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 IMMERSION operate?

IMMERSION operates in the sector Intermédiaires spécialisés dans le commerce d'autres produits spécifiques (NAF code 46.18Z). See the 'Sector positioning' section above to compare the company with its competitors.