IMMOBILIERE BAULOISE : revenue, balance sheet and financial ratios

In 2024, IMMOBILIERE BAULOISE achieves revenue of 1.1 M€. Slight decline of -6% vs 2020. After deducting consumption (1.0 M€), gross margin stands at 102 k€, i.e. a rate of 9%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 65 k€, representing 5.7% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -43%, reducing margin by 3.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 62 k€, i.e. 5.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 567%. 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 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 5.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 151.62. 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 18.2x. Operating income very largely covers interest expenses: high safety margin.

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: 7 days. Favorable situation: supplier credit is longer than customer credit by 7 days. Inventory turnover is 296 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 289 days of revenue, i.e. 912 k€ to permanently finance.

Based on 169 transactions of similar company sales in 2024, the value of IMMOBILIERE BAULOISE is estimated at 540 022 € (range 178 225€ - 988 290€). With an EBITDA of 64 728€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.