INOV'CREATION : revenue, balance sheet and financial ratios

In 2025, INOV'CREATION achieves revenue of 702 k€. Revenue is declining over the period 2017-2025 (CAGR: -6.6%). Vs 2024, growth of +42% (495 k€ -> 702 k€). After deducting consumption (283 k€), gross margin stands at 419 k€, i.e. a rate of 60%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5 k€, representing 0.8% of revenue. Positive scissor effect: EBITDA margin improves by +12.8 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 10 k€, i.e. 1.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 78%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 0.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 444.99. 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 11.6x. 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: 78 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. The gap of 35 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 34 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 130 days of revenue, i.e. 254 k€ to permanently finance. Over 2017-2025, WCR increased by +38%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (22 transactions). This range of 37 649€ to 116 271€ is provided for information purposes only and requires in-depth analysis to be confirmed.