LA BOITE NOIRE : revenue, balance sheet and financial ratios

LA BOITE NOIRE is a French company founded 12 years ago, specialized in the sector Location de terrains et d'autres biens immobiliers. Based in THOUARE-SUR-LOIRE (44470), this company of category PME shows in 2024 a revenue of 1.1 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-18

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - LA BOITE NOIRE (SIREN 793467283)
Indicator 2024 2023 2022
Revenue 1 062 868 € 989 616 € 916 628 €
Net income 358 744 € 285 900 € 222 681 €
EBITDA 970 891 € 895 018 € 828 665 €
Net margin 33.8% 28.9% 24.3%

Revenue and income statement

In 2024, LA BOITE NOIRE achieves revenue of 1.1 M€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.7%. Vs 2023: +7%. After deducting consumption (0 €), gross margin stands at 1.1 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 971 k€, representing 91.3% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 359 k€, i.e. 33.8% 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

1 062 868 €

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

1 062 868 €

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

970 891 €

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

496 530 €

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

358 744 €

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

91.3%

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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 240%. 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 27%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 78.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

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

239.623%

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

26.523%

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

78.383%

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

5.614

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

58.8%

Solvency indicators evolution
LA BOITE NOIRE

Sector positioning

Debt ratio
239.62 2024
2022
2023
2024
Q1: -21.14
Med: 5.94
Q3: 146.94
Average

In 2024, the debt ratio of LA BOITE NOIRE (239.62) 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
26.52% 2024
2022
2023
2024
Q1: 0.03%
Med: 27.48%
Q3: 73.8%
Average +13 pts over 3 years

In 2024, the financial autonomy of LA BOITE NOIRE (26.5%) 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
5.61 years 2024
2022
2023
2024
Q1: -0.02 years
Med: 0.66 years
Q3: 10.6 years
Average -8 pts over 3 years

In 2024, the repayment capacity of LA BOITE NOIRE (5.61) 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 67.49. 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 5.3x. 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

67.489

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

5.278

Liquidity indicators evolution
LA BOITE NOIRE

Sector positioning

Liquidity ratio
67.49 2024
2022
2023
2024
Q1: 83.3
Med: 307.78
Q3: 1321.87
Average

In 2024, the liquidity ratio of LA BOITE NOIRE (67.49) 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
5.28x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 20.03x
Good -7 pts over 3 years

In 2024, the interest coverage of LA BOITE NOIRE (5.3x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39633 days. Excellent situation: suppliers finance 39633 days of the operating cycle (retail model). Overall, WCR represents 158 days of revenue, i.e. 466 k€ to permanently finance. Over 2022-2024, WCR increased by +7997%, 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

466 121 €

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

0 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

39633 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

0 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

158 j

WCR and payment terms evolution
LA BOITE NOIRE

Positioning of LA BOITE NOIRE in its sector

Comparison with sector Location de terrains et d'autres biens immobiliers

Valuation estimate

Based on 169 transactions of similar company sales in 2024, the value of LA BOITE NOIRE is estimated at 3 464 532 € (range 964 868€ - 6 218 708€). With an EBITDA of 970 891€, 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.

Estimated enterprise value 2024
169 transactions
964k€ 3464k€ 6218k€
3 464 532 € Range: 964 868€ - 6 218 708€
NAF 5 année 2024

Valuation detail by method

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EBITDA Multiple 50%
970 891 € × 5.6x
Estimation 5 436 822 €
1 439 162€ - 9 704 058€
Revenue Multiple 30%
1 062 868 € × 0.81x
Estimation 857 339 €
327 616€ - 1 598 727€
Net Income Multiple 20%
358 744 € × 6.8x
Estimation 2 444 600 €
735 014€ - 4 435 306€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 169 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 (Location de terrains et d'autres biens immobiliers)

Compare LA BOITE NOIRE with other companies in the same sector:

Voir toutes les statistiques du secteur Location de terrains et d'autres biens immobiliers

Frequently asked questions about LA BOITE NOIRE

What is the revenue of LA BOITE NOIRE ?

The revenue of LA BOITE NOIRE in 2024 is 1.1 M€.

Is LA BOITE NOIRE profitable?

Yes, LA BOITE NOIRE generated a net profit of 359 k€ in 2024.

Where is the headquarters of LA BOITE NOIRE ?

The headquarters of LA BOITE NOIRE is located in THOUARE-SUR-LOIRE (44470), in the department Loire-Atlantique.

Where to find the tax return of LA BOITE NOIRE ?

The tax return of LA BOITE NOIRE 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 LA BOITE NOIRE operate?

LA BOITE NOIRE operates in the sector Location de terrains et d'autres biens immobiliers (NAF code 68.20B). See the 'Sector positioning' section above to compare the company with its competitors.