LES GARS DES EAUX - AFD GROUPE : revenue, balance sheet and financial ratios

LES GARS DES EAUX - AFD GROUPE is a French company founded 12 years ago, specialized in the sector Activités des sièges sociaux. Based in NIVILLAC (56130), this company of category ETI shows in 2023 a revenue of 14.6 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 - LES GARS DES EAUX - AFD GROUPE (SIREN 801072901)
Indicator 2023 2022 2021 2020 2019 2018 2017
Revenue 14 637 116 € 7 769 893 € 6 819 481 € 4 076 223 € 2 198 187 € 945 261 € 304 720 €
Net income -2 152 233 € 1 334 849 € 951 309 € 840 430 € 360 476 € 166 149 € 70 106 €
EBITDA 722 583 € 5 818 € 541 597 € 348 164 € 109 145 € 102 101 € 46 311 €
Net margin -14.7% 17.2% 13.9% 20.6% 16.4% 17.6% 23.0%

Revenue and income statement

In 2023, LES GARS DES EAUX - AFD GROUPE achieves revenue of 14.6 M€. Over the period 2017-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +90.7%. Vs 2022, growth of +88% (7.8 M€ -> 14.6 M€). After deducting consumption (176 k€), gross margin stands at 14.5 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 723 k€, representing 4.9% of revenue. Positive scissor effect: EBITDA margin improves by +4.9 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -2.2 M€ (-14.7% of revenue), which will impact equity.

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

14 637 116 €

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

14 461 235 €

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

722 583 €

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

531 729 €

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

-2 152 233 €

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

4.9%

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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 1246%. 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 6%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 18.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 4.0% 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

1245.621%

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

6.457%

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

3.991%

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

18.719

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

41.2%

Solvency indicators evolution
LES GARS DES EAUX - AFD GROUPE

Sector positioning

Debt ratio
1245.62 2023
2021
2022
2023
Q1: 0.15
Med: 18.74
Q3: 101.68
Average

In 2023, the debt ratio of LES GARS DES EAUX - AFD G... (1245.62) 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
6.46% 2023
2021
2022
2023
Q1: 13.72%
Med: 51.33%
Q3: 84.16%
Average -8 pts over 3 years

In 2023, the financial autonomy of LES GARS DES EAUX - AFD G... (6.5%) 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
18.72 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.21 years
Q3: 3.84 years
Average

In 2023, the repayment capacity of LES GARS DES EAUX - AFD G... (18.72) 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 316.28. 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 56.5x. Operating income very largely covers interest expenses: high safety margin.

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

316.278

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

56.493

Liquidity indicators evolution
LES GARS DES EAUX - AFD GROUPE

Sector positioning

Liquidity ratio
316.28 2023
2021
2022
2023
Q1: 110.36
Med: 414.42
Q3: 1923.42
Average -7 pts over 3 years

In 2023, the liquidity ratio of LES GARS DES EAUX - AFD G... (316.28) 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
56.49x 2023
2021
2022
2023
Q1: -38.43x
Med: 0.0x
Q3: 2.72x
Excellent

In 2023, the interest coverage of LES GARS DES EAUX - AFD G... (56.5x) 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: 96 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 14 days. The gap of 82 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 249 days of revenue, i.e. 10.1 M€ to permanently finance. Over 2017-2023, WCR increased by +13456%, 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

10 104 440 €

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

96 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

14 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

0 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

249 j

WCR and payment terms evolution
LES GARS DES EAUX - AFD GROUPE

Positioning of LES GARS DES EAUX - AFD GROUPE in its sector

Comparison with sector Activités des sièges sociaux

Valuation estimate

Based on 89 transactions of similar company sales in 2023, the value of LES GARS DES EAUX - AFD GROUPE is estimated at 4 689 940 € (range 2 107 206€ - 8 042 278€). With an EBITDA of 722 583€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.52x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.

Estimated enterprise value 2023
89 tx
2107k€ 4689k€ 8042k€
4 689 940 € Range: 2 107 206€ - 8 042 278€
NAF 5 année 2023

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
722 583 € × 4.0x
Estimation 2 905 701 €
1 490 541€ - 4 718 519€
Revenue Multiple 30%
14 637 116 € × 0.52x
Estimation 7 663 672 €
3 134 984€ - 13 581 877€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 89 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 (Activités des sièges sociaux)

Compare LES GARS DES EAUX - AFD GROUPE with other companies in the same sector:

Voir toutes les statistiques du secteur Activités des sièges sociaux

Frequently asked questions about LES GARS DES EAUX - AFD GROUPE

What is the revenue of LES GARS DES EAUX - AFD GROUPE ?

The revenue of LES GARS DES EAUX - AFD GROUPE in 2023 is 14.6 M€.

Is LES GARS DES EAUX - AFD GROUPE profitable?

LES GARS DES EAUX - AFD GROUPE recorded a net loss in 2023.

Where is the headquarters of LES GARS DES EAUX - AFD GROUPE ?

The headquarters of LES GARS DES EAUX - AFD GROUPE is located in NIVILLAC (56130), in the department Morbihan.

Where to find the tax return of LES GARS DES EAUX - AFD GROUPE ?

The tax return of LES GARS DES EAUX - AFD GROUPE 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 LES GARS DES EAUX - AFD GROUPE operate?

LES GARS DES EAUX - AFD GROUPE operates in the sector Activités des sièges sociaux (NAF code 70.10Z). See the 'Sector positioning' section above to compare the company with its competitors.