SIREN : 898270954
MUST EXPANSION is a French company founded 5 years ago, specialized in the sector Gestion de fonds. Based in COUZEIX (87270), this company of category PME shows in 2024 a revenue of 271 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.
Data updated on 2026-04-25
Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy
| Indicator | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Revenue | 271 293 € | 306 916 € | N/C | 96 645 € |
| Net income | -41 264 € | 47 336 € | 47 142 € | 227 022 € |
| EBITDA | 9 082 € | 10 747 € | N/C | 1 248 € |
| Net margin | -15.2% | 15.4% | N/C | 234.9% |
In 2024, MUST EXPANSION achieves revenue of 271 k€. Over the period 2021-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +41.1%. Significant drop of -12% vs 2023. After deducting consumption (0 €), gross margin stands at 271 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 9 k€, representing 3.3% of revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -41 k€ (-15.2% of revenue), which will impact equity.
271 293 €
271 293 €
9 082 €
6 081 €
-41 264 €
3.3%
The debt ratio (= Financial debt / Equity x 100) stands at 140%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 41%. This high autonomy means the company finances most of its assets through equity, a sign of strength.
140.371%
41.372%
-181.65%
-13.037
In 2024, the debt ratio of MUST EXPANSION (140.37) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.
In 2024, the financial autonomy of MUST EXPANSION (41.4%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.
In 2024, the repayment capacity of MUST EXPANSION (-13.04) 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.
The liquidity ratio (= Current assets / Current liabilities) stands at 1039.09. 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 13006.6x. Operating income very largely covers interest expenses: high safety margin.
1039.093
13006.606
In 2024, the liquidity ratio of MUST EXPANSION (1039.09) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.
In 2024, the interest coverage of MUST EXPANSION (13006.6x) 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) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 360 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 11 days. The gap of 349 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 655 days of revenue, i.e. 493 k€ to permanently finance. Over 2021-2024, WCR increased by +62%, requiring additional financing.
493 436 €
360 j
11 j
0 j
655 j
Based on 62 transactions of similar company sales
in 2024,
the value of MUST EXPANSION is estimated at
58 202 €
(range 24 494€ - 147 537€).
With an EBITDA of 9 082€, the sector multiple of 4.8x is applied.
The price/revenue ratio is 0.30x
(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.
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This estimate is based on the analysis of 62 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.
This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).
Compare MUST EXPANSION with other companies in the same sector:
The revenue of MUST EXPANSION in 2024 is 271 k€.
MUST EXPANSION recorded a net loss in 2024.
The headquarters of MUST EXPANSION is located in COUZEIX (87270), in the department Haute-Vienne.
The tax return of MUST EXPANSION 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).
MUST EXPANSION operates in the sector Gestion de fonds (NAF code 66.30Z). See the 'Sector positioning' section above to compare the company with its competitors.