REFLEX.SYS : revenue, balance sheet and financial ratios

REFLEX.SYS is a French company founded 27 years ago, specialized in the sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels. Based in BOULOGNE-BILLANCOURT (92100), this company of category PME shows in 2023 a revenue of 830 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - REFLEX.SYS (SIREN 420596371)
Indicator 2023 2017 2016
Revenue 829 730 € N/C 1 102 559 €
Net income 168 436 € 18 048 € 30 151 €
EBITDA 219 862 € N/C 31 101 €
Net margin 20.3% N/C 2.7%

Revenue and income statement

In 2023, REFLEX.SYS achieves revenue of 830 k€. Activity remains stable over the period (CAGR: -4.0%). After deducting consumption (363 k€), gross margin stands at 467 k€, i.e. a rate of 56%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 220 k€, representing 26.5% 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 168 k€, i.e. 20.3% of revenue. This profit can be retained or distributed to shareholders.

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

829 730 €

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

466 595 €

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

219 862 €

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

222 000 €

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

168 436 €

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

26.5%

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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 1%. 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 81%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 20.0% 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 (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

0.543%

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

80.694%

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

20.013%

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

0.007

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

24.9%

Solvency indicators evolution
REFLEX.SYS

Sector positioning

Debt ratio
0.54 2023
2016
2017
2023
Q1: 0.03
Med: 11.33
Q3: 52.83
Good

In 2023, the debt ratio of REFLEX.SYS (0.54) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
80.69% 2023
2016
2017
2023
Q1: 13.23%
Med: 35.49%
Q3: 56.03%
Excellent

In 2023, the financial autonomy of REFLEX.SYS (80.7%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
0.01 years 2023
2016
2023
Q1: 0.0 years
Med: 0.03 years
Q3: 1.66 years
Good -18 pts over 2 years

In 2023, the repayment capacity of REFLEX.SYS (0.01) ranks below the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. This controlled position reflects prudent management.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 569.77. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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

569.774

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

0.0

Liquidity indicators evolution
REFLEX.SYS

Sector positioning

Liquidity ratio
569.77 2023
2016
2017
2023
Q1: 146.39
Med: 218.61
Q3: 366.27
Excellent

In 2023, the liquidity ratio of REFLEX.SYS (569.77) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
0.0x 2023
2016
2023
Q1: 0.0x
Med: 0.08x
Q3: 4.0x
Average -50 pts over 2 years

In 2023, the interest coverage of REFLEX.SYS (0.0x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

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: 24 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 16 days. The company must finance 8 days of gap between collections and payments. Inventory turnover is 12 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 49 days of revenue, i.e. 112 k€ to permanently finance.

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

112 246 €

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

24 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

16 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

12 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

49 j

WCR and payment terms evolution
REFLEX.SYS

Positioning of REFLEX.SYS in its sector

Comparison with sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels

Valuation estimate

Based on 61 transactions of similar company sales (all years), the value of REFLEX.SYS is estimated at 474 953 € (range 112 681€ - 935 715€). With an EBITDA of 219 862€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.33x (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.

Estimated enterprise value 2023
61 tx
112k€ 474k€ 935k€
474 953 € Range: 112 681€ - 935 715€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
219 862 € × 2.5x
Estimation 549 551 €
120 243€ - 1 116 190€
Revenue Multiple 30%
829 730 € × 0.33x
Estimation 272 563 €
79 496€ - 361 586€
Net Income Multiple 20%
168 436 € × 3.5x
Estimation 592 046 €
143 553€ - 1 345 722€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 61 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 (Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels)

Compare REFLEX.SYS with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels

Frequently asked questions about REFLEX.SYS

What is the revenue of REFLEX.SYS ?

The revenue of REFLEX.SYS in 2023 is 830 k€.

Is REFLEX.SYS profitable?

Yes, REFLEX.SYS generated a net profit of 168 k€ in 2023.

Where is the headquarters of REFLEX.SYS ?

The headquarters of REFLEX.SYS is located in BOULOGNE-BILLANCOURT (92100), in the department Hauts-de-Seine.

Where to find the tax return of REFLEX.SYS ?

The tax return of REFLEX.SYS 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 REFLEX.SYS operate?

REFLEX.SYS operates in the sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels (NAF code 46.51Z). See the 'Sector positioning' section above to compare the company with its competitors.