SARL VAP SERVICES : revenue, balance sheet and financial ratios

SARL VAP SERVICES is a French company founded 22 years ago, specialized in the sector Installation de structures métalliques, chaudronnées et de tuyauterie. Based in JOINVILLE-LE-PONT (94340), this company of category PME shows in 2023 a revenue of 433 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - SARL VAP SERVICES (SIREN 452644735)
Indicator 2023 2020 2019 2017
Revenue 432 558 € 643 404 € 394 091 € 323 600 €
Net income 65 706 € 47 476 € 69 781 € 31 862 €
EBITDA 97 337 € 376 355 € 91 992 € 50 616 €
Net margin 15.2% 7.4% 17.7% 9.8%

Revenue and income statement

In 2023, SARL VAP SERVICES achieves revenue of 433 k€. Revenue is growing positively over 4 years (CAGR: +5.0%). Significant drop of -33% vs 2020. After deducting consumption (88 k€), gross margin stands at 345 k€, i.e. a rate of 80%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 97 k€, representing 22.5% of revenue. Warning negative scissor effect: despite revenue change (-33%), EBITDA varies by -74%, reducing margin by 36.0 pts. This reflects costs rising faster than 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 66 k€, i.e. 15.2% 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

432 558 €

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

344 533 €

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

97 337 €

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

82 446 €

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

65 706 €

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

22.5%

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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 0%. 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 0%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Cash flow represents 16.8% 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

0.0%

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

0.0%

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

16.813%

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

0.0

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

100.0%

Solvency indicators evolution
SARL VAP SERVICES

Sector positioning

Debt ratio
0.0 2023
2019
2020
2023
Q1: 2.01
Med: 20.27
Q3: 56.06
Excellent

In 2023, the debt ratio of SARL VAP SERVICES (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
0.0% 2023
2019
2020
2023
Q1: 17.58%
Med: 36.12%
Q3: 55.49%
Watch

In 2023, the financial autonomy of SARL VAP SERVICES (0.0%) ranks in the bottom 25% of the sector. This ratio represents the share of equity in total financing. Low autonomy may limit investment capacity and increase vulnerability.

Repayment capacity
0.0 years 2023
2019
2020
2023
Q1: 0.0 years
Med: 0.26 years
Q3: 1.33 years
Excellent

In 2023, the repayment capacity of SARL VAP SERVICES (0.00) 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.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 131.67. 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

131.673

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
SARL VAP SERVICES

Sector positioning

Liquidity ratio
131.67 2023
2019
2020
2023
Q1: 149.78
Med: 202.47
Q3: 295.42
Watch

In 2023, the liquidity ratio of SARL VAP SERVICES (131.67) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
0.0x 2023
2019
2020
2023
Q1: 0.0x
Med: 0.33x
Q3: 2.73x
Average -29 pts over 3 years

In 2023, the interest coverage of SARL VAP SERVICES (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: 81 days. Excellent situation: suppliers finance 57 days of the operating cycle (retail model). WCR is negative (-668 days): operations structurally generate cash. Notable WCR improvement over the period (-195%), freeing up cash.

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

-803 014 €

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

81 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

-668 j

WCR and payment terms evolution
SARL VAP SERVICES

Positioning of SARL VAP SERVICES in its sector

Comparison with sector Installation de structures métalliques, chaudronnées et de tuyauterie

Valuation estimate

Based on 98 transactions of similar company sales (all years), the value of SARL VAP SERVICES is estimated at 107 133 € (range 49 676€ - 255 054€). With an EBITDA of 97 337€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.18x (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
98 tx
49k€ 107k€ 255k€
107 133 € Range: 49 676€ - 255 054€
NAF 5 all-time

Valuation detail by method

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EBITDA Multiple 50%
97 337 € × 1.0x
Estimation 94 610 €
53 792€ - 298 596€
Revenue Multiple 30%
432 558 € × 0.18x
Estimation 78 048 €
33 915€ - 120 111€
Net Income Multiple 20%
65 706 € × 2.8x
Estimation 182 069 €
63 032€ - 348 615€
How is this estimate calculated?

This estimate is based on the analysis of 98 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 (Installation de structures métalliques, chaudronnées et de tuyauterie)

Compare SARL VAP SERVICES with other companies in the same sector:

Voir toutes les statistiques du secteur Installation de structures métalliques, chaudronnées et de tuyauterie

Frequently asked questions about SARL VAP SERVICES

What is the revenue of SARL VAP SERVICES ?

The revenue of SARL VAP SERVICES in 2023 is 433 k€.

Is SARL VAP SERVICES profitable?

Yes, SARL VAP SERVICES generated a net profit of 66 k€ in 2023.

Where is the headquarters of SARL VAP SERVICES ?

The headquarters of SARL VAP SERVICES is located in JOINVILLE-LE-PONT (94340), in the department Val-de-Marne.

Where to find the tax return of SARL VAP SERVICES ?

The tax return of SARL VAP SERVICES 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 SARL VAP SERVICES operate?

SARL VAP SERVICES operates in the sector Installation de structures métalliques, chaudronnées et de tuyauterie (NAF code 33.20A). See the 'Sector positioning' section above to compare the company with its competitors.