SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN : revenue, balance sheet and financial ratios

SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN is a French company founded 45 years ago, specialized in the sector Travaux d'isolation. Based in CARRIERES-SUR-SEINE (78420), this company of category PME shows in 2025 a revenue of 36.0 M€. 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 - SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN (SIREN 321920563)
Indicator 2025 2024 2022 2021 2020 2019 2018
Revenue 35 993 505 € 43 683 767 € 36 745 001 € 39 016 917 € 37 713 213 € 28 469 931 € 35 464 949 €
Net income 1 276 021 € 1 482 299 € 1 106 385 € 1 072 075 € 1 399 217 € 2 011 012 € 2 023 347 €
EBITDA 1 652 637 € 1 964 915 € 1 465 862 € 1 368 621 € 1 889 118 € 2 905 031 € 3 000 810 €
Net margin 3.5% 3.4% 3.0% 2.7% 3.7% 7.1% 5.7%

Revenue and income statement

In 2025, SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN achieves revenue of 36.0 M€. Revenue is growing positively over 7 years (CAGR: +0.2%). Significant drop of -18% vs 2024. After deducting consumption (6.6 M€), gross margin stands at 29.4 M€, i.e. a rate of 82%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.7 M€, representing 4.6% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.3 M€, i.e. 3.5% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2025) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

35 993 505 €

Gross margin (2025) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

29 359 058 €

EBITDA (2025) ?
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

1 652 637 €

EBIT (2025) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

1 463 236 €

Net income (2025) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

1 276 021 €

EBITDA margin (2025) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

4.6%

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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 15%. 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 5%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2025) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

14.686%

Financial autonomy (2025) ?
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

4.537%

Cash flow / Revenue (2025) ?
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

3.948%

Repayment capacity (2025) ?
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

0.3

Asset age ratio (2025) ?
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

17.9%

Solvency indicators evolution
SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN

Sector positioning

Debt ratio
14.69 2025
2022
2024
2025
Q1: 2.91
Med: 14.22
Q3: 41.09
Average -12 pts over 3 years

In 2025, the debt ratio of SOCIETE EUROPEENNE D'ETAN... (14.69) 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
4.54% 2025
2022
2024
2025
Q1: 21.74%
Med: 39.91%
Q3: 59.98%
Watch

In 2025, the financial autonomy of SOCIETE EUROPEENNE D'ETAN... (4.5%) 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
0.3 years 2025
2022
2024
2025
Q1: 0.0 years
Med: 0.39 years
Q3: 1.22 years
Good -19 pts over 3 years

In 2025, the repayment capacity of SOCIETE EUROPEENNE D'ETAN... (0.30) 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 103.69. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2025) ?
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

103.694

Interest coverage (2025) ?
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

0.161

Liquidity indicators evolution
SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN

Sector positioning

Liquidity ratio
103.69 2025
2022
2024
2025
Q1: 142.88
Med: 202.08
Q3: 296.57
Watch

In 2025, the liquidity ratio of SOCIETE EUROPEENNE D'ETAN... (103.69) 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
0.16x 2025
2022
2024
2025
Q1: 0.02x
Med: 1.06x
Q3: 4.28x
Average -25 pts over 3 years

In 2025, the interest coverage of SOCIETE EUROPEENNE D'ETAN... (0.2x) 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: 104 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 92 days. The company must finance 12 days of gap between collections and payments. Inventory turnover is 352 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 16 days of revenue, i.e. 1.6 M€ to permanently finance. Over 2018-2025, WCR increased by +556%, requiring additional financing.

Operating WCR (2025) ?
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

1 597 752 €

Customer credit (2025) ?
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

104 j

Supplier credit (2025) ?
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

92 j

Inventory turnover (2025) ?
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

352 j

WCR in days of revenue (2025) ?
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

16 j

WCR and payment terms evolution
SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN

Positioning of SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN in its sector

Comparison with sector Travaux d'isolation

Valuation estimate

Based on 58 transactions of similar company sales (all years), the value of SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN is estimated at 4 155 395 € (range 2 712 805€ - 8 334 249€). With an EBITDA of 1 652 637€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.20x (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 2025
58 tx
2712k€ 4155k€ 8334k€
4 155 395 € Range: 2 712 805€ - 8 334 249€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
1 652 637 € × 1.2x
Estimation 2 039 081 €
1 651 275€ - 4 675 956€
Revenue Multiple 30%
35 993 505 € × 0.20x
Estimation 7 331 015 €
4 716 627€ - 10 888 266€
Net Income Multiple 20%
1 276 021 € × 3.7x
Estimation 4 682 753 €
2 360 898€ - 13 648 959€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 58 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 (Travaux d'isolation)

Compare SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux d'isolation

Frequently asked questions about SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN

What is the revenue of SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN ?

The revenue of SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN in 2025 is 36.0 M€.

Is SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN profitable?

Yes, SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN generated a net profit of 1.3 M€ in 2025.

Where is the headquarters of SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN ?

The headquarters of SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN is located in CARRIERES-SUR-SEINE (78420), in the department Yvelines.

Where to find the tax return of SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN ?

The tax return of SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN 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 SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN operate?

SOCIETE EUROPEENNE D'ETANCHEITE FLEISCHMAN operates in the sector Travaux d'isolation (NAF code 43.29A). See the 'Sector positioning' section above to compare the company with its competitors.