THERMIQUE SUD EST VENDEE : revenue, balance sheet and financial ratios

THERMIQUE SUD EST VENDEE is a French company founded 21 years ago, specialized in the sector Travaux d'installation d'eau et de gaz en tous locaux. Based in LUCON (85400), this company of category PME shows in 2018 a revenue of 1.1 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 - THERMIQUE SUD EST VENDEE (SIREN 479833048)
Indicator 2018 2017
Revenue 1 078 328 € 1 575 435 €
Net income -106 250 € -207 020 €
EBITDA -8 304 € -442 040 €
Net margin -9.9% -13.1%

Revenue and income statement

In 2018, THERMIQUE SUD EST VENDEE achieves revenue of 1.1 M€. Significant drop of -32% vs 2017. After deducting consumption (437 k€), gross margin stands at 641 k€, i.e. a rate of 59%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -8 k€, representing -0.8% of revenue. Positive scissor effect: EBITDA margin improves by +27.3 pts, sign of improved operational efficiency. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -106 k€ (-9.9% of revenue), which will impact equity.

Revenue (2018) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

1 078 328 €

Gross margin (2018) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

641 483 €

EBITDA (2018) ?
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

-8 304 €

EBIT (2018) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-104 717 €

Net income (2018) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-106 250 €

EBITDA margin (2018) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-0.8%

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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 200%. 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 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2018) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

199.764%

Financial autonomy (2018) ?
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

9.285%

Cash flow / Revenue (2018) ?
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

-0.657%

Repayment capacity (2018) ?
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

-13.166

Asset age ratio (2018) ?
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

6.3%

Solvency indicators evolution
THERMIQUE SUD EST VENDEE

Sector positioning

Debt ratio
199.76 2018
2017
2018
Q1: 1.23
Med: 14.02
Q3: 48.82
Watch +19 pts over 2 years

In 2018, the debt ratio of THERMIQUE SUD EST VENDEE (199.76) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
9.29% 2018
2017
2018
Q1: 9.07%
Med: 32.86%
Q3: 54.83%
Average -19 pts over 2 years

In 2018, the financial autonomy of THERMIQUE SUD EST VENDEE (9.3%) 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
-13.17 years 2018
2017
2018
Q1: 0.0 years
Med: 0.06 years
Q3: 0.96 years
Excellent

In 2018, the repayment capacity of THERMIQUE SUD EST VENDEE (-13.17) 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 112.99. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2018) ?
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

112.994

Interest coverage (2018) ?
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

-13.198

Liquidity indicators evolution
THERMIQUE SUD EST VENDEE

Sector positioning

Liquidity ratio
112.99 2018
2017
2018
Q1: 144.3
Med: 202.96
Q3: 305.96
Watch

In 2018, the liquidity ratio of THERMIQUE SUD EST VENDEE (112.99) 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
-13.2x 2018
2017
2018
Q1: 0.0x
Med: 0.14x
Q3: 2.09x
Watch

In 2018, the interest coverage of THERMIQUE SUD EST VENDEE (-13.2x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 89 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 116 days. Favorable situation: supplier credit is longer than customer credit by 27 days. Inventory turnover is 12 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 93 days of revenue, i.e. 279 k€ to permanently finance.

Operating WCR (2018) ?
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

279 039 €

Customer credit (2018) ?
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

89 j

Supplier credit (2018) ?
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

116 j

Inventory turnover (2018) ?
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 (2018) ?
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

93 j

WCR and payment terms evolution
THERMIQUE SUD EST VENDEE

Positioning of THERMIQUE SUD EST VENDEE in its sector

Comparison with sector Travaux d'installation d'eau et de gaz en tous locaux

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (46 transactions). This range of 92 531€ to 367 052€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2018
Indicative
92k€ 227k€ 367k€
227 006 € Range: 92 531€ - 367 052€
NAF 5 année 2018

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 46 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'installation d'eau et de gaz en tous locaux)

Compare THERMIQUE SUD EST VENDEE with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux d'installation d'eau et de gaz en tous locaux

Frequently asked questions about THERMIQUE SUD EST VENDEE

What is the revenue of THERMIQUE SUD EST VENDEE ?

The revenue of THERMIQUE SUD EST VENDEE in 2018 is 1.1 M€.

Is THERMIQUE SUD EST VENDEE profitable?

THERMIQUE SUD EST VENDEE recorded a net loss in 2018.

Where is the headquarters of THERMIQUE SUD EST VENDEE ?

The headquarters of THERMIQUE SUD EST VENDEE is located in LUCON (85400), in the department Vendee.

Where to find the tax return of THERMIQUE SUD EST VENDEE ?

The tax return of THERMIQUE SUD EST VENDEE 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 THERMIQUE SUD EST VENDEE operate?

THERMIQUE SUD EST VENDEE operates in the sector Travaux d'installation d'eau et de gaz en tous locaux (NAF code 43.22A). See the 'Sector positioning' section above to compare the company with its competitors.