TRIANGLE APPRO : revenue, balance sheet and financial ratios

TRIANGLE APPRO is a French company founded 13 years ago, specialized in the sector Fabrication de structures métalliques et de parties de structures. Based in MOREE (41160), this company of category ETI shows in 2024 a revenue of 80.3 M€. 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

Financial history - TRIANGLE APPRO (SIREN 753111442)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 80 328 419 € 74 049 302 € 51 462 288 € 25 762 657 € 20 530 632 € 17 901 539 € 16 272 149 € 12 586 464 € 5 290 879 €
Net income 2 867 475 € 4 926 719 € 132 726 € 888 368 € 1 223 074 € 291 106 € 144 438 € 13 615 € 31 945 €
EBITDA 4 027 981 € 7 563 877 € 249 494 € 1 196 908 € 1 658 147 € 411 585 € 396 015 € -320 324 € 29 613 €
Net margin 3.6% 6.7% 0.3% 3.4% 6.0% 1.6% 0.9% 0.1% 0.6%

Revenue and income statement

In 2024, TRIANGLE APPRO achieves revenue of 80.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +40.5%. Vs 2023: +8%. After deducting consumption (59.5 M€), gross margin stands at 20.8 M€, i.e. a rate of 26%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.0 M€, representing 5.0% of revenue. Warning negative scissor effect: despite revenue change (+8%), EBITDA varies by -47%, reducing margin by 5.2 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.9 M€, i.e. 3.6% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

80 328 419 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

20 778 823 €

EBITDA (2024) ?
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

4 027 981 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

4 324 760 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

2 867 475 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

5.0%

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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 79%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 34%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 3.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

78.933%

Financial autonomy (2024) ?
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

34.12%

Cash flow / Revenue (2024) ?
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

3.2%

Repayment capacity (2024) ?
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

3.009

Asset age ratio (2024) ?
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

27.3%

Solvency indicators evolution
TRIANGLE APPRO

Sector positioning

Debt ratio
78.93 2024
2022
2023
2024
Q1: 6.02
Med: 21.5
Q3: 63.73
Average +18 pts over 3 years

In 2024, the debt ratio of TRIANGLE APPRO (78.93) 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
34.12% 2024
2022
2023
2024
Q1: 26.51%
Med: 45.66%
Q3: 61.64%
Average +10 pts over 3 years

In 2024, the financial autonomy of TRIANGLE APPRO (34.1%) 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
3.01 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.73 years
Q3: 2.18 years
Average

In 2024, the repayment capacity of TRIANGLE APPRO (3.01) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 255.80. 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 1.8x. Coverage is limited: any activity downturn would jeopardize interest payments.

Liquidity ratio (2024) ?
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

255.801

Interest coverage (2024) ?
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

1.787

Liquidity indicators evolution
TRIANGLE APPRO

Sector positioning

Liquidity ratio
255.8 2024
2022
2023
2024
Q1: 167.49
Med: 241.01
Q3: 341.44
Good +34 pts over 3 years

In 2024, the liquidity ratio of TRIANGLE APPRO (255.80) 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.

Interest coverage
1.79x 2024
2022
2023
2024
Q1: 0.0x
Med: 1.53x
Q3: 6.1x
Good -24 pts over 3 years

In 2024, the interest coverage of TRIANGLE APPRO (1.8x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

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: 35 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. Favorable situation: supplier credit is longer than customer credit by 8 days. Inventory turnover is 75 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 116 days of revenue, i.e. 25.8 M€ to permanently finance. Over 2016-2024, WCR increased by +1471%, requiring additional financing.

Operating WCR (2024) ?
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

25 836 029 €

Customer credit (2024) ?
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

35 j

Supplier credit (2024) ?
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

43 j

Inventory turnover (2024) ?
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

75 j

WCR in days of revenue (2024) ?
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

116 j

WCR and payment terms evolution
TRIANGLE APPRO

Positioning of TRIANGLE APPRO in its sector

Comparison with sector Fabrication de structures métalliques et de parties de structures

Valuation estimate

Based on 56 transactions of similar company sales (all years), the value of TRIANGLE APPRO is estimated at 6 288 766 € (range 3 775 904€ - 12 777 669€). With an EBITDA of 4 027 981€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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 2024
56 tx
3775k€ 6288k€ 12777k€
6 288 766 € Range: 3 775 904€ - 12 777 669€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
4 027 981 € × 1.0x
Estimation 4 176 455 €
2 681 606€ - 9 640 146€
Revenue Multiple 30%
80 328 419 € × 0.13x
Estimation 10 340 577 €
5 455 276€ - 13 129 035€
Net Income Multiple 20%
2 867 475 € × 1.9x
Estimation 5 491 827 €
3 992 595€ - 20 094 432€
How is this estimate calculated?

This estimate is based on the analysis of 56 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 (Fabrication de structures métalliques et de parties de structures)

Compare TRIANGLE APPRO with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication de structures métalliques et de parties de structures

Frequently asked questions about TRIANGLE APPRO

What is the revenue of TRIANGLE APPRO ?

The revenue of TRIANGLE APPRO in 2024 is 80.3 M€.

Is TRIANGLE APPRO profitable?

Yes, TRIANGLE APPRO generated a net profit of 2.9 M€ in 2024.

Where is the headquarters of TRIANGLE APPRO ?

The headquarters of TRIANGLE APPRO is located in MOREE (41160), in the department Loir-et-Cher.

Where to find the tax return of TRIANGLE APPRO ?

The tax return of TRIANGLE APPRO 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 TRIANGLE APPRO operate?

TRIANGLE APPRO operates in the sector Fabrication de structures métalliques et de parties de structures (NAF code 25.11Z). See the 'Sector positioning' section above to compare the company with its competitors.