VAR VOYAGES SERVICE : revenue, balance sheet and financial ratios

VAR VOYAGES SERVICE is a French company now closed founded 22 years ago, formerly specialized in the sector Autres transports routiers de voyageurs . Based in LA CRAU (83260), this company of category PME shows in 2024 a revenue of 1.7 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 - VAR VOYAGES SERVICE (SIREN 449451962)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 1 651 619 € 1 857 096 € 1 671 118 € 320 575 € 661 542 € 2 222 258 € 2 144 420 € 1 772 740 € 2 112 265 €
Net income 12 710 € -14 860 € -23 770 € -145 146 € -515 899 € -127 316 € -107 002 € 39 688 € 186 317 €
EBITDA -6 578 € 26 670 € -145 177 € -232 856 € -585 681 € -84 215 € -195 751 € -104 399 € 4 548 €
Net margin 0.8% -0.8% -1.4% -45.3% -78.0% -5.7% -5.0% 2.2% 8.8%

Revenue and income statement

In 2024, VAR VOYAGES SERVICE achieves revenue of 1.7 M€. Activity remains stable over the period (CAGR: -3.0%). Significant drop of -11% vs 2023. After deducting consumption (187 k€), gross margin stands at 1.5 M€, i.e. a rate of 89%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -7 k€, representing -0.4% of revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 13 k€, i.e. 0.8% 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

1 651 619 €

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

1 464 962 €

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

-6 578 €

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

-41 194 €

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

12 710 €

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

-0.4%

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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 357%. 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 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.4% 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

356.606%

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

14.71%

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

2.392%

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

8.711

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

49.0%

Solvency indicators evolution
VAR VOYAGES SERVICE

Sector positioning

Debt ratio
356.61 2024
2022
2023
2024
Q1: 1.2
Med: 27.55
Q3: 86.61
Watch

In 2024, the debt ratio of VAR VOYAGES SERVICE (356.61) 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
14.71% 2024
2022
2023
2024
Q1: 15.62%
Med: 35.91%
Q3: 57.37%
Average

In 2024, the financial autonomy of VAR VOYAGES SERVICE (14.7%) 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
8.71 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.26 years
Q3: 2.03 years
Watch

In 2024, the repayment capacity of VAR VOYAGES SERVICE (8.71) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 241.41. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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

241.411

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

-140.027

Liquidity indicators evolution
VAR VOYAGES SERVICE

Sector positioning

Liquidity ratio
241.41 2024
2022
2023
2024
Q1: 118.3
Med: 194.63
Q3: 302.55
Good +36 pts over 3 years

In 2024, the liquidity ratio of VAR VOYAGES SERVICE (241.41) 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
-140.03x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.4x
Q3: 5.47x
Watch

In 2024, the interest coverage of VAR VOYAGES SERVICE (-140.0x) 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: 58 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 16 days. The gap of 42 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 39 days of revenue, i.e. 180 k€ to permanently finance. Notable WCR improvement over the period (-77%), freeing up cash.

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

180 208 €

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

58 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

16 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

0 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

39 j

WCR and payment terms evolution
VAR VOYAGES SERVICE

Positioning of VAR VOYAGES SERVICE in its sector

Comparison with sector Autres transports routiers de voyageurs

Valuation estimate

Based on 85 transactions of similar company sales (all years), the value of VAR VOYAGES SERVICE is estimated at 152 897 € (range 109 110€ - 342 032€). The price/revenue ratio is 0.14x (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
85 tx
109k€ 152k€ 342k€
152 897 € Range: 109 110€ - 342 032€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

Revenue Multiple 30%
1 651 619 € × 0.14x
Estimation 233 355 €
175 597€ - 523 499€
Net Income Multiple 20%
12 710 € × 2.5x
Estimation 32 211 €
9 379€ - 69 833€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 85 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 (Autres transports routiers de voyageurs )

Compare VAR VOYAGES SERVICE with other companies in the same sector:

Voir toutes les statistiques du secteur Autres transports routiers de voyageurs

Frequently asked questions about VAR VOYAGES SERVICE

What is the revenue of VAR VOYAGES SERVICE ?

The revenue of VAR VOYAGES SERVICE in 2024 is 1.7 M€.

Is VAR VOYAGES SERVICE profitable?

Yes, VAR VOYAGES SERVICE generated a net profit of 13 k€ in 2024.

Where is the headquarters of VAR VOYAGES SERVICE ?

The headquarters of VAR VOYAGES SERVICE is located in LA CRAU (83260), in the department Var.

Where to find the tax return of VAR VOYAGES SERVICE ?

The tax return of VAR VOYAGES SERVICE 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 VAR VOYAGES SERVICE operate?

VAR VOYAGES SERVICE operates in the sector Autres transports routiers de voyageurs (NAF code 49.39B). See the 'Sector positioning' section above to compare the company with its competitors.