VARIANT CONSULTANTS : revenue, balance sheet and financial ratios

VARIANT CONSULTANTS is a French company founded 35 years ago, specialized in the sector Conseil pour les affaires et autres conseils de gestion. Based in LE MANS (72000), this company of category PME shows in 2023 a revenue of 935 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-11

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

Financial history - VARIANT CONSULTANTS (SIREN 380581678)
Indicator 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 935 045 € 1 080 132 € 746 789 € 583 937 € 1 037 916 € 1 078 529 € 917 696 € N/C
Net income 91 526 € 215 294 € 38 615 € -41 422 € 125 011 € 71 233 € 19 631 € 1 524 €
EBITDA 112 417 € 281 008 € 78 297 € -35 564 € 173 059 € -76 001 € 77 389 € N/C
Net margin 9.8% 19.9% 5.2% -7.1% 12.0% 6.6% 2.1% N/C

Revenue and income statement

In 2023, VARIANT CONSULTANTS achieves revenue of 935 k€. Revenue is growing positively over 8 years (CAGR: +0.3%). Significant drop of -13% vs 2022. After deducting consumption (0 €), gross margin stands at 935 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 112 k€, representing 12.0% of revenue. Warning negative scissor effect: despite revenue change (-13%), EBITDA varies by -60%, reducing margin by 14.0 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 92 k€, i.e. 9.8% 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

935 045 €

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

935 045 €

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

112 417 €

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

115 897 €

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

91 526 €

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

12.0%

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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 12%. 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 68%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

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

11.85%

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

68.18%

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

9.424%

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

0.475

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

30.9%

Solvency indicators evolution
VARIANT CONSULTANTS

Sector positioning

Debt ratio
11.85 2023
2021
2022
2023
Q1: 0.0
Med: 4.57
Q3: 46.69
Average -21 pts over 3 years

In 2023, the debt ratio of VARIANT CONSULTANTS (11.85) 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
68.18% 2023
2021
2022
2023
Q1: 4.35%
Med: 38.51%
Q3: 74.89%
Good +23 pts over 3 years

In 2023, the financial autonomy of VARIANT CONSULTANTS (68.2%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
0.47 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.0 years
Q3: 1.06 years
Average -14 pts over 3 years

In 2023, the repayment capacity of VARIANT CONSULTANTS (0.47) 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 311.11. 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 0.3x. Danger: operating income does not cover interest charges, unsustainable situation.

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

311.107

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

0.291

Liquidity indicators evolution
VARIANT CONSULTANTS

Sector positioning

Liquidity ratio
311.11 2023
2021
2022
2023
Q1: 139.84
Med: 306.26
Q3: 899.73
Good +17 pts over 3 years

In 2023, the liquidity ratio of VARIANT CONSULTANTS (311.11) 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
0.29x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.0x
Q3: 0.24x
Excellent

In 2023, the interest coverage of VARIANT CONSULTANTS (0.3x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 79 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 25 days. The gap of 54 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 68 days of revenue, i.e. 176 k€ to permanently finance.

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

175 601 €

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

79 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

25 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

68 j

WCR and payment terms evolution
VARIANT CONSULTANTS

Positioning of VARIANT CONSULTANTS in its sector

Comparison with sector Conseil pour les affaires et autres conseils de gestion

Valuation estimate

Based on 66 transactions of similar company sales in 2023, the value of VARIANT CONSULTANTS is estimated at 526 988 € (range 180 584€ - 932 333€). With an EBITDA of 112 417€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.63x (in line with sector norms). 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
66 tx
180k€ 526k€ 932k€
526 988 € Range: 180 584€ - 932 333€
NAF 5 année 2023

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
112 417 € × 4.0x
Estimation 445 037 €
82 499€ - 652 337€
Revenue Multiple 30%
935 045 € × 0.63x
Estimation 591 275 €
255 090€ - 926 665€
Net Income Multiple 20%
91 526 € × 6.9x
Estimation 635 436 €
314 043€ - 1 640 827€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 66 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 (Conseil pour les affaires et autres conseils de gestion)

Compare VARIANT CONSULTANTS with other companies in the same sector:

Voir toutes les statistiques du secteur Conseil pour les affaires et autres conseils de gestion

Frequently asked questions about VARIANT CONSULTANTS

What is the revenue of VARIANT CONSULTANTS ?

The revenue of VARIANT CONSULTANTS in 2023 is 935 k€.

Is VARIANT CONSULTANTS profitable?

Yes, VARIANT CONSULTANTS generated a net profit of 92 k€ in 2023.

Where is the headquarters of VARIANT CONSULTANTS ?

The headquarters of VARIANT CONSULTANTS is located in LE MANS (72000), in the department Sarthe.

Where to find the tax return of VARIANT CONSULTANTS ?

The tax return of VARIANT CONSULTANTS 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 VARIANT CONSULTANTS operate?

VARIANT CONSULTANTS operates in the sector Conseil pour les affaires et autres conseils de gestion (NAF code 70.22Z). See the 'Sector positioning' section above to compare the company with its competitors.