SIREN : 400633517
VARSTOUR is a French company founded 31 years ago, specialized in the sector Activités des agences de voyage. Based in VARS (05560), this company of category PME shows in 2021 a revenue of 348 k€. 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
| Indicator | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Revenue | 347 551 € | 3 685 225 € | 4 519 244 € | 5 414 335 € | 5 458 398 € | 4 868 118 € | 4 130 210 € |
| Net income | 307 776 € | -415 787 € | -497 927 € | 3 996 € | 40 388 € | 26 369 € | 56 116 € |
| EBITDA | 279 675 € | -413 339 € | -206 524 € | 72 804 € | 43 128 € | -5 862 € | 75 333 € |
| Net margin | 88.6% | -11.3% | -11.0% | 0.1% | 0.7% | 0.5% | 1.4% |
In 2021, VARSTOUR achieves revenue of 348 k€. Revenue is declining over the period 2015-2021 (CAGR: -33.8%). Significant drop of -91% vs 2020. After deducting consumption (0 €), gross margin stands at 348 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 280 k€, representing 80.5% of revenue. Positive scissor effect: EBITDA margin improves by +91.7 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 308 k€, i.e. 88.6% of revenue. This profit can be retained or distributed to shareholders.
347 551 €
347 551 €
279 675 €
306 280 €
307 776 €
26.6%
The debt ratio (= Financial debt / Equity x 100) stands at 466%. 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 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 27.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.
465.638%
13.662%
27.531%
2.796
12.1%
In 2021, the debt ratio of VARSTOUR (465.64) 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.
In 2021, the financial autonomy of VARSTOUR (13.7%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.
In 2021, the repayment capacity of VARSTOUR (2.80) 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.
The liquidity ratio (= Current assets / Current liabilities) stands at 444.09. 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 1.1x. Coverage is limited: any activity downturn would jeopardize interest payments.
444.087
1.076
In 2021, the liquidity ratio of VARSTOUR (444.09) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.
In 2021, the interest coverage of VARSTOUR (1.1x) 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) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 54 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 58 days. Favorable situation: supplier credit is longer than customer credit by 4 days. Overall, WCR represents 46 days of revenue, i.e. 45 k€ to permanently finance. Notable WCR improvement over the period (-89%), freeing up cash.
44 546 €
54 j
58 j
0 j
46 j
Based on 80 transactions of similar company sales
(all years),
the value of VARSTOUR is estimated at
353 305 €
(range 162 131€ - 1 130 024€).
With an EBITDA of 279 675€, the sector multiple of 1.6x is applied.
The price/revenue ratio is 0.38x
(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.
Ajustez les pondérations selon votre analyse
This estimate is based on the analysis of 80 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.
This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).
Compare VARSTOUR with other companies in the same sector:
Voir toutes les statistiques du secteur Activités des agences de voyage
The revenue of VARSTOUR in 2021 is 348 k€.
Yes, VARSTOUR generated a net profit of 308 k€ in 2021.
The headquarters of VARSTOUR is located in VARS (05560), in the department Hautes-Alpes.
The tax return of VARSTOUR 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).
VARSTOUR operates in the sector Activités des agences de voyage (NAF code 79.11Z). See the 'Sector positioning' section above to compare the company with its competitors.