VEGAM : revenue, balance sheet and financial ratios

VEGAM is a French company founded 59 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail . Based in CESSON-SEVIGNE (35510), this company of category GE shows in 2024 a revenue of 36.5 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - VEGAM (SIREN 679200071)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 36 514 853 € 56 222 109 € 64 404 664 € 45 634 707 € 41 084 717 € 40 933 527 € 43 991 564 € 49 094 558 € 55 630 013 €
Net income 336 049 € 182 822 € 1 688 133 € 706 623 € 1 019 173 € -208 499 € 728 719 € 799 598 € 758 438 €
EBITDA 760 863 € 571 641 € 2 692 307 € 1 595 700 € 1 826 144 € 654 125 € 1 342 455 € 609 692 € 1 797 842 €
Net margin 0.9% 0.3% 2.6% 1.5% 2.5% -0.5% 1.7% 1.6% 1.4%

Revenue and income statement

In 2024, VEGAM achieves revenue of 36.5 M€. Revenue is declining over the period 2016-2024 (CAGR: -5.1%). Significant drop of -35% vs 2023. After deducting consumption (25.2 M€), gross margin stands at 11.3 M€, i.e. a rate of 31%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 761 k€, representing 2.1% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 336 k€, i.e. 0.9% 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

36 514 853 €

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

11 309 656 €

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

760 863 €

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

7 847 €

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

336 049 €

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

2.1%

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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 16%. 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 67%. 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 2.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.0% 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

15.876%

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

67.24%

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

2.998%

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

2.572

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

19.7%

Solvency indicators evolution
VEGAM

Sector positioning

Debt ratio
15.88 2024
2022
2023
2024
Q1: 6.05
Med: 44.93
Q3: 120.21
Good +6 pts over 3 years

In 2024, the debt ratio of VEGAM (15.88) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
67.24% 2024
2022
2023
2024
Q1: 20.03%
Med: 38.65%
Q3: 57.23%
Excellent

In 2024, the financial autonomy of VEGAM (67.2%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
2.57 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.88 years
Q3: 5.75 years
Average +32 pts over 3 years

In 2024, the repayment capacity of VEGAM (2.57) 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 328.69. 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 12.8x. Operating income very largely covers interest expenses: high safety margin.

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

328.694

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

12.849

Liquidity indicators evolution
VEGAM

Sector positioning

Liquidity ratio
328.69 2024
2022
2023
2024
Q1: 134.88
Med: 211.56
Q3: 350.49
Good +8 pts over 3 years

In 2024, the liquidity ratio of VEGAM (328.69) 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
12.85x 2024
2022
2023
2024
Q1: 0.0x
Med: 8.11x
Q3: 42.47x
Good

In 2024, the interest coverage of VEGAM (12.8x) 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: 55 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. The company must finance 16 days of gap between collections and payments. Overall, WCR represents 162 days of revenue, i.e. 16.5 M€ to permanently finance. Over 2016-2024, WCR increased by +107%, 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

16 456 514 €

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

55 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

39 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

162 j

WCR and payment terms evolution
VEGAM

Positioning of VEGAM in its sector

Comparison with sector Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail

Valuation estimate

Based on 94 transactions of similar company sales (all years), the value of VEGAM is estimated at 1 934 817 € (range 1 270 890€ - 2 939 016€). With an EBITDA of 760 863€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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
94 tx
1270k€ 1934k€ 2939k€
1 934 817 € Range: 1 270 890€ - 2 939 016€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
760 863 € × 0.5x
Estimation 371 053 €
219 089€ - 1 586 332€
Revenue Multiple 30%
36 514 853 € × 0.15x
Estimation 5 518 219 €
3 745 192€ - 6 335 310€
Net Income Multiple 20%
336 049 € × 1.4x
Estimation 469 123 €
188 940€ - 1 226 287€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 94 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 (Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail )

Compare VEGAM with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail

Frequently asked questions about VEGAM

What is the revenue of VEGAM ?

The revenue of VEGAM in 2024 is 36.5 M€.

Is VEGAM profitable?

Yes, VEGAM generated a net profit of 336 k€ in 2024.

Where is the headquarters of VEGAM ?

The headquarters of VEGAM is located in CESSON-SEVIGNE (35510), in the department Ille-et-Vilaine.

Where to find the tax return of VEGAM ?

The tax return of VEGAM 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 VEGAM operate?

VEGAM operates in the sector Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail (NAF code 46.21Z). See the 'Sector positioning' section above to compare the company with its competitors.