VETEC INGINEERING : revenue, balance sheet and financial ratios

In 2025, VETEC INGINEERING achieves revenue of 342 k€. Activity remains stable over the period (CAGR: -3.7%). Vs 2024, growth of +112% (161 k€ -> 342 k€). After deducting consumption (257 k€), gross margin stands at 85 k€, i.e. a rate of 25%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4 k€, representing 1.1% of revenue. Warning negative scissor effect: despite revenue change (+112%), EBITDA varies by -65%, reducing margin by 5.4 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 834 €, i.e. 0.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 11%. 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 43%. 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 5.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 0.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 188.99. 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 3.1x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 109 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 31 days. The gap of 78 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 44 days of revenue, i.e. 42 k€ to permanently finance. Notable WCR improvement over the period (-67%), freeing up cash.

Based on 213 transactions of similar company sales (all years), the value of VETEC INGINEERING is estimated at 17 473 € (range 10 333€ - 40 431€). With an EBITDA of 3 590€, the sector multiple of 1.3x is applied. 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.