VHL SERVICES : revenue, balance sheet and financial ratios

VHL SERVICES is a French company founded 23 years ago, specialized in the sector Travaux d'installation d'équipements thermiques et de climatisation. Based in NIEDERHERGHEIM (68127), this company of category PME shows in 2023 a revenue of 1.5 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-25

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

Financial history - VHL SERVICES (SIREN 443332689)
Indicator 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 1 519 879 € 1 517 010 € 1 494 461 € 1 089 325 € 1 151 544 € 1 149 953 € 1 163 165 € 1 293 935 €
Net income 22 920 € 45 663 € 66 204 € 28 779 € 10 013 € 68 098 € 48 675 € 72 023 €
EBITDA 26 090 € 74 206 € 116 791 € 40 003 € 9 642 € 116 423 € 195 600 € 63 810 €
Net margin 1.5% 3.0% 4.4% 2.6% 0.9% 5.9% 4.2% 5.6%

Revenue and income statement

In 2023, VHL SERVICES achieves revenue of 1.5 M€. Revenue is growing positively over 8 years (CAGR: +2.3%). Vs 2022: +0%. After deducting consumption (214 k€), gross margin stands at 1.3 M€, i.e. a rate of 86%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 26 k€, representing 1.7% of revenue. Warning negative scissor effect: despite revenue change (+0%), EBITDA varies by -65%, reducing margin by 3.2 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 23 k€, i.e. 1.5% 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

1 519 879 €

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

1 305 856 €

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

26 090 €

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

12 435 €

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

22 920 €

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

1.7%

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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 0%. 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 35%. The balance between equity and debt is satisfactory. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

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

0.0%

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

35.148%

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

2.537%

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

0.0

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

35.1%

Solvency indicators evolution
VHL SERVICES

Sector positioning

Debt ratio
0.0 2023
2021
2022
2023
Q1: 2.09
Med: 17.22
Q3: 54.06
Excellent

In 2023, the debt ratio of VHL SERVICES (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
35.15% 2023
2021
2022
2023
Q1: 15.57%
Med: 35.33%
Q3: 53.92%
Average

In 2023, the financial autonomy of VHL SERVICES (35.1%) 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
0.0 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.21 years
Q3: 1.37 years
Excellent

In 2023, the repayment capacity of VHL SERVICES (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 192.51. 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 2.9x. Financial charges are adequately covered by operations.

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

192.512

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

2.886

Liquidity indicators evolution
VHL SERVICES

Sector positioning

Liquidity ratio
192.51 2023
2021
2022
2023
Q1: 152.96
Med: 207.19
Q3: 302.49
Average

In 2023, the liquidity ratio of VHL SERVICES (192.51) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
2.89x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.26x
Q3: 2.24x
Excellent +25 pts over 3 years

In 2023, the interest coverage of VHL SERVICES (2.9x) 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: 68 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 68 days. Inventory turnover is 14 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 24 days of revenue, i.e. 102 k€ to permanently finance. Over 2016-2023, WCR increased by +109%, requiring additional financing.

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

101 650 €

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

68 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

68 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

14 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

24 j

WCR and payment terms evolution
VHL SERVICES

Positioning of VHL SERVICES in its sector

Comparison with sector Travaux d'installation d'équipements thermiques et de climatisation

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (26 transactions). This range of 97 539€ to 182 910€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2023
Indicative
97k€ 108k€ 182k€
108 660 € Range: 97 539€ - 182 910€
NAF 5 année 2023

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 26 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 (Travaux d'installation d'équipements thermiques et de climatisation)

Compare VHL SERVICES with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux d'installation d'équipements thermiques et de climatisation

Frequently asked questions about VHL SERVICES

What is the revenue of VHL SERVICES ?

The revenue of VHL SERVICES in 2023 is 1.5 M€.

Is VHL SERVICES profitable?

Yes, VHL SERVICES generated a net profit of 23 k€ in 2023.

Where is the headquarters of VHL SERVICES ?

The headquarters of VHL SERVICES is located in NIEDERHERGHEIM (68127), in the department Haut-Rhin.

Where to find the tax return of VHL SERVICES ?

The tax return of VHL SERVICES 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 VHL SERVICES operate?

VHL SERVICES operates in the sector Travaux d'installation d'équipements thermiques et de climatisation (NAF code 43.22B). See the 'Sector positioning' section above to compare the company with its competitors.