VLAEMYNCK : revenue, balance sheet and financial ratios

In 2025, VLAEMYNCK achieves revenue of 19.2 M€. Revenue is growing positively over 10 years (CAGR: +5.0%). Vs 2024: +4%. After deducting consumption (7.9 M€), gross margin stands at 11.3 M€, i.e. a rate of 59%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.8 M€, representing 9.1% of revenue. Positive scissor effect: EBITDA margin improves by +2.5 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 608 k€, i.e. 3.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 153%. 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 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 215.03. 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 19.2x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 98 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 94 days. The company must finance 4 days of gap between collections and payments. Inventory turnover is 115 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 132 days of revenue, i.e. 7.0 M€ to permanently finance. Over 2016-2025, WCR increased by +29%, requiring additional financing.

Based on 229 transactions of similar company sales (all years), the value of VLAEMYNCK is estimated at 3 494 696 € (range 1 424 366€ - 10 125 309€). With an EBITDA of 1 753 778€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.32x (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.