VOLTAIRE-BIOGAZ : revenue, balance sheet and financial ratios

In 2025, VOLTAIRE-BIOGAZ achieves revenue of 2.0 M€. After deducting consumption (506 k€), gross margin stands at 1.5 M€, i.e. a rate of 74%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 776 k€, representing 39.5% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 149 k€, i.e. 7.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 593%. 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 80%. 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 11.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 32.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 346.41. 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 23.2x. 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: 51 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 137 days. Excellent situation: suppliers finance 86 days of the operating cycle (retail model). Inventory turnover is 111 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 180 days of revenue, i.e. 981 k€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (44 transactions). This range of 201 487€ to 1 678 856€ is provided for information purposes only and requires in-depth analysis to be confirmed.