VOSGES STRUCTURES BOIS SA : revenue, balance sheet and financial ratios

VOSGES STRUCTURES BOIS SA is a French company founded 29 years ago, specialized in the sector Fabrication de charpentes et d'autres menuiseries. Based in RAON AUX BOIS (88220), this company of category PME shows in 2023 a revenue of 9.8 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - VOSGES STRUCTURES BOIS SA (SIREN 411075088)
Indicator 2023 2022 2021 2020 2019 2018
Revenue 9 750 526 € 11 183 652 € 8 845 600 € 7 874 169 € 8 611 515 € 7 414 817 €
Net income 244 094 € 844 953 € 560 710 € 338 770 € 323 458 € 226 121 €
EBITDA 442 818 € 1 172 976 € 798 270 € 487 014 € 447 587 € 330 472 €
Net margin 2.5% 7.6% 6.3% 4.3% 3.8% 3.0%

Revenue and income statement

In 2023, VOSGES STRUCTURES BOIS SA achieves revenue of 9.8 M€. Over the period 2018-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +5.6%. Significant drop of -13% vs 2022. After deducting consumption (3.2 M€), gross margin stands at 6.6 M€, i.e. a rate of 67%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 443 k€, representing 4.5% of revenue. Warning negative scissor effect: despite revenue change (-13%), EBITDA varies by -62%, reducing margin by 5.9 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 244 k€, i.e. 2.5% 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

9 750 526 €

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

6 572 889 €

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

442 818 €

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

275 379 €

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

244 094 €

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

4.5%

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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 18%. 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 39%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.2% 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

17.988%

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

39.337%

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

3.22%

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

1.007

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

21.1%

Solvency indicators evolution
VOSGES STRUCTURES BOIS SA

Sector positioning

Debt ratio
17.99 2023
2021
2022
2023
Q1: 6.87
Med: 29.64
Q3: 90.12
Good

In 2023, the debt ratio of VOSGES STRUCTURES BOIS SA (17.99) 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
39.34% 2023
2021
2022
2023
Q1: 16.62%
Med: 38.62%
Q3: 58.17%
Good -13 pts over 3 years

In 2023, the financial autonomy of VOSGES STRUCTURES BOIS SA (39.3%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
1.01 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.66 years
Q3: 2.45 years
Average

In 2023, the repayment capacity of VOSGES STRUCTURES BOIS SA (1.01) 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 167.63. 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 6.9x. Operating income very largely covers interest expenses: high safety margin.

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

167.633

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

6.869

Liquidity indicators evolution
VOSGES STRUCTURES BOIS SA

Sector positioning

Liquidity ratio
167.63 2023
2021
2022
2023
Q1: 152.19
Med: 217.85
Q3: 320.62
Average -25 pts over 3 years

In 2023, the liquidity ratio of VOSGES STRUCTURES BOIS SA (167.63) 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
6.87x 2023
2021
2022
2023
Q1: 0.0x
Med: 1.19x
Q3: 5.64x
Excellent +9 pts over 3 years

In 2023, the interest coverage of VOSGES STRUCTURES BOIS SA (6.9x) 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: 74 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 64 days. The company must finance 10 days of gap between collections and payments. Inventory turnover is 22 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 92 days of revenue, i.e. 2.5 M€ to permanently finance. Over 2018-2023, WCR increased by +42%, 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

2 497 695 €

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

74 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

64 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

22 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

92 j

WCR and payment terms evolution
VOSGES STRUCTURES BOIS SA

Positioning of VOSGES STRUCTURES BOIS SA in its sector

Comparison with sector Fabrication de charpentes et d'autres menuiseries

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (44 transactions). This range of 457 006€ to 1 990 732€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2023
Indicative
457k€ 880k€ 1990k€
880 969 € Range: 457 006€ - 1 990 732€
NAF 4 all-time Aggregated at NAF sub-class level
How is this estimate calculated?

This estimate is based on the analysis of 44 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 (Fabrication de charpentes et d'autres menuiseries)

Compare VOSGES STRUCTURES BOIS SA with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication de charpentes et d'autres menuiseries

Frequently asked questions about VOSGES STRUCTURES BOIS SA

What is the revenue of VOSGES STRUCTURES BOIS SA ?

The revenue of VOSGES STRUCTURES BOIS SA in 2023 is 9.8 M€.

Is VOSGES STRUCTURES BOIS SA profitable?

Yes, VOSGES STRUCTURES BOIS SA generated a net profit of 244 k€ in 2023.

Where is the headquarters of VOSGES STRUCTURES BOIS SA ?

The headquarters of VOSGES STRUCTURES BOIS SA is located in RAON AUX BOIS (88220), in the department Vosges.

Where to find the tax return of VOSGES STRUCTURES BOIS SA ?

The tax return of VOSGES STRUCTURES BOIS SA 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 VOSGES STRUCTURES BOIS SA operate?

VOSGES STRUCTURES BOIS SA operates in the sector Fabrication de charpentes et d'autres menuiseries (NAF code 16.23Z). See the 'Sector positioning' section above to compare the company with its competitors.