VSP DEVELOPPEMENT : revenue, balance sheet and financial ratios

VSP DEVELOPPEMENT is a French company founded 17 years ago, specialized in the sector Location de courte durée de voitures et de véhicules automobiles légers. Based in PIERRY (51530), this company of category PME shows in 2025 a revenue of 12 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-18

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

Financial history - VSP DEVELOPPEMENT (SIREN 511025306)
Indicator 2025 2024 2023 2022 2021 2020 2019 2018 2016
Revenue 12 474 € 1 567 € 1 522 € 1 000 € 1 667 € 10 732 € N/C 9 200 € 35 047 €
Net income 45 € 95 € 189 € -349 € 408 € 177 € -1 250 € -2 182 € 2 796 €
EBITDA 3 431 € 95 € 189 € -347 € 414 € 177 € -1 249 € -3 361 € 2 369 €
Net margin 0.4% 6.1% 12.4% -34.9% 24.5% 1.6% N/C -23.7% 8.0%

Revenue and income statement

In 2025, VSP DEVELOPPEMENT achieves revenue of 12 k€. Revenue is declining over the period 2016-2025 (CAGR: -10.8%). Vs 2024, growth of +696% (2 k€ -> 12 k€). After deducting consumption (7 k€), gross margin stands at 5 k€, i.e. a rate of 40%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3 k€, representing 27.5% of revenue. Positive scissor effect: EBITDA margin improves by +21.4 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 45 €, i.e. 0.4% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2025) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

12 474 €

Gross margin (2025) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

5 041 €

EBITDA (2025) ?
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

3 431 €

EBIT (2025) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

2 098 €

Net income (2025) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

45 €

EBITDA margin (2025) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

27.5%

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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 551%. 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 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 694.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2025) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

551.269%

Financial autonomy (2025) ?
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

15.212%

Cash flow / Revenue (2025) ?
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

0.361%

Repayment capacity (2025) ?
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

694.844

Solvency indicators evolution
VSP DEVELOPPEMENT

Sector positioning

Debt ratio
551.27 2025
2023
2024
2025
Q1: 0.08
Med: 30.52
Q3: 216.41
Watch

In 2025, the debt ratio of VSP DEVELOPPEMENT (551.27) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
15.21% 2025
2023
2024
2025
Q1: 11.29%
Med: 37.44%
Q3: 66.69%
Average -11 pts over 3 years

In 2025, the financial autonomy of VSP DEVELOPPEMENT (15.2%) 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
694.84 years 2025
2023
2024
2025
Q1: 0.0 years
Med: 0.79 years
Q3: 3.51 years
Watch +19 pts over 3 years

In 2025, the repayment capacity of VSP DEVELOPPEMENT (694.84) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 10776.30. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2025) ?
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

10776.301

Interest coverage (2025) ?
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

0.0

Liquidity indicators evolution
VSP DEVELOPPEMENT

Sector positioning

Liquidity ratio
10776.3 2025
2023
2024
2025
Q1: 108.38
Med: 208.84
Q3: 511.51
Excellent +16 pts over 3 years

In 2025, the liquidity ratio of VSP DEVELOPPEMENT (10776.30) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
0.0x 2025
2023
2024
2025
Q1: 0.0x
Med: 0.27x
Q3: 9.66x
Average

In 2025, the interest coverage of VSP DEVELOPPEMENT (0.0x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

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: 291 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 0 days. The gap of 291 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 339 days of revenue, i.e. 12 k€ to permanently finance. Notable WCR improvement over the period (-84%), freeing up cash.

Operating WCR (2025) ?
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

11 735 €

Customer credit (2025) ?
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

291 j

Supplier credit (2025) ?
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

0 j

Inventory turnover (2025) ?
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

0 j

WCR in days of revenue (2025) ?
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

339 j

WCR and payment terms evolution
VSP DEVELOPPEMENT

Positioning of VSP DEVELOPPEMENT in its sector

Comparison with sector Location de courte durée de voitures et de véhicules automobiles légers

Valuation estimate

Based on 276 transactions of similar company sales (all years), the value of VSP DEVELOPPEMENT is estimated at 29 340 € (range 6 209€ - 39 571€). With an EBITDA of 3 431€, the sector multiple of 11.9x is applied. The price/revenue ratio is 2.33x (premium 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.

Estimated enterprise value 2025
276 transactions
6k€ 29k€ 39k€
29 340 € Range: 6 209€ - 39 571€
NAF 5 all-time

Valuation detail by method

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EBITDA Multiple 50%
3 431 € × 11.9x
Estimation 40 995 €
8 336€ - 55 780€
Revenue Multiple 30%
12 474 € × 2.33x
Estimation 29 110 €
6 796€ - 37 852€
Net Income Multiple 20%
45 € × 12.3x
Estimation 552 €
14€ - 1 628€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 276 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 (Location de courte durée de voitures et de véhicules automobiles légers)

Compare VSP DEVELOPPEMENT with other companies in the same sector:

Voir toutes les statistiques du secteur Location de courte durée de voitures et de véhicules automobiles légers

Frequently asked questions about VSP DEVELOPPEMENT

What is the revenue of VSP DEVELOPPEMENT ?

The revenue of VSP DEVELOPPEMENT in 2025 is 12 k€.

Is VSP DEVELOPPEMENT profitable?

Yes, VSP DEVELOPPEMENT generated a net profit of 45€ in 2025.

Where is the headquarters of VSP DEVELOPPEMENT ?

The headquarters of VSP DEVELOPPEMENT is located in PIERRY (51530), in the department Marne.

Where to find the tax return of VSP DEVELOPPEMENT ?

The tax return of VSP DEVELOPPEMENT 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 VSP DEVELOPPEMENT operate?

VSP DEVELOPPEMENT operates in the sector Location de courte durée de voitures et de véhicules automobiles légers (NAF code 77.11A). See the 'Sector positioning' section above to compare the company with its competitors.