Samuel HAYOT
Chartered Accountant
A profitable French SME is usually worth 4 to 7 times its adjusted EBITDA, less net debt. The three-step method to estimate your business, with sector multiples and a fully worked example.
How to use ADEME's Base Empreinte: link each piece of activity data to the right emission factor, choose physical or monetary data, and produce a reliable carbon footprint, seen from the accountant's seat.
Applying the carbon footprint to restaurants: the weight of food purchases (Scope 3), kitchen energy, bio-waste and food waste, with the accounting items that feed the calculation.
OPERAT declaration under the French tertiary decree: who is concerned, which data to gather, the step-by-step procedure and the 30 September deadline, without risking a fine.
Calculating your green-taxonomy-aligned turnover: eligible vs aligned, DNSH, minimum safeguards and the three turnover, CapEx and OpEx ratios, after the 2026 Omnibus.
ESRS E5 circular economy: resource inflows and outflows, waste, the LEAP method and the link with your accounting data, after the 2026 simplification.
Product eco-design for SMEs: what the AGEC law, the ESPR regulation and the EPR schemes change in 2026, and where the accountant adds costed value.
CSR communication: how to publish a verifiable report, avoid greenwashing sanctioned since 2022, and turn transparency into a real asset.
Décret tertiaire, absolute or relative target: understand Crelat and Cabs, choose the right reference year, and size the real energy reduction effort.
Climate financial risks for SMEs: telling physical and transition risks apart, the TCFD framework now carried by IFRS S2 and ESRS E1.
Factoring and the Dailly assignment both turn trade receivables into immediate cash, but with two opposite logics: full outsourcing versus one-off bank assignment. Our comparison to choose by real need, cost and customer relationship.
Storing through Amazon FBA in several EU countries triggers local VAT registrations the OSS does not cover. Distance sales, stock transfers, IOSS, costs and timing: the full 2026 picture.
At seed stage, the SAFE-style warrant (BSA AIR) and the convertible bond both defer the valuation. One is not debt, the other is. A comparison of criteria, tax and dilution to choose the right instrument for your first round.
The executive manager is excluded from working-time rules; the day-rate manager stays within a protective framework. Confusing the two statuses exposes you to a costly reclassification. The comparison and the criteria to document.
The cap table records who holds what: shares, employee and investor warrants, SAFE-style warrants, convertibles and the option pool. Keeping it up to date and reasoning fully diluted is vital before any raise or sale.
The CAF measures the cash your activity generates by itself. Calculation from EBE or net profit, the difference with self-financing and cash, the ratio banks watch, and the real levers to improve it.
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