Tractial S.A.
ALTRA🇫🇷Leveraged
Tractial (formerly BD Multimedia) is a French fintech company listed on Euronext Growth Paris, providing payment solutions, micropayments, and fintech-as-a-service. The company launched a formal BTC treasury strategy in May 2025, funded through two convertible bond issuances totaling €2M.
BTC Holdings
26.72 BTC
Insufficient history
Stock PriceUpdated 15h ago
€2.56▼ 8.24%
180d
Total financing
2.00M EUR
180d
mNAV
10.78x▼ 8.13%
180d
Leverage
72.7%
180d
BTC Risk
3.74%1.4x
Sats/Share
376
180d
Mkt capFD
18.18M EUR
SharesFD
7.10M
Fiat reserve
774.00K EUR
Total reserve
2.46M EUR
Dilution
29.9%
Coverage
46.8 yr
BTC mix
70%
Analytics
BTC Coverage
FinancialsUnverified
French GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets€6.3M▲33.2%
Total Liabilities€4.9M▲65.7%
Stockholders' Equity€1.4M▼19.8%
Cash & Equivalents€3M▲348.2%
Total Debt€3M▲152.8%
Digital Assets€2.7M
Income Statement
Revenue€4.4M▲74.1%
Operating Income€-154K▲88.2%
Net Income€-598K▼443.6%
Interest Expense€43K▲43.3%
Cash Flow
Operating Cash Flow€674K▲193.6%
Instruments
ALTRA-Jun27
Jun '25 – Jun '27
Coupon
2.1%
Principal
1.00M EUR
Outstanding
1.00M EUR
Conv. price
6.00 EUR
BTC Rating
2.0x
ALTRA-Jul27
Jul '25 – Jul '27
Coupon
0%
Principal
1.00M EUR
Outstanding
400.00K EUR
Conv. price
6.00 EUR
BTC Rating
1.4x
ALTRA-Mar27
Mar '24 – Mar '27
Coupon
2.5%
Principal
900.00K EUR
Outstanding
600.00K EUR
Conv. price
1.50 EUR
BTC Rating
>10x
Total
2.00M EUR
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| ALTRA-Jun27 | Jun '25 – Jun '27 | 2.1% | 1.00M EUR | 1.00M EUR | 6.00 EUR | 2.0x |
| ALTRA-Jul27 | Jul '25 – Jul '27 | 0% | 1.00M EUR | 400.00K EUR | 6.00 EUR | 1.4x |
| ALTRA-Mar27 | Mar '24 – Mar '27 | 2.5% | 900.00K EUR | 600.00K EUR | 1.50 EUR | >10x |
| Total | 2.00M EUR | |||||
Recent Changes
Fri, May 22, 2026
Shares Outstanding
5.6M→5.5M-100.0K(-1.8%)
Voting Rights & Shares Declaration (22 May 2026)
Mon, May 4, 2026
Shares Outstanding
5.3M→5.6M+300.0K(+5.7%)
+300,000 from conversion of 250,000 bonds (100k 2024 CBs + 150k Jul 2025 CBs)
€900K Convertible Bond Conversion (2024 + 2025 Issuances)Debt OutstandingConversionALTRA-Jul27
1.0M→400.0K-600.0K(-60.0%)
€600,000 of July 2025 issuance converted: 150,000 bonds × 2/3 share/bond at €6 = 100,000 new shares
€900K Convertible Bond Conversion (2024 + 2025 Issuances)Debt OutstandingConversionALTRA-Mar27
900.0K→600.0K-300.0K(-33.3%)
€300,000 of 2024 issuance converted: 100,000 bonds × 2 shares/bond at €1.50 = 200,000 new shares
€900K Convertible Bond Conversion (2024 + 2025 Issuances)Wed, Dec 31, 2025
Fiat Reserve
681.0K→774.0K+93.0K(+13.7%)EUR
Disponibilités (fiat cash) only; excludes crypto-actifs €2,708K (tracked separately) and €3K bank overdrafts.
Annual Report 2025Wed, Dec 17, 2025
Shares Outstanding
2.6M→5.3M+2.7M(+103.1%)
2-for-1 Non-Dilutive Share Split