The song is about the gray areas and complicated emotions in relationships or interpersonal connections.
The complexity and depth of the singer's feelings are reflected in the line 'Des milliers de nuances de gris'.
Despite love and disappointment, the relationship remains in an indecipherable gray area, as emphasized in the chorus 'C′est ni noir, ni blanc, c′est tout gris'.
The song also reflects on the meaning of money and material things in relationships, as well as on true values in difficult times.
Finally, the song addresses the theme of letting go and remembering, while the singer accepts the ambiguity of the situation and keeps the memories in the gray of the past.