MIRA INFORM REPORT

Report Date :

22.06.2012

IDENTIFICATION DETAILS

Name :	KERES TRADING

Registered Office :	35 B Av De La Gare 29000 Quimper

Country :	France

Financials (as on) :	31.12.2009

Date of Incorporation :	February 2002

Com. Reg. No.:	RCS Quimper B 440 702 736

Legal Form :	Limited Liability Company

Line of Business :	Wholesale (business to business) Frozen products

No. of Employees :	3 to 5

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

France

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Top of Form

Company Name

KERES TRADING SIRET 440 702 736 00032

company summary


Activity (APE)	Wholesale (business to business) Frozen products (4639A)	Legal form	Limited Liability Company
Phone	02 98 94 61 69	RCS Registration	RCS Quimper B 440 702 736
Fax		Share capital	150,000 Euros
Address	KERES TRADING 35 B AV DE LA GARE 29000 QUIMPER	Incorporated Date	02/2002
Nationality	France	Status	Economically active

Last published preferential right

No social security and tax office preferential right to date

Current Directors

Trading to Date	12/31/2009	12/31/2006	12/31/2005
Turnover	5,233,439 €	8,927,173 €	6,964,601 €
Gross Operating Surplus	3,04 % Turnover	2,92 % Turnover	4,07 % Turnover
Net worth	331,870 €	287,687 €	194,160 €
Employees	3 to 5 employees	-	-

	Trends
	Profitability
	Liquidity
	Net worth

company details

Company details

Activity (APE)	Wholesale (business to business) Frozen products (4639A)
RCS Registration	RCS Quimper B 440 702 736	Share capital	150,000 Euros
Registration Court	Quimper (29)	Legal form	Limited Liability Company
Court Registry Number	02 B 00050	EU VAT Number	FR63440702736
Incorporation Date	02/2002	Formation Date	01/2002
Deregistration Date		Last account Date	31/12/2009
Nationality	France

Establishment details

Activity (APE)	Commerce de gros (commerce interentreprises) de produits surgelÃ©s (4639A)	Business Pages FT®	CRUSTACE COQUILLAGE GRO
Postal Address	KERES TRADING 35 B AV DE LA GARE 29000 QUIMPER	Trading Address	35 B AVENUE DE LA GARE 29000 QUIMPER
Telephone	02 98 94 61 69
Fax

Type	Head office	Status	Economically active
Formation Date	05/2008	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	FinistÃ¨re (29)	Region	Bretagne
District		Area
City	QUIMPER	Size of urban area

Other establishments

	Branches	1 branch entities in this company


	Head office	> KERES TRADING <<< - Commerce de gros (commerce interentreprises) de produits surgelÃ©s (4639A) in QUIMPER (29000)

	Secondary establishments	> KERES TRADING - Commerce de gros (commerce interentreprises) de produits surgelÃ©s (4639A) in QUIMPER (29000)

	Regionality	Legal unit with all establishments in same area

	Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

3 to 5 employees

Company workforce

3 to 5 employees

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2009	31/12/2006	31/12/2005
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	22/12/2010	-	-
Activity Code	4639A	4639A	4639A
Employees	3	5	4

Active account

Annual Accounts	31/12/2009		31/12/2006		31/12/2005	Sector Median 2009
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	68Â 665	-88,1%	576Â 712	24,1%	464Â 747	126Â 746	-45,8%
- Intangible assets	0	0%	0	0%	0	935	0%
- Tangible assets	29Â 150	412,3%	5Â 690	-30,1%	8Â 139	39Â 192	-25,6%
- Financial assets	39Â 515	-93,1%	571Â 022	25,1%	456Â 608	8Â 762	351,0%
Net current assets	1Â 897Â 930	7,4%	1Â 767Â 925	46,8%	1Â 204Â 294	1Â 375Â 853	37,9%
- Stocks	564Â 835	106,1%	274Â 075	184,4%	96Â 354	285Â 890	97,6%
- Advanced payments	0	7,4%	392Â 548	0%	392Â 548	0	0%
- Receivables	1Â 219Â 183	11,0%	1Â 098Â 559	73,2%	634Â 421	792Â 103	53,9%
- Securities and cash	113Â 912	4052,8%	2Â 743	-96,6%	80Â 972	109Â 074	4,4%
- Prepaid expenses	-	-	-	-	-	23,50	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	1Â 966Â 596	-16,1%	2Â 344Â 637	40,5%	1Â 669Â 042	1Â 591Â 180	23,6%

Passive Account

Annual Accounts	31/12/2009		31/12/2006		31/12/2005	Sector Median 2009
Shareholders' equity	331Â 870	15,4%	287Â 687	48,2%	194Â 160	467Â 140	-29,0%
Share capital	150Â 000	0%	150Â 000	87,5%	80Â 000	87Â 920	70,6%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	100Â 000	-48,7%	195Â 000	0%	195Â 000	0	0%
Liabilities	1Â 534Â 725	-17,6%	1Â 861Â 950	45,5%	1Â 279Â 882	1Â 209Â 841	26,9%
- Financial liabilities	221Â 520	-30,1%	316Â 700	688,5%	40Â 167	102Â 665	115,8%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	1Â 217Â 760	-8,9%	1Â 336Â 723	63,1%	819Â 794	658Â 718	84,9%
- Tax and social liabilities	90Â 538	-16,4%	108Â 276	-4,0%	112Â 792	123Â 714	-26,8%
- Other debts and fixed assets liabilities	4Â 907	-95,1%	100Â 251	1275,4%	7Â 289	9Â 743	-49,6%
Account regularization	0	0%	0	0%	299Â 840	0	0%
Total liabilities	1Â 966Â 596	-16,1%	2Â 344Â 637	40,5%	1Â 669Â 042	1Â 591Â 180	23,6%

Results

Annual Accounts	31/12/2009		31/12/2006		31/12/2005	Sector Median 2009
Sales of Goods	5Â 244Â 408	-41,7%	8Â 996Â 482	29,5%	6Â 945Â 411	5Â 734Â 453	-8,5%
Net turnover	5Â 233Â 439	-41,4%	8Â 927Â 173	28,2%	6Â 964Â 601	5Â 694Â 179	-8,1%
- of which net export turnover	14Â 097	-92,0%	175Â 617	0%	0	0	0%
Operating charges	5Â 184Â 742	-40,8%	8Â 754Â 557	31,0%	6Â 682Â 581	5Â 614Â 711	-7,7%
Operating profit/loss	59Â 666	-75,3%	241Â 925	-8,0%	262Â 831	84Â 272	-29,2%
Financial income	123	-99,5%	25Â 038	95,4%	12Â 815	2Â 920	-95,8%
Financial charges	106Â 922	-10,9%	120Â 059	-0,6%	120Â 725	6Â 769	1479,6%
Financial profit/loss	-106Â 799	-12,4%	-95Â 021	11,9%	-107Â 910	-1Â 036	-10208,8%
Pretax net operating income	-47Â 133	-132,1%	146Â 904	-5,2%	154Â 920	73Â 930	-163,8%
Extraordinary income	169Â 871	831,5%	18Â 236	18,9%	15Â 338	4Â 763	3466,5%
Extraordinary charges	7Â 844	-65,1%	22Â 470	14,0%	19Â 703	2Â 806	179,5%
Extraordinary profit/loss	162Â 027	2290,5%	-4Â 234	3,0%	-4Â 366	0	0%
Net result	92Â 746	-0,8%	93Â 527	-11,2%	105Â 369	55Â 214	68,0%

Display parameter
Currency	Euro	Kilo Euro

	Normal Account		31/12/2009		31/12/2006		31/12/2005
	Months		12		12		12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2009		31/12/2006		31/12/2005
Grand Total (I to VI)	Net	1Â 966Â 596	-16,1%	2Â 344Â 637	40,5%	1Â 669Â 042
Gross	CO	2Â 004Â 954	-19,9%	2Â 501Â 681	43,9%	1Â 738Â 271
Amortisation	1A	38Â 358	-75,6%	157Â 045	126,8%	69Â 229

Non declared distributed capital (I)

		31/12/2009		31/12/2006		31/12/2005
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	-	-	-	-

Active fixed asset (II)

		31/12/2009		31/12/2006		31/12/2005
Total Active fixed asset (II)	Net	68Â 665	-88,1%	576Â 712	24,1%	464Â 747
Gross	BJ	95Â 703	-84,9%	632Â 065	22,6%	515Â 583
Amortisation	BK	27Â 038	-51,2%	55Â 353	8,9%	50Â 835

Intangilble fixed assets

			31/12/2009		31/12/2006		31/12/2005
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	0	0%	0	0%	0

Tangilble fixed assets

		31/12/2009		31/12/2006		31/12/2005
Lands	Net	0	0%	0	0%	0
Gross	AN	0	0%	0	0%	0
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	0	0%	0	0%	0
Gross	AP	0	0%	0	0%	0
Amortisation	AQ	0	0%	0	0%	0
Plant	Net	0	0%	201	-44,3%	361
Gross	AR	0	0%	800	0%	800
Amortisation	AS	0	0%	599	36,4%	439
Other tangible fixed assets	Net	29Â 150	431,1%	5Â 489	-29,4%	7Â 778
Gross	AT	56Â 188	187,2%	19Â 565	11,8%	17Â 496
Amortisation	AU	27Â 038	92,1%	14Â 076	44,8%	9Â 718
Fixed assets in construction	Net	0	0%	0	0%	0
Gross	AV	0	0%	0	0%	0
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	0	0%	0	0%	0
Gross	AX	0	0%	0	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	29Â 150		5Â 690		8Â 139

Financial assets

		31/12/2009		31/12/2006		31/12/2005
Associates at equity	Net	0	0%	0	0%	0
Gross	CS	0	0%	0	0%	0
Amortisation	CT	0	0%	0	0%	0
Other participations	Net	0	0%	7Â 997	0%	7Â 997
Gross	CU	0	0%	7Â 997	0%	7Â 997
Amortisation	CV	0	0%	0	0%	0
Inter-company receivables	Net	0	0%	74Â 500	4,2%	71Â 500
Gross	BB	0	0%	74Â 500	4,2%	71Â 500
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	15	-100,0%	314Â 126	-4,6%	329Â 111
Gross	BD	15	-100,0%	354Â 804	-4,1%	369Â 789
Amortisation	BE	0	0%	40Â 678	0%	40Â 678
Loans	Net	39Â 500	-77,3%	173Â 899	266,1%	47Â 500
Gross	BF	39Â 500	0%	173Â 899	0%	47Â 500
Amortisation	BG	0		0		0
Other financial assets	Net	0	0%	500	0%	500
Gross	BH	0	0%	500	0%	500
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		39Â 515		571Â 022		456Â 608

Current Assets (III)

		31/12/2009		31/12/2006		31/12/2005
Total Assets	Net	1Â 897Â 930	7,4%	1Â 767Â 925	46,8%	1Â 204Â 294
Gross	CJ	1Â 909Â 250	2,1%	1Â 869Â 616	52,9%	1Â 222Â 688
Amortisation	CK	11Â 320	-88,9%	101Â 692	452,9%	18Â 394

Stocks

		31/12/2009		31/12/2006		31/12/2005
Raw materials	Net	0	0%	353Â 257	12391,4%	2Â 828
Gross	BL	0	0%	353Â 257	12391,4%	2Â 828
Amortisation	BM	0	0%	0	0%	0
Work in progress (goods)	Net	0	0%	0	0%	0
Gross	BN	0	0%	0	0%	0
Amortisation	BO	0	0%	0	0%	0
Work in progress (services)	Net	0	0%	0	0%	0
Gross	BP	0	0%	0	0%	0
Amortisation	BQ	0	0%	0	0%	0
Semi-finished and finished products	Net	0	0%	0	0%	0
Gross	BR	0	0%	0	0%	0
Amortisation	BS	0	0%	0	0%	0
Goods for resale	Net	564Â 835	813,3%	-79Â 182	-184,7%	93Â 526
Gross	BT	564Â 835	0%	0	0%	93Â 526
Amortisation	BU	0	0%	79Â 182	0%	0
Sub Total Stocks	Net	564Â 835	106,1%	274Â 075	184,4%	96Â 354

Advance payments to suppliers

		31/12/2009		31/12/2006		31/12/2005
Advance payments to suppliers	Net	0	0%	392Â 548	0%	392Â 548
Gross	BV	0	0%	392Â 548	0%	392Â 548
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2009		31/12/2006		31/12/2005
Trade accounts receivable	Net	388Â 982	-8,9%	426Â 839	600,9%	60Â 898
Gross	BX	400Â 302	-10,9%	449Â 348	466,7%	79Â 292
Amortisation	BY	11Â 320	-49,7%	22Â 509	22,4%	18Â 394
Other debtors	Net	830Â 201	146,3%	337Â 039	14,5%	294Â 318
Gross	BZ	830Â 201	146,3%	337Â 039	14,5%	294Â 318
Amortisation	CA	0	0%	0	0%	0
Capital subscribed and called up	Net	0	0%	0	0%	0
Gross	CB	0	0%	0	0%	0
Amortisation	CC	0	0%	0	0%	0
Sub Total Debtors	Net	1Â 219Â 183	59,6%	763Â 878	115,0%	355Â 216

Divers

		31/12/2009		31/12/2006		31/12/2005
Investment securities	Net	0	0%	0	0%	0
Gross	CD	0	0%	0	0%	0
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	113Â 912	4052,8%	2Â 743	-96,6%	80Â 972
Gross	CF	113Â 912	4052,8%	2Â 743	-96,6%	80Â 972
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	113Â 912	4052,8%	2Â 743	-96,6%	80Â 972

Prepaid expenses

		31/12/2009		31/12/2006		31/12/2005
Prepaid expenses	Net	0	0%	334Â 681	19,9%	279Â 205
Gross	CH	0	0%	334Â 681	19,9%	279Â 205
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2009		31/12/2006		31/12/2005
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	-	-	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	-	-	-	-
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	-	-	-	-

References

		31/12/2009		31/12/2006		31/12/2005
Due within one year	CP	0	0%	121Â 399	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

			31/12/2009		31/12/2006		31/12/2005
	Grand Total (I to V)	EE	1Â 966Â 596	-16,1%	2Â 344Â 637	40,5%	1Â 669Â 042

Shareholder Equity (I)

		31/12/2009		31/12/2006		31/12/2005
Total shareholders' equity (Total I)	DL	331Â 870	15,4%	287Â 687	48,2%	194Â 160
Equity and shareholders' equity	DA	150Â 000	0%	150Â 000	87,5%	80Â 000
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	15Â 000	136,3%	6Â 347	488,8%	1Â 078
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	0	0%	0	0%	0
Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
Other reserves	DG	82Â 687	118,7%	37Â 813	390,3%	7Â 713
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	-8Â 563	0%	0	0%	0
Profit or loss for the period	DI	92Â 746	-0,8%	93Â 527	-11,2%	105Â 369
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/12/2009		31/12/2006		31/12/2005
Total other capital resources (Total II)	DO	0	0%	0	0%	0
Income from participating securities	DM	0	0%	0	0%	0
Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

		31/12/2009		31/12/2006		31/12/2005
Total provisions for risks and charges (Total III)	DR	100Â 000	-48,7%	195Â 000	0%	195Â 000
Risk provisions	DP	100Â 000	-48,7%	195Â 000	0%	195Â 000
Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

		31/12/2009		31/12/2006		31/12/2005
Total Liabilities (Total IV)	EC	1Â 534Â 725	-17,6%	1Â 861Â 950	45,5%	1Â 279Â 882
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	31Â 050	-53,4%	66Â 700	66,1%	40Â 167
Sundry loans and financial liabilities	DV	190Â 470	-23,8%	250Â 000	0%	0
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	0	0%	0	0%	0
Trade accounts payables	DX	1Â 217Â 760	-8,9%	1Â 336Â 723	63,1%	819Â 794
Tax and social security liabilities	DY	90Â 538	-16,4%	108Â 276	-4,0%	112Â 792
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	4Â 907	-95,1%	100Â 251	1275,4%	7Â 289

Translation loss (V)

			31/12/2009		31/12/2006		31/12/2005
	Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

			31/12/2009		31/12/2006		31/12/2005
	Deferred income	EB	0	0%	0	0%	299Â 840

References

		31/12/2009		31/12/2006		31/12/2005
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	1Â 534Â 725	-17,6%	1Â 861Â 950	45,5%	1Â 279Â 882
Of which current bank facilities	EH	8Â 805	-86,8%	66Â 700	66,1%	40Â 167

Display parameter
Currency	Euro	Kilo Euro

			31/12/2009		31/12/2006		31/12/2005
	Operating result (Total I-II)	GG	59Â 666	-75,3%	241Â 925	-8,0%	262Â 831

2 - Financial result (V - VI)

			31/12/2009		31/12/2006		31/12/2005
	Financial result (Total V-VI)	GV	-106Â 799	-12,4%	-95Â 021	11,9%	-107Â 910

3 - Pre-tax net operating income result (I - VI)

			31/12/2009		31/12/2006		31/12/2005
	Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-47Â 133	-132,1%	146Â 904	-5,2%	154Â 920

4 - Extraordinary result (VII-VIII)

			31/12/2009		31/12/2006		31/12/2005
	Extraordinary result (Total VII-VIII)	HI	162Â 027	3926,8%	-4Â 234	3,0%	-4Â 366

Profit or loss

			31/12/2009		31/12/2006		31/12/2005
	Profit or loss	HN	92Â 746	-0,8%	93Â 527	-11,2%	105Â 369

Total Income (I+III+V+VII)

			31/12/2009		31/12/2006		31/12/2005
	Total Income (I+III+V+VII)	HL	5Â 414Â 402	-40,1%	9Â 039Â 756	29,6%	6Â 973Â 564

Total charges (Total II+IV+VI+VIII+IX+X)

			31/12/2009		31/12/2006		31/12/2005
	Total charges (Total II+IV+VI+VIII+IX+X)	HM	5Â 321Â 656	-40,5%	8Â 946Â 229	30,3%	6Â 868Â 195

Operating income (I)

			31/12/2009		31/12/2006		31/12/2005
	Total operating income (Total I)	FR	5Â 244Â 408	-41,7%	8Â 996Â 482	29,5%	6Â 945Â 411

Operating income (details)

		31/12/2009		31/12/2006		31/12/2005
Sale of goods for resale	FC	5Â 094Â 043	-42,9%	8Â 920Â 474	32,9%	6Â 710Â 069
France	FA	5Â 094Â 043	-41,7%	8Â 744Â 857	30,3%	6Â 710Â 069
Export	FB	0	0%	175Â 617	0%	0
Sale of goods produced	FF	0	0%	0	0%	216Â 181
France	FD	0	0%	0	0%	216Â 181
Export	FE	0	0%	0	0%	0
Sale of services	FI	139Â 396	1980,8%	6Â 699	-82,5%	38Â 352
France	FG	125Â 299	1770,4%	6Â 699	-82,5%	38Â 352
Export	FH	14Â 097	0%	0	0%	0
Net turnover	FL	5Â 233Â 439	-41,4%	8Â 927Â 173	28,2%	6Â 964Â 601
France	FJ	5Â 219Â 342	-40,4%	8Â 751Â 556	25,7%	6Â 964Â 601
Export	FK	14Â 097	-92,0%	175Â 617	0%	0
Stocked production	FM	0	0%	0	0%	-21Â 112
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	0	0%	0
Release of reserves and provisions	FP	10Â 827	-84,4%	69Â 293	3873,2%	1Â 744
Other income	FQ	142	787,5%	16	-91,0%	178

Operating charges (II)

			31/12/2009		31/12/2006		31/12/2005
	Total operating charges (Total II)	GF	5Â 184Â 742	-40,8%	8Â 754Â 557	31,0%	6Â 682Â 581

Exploitation charges

		31/12/2009		31/12/2006		31/12/2005
Purchase of goods for resale	FS	4Â 852Â 562	-40,0%	8Â 082Â 138	47,8%	5Â 468Â 090
Change in stocks of goods for resale	FT	-337Â 007	-31,2%	-256Â 903	-175,0%	342Â 491
Purchase of raw materials	FU	0	0%	0	0%	78Â 684
Change in stocks of raw materials	FV	0	0%	0	0%	-2Â 828
Other external purchases and charges	FW	329Â 028	-38,8%	537Â 883	-9,1%	591Â 926
Tax, duty and similar payments	FX	29Â 611	25,6%	23Â 585	58,9%	14Â 845
Payroll	FY	138Â 534	-27,3%	190Â 570	64,8%	115Â 628
Social security costs	FZ	61Â 372	-31,2%	89Â 232	74,6%	51Â 106

Depreciation

		31/12/2009		31/12/2006		31/12/2005
Depreciation of fixed assets	GA	10Â 311	128,2%	4Â 518	-12,8%	5Â 183
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	83Â 298	415,4%	16Â 163
Provisions for risks and charges	GD	100Â 000	0%	0	0%	0

Other charges

			31/12/2009		31/12/2006		31/12/2005
	Other charges	GE	331	40,9%	235	-81,8%	1Â 292

Operating charges (III-IV)

		31/12/2009		31/12/2006		31/12/2005
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

		31/12/2009		31/12/2006		31/12/2005
Total financial income (Total V)	GP	123	-99,5%	25Â 038	95,4%	12Â 815
Share financial income	GJ	0	0%	0	0%	0
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	10	-100,0%	24Â 819	127,2%	10Â 923
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	113	-48,4%	219	-88,4%	1Â 892
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/12/2009		31/12/2006		31/12/2005
Total financial charge (Total VI)	GU	106Â 922	-10,9%	120Â 059	-0,6%	120Â 725
Financial reserves and provisions	GQ	0	0%	0	0%	40Â 678
Interest and similar charges	GR	68Â 785	-36,1%	107Â 614	35,2%	79Â 605
Exchange losses	GS	38Â 137	206,4%	12Â 445	2709,3%	443
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

		31/12/2009		31/12/2006		31/12/2005
Total extraordinary income (Total VII)	HD	169Â 871	831,5%	18Â 236	18,9%	15Â 338
Extraordinary operating income	HA	167Â 871	5087,6%	3Â 236	18,2%	2Â 738
Extraordinary income from capital transactions	HB	2Â 000	-86,7%	15Â 000	19,0%	12Â 600
Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

		31/12/2009		31/12/2006		31/12/2005
Total extraordinary charges (Total VIII)	HH	7Â 844	-65,1%	22Â 470	14,0%	19Â 703
Extraordinary operating charges	HE	6Â 844	-8,4%	7Â 470	-2,4%	7Â 654
Extraordinary charges from capital transactions	HF	1Â 000	-93,3%	15Â 000	24,5%	12Â 049
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

			31/12/2009		31/12/2006		31/12/2005
	Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

			31/12/2009		31/12/2006		31/12/2005
	Tax on profits (Total X)	HK	22Â 148	-54,9%	49Â 143	8,8%	45Â 185

References

		31/12/2009		31/12/2006		31/12/2005
Of which equipment leases	HP	0	0%	0	0%	1Â 956
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	10Â 827	-84,4%	69Â 293	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomer tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

		31/12/2009		31/12/2006		31/12/2005
Gross value at begin of period	OG	0	0%	515Â 583	132,3%	221Â 963
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	131Â 483	-70,1%	440Â 064
Decreasess by budget item transfer	OK1	0	0%	0	0%	133Â 289
Decreasess by transfers	OK2	13Â 692	-8,7%	15Â 000	14,0%	13Â 156
Gross value at the end of period	OL	95Â 703	-84,9%	632Â 065	22,6%	515Â 583

Research and development Charge (Total I)

		31/12/2009		31/12/2006		31/12/2005
Gross value at begin of period	CZ	0	0%	0	0%	0
Increasess due to revaluation	KB	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
Decreasess by budget item transfer	C01	0	0%	0	0%	0
Decreasess by transfers	C02	0	0%	0	0%	0
Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

		31/12/2009		31/12/2006		31/12/2005
Gross value at begin of period	KD	0	0%	0	0%	0
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	0	0%	0	0%	0
Gross value at the end of period	LW	0	0%	0	0%	0

Tangible fixed assets (Total III)

		31/12/2009		31/12/2006		31/12/2005
Gross value at begin of period	LN	68Â 270	273,1%	18Â 296	-11,5%	20Â 677
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	610	-70,5%	2Â 069	167,0%	775
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	12Â 692	0%	0	0%	3Â 156
Gross value at the end of period	NH	56Â 188	175,9%	20Â 365	11,3%	18Â 296

Fiancial assets (Total IV)

		31/12/2009		31/12/2006		31/12/2005
Gross value at begin of period	LQ	40Â 515	-91,9%	497Â 286	147,1%	201Â 286
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	0	0%	129Â 414	-70,5%	439Â 289
Decreasess by budget item transfer	NJ1	0	0%	0	0%	133Â 289
Decreasess by transfers	NJ2	1Â 000	-93,3%	15Â 000	50,0%	10Â 000
Gross value at the end of period	NK	39Â 515	-93,5%	611Â 700	23,0%	497Â 286

Reserve for depreciation
Situation and movement of reserve for depreciation
Grand total (I-II-III)

			31/12/2009		31/12/2006		31/12/2005
	Reserve for depreciation value at begin of period	0N	0	0%	10Â 157	67,1%	6Â 080
Increases		0P	0	0%	4Â 518	-12,8%	5Â 183
Decreasess		0Q	0	0%	0	0%	1Â 106
	Reserve for depreciation value at the end of period	0R	0	0%	14Â 675	44,5%	10Â 157

Research and development charge (Total I)

			31/12/2009		31/12/2006		31/12/2005
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2009		31/12/2006		31/12/2005
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amotisation (Total III)

			31/12/2009		31/12/2006		31/12/2005
	Reserve for depreciation value at begin of period	QU	29Â 419	189,6%	10Â 157	67,1%	6Â 080
Increases		QV	10Â 311	128,2%	4Â 518	-12,8%	5Â 183
Decreases		QW	12Â 692	0%	0	0%	1Â 106
	Decreasess by budget item transfer	QX	27Â 038	84,2%	14Â 675	44,5%	10Â 157

Movements during period affecting charge allocated over several period
Charges Ã rÃ©partir ou frais d'Ã©mission d'emprunt

			31/12/2009		31/12/2006		31/12/2005
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2009		31/12/2006		31/12/2005
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/12/2009		31/12/2006		31/12/2005
	Value at begining of period	7C	11Â 320	-95,5%	254Â 072	27,7%	198Â 974
Increases		UB	100Â 000	20,1%	83Â 298	46,5%	56Â 841
Decreases		UC	0	0%	0	0%	1Â 744
	Value at the end of period	UD	111Â 320	-67,0%	337Â 370	32,8%	254Â 072

Includes Total allocations

Operating	UE	100Â 000	20,1%	83Â 298	46,5%	56Â 841
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0%	0%	1Â 744
Financial	UH	0%	0%	0
Exceptional	UK	0%	0%	0

Total regulated provisions (Total I)

			31/12/2009		31/12/2006		31/12/2005
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2009		31/12/2006		31/12/2005
	Value at begining of period	5Z	0	0%	195Â 000	0%	195Â 000
Increases		TV	100Â 000	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	100Â 000	-48,7%	195Â 000	0%	195Â 000

Total Provision for depreciation (Total III)

			31/12/2009		31/12/2006		31/12/2005
	Value at begining of period	7B	11Â 320	-80,8%	59Â 072	1386,5%	3Â 974
Increases		TY	0	0%	83Â 298	46,5%	56Â 841
Decreases		TZ	0	0%	0	0%	1Â 744
	Value at the end of period	UA	11Â 320	-92,0%	142Â 370	141,0%	59Â 072

State deadlines claims and debts at the end of period
State claims

		31/12/2009		31/12/2006		31/12/2005
Gross value	VT	1Â 270Â 003	-7,3%	1Â 369Â 967	77,4%	772Â 315
1 year at most	VU	1Â 230Â 503	-1,0%	1Â 242Â 468	90,3%	652Â 815
More than one year	VV	39Â 500	-69,0%	127Â 500	6,7%	119Â 500

State of loans

		31/12/2009		31/12/2006		31/12/2005
Claims related to holdings (gross)	UL	0	0%	74Â 500	4,2%	71Â 500
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	39Â 500	-77,3%	173Â 899	266,1%	47Â 500
Loans (1 year at most)	UR	0	0%	121Â 399	0%	0
Other financial assets (gross)	UT	0	0%	500	0%	500
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2009		31/12/2006		31/12/2005
Customers doubtful or disputed	VA	12Â 251	-65,8%	35Â 863	13,8%	31Â 526
Other claims customer	UX	388Â 051	-6,2%	413Â 485	765,6%	47Â 766
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	19Â 000	0%	19Â 000	26,7%	15Â 000
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	7Â 120	-46,6%	13Â 324	30,2%	10Â 235
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	364Â 674	0%	0	0%	47Â 369
Accounts receivable (including claims relating to the operation of pension titles)	VR	439Â 408	44,2%	304Â 715	37,4%	221Â 713

Prepaid

			31/12/2009		31/12/2006		31/12/2005
	Prepaid	VS	0	0%	334Â 681	19,9%	279Â 205

State Debt

			31/12/2009		31/12/2006		31/12/2005
	Total debt (gross)	VY	1Â 534Â 725	-17,6%	1Â 861Â 950	45,5%	1Â 279Â 881
1 year at most		VZ2	1Â 527Â 346	-5,2%	1Â 611Â 950	25,9%	1Â 279Â 881
More than 1 year and 5 years at most		VZ3	7Â 379	-97,0%	250Â 000	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2009		31/12/2006		31/12/2005
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	8Â 805	-86,8%	66Â 700	66,1%	40Â 167
1 year at most		VG2	8Â 805	-86,8%	66Â 700	66,1%	40Â 167
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	22Â 245	0%	0	0%	0
1 year at most		VH2	14Â 866	0%	0	0%	19Â 065
More than 1 year and 5 years at most		VH3	7Â 379	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	1Â 217Â 760	-8,9%	1Â 336Â 723	63,1%	819Â 794
1 year at most		8B2	1Â 217Â 760	-8,9%	1Â 336Â 723	63,1%	819Â 794
More than 1 year and 5 years at most		8B3	1Â 217Â 760	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	26Â 097	-37,0%	41Â 423	117,3%	19Â 065
1 year at most		8C2	26Â 097	-37,0%	41Â 423	117,3%	19Â 065
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	30Â 690	-30,7%	44Â 291	75,0%	25Â 305
1 year at most		8D2	30Â 690	-30,7%	44Â 291	75,0%	25Â 305
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	22Â 148	378,8%	4Â 626	-85,6%	32Â 095
1 year at most		8E2	22Â 148	378,8%	4Â 626	-85,6%	32Â 095
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	181	-89,7%	1Â 763	-92,9%	24Â 919
1 year at most		VW2	181	-89,7%	1Â 763	-92,9%	24Â 919
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	11Â 422	-29,4%	16Â 174	41,8%	11Â 408
1 year at most		VQ2	11Â 422	-29,4%	16Â 174	41,8%	11Â 408
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	190Â 470	-23,8%	250Â 000	0%	0
1 year at most		VI2	190Â 470	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	250Â 000	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	4Â 907	-95,1%	100Â 251	1275,4%	7Â 289
1 year at most		8K2	4Â 907	-95,1%	100Â 251	1275,4%	7Â 289
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	299Â 840
1 year at most		8L2	0	0%	0	0%	299Â 840
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2009		31/12/2006		31/12/2005
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	13Â 756	0%	0	0%	7Â 482

Table allocation results and other information
Dividends distributed

			31/12/2009		31/12/2006		31/12/2005
	Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2009		31/12/2006		31/12/2005
Commitments leasing furniture	YQ	0	0%	0	0%	7Â 606
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2009		31/12/2006		31/12/2005
Subcontracting	YT	0	0%	0	0%	75Â 612
Rentals, rental charges and condominiums	XQ	17Â 523	130,6%	7Â 598	55,0%	4Â 903
Staff outside the company	YU	7Â 623	76,8%	4Â 311	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	45Â 299	-56,6%	104Â 449	-27,9%	144Â 778
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	258Â 584	-38,7%	421Â 525	15,0%	366Â 633
Total Other purchases and external	ZJ	329Â 029	1295,1%	537Â 883	-9,1%	591Â 926

Taxes and Fees

		31/12/2009		31/12/2006		31/12/2005
Business tax	YW	11Â 489	545,1%	1Â 781	33,6%	1Â 333
Other taxes and payments assimilated	9Z	18Â 122	-16,9%	21Â 804	61,4%	13Â 512
Total taxes and fees	YX	29Â 611	25,6%	23Â 585	58,9%	14Â 845

VAT

		31/12/2009		31/12/2006		31/12/2005
Amount VAT collected	YY	300Â 650	-52,4%	631Â 056	26,1%	500Â 532
Total VAT on goods and services	YZ	295Â 990	-42,9%	518Â 217	54,4%	335Â 629

Average number of employees

			31/12/2009		31/12/2006		31/12/2005
	Average number of employees	YP	03	-40,0%	05	25,0%	04

Groups and Shareholders

			31/12/2009		31/12/2006		31/12/2005
	Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

	31/12/2009		31/12/2006		31/12/2005	Sector Median 2009
Fixed Asset Financing	7,02	461,6%	1,25	47,1%	0,85	2,54	176,4%
Global Debt	106 days	41,3%	75 days	13,6%	66 days	75 days	41,3%
Working Capital Fund overall net	40 days	566,7%	6 days	250,0%	-4 days	31 days	29,0%
Financial independence	1068,82%	147,8%	431,31%	-10,8%	483,38%	460,17%	132,3%

Solvability	16,88%	37,6%	12,27%	5,5%	11,63%	29,84%	-43,4%
Capacity debt futures	1402,01%	225,1%	431,31%	31,6%	327,80%	894,20%	56,8%
Coverage of current assets by net working capital overall	30,16%	196,9%	10,16%	226,8%	-8,01%	31,86%	-5,3%
General Liquidity	0,81	5,2%	0,77	51,0%	0,51	0,82	-1,2%
Restricted Liquidity	0,88	14,3%	0,77	35,1%	0,57	1,03	-14,6%

Management or rotation

	31/12/2009		31/12/2006		31/12/2005	Sector Median 2009
Need background in operating working capital	32 days	740,0%	-5 days	0%	-5 days	19 days	68,4%
Treasury	7 days	333,3%	-3 days	-250,0%	2 days	7 days	0%
Inventory turnover of goods	45 days	0%	0 days	0%	6 days	28 days	60,7%
Average length of credit granted to customers	26 days	52,9%	17 days	325,0%	4 days	44 days	-40,9%
Average length of credit obtained suppliers	85 days	57,4%	54 days	25,6%	43 days	48 days	77,1%

Inventory turnover of raw materials in industrial enterprises	days	-	724 days	5469,2%	13 days	0 days	-
Inventory turnover of intermediate and finished products in the industrial enterprise	days	-	days	-	38066 days	2445 days	-
Rotation tangible assets	9314,16%	-78,8%	43835,86%	15,2%	38066,25%	3045,61%	205,8%

Profitability of the business

	31/12/2009		31/12/2006		31/12/2005	Sector Median 2009
Margin trading	11,05%	-9,9%	12,27%	-5,0%	12,92	20,33%	-45,6%
Profitability of the business	3,04	4,1%	2,92	-28,3%	4,07	2,88%	5,6%
Net profit	1,77%	68,6%	1,05%	-30,5%	1,51%	1,46%	21,2%

Growth rate of turnover (excluding VAT)	-41,38%	-246,8%	28,18%	-27,9%	39,09%	0,74%	-5691,9%
Rates integration	7,43%	17,6%	6,32%	-5,4%	6,68%	12,43%	-40,2%
Rate leasing furniture	0%	0%	0%	0%	0,03%	0%	0%
Work Factor	51,41%	3,6%	49,61%	38,4%	35,85%	60,90%	-15,6%
Weight interests	2,04	52,2%	1,34%	-22,5%	1,73%	0,16%	1175,0%

Return on capital

	31/12/2009		31/12/2006		31/12/2005	Sector Median 2009
Cash flow from the overall profitability	1,95%	77,3%	1,10%	-48,6%	2,14%	1,75%	11,4%
Rates of economic profitability	29%	-32,6%	43%	-64,5%	121%	19,24%	50,7%
Financial profitability	331870%	15,4%	287687%	48,2%	194160%	467140%	-29,0%
Return on investment	36,08%	2,1%	35,34%	-63,4%	96,49%	13,53%	166,7%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

	31/12/2009		31/12/2006		31/12/2005	Sector Median 2009
Turnover	5Â 233Â 439	-41,4%	8Â 927Â 173	28,2%	6Â 964Â 601	5Â 694Â 179 €	-8,1%

Sales of goods	5Â 094Â 043	-42,9%	8Â 920Â 474	32,9%	6Â 710Â 069
- Purchase of goods	4Â 852Â 562	-40,0%	8Â 082Â 138	47,8%	5Â 468Â 090
+/- Stock of goods variation	-337Â 007	-31,2%	-256Â 903	-175,0%	342Â 491
Trading margin	578Â 488 €	-47,2%	1Â 095Â 239 €	21,8%	899Â 488 €	901Â 000 €	-35,8%
	11,05 % CA	-9,9%	12,27 % CA	-5,0%	12,92 % CA	20,35 % CA	-45,7%

Sale of goods produced	139Â 396	1980,8%	6Â 699	-97,4%	254Â 533
+/- Stocked production	0	0%	0	0%	-21Â 112
+ Self-constructed assets	0	0%	0	0%	0
Period production	139Â 396 €	1980,8%	6Â 699 €	-97,1%	233Â 421 €	13Â 343 €	944,7%
	2,66 % CA	3225,0%	0,08 % CA	-97,6%	3,35 % CA	0,33 % CA	706,1%

Trading margin	578Â 488	-47,2%	1Â 095Â 239	21,8%	899Â 488	901Â 000	-35,8%
+ Period Production	139Â 396	1980,8%	6Â 699	-97,1%	233Â 421	13Â 343	944,7%
- Purchase of raw materials	0	0%	0	0%	78Â 684
+/- Change in stocks of raw materiels	0	0%	0	0%	-2Â 828
- Other external purchases and charges	329Â 028	-38,8%	537Â 883	-9,1%	591Â 926
Added value	388Â 856 €	-31,1%	564Â 055 €	21,3%	465Â 127 €	568Â 882 €	-31,6%
	7,43 % CA	17,6%	6,32 % CA	-5,4%	6,68 % CA	12,43 % CA	-40,2%

Added value	388Â 856 €	-31,1%	564Â 055 €	21,3%	465Â 127 €	568Â 882 €	-31,6%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	29Â 611	25,6%	23Â 585	58,9%	14Â 845
- Personal charges	199Â 906	-28,6%	279Â 802	67,8%	166Â 734
Gross operating surplus	159Â 339 €	-38,9%	260Â 668 €	-8,1%	283Â 548 €	105Â 663 €	50,8%
	3,04 % CA	4,1%	2,92 % CA	-28,3%	4,07 % CA	2,88 % CA	5,6%

Gross operating surplus	159Â 339 €	-38,9%	260Â 668 €	-8,1%	283Â 548 €	105Â 663 €	50,8%
+ Release of reserves and provisions	10Â 827	-84,4%	69Â 293	3873,2%	1Â 744
+ Other operating income	142	787,5%	16	-91,0%	178
- Depreciation/Amortisation	110Â 311	25,6%	87Â 816	311,4%	21Â 346
- Other charges	331	40,9%	235	-81,8%	1Â 292
Operating result	59Â 666 €	-75,3%	241Â 926 €	-8,0%	262Â 832 €	84Â 271 €	-29,2%
	1,14 % CA	-57,9%	2,71 % CA	-28,1%	3,77 % CA	2,32 % CA	-50,9%

Operating result	59Â 666 €	-75,3%	241Â 926 €	-8,0%	262Â 832 €	84Â 271 €	-29,2%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	123	-99,5%	25Â 038	95,4%	12Â 815
- Financial charges	106Â 922	-10,9%	120Â 059	-0,6%	120Â 725
Pre-tax result	-47Â 133 €	-132,1%	146Â 905 €	-5,2%	154Â 922 €	73Â 930 €	-163,8%
	-0,90 % CA	-154,5%	1,65 % CA	-25,7%	2,22 % CA	2,02 % CA	-144,6%

Extraordinary income	169Â 871	831,5%	18Â 236	18,9%	15Â 338	4Â 763	3466,5%
- Extraordinary charges	7Â 844	-65,1%	22Â 470	14,0%	19Â 703
Extraordinary result	162Â 027 €	3926,8%	-4Â 234 €	3,0%	-4Â 365 €	0 €	0%
	3,10 % CA	6300%	-0,05 % CA	16,7%	0 % CA	0 % CA	0%

Pre-tax result	-47Â 133 €	-132,1%	146Â 905 €	-5,2%	154Â 922 €	73Â 930 €	-163,8%
Extraordinary result	162Â 027 €	3926,8%	-4Â 234 €	3,0%	-4Â 365 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	22Â 148	-54,9%	49Â 143	8,8%	45Â 185
Net result	92Â 746 €	-0,8%	93Â 528 €	-11,2%	105Â 372 €	55Â 215 €	68,0%
	1,77 % CA	68,6%	1,05 % CA	-30,5%	1,51 % CA	1,46 % CA	21,2%

judgements

Collective procedures

No judgment information for the company

Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Summary of preferential rights

Company monitored since	03/10/2008
Status of Monitoring	No social security and tax office preferential right to date

Group data

This company is not identified as one of the biggest french chip.

Linkages

This company is not identified as one of the biggest french chip.

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
03/01/2011	Bodacc C	Comptes annuels et rapports

29 - FINISTERE GREFFE DU TRIBUNAL DE COMMERCE DE QUIMPER 3862 - 440702736 RCS. KERES TRADING. Forme : SociÃ©tÃ© Ã responsabilitÃ© limitÃ©e. Adresse : 35bis avenue de la Gare 29000 Quimper. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
07/12/2008	Bodacc B	Modification et mutation diverse

29 - FINISTERE GREFFE DU TRIBUNAL DE COMMERCE DE QUIMPER 697 - 440 702 736 RCS Quimper. KERES TRADING. Forme : SociÃ©tÃ© Ã responsabilitÃ© limitÃ©e. Adresse de lâ€™Ã©tablissement principal : 35bis avenue de la Gare, 29000 Quimper. Adresse du siÃ¨ge social : 35bis avenue de la Gare, 29000 Quimper. Commentaires : Transfert de l'Ã©tablissement principal, transfert du siÃ¨ge social.
01/12/2007	Bodacc C	Avis de dÃ©pÃ´t des comptes

4939 - 440 702 736. RCS Quimper KERES TRADING. Forme: SociÃ©tÃ© Ã responsabilitÃ© limitÃ©e. Adresse du siÃ¨ge social: Z I. de Kerdroniou - rue Marcel Paul, 29000 Quimper. Comptes annuels et rapports de l'exercice clos le: 31 dÃ©cembre 2006.
10/12/2006	Bodacc B	Modifications et mutations diverses

0485 - RCS Quimper B 440 702 736. RC 02-B 50. KERES TRADING. Forme : S.A.R.L. Adresse du siÃ¨ge social : Z.I. de Kerdroniou, rue Marcel-Paul,, 29000 Commentaires : modification survenue sur l'administration. Administration : gÃ©rant : KERDILES (Guillaume) (Nom d'usage : KERDILES). Commissaire aux comptes titulaire : CABINET PICAVET LE DAIN. Commissaire aux comptes supplÃ©ant : LE DAIN (Patrick) (Nom d'usage : LE DAIN). Date d'effet : 9 octobre 2006.
24/11/2006	Bodacc C	Avis de dÃ©pÃ´t des comptes

3703 - RCS Quimper B 440 702 736. RC 02-B 50. KERES TRADING. Forme: S.A.R.L.. Adresse du siÃ¨ge social: Z I de Kerdroniou - rue Marcel Paul,29000 Quimper. Comptes annuels et rapports de l'exercice clos le: 31 dÃ©cembre 2005.
23/11/2006	Bodacc B	Modifications et mutations diverses

0712 - RCS Quimper B 440 702 736. RC 02-B 50. KERES TRADING. Forme : S.A.R.L. Capital : 150 000 euros. Adresse du siÃ¨ge social : Z.I. de Kerdroniou, rue Marcel-Paul,, 29000 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 2 octobre 2006.
29/10/2005	Bodacc C	Avis de dÃ©pÃ´t des comptes

1954 - RCS Quimper B 440 702 736. RC 02-B 50. KERES TRADING. Forme: S.A.R.L.. Adresse du siÃ¨ge social: Z I de Kerdroniou - rue Marcel Paul,29000 Quimper. Comptes annuels et rapports de l'exercice clos le: 31 dÃ©cembre 2004.
06/09/2005	Bodacc B	Modifications et mutations diverses

413 - RCS Quimper B 440 702 736. RC 02-B 50. KERES TRADING. Forme : S.A.R.L. Capital : 80 000 euros. Adresse du siÃ¨ge social : Z.I. de Kerdroniou, rue Marcel-Paul,, 29000 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 12 juillet 2005.
26/09/2003	Bodacc B	Modifications et mutations diverses

RCS Quimper B 440702736 RC 02-B 50 KERES TRADING. Forme : S.A.R.L. Capital : 8 000 euros. Adresse du siÃ¨ge social : Z.I. de Kerdroniou, rue Marcel-Paul, 29000 Quimper. Commentaires : modification survenue sur l'administration. Administration : gÃ©rant : KERDILES ( Guillaume) ( Nom d'usage : KERDILES). Date d'effet : 1 e r aout 2003.
27/08/2002	Bodacc B	Modifications et mutations diverses

RCS Quimper B 440702736 RC 02-B 50 KERES TRADING. Forme : S.A.R.L. Capital : 8 000 euros. Adresse du siÃ¨ge social : Z.I. de Kerdroniou, rue Marcel-Paul, 29000 Quimper. Commentaires : modification survenue sur l'adresse du siÃ¨ge social et l'adresse de l'Ã©tablissement principal Etablissement principal: Adresse : Z.I. de Kerdroniou, rue Marcel- Paul, 29000 Quimper. Date d'effet : 17 juin 2002.
24/02/2002	Bodacc A	CrÃ©ation d'Ã©tablissement

RCS Quimper B 440702736 RC 02-B 50 KERES TRADING. Forme : S.A.R.L. Capital : 8 000 euros. Adresse du siÃ¨ge social : Z.A. Les Pins, 29910 TrÃ©gunc. Administration : gÃ©rant : GUYOMARC'H (FranÃ§oise) ( Nom d' usage : GUYOMARC'H) Cette sociÃ©tÃ© se constitue Etablissement principal: ActivitÃ© : commercialisation de crevettes, plus gÃ©nÃ©ralement de tous produits de la mer nÃ©goce national et international de tous produits de la mer. Adresse : Z.A. Les Pins, 29910 TrÃ©gunc Date de dÃ©but d'activitÃ©: 1 e r janvier 2002.

Company events history

Date	Description
03/01/2011	Bodacc C : Deposit accounts notice
31/12/2009	Modification of Company Activity
31/12/2009	New accounts available
31/12/2009	Update of Company Activity
07/12/2008	New Bodacc B ads detected
07/12/2008	Bodacc B: Various editing or changing
21/11/2008	Registered office transferred inside jurisdiction of the Commercial Court
21/11/2008	Private document
21/11/2008	Updated articles of association
21/11/2008	Minutes of general meeting of shareholders
03/10/2008	Collection of preferential rights activated for this company
19/05/2008	Transfer of Establishment
19/05/2008	Update of Company Head Office Identifier
31/12/2006	New accounts available
20/11/2006	Private document
20/11/2006	Appointment/resignation of company officers
20/11/2006	Minutes of general meeting of shareholders
02/11/2006	Minutes of general meeting of shareholders
02/11/2006	Private document
02/11/2006	Capital increase
02/11/2006	Updated articles of association
31/12/2005	New accounts available
18/08/2005	Private document
18/08/2005	Augmentation de Capital
18/08/2005	Capital increase
18/08/2005	Acte sous seing privÃ©
18/08/2005	Minutes of general meeting of shareholders
18/08/2005	PV d'AssemblÃ©e
18/08/2005	Statuts mis Ã jour
18/08/2005	Updated articles of association
07/02/2005	Acte sous seing privÃ©
07/02/2005	Private document
07/02/2005	Cession de parts
07/02/2005	Sale of shares
07/02/2005	Statuts mis Ã jour
07/02/2005	Updated articles of association
31/12/2004	New accounts available
31/12/2003	New accounts available
14/11/2003	Acte sous seing privÃ©
14/11/2003	Cession de parts
14/11/2003	Statuts mis Ã jour
11/09/2003	Changement de GÃ©rant
11/09/2003	Acte sous seing privÃ©
11/09/2003	Nomination/dÃ©mission des organes de gestion
11/09/2003	PV d'AssemblÃ©e
11/09/2003	Statuts mis Ã jour
05/07/2002	Acte sous seing privÃ©
05/07/2002	PV d'AssemblÃ©e
05/07/2002	Statuts mis Ã jour
05/07/2002	Transfert du SiÃ¨ge dans le ressort du Tribunal de Commerce
31/01/2002	Statuts
31/01/2002	Acte sous seing privÃ©
31/01/2002	Certificat de dÃ©pÃ´t des fonds
31/01/2002	Formation de SociÃ©tÃ©

Establishment events history

Date	Description
11/03/2012	Update Rating
01/02/2012	Update of phone numbers
04/10/2011	Update Limit
04/10/2011	Update Rating
24/12/2010	Update Limit
24/12/2010	Update Rating
13/12/2010	Update Rating
13/12/2010	Update Limit
04/01/2010	Update Limit
31/12/2009	Update of Establishment Activity
31/12/2009	Modification of Head office Activity
30/12/2009	Update Rating
19/05/2008	Formation of Head office (after transfer)

directors

Name	M. KERDILES GUILLAUME
Manager position	GÃ©rant	Date of birth	11/01/1970
Place of birth	QUIMPER
Type of manager	Individual	Name at birth of manager

Previous Directors

Manager position

Title and name

Date of Birth/Place of Birth

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.42
UK Pound	1	Rs.88.45
Euro	1	Rs.71.52

INFORMATION DETAILS

Report Prepared by :

PRL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

Company Name

company summary

company details

accounts

judgements

directors

Unit