MIRA INFORM REPORT

Report Date :

09.03.2012

IDENTIFICATION DETAILS

Name :	EMA NEGOCE
Registered Office :	8 Rue Des Reservoirs 78000 Versailles
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	July 2006
Com. Reg. No.:	RCS Versailles 0 490 995 446
Legal Form :	Limited Liability Company
Line of Business :	Agents specialized in the trade of other commodities
No. of Employees :	2

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	135,000 €
Status :	Good
Payment Behaviour :	No Complaints
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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
France	A1	A1

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

REGISTERED NAME & COMPANY SUMMARY

Name

EMA NEGOCE

SIRET

490 995 446 00039

company summary

Activity (APE)	Agents specialized in the trade of other commodities (4618Z)	Legal form	Limited Liability Company
Phone	01 39 50 99 71	RCS Registration	RCS Versailles 0 490 995 446
Fax		Share capital	133,200 Euros
Address	EMA NEGOCE 8 RUE DES RESERVOIRS 78000 VERSAILLES	Incorporated Date	07/2006
Nationality	France	Status	Economically active

Company details

Activity (APE)	Intermédiaires spécialisés dans le commerce d'autres produits spécifiques (4618Z)
RCS Registration	RCS Versailles 0 490 995 446	Share capital	133,200 Euros
Registration Court	Versailles (78)	Legal form	Limited Liability Company
Court Registry Number	20 0 9B037	EU VAT Number	FR28490995446
Incorporation Date	07/2006	Formation Date	07/2006
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Activity (APE)	Intermédiaires spécialisés dans le commerce d'autres produits spécifiques (4618Z)	Business Pages FT®
Postal Address	EMA NEGOCE 8 RUE DES RESERVOIRS 78000 VERSAILLES	Trading Address	8 RUE DES RESERVOIRS 78000 VERSAILLES
Telephone	01 39 50 99 71
Fax

Type	Head office	Status	Economically active
Formation Date	10/2009	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department		Region	Ile-de-France
District		Area
City	VERSAILLES	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> EMA NEGOCE <<<  - Intermédiaires spécialisés dans le commerce d'autres produits spécifiques (4618Z)  in VERSAILLES  (78000)
Secondary establishments	>  EMA NEGOCE  - Intermédiaires spécialisés dans le commerce d'autres produits spécifiques (4618Z)  in SAINT CLOUD  (92210) >  EMA NEGOCE  - Intermédiaires spécialisés dans le commerce d'autres produits spécifiques (4618Z)  in SURESNES  (92150)

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

CREDIT RECOMENDATION

Current Credit Limit: 135,000 €

DIRECTORS/MANAGEMENT

Current Directors

2

Trading to Date	12/31/2010	12/31/2009	12/31/2008
Turnover	6,035,967 €	7,032,911 €	3,608,336 €
Gross Operating Surplus	4,04 % Turnover	4,17 % Turnover	5,88 % Turnover
Net worth	635,897 €	484,512 €	237,917 €
Employees	1 or 2 employees	-	-

directors

Name	M. LEGRAND JEAN-DAMIEN
Manager position	Gérant	Date of birth	16/02/1976
Place of birth	PARIS
Type of manager	Individual	Name at birth of manager

Name	M. MAUVISSEAU BERTRAND
Manager position	Co-gérant	Date of birth	17/11/1971
Place of birth	PARIS
Type of manager	Individual	Name at birth of manager

Previous Directors

Vous pouvez consulter ici l'historique des dirigeants de l'entreprise.
Si vous souhaitez consulter l'historique d'un dirigeant, il vous suffit de cliquer sur le lien voir le détail pour y accéder.

Manager position	Title and name	Date of Birth/Place of Birth
Gérant	M JEAN-DAMIEN LEGRAND
Gérant	M JEAN-DAMIEN LEGRAND

NEGATIVE INFORMATION

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

Na

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

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

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010	31/12/2009	31/12/2008
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	09/08/2011	09/07/2010	16/09/2009
Activity Code	4618Z	4618Z	4618Z
Employees	2	2	0

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	9 940	38,4%	7 180	79,7%	3 995	8 519	16,7%
- Intangible assets	3 171	0%	0	0%	0	0	0%
- Tangible assets	1 769	-18,9%	2 180	-15,7%	2 587	1 978	-10,6%
- Financial assets	5 000	0%	5 000	255,1%	1 408	100	4900%
Net current assets	1 853 939	1,5%	1 825 983	18,7%	1 538 382	110 482	1578,0%
- Stocks	135 086	103,4%	66 426	-24,6%	88 090	0	0%
- Advanced payments	0	1,5%	0	0%	0	0	0%
- Receivables	1 429 422	-9,0%	1 570 472	15,5%	1 359 180	44 978	3078,0%
- Securities and cash	289 431	53,1%	189 085	107,5%	91 112	24 137	1099,1%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	5 352	33,6%	4 005	-84,2%	25 403	0	0%
Total Assets	1 869 231	1,7%	1 837 168	17,2%	1 567 781	144 449	1194,0%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Shareholders' equity	635 897	31,2%	484 512	103,6%	237 917	45 737	1290,3%
Share capital	116 600	0%	116 600	16,6%	100 000	8 000	1357,5%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	2 724	0%	0	0%	0	0	0%
Liabilities	1 227 981	-8,8%	1 346 064	3,9%	1 295 336	73 278	1575,8%
- Financial liabilities	78 943	145,5%	32 154	-64,3%	90 160	5 407	1360,0%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	1 000 840	-14,4%	1 169 571	24,0%	943 577	12 622	7829,3%
- Tax and social liabilities	58 130	-14,7%	68 141	31,7%	51 735	23 500	147,4%
- Other debts and fixed assets liabilities	92 696	12,0%	82 790	-66,1%	244 391	3 731	2384,5%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	1 869 231	1,7%	1 837 168	17,2%	1 567 781	144 917	1189,9%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Sales of Goods	6 039 328	-14,1%	7 033 199	94,9%	3 608 466	195 552	2988,3%
Net turnover	6 035 967	-14,2%	7 032 911	94,9%	3 608 336	190 590	3067,0%
- of which net export turnover	5 048 545	-19,5%	6 272 179	76,0%	3 563 656	0	0%
Operating charges	5 834 527	-13,5%	6 741 543	98,4%	3 398 595	181 045	3122,7%
Operating profit/loss	204 801	-29,8%	291 656	39,0%	209 871	8 241	2385,1%
Financial income	71 695	1,9%	70 370	1,5%	69 363	0	0%
Financial charges	74 633	-2,0%	76 163	-4,3%	79 599	213	34939,0%
Financial profit/loss	-2 938	49,3%	-5 793	43,4%	-10 236	-06	-48866,7%
Pretax net operating income	201 863	-29,4%	285 863	43,2%	199 635	7 868	2465,6%
Extraordinary income	0	0%	0	0%	0	0	0%
Extraordinary charges	3 619	1804,7%	190	442,9%	35	40	8947,5%
Extraordinary profit/loss	-3 619	78107,9%	-190	-442,9%	-35	0	0%
Net result	148 215	-28,3%	206 594	50,2%	137 565	7 613	1846,9%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2010	31/12/2009	31/12/2008
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Grand Total (I to VI)	Net	1 869 231	1,7%	1 837 168	17,2%	1 567 781
	Gross	CO	1 914 353	4,0%	1 840 464	17,3%	1 569 464
	Amortisation	1A	45 122	1269,0%	3 296	95,8%	1 683

Non declared distributed capital (I)

		31/12/2010		31/12/2009		31/12/2008
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/12/2010		31/12/2009		31/12/2008
	Total Active fixed asset (II)	Net	9 940	38,4%	7 180	79,7%	3 995
	Gross	BJ	16 208	54,7%	10 476	84,5%	5 678
	Amortisation	BK	6 268	90,2%	3 296	95,8%	1 683

Intangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	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	3 171	0%	0	0%	0
	Gross	AF	4 755	0%	0	0%	0
	Amortisation	AG	1 584	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	3 171	0%	0	0%	0

Tangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	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%	0	0%	0
	Gross	AR	0	0%	0	0%	0
	Amortisation	AS	0	0%	0	0%	0
	Other tangible fixed assets	Net	1 769	-18,9%	2 180	-15,7%	2 587
	Gross	AT	6 453	17,8%	5 476	28,2%	4 270
	Amortisation	AU	4 684	42,1%	3 296	95,8%	1 683
	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	1 769		2 180		2 587

Financial assets

			31/12/2010		31/12/2009		31/12/2008
	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%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	5 000	0%	5 000	255,1%	1 408
	Gross	BH	5 000	0%	5 000	255,1%	1 408
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		5 000		5 000		1 408

Current Assets (III)

			31/12/2010		31/12/2009		31/12/2008
	Total Assets	Net	1 853 939	1,5%	1 825 983	18,7%	1 538 382
	Gross	CJ	1 892 791	3,7%	1 825 983	18,7%	1 538 382
	Amortisation	CK	38 852	0%	0	0%	0

Stocks

			31/12/2010		31/12/2009		31/12/2008
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	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	135 086	103,4%	66 426	-24,6%	88 090
	Gross	BT	135 086	103,4%	66 426	-24,6%	88 090
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	135 086	103,4%	66 426	-24,6%	88 090

Advance payments to suppliers

			31/12/2010		31/12/2009		31/12/2008
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2010		31/12/2009		31/12/2008
	Trade accounts receivable	Net	1 364 390	-12,2%	1 553 297	16,9%	1 328 604
	Gross	BX	1 403 242	-9,7%	1 553 297	16,9%	1 328 604
	Amortisation	BY	38 852	0%	0	0%	0
	Other debtors	Net	64 905	442,0%	11 975	-60,8%	30 576
	Gross	BZ	64 905	442,0%	11 975	-60,8%	30 576
	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	1 429 295	-8,7%	1 565 272	15,2%	1 359 180

Divers

			31/12/2010		31/12/2009		31/12/2008
	Investment securities	Net	78 778	43,8%	54 778	30,0%	42 140
	Gross	CD	78 778	43,8%	54 778	30,0%	42 140
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	210 653	56,8%	134 307	174,3%	48 972
	Gross	CF	210 653	56,8%	134 307	174,3%	48 972
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	289 431	53,1%	189 085	107,5%	91 112

Prepaid expenses

			31/12/2010		31/12/2009		31/12/2008
	Prepaid expenses	Net	127	-97,6%	5 200	0%	0
	Gross	CH	127	-97,6%	5 200	0%	0
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2009		31/12/2008
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	5 352	33,6%	4 005	-84,2%	25 403
Gross		5 352	33,6%	4 005	-84,2%	25 403

References

		31/12/2010		31/12/2009		31/12/2008
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		31/12/2010		31/12/2009		31/12/2008
Grand Total (I to V)	EE	1 869 231	1,7%	1 837 168	17,2%	1 567 781

Shareholder Equity (I)

			31/12/2010		31/12/2009		31/12/2008
	Total shareholders' equity (Total I)	DL	635 897	31,2%	484 512	103,6%	237 917
	Equity and shareholders' equity	DA	116 600	0%	116 600	16,6%	100 000
	Issue and merger premiums	DB	23 400	0%	23 400	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	11 660	16,6%	10 000	2724,9%	354
	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	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	332 852	160,2%	127 918	0%	0
	Profit or loss for the period	DI	148 215	-28,3%	206 594	50,2%	137 563
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	3 170	0%	0	0%	0

Other capital resources (II)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Total provisions for risks and charges (Total III)	DR	2 724	0%	0	0%	0
	Risk provisions	DP	2 724	0%	0	0%	0
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2010		31/12/2009		31/12/2008
	Total Liabilities (Total IV)	EC	1 227 981	-8,8%	1 346 064	3,9%	1 295 336
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	78 943	145,5%	32 154	-64,3%	90 160
	Sundry loans and financial liabilities	DV	0	0%	0	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	1 000 840	-14,4%	1 169 571	24,0%	943 577
	Tax and social security liabilities	DY	58 130	-14,7%	68 141	31,7%	51 735
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	90 067	18,2%	76 198	-63,7%	209 864

Translation loss (V)

		31/12/2010		31/12/2009		31/12/2008
Translation loss (Total V)	ED	2 629	-60,1%	6 592	-80,9%	34 527

Equalization accounts

		31/12/2010		31/12/2009		31/12/2008
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	1 227 981	-8,8%	1 346 064	3,9%	1 295 336
Of which current bank facilities	EH	78 651	144,6%	32 154	-64,3%	90 160

Display parameter
Currency	Euro	Kilo Euro

Result account
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References

1- Operating result (I-II)

		31/12/2010		31/12/2009		31/12/2008
Operating result (Total I-II)	GG	204 801	-29,8%	291 656	39,0%	209 871

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	-2 938	49,3%	-5 793	43,4%	-10 236

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

		31/12/2010		31/12/2009		31/12/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	201 863	-29,4%	285 863	43,2%	199 635

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	-3 619	-1804,7%	-190	-442,9%	-35

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	148 215	-28,3%	206 594	50,2%	137 565

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	6 111 023	-14,0%	7 103 569	93,1%	3 677 829

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

		31/12/2010		31/12/2009		31/12/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	5 962 805	-13,5%	6 896 973	94,8%	3 540 264

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income (Total I)	FR	6 039 328	-14,1%	7 033 199	94,9%	3 608 466

Operating income (details)

			31/12/2010		31/12/2009		31/12/2008
	Sale of goods for resale	FC	6 029 475	-14,2%	7 028 561	95,0%	3 604 243
	France	FA	980 930	29,7%	756 382	1763,6%	40 587
	Export	FB	5 048 545	-19,5%	6 272 179	76,0%	3 563 656
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	6 492	49,2%	4 350	6,3%	4 093
	France	FG	6 492	49,2%	4 350	6,3%	4 093
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	6 035 967	-14,2%	7 032 911	94,9%	3 608 336
	France	FJ	987 422	29,8%	760 732	1602,6%	44 680
	Export	FK	5 048 545	-19,5%	6 272 179	76,0%	3 563 656
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	3 163	0%	0	0%	0
	Other income	FQ	198	-31,2%	288	121,5%	130

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	5 834 527	-13,5%	6 741 543	98,4%	3 398 595

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	5 447 517	-13,9%	6 325 844	91,9%	3 295 907
Change in stocks of goods for resale	FT	-68 660	-416,9%	21 664	124,6%	-88 090
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	204 276	5,9%	192 969	64,7%	117 137
Tax, duty and similar payments	FX	6 317	81,0%	3 491	8,6%	3 216
Payroll	FY	167 007	-1,4%	169 383	164,3%	64 095
Social security costs	FZ	35 703	36,9%	26 084	583,7%	3 815

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	2 973	84,3%	1 613	39,1%	1 160
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	38 852	0%	0	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	542	9,5%	495	-63,5%	1 355

Operating charges (III-IV)

		31/12/2010		31/12/2009		31/12/2008
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)

			31/12/2010		31/12/2009		31/12/2008
	Total financial income (Total V)	GP	71 695	1,9%	70 370	1,5%	69 363
	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	0	0%	51	-91,1%	570
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	71 617	1,8%	70 319	2,2%	68 793
	Net income from disposal of investment securities	GO	78	0%	0	0%	0

Financial Charge (VI)

			31/12/2010		31b/12/2009		31/12/2008
	Total financial charge (Total VI)	GU	74 633	-2,0%	76 163	-4,3%	79 599
	Financial reserves and provisions	GQ	2 724	0%	0	0%	0
	Interest and similar charges	GR	6 942	82,8%	3 798	5,6%	3 597
	Exchange losses	GS	64 967	-10,2%	72 365	-4,8%	76 002
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary income (Total VII)	HD	0	0%	0	0%	0
	Extraordinary operating income	HA	0	0%	0	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary charges (Total VIII)	HH	3 619	1804,7%	190	442,9%	35
	Extraordinary operating charges	HE	449	136,3%	190	442,9%	35
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	3 170	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2010		31/12/2009		31/12/2008
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2010		31/12/2009		31/12/2008
Tax on profits (Total X)	HK	50 026	-36,7%	79 077	27,5%	62 035

References

		31/12/2010		31/12/2009		31/12/2008
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	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)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	OG	0	0%	0	0%	0
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	0
	Gross value at the end of period	OL	16 208	54,7%	10 476	84,5%	5 678

Research and development Charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	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	4 755	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	4 755	0%	0	0%	0

Tangible fixed assets (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LN	5 476	28,2%	4 270	39,4%	3 064
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	977	-19,0%	1 206	0,1%	1 205
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	6 453	17,8%	5 476	28,3%	4 269

Fiancial assets (Total IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LQ	5 000	255,1%	1 408	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	3 592	155,1%	1 408
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	5 000	0%	5 000	255,1%	1 408

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

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	1 585	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	1 585	0%	0	0%	0

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	3 296	95,8%	1 683	222,4%	522
Increases		QV	1 388	-13,9%	1 613	38,9%	1 161
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	4 684	42,1%	3 296	95,8%	1 683

Movements during period affecting charge allocated over several period
Charges à répartir ou frais d'émission d'emprunt

			31/12/2010		31/12/2009		31/12/2008
	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

			31/12/2010		31/12/2009		31/12/2008
	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)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7C	0	0%	0	0%	0
Increases		UB	44 746	0%	0	0%	0
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	44 746	0%	0	0%	0

Includes Total allocations

Operating	UE	38 852	0%	0	0%	0
Financial	UG	2 724	0%	0	0%	0
Exceptional	UJ	3 170	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	3 170	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	3 170	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	5Z	0	0%	0	0%	0
Increases		TV	2 724	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	2 724	0%	0	0%	0

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	38 852	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	38 852	0%	0	0%	0

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

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	1 473 274	-6,5%	1 575 471	15,8%	1 360 587
1 year at most	VU	1 468 274	-6,5%	1 570 471	15,5%	1 359 179
More than one year	VV	5 000	0%	5 000	255,1%	1 408

State of loans

		31/12/2010		31/12/2009		31/12/2008
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	5 000	0%	5 000	255,1%	1 408
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2010		31/12/2009		31/12/2008
Customers doubtful or disputed	VA	38 852	0%	0	0%	0
Other claims customer	UX	1 364 390	-12,2%	1 553 296	16,9%	1 328 603
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	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	36 337	0%	0	0%	0
Value added tax	VB	12 870	82,9%	7 035	-30,7%	10 150
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	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	15 696	217,9%	4 938	-75,8%	20 425

Prepaid

		31/12/2010		31/12/2009		31/12/2008
Prepaid	VS	127	-97,6%	5 200	0%	0

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	1 227 980	-8,8%	1 346 063	3,9%	1 295 335
1 year at most		VZ2	1 227 980	-8,8%	1 346 063	3,9%	1 295 335
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2010		31/12/2009		31/12/2008
	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	78 942	145,5%	32 153	-64,3%	90 160
1 year at most		VG2	78 942	145,5%	32 153	-64,3%	90 160
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	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	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	1 000 839	-14,4%	1 169 570	24,0%	943 576
1 year at most		8B2	1 000 839	-14,4%	1 169 570	24,0%	943 576
More than 1 year and 5 years at most		8B3	1 000 839	-14,4%	1 169 570	24,0%	943 576
	Personnel and associated accounts (gross)	8C1	32 327	22,2%	26 451	418,6%	5 100
1 year at most		8C2	32 327	22,2%	26 451	418,6%	5 100
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	25 601	6,6%	24 010	230,5%	7 265
1 year at most		8D2	25 601	6,6%	24 010	230,5%	7 265
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	16 774	-56,9%	38 931
1 year at most		8E2	0	0%	16 774	-56,9%	38 931
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	201	-77,8%	904	107,3%	436
1 year at most		VW2	201	-77,8%	904	107,3%	436
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	0	0%	0	0%	0
1 year at most		VQ2	0	0%	0	0%	0
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	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	90 067	18,2%	76 198	-63,7%	209 864
1 year at most		8K2	90 067	18,2%	76 198	-63,7%	209 864
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%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2010		31/12/2009		31/12/2008
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2010		31/12/2009		31/12/2008
Commitments leasing furniture	YQ	0	0%	0	0%	0
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

		31/12/2010		31/12/2009		31/12/2008
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2010		31/12/2009		31/12/2008
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2010		31/12/2009		31/12/2008
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2010		31/12/2009		31/12/2008
Average number of employees	YP	02	0%	02	0%	0

Groups and Shareholders

		31/12/2010		31/12/2009		31/12/2008
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

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Fixed Asset Financing		39,81	-14,5%	46,56	10,3%	42,20	2,73	1358,2%
Global Debt		73 days	5,8%	69 days	-46,5%	129 days	124 days	-41,1%
Working Capital Fund overall net		38 days	58,3%	24 days	4,3%	23 days	71 days	-46,5%
Financial independence		805,51%	-46,5%	1506,85%	471,0%	263,88%	385,98%	108,7%
More ratios
Solvability		34,02%	29,0%	26,37%	73,7%	15,18%	37,33%	-8,9%
Capacity debt futures		805,52%	-46,5%	1506,90%	471,1%	263,88%	1182,45%	-31,9%
Coverage of current assets by net working capital overall		31,90%	25,3%	25,45%	72,0%	14,80%	42,75%	-25,4%
General Liquidity		1,20	2,6%	1,17	11,4%	1,05	0,79	51,9%
Restricted Liquidity		1,43	9,2%	1,31	17,0%	1,12	1,28	11,7%

Management or rotation

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Need background in operating working capital		25 days	56,2%	16 days	-33,3%	24 days	12 days	108,3%
Treasury		13 days	62,5%	8 days	0%	0 days	11 days	18,2%
Inventory turnover of goods		9 days	125,0%	4 days	-60,0%	10 days	26 days	-65,4%
Average length of credit granted to customers		84 days	5,0%	80 days	-39,8%	133 days	58 days	44,8%
Average length of credit obtained suppliers		65 days	1,6%	64 days	-37,3%	102 days	49 days	32,7%
More ratios
Inventory turnover of raw materials in industrial enterprises		0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	1758 days	-
Rotation tangible assets		93537,38%	-27,2%	128431,54%	51,9%	84524,15%	1608,51%	5715,2%

Profitability of the business

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Margin trading		10,78%	11,4%	9,68%	-11,9%	10,99	0,65%	1558,5%
Profitability of the business		4,04	-3,1%	4,17	-29,1%	5,88	4,84%	-16,5%
Net profit		2,46%	-16,3%	2,94%	-22,8%	3,81%	3,22%	-23,6%
More ratios
Growth rate of turnover (excluding VAT)		-14,18%	-114,9%	94,91%	-42,4%	164,65%	1,33%	-1166,2%
Rates integration		7,50%	7,1%	7%	-10,8%	7,85%	32,16%	-76,7%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		44,76%	12,8%	39,69%	65,7%	23,96%	64,51%	-30,6%
Weight interests		1,24	14,8%	1,08%	-51,1%	2,21%	0,10%	1140,0%

Return on capital

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Cash flow from the overall profitability		2,60%	-12,2%	2,96%	-22,9%	3,84%	4,46%	-41,7%
Rates of economic profitability		34%	-40,4%	57%	-12,3%	65%	16%	112,5%
Financial profitability		635897%	31,2%	484512%	103,6%	237917%	16750%	3696,4%
Return on investment		31,17%	-43,0%	54,73%	-17,3%	66,19%	13,15%	137,0%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Turnover	6 035 967	-14,2%	7 032 911	94,9%	3 608 336	190 590 €	3067,0%

Sales of goods	6 029 475	-14,2%	7 028 561	95,0%	3 604 243
- Purchase of goods	5 447 517	-13,9%	6 325 844	91,9%	3 295 907
+/- Stock of goods variation	-68 660	-416,9%	21 664	124,6%	-88 090
Trading margin	650 618 €	-4,5%	681 053 €	71,8%	396 426 €	320 €	203218,1%
	10,78 % CA	11,4%	9,68 % CA	-11,9%	10,99 % CA	3,22 % CA	234,8%

Sale of goods produced	6 492	49,2%	4 350	6,3%	4 093
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	6 492 €	49,2%	4 350 €	6,3%	4 093 €	62 080 €	-89,5%
	0,11 % CA	83,3%	0,06 % CA	-45,5%	0,11 % CA	96,63 % CA	-99,9%

Trading margin	650 618	-4,5%	681 053	71,8%	396 426	320	203218,1%
+ Period Production	6 492	49,2%	4 350	6,3%	4 093	62 080	-89,5%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	204 276	5,9%	192 969	64,7%	117 137
Added value	452 834 €	-8,0%	492 434 €	73,8%	283 382 €	64 468 €	602,4%
	7,50 % CA	7,1%	7,00 % CA	-10,8%	7,85 % CA	32,13 % CA	-76,7%

Added value	452 834 €	-8,0%	492 434 €	73,8%	283 382 €	64 468 €	602,4%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	6 317	81,0%	3 491	8,6%	3 216
- Personal charges	202 710	3,7%	195 467	187,8%	67 910
Gross operating surplus	243 807 €	-16,9%	293 476 €	38,3%	212 256 €	10 224 €	2284,7%
	4,04 % CA	-3,1%	4,17 % CA	-29,1%	5,88 % CA	4,84 % CA	-16,5%

Gross operating surplus	243 807 €	-16,9%	293 476 €	38,3%	212 256 €	10 224 €	2284,7%
+ Release of reserves and provisions	3 163	0%	0	0%	0
+ Other operating income	198	-31,2%	288	121,5%	130
- Depreciation/Amortisation	41 825	2493,0%	1 613	39,1%	1 160
- Other charges	542	9,5%	495	-63,5%	1 355
Operating result	204 801 €	-29,8%	291 656 €	39,0%	209 871 €	8 241 €	2385,1%
	3,39 % CA	-18,3%	4,15 % CA	-28,7%	5,82 % CA	3,69 % CA	-8,1%

Operating result	204 801 €	-29,8%	291 656 €	39,0%	209 871 €	8 241 €	2385,1%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	71 695	1,9%	70 370	1,5%	69 363
- Financial charges	74 633	-2,0%	76 163	-4,3%	79 599
Pre-tax result	201 863 €	-29,4%	285 863 €	43,2%	199 635 €	7 856 €	2469,5%
	3,34 % CA	-17,7%	4,06 % CA	-26,6%	5,53 % CA	3,60 % CA	-7,2%

Extraordinary income	0	0%	0	0%	0	0	0%
- Extraordinary charges	3 619	1804,7%	190	442,9%	35
Extraordinary result	-3 619 €	-1804,7%	-190 €	-442,9%	-35 €	0 €	0%
	-0,06 % CA	0%	0,00 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	201 863 €	-29,4%	285 863 €	43,2%	199 635 €	7 856 €	2469,5%
Extraordinary result	-3 619 €	-1804,7%	-190 €	-442,9%	-35 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	50 026	-36,7%	79 077	27,5%	62 035
Net result	148 218 €	-28,3%	206 596 €	50,2%	137 565 €	7 590 €	1852,8%
	2,46 % CA	-16,3%	2,94 % CA	-22,8%	3,81 % CA	3,22 % CA	-23,6%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Trends
	Profitability
	Liquidity
	Net worth

Workforces

Workforce at address

1 or 2 employees

Company workforbce

1 or 2 employees

Linkages

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

event history

Status history

Date	Description
01/10/2009	Economically active

Recent publications in Gazettes

	Gazette Name	Description
14/02/2012	JAL	Appointment of the social representative
Semaine de l Ile-de-France (La) Date de décision : 02/01/2012 Société faisant l'objet d'une nomination : 490995446 - EMA NEGOCE, 8 RUE DES RESERVOIRS, 78000 VERSAILLES Nominé : Monsieur Bertrand MAUVISSEAU, 78540 VERNOUILLET En la fonction de : Co-Gérant
21/10/2011	Bodacc B	Modification et mutation diverse
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 1208 - 490 995 446 RCS Versailles. EMA NEGOCE. Forme : Société à responsabilité limitée. Capital : 133200 EUR. Activité : . Commentaires : Modification du capital.
18/10/2011	JAL	Modification of the share capital
Semaine de l'Ile-de-France (La) Date de décision : 21/09/2011 La société : 490995446 - EMA NEGOCE, 8 RUE DES RESERVOIRS, 78000 VERSAILLES a subi une augmentation de son capital social désormais de 133 200 € Date d'effet : 21/09/2011
26/07/2010	Bodacc C	Comptes annuels et rapports
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 6516 - 490995446 RCS. EMA NEGOCE. Forme : Société à responsabilité limitée. Adresse : 8 rue des Réservoirs 78000 Versailles. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
17/11/2009	Bodacc A	Immatriculation
78 - YVELINES GREFFE DU TRIBUNAL DE COMMERCE DE VERSAILLES 855 - 490 995 446 RCS Versailles. EMA NEGOCE. Forme : Société à responsabilité limitée. Administration : Gérant : LEGRAND Jean-Damien Commissaire aux comptes suppléant : CHAVANE Laurent Commissaire aux comptes titulaire : SOCIETE PARISIENNE DE CONSEIL ET DE COMPTABILITE. Capital : 116600 EUR. Adresse : 8 rue des Réservoirs, 78000 Versailles. Date de commencement de l’activité : 01/01/0001. Descriptif : Immatriculation d'une personne morale suite au transfert du sige hors ressort. Modification du capital. Modification de reprsentant. Commentaires : Immatriculation d'une personne morale suite à transfert de son siège social.
07/10/2009	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 9680 - 490995446 RCS. EMA NEGOCE. Forme : Société à responsabilité limitée. Adresse : 152 rue des Tennerolles 92210 Saint-Cloud. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
04/07/2008	Bodacc B	Modification et mutation diverse
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 2072 - 490 995 446 RCS Nanterre. EMA NEGOCE. Forme : Société à responsabilité limitée. Capital : 100000 EUR. Commentaires : Modification du capital.
29/05/2008	Bodacc C	Comptes annuels et rapports
92 - HAUTS-DE-SEINE GREFFE DU TRIBUNAL DE COMMERCE DE NANTERRE 9834 - 490995446 RCS. EMA NEGOCE. Forme : Société à responsabilité limitée. Adresse : 152 rue des Tennerolles 92210 Saint-Cloud. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
12/06/2007	Bodacc B	Modifications et mutations diverses
2702 - RCS Nanterre B 490 995 446. RC 06-B 4159. EMA NEGOCE. Forme : S.A.R.L. Capital : 36 000 euros. Commentaires : modification survenue sur le capital (augmentation).
24/05/2007	Bodacc C	Avis de dépôt des comptes
7671 - RCS Nanterre B 490 995 446. RC 06-B 4159. EMA NEGOCE. Forme: S.A.R.L.. Adresse du siège social: 152, rue des Tennerolles,92210 Saint-Cloud. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
26/07/2006	Bodacc A	Création d'établissement
1908 - RCS Nanterre B 490 995 446. RC 06-B 4159. EMA NEGOCE. Forme : S.A.R.L. Capital : 15 000 euros. Adresse du siège social : 152 rue des Tennerolles, 92210 Saint-Cloud. Administration : gérant : LEGRAND (Jean-Damien). Etablissement principal - Activité : négoce international. Adresse : 152 rue des Tennerolles, 92210 Saint-Cloud. Cette société se constitue . Date de début d'activité : 10 juillet 2006.

COMPANY EVENTS HISTORY

Date	Description
09/02/2012	Appointment/resignation of company officers
09/02/2012	Minutes of general meeting of shareholders
02/01/2012	Legal Gazette: Appointment of the social representative
21/10/2011	Bodacc B: Various editing or changing
13/10/2011	Updated articles of association
13/10/2011	Capital increase
13/10/2011	Minutes of general meeting of shareholders
21/09/2011	Legal Gazette: Modification of the share capital
21/09/2011	Other modification of Establishment
11/08/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
26/07/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
17/11/2009	Bodacc A : Registration
05/11/2009	Minutes of general meeting of shareholders
05/11/2009	Registration after transfer
05/11/2009	Registered office transferred outside jurisdiction of the Commercial Court
05/11/2009	Capital increase
05/11/2009	Other modification of Establishment
05/11/2009	Updated articles of association
07/10/2009	Bodacc C : Deposit accounts notice
01/10/2009	Update of Company Head Office Identifier
01/10/2009	Transfer of Establishment
31/12/2008	New accounts available
14/10/2008	Collection of preferential rights activated for this company
04/07/2008	Bodacc B: Various editing or changing
04/07/2008	New Bodacc B ads detected
25/06/2008	PV d'Assemblée
25/06/2008	Minutes of general meeting of shareholders
25/06/2008	Fund deposit certificate
25/06/2008	Statuts mis à jour
25/06/2008	Updated articles of association
25/06/2008	Augmentation de Capital
25/06/2008	Capital increase
25/06/2008	Private document
29/05/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
10/05/2007	Certificat de dépôt des fonds
10/05/2007	Private document
10/05/2007	Minutes of general meeting of shareholders
10/05/2007	Updated articles of association
10/05/2007	Fund deposit certificate
10/05/2007	PV d'Assemblée
10/05/2007	Augmentation de Capital
10/05/2007	Capital increase
10/05/2007	Statuts mis à jour
31/12/2006	New accounts available
11/07/2006	Private document
11/07/2006	Formation de Société
11/07/2006	Company formation
11/07/2006	Articles of association
11/07/2006	Statuts

ESTABLISHMENT EVENTS HISTORY

Date	Description
12/02/2012	Update Limit
12/02/2012	Update Rating
30/01/2012	Update Rating
13/07/2010	Update Limit
04/01/2010	Update Limit
29/12/2009	Update Rating
21/12/2009	Update of phone numbers
14/12/2009	Update Rating
14/12/2009	Update Limit
05/11/2009	Modification of Head office
01/10/2009	Formation of Head office (after transfer

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.57
UK Pound	1	Rs.79.57
Euro	1	Rs.66.49

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.