MIRA INFORM REPORT

Report Date :

05.10.2012

IDENTIFICATION DETAILS

Name :	G P K PRODUCTS
Registered Office :	1 Imp Du Lac 62450 Bapaume
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	June 1989
Com. Reg. No.:	RCS Arras 9 351 005 020
Legal Form :	Limited Liability Company
Line of Business :	Wholesale (intercompany trade) of various industrial supplies and equipment
No. of Employees :	3 to 5 employees

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Under Liquidation
Payment Behaviour :	--
Litigation :	--

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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
France	A1	A1

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

FRANCE - ECONOMIC OVERVIEW

France was transitioning from an economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms but is in the midst of a euro-zone crisis. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 75 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011. The unemployment rate increased from 7.4% in 2008 to 9.3% in 2010 and 9.1% in 2011. Lower-than-expected growth and increased unemployment have cut government revenues and increased borrowing costs, contributing to a deterioration of France's public finances. The government budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 5.8% of GDP in 2011, while France's public debt rose from 68% of GDP to 86% over the same period. Under President SARKOZY, Paris implemented austerity measures that eliminated tax credits and froze most government spending in an effort to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt levels. Socialist Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, as well as measures such as forcing banks to separate their traditional deposit taking and lending activities from more speculative businesses, increasing taxes on bank profits, introducing a new top bracket on income taxes for people earning over €1 million ($1.3 million) a year, and hiring an additional 60,000 civil servants during his five-year term of office.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

company summary

Activity (APE)	Wholesale (intercompany trade) of various industrial supplies and equipment (4669B)	Legal form	Limited Liability Company
Phone	03 21 07 83 70	RCS Registration	RCS Arras 9 351 005 020
Fax		Share capital	11,433 Euros
Address	G P K PRODUCTS 1 IMP DU LAC 62450 BAPAUME	Incorporated Date	06/1989
Nationality	France	Status	Liquidation

Company details

Activity (APE)	Wholesale (intercompany trade) of various industrial supplies and equipment (4669B)
RCS Registration	RCS Arras 9 351 005 020	Share capital	11,433 Euros
Registration Court	Arras (62)	Legal form	Limited Liability Company
Court Registry Number	19 9 3B001	EU VAT Number	FR47351005020
Incorporation Date	06/1989	Formation Date	04/1989
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Activity (APE)	Wholesale (intercompany trade) of various industrial supplies and equipment (4669B)	Business Pages FT®
Postal Address	G P K PRODUCTS 1 IMP DU LAC 62450 BAPAUME	Trading Address	1 IMPASSE DU LAC 62450 BAPAUME
Telephone	03 21 07 83 70
Fax

Type	Head office	Status	Liquidation
Formation Date	10/1993	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Store
Location surface	From 300 m² to less than 400 m²	Seasonality

Department	Pas-de-Calais (62)	Region	Nord-Pas-de-Calais
District	1	Area	09
City	BAPAUME	Size of urban area

Other establishments

Branches	2 branch entities in this company
Head office	> G P K PRODUCTS <<<  - Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers (4669B)  in BAPAUME  (62450)
Secondary establishments	>  G P K PRODUCTS  - Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers (4669B)  in RONCQ  (59223) >  G P K PRODUCTS  - Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers (4669B)  in COMINES  (59560) >  G P K PRODUCTS  - Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers (4669B)  in RONCQ  (59223)

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

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	M. GHESQUIER JEAN-CLAUDE
Manager position	Gérant	Date of birth	21/01/1943
Place of birth	TOURCOING 59
Type	Individual	Name at birth

Previous Directors

View the directors history for this company
If you want to view the directors history, please click on the link view details.

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

NEGATIVE INFORMATION

judgements

Collective procedures

Courts

 No judgment information for the company coming from Court

Rncs

Judgment

Redressement judiciaire

Effective date

22/04/2005

Judgment

Liquidation judiciaire

Effective date

31/01/2005

Bodacc

Judgment	Jugement lié aux créances	Effective date	06/07/2006
Court	-	Parution date from Gazette	06/07/2006
2701 - Avis de dépôt de l'état des créances . RCS Arras B 351 005 020. RC 93-B 133. GPK PRODUCTS. Forme : S.A.R.L. Adresse : 1 impasse des Lacs, 62450 Bapaume. Dépôt de l'état des créances au tribunal de commerce de : Arras , où les réclamations seront recevables dans un délai de quinze jours à compter de la date de la présente publication.

Judgment	Plan de continuation/Redressement	Effective date	09/03/2006
Court	-	Parution date from Gazette	09/03/2006
2117 - Date : 27 janvier 2006. Jugement arrêtant le plan de continuation . RCS Arras B 351 005 020. RC 93-B 133. GPK PRODUCTS. Forme : S.A.R.L. Adresse : 1 impasse des Lacs, 62450 Bapaume. Commissaire à l'exécution du plan : S.E.L.A.R.L. Gérard Duquesnoy. Adresse : 2 rue Jules-Ferry, 62000 Arras.

Judgment	Autres jugements et ordonnances	Effective date	23/11/2004
Court	-	Parution date from Gazette	23/11/2004
Date: 15 octobre 2004. Jugement d' ouverture de liquidation judiciaire sur résolution du plan de continuation. RCS Arras B 351005020 RC 93-B 133 GPK PRODUITS. Forme : S.A.R.L. Activité : vente et négoce d'emballages industriels. Adresse : 1 impasse des Lacs, 62450 Bapaume Mandataire judiciaire à la liquidation des entreprises: S.E.L.A.R. L. Gérard Duquesnoy. Adresse : 2 rue Jules-Ferry, 62000 Arras Les déclarations de créances sont à déposer dans un délai de deux mois suivant la présente publication auprès du mandataire judiciaire à la liquidation des entreprises.

Judgment	Autres jugements et ordonnances	Effective date	25/01/2000
Court	-	Parution date from Gazette	25/01/2000
Date: 10 décembre 1999 Le tribunal de commerce d'Arras a dit qu'il était mis fin aux fonctions de Me Darrousez-Coint avec effet au 31 décembre 1999 et a nommé en remplacement Me Duquesnoy ( Gérard), en qualité de commissaire à l' exécution du plan lequel entrera en fonction le 1er janvier 2000. RCS Arras B 351 005 020 RC 93-B 133 S.A.R.L. G.P. K. PRODUCT. Activité : vente et négoce d' emballages industriels. Adresse : 1 impasse des Lacs, 62450 Bapaume Commissaire à l'éxécution du plan: Me Duquesnoy Gérard. Adresse : 1 rue de l' Origan, parc des Bonnettes, 62000 Arras.

Judgment	Autres jugements et ordonnances	Effective date	29/10/1995
Court	-	Parution date from Gazette	29/10/1995
Avis de dépot de l'état des créances. RCS Arras B 351 005 020 RC 93-B 133 G.P. K. PRODUCTS. Forme : S.A.R.L Nom commercial: G.P.K. Adresse : 1 impasse des Lacs 62450 Bapaume Dépot de l'état des créances au tribunal de commerce de: Arras , où les réclamations seront recevables dans un délai de quinze jours à compter de la date de la présente publication.

Judgment	Plan de continuation/Redressement	Effective date	03/09/1995
Court	-	Parution date from Gazette	03/09/1995
Date: 28 juillet 1995. Jugement arretant le plan de continuation. RCS RCS Arras B 351 005 020 RC RC 93-B 133 G.P.K. PRODUCTS. Forme : S.A.R.L. Adresse : 1, impasse des Lacs 62450 Bapaume Commissaire à l'éxécution du plan: Me Darrousez-Coint. Adresse : parc des Bonnettes, immeuble B 800, 1, rue de l' Origan 62000 Arras.

Other sources

No recent judgment publication in other sources for the company.

SHARE & SHARE CAPITAL INFORMATION

Share capital

11,433 Euros

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

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.

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	31/12/2007
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	10/11/2011	18/05/2011	-
Activity Code	4669B	4669B	4669B
Employees	0	0	0

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2007	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	103 085	26,2%	81 711	-4,7%	85 709	28 857	257,2%
- Intangible assets	50 400	-1,5%	51 142	1,5%	50 400	0	0%
- Tangible assets	9 894	785,8%	1 117	109,2%	534	12 060	-18,0%
- Financial assets	42 791	45,3%	29 452	-15,3%	34 775	1 840	2225,6%
Net current assets	370 241	64,1%	225 560	9,5%	205 917	402 796	-8,1%
- Stocks	255 160	216,8%	80 541	-24,6%	106 880	48 313	428,1%
- Advanced payments	0	64,1%	0	0%	0	0	0%
- Receivables	77 826	-36,6%	122 787	90,3%	64 534	196 897	-60,5%
- Securities and cash	37 255	67,6%	22 232	-35,6%	34 502	60 102	-38,0%
- Prepaid expenses	-	-	-	-	-	254,50	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	473 327	54,0%	307 271	5,4%	291 626	475 486	-0,5%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2007	Sector Median 2010
Shareholders' equity	-34 926	43,6%	-61 953	13,8%	-71 865	150 246	-123,2%
Share capital	11 434	0%	11 434	0%	11 434	37 000	-69,1%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	508 254	37,7%	369 225	1,6%	363 491	270 512	87,9%
- Financial liabilities	121	-85,7%	849	17,6%	722	20 042	-99,4%
- Advanced payments received	23 596	0%	0	0%	0	0	0%
- Trade account payables	257 458	145,8%	104 749	26,5%	82 793	109 265	135,6%
- Tax and social liabilities	82 838	23,2%	67 251	64,0%	41 019	71 924	15,2%
- Other debts and fixed assets liabilities	144 241	-26,5%	196 376	-17,8%	238 958	4 240	3301,9%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	473 326	54,0%	307 271	5,4%	291 626	475 486	-0,5%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2007	Sector Median 2010
Sales of Goods	2 203 896	50,7%	1 462 923	15,2%	1 270 043	807 832	172,8%
Net turnover	2 201 755	50,5%	1 462 484	15,2%	1 269 832	788 284	179,3%
- of which net export turnover	0	0%	408 708	0%	0	0	0%
Operating charges	2 191 806	52,8%	1 434 189	15,7%	1 239 339	770 625	184,4%
Operating profit/loss	12 090	-57,9%	28 734	-6,4%	30 705	22 049	-45,2%
Financial income	6 645	80,0%	3 691	-42,3%	6 399	143	4546,9%
Financial charges	17 073	-15,6%	20 227	-28,5%	28 280	1 680	916,2%
Financial profit/loss	-10 428	36,9%	-16 536	24,4%	-21 880	-364	-2764,8%
Pretax net operating income	1 662	-86,4%	12 198	38,2%	8 824	20 396	-91,9%
Extraordinary income	0	0%	2 088	-65,1%	5 976	293	0%
Extraordinary charges	413	-60,4%	1 042	0%	0	331	24,8%
Extraordinary profit/loss	-413	2483,8%	1 046	-82,5%	5 976	0	0%
Net result	27 027	104,1%	13 244	19,8%	11 051	18 409	46,8%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2010	31/12/2009	31/12/2007
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2009		31/12/2007
	Grand Total (I to VI)	Net	473 327	54,0%	307 271	5,4%	291 626
	Gross	CO	504 555	51,3%	333 583	4,2%	320 008
	Amortisation	1A	31 228	18,7%	26 312	-7,3%	28 382

Non declared distributed capital (I)

		31/12/2010		31/12/2009		31/12/2007
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

			31/12/2010		31/12/2009		31/12/2007
	Total Active fixed asset (II)	Net	103 085	26,2%	81 711	-4,7%	85 709
	Gross	BJ	121 963	23,5%	98 761	-6,7%	105 839
	Amortisation	BK	18 878	10,7%	17 050	-15,3%	20 130

Intangilble fixed assets

			31/12/2010		31/12/2009		31/12/2007
	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%	742	0%	0
	Gross	AF	4 898	0%	4 898	181,7%	1 739
	Amortisation	AG	4 898	17,9%	4 156	139,0%	1 739
	Goodwill	Net	50 400	0%	50 400	0%	50 400
	Gross	AH	50 400	0%	50 400	0%	50 400
	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	50 400	-1,5%	51 142	1,5%	50 400

Tangilble fixed assets

			31/12/2010		31/12/2009		31/12/2007
	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	4 393	0%	4 393	0%	4 393
	Amortisation	AQ	4 393	0%	4 393	0%	4 393
	Plant	Net	8 073	8488,3%	94	-73,4%	354
	Gross	AR	9 150	1307,7%	650	-83,1%	3 836
	Amortisation	AS	1 077	93,7%	556	-84,0%	3 482
	Other tangible fixed assets	Net	1 821	78,0%	1 023	468,3%	180
	Gross	AT	10 331	15,2%	8 968	-16,2%	10 697
	Amortisation	AU	8 510	7,1%	7 945	-24,5%	10 517
	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	9 894		1 117		534

Financial assets

			31/12/2010		31/12/2009		31/12/2007
	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	42 791	45,3%	29 452	-15,3%	34 775
	Gross	BH	42 791	45,3%	29 452	-15,3%	34 775
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		42 791		29 452		34 775

Current Assets (III)

			31/12/2010		31/12/2009		31/12/2007
	Total Assets	Net	370 241	64,1%	225 560	9,5%	205 917
	Gross	CJ	382 592	62,9%	234 822	9,6%	214 168
	Amortisation	CK	12 351	33,4%	9 262	12,3%	8 251

Stocks

			31/12/2010		31/12/2009		31/12/2007
	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	255 160	216,8%	80 541	-24,6%	106 880
	Gross	BT	255 160	216,8%	80 541	-24,6%	106 880
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	255 160	216,8%	80 541	-24,6%	106 880

Advance payments to suppliers

			31/12/2010		31/12/2009		31/12/2007
	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		31/12/2007
	Trade accounts receivable	Net	16 593	0,0%	16 595	-23,8%	21 780
	Gross	BX	28 944	11,9%	25 857	-13,9%	30 032
	Amortisation	BY	12 351	33,4%	9 262	12,2%	8 252
	Other debtors	Net	59 910	-42,4%	104 037	174,1%	37 961
	Gross	BZ	59 910	-42,4%	104 037	174,1%	37 961
	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	76 503	-36,6%	120 632	101,9%	59 741

Divers

			31/12/2010		31/12/2009		31/12/2007
	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	37 255	67,6%	22 232	-35,6%	34 502
	Gross	CF	37 255	67,6%	22 232	-35,6%	34 502
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	37 255	67,6%	22 232	-35,6%	34 502

Prepaid expenses

			31/12/2010		31/12/2009		31/12/2007
	Prepaid expenses	Net	1 323	-38,6%	2 155	-55,0%	4 793
	Gross	CH	1 323	-38,6%	2 155	-55,0%	4 793
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2009		31/12/2007
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	-	-

References

		31/12/2010		31/12/2009		31/12/2007
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		31/12/2007
Grand Total (I to V)	EE	473 326	54,0%	307 271	5,4%	291 626

Shareholder Equity (I)

			31/12/2010		31/12/2009		31/12/2007
	Total shareholders' equity (Total I)	DL	-34 926	43,6%	-61 953	13,8%	-71 865
	Equity and shareholders' equity	DA	11 434	0%	11 434	0%	11 434
	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	843	0%	843	0%	843
	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	-74 230	15,1%	-87 474	8,1%	-95 192
	Profit or loss for the period	DI	27 027	104,1%	13 244	19,8%	11 051
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2010		31/12/2009		31/12/2007
	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		31/12/2007
	Total provisions for risks and charges (Total III)	DR	0	0%	0	0%	0
	Risk provisions	DP	0	0%	0	0%	0
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2010		31/12/2009		31/12/2007
	Total Liabilities (Total IV)	EC	508 254	37,7%	369 225	1,6%	363 491
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	606	-16,1%	722
	Sundry loans and financial liabilities	DV	121	-50,2%	243	0%	0
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	23 596	0%	0	0%	0
	Trade accounts payables	DX	257 458	145,8%	104 749	26,5%	82 793
	Tax and social security liabilities	DY	82 838	23,2%	67 251	64,0%	41 019
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	144 241	-26,5%	196 376	-17,8%	238 958

Translation loss (V)

		31/12/2010		31/12/2009		31/12/2007
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2010		31/12/2009		31/12/2007
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2007
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	369 225	1,6%	363 491
Of which current bank facilities	EH	0	0%	0	0%	0

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		31/12/2007
Operating result (Total I-II)	GG	12 090	-57,9%	28 734	-6,4%	30 705

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2007
Financial result (Total V-VI)	GV	-10 428	36,9%	-16 536	24,4%	-21 880

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

		31/12/2010		31/12/2009		31/12/2007
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	1 662	-86,4%	12 198	38,2%	8 824

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2007
Extraordinary result (Total VII-VIII)	HI	-413	-139,5%	1 046	-82,5%	5 976

Profit or loss

		31/12/2010		31/12/2009		31/12/2007
Profit or loss	HN	27 027	104,1%	13 244	19,8%	11 051

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2007
Total Income (I+III+V+VII)	HL	2 210 541	50,5%	1 468 702	14,5%	1 282 419

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

		31/12/2010		31/12/2009		31/12/2007
Total charges (Total II+IV+VI+VIII+IX+X)	HM	2 183 516	50,0%	1 455 458	14,5%	1 271 368

Operating income (I)

		31/12/2010		31/12/2009		31/12/2007
Total operating income (Total I)	FR	2 203 896	50,7%	1 462 923	15,2%	1 270 043

Operating income (details)

			31/12/2010		31/12/2009		31/12/2007
	Sale of goods for resale	FC	2 195 651	50,9%	1 455 473	15,4%	1 261 785
	France	FA	2 195 651	109,5%	1 047 821	-17,0%	1 261 785
	Export	FB	0	0%	407 652	0%	0
	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	6 104	-12,9%	7 011	-12,9%	8 046
	France	FG	6 104	2,5%	5 955	-26,0%	8 046
	Export	FH	0	0%	1 056	0%	0
	Net turnover	FL	2 201 755	50,5%	1 462 484	15,2%	1 269 832
	France	FJ	2 201 755	108,9%	1 053 776	-17,0%	1 269 832
	Export	FK	0	0%	408 708	0%	0
	Stocked production	FM	2 141	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	0	0%	0	0%	212
	Other income	FQ	0	0%	439	0%	0

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2007
Total operating charges (Total II)	GF	2 191 806	52,8%	1 434 189	15,7%	1 239 339

Exploitation charges

		31/12/2010		31/12/2009		31/12/2007
Purchase of goods for resale	FS	1 756 554	88,9%	929 902	25,9%	738 372
Change in stocks of goods for resale	FT	-174 619	-3822,4%	4 691	-93,5%	72 223
Purchase of raw materials	FU	19 389	283,1%	5 061	-86,5%	37 493
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	336 754	28,8%	261 554	23,5%	211 786
Tax, duty and similar payments	FX	6 895	-22,8%	8 927	-3,6%	9 262
Payroll	FY	173 980	8,6%	160 143	27,0%	126 069
Social security costs	FZ	65 049	17,5%	55 365	37,8%	40 164

Depreciation

		31/12/2010		31/12/2009		31/12/2007
Depreciation of fixed assets	GA	6 350	41,7%	4 481	613,5%	628
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	1 434	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2010		31/12/2009		31/12/2007
Other charges	GE	1 454	-44,7%	2 631	-21,3%	3 341

Operating charges (III-IV)

		31/12/2010		31/12/2009		31/12/2007
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		31/12/2007
	Total financial income (Total V)	GP	6 645	80,0%	3 691	-42,3%	6 399
	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	6 645	80,0%	3 691	1632,9%	213
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	0	0%	0	0%	6 187
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2010		31/12/2009		31/12/2007
	Total financial charge (Total VI)	GU	17 073	-15,6%	20 227	-28,5%	28 280
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	17 073	-15,6%	20 227	-25,1%	26 999
	Exchange losses	GS	0	0%	0	0%	1 281
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

			31/12/2010		31/12/2009		31/12/2007
	Total extraordinary income (Total VII)	HD	0	0%	2 088	-65,1%	5 976
	Extraordinary operating income	HA	0	0%	1 453	-75,7%	5 976
	Extraordinary income from capital transactions	HB	0	0%	635	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/12/2010		31/12/2009		31/12/2007
	Total extraordinary charges (Total VIII)	HH	413	-60,4%	1 042	0%	0
	Extraordinary operating charges	HE	413	-1,9%	421	0%	0
	Extraordinary charges from capital transactions	HF	0	0%	621	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2010		31/12/2009		31/12/2007
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2010		31/12/2009		31/12/2007
Tax on profits (Total X)	HK	-25 776	0%	0	0%	3 750

References

		31/12/2010		31/12/2009		31/12/2007
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%	1 772	83,8%	964

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		31/12/2007
	Gross value at begin of period	OG	0	0%	0	0%	116 800
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	34 424
	Decreasess by budget item transfer	OK1	0	0%	0	0%	45 387
	Decreasess by transfers	OK2	29 101	-33,1%	43 481	0%	0
	Gross value at the end of period	OL	121 963	23,5%	98 761	-6,7%	105 839

Research and development Charge (Total I)

			31/12/2010		31/12/2009		31/12/2007
	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		31/12/2007
	Gross value at begin of period	KD	55 298	3,4%	53 504	2,6%	52 138
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	3 000	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	1 205	0%	0
	Gross value at the end of period	LW	55 298	0,0%	55 299	6,1%	52 139

Tangible fixed assets (Total III)

			31/12/2010		31/12/2009		31/12/2007
	Gross value at begin of period	LN	14 011	-3,3%	14 492	-23,4%	18 925
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	9 863	764,4%	1 141	0%	0
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	1 622	0%	0
	Gross value at the end of period	NH	23 874	70,4%	14 011	-26,0%	18 925

Fiancial assets (Total IV)

		31/12/2010		31/12/2009		31/12/2007
Gross value at begin of period	LQ	29 452	-28,2%	41 004	-10,3%	45 737
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	42 441	45,8%	29 101	-15,5%	34 424
Decreasess by budget item transfer	NJ1	0	0%	0	0%	45 387
Decreasess by transfers	NJ2	29 101	-28,4%	40 652	0%	0
Gross value at the end of period	NK	42 792	45,3%	29 453	-15,3%	34 775

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

			31/12/2010		31/12/2009		31/12/2007
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	19 501
Increases		0P	0	0%	0	0%	627
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	20 128

Research and development charge (Total I)

			31/12/2010		31/12/2009		31/12/2007
	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		31/12/2007
	Reserve for depreciation value at begin of period	PE	4 158	205,1%	1 363	-21,6%	1 738
Increases		PF	742	-81,4%	3 998	0%	0
Decreasess		PG	0	0%	1 205	0%	0
	Decreasess by budget item transfer	PH	4 900	17,9%	4 156	139,1%	1 738

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2007
	Reserve for depreciation value at begin of period	QU	12 894	-3,9%	13 412	-24,5%	17 763
Increases		QV	1 086	124,8%	483	-23,0%	627
Decreases		QW	0	0%	1 001	0%	0
	Decreasess by budget item transfer	QX	13 980	8,4%	12 894	-29,9%	18 390

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

			31/12/2010		31/12/2009		31/12/2007
	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		31/12/2007
	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		31/12/2007
	Value at begining of period	7C	0	0%	0	0%	8 463
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	211
	Value at the end of period	UD	0	0%	0	0%	8 252

Includes Total allocations

Operating	UE	0	0%	0	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	211
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		31/12/2007
	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)

			31/12/2010		31/12/2009		31/12/2007
	Value at begining of period	5Z	0	0%	0	0%	0
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	0	0%	0

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2009		31/12/2007
	Value at begining of period	7B	0	0%	0	0%	8 463
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	211
	Value at the end of period	UA	0	0%	0	0%	8 252

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

		31/12/2010		31/12/2009		31/12/2007
Gross value	VT	132 591	-17,9%	161 502	50,1%	107 561
1 year at most	VU	89 800	-44,4%	161 502	50,1%	107 561
More than one year	VV	42 791	0%	0	0%	0

State of loans

		31/12/2010		31/12/2009		31/12/2007
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	42 791	45,3%	29 452	-15,3%	34 775
Other financial assets (1 year at most)	UV	0	0%	29 452	0%	0

Receivables statement of assets

		31/12/2010		31/12/2009		31/12/2007
Customers doubtful or disputed	VA	0	0%	18 020	18,7%	15 182
Other claims customer	UX	28 944	269,3%	7 838	-47,2%	14 849
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%	01	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	8 701	-16,8%	10 460
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%	2 796
Accounts receivable (including claims relating to the operation of pension titles)	VR	59 532	-37,6%	95 336	285,9%	24 703

Prepaid

		31/12/2010		31/12/2009		31/12/2007
Prepaid	VS	1 323	-38,6%	2 155	-55,0%	4 793

State Debt

			31/12/2010		31/12/2009		31/12/2007
	Total debt (gross)	VY	484 658	31,3%	369 225	1,6%	363 491
1 year at most		VZ2	484 658	31,3%	369 225	1,6%	363 490
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	01

Details

			31/12/2010		31/12/2009		31/12/2007
	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	0	0%	606	-16,0%	721
1 year at most		VG2	0	0%	606	-16,0%	721
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%	01
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	257 458	145,8%	104 749	26,5%	82 793
1 year at most		8B2	257 458	145,8%	104 749	26,5%	82 793
More than 1 year and 5 years at most		8B3	257 458	145,8%	104 749	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	16 473	83,7%	8 969
1 year at most		8C2	0	0%	16 473	83,7%	8 969
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	82 838	191,8%	28 391	50,7%	18 834
1 year at most		8D2	82 838	191,8%	28 391	50,7%	18 834
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	18 245	91,2%	9 543
1 year at most		VW2	0	0%	18 245	91,2%	9 543
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%	4 142	12,8%	3 673
1 year at most		VQ2	0	0%	4 142	12,8%	3 673
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%	243	0%	0
1 year at most		VI2	0	0%	243	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	144 362	-26,5%	196 376	-17,8%	238 957
1 year at most		8K2	144 362	-26,5%	196 376	-17,8%	238 957
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		31/12/2007
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	3 479

Table allocation results and other information
Dividends distributed

		31/12/2010		31/12/2009		31/12/2007
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2010		31/12/2009		31/12/2007
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		31/12/2007
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		31/12/2007
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		31/12/2007
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		31/12/2007
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/12/2010		31/12/2009		31/12/2007
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		31/12/2007	Sector Median 2010
Fixed Asset Financing		-0,13	71,1%	-0,45	6,2%	-0,48	3,07	-104,2%
Global Debt		83 days	-8,8%	91 days	-11,7%	103 days	110 days	-24,5%
Working Capital Fund overall net		-23 days	34,3%	-35 days	20,5%	-44 days	74 days	-131,1%
Financial independence		%	-	-10223,27%	-2,7%	-9953,60%	779,86%	-
More ratios
Solvability		-7,38%	63,4%	-20,16%	18,2%	-24,64%	38,89%	-119,0%
Capacity debt futures		%	-	-10223,27%	-2,6%	-9967,41%	1980,37%	-
Coverage of current assets by net working capital overall		-36,17%	41,1%	-61,38%	18,1%	-74,91%	43,66%	-182,8%
General Liquidity		0,19	-56,8%	0,44	46,7%	0,30	0,88	-78,4%
Restricted Liquidity		0,26	-48,0%	0,50	28,2%	0,39	1,29	-79,8%

Management or rotation

		31/12/2010		31/12/2009		31/12/2007	Sector Median 2010
Need background in operating working capital		-29 days	29,3%	-41 days	26,8%	-56 days	34 days	-185,3%
Treasury		6 days	20,0%	5 days	-50,0%	10 days	19 days	-68,4%
Inventory turnover of goods		58 days	87,1%	31 days	-34,0%	47 days	52 days	11,5%
Average length of credit granted to customers		5 days	-16,7%	6 days	-33,3%	9 days	73 days	-93,2%
Average length of credit obtained suppliers		48 days	54,8%	31 days	10,7%	28 days	66 days	-27,3%
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	1150 days	-
Rotation tangible assets		9222,40%	-11,6%	10438,11%	55,6%	6709,81%	1551,04%	494,6%

Profitability of the business

		31/12/2010		31/12/2009		31/12/2007	Sector Median 2010
Margin trading		27,87%	-21,8%	35,62%	0,3%	35,53	27,09%	2,9%
Profitability of the business		0,90	-64,3%	2,52	-7,0%	2,71	4,14%	-78,3%
Net profit		1,23%	35,2%	0,91%	4,6%	0,87%	2,51%	-51,0%
More ratios
Growth rate of turnover (excluding VAT)		50,55%	0%	0%	0%	-17,48%	2,54%	1890,2%
Rates integration		12,07%	-32,5%	17,87%	8,1%	16,53%	24,83%	-51,4%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		89,92%	9,0%	82,48%	4,2%	79,17%	73,47%	22,4%
Weight interests		0,78	-43,5%	1,38%	-38,1%	2,23%	0,20%	290,0%

Return on capital

		31/12/2010		31/12/2009		31/12/2007	Sector Median 2010
Cash flow from the overall profitability		1,52%	25,6%	1,21%	34,4%	0,90%	3,19%	-52,4%
Rates of economic profitability		-57%	5,0%	-60%	-25,0%	-48%	15%	-480,0%
Financial profitability		-34926%	43,6%	-61953%	13,8%	-71865%	134131%	-126,0%
Return on investment		-126,71%	-131,3%	-54,78%	0,9%	-55,28%	11,18%	-1233,4%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2009		31/12/2007	Sector Median 2010
Turnover	2 201 755	50,5%	1 462 484	15,2%	1 269 832	788 284 €	179,3%

Sales of goods	2 195 651	50,9%	1 455 473	15,4%	1 261 785
- Purchase of goods	1 756 554	88,9%	929 902	25,9%	738 372
+/- Stock of goods variation	-174 619	-3822,4%	4 691	-93,5%	72 223
Trading margin	613 716 €	17,8%	520 880 €	15,4%	451 190 €	167 213 €	267,0%
	27,87 % CA	-21,8%	35,62 % CA	0,3%	35,53 % CA	27,87 % CA	0%

Sale of goods produced	6 104	-12,9%	7 011	-12,9%	8 046
+/- Stocked production	2 141	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	8 245 €	17,6%	7 011 €	-12,9%	8 046 €	65 546 €	-87,4%
	0,37 % CA	-22,9%	0,48 % CA	-23,8%	0,63 % CA	9,62 % CA	-96,2%

Trading margin	613 716	17,8%	520 880	15,4%	451 190	167 213	267,0%
+ Period Production	8 245	17,6%	7 011	-12,9%	8 046	65 546	-87,4%
- Purchase of raw materials	19 389	283,1%	5 061	-86,5%	37 493
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	336 754	28,8%	261 554	23,5%	211 786
Added value	265 818 €	1,7%	261 276 €	24,4%	209 957 €	200 596 €	32,5%
	12,07 % CA	-32,5%	17,87 % CA	8,1%	16,53 % CA	24,83 % CA	-51,4%

Added value	265 818 €	1,7%	261 276 €	24,4%	209 957 €	200 596 €	32,5%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	6 895	-22,8%	8 927	-3,6%	9 262
- Personal charges	239 029	10,9%	215 508	29,6%	166 233
Gross operating surplus	19 894 €	-46,0%	36 841 €	6,9%	34 462 €	27 162 €	-26,8%
	0,90 % CA	-64,3%	2,52 % CA	-7,0%	2,71 % CA	4,13 % CA	-78,2%

Gross operating surplus	19 894 €	-46,0%	36 841 €	6,9%	34 462 €	27 162 €	-26,8%
+ Release of reserves and provisions	0	0%	0	0%	212
+ Other operating income	0	0%	439	0%	0
- Depreciation/Amortisation	6 350	7,4%	5 915	841,9%	628
- Other charges	1 454	-44,7%	2 631	-21,3%	3 341
Operating result	12 090 €	-57,9%	28 734 €	-6,4%	30 705 €	21 916 €	-44,8%
	0,55 % CA	-71,9%	1,96 % CA	-19,0%	2,42 % CA	3,26 % CA	-83,1%

Operating result	12 090 €	-57,9%	28 734 €	-6,4%	30 705 €	21 916 €	-44,8%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	6 645	80,0%	3 691	-42,3%	6 399
- Financial charges	17 073	-15,6%	20 227	-28,5%	28 280
Pre-tax result	1 662 €	-86,4%	12 198 €	38,2%	8 824 €	20 199 €	-91,8%
	0,08 % CA	-90,4%	0,83 % CA	20,3%	0,69 % CA	3,05 % CA	-97,4%

Extraordinary income	0	0%	2 088	-65,1%	5 976	293	0%
- Extraordinary charges	413	-60,4%	1 042	0%	0
Extraordinary result	-413 €	-139,5%	1 046 €	-82,5%	5 976 €	0 €	0%
	-0,02 % CA	-128,6%	0,07 % CA	-85,1%	0 % CA	0 % CA	0%

Pre-tax result	1 662 €	-86,4%	12 198 €	38,2%	8 824 €	20 199 €	-91,8%
Extraordinary result	-413 €	-139,5%	1 046 €	-82,5%	5 976 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	-25 776	0%	0	0%	3 750
Net result	27 025 €	104,1%	13 244 €	19,9%	11 050 €	18 184 €	48,6%
	1,23 % CA	35,2%	0,91 % CA	4,6%	0,87 % CA	2,50 % CA	-50,8%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Last published Judgment	06/07/2006
	This company is not under monitoring

Trading to Date	12/31/2010	12/31/2009	12/31/2007
Turnover	2,201,755 €	1,462,484 €	1,269,832 €
Gross Operating Surplus	0,90 % Turnover	2,52 % Turnover	2,71 % Turnover
Shareholders’ equity	-34,926 €	-61,953 €	-71,865 €
Net result	27,027 €	13,244 €	11,051 €
Employees	3 to 5 employees	-	-

Trends

Profitability

Liquidity

Net worth

Commentary

The comments are arranged in decreasing order of importance

Company is being liquidated or is winding-up

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

Preferential rights details and history

Status of collection

This company is not under monitoring

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
01/10/2012	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 8517 - 351005020 RCS. GPK PRODUCTS. Forme : Société à responsabilité limitée. Adresse : 1 impasse des Lacs 62450 Bapaume. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
14/11/2011	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 4469 - 351005020 RCS. GPK PRODUCTS. Forme : Société à responsabilité limitée. Adresse : 1 impasse des Lacs 62450 Bapaume. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
06/09/2010	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 7550 - 351005020 RCS. GPK PRODUCTS. Forme : Société à responsabilité limitée. Adresse : 1 impasse des Lacs 62450 Bapaume. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
09/10/2009	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 8291 - 351005020 RCS. GPK PRODUCTS. Forme : Société à responsabilité limitée. Adresse : 1 impasse des Lacs 62450 Bapaume. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
11/08/2008	Bodacc C	Comptes annuels et rapports
62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 5820 - 351005020 RCS. GPK PRODUCTS. Forme : Société à responsabilité limitée. Adresse : 1 impasse des Lacs 62450 Bapaume. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
21/11/2007	Bodacc C	Avis de dépôt des comptes
5762 - 351 005 020. RCS Arras GPK PRODUCTS. Forme: Société à responsabilité limitée. Adresse du siège social: 1 impasse des Lacs 62450 Bapaume. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
24/12/2006	Bodacc C	Avis de dépôt des comptes
5422 - RCS Arras B 351 005 020. RC 93-B 133. GPK PRODUCTS. Forme: S.A.R.L.. Adresse du siège social: 1, impasse des Lacs,62450 Bapaume. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
06/07/2006	Bodacc A	Jugement lié aux créances
2701 - Avis de dépôt de l'état des créances . RCS Arras B 351 005 020. RC 93-B 133. GPK PRODUCTS. Forme : S.A.R.L. Adresse : 1 impasse des Lacs, 62450 Bapaume. Dépôt de l'état des créances au tribunal de commerce de : Arras , où les réclamations seront recevables dans un délai de quinze jours à compter de la date de la présente publication.
09/03/2006	Bodacc A	Rétractation de jugement
2117 - Date : 27 janvier 2006. Jugement arrêtant le plan de continuation . RCS Arras B 351 005 020. RC 93-B 133. GPK PRODUCTS. Forme : S.A.R.L. Adresse : 1 impasse des Lacs, 62450 Bapaume. Commissaire à l'exécution du plan : S.E.L.A.R.L. Gérard Duquesnoy. Adresse : 2 rue Jules-Ferry, 62000 Arras.
29/10/2005	Bodacc C	Avis de dépôt des comptes
3688 - RCS Arras B 351 005 020. RC 93-B 133. GPK PRODUCTS. Forme: S.A.R.L.. Adresse du siège social: 1, impasse des Lacs,62450 Bapaume. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
27/05/2005	Bodacc A	Redressement judiciaire
1997 - Date : 22 avril 2005. Jugement d'ouverture d'une procédure de redressement judiciaire (régime simplifié). RCS Arras B 351 005 020. RC 93-B 133. GPK PRODUCTS. Forme : S.A.R.L. Activité : négoce d'emballages industriels. Adresse : 1 impasse des Lacs, 62450 Bapaume. Représentant des créanciers : S.E.L.A.R.L. Gérard Duquesnoy. Adresse : 2 rue Jules-Ferry, 62000 Arras. Les déclarations de créances sont à déposer dans un délai de deux mois suivant la présente publication auprès du représentant des créanciers.
23/02/2005	Bodacc A	Appel du ministère public
1513 - Date : 18 janvier 2005. Arrêt de la cour d'appel de Douai infirmant le jugement rendu le 15 octobre 2004 par le tribunal de commerce d'Arras en ce qu'il avait prononcé l'ouverture d'une procédure de liquidation judiciaire sur résolution du plan et autorisant la poursuite de l'activité selon les conditions du plan de redressement fixé par jugement du 28 juillet 1995 auquel il a été ajouté une modification du plan RCS Arras B 351 005 020. S.A.R.L. GPK PRODUCTS. Forme : S.A.R.L. Adresse : 1 impasse des Lacs, 62450 Bapaume.
23/11/2004	Bodacc A	Autres jugements et ordonnances
Date: 15 octobre 2004. Jugement d' ouverture de liquidation judiciaire sur résolution du plan de continuation. RCS Arras B 351005020 RC 93-B 133 GPK PRODUITS. Forme : S.A.R.L. Activité : vente et négoce d'emballages industriels. Adresse : 1 impasse des Lacs, 62450 Bapaume Mandataire judiciaire à la liquidation des entreprises: S.E.L.A.R. L. Gérard Duquesnoy. Adresse : 2 rue Jules-Ferry, 62000 Arras Les déclarations de créances sont à déposer dans un délai de deux mois suivant la présente publication auprès du mandataire judiciaire à la liquidation des entreprises.
25/01/2000	Bodacc A	Autres jugements et ordonnances
Date: 10 décembre 1999 Le tribunal de commerce d'Arras a dit qu'il était mis fin aux fonctions de Me Darrousez-Coint avec effet au 31 décembre 1999 et a nommé en remplacement Me Duquesnoy ( Gérard), en qualité de commissaire à l' exécution du plan lequel entrera en fonction le 1er janvier 2000. RCS Arras B 351 005 020 RC 93-B 133 S.A.R.L. G.P. K. PRODUCT. Activité : vente et négoce d' emballages industriels. Adresse : 1 impasse des Lacs, 62450 Bapaume Commissaire à l'éxécution du plan: Me Duquesnoy Gérard. Adresse : 1 rue de l' Origan, parc des Bonnettes, 62000 Arras.
29/10/1995	Bodacc A	Autres jugements et ordonnances
Avis de dépot de l'état des créances. RCS Arras B 351 005 020 RC 93-B 133 G.P. K. PRODUCTS. Forme : S.A.R.L Nom commercial: G.P.K. Adresse : 1 impasse des Lacs 62450 Bapaume Dépot de l'état des créances au tribunal de commerce de: Arras , où les réclamations seront recevables dans un délai de quinze jours à compter de la date de la présente publication.
03/09/1995	Bodacc A	Autres jugements et ordonnances
Date: 28 juillet 1995. Jugement arretant le plan de continuation. RCS RCS Arras B 351 005 020 RC RC 93-B 133 G.P.K. PRODUCTS. Forme : S.A.R.L. Adresse : 1, impasse des Lacs 62450 Bapaume Commissaire à l'éxécution du plan: Me Darrousez-Coint. Adresse : parc des Bonnettes, immeuble B 800, 1, rue de l' Origan 62000 Arras.

Company events history

Date	Description
01/10/2012	Bodacc C : Deposit accounts notice
15/11/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
14/11/2011	Bodacc C : Deposit accounts notice
20/05/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
06/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
09/10/2009	Bodacc C : Deposit accounts notice
07/07/2009	Requête et Ordonnance
07/07/2009	Prorogation de durée
11/08/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
31/12/2006	New accounts available
06/07/2006	New collective procedure
09/03/2006	New collective procedure
31/12/2005	New accounts available
22/04/2005	New collective procedure
31/01/2005	New collective procedure
31/12/2004	New accounts available
23/11/2004	New collective procedure
31/12/2003	New accounts available
25/01/2000	New collective procedure
29/10/1995	New collective procedure
03/09/1995	New collective procedure
12/04/1995	PV d'Assemblée
12/04/1995	Continuation malgré perte supérieure à la moitié du capital
03/02/1994	Acte modificatif
03/02/1994	Statuts mis à jour
03/02/1994	PV d'Assemblée
03/02/1994	Déclaration de conformité
12/01/1994	Transfert du Siège dans le ressort du Tribunal de Commerce
12/01/1994	Transfert du Siège hors du ressort du Tribunal de Commerce
12/01/1994	PV d'Assemblée

Establishment events history

Date	Description
28/07/2012	Update Rating
28/07/2012	Update Limit
18/05/2012	Update of phone numbers
23/02/2012	Update of phone numbers
15/11/2011	Update Rating
10/10/2011	Update Rating
20/05/2011	Update Rating
27/09/2010	Update Limit
25/09/2010	Update Rating
09/05/2009	Update Rating
09/05/2009	Update Limit
31/01/2009	Update Limit
31/01/2009	Update Rating

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.97
UK Pound	1	Rs.83.67
Euro	1	Rs.67.19

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.