MIRA INFORM REPORT

Report Date :

16.11.2013

IDENTIFICATION DETAILS

Name :	MACHINES OUTILS SERVICES
Registered Office :	Mos, Av De L Europe, 68520 Burnhaupt Le Bas
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	February, 1989
Com. Reg. No.:	RCS Mulhouse B 349 689 836
Legal Form :	Simplified joint stock company
Line of Business :	Wholesale (intercompany trade) of machine tools
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES:

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

ECGC Country Risk Classification List – March, 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 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, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.8% of GDP in 2012, while France's public debt rose from 68% of GDP to 90% over the same period. Under President SARKOZY, Paris implemented some austerity measures 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. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Name

MACHINES OUTILS SERVICES

SIRET

349 689 836 00030

Personal comment

company summary

Acronym	MOS
		EUR VAT Number	FR67349689836
Activity (APE)	Wholesale (intercompany trade) of machine tools (4662Z)	Legal form	Simplified joint stock company
Phone	03 89 62 74 40	RCS Registration	RCS Mulhouse B 349 689 836
Fax	03 89 48 72 51
Address	MACHINES OUTILS SERVICES MOS AV DE L EUROPE 68520 BURNHAUPT LE BAS	Incorporated Date	02/1989
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Directors

Name	M. LINDER REMI
Manager position	President	Date of birth	05/07/1957
Place of birth	HEGENHEIM
Type	Individual	Name at birth

Previous Directors

No data about previous directors is available for this company

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

150,000 Euros

Shareholders

No Shareholders available for this company

PAYMENT INFORMATION

N/a

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

No group information available for the company

Linkages

No Linkages information available for the company

FINANCIAL INFORMATION

Trading to Date	12/31/2010	12/31/2009	12/31/2008
Turnover	2,663,347 €	2,424,154 €	3,357,724 €
Gross Operating Surplus	0,60 % Turnover	-2,14 % Turnover	-0,51 % Turnover
Shareholders’ equity	376,933 €	393,934 €	475,534 €
Net result	-17,002 €	-81,599 €	-20,730 €

accounts

Active Account |  Pass

ve 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
Date of capture	02/01/2012	15/02/2011	09/03/2010
Activity Code	4662Z	4662Z	4662Z
Employees	0	0	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	93 248	14,4%	81 520	-1,4%	82 647	23 308	300,1%
- Intangible assets	35 860	13,1%	31 720	20,6%	26 292	0	0%
- Tangible assets	25 179	32,7%	18 971	-29,8%	27 021	10 875	131,5%
- Financial assets	32 209	4,5%	30 829	5,1%	29 335	803	3911,1%
Net current assets	918 558	-10,9%	1 030 919	-23,4%	1 346 604	350 930	161,7%
- Stocks	348 421	-20,9%	440 608	-35,4%	681 636	67 436	416,7%
- Advanced payments	0	-10,9%	0	0%	0	0	0%
- Receivables	567 132	34,6%	421 232	-36,0%	658 624	129 786	337,0%
- Securities and cash	3 005	-98,2%	169 078	2565,2%	6 344	55 314	-94,6%
- Prepaid expenses	-	-	-	-	-	140	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	1 011 806	-9,0%	1 112 439	-22,2%	1 429 251	389 245	159,9%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Shareholders' equity	376 933	-4,3%	393 934	-17,2%	475 534	125 549	200,2%
Share capital	150 000	0%	150 000	0%	150 000	38 112	293,6%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	10 800	0%	0	0%	0	0	0%
Liabilities	624 073	-13,1%	718 505	-24,7%	953 718	219 417	184,4%
- Financial liabilities	198 724	9,2%	182 055	74,9%	104 093	19 107	940,1%
- Advanced payments received	0	0%	0	0%	5 000	0	0%
- Trade account payables	306 464	-20,4%	385 160	-40,5%	646 876	83 026	269,1%
- Tax and social liabilities	118 886	-21,4%	151 290	-23,5%	197 749	52 779,50	125,3%
- Other debts and fixed assets liabilities	0	0%	0	0%	0	2 707	0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	1 011 806	-9,0%	1 112 439	-22,2%	1 429 251	389 244	159,9%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Sales of Goods	2 669 912	10,1%	2 424 232	-29,2%	3 421 890	620 072	330,6%
Net turnover	2 663 347	9,9%	2 424 154	-27,8%	3 357 724	598 520	345,0%
- of which net export turnover	1 350 178	-6,8%	1 448 121	-30,1%	2 072 423	2 594	51950,0%
Operating charges	2 669 305	7,6%	2 480 266	-27,9%	3 439 158	611 346	336,6%
Operating profit/loss	607	101,1%	-56 034	-224,5%	-17 268	6 375	-90,5%
Financial income	1 400	-7,0%	1 505	-89,0%	13 737	66	2021,2%
Financial charges	23 441	-12,4%	26 746	59,6%	16 763	991	2265,4%
Financial profit/loss	-22 041	12,7%	-25 241	-734,1%	-3 026	-221	-9873,3%
Pretax net operating income	-21 434	73,6%	-81 275	-300,5%	-20 294	5 255	-507,9%
Extraordinary income	4 750	0%	0	0%	0	617	669,9%
Extraordinary charges	319	-1,5%	324	0%	0	264	20,8%
Extraordinary profit/loss	4 431	1467,6%	-324	0%	0	0	0%
Net result	-17 002	79,2%	-81 599	-293,6%	-20 730	6 428	-364,5%

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	1 011 806	-9,0%	1 112 439	-22,2%	1 429 251
Gross	CO	1 141 734	-7,2%	1 230 296	-19,4%	1 526 841
Amortisation	1A	129 928	10,2%	117 857	20,8%	97 590

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	93 248	14,4%	81 520	-1,4%	82 647
Gross	BJ	204 830	11,8%	183 186	5,9%	173 006
Amortisation	BK	111 582	9,8%	101 666	12,5%	90 359

Intangible 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	4 140	0%	0	0%	452
	Gross	AF	5 483	308,3%	1 343	0%	1 343
	Amortisation	AG	1 343	0%	1 343	50,6%	892
	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	31 720	0%	31 720	22,8%	25 840
	Gross	AJ	31 720	0%	31 720	22,8%	25 840
	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	35 860	13,1%	31 720	20,6%	26 292

Tangible 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	15 295	6,4%	14 370	-29,9%	20 513
Gross	AR	81 383	10,1%	73 916	2,0%	72 464
Amortisation	AS	66 088	11,0%	59 546	14,6%	51 951
Other tangible fixed assets	Net	9 884	114,8%	4 601	-29,3%	6 508
Gross	AT	54 035	19,1%	45 377	3,1%	44 024
Amortisation	AU	44 151	8,3%	40 776	8,7%	37 517
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	25 179		18 971		27 021

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	32 209	4,5%	30 829	5,1%	29 335
Gross	BH	32 209	4,5%	30 829	5,1%	29 335
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		32 209		30 829		29 335

Current Assets (III)

		31/12/2010		31/12/2009		31/12/2008
Total Assets	Net	918 558	-10,9%	1 030 919	-23,4%	1 346 604
Gross	CJ	936 904	-10,5%	1 047 111	-22,7%	1 353 835
Amortisation	CK	18 346	13,3%	16 191	123,9%	7 231

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	63 065	-2,3%	64 555	-19,8%	80 498
Gross	BN	63 065	-2,3%	64 555	-19,8%	80 498
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	285 356	-24,1%	376 053	-37,4%	601 138
Gross	BT	285 356	-24,1%	376 053	-37,4%	601 138
Amortisation	BU	0	0%	0	0%	0
Sub Total Stocks	Net	348 421	-20,9%	440 608	-35,4%	681 636

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	525 423	64,9%	318 548	-42,6%	554 951
Gross	BX	543 769	62,4%	334 739	-40,5%	562 182
Amortisation	BY	18 346	13,3%	16 191	123,9%	7 231
Other debtors	Net	18 249	-52,5%	38 401	-48,8%	74 965
Gross	BZ	18 249	-52,5%	38 401	-48,8%	74 965
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	543 672	52,3%	356 949	-43,3%	629 916

Divers

		31/12/2010		31/12/2009		31/12/2008
Investment securities	Net	3 005	0%	3 005	0%	3 005
Gross	CD	3 005	0%	3 005	0%	3 005
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	0	0%	166 073	4873,7%	3 339
Gross	CF	0	0%	166 073	4873,7%	3 339
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	3 005	-98,2%	169 078	2565,2%	6 344

Prepaid expenses

		31/12/2010		31/12/2009		31/12/2008
Prepaid expenses	Net	23 460	-63,5%	64 283	123,9%	28 708
Gross	CH	23 460	-63,5%	64 283	123,9%	28 708
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	0	0%	0	0%	0
Gross		0	0%	0	0%	0

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	1 011 806	-9,0%	1 112 439	-22,2%	1 429 251

Shareholder Equity (I)

		31/12/2010		31/12/2009		31/12/2008
Total shareholders' equity (Total I)	DL	376 933	-4,3%	393 934	-17,2%	475 534
Equity and shareholders' equity	DA	150 000	0%	150 000	0%	150 000
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	15 000	0%	15 000	0%	15 000
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	228 934	-26,3%	310 534	-6,3%	331 264
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	0	0%	0	0%	0
Profit or loss for the period	DI	-17 002	79,2%	-81 599	-293,6%	-20 730
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		31/12/2008
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	10 800	0%	0	0%	0
Risk provisions	DP	0	0%	0	0%	0
Reserves for charges	DQ	10 800	0%	0	0%	0

Liabilities (IV)

		31/12/2010		31/12/2009		31/12/2008
Total Liabilities (Total IV)	EC	624 073	-13,1%	718 505	-24,7%	953 718
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	198 724	12,7%	176 384	87,1%	94 272
Sundry loans and financial liabilities	DV	0	0%	5 671	-42,3%	9 821
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	0	0%	0	0%	5 000
Trade accounts payables	DX	306 464	-20,4%	385 160	-40,5%	646 876
Tax and social security liabilities	DY	118 886	-21,4%	151 290	-23,5%	197 749
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	0	0%	0	0%	0

Translation loss (V)

		31/12/2010		31/12/2009		31/12/2008
Translation loss (Total V)	ED	0	0%	0	0%	0

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	624 073	-13,1%	718 505	-24,3%	948 718
Of which current bank facilities	EH	194 690	13,7%	171 238	91,7%	89 333

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	607	101,1%	-56 034	-224,5%	-17 268

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	-22 041	12,7%	-25 241	-734,1%	-3 026

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	-21 434	73,6%	-81 275	-300,5%	-20 294

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	4 431	1467,6%	-324	0%	0

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	-17 002	79,2%	-81 599	-293,6%	-20 730

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	2 676 062	10,3%	2 425 737	-29,4%	3 435 627

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	2 693 064	7,4%	2 507 336	-27,5%	3 456 357

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income (Total I)	FR	2 669 912	10,1%	2 424 232	-29,2%	3 421 890

Operating income (details)

		31/12/2010		31/12/2009		31/12/2008
Sale of goods for resale	FC	2 177 190	3,5%	2 103 620	-26,3%	2 853 113
France	FA	925 655	26,5%	731 865	-19,3%	907 441
Export	FB	1 251 535	-8,8%	1 371 755	-29,5%	1 945 672
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	486 157	51,7%	320 534	-36,5%	504 611
France	FG	387 514	58,7%	244 168	-35,4%	377 860
Export	FH	98 643	29,2%	76 366	-39,8%	126 751
Net turnover	FL	2 663 347	9,9%	2 424 154	-27,8%	3 357 724
France	FJ	1 313 169	34,5%	976 033	-24,1%	1 285 301
Export	FK	1 350 178	-6,8%	1 448 121	-30,1%	2 072 423
Stocked production	FM	-1 490	90,7%	-15 943	-133,5%	47 641
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	0	0%	0	0%	0
Release of reserves and provisions	FP	8 055	-49,7%	16 021	-3,0%	16 525
Other income	FQ	0	0%	0	0%	0

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	2 669 305	7,6%	2 480 266	-27,9%	3 439 158

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	1 358 008	22,8%	1 106 161	-53,2%	2 365 570
Change in stocks of goods for resale	FT	90 697	-59,7%	225 085	190,8%	-247 936
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	556 240	7,8%	515 831	-11,7%	583 885
Tax, duty and similar payments	FX	47 923	-12,1%	54 550	-3,2%	56 346
Payroll	FY	394 932	5,2%	375 264	-15,4%	443 787
Social security costs	FZ	197 962	8,1%	183 108	-17,1%	220 853

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	9 917	-12,3%	11 307	-8,2%	12 319
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	2 155	-75,9%	8 960	0%	0
Provisions for risks and charges	GD	10 800	0%	0	0%	0

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	671	0%	0	0%	4 334

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	1 400	-7,0%	1 505	-89,0%	13 737
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	1 400	-7,0%	1 505	-89,0%	13 737
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	0	0%	0	0%	0
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/12/2010		31/12/2009		31/12/2008
Total financial charge (Total VI)	GU	23 441	-12,4%	26 746	59,6%	16 763
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	23 441	-12,4%	26 746	59,6%	16 763
Exchange losses	GS	0	0%	0	0%	0
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/12/2010		31/12/2009		31/12/2008
Total extraordinary income (Total VII)	HD	4 750	0%	0	0%	0
Extraordinary operating income	HA	0	0%	0	0%	0
Extraordinary income from capital transactions	HB	4 750	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	319	-1,5%	324	0%	0
Extraordinary operating charges	HE	319	-1,5%	324	0%	0
Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
Extraordinary reserves and provisions	HG	0	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	0	0%	0	0%	436

References

		31/12/2010		31/12/2009		31/12/2008
Of which equipment leases	HP	86 820	185,0%	30 464	0%	30 464
Of which property leases	HQ	0	0%	68 298	-19,6%	84 896
Of which transferred charges	A1	8 055	-49,7%	16 021	187,2%	5 579
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 incomes 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
Increases due to revaluation	OH	0	0%	0	0%	0
Decreases, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreases by budget item transfer	OK1	0	0%	0	0%	0
Decreases by transfers	OK2	0	0%	0	0%	0
Gross value at the end of period	OL	0	0%	183 182	5,9%	173 003

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
Increases due to revaluation	KB	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KC	0	0%	0	0%	0
Decreases by budget item transfer	C01	0	0%	0	0%	0
Decreases 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%	27 183	2,8%	26 433
Increases due to revaluation	KE	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KF	0	0%	5 880	685,0%	749
Decreases by budget item transfer	LV1	0	0%	0	0%	0
Decreases by transfers	LV2	0	0%	0	0%	0
Gross value at the end of period	LW	0	0%	33 063	21,6%	27 182

Tangible fixed assets (Total III)

		31/12/2010		31/12/2009		31/12/2008
Gross value at begin of period	LN	0	0%	116 487	22,6%	94 995
Increases due to revaluation	LO	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LP	0	0%	2 804	-87,0%	21 492
Decreases by budget item transfer	NG1	0	0%	0	0%	0
Decreases by transfers	NG2	0	0%	0	0%	0
Gross value at the end of period	NH	0	0%	119 291	2,4%	116 487

Financial assets (Total IV)

		31/12/2010		31/12/2009		31/12/2008
Gross value at begin of period	LQ	0	0%	29 334	53,9%	19 063
Increases due to revaluation	LR	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LS	0	0%	1 494	-85,5%	10 271
Decreases by budget item transfer	NJ1	0	0%	0	0%	0
Decreases by transfers	NJ2	0	0%	0	0%	0
Gross value at the end of period	NK	0	0%	30 828	5,1%	29 334

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
Decreases		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
Decreases		PC	0	0%	0	0%	0
	Decreases 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	1 343	50,7%	891	50,3%	593
Increases		PF	0	0%	451	51,9%	297
Decreases		PG	0	0%	0	0%	0
	Decreases by budget item transfer	PH	1 343	0,1%	1 342	50,8%	890

Total fixed assets amortisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	100 322	12,1%	89 466	15,5%	77 445
Increases		QV	9 915	-8,7%	10 854	-9,7%	12 020
Decreases		QW	0	0%	0	0%	0
	Decreases by budget item transfer	QX	110 237	9,9%	100 320	12,1%	89 465

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
	Decreases 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 beginning 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 beginning of period	7C	0	0%	7 231	0%	0
Increases		UB	0	0%	8 960	0%	0
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	0	0%	16 191	0%	0

Includes Total allocations

Operating	UE	0	0%	8 960	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%	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 beginning 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		31/12/2008
	Value at beginning 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		31/12/2008
	Value at beginning of period	7B	0	0%	7 231	-60,2%	18 177
Increases		TY	0	0%	8 960	0%	0
Decreases		TZ	0	0%	0	0%	10 946
	Value at the end of period	UA	0	0%	16 191	123,9%	7 231

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

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	617 685	31,9%	468 250	-32,6%	695 188
1 year at most	VU	585 476	25,0%	468 250	-32,6%	695 188
More than one year	VV	32 209	0%	0	0%	0

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	32 209	4,5%	30 829	5,1%	29 334
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	21 192	13,9%	18 613	135,7%	7 897
Other claims customer	UX	522 577	65,3%	316 125	-43,0%	554 285
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	8 121	0%	8 121	0%	8 121
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	5 221
Value added tax	VB	10 127	-51,1%	20 717	-66,4%	61 622
Other taxes and payments assimilated	VN	0	0%	9 562	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	0	0%	0	0%	0

Prepaid

		31/12/2010		31/12/2009		31/12/2008
Prepaid	VS	23 459	-63,5%	64 283	123,9%	28 708

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	624 071	-13,1%	718 502	-24,3%	948 716
1 year at most		VZ2	624 071	-13,1%	718 502	-24,3%	948 716
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	0	0%	176 383	87,1%	94 271
1 year at most		VG2	0	0%	176 383	87,1%	94 271
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	198 723	0%	0	0%	0
1 year at most		VH2	198 723	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	306 463	-20,4%	385 160	-40,5%	646 876
1 year at most		8B2	306 463	-20,4%	385 160	-40,5%	646 876
More than 1 year and 5 years at most		8B3	306 463	-20,4%	385 160	-40,5%	646 876
	Personnel and associated accounts (gross)	8C1	21 505	4,9%	20 500	-8,6%	22 436
1 year at most		8C2	21 505	4,9%	20 500	-8,6%	22 436
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	59 047	-39,8%	98 104	0,5%	97 644
1 year at most		8D2	59 047	-39,8%	98 104	0,5%	97 644
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	28 131	18,0%	23 832	-64,0%	66 263
1 year at most		VW2	28 131	18,0%	23 832	-64,0%	66 263
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	10 202	15,3%	8 852	-22,4%	11 405
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%	5 671	-42,3%	9 821
1 year at most		VI2	0	0%	5 671	-42,3%	9 821
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	0	0%	0	0%	0
1 year at most		8K2	0	0%	0	0%	0
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	0	0%	0	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	2,46	-10,9%	2,76	-17,9%	3,36	3,08	-20,1%
Global Debt	84 days	-21,5%	107 days	4,9%	102 days	125 days	-32,8%
Working Capital Fund overall net	40 days	-16,7%	48 days	9,1%	44 days	81 days	-50,6%
Financial independence	189,68%	-15,1%	223,34%	-55,7%	504,43%	823,54%	-77,0%
More ratios
Solvability	37,25%	5,2%	35,41%	6,4%	33,27%	37,62%	-1,0%
Capacity debt futures	189,68%	-15,1%	223,34%	-55,7%	504,43%	2447,64%	-92,3%
Coverage of current assets by net working capital overall	32,57%	-0,7%	32,79%	6,8%	30,69%	42,51%	-23,4%
General Liquidity	0,94	44,6%	0,65	-11,0%	0,73	0,76	23,7%
Restricted Liquidity	0,94	5,6%	0,89	20,3%	0,74	1,22	-23,0%

Management or rotation

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Need background in operating working capital	63 days	61,5%	39 days	-22,0%	50 days	38 days	65,8%
Treasury	-26 days	0%	0 days	0%	-9 days	21 days	-223,8%
Inventory turnover of goods	71 days	-30,4%	102 days	0%	102 days	81,50 days	-12,9%
Average length of credit granted to customers	74 days	48,0%	50 days	-16,7%	60 days	72 days	2,8%
Average length of credit obtained suppliers	55 days	-26,7%	75 days	-12,8%	86 days	67 days	-17,9%
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	1196 days	-
Rotation tangible assets	%	-	2032,13%	-29,5%	2882,49%	1305,81%	-

Profitability of the business

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Margin trading	27,35%	-14,2%	31,86%	45,5%	21,90	25,03%	9,3%
Profitability of the business	0,60	128,0%	-2,14	-319,6%	-0,51	2,33%	-74,2%
Net profit	-0,64%	81,0%	-3,37%	-443,5%	-0,62%	1,25%	-151,2%
More ratios
Growth rate of turnover (excluding VAT)	9,87%	135,5%	-27,80%	-325,5%	12,33%	0%	0%
Rates integration	24,66%	6,5%	23,15%	10,4%	20,96%	21,38%	15,3%
Rate leasing furniture	3,26%	158,7%	1,26%	38,5%	0,91%	0%	0%
Work Factor	90,25%	-9,3%	99,51%	5,4%	94,43%	77,92%	15,8%
Weight interests	0,88	-20,0%	1,10%	120,0%	0,50%	0,16%	450,0%

Return on capital

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Cash flow from the overall profitability	-0,44%	84,8%	-2,90%	-1060,0%	-0,25%	1,86%	-123,7%
Rates of economic profitability	3%	133,3%	-9%	-200%	-3%	8%	-62,5%
Financial profitability	376933%	-4,3%	393934%	-17,2%	475534%	107609%	250,3%
Return on investment	1,12%	111,8%	-9,52%	-1300%	-0,68%	6,11%	-81,7%

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	2 663 347	9,9%	2 424 154	-27,8%	3 357 724	598 520 €	345,0%

Sales of goods	2 177 190	3,5%	2 103 620	-26,3%	2 853 113
- Purchase of goods	1 358 008	22,8%	1 106 161	-53,2%	2 365 570
+/- Stock of goods variation	90 697	-59,7%	225 085	190,8%	-247 936
Trading margin	728 485 €	-5,7%	772 374 €	5,0%	735 479 €	139 416 €	422,5%
	27,35 % CA	-14,2%	31,86 % CA	45,5%	21,90 % CA	25,54 % CA	7,1%

Sale of goods produced	486 157	51,7%	320 534	-36,5%	504 611
+/- Stocked production	-1 490	90,7%	-15 943	-133,5%	47 641
+ Self-constructed assets	0	0%	0	0%	0
Period production	484 667 €	59,1%	304 591 €	-44,8%	552 252 €	68 864 €	603,8%
	18,20 % CA	44,9%	12,56 % CA	-23,6%	16,45 % CA	10,67 % CA	70,6%

Trading margin	728 485	-5,7%	772 374	5,0%	735 479	139 416	422,5%
+ Period Production	484 667	59,1%	304 591	-44,8%	552 252	68 864	603,8%
- 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	556 240	7,8%	515 831	-11,7%	583 885
Added value	656 912 €	17,1%	561 134 €	-20,3%	703 846 €	137 630 €	377,3%
	24,66 % CA	6,5%	23,15 % CA	10,4%	20,96 % CA	21,38 % CA	15,3%

Added value	656 912 €	17,1%	561 134 €	-20,3%	703 846 €	137 630 €	377,3%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	47 923	-12,1%	54 550	-3,2%	56 346
- Personal charges	592 894	6,2%	558 372	-16,0%	664 640
Gross operating surplus	16 095 €	131,1%	-51 788 €	-202,1%	-17 140 €	9 468 €	70,0%
	0,60 % CA	128,0%	-2,14 % CA	-319,6%	-0,51 % CA	2,33 % CA	-74,2%

Gross operating surplus	16 095 €	131,1%	-51 788 €	-202,1%	-17 140 €	9 468 €	70,0%
+ Release of reserves and provisions	8 055	-49,7%	16 021	-3,0%	16 525
+ Other operating income	0	0%	0	0%	0
- Depreciation/Amortisation	22 872	12,9%	20 267	64,5%	12 319
- Other charges	671	0%	0	0%	4 334
Operating result	607 €	101,1%	-56 034 €	-224,5%	-17 268 €	6 375 €	-90,5%
	0,02 % CA	100,9%	-2,31 % CA	-352,9%	-0,51 % CA	1,46 % CA	-98,6%

Operating result	607 €	101,1%	-56 034 €	-224,5%	-17 268 €	6 375 €	-90,5%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	1 400	-7,0%	1 505	-89,0%	13 737
- Financial charges	23 441	-12,4%	26 746	59,6%	16 763
Pre-tax result	-21 434 €	73,6%	-81 275 €	-300,5%	-20 294 €	5 255 €	-507,9%
	-0,80 % CA	76,1%	-3,35 % CA	-458,3%	-0,60 % CA	1,37 % CA	-158,4%

Extraordinary income	4 750	0%	0	0%	0	617	669,9%
- Extraordinary charges	319	-1,5%	324	0%	0
Extraordinary result	4 431 €	1467,6%	-324 €	0%	0 €	0 €	0%
	0,17 % CA	1800%	-0,01 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	-21 434 €	73,6%	-81 275 €	-300,5%	-20 294 €	5 255 €	-507,9%
Extraordinary result	4 431 €	1467,6%	-324 €	0%	0 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	0	0%	0	0%	436
Net result	-17 003 €	79,2%	-81 599 €	-293,6%	-20 730 €	6 429 €	-364,5%
	-0,64 % CA	81,0%	-3,37 % CA	-443,5%	-0,62 % CA	1,25 % CA	-151,2%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Company details

Activity (APE)	Wholesale (intercompany trade) of machine tools (4662Z)
RCS Registration	RCS Mulhouse B 349 689 836	Share capital	150,000 Euros
Registration Court	Mulhouse (68)	Legal form	Simplified joint stock company
Court Registry Number	89 B 00126	EUR VAT Number	FR67349689836
Incorporation Date	02/1989	Formation Date	02/1989
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Acronym	MOS
Activity (APE)	Wholesale (intercompany trade) of machine tools (4662Z)	Business Pages FT®
Postal Address	MACHINES OUTILS SERVICES MOS AV DE L EUROPE 68520 BURNHAUPT LE BAS	Trading Address	AVENUE DE L EUROPE 68520 BURNHAUPT LE BAS
Telephone	03 89 62 74 40
Fax	03 89 48 72 51

Type	Head office (one site company)	Status	Economically active
Formation Date	01/1998	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Haut-Rhin (68)	Region	Alsace
District	6	Area	03
City	BURNHAUPT LE BAS	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> MACHINES OUTILS SERVICES <<<  - Commerce de gros (commerce interentreprises) de machines-outils (4662Z)  in BURNHAUPT LE BAS  (68520)
Secondary establishments

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

10 to 19 employees

Company workforce

10 to 19 employees

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
14/01/2013	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE 2912 - 349689836 RCS. MACHINES OUTILS SERVICES. Forme : S.A.S. Adresse : Z.A., avenue de l'Europe, 68520 Burnhaupt-le-Bas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
25/01/2012	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE 3523 - 349689836 RCS. MACHINES OUTILS SERVICES. Forme : S.A.S. Adresse : Z.A., avenue de l'Europe, 68520 Burnhaupt-le-Bas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
21/03/2011	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE 2725 - 349689836 RCS. MACHINES OUTILS SERVICES. Forme : S.A.S. Adresse : Z.A., avenue de l'Europe, 68520 Burnhaupt-le-Bas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
18/12/2009	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE 3268 - 349689836 RCS. MACHINES OUTILS SERVICES. Forme : S.A.S. Adresse : Z.A., avenue de l'Europe, 68520 Burnhaupt-le-Bas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
22/01/2009	Bodacc C	Comptes annuels et rapports
68 - HAUT-RHIN GREFFE DU TRIBUNAL D'INSTANCE DE MULHOUSE 1382 - 349689836 RCS. MACHINES OUTILS SERVICES. Forme : S.A.S. Adresse : Z.A., avenue de l'Europe, 68520 Burnhaupt-le-Bas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
24/06/2007	Bodacc C	Avis de dépôt des comptes
2667 - Mulhouse B 349 689 836. RC 89-B 126. MACHINES OUTILS SERVICES. Forme: S.A.S. Adresse du siège social: Z.A., avenue de l'Europe,68520 Burnhaupt-le-Bas. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
22/01/2006	Bodacc C	Avis de dépôt des comptes
2548 - RCS Mulhouse B 349 689 836. RC 89-B 126. MACHINES OUTILS SERVICES. Forme: S.A.S. Adresse du siège social: Z.A., avenue de l'Europe,68520 Burnhaupt-le-Bas. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
25/02/2005	Bodacc C	Avis de dépôt des comptes
2088 - RCS Mulhouse B 349 689 836. RC 89-B 126. MACHINES OUTILS SERVICES. Forme: S.A.S. Adresse du siège social: Z.A., avenue de l'Europe,68520 Burnhaupt-le-Bas. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.
06/12/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Mulhouse B 349689836 RC 89-B 126 MACHINES-OUTILS SERVICES. Sigle : M.O.S. Forme : S.A.S. Capital : 750 000 F. Adresse : Z.A., avenue de l'Europe, 68520 Burnhaupt-le-Bas Nouvelle situation du siège social. Capital : 150 000 euros. Date d'effet : 21 septembre 2001.
27/02/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Mulhouse B 349689836 RC 89-B 126 Machines-Outils Services. Forme : S.A.R.L. Capital : 750 000 F (fixe). Adresse : Z.A., avenue de l'Europe, 68520 Burnhaupt-le- Bas Nouvelle situation du siège social. Forme : société par actions simplifiée. Administration : président : LINDER ( Rémi) commissaire aux comptes titulaire BECK (Jean-Claude) commissaire aux comptes suppléant : MUNCH (Maurice). Date d'effet : 28 décembre 2000.
14/04/1998	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS RCS Mulhouse B 349 689 836 RC RC 89-B 126 MACHINES OUTILS SERVICES. Sigle : MOS. Forme : S.A.R.L. Capital : 750 000 F (fixe). Adresse : 7, rue des Alpes 68200 Didenheim Nouvelle situation du siège social. Adresse : zone artisanale, avenue de l'Europe 68520 Burnhaupt-le-Bas. Date d'effet : 7 janvier 1998.
18/09/1996	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Mulhouse B 349 689 836 RC 89-B 126 MACHINES-OUTILS SERVICES. Forme : S.A.R.L. Capital : 50 000 F (fixe). Adresse : 7 rue des Alpes, 68200 Didenheim Nouvelle situation du siège social. Capital : 750 000 F. Date d'effet : 3 juin 1996.

Company events history

Date	Description
20/10/2013	Update Rating
20/10/2013	Update Limit
15/10/2013	Update Limit
14/01/2013	Bodacc C : Deposit accounts notice
25/01/2012	Bodacc C : Deposit accounts notice
05/01/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
21/03/2011	Bodacc C : Deposit accounts notice
31/12/2010	New accounts available
31/12/2009	New accounts available
18/12/2009	Bodacc C : Deposit accounts notice
22/01/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
31/12/2008	Update of Company Activity
31/12/2008	Modification of Company Activity
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
31/12/2004	New accounts available
31/12/2003	New accounts available
16/10/2001	Augmentation de Capital
16/10/2001	Conversion du Capital Social en Euros
16/10/2001	Acte sous seing privé
16/10/2001	PV d'Assemblée
16/10/2001	Statuts mis à jour
31/01/2001	Changement de Forme Juridique sans changement de catégorie
31/01/2001	Rapport des Commissaires ou du Gérant
31/01/2001	Nomination/démission des organes de gestion
31/01/2001	Acte sous seing privé
31/01/2001	Statuts mis à jour
31/01/2001	PV d'Assemblée
02/02/1998	PV d'Assemblée
02/02/1998	Acte sous seing privé
02/02/1998	Transfert du Siège dans le ressort du Tribunal de Commerce
02/02/1998	Statuts mis à jour
11/07/1996	Acte sous seing privé
11/07/1996	Augmentation de Capital
11/07/1996	Statuts mis à jour
11/07/1996	PV d'Assemblée
18/01/1996	Statuts mis à jour
18/01/1996	Acte sous seing privé
18/01/1996	PV d'Assemblée
18/01/1996	Cession de parts
18/12/1991	Statuts mis à jour
18/12/1991	Cession de parts
18/12/1991	Modification de l'objet social
18/12/1991	Déclaration de conformité
18/12/1991	PV d'Assemblée
18/12/1991	Acte sous seing privé

NOTES & COMMENTS

Commentary

The comments are ordered according to the class of risk. Companies are compared with regard to other companies of the same type. Thus a positive comment for one category can be negative for another or can change depending on its value. This is a purely statistical decision.

	The shareholder's equity is more than 250,000€
	Industry code with low risk rating
	The company is 24 years old
	The sales to current assets ratio is 2,9
	The ratio total assets to total liabilities is 1,59
	The debtor days are 77.72
	The tangible fixed assets are 25,179 €
	The pre-tax profit is less than 25,000€
	The deviation of shareholder's equity over the past two years is less than 75%
	The liquidity acid test is less than 65%
	The return on total assets employed is negative
	The deviation of the current ratio over the past two years is less than 80%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.06
UK Pound	1	Rs.101.15
Euro	1	Rs.84.95

INFORMATION DETAILS

Report Prepared by :

SDA

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.