MIRA INFORM REPORT

Report Date :

17.01.2014

IDENTIFICATION DETAILS

Name :	JEAN DE BRU
Registered Office :	Zi L'estagnol, Rue Joseph Michel Montgolfier, BP 1083, 11880, Carcassonne Cedex 09
Country :	France
Financials (as on) :	31.10.2012
Date of Incorporation :	January, 1957
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	Manufacture of agricultural and forestry machinery
No. of Employees :	31

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No complaints
Litigation :	Clear

NOTES :

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

ECGC Country Risk Classification List – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

JEAN DE BRU

SIRET

571 850 056 00011

Personal comment

company summary

EUR VAT Number	FR32571850056
Activity (APE)	Manufacture of agricultural and forestry machinery (2830Z)	Legal form	Simplified Joint Stock Company with Single Associate
Phone	04 68 11 74 00	RCS Registration	RCS Carcassonne 5 571 850 056
Fax
Address	JEAN DE BRU ZI L'ESTAGNOL RUE JOSEPH MICHEL MONTGOLFIER BP 1083 11880 CARCASSONNE CEDEX 09	Incorporated Date	02/1957
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Directors

Name	M. LECLERC MICHEL
Manager position	President	Date of birth	14/08/1949
Place of birth	DESTRY (57)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M MICHEL LECLERC	14/08/1949 - DESTRY

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

690,000 Euros

PAYMENT INFORMATION

N/a

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number
	EUROTECHNICS	435113279

Ultimate Parent

1 ultimate parent company for this company > EUROTECHNICS  - Activités des sociétés holding (6420Z)  in CARCASSONNE  (11000)

Group data

Ultimate parent company	EUROTECHNICS
Direct parent	EUROTECHNICS - Majoritaire
Group – Number of companies	5
Linkages – Number of companies	-
Number of countries	-

Group Structure

Company Name	SIREN	Parts	Last account published
EUROTECHNICS	435113279	-	31/10/2012
EUROTECHNICS-AGRI	491683520	Majority	31/10/2012
MECAFORM	322707795	Majority	31/12/2012
JEAN DE BRU	571850056	Majority	31/10/2012
SAS SUIRE	402609697	Majority	31/10/2012

Linkages

No Linkages information available for the company

FINANCIAL INFORMATION

Trading to Date	10/31/2012	10/31/2011	10/31/2010
Turnover	6,547,520 €	6,070,499 €	4,330,860 €
Gross Operating Surplus	4,50 % Turnover	2,33 % Turnover	-3,49 % Turnover
Shareholders’ equity	2,016,002 €	1,896,079 €	1,842,415 €
Net result	126,856 €	60,598 €	-99,259 €

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/10/2012	31/10/2011	31/10/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	30/04/2013	23/11/2012	13/07/2011
Activity Code	2830Z	2830Z	2830Z
Employees	31	28	25

Active account

Annual Accounts	31/10/2012		31/10/2011		31/10/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	463 822	-7,3%	500 514	-8,2%	545 192	123 603	275,3%
- Intangible assets	38	0%	38	0%	38	11 434	-99,7%
- Tangible assets	463 480	-7,3%	500 172	-8,2%	544 585	75 378	514,9%
- Financial assets	304	0%	304	-46,6%	569	1 280	-76,2%
Net current assets	4 626 755	5,9%	4 370 306	20,2%	3 634 554	817 584	465,9%
- Stocks	2 441 093	4,7%	2 331 071	1,8%	2 289 073	258 515	844,3%
- Advanced payments	0	5,9%	0	0%	0	0	0%
- Receivables	1 916 703	-0,8%	1 931 811	90,1%	1 016 315	262 539	630,1%
- Securities and cash	268 959	150,4%	107 424	-67,4%	329 166	109 555	145,5%
- Prepaid expenses	-	-	-	-	-	312	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	5 090 579	4,5%	4 870 823	16,5%	4 179 749	962 342	429,0%

Passive Account

Annual Accounts	31/10/2012		31/10/2011		31/10/2010	Sector Median 2012
Shareholders' equity	2 016 002	6,3%	1 896 079	2,9%	1 842 415	428 559	370,4%
Share capital	690 000	0%	690 000	0%	690 000	50 000	1280,0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	3 074 573	3,4%	2 974 740	27,3%	2 337 333	456 585	573,4%
- Financial liabilities	1 688 132	-0,3%	1 693 293	8,0%	1 567 820	110 449	1428,4%
- Advanced payments received	45 112	-72,1%	161 862	0%	0	0	0%
- Trade account payables	862 473	3,1%	836 561	61,5%	518 096	137 821	525,8%
- Tax and social liabilities	478 856	69,4%	282 656	24,4%	227 195	135 364	253,8%
- Other debts and fixed assets liabilities	0	0%	368	-98,5%	24 222	12 259	0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	5 090 579	4,5%	4 870 822	16,5%	4 179 749	962 341	429,0%

Results

Annual Accounts	31/10/2012		31/10/2011		31/10/2010	Sector Median 2012
Sales of Goods	6 737 761	13,7%	5 925 145	32,0%	4 487 469	1 489 565	352,3%
Net turnover	6 547 520	7,9%	6 070 499	40,2%	4 330 860	1 481 039	342,1%
- of which net export turnover	1 423 936	-27,4%	1 962 539	123,1%	879 771	0	0%
Operating charges	6 502 917	11,8%	5 817 313	24,9%	4 656 039	1 386 027	369,2%
Operating profit/loss	234 844	117,8%	107 832	164,0%	-168 570	51 617	355,0%
Financial income	979	-91,8%	11 894	-46,3%	22 151	715	36,9%
Financial charges	92 653	46,0%	63 449	-22,4%	81 743	4 248	2081,1%
Financial profit/loss	-91 674	-77,8%	-51 555	13,5%	-59 592	-1 549	-5818,3%
Pretax net operating income	143 170	154,4%	56 277	124,7%	-228 162	46 475	208,1%
Extraordinary income	47 768	219,9%	14 933	-97,7%	656 134	1 694	2719,8%
Extraordinary charges	64 081	504,0%	10 609	24572,1%	43	644	9850,5%
Extraordinary profit/loss	-16 313	-477,3%	4 324	-99,3%	656 091	0	0%
Net result	126 856	109,3%	60 598	161,1%	-99 259	43 677	190,4%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/10/2012	31/10/2011	31/10/2010
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

		31/10/2012		31/10/2011		31/10/2010
Grand Total (I to VI)	Net	5 090 579	4,5%	4 870 823	16,5%	4 179 749
Gross	CO	6 110 473	4,4%	5 853 091	12,0%	5 227 443
Amortisation	1A	1 019 894	3,8%	982 268	-6,2%	1 047 694

Non declared distributed capital (I)

		31/10/2012		31/10/2011		31/10/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/10/2012		31/10/2011		31/10/2010
Total Active fixed asset (II)	Net	463 822	-7,3%	500 514	-8,2%	545 192
Gross	BJ	1 421 134	-0,9%	1 434 664	-6,2%	1 529 287
Amortisation	BK	957 312	2,5%	934 150	-5,1%	984 095

Intangible fixed assets

			31/10/2012		31/10/2011		31/10/2010
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	0	0%	0
	Gross	AF	31 427	0%	31 427	-57,2%	73 350
	Amortisation	AG	31 427	0%	31 427	-57,2%	73 350
	Goodwill	Net	38	0%	38	0%	38
	Gross	AH	38	0%	38	0%	38
	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	38	0%	38	0%	38

Tangible fixed assets

		31/10/2012		31/10/2011		31/10/2010
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	463 473	-7,3%	500 081	-8,1%	544 410
Gross	AR	1 321 452	-0,9%	1 334 092	-0,9%	1 346 111
Amortisation	AS	857 979	2,9%	834 011	4,0%	801 701
Other tangible fixed assets	Net	07	-92,3%	91	-48,0%	175
Gross	AT	67 913	-1,3%	68 803	-37,0%	109 219
Amortisation	AU	67 906	-1,2%	68 712	-37,0%	109 044
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	463 480		500 172		544 585

Financial assets

		31/10/2012		31/10/2011		31/10/2010
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	304	0%	304	0%	304
Gross	BD	304	0%	304	0%	304
Amortisation	BE	0	0%	0	0%	0
Loans	Net	0	0%	0	0%	265
Gross	BF	0	0%	0	0%	265
Amortisation	BG	0		0		0
Other financial assets	Net	0	0%	0	0%	0
Gross	BH	0	0%	0	0%	0
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		304		304		569

Current Assets (III)

		31/10/2012		31/10/2011		31/10/2010
Total Assets	Net	4 626 755	5,9%	4 370 306	20,2%	3 634 554
Gross	CJ	4 689 336	6,1%	4 418 423	19,5%	3 698 152
Amortisation	CK	62 581	30,1%	48 117	-24,3%	63 598

Stocks

		31/10/2012		31/10/2011		31/10/2010
Raw materials	Net	1 736 681	-1,0%	1 753 684	16,4%	1 506 171
Gross	BL	1 763 480	-0,9%	1 780 301	16,2%	1 531 710
Amortisation	BM	26 799	0,7%	26 617	4,2%	25 539
Work in progress (goods)	Net	476 962	14,6%	416 138	-17,4%	503 633
Gross	BN	476 962	14,6%	416 138	-17,4%	503 633
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	227 450	41,1%	161 249	-42,3%	279 269
Gross	BR	255 450	39,8%	182 749	-40,7%	308 387
Amortisation	BS	28 000	30,2%	21 500	-26,2%	29 118
Goods for resale	Net	0	0%	0	0%	0
Gross	BT	0	0%	0	0%	0
Amortisation	BU	0	0%	0	0%	0
Sub Total Stocks	Net	2 441 093	4,7%	2 331 071	1,8%	2 289 073

Advance payments to suppliers

		31/10/2012		31/10/2011		31/10/2010
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

		31/10/2012		31/10/2011		31/10/2010
Trade accounts receivable	Net	1 533 734	-3,1%	1 582 010	73,9%	909 480
Gross	BX	1 541 516	-2,6%	1 582 010	72,3%	918 421
Amortisation	BY	7 782	0%	0	0%	8 941
Other debtors	Net	382 969	9,5%	349 801	227,4%	106 835
Gross	BZ	382 969	9,5%	349 801	227,4%	106 835
Amortisation	CA	0	0%	0	0%	0
Capital subscribed and called up	Net	0	0%	0	0%	0
Gross	CB	0	0%	0	0%	0
Amortisation	CC	0	0%	0	0%	0
Sub Total Debtors	Net	1 916 703	-0,8%	1 931 811	90,1%	1 016 315

Divers

		31/10/2012		31/10/2011		31/10/2010
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	268 959	150,4%	107 424	-67,4%	329 166
Gross	CF	268 959	150,4%	107 424	-67,4%	329 166
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	268 959	150,4%	107 424	-67,4%	329 166

Prepaid expenses

		31/10/2012		31/10/2011		31/10/2010
Prepaid expenses	Net	0	0%	0	0%	0
Gross	CH	0	0%	0	0%	0
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/10/2012		31/10/2011		31/10/2010
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

		31/10/2012		31/10/2011		31/10/2010
Due within one year	CP	0	0%	0	0%	265
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)

		31/10/2012		31/10/2011		31/10/2010
Grand Total (I to V)	EE	5 090 579	4,5%	4 870 822	16,5%	4 179 749

Shareholder Equity (I)

		31/10/2012		31/10/2011		31/10/2010
Total shareholders' equity (Total I)	DL	2 016 002	6,3%	1 896 079	2,9%	1 842 415
Equity and shareholders' equity	DA	690 000	0%	690 000	0%	690 000
Issue and merger premiums	DB	0	0%	0	0%	0
Revaluation differentials	DC	615	0%	615	0%	615
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	69 000	0%	69 000	0%	69 000
Statutory or contractual reserve	DE	1 056 440	6,1%	995 842	-25,1%	1 329 163
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	0	0%	0	0%	-234 061
Profit or loss for the period	DI	126 856	109,3%	60 598	161,1%	-99 259
Investment grants	DJ	73 091	-8,7%	80 024	-8,0%	86 957
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/10/2012		31/10/2011		31/10/2010
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)

		31/10/2012		31/10/2011		31/10/2010
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)

		31/10/2012		31/10/2011		31/10/2010
Total Liabilities (Total IV)	EC	3 074 573	3,4%	2 974 740	27,3%	2 337 333
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	1 686 228	-0,3%	1 691 893	8,1%	1 565 114
Sundry loans and financial liabilities	DV	1 904	36,0%	1 400	-48,3%	2 706
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	45 112	-72,1%	161 862	0%	0
Trade accounts payables	DX	862 473	3,1%	836 561	61,5%	518 096
Tax and social security liabilities	DY	478 856	69,4%	282 656	24,4%	227 195
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	0	0%	368	-98,5%	24 222

Translation loss (V)

		31/10/2012		31/10/2011		31/10/2010
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/10/2012		31/10/2011		31/10/2010
Deferred income	EB	0	0%	0	0%	0

References

		31/10/2012		31/10/2011		31/10/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	2 558 485	23,9%	2 065 680	55,5%	1 328 351
Of which current bank facilities	EH	938 045	37,4%	682 542	123,1%	305 986

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)

		31/10/2012		31/10/2011		31/10/2010
Operating result (Total I-II)	GG	234 844	117,8%	107 832	164,0%	-168 570

2 - Financial result (V - VI)

		31/10/2012		31/10/2011		31/10/2010
Financial result (Total V-VI)	GV	-91 674	-77,8%	-51 555	13,5%	-59 592

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

		31/10/2012		31/10/2011		31/10/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	143 170	154,4%	56 277	124,7%	-228 162

4 - Extraordinary result (VII-VIII)

		31/10/2012		31/10/2011		31/10/2010
Extraordinary result (Total VII-VIII)	HI	-16 313	-477,3%	4 324	-99,3%	656 091

Profit or loss

		31/10/2012		31/10/2011		31/10/2010
Profit or loss	HN	126 856	109,3%	60 598	161,1%	-99 259

Total Income (I+III+V+VII)

		31/10/2012		31/10/2011		31/10/2010
Total Income (I+III+V+VII)	HL	6 786 509	14,0%	5 951 972	28,3%	4 637 502

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

		31/10/2012		31/10/2011		31/10/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	6 659 652	13,0%	5 891 371	24,4%	4 736 761

Operating income (I)

		31/10/2012		31/10/2011		31/10/2010
Total operating income (Total I)	FR	6 737 761	13,7%	5 925 145	32,0%	4 487 469

Operating income (details)

		31/10/2012		31/10/2011		31/10/2010
Sale of goods for resale	FC	422 806	24,6%	339 334	-38,8%	554 127
France	FA	372 251	37,8%	270 176	-48,9%	528 256
Export	FB	50 555	-26,9%	69 158	167,3%	25 871
Sale of goods produced	FF	5 937 344	7,8%	5 509 290	52,8%	3 605 565
France	FD	4 595 125	25,1%	3 672 544	32,4%	2 773 008
Export	FE	1 342 219	-26,9%	1 836 746	120,6%	832 557
Sale of services	FI	187 369	-15,6%	221 875	29,6%	171 168
France	FG	156 208	-5,5%	165 240	10,3%	149 825
Export	FH	31 161	-45,0%	56 635	165,4%	21 343
Net turnover	FL	6 547 520	7,9%	6 070 499	40,2%	4 330 860
France	FJ	5 123 584	24,7%	4 107 960	19,0%	3 451 089
Export	FK	1 423 936	-27,4%	1 962 539	123,1%	879 771
Stocked production	FM	133 525	162,6%	-213 133	-304,3%	104 316
Self-constructed assets	FN	0	0%	0	0%	0
Operating grants	FO	6 150	0%	0	0%	0
Release of reserves and provisions	FP	49 708	-22,7%	64 281	24,6%	51 583
Other income	FQ	856	-75,5%	3 498	392,7%	710

Operating charges (II)

		31/10/2012		31/10/2011		31/10/2010
Total operating charges (Total II)	GF	6 502 917	11,8%	5 817 313	24,9%	4 656 039

Exploitation charges

		31/10/2012		31/10/2011		31/10/2010
Purchase of goods for resale	FS	0	0%	0	0%	219 341
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	3 393 248	5,0%	3 233 051	62,0%	1 995 927
Change in stocks of raw materials	FV	16 821	106,8%	-248 591	-788,2%	36 122
Other external purchases and charges	FW	1 685 043	-4,9%	1 772 279	27,8%	1 386 931
Tax, duty and similar payments	FX	87 739	41,3%	62 097	6,8%	58 128
Payroll	FY	855 796	28,6%	665 340	0,6%	661 229
Social security costs	FZ	353 653	52,4%	232 028	1,4%	228 729

Depreciation

		31/10/2012		31/10/2011		31/10/2010
Depreciation of fixed assets	GA	48 034	-6,9%	51 610	-3,5%	53 463
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	62 581	30,1%	48 117	199,3%	16 076
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/10/2012		31/10/2011		31/10/2010
Other charges	GE	0	0%	1 382	1452,8%	89

Operating charges (III-IV)

		31/10/2012		31/10/2011		31/10/2010
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)

		31/10/2012		31/10/2011		31/10/2010
Total financial income (Total V)	GP	979	-91,8%	11 894	-46,3%	22 151
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	285	0%	0	0%	0
Released provisions and transferred charges	GM	0	0%	0	0%	0
Exchange gains	GN	694	-94,2%	11 894	-46,3%	22 151
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/10/2012		31/10/2011		31/10/2010
Total financial charge (Total VI)	GU	92 653	46,0%	63 449	-22,4%	81 743
Financial reserves and provisions	GQ	0	0%	0	0%	0
Interest and similar charges	GR	64 540	1,7%	63 449	-19,8%	79 155
Exchange losses	GS	28 112	0%	0	0%	2 588
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

		31/10/2012		31/10/2011		31/10/2010
Total extraordinary income (Total VII)	HD	47 768	219,9%	14 933	-97,7%	656 134
Extraordinary operating income	HA	40 835	0%	0	0%	528 256
Extraordinary income from capital transactions	HB	6 933	-53,6%	14 933	-86,0%	106 933
Released provisions and transferred charges	HC	0	0%	0	0%	20 945

Extraordinary charges (VIII)

		31/10/2012		31/10/2011		31/10/2010
Total extraordinary charges (Total VIII)	HH	64 081	504,0%	10 609	24572,1%	43
Extraordinary operating charges	HE	64 081	504,0%	10 609	24572,1%	43
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)

		31/10/2012		31/10/2011		31/10/2010
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/10/2012		31/10/2011		31/10/2010
Tax on profits (Total X)	HK	0	0%	0	0%	-1 066

References

		31/10/2012		31/10/2011		31/10/2010
Of which equipment leases	HP	14 561	0%	0	0%	569
Of which property leases	HQ	0	0%	1 705	0%	0
Of which transferred charges	A1	1 591	204,2%	523	-98,3%	31 598
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)

		31/10/2012		31/10/2011		31/10/2010
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	24 872	-75,5%	101 661	0%	0
Gross value at the end of period	OL	1 421 136	-0,9%	1 434 666	0%	0

Research and development Charge (Total I)

		31/10/2012		31/10/2011		31/10/2010
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)

		31/10/2012		31/10/2011		31/10/2010
Gross value at begin of period	KD	31 465	-57,1%	73 388	0%	0
Increases due to revaluation	KE	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	KF	0	0%	0	0%	0
Decreases by budget item transfer	LV1	0	0%	0	0%	0
Decreases by transfers	LV2	0	0%	41 923	0%	0
Gross value at the end of period	LW	31 465	0%	31 465	0%	0

Tangible fixed assets (Total III)

		31/10/2012		31/10/2011		31/10/2010
Gross value at begin of period	LN	1 402 895	-3,6%	1 455 331	0%	0
Increases due to revaluation	LO	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LP	11 342	61,2%	7 037	0%	0
Decreases by budget item transfer	NG1	0	0%	0	0%	0
Decreases by transfers	NG2	24 872	-58,2%	59 472	0%	0
Gross value at the end of period	NH	1 389 365	-1,0%	1 402 896	0%	0

Financial assets (Total IV)

		31/10/2012		31/10/2011		31/10/2010
Gross value at begin of period	LQ	304	-46,7%	570	0%	0
Increases due to revaluation	LR	0	0%	0	0%	0
Increases, acquisitions, creations, contributions	LS	0	0%	0	0%	0
Decreases by budget item transfer	NJ1	0	0%	0	0%	0
Decreases by transfers	NJ2	0	0%	265	0%	0
Gross value at the end of period	NK	304	0%	304	0%	0

Reserve for depreciation

Situation and movement of reserve for depreciation

Grand total (I-II-III)

			31/10/2012		31/10/2011		31/10/2010
	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)

			31/10/2012		31/10/2011		31/10/2010
	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)

			31/10/2012		31/10/2011		31/10/2010
	Reserve for depreciation value at begin of period	PE	31 427	-57,2%	73 350	0%	0
Increases		PF	0	0%	0	0%	0
Decreases		PG	0	0%	41 923	0%	0
	Decreases by budget item transfer	PH	31 427	0%	31 427	0%	0

Total fixed assets amortisation (Total III)

			31/10/2012		31/10/2011		31/10/2010
	Reserve for depreciation value at begin of period	QU	902 724	-0,9%	910 745	0%	0
Increases		QV	48 034	-6,9%	51 610	0%	0
Decreases		QW	24 872	-58,2%	59 472	0%	0
	Decreases by budget item transfer	QX	925 885	2,5%	902 883	0%	0

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/10/2012		31/10/2011		31/10/2010
	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

			31/10/2012		31/10/2011		31/10/2010
	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)

			31/10/2012		31/10/2011		31/10/2010
	Value at beginning of period	7C	48 117	-24,3%	63 598	0%	0
Increases		UB	62 581	30,1%	48 117	0%	0
Decreases		UC	48 117	-24,3%	63 598	0%	0
	Value at the end of period	UD	62 581	30,1%	48 117	0%	0

Includes Total allocations

Operating	UE	62 581	30,1%	48 117	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	48 117	-24,3%	63 598	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/10/2012		31/10/2011		31/10/2010
	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)

			31/10/2012		31/10/2011		31/10/2010
	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)

			31/10/2012		31/10/2011		31/10/2010
	Value at beginning of period	7B	48 117	-24,3%	63 598	0%	0
Increases		TY	62 581	30,1%	48 117	0%	0
Decreases		TZ	48 117	-24,3%	63 598	0%	0
	Value at the end of period	UA	62 581	30,1%	48 117	0%	0

State deadlines claims and debts at the end of period

State claims

		31/10/2012		31/10/2011		31/10/2010
Gross value	VT	1 924 486	-0,4%	1 931 812	88,4%	1 025 522
1 year at most	VU	1 924 486	-0,4%	1 931 812	88,4%	1 025 522
More than one year	VV	0	0%	0	0%	0

State of loans

		31/10/2012		31/10/2011		31/10/2010
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%	265
Loans (1 year at most)	UR	0	0%	0	0%	265
Other financial assets (gross)	UT	0	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/10/2012		31/10/2011		31/10/2010
Customers doubtful or disputed	VA	28 083	0%	0	0%	8 941
Other claims customer	UX	1 513 433	-4,3%	1 582 010	73,9%	909 481
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%	350
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	3 990	-92,7%	55 028	309,8%	13 428
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	352 542	1495,1%	22 102	-69,8%	73 182
Accounts receivable (including claims relating to the operation of pension titles)	VR	26 437	-90,3%	272 671	1272,0%	19 874

Prepaid

		31/10/2012		31/10/2011		31/10/2010
Prepaid	VS	0	0%	0	0%	0

State Debt

			31/10/2012		31/10/2011		31/10/2010
	Total debt (gross)	VY	3 029 463	7,7%	2 812 880	20,3%	2 337 335
1 year at most		VZ2	2 558 487	23,9%	2 065 680	55,5%	1 328 351
More than 1 year and 5 years at most		VZ3	392 750	-36,5%	618 879	-21,9%	792 179
More than 5 years		VZ4	78 226	-39,0%	128 321	-40,8%	216 805

Details

			31/10/2012		31/10/2011		31/10/2010
	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	938 045	37,4%	682 542	123,1%	305 986
1 year at most		VG2	938 045	37,4%	682 542	123,1%	305 986
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	748 182	-25,9%	1 009 350	-19,8%	1 259 127
1 year at most		VH2	277 206	5,7%	262 150	4,8%	250 143
More than 1 year and 5 years at most		VH3	392 750	-36,5%	618 879	-21,9%	792 179
	Loans and various financial liabilities (gross)	8A1	1 904	36,0%	1 400	-48,3%	2 706
1 year at most		8A2	1 904	36,0%	1 400	-48,3%	2 706
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	862 473	3,1%	836 561	61,5%	518 096
1 year at most		8B2	862 473	3,1%	836 561	61,5%	518 096
More than 1 year and 5 years at most		8B3	862 473	3,1%	836 561	61,5%	518 096
	Personnel and associated accounts (gross)	8C1	87 993	-18,6%	108 114	12,3%	96 235
1 year at most		8C2	87 993	-18,6%	108 114	12,3%	96 235
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	198 382	56,1%	127 097	62,2%	78 350
1 year at most		8D2	198 382	56,1%	127 097	62,2%	78 350
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	129 940	1407,8%	8 618	-54,0%	18 731
1 year at most		VW2	129 940	1407,8%	8 618	-54,0%	18 731
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	62 540	61,1%	38 826	14,6%	33 876
1 year at most		VQ2	62 540	61,1%	38 826	14,6%	33 876
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	368	-98,5%	24 223
1 year at most		8K2	0	0%	368	-98,5%	24 223
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

		31/10/2012		31/10/2011		31/10/2010
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	261 168	4,8%	249 277	4,0%	239 700

Table allocation results and other information

Dividends distributed

		31/10/2012		31/10/2011		31/10/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/10/2012		31/10/2011		31/10/2010
Commitments leasing furniture	YQ	36 896	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

		31/10/2012		31/10/2011		31/10/2010
Subcontracting	YT	59 858	51,5%	39 508	69,7%	23 287
Rentals, rental charges and condominiums	XQ	142 240	0,6%	141 337	9,3%	129 360
Staff outside the company	YU	85 330	-37,9%	137 308	1541,7%	8 364
Remuneration intermediaries and fees (excluding fees)	SS	722 318	-11,8%	818 781	0,4%	815 549
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	675 295	6,3%	635 343	54,8%	410 369
Total Other purchases and external	ZJ	1 685 041	2613,6%	1 772 277	27,8%	1 386 929

Taxes and Fees

		31/10/2012		31/10/2011		31/10/2010
Business tax	YW	0	0%	0	0%	28 760
Other taxes and payments assimilated	9Z	87 739	41,3%	62 097	111,4%	29 368
Total taxes and fees	YX	87 739	41,3%	62 097	6,8%	58 128

VAT

		31/10/2012		31/10/2011		31/10/2010
Amount VAT collected	YY	1 046 968	37,7%	760 406	19,1%	638 295
Total VAT on goods and services	YZ	758 166	5,0%	722 031	35,7%	532 234

Average number of employees

		31/10/2012		31/10/2011		31/10/2010
Average number of employees	YP	31	10,7%	28	12,0%	25

Groups and Shareholders

		31/10/2012		31/10/2011		31/10/2010
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

	31/10/2012		31/10/2011		31/10/2010	Sector Median 2012
Fixed Asset Financing	2,62	-2,2%	2,68	0,4%	2,67	1,95	34,4%
Global Debt	169 days	-4,0%	176 days	-9,3%	194 days	120 days	40,8%
Working Capital Fund overall net	127 days	-11,2%	143 days	-32,9%	213 days	96 days	32,3%
Financial independence	119,56%	6,7%	112,07%	-4,8%	117,72%	492,59%	-75,7%
More ratios
Solvability	39,60%	1,7%	38,93%	-11,7%	44,08%	45,98%	-13,9%
Capacity debt futures	165,89%	-17,3%	200,71%	-39,4%	331,29%	1323,70%	-87,5%
Coverage of current assets by net working capital overall	49,10%	-9,8%	54,46%	-21,3%	69,20%	51,76%	-5,1%
General Liquidity	0,75	-20,2%	0,94	22,1%	0,77	0,70	7,1%
Restricted Liquidity	0,86	-13,1%	0,99	-2,9%	1,02	1,09	-21,1%

Management or rotation

	31/10/2012		31/10/2011		31/10/2010	Sector Median 2012
Need background in operating working capital	163 days	-7,9%	177 days	-16,1%	211 days	56,50 days	188,5%
Treasury	-37 days	-8,8%	-34 days	-1800%	2 days	17 days	-317,6%
Inventory turnover of goods	days	-	days	-	0 days	71,50 days	-
Average length of credit granted to customers	73 days	-12,0%	83 days	23,9%	67 days	57 days	28,1%
Average length of credit obtained suppliers	53 days	-3,6%	55 days	22,2%	45 days	55 days	-3,6%
More ratios
Inventory turnover of raw materials in industrial enterprises	184 days	-5,2%	194 days	-28,9%	273 days	84,50 days	117,8%
Inventory turnover of intermediate and finished products in the industrial enterprise	471 days	8,8%	433 days	-	days	427 days	10,3%
Rotation tangible assets	471,26%	8,9%	432,71%	-	%	413,92%	13,9%

Profitability of the business

	31/10/2012		31/10/2011		31/10/2010	Sector Median 2012
Margin trading	6,46%	15,6%	5,59%	-27,7%	7,73	0,62%	941,9%
Profitability of the business	4,50	93,1%	2,33	166,8%	-3,49	5,75%	-21,7%
Net profit	1,94%	94,0%	1%	143,7%	-2,29%	3,22%	-39,8%
More ratios
Growth rate of turnover (excluding VAT)	7,86%	-80,4%	40,17%	402,9%	-13,26%	6,85%	14,7%
Rates integration	24,22%	33,6%	18,13%	-1,5%	18,40%	32,20%	-24,8%
Rate leasing furniture	0,22%	0%	0%	0%	0,01%	0%	0%
Work Factor	76,26%	-6,5%	81,53%	-27,0%	111,68%	75,15%	1,5%
Weight interests	1,42	35,2%	1,05%	-44,4%	1,89%	0,30%	373,3%

Return on capital

	31/10/2012		31/10/2011		31/10/2010	Sector Median 2012
Cash flow from the overall profitability	1,83%	232,7%	0,55%	115,6%	-3,53%	4,94%	-63,0%
Rates of economic profitability	8%	100%	4%	200%	-4%	14%	-42,9%
Financial profitability	2016002%	6,3%	1896079%	2,9%	1842415%	382924%	426,5%
Return on investment	5,93%	71,4%	3,46%	778,4%	-0,51%	9,39%	-36,8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/10/2012		31/10/2011		31/10/2010	Sector Median 2012
Turnover	6 547 520	7,9%	6 070 499	40,2%	4 330 860	1 481 039 €	342,1%

Sales of goods	422 806	24,6%	339 334	-38,8%	554 127
- Purchase of goods	0	0%	0	0%	219 341
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	422 806 €	24,6%	339 334 €	1,4%	334 786 €	6 264 €	6649,8%
	6,46 % CA	15,6%	5,59 % CA	-27,7%	7,73 % CA	1,19 % CA	442,9%

Sale of goods produced	6 124 713	6,9%	5 731 165	51,7%	3 776 733
+/- Stocked production	133 525	162,6%	-213 133	-304,3%	104 316
+ Self-constructed assets	0	0%	0	0%	0
Period production	6 258 238 €	13,4%	5 518 032 €	42,2%	3 881 049 €	1 026 173 €	509,9%
	95,58 % CA	5,1%	90,90 % CA	1,4%	89,61 % CA	95,58 % CA	0%

Trading margin	422 806	24,6%	339 334	1,4%	334 786	6 264	6649,8%
+ Period Production	6 258 238	13,4%	5 518 032	42,2%	3 881 049	1 026 173	509,9%
- Purchase of raw materials	3 393 248	5,0%	3 233 051	62,0%	1 995 927
+/- Change in stocks of raw materiels	16 821	106,8%	-248 591	-788,2%	36 122
- Other external purchases and charges	1 685 043	-4,9%	1 772 279	27,8%	1 386 931
Added value	1 585 932 €	44,1%	1 100 627 €	38,1%	796 855 €	501 100 €	216,5%
	24,22 % CA	33,6%	18,13 % CA	-1,5%	18,40 % CA	32,20 % CA	-24,8%

Added value	1 585 932 €	44,1%	1 100 627 €	38,1%	796 855 €	501 100 €	216,5%
+ Operating grants	6 150	0%	0	0%	0
- Tax, duty and similar payments	87 739	41,3%	62 097	6,8%	58 128
- Personal charges	1 209 449	34,8%	897 368	0,8%	889 958
Gross operating surplus	294 894 €	108,9%	141 162 €	193,3%	-151 231 €	78 150 €	277,3%
	4,50 % CA	93,1%	2,33 % CA	166,8%	-3,49 % CA	5,75 % CA	-21,7%

Gross operating surplus	294 894 €	108,9%	141 162 €	193,3%	-151 231 €	78 150 €	277,3%
+ Release of reserves and provisions	49 708	-22,7%	64 281	24,6%	51 583
+ Other operating income	856	-75,5%	3 498	392,7%	710
- Depreciation/Amortisation	110 615	10,9%	99 727	43,4%	69 539
- Other charges	0	0%	1 382	1452,8%	89
Operating result	234 843 €	117,8%	107 832 €	164,0%	-168 566 €	51 618 €	355,0%
	3,59 % CA	101,7%	1,78 % CA	145,8%	-3,89 % CA	3,98 % CA	-9,8%

Operating result	234 843 €	117,8%	107 832 €	164,0%	-168 566 €	51 618 €	355,0%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	979	-91,8%	11 894	-46,3%	22 151
- Financial charges	92 653	46,0%	63 449	-22,4%	81 743
Pre-tax result	143 169 €	154,4%	56 277 €	124,7%	-228 158 €	46 475 €	208,1%
	2,19 % CA	135,5%	0,93 % CA	117,6%	-5,27 % CA	3,84 % CA	-43,0%

Extraordinary income	47 768	219,9%	14 933	-97,7%	656 134	1 694	2719,8%
- Extraordinary charges	64 081	504,0%	10 609	24572,1%	43
Extraordinary result	-16 313 €	-477,3%	4 324 €	-99,3%	656 091 €	0 €	0%
	-0,25 % CA	-457,1%	0,07 % CA	-99,5%	15 % CA	0 % CA	0%

Pre-tax result	143 169 €	154,4%	56 277 €	124,7%	-228 158 €	46 475 €	208,1%
Extraordinary result	-16 313 €	-477,3%	4 324 €	-99,3%	656 091 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	0	0%	0	0%	-1 066
Net result	126 856 €	109,3%	60 601 €	-85,9%	428 999 €	43 710 €	190,2%
	1,94 % CA	94,0%	1,00 % CA	-89,9%	9,91 % CA	3,26 % CA	-40,5%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Company details

Activity (APE)	Manufacture of agricultural and forestry machinery (2830Z)
RCS Registration	RCS Carcassonne 5 571 850 056	Share capital	690,000 Euros
Registration Court	Carcassonne (11)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	19 5 7B00005	EUR VAT Number	FR32571850056
Incorporation Date	02/1957	Formation Date	01/1957
Deregistration Date		Last account Date	31/10/2012
Nationality	France

Establishment details

Activity (APE)	Manufacture of agricultural and forestry machinery  (2830Z)	Business Pages FT®	LOCATION DE MATERIEL AGRICOLE
Postal Address	JEAN DE BRU ZI L'ESTAGNOL RUE JOSEPH MICHEL MONTGOLFIER BP 1083 11880 CARCASSONNE CEDEX 09	Trading Address	RUE JOSEPH MICHEL MONTGOLFIER 11000 CARCASSONNE
Telephone	04 68 11 74 00
Fax

Type	Head office (one site company)	Status	Economically active
Formation Date	01/1957	Reason for formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Aude (11)	Region	Languedoc-Roussillon
District	1	Area	98
City	CARCASSONNE	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> JEAN DE BRU <<<  - Fabrication de machines agricoles et forestières (2830Z)  in CARCASSONNE  (11000)
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

20 to 49 employees

Company workforce

20 to 49 employees

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
21/05/2013	Bodacc C	Comptes annuels et rapports
11 - AUDE GREFFE DU TRIBUNAL DE COMMERCE DE CARCASSONNE 1157 - 571850056 RCS. JEAN DE BRU. Forme : Société par actions simplifiée. Adresse : rue Montgolfier 11000 Carcassonne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2012.
19/10/2012	Bodacc C	Comptes annuels et rapports
11 - AUDE GREFFE DU TRIBUNAL DE COMMERCE DE CARCASSONNE 2454 - 571850056 RCS. JEAN DE BRU. Forme : Société par actions simplifiée. Adresse : rue Montgolfier 11000 Carcassonne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2011.
06/08/2010	Bodacc B	Modification et mutation diverse
11 - AUDE GREFFE DU TRIBUNAL DE COMMERCE DE CARCASSONNE 80 - 571 850 056 RCS Carcassonne. JEAN DE BRU. Forme : Société par actions simplifiée. Administration : Président : LECLERC Michel Commissaire aux comptes titulaire : CATALA Françoise Commissaire aux comptes suppléant : BESSE Jean-Charles. Commentaires : Modification survenue sur l'administration.
19/07/2010	Bodacc C	Comptes annuels et rapports
11 - AUDE GREFFE DU TRIBUNAL DE COMMERCE DE CARCASSONNE 694 - 571850056 RCS. JEAN DE BRU. Forme : Société par actions simplifiée. Adresse : rue Montgolfier 11000 Carcassonne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2009.
08/08/2009	Bodacc C	Comptes annuels et rapports
11 - AUDE GREFFE DU TRIBUNAL DE COMMERCE DE CARCASSONNE 919 - 571850056 RCS. JEAN DE BRU. Forme : Société par actions simplifiée. Adresse : rue Montgolfier 11000 Carcassonne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2008.
21/08/2008	Bodacc C	Comptes annuels et rapports
11 - AUDE GREFFE DU TRIBUNAL DE COMMERCE DE CARCASSONNE 541 - 571850056 RCS. JEAN DE BRU. Forme : Société par actions simplifiée. Adresse : rue Montgolfier 11000 Carcassonne. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/10/2007.
26/05/2007	Bodacc C	Avis de dépôt des comptes
918 - RCS Carcassonne B 571 850 056. RC 57-B 5. JEAN DE BRU. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: rue Montgolfier,11000 Carcassonne. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2006.
11/05/2006	Bodacc C	Avis de dépôt des comptes
606 - RCS Carcassonne B 571 850 056. RC 57-B 5. JEAN DE BRU. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: rue Montgolfier,11000 Carcassonne. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2005.
10/05/2005	Bodacc C	Avis de dépôt des comptes
818 - RCS Carcassonne B 571 850 056. RC 57-B 5. JEAN DE BRU. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: rue Montgolfier,11000 Carcassonne. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2004.
28/08/2002	Bodacc B	Modifications et mutations diverses
RCS Carcassonne B 571850056 RC 57-B 5 JEAN DE BRU S.A. Forme : S.A.S. unipersonnelle. Capital : 690 000 euros. Adresse du siège social : rue Montgolfier, 11000 Carcassonne. Commentaires : modification survenue sur la forme juridique, le capital ( augmentation et conversion en euros) et l'administration. Administration : président : LECLERC (Michel) ( Nom d' usage : LECLERC). Commissaire aux comptes : CARRIERE (Patrick) ( Nom d' usage : CARRIERE). Commissaire aux comptes suppléant : FRAYSSE (Jacques) ( Nom d'usage : FRAYSSE). Date d'effet : 28 juin 2002.
09/07/2002	Bodacc B	Modifications et mutations diverses
RCS Carcassonne B 571850056 RC 57-B 5 JEAN DE BRU S.A. Forme : S.A. Capital : 686 020,58 euros. Adresse du siège social : rue Montgolfier, 11000 Carcassonne. Commentaires : modification survenue sur l'administration. Administration : P.-D.G. LECLERC (Michel) ( Nom d'usage : LECLERC). Administrateurs : CAZALS ( Alain) ( Nom d'usage : CAZALS) LOIRAT (Joelle) ( Nom d'usage : LECLERC). Commissaire aux comptes : PRICE WATERHOUSE. Commissaire aux comptes suppléant : CARRIERE (Patrick) ( Nom d'usage : CARRIERE). Date d'effet : 27 février 2002.
31/08/2000	Bodacc B	Modifications et mutations diverses
RCS Carcassonne B 571850056 RC 57-B 5 JEAN DE BRU S.A. Forme : S.A. Capital : 4 500 000 F. Adresse du siège social : rue Montgolfier, 11000 Carcassonne. Commentaires : modification survenue sur l'administration. Administration : P.-D.G. LARSEN (Eirick) ( Nom d'usage : LARSEN) . Administrateurs : KVERNELAND EUROPE B. V, représentée par SAINT-MARTIN ( Philippe) ( Nom d'usage : SAINT-MARTIN) KVERNELAND HOLDING U.K., représentée par HERNES (Arnstein) ( Nom d'usage : HERNES) STE KVERNELAND HOLDING D.K., représentée par SKAARLAND (Anne) ( Nom d'usage : SKAARLAND). Commissaire aux comptes : PRICE WATERHOUSE. Commissaire aux comptes suppléant : CABINET JACQUES BOULLIER S.A.R.L. Date d'effet : 21 juin 2000.
02/07/2000	Bodacc B	Modifications et mutations diverses
RCS Carcassonne B 571850056 RC 57-B 5 JEAN DE BRU S.A. Forme : S.A. Capital : 4 500 000 F. Adresse du siège social : rue Montgolfier, 11000 Carcassonne. Commentaires : modification survenue sur l'administration. Administration : président du conseil d'administration : MARCHAND (Jean, Luc) ( Nom d'usage : MARCHAND). Administrateurs : KVERNELAND EUROPE B.V., représentée par LARSEN ( Eirik) ( Nom d'usage : LARSEN) KVERNELAND HOLDING U.K., représentée par HERNES (Arnstein) ( Nom d'usage : HERNES) STE KVERNELAND HOLDING D.K., représentée par SKAARLAND (Anne) ( Nom d'usage : SKAARLAND). Commissaire aux comptes : PRICE WATERHOUSE. Commissaire aux comptes suppléant : CABINET JACQUES BOULLIER S.A.R.L. Date d'effet : 20 mars 2000.
15/12/1999	Bodacc B	Modifications et mutations diverses
RCS Carcassonne B 571850056 RC 57-B 5 JEAN DE BRU S.A. Forme : S.A. Adresse du siège social : rue Montgolfier, 11000 Carcassonne. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration : MARCHAND (Jean, Luc) ( Nom d'usage : MARCHAND). Directeur général : LECLERC (Michel) ( Nom d' usage : LECLERC). Administrateurs : KVERNELAND EUROPE B.V., représentée par LARSEN (Eirik) ( Nom d'usage : LARSEN) KVERNELAND HOLDING U.K., représentée par HERNES (Arnstein) ( Nom d'usage : HERNES). Commissaire aux comptes : PRICE WATERHOUSE. Commissaire aux comptes suppléant : CABINET JACQUES BOULLIER S.A.R.L. Date d'effet : 30 juin 1999.
17/10/1999	Bodacc B	Modifications et mutations diverses
RCS Carcassonne B 571850056 RC 57-B 5 JEAN DE BRU S.A. Forme : S.A. Adresse du siège social : rue Montgolfier, 11000 Carcassonne. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration : MARCHAND (Jean, Luc) ( Nom d'usage : MARCHAND). Directeur général : LECLERC (Michel) ( Nom d' usage : LECLERC). Administrateur : JOHANNES RAU GmbH, représentée par SCHMID (Stefan) ( Nom d'usage : SCHMID) . Commissaire aux comptes : CABINET JACQUES BOULLIER S.A.R.L. Commissaire aux comptes suppléant : CABINET JEAN- JACQUES BECOUZE S.A. Date d'effet : 28 avril 1999.
26/09/1998	Bodacc B	Modifications et mutations diverses
RCS Carcassonne B 571850056 RC 57-B 5 JEAN DE BRU S.A. Forme : S.A. Capital : 4 500 000 F (fixe). Adresse du siège social : rue Montgolfier, 11000 Carcassonne. Administration : ancien commissaire aux comptes titulaire : SOCIETE FIDULOR représentée par TAILLANDIER nouveau commissaire aux comptes titulaire : CABINET BOULLIER ( Jacques) S.A.R.L. ancien commissaire aux comptes suppléant : PONS (François) nouveau commissaire aux comptes suppléant : CABINET BECOUZE (Jean- Jacques) S.A. Date d'effet : 24 juin 1998.
11/09/1997	Bodacc B	Modifications et mutations diverses
RCS Carcassonne B 571 850 056 RC 57-B 5 JEAN DE BRU S.A. Forme : S.A. Capital : 4 500 000 F. Adresse du siège social : rue Montgolfier 11000 Carcassonne. Administration : administrateur démissionnaire : RAPP (Horst). Date d'effet : 20 mai 1997.
07/02/1996	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Carcassonne B 571850056 RC 57-B 5 jean de bru s.a. Forme : S.A. Capital : 4 500 000 F (fixe). Adresse : rue Montgolfier, 11000 Carcassonne Nouvelle situation du siège social Adjonction d'objet social: nomination d'un nouvel administrateur : SOCIETE JOHANNES RAU G.M.B.H. à Rau Strasse no 5, représentée par SCHMID ( Stefan) RAU (Dieter) a été maintenu en qualité d'administrateur. Date d'effet : 29 juin 1994.

Company events history

Date	Description
21/05/2013	Bodacc C : Deposit accounts notice
01/05/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
27/11/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/10/2012	New accounts available
19/10/2012	Bodacc C : Deposit accounts notice
31/10/2011	New accounts available
26/07/2011	Bodacc C : Deposit accounts notice
16/07/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/10/2010	New accounts available
06/08/2010	Bodacc B: Various editing or changing
22/07/2010	New auditor
22/07/2010	Amendment
19/07/2010	Bodacc C : Deposit accounts notice
31/10/2009	New accounts available
08/08/2009	Bodacc C : Deposit accounts notice
31/10/2008	New accounts available
21/08/2008	Bodacc C : Deposit accounts notice
06/11/2007	Private document
06/11/2007	Minutes of general meeting of shareholders
06/11/2007	Updated articles of association
06/11/2007	Amendment
06/11/2007	New closing date
31/10/2007	New accounts available
30/09/2006	New accounts available
30/09/2005	New accounts available
30/09/2004	New accounts available
30/09/2003	New accounts available
04/07/2003	Acte sous seing privé
04/07/2003	Changement de dénomination sociale
04/07/2003	PV d'Assemblée
30/07/2002	Changement de Forme Juridique avec changement de catégorie
30/07/2002	Conversion du Capital Social en Euros
30/07/2002	Changement de date de clôture
30/07/2002	PV d'Assemblée
30/07/2002	Statuts mis à jour
30/07/2002	Changement de Commissaire aux Comptes
30/07/2002	Acte modificatif
12/06/2002	PV d'Assemblée
12/06/2002	PV du Conseil d'Administration
12/06/2002	Changement de Commissaire aux Comptes
12/06/2002	Modification du Conseil d'Administration
12/06/2002	Acte modificatif
01/01/2002	Changement de date de clôture
01/01/2002	Changement de Commissaire aux Comptes
01/01/2002	Acte sous seing privé
01/01/2002	Statuts mis à jour
01/01/2002	Nomination/démission des organes de gestion
01/01/2002	PV du Conseil d'Administration
01/01/2002	Modification du Conseil d'Administration
01/01/2002	Changement de Forme Juridique sans changement de catégorie
01/01/2002	Rapport des Commissaires ou du Gérant
01/01/2002	Changement de Président (PDG, PCA)
01/01/2002	Augmentation de Capital
01/01/2002	PV d'Assemblée
04/08/2000	PV d'Assemblée
04/08/2000	Modification du Conseil d'Administration
04/08/2000	Acte modificatif
04/08/2000	PV du Conseil d'Administration
08/06/2000	PV du Conseil d'Administration
08/06/2000	Acte modificatif
08/06/2000	PV d'Assemblée
08/06/2000	Modification du Conseil d'Administration
01/01/2000	Modification du Conseil d'Administration
01/01/2000	PV du Conseil d'Administration
01/01/2000	Nomination/démission des organes de gestion
01/01/2000	PV d'Assemblée
01/01/2000	Changement de Président (PDG, PCA)
01/01/2000	Acte sous seing privé
22/11/1999	Modification du Conseil d'Administration
22/11/1999	Nomination/démission des organes de gestion
22/11/1999	Acte sous seing privé
22/11/1999	PV d'Assemblée
22/11/1999	Changement de Commissaire aux Comptes
24/09/1999	PV du Conseil d'Administration
24/09/1999	Nomination/démission des organes de gestion
24/09/1999	Changement de Président (PDG, PCA)
24/09/1999	Acte sous seing privé
24/09/1999	Modification du Conseil d'Administration
17/09/1998	Modification du Conseil d'Administration
17/09/1998	PV du Conseil d'Administration
17/09/1998	Nomination/démission des organes de gestion
17/09/1998	Acte sous seing privé
16/07/1998	Changement de Commissaire aux Comptes
16/07/1998	PV d'Assemblée
01/01/1998	Acte sous seing privé
01/01/1998	Nomination/démission des organes de gestion
01/01/1998	Changement de Commissaire aux Comptes
01/01/1998	PV d'Assemblée
17/07/1997	PV d'Assemblée
17/07/1997	Modification du Conseil d'Administration
25/06/1997	Acte sous seing privé
25/06/1997	Modification du Conseil d'Administration
25/06/1997	Nomination/démission des organes de gestion
25/06/1997	PV d'Assemblée
01/01/1996	PV d'Assemblée
01/01/1996	Nomination/démission des organes de gestion
01/01/1996	Modification du Conseil d'Administration
19/12/1995	PV d'Assemblée
19/12/1995	Modification du Conseil d'Administration
02/09/1994	PV du Conseil d'Administration
02/09/1994	Nomination/démission des organes de gestion
02/09/1994	Changement de Président (PDG, PCA)
02/09/1994	Acte modificatif
02/09/1994	Statuts mis à jour
02/09/1994	PV d'Assemblée
02/09/1994	Modification du Conseil d'Administration
02/09/1994	Augmentation de Capital
13/03/1992	Statuts mis à jour
13/03/1992	Changement de date de clôture
13/03/1992	Acte sous seing privé
13/03/1992	PV d'Assemblée
13/03/1992	Déclaration de conformité
01/01/1992	Changement de date de clôture
01/01/1992	Déclaration de conformité
01/01/1992	PV d'Assemblée
01/01/1992	Statuts mis à jour

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.

	Positive export turnover
	The pre-tax profit is more than 25,000€
	The shareholder's equity is more than 250,000€
	The return on total assets employed is positive
	The tangible fixed assets are 463,480 €
	Industry code with low risk rating
	The company is 56 years old
	The ratio total assets to total liabilities is 1,66
	The debtor days are 106.85
	The decrease of shareholder's equity over the past two years is more than 25%
	The sales to current assets ratio is 1,42
	The liquidity acid test is less than 65%
	The decrease of the current ratio over the past two years is more than 20%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.53
UK Pound	1	Rs.100.73
Euro	1	Rs.83.84

INFORMATION DETAILS

Report Prepared by :

NNA

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%)

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