MIRA INFORM REPORT

Report Date :

30.09.2014

IDENTIFICATION DETAILS

Name :	LAFODEX
Registered Office :	La Chartonniere, Rte Nationale 6, Bp 138 Arnas, 69655 Villefranche Sur Saone Cedex
Country :	France
Financials (as on) :	31.03.2014
Date of Incorporation :	October 1995
Com. Reg. No.:	9 402 490 502
Legal Form :	Simplified Joint Stock Company
Line of Business :	Manufacture of workwear (1412Z)
No of Employees :	6 to 9

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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 82 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 mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds.

Source : CIA

Name

LAFODEX

SIRET

402 490 502 00026

Personal comment

company summary

EUR VAT Number		FR95402490502
Activity (APE)	Manufacture of workwear (1412Z)		Legal form	Simplified joint stock company
Phone	04 74 02 93 93		RCS Registration	RCS Villefranche sur Saone-Tarare 9 402 490 502
Fax			Share capital	1,000,000 Euros
Address	LAFODEX La Chartonniere Rte Nationale 6 Bp 138 Arnas 69655 Villefranche Sur Saone Cedex		Incorporated Date	10/1995
Nationality	France		Status	Economically active

This company is not under monitoring

Ultimate Holding Company
Company Name	Company number
LFG	481732014

Current Directors

2

Trading to Date	03/31/2014	03/31/2013	03/31/2012
Turnover	5,512,512 €	4,979,130 €	5,992,140 €
Gross Operating Surplus	4.01 % Turnover	0.25 % Turnover	4.93 % Turnover
Shareholders’ equity	4,464,784 €	4,510,847 €	4,585,764 €
Net result	144,465 €	25,110 €	192,073 €
Employees	6 to 9 employees	-	-

company details

Company details

Activity (APE)	Fabrication de vêtements de travail (1412Z)
RCS Registration	RCS Villefranche sur Saone-Tarare 9 402 490 502	Share capital	1,000,000 Euros
Registration Court	Villefranche sur Saone-Tarare (69)	Legal form	Simplified joint stock company
Court Registry Number	19 9 5B00285	EUR VAT Number	FR95402490502
Incorporation Date	10/1995	Formation Date	10/1995
Deregistration Date		Last account Date	31/03/2014
Nationality	France

Ultimate Parent

1 ultimate parent company for this company > LFG - Conseil pour les affaires et autres conseils de gestion (7022Z) in ARNAS (69400)

Establishment details

Activity (APE)	Fabrication de vêtements de travail (1412Z)	Business Pages FT®	VETEMENTS DE TRAVAIL ET PROFESSIONNELS (FABRICATION, GROS)
Postal Address	LAFODEX LA CHARTONNIERE RTE NATIONALE 6 BP 138 ARNAS 69655 VILLEFRANCHE SUR SAONE CEDEX	Trading Address	ROUTE NATIONALE 6 69400 ARNAS
Telephone	04 74 02 93 93
Fax

Type	Head office	Status	Economically active
Formation Date	01/2008	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	Other	Activity Location	Other
Location surface		Seasonality

Department	Rhône (69)	Region	Rhône-Alpes
District		Area
City	ARNAS	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> LAFODEX <<< - Fabrication de vêtements de travail (1412Z) in ARNAS (69400)
Secondary establishments	> LAFODEX - Fabrication de vêtements de travail (1412Z) in VILLEFRANCHE SUR SAONE (69400)

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

Workforce unknown

Company workforce

6 to 9 employees

Accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/03/2014	31/03/2013	31/03/2012
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	12/08/2014	28/08/2013	12/09/2012
Activity Code	1412Z	1412Z	1412Z
Employees	0	0	0

Active account

Annual Accounts	31/03/2014		31/03/2013		31/03/2012	Sector Median2014
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	599,557	12.5%	532,737	6.4%	500,624	356,182	68.3%
- Intangible assets	186,608	40.2%	133,095	0%	133,095	134,982.50	38.2%
- Tangible assets	73,833	-15.5%	87,396	-12.0%	99,328	51,642	43.0%
- Financial assets	339,113	8.6%	312,246	16.4%	268,201	169,556.50	100%
Net current assets	4,936,961	-2.0%	5,035,649	-4.7%	5,285,890	2,978,684.50	65.7%
- Stocks	2,489,761	-16.5%	2,980,369	-7.3%	3,213,800	1,487,492	67.4%
- Advanced payments	0	-2.0%	0	0%	14,000	0	0%
- Receivables	1,358,331	23.8%	1,097,527	-13.1%	1,263,333	857,266.50	58.4%
- Securities and cash	1,088,865	13.7%	957,753	20.5%	794,757	633,924	71.8%
- Prepaid expenses	-	-	-	-	-	-	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	5,536,519	-0.6%	5,568,386	-3.8%	5,786,514	3,334,867	66.0%

Passive Account

Annual Accounts	31/03/2014		31/03/2013		31/03/2012	Sector Median2014
Shareholders' equity	4,464,784	-1.0%	4,510,847	-1.6%	4,585,764	2,616,534	70.6%
Share capital	1,000,000	0%	1,000,000	0%	1,000,000	575,000	73.9%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	20,000	0%	20,000	0	0%
Liabilities	1,071,734	3.3%	1,037,542	-12.1%	1,180,754	718,332.50	49.2%
- Financial liabilities	174,430	411.3%	34,115	-75.3%	137,872	125,051.50	39.5%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	742,340	-16.7%	890,783	1.2%	880,138	419,491	77.0%
- Tax and social liabilities	130,832	35.1%	96,852	-17.6%	117,580	161,241	-18.9%
- Other debts and fixed assets liabilities	24,129	52.8%	15,792	-65.0%	45,164	12,548	92.3%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	5,536,519	-0.6%	5,568,389	-3.8%	5,786,518	3,334,867	66.0%

Results

Annual Accounts	31/03/2014		31/03/2013		31/03/2012	Sector Median2014
Sales of Goods	5,655,866	10.5%	5,118,053	-15.4%	6,049,279	3,808,892.50	48.5%
Net turnover	5,512,512	10.7%	4,979,130	-16.9%	5,992,140	3,715,627	48.4%
- of which net export turnover	63,234	-9.1%	69,544	197.1%	23,411	91,714.50	-31.1%
Operating charges	5,443,130	6.7%	5,103,407	-11.4%	5,762,257	3,691,680	47.4%
Operating profit/loss	212,736	1352.6%	14,645	-94.9%	287,022	117,212.50	81.5%
Financial income	18,080	-31.3%	26,332	-1.8%	26,813	11,886	52.1%
Financial charges	4,134	53.0%	2,702	-36.8%	4,276	4,814	-14.1%
Financial profit/loss	13,946	-41.0%	23,629	4.8%	22,537	7,072	97.2%
Pretax net operating income	226,682	492.2%	38,275	-87.6%	309,560	124,284.50	82.4%
Extraordinary income	0	0%	6,800	0%	0	0	0%
Extraordinary charges	588	42.0%	414	-97.9%	20,000	297	98.0%
Extraordinary profit/loss	-588	-109.2%	6,385	131.9%	-20,000	-297	-98.0%
Net result	144,465	475.3%	25,110	-86.9%	192,073	83,172.50	73.7%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/03/2014	31/03/2013	31/03/2012
Months	12	12	12

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/03/2014		31/03/2013		31/03/2012
	Grand Total (I to VI)	Net	5,536,519	-0.6%	5,568,386	-3.8%	5,786,514
	Gross	CO	6,348,818	-0.1%	6,355,817	-2.9%	6,547,203
	Amortisation	1A	812,299	3.2%	787,431	3.5%	760,689

Non declared distributed capital (I)

		31/03/2014		31/03/2013		31/03/2012
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/03/2014		31/03/2013		31/03/2012
	Total Active fixed asset (II)	Net	599,557	12.5%	532,737	6.4%	500,624
	Gross	BJ	1,318,041	2.7%	1,283,284	4.9%	1,223,522
	Amortisation	BK	718,484	-4.3%	750,547	3.8%	722,898

Intangilble fixed assets

			31/03/2014		31/03/2013		31/03/2012
	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	2,370	0%	2,370	0%	2,370
	Gross	AF	2,370	0%	2,370	0%	2,370
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	130,725	0%	130,725	0%	130,725
	Gross	AH	130,725	0%	130,725	0%	130,725
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	53,513	0%	0	0%	0
	Gross	AJ	84,179	33.9%	62,850	0%	62,850
	Amortisation	AK	30,666	-51.2%	62,850	0%	62,850
	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	186,608	40.2%	133,095	0%	133,095

Tangilble fixed assets

			31/03/2014		31/03/2013		31/03/2012
	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	10,909	-52.3%	22,872	-17.8%	27,832
	Gross	AR	513,205	0%	513,205	1.4%	506,197
	Amortisation	AS	502,296	2.4%	490,333	2.5%	478,365
	Other tangible fixed assets	Net	62,924	-2.5%	64,524	-9.8%	71,496
	Gross	AT	248,446	-5.1%	261,888	3.4%	253,179
	Amortisation	AU	185,521	-6.0%	197,364	8.6%	181,683
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	73,833		87,396		99,328

Financial assets

			31/03/2014		31/03/2013		31/03/2012
	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	998	0%	998	0%	998
	Gross	CU	998	0%	998	0%	998
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	335,067	8.7%	308,200	16.7%	264,155
	Gross	BB	335,067	8.7%	308,200	16.7%	264,155
	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	3,048	0%	3,048	0%	3,048
	Gross	BH	3,048	0%	3,048	0%	3,048
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		339,113		312,246		268,201

Current Assets (III)

			31/03/2014		31/03/2013		31/03/2012
	Total Assets	Net	4,936,961	-2.0%	5,035,649	-4.7%	5,285,890
	Gross	CJ	5,030,776	-0.8%	5,072,533	-4.7%	5,323,681
	Amortisation	CK	93,815	154.4%	36,884	-2.4%	37,791

Stocks

			31/03/2014		31/03/2013		31/03/2012
	Raw materials	Net	1,723,616	-23.9%	2,264,913	-12.3%	2,582,874
	Gross	BL	1,813,572	-21.1%	2,298,032	-12.2%	2,615,993
	Amortisation	BM	89,956	171.6%	33,119	0%	33,119
	Work in progress (goods)	Net	203,861	-22.5%	263,203	23.6%	212,987
	Gross	BN	203,861	-22.5%	263,203	23.6%	212,987
	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	551,922	24.3%	444,069	15.0%	386,278
	Gross	BR	551,922	24.3%	444,069	15.0%	386,278
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	10,362	26.6%	8,184	-74.2%	31,661
	Gross	BT	10,362	26.6%	8,184	-74.2%	31,661
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	2,489,761	-16.5%	2,980,369	-7.3%	3,213,800

Advance payments to suppliers

			31/03/2014		31/03/2013		31/03/2012
	Advance payments to suppliers	Net	0	0%	0	0%	14,000
	Gross	BV	0	0%	0	0%	14,000
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/03/2014		31/03/2013		31/03/2012
	Trade accounts receivable	Net	1,319,692	37.1%	962,415	-17.2%	1,161,715
	Gross	BX	1,323,551	37.0%	966,180	-17.2%	1,166,387
	Amortisation	BY	3,859	2.5%	3,765	-19.4%	4,672
	Other debtors	Net	25,275	-77.3%	111,253	87.7%	59,263
	Gross	BZ	25,275	-77.3%	111,253	87.7%	59,263
	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	1,344,967	25.3%	1,073,668	-12.1%	1,220,978

Divers

			31/03/2014		31/03/2013		31/03/2012
	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	1,088,865	13.7%	957,753	20.5%	794,757
	Gross	CF	1,088,865	13.7%	957,753	20.5%	794,757
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	1,088,865	13.7%	957,753	20.5%	794,757

Prepaid expenses

			31/03/2014		31/03/2013		31/03/2012
	Prepaid expenses	Net	13,364	-44.0%	23,859	-43.7%	42,355
	Gross	CH	13,364	-44.0%	23,859	-43.7%	42,355
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/03/2014		31/03/2013		31/03/2012
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

		31/03/2014		31/03/2013		31/03/2012
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)

		31/03/2014		31/03/2013		31/03/2012
Grand Total (I to V)	EE	5,536,519	-0.6%	5,568,389	-3.8%	5,786,518

Shareholder Equity (I)

			31/03/2014		31/03/2013		31/03/2012
	Total shareholders' equity (Total I)	DL	4,464,784	-1.0%	4,510,847	-1.6%	4,585,764
	Equity and shareholders' equity	DA	1,000,000	0%	1,000,000	0%	1,000,000
	Issue and merger premiums	DB	3,220,319	-0.8%	3,247,526	0%	3,247,526
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	100,000	0%	100,000	7.5%	92,992
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	0	0%	138,211	159.9%	53,173
	Profit or loss for the period	DI	144,465	475.3%	25,110	-86.9%	192,073
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/03/2014		31/03/2013		31/03/2012
	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)

			31/03/2014		31/03/2013		31/03/2012
	Total provisions for risks and charges (Total III)	DR	0	0%	20,000	0%	20,000
	Risk provisions	DP	0	0%	20,000	0%	20,000
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/03/2014		31/03/2013		31/03/2012
	Total Liabilities (Total IV)	EC	1,071,734	3.3%	1,037,542	-12.1%	1,180,754
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	99,280	0%	0	0%	19,137
	Sundry loans and financial liabilities	DV	75,150	120.3%	34,115	-71.3%	118,735
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	742,340	-16.7%	890,783	1.2%	880,138
	Tax and social security liabilities	DY	130,832	35.1%	96,852	-17.6%	117,580
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	24,129	52.8%	15,792	-65.0%	45,164

Translation loss (V)

		31/03/2014		31/03/2013		31/03/2012
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/03/2014		31/03/2013		31/03/2012
Deferred income	EB	0	0%	0	0%	0

References

		31/03/2014		31/03/2013		31/03/2012
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	995,692	-4.0%	1,037,544	-12.1%	1,180,755
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result(I-II)

		31/03/2014		31/03/2013		31/03/2012
Operating result (Total I-II)	GG	212,736	1352.6%	14,645	-94.9%	287,022

2 -Financial result(V - VI)

		31/03/2014		31/03/2013		31/03/2012
Financial result (Total V-VI)	GV	13,946	-41.0%	23,629	4.8%	22,537

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

		31/03/2014		31/03/2013		31/03/2012
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	226,682	492.2%	38,275	-87.6%	309,560

4 -Extraordinary result(VII-VIII)

		31/03/2014		31/03/2013		31/03/2012
Extraordinary result (Total VII-VIII)	HI	-588	-109.2%	6,385	131.9%	-20,000

Profit or loss

		31/03/2014		31/03/2013		31/03/2012
Profit or loss	HN	144,465	475.3%	25,110	-86.9%	192,073

Total Income (I+III+V+VII)

		31/03/2014		31/03/2013		31/03/2012
Total Income (I+III+V+VII)	HL	5,673,946	10.1%	5,151,186	-15.2%	6,076,092

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

		31/03/2014		31/03/2013		31/03/2012
Total charges (Total II+IV+VI+VIII+IX+X)	HM	5,529,481	7.9%	5,126,075	-12.9%	5,884,020

Operating income(I)

		31/03/2014		31/03/2013		31/03/2012
Total operating income (Total I)	FR	5,655,866	10.5%	5,118,053	-15.4%	6,049,279

Operating income (details)

			31/03/2014		31/03/2013		31/03/2012
	Sale of goods for resale	FC	252,304	18.9%	212,271	-45.5%	389,801
	France	FA	252,304	18.9%	212,271	-45.5%	389,801
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	5,099,444	10.8%	4,601,413	-15.4%	5,441,959
	France	FD	5,036,209	11.1%	4,531,868	-16.4%	5,418,548
	Export	FE	63,234	-9.1%	69,544	197.1%	23,411
	Sale of services	FI	160,763	-2.8%	165,446	3.2%	160,379
	France	FG	160,763	-2.8%	165,446	3.2%	160,379
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	5,512,512	10.7%	4,979,130	-16.9%	5,992,140
	France	FJ	5,449,277	11.0%	4,909,585	-17.7%	5,968,729
	Export	FK	63,234	-9.1%	69,544	197.1%	23,411
	Stocked production	FM	48,510	-55.1%	108,006	6414.2%	1,658
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	64,479	7009.0%	907	-96.4%	25,473
	Other income	FQ	30,363	1.2%	30,008	0.0%	30,007

Operating charges(II)

		31/03/2014		31/03/2013		31/03/2012
Total operating charges (Total II)	GF	5,443,130	6.7%	5,103,407	-11.4%	5,762,257

Exploitation charges

		31/03/2014		31/03/2013		31/03/2012
Purchase of goods for resale	FS	143,396	13.4%	126,485	-52.1%	263,898
Change in stocks of goods for resale	FT	-2,178	-109.3%	23,476	426.1%	-7,200
Purchase of raw materials	FU	2,505,233	-3.0%	2,582,472	-35.3%	3,993,885
Change in stocks of raw materials	FV	484,460	52.4%	317,960	139.8%	-799,065
Other external purchases and charges	FW	1,825,191	9.8%	1,662,556	-11.1%	1,869,361
Tax, duty and similar payments	FX	24,530	-10.1%	27,278	2.6%	26,578
Payroll	FY	259,866	8.7%	239,063	-5.3%	252,495
Social security costs	FZ	99,536	4.2%	95,554	-2.9%	98,410

Depreciation

		31/03/2014		31/03/2013		31/03/2012
Depreciation of fixed assets	GA	46,157	66.9%	27,649	5.4%	26,237
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	56,931	0%	0	0%	37,652
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/03/2014		31/03/2013		31/03/2012
Other charges	GE	03	-99.7%	910	45400%	02

Operating charges (III-IV)

		31/03/2014		31/03/2013		31/03/2012
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)

			31/03/2014		31/03/2013		31/03/2012
	Total financial income (Total V)	GP	18,080	-31.3%	26,332	-1.8%	26,813
	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	18,080	-31.3%	26,332	-1.3%	26,666
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	0	0%	0	0%	146
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/03/2014		31/03/2013		31/03/2012
	Total financial charge (Total VI)	GU	4,134	53.0%	2,702	-36.8%	4,276
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	4,134	53.0%	2,702	-36.8%	4,276
	Exchange losses	GS	0	0%	0	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

			31/03/2014		31/03/2013		31/03/2012
	Total extraordinary income (Total VII)	HD	0	0%	6,800	0%	0
	Extraordinary operating income	HA	0	0%	6,550	0%	0
	Extraordinary income from capital transactions	HB	0	0%	250	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges(VIII)

			31/03/2014		31/03/2013		31/03/2012
	Total extraordinary charges (Total VIII)	HH	588	42.0%	414	-97.9%	20,000
	Extraordinary operating charges	HE	0	0%	414	0%	0
	Extraordinary charges from capital transactions	HF	588	0%	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	20,000

Employee profit sharing(IX)

		31/03/2014		31/03/2013		31/03/2012
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits(X)

		31/03/2014		31/03/2013		31/03/2012
Tax on profits (Total X)	HK	81,628	317.5%	19,551	-79.9%	97,487

References

		31/03/2014		31/03/2013		31/03/2012
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	44,479	0%	0	0%	8,913
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	30,000	0%	30,000	0%	30,000
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)

			31/03/2014		31/03/2013		31/03/2012
	Gross value at begin of period	OG	0	0%	0	0%	0
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	27,123
	Gross value at the end of period	OL	0	0%	0	0%	1,223,525

Research and development Charge (Total I)

			31/03/2014		31/03/2013		31/03/2012
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets(Total II)

			31/03/2014		31/03/2013		31/03/2012
	Gross value at begin of period	KD	0	0%	0	0%	195,946
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	0	0%	0	0%	195,946

Tangible fixed assets (Total III)

			31/03/2014		31/03/2013		31/03/2012
	Gross value at begin of period	LN	0	0%	0	0%	770,292
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	16,207
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	27,123
	Gross value at the end of period	NH	0	0%	0	0%	759,376

Fiancial assets (Total IV)

			31/03/2014		31/03/2013		31/03/2012
	Gross value at begin of period	LQ	0	0%	0	0%	218,123
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	50,079
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	0	0%	0	0%	268,202

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

			31/03/2014		31/03/2013		31/03/2012
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/03/2014		31/03/2013		31/03/2012
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/03/2014		31/03/2013		31/03/2012
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	62,674
Increases		PF	0	0%	0	0%	175
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	62,850

Total fixed assets amotisation(Total III)

			31/03/2014		31/03/2013		31/03/2012
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	661,109
Increases		QV	0	0%	0	0%	26,061
Decreases		QW	0	0%	0	0%	27,123
	Decreasess by budget item transfer	QX	0	0%	0	0%	660,048

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/03/2014		31/03/2013		31/03/2012
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/03/2014		31/03/2013		31/03/2012
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/03/2014		31/03/2013		31/03/2012
	Value at begining of period	7C	0	0%	0	0%	16,698
Increases		UB	0	0%	0	0%	57,652
Decreases		UC	0	0%	0	0%	16,560
	Value at the end of period	UD	0	0%	0	0%	57,791

Includes Total allocations

Operating	UE	0	0%	0	0%	37,652
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	20,000

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	16,560
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/03/2014		31/03/2013		31/03/2012
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/03/2014		31/03/2013		31/03/2012
	Value at begining of period	5Z	0	0%	0	0%	0
Increases		TV	0	0%	0	0%	20,000
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	0	0%	20,000

Total Provision for depreciation (Total III)

			31/03/2014		31/03/2013		31/03/2012
	Value at begining of period	7B	0	0%	0	0%	16,698
Increases		TY	0	0%	0	0%	37,652
Decreases		TZ	0	0%	0	0%	16,560
	Value at the end of period	UA	0	0%	0	0%	37,791

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

		31/03/2014		31/03/2013		31/03/2012
Gross value	VT	0	0%	0	0%	1,535,211
1 year at most	VU	0	0%	0	0%	1,268,007
More than one year	VV	0	0%	0	0%	267,204

State of loans

		31/03/2014		31/03/2013		31/03/2012
Claims related to holdings (gross)	UL	0	0%	0	0%	264,155
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	0	0%	0	0%	3,048
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/03/2014		31/03/2013		31/03/2012
Customers doubtful or disputed	VA	0	0%	0	0%	5,588
Other claims customer	UX	0	0%	0	0%	1,160,799
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	57,377
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	0	0%	1,886

Prepaid

		31/03/2014		31/03/2013		31/03/2012
Prepaid	VS	0	0%	0	0%	42,355

State Debt

			31/03/2014		31/03/2013		31/03/2012
	Total debt (gross)	VY	0	0%	0	0%	1,180,755
1 year at most		VZ2	0	0%	0	0%	1,180,755
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

			31/03/2014		31/03/2013		31/03/2012
	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%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	19,137
1 year at most		VH2	0	0%	0	0%	19,137
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	0	0%	0	0%	880,138
1 year at most		8B2	0	0%	0	0%	880,138
More than 1 year and 5 years at most		8B3	0	0%	0	0%	880,138
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	19,378
1 year at most		8C2	0	0%	0	0%	19,378
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	0	0%	43,902
1 year at most		8D2	0	0%	0	0%	43,902
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	36,724
1 year at most		VW2	0	0%	0	0%	36,724
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	0	0%	17,575
1 year at most		VQ2	0	0%	0	0%	17,575
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%	118,735
1 year at most		VI2	0	0%	0	0%	118,735
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%	45,164
1 year at most		8K2	0	0%	0	0%	45,164
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

		31/03/2014		31/03/2013		31/03/2012
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	19,000

Table allocation results and other information
Dividends distributed

		31/03/2014		31/03/2013		31/03/2012
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/03/2014		31/03/2013		31/03/2012
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

		31/03/2014		31/03/2013		31/03/2012
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

		31/03/2014		31/03/2013		31/03/2012
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

		31/03/2014		31/03/2013		31/03/2012
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

		31/03/2014		31/03/2013		31/03/2012
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/03/2014		31/03/2013		31/03/2012
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

		31/03/2014		31/03/2013		31/03/2012	Sector Median2014
Fixed Asset Financing		4.06	-1.9%	4.14	-7.4%	4.47	3.67	10.6%
Global Debt		70days	-6.7%	75days	5.6%	71days	69days	1.4%
Working Capital Fund overall net		264days	-9.6%	292days	14.5%	255days	200.50days	31.7%
Financial independence		4497.16%	-	%	-	23962.82%	4497.16%	0%
More ratios
Solvability		80.64%	-0.5%	81.01%	2.2%	79.25%	74.22%	8.6%
Capacity debt futures		%	-	%	-	23962.82%	%	-
Coverage of current assets by net working capital overall		80.51%	0.8%	79.87%	-0.6%	80.34%	75.69%	6.4%
General Liquidity			-		-	1.07	0.96	-
Restricted Liquidity			-		-	1.75	1.45	-

Management or rotation

		31/03/2014		31/03/2013		31/03/2012	Sector Median2014
Need background in operating working capital		192days	-13.1%	221days	7.8%	205days	147.50days	30.2%
Treasury		71days	2.9%	69days	43.8%	48days	52.50days	35.2%
Inventory turnover of goods		26days	30.0%	20days	-54.5%	44days	26days	0%
Average length of credit granted to customers		86days	22.9%	70days	0%	70days	73days	17.8%
Average length of credit obtained suppliers		54days	-20.6%	68days	13.3%	60days	42.50days	27.1%
More ratios
Inventory turnover of raw materials in industrial enterprises		261days	-18.4%	320days	35.6%	236days	167days	56.3%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	789days	857days	-
Rotation tangible assets		%	-	%	-	789.09%	856.56%	-

Profitability of the business

		31/03/2014		31/03/2013		31/03/2012	Sector Median2014
Margin trading		2.02%	61.6%	1.25%	-43.7%	2.22	1.01%	100%
Profitability of the business		4.01	1504.0%	0.25	-94.9%	4.93	2.68%	49.6%
Net profit		2.62%	424.0%	0.50%	-84.4%	3.21%	1.88%	39.4%
More ratios
Growth rate of turnover (excluding VAT)		10.71%	163.3%	-16.91%	-552.1%	3.74%	2.20%	386.8%
Rates integration		10.97%	45.9%	7.52%	-33.0%	11.23%	26.71%	-58.9%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		59.41%	-33.6%	89.43%	71.5%	52.15%	76.29%	-22.1%
Weight interests		0.07	40.0%	0.05%	-28.6%	0.07%	0.18%	-61.1%

Return on capital

		31/03/2014		31/03/2013		31/03/2012	Sector Median2014
Cash flow from the overall profitability		3.47%	230.5%	1.05%	-71.6%	3.70%	2.40%	44.6%
Rates of economic profitability		5%	0%	0%	0%	6%	4%	25.0%
Financial profitability		4464784%	-1.0%	4510847%	-1.6%	4585764%	2616534%	70.6%
Return on investment		3.20%	424.6%	0.61%	-85.3%	4.16%	3.22%	-0.6%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/03/2014		31/03/2013		31/03/2012	Sector Median2014
Turnover	5,512,512	10.7%	4,979,130	-16.9%	5,992,140	3,715,627 €	48.4%

Sales of goods	252,304	18.9%	212,271	-45.5%	389,801
- Purchase of goods	143,396	13.4%	126,485	-52.1%	263,898
+/- Stock of goods variation	-2,178	-109.3%	23,476	426.1%	-7,200
Trading margin	111,086 €	78.3%	62,310 €	-53.2%	133,103 €	55,543 €	100%
	2.02 % CA	61.6%	1.25 % CA	-43.7%	2.22 % CA	1.01 % CA	100%

Sale of goods produced	5,260,207	10.3%	4,766,859	-14.9%	5,602,338
+/- Stocked production	48,510	-55.1%	108,006	6414.2%	1,658
+ Self-constructed assets	0	0%	0	0%	0
Period production	5,308,717 €	8.9%	4,874,865 €	-13.0%	5,603,996 €	3,630,743.50 €	46.2%
	96.30 % CA	-1.6%	97.91 % CA	4.7%	93.52 % CA	99.04 % CA	-2.8%

Trading margin	111,086	78.3%	62,310	-53.2%	133,103	55,543	100%
+ Period Production	5,308,717	8.9%	4,874,865	-13.0%	5,603,996	3,630,743.50	46.2%
- Purchase of raw materials	2,505,233	-3.0%	2,582,472	-35.3%	3,993,885
+/- Change in stocks of raw materiels	484,460	52.4%	317,960	139.8%	-799,065
- Other external purchases and charges	1,825,191	9.8%	1,662,556	-11.1%	1,869,361
Added value	604,919 €	61.7%	374,187 €	-44.4%	672,918 €	709,724.50 €	-14.8%
	10.97 % CA	45.9%	7.52 % CA	-33.0%	11.23 % CA	26.71 % CA	-58.9%

Added value	604,919 €	61.7%	374,187 €	-44.4%	672,918 €	709,724.50 €	-14.8%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	24,530	-10.1%	27,278	2.6%	26,578
- Personal charges	359,402	7.4%	334,617	-4.6%	350,905
Gross operating surplus	220,987 €	1697.8%	12,292 €	-95.8%	295,435 €	123,322.50 €	79.2%
	4.01 % CA	1504.0%	0.25 % CA	-94.9%	4.93 % CA	2.68 % CA	49.6%

Gross operating surplus	220,987 €	1697.8%	12,292 €	-95.8%	295,435 €	123,322.50 €	79.2%
+ Release of reserves and provisions	64,479	7009.0%	907	-96.4%	25,473
+ Other operating income	30,363	1.2%	30,008	0.0%	30,007
- Depreciation/Amortisation	103,088	272.8%	27,649	-56.7%	63,889
- Other charges	03	-99.7%	910	45400%	02
Operating result	212,738 €	1352.3%	14,648 €	-94.9%	287,024 €	117,213.50 €	81.5%
	3.86 % CA	1231.0%	0.29 % CA	-93.9%	4.79 % CA	2.50 % CA	54.4%

Operating result	212,738 €	1352.3%	14,648 €	-94.9%	287,024 €	117,213.50 €	81.5%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	18,080	-31.3%	26,332	-1.8%	26,813
- Financial charges	4,134	53.0%	2,702	-36.8%	4,276
Pre-tax result	226,684 €	492.2%	38,278 €	-87.6%	309,561 €	124,285.50 €	82.4%
	4.11 % CA	433.8%	0.77 % CA	-85.1%	5.17 % CA	2.63 % CA	56.3%

Extraordinary income	0	0%	6,800	0%	0	0	0%
- Extraordinary charges	588	42.0%	414	-97.9%	20,000
Extraordinary result	-588 €	-109.2%	6,386 €	131.9%	-20,000 €	-297 €	-98.0%
	-0.01 % CA	-107.7%	0.13 % CA	139.4%	0 % CA	-00.01 % CA	0%

Pre-tax result	226,684 €	492.2%	38,278 €	-87.6%	309,561 €	124,285.50 €	82.4%
Extraordinary result	-588 €	-109.2%	6,386 €	131.9%	-20,000 €	-297 €	-98.0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	81,628	317.5%	19,551	-79.9%	97,487
Net result	144,468 €	475.3%	25,113 €	-86.9%	192,074 €	83,174.50 €	73.7%
	2.62 % CA	424.0%	0.50 % CA	-84.4%	3.21 % CA	1.88 % CA	39.4%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Status of collection

This company is not under monitoring

Group data

	LFG
Direct parent	LFG - 99.99 %
Group – Number of companies	3
Linkages – Number of companies	-
Number of countries	-

Group Structure

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LFG

Company Name	SIREN	Parts	Last account published
LFG	481732014	-	31/03/2014
LAFODEX	402490502	99.99%	31/03/2014
SCI DLD	500674858	99.99%	-

Shareholders

Type of shareholder

Shareholders

Linkages

Ultimate parent company	LFG
Direct parent	LFG - 99.99 %
Group – Number of companies	3
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
20/08/2014	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 7342 - 402490502 RCS. LAFODEX. Forme : Société par Actions Simplifiée. Adresse : La Chartonnière Route Nationale 6 69400 Arnas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2014.
16/09/2013	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 6091 - 402490502 RCS. LAFODEX. Forme : Société par Actions Simplifiée. Adresse : La Chartonnière Route Nationale 6 69400 Arnas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2013.
22/08/2013	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 1635 - 402 490 502 RCS Villefranche-Tarare. LAFODEX. Forme : Société par Actions Simplifiée. Administration : Modification de la désignation d'un dirigeant : directeur général, nouvelle identité : LYMAGE Pauline Régine nom d'usage : ANCELLY. ROUX Alain nom d'usage : ROUX n'est plus commissaire aux comptes suppléant. MONNERET Pierre-Michel nom d'usage : MONNERET devient commissaire aux comptes suppléant. Activité : . Commentaires : Modification de l'administration.
28/09/2012	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 9489 - 402490502 RCS. LAFODEX. Forme : Société par Actions Simplifiée. Adresse : La Chartonnière Route Nationale 6 69400 Arnas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2012.
26/09/2011	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 6818 - 402490502 RCS. LAFODEX. Forme : Société par Actions Simplifiée. Adresse : La Chartonnière Route Nationale 6 69400 Arnas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2011.
27/09/2010	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 8099 - 402490502 RCS. LAFODEX. Forme : Société par Actions Simplifiée. Adresse : La Chartonnière Route Nationale 6 69400 Arnas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2010.
19/04/2010	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 6859 - 402490502 RCS. LAFODEX. Forme : Société par Actions Simplifiée. Adresse : La Chartonnière Route Nationale 6 69400 Arnas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2009.
13/01/2010	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 509 - 402 490 502 RCS Villefranche-Tarare. LAFODEX. Forme : Société par Actions Simplifiée. Activité : La fabrication, la vente et le négoce de vêtements de travail, de sport ou fantaisie et de tous articles s'y rattachant et accessoires, la transformation des tissus et la vente de tissus transformés ou non. La gestion et l'administration de tout patrimoine immobilier et de son portefeuille de participations de placements, la gestion et l'organisation de toutes sociétés ou entreprises, les prestations se rapportant aux besoins des entreprises. Commentaires : Modification de l'activité.
18/12/2009	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 1959 - 402 490 502 RCS Villefranche-Tarare. LAFODEX. Forme : Société par Actions Simplifiée. Commentaires : Modification de la dénomination.
03/04/2009	Bodacc C	Comptes annuels et rapports
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 8274 - 402490502 RCS. G.L.F.. Forme : Société par Actions Simplifiée. Adresse : La Chartonnière Route Nationale 6, 69400 Arnas. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/09/2008.
25/03/2009	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 1881 - 402 490 502 RCS Villefranche-Tarare. G.L.F. Forme : Société par Actions Simplifiée. Administration : LYMAGE-GAMONET Francoise nom d'usage : LYMAGE-GAMONET Francoise n'est plus directeur général.. LYMAGE Pauline Régine nom d'usage : LYMAGE Pauline devient directeur général.. Commentaires : Modification de l'administration.
06/03/2008	Bodacc B	Modification et mutation diverse
69 - RHONE GREFFE DU TRIBUNAL DE COMMERCE DE VILLEFRANCHE-TARARE 3206 - 402 490 502 RCS Villefranche-Tarare. G.L.F. Forme : Société par Actions Simplifiée. Adresse du siège social : La Chartonnière, Route Nationale 6, 69400 Arnas. Commentaires : Nouveau siège.
23/02/2007	Bodacc B	Modifications et mutations diverses
0828 - RCS Villefranche-Tarare 402 490 502. RC 95-B 00285. G.L.F. Forme : S.A.S. Adresse du siège social : 461 rue Robert-Schuman,, 69400 Administration : nouveau président : DELOBRE (Régis). Nouveau directeur général : LYMAGE-GAMONET (Françoise), ancien président.
18/02/2007	Bodacc C	Avis de dépôt des comptes
4318 - RCS VillefrancheTarare B 402 490 502. RC 95-B 285. G.L.F.. Forme: S.A.S. Adresse du siège social: 461, Rue Robert Schuman,69400 Villefranche-sur-Saone. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2006.
19/03/2006	Bodacc C	Avis de dépôt des comptes
2837 - RCS VillefrancheTarare B 402 490 502. RC 95-B 285. G.L.F.. Forme: S.A.S. Adresse du siège social: 461, Rue Robert Schuman,69400 Villefranche-sur-Saone. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2005.
30/04/2005	Bodacc C	Avis de dépôt des comptes
4299 - RCS VillefrancheTarare B 402 490 502. RC 95-B 285. G.L.F.. Forme: société par actions simplifiée. Adresse du siège social: 461, Rue Robert Schuman,69400 Villefranche-sur-Saone. Comptes annuels et rapports de l'exercice clos le: 30 septembre 2004.
23/11/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Villefranche-Tarare 402490502 RC 95-B 00285 G.L.F. Forme : S.A. Capital : 1 000 000 d'euros. Adresse : 461 rue Robert- Schumann, 69400 Villefranche-sur-Saone Nouvelle situation du siège social. Forme : S.A.S. Administration : nomination d'un président : LYMAGE (Françoise), ancien président du conseil d' administration. Anciens administrateurs VIZIER (Solange) et DELOBRE (Régis). Date d'effet : 24 septembre 2001.
21/06/2001	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Villefranche-Tarare 402490502 RC 95-B 00285 G.L.F. Forme : S.A. Capital : 4 763 200 F. Adresse : 461 rue Robert-Schuman, 69400 Villefranche-sur-Saone Nouvelle situation du siège social. Capital : 1 000 000 d'euros. Date d'effet : 21 mars 2001.
25/11/1995	Bodacc A	Création d'établissement
RCS Villefranche-Tarare B 402 490 502 A dater du: 30 octobre 1995 RC 95-B 00285 G.L.F. Forme : S.A. Capital : 4 763 200 F. Adresse du siège social : 461 rue Robert- Schuman 69400 Villefranche-sur-Saone. Administration : président du conseil d' administration et administrateur : LYMAGE-GAMONET (Françoise). Administrateurs : VIZIER (Solange) et DELOBRE (Régis). Commissaire aux comptes titulaire : CABINET C.C.I. CONSEILS. Commissaire aux comptes suppléant : ROUX (Alain) Cette société se constitue Etablissement principal: Adresse : 461 rue Robert-Schuman 69400 Villefranche-sur-Saone. Activité : gestion, administration de tout patrimoine immobilier et de son portefeuille de participations et de placements gestion et organisation de toutes sociétés ou entreprises. Prestations se rapportant aux besoins des entreprises Date de début d' activité: 1er octobre 1995.

COMPANY EVENTS HISTORY

Date	Description
20/08/2014	Bodacc C : Deposit accounts notice
13/08/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/03/2014	New accounts available
07/03/2014	New subsidiarie(s) detected
07/03/2014	New ultimate parent
07/03/2014	New parent detected
16/09/2013	Bodacc C : Deposit accounts notice
29/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
22/08/2013	Bodacc B: Various editing or changing
07/08/2013	Minutes of general meeting of shareholders
31/03/2013	New accounts available
02/10/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
28/09/2012	Bodacc C : Deposit accounts notice
13/09/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/03/2012	New accounts available
04/10/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
26/09/2011	Bodacc C : Deposit accounts notice
31/03/2011	New accounts available
27/09/2010	Bodacc C : Deposit accounts notice
19/04/2010	Bodacc C : Deposit accounts notice
31/03/2010	New accounts available
13/01/2010	Bodacc B: Various editing or changing
29/12/2009	Update of Company Activity
29/12/2009	Modification of Company Activity
18/12/2009	Bodacc B: Various editing or changing
07/12/2009	Rapport des Commissaires ou du Gérant
07/12/2009	Updated articles of association
07/12/2009	Statuts mis à jour
07/12/2009	Acte modificatif
16/11/2009	Update of Company Name
16/11/2009	Modification to Company Identifier
16/11/2009	Update of Company Activity
16/11/2009	Modification of Company Activity
30/09/2009	New accounts available
03/04/2009	Bodacc C : Deposit accounts notice
25/03/2009	Bodacc B: Various editing or changing
03/03/2009	Private document
03/03/2009	Appointment/resignation of company officers
03/03/2009	PV d'Assemblée
03/03/2009	Minutes of general meeting of shareholders
03/03/2009	Statuts mis à jour
03/03/2009	Updated articles of association
30/09/2008	New accounts available
14/04/2008	Modification to Establishment Address or Identifier
06/03/2008	New Bodacc B ads detected
06/03/2008	Bodacc B: Various editing or changing
25/02/2008	Updated articles of association
25/02/2008	Minutes of general meeting of shareholders
25/02/2008	Registered office transferred inside jurisdiction of the Commercial Court
25/02/2008	Amendment
25/02/2008	Acte modificatif
25/02/2008	Private document
25/02/2008	Statuts mis à jour
02/01/2008	Update of Company Head Office Identifier
02/01/2008	Transfer of Establishment
30/09/2007	New accounts available
29/01/2007	Minutes of general meeting of shareholders
29/01/2007	Amendment
29/01/2007	Acte modificatif
29/01/2007	Private document
29/01/2007	Appointment/resignation of company officers
30/09/2006	New accounts available
30/09/2005	New accounts available
30/09/2004	New accounts available
30/09/2003	New accounts available
30/10/2001	Acte sous seing privé
30/10/2001	Changement de Forme Juridique sans changement de catégorie
30/10/2001	Acte modificatif
30/10/2001	Rapport des Commissaires ou du Gérant
30/10/2001	Statuts mis à jour
30/10/2001	Nomination/démission des organes de gestion
30/10/2001	PV d'Assemblée
30/10/2001	Statuts
16/05/2001	Conversion du Capital Social en Euros
16/05/2001	PV d'Assemblée
16/05/2001	Statuts mis à jour
16/05/2001	Statuts
16/05/2001	Acte modificatif
16/05/2001	Augmentation de Capital
16/05/2001	Acte sous seing privé
09/11/1995	Acte modificatif
09/11/1995	Requête et Ordonnance
30/10/1995	Certificat de dépôt des fonds
30/10/1995	Nomination/démission des organes de gestion
30/10/1995	PV d'Assemblée
30/10/1995	Statuts
30/10/1995	Statuts mis à jour
30/10/1995	Acte modificatif
30/10/1995	Acte sous seing privé
30/10/1995	Formation de Société
30/10/1995	PV du Conseil d'Administration

Directors

Name	M. DELOBRE RÉGIS
Manager position	President	Date of birth	15/11/1956
Place of birth	ANNONAY(07)
Type	Individual	Name at birth

Name	Mme. ANCELLY PAULINE RÉGINE
Manager position	Managing director	Date of birth	23/07/1981
Place of birth	MACON(71)
Type	Individual	Name at birth	LYMAGE

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Managing director	MME PAULINE LYMAGE	- - -
Managing director	Mme PAULINE RÉGINE LYMAGE	7/23/1981 - MACON(71)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.43
UK Pound	1	Rs.99.73
Euro	1	Rs.77.93

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	TPT

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.