MIRA INFORM REPORT

Report No. :	306230
Report Date :	05.02.2015

IDENTIFICATION DETAILS

Name :	MESSIKA DIAMONDS
Registered Office :	62 Rue La Fayette 75009 Paris 9
Country :	France
Financials (as on) :	29.02.2012
Date of Incorporation :	December 2005
Legal Form :	Simplified joint stock company
Line of Business :	Wholesaler and Supplier of Diamonds.
No. of Employee :	3 to 5 employees

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	Slow but correct
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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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

Company name

Name

MESSIKA DIAMONDS

SIRET

487 734 253 00015

Personal comment

company summary

		EUR VAT Number	FR63487734253
Activity (APE)	Wholesaler and Supplier of Diamonds.	Legal form	Simplified joint stock company
Phone	01 48 01 65 84	RCS Registration	RCS Paris 0 487 734 253
Fax		Share capital	50,000 Euros
Address	MESSIKA DIAMONDS 62 RUE LA FAYETTE 75009 PARIS 9	Incorporated Date	01/2006
Nationality	France	Status	Economically active

This company is not under monitoring

ULTIMATE HOLDING COMPANY
Company Name	Company number	Click here to view the affiliation links
MESSIKA GROUP SA	301293999

CURRENT DIRECTORS

1

Trading to Date	02/29/2012	02/28/2011	02/28/2010
Turnover	13,615,186 €	9,275,921 €	5,239,038 €
Gross Operating Surplus	9.67 % Turnover	3.15 % Turnover	4.61 % Turnover
Shareholders’ equity	1,396,118 €	488,113 €	440,978 €
Net result	908,004 €	47,135 €	99,900 €
Employees	3 to 5 employees	-	-

Trends
Profitability
Liquidity
Net worth

Company Details

Company details

Activity (APE)	Wholesaler and Supplier of Diamonds.
RCS Registration	RCS Paris 0 487 734 253	Share capital	50,000 Euros
Registration Court	Paris (75)	Legal form	Simplified joint stock company
Court Registry Number	20 0 6B01783	EUR VAT Number	FR63487734253
Incorporation Date	01/2006	Formation Date	12/2005
Deregistration Date		Last account Date	29/02/2012
Nationality	France

Ultimate Parent

1 ultimate parent company for this company >  MESSIKA GROUP SA  - Location de terrains et d'autres biens immobiliers (6820B)  in PARIS 9  (75009)

Establishment details

Activity (APE)	Wholesaler and Supplier of Diamonds.	Business Pages FT®	NEGOCE DE DIAMANTS, DE PIERRES PRECIEUSES ET DE PIERRES GEMMES
Postal Address	MESSIKA DIAMONDS 62 RUE LA FAYETTE 75009 PARIS 9	Trading Address	62 RUE LA FAYETTE 75009 PARIS 9
Telephone	01 48 01 65 84
Fax

Type	Head office (one site company)	Status	Economically active
Formation Date	12/2005	Reason for formation	Lease management
Closure Date		Reason for closure
Reactivation Date		Production Role	Tenant of a goodwill
Activity Nature	Services	Activity Location	Office
Location surface		Seasonality

Department	Paris (75)	Region	Ile-de-France
District	1	Area	99
City	PARIS 9	Size of urban area	Paris conglomeration

Other establishments

Branches	1 branch entities in this company
Head office	> MESSIKA DIAMONDS <<<  - Commerce de gros (commerce interentreprises) d'autres produits intermédiaires (4676Z)  in PARIS 9  (75009)
Secondary establishments

Regionality

Mono-activity status

Workforces

Workforce at address

3 to 5 employees

Company workforce

3 to 5 employees

Account

Active Account |  Passive Account |  Account Results

Synthesized Accounts

DISPLAY PARAMETER
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	29/02/2012	28/02/2011	28/02/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	23/04/2013	08/10/2011	08/03/2011
Activity Code	4676Z	4676Z	4676Z
Employees	5	6	5

Active account

Annual Accounts	29/02/2012		28/02/2011		28/02/2010	Sector Median 2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	4,286	-20.9%	5,418	-17.9%	6,601	24,873	-82.8%
- Intangible assets	0	0%	0	0%	0	0	0%
- Tangible assets	4,286	-20.9%	5,418	-17.9%	6,601	6,551	-34.6%
- Financial assets	0	0%	0	0%	0	935	0%
Net current assets	7,600,184	57.6%	4,823,332	77.4%	2,718,522	311,013	2343.7%
- Stocks	4,720,047	120.5%	2,141,023	55.6%	1,375,849	33,070	14172.9%
- Advanced payments	0	57.6%	0	0%	0	0	0%
- Receivables	2,756,022	19.3%	2,310,786	109.6%	1,102,380	145,489	1794.3%
- Securities and cash	124,115	-66.6%	371,523	54.6%	240,293	41,016	202.6%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	50,685	69.1%	29,971	-50.5%	60,607	0	0%
Total Assets	7,655,155	57.6%	4,858,721	74.4%	2,785,729	373,493	1949.6%

Passive Account

Annual Accounts	29/02/2012		28/02/2011		28/02/2010	Sector Median 2012
Shareholders' equity	1,396,118	186.0%	488,113	10.7%	440,978	111,877	1147.9%
Share capital	50,000	0%	50,000	0%	50,000	22,880	118.5%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	72,259	16.8%	61,870	-22.0%	79,291	0	0%
Liabilities	6,057,106	42.7%	4,244,339	88.5%	2,251,147	191,498	3063.0%
- Financial liabilities	3,384,742	87.9%	1,800,968	85.2%	972,557	14,517	23215.7%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	2,598,413	9.4%	2,374,266	97.3%	1,203,508	79,459	3170.1%
- Tax and social liabilities	73,605	7.0%	68,759	-8.4%	75,082	52,882	39.2%
- Other debts and fixed assets liabilities	130,019	100.8%	64,744	352.3%	14,314	5,197	2401.8%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	7,655,155	57.6%	4,858,720	74.4%	2,785,729	373,493	1949.6%

Results

Annual Accounts	29/02/2012		28/02/2011		28/02/2010	Sector Median 2012
Sales of Goods	13,710,774	47.3%	9,305,131	77.1%	5,253,627	664,221	1964.2%
Net turnover	13,615,186	46.8%	9,275,921	77.1%	5,239,038	653,509	1983.4%
- of which net export turnover	8,471,615	58.8%	5,335,490	127.4%	2,346,393	0	0%
Operating charges	12,313,345	35.5%	9,088,943	78.3%	5,096,655	651,632	1789.6%
Operating profit/loss	1,397,429	546.4%	216,188	37.7%	156,972	14,636	9447.9%
Financial income	403,139	-2.4%	412,953	59.7%	258,655	149	270463.1%
Financial charges	541,612	14.7%	472,270	71.1%	276,078	932	58012.9%
Financial profit/loss	-138,473	-133.4%	-59,317	-240.5%	-17,423	-93	-148795.7%
Pretax net operating income	1,258,956	702.5%	156,871	12.4%	139,549	15,238	8162.0%
Extraordinary income	0	0%	0	0%	0	10	0%
Extraordinary charges	35	-100.0%	109,737	997509.1%	11	150	-76.7%
Extraordinary profit/loss	-35	100.0%	-109,737	-997509.1%	-11	0	0%
Net result	908,004	1826.4%	47,135	-52.8%	99,900	13,160	6799.7%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	29/02/2012	28/02/2011	28/02/2010
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			29/02/2012		28/02/2011		28/02/2010
	Grand Total (I to VI)	Net	7,655,155	57.6%	4,858,721	74.4%	2,785,729
	Gross	CO	7,775,477	54.1%	5,047,018	74.6%	2,890,757
	Amortisation	1A	120,322	-36.1%	188,297	79.3%	105,028

Non declared distributed capital (I)

		29/02/2012		28/02/2011		28/02/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			29/02/2012		28/02/2011		28/02/2010
	Total Active fixed asset (II)	Net	4,286	-20.9%	5,418	-17.9%	6,601
	Gross	BJ	18,997	8.0%	17,592	39.3%	12,626
	Amortisation	BK	14,711	20.8%	12,174	102.1%	6,025

Intangilble fixed assets

			29/02/2012		28/02/2011		28/02/2010
	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	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	0	0%	0	0%	0

Tangilble fixed assets

			29/02/2012		28/02/2011		28/02/2010
	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	0	0%	0	0%	0
	Gross	AR	0	0%	0	0%	0
	Amortisation	AS	0	0%	0	0%	0
	Other tangible fixed assets	Net	4,286	-20.9%	5,418	-17.9%	6,601
	Gross	AT	18,997	8.0%	17,592	39.3%	12,626
	Amortisation	AU	14,711	20.8%	12,174	102.1%	6,025
	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	4,286		5,418		6,601

Financial assets

			29/02/2012		28/02/2011		28/02/2010
	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	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	0	0%	0	0%	0
	Gross	BH	0	0%	0	0%	0
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		0		0		0

Current Assets (III)

			29/02/2012		28/02/2011		28/02/2010
	Total Assets	Net	7,600,184	57.6%	4,823,332	77.4%	2,718,522
	Gross	CJ	7,705,795	54.1%	4,999,455	77.4%	2,817,525
	Amortisation	CK	105,611	-40.0%	176,123	77.9%	99,003

Stocks

			29/02/2012		28/02/2011		28/02/2010
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	4,720,047	120.5%	2,141,023	55.6%	1,375,849
	Gross	BT	4,728,316	113.0%	2,219,804	61.3%	1,375,849
	Amortisation	BU	8,269	-89.5%	78,781	0%	0
	Sub Total Stocks	Net	4,720,047	120.5%	2,141,023	55.6%	1,375,849

Advance payments to suppliers

			29/02/2012		28/02/2011		28/02/2010
	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

			29/02/2012		28/02/2011		28/02/2010
	Trade accounts receivable	Net	2,556,165	25.3%	2,040,137	98.7%	1,026,633
	Gross	BX	2,653,507	24.1%	2,137,479	89.9%	1,125,636
	Amortisation	BY	97,342	0%	97,342	-1.7%	99,003
	Other debtors	Net	193,990	-26.3%	263,070	270.3%	71,047
	Gross	BZ	193,990	-26.3%	263,070	270.3%	71,047
	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	2,750,155	19.4%	2,303,207	109.8%	1,097,680

Divers

			29/02/2012		28/02/2011		28/02/2010
	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	124,115	-66.6%	371,523	54.6%	240,293
	Gross	CF	124,115	-66.6%	371,523	54.6%	240,293
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	124,115	-66.6%	371,523	54.6%	240,293

Prepaid expenses

			29/02/2012		28/02/2011		28/02/2010
	Prepaid expenses	Net	5,867	-22.6%	7,579	61.3%	4,700
	Gross	CH	5,867	-22.6%	7,579	61.3%	4,700
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		29/02/2012		28/02/2011		28/02/2010
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	50,685	69.1%	29,971	-50.5%	60,607
Gross		50,685	69.1%	29,971	-50.5%	60,607

References

		29/02/2012		28/02/2011		28/02/2010
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	116,421	-39.8%	193,535

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)

		29/02/2012		28/02/2011		28/02/2010
Grand Total (I to V)	EE	7,655,155	57.6%	4,858,720	74.4%	2,785,729

Shareholder Equity (I)

			29/02/2012		28/02/2011		28/02/2010
	Total shareholders' equity (Total I)	DL	1,396,118	186.0%	488,113	10.7%	440,978
	Equity and shareholders' equity	DA	50,000	0%	50,000	0%	50,000
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	5,000	0%	5,000	0%	5,000
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	433,114	12.2%	385,978	34.9%	286,078
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	0	0%	0	0%	0
	Profit or loss for the period	DI	908,004	1826.4%	47,135	-52.8%	99,900
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			29/02/2012		28/02/2011		28/02/2010
	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)

			29/02/2012		28/02/2011		28/02/2010
	Total provisions for risks and charges (Total III)	DR	72,259	16.8%	61,870	-22.0%	79,291
	Risk provisions	DP	50,685	69.1%	29,971	-51.7%	62,023
	Reserves for charges	DQ	21,574	-32.4%	31,899	84.7%	17,268

Liabilities (IV)

			29/02/2012		28/02/2011		28/02/2010
	Total Liabilities (Total IV)	EC	6,057,106	42.7%	4,244,339	88.5%	2,251,147
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	1,234,860	228.1%	376,412	39.4%	270,117
	Sundry loans and financial liabilities	DV	2,149,882	50.9%	1,424,556	102.8%	702,440
	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	2,598,413	9.4%	2,374,266	97.3%	1,203,508
	Tax and social security liabilities	DY	73,605	7.0%	68,759	-8.4%	75,082
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	346	0%	346	0%	0

Translation loss (V)

		29/02/2012		28/02/2011		28/02/2010
Translation loss (Total V)	ED	129,673	101.4%	64,398	349.9%	14,314

Equalization accounts

		29/02/2012		28/02/2011		28/02/2010
Deferred income	EB	0	0%	0	0%	0

References

		29/02/2012		28/02/2011		28/02/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	2,251,146
Of which current bank facilities	EH	0	0%	0	0%	269,417

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)

		29/02/2012		28/02/2011		28/02/2010
Operating result (Total I-II)	GG	1,397,429	546.4%	216,188	37.7%	156,972

2 - Financial result (V - VI)

		29/02/2012		28/02/2011		28/02/2010
Financial result (Total V-VI)	GV	-138,473	-133.4%	-59,317	-240.5%	-17,423

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

		29/02/2012		28/02/2011		28/02/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	1,258,956	702.5%	156,871	12.4%	139,549

4 - Extraordinary result (VII-VIII)

		29/02/2012		28/02/2011		28/02/2010
Extraordinary result (Total VII-VIII)	HI	-35	100.0%	-109,737	-997509.1%	-11

Profit or loss

		29/02/2012		28/02/2011		28/02/2010
Profit or loss	HN	908,004	1826.4%	47,135	-52.8%	99,900

Total Income (I+III+V+VII)

		29/02/2012		28/02/2011		28/02/2010
Total Income (I+III+V+VII)	HL	14,113,913	45.2%	9,718,084	76.3%	5,512,282

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

		29/02/2012		28/02/2011		28/02/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	13,205,908	36.6%	9,670,950	78.7%	5,412,383

Operating income (I)

		29/02/2012		28/02/2011		28/02/2010
Total operating income (Total I)	FR	13,710,774	47.3%	9,305,131	77.1%	5,253,627

Operating income (details)

			29/02/2012		28/02/2011		28/02/2010
	Sale of goods for resale	FC	13,615,186	46.8%	9,275,771	77.1%	5,239,038
	France	FA	5,143,571	30.5%	3,940,281	36.2%	2,892,645
	Export	FB	8,471,615	58.8%	5,335,490	127.4%	2,346,393
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	0	0%	150	0%	0
	France	FG	0	0%	150	0%	0
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	13,615,186	46.8%	9,275,921	77.1%	5,239,038
	France	FJ	5,143,571	30.5%	3,940,431	36.2%	2,892,645
	Export	FK	8,471,615	58.8%	5,335,490	127.4%	2,346,393
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	94,912	254.6%	26,766	1423.4%	1,757
	Other income	FQ	676	-72.3%	2,444	-81.0%	12,832

Operating charges (II)

		29/02/2012		28/02/2011		28/02/2010
Total operating charges (Total II)	GF	12,313,345	35.5%	9,088,943	78.3%	5,096,655

Exploitation charges

		29/02/2012		28/02/2011		28/02/2010
Purchase of goods for resale	FS	13,848,743	58.3%	8,746,395	139.1%	3,658,159
Change in stocks of goods for resale	FT	-2,508,512	-297.5%	-631,115	-193.4%	675,486
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	521,618	9.4%	476,633	37.8%	345,972
Tax, duty and similar payments	FX	48,662	36.5%	35,640	92.4%	18,521
Payroll	FY	264,571	9.1%	242,396	18.0%	205,371
Social security costs	FZ	123,457	8.4%	113,921	21.3%	93,907

Depreciation

		29/02/2012		28/02/2011		28/02/2010
Depreciation of fixed assets	GA	2,537	-8.3%	2,767	16.3%	2,379
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	8,269	-89.9%	81,814	-12.4%	93,425
Provisions for risks and charges	GD	3,000	0%	0	0%	3,041

Other charges

		29/02/2012		28/02/2011		28/02/2010
Other charges	GE	1,000	-95.1%	20,492	5101.0%	394

Operating charges (III-IV)

		29/02/2012		28/02/2011		28/02/2010
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)

			29/02/2012		28/02/2011		28/02/2010
	Total financial income (Total V)	GP	403,139	-2.4%	412,953	59.7%	258,655
	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	29,971	6387.2%	462	-99.2%	57,227
	Released provisions and transferred charges	GM	373,168	514.7%	60,709	-69.9%	201,428
	Exchange gains	GN	0	0%	351,782	0%	0
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			29/02/2012		28/02/2011		28/02/2010
	Total financial charge (Total VI)	GU	541,612	14.7%	472,270	71.1%	276,078
	Financial reserves and provisions	GQ	50,685	69.1%	29,971	-50.5%	60,607
	Interest and similar charges	GR	82,484	38.9%	59,365	-9.3%	65,423
	Exchange losses	GS	408,443	6.7%	382,934	155.2%	150,048
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			29/02/2012		28/02/2011		28/02/2010
	Total extraordinary income (Total VII)	HD	0	0%	0	0%	0
	Extraordinary operating income	HA	0	0%	0	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			29/02/2012		28/02/2011		28/02/2010
	Total extraordinary charges (Total VIII)	HH	35	-100.0%	109,737	997509.1%	11
	Extraordinary operating charges	HE	35	-84.4%	225	1945.5%	11
	Extraordinary charges from capital transactions	HF	0	0%	109,512	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		29/02/2012		28/02/2011		28/02/2010
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		29/02/2012		28/02/2011		28/02/2010
Tax on profits (Total X)	HK	350,916	0%	0	0%	39,639

References

		29/02/2012		28/02/2011		28/02/2010
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other 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)

			29/02/2012		28/02/2011		28/02/2010
	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%	1,409	0%	0
	Gross value at the end of period	OL	18,997	8.0%	17,592	39.3%	12,626

Research and development Charge (Total I)

			29/02/2012		28/02/2011		28/02/2010
	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)

			29/02/2012		28/02/2011		28/02/2010
	Gross value at begin of period	KD	0	0%	0	0%	0
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	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%	0

Tangible fixed assets (Total III)

			29/02/2012		28/02/2011		28/02/2010
	Gross value at begin of period	LN	17,591	39.3%	12,626	6.3%	11,875
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	1,405	-78.0%	6,375	748.9%	751
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	1,409	0%	0
	Gross value at the end of period	NH	18,996	8.0%	17,592	39.3%	12,626

Fiancial assets (Total IV)

			29/02/2012		28/02/2011		28/02/2010
	Gross value at begin of period	LQ	0	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	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%	0

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

			29/02/2012		28/02/2011		28/02/2010
	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)

			29/02/2012		28/02/2011		28/02/2010
	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)

			29/02/2012		28/02/2011		28/02/2010
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amotisation (Total III)

			29/02/2012		28/02/2011		28/02/2010
	Reserve for depreciation value at begin of period	QU	12,174	102.1%	6,025	65.2%	3,646
Increases		QV	2,537	-64.4%	7,135	199.9%	2,379
Decreases		QW	0	0%	986	0%	0
	Decreasess by budget item transfer	QX	14,711	20.8%	12,174	102.1%	6,025

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			29/02/2012		28/02/2011		28/02/2010
	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
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			29/02/2012		28/02/2011		28/02/2010
	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)

			29/02/2012		28/02/2011		28/02/2010
	Value at begining of period	7C	0	0%	178,293	127.3%	78,448
Increases		UB	0	0%	111,784	-28.8%	157,073
Decreases		UC	0	0%	84,555	47.8%	57,227
	Value at the end of period	UD	0	0%	237,994	33.5%	178,294

Includes Total allocations

Operating	UE	0	0%	81,814	-15.2%	96,466
Financial	UG	0	0%	29,971	-50.5%	60,607
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	23,847	0%	0
Financial	UH	0	0%	60,709	6.1%	57,227
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			29/02/2012		28/02/2011		28/02/2010
	Value at begining of period	3Z	01	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	01	0%	0	0%	0

Total risk and charge provisions (Total II)

			29/02/2012		28/02/2011		28/02/2010
	Value at begining of period	5Z	0	0%	79,291	8.8%	72,870
Increases		TV	0	0%	29,971	-52.9%	63,648
Decreases		TW	0	0%	62,225	8.7%	57,227
	Value at the end of period	TX	0	0%	47,037	-40.7%	79,291

Total Provision for depreciation (Total III)

			29/02/2012		28/02/2011		28/02/2010
	Value at begining of period	7B	0	0%	99,003	1674.9%	5,578
Increases		TY	0	0%	81,813	-12.4%	93,425
Decreases		TZ	0	0%	22,331	0%	0
	Value at the end of period	UA	0	0%	176,124	77.9%	99,003

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

		29/02/2012		28/02/2011		28/02/2010
Gross value	VT	2,853,364	18.5%	2,408,128	100.4%	1,201,382
1 year at most	VU	2,736,943	19.4%	2,291,707	127.4%	1,007,847
More than one year	VV	116,421	0%	116,421	-39.8%	193,535

State of loans

		29/02/2012		28/02/2011		28/02/2010
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%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
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

		29/02/2012		28/02/2011		28/02/2010
Customers doubtful or disputed	VA	116,421	0%	116,421	-39.8%	193,535
Other claims customer	UX	2,537,085	25.5%	2,021,057	116.8%	932,101
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	192,777	0.2%	192,414	459.1%	34,417
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%	46,842	31.8%	35,541
Accounts receivable (including claims relating to the operation of pension titles)	VR	1,214	-94.9%	23,814	2086.8%	1,089

Prepaid

		29/02/2012		28/02/2011		28/02/2010
Prepaid	VS	5,867	-22.6%	7,579	61.3%	4,700

State Debt

			29/02/2012		28/02/2011		28/02/2010
	Total debt (gross)	VY	6,057,105	42.7%	4,244,338	88.5%	2,251,146
1 year at most		VZ2	6,057,105	42.7%	4,244,338	88.5%	2,251,146
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

			29/02/2012		28/02/2011		28/02/2010
	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	1,234,860	228.1%	376,412	39.4%	270,117
1 year at most		VG2	1,234,860	228.1%	376,412	39.4%	270,117
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	338	50.9%	224
1 year at most		8A2	0	0%	338	50.9%	224
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	2,598,413	9.4%	2,374,266	97.3%	1,203,508
1 year at most		8B2	2,598,413	9.4%	2,374,266	97.3%	1,203,508
More than 1 year and 5 years at most		8B3	2,598,413	9.4%	2,374,266	97.3%	1,203,508
	Personnel and associated accounts (gross)	8C1	15,493	-7.8%	16,797	22.0%	13,763
1 year at most		8C2	15,493	-7.8%	16,797	22.0%	13,763
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	31,186	-5.1%	32,851	17.5%	27,950
1 year at most		8D2	31,186	-5.1%	32,851	17.5%	27,950
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	1,663	779.9%	189	-99.1%	20,351
1 year at most		VW2	1,663	779.9%	189	-99.1%	20,351
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	25,263	33.5%	18,922	45.4%	13,018
1 year at most		VQ2	25,263	33.5%	18,922	45.4%	13,018
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	2,149,882	51.0%	1,424,218	102.8%	702,216
1 year at most		VI2	2,149,882	51.0%	1,424,218	102.8%	702,216
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	346	0%	346	0%	0
1 year at most		8K2	346	0%	346	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		29/02/2012		28/02/2011		28/02/2010
Loans made during the period	VJ	933,201	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		29/02/2012		28/02/2011		28/02/2010
Dividends	ZE	0	0%	0	0%	0

Commitments

		29/02/2012		28/02/2011		28/02/2010
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

		29/02/2012		28/02/2011		28/02/2010
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

		29/02/2012		28/02/2011		28/02/2010
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

		29/02/2012		28/02/2011		28/02/2010
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

		29/02/2012		28/02/2011		28/02/2010
Average number of employees	YP	05	-16.7%	06	20.0%	05

Groups and Shareholders

		29/02/2012		28/02/2011		28/02/2010
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

		29/02/2012		28/02/2011		28/02/2010	Sector Median 2012
Fixed Asset Financing		256.24	90.8%	134.33	38.0%	97.37	2.79	9084.2%
Global Debt		160 days	-3.0%	165 days	6.5%	155 days	100 days	60.0%
Working Capital Fund overall net		128 days	40.7%	91 days	8.3%	84 days	61 days	109.8%
Financial independence		41.25%	52.2%	27.10%	-40.2%	45.34%	229.37%	-82.0%
More ratios
Solvability		18.24%	81.5%	10.05%	-36.5%	15.83%	35.97%	-49.3%
Capacity debt futures		113.06%	-12.8%	129.68%	-20.6%	163.25%	1560.75%	-92.8%
Coverage of current assets by net working capital overall		62.97%	34.0%	46.99%	8.6%	43.26%	44.68%	40.9%
General Liquidity		0.45	-16.7%	0.54	20.0%	0.45	0.78	-42.3%
Restricted Liquidity		0.47	-25.4%	0.63	14.5%	0.55	1.12	-58.0%

Management or rotation

		29/02/2012		28/02/2011		28/02/2010	Sector Median 2012
Need background in operating working capital		127 days	62.8%	78 days	-4.9%	82 days	30 days	323.3%
Treasury		3 days	-78.6%	14 days	800%	-2 days	12 days	-75.0%
Inventory turnover of goods		150 days	53.1%	98 days	-14.0%	114 days	46 days	226.1%
Average length of credit granted to customers		70 days	-15.7%	83 days	7.8%	77 days	59 days	18.6%
Average length of credit obtained suppliers		79 days	-20.2%	99 days	6.5%	93 days	58 days	36.2%
More ratios
Inventory turnover of raw materials in industrial enterprises		0 days	0%	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	957.50 days	-
Rotation tangible assets		71673.96%	35.9%	52728.06%	27.1%	41494.04%	1815.52%	3847.8%

Profitability of the business

		29/02/2012		28/02/2011		28/02/2010	Sector Median 2012
Margin trading		16.71%	33.6%	12.51%	-27.6%	17.28	24.65%	-32.2%
Profitability of the business		9.67	207.0%	3.15	-31.7%	4.61	3.40%	184.4%
Net profit		6.67%	1207.8%	0.51%	-73.3%	1.91%	1.97%	238.6%
More ratios
Growth rate of turnover (excluding VAT)		46.78%	-39.3%	77.05%	365.8%	-28.99%	0%	0%
Rates integration		12.88%	74.8%	7.37%	-31.0%	10.68%	17.96%	-28.3%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		22.13%	-57.5%	52.09%	-2.6%	53.50%	65.17%	-66.0%
Weight interests		3.98	-21.8%	5.09%	-3.4%	5.27%	0.19%	1994.7%

Return on capital

		29/02/2012		28/02/2011		28/02/2010	Sector Median 2012
Cash flow from the overall profitability		7.06%	524.8%	1.13%	-44.1%	2.02%	2.70%	161.5%
Rates of economic profitability		28%	115.4%	13%	-23.5%	17%	14%	100%
Financial profitability		1396118%	186.0%	488113%	10.7%	440978%	90693.50%	1439.4%
Return on investment		30.32%	33.6%	22.69%	-14.7%	26.60%	10.74%	182.3%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	29/02/2012		28/02/2011		28/02/2010	Sector Median 2012
Turnover	13,615,186	46.8%	9,275,921	77.1%	5,239,038	653,509 €	1983.4%

Sales of goods	13,615,186	46.8%	9,275,771	77.1%	5,239,038
- Purchase of goods	13,848,743	58.3%	8,746,395	139.1%	3,658,159
+/- Stock of goods variation	-2,508,512	-297.5%	-631,115	-193.4%	675,486
Trading margin	2,274,955 €	96.0%	1,160,491 €	28.2%	905,393 €	138,450 €	1543.2%
	16.71 % CA	33.6%	12.51 % CA	-27.6%	17.28 % CA	25.64 % CA	-34.8%

Sale of goods produced	0	0%	150	0%	0
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	0 €	0%	150 €	0%	0 €	17,087 €	0%
	0.00 % CA	0%	0.00 % CA	0%	0.00 % CA	2.33 % CA	0%

Trading margin	2,274,955	96.0%	1,160,491	28.2%	905,393	138,450	1543.2%
+ Period Production	0	0%	150	0%	0	17,087	0%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	521,618	9.4%	476,633	37.8%	345,972
Added value	1,753,337 €	156.3%	684,008 €	22.3%	559,421 €	132,338 €	1224.9%
	12.88 % CA	74.8%	7.37 % CA	-31.0%	10.68 % CA	17.96 % CA	-28.3%

Added value	1,753,337 €	156.3%	684,008 €	22.3%	559,421 €	132,338 €	1224.9%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	48,662	36.5%	35,640	92.4%	18,521
- Personal charges	388,028	8.9%	356,317	19.1%	299,278
Gross operating surplus	1,316,647 €	350.8%	292,051 €	20.9%	241,622 €	21,510 €	6021.1%
	9.67 % CA	207.0%	3.15 % CA	-31.7%	4.61 % CA	3.40 % CA	184.4%

Gross operating surplus	1,316,647 €	350.8%	292,051 €	20.9%	241,622 €	21,510 €	6021.1%
+ Release of reserves and provisions	94,912	254.6%	26,766	1423.4%	1,757
+ Other operating income	676	-72.3%	2,444	-81.0%	12,832
- Depreciation/Amortisation	13,806	-83.7%	84,581	-14.4%	98,845
- Other charges	1,000	-95.1%	20,492	5101.0%	394
Operating result	1,397,429 €	546.4%	216,188 €	37.7%	156,972 €	14,636 €	9447.9%
	10.26 % CA	340.3%	2.33 % CA	-22.3%	3.00 % CA	2.42 % CA	324.0%

Operating result	1,397,429 €	546.4%	216,188 €	37.7%	156,972 €	14,636 €	9447.9%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	403,139	-2.4%	412,953	59.7%	258,655
- Financial charges	541,612	14.7%	472,270	71.1%	276,078
Pre-tax result	1,258,956 €	702.5%	156,871 €	12.4%	139,549 €	15,238 €	8162.0%
	9.25 % CA	447.3%	1.69 % CA	-36.5%	2.66 % CA	2.45 % CA	277.6%

Extraordinary income	0	0%	0	0%	0	10	0%
- Extraordinary charges	35	-100.0%	109,737	997509.1%	11
Extraordinary result	-35 €	100.0%	-109,737 €	-997509.1%	-11 €	0 €	0%
	0.00 % CA	0%	-1.18 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	1,258,956 €	702.5%	156,871 €	12.4%	139,549 €	15,238 €	8162.0%
Extraordinary result	-35 €	100.0%	-109,737 €	-997509.1%	-11 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	350,916	0%	0	0%	39,639
Net result	908,005 €	1826.4%	47,134 €	-52.8%	99,899 €	13,162 €	6798.7%
	6.67 % CA	1207.8%	0.51 % CA	-73.3%	1.91 % CA	1.97 % CA	238.6%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and histor

Status of collection

This company is not under monitoring

Group data

Ultimate parent company	MESSIKA GROUP SA
Direct parent	MESSIKA GROUP SA - 99.98 %
Group – Number of companies	3
Linkages – Number of companies	-
Number of countries	-

Group Structure

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MESSIKA GROUP SA

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Company Name	Safe Number	SIREN	Parts	Rating	Limit	Last account published
MESSIKA GROUP SA	FR00461880	301293999	-	55	275 000 €	29/02/2012
MESSIKA DIAMONDS	FR08703061	487734253	99.98%	75	150 000 €	29/02/2012
MESSIKA DESIGN	FR08707976	487779514	99.98%		-	29/02/2012

Shareholders

Linkages

Ultimate parent company	MESSIKA GROUP SA
Direct parent	MESSIKA GROUP SA - 99.98 %
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
16/01/2013	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 10134 - 487734253 RCS. MESSIKA DIAMONDS. Forme : Société par actions simplifiée. Adresse : 62 rue Lafayette 75009 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 29/02/2012.
23/03/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1449 - 487 734 253 RCS Paris. MESSIKA DIAMONDS. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes titulaire partant : SOCIETE FIDUCIAIRE INTERNATIONALE D'EXPERTISE COMPTABLE SOFINTEX, Commissaire aux comptes suppléant partant : Assayah, Joël. Capital : 50000 EUR. Activité : . Adresse du siège social : 62 rue Lafayette, 75009 Paris. Commentaires : modification survenue sur l'administration.
14/11/2011	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7840 - 487734253 RCS. MESSIKA DIAMONDS. Forme : Société par actions simplifiée. Adresse : 62 rue Lafayette 75009 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 28/02/2011.
18/11/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7534 - 487734253 RCS. MESSIKA DIAMONDS. Forme : Société par actions simplifiée. Adresse : 62 rue Lafayette 75009 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 28/02/2009.
18/11/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7532 - 487734253 RCS. MESSIKA DIAMONDS. Forme : Société par actions simplifiée. Adresse : 62 rue Lafayette 75009 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 28/02/2007.
18/11/2009	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 7533 - 487734253 RCS. MESSIKA DIAMONDS. Forme : Société par actions simplifiée. Adresse : 62 rue Lafayette 75009 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 29/02/2008.
28/10/2009	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2455 - 487 734 253 RCS Paris. MESSIKA DIAMONDS. Forme : Société par actions simplifiée. Administration : Commissaire aux comptes suppléant partant : Messageot, Patrick, nomination du Commissaire aux comptes suppléant : Assayah, Joël. Capital : 50000 EUR. Activité : Achat vente de diamants et de pierres précieuses dont le Caratage est inférieur a 1 carat. Adresse du siège social : 62 rue Lafayette, 75009 Paris. Commentaires : modification survenue sur l'administration.
28/10/2009	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 2456 - 487 734 253 RCS Paris. MESSIKA DIAMONDS. Forme : Société par actions simplifiée. Administration : nomination du Commissaire aux comptes titulaire : CABINET GUINARD, nomination du Commissaire aux comptes suppléant : Roumagne, Jean Thierry. Capital : 50000 EUR. Activité : Achat vente de diamants et de pierres précieuses dont le Caratage est inférieur a 1 carat. Adresse du siège social : 62 rue Lafayette, 75009 Paris. Commentaires : modification survenue sur l'administration.
11/08/2006	Bodacc B	Modifications et mutations diverses
2334 - RCS Paris B 487 734 253. RC 06-B 1783. MESSIKA DIAMONDS. Forme : S.A.S. Capital : 50 000 euros. Adresse du siège social : 62 rue Lafayette,, 75009 Commentaires : mise en activité de la société. Etablissement principal - Activité : achat et vente de diamants et de pierres précieuses dont le caratage est inférieur à 1 carat. Adresse : 62 rue Lafayette, 75009 Date de début d'activité : 1er mars 2006.
25/05/2006	Bodacc A	Création d'établissement
0888 - RCS Paris B 487 734 253. RC 06-B 1783. MESSIKA DIAMONDS. Forme : S.A.S. Capital : 50 000 euros. Adresse du siège social : 62 rue Lafayette, 75009 Paris. Administration : président : SAFRANA (Albert). Commissaire aux comptes titulaire : STE FIDUCIAIRE INTERNATIONALE D'EXPERTISE COMPTABLE-SOFINTEX. Commissaire aux comptes suppléant : MESSAGEOT (Patrick). Cette société se constitue , mais n'exploite provisoirement aucun établissement.

Company events history

Date	Description
21/10/2014	New closing date
21/10/2014	Updated articles of association
21/10/2014	Minutes of general meeting of shareholders
18/10/2013	Update Rating
18/10/2013	Update Limit
06/09/2013	New ultimate parent
06/09/2013	New parent detected
24/04/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
16/01/2013	Bodacc C : Deposit accounts notice
23/03/2012	Bodacc B: Various editing or changing
07/03/2012	Amendment
07/03/2012	Minutes of general meeting of shareholders
07/03/2012	New auditor
29/02/2012	New accounts available
14/11/2011	Bodacc C : Deposit accounts notice
11/10/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
11/04/2011	Bodacc C : Deposit accounts notice
28/02/2011	New accounts available
28/02/2010	New accounts available
18/11/2009	Bodacc C : Deposit accounts notice
28/10/2009	Bodacc B: Various editing or changing
12/10/2009	Acte modificatif
12/10/2009	Minutes of general meeting of shareholders
12/10/2009	New auditor
12/10/2009	PV d'Assemblée
12/10/2009	Changement de Commissaire aux Comptes
28/02/2009	New accounts available
29/02/2008	New accounts available
28/02/2007	New accounts available
26/01/2006	Private document
26/01/2006	Fund deposit certificate
26/01/2006	Articles of association
26/01/2006	Company formation
26/01/2006	Statuts

Establishment events history

Date	Description
07/12/2013	Update Limit
02/11/2013	Update Rating
07/09/2013	Update Rating
24/04/2013	Update Rating
24/04/2013	Update Limit
14/01/2013	Update Rating
14/01/2013	Update Limit
11/10/2011	Update Limit
10/03/2011	Update Limit
30/12/2009	Update Rating
20/10/2009	Update Rating
20/10/2009	Update Limit
16/12/2007	Update Limit

DIRECTORS

Name	M. SAFRANA ALBERT
Manager position	President	Date of birth	03/02/1962
Place of birth	PARIS (75014)
Type	Individual	Name at birth

PREVIOUS DIRECTORS

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Manager position	Title and name	Date of Birth/Place of Birth
President	M ALBERT SAFRANA	2/3/1962 - PARIS 14
President	M ALBERT SAFRANA	- - PARIS (75014)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.68
UK Pound	1	Rs.93.53
Euro	1	Rs.70.75

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	ANK

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.

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