MIRA INFORM REPORT

Report No. :	304510
Report Date :	27.01.2015

IDENTIFICATION DETAILS

Name :	ETABLISSEMENTS COGLIANDRO
Registered Office :	29 Rue Lieut Col Duchatelet 59200 Tourcoing
Country :	France
Financials (as on) :	31.12.2013
Date of Incorporation :	05/1989
Legal Form :	Plc with management board
Line of Business :	Wholesale (intercompany trade) of machinery for the textile and clothing industry (4664Z)
No. of Employees :	20 to 49 employees

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

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

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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

France today is one of the most modern countries in the world and is a leader among European nations. It plays an influential global role as a permanent member of the United Nations Security Council, NATO, the G-8, the G-20, the EU and other multilateral organizations. France rejoined NATO's integrated military command structure in 2009, reversing DE GAULLE's 1966 decision to take French forces out of NATO. Since 1958, it has constructed a hybrid presidential-parliamentary governing system resistant to the instabilities experienced in earlier, more purely parliamentary administrations. In recent decades, its reconciliation and cooperation with Germany have proved central to the economic integration of Europe, including the introduction of a common currency, the euro, in January 1999. In the early 21st century, five French overseas entities - French Guiana, Guadeloupe, Martinique, Mayotte, and Reunion - became French regions and were made part of France proper.

Source : CIA

company summary

		EUR VAT Number	FR86302898465
Activity (APE)	Wholesale (intercompany trade) of machinery for the textile and clothing industry (4664Z)	Legal form	Plc with management board
Phone	03 20 25 49 49	RCS Registration	RCS 7 302 898 465
Fax	03 20 25 49 49	Share capital	128,132 Euros
Address	ETABLISSEMENTS COGLIANDRO 29 RUE LIEUT COL DUCHATELET 59200 TOURCOING	Incorporated Date	05/1989
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data
Total number of Invoices available	2
Total number of Invoices paid within or up to 30 days after the due date	1
Total number of Invoices paid more than 30 days after the due date	1
Total number of Invoices currently outstanding where the due date has not yet been reached	0
Total number of Invoices currently outstanding beyond the due date	0

No social security and tax office preferential right to date

Current Directors

2

Trading to Date	12/31/2013	12/31/2012	12/31/2011
Turnover	4,733,707 €	4,424,966 €	4,450,370 €
Gross Operating Surplus	1.61 % Turnover	0.88 % Turnover	6.28 % Turnover
Shareholders’ equity	1,786,193 €	1,746,084 €	1,732,198 €
Net result	40,109 €	13,886 €	166,312 €
Employees	20 to 49 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Activity (APE)	Wholesale (intercompany trade) of machinery for the textile and clothing industry (4664Z)
RCS Registration	RCS 7 302 898 465	Share capital	128,132 Euros
Registration Court	(59)	Legal form	Plc with management board
Court Registry Number	19 7 4B40002	EUR VAT Number	FR86302898465
Incorporation Date	05/1989	Formation Date	01/1972
Deregistration Date		Last account Date	31/12/2013
Nationality	France

Establishment details

Activity (APE)	Wholesale (intercompany trade) of machinery for the textile and clothing industry (4664Z)	Business Pages FT®	DEMENAGEMENTS INDUSTRIELS ET DE BUREAUX
Postal Address	ETABLISSEMENTS COGLIANDRO 29 RUE LIEUT COL DUCHATELET 59200 TOURCOING	Trading Address	29 RUE LIEUT COL DUCHATELET 59200 TOURCOING
Telephone	03 20 25 49 49
Fax	03 20 25 49 49

Type	Head office	Status	Economically active
Formation Date	02/1989	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Nord (59)	Region	Nord-Pas-de-Calais
District	5	Area	97
City	TOURCOING	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	1 branch entities in this company
Head office	> ETABLISSEMENTS COGLIANDRO <<<  - Commerce de gros (commerce interentreprises) de machines pour l'industrie textile et l'habillement (4664Z)  in TOURCOING  (59200)
Secondary establishments	>  ETABLISSEMENTS COGLIANDRO  - Commerce de gros (commerce interentreprises) de machines pour l'industrie textile et l'habillement (4664Z)  in FOUGEROLLES  (70220)

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

20 to 49 employees

Company workforce

20 to 49 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2013	31/12/2012	31/12/2011
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	11/09/2014	13/05/2014	28/09/2012
Activity Code	4664Z	4664Z	4664Z
Employees	0	22	22

Active account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	243,455	24.5%	195,619	84.8%	105,882	24,088.50	910.7%
- Intangible assets	92	-60.0%	230	-37.7%	369	0	0%
- Tangible assets	198,646	24.4%	159,688	68.4%	94,843	6,074.50	3170.2%
- Financial assets	44,717	25.3%	35,701	234.6%	10,670	703	6260.9%
Net current assets	2,474,013	-13.1%	2,846,485	3.0%	2,764,129	283,796	771.8%
- Stocks	1,259,710	-23.0%	1,636,147	6.8%	1,531,953	39,922.50	3055.4%
- Advanced payments	73,100	-13.1%	62,000	0%	0	0	0%
- Receivables	591,529	-14.1%	688,685	-5.9%	732,005	83,354.50	609.7%
- Securities and cash	549,674	19.6%	459,653	-8.1%	500,171	70,885	675.4%
- Prepaid expenses	-	-	-	-	-	201.50	-
Accounts of regularization	1,758	1064.2%	151	7450.0%	02	0	0%
Total Assets	2,719,226	-10.6%	3,042,255	6.0%	2,870,013	318,579	753.5%

Passive Account

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Shareholders' equity	1,786,193	2.3%	1,746,084	0.8%	1,732,198	183,745.50	872.1%
Share capital	128,132	0%	128,132	0%	128,132	18,842.50	580.0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	2,415	46.1%	1,653	-61.5%	4,293	0	0%
Liabilities	930,618	-28.1%	1,294,518	14.2%	1,133,458	108,097.50	760.9%
- Financial liabilities	97,219	49.6%	64,976	344.6%	14,613	4,458	2080.8%
- Advanced payments received	121,800	-61.3%	314,620	304.2%	77,830	0	0%
- Trade account payables	271,558	-37.0%	431,369	-31.7%	631,238	25,905.50	948.3%
- Tax and social liabilities	208,947	-0.4%	209,811	-18.2%	256,356	67,094.50	211.4%
- Other debts and fixed assets liabilities	14,793	332.3%	3,422	-73.9%	13,092	4,563.50	224.2%
Account regularization	216,301	-20.0%	270,320	92.5%	140,393	0	0%
Total liabilities	2,719,226	-10.6%	3,042,255	6.0%	2,870,013	318,579	753.5%

Results

Annual Accounts	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Sales of Goods	4,767,892	5.9%	4,503,949	-1.6%	4,577,704	348,528	1268.0%
Net turnover	4,733,707	7.0%	4,424,966	-0.6%	4,450,370	339,984.50	1292.3%
- of which net export turnover	3,818,013	21.2%	3,149,960	0.9%	3,121,454	6,029.50	63222.2%
Operating charges	4,749,372	5.5%	4,500,398	3.5%	4,347,716	344,562	1278.4%
Operating profit/loss	18,520	421.5%	3,551	-98.5%	229,988	7,718.50	139.9%
Financial income	3,899	-42.2%	6,743	-7.0%	7,252	208.50	1770.0%
Financial charges	4,093	94.3%	2,107	-33.2%	3,153	271	1410.3%
Financial profit/loss	-194	-104.2%	4,636	13.1%	4,099	25.50	-860.8%
Pretax net operating income	18,326	123.8%	8,187	-96.5%	234,087	6,117.50	199.6%
Extraordinary income	33,089	121.0%	14,970	402.5%	2,979	142.50	23120.4%
Extraordinary charges	6,167	24.3%	4,963	403.9%	985	141	4273.8%
Extraordinary profit/loss	26,922	169.0%	10,007	401.9%	1,994	0	0%
Net result	40,109	188.8%	13,886	-91.7%	166,312	6,828.50	487.4%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2013	31/12/2012	31/12/2011
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2013		31/12/2012		31/12/2011
	Grand Total (I to VI)	Net	2,719,226	-10.6%	3,042,255	6.0%	2,870,013
	Gross	CO	3,334,856	-9.6%	3,690,169	4.6%	3,528,539
	Amortisation	1A	615,630	-5.0%	647,914	-1.6%	658,526

Non declared distributed capital (I)

		31/12/2013		31/12/2012		31/12/2011
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

			31/12/2013		31/12/2012		31/12/2011
	Total Active fixed asset (II)	Net	243,455	24.5%	195,619	84.8%	105,882
	Gross	BJ	686,291	5.4%	650,878	19.5%	544,457
	Amortisation	BK	442,836	-2.7%	455,259	3.8%	438,575

Intangilble fixed assets

			31/12/2013		31/12/2012		31/12/2011
	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	92	-60.0%	230	-37.7%	369
	Gross	AF	7,874	0%	7,874	0%	7,874
	Amortisation	AG	7,782	1.8%	7,644	1.9%	7,505
	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	92	-60.0%	230	-37.7%	369

Tangilble fixed assets

			31/12/2013		31/12/2012		31/12/2011
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	08	-91.2%	91	-47.7%	174
	Gross	AP	833	0%	833	0%	833
	Amortisation	AQ	825	11.2%	742	12.6%	659
	Plant	Net	19,857	-2.9%	20,450	6.3%	19,241
	Gross	AR	60,152	4.3%	57,653	-4.7%	60,524
	Amortisation	AS	40,295	8.3%	37,203	-9.9%	41,283
	Other tangible fixed assets	Net	178,781	28.5%	139,147	84.5%	75,428
	Gross	AT	572,715	4.4%	548,817	18.1%	464,556
	Amortisation	AU	393,934	-3.8%	409,670	5.3%	389,128
	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	198,646		159,688		94,843

Financial assets

			31/12/2013		31/12/2012		31/12/2011
	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	35,016	34.7%	26,000	2563.9%	976
	Gross	CU	35,016	34.7%	26,000	2563.9%	976
	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	9,701	0%	9,701	0.1%	9,694
	Gross	BH	9,701	0%	9,701	0.1%	9,694
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		44,717		35,701		10,670

Current Assets (III)

			31/12/2013		31/12/2012		31/12/2011
	Total Assets	Net	2,474,013	-13.1%	2,846,485	3.0%	2,764,129
	Gross	CJ	2,646,807	-12.9%	3,039,140	1.8%	2,984,080
	Amortisation	CK	172,794	-10.3%	192,655	-12.4%	219,951

Stocks

			31/12/2013		31/12/2012		31/12/2011
	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	85,589	508.5%	14,066	4.0%	13,529
	Gross	BP	85,589	508.5%	14,066	4.0%	13,529
	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	1,174,121	-27.6%	1,622,081	6.8%	1,518,424
	Gross	BT	1,266,570	-27.1%	1,736,229	5.2%	1,649,868
	Amortisation	BU	92,449	-19.0%	114,148	-13.2%	131,444
	Sub Total Stocks	Net	1,259,710	-23.0%	1,636,147	6.8%	1,531,953

Advance payments to suppliers

			31/12/2013		31/12/2012		31/12/2011
	Advance payments to suppliers	Net	73,100	17.9%	62,000	0%	0
	Gross	BV	73,100	17.9%	62,000	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2013		31/12/2012		31/12/2011
	Trade accounts receivable	Net	426,628	-10.5%	476,748	-9.6%	527,251
	Gross	BX	506,973	-8.7%	555,255	-9.8%	615,758
	Amortisation	BY	80,345	2.3%	78,507	-11.3%	88,507
	Other debtors	Net	108,680	-13.0%	124,894	-33.3%	187,330
	Gross	BZ	108,680	-13.0%	124,894	-33.3%	187,330
	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	535,308	-11.0%	601,642	-15.8%	714,581

Divers

			31/12/2013		31/12/2012		31/12/2011
	Investment securities	Net	90,445	-41.4%	154,472	-38.6%	251,747
	Gross	CD	90,445	-41.4%	154,472	-38.6%	251,747
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	459,229	50.5%	305,181	22.8%	248,424
	Gross	CF	459,229	50.5%	305,181	22.8%	248,424
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	549,674	19.6%	459,653	-8.1%	500,171

Prepaid expenses

			31/12/2013		31/12/2012		31/12/2011
	Prepaid expenses	Net	56,221	-35.4%	87,043	399.6%	17,424
	Gross	CH	56,221	-35.4%	87,043	399.6%	17,424
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2013		31/12/2012		31/12/2011
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	1,758	1064.2%	151	7450.0%	02
Gross		1,758	1064.2%	151	7450.0%	02

References

		31/12/2013		31/12/2012		31/12/2011
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts – Passive

Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		31/12/2013		31/12/2012		31/12/2011
Grand Total (I to V)	EE	2,719,226	-10.6%	3,042,255	6.0%	2,870,013

Shareholder Equity (I)

			31/12/2013		31/12/2012		31/12/2011
	Total shareholders' equity (Total I)	DL	1,786,193	2.3%	1,746,084	0.8%	1,732,198
	Equity and shareholders' equity	DA	128,132	0%	128,132	0%	128,132
	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	12,813	0%	12,813	0%	12,813
	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	1,605,139	0.9%	1,591,253	11.7%	1,424,941
	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	40,109	188.8%	13,886	-91.7%	166,312
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2013		31/12/2012		31/12/2011
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2013		31/12/2012		31/12/2011
	Total provisions for risks and charges (Total III)	DR	2,415	46.1%	1,653	-61.5%	4,293
	Risk provisions	DP	2,415	46.1%	1,653	-61.5%	4,293
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2013		31/12/2012		31/12/2011
	Total Liabilities (Total IV)	EC	930,618	-28.1%	1,294,518	14.2%	1,133,458
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	97,219	49.6%	64,976	344.6%	14,613
	Sundry loans and financial liabilities	DV	0	0%	0	0%	0
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	121,800	-61.3%	314,620	304.2%	77,830
	Trade accounts payables	DX	271,558	-37.0%	431,369	-31.7%	631,238
	Tax and social security liabilities	DY	208,947	-0.4%	209,811	-18.2%	256,356
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	14,793	332.3%	3,422	-73.7%	13,028

Translation loss (V)

		31/12/2013		31/12/2012		31/12/2011
Translation loss (Total V)	ED	0	0%	0	0%	64

Equalization accounts

		31/12/2013		31/12/2012		31/12/2011
Deferred income	EB	216,301	-20.0%	270,320	92.5%	140,393

References

		31/12/2013		31/12/2012		31/12/2011
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	761,845	-19.4%	945,044	-9.8%	1,047,650
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

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

1- Operating result (I-II)

		31/12/2013		31/12/2012		31/12/2011
Operating result (Total I-II)	GG	18,520	421.5%	3,551	-98.5%	229,988

2 - Financial result (V - VI)

		31/12/2013		31/12/2012		31/12/2011
Financial result (Total V-VI)	GV	-194	-104.2%	4,636	13.1%	4,099

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

		31/12/2013		31/12/2012		31/12/2011
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	18,326	123.8%	8,187	-96.5%	234,087

4 - Extraordinary result (VII-VIII)

		31/12/2013		31/12/2012		31/12/2011
Extraordinary result (Total VII-VIII)	HI	26,922	169.0%	10,007	401.9%	1,994

Profit or loss

		31/12/2013		31/12/2012		31/12/2011
Profit or loss	HN	40,109	188.8%	13,886	-91.7%	166,312

Total Income (I+III+V+VII)

		31/12/2013		31/12/2012		31/12/2011
Total Income (I+III+V+VII)	HL	4,804,880	6.2%	4,525,662	-1.4%	4,587,935

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

		31/12/2013		31/12/2012		31/12/2011
Total charges (Total II+IV+VI+VIII+IX+X)	HM	4,764,771	5.6%	4,511,776	2.0%	4,421,623

Operating income (I)

		31/12/2013		31/12/2012		31/12/2011
Total operating income (Total I)	FR	4,767,892	5.9%	4,503,949	-1.6%	4,577,704

Operating income (details)

			31/12/2013		31/12/2012		31/12/2011
	Sale of goods for resale	FC	3,028,170	-14.2%	3,530,385	7.2%	3,292,934
	France	FA	65,871	-87.5%	526,822	52.3%	345,836
	Export	FB	2,962,299	-1.4%	3,003,563	1.9%	2,947,098
	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	1,705,537	90.7%	894,581	-22.7%	1,157,436
	France	FG	849,823	13.6%	748,184	-23.9%	983,080
	Export	FH	855,714	484.5%	146,397	-16.0%	174,356
	Net turnover	FL	4,733,707	7.0%	4,424,966	-0.6%	4,450,370
	France	FJ	915,694	-28.2%	1,275,006	-4.1%	1,328,916
	Export	FK	3,818,013	21.2%	3,149,960	0.9%	3,121,454
	Stocked production	FM	-14,066	-2724.3%	536	-92.1%	6,790
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	46,940	-40.1%	78,364	-29.3%	110,911
	Other income	FQ	1,311	1479.5%	83	-99.1%	9,633

Operating charges (II)

		31/12/2013		31/12/2012		31/12/2011
Total operating charges (Total II)	GF	4,749,372	5.5%	4,500,398	3.5%	4,347,716

Exploitation charges

		31/12/2013		31/12/2012		31/12/2011
Purchase of goods for resale	FS	1,412,958	-35.4%	2,186,522	8.7%	2,011,847
Change in stocks of goods for resale	FT	469,659	643.8%	-86,361	84.9%	-570,548
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	1,572,888	38.7%	1,133,928	-28.7%	1,590,193
Tax, duty and similar payments	FX	83,670	6.8%	78,340	-0.5%	78,771
Payroll	FY	763,577	6.1%	719,488	0.4%	716,681
Social security costs	FZ	340,547	-4.0%	354,862	1.1%	350,940

Depreciation

		31/12/2013		31/12/2012		31/12/2011
Depreciation of fixed assets	GA	44,697	38.8%	32,193	18.6%	27,139
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	25,578	-44.9%	46,411	-44.7%	83,949
Provisions for risks and charges	GD	657	0%	0	0%	2,789

Other charges

		31/12/2013		31/12/2012		31/12/2011
Other charges	GE	35,141	0.4%	35,015	-37.4%	55,955

Operating charges (III-IV)

		31/12/2013		31/12/2012		31/12/2011
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/12/2013		31/12/2012		31/12/2011
	Total financial income (Total V)	GP	3,899	-42.2%	6,743	-7.0%	7,252
	Share financial income	GJ	22	-15.4%	26	0%	26
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	57	1325.0%	04	-99.8%	1,690
	Released provisions and transferred charges	GM	151	-80.9%	789	422.5%	151
	Exchange gains	GN	0	0%	26	-58.7%	63
	Net income from disposal of investment securities	GO	3,669	-37.8%	5,898	10.8%	5,322

Financial Charge (VI)

			31/12/2013		31/12/2012		31/12/2011
	Total financial charge (Total VI)	GU	4,093	94.3%	2,107	-33.2%	3,153
	Financial reserves and provisions	GQ	1,757	1079.2%	149	7350.0%	02
	Interest and similar charges	GR	2,336	20.7%	1,936	-38.6%	3,151
	Exchange losses	GS	0	0%	22	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2013		31/12/2012		31/12/2011
	Total extraordinary income (Total VII)	HD	33,089	121.0%	14,970	402.5%	2,979
	Extraordinary operating income	HA	19,589	56.7%	12,500	319.6%	2,979
	Extraordinary income from capital transactions	HB	13,500	446.6%	2,470	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/12/2013		31/12/2012		31/12/2011
	Total extraordinary charges (Total VIII)	HH	6,167	24.3%	4,963	403.9%	985
	Extraordinary operating charges	HE	6,167	24.3%	4,963	403.9%	985
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2013		31/12/2012		31/12/2011
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2013		31/12/2012		31/12/2011
Tax on profits (Total X)	HK	5,139	19.3%	4,308	-93.8%	69,769

References

		31/12/2013		31/12/2012		31/12/2011
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%	2,657	118.9%	1,214
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomes tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2013		31/12/2012		31/12/2011
	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%	15,532	1473.7%	987
	Gross value at the end of period	OL	0	0%	650,878	19.5%	544,457

Research and development Charge (Total I)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	KD	0	0%	7,874	5.6%	7,459
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	415
	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%	7,874	0%	7,874

Tangible fixed assets (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	LN	0	0%	525,913	1.2%	519,759
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	96,900	1257.0%	7,141
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	15,510	1471.4%	987
	Gross value at the end of period	NH	0	0%	607,303	15.5%	525,913

Fiancial assets (Total IV)

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	LQ	0	0%	10,670	0.2%	10,646
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	25,053	104287.5%	24
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	22	0%	0
	Gross value at the end of period	NK	0	0%	35,701	234.6%	10,670

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

			31/12/2013		31/12/2012		31/12/2011
	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)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	PE	0	0%	7,505	0.6%	7,459
Increases		PF	0	0%	139	202.2%	46
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	7,644	1.9%	7,505

Total fixed assets amotisation (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Reserve for depreciation value at begin of period	QU	0	0%	431,070	6.4%	404,965
Increases		QV	0	0%	32,055	18.3%	27,092
Decreases		QW	0	0%	15,510	1471.4%	987
	Decreasess by budget item transfer	QX	0	0%	447,615	3.8%	431,070

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2013		31/12/2012		31/12/2011
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2013		31/12/2012		31/12/2011
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7C	0	0%	224,242	-9.3%	247,350
Increases		UB	0	0%	46,562	-46.3%	86,741
Decreases		UC	0	0%	76,497	-30.4%	109,849
	Value at the end of period	UD	0	0%	194,307	-13.3%	224,242

Includes Total allocations

Operating	UE	0	0%	46,411	-46.5%	86,739
Financial	UG	0	0%	151	7450.0%	02
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	76,495	-30.3%	109,698
Financial	UH	0	0%	02	-98.7%	151
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	5Z	0	0%	4,293	159.9%	1,652
Increases		TV	0	0%	151	-94.6%	2,792
Decreases		TW	0	0%	2,792	1749.0%	151
	Value at the end of period	TX	0	0%	1,652	-61.5%	4,293

Total Provision for depreciation (Total III)

			31/12/2013		31/12/2012		31/12/2011
	Value at begining of period	7B	0	0%	219,949	-10.5%	245,698
Increases		TY	0	0%	46,411	-44.7%	83,949
Decreases		TZ	0	0%	73,705	-32.8%	109,698
	Value at the end of period	UA	0	0%	192,655	-12.4%	219,949

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

		31/12/2013		31/12/2012		31/12/2011
Gross value	VT	0	0%	776,893	-6.4%	830,206
1 year at most	VU	0	0%	674,869	25.3%	538,410
More than one year	VV	0	0%	102,024	-65.0%	291,796

State of loans

		31/12/2013		31/12/2012		31/12/2011
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%	9,701	0.1%	9,694
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2013		31/12/2012		31/12/2011
Customers doubtful or disputed	VA	0	0%	94,131	-67.2%	287,350
Other claims customer	UX	0	0%	461,124	40.4%	328,408
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%	2,773	758.5%	323
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	65,461	0%	0
Value added tax	VB	0	0%	49,297	-73.1%	183,436
Other taxes and payments assimilated	VN	0	0%	1,615	928.7%	157
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%	5,748	68.4%	3,414

Prepaid

		31/12/2013		31/12/2012		31/12/2011
Prepaid	VS	0	0%	87,043	399.6%	17,424

State Debt

			31/12/2013		31/12/2012		31/12/2011
	Total debt (gross)	VY	0	0%	979,898	-7.2%	1,055,629
1 year at most		VZ2	0	0%	0	0%	1,047,650
More than 1 year and 5 years at most		VZ3	0	0%	945,044	11744.1%	7,979
More than 5 years		VZ4	0	0%	34,854	0%	0

Details

			31/12/2013		31/12/2012		31/12/2011
	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%	64,976	344.6%	14,613
1 year at most		VH2	0	0%	0	0%	6,634
More than 1 year and 5 years at most		VH3	0	0%	30,122	277.5%	7,979
	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%	431,369	-31.7%	631,238
1 year at most		8B2	0	0%	431,369	-31.7%	631,238
More than 1 year and 5 years at most		8B3	0	0%	431,369	-31.7%	631,238
	Personnel and associated accounts (gross)	8C1	0	0%	57,352	-30.6%	82,639
1 year at most		8C2	0	0%	0	0%	82,639
More than 1 year and 5 years at most		8C3	0	0%	57,352	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	152,459	4.0%	146,583
1 year at most		8D2	0	0%	0	0%	146,583
More than 1 year and 5 years at most		8D3	0	0%	152,459	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	14,394
1 year at most		8E2	0	0%	0	0%	14,394
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	12,740
1 year at most		VW2	0	0%	0	0%	12,740
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%	0
1 year at most		VQ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	3,422	-73.7%	13,029
1 year at most		8K2	0	0%	0	0%	13,029
More than 1 year and 5 years at most		8K3	0	0%	3,422	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%	270,320	92.5%	140,393
1 year at most		8L2	0	0%	0	0%	140,393
More than 1 year and 5 years at most		8L3	0	0%	270,320	0%	0

References

		31/12/2013		31/12/2012		31/12/2011
Loans made during the period	VJ	0	0%	70,400	252.0%	20,000
Debt repaid during the period	VK	0	0%	18,941	251.6%	5,387

Table allocation results and other information
Dividends distributed

		31/12/2013		31/12/2012		31/12/2011
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2013		31/12/2012		31/12/2011
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2013		31/12/2012		31/12/2011
Subcontracting	YT	0	0%	0	0%	332,088
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	176,748
Staff outside the company	YU	0	0%	0	0%	18,417
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	379,188
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	683,752
Total Other purchases and external	ZJ	0	0%	0	0%	1,590,193

Taxes and Fees

		31/12/2013		31/12/2012		31/12/2011
Business tax	YW	0	0%	0	0%	24,854
Other taxes and payments assimilated	9Z	0	0%	0	0%	53,917
Total taxes and fees	YX	0	0%	0	0%	78,771

VAT

		31/12/2013		31/12/2012		31/12/2011
Amount VAT collected	YY	0	0%	0	0%	538,690
Total VAT on goods and services	YZ	0	0%	0	0%	445,497

Average number of employees

		31/12/2013		31/12/2012		31/12/2011
Average number of employees	YP	0	0%	22	0%	22

Groups and Shareholders

		31/12/2013		31/12/2012		31/12/2011
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Fixed Asset Financing		3.39	-2.6%	3.48	-13.4%	4.02	3.31	2.4%
Global Debt		71 days	-32.4%	105 days	14.1%	92 days	100 days	-29.0%
Working Capital Fund overall net		125 days	-5.3%	132 days	-0.8%	133 days	121 days	3.3%
Financial independence		1837.29%	-31.6%	2687.28%	-77.3%	11853.82%	447.46%	310.6%
Solvability		65.69%	14.5%	57.39%	-4.9%	60.36%	52.15%	26.0%
Capacity debt futures		%	-	%	-	26110.91%	3138.89%	-
Coverage of current assets by net working capital overall		61.26%	17.7%	52.05%	1.8%	51.12%	56.40%	8.6%
General Liquidity			-		-	0.51	0.92	-
Restricted Liquidity			-		-	0.99	1.37	-

Management or rotation

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Need background in operating working capital		95 days	-12.8%	109 days	5.8%	103 days	49 days	93.9%
Treasury		42 days	13.5%	37 days	-7.5%	40 days	25 days	68.0%
Inventory turnover of goods		242 days	-18.8%	298 days	-27.7%	412 days	90 days	168.9%
Average length of credit granted to customers		39 days	-13.3%	45 days	2.3%	44 days	62 days	-37.1%
Average length of credit obtained suppliers		28 days	-41.7%	48 days	-26.2%	65 days	38.50 days	-27.3%
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	834 days	-
Rotation tangible assets		%	-	728.63%	-13.9%	846.22%	1065.71%	-

Profitability of the business

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Margin trading		24.20%	-25.1%	32.32%	-22.3%	41.61	31.01%	-22.0%
Profitability of the business		1.61	83.0%	0.88	-86.0%	6.28	2.66%	-39.5%
Net profit		0.85%	174.2%	0.31%	-91.7%	3.74%	1.49%	-43.0%
Growth rate of turnover (excluding VAT)		6.98%	1324.6%	-0.57%	96.3%	-15.59%	-5.79%	220.6%
Rates integration		26.70%	-0.8%	26.92%	-16.0%	32.03%	26.60%	0.4%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		87.34%	-3.1%	90.17%	20.4%	74.89%	81.27%	7.5%
Weight interests		0.09	80.0%	0.05%	-28.6%	0.07%	0.09%	0%

Return on capital

		31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Cash flow from the overall profitability		1.54%	308.1%	-0.74%	-139.4%	1.88%	2.06%	-25.2%
Rates of economic profitability		4%	100%	2%	-87.5%	16%	7%	-42.9%
Financial profitability		1786193%	2.3%	1746084%	0.8%	1732198%	115400.50%	1447.8%
Return on investment		2.35%	167.0%	0.88%	-90.9%	9.70%	4.57%	-48.6%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2013		31/12/2012		31/12/2011	Sector Median 2013
Turnover	4,733,707	7.0%	4,424,966	-0.6%	4,450,370	339,984 €	1292.3%

Sales of goods	3,028,170	-14.2%	3,530,385	7.2%	3,292,934
- Purchase of goods	1,412,958	-35.4%	2,186,522	8.7%	2,011,847
+/- Stock of goods variation	469,659	643.8%	-86,361	84.9%	-570,548
Tradin margin	1,145,553 €	-19.9%	1,430,224 €	-22.8%	1,851,635 €	105,661.50 €	984.2%
	24.20 % CA	-25.1%	32.32 % CA	-22.3%	41.61 % CA	31.01 % CA	-22.0%

Sale of goods produced	1,705,537	90.7%	894,581	-22.7%	1,157,436
+/- Stocked roduction	-14,066	-2724.3%	536	-92.1%	6,790
+ Self-constructed assets	0	0%	0	0%	0
Period production	1,691,471 €	89.0%	895,117 €	-23.1%	1,164,226 €	50,175.50 €	3271.1%
	35.73 % CA	76.6%	20.23 % CA	-22.7%	26.16 % CA	17.20 % CA	107.7%

Trading margin	1,145,553	-19.9%	1,430,224	-22.8%	1,851,635	105,661.50	984.2%
+ Period Production	1,691,471	89.0%	895,117	-23.1%	1,164,226	50,175.50	3271.1%
- 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	1,572,888	38.7%	1,133,928	-28.7%	1,590,193
Added value	1,264,136 €	6.1%	1,191,413 €	-16.4%	1,425,668 €	90,083 €	1303.3%
	26.70 % CA	-0.8%	26.92 % CA	-16.0%	32.03 % CA	26.60 % CA	0.4%

Added value	1,264,136 €	6.1%	1,191,413 €	-16.4%	1,425,668 €	90,083 €	1303.3%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	83,670	6.8%	78,340	-0.5%	78,771
- Personal charges	1,104,124	2.8%	1,074,350	0.6%	1,067,621
Gross operating surplus	76,342 €	97.1%	38,723 €	-86.1%	279,276 €	8,092 €	843.4%
	1.61 % CA	83.0%	0.88 % CA	-86.0%	6.28 % CA	2.66 % CA	-39.5%

Gross operating surplus	76,342 €	97.1%	38,723 €	-86.1%	279,276 €	8,092 €	843.4%
+ Release of reserves and provisions	46,940	-40.1%	78,364	-29.3%	110,911
+ Other operating income	1,311	1479.5%	83	-99.1%	9,633
- Depreciation/Amortisation	70,932	-9.8%	78,604	-31.0%	113,877
- Other charges	35,141	0.4%	35,015	-37.4%	55,955
Operating result	18,520 €	421.5%	3,551 €	-98.5%	229,988 €	7,719 €	139.9%
	0.39 % CA	387.5%	0.08 % CA	-98.5%	5.17 % CA	2.04 % CA	-80.9%

Operating result	18,520 €	421.5%	3,551 €	-98.5%	229,988 €	7,719 €	139.9%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	3,899	-42.2%	6,743	-7.0%	7,252
- Financial charges	4,093	94.3%	2,107	-33.2%	3,153
Pre-tax result	18,326 €	123.8%	8,187 €	-96.5%	234,087 €	6,117.50 €	199.6%
	0.39 % CA	105.3%	0.19 % CA	-96.4%	5.26 % CA	1.56 % CA	-75.0%

Extraordinary income	33,089	121.0%	14,970	402.5%	2,979	142.50	23120.4%
- Extraordinary charges	6,167	24.3%	4,963	403.9%	985
Extraordinary result	26,922 €	169.0%	10,007 €	401.9%	1,994 €	0 €	0%
	0.57 % CA	147.8%	0.23 % CA	475.0%	0 % CA	0 % CA	0%

Pre-tax result	18,326 €	123.8%	8,187 €	-96.5%	234,087 €	6,117.50 €	199.6%
Extraordinary result	26,922 €	169.0%	10,007 €	401.9%	1,994 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	5,139	19.3%	4,308	-93.8%	69,769
Net result	40,109 €	188.8%	13,886 €	-91.7%	166,312 €	6,829 €	487.3%
	0.85 % CA	174.2%	0.31 % CA	-91.7%	3.74 % CA	1.49 % CA	-43.0%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	26/05/2014
Status of Monitoring	No social security and tax office preferential right to date

Group data

Group Structure

No group information available for the company

Shareholders

No Shareholders available for this company

Linkages

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
29/09/2014	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE MÉTROPOLE 5683 - 302898465 RCS. ETABLISSEMENTS COGLIANDRO. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 29 rue du Lieutenant Colonel Duchatelet 59200 Tourcoing. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
02/06/2014	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE MÉTROPOLE 8076 - 302898465 RCS. ETABLISSEMENTS COGLIANDRO. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 29 rue du Lieutenant Colonel Duchatelet 59200 Tourcoing. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
20/05/2014	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE METROPOLE 619 - 302 898 465 RCS Lille Métropole. ETABLISSEMENTS COGLIANDRO. Forme : Société anonyme à directoire et conseil de surveillance. Administration : Commissaire aux comptes titulaire partant : KPMG SA, nomination du Commissaire aux comptes titulaire : KPMG AUDIT NORD, modification du Commissaire aux comptes suppléant Merlin, Jacques, nomination du Commissaire aux comptes suppléant : KPMG AUDIT PARIS ET CENTRE. Capital : 128132 EUR. Activité : . Adresse du siège social : 29 rue du Lieutenant Colonel Duchatelet, 59200 Tourcoing. Commentaires : modification survenue sur l'administration.
03/10/2013	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE LILLE MÉTROPOLE 4880 - 302898465 RCS. ETABLISSEMENTS COGLIANDRO. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 29 rue du Lieutenant Colonel Duchatelet 59200 Tourcoing. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
17/09/2012	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 9221 - 302898465 RCS. ETABLISSEMENTS COGLIANDRO. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 29 rue du Lieutenant Colonel Duchatelet 59200 Tourcoing. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
03/09/2010	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 5942 - 302898465 RCS. ETABLISSEMENTS COGLIANDRO. Forme : Société anonyme à directoire. Adresse : 29 rue du Lieutenant Colonel Duchatelet 59200 Tourcoing. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
31/08/2009	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 9363 - 302898465 RCS. ETABLISSEMENTS COGLIANDRO. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 29 rue du Lieutenant Colonel Duchatelet 59200 Tourcoing. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
29/09/2008	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 6655 - 302898465 RCS. ETABLISSEMENTS COGLIANDRO. Forme : Société anonyme à directoire et conseil de surveillance. Adresse : 29 rue du Lieutenant Colonel Duchatelet 59200 Tourcoing. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
04/11/2007	Bodacc C	Avis de dépôt des comptes
3632 - 302 898 465. RCS Roubaix ETABLISSEMENTS COGLIANDRO. Forme: Société Anonyme à Directoire et Conseil de Surveillance. Adresse du siège social: 29 rue du Lieutenant Colonel Duchatelet 59200 Tourcoing. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
05/10/2006	Bodacc C	Avis de dépôt des comptes
2899 - RCS Roubaix-Tourcoing B 302 898 465. RC 74-B 20002. ETABLISSEMENTS COGLIANDRO. Forme: S.A. à directoire. . Adresse du siège social: 29, rue du Lieutenant Colonel Duchatelet,59200 Tourcoing. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
17/03/2006	Bodacc C	Avis de dépôt des comptes
2049 - RCS Roubaix-Tourcoing B 302 898 465. RC 74-B 20002. ETABLISSEMENTS COGLIANDRO. Forme: S.A. à directoire. . Adresse du siège social: 29, rue du Lieutenant Colonel Duchatelet,59200 Tourcoing. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
18/06/2005	Bodacc C	Avis de dépôt des comptes
2289 - RCS Roubaix-Tourcoing B 302 898 465. RC 74-B 20002. ETABLISSEMENTS COGLIANDRO. Forme: S.A. à directoire. . Adresse du siège social: 29, rue du Lieutenant Colonel Duchatelet,59200 Tourcoing. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.
25/08/2002	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Roubaix-Tourcoing B 302898465 RC 74-B 20002 ETABLISSEMENTS COGLIANDRO. Forme : S.A. à conseil d'administration. Capital : 128 132 euros. Adresse : 29 rue du Lieutenant-Colonel-Duchatelet, 59200 Tourcoing. Administration : président du directoire : TRIVERI (Marco). Président du conseil de surveillance : COGLIANDRO (Consolato). Vice-président du conseil de surveillance : M m e COGLIANDRO ( Nathalie). Membres du conseil de surveillance : M m e COGLIANDRO, née MIGNOT (Chantal, Denise) M m e COGLIANDRO (Nathalie). Commissaire aux comptes titulaire : FIDUCIAIRE DU NORD D'EXPERTISE COMPTABLE. Commissaire aux comptes suppléant : MERLIN (Jacques) Nouvelle situation du siège social. Forme : S.A. à directoire Etablissement principal: Activité : démontage de matériel textile. Adresse : 29 rue du Lieutenant-Colonel-Duchatelet, 59200 Tourcoing. Date d'effet : 1 e r juillet 2002.
29/05/2002	Bodacc B	Modifications et mutations diverses
RCS Roubaix-Tourcoing B 302898465 RC 74- B 20002 ETABLISSEMENTS COGLIANDRO. Forme : S.A. à conseil d'administration. Capital : 128 132 euros. Adresse du siège social : 29 rue du Lieutenant-Colonel-Duchatelet, 59200 Tourcoing. Administration : président du conseil d'administration : TRIVERI (Marco). Administrateurs : M m e COGLIANDRO, née MIGNOT (Chantal, Denise) COGLIANDRO (Consolato). Commissaire aux comptes titulaire : FIDUCIAIRE DU NORD D'EXPERTISE COMPTABLE. Commissaire aux comptes suppléant : MERLIN (Jacques). Ancien président du conseil d'administration : COGLIANDRO (Consolato) Etablissement principal: Activité : démontage de matériel de textile. Adresse : 29 rue du Lieutenant-Colonel-Duchatelet, 59200 Tourcoing. Date d'effet : 20 mars 2002.
19/12/1999	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Roubaix-Tourcoing B 302898465 RC 74-B 20002 ETABLISSEMENTS COGLIANDRO. Forme : S.A. à conseil d'administration. Capital : 257 500 F. Adresse : 29 rue du Lieutenant- Colonel-Duchatelet, 59200 Tourcoing Nouvelle situation du siège social. Capital : 128 132 euros Etablissement principal: Activité : démontage de matériel de textile. Adresse : 29 rue du Lieutenant-Colonel-Duchatelet, 59200 Tourcoing. Date d'effet : 10 novembre 1999.

Company events history

Date	Description
29/09/2014	Bodacc C : Deposit accounts notice
12/09/2014	Update Limit
12/09/2014	Update Rating
12/09/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
02/06/2014	Bodacc C : Deposit accounts notice
28/05/2014	Update Rating
26/05/2014	Collection of preferential rights activated for this company
20/05/2014	Bodacc B: Various editing or changing
15/05/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
07/05/2014	Update Rating
05/05/2014	New auditor
05/05/2014	Minutes of general meeting of shareholders
31/12/2013	New accounts available
14/10/2013	Update Limit
14/10/2013	Update Rating
03/10/2013	Bodacc C : Deposit accounts notice
17/09/2013	Update Rating
17/09/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2012	New accounts available
02/10/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
17/09/2012	Bodacc C : Deposit accounts notice
31/12/2011	New accounts available
06/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
05/09/2011	Bodacc C : Deposit accounts notice
31/12/2010	Update of Company Activity
31/12/2010	New accounts available
31/12/2010	Modification of Company Activity
03/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	Update of Company Activity
31/12/2009	New accounts available
31/12/2009	Modification of Company Activity
31/08/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
29/09/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
31/12/2004	New accounts available
31/12/2003	New accounts available
08/08/2002	Changement de Président (PDG, PCA)
08/08/2002	Changement de Forme Juridique avec changement de catégorie
08/08/2002	Nomination/démission des organes de gestion
08/08/2002	Acte modificatif
08/08/2002	Statuts mis à jour
08/08/2002	PV d'Assemblée
08/08/2002	Modification du système d'administration des S.A.
08/08/2002	Acte sous seing privé
13/05/2002	PV du Conseil d'Administration
13/05/2002	Modification du Conseil d'Administration
13/05/2002	Nomination/démission des organes de gestion
13/05/2002	Changement de Président (PDG, PCA)
13/05/2002	Acte modificatif
13/05/2002	Acte sous seing privé
02/12/1999	Augmentation de Capital
02/12/1999	Acte sous seing privé
02/12/1999	Conversion du Capital Social en Euros
02/12/1999	Statuts mis à jour
02/12/1999	PV d'Assemblée

Establishment events history

Date	Description
12/09/2014	Update Rating
12/09/2014	Update Limit
17/09/2013	Update Limit
17/09/2013	Update Rating
05/08/2013	Update Rating
12/01/2013	Update of phone numbers
02/10/2012	Update Rating
02/10/2012	Update Limit
05/09/2012	Update Rating
06/09/2011	Update Rating
06/09/2011	Update Limit
04/09/2011	Update Limit
04/09/2011	Update Rating
28/06/2011	Update of phone numbers
07/06/2011	Update Rating
07/06/2011	Update Limit
03/05/2011	Update Rating
03/05/2011	Update Limit
31/12/2010	Update of Establishment Activity
31/12/2010	Modification of Head office Activity
15/12/2010	Update Rating
10/09/2010	Update Limit
10/09/2010	Update Rating
10/08/2010	Update Limit
10/08/2010	Update Rating
31/12/2009	Modification of Head office
30/12/2009	Update Rating
20/08/2009	Update Limit
20/08/2009	Update Rating
28/08/2008	Update Limit
13/01/2008	Update Limit
16/12/2007	Update Limit
10/12/2007	Update Limit
08/12/2007	Update Limit
11/09/2007	Update Limit
11/09/2007	Update Rating

directors

Name	M. TRIVERI MARCO
Manager position	President of the management board	Date of birth	03/12/1960
Place of birth	APRILIA (ITALIE)(ITALIE)
Type	Individual	Name at birth

Name	M. COGLIANDRO CONSOLATO
Manager position	President of the supervisory council	Date of birth	01/10/1941
Place of birth	PALIZZI (ITALIE)(ITALIE)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President of the management board	M MARCO TRIVERI	- - -
President of the management board	M MARCO TRIVERI	12/3/1960 - APRILIA (ITALIE)(ITALIE)
President of the supervisory council	M CONSOLATO COGLIANDRO	- - -
President of the supervisory council	M CONSOLATO COGLIANDRO	10/1/1941 - PALIZZI (ITALIE)(ITALIE)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.50
UK Pound	1	Rs.92.16
Euro	1	Rs.69.62

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	DPT

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.