MIRA INFORM REPORT

Report No. :	503715
Report Date :	14.04.2018

IDENTIFICATION DETAILS

Name :	GROUPE LEA NATURE
Registered Office :	Groupe Lea Nature, Pharmaconcept Communication Developpem, Avenue Paul Langevin, Bp 47, 17183 Perigny Cedex
Country :	France
Financials (as on) :	31.12.2016
Date of Incorporation :	October 1996
Legal Form :	Public limited company with board of directors
Line of Business :	Head Office Activities [We tried to confirm / obtain the detailed activity but the same is not available from any sources]
No. of Employees :	100

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Maximum credit limit :	Euro 475,000
Status :	Good
Payment Behaviour :	Regular
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.

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. France is the most visited country in the world with 83 million foreign tourists in 2016, including 530,000 visitors for the 2016 Euro Cup. 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 grew by 1.6% in 2017, up from 1.2% the year before. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2015, before falling to 9.5% in 2017. Youth unemployment in metropolitan France decreased from 24.6% in the fourth quarter of 2014 to 24% in the fourth quarter of 2016.

France’s public finances have historically been strained by high spending and low growth. Despite measures to restore public finances, the budget deficit rose from 3.3% of GDP in 2008 to 7.5% of GDP in 2009. In 2017, the budget deficit improved to 2.9% of GDP, bringing it in compliance with the EU-mandated 3% deficit target. Meanwhile, France's public debt rose from 89.5% of GDP in 2012 to 96.9% in 2017.

Since entering office in May 2017, President Emmanuel MACRON launched a series of economic reforms to improve competitiveness and boost economic growth. President MACRON campaigned on reforming France’s labor code and in late 2017 implemented a range of reforms to increase flexibility in the labor market by making it easier for firms to hire and fire and simplifying negotiations between employers and employees. In addition to labor reforms, President MACRON’s proposed 2018 budget cuts public spending, taxes, and social security contributions to spur private investment and increase purchasing power.

Source : CIA

COMPANY NAME AND SUMMARY

SIRET	409 957 529 00038
Name	GROUPE LEA NATURE
Acronym	-
Trade name	PHARMACONCEPT COMMUNICATION DEVELOP
Status	Economically active
Postal Address	GROUPE LEA NATURE PHARMACONCEPT COMMUNICATION DEVELOPPEM AVENUE PAUL LANGEVIN BP 47 17183 PERIGNY CEDEX FRANCE
Share Capital	11,455,767 Euros
Telephone	05 46 34 30 00
Activity (APE)	Head Office Activities (7010Z)
Formation Date	10/1996
Deregistration Date	-
Court Registry Number	19 9 7B00242
Registration Court	La Rochelle (17)
Nationality	France
RCS Registration	RCS La Rochelle B 409 957 529
EUR VAT Number	FR93409957529
Last account Date	31/12/2016
Incorporiation Date	12/1996
Fax	05 46 34 32 34
Legal form	Public limited company with board of directors
Currency	Euros

Key Financials

Year to date	Turnover	Gross operating surplus	Shareholder's equity	Net result	Employees
31/12/2016	10,213,741 €	1.34% Turnover	22,571,589 €	7,844,888 €	100 employees
31/12/2015	8,811,793 €	-0.05% Turnover	19,685,843 €	4,552,375 €	88 employees
31/12/2014	9,230,252 €	-1.87% Turnover	18,092,610 €	3,427,542 €	90 employees

View details

Directors

Current Directors

7

View Details

Ultimate Holding Company

Name	Country	Company Number
COMPAGNIE BIODIVERSITE		491945895

Judgment and Preferential

Judgment	No judgement
Preferential Right	No social security and tax office preferential right to date

Establishment Details

Type of Establishment	Head Office	Production Role	-
APE/NAF Code	6420Z	Activity	Activities of holding companies
Formation Date	03/2000	Reason for Formation	Other
Closure Date	-	Reason for Closure	-
Reactivation Date	-	Seasonality	-
Activity Nature	Services	Activity Location	Office
Trading Address	AVENUE PAUL LANGEVIN 17180 PERIGNY	Department	Charente-Maritime (17)
Location Surface	-	District	3
City	PERIGNY	Status	Economically active
Business Pages FT®	DIETETIQUE: PRODUITS BIOLOGIQUES, NATURELS ET DE REGIME (DETAIL)	Region	-
		Area	01
		Size of Urban Area	Urban unit with 100 000 to 199 999 inhabitants

Ultimate Parent(s)

1 ultimate parent company/companies for this company

Company Name	Activity (APE)	APE/NAF Code	City	Post Code
COMPAGNIE BIODIVERSITE	Activities of holding companies	6420Z	PERIGNY	17180

Other Establishment(s)

Regionality	Legal unit with multiple establishments in many areas having at least 80% of workforce in same area
Mono-activity status	Legal unit having all establishments with the same main activity
Branches	2 branch entities in this company

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
GROUPE LEA NATURE	Head Office	7010Z	Head Office Activities	PERIGNY	17180
GROUPE LEA NATURE	Branch	7010Z	Head Office Activities	PARIS 15	75015

Workforces

Workforce at address	100 to 199 employees	Company workforce	100 to 199 employees
		Workforce account	100 to 199 employees
		31/12/2016

Commentary

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

The total assets are 40,065,489 €

The shareholder's equity is 22,571,589 €

The ratio total assets to total liabilities is 2.29

The pre-tax profit is 8,178,216 €

The creditor days are 35.49

The company has 8 directors

The decrease in the gearing percentage over the last two accounting periods is 16 %

The stock to turnover ratio is 0

The risk provisions are 0 €

The net current assets are 11,545,177 €

The liabilities are 17,493,900 €

The return on total assets employed is 20.41

The net turnover is below the average of its class

High risk workforce size

The decrease of tangible fixed assets over the last two accounting periods is 69 %

The sales to current assets ratio is 0.88

Industry comparison

Activity (APE)

Head Office Activities (7010Z)

Collective procedures

No judgment information for the company

Preferential rights details and history

Summary of preferential rights

Company monitored since	06/11/2013
Status of Monitoring	No social security and tax office preferential right to date

Preferential rights details and history

Summary of preferential rights

Company monitored since	06/11/2013
Status of Monitoring	No social security and tax office preferential right to date

Group Data

Ultimate parent company	COMPAGNIE BIODIVERSITE
Direct parent	COMPAGNIE BIODIVERSITE - 99.75 %
Group – Number of companies	22
Linkages – Number of companies	-
Number of countries	-

Group Structure

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When the company name is displayed as a link, you will be redirected to the company search if the country is in Creditnet area or in offline requests

Rating Information

	Name	SIREN	Parts	Last account published
1	COMPAGNIE BIODIVERSITE	491945895	-	31/12/2016
2	EKIBIO HOLDING	422701805	70 %	31/12/2016
3	EKIBIO	345052286	100 %	31/12/2016
	EUROPRIM	378859516	98 %	-
	JATARIY SARL	-	99.30 %	-
	BIOCAMARGUE SAS	520060815	60 %	30/09/2016
	TERRETHIC	524617057	60 %	31/12/2012
2	GROUPE LEA NATURE	409957529	99.75 %	31/12/2016
3	SOLIDARITE INTERNAT DEVELOP INVEST	328090238	0.09 %	31/12/2016
	LEA INTERNATIONAL	423235837	95.24 %	31/12/2016
3	NATURENVIE	421531252	95.26 %	31/12/2016
4	BIOVIVER CONSERVERIE	349891192	100 %	31/12/2016
	SARL MULTI LOG	485236202	100 %	31/12/2016
4	BIOLEA	523910834	30 %	31/12/2016
5	VITAMONT	328678057	99.90 %	31/12/2016
	BPC KAMBIO	499234334	66.66 %	31/12/2016
	ALTERNATURE	498923226	98.55 %	31/12/2016
3	LABORATOIRES LEA	415119239	95.25 %	31/12/2016
4	LABORATOIRES NATESCIENCE	499448520	100 %	31/12/2016
	DISTRINAT	393314042	100 %	31/12/2016
	LA BOUTIQUE LEA NATURE	499469534	99.76 %	31/12/2016
3	BIOLEA	523910834	70 %	31/12/2016
4	VITAMONT	328678057	99.90 %	31/12/2016
	BPC KAMBIO	499234334	66.66 %	31/12/2016
	SILO BIO OUEST	518944913	8 %	30/06/2017
	MANGEONS BIO ENSEMBLE	532209970	10.81 %	31/12/2016
	GREEN IN BLUE - LE COMPTOIR DE LA BEAUTE BIO ET NATURELLE	514002245	95.10 %	31/12/2013
	SOCIETE NOUVELLE DE LA FERME DE SAINTE MARTHE	532171766	33.30 %	31/12/2016

Linkages

No Linkages information available for the company.

Director(s)

Name	M. KLOBOUKOFF CHARLES
Manager position	Managing director, President	Date of birth	12/08/1963
Place of birth	TOULOUSE 31
Type	Individual	Name at birth
				View Details
Name	Mme. KLOBOUKOFF CATHERINE MARIE ULLÀ
Manager position	Administrator	Date of birth	31/12/1962
Place of birth	LENS
Type	Individual	Name at birth	BONNAVAUD
				View Details

Name	M. DUEZ BERNARD RAYMOND VICTOR
Manager position	Administrator	Date of birth	18/02/1939
Place of birth	MOUVAUX
Type	Individual	Name at birth

Statutory Auditor

Name	ERNST ET YOUNG ET AUTRES SAS
Name of representative
Manager position	Statutory auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth
Name	AUDITEX SAS
Name of representative
Manager position	Deputy auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Name	M. BRETHOMEAU HERVE
Manager position	Deputy auditor	Date of birth	-
Place of birth
Type	Individual	Name at birth
				View Details
Name	RENAUDEAU-RENOU & ASSOCIES
Name of representative
Manager position	Statutory auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Previous Directors

View the directors history for this company
If you want to view the directors history, please click on the link view details.

Manager position	Title and name	Date of Birth/Place of Birth
President	M. KLOBOUKOFF CHARLES	12/08/1963 - TOULOUSE 31	View Details
Managing director	M. KLOBOUKOFF CHARLES	12/08/1963 - TOULOUSE 31	View Details
Administrator	M. DUEZ BERNARD	-	View Details
Administrator	M. DUEZ BERNARD RAYMOND VICTOR	18/02/1939 - MOUVAUX	View Details
Administrator	Mme. KLOBOUKOFF CATHERINE MARIE ULLÀ	31/12/1962 - LENS	View Details

Status history

No Status History

Recent publications in Gazettes

	Publication date	Gazette Name	Description
Hide	08/08/2017	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 3757 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : 23 avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2016.
Hide	16/08/2016	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 1820 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : 23 avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2015.
Hide	11/08/2015	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 4648 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : 23 avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2014.
Hide	10/03/2015	Bodacc B	Modification et mutation diverse
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 631 - 409 957 529 RCS La Rochelle. GROUPE LEA NATURE. Forme : Société anonyme. Activité : Holding gestion d'entreprises aide aux entreprises dans la conduite de leurs affaires. Accueil du public, promotion du bio et de la restauration Bio, financement et construction de locaux sportifs culturels et pédagogiques et toutes prestations de tous services informatiques comptables commerciaux administratifs financiers et de gestion et de licence de marques et brevets. Communication par tous moyens et tous supports. Commentaires : Modification survenue sur l'activité.
Hide	29/07/2014	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 2700 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : 23 avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
Hide	21/08/2013	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 3530 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : 23 avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
Hide	28/08/2012	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 895 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : 23 avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
Hide	10/08/2012	Bodacc B	Modification et mutation diverse
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 582 - 409 957 529 RCS La Rochelle. GROUPE LEA NATURE. Forme : Société anonyme. Administration : Président directeur général : KLOBOUKOFF Charles Administrateur : DUEZ Bernard, Raymond, Victor Administrateur : KLOBOUKOFF Catherine, Marie, Ullà né(e) BONNAVAUD Commissaire aux comptes titulaire : ERNST ET YOUNG ET AUTRES SAS (SAS) Commissaire aux comptes titulaire : RENAUDEAU-RENOU & ASSOCIES (SAS) Commissaire aux comptes suppléant : AUDITEX SAS (SAS) Commissaire aux comptes suppléant : BRETHOMEAU Herve. Capital : 11455767 EUR. Activité : . Commentaires : Modification survenue sur le capital, l'administration.
Hide	27/07/2012	JAL	Modification of the share capital
Courrier Français/Edition de la Charente Maritime Date de décision : 23/04/2012 La société : 409957529 - GROUPE LEA NATURE, PHARMACONCEPT COMMUNICATION DEVELOP, AV PAUL LANGEVIN, BP 47, 17180 PERIGNY a subi une augmentation de son capital social désormais de 11 455 767 € Date d'effet : 23/04/2012
Hide	27/07/2012	JAL	Resignation / Revocation of the social representative
Courrier Français/Edition de la Charente Maritime Date de décision : 23/04/2012 La société 409957529 - GROUPE LEA NATURE, PHARMACONCEPT COMMUNICATION DEVELOP, AV PAUL LANGEVIN, BP 47, 17180 PERIGNY Fait l'objet du départ de Monsieur Didier PERREOL
Hide	14/10/2011	Bodacc B	Modification et mutation diverse
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 245 - 409 957 529 RCS La Rochelle. GROUPE LEA NATURE. Forme : Société anonyme. Administration : Président directeur général : KLOBOUKOFF Charles Administrateur : DUEZ Bernard, Raymond, Victor Administrateur : KLOBOUKOFF Catherine, Marie, Ullà né(e) BONNAVAUD Administrateur : PERREOL DIDIER, JEAN, MARIE Commissaire aux comptes titulaire : ERNST ET YOUNG ET AUTRES SAS (SAS) Commissaire aux comptes titulaire : RENAUDEAU-RENOU & ASSOCIES (SAS) Commissaire aux comptes suppléant : AUDITEX SAS (SAS) Commissaire aux comptes suppléant : BRETHOMEAU Herve. Activité : . Commentaires : Modification survenue sur l'administration.
Hide	15/02/2011	Bodacc B	Modification et mutation diverse
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 451 - 409 957 529 RCS La Rochelle. GROUPE LEA NATURE. Forme : Société anonyme. Administration : Président directeur général : KLOBOUKOFF Charles Administrateur : DUEZ Bernard, Raymond, Victor Administrateur : KLOBOUKOFF Catherine, Marie, Ullà né(e) BONNAVAUD Administrateur : PERREOL DIDIER, JEAN, MARIE Commissaire aux comptes titulaire : STE KPMG représenté par BRETHOMEAU Herve Commissaire aux comptes titulaire : ERNST ET YOUNG ET AUTRES SAS (SAS) Commissaire aux comptes suppléant : GUILLET Philippe Commissaire aux comptes suppléant : AUDITEX SAS (SAS). Activité : . Commentaires : Modification survenue sur l'administration.
Hide	21/01/2011	JAL	Appointment of the social representative
Courrier Français/Edition de la Charente Maritime Société faisant l'objet d'une nomination : 409957529 - GROUPE LEA NATURE, PHARMACONCEPT COMMUNICATION DEVELOP, AV PAUL LANGEVIN, BP 47, 17180 PERIGNY Nominé : Monsieur Didier PERREOL, 331 Route du Replat, 07340 PEAUGRES En la fonction de : Administrateur Date d'effet : 14/12/2010
Hide	03/09/2010	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 1098 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
Hide	16/09/2009	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 2491 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
Hide	16/11/2008	Bodacc B	Modification et mutation diverse
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 602 - 409 957 529 RCS La Rochelle. GROUPE LEA NATURE. Forme : Société anonyme. Administration : Président directeur général : KLOBOUKOFF Charles. Administrateur : DUEZ Bernard Raymond Victor. Administrateur : KLOBOUKOFF Catherine Marie Ullà né(e) BONNAVAUD. Commissaire aux comptes titulaire : STE KPMG représenté par BRETHOMEAU Herve. Commissaire aux comptes titulaire : ERNST ET YOUNG ET AUTRES SAS (SAS). Commissaire aux comptes suppléant : GUILLET Philippe. Commissaire aux comptes suppléant : AUDITEX SAS (SAS). Commentaires : Modification survenue sur l'administration.
Hide	25/09/2008	Bodacc C	Comptes annuels et rapports
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 2262 - 409957529 RCS. GROUPE LEA NATURE. Forme : Société anonyme. Adresse : avenue Paul Langevin 17183 Périgny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
Hide	15/05/2008	Bodacc B	Modification et mutation diverse
17 - CHARENTE-MARITIME GREFFE DU TRIBUNAL DE COMMERCE DE LA ROCHELLE 414 - 409 957 529 RCS La Rochelle. GROUPE LEA NATURE. Forme : Société anonyme. Administration : Président directeur général : KLOBOUKOFF CharlesAdministrateur : DUEZ Bernard Raymond Victor. Administrateur : KLOBOUKOFF Catherine Marie Ullà né(e) BONNAVAUD. Administrateur : MARTINEAU Christian Hyacinthe Honoré. Commissaire aux comptes titulaire : STE KPMG représenté par BRETHOMEAU Herve. Commissaire aux comptes titulaire : ERNST ET YOUNG ET AUTRES SAS (SAS). Commissaire aux comptes suppléant : GUILLET Philippe. Commissaire aux comptes suppléant : AUDITEX SAS (SAS). Commentaires : Modification survenue sur l'administration.
Hide	06/11/2007	Bodacc C	Avis de dépôt des comptes
2100 - 409 957 529. RCS La Rochelle GROUPE LEA NATURE. Forme: Société anonyme. Adresse du siège social: avenue Paul Langevin 17183 Périgny. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
Hide	26/09/2007	Bodacc B	Modifications et mutations diverses
643 - RCS La Rochelle B 409 957 529. RC 97-B 242. GROUPE LEA NATURE. Forme : S.A. Nom commercial : Pharmaconcept Communication Développement. Adresse du siège social : avenue Paul-Langevin,, 17183 Commentaires : modification survenue sur l'administration. Administration : président directeur général : KLOBOUKOFF (Charles) (Nom d'usage : KLOBOUKOFF). Administrateurs : DUEZ (Bernard, Raymond, Victor) (Nom d'usage : DUEZ) BONNAVAUD (Catherine, Marie, Ulla) (Nom d'usage : KLOBOUKOFF). Commissaires aux comptes titulaires : STE K.P.M.G., représentée par BRETHOMEAU (Hervé) (Nom d'usage : BRETHOMEAU) ERNST & YOUNG ET AUTRES S.A.S. Commissaires aux comptes suppléants : GUILLET (Philippe) (Nom d'usage : GUILLET) AUDITEX S.A.S. Date d'effet : 19 juin 2007.
Hide	16/02/2007	Bodacc B	Modifications et mutations diverses
0851 - RCS La Rochelle B 409 957 529. RC 97-B 242. GROUPE LEA NATURE. Forme : S.A. Nom commercial : Pharmaconcept Communication Développement. Adresse du siège social : avenue Paul-Langevin,, 17183 Commentaires : modification survenue sur la dénomination et le nom commercial. Date d'effet : 22 décembre 2006.
Hide	02/01/2007	Bodacc B	Modifications et mutations diverses
0384 - RCS La Rochelle B 409 957 529. RC 97-B 242. PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 11 300 335 euros. Nom commercial : Groupe Léa Nature. Adresse du siège social : avenue Paul-Langevin,, 17183 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 29 septembre 2006.
Hide	15/09/2006	Bodacc C	Avis de dépôt des comptes
2026 - RCS La Rochelle B 409 957 529. RC 97-B 242. PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme: S.A. Adresse du siège social: avenue Paul Langevin,17183 Perigny. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
Hide	15/09/2006	Bodacc C	Avis de dépôt des comptes
2027 - RCS La Rochelle B 409 957 529. RC 97-B 242. PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme: S.A. Adresse du siège social: avenue Paul Langevin,17183 Perigny. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
Hide	07/12/2005	Bodacc B	Modifications et mutations diverses
344 - RCS La Rochelle B 409 957 529. RC 97-B 242. PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 11 273 003 euros. Nom commercial : Groupe Léa Vital. Adresse du siège social : avenue Paul-Langevin,, 17183 Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 29 septembre 2005.
Hide	09/09/2005	Bodacc C	Avis de dépôt des comptes
1522 - RCS La Rochelle B 409 957 529. RC 97-B 242. PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme: S.A. Adresse du siège social: avenue Paul Langevin,17183 Perigny. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
Hide	09/09/2005	Bodacc C	Avis de dépôt des comptes
1523 - RCS La Rochelle B 409 957 529. RC 97-B 242. PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme: S.A. Adresse du siège social: avenue Paul Langevin,17183 Perigny. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
Hide	02/09/2004	Bodacc B	Modifications et mutations diverses
RCS La Rochelle B 409957529 RC 97-B 242 PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 10 999 686 euros Nom commercial: Groupe Léa Vital. Adresse du siège social : avenue Paul-Langevin, 17183 Périgny. Commentaires : modification survenue sur l'administration. Administration : P.-D.G. KLOBOUKOFF (Charles) ( Nom d'usage : KLOBOUKOFF). Administrateurs : DUEZ ( Bernard, Raymond, Victor) ( Nom d'usage DUEZ) BONNAVAUD (Catherine, Marie, Ulla) ( Nom d'usage : KLOBOUKOFF). Commissaires aux comptes titulaires : ERNST & YOUNG AUDIT STE K.P.M.G, représentée par BRETHOMEAU (Hervé) ( Nom d'usage : BRETHOMEAU). Commissaires aux comptes suppléants : FOURQUET (Philippe) ( Nom d'usage : FOURQUET) GUILLET (Philippe) ( Nom d' usage : GUILLET). Date d'effet : 29 juin 2004.
Hide	26/09/2003	Bodacc B	Modifications et mutations diverses
RCS La Rochelle B 409957529 RC 97-B 242 PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 10 999 686 euros Nom commercial: Groupe Léa Vital. Adresse du siège social : avenue Paul-Langevin, 17183 Périgny. Commentaires : modification survenue sur l'administration. Administration : président du conseil d'administration et administrateur : KLOBOUKOFF (Charles) ( Nom d'usage : KLOBOUKOFF). Administrateurs : DUEZ (Bernard, Raymond, Victor) ( Nom d'usage : DUEZ) BONNAVAUD (Catherine, Marie, Ulla) ( Nom d'usage : KLOBOUKOFF). Commissaires aux comptes titulaires : ERNST & YOUNG AUDIT STE K.P.M.G., représentée par BRETHOMEAU (Hervé) ( Nom d'usage : BRETHOMEAU). Commissaires aux comptes suppléants : FOURQUET (Philippe) ( Nom d'usage : FOURQUET) GUILLET (Philippe) ( Nom d' usage : GUILLET). Date d'effet : 26 juin 2003.
Hide	27/07/2003	Bodacc B	Modifications et mutations diverses
RCS La Rochelle B 409957529 RC 97-B 242 PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 10 999 686 euros Nom commercial: Groupe Léa Vital. Adresse du siège social : avenue Paul-Langevin, 17183 Périgny. Commentaires : modification survenue sur l'administration. Administration : président du conseil d'administration et administrateur : KLOBOUKOFF (Charles) ( Nom d'usage : KLOBOUKOFF). Administrateurs : DUEZ (Bernard, Raymond, Victor) ( Nom d'usage : DUEZ) BONNAVAUD (Catherine, Marie, Ulla) ( Nom d'usage : KLOBOUKOFF). Commissaires aux comptes titulaires : MONNOT (Philippe) ( Nom d'usage : MONNOT) STE ERNST & YOUNG AUDIT. Commissaires aux comptes suppléants : PISSETTAZ (Jean-François) ( Nom d'usage PISSETTAZ) FOURQUET (Philippe) ( Nom d'usage : FOURQUET). Date d'effet : 25 juin 2002.
Hide	02/02/2003	Bodacc B	Modifications et mutations diverses
RCS La Rochelle B 409957529 RC 97-B 242 PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 10 999 686 euros Nom commercial: Groupe Léa Vital. Adresse du siège social : avenue Paul-Langevin, 17183 Périgny. Commentaires : modification survenue sur l'administration. Administration : président du conseil d'administration et administrateur : KLOBOUKOFF (Charles) ( Nom d'usage : KLOBOUKOFF). Administrateurs : PLUQUET (Claudine) ( Nom d'usage : PLUQUET) BONNAVAUD ( Catherine, Marie, Ulla) ( Nom d'usage : KLOBOUKOFF). Commissaires aux comptes titulaires : MONNOT (Philippe) ( Nom d' usage : MONNOT) STE ERNST & YOUNG AUDIT. Commissaires aux comptes suppléants : PISSETTAZ (Jean-François) ( Nom d'usage : PISSETTAZ) FOURQUET ( Philippe) ( Nom d'usage : FOURQUET). Date d'effet : 21 décembre 2001.
Hide	30/07/2000	Bodacc B	Modifications et mutations diverses
RCS La Rochelle B 409957529 RC 97-B 242 PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 10 999 686 euros. Adresse du siège social : avenue Paul-Langevin, 17183 Périgny. Commentaires : modification survenue sur le capital (augmentation et conversion en euros). Date d'effet : 23 mai 2000.
Hide	19/07/2000	Bodacc B	Modifications et mutations diverses
RCS La Rochelle B 409957529 RC 97-B 242 PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 250 000 F. Adresse du siège social : avenue Paul-Langevin, 17183 Périgny. Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal Etablissement principal: Adresse : avenue Paul-Langevin, 17183 Périgny. Date d'effet : 16 mars 2000.
Hide	07/01/1999	Bodacc B	Modifications et mutations diverses
RCS La Rochelle B 409 957 529 RC 97-B 242 PHARMACONCEPT COMMUNICATION DEVELOPPEMENT. Forme : S.A. Capital : 250 000 F (fixe). Adresse du siège social : 7 avenue Joliot-Curie, zone industrielle, 17180 Périgny. Commentaires : modification de la date de cloture de l' exercice social : ancienne : 31 décembre, nouvelle : 31 octobre. Administration : ancien administrateur : Mme LOURDIN (Sandrine) nouvel administrateur : Mme KLOBOUKOFF ( Catherine). Date d'effet : 29 mai 1998.
Hide	24/09/1997	Bodacc B	Modifications et mutations diverses
RCS La Rochelle B 409957529 A dater du: 27 juin 1997 RC 97-B 242 pharmaconcept communication developpement. Forme : S.A. Capital : 250 000 F (fixe). Adresse du siège social : 7, avenue Joliot-Curie, zone industrielle, 17180 Périgny. Commentaires : création et transfert de Paris, 58, rue de Montreuil, 75011 Paris. Administration : administrateurs : LOURDIN (Sandrine) PLUQUET (Claudine). Commissaire aux comptes titulaire : MONNOT (Philippe). Commissaire aux comptes suppléant : PISSETTAZ (Jean- François) Président et administrateur du conseil d'administration : KLOBOUKOFF (Charles) Etablissement principal: Activité : holding , gestion d'entreprises, aide aux entreprises dans la conduite de leurs affaires. Adresse : 7, avenue Joliot-Curie, zone industrielle, 17180 Périgny. Date d'effet : 1 e r juin 1997.

Company events history

Date	Description
02/03/2018	Update of participations in other companies
08/08/2017	Bodacc C : Deposit accounts notice
29/07/2017	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
02/06/2017	New participations in other companies
31/12/2016	New accounts available
04/11/2016	Disengagement in other companies
16/08/2016	Bodacc C : Deposit accounts notice
28/07/2016	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2015	New accounts available
11/08/2015	Bodacc C : Deposit accounts notice
29/07/2015	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
03/04/2015	Disengagement in other companies
10/03/2015	Bodacc B: Various editing or changing
24/02/2015	Updated articles of association
24/02/2015	Minutes of general meeting of shareholders
24/02/2015	Change to corporate purpose
24/02/2015	Amendment
31/12/2014	New accounts available
31/12/2014	Update of Company Activity
19/12/2014	Update of Company Activity
05/09/2014	Disengagement in other companies
29/07/2014	Bodacc C : Deposit accounts notice
22/07/2014	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
08/03/2014	Update of participations in other companies
07/03/2014	Disengagement in other companies
07/03/2014	New participations in other companies
31/12/2013	New accounts available
06/11/2013	Collection of preferential rights activated for this company
01/11/2013	Update of participations in other companies
01/11/2013	Disengagement of the group
01/11/2013	New subsidiarie(s) detected
01/11/2013	New ultimate parent
01/11/2013	New parent detected
22/08/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
21/08/2013	Bodacc C : Deposit accounts notice
31/12/2012	New accounts available
12/09/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
28/08/2012	Bodacc C : Deposit accounts notice
10/08/2012	Bodacc B: Various editing or changing
01/08/2012	Updated articles of association
01/08/2012	Capital increase
01/08/2012	Amendment
01/08/2012	Changes to the Board of Directors
27/07/2012	Legal Gazette: Resignation / Revocation of the social representative
23/04/2012	Legal Gazette: Modification of the share capital
31/12/2011	New accounts available
14/10/2011	Bodacc B: Various editing or changing
28/09/2011	New auditor
28/09/2011	Minutes of general meeting of shareholders
04/08/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
15/02/2011	Bodacc B: Various editing or changing
04/02/2011	New subsidiarie(s) detected
28/01/2011	Minutes of general meeting of shareholders
28/01/2011	Changes to the Board of Directors
31/12/2010	New accounts available
14/12/2010	Legal Gazette: Appointment of the social representative
15/10/2010	New shareholders detected
15/10/2010	New subsidiarie(s) detected
03/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
16/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
16/11/2008	Bodacc B: Various editing or changing
16/11/2008	New Bodacc B ads detected
27/10/2008	Changes to the Board of Directors
27/10/2008	Appointment/resignation of company officers
27/10/2008	Changes to the Board of Directors
27/10/2008	Private document
27/10/2008	Minutes of general meeting of shareholders
27/10/2008	Minutes of general meeting of shareholders
25/09/2008	Bodacc C : Deposit accounts notice
15/05/2008	New Bodacc B ads detected
15/05/2008	Bodacc B: Various editing or changing
28/04/2008	Appointment/resignation of company officers
28/04/2008	Changes to the Board of Directors
28/04/2008	Changes to the Board of Directors
28/04/2008	Minutes of general meeting of shareholders
28/04/2008	Minutes of general meeting of shareholders
28/04/2008	Private document
01/01/2008	Modification of Company Activity
01/01/2008	Update of Company Activity
31/12/2007	New accounts available
08/08/2007	Private document
08/08/2007	Appointment/resignation of company officers
08/08/2007	Minutes of general meeting of shareholders
08/08/2007	Minutes of general meeting of shareholders
08/08/2007	New auditor
08/08/2007	New auditor
25/01/2007	Minutes of general meeting of shareholders
25/01/2007	Minutes of general meeting of shareholders
25/01/2007	Updated articles of association
25/01/2007	New company name
25/01/2007	New company name
25/01/2007	Private document
25/01/2007	Updated articles of association
31/12/2006	New accounts available
06/12/2006	Capital increase
06/12/2006	Capital increase
06/12/2006	Minutes of general meeting of shareholders
06/12/2006	Private document
06/12/2006	Updated articles of association
06/12/2006	Updated articles of association
06/12/2006	Minutes of Board meeting
31/12/2005	New accounts available
03/11/2005	Updated articles of association
03/11/2005	Private document
03/11/2005	Minutes of general meeting of shareholders
03/11/2005	Minutes of Board meeting
03/11/2005	Conversion of equity to euro
03/11/2005	Capital increase
31/12/2004	New accounts available
02/08/2004	Appointment/resignation of company officers
02/08/2004	Updated articles of association
02/08/2004	Private document
02/08/2004	New chairman (CEO, CoB)
02/08/2004	Minutes of general meeting of shareholders
02/08/2004	Minutes of Board meeting
02/08/2004	Changes to the Board of Directors
02/08/2004	Amendment
31/12/2003	New accounts available
08/09/2003	Appointment/resignation of company officers
08/09/2003	New auditor
08/09/2003	Minutes of general meeting of shareholders
08/09/2003	Private document
04/07/2003	Appointment/resignation of company officers
04/07/2003	Changes to the Board of Directors
04/07/2003	Private document
04/07/2003	Minutes of general meeting of shareholders
15/01/2003	Minutes of general meeting of shareholders
15/01/2003	Appointment/resignation of company officers
15/01/2003	Private document
03/07/2000	Amendment
03/07/2000	Capital increase
03/07/2000	Conversion of equity to euro
03/07/2000	Minutes of Board meeting
03/07/2000	Minutes of general meeting of shareholders
03/07/2000	Private document
03/07/2000	Updated articles of association
03/07/2000	New closing date
30/06/2000	Private document
30/06/2000	Registered office transferred inside jurisdiction of the Commercial Court
30/06/2000	Appointment/resignation of company officers
30/06/2000	Minutes of general meeting of shareholders
30/06/2000	Updated articles of association
12/05/2000	Amendment
12/05/2000	Audit or Management Report
12/05/2000	Private document
10/11/1998	Minutes of general meeting of shareholders
10/11/1998	New closing date
10/11/1998	Private document
10/11/1998	Changes to the Board of Directors
10/11/1998	Appointment/resignation of company officers
10/11/1998	Amendment
10/11/1998	Updated articles of association
27/06/1997	Minutes of Board meeting
27/06/1997	Appointment/resignation of company officers
27/06/1997	Amendment
27/06/1997	Minutes of general meeting of shareholders
27/06/1997	Updated articles of association
27/06/1997	Registration after transfer
27/06/1997	Private document
03/12/1996	Minutes of general meeting of shareholders
03/12/1996	Minutes of Board meeting
03/12/1996	Fund deposit certificate
03/12/1996	Appointment/resignation of company officers
03/12/1996	Articles of association
03/12/1996	Company formation
03/12/1996	Private document

Establishment events history

Date	Description
26/03/2017	Update of phone numbers
03/08/2016	Update of phone numbers
30/07/2015	Update of phone numbers
21/03/2015	Update of phone numbers
31/12/2014	Modification of Head office
19/12/2014	Modification of Head office
19/12/2014	Update of Establishment Activity
14/04/2008	Update of phone numbers
01/01/2008	Update of Establishment Activity
01/01/2008	Modification of Head office Activity

FINANCIALS

Synthesized Accounts

Annual Accounts

	31/12/2016	31/12/2015	31/12/2014
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	28/07/2017	27/07/2016	28/07/2015
Activity Code	7010Z	7010Z	7010Z
Employees	100	88	90

Active account

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Capital not called	0 0 K	0%	0 0 K	0%	0 0 K	31,485.33 31.49 K	0%	0 0 K	0%
Total fixed assets	28,520,312 28,520 K	-6.2%	30,398,772 30,399 K	12.6%	26,990,339 26,990 K	67,618,174.60 67,618.17 K	-57.8%	486,653 487 K	5760.5%
Intangible assets	450,714 451 K	-34.3%	686,265 686 K	27.9%	536,447 536 K	817,578.69 817.58 K	-44.9%	0 0 K	0%
Tangible assets	1,869,289 1,869 K	-68.5%	5,939,747 5,940 K	79.5%	3,309,342 3,309 K	775,943.27 775.94 K	140.9%	0 0 K	0%
Financial assets	26,200,305 26,200 K	10.2%	23,772,758 23,773 K	2.7%	23,144,546 23,145 K	66,004,368.67 66,004.37 K	-60.3%	410,951 411 K	6275.5%
Net current assets	11,545,177 11,545 K	22.4%	9,433,929 9,434 K	-45.1%	17,188,752 17,189 K	20,614,575.10 20,614.58 K	-44.0%	142,519 143 K	8000.8%
Stocks	0 0 K	0%	0 0 K	0%	0 0 K	1,558,440.70 1,558.44 K	0%	0 0 K	0%
Advanced payments	3,512 4 K	-83.8%	21,718 22 K	231.5%	6,552 7 K	118,451.44 118.45 K	-97.0%	0 0 K	0%
Receivables	8,994,624 8,995 K	48.3%	6,064,158 6,064 K	-49.8%	12,089,724 12,090 K	10,413,747.58 10,413.75 K	-13.6%	61,140 61 K	14611.6%
Securities and cash	2,547,040 2,547 K	-23.9%	3,348,052 3,348 K	-34.3%	5,092,476 5,092 K	8,523,478.22 8,523.48 K	-70.1%	23,364 23 K	10801.8%
Prepaid expenses	- -	-	- -	-	- -	1,154.30 1.15 K	-	0 0 K	-
Accounts of regularization	0 0 K	0%	0 0 K	0%	0 0 K	492,126.88 492.13 K	0%	0 0 K	0%
Total Assets	40,065,489 40,065 K	0.6%	39,832,702 39,833 K	-9.8%	44,179,092 44,179 K	88,656,067.99 88,656.07 K	-54.8%	781,620 782 K	5026.0%

Passive Account

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Shareholders' equity	22,571,589 22,572 K	14.7%	19,685,843 19,686 K	8.8%	18,092,610 18,093 K	41,894,108.49 41,894.11 K	-46.1%	362,246 362 K	6131.0%
Share capital	11,455,767 11,456 K	0%	11,455,767 11,456 K	0%	11,455,767 11,456 K	9,254,145.56 9,254.15 K	23.8%	107,381 107 K	10568.4%
Other capital resources	0 0 K	0%	0 0 K	0%	0 0 K	471,725.64 471.73 K	0%	0 0 K	0%
Risk Provisions	0 0 K	0%	84,422 84 K	462.8%	15,000 15 K	2,113,801.44 2,113.80 K	0%	0 0 K	0%
Liabilities	17,493,900 17,494 K	-12.8%	20,062,436 20,062 K	-23.0%	26,071,481 26,071 K	43,930,019.37 43,930.02 K	-60.2%	247,926 248 K	6956.1%
Financial liabilities	10,867,396 10,867 K	-3.3%	11,242,943 11,243 K	1.1%	11,119,109 11,119 K	32,531,610.85 32,531.61 K	-66.6%	125,675 126 K	8547.2%
Advanced payments received	0 0 K	0%	0 0 K	0%	0 0 K	3,175,011.01 3,175.01 K	0%	0 0 K	0%
Trade account payables	993,063 993 K	-10.7%	1,112,321 1,112 K	12.5%	989,100 989 K	838,139.73 838.14 K	18.5%	4,064 4 K	24335.6%
Tax and social liabilities	2,265,413 2,265 K	11.8%	2,027,172 2,027 K	26.6%	1,600,834 1,601 K	802,369.75 802.37 K	182.3%	15,415 15 K	14596.2%
Other debts and fixed assets liabilities	3,349,009 3,349 K	-40.8%	5,660,980 5,661 K	-54.1%	12,343,419 12,343 K	6,889,500.58 6,889.50 K	-51.4%	1,000 1 K	334968.4%
Account regularization	19,017 19 K	0%	19,017 19 K	0%	19,017 19 K	201,718.00 201.72 K	-90.6%	0 0 K	0%
Total liabilities	40,065,489 40,065 K	0.6%	39,832,702 39,833 K	-9.8%	44,179,092 44,179 K	88,654,124.31 88,654.12 K	-54.8%	782,181 782 K	5022.3%

Results

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Sales of Goods	12,128,073 12,128 K	18.5%	10,232,143 10,232 K	-3.9%	10,652,407 10,652 K	10,443,513.88 10,443.51 K	16.1%	81,561 82 K	14769.9%
Net turnover	10,213,741 10,214 K	15.9%	8,811,793 8,812 K	-4.5%	9,230,252 9,230 K	9,453,432.73 9,453.43 K	8.0%	74,000 74 K	13702.4%
of which net export turnover	1,195 1 K	117.7%	549 1 K	-29.3%	777 1 K	378,103.71 378.10 K	-99.7%	0 0 K	0%
Operating charges	10,666,059 10,666 K	13.8%	9,375,854 9,376 K	-5.6%	9,935,912 9,936 K	10,418,176.95 10,418.18 K	2.4%	83,732 84 K	12638.3%
Operating profit/loss	1,462,014 1,462 K	70.7%	856,288 856 K	19.5%	716,494 716 K	25,568.38 25.57 K	5618.1%	-1,406 -1 K	104083.9%
Financial income	7,201,337 7,201 K	66.7%	4,318,846 4,319 K	27.3%	3,391,762 3,392 K	5,238,863.71 5,238.86 K	37.5%	15,000 15 K	47908.9%
Financial charges	175,651 176 K	-32.8%	261,219 261 K	-20.7%	329,604 330 K	2,331,518.54 2,331.52 K	-92.5%	2,825 3 K	6118.8%
Financial profit/loss	7,025,686 7,026 K	73.1%	4,057,626 4,058 K	32.5%	3,062,157 3,062 K	2,905,933.10 2,905.93 K	141.8%	3,441 3 K	204105.4%
Pretax net operating income	8,487,700 8,488 K	72.7%	4,913,915 4,914 K	30.0%	3,778,652 3,779 K	2,945,554.83 2,945.55 K	188.2%	21,136 21 K	40058.5%
Extraordinary income	6,760,870 6,761 K	19358.0%	34,746 35 K	-97.1%	1,183,304 1,183 K	1,291,038.01 1,291.04 K	423.7%	0 0 K	0%
Extraordinary charges	6,786,732 6,787 K	6223.4%	107,328 107 K	-91.4%	1,244,962 1,245 K	1,373,501.39 1,373.50 K	394.1%	17 0 K	39921852.9%
Extraordinary profit/loss	-25,862 -26 K	64.4%	-72,582 -73 K	-17.7%	-61,657 -62 K	-82,563.33 -82.56 K	68.7%	0 0 K	0%
Net result	7,844,888 7,845 K	72.3%	4,552,375 4,552 K	32.8%	3,427,542 3,428 K	3,128,801.75 3,128.80 K	150.7%	21,731 22 K	36000.0%

Accounts - Active

Normal Account

	31/12/2016	31/12/2015	31/12/2014
Months	12	12	12

Grand Total - Active Accounts (I to VI)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Grand Total (I to VI)	Net	40,065,489 40,065 K	0.6%	39,832,702 39,833 K	-9.8%	44,179,092 44,179 K
Gross	CO	43,309,894 43,310 K	-0.2%	43,414,420 43,414 K	-8.7%	47,572,742 47,573 K
Amortisation	1A	3,244,404 3,244 K	-9.4%	3,581,718 3,582 K	5.5%	3,393,650 3,394 K

Non declared distributed capital (I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Non declared distributed capital (I)	AA3	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AA	0 0 K	0%	0 0 K	0%	0 0 K

Active fixed asset (II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Active fixed asset (II)	Net	28,520,312 28,520 K	-6.2%	30,398,772 30,399 K	12.6%	26,990,339 26,990 K
Gross	BJ	31,664,717 31,665 K	-6.5%	33,880,490 33,880 K	11.9%	30,283,989 30,284 K
Amortisation	BK	3,144,404 3,144 K	-9.7%	3,481,718 3,482 K	5.7%	3,293,650 3,294 K

Intangible fixed assets

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Start-up cost	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AB	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AC	0 0 K	0%	0 0 K	0%	0 0 K
R&D expenses	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CX	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CQ	0 0 K	0%	0 0 K	0%	0 0 K
Distributorships, patents	Net	441,639 442 K	-25.4%	592,015 592 K	10.4%	536,447 536 K
Gross	AF	1,516,478 1,516 K	8.4%	1,398,701 1,399 K	7.3%	1,303,708 1,304 K
Amortisation	AG	1,074,838 1,075 K	33.2%	806,686 807 K	5.1%	767,260 767 K
Goodwill	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AH	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AI	0 0 K	0%	0 0 K	0%	0 0 K
Other intangible fixed assets	Net	9,075 9 K	-90.4%	94,250 94 K	0%	0 0 K
Gross	AJ	9,075 9 K	-90.4%	94,250 94 K	0%	0 0 K
Amortisation	AK	0 0 K	0%	0 0 K	0%	0 0 K
Pre-payments and downpayments	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AL	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AM	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Intangible asset	Net	450,714 451 K	-34.3%	686,265 686 K	27.9%	536,447 536 K

Tangible fixed assets

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Lands	Net	1,022,034 1,022 K	-51.7%	2,114,007 2,114 K	0%	2,114,007 2,114 K
Gross	AN	1,022,034 1,022 K	-51.7%	2,114,007 2,114 K	0%	2,114,007 2,114 K
Amortisation	AO	0 0 K	0%	0 0 K	0%	0 0 K
Buildings	Net	1,428 1 K	-15.8%	1,696 2 K	-13.6%	1,963 2 K
Gross	AP	5,346 5 K	0%	5,346 5 K	0%	5,346 5 K
Amortisation	AQ	3,917 4 K	7.3%	3,649 4 K	7.9%	3,382 3 K
Plant	Net	894 1 K	-19.5%	1,110 1 K	-16.2%	1,325 1 K
Gross	AR	2,155 2 K	0%	2,155 2 K	0%	2,155 2 K
Amortisation	AS	1,260 1 K	20.6%	1,045 1 K	26.1%	829 1 K
Other tangible fixed assets	Net	842,869 843 K	16.3%	724,860 725 K	-6.9%	778,809 779 K
Gross	AT	2,680,587 2,681 K	19.0%	2,251,776 2,252 K	14.6%	1,964,566 1,965 K
Amortisation	AU	1,837,717 1,838 K	20.4%	1,526,915 1,527 K	28.8%	1,185,756 1,186 K
Fixed assets in construction	Net	2,064 2 K	-99.9%	3,098,074 3,098 K	649.7%	413,238 413 K
Gross	AV	2,064 2 K	-99.9%	3,098,074 3,098 K	649.7%	413,238 413 K
Amortisation	AW	0 0 K	0%	0 0 K	0%	0 0 K
Advances and payments on account	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	AX	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	AY	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Tangible asset	Net	1,869,289 1,869 K	-68.5%	5,939,747 5,940 K	79.5%	3,309,342 3,309 K

Financial assets

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Associates at equity	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CS	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CT	0 0 K	0%	0 0 K	0%	0 0 K
Other participations	Net	24,559,072 24,559 K	10.8%	22,157,277 22,157 K	2.2%	21,676,241 21,676 K
Gross	CU	24,785,742 24,786 K	6.4%	23,300,698 23,301 K	1.3%	23,012,661 23,013 K
Amortisation	CV	226,670 227 K	-80.2%	1,143,420 1,143 K	-14.4%	1,336,420 1,336 K
Inter-company receivables	Net	1,200,000 1,200 K	0%	1,200,000 1,200 K	-0.3%	1,203,424 1,203 K
Gross	BB	1,200,000 1,200 K	0%	1,200,000 1,200 K	-0.3%	1,203,424 1,203 K
Amortisation	BC	0 0 K	0%	0 0 K	0%	0 0 K
Other investment securities	Net	156,368 156 K	0%	156,368 156 K	0%	156,368 156 K
Gross	BD	156,368 156 K	0%	156,368 156 K	0%	156,368 156 K
Amortisation	BE	0 0 K	0%	0 0 K	0%	0 0 K
Loans	Net	1,280 1 K	113.3%	600 1 K	0%	0 0 K
Gross	BF	1,280 1 K	113.3%	600 1 K	0%	0 0 K
Amortisation	BG	0 0 K	0%	0 0 K	0%	0 0 K
Other financial assets	Net	283,585 284 K	9.7%	258,513 259 K	138.2%	108,513 109 K
Gross	BH	283,585 284 K	9.7%	258,513 259 K	138.2%	108,513 109 K
Amortisation	BI	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Financial assets	Net	26,200,305 26,200 K	10.2%	23,772,758 23,773 K	2.7%	23,144,546 23,145 K

Current Assets (III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Current Assets	Net	11,545,177 11,545 K	22.4%	9,433,929 9,434 K	-45.1%	17,188,752 17,189 K
Gross	CJ	11,645,177 11,645 K	22.1%	9,533,929 9,534 K	-44.9%	17,288,752 17,289 K
Amortisation	CK	100,000 100 K	0%	100,000 100 K	0%	100,000 100 K

Stocks

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Raw materials	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BL	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BM	0 0 K	0%	0 0 K	0%	0 0 K
Work in progress (goods)	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BN	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BO	0 0 K	0%	0 0 K	0%	0 0 K
Work in progress (services)	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BP	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BQ	0 0 K	0%	0 0 K	0%	0 0 K
Semi-finished and finished products	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BR	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BS	0 0 K	0%	0 0 K	0%	0 0 K
Goods for resale	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	BT	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	BU	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Stocks	Net	0 0 K	0%	0 0 K	0%	0 0 K

Advance payments to suppliers

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Advance payments to suppliers	Net	3,512 4 K	-83.8%	21,718 22 K	231.5%	6,552 7 K
Gross	BV	3,512 4 K	-83.8%	21,718 22 K	231.5%	6,552 7 K
Amortisation	BW	0 0 K	0%	0 0 K	0%	0 0 K

Debtors

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Trade accounts receivable	Net	7,087,459 7,087 K	45.0%	4,888,254 4,888 K	33.7%	3,657,495 3,657 K
Gross	BX	7,187,459 7,187 K	44.1%	4,988,254 4,988 K	32.8%	3,757,495 3,757 K
Amortisation	BY	100,000 100 K	0%	100,000 100 K	0%	100,000 100 K
Other debtors	Net	1,682,058 1,682 K	105.9%	816,779 817 K	-90.0%	8,173,020 8,173 K
Gross	BZ	1,682,058 1,682 K	105.9%	816,779 817 K	-90.0%	8,173,020 8,173 K
Amortisation	CA	0 0 K	0%	0 0 K	0%	0 0 K
Capital subscribed and called up	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CB	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CC	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total debtors	Net	8,769,517 8,770 K	53.7%	5,705,033 5,705 K	-51.8%	11,830,515 11,831 K

Divers

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Investment securities	Net	0 0 K	0%	0 0 K	0%	0 0 K
Gross	CD	0 0 K	0%	0 0 K	0%	0 0 K
Amortisation	CE	0 0 K	0%	0 0 K	0%	0 0 K
Cash and cash equivalents	Net	2,547,040 2,547 K	-23.9%	3,348,052 3,348 K	-34.3%	5,092,476 5,092 K
Gross	CF	2,547,040 2,547 K	-23.9%	3,348,052 3,348 K	-34.3%	5,092,476 5,092 K
Amortisation	CG	0 0 K	0%	0 0 K	0%	0 0 K
Sub Total Divers	Net	2,547,040 2,547 K	-23.9%	3,348,052 3,348 K	-34.3%	5,092,476 5,092 K

Prepaid expenses

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Prepaid expenses	Net	225,107 225 K	-37.3%	359,125 359 K	38.5%	259,209 259 K
Gross	CH	225,107 225 K	-37.3%	359,125 359 K	38.5%	259,209 259 K
Amortisation	CI	0 0 K	0%	0 0 K	0%	0 0 K

Equalization accounts (IV to VI)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Expenses of loan issue to be spread	CW3	0 0 K	0%	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K	0%	0 0 K
Premiums on redemption of bonds	CM3	0 0 K	0%	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K	0%	0 0 K
Currency differential gain	CN3	0 0 K	0%	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K	0%	0 0 K

References

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Due within one year	CP	1,280 1 K	113.3%	600 1 K	0%	0 0 K
Due after one year	CR	0 0 K	0%	0 0 K	0%	0 0 K

Accounts - Passive

Grand Total - Passive Accounts (I to V)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Grand Total (I to V)	EE	40,065,489 40,065 K	0.6%	39,832,702 39,833 K	-9.8%	44,179,092 44,179 K

Shareholder Equity (I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total shareholders' equity (Total I)	DL	22,571,589 22,572 K	14.7%	19,685,843 19,686 K	8.8%	18,092,610 18,093 K
Equity and shareholders' equity	DA	11,455,767 11,456 K	0%	11,455,767 11,456 K	0%	11,455,767 11,456 K
Issue and merger premiums	DB	1,167,835 1,168 K	0%	1,167,835 1,168 K	0%	1,167,835 1,168 K
Revaluation differentials	DC	0 0 K	0%	0 0 K	0%	0 0 K
Of which equity differential	EK	0 0 K	0%	0 0 K	0%	0 0 K
Legal reserve	DD	1,145,576 1,146 K	0%	1,145,576 1,146 K	5.2%	1,088,545 1,089 K
Statutory or contractual reserve	DE	0 0 K	0%	0 0 K	0%	0 0 K
Special regulated reserves	DF	6,210 6 K	0%	6,210 6 K	0%	6,210 6 K
Of which special reserve of provisions for current fluctuation	B1	0 0 K	0%	0 0 K	0%	0 0 K
Other reserves	DG	701,225 701 K	-39.0%	1,148,850 1,149 K	47.6%	778,339 778 K
Of which reserve for buying originals works from alive artists	EJ	0 0 K	0%	0 0 K	0%	0 0 K
Profits or losses brought forward	DH	0 0 K	0%	0 0 K	0%	0 0 K
Profit or loss for the period	DI	7,844,888 7,845 K	72.3%	4,552,375 4,552 K	32.8%	3,427,542 3,428 K
Investment grants	DJ	0 0 K	0%	0 0 K	0%	0 0 K
Special tax-allowable reserves	DK	250,085 250 K	19.5%	209,228 209 K	24.3%	168,370 168 K

Other capital resources (II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total other capital resources (Total II)	DO	0 0 K	0%	0 0 K	0%	0 0 K
Income from participating securities	DM	0 0 K	0%	0 0 K	0%	0 0 K
Conditional loans	DN	0 0 K	0%	0 0 K	0%	0 0 K

Provisions for risks and charges (III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total provisions for risks and charges (Total III)	DR	0 0 K	0%	84,422 84 K	462.8%	15,000 15 K
Risk provisions	DP	0 0 K	0%	84,422 84 K	462.8%	15,000 15 K
Reserves for charges	DQ	0 0 K	0%	0 0 K	0%	0 0 K

Liabilities (IV)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Liabilities (Total IV)	EC	17,493,900 17,494 K	-12.8%	20,062,436 20,062 K	-23.0%	26,071,481 26,071 K
Convertible debentures	DS	0 0 K	0%	0 0 K	0%	0 0 K
Other debentures	DT	0 0 K	0%	0 0 K	0%	0 0 K
Bank loans and liabilities	DU	10,867,396 10,867 K	-3.3%	11,242,943 11,243 K	2.1%	11,009,109 11,009 K
Sundry loans and financial liabilities	DV	0 0 K	0%	0 0 K	0%	110,000 110 K
Of which participating loans	EI	0 0 K	0%	0 0 K	0%	0 0 K
Advance payments received for current orders	DW	0 0 K	0%	0 0 K	0%	0 0 K
Trade accounts payables	DX	993,063 993 K	-10.7%	1,112,321 1,112 K	12.5%	989,100 989 K
Tax and social security liabilities	DY	2,265,413 2,265 K	11.8%	2,027,172 2,027 K	26.6%	1,600,834 1,601 K
Fixed asset liabilities	DZ	48,267 48 K	-82.5%	275,658 276 K	8.6%	253,893 254 K
Other debts	EA	3,300,742 3,301 K	-38.7%	5,385,322 5,385 K	-55.5%	12,089,526 12,090 K

Translation loss (V)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Translation loss (Total V)	ED	0 0 K	0%	0 0 K	0%	0 0 K

Equalization accounts

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Deferred income	EB	19,017 19 K	0%	19,017 19 K	0%	19,017 19 K

References

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Of which tax-allowable reserve	EF	0 0 K	0%	0 0 K	0%	0 0 K
Deferred income and liabilities	EG	8,953,611 8,954 K	-16.6%	10,740,111 10,740 K	-40.6%	18,092,902 18,093 K
Of which current bank facilities	EH	19,018 19 K	-60.0%	47,602 48 K	-10.1%	52,973 53 K

Result account

1 - Operating result (I-II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Operating result (Total I-II)	GG	1,462,014 1,462 K	70.7%	856,288 856 K	19.5%	716,494 716 K

2 - Financial result (V-VI)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Financial result (Total V-VI)	GV	7,025,686 7,026 K	73.1%	4,057,626 4,058 K	32.5%	3,062,157 3,062 K

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

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	8,487,700 8,488 K	72.7%	4,913,915 4,914 K	30.0%	3,778,652 3,779 K

4 - Extraordinary result (VII-VIII)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Extraordinary result (Total VII-VIII)	HI	-25,862 -26 K	64.4%	-72,582 -73 K	-17.7%	-61,657 -62 K

Profit or loss

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Profit or loss	HN	7,844,888 7,845 K	72.3%	4,552,375 4,552 K	32.8%	3,427,542 3,428 K

Total Income (I+III+V+VII)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Income (Total I+III+V+VII)	HL	26,090,281 26,090 K	78.9%	14,585,736 14,586 K	-4.2%	15,227,474 15,227 K

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

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total Charges (Total II+IV+VI+VIII+IX+X)	HM	18,245,392 18,245 K	81.8%	10,033,361 10,033 K	-15.0%	11,799,931 11,800 K

Operating income (I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total operating income (Total I)	FR	12,128,073 12,128 K	18.5%	10,232,143 10,232 K	-3.9%	10,652,407 10,652 K

Operating income (details)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Sale of goods for resale	FC	0 0 K	0%	0 0 K	0%	0 0 K
France	FA	0 0 K	0%	0 0 K	0%	0 0 K
Export	FB	0 0 K	0%	0 0 K	0%	0 0 K
Sale of goods produced	FF	0 0 K	0%	0 0 K	0%	0 0 K
France	FD	0 0 K	0%	0 0 K	0%	0 0 K
Export	FE	0 0 K	0%	0 0 K	0%	0 0 K
Sale of services	FI	10,213,741 10,214 K	15.9%	8,811,793 8,812 K	-4.5%	9,230,252 9,230 K
France	FG	10,212,546 10,213 K	15.9%	8,811,244 8,811 K	-4.5%	9,229,475 9,229 K
Export	FH	1,195 1 K	117.7%	549 1 K	-29.3%	777 1 K
Net turnover	FL	10,213,741 10,214 K	15.9%	8,811,793 8,812 K	-4.5%	9,230,252 9,230 K
France	FJ	10,212,546 10,213 K	15.9%	8,811,244 8,811 K	-4.5%	9,229,475 9,229 K
Export	FK	1,195 1 K	117.7%	549 1 K	-29.3%	777 1 K
Stocked production	FM	0 0 K	0%	0 0 K	0%	0 0 K
Self-constructed assets	FN	0 0 K	0%	0 0 K	0%	0 0 K
Operating grants	FO	0 0 K	0%	0 0 K	0%	6,300 6 K
Release of reserves and provisions	FP	868,119 868 K	50.1%	578,218 578 K	-15.9%	687,898 688 K
Other income	FQ	1,046,213 1,046 K	24.2%	842,131 842 K	15.7%	727,955 728 K

Operating charges (II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total operating charges (Total II)	GF	10,666,059 10,666 K	13.8%	9,375,854 9,376 K	-5.6%	9,935,912 9,936 K

Exploitation charges

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Purchase of goods for resale	FS	0 0 K	0%	0 0 K	0%	0 0 K
Change in stocks of goods for resale	FT	0 0 K	0%	0 0 K	0%	0 0 K
Purchase of raw materials	FU	0 0 K	0%	0 0 K	0%	0 0 K
Change in stocks of raw materials	FV	0 0 K	0%	0 0 K	0%	0 0 K
Other external purchases and charges	FW	4,678,033 4,678 K	11.6%	4,191,695 4,192 K	1.8%	4,117,005 4,117 K
Tax, duty and similar payments	FX	327,679 328 K	26.8%	258,500 259 K	-17.5%	313,497 313 K
Payroll	FY	3,223,602 3,224 K	13.2%	2,847,867 2,848 K	-12.7%	3,260,453 3,260 K
Social security costs	FZ	1,847,707 1,848 K	21.7%	1,518,404 1,518 K	-11.6%	1,718,433 1,718 K

Depreciation

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Depreciation of fixed assets	GA	527,342 527 K	17.6%	448,427 448 K	15.0%	389,968 390 K
Amortisation of fixed assets	GB	0 0 K	0%	0 0 K	0%	0 0 K
Depreciation/amortisation of current assets	GC	0 0 K	0%	0 0 K	0%	100,000 100 K
Provisions for risks and charges	GD	0 0 K	0%	79,422 79 K	1488.4%	5,000 5 K

Other charges

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Other charges	GE	61,693 62 K	95.6%	31,538 32 K	-0.1%	31,555 32 K

Operating charges (III-IV)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Share of joint-venture transferred to other partner(s) (Total III)	GH	0 0 K	0%	0 0 K	0%	0 0 K
Share of joint venture transferred from other partner(s) (Total IV)	GI	0 0 K	0%	0 0 K	0%	0 0 K

Financial income (V)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total financial income (Total V)	GP	7,201,337 7,201 K	66.7%	4,318,846 4,319 K	27.3%	3,391,762 3,392 K
Share financial income	GJ	6,222,583 6,223 K	54.7%	4,022,300 4,022 K	32.4%	3,038,349 3,038 K
Other investment income & capitalised receivables	GK	0 0 K	0%	0 0 K	0%	0 0 K
Other interest and similar income	GL	60,729 61 K	-16.0%	72,301 72 K	-35.9%	112,768 113 K
Released provisions and transferred charges	GM	916,750 917 K	308.9%	224,193 224 K	-6.8%	240,645 241 K
Exchange gains	GN	1,273 1 K	2446.0%	50 0 K	0%	0 0 K
Net income from disposal of investment securities	GO	0 0 K	0%	0 0 K	0%	0 0 K

Financial charge (VI)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total financial charge (Total VI)	GU	175,651 176 K	-32.8%	261,219 261 K	-20.7%	329,604 330 K
Financial reserves and provisions	GQ	0 0 K	0%	0 0 K	0%	0 0 K
Interest and similar charges	GR	175,651 176 K	-32.7%	260,825 261 K	-20.9%	329,604 330 K
Exchange losses	GS	0 0 K	0%	394 0 K	0%	0 0 K
Net loss from disposal of investment securities	GT	0 0 K	0%	0 0 K	0%	0 0 K

Extraordinary income (VII)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total extraordinary income (Total VII)	HD	6,760,870 6,761 K	19358.0%	34,746 35 K	-97.1%	1,183,304 1,183 K
Extraordinary operating income	HA	5,000 5 K	0%	0 0 K	0%	20,688 21 K
Extraordinary income from capital transactions	HB	6,755,870 6,756 K	19343.6%	34,746 35 K	6.5%	32,615 33 K
Released provisions and transferred charges	HC	0 0 K	0%	0 0 K	0%	1,130,000 1,130 K

Extraordinary charges (VIII)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total extraordinary charges (Total VIII)	HH	6,786,732 6,787 K	6223.4%	107,328 107 K	-91.4%	1,244,962 1,245 K
Extraordinary operating charges	HE	36,232 36 K	15.0%	31,507 32 K	50.7%	20,913 21 K
Extraordinary charges from capital transactions	HF	6,557,194 6,557 K	18654.7%	34,963 35 K	-97.0%	1,184,326 1,184 K
Extraordinary reserves and provisions	HG	193,306 193 K	373.1%	40,857 41 K	2.9%	39,722 40 K

Employee profit sharing (IX)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Employee profit sharing (Total IX)	HJ	283,621 284 K	135.5%	120,449 120 K	-29.2%	170,039 170 K

Tax on profits (X)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Tax on profits (Total X)	HK	333,328 333 K	97.8%	168,508 169 K	41.1%	119,412 119 K

References

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Of which equipment leases	HP	0 0 K	0%	0 0 K	0%	0 0 K
Of which property leases	HQ	0 0 K	0%	0 0 K	0%	0 0 K
Of which transferred charges	A1	783,697 784 K	37.9%	568,218 568 K	-17.4%	687,898 688 K
Of which trader's own contributions	A2	0 0 K	0%	0 0 K	0%	0 0 K
Of which royalties on licences and patents (income)	A3	1,045,521 1,046 K	24.7%	838,607 839 K	15.2%	727,868 728 K
Of which royalties on licences and patents (charges)	A4	0 0 K	0%	0 0 K	0%	0 0 K

Other incomes tax return forms

Fixed Assets

Grand Total Fixed Assets (I to IV)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	OG	0 0 K	0%	0 0 K	0%	0 0 K
Increasess due to revaluation	OH	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess, acquisitions, creations, contributions	OJ	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	OK1	94,250 94 K	0%	0 0 K	0%	13,015 13 K
Decreasess by transfers	OK2	6,658,468 6,658 K	6196.6%	105,747 106 K	-99.1%	11,361,200 11,361 K
Gross value at the end of period	OL	31,664,717 31,665 K	-6.5%	33,880,490 33,880 K	11.9%	30,283,989 30,284 K

Research and development Charge (Total I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	CZ	0 0 K	0%	0 0 K	0%	0 0 K
Increasess due to revaluation	KB	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	KC	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	CO1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	CO2	0 0 K	0%	0 0 K	0%	0 0 K
Gross value at the end of period	DO	0 0 K	0%	0 0 K	0%	0 0 K

Other budget item from Intangible fixed assets (Total II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	KD	1,492,951 1,493 K	14.5%	1,303,708 1,304 K	8.0%	1,207,370 1,207 K
Increasess due to revaluation	KE	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	KF	170,274 170 K	-35.6%	264,448 264 K	141.8%	109,354 109 K
Decreasess by budget item transfer	LV1	94,250 94 K	0%	0 0 K	0%	13,015 13 K
Decreasess by transfers	LV2	43,423 43 K	-42.3%	75,205 75 K	0%	0 0 K
Gross value at the end of period	LW	1,525,553 1,526 K	2.2%	1,492,951 1,493 K	14.5%	1,303,708 1,304 K

Tangible fixed assets (Total III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	LN	7,471,359 7,471 K	66.1%	4,499,313 4,499 K	7.4%	4,187,782 4,188 K
Increasess due to revaluation	LO	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	LP	2,854,493 2,854 K	-4.8%	2,999,164 2,999 K	574.9%	444,376 444 K
Decreasess by budget item transfer	NG1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	NG2	6,613,665 6,614 K	24288.5%	27,118 27 K	-79.6%	132,845 133 K
Gross value at the end of period	NH	3,712,187 3,712 K	-50.3%	7,471,359 7,471 K	66.1%	4,499,313 4,499 K

Financial assets (Total IV)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	LQ	24,916,179 24,916 K	1.8%	24,480,967 24,481 K	56.1%	15,685,743 15,686 K
Increasess due to revaluation	LR	0 0 K	0%	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	LS	1,512,176 1,512 K	244.7%	438,636 439 K	-97.8%	20,023,579 20,024 K
Decreasess by budget item transfer	NJ1	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by transfers	NJ2	1,380 1 K	-59.7%	3,424 3 K	-100.0%	11,228,355 11,228 K
Gross value at the end of period	NK	26,426,975 26,427 K	6.1%	24,916,179 24,916 K	1.8%	24,480,967 24,481 K

Reserve for depreciation

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

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Reserve for depreciation value at begin of period	ON	0 0 K	0%	0 0 K	0%	0 0 K
Increases	OP	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess	OQ	0 0 K	0%	0 0 K	0%	0 0 K
Reserve for depreciation value at the end of period	OR	0 0 K	0%	0 0 K	0%	0 0 K

Research and development charge (Total I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Reserve for depreciation value at begin of period	CY	0 0 K	0%	0 0 K	0%	0 0 K
Increases	PB	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess	PC	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	PD	0 0 K	0%	0 0 K	0%	0 0 K

Other intangible assets (Total II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Reserve for depreciation value at begin of period	PE	707,594 708 K	5.9%	668,168 668 K	14.6%	582,840 583 K
Increases	PF	158,369 158 K	60.2%	98,850 99 K	15.8%	85,328 85 K
Decreasess	PG	42,666 43 K	-28.2%	59,424 59 K	0%	0 0 K
Decreasess by budget item transfer	PH	823,297 823 K	16.4%	707,594 708 K	5.9%	668,168 668 K

Total fixed assets amotisation (Total III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Reserve for depreciation value at begin of period	QU	1,531,610 1,532 K	28.7%	1,189,968 1,190 K	19.6%	995,240 995 K
Increases	QV	368,973 369 K	5.5%	349,576 350 K	14.8%	304,639 305 K
Decreases	QW	57,687 58 K	627.1%	7,934 8 K	-92.8%	109,910 110 K
Decreasess by budget item transfer	QX	1,842,896 1,843 K	20.3%	1,531,610 1,532 K	28.7%	1,189,968 1,190 K

Movements during period affecting charge allocated over several period

Deferred charges and debt issuance costs

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value at begin of period	Z91	0 0 K	0%	0 0 K	0%	0 0 K
Increases	Z92	0 0 K	0%	0 0 K	0%	0 0 K
Depreciation of fixed assets during period	Z9	0 0 K	0%	0 0 K	0%	0 0 K
Decreasess by budget item transfer	B1	0 0 K	0%	0 0 K	0%	0 0 K

Premium refund of obligations

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Net value at begin of period	SP1	0 0 K	0%	0 0 K	0%	0 0 K
Increases	SP2	0 0 K	0%	0 0 K	0%	0 0 K
Depreciation of fixed assets during period	SP	0 0 K	0%	0 0 K	0%	0 0 K
Net value at the end of period	SR	0 0 K	0%	0 0 K	0%	0 0 K

Provisions included in balance sheet

Grand Total (I-II-III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Value at begining of period	7C	1,636,163 1,636 K	-4.8%	1,718,883 1,719 K	-40.0%	2,865,344 2,865 K
Increases	UB	193,306 193 K	60.7%	120,279 120 K	-16.9%	144,722 145 K
Decreases	UC	1,001,172 1,001 K	393.2%	203,000 203 K	-84.3%	1,291,183 1,291 K
Value at the end of period	UD	828,297 828 K	-49.4%	1,636,163 1,636 K	-4.8%	1,718,883 1,719 K

Includes Total allocations

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Operating	UE	0 0 K	0%	79,422 79 K	-24.4%	105,000 105 K
Financial	UG	0 0 K	0%	0 0 K	0%	0 0 K
Exceptional	UJ	193,306 193 K	373.1%	40,857 41 K	2.9%	39,722 40 K

Includes Total Withdrawal

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Operating	UF	84,422 84 K	744.2%	10,000 10 K	0%	0 0 K
Financial	UH	916,750 917 K	375.0%	193,000 193 K	19.7%	161,183 161 K
Exceptional	UK	0 0 K	0%	0 0 K	0%	1,130,000 1,130 K

Total regulated provisions (Total I)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Value at begining of period	3Z	209,228 209 K	24.3%	168,370 168 K	30.9%	128,648 129 K
Increases	TS	40,857 41 K	0%	40,857 41 K	2.9%	39,722 40 K
Decreases	TT	0 0 K	0%	0 0 K	0%	0 0 K
Value at the end of period	TU	250,085 250 K	19.5%	209,228 209 K	24.3%	168,370 168 K

Total risk and charge provisions (Total II)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Value at begining of period	5Z	84,422 84 K	462.8%	15,000 15 K	50.0%	10,000 10 K
Increases	TV	0 0 K	0%	79,422 79 K	1488.4%	5,000 5 K
Decreases	TW	84,422 84 K	744.2%	10,000 10 K	0%	0 0 K
Value at the end of period	TX	0 0 K	0%	84,422 84 K	462.8%	15,000 15 K

Total Provision for depreciation (Total III)

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Value at begining of period	7B	1,342,512 1,343 K	-12.6%	1,535,512 1,536 K	-43.7%	2,726,695 2,727 K
Increases	TY	152,449 152 K	0%	0 0 K	0%	100,000 100 K
Decreases	TZ	916,750 917 K	375.0%	193,000 193 K	-85.1%	1,291,183 1,291 K
Value at the end of period	UA	578,211 578 K	-56.9%	1,342,512 1,343 K	-12.6%	1,535,512 1,536 K

State deadlines claims and debts at the end of period

State claims

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Gross value	VT	10,579,490 10,579 K	38.8%	7,623,271 7,623 K	-43.5%	13,501,661 13,502 K
1 year at most	VU	10,579,490 10,579 K	64.7%	6,423,271 6,423 K	-47.3%	12,193,148 12,193 K
More than one year	VV	0 0 K	0%	1,200,000 1,200 K	-8.3%	1,308,513 1,309 K

State of loans

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Claims related to holdings (gross)	UL	1,200,000 1,200 K	0%	1,200,000 1,200 K	-0.3%	1,203,424 1,203 K
Claims related to shareholdings (1 year at most)	UM	1,200,000 1,200 K	0%	0 0 K	0%	3,424 3 K
Loans (gross)	UP	1,280 1 K	113.3%	600 1 K	0%	0 0 K
Loans (1 year at most)	UR	1,280 1 K	113.3%	600 1 K	0%	0 0 K
Other financial assets (gross)	UT	283,585 284 K	9.7%	258,513 259 K	138.2%	108,513 109 K
Other financial assets (1 year at most)	UV	283,585 284 K	9.7%	258,513 259 K	0%	0 0 K

Receivables statement of assets

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Customers doubtful or disputed	VA	269,345 269 K	-10.7%	301,588 302 K	-13.4%	348,118 348 K
Other claims customer	UX	6,918,114 6,918 K	47.6%	4,686,665 4,687 K	37.5%	3,409,377 3,409 K
Receivables represent Loaned Securities	UU	0 0 K	0%	0 0 K	0%	0 0 K
Provision for depreciation previously established	UQ	0 0 K	0%	0 0 K	0%	0 0 K
Personnel and associated accounts	UY	5,937 6 K	-36.5%	9,347 9 K	1831.2%	484 0 K
Social Security and other social organizations	UZ	0 0 K	0%	0 0 K	0%	0 0 K
Income taxes	VM	0 0 K	0%	0 0 K	0%	0 0 K
Value added tax	VB	218,811 219 K	-19.1%	270,401 270 K	35.1%	200,199 200 K
Other taxes and payments assimilated	VN	0 0 K	0%	0 0 K	0%	0 0 K
State and other public - Miscellaneous	VP	0 0 K	0%	5,269 5 K	0%	0 0 K
Group and Associates	VC	1,238,858 1,239 K	239.5%	364,920 365 K	-95.4%	7,969,090 7,969 K
Accounts receivable (including claims relating to the operation of pension titles)	VR	218,449 218 K	30.9%	166,840 167 K	5041.4%	3,245 3 K

Prepaid

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Prepaid	VS	225,107 225 K	-37.3%	359,125 359 K	38.5%	259,209 259 K

State Debt

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Total debt (gross)	VY	17,493,900 17,494 K	-12.8%	20,062,436 20,062 K	-23.0%	26,071,481 26,071 K
1 year at most	VZ2	8,953,611 8,954 K	-16.6%	10,740,111 10,740 K	-40.6%	18,092,902 18,093 K
More than 1 year and 5 years at most	VZ3	7,974,657 7,975 K	-0.5%	8,017,458 8,017 K	30.0%	6,168,965 6,169 K
More than 5 years	VZ4	565,630 566 K	-56.7%	1,304,866 1,305 K	-27.9%	1,809,613 1,810 K

Details

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Convertible bonds (gross)	7Y1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	7Y2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	7Y3	0 0 K	0%	0 0 K	0%	0 0 K
Other bonds (gross)	7Z1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	7Z2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	7Z3	0 0 K	0%	0 0 K	0%	0 0 K
Borrowing & debts to 1 year maximum at the origin (gross)	VG1	19,018 19 K	-60.0%	47,602 48 K	-10.1%	52,973 53 K
1 year at most	VG2	19,018 19 K	-60.0%	47,602 48 K	-10.1%	52,973 53 K
More than 1 year and 5 years at most	VG3	0 0 K	0%	0 0 K	0%	0 0 K
Borrowing & debts to more than 1 year at the origin (gross)	VH1	10,848,377 10,848 K	-3.1%	11,195,341 11,195 K	2.2%	10,956,135 10,956 K
1 year at most	VH2	2,308,088 2,308 K	23.2%	1,873,016 1,873 K	-37.1%	2,977,556 2,978 K
More than 1 year and 5 years at most	VH3	7,974,657 7,975 K	-0.5%	8,017,458 8,017 K	30.0%	6,168,965 6,169 K
Loans and various financial liabilities (gross)	8A1	0 0 K	0%	0 0 K	0%	110,000 110 K
1 year at most	8A2	0 0 K	0%	0 0 K	0%	110,000 110 K
More than 1 year and 5 years at most	8A3	0 0 K	0%	0 0 K	0%	0 0 K
Suppliers and associated accounts (gross)	8B1	993,063 993 K	-10.7%	1,112,321 1,112 K	12.5%	989,100 989 K
1 year at most	8B2	993,063 993 K	-10.7%	1,112,321 1,112 K	12.5%	989,100 989 K
More than 1 year and 5 years at most	8B3	993,063 993 K	-10.7%	1,112,321 1,112 K	12.5%	989,100 989 K
Personnel and associated accounts (gross)	8C1	581,165 581 K	49.4%	388,930 389 K	-11.1%	437,630 438 K
1 year at most	8C2	581,165 581 K	49.4%	388,930 389 K	-11.1%	437,630 438 K
More than 1 year and 5 years at most	8C3	0 0 K	0%	0 0 K	0%	0 0 K
Social Security and other social organizations (gross)	8D1	551,602 552 K	4.6%	527,410 527 K	-7.9%	572,815 573 K
1 year at most	8D2	551,602 552 K	4.6%	527,410 527 K	-7.9%	572,815 573 K
More than 1 year and 5 years at most	8D3	0 0 K	0%	0 0 K	0%	0 0 K
Taxes on profits (gross)	8E1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	8E2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8E3	0 0 K	0%	0 0 K	0%	0 0 K
VAT (Gross)	VW1	1,110,222 1,110 K	44.5%	768,561 769 K	36.4%	563,652 564 K
1 year at most	VW2	1,110,222 1,110 K	44.5%	768,561 769 K	36.4%	563,652 564 K
More than 1 year and 5 years at most	VW3	0 0 K	0%	0 0 K	0%	0 0 K
Backed Obligations (gross)	VX1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	VX2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VX3	0 0 K	0%	0 0 K	0%	0 0 K
Other taxes and assimilated (gross)	VQ1	22,424 22 K	-93.4%	342,269 342 K	1180.2%	26,736 27 K
1 year at most	VQ2	22,424 22 K	-93.4%	342,269 342 K	1180.2%	26,736 27 K
More than 1 year and 5 years at most	VQ3	0 0 K	0%	0 0 K	0%	0 0 K
Assets and liabilities associated accounts (gross)	8J1	48,267 48 K	-82.5%	275,658 276 K	8.6%	253,893 254 K
1 year at most	8J2	48,267 48 K	-82.5%	275,658 276 K	8.6%	253,893 254 K
More than 1 year and 5 years at most	8J3	0 0 K	0%	0 0 K	0%	0 0 K
More than 5 years	8J4	0 0 K	0%	0 0 K	0%	0 0 K
Groups and associates (gross)	VI1	0 0 K	0%	5,385,322 5,385 K	0%	0 0 K
1 year at most	VI2	0 0 K	0%	5,385,322 5,385 K	0%	0 0 K
More than 1 year and 5 years at most	VI3	0 0 K	0%	0 0 K	0%	0 0 K
More than 5 years	V14	0 0 K	0%	0 0 K	0%	0 0 K
Other liabilities (gross)	8K1	3,300,747 3,301 K	0%	0 0 K	0%	12,089,526 12,090 K
1 year at most	8K2	3,300,747 3,301 K	0%	0 0 K	0%	12,089,526 12,090 K
More than 1 year and 5 years at most	8K3	0 0 K	0%	0 0 K	0%	0 0 K
Debt representative of borrowed securities (gross)	SZ1	0 0 K	0%	0 0 K	0%	0 0 K
1 year at most	SZ2	0 0 K	0%	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	SZ3	0 0 K	0%	0 0 K	0%	0 0 K
Products in advance (gross)	8L1	19,017 19 K	0%	19,017 19 K	0%	19,017 19 K
1 year at most	8L2	19,017 19 K	0%	19,017 19 K	0%	19,017 19 K
More than 1 year and 5 years at most	8L3	0 0 K	0%	0 0 K	0%	0 0 K

References

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Loans made during the period	VJ	1,530,000 1,530 K	0%	0 0 K	0%	10,277,476 10,277 K
Debt repaid during the period	VK	1,873,555 1,874 K	-36.0%	2,927,286 2,927 K	57.8%	1,854,561 1,855 K

Table allocation results and other information

Dividends distributed

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Dividends	ZE	0 0 K	0%	0 0 K	0%	0 0 K

Commitments

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Commitments leasing furniture	YQ	0 0 K	0%	0 0 K	0%	0 0 K
Commitments Real Estate Leasing	YR	0 0 K	0%	0 0 K	0%	0 0 K
Effects brought to the discount and unmatured	YS	0 0 K	0%	0 0 K	0%	0 0 K

Other charges Externes

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Subcontracting	YT	0 0 K	0%	0 0 K	0%	0 0 K
Rentals, rental charges and condominiums	XQ	0 0 K	0%	0 0 K	0%	0 0 K
Staff outside the company	YU	0 0 K	0%	0 0 K	0%	0 0 K
Remuneration intermediaries and fees (excluding fees)	SS	0 0 K	0%	0 0 K	0%	0 0 K
Fees, commissions and brokerage	YV	0 0 K	0%	0 0 K	0%	0 0 K
Other accounts	ST	0 0 K	0%	0 0 K	0%	0 0 K
Total Other purchases and external	ZJ	0 0 K	0%	0 0 K	0%	0 0 K

Taxes and Fees

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Business tax	YW	0 0 K	0%	0 0 K	0%	0 0 K
Other taxes and payments assimilated	9Z	0 0 K	0%	0 0 K	0%	0 0 K
Total taxes and fees	YX	0 0 K	0%	0 0 K	0%	0 0 K

VAT

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Amount VAT collected	YY	0 0 K	0%	0 0 K	0%	0 0 K
Total VAT on goods and services	YZ	0 0 K	0%	0 0 K	0%	0 0 K

Average number of employees

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Average number of employees	YP	100 0 K	13.6%	88 0 K	-2.2%	90 0 K

Groups and Shareholders

		31/12/2016	Variation	31/12/2015	Variation	31/12/2014
Groups and Shareholders	ZR	0 0 K	-	- -	-	- -

Ratios

Synthetic financial performance indicators

31/12/2016

31/12/2015

31/12/2014

Score

Situation

Score

Situation

Score

Situation

Hide AFDCC 2

-8.37

Fragility ++

-9.77

Fragility ++

-9.71

Fragility ++

Description

The AFDCC 2 score uses sectors of activity and company sizes for companies with a turnover of 150 000 to 75 million euros. This calculation allows a classification of the companies in three levels:
-	Healthy: the higher the score value is, the more the company is healthy.
-	Undetermined: it’s impossible to determine the situation.
-	Fragility/Failure: the lower the score value is, the more the company is in danger.
The status are completed which “+/-“ signs.

Hide Conan & Holder

0.09

40%

0.07

50%

0.04

60%

Description

The Conan and Holder (1979) is a recommended method for industrial companies with a turnover of 150 000 to 75 million euros. It is based only on a balance sheet. This calculation allows a classification of the most perilous situation (Score lower than 0.002) to the healthiest situation (score greater than 0.16):
-	Healthy situation: companies which maintain or develop their activity level.
-	Situation to monitor: companies which has to follow remedial measures or find a new strategy.
-	Perilous situation: companies which could have important cash difficulties and have a failure risk.

Hide Altman

-

-

-

-

-

-

Description

The Altman score is a method based only on a complete balance sheet, this calculation allows a classification of the companies in three levels:
-	Good shape: companies which have a low risk (with a score value higher than 2.99).
-	Warning signs: companies which should be approached with caution and with a high risk in the next two years for bankruptcy (with a score value between 2.99 and 1.81).
-	Bankruptcy: companies which are in immediate risk (with a score value lower than 1.81).

Structure and Liquidity

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Fixed Asset Financing	1.15	12.7%	1.02	-4.7%	1.07	421.32	-99.7%	1.11	3.6%
Global Debt	617 days	-24.8%	820 days	-19.4%	1,017 days	92,601.93 days	-99.3%	620 days	-0.5%
Working Capital Fund overall net	173 days	652.2%	23 days	-72.9%	85 days	30,293.74 days	-99.4%	211 days	-18.0%
Financial independence	207.70 %	18.6%	175.10 %	7.6%	162.72 %	259,334.51 %	-99.9%	164.64 %	26.2%
Solvability	56.34 %	14.0%	49.42 %	20.7%	40.95 %	-308.00 %	118.3%	56.89 %	-1.0%
Capacity debt futures	969.94 %	-5.4%	1,024.97 %	71.7%	597.01 %	1,284,299.83 %	-99.9%	1,304.90 %	-25.7%
Coverage of current assets by net working capital overall	42.90 %	594.2%	6.18 %	-51.8%	12.82 %	-229,721.62 %	100.0%	59.75 %	-28.2%
General Liquidity	1.18	96.7%	0.60	-10.4%	0.67	-0.82	243.9%	0.44	168.2%
Restricted Liquidity	1.47	61.5%	0.91	-5.2%	0.96	2.69	-45.4%	0.96	53.1%

Management or rotation

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Need background in operating working capital	135 days	87.5%	72 days	71.4%	42 days	-56.60 days	338.5%	-11 days	1327.3%
Treasury	89 days	-34.1%	135 days	-31.5%	197 days	9,277.15 days	-99.0%	39 days	128.2%
Inventory turnover of goods	-	-	-	-	-	-13,924.06 days	-	0 days	-
Average length of credit granted to customers	253 days	24.0%	204 days	38.8%	147 days	827.18 days	-69.4%	53 days	377.4%
Average length of credit obtained suppliers	76 days	-20.8%	96 days	11.6%	86 days	356.36 days	-78.7%	90 days	-15.6%
Inventory turnover of raw materials in industrial enterprises	-	-	-	-	-	176.26 days	-	0 days	-
Inventory turnover of intermediate and finished products in the industrial enterprise	-	-	-	-	-	5,967.12 days	-	344 days	-
Rotation tangible assets	275.14 %	133.3%	117.94 %	-42.5%	205.15 %	7,204.99 %	-96.2%	584.06 %	-52.9%

Profitability of the business

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Margin trading	0.00 %	0%	0.00 %	0%	0.00 %	2.70 %	0%	0.00 %	0%
Profitability of the business	1.34 %	2780.0%	-0.05 %	97.3%	-1.87 %	-318.22 %	100.4%	4.62 %	-71.0%
Net profit	76.81 %	48.7%	51.66 %	39.1%	37.13 %	791.53 %	-90.3%	17.49 %	339.2%
Growth rate of turnover (excluding VAT)	15.91 %	451.2%	-4.53 %	-159.1%	7.67 %	2,282.71 %	-99.3%	0.00 %	0%
Rates integration	54.20 %	3.4%	52.43 %	-5.4%	55.40 %	-148.58 %	136.5%	70.92 %	-23.6%
Rate leasing furniture	0.00 %	0%	0.00 %	0%	0.00 %	1.31 %	0%	0.00 %	0%
Work Factor	91.61 %	-3.1%	94.51 %	-2.9%	97.37 %	57.04 %	60.6%	36.39 %	151.7%
Weight interests	1.72 %	-41.9%	2.96 %	-17.1%	3.57 %	3,958.89 %	-100.0%	2.10 %	-18.1%

Return on capital

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Cash flow from the overall profitability	72.12 %	31.3%	54.91 %	36.3%	40.28 %	2,944.63 %	-97.6%	22.48 %	220.8%
Rates of economic profitability	0.00 %	0%	0.00 %	0%	-1.00 %	-67.97 %	0%	0.00 %	0%
Financial profitability	22,571,589.00 %	14.7%	19,685,843.00 %	8.8%	18,092,610.00 %	42,133,496.87 %	-46.4%	252,472.00 %	8840.2%
Return on investment	23.99 %	54.2%	15.56 %	21.0%	12.86 %	11.93 %	101.1%	5.96 %	302.5%

Management intermediate balances

31/12/2016

Variation

31/12/2015

Variation

31/12/2014

Sector Average 2016

Sector Median 2016

Turnover

10,213,741 10,214 K

15.9%

8,811,793 8,812 K

-4.5%

9,230,252 9,230 K

9,453,432.73 9,453.43 K

8.0%

74,000 74 K

13702.4%

31/12/2016

Variation

31/12/2015

Variation

31/12/2014

Sector Average 2016

Sector Median 2016

Sales of goods

0 0 K

0%

0 0 K

0%

0 0 K

-

-

- Purchase of goods

0 0 K

0%

0 0 K

0%

0 0 K

-

-

+/- Stock of goods variation

0 0 K

0%

0 0 K

0%

0 0 K

-

-

Trading margin

0 € 0 K €

0%

0 € 0 K €

0%

0 € 0 K €

-111,336.00 € -111.34 K €

0%

0 € 0 K €

0%

0.00 % CA 0.00 % CA

0%

0.00 % CA 0.00 % CA

0%

0.00 % CA 0.00 % CA

4.24 % CA 4.24 % CA

0%

0.00 % CA 0.00 % CA

0%

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Sale of goods produced	10,213,741 10,214 K	15.9%	8,811,793 8,812 K	-4.5%	9,230,252 9,230 K		-		-
+/- Stocked production	0 0 K	0%	0 0 K	0%	0 0 K		-		-
+ Self-constructed assets	0 0 K	0%	0 0 K	0%	0 0 K		-		-
Period production	10,213,741 € 10,214 K €	15.9%	8,811,793 € 8,812 K €	-4.5%	9,230,252 € 9,230 K €	8,942,782.95 € 8,942.78 K €	14.2%	60,000 € 60 K €	16922.9%
	100.00 % CA 100.00 % CA	0%	100.00 % CA 100.00 % CA	0%	100.00 % CA 100.00 % CA	110.11 % CA 110.11 % CA	-9.2%	100.00 % CA 100.00 % CA	0%

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Trading margin	0 0 K	0%	0 0 K	0%	0 0 K	-111,336.00 -111.34 K	0%	0 0 K	0%
+ Period Production	10,213,741 10,214 K	15.9%	8,811,793 8,812 K	-4.5%	9,230,252 9,230 K	8,942,782.95 8,942.78 K	14.2%	60,000 60 K	16922.9%
- Purchase of raw materials	0 0 K	0%	0 0 K	0%	0 0 K		-		-
+/- Change in stocks of raw materiels	0 0 K	0%	0 0 K	0%	0 0 K		-		-
- Other external purchases and charges	4,678,033 4,678 K	11.6%	4,191,695 4,192 K	1.8%	4,117,005 4,117 K		-		-
Added value	5,535,708 € 5,536 K €	19.8%	4,620,098 € 4,620 K €	-9.6%	5,113,247 € 5,113 K €	1,486,817.33 € 1,486.82 K €	272.3%	35,870 € 36 K €	15332.7%
	54.20 % CA 54.20 % CA	3.4%	52.43 % CA 52.43 % CA	-5.4%	55.40 % CA 55.40 % CA	-147.69 % CA -147.69 % CA	136.7%	70.82 % CA 70.82 % CA	-23.5%

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Added value	5,535,708 € 5,536 K €	19.8%	4,620,098 € 4,620 K €	-9.6%	5,113,247 € 5,113 K €	1,486,817.33 € 1,486.82 K €	272.3%	35,870 € 36 K €	15332.7%
+ Operating grants	0 0 K	0%	0 0 K	0%	6,300 6 K		-		-
- Tax, duty and similar payments	327,679 328 K	26.8%	258,500 259 K	-17.5%	313,497 313 K		-		-
- Personal charges	5,071,309 5,071 K	16.1%	4,366,271 4,366 K	-12.3%	4,978,886 4,979 K		-		-
Gross operating surplus	136,720 € 137 K €	3025.7%	-4,673 € -5 K €	97.3%	-172,836 € -173 K €	-56,810.99 € -56.81 K €	340.7%	-1,547 € -2 K €	8940.6%
	1.34 % CA 1.34 % CA	2780.0%	-0.05 % CA -0.05 % CA	97.3%	-1.87 % CA -1.87 % CA	-317.34 % CA -317.34 % CA	100.4%	4.59 % CA 4.59 % CA	-70.8%

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Gross operating surplus	136,720 € 137 K €	3025.7%	-4,673 € -5 K €	97.3%	-172,836 € -173 K €	-56,810.99 € -56.81 K €	340.7%	-1,547 € -2 K €	8940.6%
+ Release of reserves and provisions	868,119 868 K	50.1%	578,218 578 K	-15.9%	687,898 688 K		-		-
+ Other operating income	1,046,213 1,046 K	24.2%	842,131 842 K	15.7%	727,955 728 K		-		-
- Depreciation/ Amortisation	527,342 527 K	-0.1%	527,849 528 K	6.6%	494,968 495 K		-		-
- Other charges	61,693 62 K	95.6%	31,538 32 K	-0.1%	31,555 32 K		-		-
Operating result	1,462,017 € 1,462 K €	70.7%	856,289 € 856 K €	19.5%	716,494 € 716 K €	29,442.21 € 29.44 K €	4865.7%	-1,426 € -1 K €	102661.7%
	14.31 % CA 14.31 % CA	47.2%	9.72 % CA 9.72 % CA	25.3%	7.76 % CA 7.76 % CA	-323.23 % CA -323.23 % CA	104.4%	3.98 % CA 3.98 % CA	259.5%

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Operating result	1,462,017 € 1,462 K €	70.7%	856,289 € 856 K €	19.5%	716,494 € 716 K €	29,442.21 € 29.44 K €	4865.7%	-1,426 € -1 K €	102661.7%
+/- Result of joint-venture transferred from/to other partners	0 0 K	0%	0 0 K	0%	0 0 K		-		-
+ Financial income	7,201,337 7,201 K	66.7%	4,318,846 4,319 K	27.3%	3,391,762 3,392 K		-		-
- Financial charges	175,651 176 K	-32.8%	261,219 261 K	-20.7%	329,604 330 K		-		-
Pre-tax result	8,487,703 € 8,488 K €	72.7%	4,913,916 € 4,914 K €	30.0%	3,778,652 € 3,779 K €	2,950,400.94 € 2,950.40 K €	187.7%	21,087 € 21 K €	40151.8%
	83.10 % CA 83.10 % CA	49.0%	55.77 % CA 55.77 % CA	36.2%	40.94 % CA 40.94 % CA	-228.27 % CA -228.27 % CA	136.4%	17.14 % CA 17.14 % CA	384.8%

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Extraordinary income	6,760,870 6,761 K	19358.0%	34,746 35 K	-97.1%	1,183,304 1,183 K	1,291,038.01 1,291.04 K	423.7%	0 0 K	0%
- Extraordinary charges	6,786,732 6,787 K	6223.4%	107,328 107 K	-91.4%	1,244,962 1,245 K		-		-
Extraordinary result	-25,862 € -26 K €	64.4%	-72,582 € -73 K €	-17.7%	-61,658 € -62 K €	-82,463.38 € -82.46 K €	68.6%	0 € 0 K €	0%
	-0.25 % CA -0.25 % CA	69.5%	-0.82 % CA -0.82 % CA	-22.4%	-0.67 % CA -0.67 % CA	1,633.48 % CA 1,633.48 % CA	-100.0%	0.00 % CA 0.00 % CA	0%

	31/12/2016	Variation	31/12/2015	Variation	31/12/2014	Sector Average 2016		Sector Median 2016
Pre-tax result	8,487,703 € 8,488 K €	72.7%	4,913,916 € 4,914 K €	30.0%	3,778,652 € 3,779 K €	2,950,400.94 € 2,950.40 K €	187.7%	21,087 € 21 K €	40151.8%
Extraordinary result	-25,862 € -26 K €	64.4%	-72,582 € -73 K €	-17.7%	-61,658 € -62 K €	-82,463.38 € -82.46 K €	68.6%	0 € 0 K €	0%
- Employee profit sharing	283,621 284 K	135.5%	120,449 120 K	-29.2%	170,039 170 K		-		-
- Tax on profits	333,328 333 K	97.8%	168,508 169 K	41.1%	119,412 119 K		-		-
Net result	7,844,892 € 7,845 K €	72.3%	4,552,377 € 4,552 K €	32.8%	3,427,543 € 3,428 K €	3,108,592.46 € 3,108.59 K €	152.4%	21,623 € 22 K €	36180.3%
	76.81 % CA 76.81 % CA	48.7%	51.66 % CA 51.66 % CA	39.1%	37.13 % CA 37.13 % CA	793.00 % CA 793.00 % CA	-90.3%	17.44 % CA 17.44 % CA	340.4%

Key Performance Indicators

Find below a comparison of the company based on the industry code (primary) with other companies from the same industry. The following analysis has been based on the industry code 7010Z - Activities of head offices.

Key Performance Indicators

Graphical analysis

Net Turnover

	31/12/2016	31/12/2015	31/12/2014
Company Result	10,213,741 €	8,811,793 €	9,230,252 €
Sector Average	9,453,433 €	9,081,894 €	12,795,240 €

Net Profit

	31/12/2016	31/12/2015	31/12/2014
Company Result	7,844,888 €	4,552,375 €	3,427,542 €
Sector Average	3,128,802 €	5,119,046 €	3,162,366 €

Net Export Turnover

	31/12/2016	31/12/2015	31/12/2014
Company Result	1,195 €	549 €	777 €
Sector Average	378,104 €	387,949 €	368,158 €

Account Total

	31/12/2016	31/12/2015	31/12/2014
Company Result	40,065,489 €	39,832,702 €	44,179,092 €
Sector Average	88,654,124 €	80,815,057 €	94,705,650 €

Shareholders Equity

	31/12/2016	31/12/2015	31/12/2014
Company Result	22,571,589 €	19,685,843 €	18,092,610 €
Sector Average	41,894,108 €	41,191,054 €	45,254,369 €

Liabilities

	31/12/2016	31/12/2015	31/12/2014
Company Result	17,493,900 €	20,062,436 €	26,071,481 €
Sector Average	43,930,019 €	37,424,979 €	46,392,446 €

Need background in operating working capital

	31/12/2016	31/12/2015	31/12/2014
Company Result	135 €	72 €	42 €
Sector Average	-57 €	-925 €	64 €

Gross operating surplus (EBE)

	31/12/2016	31/12/2015	31/12/2014
Company Result	136,720 €	-4,673 €	-172,836 €
Sector Average	-56,811 €	-88,457 €	-55,022 €

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34
Euro	1	INR 80.51

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	SYL

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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