3decades

MIRA INFORM REPORT

Report No. :	492841
Report Date :	17.02.2018

IDENTIFICATION DETAILS

Name :	YAKOTA

Registered Office :	31 Rue Greuze, 75116 Paris

Country :	France

Financials (as on) :	31.12.2013

Date of Incorporation :	March, 2011

Com. Reg. No.:	RCS Paris B 530 886 290

Legal Form :	Public limited company with board of directors

Line of Business :	Remote Sales on General Catalog.

No. of Employees :	1 or 2 Employees

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

High Risk

Business dealing not recommended or on secured terms only

Status :	Under Liquidation

Payment Behaviour :	--

Litigation :	--

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

France

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

FRANCE - ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. 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

17/02/2018 09:39:34

YAKOTA

YAKOTA - 530 886 290 00010

Company Summary

SIRET	530 886 290 00010	Click to view full map.
Name	YAKOTA
Acronym	-
Trade name	-
Status	Liquidation
Postal Address	YAKOTA 31 RUE GREUZE 75116 PARIS FRANCE
Share Capital	37,000 Euros
Telephone	01 53 65 15 15
Activity (APE)	Remote sales on general catalog (4791A)	RCS Registration	RCS Paris B 530 886 290
Formation Date	02/2011	EUR VAT Number	FR71530886290
Deregistration Date	-	Last account Date	31/12/2013
Court Registry Number	20 1 1B05348	Incorporation Date	03/2011
Registration Court	Paris (75)	Fax	01 53 70 96 16
Nationality	France	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
31/12/2013	2,032,410 €	-23.53% Turnover	2,811 €	-400,557 €	1 or 2 employees
31/12/2012	2,209,056 €	-18.31% Turnover	403,368 €	-292,083 €	1 or 2 employees

View details

Directors

Current Directors

View Details

Judgment and Preferential

Judgment	Last Judgement 17/12/2015
Preferential Right	This company is not under monitoring

Establishment Details

Type of Establishment	Head Office	Production Role	-
APE/NAF Code	4791A	Activity	Remote sales on general catalog
Formation Date	02/2011	Reason for Formation	Formation
Closure Date	-	Reason for Closure	-
Reactivation Date	-	Seasonality	-
Activity Nature	Other	Activity Location	Other
Trading Address	31 RUE GREUZE 75116 PARIS 16	Department	Paris (75)
Location Surface	-	District	1
City	PARIS 16	Status	Liquidation
Business Pages FT®	VENTES PAR CORRESPONDANCE ET A DISTANCE	Region	Ile-de-France
		Area	-
		Size of Urban Area	Paris conglomeration

Other Establishment(s)

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity
Branches	0 branch entities in this company

Company Name	Company Type	APE/NAF Code	Activity	City	Post Code
YAKOTA	Head Office	4791A	Remote sales on general catalog	PARIS 16	75116

Workforces

Workforce at address	1 or 2 employees	Company workforce	1 or 2 employees
		Workforce account	Workforce unknown
		31/12/2013

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.

Company is being liquidated or wound-up

Industry comparison

Activity (APE)	Remote sales on general catalog (4791A)
Industry average credit rating	50
Industry average credit limit	2,325

Collective procedures

Courts

Judgment	Involuntary Liquidation	Effective date	10/07/2015
Court	PARIS
Details Le Tribunal de Commerce de PARIS, a prononcé, en date du 10/07/2015, l'ouverture de la liquidation judiciaire sous le numéro P201502106, date de cessation des paiements le 04/06/2015, et a désigné : juge commissaire M. Olivier Castello liquidateur SCP Canet-Morand en la personne de Me Patrick Canet 53 bis quai des Grands Augustins 75006 Paris, les déclarations de créances sont à deposer au liquidateur dans les deux mois de la publication au bodacc

Rncs

Judgment	Judgement allowing the trading proceedings	Effective date	21/10/2015
Judgment	Involuntary Liquidation	Effective date	10/07/2015
Director	SCP CANET-MORAND EN LA PERSONNE DE ME PATRICK CANET	Position	Liquidateur
Address	75006
Director	SELAS ASCAGNE AJ EN LA PERSONNE DE ME JULIE LAVOIR	Position	Official receiver
Address	75006

Bodacc

Judgment	Other rulings and court orders	Effective date	17/12/2015
Court	Paris	Parution date from Gazette	10/01/2016
Arrêt de la Cour d'Appel Autre arrêt de la Cour d'Appel Par arrêt de la Cour d'Appel de Paris en date du : 17 décembre 2015 Infirme le jugement rendu le 10 juillet 2015 ayant ouvert une procédure de liquidation judiciaire.
Judgment	Involuntary Liquidation	Effective date	10/07/2015
Court	Paris	Parution date from Gazette	04/08/2015
Jugement d'ouverture Jugement d'ouverture de liquidation judiciaire Jugement prononçant la liquidation judiciaire, désignant liquidateur SCP Canet-Morand en la personne de Me Patrick Canet 53 bis quai des Grands Augustins 75006 Paris. Les déclarations de créances sont à déposer au liquidateur dans les deux mois de la présente publication.

Other sources

No recent judgment publication in other sources for the company

Status of collection

This company is not under monitoring

Preferential rights details and history

Status of collection

This company is not under monitoring

Group Data

No group information available for the company

Shareholders

No Shareholders available for this company

Linkages

No Linkages information available for the company.

Shareholder(s)

Name	ISF INNOVATION COMMERCE ELECTRONIQUE
Name of representative	M PATOUILLAUD JEAN-MARC
Manager position	Administrator	Date of birth	12/02/1958
Place of birth	SURESNES 92150
Type	Moral person	Name at birth

Director(s)

Name	M. ICHAI JONATHAN
Manager position	Chairman of the Board, Managing director	Date of birth	30/09/1978
Place of birth	PARIS (75015)
Type	Individual	Name at birth
				View Details
Name	Mme. ICHAI EVA
Manager position	Administrator	Date of birth	21/09/1985
Place of birth	BOULOGNE-BILLANCOURT (92100)
Type	Individual	Name at birth	MAICAS

Statutory Auditor

Name	FINANTIS HOLDING
Name of representative
Manager position	Deputy auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Name	AUDIT CONSEIL HOLDING
Name of representative
Manager position	Statutory auditor	Date of birth	-
Place of birth
Type	Moral person	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M. ICHAI JONATHAN	30/09/1978 - PARIS (75015)	View Details
Chairman of the Board	M. ICHAI JONATHAN	30/09/1978 - PARIS (75015)	View Details
Managing director	M. ICHAI JONATHAN	30/09/1978 - PARIS (75015)	View Details
Administrator	Mme. ICHAI EVA	21/09/1985 - BOULOGNE-BILLANCOURT (92100)	View Details
Administrator	ISF INNOVATION COMMERCE ELECTRONIQUE	12/02/1958 - SURESNES 92150	View Details

Status history

Date	Description
10/07/2015	Liquidation

Recent publications in Gazettes

	Publication date	Gazette Name	Description
Hide	10/01/2016	Bodacc A	Arrêt de la Cour d'Appel
75 - PARIS TRIBUNAL DE COMMERCE DE PARIS 2462 - Date : 17 décembre 2015. Autre arrêt de la Cour d'Appel. 530 886 290 RCS Paris. YAKOTA. Forme : Société anonyme. Activité : Opération de commerce sur internet, conseil, étude, et assistance informatique et E-commerce. Adresse : 31 rue Greuze, 75116 Paris. Complément de jugement : Par arrêt de la Cour d'Appel de Paris en date du : 17 décembre 2015 Infirme le jugement rendu le 10 juillet 2015 ayant ouvert une procédure de liquidation judiciaire.
Hide	04/08/2015	Bodacc A	Jugement d'ouverture
75 - PARIS TRIBUNAL DE COMMERCE DE PARIS 1653 - Date : 10 juillet 2015. Jugement d'ouverture de liquidation judiciaire. 530 886 290 RCS Paris. YAKOTA. Forme : Société anonyme. Activité : Opération de commerce sur internet, conseil, étude, et assistance informatique et E-commerce. Adresse : 31 rue Greuze, 75116 Paris. Complément de jugement : Jugement prononçant la liquidation judiciaire, désignant liquidateur SCP Canet-Morand en la personne de Me Patrick Canet 53 bis quai des Grands Augustins 75006 Paris. Les déclarations de créances sont à déposer au liquidateur dans les deux mois de la présente publication.
Hide	20/03/2015	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 4632 - 530886290 RCS. YAKOTA. Forme : Société anonyme. Adresse : 31 rue Greuze 75116 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2013.
Hide	20/03/2015	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 4631 - 530886290 RCS. YAKOTA. Forme : Société anonyme. Adresse : 31 rue Greuze 75116 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
Hide	22/12/2011	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 844 - 530 886 290 RCS Paris. YAKOTA. Forme : Société par actions simplifiée. Administration : modification du Président et Administrateur Ichai, Jonathan, nomination de l'Administrateur : Maicas, nom d'usage : Ichai, Eva, nomination de l'Administrateur : ISF INNOVATION COMMERCE ELECTRONIQUE représentée par Patouillaud, Jean-Marc, nomination du Commissaire aux comptes titulaire : AUDIT CONSEIL HOLDING, nomination du Commissaire aux comptes suppléant : FINANTIS HOLDING. Capital : 13346 EUR. Activité : . Adresse du siège social : 31 rue Greuze, 75116 Paris. Commentaires : modification survenue sur le capital (augmentation) et l'administration.
Hide	22/12/2011	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 845 - 530 886 290 RCS Paris. YAKOTA. Forme : Société anonyme. Administration : modification du Président du conseil d'administration et Directeur général Ichai, Jonathan. Capital : 37000 EUR. Activité : . Adresse du siège social : 31 rue Greuze, 75116 Paris. Commentaires : modification survenue sur le capital (augmentation), la forme juridique et l'administration.
Hide	15/11/2011	JAL	Resignation / Revocation of the social representative
Affiches parisiennes (Les) Date de décision : 26/09/2011 La société 530886290 - YAKOTA, 31 RUE GREUZE, 75116 PARIS 16 Fait l'objet du départ de Monsieur Jonathan ICHAI Date d'effet : 26/09/2011
Hide	15/11/2011	JAL	Appointment of the social representative
Affiches parisiennes (Les) Société faisant l'objet d'une nomination : 530886290 - YAKOTA, 31 RUE GREUZE, 75116 PARIS 16 Nominé : Monsieur Jonathan ICHAI En la fonction de : Président du Conseil d'Administration Nominé : Monsieur Jonathan ICHAI En la fonction de : Directeur général Date d'effet : 26/09/2011
Hide	15/11/2011	JAL	Modification of the share capital
Affiches parisiennes (Les) Date de décision : 26/09/2011 La société : 530886290 - YAKOTA, 31 RUE GREUZE, 75116 PARIS 16 a subi une augmentation de son capital social désormais de 37 000 € Date d'effet : 26/09/2011
Hide	17/08/2011	JAL	Appointment of the social representative
Affiches parisiennes (Les) Société faisant l'objet d'une nomination : 530886290 - YAKOTA, 31 RUE GREUZE, 75116 PARIS 16 Nominé : En la fonction de : Administrateur Nominé : Madame Eva ICHAI, 75017 PARIS 17 En la fonction de : Administrateur Nominé : Monsieur Jonathan ICHAI En la fonction de : Administrateur Date d'effet : 01/08/2011
Hide	17/08/2011	JAL	Modification of the share capital
Affiches parisiennes (Les) Date de décision : 01/08/2011 La société : 530886290 - YAKOTA, 31 RUE GREUZE, 75116 PARIS 16 a subi une augmentation de son capital social désormais de 13 346 € Date d'effet : 01/08/2011
Hide	25/03/2011	Bodacc A	Création d'établissement
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1474 - 530 886 290 RCS Paris. YAKOTA. Forme : Société par actions simplifiée. Enseigne : YAKOTA. Administration : Président : Ichai, Jonathan. Capital : 10000 EUR. Adresse : 31 rue Greuze, 75116 Paris. Origine du fonds : Création d'un fonds de commerce. Etablissement : Etablissement principal. Activité : Opération de commerce sur internet, conseil en E-commerce. Adresse : 31 rue Greuze, 75116 Paris. A dater du : 10/03/2011. Date de commencement de l’activité : 20/02/2011. Descriptif : . Commentaires : Immatriculation d'une personne morale (B, C, D) suite à création d'un établissement principal.

Company events history

Date	Description
05/08/2016	Payment incident closed
10/01/2016	New collective procedure
21/10/2015	New collective procedure
04/08/2015	New collective procedure
22/07/2015	New collective procedure
20/07/2015	Payment incident detected
10/07/2015	New collective procedure
10/07/2015	New collective procedure
20/03/2015	Bodacc C : Deposit accounts notice
03/03/2015	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
29/10/2014	Payment incident closed
22/08/2014	Payment incident detected
31/12/2013	New accounts available
31/12/2012	New accounts available
22/12/2011	Bodacc B: Various editing or changing
07/12/2011	Updated articles of association
07/12/2011	New legal form – new category
07/12/2011	Fund deposit certificate
07/12/2011	Changes to the Board of Directors
07/12/2011	Capital increase
07/12/2011	Audit or Management Report
07/12/2011	Amendment
07/12/2011	Minutes of Board meeting
15/11/2011	Legal Gazette: Resignation / Revocation of the social representative
26/09/2011	Update of Company Legal Form
26/09/2011	Other modification of Establishment (error correction)
26/09/2011	Legal Gazette: Modification of the share capital
26/09/2011	Legal Gazette: Appointment of the social representative
01/08/2011	Legal Gazette: Modification of the share capital
01/08/2011	Legal Gazette: Appointment of the social representative
22/07/2011	Application and court order
25/03/2011	Bodacc A : Establishment creation
10/03/2011	Articles of association
10/03/2011	Amendment
10/03/2011	Fund deposit certificate
20/02/2011	Update of Company Legal Form
20/02/2011	Update of Company Activity
20/02/2011	Modification of Company Activity
20/02/2011	Formation of Company

Establishment events history

Date	Description
05/08/2016	Update of phone numbers
31/03/2016	Update of phone numbers
18/04/2015	Update of phone numbers
15/04/2015	Update of phone numbers
26/09/2011	Modification of Head office
20/02/2011	Modification of Head office Activity
20/02/2011	Formation of Head office
20/02/2011	Update of Establishment Activity

Synthesized Accounts

Annual Accounts

	31/12/2013	31/12/2012
Account period (month)	12	12
Account Type	Normal	Normal
Date of capture	02/03/2015	02/03/2015
Activity Code	4791A	4791A
Employees	0	0

Active account

	31/12/2013	Variation	31/12/2012	Sector Average 2013		Sector Median 2013
Capital not called	0 0 K	0%	0 0 K	58.27 0.06 K	0%	0 0 K	0%
Total fixed assets	326,527 327 K	39.0%	234,991 235 K	483,785.97 483.79 K	-32.5%	3,943 4 K	8181.2%
Intangible assets	299,928 300 K	38.3%	216,909 217 K	257,069.08 257.07 K	16.7%	0 0 K	0%
Tangible assets	20,970 21 K	17.7%	17,822 18 K	138,239.91 138.24 K	-84.8%	680 1 K	2983.8%
Financial assets	5,630 6 K	2065.4%	260 0 K	103,959.28 103.96 K	-94.6%	0 0 K	0%
Net current assets	437,610 438 K	-56.6%	1,008,569 1,009 K	1,477,979.01 1,477.98 K	-70.4%	45,446 45 K	862.9%
Stocks	265,763 266 K	-43.4%	469,170 469 K	511,079.90 511.08 K	-48.0%	9,001 9 K	2852.6%
Advanced payments	0 0 K	0%	0 0 K	13,114.71 13.11 K	0%	0 0 K	0%
Receivables	168,798 169 K	-36.7%	266,497 266 K	648,426.12 648.43 K	-74.0%	7,674 8 K	2099.6%
Securities and cash	3,049 3 K	-98.9%	272,903 273 K	304,946.18 304.95 K	-99.0%	8,584 9 K	-64.5%
Prepaid expenses	- -	-	- -	1,044.07 1.04 K	-	0 0 K	-
Accounts of regularization	0 0 K	0%	0 0 K	151.40 0.15 K	0%	0 0 K	0%
Total Assets	764,138 764 K	-38.6%	1,243,560 1,244 K	1,961,906.72 1,961.91 K	-61.1%	58,231 58 K	1212.3%

Passive Account

	31/12/2013	Variation	31/12/2012	Sector Average 2013		Sector Median 2013
Shareholders' equity	2,811 3 K	-99.3%	403,368 403 K	315,838.52 315.84 K	-99.1%	8,941 9 K	-68.6%
Share capital	37,000 37 K	0%	37,000 37 K	519,755.99 519.76 K	-92.9%	7,700 8 K	380.5%
Other capital resources	0 0 K	0%	0 0 K	163.69 0.16 K	0%	0 0 K	0%
Risk Provisions	0 0 K	0%	0 0 K	77,758.30 77.76 K	0%	0 0 K	0%
Liabilities	761,327 761 K	-9.4%	840,192 840 K	1,566,762.23 1,566.76 K	-51.4%	41,054 41 K	1754.5%
Financial liabilities	19,314 19 K	0%	0 0 K	190,301.55 190.30 K	-89.9%	3,456 3 K	458.9%
Advanced payments received	0 0 K	0%	0 0 K	77,808.48 77.81 K	0%	0 0 K	0%
Trade account payables	505,820 506 K	-13.6%	585,282 585 K	871,682.11 871.68 K	-42.0%	9,443 9 K	5256.6%
Tax and social liabilities	235,931 236 K	20.3%	196,161 196 K	320,235.61 320.24 K	-26.3%	7,206 7 K	3174.1%
Other debts and fixed assets liabilities	262 0 K	-99.6%	58,749 59 K	240,720.11 240.72 K	-99.9%	3,109 3 K	-91.6%
Account regularization	0 0 K	0%	0 0 K	11,448.80 11.45 K	0%	0 0 K	0%
Total liabilities	764,138 764 K	-38.6%	1,243,560 1,244 K	1,961,266.88 1,961.27 K	-61.0%	58,214 58 K	1212.6%

Results

	31/12/2013	Variation	31/12/2012	Sector Average 2013		Sector Median 2013
Sales of Goods	2,269,924 2,270 K	-6.5%	2,427,761 2,428 K	4,708,215.62 4,708.22 K	-51.8%	99,587 100 K	2179.3%
Net turnover	2,032,410 2,032 K	-8.0%	2,209,056 2,209 K	4,534,531.81 4,534.53 K	-55.2%	97,228 97 K	1990.4%
of which net export turnover	80,298 80 K	-2.2%	82,107 82 K	413,205.32 413.21 K	-80.6%	0 0 K	0%
Operating charges	2,775,507 2,776 K	2.0%	2,719,906 2,720 K	4,806,906.87 4,806.91 K	-42.3%	102,707 103 K	2602.4%
Operating profit/loss	-505,583 -506 K	-73.1%	-292,146 -292 K	-98,689.69 -98.69 K	-412.3%	24 0 K	-2106695.8%
Financial income	0 0 K	0%	66 0 K	42,515.02 42.52 K	0%	0 0 K	0%
Financial charges	1,004 1 K	0%	0 0 K	196,647.06 196.65 K	-99.5%	31 0 K	3138.7%
Financial profit/loss	-1,004 -1 K	-1621.2%	66 0 K	-154,132.03 -154.13 K	99.3%	0 0 K	0%
Pretax net operating income	-506,587 -507 K	-73.4%	-292,079 -292 K	-252,823.71 -252.82 K	-100.4%	-1 0 K	-50658600.0%
Extraordinary income	106,329 106 K	817815.4%	13 0 K	53,833.99 53.83 K	97.5%	0 0 K	0%
Extraordinary charges	300 0 K	1664.7%	17 0 K	134,664.90 134.66 K	-99.8%	0 0 K	0%
Extraordinary profit/loss	106,029 106 K	2650825.0%	-4 0 K	-80,830.91 -80.83 K	231.2%	0 0 K	0%
Net result	-400,557 -401 K	-37.1%	-292,083 -292 K	-364,513.70 -364.51 K	-9.9%	251 0 K	-159684.5%

Accounts - Active

Normal Account

			31/12/2013		31/12/2012
Months			12		12

Grand Total - Active Accounts (I to VI)

		31/12/2013	Variation	31/12/2012
Grand Total (I to VI)	Net	764,138 764 K	-38.6%	1,243,560 1,244 K
Gross	CO	1,109,986 1,110 K	-17.6%	1,347,253 1,347 K
Amortisation	1A	345,848 346 K	233.5%	103,693 104 K

Non declared distributed capital (I)

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

Active fixed asset (II)

		31/12/2013	Variation	31/12/2012
Total Active fixed asset (II)	Net	326,527 327 K	39.0%	234,991 235 K
Gross	BJ	672,376 672 K	98.5%	338,683 339 K
Amortisation	BK	345,848 346 K	233.5%	103,693 104 K

Intangible fixed assets

		31/12/2013	Variation	31/12/2012
Start-up cost	Net	0 0 K	0%	0 0 K
Gross	AB	0 0 K	0%	0 0 K
Amortisation	AC	0 0 K	0%	0 0 K
R&D expenses	Net	212,491 212 K	50.9%	140,803 141 K
Gross	CX	424,338 424 K	100.9%	211,204 211 K
Amortisation	CQ	211,847 212 K	200.9%	70,401 70 K
Distributorships, patents	Net	0 0 K	0%	0 0 K
Gross	AF	0 0 K	0%	0 0 K
Amortisation	AG	0 0 K	0%	0 0 K
Goodwill	Net	0 0 K	0%	0 0 K
Gross	AH	0 0 K	0%	0 0 K
Amortisation	AI	0 0 K	0%	0 0 K
Other intangible fixed assets	Net	87,437 87 K	14.9%	76,106 76 K
Gross	AJ	207,346 207 K	101.3%	103,023 103 K
Amortisation	AK	119,909 120 K	345.5%	26,917 27 K
Pre-payments and downpayments	Net	0 0 K	0%	0 0 K
Gross	AL	0 0 K	0%	0 0 K
Amortisation	AM	0 0 K	0%	0 0 K
Sub Total Intangible asset	Net	299,928 300 K	38.3%	216,909 217 K

Tangible fixed assets

		31/12/2013	Variation	31/12/2012
Lands	Net	0 0 K	0%	0 0 K
Gross	AN	0 0 K	0%	0 0 K
Amortisation	AO	0 0 K	0%	0 0 K
Buildings	Net	0 0 K	0%	0 0 K
Gross	AP	0 0 K	0%	0 0 K
Amortisation	AQ	0 0 K	0%	0 0 K
Plant	Net	0 0 K	0%	68 0 K
Gross	AR	271 0 K	0%	271 0 K
Amortisation	AS	271 0 K	33.5%	203 0 K
Other tangible fixed assets	Net	20,970 21 K	18.1%	17,754 18 K
Gross	AT	34,791 35 K	45.4%	23,926 24 K
Amortisation	AU	13,821 14 K	123.9%	6,172 6 K
Fixed assets in construction	Net	0 0 K	0%	0 0 K
Gross	AV	0 0 K	0%	0 0 K
Amortisation	AW	0 0 K	0%	0 0 K
Advances and payments on account	Net	0 0 K	0%	0 0 K
Gross	AX	0 0 K	0%	0 0 K
Amortisation	AY	0 0 K	0%	0 0 K
Sub Total Tangible asset	Net	20,970 21 K	17.7%	17,822 18 K

Financial assets

		31/12/2013	Variation	31/12/2012
Associates at equity	Net	0 0 K	0%	0 0 K
Gross	CS	0 0 K	0%	0 0 K
Amortisation	CT	0 0 K	0%	0 0 K
Other participations	Net	0 0 K	0%	0 0 K
Gross	CU	0 0 K	0%	0 0 K
Amortisation	CV	0 0 K	0%	0 0 K
Inter-company receivables	Net	0 0 K	0%	0 0 K
Gross	BB	0 0 K	0%	0 0 K
Amortisation	BC	0 0 K	0%	0 0 K
Other investment securities	Net	0 0 K	0%	0 0 K
Gross	BD	0 0 K	0%	0 0 K
Amortisation	BE	0 0 K	0%	0 0 K
Loans	Net	0 0 K	0%	0 0 K
Gross	BF	0 0 K	0%	0 0 K
Amortisation	BG	0 0 K	0%	0 0 K
Other financial assets	Net	5,630 6 K	2065.4%	260 0 K
Gross	BH	5,630 6 K	2065.4%	260 0 K
Amortisation	BI	0 0 K	0%	0 0 K
Sub Total Financial assets	Net	5,630 6 K	2065.4%	260 0 K

Current Assets (III)

		31/12/2013	Variation	31/12/2012
Total Current Assets	Net	437,610 438 K	-56.6%	1,008,569 1,009 K
Gross	CJ	437,610 438 K	-56.6%	1,008,569 1,009 K
Amortisation	CK	0 0 K	0%	0 0 K

Stocks

		31/12/2013	Variation	31/12/2012
Raw materials	Net	0 0 K	0%	0 0 K
Gross	BL	0 0 K	0%	0 0 K
Amortisation	BM	0 0 K	0%	0 0 K
Work in progress (goods)	Net	0 0 K	0%	0 0 K
Gross	BN	0 0 K	0%	0 0 K
Amortisation	BO	0 0 K	0%	0 0 K
Work in progress (services)	Net	0 0 K	0%	0 0 K
Gross	BP	0 0 K	0%	0 0 K
Amortisation	BQ	0 0 K	0%	0 0 K
Semi-finished and finished products	Net	0 0 K	0%	0 0 K
Gross	BR	0 0 K	0%	0 0 K
Amortisation	BS	0 0 K	0%	0 0 K
Goods for resale	Net	265,763 266 K	-43.4%	469,170 469 K
Gross	BT	265,763 266 K	-43.4%	469,170 469 K
Amortisation	BU	0 0 K	0%	0 0 K
Sub Total Stocks	Net	265,763 266 K	-43.4%	469,170 469 K

Advance payments to suppliers

		31/12/2013	Variation	31/12/2012
Advance payments to suppliers	Net	0 0 K	0%	0 0 K
Gross	BV	0 0 K	0%	0 0 K
Amortisation	BW	0 0 K	0%	0 0 K

Debtors

		31/12/2013	Variation	31/12/2012
Trade accounts receivable	Net	132,464 132 K	-49.9%	264,208 264 K
Gross	BX	132,464 132 K	-49.9%	264,208 264 K
Amortisation	BY	0 0 K	0%	0 0 K
Other debtors	Net	36,334 36 K	1487.3%	2,289 2 K
Gross	BZ	36,334 36 K	1487.3%	2,289 2 K
Amortisation	CA	0 0 K	0%	0 0 K
Capital subscribed and called up	Net	0 0 K	0%	0 0 K
Gross	CB	0 0 K	0%	0 0 K
Amortisation	CC	0 0 K	0%	0 0 K
Sub Total debtors	Net	168,798 169 K	-36.7%	266,497 266 K

Divers

		31/12/2013	Variation	31/12/2012
Investment securities	Net	0 0 K	0%	0 0 K
Gross	CD	0 0 K	0%	0 0 K
Amortisation	CE	0 0 K	0%	0 0 K
Cash and cash equivalents	Net	3,049 3 K	-98.9%	272,903 273 K
Gross	CF	3,049 3 K	-98.9%	272,903 273 K
Amortisation	CG	0 0 K	0%	0 0 K
Sub Total Divers	Net	3,049 3 K	-98.9%	272,903 273 K

Prepaid expenses

		31/12/2013	Variation	31/12/2012
Prepaid expenses	Net	0 0 K	0%	0 0 K
Gross	CH	0 0 K	0%	0 0 K
Amortisation	CI	0 0 K	0%	0 0 K

Equalization accounts (IV to VI)

		31/12/2013	Variation	31/12/2012
Expenses of loan issue to be spread	CW3	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K
Premiums on redemption of bonds	CM3	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K
Currency differential gain	CN3	0 0 K	0%	0 0 K
Gross		0 0 K	0%	0 0 K

References

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

Accounts - Passive

Grand Total - Passive Accounts (I to V)

			31/12/2013	Variation	31/12/2012
Grand Total (I to V)	EE		764,138 764 K	-38.6%	1,243,560 1,244 K

Shareholder Equity (I)

		31/12/2013	Variation	31/12/2012
Total shareholders' equity (Total I)	DL	2,811 3 K	-99.3%	403,368 403 K
Equity and shareholders' equity	DA	37,000 37 K	0%	37,000 37 K
Issue and merger premiums	DB	943,340 943 K	0%	943,340 943 K
Revaluation differentials	DC	0 0 K	0%	0 0 K
Of which equity differential	EK	0 0 K	0%	0 0 K
Legal reserve	DD	0 0 K	0%	0 0 K
Statutory or contractual reserve	DE	0 0 K	0%	0 0 K
Special regulated reserves	DF	0 0 K	0%	0 0 K
Of which special reserve of provisions for current fluctuation	B1	0 0 K	0%	0 0 K
Other reserves	DG	0 0 K	0%	0 0 K
Of which reserve for buying originals works from alive artists	EJ	0 0 K	0%	0 0 K
Profits or losses brought forward	DH	-576,972 -577 K	-102.5%	-284,890 -285 K
Profit or loss for the period	DI	-400,557 -401 K	-37.1%	-292,083 -292 K
Investment grants	DJ	0 0 K	0%	0 0 K
Special tax-allowable reserves	DK	0 0 K	0%	0 0 K

Other capital resources (II)

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

Provisions for risks and charges (III)

		31/12/2013	Variation	31/12/2012
Total provisions for risks and charges (Total III)	DR	0 0 K	0%	0 0 K
Risk provisions	DP	0 0 K	0%	0 0 K
Reserves for charges	DQ	0 0 K	0%	0 0 K

Liabilities (IV)

		31/12/2013	Variation	31/12/2012
Total Liabilities (Total IV)	EC	761,327 761 K	-9.4%	840,192 840 K
Convertible debentures	DS	0 0 K	0%	0 0 K
Other debentures	DT	0 0 K	0%	0 0 K
Bank loans and liabilities	DU	19,314 19 K	0%	0 0 K
Sundry loans and financial liabilities	DV	0 0 K	0%	0 0 K
Of which participating loans	EI	0 0 K	0%	0 0 K
Advance payments received for current orders	DW	0 0 K	0%	0 0 K
Trade accounts payables	DX	505,820 506 K	-13.6%	585,282 585 K
Tax and social security liabilities	DY	235,931 236 K	20.3%	196,161 196 K
Fixed asset liabilities	DZ	0 0 K	0%	0 0 K
Other debts	EA	262 0 K	-99.6%	58,749 59 K

Translation loss (V)

			31/12/2013	Variation	31/12/2012
Translation loss (Total V)	ED		0 0 K	0%	0 0 K

Equalization accounts

			31/12/2013	Variation	31/12/2012
Deferred income	EB		0 0 K	0%	0 0 K

References

		31/12/2013	Variation	31/12/2012
Of which tax-allowable reserve	EF	0 0 K	0%	0 0 K
Deferred income and liabilities	EG	761,327 761 K	-9.4%	840,192 840 K
Of which current bank facilities	EH	19,314 19 K	0%	0 0 K

Result account

1 - Operating result (I-II)

			31/12/2013	Variation	31/12/2012
Operating result (Total I-II)	GG		-505,583 -506 K	-73.1%	-292,146 -292 K

2 - Financial result (V-VI)

			31/12/2013	Variation	31/12/2012
Financial result (Total V-VI)	GV		-1,004 -1 K	-1621.2%	66 0 K

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

			31/12/2013	Variation	31/12/2012
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW		-506,587 -507 K	-73.4%	-292,079 -292 K

4 - Extraordinary result (VII-VIII)

			31/12/2013	Variation	31/12/2012
Extraordinary result (Total VII-VIII)	HI		106,029 106 K	2650825.0%	-4 0 K

Profit or loss

			31/12/2013	Variation	31/12/2012
Profit or loss	HN		-400,557 -401 K	-37.1%	-292,083 -292 K

Total Income (I+III+V+VII)

			31/12/2013	Variation	31/12/2012
Total Income (Total I+III+V+VII)	HL		2,376,254 2,376 K	-2.1%	2,427,841 2,428 K

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

			31/12/2013	Variation	31/12/2012
Total Charges (Total II+IV+VI+VIII+IX+X)	HM		2,776,811 2,777 K	2.1%	2,719,923 2,720 K

Operating income (I)

			31/12/2013	Variation	31/12/2012
Total operating income (Total I)	FR		2,269,924 2,270 K	-6.5%	2,427,761 2,428 K

Operating income (details)

		31/12/2013	Variation	31/12/2012
Sale of goods for resale	FC	2,032,410 2,032 K	-8.0%	2,209,056 2,209 K
France	FA	1,952,111 1,952 K	-8.2%	2,126,949 2,127 K
Export	FB	80,298 80 K	-2.2%	82,107 82 K
Sale of goods produced	FF	0 0 K	0%	0 0 K
France	FD	0 0 K	0%	0 0 K
Export	FE	0 0 K	0%	0 0 K
Sale of services	FI	0 0 K	0%	0 0 K
France	FG	0 0 K	0%	0 0 K
Export	FH	0 0 K	0%	0 0 K
Net turnover	FL	2,032,410 2,032 K	-8.0%	2,209,056 2,209 K
France	FJ	1,952,111 1,952 K	-8.2%	2,126,949 2,127 K
Export	FK	80,298 80 K	-2.2%	82,107 82 K
Stocked production	FM	0 0 K	0%	0 0 K
Self-constructed assets	FN	0 0 K	0%	0 0 K
Operating grants	FO	22,500 23 K	200.0%	7,500 8 K
Release of reserves and provisions	FP	213,133 213 K	0.9%	211,204 211 K
Other income	FQ	1,881 2 K	0%	0 0 K

Operating charges (II)

31/12/2013

Variation

31/12/2012

Total operating charges (Total II)

2,775,507 2,776 K

2.0%

2,719,906 2,720 K

Exploitation charges

		31/12/2013	Variation	31/12/2012
Purchase of goods for resale	FS	722,944 723 K	-26.4%	982,585 983 K
Change in stocks of goods for resale	FT	203,406 203 K	164.1%	77,021 77 K
Purchase of raw materials	FU	18,863 19 K	214.3%	6,001 6 K
Change in stocks of raw materials	FV	0 0 K	0%	0 0 K
Other external purchases and charges	FW	1,190,003 1,190 K	3.6%	1,149,124 1,149 K
Tax, duty and similar payments	FX	12,324 12 K	6.5%	11,568 12 K
Payroll	FY	285,168 285 K	0.0%	285,262 285 K
Social security costs	FZ	100,447 100 K	-8.2%	109,458 109 K

Depreciation

		31/12/2013	Variation	31/12/2012
Depreciation of fixed assets	GA	242,155 242 K	145.1%	98,814 99 K
Amortisation of fixed assets	GB	0 0 K	0%	0 0 K
Depreciation/amortisation of current assets	GC	0 0 K	0%	0 0 K
Provisions for risks and charges	GD	0 0 K	0%	0 0 K

Other charges

			31/12/2013	Variation	31/12/2012
Other charges	GE		196 0 K	168.5%	73 0 K

Operating charges (III-IV)

		31/12/2013	Variation	31/12/2012
Share of joint-venture transferred to other partner(s) (Total III)	GH	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

Financial income (V)

		31/12/2013	Variation	31/12/2012
Total financial income (Total V)	GP	0 0 K	0%	66 0 K
Share financial income	GJ	0 0 K	0%	0 0 K
Other investment income & capitalised receivables	GK	0 0 K	0%	0 0 K
Other interest and similar income	GL	0 0 K	0%	0 0 K
Released provisions and transferred charges	GM	0 0 K	0%	0 0 K
Exchange gains	GN	0 0 K	0%	67 0 K
Net income from disposal of investment securities	GO	0 0 K	0%	0 0 K

Financial charge (VI)

		31/12/2013	Variation	31/12/2012
Total financial charge (Total VI)	GU	1,004 1 K	0%	0 0 K
Financial reserves and provisions	GQ	0 0 K	0%	0 0 K
Interest and similar charges	GR	1,004 1 K	0%	0 0 K
Exchange losses	GS	0 0 K	0%	0 0 K
Net loss from disposal of investment securities	GT	0 0 K	0%	0 0 K

Extraordinary income (VII)

		31/12/2013	Variation	31/12/2012
Total extraordinary income (Total VII)	HD	106,329 106 K	817815.4%	13 0 K
Extraordinary operating income	HA	106,329 106 K	817815.4%	13 0 K
Extraordinary income from capital transactions	HB	0 0 K	0%	0 0 K
Released provisions and transferred charges	HC	0 0 K	0%	0 0 K

Extraordinary charges (VIII)

		31/12/2013	Variation	31/12/2012
Total extraordinary charges (Total VIII)	HH	300 0 K	1664.7%	17 0 K
Extraordinary operating charges	HE	300 0 K	1664.7%	17 0 K
Extraordinary charges from capital transactions	HF	0 0 K	0%	0 0 K
Extraordinary reserves and provisions	HG	0 0 K	0%	0 0 K

Employee profit sharing (IX)

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

Tax on profits (X)

			31/12/2013	Variation	31/12/2012
Tax on profits (Total X)	HK		0 0 K	0%	0 0 K

References

		31/12/2013	Variation	31/12/2012
Of which equipment leases	HP	0 0 K	0%	0 0 K
Of which property leases	HQ	0 0 K	0%	0 0 K
Of which transferred charges	A1	0 0 K	0%	0 0 K
Of which trader's own contributions	A2	0 0 K	0%	0 0 K
Of which royalties on licences and patents (income)	A3	0 0 K	0%	0 0 K
Of which royalties on licences and patents (charges)	A4	0 0 K	0%	0 0 K

Other incomes tax return forms

Fixed Assets

Grand Total Fixed Assets (I to IV)

		31/12/2013	Variation	31/12/2012
Gross value at begin of period	OG	0 0 K	0%	0 0 K
Increasess due to revaluation	OH	0 0 K	0%	0 0 K
Decreasess, acquisitions, creations, contributions	OJ	0 0 K	0%	0 0 K
Decreasess by budget item transfer	OK1	0 0 K	0%	0 0 K
Decreasess by transfers	OK2	0 0 K	0%	0 0 K
Gross value at the end of period	OL	672,376 672 K	98.5%	338,683 339 K

Research and development Charge (Total I)

		31/12/2013	Variation	31/12/2012
Gross value at begin of period	CZ	211,204 211 K	0%	0 0 K
Increasess due to revaluation	KB	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	KC	213,133 213 K	0.9%	211,204 211 K
Decreasess by budget item transfer	CO1	0 0 K	0%	0 0 K
Decreasess by transfers	CO2	0 0 K	0%	0 0 K
Gross value at the end of period	DO	424,338 424 K	100.9%	211,204 211 K

Other budget item from Intangible fixed assets (Total II)

		31/12/2013	Variation	31/12/2012
Gross value at begin of period	KD	103,023 103 K	407.5%	20,300 20 K
Increasess due to revaluation	KE	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	KF	104,324 104 K	26.1%	82,723 83 K
Decreasess by budget item transfer	LV1	0 0 K	0%	0 0 K
Decreasess by transfers	LV2	0 0 K	0%	0 0 K
Gross value at the end of period	LW	207,346 207 K	101.3%	103,023 103 K

Tangible fixed assets (Total III)

		31/12/2013	Variation	31/12/2012
Gross value at begin of period	LN	24,196 24 K	244.3%	7,028 7 K
Increasess due to revaluation	LO	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	LP	10,865 11 K	-36.7%	17,168 17 K
Decreasess by budget item transfer	NG1	0 0 K	0%	0 0 K
Decreasess by transfers	NG2	0 0 K	0%	0 0 K
Gross value at the end of period	NH	35,062 35 K	44.9%	24,196 24 K

Financial assets (Total IV)

		31/12/2013	Variation	31/12/2012
Gross value at begin of period	LQ	260 0 K	0%	0 0 K
Increasess due to revaluation	LR	0 0 K	0%	0 0 K
Increasess, acquisitions, creations, contributions	LS	5,370 5 K	1965.4%	260 0 K
Decreasess by budget item transfer	NJ1	0 0 K	0%	0 0 K
Decreasess by transfers	NJ2	0 0 K	0%	0 0 K
Gross value at the end of period	NK	5,630 6 K	2065.4%	260 0 K

Reserve for depreciation

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

		31/12/2013	Variation	31/12/2012
Reserve for depreciation value at begin of period	ON	0 0 K	0%	0 0 K
Increases	OP	0 0 K	0%	0 0 K
Decreasess	OQ	0 0 K	0%	0 0 K
Reserve for depreciation value at the end of period	OR	0 0 K	0%	0 0 K

Research and development charge (Total I)

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

Other intangible assets (Total II)

		31/12/2013	Variation	31/12/2012
Reserve for depreciation value at begin of period	PE	26,917 27 K	525.4%	4,304 4 K
Increases	PF	92,992 93 K	311.2%	22,613 23 K
Decreasess	PG	0 0 K	0%	0 0 K
Decreasess by budget item transfer	PH	119,909 120 K	345.5%	26,917 27 K

Total fixed assets amotisation (Total III)

		31/12/2013	Variation	31/12/2012
Reserve for depreciation value at begin of period	QU	6,375 6 K	1008.7%	575 1 K
Increases	QV	7,717 8 K	33.1%	5,800 6 K
Decreases	QW	0 0 K	0%	0 0 K
Decreasess by budget item transfer	QX	14,092 14 K	121.1%	6,375 6 K

Movements during period affecting charge allocated over several period

Deferred charges and debt issuance costs

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

Premium refund of obligations

		31/12/2013	Variation	31/12/2012
Net value at begin of period	SP1	0 0 K	0%	0 0 K
Increases	SP2	0 0 K	0%	0 0 K
Depreciation of fixed assets during period	SP	424,338 424 K	100.9%	211,204 211 K
Net value at the end of period	SR	0 0 K	0%	0 0 K

Provisions included in balance sheet

Grand Total (I-II-III)

		31/12/2013	Variation	31/12/2012
Value at begining of period	7C	0 0 K	0%	0 0 K
Increases	UB	0 0 K	0%	0 0 K
Decreases	UC	0 0 K	0%	0 0 K
Value at the end of period	UD	0 0 K	0%	0 0 K

Includes Total allocations

		31/12/2013	Variation	31/12/2012
Operating	UE	0 0 K	0%	0 0 K
Financial	UG	0 0 K	0%	0 0 K
Exceptional	UJ	0 0 K	0%	0 0 K

Includes Total Withdrawal

		31/12/2013	Variation	31/12/2012
Operating	UF	0 0 K	0%	0 0 K
Financial	UH	0 0 K	0%	0 0 K
Exceptional	UK	0 0 K	0%	0 0 K

Total regulated provisions (Total I)

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

Total risk and charge provisions (Total II)

		31/12/2013	Variation	31/12/2012
Value at begining of period	5Z	0 0 K	0%	0 0 K
Increases	TV	0 0 K	0%	0 0 K
Decreases	TW	0 0 K	0%	0 0 K
Value at the end of period	TX	0 0 K	0%	0 0 K

Total Provision for depreciation (Total III)

		31/12/2013	Variation	31/12/2012
Value at begining of period	7B	0 0 K	0%	0 0 K
Increases	TY	0 0 K	0%	0 0 K
Decreases	TZ	0 0 K	0%	0 0 K
Value at the end of period	UA	0 0 K	0%	0 0 K

State deadlines claims and debts at the end of period

State claims

		31/12/2013	Variation	31/12/2012
Gross value	VT	174,429 174 K	-34.6%	266,756 267 K
1 year at most	VU	168,799 169 K	-36.7%	266,496 266 K
More than one year	VV	5,630 6 K	2065.4%	260 0 K

State of loans

		31/12/2013	Variation	31/12/2012
Claims related to holdings (gross)	UL	0 0 K	0%	0 0 K
Claims related to shareholdings (1 year at most)	UM	0 0 K	0%	0 0 K
Loans (gross)	UP	0 0 K	0%	0 0 K
Loans (1 year at most)	UR	0 0 K	0%	0 0 K
Other financial assets (gross)	UT	5,630 6 K	2065.4%	260 0 K
Other financial assets (1 year at most)	UV	0 0 K	0%	0 0 K

		31/12/2013	Variation	31/12/2012
Customers doubtful or disputed	VA	0 0 K	0%	0 0 K
Other claims customer	UX	132,464 132 K	-49.9%	264,208 264 K
Receivables represent Loaned Securities	UU	0 0 K	0%	0 0 K
Provision for depreciation previously established	UQ	0 0 K	0%	0 0 K
Personnel and associated accounts	UY	0 0 K	0%	0 0 K
Social Security and other social organizations	UZ	0 0 K	0%	0 0 K
Income taxes	VM	0 0 K	0%	0 0 K
Value added tax	VB	1,583 2 K	-30.8%	2,289 2 K
Other taxes and payments assimilated	VN	0 0 K	0%	0 0 K
State and other public - Miscellaneous	VP	0 0 K	0%	0 0 K
Group and Associates	VC	0 0 K	0%	0 0 K
Accounts receivable (including claims relating to the operation of pension titles)	VR	34,751 35 K	0%	0 0 K

Prepaid

			31/12/2013	Variation	31/12/2012
Prepaid	VS		0 0 K	0%	0 0 K

State Debt

		31/12/2013	Variation	31/12/2012
Total debt (gross)	VY	761,327 761 K	-9.4%	840,192 840 K
1 year at most	VZ2	761,327 761 K	-9.4%	840,192 840 K
More than 1 year and 5 years at most	VZ3	0 0 K	0%	0 0 K
More than 5 years	VZ4	0 0 K	0%	0 0 K

Details

		31/12/2013	Variation	31/12/2012
Convertible bonds (gross)	7Y1	0 0 K	0%	0 0 K
1 year at most	7Y2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	7Y3	0 0 K	0%	0 0 K
Other bonds (gross)	7Z1	0 0 K	0%	0 0 K
1 year at most	7Z2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	7Z3	0 0 K	0%	0 0 K
Borrowing & debts to 1 year maximum at the origin (gross)	VG1	19,314 19 K	0%	0 0 K
1 year at most	VG2	19,314 19 K	0%	0 0 K
More than 1 year and 5 years at most	VG3	0 0 K	0%	0 0 K
Borrowing & debts to more than 1 year at the origin (gross)	VH1	0 0 K	0%	0 0 K
1 year at most	VH2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VH3	0 0 K	0%	0 0 K
Loans and various financial liabilities (gross)	8A1	0 0 K	0%	0 0 K
1 year at most	8A2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8A3	0 0 K	0%	0 0 K
Suppliers and associated accounts (gross)	8B1	505,820 506 K	-13.6%	585,282 585 K
1 year at most	8B2	505,820 506 K	-13.6%	585,282 585 K
More than 1 year and 5 years at most	8B3	505,820 506 K	-13.6%	585,282 585 K
Personnel and associated accounts (gross)	8C1	22,946 23 K	2.3%	22,424 22 K
1 year at most	8C2	22,946 23 K	2.3%	22,424 22 K
More than 1 year and 5 years at most	8C3	0 0 K	0%	0 0 K
Social Security and other social organizations (gross)	8D1	89,414 89 K	17.0%	76,417 76 K
1 year at most	8D2	89,414 89 K	17.0%	76,417 76 K
More than 1 year and 5 years at most	8D3	0 0 K	0%	0 0 K
Taxes on profits (gross)	8E1	0 0 K	0%	0 0 K
1 year at most	8E2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8E3	0 0 K	0%	0 0 K
VAT (Gross)	VW1	123,570 124 K	31.5%	93,990 94 K
1 year at most	VW2	123,570 124 K	31.5%	93,990 94 K
More than 1 year and 5 years at most	VW3	0 0 K	0%	0 0 K
Backed Obligations (gross)	VX1	0 0 K	0%	0 0 K
1 year at most	VX2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VX3	0 0 K	0%	0 0 K
Other taxes and assimilated (gross)	VQ1	0 0 K	0%	3,331 3 K
1 year at most	VQ2	0 0 K	0%	3,331 3 K
More than 1 year and 5 years at most	VQ3	0 0 K	0%	0 0 K
Assets and liabilities associated accounts (gross)	8J1	0 0 K	0%	0 0 K
1 year at most	8J2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8J3	0 0 K	0%	0 0 K
More than 5 years	8J4	0 0 K	0%	0 0 K
Groups and associates (gross)	VI1	0 0 K	0%	0 0 K
1 year at most	VI2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	VI3	0 0 K	0%	0 0 K
More than 5 years	V14	0 0 K	0%	0 0 K
Other liabilities (gross)	8K1	262 0 K	-99.6%	58,749 59 K
1 year at most	8K2	262 0 K	-99.6%	58,749 59 K
More than 1 year and 5 years at most	8K3	0 0 K	0%	0 0 K
Debt representative of borrowed securities (gross)	SZ1	0 0 K	0%	0 0 K
1 year at most	SZ2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	SZ3	0 0 K	0%	0 0 K
Products in advance (gross)	8L1	0 0 K	0%	0 0 K
1 year at most	8L2	0 0 K	0%	0 0 K
More than 1 year and 5 years at most	8L3	0 0 K	0%	0 0 K

References

		31/12/2013	Variation	31/12/2012
Loans made during the period	VJ	0 0 K	0%	0 0 K
Debt repaid during the period	VK	0 0 K	0%	0 0 K

Table allocation results and other information

Dividends distributed

			31/12/2013	Variation	31/12/2012
Dividends	ZE		0 0 K	0%	0 0 K

Commitments

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

Other charges Externes

		31/12/2013	Variation	31/12/2012
Subcontracting	YT	0 0 K	0%	0 0 K
Rentals, rental charges and condominiums	XQ	0 0 K	0%	0 0 K
Staff outside the company	YU	0 0 K	0%	0 0 K
Remuneration intermediaries and fees (excluding fees)	SS	0 0 K	0%	0 0 K
Fees, commissions and brokerage	YV	0 0 K	0%	0 0 K
Other accounts	ST	0 0 K	0%	0 0 K
Total Other purchases and external	ZJ	0 0 K	0%	0 0 K

Taxes and Fees

		31/12/2013	Variation	31/12/2012
Business tax	YW	0 0 K	0%	0 0 K
Other taxes and payments assimilated	9Z	0 0 K	0%	0 0 K
Total taxes and fees	YX	0 0 K	0%	0 0 K

VAT

		31/12/2013	Variation	31/12/2012
Amount VAT collected	YY	0 0 K	0%	0 0 K
Total VAT on goods and services	YZ	0 0 K	0%	0 0 K

Average number of employees

		31/12/2013	Variation	31/12/2012
Average number of employees	YP	0 0 K	0%	0 0 K

Groups and Shareholders

		31/12/2013	Variation	31/12/2012
Groups and Shareholders	ZR	0 0 K	-	- -

Ratios

Synthetic financial performance indicators

31/12/2013

31/12/2012

Score

Situation

Score

Situation

Score

Situation

Hide AFDCC 2

-3.67

Failure

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

0.23

6.91

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

-0.01

Bankruptcy

1.40

Bankruptcy

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

	31/12/2013	Variation	31/12/2012	Sector Average 2013		Sector Median 2013
Fixed Asset Financing	0.52	-65.3%	1.50	16.86	-96.9%	2.02	-74.3%
Global Debt	135 days	-1.5%	137 days	2,842.51 days	-95.3%	132 days	2.3%
Working Capital Fund overall net	-57 days	-311.1%	27 days	340.31 days	-116.7%	41 days	-239.0%
Financial independence	14.55 %	-	-	-288,419.26 %	100.0%	58.75 %	-75.2%
Solvability	0.37 %	-98.9%	32.44 %	-23.49 %	101.6%	22.01 %	-98.3%
Capacity debt futures	14.55 %	-	-	2,702,986.69 %	-100.0%	429.96 %	-96.6%
Coverage of current assets by net working capital overall	-73.97 %	-543.2%	16.69 %	-13.21 %	-460.0%	34.47 %	-314.6%
General Liquidity	0.22	-31.3%	0.32	0.54	-59.3%	0.22	0%
Restricted Liquidity	0.23	-64.1%	0.64	1.62	-85.8%	0.70	-67.1%

Management or rotation

	31/12/2013	Variation	31/12/2012	Sector Median 2013
Need background in operating working capital	-54 days	-217.6%	-17 days	9 days	-700.0%
Treasury	-3 days	-106.8%	44 days	3 days	-200.0%
Inventory turnover of goods	103 days	-35.2%	159 days	89 days	15.7%
Average length of credit granted to customers	23 days	-46.5%	43 days	6 days	283.3%
Average length of credit obtained suppliers	85 days	-10.5%	95 days	40 days	112.5%
Inventory turnover of raw materials in industrial enterprises	0 days	0%	0 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	-	-	-	1,253 days	-
Rotation tangible assets	5,796.62 %	-36.5%	9,129.84 %	2,058.11 %	181.6%

Profitability of the business

	31/12/2013	Variation	31/12/2012	Sector Median 2013
Margin trading	54.42 %	4.6%	52.03 %	34.68 %	56.9%
Profitability of the business	-23.53 %	-28.5%	-18.31 %	1.39 %	-1792.8%
Net profit	-19.71 %	-49.1%	-13.22 %	0.44 %	-4579.5%
Growth rate of turnover (excluding VAT)	-8.00 %	-	-	0.00 %	0%
Rates integration	-5.06 %	-1846.2%	-0.26 %	10.93 %	-146.3%
Rate leasing furniture	0.00 %	0%	0.00 %	0.00 %	0%
Work Factor	-375.09 %	94.6%	-6,955.42 %	19.34 %	-2039.5%
Weight interests	0.05 %	0%	0.00 %	0.04 %	25.0%

Return on capital

	31/12/2013	Variation	31/12/2012	Sector Median 2013
Cash flow from the overall profitability	-7.79 %	11.0%	-8.75 %	1.75 %	-545.1%
Rates of economic profitability	-2,162.00 %	-2062.0%	-100.00 %	12.00 %	-18116.7%
Financial profitability	2,811.00 %	-99.3%	403,368.00 %	78.59 %	3476.8%
Return on investment	-1,805.89 %	-2394.0%	-72.41 %	8.68 %	-20905.2%

Management intermediate balances

	31/12/2013	Variation		31/12/2012	Sector Median 2013
Turnover	2,032,410 2,032 K	-8.0%		2,209,056 2,209 K	97,228 97 K	1990.4%
	31/12/2013	Variation	31/12/2012		Sector Median 2013
Sales of goods	2,032,410 2,032 K	-8.0%	2,209,056 2,209 K			-
- Purchase of goods	722,944 723 K	-26.4%	982,585 983 K			-
+/- Stock of goods variation	203,406 203 K	164.1%	77,021 77 K			-
Trading margin	1,106,060 € 1,106 K €	-3.8%	1,149,450 € 1,149 K €		25,358 € 25 K €	4261.8%
	54.42 % CA 54.42 % CA	4.6%	52.03 % CA 52.03 % CA		36.49 % CA 36.49 % CA	49.1%

31/12/2013

Variation

31/12/2012

Sector Average 2013

Sector Median 2013

Sale of goods produced

0 0 K

+/- Stocked production

0 0 K

+ Self-constructed assets

0 0 K

Period production

0 € 0 K €

554,058.25 € 554.06 K €

2,217 € 2 K €

0.00 % CA 0.00 % CA

58.57 % CA 58.57 % CA

7.23 % CA 7.23 % CA

31/12/2013

Variation

31/12/2012

Sector Average 2013

Sector Median 2013

Trading margin

1,106,060 1,106 K

-3.8%

1,149,450 1,149 K

1,177,290.32 1,177.29 K

-6.1%

25,358 25 K

4261.8%

+ Period Production

0 0 K

554,058.25 554.06 K

2,217 2 K

- Purchase of raw materials

18,863 19 K

214.3%

6,001 6 K

+/- Change in stocks of raw materiels

0 0 K

- Other external purchases and charges

1,190,003 1,190 K

3.6%

1,149,124 1,149 K

Added value

-102,806 € -103 K €

-1711.6%

-5,675 € -6 K €

407,085.83 € 407.09 K €

-125.3%

10,784 € 11 K €

-1053.3%

-5.06 % CA -5.06 % CA

-1846.2%

-0.26 % CA -0.26 % CA

-254.40 % CA -254.40 % CA

98.0%

10.93 % CA 10.93 % CA

-146.3%

31/12/2013

Variation

31/12/2012

Sector Average 2013

Sector Median 2013

Added value

-102,806 € -103 K €

-1711.6%

-5,675 € -6 K €

407,085.83 € 407.09 K €

-125.3%

10,784 € 11 K €

-1053.3%

+ Operating grants

22,500 23 K

200.0%

7,500 8 K

- Tax, duty and similar payments

12,324 12 K

6.5%

11,568 12 K

- Personal charges

385,615 386 K

-2.3%

394,720 395 K

Gross operating surplus

-478,245 € -478 K €

-18.2%

-404,463 € -404 K €

-54,701.96 € -54.70 K €

-774.3%

794 € 1 K €

-60332.4%

-23.53 % CA -23.53 % CA

-28.5%

-18.31 % CA -18.31 % CA

-306.23 % CA -306.23 % CA

92.3%

1.39 % CA 1.39 % CA

-1792.8%

31/12/2013

Variation

31/12/2012

Sector Average 2013

Sector Median 2013

Gross operating surplus

-478,245 € -478 K €

-18.2%

-404,463 € -404 K €

-54,701.96 € -54.70 K €

-774.3%

794 € 1 K €

-60332.4%

+ Release of reserves and provisions

213,133 213 K

0.9%

211,204 211 K

+ Other operating income

1,881 2 K

0 0 K

- Depreciation/ Amortisation

242,155 242 K

145.1%

98,814 99 K

- Other charges

196 0 K

168.5%

73 0 K

Operating result

-505,582 € -506 K €

-73.1%

-292,146 € -292 K €

-98,691.18 € -98.69 K €

-412.3%

20 € 0 K €

-2528010.0%

-24.88 % CA -24.88 % CA

-88.2%

-13.22 % CA -13.22 % CA

-339.69 % CA -339.69 % CA

92.7%

0.38 % CA 0.38 % CA

-6647.4%

31/12/2013

Variation

31/12/2012

Sector Average 2013

Sector Median 2013

Operating result

-505,582 € -506 K €

-73.1%

-292,146 € -292 K €

-98,691.18 € -98.69 K €

-412.3%

20 € 0 K €

-2528010.0%

+/- Result of joint-venture transferred from/to other partners

0 0 K

+ Financial income

0 0 K

66 0 K

- Financial charges

1,004 1 K

0 0 K

Pre-tax result

-506,586 € -507 K €

-73.4%

-292,080 € -292 K €

-252,823.63 € -252.82 K €

-100.4%

-1 € 0 K €

-50658500.0%

-24.93 % CA -24.93 % CA

-88.6%

-13.22 % CA -13.22 % CA

-341.10 % CA -341.10 % CA

92.7%

0.27 % CA 0.27 % CA

-9333.3%

31/12/2013

Variation

31/12/2012

Sector Average 2013

Sector Median 2013

Extraordinary income

106,329 106 K

817815.4%

13 0 K

53,833.99 53.83 K

97.5%

0 0 K

- Extraordinary charges

300 0 K

1664.7%

17 0 K

Extraordinary result

106,029 € 106 K €

2650825.0%

-4 € 0 K €

-80,830.91 € -80.83 K €

231.2%

0 € 0 K €

5.22 % CA 5.22 % CA

0.00 % CA 0.00 % CA

-117.89 % CA -117.89 % CA

104.4%

0.00 % CA 0.00 % CA

	31/12/2013	Variation	31/12/2012	Sector Average 2013		Sector Median 2013
Pre-tax result	-506,586 € -507 K €	-73.4%	-292,080 € -292 K €	-252,823.63 € -252.82 K €	-100.4%	-1 € 0 K €	-50658500.0%
Extraordinary result	106,029 € 106 K €	2650825.0%	-4 € 0 K €	-80,830.91 € -80.83 K €	231.2%	0 € 0 K €	0%
- Employee profit sharing	0 0 K	0%	0 0 K		-		-
- Tax on profits	0 0 K	0%	0 0 K		-		-
Net result	-400,557 € -401 K €	-37.1%	-292,084 € -292 K €	-364,435.80 € -364.44 K €	-9.9%	252 € 0 K €	-159051.2%
	-19.71 % CA -19.71 % CA	-49.1%	-13.22 % CA -13.22 % CA	-436.19 % CA -436.19 % CA	95.5%	0.47 % CA 0.47 % CA	-4293.6%

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 4791A - Retail sale via home-shopping by general catalogue.

Key Performance Indicators

Net Turnover

Net Turnover

	31/12/2013	31/12/2012
Company Result	2,032,410 €	2,209,056 €
Sector Average	4,534,532 €	3,046,240 €

Net Profit

Net Profit

	31/12/2013	31/12/2012
Company Result	-400,557 €	-292,083 €
Sector Average	-364,514 €	-216,439 €

Net Export Turnover

Net Export Turnover

	31/12/2013	31/12/2012
Company Result	80,298 €	82,107 €
Sector Average	413,205 €	477,961 €

Account Total

Account Total

	31/12/2013	31/12/2012
Company Result	764,138 €	1,243,560 €
Sector Average	1,961,267 €	1,354,558 €

Shareholders Equity

Shareholders Equity

	31/12/2013	31/12/2012
Company Result	2,811 €	403,368 €
Sector Average	315,839 €	328,538 €

Liabilities

Liabilities

	31/12/2013	31/12/2012
Company Result	761,327 €	840,192 €
Sector Average	1,566,762 €	955,878 €

Need background in operating working capital

	31/12/2013	31/12/2012
Company Result	-54 €	-17 €
Sector Average	-278 €	70 €

Gross operating surplus (EBE)

Gross operating surplus (EBE)

	31/12/2013	31/12/2012
Company Result	-478,245 €	-404,463 €
Sector Average	-54,702 €	-86,437 €

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.91
UK Pound	1	INR 90.31
Euro	1	INR 80.17
Euro	1	INR 79.89

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

INFORMATION DETAILS

Analysis Done by :	NIS

Report Prepared by :	NIT

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)

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.

MIRA INFORM REPORT

COMPANY NAME

Company Summary

Key Financials

Directors

Judgment and Preferential

Establishment Details

Other Establishment(s)

Workforces

Commentary

Industry comparison

Collective procedures

Rncs

Bodacc

Other sources

Shareholders

Linkages

Shareholder(s)

Director(s)

Statutory Auditor

Previous Directors

Status history

Recent publications in Gazettes

Company events history

Establishment events history

Synthesized Accounts

Unit