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IPOTEZE DE PREVIZIUNE

Ipoteze de previzionare a Programului de Rambursare a Creditului

Valoarea creditului 7,500,000


Durata creditului (ani) 3
Perioada de gratie (luni) 6
Rata dobnzii 15%

Ipoteze de Calcul a Amortizrii Previzionate a Mijloacelor Fixe

Perioada Intrri mijl.fixe


Mijloace fixe aduse ca aport la capital 1 10,000,000
1
2
3 15,000
4
5 7,500,000
N 6 52,000
7
8
9
10
11
12
TOTAL 17,567,000
N+1
N+2
N+3 3,300,000
N+4 2,750,000

Ipoteze de Previziune a Contului de Rezultat (Profit i pierdere)

A. La nivel de luna - pentru anul N

EXPLICATII 1 2
valori nominale
Venituri din vanzari de marfuri 1,000,000 25
Venituri din vanzarea produselor i serviciilor 600,000 5
Alte venituri din exploatare 100,000 10
Adaos comercial practicat(%) 60 60
Fond de salarii direct productive 150,000 2
Reclama si publicitate 50,000 10
Taxe si impozite indirecte 500 0
Venituri financiare 8,000 10,000
Alte cheltuieli financiare n afara dobanzilor la
credit 15,000 10,000
Cota de impozit pe profit 16% 16%
Coeficient de repartizare dividende 0%
Materi prime, materiale consumabile, obiecte de
inventar (%CA) 25
Energie electrica (%CA) 12

Costul serviciilor de reparatii si intretinere(%CA) 8


Costul altor servicii executate de terti(%CA) 5
Fond salarii(lunar) personal indirect productiv -
fix pe intreaga perioada 40,000
Taxe postale si de telecomunicatii(lunare)+B73 -
fixe pe intreaga perioada 5,000
Costul lunar al serviciilor bancare 1,500

B. La nivel de an - pentru anii N+1 - N+4


EXPLICATII N+1 N+2
Venituri din vanzari de marfuri 5 5
Venituri din vanzarea produselor i serviciilor 2 2
Alte venituri din exploatare 1 1
Adaos comercial practicat(%) 60 60
Cheltuieli salariale direct productive 0 0
Cheltuieli salariale- personal indirect productiv 0 0
Reclama si publicitate 0 0
Taxe postale si de telecomunicatii 0 0
Servicii bancare 0 0
Taxe si impozite indirecte 0 0
Venituri financiare 10,000 30,000
Alte cheltuieli financiare n afara dobanzilor la
credit 1,500 25,000
Cota de impozit pe profit 16% 16%
Coeficient de repartizare a dividendelor 25% 75%

Ipoteze de Previziune a Bilanului

A. La nivel de luna - pentru anul N


EXPLICATII 1 2
Aport la capitalul social 12,000 0
Vanzari pe credit (% CA) 25%
Stocuri la 01.01.N (aport la cap. social) 50,000
Stocuri la 31.01.N 350,000 0.22
Clienti 250,000 0.63
Alte active curente 56,000 0.04
Numerar utilizabil la 01.01.N (aport la cap.
social) 100,000
Achiziii pe credit (% Cheltuielile materiale) 25%
Furnizori si conturi asimilate la 31.01.N 100,000 1.8018018018
Alte pasive curente 85,000 0.053125

B. La nivel de an - pentru anii N+1 - N+4


EXPLICATII N+1 N+2
Vanzari pe credit (% CA) 15% 20%
Achiziii pe credit (% Cheltuielile materiale) 15% 25%
Aport suplimentar la capitalul social 0 0
Retragere de capital social 0 250,000

Ipoteze de Calcul a Indicatorilor de Evaluare a Afacerii

Rata de actualizare (%) 19


Valoarea reziduala n Anul N+9 8,000,000
Final introducere Ipoteze de iniializare a Aplicaiei
PREVIZIUNE

Creditului

Detalii

Detalii
Amortizarea Amortizare Amortizare
intrarilor totala cumulat
2,000 2,000 2,000
2,000 2,000
2,000 4,000
250 2,250 6,250
2,250 8,500
50,000 52,250 60,750
1,000 53,250 114,000
53,250 167,250
53,250 220,500
53,250 273,750
53,250 327,000
53,250 380,250
53,250 433,500
53,250 435,500 433,500
435,500 869,000
435,500 1,304,500
25,000 460,500 1,765,000
32,000 492,500 2,257,500

Detalii

ANUL N
3 4 5 6 7 8 9 10

0 0 10 0 0 0 0 10
3 4 0 10 4 0 12 0
0 0 0 0 0 10 0 0
60 50 60 60 60 60 100 150
0 0 0 2 0 0 0 2
0 0 0 10 0 0 0 0
1,000 0 0 2,000 0 0 0 0
2,000 0 0 0 1,500 0 0 0

0 0 0 25,000 0 0 0 0
16% 16% 16% 16% 16% 16% 16% 16%
Detalii
N+3 N+4
9 5
2 2
1 1
60 60
0 0
0 0
0 0
0 0
0 0
0 0
50,000 0

12,000 0
16% 16%
0% 100%

Detalii
3 4 5 6 7 8 9 10
25,000 0 0 0 0 0 0 0
Detalii
N+3 N+4
20% 25%
30% 35%
0 0
0 0

Detalii
Aplicaiei
11 12

41 0
0 0
0 0
100 100
0 0
0 15
0 0
0 0

0 0
16% 16%
15%
11 12
0 0
B94: Se vor introduce nominal

B95: Se vor introduce nominal

B96: Se vor introduce nominal

C88: Valoare nominala

C89: Valoare nominala

C90: Valoare nominala

C91: Exprimare procentuala

C92: Valoare nominala

C93: Valoare nominala

C99: Pondere din Cifra de afaceri

C100: Pondere din Cifra de afaceri

C101: Pondere din Cifra de afaceri

C102: Pondere din Cifra de afaceri

C103: Se vor introduce nominal

C104: Se vor introduce nominal

C105: Se vor introduce nominal

C109: Crestere procentuala fata de perioada anterioara

C110: Crestere procentuala fata de perioada anterioara

C111: Crestere procentuala fata de perioada anterioara

C112: Exprimare procentuala

C114: Crestere procentuala fata de perioada anterioara

C115: Crestere procentuala fata de perioada anterioara

C116: Crestere procentuala fata de perioada anterioara

C117: Crestere procentuala fata de perioada anterioara

C118: Crestere procentuala fata de perioada anterioara

C119: Crestere procentuala fata de perioada anterioara

C120: Se vor introduce valori nominale

C121: Se vor introduce valori nominale

C149: Aport sub forma de capital de lucru la capitalul social (se vor introduce valori nominale)

C150: Valoare preconizata stocuri la sfarsitul primei luni (se vor introduce valori nominale)

C151: Creante- clienti in prima luna (se vor introduce valori nominale)

C152: Valoare alte active curente in prima luna (se vor introduce valori nominale)
C153: Dispopnibil la inceputul perioadei (01.01.N; se vor introduce valori nominale)

C155: Datorii -furnizori in prima luna (se vor introduce valori nominale)

C156: Alte pasive curente in prima luna (se vor introduce valori nominale)

C163: Viteza de rotatie prin cifra de afaceri

C164: viteza de rotatie prin vanzari pe credit

C165: viteza de rotatie prin cifra de afaceri

C169: proportie din cumparari pe credit

C170: viteza de rotatie prin cifra de afaceri

D88: Crestere procentuala lunara

D89: Crestere procentuala lunara

D90: Crestere procentuala lunara

D92: Crestere procentuala lunara

D93: Crestere procentuala lunara

O147: TOTAL

O148: TOTAL
PLAN DE RAMBURSARE

Plan de Rambursare Detaliat


Anul Luna Anuitate Dobanda Rambursare Sold credit INTRARI
1 93,750 93,750 0 7,500,000 7,500,000
2 93,750 93,750 0 7,500,000
3 93,750 93,750 0 7,500,000
4 93,750 93,750 0 7,500,000
5 93,750 93,750 0 7,500,000
N 6 93,750 93,750 0 7,500,000
7 343,750 93,750 250,000 7,250,000
8 340,625 90,625 250,000 7,000,000
9 337,500 87,500 250,000 6,750,000
10 334,375 84,375 250,000 6,500,000
11 331,250 81,250 250,000 6,250,000
12 328,125 78,125 250,000 6,000,000
1 325,000 75,000 250,000 5,750,000
2 321,875 71,875 250,000 5,500,000
3 318,750 68,750 250,000 5,250,000
4 315,625 65,625 250,000 5,000,000
5 312,500 62,500 250,000 4,750,000
N+1 6 309,375 59,375 250,000 4,500,000
7 306,250 56,250 250,000 4,250,000
8 303,125 53,125 250,000 4,000,000
9 300,000 50,000 250,000 3,750,000
10 296,875 46,875 250,000 3,500,000
11 293,750 43,750 250,000 3,250,000
12 290,625 40,625 250,000 3,000,000
1 287,500 37,500 250,000 2,750,000
2 284,375 34,375 250,000 2,500,000
3 281,250 31,250 250,000 2,250,000
4 278,125 28,125 250,000 2,000,000
5 275,000 25,000 250,000 1,750,000
N+2 6 271,875 21,875 250,000 1,500,000
7 268,750 18,750 250,000 1,250,000
8 265,625 15,625 250,000 1,000,000
9 262,500 12,500 250,000 750,000
10 259,375 9,375 250,000 500,000
11 256,250 6,250 250,000 250,000
12 253,125 3,125 250,000 0
1 0 0 0 0
2 0 0 0 0
3 0 0 0 0
4 0 0 0 0
5 0 0 0 0
N+3 6 0 0 0 0
7 0 0 0 0
8 0 0 0 0
9 0 0 0 0
10 0 0 0 0
11 0 0 0 0
12 0 0 0 0
1 0 0 0 0
2 0 0 0 0
3 0 0 0 0
4 0 0 0 0
5 0 0 0 0
N+4 6 0 0 0 0
7 0 0 0 0
8 0 0 0 0
9 0 0 0 0
10 0 0 0 0
11 0 0 0 0
12 0 0 0 0
9,515,625 2,015,625 7,500,000

SINTEZA PLAN RAMBURSARE


N N+1 N+2 N+3 N+4 Total
Rambursare 1,500,000 3,000,000 3,000,000 0 0 7,500,000
Dobanda 1,078,125 693,750 243,750 0 0 2,015,625
Anuitate 2,578,125 3,693,750 3,243,750 0 0 9,515,625
Contul de Rezulta

EXPLICATII LUNA 1 2 3
1. Vanzari de marfuri 1,000,000 1,250,000 1,250,000
Venituri din vnzarea produse sau
2. servicii 600,000 630,000 648,900
3. Cifra de afaceri (1+2) 1,600,000 1,880,000 1,898,900
4 Alte venituri din exploatare 100,000 110,000 110,000
5 Total venituri din exploatare (3+4) 1,700,000 1,990,000 2,008,900
6 Costul marfurilor vandute 625,000 781,250 781,250
Cheltuieli cu materiile prime, materiale,
7 energie, combustibil 222,000 233,100 240,093
8 Lucrari si servicii executate de terti 264,500 305,900 308,357
9 Impozite si varsaminte asimilate 500 0 1,000

10 Cheltuieli cu remuneratiile personalului 190,000 193,000 193,000


Cheltuielile societatii cu contributiile
11 sociale 72,200 73,340 73,340
12 Total cheltuieli cu personalul (10+11) 262,200 266,340 266,340
Cheltuieli cu amortizari si provizioane
13 din exploatare 2,000 2,000 2,250
Total cheltuieli din exploatare
14 (6+7+8+9+12+13) 1,376,200 1,588,590 1,599,290
15 Rezultat din exploatare (5-14) 323,800 401,410 409,610
16 Venituri financiare 8,000 10,000 2,000
17 Cheltuieli financiare 108,750 103,750 93,750
18 Rezultat financiar (16-17) -100,750 -93,750 -91,750

19 Rezultat curent al exercitiului (15+18) 223,050 307,660 317,860


20 Venituri totale (5+16) 1,708,000 2,000,000 2,010,900
21 Cheltuieli totale (14+17) 1,484,950 1,692,340 1,693,040
22 Rezultatul brut (15+18) 223,050 307,660 317,860
23 Impozit pe profit 35,688 49,226 50,858
24 Rezultat net (22-23) 187,362 258,434 267,002

repartizari dividende 0 0 0

Contul de Rezultat Anual pentru Perioada N - N+4


EXPLICATII N N+1 N+2

1. Vanzari de marfuri 17402750 18,272,888 19,186,532


Venituri din vnzarea produse sau
2. servicii 8,973,742 9,153,217 9,336,281
3. Cifra de afaceri (1+2) 26,376,492 27,426,104 28,522,813
4 Alte venituri din exploatare 1,365,000 1,378,650 1,392,437
5 Total venituri din exploatare (3+4) 27,741,492 28,804,754 29,915,250
6 Costul marfurilor vandute 9,883,458 11,420,555 11,991,582
Cheltuieli cu materiile prime, materiale,
7 energie, combustibil 3,320,285 3,386,690 3,454,424
8 Lucrari si servicii executate de terti 4,209,519 4,345,969 4,488,541
9 Impozite si varsaminte asimilate 3,500 3,500 3,500

10 Cheltuieli cu remuneratiile personalului 2,343,784 2,343,784 2,343,784


Cheltuielile societatii cu contributiile
11 sociale 890,638 890,638 890,638
12 Total cheltuieli cu personalul (10+11) 3,234,421 3,234,421 3,234,421
Cheltuieli cu amortizari si provizioane
13 din exploatare 433,500 435,500 435,500
Total cheltuieli din exploatare
14 (6+7+8+9+12+13) 21,084,683 22,826,635 23,607,969
15 Rezultat din exploatare (5-14) 6,656,809 5,978,120 6,307,281
16 Venituri financiare 21,500 10,000 30,000
17 Cheltuieli financiare 1,128,125 695,250 268,750
18 Rezultat financiar (16-17) -1,106,625 -685,250 -238,750

19 Rezultat curent al exercitiului (15+18) 5,550,184 5,292,870 6,068,531


20 Venituri totale (5+16) 27,762,992 28,814,754 29,945,250
21 Cheltuieli totale (14+17) 22,212,808 23,521,885 23,876,719
22 Rezultatul brut (15+18) 5,550,184 5,292,870 6,068,531
23 Impozit pe profit 888,029 846,859 970,965
24 Rezultat net (22-23) 4,662,154 4,446,010 5,097,566
CONT DE REZULTAT

ontul de Rezultat Lunar Pentru anul N

4 5 6 7 8 9 10 11
1,250,000 1,375,000 1,375,000 1,375,000 1,375,000 1,375,000 1,512,500 2,132,625

674,856 674,856 742,342 772,035 772,035 864,679 864,679 864,679


1,924,856 2,049,856 2,117,342 2,147,035 2,147,035 2,239,679 2,377,179 2,997,304
110,000 110,000 110,000 110,000 121,000 121,000 121,000 121,000
2,034,856 2,159,856 2,227,342 2,257,035 2,268,035 2,360,679 2,498,179 3,118,304
833,333 859,375 859,375 859,375 859,375 687,500 605,000 1,066,313

249,697 249,697 274,666 285,653 285,653 319,931 319,931 319,931


311,731 327,981 342,254 346,115 346,115 358,158 376,033 456,650
0 0 2,000 0 0 0 0 0

193,000 193,000 196,060 196,060 196,060 196,060 199,181 199,181

73,340 73,340 74,503 74,503 74,503 74,503 75,689 75,689


266,340 266,340 270,563 270,563 270,563 270,563 274,870 274,870

2,250 52,250 53,250 53,250 53,250 53,250 53,250 53,250

1,663,351 1,755,643 1,802,109 1,814,955 1,814,955 1,689,403 1,629,085 2,171,014


371,505 404,213 425,233 442,080 453,080 671,277 869,095 947,291
0 0 0 1,500 0 0 0 0
93,750 93,750 118,750 93,750 90,625 87,500 84,375 81,250
-93,750 -93,750 -118,750 -92,250 -90,625 -87,500 -84,375 -81,250

277,755 310,463 306,483 349,830 362,455 583,777 784,720 866,041


2,034,856 2,159,856 2,227,342 2,258,535 2,268,035 2,360,679 2,498,179 3,118,304
1,757,101 1,849,393 1,920,859 1,908,705 1,905,580 1,776,903 1,713,460 2,252,264
277,755 310,463 306,483 349,830 362,455 583,777 784,720 866,041
44,441 49,674 49,037 55,973 57,993 93,404 125,555 138,567
233,314 260,789 257,446 293,857 304,462 490,373 659,165 727,474

0 0 0 0 0 0 0 0

ada N - N+4
N+3 N+4

20,913,320 21,958,986

9,523,007 9,713,467
30,436,327 31,672,453
1,406,361 1,420,424
31,842,688 33,092,877
13,070,825 13,724,366

3,523,513 3,593,983
4,737,297 4,897,994
3,500 3,500

2,343,784 2,343,784

890,638 890,638
3,234,421 3,234,421

460,500 492,500

25,030,056 25,946,764
6,812,631 7,146,113
50,000 0
12,000 0
38,000 0

6,850,631 7,146,113
31,892,688 33,092,877
25,042,056 25,946,764
6,850,631 7,146,113
1,096,101 1,143,378
5,754,530 6,002,735
12 TOTAL
2,132,625 17,402,750

864,679 8,973,742
2,997,304 26,376,492
121,000 1,365,000
3,118,304 27,741,492
1,066,313 9,883,458

319,931 3,320,285
465,725 4,209,519
0 3,500

199,181 2,343,784

75,689 890,638
274,870 3,234,421

53,250 433,500

2,180,089 21,084,683
938,216 6,656,809
0 21,500
78,125 1,128,125
-78,125 -1,106,625

860,091 5,550,184
3,118,304 27,762,992
2,258,214 22,212,808
860,091 5,550,184
137,615 888,029
722,476 4,662,154

699,323 699,323
COSTURILE DE EXPLOATARE

Costuri de Exploatare Lunare pentru A

DETALIERE 1 2 3 4
I. Costuri de productie (Directe) 1,054,000 1,225,490 1,232,483 1,294,170
Costul marfurilor vandute 625,000 781,250 781,250 833,333
Materii prime, materiale
consumabile, obiecte de inventar 150,000 157,500 162,225 168,714
Energie electrica si termica 72,000 75,600 77,868 80,983
Salarii direct productive 150,000 153,000 153,000 153,000
Asigurari sociale 57,000 58,140 58,140 58,140
II. Costuri indirecte variabile 258,000 299,400 301,857 305,231
Servicii de reparatii si intretinere 128,000 150,400 151,912 153,988
Alte servicii executate de terti 80,000 94,000 94,945 96,243
Reclama si publicitate 50,000 55,000 55,000 55,000
III. Costuri indirecte fixe 64,200 63,700 64,950 63,950
Amortizare indirect productiva 2,000 2,000 2,250 2,250
Costuri salariale personal indirect
productiv 55,200 55,200 55,200 55,200
Taxe postale si de telecomunicatii 5,000 5,000 5,000 5,000
Servicii bancare 1,500 1,500 1,500 1,500
Taxe si impozite indirecte 500 0 1,000 0
TOTAL CHELTUIELI DE
EXPLOATARE(I+II+III) 1,376,200 1,588,590 1,599,290 1,663,351
Costuri de Exploatare Anuale pentru perioada N - N+4

DETALIERE N N+1 N+2 N+3


I. Costuri de productie (Directe) 15,775,764 17,379,266 18,018,028 19,166,359
Costul marfurilor vandute 9,883,458 11,420,555 11,991,582 13,070,825
Materii prime, materiale
consumabile, obiecte de inventar 2,243,436 2,288,304 2,334,070 2,380,752
Energie electrica si termica 1,076,849 1,098,386 1,120,354 1,142,761
Salarii direct productive 1,863,784 1,863,784 1,863,784 1,863,784
Asigurari sociale 708,238 708,238 708,238 708,238
II. Costuri indirecte variabile 4,131,519 4,267,969 4,410,541 4,659,297
Servicii de reparatii si intretinere 2,110,119 2,194,088 2,281,825 2,434,906
Alte servicii executate de terti 1,318,825 1,371,305 1,426,141 1,521,816
Reclama si publicitate 702,575 702,575 702,575 702,575
III. Costuri indirecte fixe 1,177,400 1,179,400 1,179,400 1,204,400
Amortizare indirect productiva 433,500 435,500 435,500 460,500
Costuri salariale personal indirect
productiv 662,400 662,400 662,400 662,400
Taxe postale si de telecomunicatii 60,000 60,000 60,000 60,000
Servicii bancare 18,000 18,000 18,000 18,000
Taxe si impozite indirecte 3,500 3,500 3,500 3,500
TOTAL CHELTUIELI DE
EXPLOATARE(I+II+III) 21,084,683 22,826,635 23,607,969 25,030,056
Verificare 0 0 0 0
DE EXPLOATARE

re Lunare pentru Anul N

5 6 7 8 9 10 11 12 N
1,320,212 1,349,404 1,360,391 1,360,391 1,222,794 1,144,601 1,605,914 1,605,914 15,775,764
859,375 859,375 859,375 859,375 687,500 605,000 1,066,313 1,066,313 9,883,458

168,714 185,585 193,009 193,009 216,170 216,170 216,170 216,170 2,243,436


80,983 89,081 92,644 92,644 103,762 103,762 103,762 103,762 1,076,849
153,000 156,060 156,060 156,060 156,060 159,181 159,181 159,181 1,863,784
58,140 59,303 59,303 59,303 59,303 60,489 60,489 60,489 708,238
321,481 335,754 339,615 339,615 351,658 369,533 450,150 459,225 4,131,519
163,988 169,387 171,763 171,763 179,174 190,174 239,784 239,784 2,110,119
102,493 105,867 107,352 107,352 111,984 118,859 149,865 149,865 1,318,825
55,000 60,500 60,500 60,500 60,500 60,500 60,500 69,575 702,575
113,950 116,950 114,950 114,950 114,950 114,950 114,950 114,950 1,177,400
52,250 53,250 53,250 53,250 53,250 53,250 53,250 53,250 433,500

55,200 55,200 55,200 55,200 55,200 55,200 55,200 55,200 662,400


5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000
1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 18,000
0 2,000 0 0 0 0 0 0 3,500

1,755,643 1,802,109 1,814,955 1,814,955 1,689,403 1,629,085 2,171,014 2,180,089 21,084,683


oada N - N+4

N+4
19,890,370
13,724,366

2,428,367
1,165,616
1,863,784
708,238
4,819,994
2,533,796
1,583,623
702,575
1,236,400
492,500

662,400
60,000
18,000
3,500

25,946,764
0
Situaia Patrimoni

EXPLICATII 1 2 3 4
ACTIVE
Active fixe
Active brute 10,000,000 10,000,000 10,015,000 10,015,000
Amortizari aferente 2,000 4,000 6,250 8,500
ACTIVE FIXE NETE 9,998,000 9,996,000 10,008,750 10,006,500
Active curente
Stocuri 350,000 411,250 415,384 421,062
Creante-clienti 250,000 293,750 296,703 300,759
Alte active curente 56,000 65,800 66,462 67,370
Numerar utilizabil 7,416,050 7,630,785 7,957,300 8,096,596
TOTAL ACTIVE CURENTE 8,072,050 8,401,585 8,735,849 8,885,787
TOTAL ACTIVE 18,070,050 18,397,585 18,744,599 18,892,287

PASIVE
Capital
Capital social 10,162,000 10,162,000 10,187,000 10,187,000
Rezultatul exercitiului 187,362 445,796 712,799 946,113
- Repartizarea profitului
la dividende 0 0 0 0
- Repartizarea profitului la
rezerve 0 0 0 0
Rezerve 0 0 0 0
TOTAL CAPITAL 10,349,362 10,607,796 10,899,799 11,133,113
Datorii pe termen mediu si
lung
Datorii strainatate
Datorii in tara 7,500,000 7,500,000 7,500,000 7,500,000
TOTAL DATORII PE TERMEN
MEDIU SI LUNG 7,500,000 7,500,000 7,500,000 7,500,000
Pasive curente
Furnizori si conturi asimilate 100,000 105,000 108,150 112,476
Impozit pe profit 35,688 84,914 135,771 44,441
Dividende datorate 0 0 0 0
Alte pasive curente 85,000 99,875 100,879 102,258
TOTAL PASIVE CURENTE 220,688 289,789 344,800 259,175
TOTAL PASIVE 18,070,050 18,397,585 18,744,599 18,892,287
Verificare 0 0 0 0
Bilan Previzionat pentru perioada N - N+4
Anul
N N+1 N+2 N+3
ACTIVE
Active fixe
Pozitia 17,567,000 17,567,000 17,567,000 20,867,000
Active brute
Amortizari aferente 433,500 869,000 1,304,500 1,765,000
ACTIVE FIXE NETE 17,133,500 16,698,000 16,262,500 19,102,000
Active curente
Stocuri 655,660 499,955 519,947 554,829
Creante-clienti 468,329 214,266 297,113 317,045
Alte active curente 104,906 959,914 998,298 1,065,271
Numerar utilizabil 3,191,841 3,633,116 4,752,732 3,791,602
TOTAL ACTIVE CURENTE 4,420,736 5,307,251 6,568,090 5,728,747
TOTAL ACTIVE 21,554,236 22,005,251 22,830,590 24,830,747

PASIVE
Capital
Capital social 10,187,000 10,187,000 9,937,000 9,937,000
Rezultatul exercitiului 4,662,154 4,446,010 5,097,566 5,754,530
- Repartizarea profitului
la dividende 699,323 1,111,503 3,823,175 0
- Repartizarea profitului la
rezerve/ acop. pierd. ant. 3,962,831 3,334,508 1,274,392 5,754,530
Rezerve 3,962,831 7,297,339 8,571,731 14,326,261
TOTAL CAPITAL 14,149,831 17,484,339 18,508,731 24,263,261
Datorii pe termen mediu si
lung
Datorii strainatate 0 0 0 0
Datorii in tara 6,000,000 3,000,000 0 0
TOTAL DATORII PE TERMEN
MEDIU SI LUNG 6,000,000 3,000,000 0 0
Pasive curente
Furnizori si conturi asimilate 144,113 76,277 129,671 158,717
Impozit pe profit 401,736 211,715 242,741 274,025
Dividende datorate 699,323 1,111,503 3,823,175 0
Alte pasive curente 159,232 121,418 126,273 134,744
TOTAL PASIVE CURENTE 1,404,404 1,520,912 4,321,859 567,486
TOTAL PASIVE 21,554,236 22,005,251 22,830,590 24,830,747
Verificare 0 0 0 0
BILAN PREVIZIONAT

uaia Patrimonial Lunar pentru Anul N

5 6 7 8 9 10

17,515,000 17,567,000 17,567,000 17,567,000 17,567,000 17,567,000


60,750 114,000 167,250 220,500 273,750 327,000
17,454,250 17,453,000 17,399,750 17,346,500 17,293,250 17,240,000

448,406 463,168 469,664 469,664 489,930 520,008


320,290 330,835 335,474 335,474 349,950 371,434
71,745 74,107 75,146 75,146 78,389 83,201
914,700 1,209,597 1,213,877 1,379,581 1,748,987 2,080,516
1,755,141 2,077,707 2,094,161 2,259,866 2,667,255 3,055,160
19,209,391 19,530,707 19,493,911 19,606,366 19,960,505 20,295,160

10,187,000 10,187,000 10,187,000 10,187,000 10,187,000 10,187,000


1,206,902 1,464,347 1,758,204 2,062,666 2,553,039 3,212,204

0 0 0 0 0 0

0 0 0 0 0 0
0 0 0 0 0 0
11,393,902 11,651,347 11,945,204 12,249,666 12,740,039 13,399,204

7,500,000 7,500,000 7,250,000 7,000,000 6,750,000 6,500,000

7,500,000 7,500,000 7,250,000 7,000,000 6,750,000 6,500,000

112,476 123,724 128,673 128,673 144,113 144,113


94,115 143,152 55,973 113,966 207,370 125,555
0 0 0 0 0 0
108,899 112,484 114,061 114,061 118,983 126,288
315,489 379,359 298,707 356,699 470,466 395,956
19,209,391 19,530,707 19,493,911 19,606,366 19,960,505 20,295,160
0 0 0 0 0 0
N+4

23,617,000
2,257,500
21,359,500

577,362
412,402
1,108,536
7,423,130
9,521,430
30,880,930

9,937,000
6,002,735

6,002,735

0
14,326,261
24,263,261

0
0

188,873
285,845
6,002,735
140,217
6,617,669
30,880,930
0
11 12 TOTAL

17,567,000 17,567,000 17,567,000


380,250 433,500 433,500
17,186,750 17,133,500 17,133,500

655,660 655,660 655,660


468,329 468,329 468,329
104,906 104,906 104,906
2,528,500 3,191,841 3,191,841
3,757,395 4,420,736 4,420,736
20,944,145 21,554,236 21,554,236

10,187,000 10,187,000 10,187,000


3,939,678 4,662,154 4,662,154

0 699,323 699,323

0 3,962,831 3,962,831
0 3,962,831 3,962,831
14,126,678 14,149,831 14,149,831

6,250,000 6,000,000 6,000,000

6,250,000 6,000,000 6,000,000

144,113 144,113 144,113


264,122 401,736 401,736
0 699,323 699,323
159,232 159,232 159,232
567,467 1,404,404 1,404,404
20,944,145 21,554,236 21,554,236
0 0 0
FLUX DE NUME

Flux de Numerar Lunar pentru An


EXPLICATII 1 2 3
1) Fluxul de numerar din exploatare -95,200 308,485 408,265
Profitul/pierderea activitii de exploatare 323,800 401,410 409,610
+ Cheltuiala cu amortizarea i provizioanele
n exerciiul curent 2,000 2,000 2,250
- Impozitul pe profit platit 0 0 0
Variaia Necesarului de fond de rulment
(NFR) -421,000 -94,925 -3,595
2) Fluxul de numerar din activitatea de
investiii 0 0 -15,000
- Achiziiile de imobilizri 0 0 15,000
3) Fluxul de numerar din activitatea
financiar 7,411,250 -93,750 -66,750
+ Creterea creditelor pe termen lung i
scurt 7,500,000 0 0
- Rambursarea creditelor pe termen lung i
scurt 0 0 0
+ Creterea capitalului social 12,000 0 25,000
- Pli pentru dividende 0 0 0
+ Venituri financiare ncasate 8,000 10,000 2,000
- Cheltuieli financiare pltite 108,750 103,750 93,750
Cash flow net 7,316,050 214,735 326,515
Lichiditi la inceputul perioadei 100,000 7,416,050 7,630,785
Lichiditi la sfritul perioadei 7,416,050 7,630,785 7,957,300
Flux de Numerar Anual pentru Perioada N - N+4
EXPLICATII N N+1 N+2

1) Fluxul de numerar din exploatare 5,728,466 4,825,848 5,719,868


Profitul/pierderea activitii de exploatare 6,656,809 5,978,120 6,307,281
+ Cheltuiala cu amortizarea i provizioanele
n exerciiul curent 433,500 435,500 435,500
- Impozitul pe profit platit 486,293 1,036,881 939,939
Variaia Necesarului de fond de rulment
(NFR) -875,550 -550,891 -82,974

2) Fluxul de numerar din activitatea de


investiii -7,567,000 0 0
- Achiziiile de imobilizri 7,567,000 0 0

3) Fluxul de numerar din activitatea


financiar 4,930,375 -4,384,573 -4,600,253
+ Creterea creditelor pe termen lung i
scurt 7,500,000 0 0
- Rambursarea creditelor pe termen lung i
scurt 1,500,000 3,000,000 3,000,000
+ Creterea capitalului social 37,000 0 0
- Retragerea capitalului social 0 0 250,000
- Pli pentru dividende 0 699,323 1,111,503
+ Venituri financiare ncasate 21,500 10,000 30,000
- Cheltuieli financiare pltite 1,128,125 695,250 268,750
Cash flow net 3,091,841 441,275 1,119,616
Lichiditi la inceputul perioadei 100,000 3,191,841 3,633,116
Lichiditi la sfritul perioadei 3,191,841 3,633,116 4,752,732
Cash flow net nainte de plata
dividendelor 3,091,841 1,140,598 2,231,118
Serviciul datoriei 2,628,125 3,695,250 3,268,750
FLUX DE NUMERAR

848,570 1,743,271

Lunar pentru Anul N 135771.2

4 5 6 7 8 9
233,046 411,854 465,647 346,530 506,330 706,905
371,505 404,213 425,233 442,080 453,080 671,277

2,250 52,250 53,250 53,250 53,250 53,250


135,771 0 0 143,152 0 0

-4,937 -44,609 -12,836 -5,648 0 -17,622

0 -7,500,000 -52,000 0 0 0
0 7,500,000 52,000 0 0 0

-93,750 -93,750 -118,750 -342,250 -340,625 -337,500

0 0 0 0 0 0

0 0 0 250,000 250,000 250,000


0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 1,500 0 0
93,750 93,750 118,750 93,750 90,625 87,500
139,296 -7,181,896 294,897 4,280 165,705 369,405
7,957,300 8,096,596 914,700 1,209,597 1,213,877 1,379,581
8,096,596 914,700 1,209,597 1,213,877 1,379,581 1,748,987
N - N+4
N+3 N+4

6,124,045 6,381,528
6,812,631 7,146,113

460,500 492,500
1,064,817 1,131,559

-84,270 -125,526

-3,300,000 -2,750,000
3,300,000 2,750,000

-3,785,175 0

0 0

0 0
0 0
0 0
3,823,175 0
50,000 0
12,000 0
-961,130 3,631,528
4,752,732 3,791,602
3,791,602 7,423,130

2,862,045 3,631,528
12,000 0
3,039,332 5,550,184

278923.3067 486293.164561 401736.3

10 11 12 TOTAL
665,905 779,234 991,466 5,728,466
869,095 947,291 938,216 6,656,809

53,250 53,250 53,250 433,500


207,370 0 0 486,293

-49,070 -221,307 0 -875,550

0 0 0 -7,567,000
0 0 0 7,567,000

-334,375 -331,250 -328,125 4,930,375

0 0 0 7,500,000

250,000 250,000 250,000 1,500,000


0 0 0 37,000
0 0 0 0
0 0 0 21,500
84,375 81,250 78,125 1,128,125
331,530 447,984 663,341 3,091,841
1,748,987 2,080,516 2,528,500 100,000
2,080,516 2,528,500 3,191,841 3,191,841
INDICATORI DE ANALIZ A AFACERII

Sinteza Indicatorilor de Analiza a Afacerii pe Perioada Prev

DENUMIRE N N+1 N+2


INDICATORI DE LICHIDITATE
LICHIDITATE GLOBALA 3.15 3.49 1.52
LICHIDITATEA IMEDIATA 2.27 2.39 1.10
INDICATORI DE INDATORARE
RATA DATORIILOR 0.34 0.21 0.19
RATA DE SOLVABILITATE 0.42 0.17 0.00
RATA DE ACOPERIRE A
CAPITALULUI PROPRIU
(GRADUL DE INDATORARE) 0.52 0.26 0.23
RATA DE ACOPERIRE A
SERVICIULUI DATORIILOR 2.20 1.39 1.64
INDICATORI DE GESTIUNE
VITEZA DE ROTATIE A
ACTIVELOR CIRCULANTE PRIN
CIFRA DE AFACERI (zile) 61.17 70.63 84.05
VITEZA DE ROTATIE A
STOCURILOR(zile) 9.07 6.65 6.65
VITEZA DE ROTATIE A
CREANTELOR(zile) 25.92 19.01 19.01
VITEZA DE ROTATIE A
FURNIZORILOR (zile) 63.37 54.80 54.80
INDICATORI DE RENTABILITATE

MARJA PROFITULUI DE
EXPLOATARE (%) 25.24 21.80 22.11
MARJA PROFITULUI NET(%) 17.68 16.21 17.87
RENTABILITATEA CAPITALULUI
PROPRIU (%) 32.95 25.43 27.54
RENTABILITATEA ACTIVELOR
TOTALE (%) 30.98 27.21 27.76
INDICATORI DE LICHIDITATE

LICHIDITATE GLOBALA

Explicaii N N+1 N+2


Active circulante 4,420,736 5,307,251 6,568,090
Obligatii (datorii pe termen scurt) 1,404,404 1,520,912 4,321,859
Lichiditate globala (Lg) 3 3 2

LICHIDITATEA IMEDIATA

Explicaii N N+1 N+2


Disponibilitati 3,191,841 3,633,116 4,752,732
Pasive curente 1,404,404 1,520,912 4,321,859
Lichiditatea imediata 2 2 1

INDATORAREA

RATA DATORIILOR

Explicaii N N+1 N+2


Total datorii 7,404,404 4,520,912 4,321,859
Total active 21,554,236 22,005,251 22,830,590
Rata datoriilor 0.34 0.21 0.19

RATA DE SOLVABILITATE

Explicaii N N+1 N+2


Imprumut pe termen lung 6,000,000 3,000,000 0
Capital propriu 14,149,831 17,484,339 18,508,731
Rata de solvabilitate 0.4240333248 0.1715821219 0

RATA DE ACOPERIRE A CAPITALULUI PROPRIU

Explicaii N N+1 N+2


Total datorii 7,404,404 4,520,912 4,321,859
Capital propriu 14,149,831 17,484,339 18,508,731
Rata de acoperire a capitalului
propriu 0.52 0.26 0.23

RATA DE ACOPERIRE A SERVICIULUI DATORIILOR

Explicaii N N+1 N+2


Profit din activitate dupa
impozitare 4,662,154 4,446,010 5,097,566
Dobanzi 1,128,125 695,250 268,750
TOTAL 5,790,279 5,141,260 5,366,316
Dobanzi 1,128,125 695,250 268,750
Rata de rambursare a
imprumuturilor pe temen lung 1,500,000 3,000,000 3,000,000
TOTAL 2,628,125 3,695,250 3,268,750
Rata de acoperire a datoriilor 2 1 2

INDICATORI DE GESTIUNE

VITEZA DE ROTATIE A ACTIVELOR CIRCULANTE PRIN CIFRA DE AFACERI (RAC)

Explicaii N N+1 N+2


Active circulante 4,420,736 5,307,251 6,568,090
Cifra de afaceri 26,376,492 27,426,104 28,522,813
Numar de zile 365 365 365
RAC 61 71 84

VITEZA DE ROTATIE A STOCURILOR

Explicaii N N+1 N+2


Valoarea stocurilor 655,660 499,955 519,947
Cifra de afaceri 26,376,492 27,426,104 28,522,813
Numar de zile 365 365 365
Viteza de rotatie a stocurilor 9.07 6.65 6.65

VITEZA DE ROTATIE A CREANTELOR

Explicaii N N+1 N+2


Valoarea creantelor 468,329 214,266 297,113
Vanzari pe credit 6,594,123 4,113,916 5,704,563
Numar de zile 365 365 365
Viteza de rotatie a creantelor 25.92 19.01 19.01

VITEZA DE ROTATIE A FURNIZORILOR PRIN CIFRA DE AFACERI

Explicaii N N+1 N+2


Valoarea furnizorilor 144,113 76,277 129,671
Cumparari pe credit 830,071 508,004 863,606
Numar de zile 365 365 365
Viteza de rotatie a furnizorilor 63.37 54.80 54.80

INDICATORI DE RENTABILITATE

MARJA PROFITULUI DE EXPLOATARE

Explicaii N N+1 N+2


Profit din exploatare 6,656,809 5,978,120 6,307,281
Cifra de afaceri 26,376,492 27,426,104 28,522,813
Marja profitului de exploatare 25.24 21.80 22.11

MARJA PROFITULUI NET

Explicaii N N+1 N+2


Profit net 4,662,154 4,446,010 5,097,566
Cifra de afaceri 26,376,492 27,426,104 28,522,813
Marja profitului net 17.68 16.21 17.87

RENTABILITATEA CAPITALULUI PROPRIU (ROI)

Explicaii N N+1 N+2


Profit net 4,662,154 4,446,010 5,097,566
Capital propriu 14,149,831 17,484,339 18,508,731
ROI 32.95 25.43 27.54

RENTABILITATEA ACTIVELOR TOTALE

Explicaii N N+1 N+2


Profit inainte de impozitare si plata
dobanzilor 6,678,309 5,988,120 6,337,281
Total active 21,554,236 22,005,251 22,830,590
Rentabilitatea activelor totale 30.98 27.21 27.76
acerii pe Perioada Previzionat

N+3 N+4

10.09 1.44
6.68 1.12

0.02 0.21
0.00 0.00

0.02 0.27

480.54 Serv. dat este nul

68.70 109.73

6.65 6.65

19.01 19.01

54.80 54.80

22.38 22.56
18.91 18.95

23.72 24.74

27.64 23.14
N+3 N+4
5,728,747 9,521,430
567,486 6,617,669
10 1

N+3 N+4
3,791,602 7,423,130
567,486 6,617,669
7 1

N+3 N+4
567,486 6,617,669
24,830,747 30,880,930
0.02 0.21

N+3 N+4
0 0
24,263,261 24,263,261
0 0

N+3 N+4
567,486 6,617,669
24,263,261 24,263,261

0.02 0.27

N+3 N+4

5,754,530 6,002,735
12,000 0
5,766,530 6,002,735
12,000 0

0 0
12,000 0
481 Serv. dat este nul

AFACERI (RAC)

N+3 N+4
5,728,747 9,521,430
30,436,327 31,672,453
365 365
69 110

N+3 N+4
554,829 577,362
30,436,327 31,672,453
365 365
6.65 6.65

N+3 N+4
317,045 412,402
6,087,265 7,918,113
365 365
19.01 19.01

N+3 N+4
158,717 188,873
1,057,054 1,257,894
365 365
54.80 54.80

N+3 N+4
6,812,631 7,146,113
30,436,327 31,672,453
22.38 22.56

N+3 N+4
5,754,530 6,002,735
30,436,327 31,672,453
18.91 18.95

N+3 N+4
5,754,530 6,002,735
24,263,261 24,263,261
23.72 24.74

N+3 N+4

6,862,631 7,146,113
24,830,747 30,880,930
27.64 23.14
Valoarea actualizat net
20,481,969

Rata intern de rentabilitate


149%

Termenul de Recuperare al Investiiei(ani)


2.66

VAN
Cost total de Iesiri din Intrari din
Anul
investitie exploatare exploatare
N 7,567,000 23,141,151 27,762,992
N+1 0 24,674,156 28,814,754
N+2 0 24,464,131 29,945,250
N+3 3,300,000 25,730,643 31,892,688
N+4 2,750,000 26,711,349 33,092,877
N+5 25,946,764 33,092,877
N+6 25,946,764 33,092,877
N+7 25,946,764 33,092,877
N+8 25,946,764 33,092,877
N+9 25,946,764 33,092,877
Valoare reziduala
TOTAL 13,617,000 254,455,251 316,972,947

RIR
Cost total de Iesiri din Intrari din
Anul
investitie exploatare exploatare
N 7,567,000 23,141,151 27,762,992
N+1 0 24,674,156 28,814,754
N+2 0 24,464,131 29,945,250
N+3 3,300,000 25,730,643 31,892,688
N+4 2,750,000 26,711,349 33,092,877
N+5 0 25,946,764 33,092,877
N+6 0 25,946,764 33,092,877
N+7 0 25,946,764 33,092,877
N+8 0 25,946,764 33,092,877
N+9 0 25,946,764 33,092,877
Valoare reziduala
TOTAL 13,617,000 254,455,251 316,972,947

Rata de
Anul CF anual CF actualizat
TR actualizare
N 4,600,341 1.0000 4,600,341
N+1 4,130,598 0.8403 3,471,091
N+2 5,451,118 0.7062 3,849,388
N+3 6,112,045 0.5934 3,626,984
N+4 6,381,528 0.4987 3,182,269
N+5 6,381,528 0.4190 2,674,175
N+6 6,381,528 0.3521 2,247,206
N+7 6,381,528 0.2959 1,888,409
N+8 6,381,528 0.2487 1,586,898
N+9 6,381,528 0.2090 1,333,528
Proiectul de afacere este acceptabil !
0.19

Valoarea Rata de Valoare


Cash-flow net
reziduala actualizare actualizata neta
-2,945,159 1 -2,945,159
4,140,598 0.8403 3,479,494
5,481,118 0.7062 3,870,573
2,862,045 0.5934 1,698,383
3,631,528 0.4987 1,810,930
7,146,113 0.4190 2,994,574
7,146,113 0.3521 2,516,449
7,146,113 0.2959 2,114,663
7,146,113 0.2487 1,777,028
7,146,113 0.2090 1,493,301
8000000 0.2090 1671734.61264344
48,900,696 8,000,000 20,481,969

Valoarea venit net venit net


Cash-flow net
reziduala actualizat actualizat
-2,945,159
4,140,598
5,481,118
2,862,045
3,631,528
7,146,113
7,146,113
7,146,113
7,146,113
7,146,113
8000000 8000000
56,900,696 8,000,000
149%

Termen de
CF mediu
recuperare

2,846,029 2.66
Ratele de Lichiditate

12.00
10.09
10.00

8.00
6.68

6.00
LICHIDITATE GLOBALA
3.15 3.49 LICHIDITATEA IMEDIATA
4.00
2.27 2.39
1.52 1.44
2.00 1.10 1.12

0.00
N N+1 N+2 N+3 N+4

Ani
Rata Datoriilor
0.34
0.35

0.30

0.25 0.21 0.21


0.19
0.20

0.15

0.10

0.05 0.02

0.00
N N+1 N+2 N+3 N+4

Ani
N N+1 N+2 N+3 N+4

Ani
Rata de acoperire a capitalului

0.60 0.52

0.50

0.40
0.26 0.27
0.23
0.30

0.20

0.10 0.02

0.00
N N+1 N+2 N+3 N+4

Ani
Marja profitului din exploatare

26.00
25.24

25.00

24.00

23.00 22.56
22.38
22.11
21.80
22.00

21.00

20.00
N N+1 N+2 N+3 N+4

Ani
21.00

20.00
N N+1 N+2 N+3 N+4

Ani
Marja profitului net
18.91 18.95
19.00
18.50
17.87
17.68
18.00
17.50
17.00
16.21
16.50
16.00
15.50
15.00
14.50
N N+1 N+2 N+3 N+4

Ani
15.50
15.00
14.50
N N+1 N+2 N+3 N+4

Ani
Rentabilitatea capitalului propriu
32.95
35.00
27.54
30.00 25.43
23.72 24.74
25.00

20.00

15.00

10.00

5.00

0.00
N N+1 N+2 N+3 N+4

Ani
15.00

10.00

5.00

0.00
N N+1 N+2 N+3 N+4

Ani
Rentabilitatea activelor totale
35.00 30.98
27.21 27.76 27.64
30.00
23.14
25.00

20.00

15.00

10.00

5.00

0.00
N N+1 N+2 N+3 N+4
20.00

15.00

10.00

5.00

0.00
N N+1 N+2 N+3 N+4

Ani
N N+1 N+2 N+3 N+4
4,662,154 4,446,010 5,097,566 5,754,530 6,002,735
5,728,466 4,825,848 5,719,868 6,124,045 6,381,528
3,091,841 1,140,598 2,231,118 2,862,045 3,631,528

Evoluia comparativ a Profitului net, Cash Flow-ului din exploatare, i Cash Flow-ului net nainte de plata dividendelor

Profitul net

Cash Flow din


7,000,000 exploatare

6,000,000 Cash Flow net


nainte de plata
5,000,000
ii Lei

dividendelor
M

4,000,000
3,000,000
2,000,000
1,000,000
0
N N+1 N+2 N+3 N+4
6,000,000 Cash Flow net
nainte de plata
5,000,000

ii Lei
dividendelor

M
4,000,000
3,000,000
2,000,000
1,000,000
0
N N+1 N+2 N+3 N+4

Ani
Evoluia comparativ a Cifrei de Afaceri i a Rezultatului Net

31,672,453
30,436,327
28,522,813
27,426,104
26,376,492

35,000,000

30,000,000
Mii Lei

25,000,000

20,000,000

,002,735
754,530
97,566

15,000,000
62,154

Cifra de afaceri
46,010

Rezultatul net
10,000,000
35,000,000

3
26,376

30
27,42

28,5
30,000,000

Mii Lei
25,000,000

20,000,000

6,002,735
5,754,530
5,097,566
15,000,000

4,662,154
Cifra de afaceri

4,446,010
Rezultatul net
10,000,000

5,000,000

0
N N+1 N+2 N+3 N+4

Ani
6,381,528
6,124,045
Evoluia Cash Flow-ului din exploatare i a Serviciului datoriei
5,728,466

5,719,868
4,825,848

7,000,000
3,695,250

6,000,000
3,268,750
2,628,125
Mii Lei

5,000,000
4,000,000
Fluxul de numerar din
3,000,000 exploatare

Serviciul datoriei
6,3
5,728

5,719
4,825,84
7,000,000

6,1
3,695,250
6,000,000

3,268,750
2,628,125
Mii Lei
5,000,000
4,000,000
Fluxul de numerar din
exploatare
3,000,000
2,000,000 Serviciul datoriei

12,000
1,000,000
0

0
N N+1 N+2 N+3 N+4

Ani