Alimentos Finca S A 11

DM_FORMATO
1105 Caja
1110 Bancos
1120 Cuentas de Ahorro
12 INVERSIONES CP
1305 Clientes
1325 Cuentas por Cobrar a Socios y Accionistas
1330 Anticipos y Avances
1335 Depositos
1345 Ingresos por Cobrar CP
1355 Antic Imptos y Contrib o Saldos a Favor
1360 Reclamaciones (CP)
1365 Cuentas x Cobrar a Trabajadores (CP)
1370 Prestamos a Particulares CP
1380 Deudores Varios (CP)
1390 Deudas de Dificil Cobro (CP)
1399 Provisiones (CP)
1405 Materias Primas
1430 Productos Terminados
1435 Mcias no Fabricadas x la Empresa
1455 Materiales Repuestos y Accesorios
1460 Envases y Empaques
1465 Inventarios en Transito
1705 Gastos Pagados x Anticipado CP
1710 Cargos Diferidos CP
0 TOTAL ACTIVO CORRIENTE
12 INVERSIONES LP
1325 Cuentas x Cobrar a Socios y Accionistas (LP)
1365 Cuentas por Cobrar a Trabajadores (LP)
1370 Prestamos a Particulares LP
15 PROPIEDADES PLANTA Y EQUIPO NETO
1805 Bienes de Arte y Cultura
1895 Diversos
1905 De Inversiones
1910 De Propiedades Planta y Equipo
1995 De Otros Activos
0 TOTAL ACTIVO NO CORRIENTE
0 TOTAL ACTIVO
21 OBLIGACIONES FINANCIERAS (CP)
22 PROVEEDORES
2335 Costos y Gastos x Pagar CP
2340 Instalamentos x Pagar
2345 Acreedores Oficiales (CP)
2365 Retencion en la Fuente
2367 Impuesto a las Ventas Retenido
2368 Impuesto de Industria y Comercio Retenido
2370 Retenciones y Aportes de Nomina
2380 Acreedores Varios (CP)
24 IMPUESTOS GRAVAMENES Y TASAS
25 OBLIGACIONES LABORALES CORTO PLAZO
2805 Anticipos y Avances Recibidos (CP)
2815 Ingresos Recibidos para Terceros (CP)
0 TOTAL PASIVO CORRIENTE
2620 Pensiones de Jubilacion (LP)
0 TOTAL PASIVO NO CORRIENTE
0 TOTAL PASIVO
3105 Capital Suscrito y Pagado
3205 Prima en coloc. acc cuotas o partes de int. s
33 RESERVAS
36 RESULTADOS DEL EJERCICIO
38 SUPERAVIT POR VALORIZACIONES
0 TOTAL PATRIMONIO
0 TOTAL PASIVO Y PATRIMONIO
12/31/2008
538,252
1,777,631
328,658
3,287,602
19,678,027
237,110
59,971
2,082
1,793,428
8,244,195
215,562
105,664
541,496
28,725
213,300
5,240
31,600,362
3,505,594
724,295
1,151,114
865,054
2,524,201
73,618,750
151,035,833
39,006,482
9,250,747
7,512,290
18,400
30,406
1,376,040
188,430
2,848
380,896
22,148
4,661,930
1,510,530
1,458,717
532
65,420,396
449,925
449,925
65,870,321
31,000,000
7,342,140
11,176,478
1,076,807
34,570,087
85,165,512
151,035,833
90,682,241
169,695,618
28,843,828
16,751,471
6,997,588
33,911
1,302,892
441,765
3,795
423,553
346,112
4,210,859
1,742,766
1,576,547
5,467
62,680,554
471,715
471,715
63,152,269
31,000,000
7,342,140
12,253,285
12,197,427
43,750,497
106,543,349
169,695,618
57,642,605
8,562,590
126,430,808
202,012,996
23,275,773
17,011,668
4,836,755
192,000
33,106
1,113,394
133,770
3,300
463,932
745,615
5,448,690
1,738,897
1,388,468
13,089
56,398,457
561,874
561,874
56,960,331
31,000,000
7,342,140
24,450,712
16,054,618
66,205,195
145,052,665
202,012,996
DM_FORMATO
41 Ingresos Operacionales
61 MENOS: Costos De Ventas y De Prestacion De Servicios
UTILIDAD BRUTA
51 MENOS: Gastos Operacionales De Administracin
52 MENOS: Gastos Operacionales De Ventas
UTILIDAD OPERACIONAL
42 MAS: Ingresos No Operacionales
53 MENOS: Gastos No Operacionales
UTILIDAD ANTES DE IMPUESTOS Y AJUSTE POR INFLACION
54 MENOS: Impuestos De Renta y Complementarios
59 GANANCIAS Y PERDIDAS
12/31/2008
349,462,183
327,973,126
21,489,057
7,409,407
7,878,973
6,200,677
5,246,867
9,532,870
1,914,674
837,867
1,076,807
12/31/2009
397,991,353
359,190,361
38,800,992
8,072,111
11,104,163
19,624,718
5,259,650
6,180,032
18,704,336
6,506,909
12,197,427
12/31/2010
373,508,546
335,144,171
38,364,375
8,518,332
9,242,161
20,603,882
6,349,547
2,979,763
23,973,666
7,919,048
16,054,618
77,417,083
5,348,312
121,416
3,957,143
29,237,012
11,182
373,598
1,947,510
32,622,577
12/31/2009
914,353
1,827,521
97,263
4,115,422
22,780,829
770,103
24,658
2,082
63,680
3,738,331
6,118
105,728
2,336,412
113,818
221,094
32,239
25,510,377
3,637,808
1,028,468
1,204,712
690,767
9,533,233
317,979
4,860
79,013,377
1,039,849
21,213,983
99,788
5,431,399
18,806,146
11,182
329,397
3,554,275
40,196,222
12/31/2010
3,112,763
887,659
14,069
5,257,887
20,555,710
783,888
1,102,477
2,082
37,489
1,690,224
19,372
156,019
2,890,952
337,140
261,963
135,032
21,996,300
2,229,920
887,084
1,404,762
624,628
11,141,833
322,999
75,582,188
5,279,849
36,000,000
209,165
4,466,969
13,929,051
11,182
329,397
12/31/2008
0.356%
1.177%
0.218%
2.177%
13.029%
0.157%
0.040%
0.001%
1.187%
5.458%
0.143%
0.070%
0.359%
0.019%
0.141%
0.003%
20.922%
2.321%
0.480%
0.762%
0.573%
1.671%
0.000%
0.000%
alternativa A
12/31/2009
0.539%
1.077%
0.057%
2.425%
13.425%
0.454%
0.015%
0.001%
0.038%
2.203%
0.004%
0.062%
1.377%
0.067%
0.130%
0.019%
15.033%
2.144%
0.606%
0.710%
0.407%
5.618%
0.187%
0.003%
12/31/2010
1.541%
0.439%
0.007%
2.603%
10.175%
0.388%
0.546%
0.001%
0.019%
0.837%
0.010%
0.077%
1.431%
0.167%
0.130%
0.067%
10.889%
1.104%
0.439%
0.695%
0.309%
5.515%
0.160%
0.000%
3.541%
0.000%
0.080%
2.620%
19.358%
0.007%
0.247%
1.289%
21.599%
0.000%
0.613%
12.501%
0.059%
3.201%
11.082%
0.007%
0.194%
2.095%
23.687%
0.000%
2.614%
17.821%
0.104%
2.211%
6.895%
0.006%
0.163%
0.000%
28.534%
4.239%
100.007%
25.826%
6.125%
4.974%
0.012%
0.020%
0.911%
0.125%
0.002%
0.252%
0.015%
3.087%
1.000%
0.966%
0.000%
100.038%
16.997%
9.871%
4.124%
0.000%
0.020%
0.768%
0.260%
0.002%
0.250%
0.204%
2.481%
1.027%
0.929%
0.003%
100.134%
11.522%
8.421%
2.394%
0.095%
0.016%
0.551%
0.066%
0.002%
0.230%
0.369%
2.697%
0.861%
0.687%
0.006%
0.298%
0.278%
0.278%
20.525%
4.861%
7.400%
0.713%
22.889%
18.268%
4.327%
7.221%
7.188%
25.782%
15.346%
3.634%
12.104%
7.947%
32.773%
100.000%
100.000%
100.000%
12/31/2008
12/31/2009
12/31/2010
6.1492%
9.7492%
10.2714%
1.774%
4.931%
5.516%
0.548%
4.700%
6.419%
Alternativa A activos 2009
Cuentas por cobrar

13.029%
Materias primas
20.922%
Planat
25%
y equipo neto13% 19.358%
planta equipo
21.599%
21%
OTROS
25.092%
22%
Cuentas por cobrar
Materias primas
Cuntas por cobrar 13.425%

materias primas 13%
15.033%
48%
plnata equipo
23.687%
OTROS
47.855%
Planat y equipo neto
19%
15%
Cuntas por cobrar

materias primas
capital suscrito pag

26%
31%
superavit valorizacion
OTROS
23%
20.525%
22.889% Obligaciones
30.760% financieras
20%
Alternativa A pasivo-patrimonio 2009

Obligaciones financieras
16.997%
capital suscrito pag18.268%
25.782%
39%38.953%
OTROS
11.522%
capital suscrito pag15.346%
32.773%
OTROS
40.360%
17%
18%
26%
12%
15%
OTROS
OTROS
Alternativa A pasivo- patrimonio 2010
40%
OTROS
materias primas
11%
cuentas por cobrar a

socios
18%
OTROS
OTROS
Alternativa A pasivo-patrimonio
2008 25.826%
Planta equipo
28%
plnata equipo
24%
planta equipo
Planta equipo
28.534%
cuentas por cobrar17.821%
a socios
materias primas 10.889%
43%
OTROS
42.757%
33%
OTROS
Alternativa B
DM_FORMATO
12/31/2008
1105 Caja
538,252
1110 Bancos
1,777,631
328,658
12 INVERSIONES CP
3,287,602
1305 Clientes
19,678,027
237,110
59,971
1335 Depositos
2,082
1,793,428
8,244,195
215,562
105,664
541,496
28,725
213,300
5,240
31,600,362
3,505,594
724,295
1,151,114
865,054
2,524,201
77,417,083
12 INVERSIONES LP
5,348,312
121,416
3,957,143
29,237,012
11,182
1895 Diversos
373,598
1905 De Inversiones
1,947,510
12/31/2009
914,353
1,827,521
97,263
4,115,422
22,780,829
770,103
24,658
2,082
63,680
3,738,331
6,118
105,728
2,336,412
113,818
221,094
32,239
25,510,377
3,637,808
1,028,468
1,204,712
690,767
9,533,233
317,979
4,860
79,013,377
1,039,849
21,213,983
99,788
5,431,399
18,806,146
11,182
329,397
3,554,275
12/31/2010
3,112,763
887,659
14,069
5,257,887
20,555,710
783,888
1,102,477
2,082
37,489
1,690,224
19,372
156,019
2,890,952
337,140
261,963
135,032
21,996,300
2,229,920
887,084
1,404,762
624,628
11,141,833
322,999
75,582,188
5,279,849
36,000,000
209,165
4,466,969
13,929,051
11,182
329,397
12/31/2008
0.695%
2.296%
0.425%
4.247%
25.418%
0.306%
0.077%
0.003%
2.317%
10.649%
0.278%
0.136%
0.699%
0.037%
0.276%
0.007%
40.818%
4.528%
0.936%
1.487%
1.117%
3.261%
0.000%
0.000%
100.014%
7.265%
0.000%
0.165%
5.375%
39.714%
0.015%
0.507%
2.645%
12/31/2009
1.157%
2.313%
0.123%
5.209%
28.832%
0.975%
0.031%
0.003%
0.081%
4.731%
0.008%
0.134%
2.957%
0.144%
0.280%
0.041%
32.286%
4.604%
1.302%
1.525%
0.874%
12.065%
0.402%
0.006%
100.082%
1.147%
23.394%
0.110%
5.989%
20.739%
0.012%
0.363%
3.919%
12/31/2010
4.118%
1.174%
0.019%
6.957%
27.197%
1.037%
1.459%
0.003%
0.050%
2.236%
0.026%
0.206%
3.825%
0.446%
0.347%
0.179%
29.102%
2.950%
1.174%
1.859%
0.826%
14.741%
0.427%
0.000%
100.357%
4.176%
28.474%
0.165%
3.533%
11.017%
0.009%
0.261%
0.000%
Alternativa B
32,622,577
73,618,750
0 TOTAL ACTIVO
151,035,833
39,006,482
22 PROVEEDORES
9,250,747
7,512,290
18,400
30,406
1,376,040
188,430
2,848
380,896
22,148
4,661,930
1,510,530
1,458,717
532
65,420,396
449,925
449,925
0 TOTAL PASIVO
65,870,321
31,000,000
3205 Prima en coloc. acc cuotas o partes de int. s 7,342,140
33 RESERVAS
11,176,478
1,076,807
34,570,087
0 TOTAL PATRIMONIO
85,165,512
151,035,833
40,196,222
90,682,241
169,695,618
28,843,828
16,751,471
6,997,588
33,911
1,302,892
441,765
3,795
423,553
346,112
4,210,859
1,742,766
1,576,547
5,467
62,680,554
471,715
471,715
63,152,269
31,000,000
7,342,140
12,253,285
12,197,427
43,750,497
106,543,349
169,695,618
57,642,605
8,562,590
126,430,808
202,012,996
23,275,773
17,011,668
4,836,755
192,000
33,106
1,113,394
133,770
3,300
463,932
745,615
5,448,690
1,738,897
1,388,468
13,089
56,398,457
561,874
561,874
56,960,331
31,000,000
7,342,140
24,450,712
16,054,618
66,205,195
145,052,665
202,012,996
44.313%
0.000%
100.000%
44.326%
0.000%
100.000%
45.592%
6.773%
100.000%
59.624%
14.140%
11.483%
0.028%
0.046%
2.103%
0.288%
0.004%
0.582%
0.034%
7.126%
2.309%
2.230%
0.001%
100.000%
100.000%
46.017%
26.725%
11.164%
0.000%
0.054%
2.079%
0.705%
0.006%
0.676%
0.552%
6.718%
2.780%
2.515%
0.009%
100.000%
100.000%
41.270%
30.163%
8.576%
0.340%
0.059%
1.974%
0.237%
0.006%
0.823%
1.322%
9.661%
3.083%
2.462%
0.023%
100.000%
100.000%
100.00%
100.00%
100.00%
36.400%
8.621%
13.123%
1.264%
40.592%
100.000%
29.096%
6.891%
11.501%
11.448%
41.064%
100.000%
21.372%
5.062%
16.856%
11.068%
45.642%
100.000%
Alternativa B
Clientes
Anticipos
Materia prima
OTROS
Alternativa B
activo corriente
2008
23%
Alternativa
B activo corriente
2009
25%
25.418%
10.649%
40.818%
23.114%
Clientes
Materia prima
Inventario tran
OTROS
28.832%
32.286%
12.065%
26.817%
Clientes
41%
27%
Anticipos
29%
11%
Clientes
Materia
prima
12%
Materia prima
Inventario tran
OTROS
32%
Alternativa B activo no corrientee 2009

12% 21%
Planta equipo
23%
propiedades planta equipo

Alternativa B activo no corriente
cuentas por cobrar socios
44%
39.714%
2008
OTROS
Planta equipo
propiedades planta44.313%
equipo
otros
15.973%16%
40%
44%
Planta equipo
propiedades planta
equipo
otros
Planta equipo
20.739%
propiedades planta44.326%
equipo
cuentas por cobrar 23.394%
socios
OTROS
11.541%
Alternativa B
Alternativa B pasivo corriente 2008

oblogaciones financieras
59.624%
Proveedores
14.140%
15%
Gatos xpagar
corto 11.483%
plazo
OTROS
14.752%
11%
46.017%
Proveedores
26.725%
Gatos xpagar corto 11.164%
plazo
OTROS
16.094%
16%
11%
46%
Proveedores
60%
14%
Gatos xpagar corto plazo

OTROS
27%
Alternativa B patrimonio 2008
Capital susrcrito pagado

36.400% 47%
superavit
valorizaciones
40.592%
53%

29.096%
superavit valorizaciones
41.064%
41%

59%
Alternativa B
Alternativa B activo corriente 2010

Clientes
29%
15%
27.197%
27%
materia prima
inventario tran
OTROS
29.102%
14.741%
28.960%
Clientes
materia prima
inventario tran
29%
OTROS
Alternativa B activio no corriente 2010

Planta equipo
11.017%
propiedades
planta45.592%
equipo
11%
cuentas por cobrar 28.474%
socios
OTROS
14.917%
15%
Planta equipo
28%
propiedades planta equipo
46%
cuentas por cobrar socios

OTROS
Alternativa B
pasivo corrienteoblogaciones
2009 financieras
41.270%
Proveedores
30.163%
8.576%
OTROS
19.990%
46%
20%
9%
41%
Proveedores
Proveedores
30%
OTROS
OTROS
tiva B patrimonio 2009

21.372%
45.642%
32%
41%
68%
Alternativa C
DM_FORMATO
12/31/2008
1105 Caja
538,252
1110 Bancos
1,777,631
328,658
12 INVERSIONES CP
3,287,602
1305 Clientes
19,678,027
1325 Cuentas por Cobrar a Socios y Accionistas 237,110
59,971
1335 Depositos
2,082
1,793,428
1355 Antic Imptos y Contrib o Saldos a Favor 8,244,195
215,562
105,664
541,496
28,725
213,300
5,240
31,600,362
3,505,594
724,295
1,151,114
865,054
2,524,201
77,417,083
12 INVERSIONES LP
5,348,312
121,416
3,957,143
15 PROPIEDADES PLANTA Y EQUIPO NETO 29,237,012
11,182
1895 Diversos
373,598
1905 De Inversiones
1,947,510
12/31/2009
914,353
1,827,521
97,263
4,115,422
22,780,829
770,103
24,658
2,082
63,680
3,738,331
6,118
105,728
2,336,412
113,818
221,094
32,239
25,510,377
3,637,808
1,028,468
1,204,712
690,767
9,533,233
317,979
4,860
79,013,377
1,039,849
21,213,983
99,788
5,431,399
18,806,146
11,182
329,397
3,554,275
12/31/2010
3,112,763
887,659
14,069
5,257,887
20,555,710
783,888
1,102,477
2,082
37,489
1,690,224
19,372
156,019
2,890,952
337,140
261,963
135,032
21,996,300
2,229,920
887,084
1,404,762
624,628
11,141,833
322,999
75,582,188
5,279,849
36,000,000
209,165
4,466,969
13,929,051
11,182
329,397
12/31/2008
12/31/2009
12/31/2010
51.26%
46.56%
37.41%
48.74%
53.44%
62.59%
Alternativa C
32,622,577
73,618,750
0 TOTAL ACTIVO
151,035,833
39,006,482
22 PROVEEDORES
9,250,747
7,512,290
18,400
30,406
1,376,040
188,430
2368 Impuesto de Industria y Comercio Retenido 2,848
380,896
22,148
4,661,930
25 OBLIGACIONES LABORALES CORTO PLAZO 1,510,530
1,458,717
532
65,420,396
449,925
449,925
0 TOTAL PASIVO
65,870,321
31,000,000
3205 Prima en coloc. acc cuotas o partes de int.7,342,140
s
33 RESERVAS
11,176,478
1,076,807
34,570,087
0 TOTAL PATRIMONIO
85,165,512
151,035,833
40,196,222
90,682,241
169,695,618
28,843,828
16,751,471
6,997,588
33,911
1,302,892
441,765
3,795
423,553
346,112
4,210,859
1,742,766
1,576,547
5,467
62,680,554
471,715
471,715
63,152,269
31,000,000
7,342,140
12,253,285
12,197,427
43,750,497
106,543,349
169,695,618
57,642,605
8,562,590
126,430,808
202,012,996
23,275,773
17,011,668
4,836,755
192,000
33,106
1,113,394
133,770
3,300
463,932
745,615
5,448,690
1,738,897
1,388,468
13,089
56,398,457
561,874
561,874
56,960,331
31,000,000
7,342,140
24,450,712
16,054,618
66,205,195
145,052,665
202,012,996
100.00%
100.00%
100.00%
43.314%
36.937%
27.918%
0.30%
0.28%
0.28%
56.39%
62.78%
71.80%
100.000%
100.000%
100.000%
Alternativa C
Alternativas c activos 2009
Activo coorierte
Activo no coorierte
Activo coorierte
46.56%
Activo no coorierte
53.44%
47%
51.26%
48.74%
53%
Activo coorierte
Activo no coorierte
Alternativa c Activos
2008
49%
51%
Activo
coorierte
Alternativa C
Pasivo corririente
Pasivo no corririente
Patrimono
Pasivo corririente 36.937%

Pasivo no corririente 0.28%
Patrimono
62.78%
43.314%
0.30%
56.39%
Alternativa C Pasivo-patrimonio 2008
43%
Pasivo corririente
57%
Patrimono
0%
Alternativa C
Alternativa c activos 2010

Activo corriente
37.41% 37%
Activo no corriente 62.59%
Activo coorierte
Activo no coorierte
63%
Activo corriente
Activo no corriente
Alternativa C
Pasivo corririente 27.918%

Pasivo no corririente 0.28%
Patrimono
71.80%
Alternativa C pasivo-patrimonio 2009
37%
Pasivo corririente
63%
Patrimono
0%
Alternativa C
Alternativa C
Alternativa C pasivo patrimonio

2010
28%
Pasivo corririente
72%
0%
Patrimono
Analisis Horizontal 2009

DM_FORMATO
12/31/2008
1105 Caja
538,252
1110 Bancos
1,777,631
328,658
12 INVERSIONES CP
3,287,602
1305 Clientes
19,678,027
237,110
59,971
1335 Depositos
2,082
1,793,428
8,244,195
215,562
1365 Cuentas x Cobrar a Trabajadores (CP) 105,664
541,496
28,725
213,300
5,240
31,600,362
3,505,594
724,295
1455 Materiales Repuestos y Accesorios 1,151,114
865,054
2,524,201
77,417,083
12 INVERSIONES LP
5,348,312
1365 Cuentas por Cobrar a Trabajadores (LP)121,416
3,957,143
29,237,012
11,182
1895 Diversos
373,598
1905 De Inversiones
1,947,510
1910 De Propiedades Planta y Equipo 32,622,577
73,618,750
0 TOTAL ACTIVO
151,035,833
39,006,482
22 PROVEEDORES
9,250,747
7,512,290
18,400
30,406
1,376,040
188,430
2,848
380,896
22,148
24 IMPUESTOS GRAVAMENES Y TASAS 4,661,930
12/31/2009
914,353
1,827,521
97,263
4,115,422
22,780,829
770,103
24,658
2,082
63,680
3,738,331
6,118
105,728
2,336,412
113,818
221,094
32,239
25,510,377
3,637,808
1,028,468
1,204,712
690,767
9,533,233
317,979
4,860
79,013,377
1,039,849
21,213,983
99,788
5,431,399
18,806,146
11,182
329,397
3,554,275
40,196,222
90,682,241
169,695,618
28,843,828
16,751,471
6,997,588
33,911
1,302,892
441,765
3,795
423,553
346,112
4,210,859
Absoluta
Relativa
12/31/2009
12/31/2009
376,101
69.875%
49,890
2.807%
(231,395)
-70.406%
827,820
25.180%
3,102,802
15.768%
532,993
224.787%
(35,313)
-58.883%
0
0.000%
(1,729,748)
-96.449%
(4,505,864)
-54.655%
(209,444)
-97.162%
64
0.061%
1,794,916
331.474%
85,093
296.233%
7,794
3.654%
26,999
515.248%
(6,089,985)
-19.272%
132,214
3.772%
304,173
41.996%
53,598
4.656%
(174,287)
-20.148%
7,009,032
277.673%
317,979
100.000%
4,860
100.000%
1,596,294
2.062%
(4,308,463)
-80.557%
21,213,983
100.000%
(21,628)
-17.813%
1,474,256
37.256%
(10,430,866)
-35.677%
0
0.000%
(44,201)
-11.831%
1,606,765
82.504%
7,573,645
23.216%
0
17,063,491
23.178%
18,659,785
12.355%
(10,162,654)
-26.054%
7,500,724
81.082%
(514,702)
-6.851%
(18,400)
-100.000%
3,505
11.527%
(73,148)
-5.316%
253,335
134.445%
947
33.251%
42,657
11.199%
323,964
1462.723%
(451,071)
-9.676%

1,510,530
2805 Anticipos y Avances Recibidos (CP) 1,458,717
532
65,420,396
449,925
449,925
0 TOTAL PASIVO
65,870,321
31,000,000
3205 Prima en coloc. acc cuotas o partes de
7,342,140
int. s
33 RESERVAS
11,176,478
1,076,807
34,570,087
0 TOTAL PATRIMONIO
85,165,512
151,035,833
1,742,766
1,576,547
5,467
62,680,554
471,715
471,715
63,152,269
31,000,000
7,342,140
12,253,285
12,197,427
43,750,497
106,543,349
169,695,618
ESTADO DE RESULTADOS
12/31/2008
12/31/2009
349,462,183
397,991,353
61 MENOS: Costos De Ventas y De Prestacion
327,973,126
De Servicios359,190,361
UTILIDAD BRUTA
21,489,057
38,800,992
7,409,407
8,072,111
7,878,973
11,104,163
6,200,677
19,624,718
5,246,867
5,259,650
9,532,870
6,180,032
UTILIDAD ANTES DE IMPUESTOS Y AJUSTE 1,914,674
POR INFLACION 18,704,336
837,867
6,506,909
1,076,807
12,197,427
232,236
117,830
4,935
(2,739,842)
21,790
21,790
(2,718,052)
0
0
1,076,807
11,120,620
9,180,410
21,377,837
18,659,785
15.374%
8.078%
927.632%
-4.188%
4.843%
4.843%
-4.126%
0.000%
0.000%
9.635%
1032.740%
26.556%
25.102%
12.355%
Absoluta
Relativa
12/31/2009
12/31/2009
48,529,170
13.887%
31,217,235
9.518%
17,311,935
80.562%
662,704
8.944%
3,225,190
40.934%
13,424,041
216.493%
12,783
0.244%
(3,352,838)
-35.171%
16,789,662
876.894%
5,669,042
676.604%
11,120,620
1032.740%

o8
Activo
31,600,362corriente

1305 Clientes
35,000,000
19,678,027
2,524,201
Inventarios en transito
30,000,000
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
0
0
Activo no corriente
40,000,000
O8
35,000,000
INVERSIONES
LP
5,348,312
30,000,000
Cuentas x Cobrar a Socios y Accionistas (LP)
146525,000,000
Inventarios en Transito
2,524,201
20,000,000
15,000,000
10,000,000
5,000,000
0
0
1
2
3
Pasivo cooriente
45,000,000
40,000,000
35,000,000
30,000,000
PROVEEDORES
25,000,000
OBLIGACIONES
20,000,000 FINANCIERAS (CP)
Costos y Gastos x Pagar CP
15,000,000
o8
9,250,747
39,006,482
7,512,290
10,000,000
5,000,000
0
Pasivo no corriente
Pasivo no corriente
Pensiones de Jubilacion (LP)
449,925
600,000
500,000
400,000
300,000
200,000
100,000
0
Patrimonio
SUPERAVIT POR VALORIZACIONES

33 RESERVAS
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
0
0
Ingresos Operacionales
349,462,183
GANANCIAS Y PERDIDAS
1,076,807
costos De Ventas y De Prestacion De 327,973,126
Servicios
UTILIDAD BRUTA
21,489,057
400,000,000
300,000,000
200,000,000
100,000,000
0
340,000,000

o9
Activo corriente
25,510,377
22,780,829
9,533,233
1o
21,996,300
20,555,710
11,141,833
Activo Corriente
35,000,000
30,000,000
25,000,000
20,000,000
15,000,000
1305 Clientes
10,000,000
5,000,000
0
o8
1o
Activo no corriente
Activo no corriente
O9
1O
1,039,849
5,279,849
INVERSIONES
LP
21,213,983
36,000,000
9,533,233
11,141,833
Cuentas x Cobrar a
Socios y Accionistas (LP)
1465 Inventarios en
Transito
3
o9
40,000,000
35,000,000
30,000,000
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
0
O8
O9
1O
Pasivo cooriente
Pasivo corriente
50,000,000
40,000,000
PROVEEDORES
1o
o9
16,751,471
17,011,668
28,843,828 OBLIGACIONES
23,275,773
FINANCIERAS (CP)
6,997,588
4,836,755
Costos y Gastos x Pagar
CP
30,000,000
20,000,000
10,000,000
0
o8
3
Pasivo no corriente
o9
1o

471,715
Pasivo no
corriente561,874
Pasivo no corriente
600,000
500,000
Pensiones de
Jubilacion (LP)
400,000
300,000
200,000
100,000
0
1
o8
o9
Patrimonio
34,570,087
11,176,478
o9
43,750,497
12,253,285
66,205,195
24,450,712
patrimonio
70,000,000
60,000,000
50,000,000
SUPERAVIT POR
VALORIZACIONES
33 RESERVAS
40,000,000
30,000,000
20,000,000
10,000,000
0
2
397,991,353
12,197,427
359,190,361
38,800,992
o8
373,508,546
16,054,618
335,144,171
38,364,375
o9
Estado de resultados
GANANCIAS Y
PERDIDAS
costos De Ventas y De
Prestacion De Servicios
500,000,000
400,000,000
300,000,000
UTILIDAD BRUTA
200,000,000
340,000,000
380,000,000
420,000,000
100,000,000
0
1
Activo Corriente
1305 Clientes
1o
Activo no corriente
INVERSIONES LP
Cuentas x Cobrar a
Socios y Accionistas (LP)
1465 Inventarios en
Transito
1O
Pasivo corriente
PROVEEDORES
OBLIGACIONES
FINANCIERAS (CP)
Costos y Gastos x
Pagar CP
1o
asivo no corriente
Pensiones de
Jubilacion (LP)
patrimonio
SUPERAVIT POR
VALORIZACIONES
33 RESERVAS
o9
Ingresos Operacionales
GANANCIAS Y
PERDIDAS
costos De Ventas y De
Prestacion De Servicios
UTILIDAD BRUTA
3
Estado de cambio en la posicion financiera 2009

DM_FORMATO
1105 Caja
1110 Bancos
12 INVERSIONES CP
1305 Clientes
1335 Depositos
12 INVERSIONES LP
1895 Diversos
1905 De Inversiones
0 TOTAL ACTIVO
22 PROVEEDORES
Absoluta
40,178.00
376,101.00
49,890.00
(231,395.00)
827,820.00
3,102,802.00
532,993.00
(35,313.00)
0.00
(1,729,748.00)
(4,505,864.00)
(209,444.00)
64.00
1,794,916.00
85,093.00
7,794.00
26,999.00
(6,089,985.00)
132,214.00
304,173.00
53,598.00
(174,287.00)
7,009,032.00
317,979.00
4,860.00
(4,308,463.00)
21,213,983.00
(21,628.00)
1,474,256.00
(10,430,866.00)
0.00
(44,201.00)
1,606,765.00
7,573,645.00
0.00
(10,162,654.00)
7,500,724.00
(514,702.00)
(18,400.00)
3,505.00
(73,148.00)
253,335.00
947.00
Fuente
Uso
376,101.00
49,890.00
231,395.00
827,820.00
3,102,802.00
532,993.00
35,313.00
1,729,748.00
4,505,864.00
209,444.00
64.00
1,794,916.00
85,093.00
7,794.00
26,999.00
6,089,985.00
132,214.00
304,173.00
53,598.00
174,287.00
7,009,032.00
317,979.00
4,860.00
0.00
4,308,463.00
21,213,983.00
21,628.00
1,474,256.00
10,430,866.00
44,201.00
1,606,765.00
7,573,645.00
0.00
0.00
10,162,654.00
7,500,724.00
514,702.00
18,400.00
3,505.00
73,148.00
253,335.00
947.00
Estado de cambio en la posicion financiera 2009

0 TOTAL PASIVO
33 RESERVAS
0 TOTAL PATRIMONIO
42,657.00
323,964.00
(451,071.00)
232,236.00
117,830.00
4,935.00
42,657.00
323,964.00
21,790.00
21,790.00
0.00
451,071.00
232,236.00
117,830.00
4,935.00
0.00
0.00
0.00
0.00
1,076,807.00
11,120,620.00
9,180,410.00
1,076,807.00
11,120,620.00
9,180,410.00
0.00
57,660,954.00
57,714,952.00
Estado de cambio 2010

absoluta
DM_FORMATO
1105 Caja
1110 Bancos
12 INVERSIONES CP
1305 Clientes
1335 Depositos
12 INVERSIONES LP
1895 Diversos
1905 De Inversiones
0 TOTAL ACTIVO
22 PROVEEDORES
12/31/2010
$ 2,198,410
($ 939,862.00)
($ 83,194.00)
$ 1,142,465.00
($ 2,225,119.00)
$ 13,785.00
$ 1,077,819.00
$ 0.00
($ 26,191.00)
($ 2,048,107.00)
$ 13,254.00
$ 50,291.00
$ 554,540.00
$ 223,322.00
$ 40,869.00
$ 102,793.00
($ 3,514,077.00)
($ 1,407,888.00)
($ 141,384.00)
$ 200,050.00
($ 66,139.00)
$ 1,608,600.00
$ 5,020.00
($ 4,860.00)
$ 4,240,000.00
$ 14,786,017.00
$ 109,377.00
($ 964,430.00)
($ 4,877,095.00)
$ 0.00
$ 0.00
($ 3,554,275.00)
$ 17,446,383.00
$ 8,562,590.00
($ 5,568,055.00)
$ 260,197.00
($ 2,160,833.00)
$ 192,000.00
($ 805.00)
($ 189,498.00)
($ 307,995.00)
($ 495.00)
Fuente
usos
2,198,410
$ 939,862.00
$ 83,194.00
1,142,465
$ 2,225,119.00
13,785
1,077,819
0
$ 26,191.00
$ 2,048,107.00
13,254
50,291
554,540
223,322
40,869
102,793
$ 3,514,077.00
$ 1,407,888.00
$ 141,384.00
200,050
$ 66,139.00
1,608,600
5,020
$ 4,860.00
$ 0.00
4,240,000
14,786,017
109,377
$ 964,430.00
$ 4,877,095.00
$ 3,554,275.00
17,446,383
8,562,590
5,568,055
$ 260,197.00
2,160,833
$ 192,000.00
805
189,498
307,995
495
Estado de cambio 2010

0 TOTAL PASIVO
33 RESERVAS
0 TOTAL PATRIMONIO
total
$ 40,379.00
$ 399,503.00
$ 1,237,831.00
($ 3,869.00)
($ 188,079.00)
$ 7,622.00
$ 40,379.00
$ 399,503.00
$ 1,237,831.00
3,869
188,079
$ 7,622.00
0
$ 90,159.00
$ 0.00
$ 0.00
$ 12,197,427.00
$ 3,857,191.00
$ 22,454,698.00
$ 38,509,316.00
$ 32,317,378.00
$ 90,159.00
$ 0.00
$ 12,197,427.00
$ 3,857,191.00
$ 22,454,698.00
$ 60,589,628.00
60,795,214
Capital trabajo 2009

DM_FORMATO
12/31/2008
12 INVERSIONES LP
5,348,312
121,416
3,957,143
29,237,012
11,182
1895 Diversos
373,598
1905 De Inversiones
1,947,510
32,622,577
73,618,750
449,925
449,925
31,000,000
33 RESERVAS
11,176,478
1,076,807
34,570,087
0 TOTAL PATRIMONIO
85,165,512
Activo Corriente
Pasivo no corriente
total
12/31/2009 Variacion
Disminuye
Aumenta
1,039,849
(4,308,463)
4,308,463
21,213,983
21,213,983
21,213,983
99,788
(21,628)
21,628
5,431,399
1,474,256
1,474,256
18,806,146
(10,430,866)
10,430,866
11,182
0
329,397
(44,201)
44,201
3,554,275
1,606,765
1,606,765
40,196,222
7,573,645
7,573,645
0
90,682,241
471,715
471,715
31,000,000
7,342,140
12,253,285
12,197,427
43,750,497
106,543,349
2,008
77,417,083
65,420,396
2,009
79,013,377
62,680,554
11,996,687
16,332,823
21,790
21,790
0
0
1,076,807
11,120,620
9,180,410
TOTAL
$
1,076,807
11,120,620
9,180,410
36,204,785 $
Variacion
4,336,136
31,868,649
4,336,136
Capital de trabajo 2010

DM_FORMATO
12/31/2009
12 INVERSIONES LP
1,039,849
21,213,983
99,788
5,431,399
11,182
1895 Diversos
329,397
1905 De Inversiones
3,554,275
40,196,222
90,682,241
471,715
471,715
31,000,000
s
33 RESERVAS
12,253,285
12,197,427
43,750,497
0 TOTAL PATRIMONIO
106,543,349
2009
Activo corriente
Pasivo corriente
total
ABSOLUTA
DISMINUYE
AUMENTA
$
4,240,000.00
4,240,000
$
14,786,017.00 $
14,786,017.00
$
109,377.00
109,377
$
(964,430.00)
$
964,430.00
$
(4,877,095.00)
$
4,877,095.00
$
$
$
(3,554,275.00)
$
3,554,275.00
57,642,605 $
17,446,383.00
17,446,383
8,562,590 $
8,562,590.00
8,562,590
12/31/2010
5,279,849
36,000,000
209,165
4,466,969
13,929,051
11,182
329,397
126,430,808
561,874
561,874
31,000,000
7,342,140
24,450,712
16,054,618
66,205,195
145,052,665
$
$
$
$
$
$
$
$
90,159.00
90,159.00
12,197,427.00
3,857,191.00
22,454,698.00
38,509,316.00
2010 Variacion
79,013,377
62,680,554
75,582,188
56,398,457
16,332,823
19,183,731
2,850,908
$
$
$
$
$
$
45,144,367
90,159.00
12,197,427.00
3,857,191.00
22,454,698.00
47995275
Analisis horizontal 2010

DM_FORMATO
12/31/2009
1105 Caja
914,353
1110 Bancos
1,827,521
97,263
12 INVERSIONES CP
4,115,422
1305 Clientes
22,780,829
24,658
1335 Depositos
2,082
63,680
6,118
105,728
2,336,412
113,818
221,094
32,239
25,510,377
3,637,808
1,028,468
1,204,712
690,767
9,533,233
317,979
4,860
79,013,377
12 INVERSIONES LP
1,039,849
1325 Cuentas x Cobrar a Socios y Accionistas21,213,983
(LP)
99,788
5,431,399
11,182
1895 Diversos
329,397
1905 De Inversiones
3,554,275
40,196,222
90,682,241
0 TOTAL ACTIVO
169,695,618
28,843,828
22 PROVEEDORES
16,751,471
6,997,588
33,911
1,302,892
441,765
423,553
12/31/2010
absoluta
3,112,763
$ 40,543.00
887,659
$ 2,198,410.00
14,069
($ 939,862.00)
5,257,887
($ 83,194.00)
20,555,710
$ 1,142,465.00
783,888
($ 2,225,119.00)
1,102,477
$ 13,785.00
2,082
$ 1,077,819.00
37,489
$ 0.00
1,690,224
($ 26,191.00)
19,372
($ 2,048,107.00)
156,019
$ 13,254.00
2,890,952
$ 50,291.00
337,140
$ 554,540.00
261,963
$ 223,322.00
135,032
$ 40,869.00
21,996,300
$ 102,793.00
2,229,920
($ 3,514,077.00)
887,084
($ 1,407,888.00)
1,404,762
($ 141,384.00)
624,628
$ 200,050.00
11,141,833
($ 66,139.00)
322,999
$ 1,608,600.00
75,582,188
5,279,849
36,000,000
209,165
4,466,969
13,929,051
11,182
329,397
57,642,605
8,562,590
126,430,808
202,012,996
23,275,773
17,011,668
4,836,755
192,000
33,106
1,113,394
133,770
3,300
463,932
$ 5,020.00
($ 4,860.00)
($ 3,431,189.00)
$ 4,240,000.00
$ 14,786,017.00
$ 109,377.00
($ 964,430.00)
($ 4,877,095.00)
$ 0.00
$ 0.00
($ 3,554,275.00)
$ 17,446,383.00
$ 8,562,590.00
$ 35,748,567.00
$ 32,317,378.00
($ 5,568,055.00)
$ 260,197.00
($ 2,160,833.00)
$ 192,000.00
($ 805.00)
($ 189,498.00)
($ 307,995.00)
($ 495.00)
Relativa
40543
2.40433399
-0.51428246
-0.85535096
0.2776058
-0.09767507
0.0179002
43.7107227
0
-0.41129083
-0.54786668
2.16639425
0.47566397
0.23734684
1.96209738
0.18484898
3.18846738
-0.13775088
-0.38701548
-0.13747049
0.16605629
-0.09574719
0.16873604
0.01578721
-1
-0.04342542
4.0775151
0.69699391
1.09609372
-0.17756567
-0.25933517
0
0
-1
0.43403042
0.39421795
0.19044321
-0.19304147
0.01553279
-0.30879683
-0.02373861
-0.14544414
-0.69719195
-0.13043478
Analisis horizontal 2010

346,112
4,210,859
1,576,547
5,467
62,680,554
471,715
471,715
0 TOTAL PASIVO
63,152,269
31,000,000
3205 Prima en coloc. acc cuotas o partes de int.
7,342,140
s
33 RESERVAS
12,253,285
12,197,427
43,750,497
0 TOTAL PATRIMONIO
106,543,349
169,695,618
Estado de Resultaods
12/31/2009
397,991,353
61 MENOS: Costos De Ventas y De Prestacion
359,190,361
De Servicios
UTILIDAD BRUTA
38,800,992
8,072,111
52 MENOS: Gastos Operacionales De Ventas 11,104,163
19,624,718
5,259,650
6,180,032
UTILIDAD ANTES DE IMPUESTOS Y AJUSTE POR
18,704,336
INFLACION
6,506,909
12,197,427
745,615
5,448,690
1,738,897
1,388,468
13,089
56,398,457
561,874
561,874
56,960,331
31,000,000
7,342,140
24,450,712
16,054,618
66,205,195
145,052,665
202,012,996
$ 40,379.00
$ 399,503.00
$ 1,237,831.00
($ 3,869.00)
($ 188,079.00)
$ 7,622.00
($ 6,282,097.00)
$ 90,159.00
$ 90,159.00
($ 6,191,938.00)
$ 0.00
$ 0.00
$ 12,197,427.00
$ 3,857,191.00
$ 22,454,698.00
$ 38,509,316.00
$ 32,317,378.00
0.095334
1.15425931
0.29396164
-0.00222003
-0.11929806
1.39418328
-0.10022402
0.19113024
0.19113024
-0.09804775
0
0
0.99544139
0.31622989
0.51324441
0.3614427
0.19044321
12/31/2010
absoluta
Relativa
373,508,546
$ 40,543.00
40543
335,144,171
($ 24,482,807.00) -0.06151593
38,364,375
($ 24,046,190.00) -0.06694553
8,518,332
($ 436,617.00) -0.01125273
9,242,161
$ 446,221.00 0.05527934
20,603,882
($ 1,862,002.00) -0.16768504
6,349,547
$ 979,164.00 0.04989442
2,979,763
$ 1,089,897.00 0.20721854
23,973,666
($ 3,200,269.00) -0.5178402
7,919,048
$ 5,269,330.00 0.28171703
16,054,618
$ 1,412,139.00 0.21702148
$ 3,857,191.00
0.31622989
Alternativa A
DM_FORMATO
12/31/2008
1105 Caja
538,252
1110 Bancos
1,777,631
328,658
12 INVERSIONES CP
3,287,602
1305 Clientes
19,678,027
59,971
1335 Depositos
2,082
1,793,428
215,562
105,664
541,496
28,725
213,300
5,240
31,600,362
3,505,594
724,295
1,151,114
865,054
2,524,201
77,417,083
12 INVERSIONES LP
5,348,312
121,416
3,957,143
11,182
1895 Diversos
373,598
12/31/2009
914,353
1,827,521
97,263
4,115,422
22,780,829
770,103
24,658
2,082
63,680
3,738,331
6,118
105,728
2,336,412
113,818
221,094
32,239
25,510,377
3,637,808
1,028,468
1,204,712
690,767
9,533,233
317,979
4,860
79,013,377
1,039,849
21,213,983
99,788
5,431,399
18,806,146
11,182
329,397
12/31/2010
3,112,763
887,659
14,069
5,257,887
20,555,710
783,888
1,102,477
2,082
37,489
1,690,224
19,372
156,019
2,890,952
337,140
261,963
135,032
21,996,300
2,229,920
887,084
1,404,762
624,628
11,141,833
322,999
75,582,188
5,279,849
36,000,000
209,165
4,466,969
13,929,051
11,182
329,397
12/31/2008
5.818%
19.216%
3.553%
35.539%
212.718%
2.563%
0.648%
0.023%
19.387%
89.119%
2.330%
1.142%
5.854%
0.311%
2.306%
0.057%
341.598%
37.895%
7.830%
12.443%
9.351%
27.286%
0.000%
0.000%
12/31/2009
5.458%
10.910%
0.581%
24.568%
135.993%
4.597%
0.147%
0.012%
0.380%
22.316%
0.037%
0.631%
13.948%
0.679%
1.320%
0.192%
152.287%
21.716%
6.140%
7.192%
4.124%
56.910%
1.898%
0.029%
12/31/2010
18.298%
5.218%
0.083%
30.908%
120.833%
4.608%
6.481%
0.012%
0.220%
9.936%
0.114%
0.917%
16.994%
1.982%
1.540%
0.794%
129.301%
13.108%
5.215%
8.258%
3.672%
65.495%
1.899%
0.000%
57.815%
0.000%
1.312%
42.776%
316.050%
0.121%
4.039%
6.208%
126.640%
0.596%
32.423%
112.266%
0.067%
1.966%
31.037%
211.619%
1.230%
26.258%
81.879%
0.066%
1.936%
Alternativa A
1905 De Inversiones
1,947,510
32,622,577
73,618,750
0 TOTAL ACTIVO
151,035,833
39,006,482
22 PROVEEDORES
9,250,747
7,512,290
18,400
30,406
1,376,040
188,430
380,896
22,148
4,661,930
1,458,717
532
65,420,396
449,925
449,925
0 TOTAL PASIVO
65,870,321
31,000,000
s
33 RESERVAS
11,176,478
1,076,807
34,570,087
0 TOTAL PATRIMONIO
85,165,512
151,035,833
DM_FORMATO
12/31/2008
349,462,183
3,554,275
40,196,222
33,911
1,302,892
441,765
3,795
423,553
346,112
4,210,859
1,742,766
1,576,547
5,467
62,680,554
471,715
471,715
63,152,269
31,000,000
7,342,140
12,253,285
12,197,427
43,750,497
106,543,349
169,695,618
57,642,605
8,562,590
126,430,808
202,012,996
23,275,773
17,011,668
4,836,755
192,000
33,106
1,113,394
133,770
3,300
463,932
745,615
5,448,690
1,738,897
1,388,468
13,089
56,398,457
561,874
561,874
56,960,331
31,000,000
7,342,140
24,450,712
16,054,618
66,205,195
145,052,665
202,012,996
12/31/2009
397,991,353
12/31/2010
373,508,546
90,682,241
169,695,618
28,843,828
16,751,471
6,997,588
21.052%
352.648%
0.000%
21.218%
239.956%
0.000%
0.000%
338.842%
50.334%
1632.801%
97974.235%
23235.493%
18868.937%
46.216%
76.372%
3456.258%
473.288%
7.153%
956.713%
55.630%
11709.567%
3794.062%
3663.921%
1.336%
1013.404%
71790.104%
41693.143%
17416.467%
0.000%
84.402%
3242.800%
1099.520%
9.445%
1054.191%
861.447%
10480.509%
4337.613%
3923.906%
13.607%
1189.084%
57410.091%
41959.569%
11929.939%
473.571%
81.657%
2746.205%
329.946%
8.140%
1144.296%
1839.072%
13439.287%
4289.019%
3424.680%
32.284%
1130.096%
1174.063%
1385.872%
77864.014%
18441.564%
28072.434%
2704.662%
86831.153%
77156.653%
18274.031%
30497.499%
30358.472%
108891.675%
76462.028%
18109.513%
60308.098%
39598.989%
163296.241%
379363.105%
422359.545%
498268.495%
12/31/2008
12/31/2009
12/31/2010
Alternativa A
61 MENOS: Costos De Ventas y De Prestacion327,973,126

De Servicios
UTILIDAD BRUTA
21,489,057
7,409,407
52 MENOS: Gastos Operacionales De Ventas 7,878,973
6,200,677
5,246,867
9,532,870
UTILIDAD ANTES DE IMPUESTOS Y AJUSTE POR 1,914,674
INFLACION
837,867
1,076,807
359,190,361
38,800,992
8,072,111
11,104,163
19,624,718
5,259,650
6,180,032
18,704,336
6,506,909
12,197,427
335,144,171
38,364,375
8,518,332
9,242,161
20,603,882
6,349,547
2,979,763
23,973,666
7,919,048
16,054,618
6.1492%
9.7492%
10.2714%
1.774%
4.931%
5.516%
0.548%
4.700%
6.419%
DM_FORMATO
12/31/2008
1105 Caja
538,252
1110 Bancos
1,777,631
328,658
12 INVERSIONES CP
3,287,602
1305 Clientes
19,678,027
237,110
59,971
1335 Depositos
2,082
1,793,428
8,244,195
215,562
105,664
541,496
28,725
213,300
5,240
31,600,362
3,505,594
724,295
1,151,114
865,054
2,524,201
77,417,083
12 INVERSIONES LP
5,348,312
121,416
3,957,143
29,237,012
11,182
1895 Diversos
373,598
1905 De Inversiones
1,947,510
12/31/2009
914,353
1,827,521
97,263
4,115,422
22,780,829
770,103
24,658
2,082
63,680
3,738,331
6,118
105,728
2,336,412
113,818
221,094
32,239
25,510,377
3,637,808
1,028,468
1,204,712
690,767
9,533,233
317,979
4,860
79,013,377
1,039,849
21,213,983
99,788
5,431,399
18,806,146
11,182
329,397
3,554,275
12/31/2010
3,112,763
887,659
14,069
5,257,887
20,555,710
783,888
1,102,477
2,082
37,489
1,690,224
19,372
156,019
2,890,952
337,140
261,963
135,032
21,996,300
2,229,920
887,084
1,404,762
624,628
11,141,833
322,999
75,582,188
5,279,849
36,000,000
209,165
4,466,969
13,929,051
11,182
329,397
12/31/2008
12/31/2009
12/31/2010
SOLVENCIA
1.183378392 1.26057241 1.34014638
LIQUIDEZ
0.68471774 0.61928545 0.31808642
ROTACION DE CARTERA VECES AO
17.75900516 17.4704508 18.1705495
ROTCION DE CARTERA DIAS
20.27140579 20.6062227 19.8122792
METODO DIRECTO
20.27140579 20.6062227 19.8122792
ROTACION DE INVENTARIOS AO
129.9314619 37.6777071 30.0798056
DIAS
2.770691523 9.55472154 11.9681624
DIERCTO
2.770691523 9.55472154 11.9681624
CICLO OPERACIONAL
23.04209731 30.1609442 31.7804417
CUANTOS CICLOS HAY EN EL AO
15.6235778 11.9359658 11.3277217
CAPACIDAD DE PAGO A CORTO PLAZO
4.738054272 4.49013948 4.3262034
ROTACIN K TRABAJO
29.12989086 24.3675789 19.4700679
ENDEUDAMIENTO TOTAL
43.6%
37.2%
28.2%
ENDEUDAMIENTO CORTO PLAZO
99%
99%
99%
ENDEUDAMIENTO LARGO PLAZO
0.68%
0.75%
0.99%
L'AVERAGE CORTO PLAZO
77%
59%
39%
L'AVERAGE LARGO PLAZO

32,622,577
73,618,750
0 TOTAL ACTIVO
151,035,833
39,006,482
22 PROVEEDORES
9,250,747
7,512,290
18,400
30,406
1,376,040
188,430
2,848
380,896
22,148
4,661,930
1,510,530
1,458,717
532
65,420,396
449,925
449,925
0 TOTAL PASIVO
65,870,321
31,000,000
33 RESERVAS
11,176,478
1,076,807
34,570,087
0 TOTAL PATRIMONIO
85,165,512
151,035,833
DM_FORMATO
12/31/2008
349,462,183
61 MENOS: Costos De Ventas y De Prestacion De327,973,126
Servicios
UTILIDAD BRUTA
21,489,057
40,196,222
33,911
1,302,892
441,765
3,795
423,553
346,112
4,210,859
1,742,766
1,576,547
5,467
62,680,554
471,715
471,715
63,152,269
31,000,000
7,342,140
12,253,285
12,197,427
43,750,497
106,543,349
169,695,618
57,642,605
8,562,590
126,430,808
202,012,996
23,275,773
17,011,668
4,836,755
192,000
33,106
1,113,394
133,770
3,300
463,932
745,615
5,448,690
1,738,897
1,388,468
13,089
56,398,457
561,874
561,874
56,960,331
31,000,000
7,342,140
24,450,712
16,054,618
66,205,195
145,052,665
202,012,996
12/31/2009
397,991,353
359,190,361
38,800,992
12/31/2010
373,508,546
335,144,171
38,364,375
90,682,241
169,695,618
28,843,828
16,751,471
6,997,588
0.5%
0.4%
L'AVERAGE TOTAL
77%
59%
L'AVERAGA FINANCIERO
46%
27%
0.4%
39% 21
16%
20
19
18
17
16
15

7,409,407
7,878,973
6,200,677
5,246,867
9,532,870
UTILIDAD ANTES DE IMPUESTOS Y AJUSTE POR INFLACION
1,914,674
54 MENOS: Impuestos De Renta y Complementarios837,867
1,076,807
8,072,111
11,104,163
19,624,718
5,259,650
6,180,032
18,704,336
6,506,909
12,197,427
8,518,332
9,242,161
20,603,882
6,349,547
2,979,763
23,973,666
7,919,048
16,054,618
12/31/2008
0.713%
12/31/2008
1.26%
12/31/2008
0.31%
SOLVENCIA
Solvencia
Por cada peso que la empresa debe a corto plazo para 2008
tienen 1peso con 18 centavos para responder a su deuda, lo
que quiere decir que la empresa esta en capacidad de
responder con a sus obligaciones financieras.
situacin que cada vez es mejor ya que la capacidad
econmica de respuesta con evoluciona positivamente con
los aos
1.4
12/31/2008
1.35
12/31/2009
1.183378392
1.3
#########
1.26057241 1.340146
1.25
1.2
1.15
1.1
1/1/2008
1/1/2009
1/1/2010
Activo corriente
Pasivo corriente
Sovencia
12/31/2008
77,417,083
65,420,396
1.183378392
Liquidez
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
12/31/2008
0.684717745
1/1/2008
12/31/2009
79,013,377
62,680,554
1.26057241
12/31/2010
75,582,188
56,398,457
1.34014638
LIiquidez
Por cada peso que la empresa debe a corto plazo para
2008 cuenta con 68 centavos para responder a su deuda
inmediatamente, situacin preocupante ya que esta
capacidad decrece con los aos.
Sin embargo la empresa tiene probabilidad de pago solo
que debe intentar crear polticas de inversin que le
permitan disfrutar de mejores niveles de liquidez en caso
#########
0.619285449 0.318086
1/1/2009
12/31/2009
1/1/2010
Activo corriente
Parte menos liqui
Pasivo corriente
liquidez
12/31/2008
77,417,083
32,622,577
65,420,396
0.684717745
12/31/2009
79,013,377
40,196,222
62,680,554
0.619285449
12/31/2010
75,582,188
57,642,605
56,398,457
0.318086415
Rotacion de cartera
12/31/2008
17.75900516
20.27140579
21
veces ao
20
Dias
12/31/2009 ########
17.47045083 18.17055
20.60622267 19.81228
19
18
veces ao
17
Dias
Rotacin de cartera
Durante estos aos la rotacin de cartera promedio es de
15 das, es decir 2 veces al mes lo que puede ser
considerado como pagos en efectivo por lo tanto su
rotacin de cartera es ptima y se mantiene durante
estos aos
16
15
1/1/2008
1/1/2009
1/1/2010
Ventas
cuentas Xcobrar
rot carte vaces
rot carte dias
12/31/2008
349,462,183
19,678,027
17.75900516
20.27140579
12/31/2009
397,991,353
22,780,829
17.47045083
20.60622267
12/31/2010
373,508,546
20,555,710
18.1705495
19.81227921
Rotacion de inventario
140
120
12/31/2008
129.9314619
2.770691523
100
VECES
80 AO
DIAS
60
12/31/2009 ########
37.67770713 30.07981
9.554721542 11.96816
VECES AO
DIAS
40
Rotacin de Inventarios
El producto tiene una rotacin muy elevada para el ao
2008 ya que rota cada 2 das, sin embargo este proceso
durante el 2009 y el 2010 se estabiliza generando
rotaciones de inventario entre 9 y 11 das lo que
equivales semana y media aproximadamente.
En trminos generales cuenta con un buen nivel de
rotacin sin embargo la empresa podra trabajar en
mejralos para generar mejores rentabilidades
20
0
1/1/2008
1/1/2009
1/1/2010
COSTO DE VENTAS
INVENTRIO
ROT INVT VECES
ROT INVT DIAS
12/31/2008
327,973,126
2,524,201
129.9314619
2.770691523
12/31/2009
359,190,361
9,533,233
37.67770713
9.554721542
12/31/2010
335,144,171
11,141,833
30.07980563
11.96816244
Ciclo de operacional
35
30
ciclo operacoin
25
# ciclos ao
20
15
10
5
0
1/1/2008
12/31/2008
24
15
12/31/2009 ########
31
32
11.61290323
11.25
ciclo operacoin
# ciclos ao
1/1/2009
1/1/2010
Rotacion cart
rot inventarios
ciclo operacoin
# ciclos ao
12/31/2008
20.27140579
2.770691523
24
15
12/31/2009
20.60622267
9.554721542
31
11.61290323
12/31/2010
19.81227921
11.96816244
32
11.25
12/31/2008
19,678,027
15
2,524,201
65,420,396
4.550486151
12/31/2009
22,780,829
11.61290323
9,533,233
62,680,554
4.372724523
12/31/2010
20,555,710
11.25
11,141,833
56,398,457
4.297875924
Capacidad de pago a corto plazo

4.8
4.7
4.6
12/31/2008
4.738054272
4.5
12/31/2009 ########
4.490139476 4.326203
4.4
4.3
4.2
4.1
1/1/2008
1/1/2009
1/1/2010
cuentas x cobrar
ciclo opraciona
inventario
pasivo corriente
cap pago CP
35
30
25
20
15
10
5
0
Rotacion capital de trabajo

12/31/2008
29.12989086
1/1/2008
12/31/2009 ########
24.36757889 19.47007
1/1/2009
1/1/2010
ingresos ventas
activo corriente
pasivo corriente
Rota k trabajo
12/31/2008
349,462,183
77,417,083
65,420,396
29.12989086
12/31/2009
397,991,353
79,013,377
62,680,554
24.36757889
12/31/2010
373,508,546
75,582,188
56,398,457
19.47006794
12/31/2008
65,870,321
151,035,833
43.61%
12/31/2009
63,152,269
169,695,618
37.22%
12/31/2010
56,960,331
202,012,996
28.20%
Endeudamiento total
50.00%
45.00%
40.00%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
12/31/2008
43.61%
1/1/2008
12/31/2009 ########
37.22% 28.20%
1/1/2009
1/1/2010
total pasivo
total activo
Endeudam total
Endeudamiento corto plazo

99.35%
99.30%
99.25%
99.20%
99.15%
99.10%
99.05%
99.00%
98.95%
98.90%
98.85%
12/31/2008
99.32%
1/1/2008
pasivo corriente
total pasivo
pasivo no corrien
Endudami CP
Endudami PL
12/31/2009
99.25%
1/1/2009
12/31/2008
65,420,396
65,870,321
449,925
99.317%
0.683%
12/31/2010
99.01%
1/1/2010
12/31/2009
62,680,554
63,152,269
471,715
99.253%
0.747%
12/31/2010
56,398,457
56,960,331
561,874
99.014%
0.986%
Endeudamiento largo plazo

1.20%
12/31/2008
0.68%
1.00%
12/31/2009
0.75%
12/31/2010
0.99%
0.80%
0.60%
0.40%
0.20%
0.00%
1/1/2008
1/1/2009
1/1/2010
L'average
100.00%
80.00%
L'average CP
60.00% TOTAL
L'average
L'average
financi
40.00%
12/31/2008
76.82%
77.34%
45.80%
12/31/2009
58.83%
59.27%
27.07%
12/31/2010
38.88%
L'average CP
39.27%
16.05%
L'average TOTAL
L'average financi
20.00%
0.00%
1/1/2008
psivo corriente
pasivo no corriente
total pasivo
obligaciones fin
patrimonio
L'average CP
L'average LP
L'average TOTAL
L'average financi
1/1/2009
1/1/2010
12/31/2008
65,420,396
449,925
65,870,321
39,006,482
85,165,512
76.816%
0.53%
77.34%
45.80%
12/31/2009
62,680,554
471,715
63,152,269
28,843,828
106,543,349
58.831%
0.44%
59.27%
27.07%
12/31/2010
56,398,457
561,874
56,960,331
23,275,773
145,052,665
38.881%
0.39%
39.27%
16.05%
L'averge corto plazo
12/31/2008
0.60%
0.53%
12/31/2009
0.44%
12/31/2010
0.39%
0.40%
0.20%
0.00%
1/1/2008
1/1/2009
1/1/2010
12/31/2008
9.000%
0.713%
8.000%
7.000%
6.000%
5.000%
4.000%
3.000%
2.000%
1.000%
0.000%
1/1/2008
ROA/ROI
12/31/2009
7.188%
1/1/2009
12/31/2010
7.947%
14.00%
10.00%
1.26%
12/31/2009
11.45%
12/31/2010
11.07%
8.00%
6.00%
4.00%
2.00%
0.00%
1/1/2008
1/1/2009
12/31/2008
1,076,807
151,035,833
0.713%
12/31/2009
12,197,427
169,695,618
7.188%
12/31/2010
16,054,618
202,012,996
7.947%
Utlidaes netas
patrimonio
ROE
12/31/2008
1,076,807
85,165,512
1.26%
12/31/2009
12,197,427
106,543,349
11.45%
12/31/2010
16,054,618
145,052,665
11.07%
1/1/2010
ROE
12.00%12/31/2008
Utilidaes netas
Total activoa
ROA /ROI
1/1/2010
12/31/2008
5.00%
4.50%
0.31%
ROS
12/31/2009
3.06%
12/31/2010
4.30%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
1/1/2008
1/1/2009
1/1/2010
Utlidaes netas
Ventas
ROS
12/31/2008
1076807
349,462,183
0.31%
12/31/2009
12197427
397,991,353
3.06%
12/31/2010
16054618
373,508,546
4.30%
Maduracion de las acreencias

Paricipacion
ACTIVO CORRIENTE
DIA
12/31/2008
12/31/2009
12/31/2010
59.624%
46.017%
41.270% 360
22 PROVEEDORES
14.140%
26.725%
30.163% 60
11.483%
11.164%
8.576% 30
0.028%
0.000%
0.340% 20
0.046%
0.054%
0.059% 60
2.103%
2.079%
1.974% 45
0.288%
0.705%
0.237% 45
2368 Impuesto de Industria y Comercio Retenido 0.004%
0.006%
0.006% 45
0.582%
0.676%
0.823% 45
0.034%
0.552%
1.322% 30
7.126%
6.718%
9.661% 45
2.309%
2.780%
3.083% 30
2.230%
2.515%
2.462% 60
0.001%
0.009%
0.023% 60
100.000%
100.000%
100.000%
Maduracion
de las acreencias
12/31/2008
12/31/2009 acorto
12/31/2010
243
201
217
plazo
300
250
200
150
100
50
0
1/1/2008
1/1/2009
1/1/2010
Maduracion promedio ponderada

12/31/2008 12/31/2009 12/31/2010
215
166
149
9
17
49
4
4
3
1
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
4
4
5
1
1
1
2
2
2
1
1
1
243
201
217
12/31/2008
24
243
-219
ciclo opera
ciclo madura
cap estruct CP
12/31/2009
31
201
-170
12/31/2010
32
217
-185
Capacidad estructural de pago corto

plazo
250
200
12/31/2008
219
150
12/31/2009
170
12/31/2010
185
Series1
100
50
0
1/1/2008
1/1/2009
1/1/2010

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DM_FORMATO

Alternativa A activos 2009

Alternativa A activos 2010

Alternativa A activos 2008

Cuentas por cobrar

Cuentas por cobrar

Cuntas por cobrar 13.425%

Planat y equipo neto

Cuntas por cobrar

capital suscrito pag

Alternativa A pasivo-patrimonio 2009

Alternativa A pasivo- patrimonio 2010

capital suscrito pag

capital suscrito pag

cuentas por cobrar a

Alternativa B activo no corrientee 2009

propiedades planta equipo

Alternativa B pasivo corriente 2008

Alternativa B pasivo corriente 200

Gatos xpagar corto plazo

Alternativa B patrimonio 2008

Capital susrcrito pagado

Alternativa B patrimonio 200

Capital susrcrito pagado

Alternativa B activo corriente 2010

Alternativa B activio no corriente 2010

propiedades planta equipo

cuentas por cobrar socios

Alternativa B pasivo corriente 2010

Gatos xpagar corto plazo

tiva B patrimonio 2009

Alternativa B patrimonio 2010

Capital susrcrito pagado

Alternativas c activos 2009

Pasivo corririente 36.937%

Alternativa C Pasivo-patrimonio 2008

Alternativa c activos 2010

Pasivo corririente 27.918%

Alternativa C pasivo-patrimonio 2009

Alternativa C pasivo patrimonio

Analisis Horizontal 2009

Analisis Horizontal 2009

Analisis Horizontal 2009

1405 Materias Primas

Analisis Horizontal 2009

Pensiones de Jubilacion (LP)

SUPERAVIT POR VALORIZACIONES

Analisis Horizontal 2009

1405 Materias Primas

Analisis Horizontal 2009

Analisis Horizontal 2009

1405 Materias Primas

Analisis Horizontal 2009

Estado de cambio en la posicion financiera 2009

Estado de cambio en la posicion financiera 2009

Estado de cambio 2010

Estado de cambio 2010

Capital trabajo 2009

Capital de trabajo 2010

Analisis horizontal 2010

Analisis horizontal 2010

61 MENOS: Costos De Ventas y De Prestacion327,973,126

1910 De Propiedades Planta y Equipo