Toolux Sanding S A : Rapport de gestion 2020

B.C.R.H. & Associés

Société d'Expertise Comptable et de Commissariat aux Comptes

Toolux Sanding SA

3B, boulevard du Prince Henri

L-1724 Luxembourg

RCS Luxembourg B 142 041

INDEPENDENT AUDITOR'S

REVIEW REPORT

CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2020

SARL au capital de 1 300 000 Euros - 35 rue de Rome - 75008 PARIS - Tél : [phone] - Fax : [phone]

RCS PARIS B 490 092 574

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(euros)

TOOLUX SANDING SA

ITEMS	NOTE	From January 1, 2020	From January 1, 2019
to December 31,2020	to December 31,2019
SALES OF MAIN OPERATIONS	IV(II) (1)	14	502	616	16	078 278
Less:cost of main operations	IV(II) (2)	-11	892	797	-13	516 636
GROSS PROFIT		2 609 819	2 561 642

Add: Income from other operations	IV(II) (3)	185	034	178 013
Less: Selling	expenses	IV(II) (4)	-267 819	-300 824
Less: General	and administrative expenses	IV(II)	(5)	-1 875	242	-2 509 299
Less: Financial expenses	IV(II)	(6)	-798	936	-858 551
OPERATING INCOME			-147 144	-929 019

Investment income(loss expressed with "-")		10	297	-3 582 724
Non-operating income	IV(II) (7)	29	024	86 400
Less:Sales tax and additions		-68	270	-36 331
Less:Non-operating expenses	IV(II) (8)		-815	-12 542
PROFIT BEFORE TAX (LOSS EXPRESSED WITH "-")		-176 908	-4 474 216
Less: Income tax			-373	-7 583
TOTAL COMPREHENSIVE INCOME FOR THE YEAR		-177 281	-4 481 799

PROFIT PER SHARE (BASIC AND DILUTED)

-0,10

-2,56

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(euros)

From January 1, 2020 to December 31, 2020

TOOLUX SANDING SA

ITEMS	NOTE	December 31,2020	December 31,2019
NON CURRENT ASSETS :
Property, plant and equipment	IV(I) (6)	9 008 166	9 197 128
Less:Accumulated depreciation	IV(I) (6)	-6 149 511	-5 917 396
Property, plant and equipment (net value)	IV(I) (6)	2 858 655	3 279 732
Intangible assets	IV(I) (7)	328 399	346 967
Long-term investment		153 160	156 930
Long-term prepaid assets		9 654	15 146
Deferred tax assets
TOTAL NON CURRENT ASSETS		3 349 868	3 798 775
CURRENT ASSETS:
Inventories	IV(I) (5)	982 781	2 724 509
Trade debtors	IV(I) (2)	2 336 069	1 307 605
Other receivable	IV(I) (3)	6 609 892	7 007 949
Advances to suppliers	IV(I) (4)	4 669 967	4 634 812
Cash and cash equivalents	IV(I) (1)	7 229 373	5 904 951
TOTAL CURRENT ASSETS		21 828 082	21 579 826
TOTAL ASSETS		25 177 950	25 378 601
CURRENT LIABILITIES:
Bank borrowings	IV(I) (8)	11 456 383	13 681 990
Notes payable	IV(I) (9)	1 247 972
Trade creditors	IV(I) (10)	3 177 382	1 847 823
Advances received from customers	IV(I) (11)	271 637	610 406
Welfare benefits payable		126 839	173 704
Taxes payable	IV(I) (12)	65 123	98 048
Other levies payable		6 496	7 497
Other payable	IV(I) (13)	3 150 347	2 928 671
TOTAL CURRENT LIABILITIES		19 502 179	19 348 139
OWNERS'/SHAREHOLDERS' EQUITY
Subscribed capital		1 753 667	1 753 667
Other reserves		1 532 602	1 709 883
Exchange differences on translating foreign operations		2 389 502	2 566 912
TOTAL OWNERS' EQUITY		5 675 771	6 030 462
Non-controlling interests

TOTAL LIABILITIES & OWNERS' EQUITY	25 177 950	25 378 601