Toolux Sanding S A : Rapport de gestion 2021

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, 2021

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

RCS PARIS B 490 092 574

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(euros)

TOOLUX SANDING SA

From January 1, 2021	From January 1, 2020
to December 31,2021	to December 31,2020

SALES OF MAIN OPERATIONS

PROFIT BEFORE TAX (LOSS EXPRESSED WITH "-")	-861 175	-176 908
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	-868 981	-177 281

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(euros)

From January 1, 2020 to December 31, 2021

TOOLUX SANDING SA

ITEMS	NOTE	December 31,2021	December 31,2020
NON CURRENT ASSETS :
Property, plant and equipment	IV(I) (6)	11 018 399	9 008 166
Less:Accumulated depreciation	IV(I) (6)	-7 131 075	-6 149 511
Property, plant and equipment (net value)	IV(I) (6)	3 887 324	2 858 655
Intangible assets	IV(I) (7)	354 352	328 399
Long-term investment		115 977	153 160
Long-term prepaid assets		84 939	9 654
Deferred tax assets
TOTAL NON CURRENT ASSETS		4 442 592	3 349 868
CURRENT ASSETS:
Inventories	IV(I) (5)	834 284	982 781
Trade debtors	IV(I) (2)	2 222 231	2 336 069
Other receivable	IV(I) (3)	9 774 212	6 609 892
Advances to suppliers	IV(I) (4)	5 144 096	4 669 967
Cash and cash equivalents	IV(I) (1)	9 394 647	7 229 373
TOTAL CURRENT ASSETS		27 369 470	21 828 082
TOTAL ASSETS		31 812 062	25 177 950
CURRENT LIABILITIES:
Bank borrowings	IV(I) (8)	13 725 381	11 456 383
Notes payable	IV(I) (9)	1 389 912	1 247 972
Trade creditors	IV(I) (10)	6 833 461	3 177 382
Advances received from customers	IV(I) (11)	868 750	271 637
Welfare benefits payable		156 807	126 839
Taxes payable	IV(I) (12)	98 195	65 123
Other levies payable		12 083	6 496
Other payable	IV(I) (13)	3 165 040	3 150 347
TOTAL CURRENT LIABILITIES		26 249 629	19 502 179
OWNERS'/SHAREHOLDERS' EQUITY
Subscribed capital		1 753 667	1 753 667
Other reserves		663 620	1 532 602
Exchange differences on translating foreign operations		3 145 146	2 389 502
TOTAL OWNERS' EQUITY		5 562 433	5 675 771
Non-controlling interests

TOTAL LIABILITIES & OWNERS' EQUITY	31 812 062	25 177 950