PROJECTED CASH PLAN

2018-2019 PERIOD

SECTIONS 0I 1st year 2nd year 3rd year 4th year 5th year 6th year

COLLECTIONS (I) seed money

Availability Bank in early period - 23,267.64 € 18,297.44 € 200,428.06 € 251,951.63 € 290,410.76 € 315,643.88 €

new capital - € - - - - - -
new loans 167,513.00 € - - - - - -
Augmtat ° other capit - € - - - - - -
EBE 76,809.70 € 217,299.00 € 93,340.09 € 104,310.35 € 116,452.27 € 125,374.05 €
financed products. (Inter / Treasury) 5% - € 76.24 € 1,049.80 € 1,210.04 € 1,315.18 €

TOTAL RECEIPTS 167,513.00 € 53,542.06 € 235,672.68 € 293,768.15 € 357,311.77 € 408,073.08 € 442,333.11 €

DISBURSEMENTS (II)

Acquisition immobilized. 131,810.19 € - - - - - -

Rembours.emprunts 35,244.62 € 35,244.62 € 35,244.62 € 35,244.62 € 35,244.62 € 35,244.62 € 35,244.62 €

Rbrs.frais financed. (Internal / Loan) - - - - - - -

funded loads. (internal / Cash) 5% -

VAT to be paid back 23,725.83 € - € 6,571.90 € 31,656.39 € 57,184.58 € 83,165.62 €

BIC taxes (MFI) - €
dividends paid - €

DISBURSEMENTS TOTAL 190,780.64 € 35,244.62 € 35,244.62 € 41,816.52 € 66,901.01 € 92,429.20 € 118,410.24 €

NET CASH (III)

Cash balance (I-II) - 23,267.64 € 18,297.44 € 200,428.06 € 251,951.63 € 290,410.76 € 315,643.88 € 323,922.87 €

Rate Cash interest (financial products) 0.05

Distribution of dividends (Shareholders) / Net Profit 0.80 payable 6 months of the year; if net profit> 10% of the share capital
Retained earnings / Net Profit 0.20 Net profit carried forward to the following year
 FIXED OPERATING EXPENSES (EN EUROS)

PERIOD 2018 - 2019

SECTIONS 1 month 2nd month 3rd month 4th month 5th month 6th month

rent 604.00 604.00 604.00 604.00 604.00 604.00

electricity 377.50 377.50 377.50
Water 151.00 151.00 -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software 218.95 - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80
transportation staffing 188.75 188.75 188.75 188.75 188.75 188.75

- - - - - -

- - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00

Opening Fresh & launch 528.50 - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 17,214.00 17,214.00 17,214.00

Social charges (CNPS, etc.) 312.00 312.00 312.00 3,744.05 3,744.05 3,744.05

Dues and taxes 17.21 17.21 17.21 206.57 206.57 206.57

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47

TOTAL FIXED CHARGES OF explotation 5,402.19 4,126.24 4,503.74 23,678.13 23,904.63 23,527.13
 FIXED OPERATING EXPENSES (EN EUROS)

PERIOD 2018 - 2019

SECTIONS 7th month 8th month 9th month 10th month 11th month 12th month TOTAL

rent 604.00 604.00 604.00 604.00 604.00 604.00 3,624.00

electricity 377.50 377.50 377.50 1,132.50
Water 151.00 151.00 302.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00 2,718.00
Subscription management software - - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00 906.00
- - - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50 1,359.00
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80 724.80
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75 1,132.50

- - - - - - -

- - - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00

Opening Fresh & launch - - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 8,607.00

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45 860.70

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21 103.26

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47 86.82

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68 25,180.58
 FIXED OPERATING EXPENSES (EN EUROS)

PERIOD 2018 - 2019

SECTIONS 13th month 14th month 15th month 16th month 17th month 18th month

rent 604.00 604.00 604.00 604.00 604.00 604.00

electricity 377.50 377.50 377.50
Water 151.00 151.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80
transportation staffing 188.75 188.75 188.75 188.75 188.75 188.75

- - - - - -

- - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00

Opening Fresh & launch - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68
 FIXED OPERATING EXPENSES (EN EUROS)

PERIOD 2018 - 2019

SECTIONS 19th month 20th month 21th month 22th month 23th month 24th month TOTAL

rent 604.00 604.00 604.00 604.00 604.00 604.00 3,624.00

electricity 377.50 377.50 377.50 1,132.50
Water 151.00 151.00 302.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00 2,718.00
Subscription management software - - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00 906.00
- - - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50 1,359.00
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80 724.80
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75 1,132.50

- - - - - - -

- - - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00

Opening Fresh & launch - - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 8,607.00

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45 860.70

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21 103.26

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47 86.82

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68 25,180.58
 FIXED OPERATING EXPENSES (EN EUROS)

2020-2021 PERIOD

SECTIONS 25th month 26th month 27th month 28th month 29th month 30th month

rent 604.00 604.00 604.00 604.00 604.00 604.00

electricity 377.50 377.50 377.50
Water 151.00 151.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75

- - - - - -

- - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00

Opening Fresh & launch - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68
 FIXED OPERATING EXPENSES (EN EUROS)

PERIOD 2018 - 2019

SECTIONS 31th month 32th month 33th month 34th month 35th month 36th month TOTAL

rent 604.00 604.00 604.00 604.00 604.00 604.00 3,624.00

electricity 377.50 377.50 377.50 1,132.50
Water 151.00 151.00 302.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00 2,718.00
Subscription management software - - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00 906.00
- - - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50 1,359.00
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80 724.80
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75 1,132.50

- - - - - - -

- - - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00

Opening Fresh & launch - - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 8,607.00

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45 860.70

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21 103.26

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47 86.82

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68 25,180.58
 FIXED OPERATING EXPENSES (EN EUROS)

2021-2022 PERIOD

SECTIONS 37th month 38th month 39th month 40th month 41st month 42 months

rent 604.00 604.00 604.00 604.00 604.00 604.00

electricity 377.50 377.50 377.50
Water 151.00 151.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75

- - - - - -

- - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00

Opening Fresh & launch - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68
 FIXED OPERATING EXPENSES (EN EUROS)

2021-2022 PERIOD

SECTIONS 43rd month 44th month 45th month 46th month 47th month 48th month TOTAL

rent 604.00 604.00 604.00 604.00 604.00 604.00 3,624.00

electricity 377.50 377.50 377.50 1,132.50
Water 151.00 151.00 302.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00 2,718.00
Subscription management software - - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00 906.00
- - - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50 1,359.00
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80 724.80
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75 1,132.50

- - - - - - -

- - - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00

Opening Fresh & launch - - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 8,607.00

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45 860.70

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21 103.26

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47 86.82

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68 25,180.58
 FIXED OPERATING EXPENSES (EN EUROS)

2022-2023 PERIOD

SECTIONS 49th month 50th month 51st month 52nd month 53 months 54th month

rent 604.00 604.00 604.00 604.00 604.00 604.00

electricity 377.50 377.50 377.50
Water 151.00 151.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75

- - - - - -

- - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00

Opening Fresh & launch - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68
 FIXED OPERATING EXPENSES (EN EUROS)

2022-2023 PERIOD

SECTIONS 55th month 56th month 57th month 58th month 59th month 60th month TOTAL

rent 604.00 604.00 604.00 604.00 604.00 604.00 3,624.00

electricity 377.50 377.50 377.50 1,132.50
Water 151.00 151.00 604.00
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00 2,718.00
Subscription management software - - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00 906.00
- - - - - - -
Law Office, Tax Lawyer 226.50 226.50 226.50 226.50 226.50 226.50 1,359.00
Accounting firm 120.80 120.80 120.80 120.80 120.80 120.80 724.80
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75 1,132.50

- - - - - - -

- - - - - - -

casualty 302.00 302.00 302.00 302.00 302.00 302.00 1,812.00

Opening Fresh & launch - - - - - - -

Salaries of staff 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 1,434.50 8,607.00

Social charges (CNPS, etc.) 143.45 143.45 143.45 143.45 143.45 143.45 860.70

Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21 103.26

Other unexpected tax charges 14.47 14.47 14.47 14.47 14.47 14.47 86.82

TOTAL FIXED CHARGES OF explotation 4,486.18 3,957.68 4,335.18 4,108.68 4,335.18 3,957.68 25,482.58
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 1 month 2nd month 3rd month 4th month 5th month 6th month
REVENUE
CLINICAL 13,630.45 13,698.15 13,698.60 13,767.09 13,835.94 13,835.94

Turnover (sales) (in CFAF) 13,630.45 13,698.15 13,698.60 13,767.09 13,835.94 13,835.94

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.18 0.18 0.18 0.18 0.18 0.18
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 377.50 - 377.50 -
Water 151.00 151.00 - -
Office supplies 302.00 151.00 151.00 151.00 151.00 151.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software 218.95 - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 17.21 17.21 17.21 17.21 17.21 17.21
Other tax charges Contingencies 14.47 14.47 14.47 14.47 14.47 14.47
TOTAL OTHER EXPENSES AND SERVICES 3,655.68 2,757.23 3,134.73 2,908.23 3,134.73 2,757.23
Fillers & Svces / CA Percent 0.27 0.20 0.23 0.21 0.23 0.20

Added value (VA) 7,542.69 8,508.84 8,131.79 8,426.78 8,269.13 8,646.63

Percentage VA / CA 0.55 0.62 0.59 0.61 0.60 0.62
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.13 0.13 0.13 0.13 0.13 0.13
Budget surplus Gross operating (EBE) 5,781.55 6,747.70 6,370.65 6,665.64 6,507.99 6,885.49
Percentage EBITDA / Sales 0.42 0.49 0.47 0.48 0.47 0.50
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5% 289.08 337.38 318.53 333.28 325.40 344.27
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan 1,116.61 Err:508 Err:508 1,080.11 1,067.72 1,055.26
Amortization of investments 1,820.07 Err:508 Err:508 Err:508 Err:508 Err:508
funded loads. (internal / Cash) 5% - 338,209.99
Gross profit before taxes 3,133.94 Err:508 Err:508 Err:508 Err:508 Err:508
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 783.49 Err:508 Err:508 Err:508 Err:508 Err:508
Net income after taxes (ROE Net) 2,350.46 Err:508 Err:508 Err:508 Err:508 Err:508
Percentage Net RE / CA 0.17 Err:508 Err:508 Err:508 Err:508 Err:508
Σ Earnings 2,350.46 Err:508 Err:508 Err:508 Err:508 Err:508
CAF (CASH FLOW) 4,170.53 Err:508 Err:508 Err:508 Err:508 Err:508
Percentage CAF / CA 0.31 Err:508 Err:508 Err:508 Err:508 Err:508
Σ CAF (CASH FLOW) 4,170.53 Err:508 Err:508 Err:508 Err:508 Err:508

TAXES A BIC REVERSER

2018-2019 PERIOD
SECTIONS 1st year 2nd Year 3rd Year 4th Year 5th Year 6th Year

Rate income tax (BIC) RN 0.25 MFIs

Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 609.06 Err:508 Err:508 Err:508 Err:508 Err:508

A VAT RETURN TO THE STATE

2018-2019 PERIOD
SECTIONS 1st year 2nd year 3rd year 4th year 5th year Grade 6
VAT Reverser / Purchasing & Svce 1,363.39 1,537.29 1,469.42 1,522.52 1,494.15 1,562.10
deductible VAT / Purchases immobilizate ° 23,725.83 - - - - -
VAT Reverser / Purchases 25,089.22 26,626.51 28,095.93 29,618.46 31,112.60 32,674.70

Dividend Distribution (Associates) / 80% Net Profit

2018-2019 PERIOD
SECTIONS 1st year 2nd Year 3rd Year 4th Year 5th Year 6th Year

distribution rate of profit 0.80 profit distributed among partners

Dividends (Associates) / 80% Net Profit 1,880.37 Err:508 Err:508 Err:508 Err:508 Err:508
deductible VAT / Purchases immobilizate ° - 23,725.83 - - - - -
VAT Reverser / Purchases - 21,845.47 Err:508 Err:508 Err:508 Err:508 Err:508

Dividend Distribution (Associates) / 80% Net Profit

2018-2019 PERIOD
SECTIONS 1 month 2nd month 3rd month 4th month 5th month 6th month
distribution rate of profit 0.80 profit distributed among partners
Dividends (Associates) / 80% Net Profit - - - - - -
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 7th month 8th month 9th month 10th month 11th month 12th month
REVENUE
CLINICAL 13,859.68 13,928.97 13,998.62 13,998.62 14,068.63 14,138.96

Turnover (sales) (in CFAF) 13,859.68 13,928.97 13,998.62 13,998.62 14,068.63 14,138.96

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.18 0.17 0.17 0.17 0.17 0.17
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVICES 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.27 0.23 0.26 0.24 0.26 0.23

Added value (VA) 7,640.94 8,238.73 7,930.88 8,157.38 8,000.89 8,448.72

Percentage VA / CA 0.55 0.59 0.57 0.58 0.57 0.60
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.13 0.13 0.13 0.13 0.13 0.12
Budget surplus Gross operating (EBE 5,879.80 6,477.59 6,169.74 6,396.24 6,239.75 6,687.58
Percentage EBITDA / Sales 0.42 0.47 0.44 0.46 0.44 0.47
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5% - - - - - -
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan 1,042.71 1,030.09 1,017.37 1,004.67 991.69 978.72
Amortization of investments 1,894.33 1,906.96 1,919.67 1,932.47 1,945.35 1,958.32
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 2,942.76 3,540.54 3,232.70 3,459.10 3,302.71 3,750.54
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 735.69 885.14 808.18 864.78 825.68 937.64
Net income after taxes (ROE Net) 2,207.07 2,655.40 2,424.53 2,594.33 2,477.03 2,812.90
Percentage Net RE / CA 0.16 0.19 0.17 0.19 0.18 0.20
Σ Earnings 2,207.07 4,862.48 7,287.00 9,881.33 12,358.36 15,171.26
CAF (CASH FLOW) 4,101.40 4,562.37 4,344.20 4,526.80 4,422.38 4,771.22
Percentage CAF / CA 0.30 0.33 0.31 0.32 0.31 0.34
Σ CAF (CASH FLOW) 4,101.40 8,663.77 13,007.96 17,534.76 21,957.14 26,728.36
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 13th month 14th month 15th month 16th month 17th month 18th month
REVENUE
CLINICAL 14,209.65 14,280.70 14,352.11 14,423.87 14,495.99 14,768.47

Turnover (sales) (in CFAF) 14,209.65 14,280.70 14,352.11 14,423.87 14,495.99 14,768.47

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.17 0.17 0.17 0.17 0.17 0.16
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVICES 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.27 0.23 0.25 0.24 0.25 0.22

Added value (VA) 7,990.91 8,590.46 8,284.37 8,582.63 8,428.25 9,078.23

Percentage VA / CA 0.56 0.60 0.58 0.60 0.58 0.61
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.12 0.12 0.12 0.12 0.12 0.12
Budget surplus Gross operating (E 6,229.77 6,829.32 6,523.23 6,821.49 6,667.11 7,317.09
Percentage EBITDA / Sales 0.44 0.48 0.45 0.47 0.46 0.50
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5% - - - - - 365.85
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan 965.67 952.52 939.29 925.98 912.57 899.07
Amortization of investments 1,971.37 1,984.52 1,997.75 2,011.07 2,024.47 2,037.97
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 3,292.73 3,892.28 3,586.19 3,884.44 3,730.07 4,745.90
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 823.18 973.07 896.55 971.11 932.52 1,186.48
Net income after taxes (ROE Net) 2,469.55 2,919.21 2,689.64 2,913.33 2,797.55 3,559.43
Percentage Net RE / CA 0.17 0.20 0.19 0.20 0.19 0.24
Σ Earnings 2,469.55 5,388.76 8,078.40 10,991.73 13,789.28 17,348.71
CAF (CASH FLOW) 4,440.92 4,903.73 4,687.39 4,924.40 4,822.02 5,597.40
Percentage CAF / CA 0.31 0.34 0.33 0.34 0.33 0.38
Σ CAF (CASH FLOW) 4,440.92 9,344.65 14,032.04 18,956.44 23,778.46 29,375.86
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 19th month 20th month 21 th month 22 th month 23 th month 24th month
REVENUE
CLINICAL 14,641.31 14,714.67 14,788.09 14,862.33 149,036.35 15,011.02

Turnover (sales) (in CFAF) 14,641.31 14,714.67 14,788.09 14,862.33 149,036.35 15,011.02

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.17 0.17 0.16 0.16 0.02 0.16
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVICES 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.26 0.22 0.25 0.23 0.02 0.22

Added value (VA) 8,422.57 9,024.43 8,720.35 9,021.09 142,968.61 9,320.78

Percentage VA / CA 0.58 0.61 0.59 0.61 0.96 0.62
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.12 0.12 0.12 0.12 0.01 0.12
Budget surplus Gross operating (EB 6,661.43 7,263.29 6,959.21 7,259.95 141,207.47 7,559.64
Percentage EBITDA / Sales 0.45 0.49 0.47 0.49 0.95 0.50
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5% - - - - - 377.98
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan 885.49 871.81 858.04 844.18 830.23 816.18
Amortization of investments 2,051.56 2,065.23 2,079.00 2,092.86 2,106.81 2,120.86
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 3,724.38 4,326.25 4,022.17 4,322.91 138,270.43 5,000.58
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 931.10 1,081.56 1,005.54 1,080.73 34,567.61 1,250.15
Net income after taxes (ROE Net) 2,793.29 3,244.69 3,016.63 3,242.18 103,702.82 3,750.44
Percentage Net RE / CA 0.19 0.22 0.20 0.22 0.70 0.25
Σ Earnings 2,793.29 6,037.97 9,054.60 12,296.78 115,999.61 119,750.04
CAF (CASH FLOW) 4,844.85 5,309.92 5,095.63 5,335.04 105,809.63 5,871.30
Percentage CAF / CA 0.33 0.36 0.34 0.36 0.71 0.39
Σ CAF (CASH FLOW) 4,844.85 10,154.76 15,250.39 20,585.43 126,395.07 132,266.36
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 25th month 26th month 27th month 28th month 29th month 30th month
REVENUE
CLINICAL 15,083.02 15,161.50 15,237.29 15,313.50 15,390.08 15,467.02

Turnover (sales) (in CFAF) 15,083.02 15,161.50 15,237.29 15,313.50 15,390.08 15,467.02

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.16 0.16 0.16 0.16 0.16 0.16
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVICES 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.25 0.21 0.24 0.22 0.24 0.21

Added value (VA) 8,864.28 9,471.26 9,169.55 9,472.26 9,322.34 9,776.78

Percentage VA / CA 0.59 0.62 0.60 0.62 0.61 0.63
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.12 0.12 0.12 0.12 0.11 0.11
Budget surplus Gross operating (E 7,103.14 7,710.12 7,408.41 7,711.12 7,561.20 8,015.64
Percentage EBITDA / Sales 0.47 0.51 0.49 0.50 0.49 0.52
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5% - - - - - 400.78
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan 802.04 787.81 2,163.56 759.06 744.54 729.92
Amortization of investments 2,135.00 2,149.23 2,163.56 2,177.98 2,192.50 2,207.12
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 4,166.10 4,773.08 3,081.29 4,774.08 4,624.16 5,479.38
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 1,041.53 1,193.27 770.32 1,193.52 1,156.04 1,369.85
Net income after taxes (ROE Net) 3,124.58 3,579.81 2,310.97 3,580.56 3,468.12 4,109.54
Percentage Net RE / CA 0.21 0.24 0.15 0.23 0.23 0.27
Σ Earnings 3,124.58 6,704.39 9,015.35 12,595.91 16,064.03 20,173.57
CAF (CASH FLOW) 5,259.58 5,729.04 4,474.53 5,758.54 5,660.62 6,316.66
Percentage CAF / CA 0.35 0.38 0.29 0.38 0.37 0.41
Σ CAF (CASH FLOW) 5,259.58 10,988.62 15,463.14 21,221.68 26,882.30 33,198.96
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 31 th month 32 th month 33 th month 34th month 35th month 36th month
REVENUE
CLINICAL 15,467.02 15,544.35 15,622.06 15,700.19 15,780.36 15,859.26

Turnover (sales) (in CFAF) 15,467.02 15,544.35 15,622.06 15,700.19 15,780.36 15,859.26

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.16 0.16 0.16 0.15 0.15 0.15
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVICES 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.24 0.21 0.23 0.22 0.23 0.21

Added value (VA) 9,248.28 9,854.11 9,554.32 9,858.95 9,712.62 10,169.02

Percentage VA / CA 0.60 0.63 0.61 0.63 0.62 0.64
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.11 0.11 0.11 0.11 0.11 0.11
Budget surplus Gross operating (EBE 7,487.14 8,092.97 7,793.18 8,097.81 7,951.48 8,407.88
Percentage EBITDA / Sales 0.48 0.52 0.50 0.52 0.50 0.53
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5% - - - - - 420.39
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan 715.21 700.40 685.48 670.47 655.36 640.15
Amortization of investments 2,221.83 2,236.65 2,251.56 2,266.57 2,281.68 2,296.89
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 4,550.10 5,155.92 4,856.14 5,160.77 5,014.44 5,891.23
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 1,137.53 1,288.98 1,214.04 1,290.19 1,253.61 1,472.81
Net income after taxes (ROE Net) 3,412.58 3,866.94 3,642.11 3,870.58 3,760.83 4,418.43
Percentage Net RE / CA 0.22 0.25 0.23 0.25 0.24 0.28
Σ Earnings 3,412.58 7,279.52 10,921.62 14,792.20 18,553.03 22,971.45
CAF (CASH FLOW) 5,634.41 6,103.59 5,893.67 6,137.15 6,042.51 6,715.32
Percentage CAF / CA 0.36 0.39 0.38 0.39 0.38 0.42
Σ CAF (CASH FLOW) 5,634.41 11,738.00 17,631.66 23,768.81 29,811.32 36,526.63
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 37th month 38th month 39th month 40th month 41 th month 42 th month
REVENUE
CLINICAL 15,938.56 16,018.27 16,098.34 16,178.84 16,244.49 16,341.03

Turnover (sales) (in CFAF) 15,938.56 16,018.27 16,098.34 16,178.84 16,244.49 16,341.03

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.15 0.15 0.15 0.15 0.15 0.15
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVICES 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.24 0.20 0.23 0.21 0.22 0.20

Added value (VA) 9,719.82 10,328.03 10,030.60 10,337.60 10,176.75 10,650.79

Percentage VA / CA 0.61 0.64 0.62 0.64 0.63 0.65
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.11 0.11 0.11 0.11 0.11 0.11
Budget surplus Gross operating (EB 7,958.68 8,566.89 8,269.46 8,576.46 8,415.61 8,889.65
Percentage EBITDA / Sales 0.50 0.53 0.51 0.53 0.52 0.54
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5% - - - - - 444.48
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan - - - - - -
Amortization of investments 2,937.05 2,937.05 2,937.05 2,937.05 2,937.05 2,937.05
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 5,021.63 5,629.84 5,332.41 5,639.41 5,478.56 6,397.08
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 1,255.41 1,407.46 1,333.10 1,409.85 1,369.64 1,599.27
Net income after taxes (ROE Net) 3,766.22 4,222.38 3,999.31 4,229.56 4,108.92 4,797.81
Percentage Net RE / CA 0.24 0.26 0.25 0.26 0.25 0.29
Σ Earnings 3,766.22 7,988.60 11,987.91 16,217.47 20,326.39 25,124.20
CAF (CASH FLOW) 6,703.27 7,159.43 6,936.36 7,166.61 7,045.97 7,734.86
Percentage CAF / CA 0.42 0.45 0.43 0.44 0.43 0.47
Σ CAF (CASH FLOW) 6,703.27 13,862.70 20,799.06 27,965.67 35,011.64 42,746.50
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 43 th month 44th month 45th month 46th month 47th month 48th month
REVENUE
CLINICAL 16,422.73 16,504.85 16,587.38 16,670.31 16,753.67 16,837.44

Turnover (sales) (in CFAF) 16,422.73 16,504.85 16,587.38 16,670.31 16,753.67 16,837.44

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.15 0.15 0.15 0.15 0.15 0.14
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVICES 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.23 0.20 0.22 0.20 0.22 0.19

Added value (VA) 10,203.99 10,814.61 10,519.64 10,829.07 10,685.93 11,147.20

Percentage VA / CA 0.62 0.66 0.63 0.65 0.64 0.66
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.11 0.11 0.11 0.11 0.11 0.10
Budget surplus Gross operating (EB 8,442.85 9,053.47 8,758.50 9,067.93 8,924.79 9,386.06
Percentage EBITDA / Sales 0.51 0.55 0.53 0.54 0.53 0.56
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5% - - - - - -
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan - - - - - -
Amortization of investments 2,937.05 2,937.05 2,937.05 2,937.05 2,937.05 2,937.05
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 5,505.80 6,116.42 5,821.45 6,130.88 5,987.74 6,449.01
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 1,376.45 1,529.10 1,455.36 1,532.72 1,496.93 1,612.25
Net income after taxes (ROE Net) 4,129.35 4,587.32 4,366.09 4,598.16 4,490.80 4,836.76
Percentage Net RE / CA 0.25 0.28 0.26 0.28 0.27 0.29
Σ Earnings 4,129.35 8,716.67 13,082.75 17,680.91 22,171.72 27,008.48
CAF (CASH FLOW) 7,066.40 7,524.37 7,303.14 7,535.21 7,427.86 7,773.81
Percentage CAF / CA 0.43 0.46 0.44 0.45 0.44 0.46
Σ CAF (CASH FLOW) 7,066.40 14,590.77 21,893.90 29,429.11 36,856.97 44,630.78
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 49th month 50th month 51 th month 52 th month 53 th month 54th month
REVENUE
CLINICAL 16,921.63 17,006.23 17,091.27 17,176.72 17,262.61 17,348.92

Turnover (sales) (in CFAF) 16,921.63 17,006.23 17,091.27 17,176.72 17,262.61 17,348.92

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.14 0.14 0.14 0.14 0.14 0.14
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVICES 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.22 0.19 0.21 0.20 0.21 0.19

Added value (VA) 10,702.89 11,315.99 11,023.53 11,335.48 11,194.87 11,658.68

Percentage VA / CA 0.63 0.67 0.64 0.66 0.65 0.67
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.10 0.10 0.10 0.10 0.10 0.10
Budget surplus Gross operating ( 8,941.75 9,554.85 9,262.39 9,574.34 9,433.73 9,897.54
Percentage EBITDA / Sales 0.53 0.56 0.54 0.56 0.55 0.57
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Treasury) 5 - - - - - 494.88
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan - - - - - -
Amortization of investments 2,937.05 2,937.05 2,937.05 2,937.05 2,937.05 2,937.05
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 6,004.70 6,617.80 6,325.34 6,637.29 6,496.68 7,455.37
Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 1,501.18 1,654.45 1,581.34 1,659.32 1,624.17 1,863.84
Net income after taxes (ROE Net) 4,503.53 4,963.35 4,744.01 4,977.97 4,872.51 5,591.53
Percentage Net RE / CA 0.27 0.29 0.28 0.29 0.28 0.32
Σ Earnings 4,503.53 9,466.88 14,210.88 19,188.85 24,061.36 29,652.88
CAF (CASH FLOW) 7,440.58 7,900.40 7,681.06 7,915.02 7,809.56 8,528.58
Percentage CAF / CA 0.44 0.46 0.45 0.46 0.45 0.49
Σ CAF (CASH FLOW) 7,440.58 15,340.98 23,022.03 30,937.05 38,746.61 47,275.18
 ACCOUNT ESTIMATED OPERATING ACTIVITIES (EUROS)

2018-2019 PERIOD
SECTIONS 55th month 56th month 57th month 58th month 59th month 60th month
REVENUE
CLINICAL 17,435.67 17,522.85 17,610.46 17,698.52 17,787.01 17,875.94

Turnover (sales) (in CFAF) 17,435.67 17,522.85 17,610.46 17,698.52 17,787.01 17,875.94

Percentage / CA 1.00 1.00 1.00 1.00 1.00 1.00

PURCHASING M / SES
PURCHASE GOODS 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Total Buys 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08 2,432.08

Percentage Purchasing / CA 0.14 0.14 0.14 0.14 0.14 0.14
OTHER EXPENSES AND SERVICES OUTSIDE
RENT 604.00 604.00 604.00 604.00 604.00 604.00
electricity 377.50 - 377.50 - 377.50 -
Water 151.00 - 151.00 - -
Office supplies 302.00 302.00 302.00 302.00 302.00 302.00
Maintenance materials 453.00 453.00 453.00 453.00 453.00 453.00
Subscription management software - - - - - -
° Comm & Marketing 151.00 151.00 151.00 151.00 151.00 151.00
- - - - - -
Law Office 226.50 226.50 226.50 226.50 226.50 226.50
Office Assist. Compt. Legal & Tax 120.80 120.80 120.80 120.80 120.80 120.80
- - - - - -
- - - - - -
Multi-Risks Insurance 302.00 302.00 302.00 302.00 302.00 302.00
Opening Fresh & launch 528.50 528.50 528.50 528.50 528.50 528.50
staffing Fuel 188.75 188.75 188.75 188.75 188.75 188.75
Dues and taxes 206.57 206.57 206.57 206.57 206.57 206.57
Other tax charges Contingencies 175.04 175.04 175.04 175.04 175.04 175.04
TOTAL OTHER EXPENSES AND SERVI 3,786.66 3,258.16 3,635.66 3,409.16 3,635.66 3,258.16
Fillers & Svces / CA Percent 0.22 0.19 0.21 0.19 0.20 0.18

Added value (VA) 11,216.93 11,832.61 11,542.72 11,857.28 11,719.27 12,185.70

Percentage VA / CA 0.64 0.68 0.66 0.67 0.66 0.68
PERSONNEL EXPENSES (CP)
Personnel costs 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52 1,446.52
Social charges (CNPS, etc.) 314.62 314.62 314.62 314.62 314.62 314.62
TOTAL PERSONNEL EXPENSES 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14 1,761.14
Percentage CP / CA 0.10 0.10 0.10 0.10 0.10 0.10
Budget surplus Gross opera 9,455.79 10,071.47 9,781.58 10,096.14 9,958.13 10,424.56
Percentage EBITDA / Sales 0.54 0.57 0.56 0.57 0.56 0.58
FINANCIAL INCOME (BANK INTEREST)
financed products. (Inter / Tre - - - - - 521.23
FINANCIAL CHARGES AND AMORTIZATION
financial interests / Loan - - - - - -
Amortization of investments 2,937.05 2,937.05 2,937.05 2,937.05 2,937.05 2,937.05
funded loads. (internal / Cash) 5% - - - - - -
Gross profit before taxes 6,518.74 7,134.42 6,844.53 7,159.09 7,021.08 8,008.74
Tax income (25%) (BIC) RN / MFI = 0.5 1,629.68 1,783.60 1,711.13 1,789.77 1,755.27 2,002.18
Net income after taxes (ROE 4,889.05 5,350.82 5,133.40 5,369.32 5,265.81 6,006.55
Percentage Net RE / CA 0.28 0.31 0.29 0.30 0.30 0.34
Σ Earnings 4,889.05 10,239.87 15,373.27 20,742.59 26,008.39 32,014.95
CAF (CASH FLOW) 7,826.11 8,287.87 8,070.45 8,306.37 8,202.86 8,943.60
Percentage CAF / CA 0.45 0.47 0.46 0.47 0.46 0.50
Σ CAF (CASH FLOW) 7,826.11 16,113.97 24,184.42 32,490.79 40,693.65 Err:522
 the loan amortization schedule

Loan characteristics: Summary of evidence provided:

value of the loan 167,513 fr. Monthly Err:508
Annual interest rate 8.00 % Number of set monthly payments 12
Loan term in years 5 Number of set monthly payments Err:508
Number of payments per year 12 Amount of advance payments Err:508 TOTAL PAYMENTS
Start Date repayment of the loan 30-déc.-2018 Amount of interest Err:508 Err:508
Optional extra payments - fr.
Starting date of the loan before: Deferred payment: 1 month

Monthly Date of Initial balance Monthly total payment principal Interests Is outstanding
No. payment repaid

Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508

Err:508 28/02/19 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508 Err:508
 TABLE OF AMORTIZATION OF FIXED
Duratio Depreci
AMOUNTS Type 1 month 2nd month 3rd month 4th month 5th month 6th month
LABELS n of ation
(HT) Amort.
Amort rates.
light box 167.51 € 60 20% Linear 33.50 € 33.50 € 33.50 € 33.50 € 33.50 € 33.50 €
- €

heat lamp 3,807.12 € 60 5% Linear 190.36 € 190.36 € 190.36 € 190.36 € 190.36 € 190.36 €

- €
incubator 4,568.54 € 60 5% Linear 228.43 € 228.43 € 228.43 € 228.43 € 228.43 € 228.43 €
- €
Suction pump 228.42 € 60 20% Linear 45.68 € 45.68 € 45.68 € 45.68 € 45.68 € 45.68 €
- €
osticale sucker 456.85 € 60 20% Linear 91.37 € 91.37 € 91.37 € 91.37 € 91.37 € 91.37 €
- €
apparatus neubulisation 266.49 € 60 20% Linear 53.30 € 53.30 € 53.30 € 53.30 € 53.30 € 53.30 €
- €
respirator 15,228.48 € 60 5% Linear 761.42 € 761.42 € 761.42 € 761.42 € 761.42 € 761.42 €
- €
Mobile scialitif 5,329.97 € 60 5% Linear 266.50 € 266.50 € 266.50 € 266.50 € 266.50 € 266.50 €
- €
surveillance monitor 5,329.87 € 60 5% Linear 266.49 € 266.49 € 266.49 € 266.49 € 266.49 € 266.49 €

SURGICAL vacuum 2,284.27 € 60 5% Linear 114.21 € 114.21 € 114.21 € 114.21 € 114.21 € 114.21 €

electric bistourie 6,852.00 € 60 5% Linear 342.60 € 342.60 € 342.60 € 342.60 € 342.60 € 342.60 €

laryngoscope 1,065.99 € 60 20% Linear 213.20 € 213.20 € 213.20 € 213.20 € 213.20 € 213.20 €

mute assistant 228.42 € 60 20% Linear 45.68 € 45.68 € 45.68 € 45.68 € 45.68 € 45.68 €

rhesuscope 3,807.12 € 60 5% Linear 190.36 € 190.36 € 190.36 € 190.36 € 190.36 € 190.36 €

spectrometer biochemistry 9,137.09 € 60 5% Linear 456.85 € 456.85 € 456.85 € 456.85 € 456.85 € 456.85 €

counter hematology 10,659.94 € 60 5% Linear 533.00 € 533.00 € 533.00 € 533.00 € 533.00 € 533.00 €

stirrer klein 2,284.27 € 60 5% Linear 114.21 € 114.21 € 114.21 € 114.21 € 114.21 € 114.21 €

the microscope binocular 3,807.12 € 60 5% Linear 190.36 € 190.36 € 190.36 € 190.36 € 190.36 € 190.36 €
distiller 3,807.12 € 60 5% Linear 190.36 € 190.36 € 190.36 € 190.36 € 190.36 € 190.36 €
TOTAL INVESTMENTS RESTAURANT 35,383.25 € Linear 1,937.05 € 1,937.05 € 1,937.05 € 1,937.05 € 1,937.05 € 1,937.05 €
 PROFITABILITY INDICATORS
Work period in year: 5.00
Period in months: 36.00
Discount rate: 0.05
Bank Annual interest rate: 0.08
SECTIONS year 1 year 2 year 3 year 4
REVENUE
Turnover (sales) (in CFAF) 166,459.65 € 309,584.56 € 185,625.65 € 196,595.91 €
Percentage / CA 1.00 1.00 1.00 1.00

PURCHASING M / SES
Total expenses variables (CVs) 29,238.70 € 29,238.70 € 29,238.70 € 29,238.70 €
Percentage Purchasing / CA 0.18 0.09 0.16 0.15

Margin / variable cost 137,220.95 € 280,345.86 € 156,386.95 € 167,357.21 €

Margin rate on Variable Cost 0.82 0.91 0.84 0.85
FIXED OPERATING EXPENSES
Total other expenses & services 21,624.45 € 20,139.67 € 20,063.53 € 19,987.39 €
Total Personnel expenses 21,344.70 € 21,344.70 € 21,344.70 € 21,344.70 €
Total Financial Interests / Loan - € - € - € - €
Total amortization of investments 35,244.62 € 35,244.62 € 35,244.62 € 35,244.62 €
Total expenses financed. (Inter / Treasury) 5%
Total Fixed Charges (CF) 78,213.77 € 76,728.99 € 76,652.85 € 76,576.71 €
Percent CF / CA 0.47 0.25 0.41 0.39

Total Operating Expenses (EC) 107,452.47 € 105,967.69 € 105,891.55 € 105,815.41 €

financed products. (Inter / Treasury) 5% - - - -

Gross profit before taxes 59,007.18 € 203,616.87 € 79,734.10 € 90,780.50 €

Tax income (25%) (BIC) RN / MFI = 0.5% TTC CA 609.13 € 17,334.57 € 19,933.53 € 22,695.12 €

Net income after taxes (ROE Net) 58,398.05 € 186,282.30 € 59,800.58 € 68,085.37 €
Percentage Net RE / CA 0.35 0.60 0.32 0.35

CAF (CASH FLOW) 93,642.67 € 221,526.92 € 95,045.20 € 103,329.99 €

Percentage CAF / CA 0.56 0.72 0.51 0.53
 ANALYSIS OF MANAGEMENT RATIOS

breakeven period (CT) AC 119,876.69 92,088.06 90,982.12 89,955.30

Dead (PM) in months 8.64 3.57 5.88 5.49

PROJECT COST = START INVESTMENT (I0) 167,513.38 F.CFA HT

ANALYSIS OF PROFITABILITY RATIOS

Net Present Value (NPV) in F.CFA 324,384.82 8%≥ 0 Profitable
Internal Rate of Return (IRR) in% 0.14 ≤ 6% per annum Profitable

Rdmt of Monetary Unit Invested (RUMI) 0.35 1.22 0.48 0.54

0,15228 EURO 0,15228 EURO 0,15228 EURO invested 0,15228 EURO
comments invested reports invested reports reports invested reports
35.23 121.55 47.60 54.19

RISK ANALYSIS (SENSITIVITY)

1 / SENSITIVITY TO CHANGES IN PROJECT CA 0.35 0.66 0.43 0.46

2 / PROJECT SENSITIVITY TO CHANGES IN TOTAL

EXPENSES 0.55 1.92 0.75 0.86
year 5

208,737.83 €
1.00

29,238.70 €
0.14
179,499.13 €
0.86

19,987.39 €
21,344.70 €
- €
35,244.62 €

76,576.71 €
0.37

105,815.41 €
-
102,922.42 €
25,730.60 €
77,191.81 €
0.37
112,436.44 €
0.54
 89,050.33

5.12

0.61
0,15228 EURO
invested reports
61.44

0.49

0.97
 PROFITABILITY INDICATORS
Work period in year: 5
Period in months: 60
Discount rate: 5%
Bank Annual interest rate: 6%

PERIOD year 1 year 2 year 3 year 4 year 5

REVENUE
Turnover (CA) for the period in FCFA 166,459.65 € 309,584.56 € 185,625.65 € 196,595.91 € 208,737.83 €
Percentage / CA 100% 100% 100% 100% 100%
PURCHASING M / SES
Total expenses variables (CVs) 29,238.70 € 29,238.70 € 29,238.70 € 29,238.70 € 29,238.70 €
Percentage Purchasing / CA 17.57% 9.44% 15.75% 14.87% 14.01%

Margin / variable cost 137,220.95 € 280,345.86 € 156,386.95 € 167,357.21 € 179,499.13 €

Margin rate on Variable Cost 82.43% 90.56% 84.25% 85.13% 85.99%
FIXED CHARGES
Total other expenses & services 21,624.45 € 20,139.67 € 20,063.53 € 19,987.39 € 19,987.39 €
Total Personnel expenses 21,344.70 € 21,344.70 € 21,344.70 € 21,344.70 € 21,344.70 €
financial interests / Loan - - - - -
Amortization of investments 35,244.62 € 35,244.62 € 35,244.62 € 35,244.62 € 35,244.62 €

Total Fixed Charges (CF) 78,213.77 € 76,728.99 € 76,652.85 € 76,576.71 € 76,576.71 €

Percent CF / CA 46.99% 24.78% 41.29% 38.95% 36.69%

Total Operating Expenses (EC) 107,452.47 € 105,967.69 € 105,891.55 € 105,815.41 € 105,815.41 €

Net income after taxes (ROE Net) 59,007.18 € 203,616.87 € 79,734.10 € 90,780.50 € 102,922.42 €
Tax income (25%) / MFI = 0.5% TTC CA 982.11 € 1,826.55 € 1,095.19 € 1,159.92 € 1,231.55 €

Net income after taxes (ROE Net) 58,025.07 € 203,616.87 € 79,734.10 € 90,780.50 € 102,922.42 €
Percentage Net RE / CA 34.86% 65.77% 42.95% 46.18% 49.31%

CAF (CASH FLOW) 93,269.69 € 238,861.49 € 114,978.72 € 126,025.12 € 138,167.04 €

Percentage Net RE / CA 56.03% 77.16% 61.94% 64.10% 66.19%
 ANALYSIS OF MANAGEMENT RATIOS

breakeven period (CT) AC 94,879.37 € 84,731.45 € 90,984.16 € 89,955.30 € 89,050.33 €

Dead (PM) in months 6.84 3.28 5.88 5.49 5.12

PROJECT COST = START INVESTMENT (I0) 84,734.73 F.CFA HT F.CFA HT F.CFA HT

ANALYSIS OF PROFITABILITY RATIOS
Net Present Value (NPV) in F.CFA 324,385 ≥0 Profitable Profitable Profitable

Internal Rate of Return (IRR) in% 6.00% ≤ 9% per year Profitable Profitable Profitable

RUM 70% 240% 94% 107% 121%

0,15228 EURO 0,15228 EURO 0,15228 EURO invested 0,15228 EURO invested 0,15228 EURO invested
comments invested reports invested reports reports reports reports
70 240 94 107 121
 BUDGET AND NEEDS INVESTMENTS IN WORKING CAPITAL OF OPERATIONS (BFE)

QTY AMOUNTS AMOUNTS

LABELS UNIT COST (HT) VAT (18%) TTC

general medicine
lookup table 1.00 266.49 € 266.49 € 47.97 € 314.46 €
Escabots two rounds 1.00 76.14 € 76.14 € 13.71 € 89.85 €
Blood pressure electric 1.00 91.37 € 91.37 € 16.45 € 107.82 €
Bathroom scales 1.00 106.59 € 106.59 € 19.19 € 125.78 €
light box 1.00 167.51 € 167.51 € 30.15 € 197.66 €
stethoscope 1.00 22.84 € 22.84 € 4.11 € 26.95 €
A wheelchair 1.00 304.56 € 304.56 € 54.82 € 359.38 €
Office 1.00 274.11 € 274.11 € 49.34 € 323.45 €
Armchair 1.00 121.82 € 121.82 € 21.93 € 143.75 €
visitors armchair 2.00 91.37 € 182.74 € 32.89 € 215.63 €
storage cupboard 1.00 243.65 € 243.65 € 43.86 € 287.51 €

TOTAL GENERAL MEDICINE t 1,857.82 € 334.41 € 2,192.23 €

GINECOLOGIE
Delivery table 1.00 761.42 € 761.42 € 137.06 € 898.48 €
escabot 2.00 152.28 € 304.56 € 54.82 € 359.38 €
Blood Pressure 2.00 91.37 € 182.74 € 32.89 € 215.63 €
office 2.00 274.11 € 548.22 € 98.68 € 646.90 €
visitor chair 2.00 121.82 € 243.64 € 43.86 € 287.50 €
windbreak 2 leaves 3.00 114.21 € 342.63 € 61.67 € 404.30 €
box delivery 4.00 121.82 € 487.28 € 87.71 € 574.99 €
bedpan 5.00 22.84 € 114.20 € 20.56 € 134.76 €
heat lamp 1.00 3,807.12 € 3,807.12 € 685.28 € 4,492.40 €
incubator 1.00 4,568.54 € 4,568.54 € 822.34 € 5,390.88 €
tabe consultation 1.00 532.99 € 532.99 € 95.94 € 628.93 €
Suction pump 1.00 228.42 € 228.42 € 41.12 € 269.54 €
length board 1.00 76.14 € 76.14 € 13.71 € 89.85 €
episiotomy box 2.00 68.52 € 137.04 € 24.67 € 161.71 €
osticale sucker 1.00 456.85 € 456.85 € 82.23 € 539.08 €
metalique gallows 1.00 106.59 € 106.59 € 19.19 € 125.78 €
weighs person 2.00 213.19 € 426.38 € 76.75 € 503.13 €
height board 1.00 76.14 € 76.14 € 13.71 € 89.85 €
lamp examination handogex 2.00 548.22 € 1,096.44 € 197.36 € 1,293.80 €
Dodpleur fetal 2.00 182.74 € 365.48 € 65.79 € 431.27 €
total gynecology 14,862.82 € 2,675.31 € 17,538.13 €

pediatric
lookup table 1.00 732.99 € 732.99 € 131.94 € 864.93 €
office 1.00 121.82 € 121.82 € 21.93 € 143.75 €
agent armchair 1.00 121.82 € 121.82 € 21.93 € 143.75 €
visitor chair 2.00 121.82 € 243.64 € 43.86 € 287.50 €
baby weighs 2.00 274.11 € 548.22 € 98.68 € 646.90 €
weighs person 1.00 106.59 € 106.59 € 19.19 € 125.78 €
tensionmetre child 2.00 91.37 € 182.74 € 32.89 € 215.63 €
apparatus neubilation 1.00 266.49 € 266.49 € 47.97 € 314.46 €
otoscope 2.00 182.74 € 365.48 € 65.79 € 431.27 €
boxes dressing 3.00 106.59 € 319.77 € 57.56 € 377.33 €
total pediatrics 3,009.56 € 541.72 € 3,551.28 €

ultrasound
Regular ultrasound heart + 1.00 38,071.22 € 38,071.22 € 6,852.82 € 44,924.04 €

total ultrasound 38,071.22 € 6,852.82 € 44,924.04 €

hospitalization
beds 15.00 380.71 € 5,710.65 € 1,027.92 € 6,738.57 €
gallows 15.00 114.21 € 1,713.15 € 308.37 € 2,021.52 €
matelat 15.00 91.37 € 1,370.55 € 246.70 € 1,617.25 €
by Wind 3 beating 4.00 190.35 € 761.40 € 137.05 € 898.45 €
bedpan 15.00 22.84 € 342.60 € 61.67 € 404.27 €
nightstand 15.00 83.75 € 1,256.25 € 226.13 € 1,482.38 €

Total Other hospitalization 11,154.60 € 2,007.83 € 13,162.43 €

operating theater
operating table 1.00 15,228.48 € 15,228.48 € 2,741.13 € 17,969.61 €
respirator 1.00 15,228.48 € 15,228.48 € 2,741.13 € 17,969.61 €
Mobile scialitif 1.00 5,329.97 € 5,329.97 € 959.39 € 6,289.36 €
surveillance monitor 1.00 5,329.97 € 5,329.97 € 959.39 € 6,289.36 €
chirugical vacuum 1.00 2,284.27 € 2,284.27 € 411.17 € 2,695.44 €
Electronic bistourie 1.00 6,852.82 € 6,852.82 € 1,233.51 € 8,086.33 €
gallows 2.00 114.21 € 228.42 € 41.12 € 269.54 €
beetles 2.00 76.14 € 152.28 € 27.41 € 179.69 €
adjustable stool 2.00 91.37 € 182.74 € 32.89 € 215.63 €
box Caesarean 3.00 114.21 € 342.63 € 61.67 € 404.30 €
box of hytertonie 2.00 3,807.12 € 7,614.24 € 1,370.56 € 8,984.80 €
box Appendectomy 2.00 380.71 € 761.42 € 137.06 € 898.48 €
box of General Surgery 1.00 1,903.56 € 1,903.56 € 342.64 € 2,246.20 €
Laryngoscope 2.00 380.71 € 761.42 € 137.06 € 898.48 €
oxygen tank 3.00 167.51 € 502.53 € 90.46 € 592.99 €
mute assistant 1.00 228.42 € 228.42 € 41.12 € 269.54 €
Total OPERATING UNIT 58,774.30 € 10,579.37 € 69,353.67 €

LABORATORY
rhésuscope 1.00 3,807.12 € 3,807.12 € 685.28 € 4,492.40 €
spectrometer biochemistry 1.00 9,137.09 € 9,137.09 € 1,644.68 € 10,781.77 €
counter hematology 1.00 10,659.94 € 10,659.94 € 1,918.79 € 12,578.73 €
stirrer klein 1.00 3,045.69 € 3,045.69 € 548.22 € 3,593.91 €
binocular microscope 1.00 3,807.12 € 3,807.12 € 685.28 € 4,492.40 €
distiller 1.00 3,807.12 € 3,807.12 € 685.28 € 4,492.40 €
adjustable stool 1.00 91.37 € 91.37 € 16.45 € 107.82 €
office 1.00 274.11 € 274.11 € 49.34 € 323.45 €
total laboratory 34,629.56 € 6,233.32 € 40,862.88 €

other facility
complete ordinary 1.00 1,065.99 € 1,065.99 € 191.88 € 1,257.87 €
printer 1.00 76.14 € 76.14 € 13.71 € 89.85 €
TV 1.00 121.82 € 121.82 € 21.93 € 143.75 €
CIE 1.00 761.42 € 761.42 € 137.06 € 898.48 €
SODECI 1.00 152.28 € 152.28 € 27.41 € 179.69 €
RENT 1.00 761.42 € 761.42 € 137.06 € 898.48 €
administrative charges 1.00 228.42 € 228.42 € 41.12 € 269.54 €
insurance 1.00 761.00 € 761.00 € 136.98 € 897.98 €
Total other facility 3,928.49 € 707.13 € 4,635.62 €

TOTAL INVESTMENTS 166,288.37 € 29,931.91 € 196,220.28 €

Operating Budget (2 months of operating expenses): 11,977.35 € 11,977.35 € - € 11,977.35 €

TOTAL INVESTMENT AND FINANCING REQUIREMENTS OF OPERATIONS (BFE) 178,265.72 € 29,931.91 € 208,197.63 €
 PAYROLL OF ESTIMATED clinical STAFF
MONTHLY ANNUAL
TYPE SALARY
NUMBER PAY SALARY
Director General (DG) Doctor 609.13 € 1.00 609.13 € 7,309.56 €
Deputy Director General (DDG) - € - - € - €
Secretary 152.28 € 1.00 152.28 € 1,827.36 €
2 caregivers 228.42 € 2.00 456.84 € 5,482.08 €
accountants 152.28 € 1.00 152.28 € 1,827.36 €
accounting firm 76.14 € 1.00 76.14 € 913.68 €
TOTAL PAYROLL 1,218.25 € 6.00 1,446.67 € ###
Financial
Benefits Year 1 Year 2 Year 3 Year 4
Code

VAT 71,301.83 € 233,815.44 € 233,815.44 € 233,815.44 €

exemption

exemption 151,333.70 € 178,371.26 € 180,814.78 € 206,045.66 €

BIC

TOTAL 222,635.53 € 412,186.70 € 414,630.22 € 439,861.10 €

 Year 5

233,815.44 €

210,779.96 €

444,595.40 €