CARTONES NACIONALES S.

A
Balance general clasificado
ANALISIS FINANCIERO
(MILLONES DE PESOS)
31 De Diciembre del

ANALISIS VERTICAL
ACTIVO
ACTIVO CORRIENTE
Disponible
Deudores
Inversiones negociables
Inventarios
Otros Activos Corrientes
TOTAL ACTIVO CORRIENTE

7,026
177,919
207,906
86,513
10
479,374

0.40%
10.21%
11.93%
4.96%
0.00%
27.50%

13,378
168,368
199,172
90,418
330
471,666

0.78%
9.83%
11.63%
5.28%
0.02%
27.55%

ACTIVO FIJO
Maquinaria y equipo
Equipo de computacin
Construcciones en curso
Construcciones y Edificaciones
Muebles y Enseres
Maquinaria en trnsito
Plantaciones forestales
Terrenos
Flota y eq. Transporte
Depreciacin Acumulada
TOTAL ACTIVO FIJO

767,404
4,605
16,466
16,384
673
1,596
96,673
53,036
5,463
(618,897)
343,403

44.03%
0.26%
0.94%
0.94%
0.04%
0.09%
5.55%
3.04%
0.31%
-35.51%
19.70%

787,306
4,605
16,517
16,810
862
1,032
97,275
53,230
5,463
(646,650)
336,450

45.99%
0.27%
0.96%
0.98%
0.05%
0.06%
5.68%
3.11%
0.32%
-37.77%
19.65%

ACTIVO NO CORRIENTE
Deudores L.Po.
Inversiones Permanentes

2011

3,397
8,810

A.V

0.19%
0.51%

2012

4,498
2,118

A.V

0.26%
0.12%

607
650
906,696
920,160
1,742,937

0.03%
0.04%
52.02%
52.79%
100.00%

875
896,379
903,870
1,711,986

0.05%
0.00%
52.36%
52.80%
100.00%

PASIVO
PASIVO CORTO PLAZO
Proveedores
Obligaciones Financieras Ctes.
Obligaciones laborales
Impuestos, grvamenes y tasas
Costos y gastos por pagar
TOTAL PASIVO CORTO PLAZO

96,752
93,049
22,285
6,956
1,941
220,983

5.55%
5.34%
1.28%
0.40%
0.11%
12.68%

101,843
76,334
22,276
19,787
220,240

5.95%
4.46%
1.30%
1.16%
0.00%
12.86%

PASIVO LARGO PLAZO

Impuestos, gravamenes y tasas no ctes.
Pensiones de jubilacin
Bonos en circulacin
Pasivos estimados y provisiones
TOTAL PASIVO LARGO PLAZO
TOTAL PASIVO

37,791
51,782
89,573
310,556

0.00%
2.17%
2.97%
0.00%
5.14%
17.82%

26,006
38,168
52,923
3,909
121,006
341,246

1.52%
2.23%
3.09%
0.23%
7.07%
19.93%

Gastos pagados por anticipado

Activos Diferidos
Valorizaciones de activos
TOTAL ACTIVO NO CORRIENTE
TOTAL ACTIVO

PATRIMONIO
Utilidad del ejercicio
Capital suscrito y Pagado
Reserva Legal
Revalorizacin del Patrimonio
Supervit por valorizaciones
Reserva readquisicin acciones
Prima colocacin acciones

53,476
56
257,000
198,355
883,779
(10,654)
50,369

3.07%
0.00%
14.75%
11.38%
50.71%
-0.61%
2.89%

35,196
56
275,468
148,171
872,134
(10,654)
50,369

2.06%
0.00%
16.09%
8.65%
50.94%
-0.62%
2.94%

TOTAL PATRIMONIO
TOTAL PASIVO+PATRIMONIO

1,432,381

82.18%

CARTONES NACIONALES
S.A
1,742,937
100.00%
Estado de Resultados
(MILLONES DE PESOS)
Enero - 31 De Diciembre del

1,370,740
1,711,986

80.07%
100.00%

ANALISIS VERTICAL

DETALLE
Ventas netas
(-) Costo de Ventas
(=) UTILIDAD BRUTA
(-) Gastos operacionales de ventas
(-) Gastos operacionales de administracin
(=) UTILIDAD OPERACIONAL
(+) INGRESOS NO OPERACIONALES
Diferencia en cambio
Ingresos financieros
Dividendos recibidos
otros ingresos
(-)GASTOS NO OPERACIONALES
Gastos financieros
Diferencia cambio
otros egresos
(=) UTILIDAD ANTES DE IMPUESTOS
(-) Provisin Impuesto de Renta
(=) UTILIDAD NETA

2,011
745,032
(599,227)
145,805
(52,949)
(40,537)
52,319
15,371
8,708
2,073
4,590
(7,952)
7,543
409
59,738
(6,262)
53,476

A.V
100.00%
-80.43%
19.57%
-7.11%
-5.44%
7.02%
2.06%
0.00%
1.17%
0.28%
0.62%
-1.07%
1.01%
0.05%
0.00%
8.02%
-0.84%
7.18%

2,012
751,655
(611,878)
139,777
(52,975)
(36,027)
50,775
10,616
920
9,696
(11,882)
7,360
4,522
49,509
(7,772)
41,737

A.V
100.00%
-81.40%
18.60%
-7.05%
-4.79%
6.76%
1.41%
0.12%
1.29%
0.00%
0.00%
-1.58%
0.98%
0.00%
0.60%
6.59%
-1.03%
5.55%

CARTONES NACIONALES S.A

BALANCE GENERAL
ANALISIS HORIZONTAL

2013

V.ABSOLUTA
2012-2011

A.V

V. PORCENTUAL
2012-2011

10,048
180,172
185,196
92,613
98
468,127

0.52%
9.34%
9.60%
4.80%
0.01%
24.26%

6,352
(9,551)
(8,734)
3,905
320
(7,708)

90.41%
-5.37%
-4.20%
4.51%
3200.00%
-1.61%

808,595
4,612
24,118
17,066
1,009
4,747
99,653
55,631
7,066
(673,734)
348,763

41.90%
0.24%
1.25%
0.88%
0.05%
0.25%
5.16%
2.88%
0.37%
-34.91%
18.07%

19,902
51
426
189
(564)
602
194
(27,753)
(6,953)

2.59%
0.00%
0.31%
2.60%
28.08%
-35.34%
0.62%
0.37%
0.00%
4.48%
-2.02%

0.23%
0.11%

1,101
(6,692)

32.41%
-75.96%

4,415
2,118

1,045
1,105,481
1,113,059
1,929,949

0.05%
0.00%
57.28%
57.67%
100.00%

268
(650)
(10,317)
(16,290)
(30,951)

44.15%
-100.00%
-1.14%
-1.77%
-1.78%

107,649
78,678
24,739
22,662
233,728

5.58%
4.08%
1.28%
1.17%
0.00%
12.11%

5,091
(16,715)
(9)
12,831
(1,941)
(743)

5.26%
-17.96%
-0.04%
184.46%
-100.00%
-0.34%

13,003
37,052
64,463
1,354
115,872
349,600

0.67%
1.92%
3.34%
0.07%
6.00%
18.11%

26,006
377
1,141
3,909
31,433
30,690

35.09%
9.88%

39,460
56
278,978
148,171
1,073,969
(10,654)
50,369

2.04%
0.00%
14.46%
7.68%
55.65%
-0.55%
2.61%

(18,280)
18,468
(50,184)
(11,645)
-

-34.18%
0.00%
7.19%
-25.30%
-1.32%
0.00%
0.00%

0.00%
1.00%
2.20%

1,580,349
1,929,949

2,013
762,769
(617,011)
145,758
(56,576)
(40,274)
48,908
13,691
12,292
1,399
(14,099)
8,720
2,278
3,101
48,500
(9,040)
39,460

81.89%
100.00%

A.V
100.00%
-80.89%
19.11%
-7.42%
-5.28%
6.41%
1.79%
0.00%
1.61%
0.18%
0.00%
-1.85%
1.14%
0.30%
0.41%
6.36%
-1.19%
5.17%

(61,641)
-4.30%
(30,951)CARTONES-1.78%
NACIONALES S.A
ESTADO DE RESULTADOS
ANALISIS HORIZONTAL

V.ABSOLUTA
2012-2011
6,623
(12,651)
(6,028)
(26)
4,510
(1,544)
(4,755)
920
988
(2,073)
(4,590)
(3,930)
(183)
(409)
4,522
(10,229)
(1,510)
(11,739)

V. PORCENTUAL
2012-2011
0.89%
2.11%
-4.13%
0.05%
-11.13%
-2.95%
-30.93%
0.00%
11.35%
-100.00%
-100.00%
49.42%
-2.43%
-100.00%
0.00%
-17.12%
24.11%
-21.95%

S NACIONALES S.A
NCE GENERAL
IS HORIZONTAL
V.ABSOLUTA
2013-2012

V. PORCENTUAL
2013-2012

(3,330)
11,804
(13,976)
2,195
(232)
(3,539)

-24.89%
7.01%
-7.02%
2.43%
-70.30%
-0.75%

21,289
7
7,601
256
147
3,715
2,378
2,401
1,603
(27,084)
12,313

2.70%
0.15%
46.02%
1.52%
17.05%
359.98%
2.44%
4.51%
29.34%
4.19%
3.66%

(83)
-

-1.85%
0.00%

170
209,102
209,189
217,963

19.43%
0.00%
23.33%
23.14%
12.73%

5,806
2,344
2,463
2,875
13,488

5.70%
3.07%
11.06%
14.53%

(13,003)
(1,116)
11,540
(2,555)
(5,134)
8,354

-50.00%
-2.92%
21.81%
-65.36%
-4.24%
2.45%

4,264
3,510
201,835
-

12.12%
0.00%
1.27%
0.00%
23.14%
0.00%
0.00%

6.12%

209,609
ES NACIONALES217,963
S.A
DE RESULTADOS
SIS HORIZONTAL

15.29%
12.73%

V. ABSOLUTA V.PORCENTUAL
2013-2012
2013-2012
11,114
(5,133)
5,981
(3,601)
(4,247)
(1,867)
3,075
(920)
2,596
1,399
(2,217)
1,360
2,278
(1,421)
(1,009)
(1,268)
(2,277)

1.48%
0.84%
4.28%
6.80%
11.79%
-3.68%
28.97%
-100.00%
26.77%
0.00%
0.00%
18.66%
18.48%
0.00%
-31.42%
-2.04%
16.31%
-5.46%

EMPRESA DIDACTICA SA
Balance General Clasificado
ANALISIS FINANCIERO
(MILLONES DE PESOS)
31 de Diciembre del

ANALISIS VERTICAL
ACTIVO

2013

Disponible
Inversiones Temporales
Deudores
Inventarios
Gastos pagados por anticipado
Total corrientes:
FIJOS
Activo Fijo Bruto
(-) Depreciacion acumulada
Propiedades, Planta y equipo
Otros Activos
Activos diferidos
Inversiones Permanentes
Otros Activos
Valorizaciones
Total Otroa Activos:
TOTAL ACTIVOS
PASIVOS
Obligaciones Bancarias

A.V.

2012

A.V

3754
44977
40894
10200
1266
101091

0.77%
9.21%
8.38%
2.09%
0.26%
20.70%

1783
56249
12862
6844
8268
86006

0.42%
13.25%
3.03%
1.61%
1.95%
20.26%

455537
-198834
256703

93.29%
-40.72%
52.57%

424132
-163343
260789

99.92%
-38.48%
61.44%

29075
44844
289
56274
130482

5.95%
9.18%
0.06%
11.53%
26.72%

27419
41244
273
8726
77662

6.46%
9.72%
0.06%
2.06%
18.30%

488276

100.00%

424457

100.00%

0.00%

15

0.00%

Proveedores
Impuestos, grvamenes y tasas
Obligaciones laborales
Anticipos Clientes
Otros Pasivos
Ingresos Diferidos
Total corrientes

8524
5868
608
650

1.75%
1.20%
0.12%
0.13%
0.00%

13058
7110
522
937

3.08%
1.68%
0.12%
0.22%
0.00%

15650

3.21%

21642

5.10%

Pasivos a M - L Po.
Obligaciones Bancarias
Total L.Po.

8184
8184

1.68%
1.68%

7195
7195

1.70%
1.70%

TOTAL PASIVOS

23834

4.88%

28837

6.79%

PATRIMONIO
Capital Social
Capital Pagado
Prima colocacion acciones
Reserva Legal
Revalorizacion Patrimonio
Utilidad del Ejercicio
Valorizaciones
TOTAL PATRIMONIO

120000
4396
15119
250099
18554
56274
464442

24.58%
0.90%
3.10%
51.22%
3.80%
11.53%
95.12%

120000
4396
10170
227048
25280
8726
395620

28.27%
1.04%
2.40%
53.49%
5.96%
2.06%
93.21%

TOTAL PASIVOS + PATRIMONIO

488276

100.00%

424457

100.00%

DIDACTICA S.A
BALANCE GENERAL
ANALISIS HORIZONTAL

2011
2114
25144
12894
8185
5356
53693

A.V

V. ABSOLUTA
2012-2011

V. PORCENTUAL
2012-2011

V. ABSOLUTA
2013-2012

0.57%
6.74%
3.46%
2.19%
1.44%
14.39%

-331
31105
-32
-1341
2912
32313

-15.66%
123.71%
-0.25%
-16.38%
54.37%
60.18%

1971
-11272
28032
3356
-7002
15085

393603 105.49%
-137423 -36.83%
256180 68.66%

30529
-25920
4609

7.76%
18.86%
1.80%

31405
-35491
-4086

7.02%
9.88%
0.09%
-0.04%
16.95%

1215
4384
-77
8890
14412

4.64%
11.89%
-22.00%
-5420.73%
22.79%

1656
3600
16
47548
52820

373123 100.00%

51334

13.76%

63819

-2565

-99.42%

-15

26204
36860
350
-164
63250

2580

0.69%

8217
2601
454
342
214

2.20%
0.70%
0.12%
0.09%
0.06%

4841
4509
68
595
-214

58.91%
173.36%
14.98%
173.98%
-100.00%

-4534
-1242
86
-287

14408

3.86%

7234

50.21%

-5992

6631
6631

1.78%
1.78%

564
564

8.51%
8.51%

989
989

21039

5.64%

7798

37.06%

-5003

4949
23051
-6726
47548
68822
63819

120000 32.16%
4396
1.18%
4424
1.19%
202974 54.40%
20454
5.48%
-164
-0.04%
352084 94.36%

5746
24074
4826
8890
43536

0.00%
0.00%
129.88%
11.86%
23.59%
-5420.73%
12.37%

373123 100.00%

51334

13.76%

V.PORCENTUAL
2013-2012
110.54%
-20.04%
217.94%
49.04%
-84.69%
17.54%

7.40%
21.73%
-1.57%

6.04%
8.73%
5.86%
544.90%
68.01%
15.04%

-100.00%

-34.72%
-17.47%
16.48%
-30.63%

-27.69%

13.75%
13.75%
-17.35%

0.00%
0.00%
48.66%
10.15%
-26.61%
544.90%
17.40%
15.04%

ALMACENES ESPERANZA S.A

Balance general clasificado
ANALISIS FINANCIERO
(MILLONES DE PESOS)
31 de Diciembre del
2014

A.V

2013

A.V

Disponible

$1.590.802

11.19%

$1.772.411

13.78%

Inventarios

$1.392.098

9.79%

$1.138.925

8.86%

Inversiones negociables

$1.423.355

10.01%

$981.754

7.63%

$447.973

3.15%

$417.807

3.25%

4,854,228.00

34.13%

4,310,897.00

33.52%

$4.924.809

34.63%

$4.353.122

33.85%

$4.924.809

34.63%

$4.353.122

33.85%

Valorizaciones Activos

$1.565.483

11.01%

$1.507.869

11.73%

Intangibles

ACTIVO CORRIENTE

Deudores neto

TOTAL ALCTIVO CORRIENTE

ACTIVO FIJO
Prop. Plta. y Eq.

TOTAL ACTIVO FIJO

ACTIVO NO CORRIENTE

$2.260.305

15.89%

$2.102.250

16.35%

Activos Diferidos

$70.581

0.50%

$42.225

0.33%

Deudores largo plazo

$44.307

0.31%

$62.061

0.48%

Inversiones permanentes

$161.939

1.14%

$137.408

1.07%

Activos Diferidos no ctes.

$340.348

2.39%

$343.287

2.67%

Otros activos

$285

0.00%

$285

0.00%

TOTAL ACTIVO NO CORRIENTE

4,443,248.00

31.24%

4,195,385.00

32.63%

14,222,285.00

100.00%

12,859,404.00

100.00%

TOTAL ACTIVO
PASIVO

PASIVO CORTO PLAZO

Proveedores
Obligac. Laborales

$2.293.470

16.13%

$1.784.319

13.88%

$132.385

0.93%

$102.709

0.80%

Obligac. Financieras

$1.844

0.01%

$102.325

0.80%

Impuestos, grav. y tasas

$63.107

0.44%

$160.702

1.25%

Cuentas por pagar

$545.795

3.84%

$405.103

3.15%

Pas. Estima. y provis. Ctes.

$66.875

0.47%

$58.990

0.46%

Otros pasivos ctes.

$50.437

0.35%

$59.830

0.47%

Pasivos Diferidos ctes.

$7.251

0.05%

$3.006

0.02%

$150.000

1.05%

$0

0.00%

3,311,164.00

23.28%

2,676,984.00

20.82%

$54.786

0.39%

$56.886

0.44%

Bonos ctes.

TOTAL PASIVO CORTO PLAZO

PASIVO LARGO PLAZO
Otros pasivos no ctes.
Obligac. Laborales no ctes.

$573

0.00%

$488

0.00%

Pens. Jubilac.

$16.236

0.11%

$16.871

0.13%

Pasivos Diferidos

$10.917

0.08%

$9.002

0.07%

Pasivos estimados

$15.669

0.11%

$0

0.00%

$0

0.00%

$150.000

1.17%

98,181.00
3,409,345.00

0.69%

1.81%

23.97%

233,247.00
2,910,231.00

22.63%

Superavit valorizaciones

$1.436.884

10.10%

$1.398.508

10.88%

Superavit capital

$4.900.654

34.46%

$4.861.790

37.81%

Reservas

Bonos
TOTAL PASIVO LARGO PLAZO
TOTAL PASIVO

PATRIMONIO

$1.217.838

8.56%

$1.017.109

7.91%

Revalorizacin patrimonio

$134.267

0.94%

$134.267

1.04%

Utilidades Ejercicio

$458.865

3.23%

$438.407

3.41%

$6.067

0.04%

$6.067

0.05%

Util. Retenidas
Capital Social

2,658,365.00

18.69%

2,093,025.00

16.28%

TOTAL PATRIMONIO
TOTAL PASIVO+ PATRIMONIO

###
###

76.03%
100.00%

9,949,173.00
###

77.37%
100.00%

V. ABSOLUTA
V. PORCENTUAL
AO 2014-2013
AO 2014-2013
(181,609.00)
-10.25%
253,173.00
#VALUE!
441,601.00
44980.82%
30,166.00
7220.08%
543,331.00

12.60%

571,687.00
571,687.00

#VALUE!
#VALUE!

#VALUE!
#VALUE!
28.36
(17.75)
24.53
(2.94)
247,863.00
1,362,881.00

#VALUE!
#VALUE!
67.15%
-28.61%
17.85%
-0.86%
0.00%
5.91%
10.60%

#VALUE!
29.68
(100.48)
(97.60)
140.69
7.89
(9.39)
4.25
150.00
634,180.00

#VALUE!
28.89%
-98.20%
-60.73%
34.73%
13.37%
-15.70%
141.22%
0.00%
23.69%

(2.10)
85.00
(0.63)
1.92
15.67
(150.00)

-100.00%

(135,066.00)
499,114.00

-57.91%
17.15%

#VALUE!
#VALUE!
#VALUE!
20,458.00
565,340.00

-3.69%
17.42%
-3.76%
21.27%

#VALUE!
#VALUE!
#VALUE!
0.00%
4666.44%
0.00%
0.00%

863,767.00
1,362,881.00

8.68%
10.60%