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Auxiliar Investimento VAL@Ru

Exploração

Amortizações

Balanço

DR

EOEP

Fundo de Maneio
Pressupostos

VAL@Ru VALA Investimento Vendas

Contas de Exploração
Sensibilidade
Plano Financeiro

Cash-Flow

Merchandising e Rendas

Análise de Equilíbrio

Pessoal

xploração
Índice
PERÍODOS DAS PROJECÇÕES E UNIDADE MONETÁRIA
Ano Base 2009 2010 2011
Ano 0 1 2
Unidade Monetária €

PRESSUPOSTOS MACROECONÓMICOS
INDICADORES 0 1 2
Taxa de Inflação 0.00% 0.70% 1.00%
Factor Acumulado de Inflação 1.0000 1.0070 1.0171
Taxa de Inflação (Custos com o Pessoal) 0.00% 1.70% 2.00%
Factor Acumulado de Inflação (Custos com o Pessoal) 1.0000 1.0170 1.0373

Taxa de Juro OT 10 4.68% Financiamento


Taxa de Juro do Financiamento de Curto Prazo (Euribor 3M) 1.327% Empréstimo 1
Taxa de Juro das Aplicações Financeiras de Curto Prazo 2.30% Empréstimo 2
Prémio Risco Mercado 6.5% Leasing 1
Derrama de IRC 1.50% Leasing 2
Taxa Média de IRC 25.00% Total Dívida
Taxa de Impostos sobre Lucros(Matéria Colectável Superior a 12500€) 26.50% Capitais Próprios
Taxa de Impostos sobre Lucros(Matéria Colectável Inferior a 12500€) 14.00% Total Dívida + CP
Taxa de Distribuição de Lucros 30.00%
Taxa de IVA Liquidado (Merchandising) 20.00%
Taxa de IVA Liquidado (Electricidade) 12.00%
Taxa de IVA Liquidado 5.00%
Taxa de IVA Dedutível 20.00%
Taxa de IVA Dedutível (Equipamento solar e Foto voltáico) 12.00%
Taxa de IVA Dedutível (Água e Electricidade) 5.00%
Capitais Próprios 1,369,437.06 €
Capital Social 100,000.00 €
Prestações Suplementares de Sócios 1º ano (16.67%) 211,572.84 €
Prestações Suplementares de Sócios 2º ano (33.33%) 423,145.69 €
Prestações Suplementares de Sócios 3º ano (50%) 634,718.53 €
Retenção dos Trabalhadores Independentes 20%
Vendas de Merchandising (Percentagem Vendas de Cartões) 0.25%
Margem Merchandising 5%
Taxa de Retenção Média Mercado 60%
Factor Correctivo Taxas de Retenção 15%
Taxa de Retenção SOMA 51%
Crescimento para a Perpetuidade(g) 1%
Crescimento em Perpetuidade para Imobilizado Líquido 2%
Crescimento em Perpetuidade para Fundo Maneio 3%
Taxa de Segurança Social (Trabalhador) 11.00%
Taxa de Segurança Social (Entidade Patronal) 23.75%
Taxa de Segurança Social (Entidade Patronal) para Orgãos Sociais 21.25%
Taxa de Segurança Social (Trabalhador) para Orgãos Sociais 10%
Penalização Amortização Antecipada 2%
Rácio de Cumprimento da Dívida (Distribuição de Lucros) 1.5
Rácio de Cumprimento da Dívida (Amortização Antecipada da Dívida) 4
Prazo Stock de Segurança 1
Prazo Médio de Pagamentos 1
Prazo Médio de Recebimento de IVA 12
Prazo Médio de Pagamentos (Segurança Social) 1
Prazo Médio de Pagamentos (IRS) 1
Tesouraria de Segurança Mínima 2%
2012 2013 2014 2015 2016 2017
3 4 5 6 7 8

3 4 5 6 7 8
1.40% 1.80% 1.90% 2.00% 2.20% 2.40%
1.0313 1.0499 1.0698 1.0912 1.1152 1.1420
2.40% 2.80% 2.90% 3.00% 3.20% 3.40%
1.0622 1.0920 1.1236 1.1574 1.1944 1.2350

Financiamento
3,806,937.06 €
1,670,811.17 €
315,533.66 €
124,585.01 €
5,917,866.90 €
Capitais Próprios 1,369,437.06 €
Total Dívida + CP 7,287,303.96 €

Debt/Equity 4.32
2018 2019 2020
9 10 11

9 10 11
2.50% 2.50% 2.50%
1.1705 1.1998 1.2298
3.50% 3.50% 3.50%
1.2782 1.3230 1.3693
Índice
MAPA DE INVESTIMENTO EM CAPITAL FIXO - REINVESTIMENTOS REALIZADOS NO ANO POSTERIOR AO ÚLTIMO ANO DE AMORTIZAÇÃO - A PR
C. Aquisição Vida Útil Taxa (QC) 0
IMOBILIZADO CORPÓREO
Terrenos e Outras Construções
Terreno 3,250,000.00 € 0 0.00% 3,250,000.00 €
Sub-Total 3,250,000.00 € - - 3,250,000.00 €

Edificios e Outras Construções


Edificio 2,506,216.76 € 50 2.00% 556,937.06 €
Sub-Total 2,506,216.76 € - - 556,937.06 €

Equipamento Básico
Material de Incêndio 14,195.48 € 4 25.00% €
Máquinas Especificadas 565,861.71 € 8 12.50% €
Equipamento de Energia Solar 55,540.00 € 4 25.00% €
Aparelhagem e Máq. Electrónicas 146,436.31 € 5 20.00% €
Ar Condicionado 130,361.67 € 8 12.50% €
Sub-Total 912,395.17 € - - €

Equipamentos Administrativos
Material de Escritório 214.56 € 3 33.33% €
Programa de Computadores 12,567.50 € 3 33.33% €
Mobiliário 16,346.59 € 8 12.50% €
Sub-Total 29,128.65 € - - €

TOTAL IMOBILIZADO CORPÓREO 6,697,740.58 € - - 3,806,937.06 €

IMOBILIZADO INCORPOREO
Despesas de Instalação
Despesas de Constituição 3,500.00 € 3 33.33% 3,500.00 €
Sub-Total 3,500.00 € - - 3,500.00 €

Despesas de Investigação e Desenvolvimento


Estudos e Projectos 10,000.00 € 3 33.33% 10,000.00 €
Campanhas Publicitárias 286,960.00 € 3 33.33% €
Sub-Total 296,960.00 € - - 10,000.00 €

Propriedade Industrial
Patente (logotipo) 2,600.00 € 3 33.33% €
Site 5,000.00 € 10 10.00% €
Sub-Total 7,600.00 € - - €

TOTAL IMOBILIZADO INCORPÓREO 308,060.00 € - - 13,500.00 €


TOTAL DO IMOBILIZADO 7,005,800.58 € - - 3,820,437.06 €

MAPA DE INVESTIMENTO EM CAPITAL FIXO - REINVESTIMENTOS REALIZADOS NO ANO POSTERIOR AO ÚLTIMO ANO DE AMORTIZAÇÃO - A PR
C. Aquisição Vida Útil Taxa (QC) 0

Factor Acumulado de Inflação - - - 1.0000

IMOBILIZADO CORPÓREO
Terrenos e Outras Construções
Terreno 3,250,000.00 € 0 0.00% 3,250,000.00 €
Sub-Total 3,250,000.00 € - - 3,250,000.00 €

Edificios e Outras Construções


Edificio 2,506,216.76 € 50 2.00% 556,937.06 €
Sub-Total 2,506,216.76 € - - 556,937.06 €

Equipamento Básico
Material de Incêndio 14,195.48 € 4 25.00% €
Máquinas Não Especificadas 565,861.71 € 8 12.50% €
Equipamento de Energia Solar 55,540.00 € 4 25.00% €
Aparelhagem e Máq. Electrónicas 146,436.31 € 5 20.00% €
Ar Condicionado 130,361.67 € 8 12.50% €
Sub-Total 912,395.17 € - - €

Equipamentos Administrativos
Material de Escritório 214.56 € 3 33.33% €
Programa de Computadores 12,567.50 € 3 33.33% €
Mobiliário 16,346.59 € 8 12.50% €
Sub-Total 29,128.65 € - - €

TOTAL IMOBILIZADO CORPÓREO 6,697,740.58 € - - 3,806,937.06 €

IMOBILIZADO INCORPOREO
Despesas de Instalação
Despesas de Constituição 3,500.00 € 3 33.33% 3,500.00 €
Sub-Total 3,500.00 € - - 3,500.00 €

Despesas de Investigação e Desenvolvimento


Estudos e Projectos 10,000.00 € 3 33.33% 10,000.00 €
Campanhas Publicitárias 286,960.00 € 3 33.33% €
Sub-Total 296,960.00 € - - 10,000.00 €

Propriedade Industrial
Patente (logotipo) 2,600.00 € 3 33.33% €
Site 5,000.00 € 10 10.00% €
Sub-Total 7,600.00 € - - €

TOTAL IMOBILIZADO INCORPÓREO 308,060.00 € - - 13,500.00 €

TOTAL DO IMOBILIZADO 7,005,800.58 € - - 3,820,437.06 €


MO ANO DE AMORTIZAÇÃO - A PREÇOS CONSTANTES DO ANO 0
1 2 3 4 5 6 7 8 9

€ € € € € € € € €
€ € € € € € € € €

1,670,811.17 € 278,468.53 € € € € € € € €
1,670,811.17 € 278,468.53 € € € € € € € €

€ 14,195.48 € € € € 14,195.48 € € € €
€ 441,276.70 € € 124,585.01 € € € € € €
€ 55,540.00 € € € € 55,540.00 € € € €
€ 146,436.31 € € € € € 146,436.31 € € €
€ 130,361.67 € € € € € € € €
€ 787,810.16 € € 124,585.01 € € 69,735.48 € 146,436.31 € € €

€ 214.56 € € € 214.56 € € € 214.56 € €


€ 12,567.50 € € € 12,567.50 € € € 12,567.50 € €
€ 16,346.59 € € € € € € € €
€ 29,128.65 € € € 12,782.06 € € € 12,782.06 € €

1,670,811.17 € 1,095,407.34 € € 124,585.01 € 12,782.06 € 69,735.48 € 146,436.31 € 12,782.06 € €

€ € € € € € € € €
€ € € € € € € € €

€ € € € € € € € €
€ 286,960.00 € € € € € € € €
€ 286,960.00 € € € € € € € €

2,600.00 € € € 2,600.00 € € € 2,600.00 € € €


€ 5,000.00 € € € € € € € €
2,600.00 € 5,000.00 € € 2,600.00 € € € 2,600.00 € € €

2,600.00 € 291,960.00 € € 2,600.00 € € € 2,600.00 € € €


1,673,411.17 € 1,387,367.34 € € 127,185.01 € 12,782.06 € 69,735.48 € 149,036.31 € 12,782.06 € €

MO ANO DE AMORTIZAÇÃO - A PREÇOS CORRENTES


1 2 3 4 5 6 7 8 9

1.0070 1.0171 1.0313 1.0499 1.0698 1.0912 1.1152 1.1420 1.1705

€ € € € € € € € €
€ € € € € € € € €

1,670,811.17 € 278,468.53 € € € € € € € €
1,670,811.17 € 278,468.53 € € € € € € € €

€ 14,437.80 € € € € 15,490.34 € € € €
€ 441,276.70 € € 124,585.01 € € € € € €
€ 56,488.07 € € € € 60,606.17 € € € €
€ 148,935.98 € € € € € 163,309.18 € € €
€ 132,586.94 € € € € € € € €
€ 793,725.49 € € 124,585.01 € € 76,096.51 € 163,309.18 € € €

€ 218.22 € € € 229.54 € € € 245.03 € €


€ 12,782.03 € € € 13,444.96 € € € 14,351.94 € €
€ 16,625.63 € € € € € € € €
€ 29,625.88 € € € 13,674.50 € € € 14,596.97 € €

1,670,811.17 € 1,101,819.89 € € 124,585.01 € 13,674.50 € 76,096.51 € 163,309.18 € 14,596.97 € €

€ € € € € € € € €
€ € € € € € € € €

€ € € € € € € € €
€ 291,858.41 € € € € € € € €
€ 291,858.41 € € € € € € € €

2,618.20 € € € 2,729.67 € € € 2,899.58 € € €


€ 5,085.35 € € € € € € € €
2,618.20 € 5,085.35 € € 2,729.67 € € € 2,899.58 € € €

2,618.20 € 296,943.76 € € 2,729.67 € € € 2,899.58 € € €

1,673,429.37 € 1,398,763.65 € € 127,314.68 € 13,674.50 € 76,096.51 € 166,208.76 € 14,596.97 € €



10 11

€ €
€ €

€ €
€ €

14,195.48 € €
441,276.70 € €
55,540.00 € €
€ €
130,361.67 € €
641,373.85 € €

€ 214.56 €
€ 12,567.50 €
16,346.59 € €
16,346.59 € 12,782.06 €

657,720.44 € 12,782.06 €

€ €
€ €

€ €
€ €
€ €

2,600.00 € €
€ €
2,600.00 € €

2,600.00 € €
660,320.44 € 12,782.06 €


10 11

1.1998 1.2298

€ €
€ €

€ €
€ €

17,031.76 € €
441,276.70 € €
66,636.99 € €
€ €
156,408.17 € €
681,353.62 € €

€ 263.87 €
€ 15,455.47 €
19,612.67 € €
19,612.67 € 15,719.34 €

700,966.29 € 15,719.34 €

€ €
€ €

€ €
€ €
€ €

3,119.48 € €
€ €
3,119.48 € €

3,119.48 € €

704,085.78 € 15,719.34 €
Índice

MAPA DE AMORTIZAÇÕES E REINTEGRAÇÕES - A PREÇOS CONSTANTES DO ANO 0


C. Aquisição Vida Útil Taxa (QC) 0 1
IMOBILIZADO CORPÓREO
Terrenos e Outras Construções
Terreno 3,250,000.00 € 0 0.00% € €
Sub-Total 3,250,000.00 € - - € €

Edificios e Outras Construções


Edificio 2,506,216.76 € 50 2.00% € €
Sub-Total 2,506,216.76 € - - € €

Equipamento Básico
Material de Incêndio 14,195.48 € 4 25.00% € €
Máquinas Não Especificadas 565,861.71 € 8 12.50% € €
Equipamento de Energia Solar 55,540.00 € 4 25.00% € €
Aparelhagem e Máq. Electrónicas 146,436.31 € 5 20.00% € €
Ar Condicionado 130,361.67 € 8 12.50% € €
Sub-Total 898,199.69 € - - € €

Equipamentos Administrativos
Material de Escritório 214.56 € 3 33.33% € €
Programa de Computadores 12,567.50 € 3 33.33% € €
Mobiliário 16,346.59 € 8 12.50% € €
Sub-Total 29,128.65 € - - € €

IMOBILIZADO CORPÓREO 6,683,545.10 € - - € €

IMOBILIZADO INCORPOREO
Despesas de Instalação
Despesas de Constituição 3,500.00 € 3 33.33% € 1,166.67 €
Sub-Total 3,500.00 € - - € 1,166.67 €

Despesas de Investigação e Desenvolvimento


Estudos e Projectos 10,000.00 € 3 33.33% € 3,333.33 €
Campanhas Publicitárias 286,960.00 € 3 33.33% € €
Sub-Total 296,960.00 € - - € 3,333.33 €

Propriedade Industrial
Patente (logotipo) 2,600.00 € 3 33.33% € 866.67 €
Site 5,000.00 € 10 10.00% € €
Sub-Total 5,000.00 € - - € 866.67 €
IMOBILIZADO INCORPÓREO 305,460.00 € - - € 5,366.67 €

TOTAL DO IMOBILIZADO 6,989,005.10 € - - € 5,366.67 €

MAPA DE INVESTIMENTO EM CAPITAL FIXO - REINVESTIMENTOS REALIZADOS NO ANO POSTERIOR AO ÚLTIMO ANO DE AMORTIZAÇÃO - A PR
C. Aquisição Vida Útil Taxa (QC) 0 1

Factor Acumulado de Inflação - - - 1 1.01

IMOBILIZADO CORPÓREO
Terrenos e Outras Construções
Terreno 3,250,000.00 € 0 0.00% € €
Sub-Total 3,250,000.00 € - - € €

Edificios e Outras Construções


Edificio 2,506,216.76 € 50 2.00% € €
Sub-Total 2,506,216.76 € - - € €

Equipamento Básico
Material de Incêndio 14,195.48 € 4 25.00% € €
Máquinas Não Especificadas 565,861.71 € 8 12.50% € €
Equipamento de Energia Solar 55,540.00 € 4 25.00% € €
Aparelhagem e Máq. Electrónicas 146,436.31 € 5 20.00% € €
Ar Condicionado 130,361.67 € 8 12.50% € €
Sub-Total 898,199.69 € - - € €

Equipamentos Administrativos
Material de Escritório 214.56 € 3 33.33% € €
Programa de Computadores 12,567.50 € 3 33.33% € €
Mobiliário 16,346.59 € 8 12.50% € €
Sub-Total 29,128.65 € - - € €

IMOBILIZADO CORPÓREO 6,683,545.10 € - - € €

IMOBILIZADO INCORPOREO
Despesas de Instalação
Despesas de Constituição 3,500.00 € 3 33.33% € 1,166.67 €
Sub-Total 3,500.00 € - - € 1,166.67 €

Despesas de Investigação e Desenvolvimento


Estudos e Projectos 10,000.00 € 3 33.33% € 3,333.33 €
Campanhas Publicitárias 286,960.00 € 3 33.33% € €
Sub-Total 296,960.00 € - - € 3,333.33 €
Propriedade Industrial
Patente (logotipo) 2,600.00 € 3 33.33% € 872.73 €
Site 5,000.00 € 10 10.00% € €
Sub-Total 5,000.00 € - - € 872.73 €

IMOBILIZADO INCORPÓREO 305,460.00 € - - € 5,372.73 €

TOTAL DO IMOBILIZADO 6,989,005.10 € - - € 5,372.73 €


2 3 4 5 6 7 8 9

€ € € € € € € €
€ € € € € € € €

11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 €


11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 €

3,548.87 € 3,548.87 € 3,548.87 € 3,548.87 € 3,548.87 € 3,548.87 € 3,548.87 € 3,548.87 €


55,159.59 € 55,159.59 € 70,732.71 € 70,732.71 € 70,732.71 € 70,732.71 € 70,732.71 € 70,732.71 €
13,885.00 € 13,885.00 € 13,885.00 € 13,885.00 € 13,885.00 € 13,885.00 € 13,885.00 € 13,885.00 €
29,287.26 € 29,287.26 € 29,287.26 € 29,287.26 € 29,287.26 € 29,287.26 € 29,287.26 € 29,287.26 €
16,295.21 € 16,295.21 € 16,295.21 € 16,295.21 € 16,295.21 € 16,295.21 € 16,295.21 € 16,295.21 €
118,175.93 € 118,175.93 € 133,749.05 € 133,749.05 € 133,749.05 € 133,749.05 € 133,749.05 € 133,749.05 €

71.52 € 71.52 € 71.52 € 71.52 € 71.52 € 71.52 € 71.52 € 71.52 €


4,189.17 € 4,189.17 € 4,189.17 € 4,189.17 € 4,189.17 € 4,189.17 € 4,189.17 € 4,189.17 €
2,043.32 € 2,043.32 € 2,043.32 € 2,043.32 € 2,043.32 € 2,043.32 € 2,043.32 € 2,043.32 €
6,304.01 € 6,304.01 € 6,304.01 € 6,304.01 € 6,304.01 € 6,304.01 € 6,304.01 € 6,304.01 €

135,618.68 € 135,618.68 € 151,191.81 € 151,191.81 € 151,191.81 € 151,191.81 € 151,191.81 € 151,191.81 €

1,166.67 € 1,166.67 € € € € € € €
1,166.67 € 1,166.67 € € € € € € €

3,333.33 € 3,333.33 € € € € € € €
95,653.33 € 95,653.33 € 95,653.33 € € € € € €
98,986.67 € 98,986.67 € 95,653.33 € € € € € €

866.67 € 866.67 € 866.67 € 866.67 € 866.67 € 866.67 € 866.67 € 866.67 €


500.00 € 500.00 € 500.00 € 500.00 € 500.00 € 500.00 € 500.00 € 500.00 €
1,366.67 € 1,366.67 € 1,366.67 € 1,366.67 € 1,366.67 € 1,366.67 € 1,366.67 € 1,366.67 €
101,520.00 € 101,520.00 € 97,020.00 € 1,366.67 € 1,366.67 € 1,366.67 € 1,366.67 € 1,366.67 €

237,138.68 € 237,138.68 € 248,211.81 € 152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 €

MO ANO DE AMORTIZAÇÃO - A PREÇOS CORRENTES


2 3 4 5 6 7 8 9

1.02 1.03 1.05 1.07 1.09 1.12 1.14 1.17

€ € € € € € € €
€ € € € € € € €

11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 €


11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 € 11,138.74 €

3,609.45 € 3,609.45 € 3,609.45 € 3,609.45 € 3,872.59 € 3,872.59 € 3,872.59 € 3,872.59 €


55,159.59 € 55,159.59 € 70,732.71 € 70,732.71 € 70,732.71 € 70,732.71 € 70,732.71 € 70,732.71 €
14,122.02 € 14,122.02 € 14,122.02 € 14,122.02 € 15,151.54 € 15,151.54 € 15,151.54 € 15,151.54 €
29,787.20 € 29,787.20 € 29,787.20 € 29,787.20 € 29,787.20 € 32,661.84 € 32,661.84 € 32,661.84 €
16,573.37 € 16,573.37 € 16,573.37 € 16,573.37 € 16,573.37 € 16,573.37 € 16,573.37 € 16,573.37 €
119,251.62 € 119,251.62 € 134,824.74 € 134,824.74 € 136,117.40 € 138,992.05 € 138,992.05 € 138,992.05 €

72.74 € 72.74 € 72.74 € 76.51 € 76.51 € 76.51 € 81.68 € 81.68 €


4,260.68 € 4,260.68 € 4,260.68 € 4,481.65 € 4,481.65 € 4,481.65 € 4,783.98 € 4,783.98 €
2,078.20 € 2,078.20 € 2,078.20 € 2,078.20 € 2,078.20 € 2,078.20 € 2,078.20 € 2,078.20 €
6,411.62 € 6,411.62 € 6,411.62 € 6,636.37 € 6,636.37 € 6,636.37 € 6,943.86 € 6,943.86 €

136,801.98 € 136,801.98 € 152,375.10 € 152,599.86 € 153,892.52 € 156,767.16 € 157,074.65 € 157,074.65 €

1,166.67 € 1,166.67 € € € € € € €
1,166.67 € 1,166.67 € € € € € € €

3,333.33 € 3,333.33 € € € € € € €
97,286.14 € 97,286.14 € 97,286.14 € € € € € €
100,619.47 € 100,619.47 € 97,286.14 € € € € € €
872.73 € 872.73 € 909.89 € 909.89 € 909.89 € 966.53 € 966.53 € 966.53 €
508.54 € 508.54 € 508.54 € 508.54 € 508.54 € 508.54 € 508.54 € 508.54 €
1,381.27 € 1,381.27 € 1,418.42 € 1,418.42 € 1,418.42 € 1,475.06 € 1,475.06 € 1,475.06 €

103,167.40 € 103,167.40 € 98,704.56 € 1,418.42 € 1,418.42 € 1,475.06 € 1,475.06 € 1,475.06 €

239,969.38 € 239,969.38 € 251,079.66 € 154,018.28 € 155,310.94 € 158,242.22 € 158,549.71 € 158,549.71 €



10 11

€ €
€ €

11,138.74 € 11,138.74 €
11,138.74 € 11,138.74 €

3,548.87 € 3,548.87 €
70,732.71 € 70,732.71 €
13,885.00 € 13,885.00 €
29,287.26 € 29,287.26 €
16,295.21 € 16,295.21 €
133,749.05 € 133,749.05 €

71.52 € 71.52 €
4,189.17 € 4,189.17 €
2,043.32 € 2,043.32 €
6,304.01 € 6,304.01 €

151,191.81 € 151,191.81 €

€ €
€ €

€ €
€ €
€ €

866.67 € 866.67 €
500.00 € 500.00 €
1,366.67 € 1,366.67 €
1,366.67 € 1,366.67 €

152,558.47 € 152,558.47 €


10 11

1.2 1.23

€ €
€ €

11,138.74 € 11,138.74 €
11,138.74 € 11,138.74 €

4,257.94 € 4,257.94 €
70,732.71 € 70,732.71 €
16,659.25 € 16,659.25 €
32,661.84 € 32,661.84 €
19,551.02 € 19,551.02 €
143,862.76 € 143,862.76 €

81.68 € 87.96 €
4,783.98 € 5,151.82 €
2,451.58 € 2,451.58 €
7,317.24 € 7,691.36 €

162,318.74 € 162,692.86 €

€ €
€ €

€ €
€ €
€ €
1,039.83 € 1,039.83 €
508.54 € 508.54 €
1,548.36 € 1,548.36 €

1,548.36 € 1,548.36 €

163,867.10 € 164,241.23 €
MAPA DE IMOBILIZADO - A PREÇOS CONSTANTES DO ANO 0
C. Aquisição Vida Útil
IMOBILIZADO CORPÓREO
Terrenos e Outras Construções
Terreno 3,250,000.00 € 0
Sub-Total 3,250,000.00 € -

Edificios e Outras Construções


Edificio 2,506,216.76 € 50
Sub-Total 2,506,216.76 € -

Equipamento Básico
Material de Incêndio 14,195.48 € 4
Máquinas Não Especificadas 565,861.71 € 8
Equipamento de Energia Solar 55,540.00 € 4
Aparelhagem e Máq. Electrónicas 146,436.31 € 5
Ar Condicionado 130,361.67 € 8
Sub-Total 912,395.17 € -

Equipamentos Administrativos
Material de Escritório 214.56 € 3
Programa de Computadores 12,567.50 € 3
Mobiliário 16,346.59 € 8
Sub-Total 29,128.65 € -

TOTAL IMOBILIZADO CORPÓREO 6,697,740.58 € -

IMOBILIZADO INCORPOREO
Despesas de Instalação
Despesas de Constituição 3,500.00 € 3
Sub-Total 3,500.00 € -

Despesas de Investigação e Desenvolvimento


Estudos e Projectos 10,000.00 € 3
Campanhas Publicitárias 286,960.00 € 3
Sub-Total 296,960.00 € -

Propriedade Industrial
Patente (logotipo) 2,600.00 € 3
Site 5,000.00 € 10
Sub-Total 7,600.00 € -
TOTAL IMOBILIZADO INCORPÓREO 308,060.00 € -

TOTAL DO IMOBILIZADO 7,005,800.58 € -

MAPA DE IMOBILIZADO - A PREÇOS CORRENTES


C. Aquisição Vida Útil

Factor Acumulado de Inflação - -

IMOBILIZADO CORPÓREO
Terrenos e Outras Construções
Terreno 3,250,000.00 € 0
Sub-Total 3,250,000.00 € -

Edificios e Outras Construções


Edificio 2,506,216.76 € 50
Sub-Total 2,506,216.76 € -

Equipamento Básico
Material de Incêndio 14,195.48 € 4
Máquinas Não Especificadas 565,861.71 € 8
Equipamento de Energia Solar 55,540.00 € 4
Aparelhagem e Máq. Electrónicas 146,436.31 € 5
Ar Condicionado 130,361.67 € 8
Sub-Total 912,395.17 € -

Equipamentos Administrativos
Material de Escritório 214.56 € 3
Programa de Computadores 12,567.50 € 3
Mobiliário 16,346.59 € 8
Sub-Total 29,128.65 € -

TOTAL IMOBILIZADO CORPÓREO 6,697,740.58 € -

IMOBILIZADO INCORPOREO
Despesas de Instalação
Despesas de Constituição 3,500.00 € 3
Sub-Total 3,500.00 € -

Despesas de Investigação e Desenvolvimento


Estudos e Projectos 10,000.00 € 3
Campanhas Publicitárias 286,960.00 € 3
Sub-Total 296,960.00 € -
Propriedade Industrial
Patente (logotipo) 2,600.00 € 3
Site 5,000.00 € 10
Sub-Total 7,600.00 € -

TOTAL IMOBILIZADO INCORPÓREO 308,060.00 € -

TOTAL DO IMOBILIZADO 7,005,800.58 € -


Índice

Taxa (QC) 0 1 2 3

0.00% 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


- 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €

2.00% 556,937.06 € 2,227,748.23 € 2,506,216.76 € 2,506,216.76 €


- 556,937.06 € 2,227,748.23 € 2,506,216.76 € 2,506,216.76 €

25.00% € € 14,195.48 € 14,195.48 €


12.50% € € 441,276.70 € 441,276.70 €
25.00% € € 55,540.00 € 55,540.00 €
20.00% € € 146,436.31 € 146,436.31 €
12.50% € € 130,361.67 € 130,361.67 €
- € € 787,810.16 € 787,810.16 €

33.33% € € 214.56 € 214.56 €


33.33% € € 12,567.50 € 12,567.50 €
12.50% € € 16,346.59 € 16,346.59 €
- € € 29,128.65 € 29,128.65 €

- 3,806,937.06 € 5,477,748.23 € 6,573,155.57 € 6,573,155.57 €

33.33% 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €


- 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €

33.33% 10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 €


33.33% € € 286,960.00 € 286,960.00 €
- 10,000.00 € 10,000.00 € 296,960.00 € 296,960.00 €

33.33% € 2,600.00 € 2,600.00 € 2,600.00 €


10.00% € € 5,000.00 € 5,000.00 €
- € 2,600.00 € 7,600.00 € 7,600.00 €
- 13,500.00 € 16,100.00 € 308,060.00 € 308,060.00 €

- 3,820,437.06 € 5,493,848.23 € 6,881,215.57 € 6,881,215.57 €

Taxa (QC) 0 1 2 3

- 1.0000 1.0070 1.0171 1.0313

0.00% 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


- 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €

2.00% 556,937.06 € 2,227,748.23 € 2,506,216.76 € 2,506,216.76 €


- 556,937.06 € 2,227,748.23 € 2,506,216.76 € 2,506,216.76 €

25.00% € € 14,437.80 € 14,437.80 €


12.50% € € 441,276.70 € 441,276.70 €
25.00% € € 56,488.07 € 56,488.07 €
20.00% € € 148,935.98 € 148,935.98 €
12.50% € € 132,586.94 € 132,586.94 €
- € € 793,725.49 € 793,725.49 €

33.33% € € 218.22 € 218.22 €


33.33% € € 12,782.03 € 12,782.03 €
12.50% € € 16,625.63 € 16,625.63 €
- € € 29,625.88 € 29,625.88 €

- 3,806,937.06 € 5,477,748.23 € 6,579,568.12 € 6,579,568.12 €

33.33% 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €


- 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €

33.33% 10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 €


33.33% € € 291,858.41 € 291,858.41 €
- 10,000.00 € 10,000.00 € 301,858.41 € 301,858.41 €
33.33% € 2,618.20 € 2,618.20 € 2,618.20 €
10.00% € € 5,085.35 € 5,085.35 €
- € 2,618.20 € 7,703.55 € 7,703.55 €

- 13,500.00 € 16,118.20 € 313,061.96 € 313,061.96 €

- 3,820,437.06 € 5,493,866.43 € 6,892,630.08 € 6,892,630.08 €


4 5 6 7 8

3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €

2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 €


2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 €

14,195.48 € 14,195.48 € 14,195.48 € 14,195.48 € 14,195.48 €


565,861.71 € 565,861.71 € 565,861.71 € 565,861.71 € 565,861.71 €
55,540.00 € 55,540.00 € 55,540.00 € 55,540.00 € 55,540.00 €
146,436.31 € 146,436.31 € 146,436.31 € 146,436.31 € 146,436.31 €
130,361.67 € 130,361.67 € 130,361.67 € 130,361.67 € 130,361.67 €
912,395.17 € 912,395.17 € 912,395.17 € 912,395.17 € 912,395.17 €

214.56 € 214.56 € 214.56 € 214.56 € 214.56 €


12,567.50 € 12,567.50 € 12,567.50 € 12,567.50 € 12,567.50 €
16,346.59 € 16,346.59 € 16,346.59 € 16,346.59 € 16,346.59 €
29,128.65 € 29,128.65 € 29,128.65 € 29,128.65 € 29,128.65 €

6,697,740.58 € 6,697,740.58 € 6,697,740.58 € 6,697,740.58 € 6,697,740.58 €

3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €


3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €

10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 €


286,960.00 € 286,960.00 € 286,960.00 € 286,960.00 € 286,960.00 €
296,960.00 € 296,960.00 € 296,960.00 € 296,960.00 € 296,960.00 €

2,600.00 € 2,600.00 € 2,600.00 € 2,600.00 € 2,600.00 €


5,000.00 € 5,000.00 € 5,000.00 € 5,000.00 € 5,000.00 €
7,600.00 € 7,600.00 € 7,600.00 € 7,600.00 € 7,600.00 €
308,060.00 € 308,060.00 € 308,060.00 € 308,060.00 € 308,060.00 €

7,005,800.58 € 7,005,800.58 € 7,005,800.58 € 7,005,800.58 € 7,005,800.58 €

4 5 6 7 8

1.0499 1.0698 1.0912 1.1152 1.1420

3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €

2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 €


2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 €

14,437.80 € 14,437.80 € 15,490.34 € 15,490.34 € 15,490.34 €


565,861.71 € 565,861.71 € 565,861.71 € 565,861.71 € 565,861.71 €
56,488.07 € 56,488.07 € 60,606.17 € 60,606.17 € 60,606.17 €
148,935.98 € 148,935.98 € 148,935.98 € 163,309.18 € 163,309.18 €
132,586.94 € 132,586.94 € 132,586.94 € 132,586.94 € 132,586.94 €
918,310.50 € 918,310.50 € 923,481.14 € 937,854.34 € 937,854.34 €

218.22 € 229.54 € 229.54 € 229.54 € 245.03 €


12,782.03 € 13,444.96 € 13,444.96 € 13,444.96 € 14,351.94 €
16,625.63 € 16,625.63 € 16,625.63 € 16,625.63 € 16,625.63 €
29,625.88 € 30,300.13 € 30,300.13 € 30,300.13 € 31,222.59 €

6,704,153.13 € 6,704,827.39 € 6,709,998.03 € 6,724,371.24 € 6,725,293.70 €

3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €


3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €

10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 €


291,858.41 € 291,858.41 € 291,858.41 € 291,858.41 € 291,858.41 €
301,858.41 € 301,858.41 € 301,858.41 € 301,858.41 € 301,858.41 €
2,729.67 € 2,729.67 € 2,729.67 € 2,899.58 € 2,899.58 €
5,085.35 € 5,085.35 € 5,085.35 € 5,085.35 € 5,085.35 €
7,815.02 € 7,815.02 € 7,815.02 € 7,984.93 € 7,984.93 €

313,173.43 € 313,173.43 € 313,173.43 € 313,343.34 € 313,343.34 €

7,017,326.56 € 7,018,000.81 € 7,023,171.46 € 7,037,714.57 € 7,038,637.04 €



9 10 11

3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


3,250,000.00 € 3,250,000.00 € 3,250,000.00 €

2,506,216.76 € 2,506,216.76 € 2,506,216.76 €


2,506,216.76 € 2,506,216.76 € 2,506,216.76 €

14,195.48 € 14,195.48 € 14,195.48 €


565,861.71 € 565,861.71 € 565,861.71 €
55,540.00 € 55,540.00 € 55,540.00 €
146,436.31 € 146,436.31 € 146,436.31 €
130,361.67 € 130,361.67 € 130,361.67 €
912,395.17 € 912,395.17 € 912,395.17 €

214.56 € 214.56 € 214.56 €


12,567.50 € 12,567.50 € 12,567.50 €
16,346.59 € 16,346.59 € 16,346.59 €
29,128.65 € 29,128.65 € 29,128.65 €

6,697,740.58 € 6,697,740.58 € 6,697,740.58 €

3,500.00 € 3,500.00 € 3,500.00 €


3,500.00 € 3,500.00 € 3,500.00 €

10,000.00 € 10,000.00 € 10,000.00 €


286,960.00 € 286,960.00 € 286,960.00 €
296,960.00 € 296,960.00 € 296,960.00 €

2,600.00 € 2,600.00 € 2,600.00 €


5,000.00 € 5,000.00 € 5,000.00 €
7,600.00 € 7,600.00 € 7,600.00 €
308,060.00 € 308,060.00 € 308,060.00 €

7,005,800.58 € 7,005,800.58 € 7,005,800.58 €

9 10 11

1.1705 1.1998 1.2298

3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


3,250,000.00 € 3,250,000.00 € 3,250,000.00 €

2,506,216.76 € 2,506,216.76 € 2,506,216.76 €


2,506,216.76 € 2,506,216.76 € 2,506,216.76 €

15,490.34 € 17,031.76 € 17,031.76 €


565,861.71 € 565,861.71 € 565,861.71 €
60,606.17 € 66,636.99 € 66,636.99 €
163,309.18 € 163,309.18 € 163,309.18 €
132,586.94 € 156,408.17 € 156,408.17 €
937,854.34 € 969,247.82 € 969,247.82 €

245.03 € 245.03 € 263.87 €


14,351.94 € 14,351.94 € 15,455.47 €
16,625.63 € 19,612.67 € 19,612.67 €
31,222.59 € 34,209.64 € 35,332.01 €

6,725,293.70 € 6,759,674.21 € 6,760,796.58 €

3,500.00 € 3,500.00 € 3,500.00 €


3,500.00 € 3,500.00 € 3,500.00 €

10,000.00 € 10,000.00 € 10,000.00 €


291,858.41 € 291,858.41 € 291,858.41 €
301,858.41 € 301,858.41 € 301,858.41 €
2,899.58 € 3,119.48 € 3,119.48 €
5,085.35 € 5,085.35 € 5,085.35 €
7,984.93 € 8,204.83 € 8,204.83 €

313,343.34 € 313,563.24 € 313,563.24 €

7,038,637.04 € 7,073,237.46 € 7,074,359.83 €


MAPA AUXILIAR PARA CÁLCULO DAS AMORTIZAÇÕES ACUMULADAS - A PREÇOS CONSTANTES DO ANO 0
C. Aquisição Vida Útil
IMOBILIZADO CORPÓREO
Terrenos e Outras Construções
Terreno 3,250,000.00 € 0
Sub-Total 3,250,000.00 € -

Edificios e Outras Construções


Edificio 2,506,216.76 € 50
Sub-Total 2,506,216.76 € -

Equipamento Básico
Material de Incêndio 14,195.48 € 4
Máquinas Não Especificadas 565,861.71 € 8
Equipamento de Energia Solar 55,540.00 € 4
Aparelhagem e Máq. Electrónicas 146,436.31 € 5
Ar Condicionado 130,361.67 € 8
Sub-Total 912,395.17 € -

Equipamentos Administrativos
Material de Escritório 214.56 € 3
Programa de Computadores 12,567.50 € 3
Mobiliário 16,346.59 € 8
Sub-Total 29,128.65 € -

TOTAL IMOBILIZADO CORPÓREO 6,697,740.58 € -

IMOBILIZADO INCORPOREO
Despesas de Instalação
Despesas de Constituição 3,500.00 € 3
Sub-Total 3,500.00 € -

Despesas de Investigação e Desenvolvimento


Estudos e Projectos 10,000.00 € 3
Campanhas Publicitárias 286,960.00 € 3
Sub-Total 296,960.00 € -

Propriedade Industrial
Patente (logotipo) 2,600.00 € 3
Site 5,000.00 € 10
Sub-Total 7,600.00 € -
TOTAL IMOBILIZADO INCORPÓREO 308,060.00 € -

TOTAL DO IMOBILIZADO 7,005,800.58 € -

MAPA AUXILIAR PARA CÁLCULO DAS AMORTIZAÇÕES ACUMULADAS - A PREÇOS CORRENTES


C. Aquisição Vida Útil

Factor Acumulado de Inflação - -

IMOBILIZADO CORPÓREO
Terrenos e Outras Construções
Terreno 3,250,000.00 € 0
Sub-Total 3,250,000.00 € -

Edificios e Outras Construções


Edificio 2,506,216.76 € 50
Sub-Total 2,506,216.76 € -

Equipamento Básico
Material de Incêndio 14,195.48 € 4
Máquinas Não Especificadas 565,861.71 € 8
Equipamento de Energia Solar 55,540.00 € 4
Aparelhagem e Máq. Electrónicas 146,436.31 € 5
Ar Condicionado 130,361.67 € 8
Sub-Total 912,395.17 € -

Equipamentos Administrativos
Material de Escritório 214.56 € 3
Programa de Computadores 12,567.50 € 3
Mobiliário 16,346.59 € 8
Sub-Total 29,128.65 € -

TOTAL IMOBILIZADO CORPÓREO 6,697,740.58 € -

IMOBILIZADO INCORPOREO
Despesas de Instalação
Despesas de Constituição 3,500.00 € 3
Sub-Total 3,500.00 € -

Despesas de Investigação e Desenvolvimento


Estudos e Projectos 10,000.00 € 3
Campanhas Publicitárias 286,960.00 € 3
Sub-Total 296,960.00 € -
Propriedade Industrial
Patente (logotipo) 2,600.00 € 3
Site 5,000.00 € 10
Sub-Total 7,600.00 € -

TOTAL IMOBILIZADO INCORPÓREO 308,060.00 € -

TOTAL DO IMOBILIZADO 7,005,800.58 € -


Taxa (QC) 0 1 2 3 4

0% € € € € €
- € € € € €

2% € € 11,138.74 € 22,277.48 € 33,416.22 €


- € € 11,138.74 € 22,277.48 € 33,416.22 €

25.00% € € 3,548.87 € 7,097.74 € 10,646.61 €


12.50% € € 55,159.59 € 110,319.18 € 181,051.89 €
25.00% € € 13,885.00 € 27,770.00 € 41,655.00 €
20.00% € € 29,287.26 € 58,574.52 € 87,861.79 €
12.50% € € 16,295.21 € 32,590.42 € 48,885.63 €
- € € 118,175.93 € 236,351.86 € 370,100.91 €

33% € € 71.52 € 143.04 € 214.56 €


33% € € 4,189.17 € 8,378.33 € 12,567.50 €
13% € € 2,043.32 € 4,086.65 € 6,129.97 €
- € € 6,304.01 € 12,608.02 € 18,912.03 €

- € € 135,618.68 € 271,237.36 € 422,429.17 €

33% € 1,166.67 € 2,333.33 € 3,500.00 € 3,500.00 €


- € 1,166.67 € 2,333.33 € 3,500.00 € 3,500.00 €

33% € 3,333.33 € 6,666.67 € 10,000.00 € 10,000.00 €


33% € € 95,653.33 € 191,306.67 € 286,960.00 €
- € 3,333.33 € 102,320.00 € 201,306.67 € 296,960.00 €

33% € 866.67 € 1,733.33 € 2,600.00 € 866.67 €


10% € € 500.00 € 1,000.00 € 1,500.00 €
- € 866.67 € 2,233.33 € 3,600.00 € 2,366.67 €
- € 5,366.67 € 106,886.67 € 208,406.67 € 302,826.67 €

- € 5,366.67 € 242,505.35 € 479,644.03 € 725,255.83 €

Taxa (QC) 0 1 2 3 4

- 1.0000 1.0070 1.0171 1.0313 1.0499

0% € € € € €
- € € € € €

2% € € 11,138.74 € 22,277.48 € 33,416.22 €


- € € 11,138.74 € 22,277.48 € 33,416.22 €

25% € € 3,609.45 € 7,218.90 € 10,828.35 €


13% € € 55,159.59 € 110,319.18 € 181,051.89 €
25% € € 14,122.02 € 28,244.03 € 42,366.05 €
20% € € 29,787.20 € 59,574.39 € 89,361.59 €
13% € € 16,573.37 € 33,146.74 € 49,720.10 €
- € € 119,251.62 € 238,503.23 € 373,327.98 €

33% € € 72.74 € 145.48 € 218.22 €


33% € € 4,260.68 € 8,521.35 € 12,782.03 €
13% € € 2,078.20 € 4,156.41 € 6,234.61 €
- € € 6,411.62 € 12,823.24 € 19,234.86 €

- € € 136,801.98 € 273,603.96 € 425,979.06 €

33% € 1,166.67 € 2,333.33 € 3,500.00 € 3,500.00 €


- € 1,166.67 € 2,333.33 € 3,500.00 € 3,500.00 €

33% € 3,333.33 € 6,666.67 € 10,000.00 € 10,000.00 €


33% € € 97,286.14 € 194,572.27 € 291,858.41 €
- € 3,333.33 € 103,952.80 € 204,572.27 € 301,858.41 €
33% € 872.73 € 1,745.47 € 2,618.20 € 909.89 €
10% € € 508.54 € 1,017.07 € 1,525.61 €
- € 872.73 € 2,254.00 € 3,635.27 € 2,435.49 €

- € 5,372.73 € 108,540.14 € 211,707.54 € 307,793.90 €

- € 5,372.73 € 245,342.12 € 485,311.50 € 733,772.96 €


5 6 7 8 9

€ € € € €
€ € € € €

44,554.96 € 55,693.71 € 66,832.45 € 77,971.19 € 89,109.93 €


44,554.96 € 55,693.71 € 66,832.45 € 77,971.19 € 89,109.93 €

14,195.48 € 3,548.87 € 7,097.74 € 10,646.61 € 14,195.48 €


251,784.60 € 322,517.32 € 393,250.03 € 463,982.74 € 534,715.46 €
55,540.00 € 13,885.00 € 27,770.00 € 41,655.00 € 55,540.00 €
117,149.05 € 146,436.31 € 29,287.26 € 58,574.52 € 87,861.79 €
65,180.84 € 81,476.04 € 97,771.25 € 114,066.46 € 130,361.67 €
503,849.97 € 567,863.54 € 555,176.28 € 688,925.34 € 822,674.39 €

71.52 € 143.04 € 214.56 € 71.52 € 143.04 €


4,189.17 € 8,378.33 € 12,567.50 € 4,189.17 € 8,378.33 €
8,173.30 € 10,216.62 € 12,259.94 € 14,303.27 € 16,346.59 €
12,433.98 € 18,737.99 € 25,042.00 € 18,563.95 € 24,867.96 €

560,838.91 € 642,295.24 € 647,050.73 € 785,460.48 € 936,652.29 €

3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €


3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €

10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 €


286,960.00 € 286,960.00 € 286,960.00 € 286,960.00 € 286,960.00 €
296,960.00 € 296,960.00 € 296,960.00 € 296,960.00 € 296,960.00 €

1,733.33 € 2,600.00 € 866.67 € 1,733.33 € 2,600.00 €


2,000.00 € 2,500.00 € 3,000.00 € 3,500.00 € 4,000.00 €
3,733.33 € 5,100.00 € 3,866.67 € 5,233.33 € 6,600.00 €
304,193.33 € 305,560.00 € 304,326.67 € 305,693.33 € 307,060.00 €

865,032.25 € 947,855.24 € 951,377.40 € 1,091,153.81 € 1,243,712.29 €

5 6 7 8 9

1.0698 1.0912 1.1152 1.1420 1.1705

€ € € € €
€ € € € €

44,554.96 € 55,693.71 € 66,832.45 € 77,971.19 € 89,109.93 €


44,554.96 € 55,693.71 € 66,832.45 € 77,971.19 € 89,109.93 €

14,437.80 € 3,872.59 € 7,745.17 € 11,617.76 € 15,490.34 €


251,784.60 € 322,517.32 € 393,250.03 € 463,982.74 € 534,715.46 €
56,488.07 € 15,151.54 € 30,303.08 € 45,454.62 € 60,606.17 €
119,148.78 € 148,935.98 € 32,661.84 € 65,323.67 € 97,985.51 €
66,293.47 € 82,866.84 € 99,440.21 € 116,013.58 € 132,586.94 €
508,152.72 € 573,344.26 € 563,400.33 € 702,392.37 € 841,384.42 €

76.51 € 153.03 € 229.54 € 81.68 € 163.35 €


4,481.65 € 8,963.31 € 13,444.96 € 4,783.98 € 9,567.96 €
8,312.81 € 10,391.02 € 12,469.22 € 14,547.42 € 16,625.63 €
12,870.98 € 19,507.35 € 26,143.72 € 19,413.08 € 26,356.94 €

565,578.67 € 648,545.32 € 656,376.50 € 799,776.64 € 956,851.29 €

3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €


3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 € 3,500.00 €

10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 € 10,000.00 €


291,858.41 € 291,858.41 € 291,858.41 € 291,858.41 € 291,858.41 €
301,858.41 € 301,858.41 € 301,858.41 € 301,858.41 € 301,858.41 €
1,819.78 € 2,729.67 € 966.53 € 1,933.05 € 2,899.58 €
2,034.14 € 2,542.68 € 3,051.21 € 3,559.75 € 4,068.28 €
3,853.92 € 5,272.34 € 4,017.74 € 5,492.80 € 6,967.86 €

309,212.33 € 310,630.75 € 309,376.14 € 310,851.21 € 312,326.27 €

874,790.99 € 959,176.07 € 965,752.64 € 1,110,627.85 € 1,269,177.55 €



10 11

€ €
€ €

100,248.67 € 111,387.41 €
100,248.67 € 111,387.41 €

3,548.87 € 7,097.74 €
164,171.47 € 234,904.19 €
13,885.00 € 27,770.00 €
117,149.05 € 146,436.31 €
16,295.21 € 32,590.42 €
315,049.60 € 448,798.65 €

214.56 € 71.52 €
12,567.50 € 4,189.17 €
2,043.32 € 4,086.65 €
14,825.38 € 8,347.33 €

430,123.65 € 568,533.40 €

3,500.00 € 3,500.00 €
3,500.00 € 3,500.00 €

10,000.00 € 10,000.00 €
286,960.00 € 286,960.00 €
296,960.00 € 296,960.00 €

866.67 € 1,733.33 €
4,500.00 € 5,000.00 €
5,366.67 € 6,733.33 €
305,826.67 € 307,193.33 €

735,950.32 € 875,726.73 €


10 11

1.1998 1.2298

€ €
€ €

100,248.67 € 111,387.41 €
100,248.67 € 111,387.41 €

4,257.94 € 8,515.88 €
164,171.47 € 234,904.19 €
16,659.25 € 33,318.50 €
130,647.35 € 163,309.18 €
19,551.02 € 39,102.04 €
335,287.03 € 479,149.79 €

245.03 € 87.96 €
14,351.94 € 5,151.82 €
2,451.58 € 4,903.17 €
17,048.55 € 10,142.95 €

452,584.25 € 600,680.15 €

3,500.00 € 3,500.00 €
3,500.00 € 3,500.00 €

10,000.00 € 10,000.00 €
291,858.41 € 291,858.41 €
301,858.41 € 301,858.41 €
1,039.83 € 2,079.66 €
4,576.82 € 5,085.35 €
5,616.64 € 7,165.01 €

310,975.05 € 312,523.41 €

763,559.30 € 913,203.56 €
Índice
PRESSUPOSTOS PARA PREVISÃO DA PROCURA
Taxas Crescimento País = Taxas Crescimento Grande Lisboa
Todos os Federados de Futebol Frequentam um Clube ou Academia

PRESSUPOSTOS PARA PREVISÃO DE VENDAS


Capacidade SOMA 10631
Preço Médio SOMA 71.43
Evolução Taxa de Retenção 2.00%
Capacidade Inicial 8256
Capacidade Incrementada 2375

EVOLUÇÃO NÚMERO SÓCIOS


Percentagens 2011 2012 2013
Inicio Ano 0 6527 6690
Saídas Ano 1.400% 0 91 93
Entradas Ano 3.894% 6527 254 260
Final Ano 6527 6690 6857

PERCENTAGEM DA JÓIA POR ANO


2011 2012 2013
150.00 € 5.00% 7.50% 10.00%
120.00 € 5.00% 7.50% 10.00%
100.00 € 10.00% 10.00% 10.00%
75.00 € 10.00% 10.00% 15.00%
50.00 € 70.00% 65.00% 55.00%
TOTAL 100.00% 100.00% 100.00%

PREÇO
Livre 8 vezes por mês
Cartão Bronze Off Peak Peak Off Peak
Musculação e Cardio 45.00 € 55.00 € 25.00 €
Piscina 45.00 € 55.00 € 20.00 €
Aulas de Grupo 40.00 € 50.00 € 20.00 €
Média 43.33 € 53.33 € 21.67 €
Cartão Prata Média 65.00 € 80.00 € 32.50 €
Cartão Ouro 70.00 € 85.00 € 55.00 €

PARTICIPAÇÃO DE CADA CARTÃO NAS VENDAS


Cartão Ouro 80.00%
Livre 75.00%
Peak
Off Peak
8x por mês 25.00%
Peak
Off Peak
Cartão Prata 10.00%
Livre 50.00%
Peak
Off Peak
8x por semana 50.00%
Peak
Off Peak
Cartão Bronze 10.00%
Livre 50.00%
Peak
Off Peak
8x por mês 50.00%
Peak
Off Peak

CAPACIDADE
2011 2012 2013 2014
Capacidade Instalada 8256 8256 10631 10631
Capacidade Máxima 10631 10631 10631 10631

Preço médio 71.43 €

RECEITAS - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011
Taxa de Ocupação 61.40%
Sócios 6527
Taxas de Crescimento
Taxa Retenção SOMA 51.00%

Receitas por Jóia Valor das jóias


150.00 € 48,952.50 €
120.00 € 39,162.00 €
100.00 € 65,270.00 €
75.00 € 48,952.50 €
Preço Mínimo Joía 50.00 € 228,445.00 €
Receitas Jóias 430,782.00 €

Sócios Não Retidos (1 Mês) 3198


Cartão Ouro - Livre - Peak 85.00 € 130,478.40 €
Cartão Ouro - Livre - Off Peak 70.00 € 26,863.20 €
Cartão Ouro - 8 vezes mês - Peak 65.00 € 33,259.20 €
Cartão Ouro - 8 vezes mês - Off Peak 55.00 € 7,035.60 €
Cartão Prata - Livre - Peak 80.00 € 7,675.20 €
Cartão Prata - Livre - Off Peak 65.00 € 4,157.40 €
Cartão Prata - 8 vezes mês - Peak 47.50 € 4,557.15 €
Cartão Prata - 8 vezes mês - Off Peak 32.50 € 2,078.70 €
Cartão Bronze - Livre - Peak 53.33 € 5,116.80 €
Cartão Bronze - Livre - Off Peak 43.33 € 2,771.60 €
Cartão Bronze - 8 vezes mês - Peak 31.67 € 3,038.10 €
Cartão Bronze - 8 vezes mês - Off Peak 21.67 € 1,385.80 €
Receita Sócios Não Retidos 228,417.15 €

Vendas
Cartão Ouro - Livre - Peak 85.00 € 2,396,873.76 €
Cartão Ouro - Livre - Off Peak 70.00 € 493,474.01 €
Cartão Ouro - 8 vezes mês - Peak 65.00 € 610,967.82 €
Cartão Ouro - 8 vezes mês - Off Peak 55.00 € 129,243.19 €
Cartão Prata - Livre - Peak 80.00 € 140,992.57 €
Cartão Prata - Livre - Off Peak 65.00 € 76,370.98 €
Cartão Prata - 8 vezes mês - Peak 47.50 € 83,714.34 €
Cartão Prata - 8 vezes mês - Off Peak 32.50 € 38,185.49 €
Cartão Bronze - Livre - Peak 53.33 € 93,995.05 €
Cartão Bronze - Livre - Off Peak 43.33 € 50,913.99 €
Cartão Bronze - 8 vezes mês - Peak 31.67 € 55,809.56 €
Cartão Bronze - 8 vezes mês - Off Peak 21.67 € 25,456.99 €
Total Vendas 4,195,997.76 €
Total Vendas Ajustadas 2,799,158.01 €

RECEITAS - A PREÇOS CORRENTES


2009 2010 2011

Factor Acumulado de Inflação 1.0000 1.0070 1.0171

Taxa de Ocupação 61.40%


Sócios 6527
Taxas de Crescimento
Taxa Retenção SOMA 51.00%

Receitas por Jóia Valor das jóias


150.00 € 49,788.12 €
120.00 € 39,830.50 €
100.00 € 66,384.16 €
75.00 € 49,788.12 €
Preço mínimo Joía 50.00 € 232,344.56 €
Receitas Jóias 438,135.45 €

Sócios Não Retidos (1 Mês) 3198


Cartão Ouro - Livre - Peak 85.00 € 132,705.67 €
Cartão Ouro - Livre - Off Peak 70.00 € 27,321.75 €
Cartão Ouro - 8 vezes mês - Peak 65.00 € 33,826.93 €
Cartão Ouro - 8 vezes mês - Off Peak 55.00 € 7,155.70 €
Cartão Prata - Livre - Peak 80.00 € 7,806.22 €
Cartão Prata - Livre - Off Peak 65.00 € 4,228.37 €
Cartão Prata - 8 vezes mês - Peak 47.50 € 4,634.94 €
Cartão Prata - 8 vezes mês - Off Peak 32.50 € 2,114.18 €
Cartão Bronze - Livre - Peak 53.33 € 5,204.14 €
Cartão Bronze - Livre - Off Peak 43.33 € 2,818.91 €
Cartão Bronze - 8 vezes mês - Peak 31.67 € 3,089.96 €
Cartão Bronze - 8 vezes mês - Off Peak 21.67 € 1,409.46 €
Receita dos Sócios Não Retidos 232,316.23 €

Vendas
Cartão Ouro - Livre - Peak 85.00 € 2,437,788.40 €
Cartão Ouro - Livre - Off Peak 70.00 € 501,897.61 €
Cartão Ouro - 8 vezes mês - Peak 65.00 € 621,397.04 €
Cartão Ouro - 8 vezes mês - Off Peak 55.00 € 131,449.37 €
Cartão Prata - Livre - Peak 80.00 € 143,399.32 €
Cartão Prata - Livre - Off Peak 65.00 € 77,674.63 €
Cartão Prata - 8 vezes mês - Peak 47.50 € 85,143.34 €
Cartão Prata - 8 vezes mês - Off Peak 32.50 € 38,837.32 €
Cartão Bronze - Livre - Peak 53.33 € 95,599.55 €
Cartão Bronze - Livre - Off Peak 43.33 € 51,783.09 €
Cartão Bronze - 8 vezes mês - Peak 31.67 € 56,762.23 €
Cartão Bronze - 8 vezes mês - Off Peak 21.67 € 25,891.54 €
Total Vendas 4,267,623.44 €
Total Vendas Ajustadas 2,846,939.64 €
2014 2015 2016 2017 2018 2019
6857 7028 7203 7383 7567 7756
95 98 100 103 105 108
266 273 280 287 294 302
7028 7203 7383 7567 7756 7950

2014 2015 2016 2017 2018 2019


15.00% 15.00% 20.00% 20.00% 40.00% 50.00%
10.00% 10.00% 12.50% 12.50% 15.00% 15.00%
15.00% 20.00% 25.00% 25.00% 25.00% 20.00%
10.00% 20.00% 17.50% 17.50% 10.00% 5.00%
50.00% 35.00% 25.00% 25.00% 10.00% 10.00%
100.00% 100.00% 100.00% 100.00% 100.00% 100.00%


8 vezes por mês
Peak
35.00 €
30.00 €
30.00 €
31.67 €
47.50 € 25%
65.00 €

80.00%
20.00%
80.00%
20.00%

60.00%
40.00%

60.00%
40.00%

60.00%
40.00%

60.00%
40.00%

2015 2016 2017 2018 2019 2020


10631 10631 10631 10631 10631 10631
10631 10631 10631 10631 10631 10631

2012 2013 2014 2015 2016 2017


65.75% 66.34% 65.16% 67.39% 69.30% 71.35%
6990 7052 6928 7165 7367 7585
7.09% 0.89% -1.77% 3.42% 2.83% 2.96%
52.02% 53.06% 54.12% 55.20% 56.31% 57.43%

2,857.50 € 3,900.00 € 5,985.00 € 6,142.50 € 8,400.00 € 8,610.00 €


2,286.00 € 3,120.00 € 3,192.00 € 3,276.00 € 4,200.00 € 4,305.00 €
2,540.00 € 2,600.00 € 3,990.00 € 5,460.00 € 7,000.00 € 7,175.00 €
1,905.00 € 2,925.00 € 1,995.00 € 4,095.00 € 3,675.00 € 3,766.88 €
8,255.00 € 7,150.00 € 6,650.00 € 4,777.50 € 3,500.00 € 3,587.50 €
17,843.50 € 19,695.00 € 21,812.00 € 23,751.00 € 26,775.00 € 27,444.38 €

3353 3310 3178 3209 3218 3228


136,802.40 € 135,048.00 € 129,662.40 € 130,927.20 € 131,294.40 € 131,702.40 €
28,165.20 € 27,804.00 € 26,695.20 € 26,955.60 € 27,031.20 € 27,115.20 €
34,871.20 € 34,424.00 € 33,051.20 € 33,373.60 € 33,467.20 € 33,571.20 €
7,376.60 € 7,282.00 € 6,991.60 € 7,059.80 € 7,079.60 € 7,101.60 €
8,047.20 € 7,944.00 € 7,627.20 € 7,701.60 € 7,723.20 € 7,747.20 €
4,358.90 € 4,303.00 € 4,131.40 € 4,171.70 € 4,183.40 € 4,196.40 €
4,778.03 € 4,716.75 € 4,528.65 € 4,572.83 € 4,585.65 € 4,599.90 €
2,179.45 € 2,151.50 € 2,065.70 € 2,085.85 € 2,091.70 € 2,098.20 €
5,364.80 € 5,296.00 € 5,084.80 € 5,134.40 € 5,148.80 € 5,164.80 €
2,905.93 € 2,868.67 € 2,754.27 € 2,781.13 € 2,788.93 € 2,797.60 €
3,185.35 € 3,144.50 € 3,019.10 € 3,048.55 € 3,057.10 € 3,066.60 €
1,452.97 € 1,434.33 € 1,377.13 € 1,390.57 € 1,394.47 € 1,398.80 €
239,488.03 € 236,416.75 € 226,988.65 € 229,202.83 € 229,845.65 € 230,559.90 €

3,422,416.15 € 3,452,875.66 € 3,391,759.76 € 3,507,757.94 € 3,607,027.49 € 3,713,795.50 €


704,615.09 € 710,886.16 € 698,303.48 € 722,185.46 € 742,623.31 € 764,604.96 €
872,380.59 € 880,144.78 € 864,566.21 € 894,134.38 € 919,438.38 € 946,653.76 €
184,542.05 € 186,184.47 € 182,889.01 € 189,143.81 € 194,496.58 € 200,253.68 €
201,318.60 € 203,110.33 € 199,515.28 € 206,338.70 € 212,178.09 € 218,458.56 €
109,047.57 € 110,018.10 € 108,070.78 € 111,766.80 € 114,929.80 € 118,331.72 €
119,532.92 € 120,596.76 € 118,462.20 € 122,513.60 € 125,980.74 € 129,709.77 €
54,523.79 € 55,009.05 € 54,035.39 € 55,883.40 € 57,464.90 € 59,165.86 €
134,212.40 € 135,406.89 € 133,010.19 € 137,559.13 € 141,452.06 € 145,639.04 €
72,698.38 € 73,345.40 € 72,047.18 € 74,511.20 € 76,619.87 € 78,887.81 €
79,688.61 € 80,397.84 € 78,974.80 € 81,675.74 € 83,987.16 € 86,473.18 €
36,349.19 € 36,672.70 € 36,023.59 € 37,255.60 € 38,309.93 € 39,443.91 €
5,991,325.34 € 6,044,648.13 € 5,937,657.86 € 6,140,725.76 € 6,314,508.30 € 6,501,417.74 €
3,374,018.97 € 3,463,426.23 € 3,462,356.56 € 3,642,882.54 € 3,812,201.62 € 3,992,046.97 €

2012 2013 2014 2015 2016 2017

1.0313 1.0499 1.0698 1.0912 1.1152 1.1420

65.75% 66.34% 65.16% 67.39% 69.30% 71.35%


6990 7052 6928 7165 7367 7585
7.09% 0.89% -1.77% 3.42% 2.83% 2.96%
52.02% 53.06% 54.12% 55.20% 56.31% 57.43%

2,946.97 € 4,094.50 € 6,402.87 € 6,702.80 € 9,367.88 € 9,832.52 €


2,357.57 € 3,275.60 € 3,414.87 € 3,574.83 € 4,683.94 € 4,916.26 €
2,619.52 € 2,729.67 € 4,268.58 € 5,958.04 € 7,806.56 € 8,193.77 €
1,964.64 € 3,070.88 € 2,134.29 € 4,468.53 € 4,098.45 € 4,301.73 €
8,513.46 € 7,506.59 € 7,114.30 € 5,213.29 € 3,903.28 € 4,096.88 €
18,402.16 € 20,677.24 € 23,334.92 € 25,917.48 € 29,860.10 € 31,341.16 €

3353 3310 3178 3209 3218 3228


141,085.54 € 141,783.19 € 138,715.44 € 142,869.92 € 146,422.57 € 150,402.65 €
29,047.02 € 29,190.66 € 28,559.06 € 29,414.40 € 30,145.82 € 30,965.25 €
35,962.98 € 36,140.81 € 35,358.84 € 36,417.82 € 37,323.40 € 38,337.93 €
7,607.55 € 7,645.17 € 7,479.75 € 7,703.77 € 7,895.33 € 8,109.95 €
8,299.15 € 8,340.19 € 8,159.73 € 8,404.11 € 8,613.09 € 8,847.21 €
4,495.37 € 4,517.60 € 4,419.85 € 4,552.23 € 4,665.43 € 4,792.24 €
4,927.62 € 4,951.99 € 4,844.84 € 4,989.94 € 5,114.02 € 5,253.03 €
2,247.69 € 2,258.80 € 2,209.93 € 2,276.11 € 2,332.71 € 2,396.12 €
5,532.77 € 5,560.12 € 5,439.82 € 5,602.74 € 5,742.06 € 5,898.14 €
2,996.92 € 3,011.73 € 2,946.57 € 3,034.82 € 3,110.28 € 3,194.83 €
3,285.08 € 3,301.32 € 3,229.89 € 3,326.63 € 3,409.35 € 3,502.02 €
1,498.46 € 1,505.87 € 1,473.28 € 1,517.41 € 1,555.14 € 1,597.41 €
246,986.15 € 248,207.45 € 242,837.02 € 250,109.91 € 256,329.22 € 263,296.79 €

3,529,568.51 € 3,625,079.34 € 3,628,572.83 € 3,827,723.42 € 4,022,641.05 € 4,241,112.30 €


726,675.87 € 746,339.86 € 747,059.11 € 788,060.70 € 828,190.80 € 873,170.18 €
899,693.93 € 924,039.83 € 924,930.33 € 975,694.21 € 1,025,379.09 € 1,081,067.84 €
190,319.87 € 195,469.96 € 195,658.34 € 206,396.85 € 216,907.12 € 228,687.43 €
207,621.68 € 213,239.96 € 213,445.46 € 225,160.20 € 236,625.94 € 249,477.19 €
112,461.74 € 115,504.98 € 115,616.29 € 121,961.78 € 128,172.39 € 135,133.48 €
123,275.37 € 126,611.23 € 126,733.24 € 133,688.87 € 140,496.65 € 148,127.08 €
56,230.87 € 57,752.49 € 57,808.15 € 60,980.89 € 64,086.19 € 67,566.74 €
138,414.45 € 142,159.97 € 142,296.97 € 150,106.80 € 157,750.63 € 166,318.13 €
74,974.49 € 77,003.32 € 77,077.53 € 81,307.85 € 85,448.26 € 90,088.99 €
82,183.58 € 84,407.48 € 84,488.83 € 89,125.91 € 93,664.44 € 98,751.39 €
37,487.25 € 38,501.66 € 38,538.76 € 40,653.93 € 42,724.13 € 45,044.49 €
6,178,907.62 € 6,346,110.10 € 6,352,225.84 € 6,700,861.41 € 7,042,086.69 € 7,424,545.24 €
3,479,656.06 € 3,636,156.10 € 3,704,098.71 € 3,975,173.62 € 4,251,456.02 € 4,558,872.30 €
2020
7950
111
309
8148

2020
55.00%
15.00%
15.00%
5.00%
10.00%
100.00%

2018 2019 2020
73.82% 75.39% 76.64%
7848 8014 8148
3.46% 2.12% 1.67%
58.58% 59.75% 60.95%

17,640.00 € 22,650.00 € 25,492.50 €


5,292.00 € 5,436.00 € 5,562.00 €
7,350.00 € 6,040.00 € 4,635.00 €
2,205.00 € 1,132.50 € 1,158.75 €
1,470.00 € 1,510.00 € 1,545.00 €
33,957.00 € 36,768.50 € 38,393.25 €

3250 3225 3181


132,600.00 € 131,580.00 € 129,784.80 €
27,300.00 € 27,090.00 € 26,720.40 €
33,800.00 € 33,540.00 € 33,082.40 €
7,150.00 € 7,095.00 € 6,998.20 €
7,800.00 € 7,740.00 € 7,634.40 €
4,225.00 € 4,192.50 € 4,135.30 €
4,631.25 € 4,595.63 € 4,532.93 €
2,112.50 € 2,096.25 € 2,067.65 €
5,200.00 € 5,160.00 € 5,089.60 €
2,816.67 € 2,795.00 € 2,756.87 €
3,087.50 € 3,063.75 € 3,021.95 €
1,408.33 € 1,397.50 € 1,378.43 €
232,131.25 € 230,345.63 € 227,202.93 €

3,842,292.83 € 3,923,749.44 € 3,989,276.05 €


791,060.29 € 807,830.77 € 821,321.54 €
979,407.98 € 1,000,171.43 € 1,016,874.29 €
207,182.46 € 211,574.72 € 215,108.02 €
226,017.23 € 230,808.79 € 234,663.30 €
122,426.00 € 125,021.43 € 127,109.29 €
134,197.73 € 137,042.72 € 139,331.33 €
61,213.00 € 62,510.71 € 63,554.64 €
150,678.15 € 153,872.53 € 156,442.20 €
81,617.33 € 83,347.62 € 84,739.52 €
89,465.15 € 91,361.81 € 92,887.56 €
40,808.67 € 41,673.81 € 42,369.76 €
6,726,366.80 € 6,868,965.77 € 6,983,677.50 €
4,206,593.63 € 4,371,639.10 € 4,522,128.13 €

2018 2019 2020

1.1705 1.1998 1.2298

73.82% 75.39% 76.64%


7848 8014 8148
3.46% 2.12% 1.67%
58.58% 59.75% 60.95%

20,648.30 € 27,175.51 € 31,350.60 €


6,194.49 € 6,522.12 € 6,840.13 €
8,603.46 € 7,246.80 € 5,700.11 €
2,581.04 € 1,358.78 € 1,425.03 €
1,720.69 € 1,811.70 € 1,900.04 €
39,747.97 € 44,114.91 € 47,215.90 €

3250 3225 3181


155,213.39 € 157,869.92 € 159,608.94 €
31,955.70 € 32,502.63 € 32,860.66 €
39,564.20 € 40,241.35 € 40,684.63 €
8,369.35 € 8,512.59 € 8,606.36 €
9,130.20 € 9,286.47 € 9,388.76 €
4,945.52 € 5,030.17 € 5,085.58 €
5,421.06 € 5,513.84 € 5,574.58 €
2,472.76 € 2,515.08 € 2,542.79 €
6,086.80 € 6,190.98 € 6,259.17 €
3,297.02 € 3,353.45 € 3,390.39 €
3,614.04 € 3,675.89 € 3,716.38 €
1,648.51 € 1,676.72 € 1,695.19 €
271,718.53 € 276,369.10 € 279,413.44 €

4,497,551.15 € 4,707,721.72 € 4,905,999.18 €


925,966.41 € 969,236.82 € 1,010,058.66 €
1,146,434.61 € 1,200,007.50 € 1,250,548.81 €
242,515.01 € 253,847.74 € 264,539.17 €
264,561.83 € 276,924.81 € 288,588.19 €
143,304.33 € 150,000.94 € 156,318.60 €
157,083.59 € 164,424.10 € 171,349.24 €
71,652.16 € 75,000.47 € 78,159.30 €
176,374.55 € 184,616.54 € 192,392.12 €
95,536.22 € 100,000.62 € 104,212.40 €
104,722.39 € 109,616.07 € 114,232.82 €
47,768.11 € 50,000.31 € 52,106.20 €
7,873,470.37 € 8,241,397.64 € 8,588,504.70 €
4,923,979.21 € 5,245,100.55 € 5,561,299.00 €
Índice

Pressupostos
Contrato Arrendamento com duração igual à vida útil do Projecto
Margem de Lucro 1.50
Evolução Rendas Ritmo de inflação

Valor Construção
2,506,216.76

MERCHANDISING - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011
Vendas Por Cartões € € 2,799,158.01 €
Vendas Merchandising € € 6,997.90 €

MERCHANDISING - A PREÇOS CORRENTES


2009 2010 2011

Factor Acumulado de Inflacção 1 1.01 1.02

Vendas Por Cartões € € 2,846,939.64 €


VENDAS MERCHANDISING Err:509 Err:509 7,117.35 €

RENDAS - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011
Bar € € 9,480.75 €
Centro de Estética € € 5,564.79 €
Sala Massagens € € 4,781.60 €
TOTAL € € 19,827.14 €

RENDAS - A PREÇOS CORRENTES


2009 2010 2011

Factor Acumulado de Inflação 1.0000 1.0070 1.0171

Bar € € 9,642.59 €
Centro Estética € € 5,659.78 €
Sala Massagens € € 4,863.22 €
TOTAL € € 20,165.59 €

VENDA DE ELECTRICIDADE À REDE - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011
VENDA ELECTRICIDADE € € 2,017.50 €

VENDA DE ELECTRICIDADE À REDE - A PREÇOS CORRENTES


2009 2010 2011

Factor Acumulado de Inflação 1.0000 1.0070 1.0171

VENDA ELECTRICIDADE € € 2,051.94 €


Rendas
Custo €/m² 54.96 €
Espaços a alugar Área a alugar Renda Anual Renda Mensal
Bar 230.00 12,641.01 € 1,053.42 €
Centro Estética 135.00 7,419.72 € 618.31 €
Sala Massagens 116.00 6,375.46 € 531.29 €
TOTAL 26,436.19 € 2,203.02 €

2012 2013 2014 2015 2016


3,374,018.97 € 3,463,426.23 € 3,462,356.56 € 3,642,882.54 € 3,812,201.62 €
8,435.05 € 8,658.57 € 8,655.89 € 9,107.21 € 9,530.50 €

2012 2013 2014 2015 2016

1.03 1.05 1.07 1.09 1.12

3,479,656.06 € 3,636,156.10 € 3,704,098.71 € 3,975,173.62 € 4,251,456.02 €


8,699.14 € 9,090.39 € 9,260.25 € 9,937.93 € 10,628.64 €

2012 2013 2014 2015 2016


12,641.01 € 12,641.01 € 12,641.01 € 12,641.01 € 12,641.01 €
7,419.72 € 7,419.72 € 7,419.72 € 7,419.72 € 7,419.72 €
6,375.46 € 6,375.46 € 6,375.46 € 6,375.46 € 6,375.46 €
26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 €

2012 2013 2014 2015 2016

1.0313 1.0499 1.0698 1.0912 1.1152

13,036.78 € 13,271.44 € 13,523.60 € 13,794.07 € 14,097.54 €


7,652.02 € 7,789.76 € 7,937.77 € 8,096.52 € 8,274.65 €
6,575.07 € 6,693.42 € 6,820.60 € 6,957.01 € 7,110.07 €
27,263.88 € 27,754.63 € 28,281.97 € 28,847.61 € 29,482.25 €
2012 2013 2014 2015 2016
4,035.00 € 4,035.00 € 4,035.00 € 4,035.00 € 4,035.00 €

2012 2013 2014 2015 2016

1.0313 1.0499 1.0698 1.0912 1.1152

4,161.33 € 4,236.24 € 4,316.72 € 4,403.06 € 4,499.93 €


Área total do Edificio (m)
Pisos Largura Comprimento Area (m²)
4 30 60 7200
2 35 60 4200
Área total 11,400.00


2017 2018 2019 2020
3,992,046.97 € 4,206,593.63 € 4,371,639.10 € 4,522,128.13 €
9,980.12 € 10,516.48 € 10,929.10 € 11,305.32 €


2017 2018 2019 2020

1.14 1.17 1.2 1.23

4,558,872.30 € 4,923,979.21 € 5,245,100.55 € 5,561,299.00 €


11,397.18 € 12,309.95 € 13,112.75 € 13,903.25 €


2017 2018 2019 2020
12,641.01 € 12,641.01 € 12,641.01 € 12,641.01 €
7,419.72 € 7,419.72 € 7,419.72 € 7,419.72 €
6,375.46 € 6,375.46 € 6,375.46 € 6,375.46 €
26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 €


2017 2018 2019 2020

1.1420 1.1705 1.1998 1.2298

14,435.88 € 14,796.78 € 15,166.70 € 15,545.87 €


8,473.24 € 8,685.07 € 8,902.19 € 9,124.75 €
7,280.71 € 7,462.72 € 7,649.29 € 7,840.53 €
30,189.83 € 30,944.57 € 31,718.19 € 32,511.14 €


2017 2018 2019 2020
4,035.00 € 2,966.00 € 2,818.00 € 2,677.00 €


2017 2018 2019 2020

1.1420 1.1705 1.1998 1.2298

4,607.92 € 3,471.82 € 3,381.04 € 3,292.17 €


Índice

CUSTOS DE EXPLORAÇÃO E PAGAMENTOS - A PREÇOS CONSTANTES DO ANO 0


CUSTO MERCADORIAS VENDIDAS 0 1 2 3 4

Merchandising
C.M.V 5% € € 6,648.00 € 8,013.30 € 8,225.64 €
Finais 1 € € 554.00 € 667.77 € 685.47 €
Iniciais € € € 554.00 € 667.77 €

Compras Merchandising € € 7,202.00 € 8,127.07 € 8,243.33 €

FORNECIMENTOS E SERVIÇOS EXTERNOS


Subcontratos
Segurança 7.50 € € € 67.50 € 90.00 € 90.00 €
Publicidade e Propaganda 1,500.00 € € € € 18,000.00 € 18,000.00 €
Comunicações 150.28 € € € 1,352.52 € 1,803.36 € 1,803.36 €
Água e Electricidade ### € € 175,192.30 € 281,561.88 € 289,022.92 €
Conservação e Reparação 1,101.50 € € € 9,913.50 € 13,218.00 € 13,218.00 €
Manutenção Paineis Solares 200.00 € € € 150.00 € 200.00 € 200.00 €
Livro e Documentação técnica 75.00 € € € 675.00 € 900.00 € 900.00 €
Material Desgaste Rápido 410.74 € € € 3,696.66 € 4,928.88 € 4,928.88 €
Seguro Responsabilidade Civil e Exploração 115.60 € € € 1,040.40 € 1,387.20 € 1,387.20 €
Seguros Multirisco 6,607.25 € € € 4,955.44 € 6,607.25 € 6,607.25 €
Limpeza 33,475.95 € € € 301,283.55 € 401,711.40 € 401,711.40 €
Material de escritório 525.00 € € € 4,725.00 € 6,300.00 € 6,300.00 €
Assistência técnica 127.92 € € € € € 1,535.04 €
Honorários 500.00 € € € 4,500.00 € 6,000.00 € 6,000.00 €
TOTAL DAS DESPESAS COM FSE € € 507,551.87 € 742,707.97 € 751,704.05 €
TOTAL FSE + CUSTO MERCHANDISING € € 514,753.87 € 750,835.04 € 759,947.38 €

CUSTOS DE EXPLORAÇÃO E PAGAMENTOS - A PREÇOS CORRENTES


FORNECIMENTOS E SERVIÇOS EXTERNOS 0 1 2 3 4

Factor Acumulado de Inflação 1.000 1.01 1.02 1.03 1.05

Merchandising
C.M.V 5% € € 6,761.48 € 8,264.18 € 8,635.87 €
Finais 1 € € 563.46 € 688.68 € 719.66 €
Iniciais € € € 563.46 € 688.68 €

Compras Merchandising € € 7,324.94 € 8,389.41 € 8,666.84 €

FORNECIMENTO E SERVIÇOS EXTERNOS


Subcontratos
Segurança 7.50 € € € 68.65 € 92.82 € 94.49 €
Publicidade e Propaganda 1,500.00 € € € € 18,563.56 € 18,897.71 €
Comunicações 150.28 € € € 1,375.61 € 1,859.82 € 1,893.30 €
Água e Electricidade ### € € 181,224.42 € 299,468.71 € 318,570.41 €
Conservação e Reparação 1,101.50 € € € 10,082.72 € 13,631.84 € 13,877.22 €
Manutenção Paineis Solares 200.00 € € € 152.56 € 206.26 € 209.97 €
Livro e Documentação técnica 75.00 € € € 686.52 € 928.18 € 944.89 €
Material Desgaste Rápido 410.74 € € € 3,759.76 € 5,083.20 € 5,174.70 €
Seguro Responsabilidade Civil e Exploração 115.60 € € € 1,058.16 € 1,430.63 € 1,456.38 €
Seguros Multirisco 6,607.25 € € € 5,040.03 € 6,814.12 € 6,936.77 €
Limpeza 33,475.95 € € € 306,426.46 € 414,288.57 € 421,745.77 €
Material de escritório 525.00 € € € 4,805.66 € 6,497.25 € 6,614.20 €
Assistência técnica 127.92 € € € € € 1,611.60 €
Honorários 500.00 € € € 4,576.82 € 6,187.85 € 6,299.24 €
TOTAL DAS DESPESAS COM FSE € € 519,257.36 € 775,052.82 € 804,326.63 €
TOTAL FSE + CUSTO MERCHANDISING € € 526,582.30 € 783,442.23 € 812,993.47 €

5 6 7 8 9 10 11

8,223.10 € 8,651.85 € 9,053.98 € 9,481.11 € 9,990.66 € 10,382.64 € 10,740.05 €


685.26 € 720.99 € 754.50 € 790.09 € 832.55 € 865.22 € 895.00 €
685.47 € 685.26 € 720.99 € 754.50 € 790.09 € 832.55 € 865.22 €

8,222.89 € 8,687.58 € 9,087.49 € 9,516.71 € 10,033.12 € 10,415.31 € 10,769.84 €

90.00 € 90.00 € 90.00 € 90.00 € 90.00 € 90.00 € 90.00 €


18,000.00 € 18,000.00 € 18,000.00 € 18,000.00 € 18,000.00 € 18,000.00 € 18,000.00 €
1,803.36 € 1,803.36 € 1,803.36 € 1,803.36 € 1,803.36 € 1,803.36 € 1,803.36 €
288,933.66 € 303,998.55 € 318,128.23 € 333,136.32 € 351,040.24 € 364,813.28 € 377,371.59 €
13,218.00 € 13,218.00 € 13,218.00 € 13,218.00 € 13,218.00 € 13,218.00 € 13,218.00 €
200.00 € 200.00 € 200.00 € 200.00 € 200.00 € 200.00 € 200.00 €
900.00 € 900.00 € 900.00 € 900.00 € 900.00 € 900.00 € 900.00 €
4,928.88 € 4,928.88 € 4,928.88 € 4,928.88 € 4,928.88 € 4,928.88 € 4,928.88 €
1,387.20 € 1,387.20 € 1,387.20 € 1,387.20 € 1,387.20 € 1,387.20 € 1,387.20 €
6,607.25 € 6,607.25 € 6,607.25 € 6,607.25 € 6,607.25 € 6,607.25 € 6,607.25 €
401,711.40 € 401,711.40 € 401,711.40 € 401,711.40 € 401,711.40 € 401,711.40 € 401,711.40 €
6,300.00 € 6,300.00 € 6,300.00 € 6,300.00 € 6,300.00 € 6,300.00 € 6,300.00 €
1,535.04 € 1,535.04 € 1,535.04 € 1,535.04 € 1,535.04 € 1,535.04 € 1,535.04 €
6,000.00 € 6,000.00 € 6,000.00 € 6,000.00 € 6,000.00 € 6,000.00 € 6,000.00 €
751,614.79 € 766,679.68 € 780,809.36 € 795,817.45 € 813,721.37 € 827,494.41 € 840,052.72 €
759,837.67 € 775,367.25 € 789,896.85 € 805,334.16 € 823,754.49 € 837,909.72 € 850,822.56 €


5 6 7 8 9 10 11

1.07 1.09 1.12 1.14 1.17 1.2 1.23

8,797.23 € 9,441.04 € 10,097.21 € 10,827.32 € 11,694.45 € 12,457.11 € 13,208.09 €


733.10 € 786.75 € 841.43 € 902.28 € 974.54 € 1,038.09 € 1,100.67 €
719.66 € 733.10 € 786.75 € 841.43 € 902.28 € 974.54 € 1,038.09 €

8,810.68 € 9,494.69 € 10,151.89 € 10,888.16 € 11,766.71 € 12,520.67 € 13,270.67 €

96.28 € 98.21 € 100.37 € 102.78 € 105.35 € 107.98 € 110.68 €


19,256.76 € 19,641.90 € 20,074.02 € 20,555.80 € 21,069.69 € 21,596.43 € 22,136.34 €
1,929.27 € 1,967.86 € 2,011.15 € 2,059.42 € 2,110.90 € 2,163.67 € 2,217.77 €
330,688.93 € 361,987.33 € 395,663.38 € 434,455.75 € 480,981.31 € 525,157.62 € 570,736.92 €
14,140.88 € 14,423.70 € 14,741.02 € 15,094.81 € 15,472.18 € 15,858.98 € 16,255.45 €
213.96 € 218.24 € 223.04 € 228.40 € 234.11 € 239.96 € 245.96 €
962.84 € 982.09 € 1,003.70 € 1,027.79 € 1,053.48 € 1,079.82 € 1,106.82 €
5,273.01 € 5,378.48 € 5,496.80 € 5,628.72 € 5,769.44 € 5,913.68 € 6,061.52 €
1,484.05 € 1,513.74 € 1,547.04 € 1,584.17 € 1,623.77 € 1,664.37 € 1,705.97 €
7,068.57 € 7,209.94 € 7,368.56 € 7,545.40 € 7,734.04 € 7,927.39 € 8,125.58 €
429,758.94 € 438,354.12 € 447,997.91 € 458,749.86 € 470,218.60 € 481,974.07 € 494,023.42 €
6,739.87 € 6,874.66 € 7,025.91 € 7,194.53 € 7,374.39 € 7,558.75 € 7,747.72 €
1,642.22 € 1,675.06 € 1,711.91 € 1,753.00 € 1,796.82 € 1,841.74 € 1,887.79 €
6,418.92 € 6,547.30 € 6,691.34 € 6,851.93 € 7,023.23 € 7,198.81 € 7,378.78 €
825,674.51 € 866,872.63 € 911,656.15 € 962,832.35 € 1,022,567.32 € 1,080,283.29 € 1,139,740.72 €
834,485.19 € 876,367.32 € 921,808.04 € 973,720.52 € 1,034,334.03 € 1,092,803.96 € 1,153,011.39 €
NÚMERO SÓCIOS ACTIVOS
2009 2010 2011 2012
Número sócios 0 0 6527 6990

PESSOAL AO SERVIÇO
2009 2010 2011 2012
Director Geral 0 0 1 1
Director Operacional 0 0 1 1
Director Comercial 0 0 1 1
Responsável Manutenção 0 0 1 1

Lojista 0 0 1 1
Empregadas de Limpeza
A 0 0 1 1
B 0 0 1 1
C 0 0 1 1
D 0 0 1 1
E 0 0 1 1
Professores
A 0 0 1 1
B 0 0 1 1
C 0 0 1 1
D 0 0 1 1
E 0 0 1 1
F 0 0 1 1
G 0 0 1 1
H 0 0 1 1
I 0 0 1 1
J 0 0 1 1
K 0 0 1 1
L 0 0 1 1
M 0 0 1 1
N 0 0 1 1
O 0 0 1 1
P 0 0 1 1
R 0 0 1 1
S 0 0 0 0
T 0 0 0 0
Personal Treiners
A 0 0 1 1
B 0 0 1 1
C 0 0 1 1
D 0 0 1 1
E 0 0 1 1
F 0 0 1 1
G 0 0 0 0
Recepcionistas
A 0 0 1 1
B 0 0 1 1
C 0 0 1 1
D 0 0 1 1
E 0 0 1 1
F 0 0 1 1
G 0 0 1 1
Vigilantes
A 0 0 1 1
B 0 0 1 1
Responsável Wii
A 0 0 1 1
B 0 0 1 1
C 0 0 1 1
D 0 0 1 1

VENCIMENTO ANUAL - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011

Director Geral 2,800.00 € € € 30,800.00 €


Director Operacional 2,000.00 € € € 22,000.00 €
Director Comercial 1,900.00 € € € 26,600.00 €
Responsável Manutenção 650.00 € € € 7,150.00 €

Lojista 300.00 € € € 3,300.00 €


Empregadas de Limpeza
A 800.00 € € € 8,800.00 €
B 800.00 € € € 8,800.00 €
C 800.00 € € € 8,800.00 €
D 800.00 € € € 8,800.00 €
E 320.00 € € € 3,520.00 €
Professores
A 1,068.00 € € € 9,612.00 €
B 1,236.00 € € € 11,124.00 €
C 1,792.00 € € € 16,128.00 €
D 1,732.00 € € € 15,588.00 €
E 1,672.00 € € € 15,048.00 €
F 1,432.00 € € € 12,888.00 €
G 1,484.00 € € € 13,356.00 €
H 1,292.00 € € € 11,628.00 €
I 1,372.00 € € € 12,348.00 €
J 1,640.00 € € € 14,760.00 €
K 1,680.00 € € € 15,120.00 €
L 1,680.00 € € € 15,120.00 €
M 1,680.00 € € € 15,120.00 €
N 1,680.00 € € € 15,120.00 €
O 1,680.00 € € € 15,120.00 €
P 1,680.00 € € € 15,120.00 €
R 1,680.00 € € € 15,120.00 €
S 1,680.00 € € € €
T 1,680.00 € € € €
Personal Trainers
A 1,280.00 € € € 11,520.00 €
B 1,280.00 € € € 11,520.00 €
C 1,280.00 € € € 11,520.00 €
D 1,280.00 € € € 11,520.00 €
E 1,280.00 € € € 11,520.00 €
F 1,280.00 € € € 11,520.00 €
G 1,280.00 € € € €
Recepcionistas
A 640.00 € € € 7,040.00 €
B 640.00 € € € 7,040.00 €
C 640.00 € € € 7,040.00 €
D 256.00 € € € 2,816.00 €
E 256.00 € € € 2,816.00 €
F 496.00 € € € 5,456.00 €
G 496.00 € € € 5,456.00 €
Vigilantes
A 1,280.00 € € € 14,080.00 €
B 320.00 € € € 3,520.00 €
Responsável Wii
A 1,120.00 € € € 12,320.00 €
B 1,120.00 € € € 12,320.00 €
C 320.00 € € € 3,520.00 €
D 320.00 € € € 3,520.00 €
Total Vencimentos € € 522,954.00 €

Outras Despesas com Pessoal


Subsidio Alimentação 6.41 € 0 0 24,575.94 €
Contribuições Segurança Social 23.75% € € 50,414.58 €
Seguro Acidentes de Trabalho 4,864.84 € € € 4,864.84 €
Total Outras Despesas com Pessoal € € 79,855.36 €

Total Custos com Pessoal € € 602,809.36 €


VENCIMENTO ANUAL - A PREÇOS CORRENTES
2009 2010 2011

Factor Acumulado de Inflação 1.000000 1.017000 1.037340

Director Geral 2,800.00 € € € 31,950.07 €


Director Operacional 2,000.00 € € € 22,821.48 €
Director Comercial 1,900.00 € € € 27,593.24 €
Responsável Manutenção 650.00 € € € 7,416.98 €

Lojista 300.00 € € € 3,423.22 €


Empregadas de Limpeza
A 800.00 € € € 9,128.59 €
B 800.00 € € € 9,128.59 €
C 800.00 € € € 9,128.59 €
D 800.00 € € € 9,128.59 €
E 320.00 € € € 3,651.44 €
Professores
A 1,068.00 € € € 9,970.91 €
B 1,236.00 € € € 11,539.37 €
C 1,792.00 € € € 16,730.22 €
D 1,732.00 € € € 16,170.06 €
E 1,672.00 € € € 15,609.89 €
F 1,432.00 € € € 13,369.24 €
G 1,484.00 € € € 13,854.71 €
H 1,292.00 € € € 12,062.19 €
I 1,372.00 € € € 12,809.07 €
J 1,640.00 € € € 15,311.14 €
K 1,680.00 € € € 15,684.58 €
L 1,680.00 € € € 15,684.58 €
M 1,680.00 € € € 15,684.58 €
N 1,680.00 € € € 15,684.58 €
O 1,680.00 € € € 15,684.58 €
P 1,680.00 € € € 15,684.58 €
R 1,680.00 € € € 15,684.58 €
S 1,680.00 € € € €
T 1,680.00 € € € €
Personal Treiners
A 1,280.00 € € € 11,950.16 €
B 1,280.00 € € € 11,950.16 €
C 1,280.00 € € € 11,950.16 €
D 1,280.00 € € € 11,950.16 €
E 1,280.00 € € € 11,950.16 €
F 1,280.00 € € € 11,950.16 €
G 1,280.00 € € € €
Recepcionistas
A 640.00 € € € 7,302.87 €
B 640.00 € € € 7,302.87 €
C 640.00 € € € 7,302.87 €
D 256.00 € € € 2,921.15 €
E 256.00 € € € 2,921.15 €
F 496.00 € € € 5,659.73 €
G 496.00 € € € 5,659.73 €
Vigilantes
A 1,280.00 € € € 14,605.75 €
B 320.00 € € € 3,651.44 €
Responsável Wii
A 1,120.00 € € € 12,780.03 €
B 1,120.00 € € € 12,780.03 €
C 320.00 € € € 3,651.44 €
D 320.00 € € € 3,651.44 €
Total Vencimentos € € 542,481.10 €

Outras Despesas com Pessoal


Subsidio Alimentação 6.41 € 0 0 25,493.61 €
Contribuições Segurança Social 23.75% € € 52,297.06 €
Seguro Acidentes de Trabalho 4,864.84 € € € 5,046.49 €
Total Outras Despesas com Pessoal € € 82,837.15 €

Total Custos com Pessoal € € 625,318.26 €


Índice

2013 2014 2015 2016 2017 2018 2019


7052 6928 7165 7367 7585 7848 8014

2013 2014 2015 2016 2017 2018 2019


1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1

1 1 1 1 1 1 1

1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1

1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 0 1 1 1 1 1
1 0 1 1 1 1 1

1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 0 1 1 1 1 1

1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1

1 1 1 1 1 1 1
1 1 1 1 1 1 1

1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1
1 1 1 1 1 1 1

2012 2013 2014 2015 2016 2017 2018

39,200.00 € 39,200.00 € 39,200.00 € 39,200.00 € 39,200.00 € 39,200.00 € 39,200.00 €


28,000.00 € 28,000.00 € 28,000.00 € 28,000.00 € 28,000.00 € 28,000.00 € 28,000.00 €
26,600.00 € 26,600.00 € 26,600.00 € 26,600.00 € 26,600.00 € 26,600.00 € 26,600.00 €
9,100.00 € 9,100.00 € 9,100.00 € 9,100.00 € 9,100.00 € 9,100.00 € 9,100.00 €

4,200.00 € 4,200.00 € 4,200.00 € 4,200.00 € 4,200.00 € 4,200.00 € 4,200.00 €

11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 €


11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 €
11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 €
11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 €
4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 €

12,816.00 € 12,816.00 € 12,816.00 € 12,816.00 € 12,816.00 € 12,816.00 € 12,816.00 €


14,832.00 € 14,832.00 € 14,832.00 € 14,832.00 € 14,832.00 € 14,832.00 € 14,832.00 €
21,504.00 € 21,504.00 € 21,504.00 € 21,504.00 € 21,504.00 € 21,504.00 € 21,504.00 €
20,784.00 € 20,784.00 € 20,784.00 € 20,784.00 € 20,784.00 € 20,784.00 € 20,784.00 €
20,064.00 € 20,064.00 € 20,064.00 € 20,064.00 € 20,064.00 € 20,064.00 € 20,064.00 €
17,184.00 € 17,184.00 € 17,184.00 € 17,184.00 € 17,184.00 € 17,184.00 € 17,184.00 €
17,808.00 € 17,808.00 € 17,808.00 € 17,808.00 € 17,808.00 € 17,808.00 € 17,808.00 €
15,504.00 € 15,504.00 € 15,504.00 € 15,504.00 € 15,504.00 € 15,504.00 € 15,504.00 €
16,464.00 € 16,464.00 € 16,464.00 € 16,464.00 € 16,464.00 € 16,464.00 € 16,464.00 €
19,680.00 € 19,680.00 € 19,680.00 € 19,680.00 € 19,680.00 € 19,680.00 € 19,680.00 €
20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €
€ 20,160.00 € € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €
€ 20,160.00 € € 20,160.00 € 20,160.00 € 20,160.00 € 20,160.00 €

15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 €


15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 €
€ 15,360.00 € € 15,360.00 € 15,360.00 € 15,360.00 € 15,360.00 €

8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 €


8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 €
8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 €
3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 €
3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 €
6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 €
6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 €

17,920.00 € 17,920.00 € 17,920.00 € 17,920.00 € 17,920.00 € 17,920.00 € 17,920.00 €


4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 €

15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 €


15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 €
4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 €
4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 €
676,956.00 € 732,636.00 € 676,956.00 € 732,636.00 € 732,636.00 € 732,636.00 € 732,636.00 €

32,767.92 € 32,767.92 € 32,767.92 € 32,767.92 € 32,767.92 € 32,767.92 € 32,767.92 €


62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 €
4,864.84 € 4,864.84 € 4,864.84 € 4,864.84 € 4,864.84 € 4,864.84 € 4,864.84 €
100,073.81 € 100,073.81 € 100,073.81 € 100,073.81 € 100,073.81 € 100,073.81 € 100,073.81 €

777,029.81 € 832,709.81 € 777,029.81 € 832,709.81 € 832,709.81 € 832,709.81 € 832,709.81 €


2012 2013 2014 2015 2016 2017 2018

1.062236 1.091979 1.123646 1.157356 1.194391 1.235000 1.278225

41,639.66 € 42,805.57 € 44,046.93 € 45,368.34 € 46,820.12 € 48,412.01 € 50,106.43 €


29,742.61 € 30,575.41 € 31,462.09 € 32,405.96 € 33,442.95 € 34,580.01 € 35,790.31 €
28,255.48 € 29,046.64 € 29,888.99 € 30,785.66 € 31,770.80 € 32,851.01 € 34,000.79 €
9,666.35 € 9,937.01 € 10,225.18 € 10,531.94 € 10,868.96 € 11,238.50 € 11,631.85 €

4,461.39 € 4,586.31 € 4,719.31 € 4,860.89 € 5,016.44 € 5,187.00 € 5,368.55 €

11,897.04 € 12,230.16 € 12,584.84 € 12,962.38 € 13,377.18 € 13,832.00 € 14,316.12 €


11,897.04 € 12,230.16 € 12,584.84 € 12,962.38 € 13,377.18 € 13,832.00 € 14,316.12 €
11,897.04 € 12,230.16 € 12,584.84 € 12,962.38 € 13,377.18 € 13,832.00 € 14,316.12 €
11,897.04 € 12,230.16 € 12,584.84 € 12,962.38 € 13,377.18 € 13,832.00 € 14,316.12 €
4,758.82 € 4,892.06 € 5,033.93 € 5,184.95 € 5,350.87 € 5,532.80 € 5,726.45 €

13,613.62 € 13,994.80 € 14,400.65 € 14,832.67 € 15,307.31 € 15,827.76 € 16,381.73 €


15,755.09 € 16,196.23 € 16,665.92 € 17,165.90 € 17,715.21 € 18,317.52 € 18,958.64 €
22,842.33 € 23,481.91 € 24,162.89 € 24,887.77 € 25,684.18 € 26,557.44 € 27,486.96 €
22,077.52 € 22,695.69 € 23,353.86 € 24,054.48 € 24,824.22 € 25,668.24 € 26,566.63 €
21,312.71 € 21,909.46 € 22,544.84 € 23,221.18 € 23,964.26 € 24,779.04 € 25,646.31 €
18,253.47 € 18,764.56 € 19,308.74 € 19,888.00 € 20,524.41 € 21,222.24 € 21,965.02 €
18,916.30 € 19,445.96 € 20,009.89 € 20,610.19 € 21,269.71 € 21,992.88 € 22,762.63 €
16,468.91 € 16,930.04 € 17,421.01 € 17,943.64 € 18,517.84 € 19,147.44 € 19,817.60 €
17,488.66 € 17,978.34 € 18,499.71 € 19,054.70 € 19,664.45 € 20,333.04 € 21,044.70 €
20,904.81 € 21,490.14 € 22,113.36 € 22,776.76 € 23,505.61 € 24,304.80 € 25,155.47 €
21,414.68 € 22,014.29 € 22,652.71 € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €
21,414.68 € 22,014.29 € 22,652.71 € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €
21,414.68 € 22,014.29 € 22,652.71 € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €
21,414.68 € 22,014.29 € 22,652.71 € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €
21,414.68 € 22,014.29 € 22,652.71 € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €
21,414.68 € 22,014.29 € 22,652.71 € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €
21,414.68 € 22,014.29 € 22,652.71 € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €
€ 22,014.29 € € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €
€ 22,014.29 € € 23,332.29 € 24,078.92 € 24,897.60 € 25,769.02 €

16,315.95 € 16,772.79 € 17,259.20 € 17,776.98 € 18,345.84 € 18,969.60 € 19,633.54 €


16,315.95 € 16,772.79 € 17,259.20 € 17,776.98 € 18,345.84 € 18,969.60 € 19,633.54 €
16,315.95 € 16,772.79 € 17,259.20 € 17,776.98 € 18,345.84 € 18,969.60 € 19,633.54 €
16,315.95 € 16,772.79 € 17,259.20 € 17,776.98 € 18,345.84 € 18,969.60 € 19,633.54 €
16,315.95 € 16,772.79 € 17,259.20 € 17,776.98 € 18,345.84 € 18,969.60 € 19,633.54 €
16,315.95 € 16,772.79 € 17,259.20 € 17,776.98 € 18,345.84 € 18,969.60 € 19,633.54 €
€ 16,772.79 € € 17,776.98 € 18,345.84 € 18,969.60 € 19,633.54 €
9,517.64 € 9,784.13 € 10,067.87 € 10,369.91 € 10,701.74 € 11,065.60 € 11,452.90 €
9,517.64 € 9,784.13 € 10,067.87 € 10,369.91 € 10,701.74 € 11,065.60 € 11,452.90 €
9,517.64 € 9,784.13 € 10,067.87 € 10,369.91 € 10,701.74 € 11,065.60 € 11,452.90 €
3,807.05 € 3,913.65 € 4,027.15 € 4,147.96 € 4,280.70 € 4,426.24 € 4,581.16 €
3,807.05 € 3,913.65 € 4,027.15 € 4,147.96 € 4,280.70 € 4,426.24 € 4,581.16 €
7,376.17 € 7,582.70 € 7,802.60 € 8,036.68 € 8,293.85 € 8,575.84 € 8,876.00 €
7,376.17 € 7,582.70 € 7,802.60 € 8,036.68 € 8,293.85 € 8,575.84 € 8,876.00 €

19,035.27 € 19,568.26 € 20,135.74 € 20,739.81 € 21,403.49 € 22,131.20 € 22,905.80 €


4,758.82 € 4,892.06 € 5,033.93 € 5,184.95 € 5,350.87 € 5,532.80 € 5,726.45 €

16,655.86 € 17,122.23 € 17,618.77 € 18,147.33 € 18,728.05 € 19,364.80 € 20,042.57 €


16,655.86 € 17,122.23 € 17,618.77 € 18,147.33 € 18,728.05 € 19,364.80 € 20,042.57 €
4,758.82 € 4,892.06 € 5,033.93 € 5,184.95 € 5,350.87 € 5,532.80 € 5,726.45 €
4,758.82 € 4,892.06 € 5,033.93 € 5,184.95 € 5,350.87 € 5,532.80 € 5,726.45 €
719,087.14 € 800,022.96 € 760,659.01 € 847,920.33 € 875,053.79 € 904,805.61 € 936,473.81 €

33,991.47 € 34,807.27 € 35,781.87 € 36,819.55 € 37,924.13 € 39,137.71 € 40,468.39 €


66,327.14 € 68,184.30 € 70,161.65 € 72,266.50 € 74,579.02 € 77,114.71 € 79,813.72 €
5,167.61 € 5,312.30 € 5,466.36 € 5,630.35 € 5,810.52 € 6,008.08 € 6,218.36 €
105,486.22 € 108,303.87 € 111,409.88 € 114,716.39 € 118,313.68 € 122,260.49 € 126,500.47 €

824,573.37 € 908,326.83 € 872,068.89 € 962,636.73 € 993,367.46 € 1,027,066.11 € 1,062,974.28 €


LIMPEZA
€ Preço Hora 5.00 € Remuneração
2020 Horas Semana Semana
8148 A 40 200.00 €
B 40 200.00 €
€ C 40 200.00 €
2020 D 40 200.00 €
1 E 16 80.00 €
1
1 PESSOAL SUPERIOR
1 Mês Taxa IRS
Director Geral 2,800.00 € 22%
1 Director Operacional 2,000.00 € 17%
Director Comercial 1,900.00 € 16%
1 Responsável Manutenção 650.00 € 2%
1
1 LOJA
1 Preço Hora 3.00 € Remuneração
1 Horas Semana Semana
1 25 75.00 €
1
1 PROFESSORES
1 Aulas de Grupo PTs
1 Preços Hora 15.00 € 8.00 €
1 Horas Semana Horas
1 A 5 24
1 B 11 18
1 C 24 11
1 D 23 11
1 E 14 26
1 F 10 26
1 G 13 22
1 H 13 16
1 I 9 26
1 J 14 25
1 K 28
1 L 28
1 M 28
1 N 28
O 28
1 P 28
1 Q 28
1 R 28
1 S 28
1 T 28
1
1 PTs
Preço Hora 8.00 € Remuneração
1 Horas Semana Semana
1 A 40 320.00 €
1 B 40 320.00 €
1 C 40 320.00 €
1 D 40 320.00 €
1 E 40 320.00 €
1 F 40 320.00 €
G 40 320.00 €
1
1 RECEPCIONISTAS
Preço Hora 4.00 € Remuneração
1 Horas Semana Semana
1 A 40 160.00 €
1 B 40 160.00 €
1 C 40 160.00 €
D 16 64.00 €
E 16 64.00 €
€ F 31 124.00 €
2019 2020 G 31 124.00 €

39,200.00 € 39,200.00 € VIGILANTES


28,000.00 € 28,000.00 € Preço Hora 8.00 € Remuneração
26,600.00 € 26,600.00 € Horas Semana Semana
9,100.00 € 9,100.00 € A 40 320.00 €
B 10 80.00 €
4,200.00 € 4,200.00 €
Wii
11,200.00 € 11,200.00 € Preço Hora 8.00 € Remuneração
11,200.00 € 11,200.00 € Horas Semana Semana
11,200.00 € 11,200.00 € A 35 280.00 €
11,200.00 € 11,200.00 € B 35 280.00 €
4,480.00 € 4,480.00 € C 10 80.00 €
D 10 80.00 €
12,816.00 € 12,816.00 €
14,832.00 € 14,832.00 €
21,504.00 € 21,504.00 €
20,784.00 € 20,784.00 €
20,064.00 € 20,064.00 €
17,184.00 € 17,184.00 €
17,808.00 € 17,808.00 €
15,504.00 € 15,504.00 €
16,464.00 € 16,464.00 €
19,680.00 € 19,680.00 €
20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 €
20,160.00 € 20,160.00 €

15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 €
15,360.00 € 15,360.00 €

8,960.00 € 8,960.00 €
8,960.00 € 8,960.00 €
8,960.00 € 8,960.00 €
3,584.00 € 3,584.00 €
3,584.00 € 3,584.00 €
6,944.00 € 6,944.00 €
6,944.00 € 6,944.00 €

17,920.00 € 17,920.00 €
4,480.00 € 4,480.00 €

15,680.00 € 15,680.00 €
15,680.00 € 15,680.00 €
4,480.00 € 4,480.00 €
4,480.00 € 4,480.00 €
732,636.00 € 732,636.00 €

32,767.92 € 32,767.92 €
62,441.05 € 62,441.05 €
4,864.84 € 4,864.84 €
100,073.81 € 100,073.81 €

832,709.81 € 832,709.81 €

2019 2020

1.322963 1.369267

51,860.15 € 53,675.26 €
37,042.97 € 38,339.47 €
35,190.82 € 36,422.50 €
12,038.96 € 12,460.33 €

5,556.45 € 5,750.92 €

14,817.19 € 15,335.79 €
14,817.19 € 15,335.79 €
14,817.19 € 15,335.79 €
14,817.19 € 15,335.79 €
5,926.87 € 6,134.32 €

16,955.10 € 17,548.52 €
19,622.19 € 20,308.97 €
28,449.00 € 29,444.71 €
27,496.47 € 28,458.84 €
26,543.93 € 27,472.97 €
22,733.80 € 23,529.48 €
23,559.33 € 24,383.90 €
20,511.22 € 21,229.11 €
21,781.26 € 22,543.61 €
26,035.91 € 26,947.17 €
26,670.94 € 27,604.42 €
26,670.94 € 27,604.42 €
26,670.94 € 27,604.42 €
26,670.94 € 27,604.42 €
26,670.94 € 27,604.42 €
26,670.94 € 27,604.42 €
26,670.94 € 27,604.42 €
26,670.94 € 27,604.42 €
26,670.94 € 27,604.42 €

20,320.71 € 21,031.94 €
20,320.71 € 21,031.94 €
20,320.71 € 21,031.94 €
20,320.71 € 21,031.94 €
20,320.71 € 21,031.94 €
20,320.71 € 21,031.94 €
20,320.71 € 21,031.94 €
11,853.75 € 12,268.63 €
11,853.75 € 12,268.63 €
11,853.75 € 12,268.63 €
4,741.50 € 4,907.45 €
4,741.50 € 4,907.45 €
9,186.66 € 9,508.19 €
9,186.66 € 9,508.19 €

23,707.50 € 24,537.26 €
5,926.87 € 6,134.32 €

20,744.06 € 21,470.10 €
20,744.06 € 21,470.10 €
5,926.87 € 6,134.32 €
5,926.87 € 6,134.32 €
969,250.39 € 1,003,174.16 €

41,884.78 € 43,350.75 €
82,607.21 € 85,498.46 €
6,436.00 € 6,661.26 €
130,927.99 € 135,510.47 €

1,100,178.38 € 1,138,684.63 €
Remuneração
Mês Taxa IRS Empregado Valor IRS N.º dias trabalho Mês
800.00 € 5.00% 40.00 € 22
800.00 € 5.00% 40.00 € 22
800.00 € 5.00% 40.00 € 22
800.00 € 5.00% 40.00 € 22
320.00 € 0.00% € 8

IRS Empregado Pressupostos N.º Dias Trabalho Mês


616.00 € Casado 1 Dependente 22
340.00 € Casado 1 Dependente 22
304.00 € Casado 1 Dependente 22
13.00 € Casado 1 Dependente 22

Remuneração
Mês Valor IRS N.º Dias Trabalho Mês
300.00 € € 22

Remuneração
Semana Mês
267.00 € 1,068.00 €
309.00 € 1,236.00 €
448.00 € 1,792.00 €
433.00 € 1,732.00 €
418.00 € 1,672.00 €
358.00 € 1,432.00 €
371.00 € 1,484.00 €
323.00 € 1,292.00 €
343.00 € 1,372.00 €
410.00 € 1,640.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
420.00 € 1,680.00 €
0

Remuneração
Mês
1,280.00 €
1,280.00 €
1,280.00 €
1,280.00 €
1,280.00 €
1,280.00 €
1,280.00 €

Remuneração
Mês Taxa IRS empregado Valor IRS N.º Dias Trabalho Mês
640.00 € 2% 12.80 € 22
640.00 € 2% 12.80 € 22
640.00 € 2% 12.80 € 22
256.00 € 0% € 8
256.00 € 0% € 8
496.00 € 0% € 24
496.00 € 0% € 24

Remuneração
Mês Taxa IRS Empregado Valor IRS N.º Dias Trabalho Mês
1,280.00 € 11% 140.80 € 22
320.00 € 0% € 8

Remuneração
Mês Taxa IRS Empregado Valor IRS N.º Dias Trabalho Mês
1,120.00 € 9% 100.80 € 22
1,120.00 € 9% 100.80 € 22
320.00 € 0% € 8
320.00 € 0% € 8
MAPA AUXILIAR REMUNERAÇÕES ANUAIS - PREÇOS CONSTANTES DO ANO 0
2009 2010 2011 2012 2013
Empregadas de Limpeza
A € € 8,800.00 € 11,200.00 € 11,200.00 €
B € € 8,800.00 € 11,200.00 € 11,200.00 €
C € € 8,800.00 € 11,200.00 € 11,200.00 €
D € € 8,800.00 € 11,200.00 € 11,200.00 €
E € € 3,520.00 € 4,480.00 € 4,480.00 €

Pessoal Superior
Director Geral € € 30,800.00 € 39,200.00 € 39,200.00 €
Director Operacional € € 22,000.00 € 28,000.00 € 28,000.00 €
Director Comercial € € 26,600.00 € 26,600.00 € 26,600.00 €
Responsável Manutenção € € 7,150.00 € 9,100.00 € 9,100.00 €

Lojista € € 3,300.00 € 4,200.00 € 4,200.00 €

Recepcionistas
A € € 7,040.00 € 8,960.00 € 8,960.00 €
B € € 7,040.00 € 8,960.00 € 8,960.00 €
C € € 7,040.00 € 8,960.00 € 8,960.00 €
D € € 2,816.00 € 3,584.00 € 3,584.00 €
E € € 2,816.00 € 3,584.00 € 3,584.00 €
F € € 5,456.00 € 6,944.00 € 6,944.00 €
G € € 5,456.00 € 6,944.00 € 6,944.00 €

Vigilantes
A € € 14,080.00 € 17,920.00 € 17,920.00 €
B € € 3,520.00 € 4,480.00 € 4,480.00 €

Responsável Wii
A € € 12,320.00 € 15,680.00 € 15,680.00 €
B € € 12,320.00 € 15,680.00 € 15,680.00 €
C € € 3,520.00 € 4,480.00 € 4,480.00 €
D € € 3,520.00 € 4,480.00 € 4,480.00 €

MAPA AUXILIAR REMUNERAÇÕES ANUAIS - PREÇOS CORRENTES


2009 2010 2011 2012 2013

Factor Acumulado de Inflação 1.00000 1.01700 1.03734 1.06224 1.09198

Empregadas de Limpeza
A € € 9,128.59 € 11,897.04 € 12,230.16 €
B € € 9,128.59 € 11,897.04 € 12,230.16 €
C € € 9,128.59 € 11,897.04 € 12,230.16 €
D € € 9,128.59 € 11,897.04 € 12,230.16 €
E € € 3,651.44 € 4,758.82 € 4,892.06 €

Pessoal Superior
Director Geral € € 31,950.07 € 41,639.66 € 42,805.57 €
Director Operacional € € 22,821.48 € 29,742.61 € 30,575.41 €
Director Comercial € € 27,593.24 € 28,255.48 € 29,046.64 €
Responsável Manutenção € € 7,416.98 € 9,666.35 € 9,937.01 €

Lojista € € 3,423.22 € 4,461.39 € 4,586.31 €

Recepcionistas
A € € 7,302.87 € 9,517.64 € 9,784.13 €
B € € 7,302.87 € 9,517.64 € 9,784.13 €
C € € 7,302.87 € 9,517.64 € 9,784.13 €
D € € 2,921.15 € 3,807.05 € 3,913.65 €
E € € 2,921.15 € 3,807.05 € 3,913.65 €
F € € 5,659.73 € 7,376.17 € 7,582.70 €
G € € 5,659.73 € 7,376.17 € 7,582.70 €

Vigilantes
A € € 14,605.75 € 19,035.27 € 19,568.26 €
B € € 3,651.44 € 4,758.82 € 4,892.06 €

Responsável Wii
A € € 12,780.03 € 16,655.86 € 17,122.23 €
B € € 12,780.03 € 16,655.86 € 17,122.23 €
C € € 3,651.44 € 4,758.82 € 4,892.06 €
D € € 3,651.44 € 4,758.82 € 4,892.06 €

MAPA AUXILIAR REMUNERAÇÕES MENSAIS - PREÇOS CORRENTES


2009 2010 2011 2012 2013

Factor Acumulado de Inflação 1.00000 1.01700 1.03734 1.06224 1.09198

Empregadas de Limpeza
A € € 829.87 € 849.79 € 873.58 €
B € € 829.87 € 849.79 € 873.58 €
C € € 829.87 € 849.79 € 873.58 €
D € € 829.87 € 849.79 € 873.58 €
E € € 331.95 € 339.92 € 349.43 €
Pessoal Superior
Director Geral € € 2,904.55 € 2,974.26 € 3,057.54 €
Director Operacional € € 2,074.68 € 2,124.47 € 2,183.96 €
Director Comercial € € 1,970.95 € 2,018.25 € 2,074.76 €
Responsável Manutenção € € 674.27 € 690.45 € 709.79 €

Lojista € € 311.20 € 318.67 € 327.59 €

Recepcionistas
A € € 663.90 € 679.83 € 698.87 €
B € € 663.90 € 679.83 € 698.87 €
C € € 663.90 € 679.83 € 698.87 €
D € € 265.56 € 271.93 € 279.55 €
E € € 265.56 € 271.93 € 279.55 €
F € € 514.52 € 526.87 € 541.62 €
G € € 514.52 € 526.87 € 541.62 €

Vigilantes
A € € 1,327.80 € 1,359.66 € 1,397.73 €
B € € 331.95 € 339.92 € 349.43 €

Responsável Wii
A € € 1,161.82 € 1,189.70 € 1,223.02 €
B € € 1,161.82 € 1,189.70 € 1,223.02 €
C € € 331.95 € 339.92 € 349.43 €
D € € 331.95 € 339.92 € 349.43 €

2014 2015 2016 2017 2018 2019 2020

11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 €


11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 €
11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 €
11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 € 11,200.00 €
4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 €

39,200.00 € 39,200.00 € 39,200.00 € 39,200.00 € 39,200.00 € 39,200.00 € 39,200.00 €


28,000.00 € 28,000.00 € 28,000.00 € 28,000.00 € 28,000.00 € 28,000.00 € 28,000.00 €
26,600.00 € 26,600.00 € 26,600.00 € 26,600.00 € 26,600.00 € 26,600.00 € 26,600.00 €
9,100.00 € 9,100.00 € 9,100.00 € 9,100.00 € 9,100.00 € 9,100.00 € 9,100.00 €

4,200.00 € 4,200.00 € 4,200.00 € 4,200.00 € 4,200.00 € 4,200.00 € 4,200.00 €

8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 €


8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 €
8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 € 8,960.00 €
3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 €
3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 € 3,584.00 €
6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 €
6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 € 6,944.00 €

17,920.00 € 17,920.00 € 17,920.00 € 17,920.00 € 17,920.00 € 17,920.00 € 17,920.00 €


4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 €

15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 €


15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 € 15,680.00 €
4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 €
4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 € 4,480.00 €


2014 2015 2016 2017 2018 2019 2020

1.12365 1.15736 1.19439 1.23500 1.27823 1.32296 1.36927


12,584.84 € 12,962.38 € 13,377.18 € 13,832.00 € 14,316.12 € 14,817.19 € 15,335.79 €
12,584.84 € 12,962.38 € 13,377.18 € 13,832.00 € 14,316.12 € 14,817.19 € 15,335.79 €
12,584.84 € 12,962.38 € 13,377.18 € 13,832.00 € 14,316.12 € 14,817.19 € 15,335.79 €
12,584.84 € 12,962.38 € 13,377.18 € 13,832.00 € 14,316.12 € 14,817.19 € 15,335.79 €
5,033.93 € 5,184.95 € 5,350.87 € 5,532.80 € 5,726.45 € 5,926.87 € 6,134.32 €

44,046.93 € 45,368.34 € 46,820.12 € 48,412.01 € 50,106.43 € 51,860.15 € 53,675.26 €


31,462.09 € 32,405.96 € 33,442.95 € 34,580.01 € 35,790.31 € 37,042.97 € 38,339.47 €
29,888.99 € 30,785.66 € 31,770.80 € 32,851.01 € 34,000.79 € 35,190.82 € 36,422.50 €
10,225.18 € 10,531.94 € 10,868.96 € 11,238.50 € 11,631.85 € 12,038.96 € 12,460.33 €

4,719.31 € 4,860.89 € 5,016.44 € 5,187.00 € 5,368.55 € 5,556.45 € 5,750.92 €

10,067.87 € 10,369.91 € 10,701.74 € 11,065.60 € 11,452.90 € 11,853.75 € 12,268.63 €


10,067.87 € 10,369.91 € 10,701.74 € 11,065.60 € 11,452.90 € 11,853.75 € 12,268.63 €
10,067.87 € 10,369.91 € 10,701.74 € 11,065.60 € 11,452.90 € 11,853.75 € 12,268.63 €
4,027.15 € 4,147.96 € 4,280.70 € 4,426.24 € 4,581.16 € 4,741.50 € 4,907.45 €
4,027.15 € 4,147.96 € 4,280.70 € 4,426.24 € 4,581.16 € 4,741.50 € 4,907.45 €
7,802.60 € 8,036.68 € 8,293.85 € 8,575.84 € 8,876.00 € 9,186.66 € 9,508.19 €
7,802.60 € 8,036.68 € 8,293.85 € 8,575.84 € 8,876.00 € 9,186.66 € 9,508.19 €

20,135.74 € 20,739.81 € 21,403.49 € 22,131.20 € 22,905.80 € 23,707.50 € 24,537.26 €


5,033.93 € 5,184.95 € 5,350.87 € 5,532.80 € 5,726.45 € 5,926.87 € 6,134.32 €

17,618.77 € 18,147.33 € 18,728.05 € 19,364.80 € 20,042.57 € 20,744.06 € 21,470.10 €


17,618.77 € 18,147.33 € 18,728.05 € 19,364.80 € 20,042.57 € 20,744.06 € 21,470.10 €
5,033.93 € 5,184.95 € 5,350.87 € 5,532.80 € 5,726.45 € 5,926.87 € 6,134.32 €
5,033.93 € 5,184.95 € 5,350.87 € 5,532.80 € 5,726.45 € 5,926.87 € 6,134.32 €


2014 2015 2016 2017 2018 2019 2020

1.12365 1.15736 1.19439 1.23500 1.27823 1.32296 1.36927

898.92 € 925.88 € 955.51 € 988.00 € 1,022.58 € 1,058.37 € 1,095.41 €


898.92 € 925.88 € 955.51 € 988.00 € 1,022.58 € 1,058.37 € 1,095.41 €
898.92 € 925.88 € 955.51 € 988.00 € 1,022.58 € 1,058.37 € 1,095.41 €
898.92 € 925.88 € 955.51 € 988.00 € 1,022.58 € 1,058.37 € 1,095.41 €
359.57 € 370.35 € 382.21 € 395.20 € 409.03 € 423.35 € 438.17 €
3,146.21 € 3,240.60 € 3,344.29 € 3,458.00 € 3,579.03 € 3,704.30 € 3,833.95 €
2,247.29 € 2,314.71 € 2,388.78 € 2,470.00 € 2,556.45 € 2,645.93 € 2,738.53 €
2,134.93 € 2,198.98 € 2,269.34 € 2,346.50 € 2,428.63 € 2,513.63 € 2,601.61 €
730.37 € 752.28 € 776.35 € 802.75 € 830.85 € 859.93 € 890.02 €

337.09 € 347.21 € 358.32 € 370.50 € 383.47 € 396.89 € 410.78 €

719.13 € 740.71 € 764.41 € 790.40 € 818.06 € 846.70 € 876.33 €


719.13 € 740.71 € 764.41 € 790.40 € 818.06 € 846.70 € 876.33 €
719.13 € 740.71 € 764.41 € 790.40 € 818.06 € 846.70 € 876.33 €
287.65 € 296.28 € 305.76 € 316.16 € 327.23 € 338.68 € 350.53 €
287.65 € 296.28 € 305.76 € 316.16 € 327.23 € 338.68 € 350.53 €
557.33 € 574.05 € 592.42 € 612.56 € 634.00 € 656.19 € 679.16 €
557.33 € 574.05 € 592.42 € 612.56 € 634.00 € 656.19 € 679.16 €

1,438.27 € 1,481.42 € 1,528.82 € 1,580.80 € 1,636.13 € 1,693.39 € 1,752.66 €


359.57 € 370.35 € 382.21 € 395.20 € 409.03 € 423.35 € 438.17 €

1,258.48 € 1,296.24 € 1,337.72 € 1,383.20 € 1,431.61 € 1,481.72 € 1,533.58 €


1,258.48 € 1,296.24 € 1,337.72 € 1,383.20 € 1,431.61 € 1,481.72 € 1,533.58 €
359.57 € 370.35 € 382.21 € 395.20 € 409.03 € 423.35 € 438.17 €
359.57 € 370.35 € 382.21 € 395.20 € 409.03 € 423.35 € 438.17 €
Índice

DEMONSTRAÇÃO DOS RESULTADOS - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011 2012 2013
Rendas € € 19,827.14 € 26,436.19 € 26,436.19 €
Vendas e Prestações de Serviços € € 2,808,173.40 € 3,386,489.01 € 3,476,119.79 €
C.M.V.M.C. € € 6,648.00 € 8,013.30 € 8,225.64 €

MARGEM BRUTA € € 2,821,352.55 € 3,404,911.91 € 3,494,330.35 €

Fornecimentos e Serviços Externos € € 507,551.87 € 742,707.97 € 751,704.05 €


Custos com o Pessoal € € 602,809.36 € 777,029.81 € 832,709.81 €

EBITDA € € 1,710,991.32 € 1,885,174.12 € 1,909,916.49 €

Amortizações do Exercício € 5,366.67 € 237,138.68 € 237,138.68 € 248,211.81 €

RESULTADO ANTES DE IMPOSTOS € 5,366.67 € 1,473,852.64 € 1,648,035.44 € 1,661,704.68 €

Prejuízos a Deduzir € € 5,366.67 € € €


Matéria Colectável € 5,366.67 € 1,468,485.97 € 1,648,035.44 € 1,661,704.68 €
Imposto sobre o Rendimento do Exercício € € 389,148.78 € 436,729.39 € 440,351.74 €

RESULTADOS LÍQUIDOS € 5,366.67 € 1,084,703.86 € 1,211,306.05 € 1,221,352.94 €

MEIOS LIBERTOS DO PROJECTO € € 1,321,842.54 € 1,448,444.73 € 1,469,564.75 €

DEMONSTRAÇÃO DOS RESULTADOS - A PREÇOS CORRENTES


2009 2010 2011 2012 2013
Rendas € € 20,165.59 € 27,263.88 € 27,754.63 €
Vendas e Prestações de Serviços Err:509 Err:509 2,856,108.92 € 3,492,516.53 € 3,649,482.72 €
C.M.V.M.C. € € 6,761.48 € 8,264.18 € 8,635.87 €

MARGEM BRUTA Err:509 Err:509 2,869,513.03 € 3,511,516.23 € 3,668,601.48 €

Fornecimentos e Serviços Externos € € 519,257.36 € 775,052.82 € 804,326.63 €


Custos com o Pessoal € € 625,318.26 € 824,573.37 € 908,326.83 €

EBITDA Err:509 Err:509 1,724,937.42 € 1,911,890.04 € 1,955,948.02 €

Amortizações do Exercício € 5,372.73 € 239,969.38 € 239,969.38 € 251,079.66 €


RESULTADO ANTES DE IMPOSTOS Err:509 Err:509 1,484,968.03 € 1,671,920.66 € 1,704,868.36 €

Prejuízos a Deduzir € Err:509 Err:509 € €


Matéria Colectável Err:509 Err:509 1,479,595.30 € 1,671,920.66 € 1,704,868.36 €
Imposto sobre o Rendimento do Exercício Err:509 Err:509 392,092.75 € 443,058.97 € 451,790.11 €

RESULTADOS LÍQUIDOS Err:509 Err:509 1,092,875.28 € 1,228,861.68 € 1,253,078.24 €

MEIOS LIBERTOS DO PROJECTO Err:509 Err:509 1,332,844.66 € 1,468,831.07 € 1,504,157.91 €



2014 2015 2016 2017 2018 2019 2020
26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 €
3,475,047.45 € 3,656,024.75 € 3,825,767.12 € 4,006,062.08 € 4,220,076.11 € 4,385,386.20 € 4,536,110.45 €
8,223.10 € 8,651.85 € 9,053.98 € 9,481.11 € 9,990.66 € 10,382.64 € 10,740.05 €

3,493,260.55 € 3,673,809.09 € 3,843,149.34 € 4,023,017.16 € 4,236,521.64 € 4,401,439.74 € 4,551,806.58 €

751,614.79 € 766,679.68 € 780,809.36 € 795,817.45 € 813,721.37 € 827,494.41 € 840,052.72 €


777,029.81 € 832,709.81 € 832,709.81 € 832,709.81 € 832,709.81 € 832,709.81 € 832,709.81 €

1,964,615.95 € 2,074,419.60 € 2,229,630.17 € 2,394,489.90 € 2,590,090.46 € 2,741,235.52 € 2,879,044.05 €

152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 €

1,812,057.48 € 1,921,861.13 € 2,077,071.70 € 2,241,931.43 € 2,437,531.99 € 2,588,677.05 € 2,726,485.58 €

€ € € € € € €
1,812,057.48 € 1,921,861.13 € 2,077,071.70 € 2,241,931.43 € 2,437,531.99 € 2,588,677.05 € 2,726,485.58 €
480,195.23 € 509,293.20 € 550,424.00 € 594,111.83 € 645,945.98 € 685,999.42 € 722,518.68 €

1,331,862.25 € 1,412,567.93 € 1,526,647.70 € 1,647,819.60 € 1,791,586.01 € 1,902,677.63 € 2,003,966.90 €

1,484,420.72 € 1,565,126.40 € 1,679,206.17 € 1,800,378.07 € 1,944,144.49 € 2,055,236.10 € 2,156,525.37 €


2014 2015 2016 2017 2018 2019 2020
28,281.97 € 28,847.61 € 29,482.25 € 30,189.83 € 30,944.57 € 31,718.19 € 32,511.14 €
3,717,675.68 € 3,989,514.61 € 4,266,584.58 € 4,574,877.41 € 4,939,760.98 € 5,261,594.34 € 5,578,494.41 €
8,797.23 € 9,441.04 € 10,097.21 € 10,827.32 € 11,694.45 € 12,457.11 € 13,208.09 €

3,737,160.42 € 4,008,921.18 € 4,285,969.63 € 4,594,239.92 € 4,959,011.10 € 5,280,855.42 € 5,597,797.47 €

825,674.51 € 866,872.63 € 911,656.15 € 962,832.35 € 1,022,567.32 € 1,080,283.29 € 1,139,740.72 €


872,068.89 € 962,636.73 € 993,367.46 € 1,027,066.11 € 1,062,974.28 € 1,100,178.38 € 1,138,684.63 €

2,039,417.02 € 2,179,411.82 € 2,380,946.01 € 2,604,341.46 € 2,873,469.49 € 3,100,393.74 € 3,319,372.12 €

154,018.28 € 155,310.94 € 158,242.22 € 158,549.71 € 158,549.71 € 163,867.10 € 164,241.23 €


1,885,398.74 € 2,024,100.88 € 2,222,703.79 € 2,445,791.75 € 2,714,919.78 € 2,936,526.64 € 3,155,130.89 €

€ € € € € € €
1,885,398.74 € 2,024,100.88 € 2,222,703.79 € 2,445,791.75 € 2,714,919.78 € 2,936,526.64 € 3,155,130.89 €
499,630.67 € 536,386.73 € 589,016.51 € 648,134.81 € 719,453.74 € 778,179.56 € 836,109.69 €

1,385,768.07 € 1,487,714.15 € 1,633,687.29 € 1,797,656.94 € 1,995,466.04 € 2,158,347.08 € 2,319,021.20 €

1,539,786.35 € 1,643,025.09 € 1,791,929.51 € 1,956,206.64 € 2,154,015.75 € 2,322,214.19 € 2,483,262.43 €


Índice

MAPAS DE ESTADO E OUTROS ENTES PÚBLICOS - IVA, SEGURANÇA SOCIAL E IRS - A PREÇOS CONSTANTES DO ANO 0
IMPOSTO SOBRE O VALOR ACRESCENTADO 2009 2010 2011
Vendas Merchandising 20% € € 1,399.58 €
Vendas Totais 5% € € 140,058.78 €
IVA LIQUIDADO € € 141,458.35 €

Compras Totais (merchandising + fse 20%) 20% € € 69,352.71 €


Compras de Imobilizado(Painéis Solares e Fotovoltáicos) 12% € € 6,664.80 €
Compras de Imobilizado 20% 114,087.41 € 334,682.23 € 266,365.47 €
FSE 5% 5% € € 8,759.62 €
IVA DEDUTÍVEL 114,087.41 € 334,682.23 € 351,142.60 €

IVA A PAGAR / RECEBER 114,087.41 € 334,682.23 € 209,684.24 €

SALDO DE IVA 1 114,087.41 € 334,682.23 € 209,684.24 €

SEGURANÇA SOCIAL E IRS 2009 2010 2011


Massa Salarial Anual (14 Meses) € € 215,514.00 €

Segurança Social (Entidade Patronal) 23.75% € € 50,414.58 €


Segurança Social (Trabalhador) 11.00% € € 23,398.54 €

SALDO DE SEGURANÇA SOCIAL 1 € € 6,151.09 €

Empregadas de Limpeza
A 5.00% € € 440.00 €
B 5.00% € € 440.00 €
C 5.00% € € 440.00 €
D 5.00% € € 440.00 €
E 0.00% € € €

Pessoal Superior
Director Geral 22.00% € € 6,776.00 €
Director Operacional 17.00% € € 3,740.00 €
Director Comercial 16.00% € € 4,256.00 €
Responsável Manutenção 2.00% € € 143.00 €

Lojista 0.00% € € €

Recepcionistas
A 2.00% € € 140.80 €
B 2.00% € € 140.80 €
C 2.00% € € 140.80 €
D 0.00% € € €
E 0.00% € € €
F 0.00% € € €
G 0.00% € € €

Vigilantes
A 11.00% € € 1,548.80 €
B 0.00% € € €

Responsável Wii
A 9.00% € € 1,108.80 €
B 9.00% € € 1,108.80 €
C 0.00% € € €
D 0.00% € € €

Retenção Trabalhadores Independentes 20% € € 61,488.00 €


SALDO DE IRS TRABALHADORES DEPENDENTES 1 € € 1,738.65 €
SALDO DE IRS TRABALHADORES INDEPENDENTES 1 € € 5,124.00 €
TOTAL IRS € € 6,862.65 €

MAPAS DE ESTADO E OUTROS ENTES PÚBLICOS - IVA, SEGURANÇA SOCIAL E IRS - A PREÇOS CORRENTES
IMPOSTO SOBRE O VALOR ACRESCENTADO 2009 2010 2011
Vendas Merchandising 20% Err:509 Err:509 1,423.47 €
Vendas Totais 5% € € 142,449.58 €
IVA LIQUIDADO Err:509 € 143,873.05 €

Compras Totais (merchandising + fse 20%) 20% € € 70,536.56 €


Compras de Imobilizado(Painéis Solares e Fotovoltáicos) 12% € € 6,778.57 €
Compras de Imobilizado 20% 114,087.41 € 334,685.87 € 268,455.12 €
FSE 5% 5% € € 9,061.22 €
IVA DEDUTÍVEL 114,087.41 € 334,685.87 € 354,831.47 €

IVA A PAGAR / RECEBER Err:509 334,685.87 € 210,958.42 €

SALDO DE IVA 1 Err:509 334,685.87 € 210,958.42 €

SEGURANÇA SOCIAL E IRS 2009 2010 2011


Massa Salarial Anual (14 Meses) € € 223,561.29 €
Segurança Social (Entidade Patronal) 23.75% € € 52,297.06 €
Segurança Social (Trabalhador) 11.00% € € 24,272.24 €

SALDO DE SEGURANÇA SOCIAL 1 € € 6,380.77 €

Empregadas de Limpeza
A € € 456.43 €
B € € 456.43 €
C € € 456.43 €
D € € 456.43 €
E € € €

Pessoal Superior
Director Geral € € 7,029.02 €
Director Operacional € € 4,107.87 €
Director Comercial € € 4,690.85 €
Responsável Manutenção € € 222.51 €

Lojista € € €

Recepcionistas
A € € 146.06 €
B € € 146.06 €
C € € 146.06 €
D € € €
E € € €
F € € €
G € € €

Vigilantes €
A € € 1,752.69 €
B € € €

Responsável Wii €
A € € 1,150.20 €
B € € 1,150.20 €
C € € €
D € € €

Retenção Trabalhadores Independentes 20% € € 63,783.96 €


SALDO DE IRS TRABALHADORES DEPENDENTES 1 € € 1,863.94 €
SALDO DE IRS TRABALHADORES INDEPENDENTES 1 € € 5,315.33 €
TOTAL IRS € € 7,179.27 €
STANTES DO ANO 0
2012 2013 2014 2015 2016 2017 2018 2019
1,687.01 € 1,731.71 € 1,731.18 € 1,821.44 € 1,906.10 € 1,996.02 € 2,103.30 € 2,185.82 €
168,902.70 € 173,373.06 € 173,319.58 € 182,345.88 € 190,811.83 € 199,804.10 € 210,477.98 € 218,722.85 €
170,589.71 € 175,104.77 € 175,050.76 € 184,167.32 € 192,717.93 € 201,800.12 € 212,581.28 € 220,908.67 €

95,480.05 € 95,833.56 € 95,825.38 € 96,011.26 € 96,171.22 € 96,342.91 € 96,549.47 € 96,702.35 €


€ € € 6,664.80 € € € € 6,664.80 €
€ 25,437.00 € 2,556.41 € 2,839.10 € 29,807.26 € 2,556.41 € € 120,956.09 €
14,078.09 € 14,451.15 € 14,446.68 € 15,199.93 € 15,906.41 € 16,656.82 € 17,552.01 € 18,240.66 €
109,558.14 € 135,721.71 € 112,828.47 € 120,715.08 € 141,884.90 € 115,556.14 € 114,101.49 € 242,563.90 €

61,031.57 € 39,383.07 € 62,222.28 € 63,452.24 € 50,833.04 € 86,243.99 € 98,479.79 € 21,655.23 €

5,085.96 € 3,281.92 € 5,185.19 € 5,287.69 € 4,236.09 € 7,187.00 € 8,206.65 € 21,655.23 €

2012 2013 2014 2015 2016 2017 2018 2019


267,036.00 € 267,036.00 € 267,036.00 € 267,036.00 € 267,036.00 € 267,036.00 € 267,036.00 € 267,036.00 €

62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 € 62,441.05 €


28,981.96 € 28,981.96 € 28,981.96 € 28,981.96 € 28,981.96 € 28,981.96 € 28,981.96 € 28,981.96 €

7,618.58 € 7,618.58 € 7,618.58 € 7,618.58 € 7,618.58 € 7,618.58 € 7,618.58 € 7,618.58 €

560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 €


560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 €
560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 €
560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 € 560.00 €
€ € € € € € € €

8,624.00 € 8,624.00 € 8,624.00 € 8,624.00 € 8,624.00 € 8,624.00 € 8,624.00 € 8,624.00 €


4,760.00 € 4,760.00 € 4,760.00 € 4,760.00 € 4,760.00 € 4,760.00 € 4,760.00 € 4,760.00 €
4,256.00 € 4,256.00 € 4,256.00 € 4,256.00 € 4,256.00 € 4,256.00 € 4,256.00 € 4,256.00 €
182.00 € 182.00 € 182.00 € 182.00 € 182.00 € 182.00 € 182.00 € 182.00 €

€ € € € € € € €

179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 €


179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 €
179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 € 179.20 €
€ € € € € € € €
€ € € € € € € €
€ € € € € € € €
€ € € € € € € €

1,971.20 € 1,971.20 € 1,971.20 € 1,971.20 € 1,971.20 € 1,971.20 € 1,971.20 € 1,971.20 €


€ € € € € € € €

1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 €


1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 € 1,411.20 €
€ € € € € € € €
€ € € € € € € €

81,984.00 € 93,120.00 € 81,984.00 € 93,120.00 € 93,120.00 € 93,120.00 € 93,120.00 € 93,120.00 €


2,116.10 € 2,116.10 € 2,116.10 € 2,116.10 € 2,116.10 € 2,116.10 € 2,116.10 € 2,116.10 €
6,832.00 € 7,760.00 € 6,832.00 € 7,760.00 € 7,760.00 € 7,760.00 € 7,760.00 € 7,760.00 €
8,948.10 € 9,876.10 € 8,948.10 € 9,876.10 € 9,876.10 € 9,876.10 € 9,876.10 € 9,876.10 €

2012 2013 2014 2015 2016 2017 2018 2019


1,739.83 € 1,818.08 € 1,852.05 € 1,987.59 € 2,125.73 € 2,279.44 € 2,461.99 € 2,622.55 €
174,190.87 € 182,019.62 € 185,420.77 € 198,978.83 € 212,797.80 € 228,174.01 € 246,372.55 € 262,424.08 €
175,930.70 € 183,837.69 € 187,272.82 € 200,966.42 € 214,923.53 € 230,453.45 € 248,834.54 € 265,046.63 €

98,472.58 € 100,617.98 € 102,521.39 € 104,774.93 € 107,259.31 € 110,030.59 € 113,023.89 € 116,033.40 €


€ € € 7,272.74 € € € € 7,996.44 €
€ 25,462.94 € 2,734.90 € 3,098.07 € 33,241.75 € 2,919.39 € € 127,489.76 €
14,973.44 € 15,928.52 € 16,534.45 € 18,099.37 € 19,783.17 € 21,722.79 € 24,049.07 € 26,257.88 €
113,446.02 € 142,009.44 € 121,790.74 € 133,245.11 € 160,284.23 € 134,672.77 € 137,072.95 € 277,777.48 €

62,484.68 € 41,828.26 € 65,482.08 € 67,721.31 € 54,639.29 € 95,780.68 € 111,761.59 € 12,730.85 €

5,207.06 € 3,485.69 € 5,456.84 € 5,643.44 € 4,553.27 € 7,981.72 € 9,313.47 € 12,730.85 €

2012 2013 2014 2015 2016 2017 2018 2019


283,655.30 € 291,597.64 € 300,053.98 € 309,055.59 € 318,945.37 € 329,789.52 € 341,332.15 € 353,278.77 €
66,327.14 € 68,184.30 € 70,161.65 € 72,266.50 € 74,579.02 € 77,114.71 € 79,813.72 € 82,607.21 €
30,785.69 € 31,647.69 € 32,565.47 € 33,542.43 € 34,615.79 € 35,792.73 € 37,045.47 € 38,342.06 €

8,092.74 € 8,319.33 € 8,560.59 € 8,817.41 € 9,099.57 € 9,408.95 € 9,738.27 € 10,079.11 €

594.85 € 611.51 € 629.24 € 777.74 € 802.63 € 968.24 € 1,002.13 € 1,185.37 €


594.85 € 611.51 € 629.24 € 777.74 € 802.63 € 968.24 € 1,002.13 € 1,185.37 €
594.85 € 611.51 € 629.24 € 777.74 € 802.63 € 968.24 € 1,002.13 € 1,185.37 €
594.85 € 611.51 € 629.24 € 777.74 € 802.63 € 968.24 € 1,002.13 € 1,185.37 €
€ € € € € € € €

9,160.72 € 9,845.28 € 10,130.79 € 10,434.72 € 10,768.63 € 11,618.88 € 12,025.54 € 12,446.44 €


5,353.67 € 5,809.33 € 5,977.80 € 6,481.19 € 6,688.59 € 6,916.00 € 7,515.96 € 7,779.02 €
4,803.43 € 5,228.39 € 5,380.02 € 5,849.27 € 6,036.45 € 6,570.20 € 6,800.16 € 7,390.07 €
289.99 € 298.11 € 409.01 € 421.28 € 434.76 € 561.93 € 581.59 € 601.95 €

€ € € € € € € €

285.53 € 293.52 € 302.04 € 414.80 € 428.07 € 442.62 € 572.64 € 592.69 €


285.53 € 293.52 € 302.04 € 414.80 € 428.07 € 442.62 € 572.64 € 592.69 €
285.53 € 293.52 € 302.04 € 414.80 € 428.07 € 442.62 € 572.64 € 592.69 €
€ € € € € € € €
€ € € € € € € €
€ € € € 82.94 € 85.76 € 177.52 € 183.73 €
€ € € € 82.94 € 85.76 € 177.52 € 183.73 €

€ € € € € € € €
2,284.23 € 2,543.87 € 2,617.65 € 2,696.18 € 2,996.49 € 3,098.37 € 3,206.81 € 3,556.12 €
€ € € € € € € €

€ € € € € € € €
1,499.03 € 1,883.44 € 1,938.06 € 2,177.68 € 2,247.37 € 2,323.78 € 2,605.53 € 2,696.73 €
1,499.03 € 1,883.44 € 1,938.06 € 2,177.68 € 2,247.37 € 2,323.78 € 2,605.53 € 2,696.73 €
€ € € € € € € €
€ € € € € € € €

87,086.37 € 101,685.06 € 92,121.01 € 107,772.95 € 111,221.68 € 115,003.22 € 119,028.33 € 123,194.32 €


2,343.84 € 2,568.21 € 2,651.21 € 2,882.78 € 3,006.69 € 3,232.11 € 3,451.89 € 3,671.17 €
7,257.20 € 8,473.76 € 7,676.75 € 8,981.08 € 9,268.47 € 9,583.60 € 9,919.03 € 10,266.19 €
9,601.04 € 11,041.96 € 10,327.96 € 11,863.86 € 12,275.16 € 12,815.71 € 13,370.91 € 13,937.37 €
Taxas de Retenção
€ Remuneração Taxa
2020 0 0%
2,261.06 € 556 0%
226,240.26 € 587 1%
228,501.32 € 628 2%
670 3%
96,844.16 € 720 4%
€ 795 5%
2,556.41 € 900 6%
18,868.58 € 980 7%
118,269.15 € 1040 8%
1115 9%
110,232.17 € 1195 11%
1290 12%
9,186.01 € 1390 13%
1525 14%
2020 1670 15%
267,036.00 € 1825 16%
1930 17%
62,441.05 € 2040 18%
28,981.96 € 2165 19%
2310 20%
7,618.58 € 2475 21%
2700 22%
3030 23%
560.00 € 3450 24%
560.00 € 4020 25%
560.00 € 4540 26%
560.00 € 5070 27%
€ 5740 28%
6600 29%
7790 30.5%
8,624.00 € 9380 31.5%
4,760.00 € 11070 32.5%
4,256.00 €
182.00 €

179.20 €
179.20 €
179.20 €



1,971.20 €

1,411.20 €
1,411.20 €

93,120.00 €
2,116.10 €
7,760.00 €
9,876.10 €


2020
2,780.65 €
278,229.56 €
281,010.21 €

119,109.03 €

3,143.87 €
28,536.85 €
150,789.74 €

130,220.47 €

10,851.71 €

2020
365,643.53 €
85,498.46 €
39,684.04 €

10,431.87 €

1,226.86 €
1,226.86 €
1,226.86 €
1,226.86 €

12,882.06 €
8,434.68 €
7,648.72 €
623.02 €

613.43 €
613.43 €
613.43 €


285.25 €
285.25 €


3,680.59 €


3,005.81 €
3,005.81 €

127,506.13 €
3,883.25 €
10,625.51 €
14,508.76 €
Índice

MAPA DAS NECESSIDADES EM FUNDO DE MANEIO - A PREÇOS CONSTANTES DO ANO 0


Prazo 2009 2010 2011 2012 2013
NECESSIDADES DE EXPLORAÇÃO
Stock de Mercadorias 0 0.00 0.00 554.00 667.77 685.47
Tesouraria Mínima 2% 0.00 0.00 55,983.16 67,480.38 69,268.52
IVA a Receber 12 114,087.41 334,682.23 209,684.24 0.00 0.00
TOTAL DAS NECESSIDADES DE EXPLORAÇÃO 114,087.41 334,682.23 266,221.40 68,148.15 69,953.99

RECURSOS DE EXPLORAÇÃO
Fornecedores (Merchandising e FSE) 1 0.00 0.00 33,956.16 46,927.32 47,092.45
Fornecedores (FSE 5%) 1 0.00 0.00 15,329.33 24,636.66 25,289.51
IVA a Pagar 1 0.00 0.00 0.00 5,085.96 3,281.92
Estado (Segurança Social) 1 0.00 0.00 6,151.09 7,618.58 7,618.58
Estado (IRS) 1 0.00 0.00 6,862.65 8,948.10 9,876.10
TOTAL DOS RECURSOS DE EXPLORAÇÃO 0.00 0.00 62,299.23 93,216.63 93,158.56

NECESSIDADES EM FUNDO DE MANEIO 114,087.41 334,682.23 203,922.18 -25,068.47 -23,204.56

INVESTIMENTO EM FUNDO DE MANEIO 114,087.41 220,594.82 -130,760.06 -228,990.65 1,863.91

MAPA DAS NECESSIDADES EM FUNDO DE MANEIO - A PREÇOS CORRENTES


Prazo 2009 2010 2011 2012 2013
NECESSIDADES DE EXPLORAÇÃO
Stock de Mercadorias 60 0.00 0.00 563.46 688.68 719.66
Tesouraria Mínima 2% 0.00 0.00 56,938.79 69,593.12 72,723.12
IVA a Receber 60 Err:509 334,685.87 210,958.42 0.00 0.00
TOTAL DAS NECESSIDADES DE EXPLORAÇÃO Err:509 334,685.87 268,460.67 70,281.80 73,442.78

RECURSOS DE EXPLORAÇÃO
Fornecedores (Mercadorias e FSE) 1 0.00 0.00 34,535.79 48,397.35 49,442.31
Fornecedores (FSE 5%) 1 0.00 0.00 15,857.14 26,203.51 27,874.91
IVA a Pagar 1 Err:509 0.00 0.00 5,207.06 3,485.69
Estado (Segurança Social) 1 0.00 0.00 6,380.77 8,092.74 8,319.33
Estado (IRS) 1 0.00 0.00 7,179.27 9,601.04 11,041.96
TOTAL DOS RECURSOS DE EXPLORAÇÃO Err:509 0.00 63,952.97 97,501.70 100,164.20

NECESSIDADES EM FUNDO DE MANEIO Err:509 334,685.87 204,507.71 -27,219.89 -26,721.42

INVESTIMENTO EM FUNDO DE MANEIO Err:509 220,598.46 -130,178.17 -231,727.60 498.47



2014 2015 2016 2017 2018 2019 2020

685.26 720.99 754.50 790.09 832.55 865.22 895.00


69,247.13 72,857.65 76,244.03 79,840.94 84,131.87 87,432.78 90,442.56
0.00 0.00 0.00 0.00 0.00 21,655.23 0.00
69,932.39 73,578.64 76,998.53 80,631.03 84,964.43 109,953.23 91,337.57

47,090.40 47,136.87 47,176.86 47,219.78 47,271.43 47,309.64 47,345.10


25,281.69 26,599.87 27,836.22 29,149.43 30,716.02 31,921.16 33,020.01
5,185.19 5,287.69 4,236.09 7,187.00 8,206.65 0.00 9,186.01
7,618.58 7,618.58 7,618.58 7,618.58 7,618.58 7,618.58 7,618.58
8,948.10 9,876.10 9,876.10 9,876.10 9,876.10 9,876.10 9,876.10
94,123.97 96,519.11 96,743.85 101,050.89 103,688.78 96,725.49 107,045.81

-24,191.58 -22,940.48 -19,745.32 -20,419.86 -18,724.35 13,227.74 -15,708.24

-987.02 1,251.11 3,195.15 -674.54 1,695.51 31,952.09 -28,935.98


2014 2015 2016 2017 2018 2019 2020

733.10 786.75 841.43 902.28 974.54 1,038.09 1,100.67


74,081.97 79,503.47 85,029.12 91,177.45 98,479.58 104,902.01 111,225.98
0.00 0.00 0.00 0.00 0.00 12,730.85 0.00
74,815.08 80,290.23 85,870.55 92,079.72 99,454.12 118,670.95 112,326.65

50,379.63 51,438.00 52,614.47 53,926.48 55,335.27 56,764.63 58,227.45


28,935.28 31,673.89 34,620.55 38,014.88 42,085.86 45,951.29 49,939.48
5,456.84 5,643.44 4,553.27 7,981.72 9,313.47 0.00 10,851.71
8,560.59 8,817.41 9,099.57 9,408.95 9,738.27 10,079.11 10,431.87
10,327.96 11,863.86 12,275.16 12,815.71 13,370.91 13,937.37 14,508.76
103,660.30 109,436.60 113,163.02 122,147.74 129,843.78 126,732.40 143,959.26

-28,845.22 -29,146.38 -27,292.46 -30,068.02 -30,389.66 -8,061.45 -31,632.61

-2,123.80 -301.16 1,853.92 -2,775.56 -321.64 22,328.21 -23,571.16


Índice

MAPA SÍNTESE DO CASH-FLOW - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011 2012
RECURSOS FINANCEIROS
Meios Libertos do Projecto 0.00 0.00 1,321,842.54 1,448,444.73
Desinvestimento em Fundo de Maneio 0.00 0.00 130,760.06 228,990.65
TOTAL DOS RECURSOS FINANCEIROS 0.00 0.00 1,452,602.60 1,677,435.38

NECESSIDADES FINANCEIRAS
Investimento em Capital Fixo 3,820,437.06 1,673,411.17 1,387,367.34 0.00
Investimento em Fundo de Maneio 114,087.41 220,594.82 0.00 0.00
TOTAL DAS NECESSIDADES FINANCEIRAS 3,934,524.47 1,894,006.00 1,387,367.34 0.00

CASH-FLOW LÍQUIDO DO PROJECTO -3,934,524.47 -1,894,006.00 65,235.26 1,677,435.38

CASH-FLOW ACUMULADO -3,934,524.47 -5,828,530.47 -5,763,295.21 -4,085,859.83

MAPA SÍNTESE DO CASH-FLOW - A PREÇOS CORRENTES


2009 2010 2011 2012
RECURSOS FINANCEIROS
Meios Libertos do Projecto Err:509 Err:509 1,332,844.66 1,468,831.07
Desinvestimento em Fundo de Maneio Err:509 0.00 130,178.17 231,727.60
TOTAL DOS RECURSOS FINANCEIROS Err:509 0.00 1,463,022.83 1,700,558.66

NECESSIDADES FINANCEIRAS
Investimento em Capital Fixo 3,820,437.06 1,673,429.37 1,398,763.65 0.00
Investimento em Fundo de Maneio Err:509 220,598.46 0.00 0.00
TOTAL DAS NECESSIDADES FINANCEIRAS Err:509 1,894,027.84 1,398,763.65 0.00

CASH-FLOW LÍQUIDO DO PROJECTO Err:509 -1,894,027.84 64,259.18 1,700,558.66

CASH-FLOW ACUMULADO Err:509 Err:509 Err:509 Err:509


2013 2014 2015 2016 2017 2018

1,469,564.75 1,484,420.72 1,565,126.40 1,679,206.17 1,800,378.07 1,944,144.49


0.00 987.02 0.00 0.00 674.54 0.00
1,469,564.75 1,485,407.74 1,565,126.40 1,679,206.17 1,801,052.61 1,944,144.49

127,185.01 12,782.06 69,735.48 149,036.31 12,782.06 0.00


1,863.91 0.00 1,251.11 3,195.15 0.00 1,695.51
129,048.92 12,782.06 70,986.59 152,231.46 12,782.06 1,695.51

1,340,515.83 1,472,625.68 1,494,139.82 1,526,974.71 1,788,270.55 1,942,448.98

-2,745,344.00 -1,272,718.32 221,421.49 1,748,396.20 3,536,666.75 5,479,115.73

2013 2014 2015 2016 2017 2018

1,504,157.91 1,539,786.35 1,643,025.09 1,791,929.51 1,956,206.64 2,154,015.75


0.00 2,123.80 301.16 0.00 2,775.56 321.64
1,504,157.91 1,541,910.15 1,643,326.25 1,791,929.51 1,958,982.20 2,154,337.39

127,314.68 13,674.50 76,096.51 166,208.76 14,596.97 0.00


498.47 0.00 0.00 1,853.92 0.00 0.00
127,813.15 13,674.50 76,096.51 168,062.68 14,596.97 0.00

1,376,344.76 1,528,235.65 1,567,229.74 1,623,866.83 1,944,385.23 2,154,337.39

Err:509 Err:509 Err:509 2,031,942.52 3,976,327.75 6,130,665.14



2019 2020 VC

2,055,236.10 2,156,525.37
0.00 28,935.98
2,055,236.10 2,185,461.35

660,320.44 12,782.06
31,952.09 0.00
692,272.53 12,782.06

1,362,963.57 2,172,679.29 44,146,301.46

6,842,079.30 9,014,758.60


2019 2020 VC

2,322,214.19 2,483,262.43
0.00 23,571.16
2,322,214.19 2,506,833.59

704,085.78 15,719.34
22,328.21 0.00
726,413.99 15,719.34

1,595,800.19 2,491,114.26 50,994,786.23

7,726,465.33 10,217,579.59
PRESSUPOSTOS DE MERCADO
β Levered 0.9
β Debt 0.00
Equity 18.79%
Debt 81.21%
Debt/Equity do Negócio 4.32
Debt/Equity do Mercado 81.62%
Efeito Fiscal 73.50%
β Unlevered do Negócio 0.5625
Rendibilidade do Activo sem Risco 4.68%
Prémio de Risco de Mercado 6.50%
β Levered do Negócio 2.35
Prémio de Risco do Negócio 3.66%

TAXA DE ACTUALIZAÇÃO
0 1
Taxa Nominal de Actualização Unlevered 8.34% 8.34%
Taxa de Inflação Anual 0.00% 0.70%
Taxa Real de Actualização Unlevered 8.34% 7.58%

AVALIAÇÃO ECONÓMICA DO PROJECTO - A PREÇOS CONSTANTES DO ANO 0


AVALIAÇÃO DO PROJECTO 0 1
Cash Flow Anual do Projecto 3,934,524.47 € 1,894,006.00 €

Taxa Real de Actualização 8.34% 7.58%

Cash Flow Descontado 3,934,524.47 € 1,760,500.57 €


Valor Actual Líquido do Projecto 28,213,436.77 €
Taxa Interna de Rentabilidade Real do Projecto (S/ Valor Continuidade) 15.79%
Payback Period do Projecto 7.07 =

Taxa Adivinha Nominal 19.9186%


Cash Flow Continuidade
Valor de Continuidade
Cash Flow Nominal 3,934,524.47 € 1,894,006.00 €
Taxa Interna de Rentabilidade Real do Projecto (C/ Valor Continuidade) 21.6188%
Difrerença de Tir -1.7001%
AVALIAÇÃO ECONÓMICA DO PROJECTO - A PREÇOS CORRENTES
AVALIAÇÃO DO PROJECTO 0 1
Cash Flow Anual do Projecto Err:509 1,894,027.84 €

Factor Acumulado de Inflação 1.0000 1.0070

Cash Flow Deflaccionado Err:509 1,880,861.80 €

Taxa Real de Actualização 8.34% 7.58%

Factor de Actualização 1.0000 1.0758


Cash Flow Descontado Err:509 1,748,282.89 €
Valor Actual Líquido do Projecto Err:509
Taxa Interna de Rentabilidade Real do Projecto (S/ Valor Continuidade) Err:509
Payback Period do Projecto Err:509 =

Taxa Adivinha Nominal 21.0091%


Cash Flow Continuidade
Valor de Continuidade
Cash Flow Nominal Err:509 1,894,027.84 €
Taxa Interna de Rentabilidade Real do Projecto (C/ Valor Continuidade) Err:509
Difrerença de Tir Err:509
Índice

2 3 4 5 6 7 8
8.34% 8.34% 8.34% 8.34% 8.34% 8.34% 8.34%
1.00% 1.40% 1.80% 1.90% 2.00% 2.20% 2.40%
7.26% 6.84% 6.42% 6.32% 6.21% 6.00% 5.80%

2 3 4 5 6 7 8
65,235.26 € 1,677,435.38 € 1,340,515.83 € 1,472,625.68 € 1,494,139.82 € 1,526,974.71 € 1,788,270.55 €

7.26% 6.84% 6.42% 6.32% 6.21% 6.00% 5.80%

56,699.06 € 1,375,421.20 € 1,045,115.90 € 1,084,151.65 € 1,040,745.08 € 1,015,232.61 € 1,139,293.64 €

7 Anos e 0 Meses

65,235.26 € 1,677,435.38 € 1,340,515.83 € 1,472,625.68 € 1,494,139.82 € 1,526,974.71 € 1,788,270.55 €


2 3 4 5 6 7 8
64,259.18 € 1,700,558.66 € 1,376,344.76 € 1,528,235.65 € 1,567,229.74 € 1,623,866.83 € 1,944,385.23 €

1.0171 1.0313 1.0499 1.0698 1.0912 1.1152 1.1420

63,180.69 € 1,648,932.28 € 1,310,963.67 € 1,428,497.76 € 1,436,222.52 € 1,456,091.22 € 1,702,630.97 €

7.26% 6.84% 6.42% 6.32% 6.21% 6.00% 5.80%

1.1540 1.2329 1.3121 1.3950 1.4816 1.5706 1.6616


54,750.22 € 1,337,419.55 € 999,145.26 € 1,024,040.36 € 969,359.25 € 927,102.72 € 1,024,672.57 €

Err:509

64,259.18 € 1,700,558.66 € 1,376,344.76 € 1,528,235.65 € 1,567,229.74 € 1,623,866.83 € 1,944,385.23 €



9 10 11
8.34% 8.34% 8.34%
2.50% 2.50% 2.50%
5.69% 5.69% 5.69%
MAPA AUXILIAR PARA CÁLCULO DO PAYBACK PERIOD
A PREÇOS CONSTANTES DO ANO 0
0 3,934,524.47 € 0
€ 1 5,695,025.04 € 1
9 10 11 VC 2 5,638,325.98 € 2
1,942,448.98 € 1,362,963.57 € 2,172,679.29 € 44,146,301.46 € 3 4,262,904.79 € 3
4 3,217,788.89 € 4
5.69% 5.69% 5.69% 5 2,133,637.24 € 5
6 1,092,892.16 € 6
1,180,028.65 € 783,387.07 € 1,181,508.87 € 24,006,878.08 € 7 77,659.55 € 7
8 1,061,634.10 € 8
9 2,241,662.75 € 9
10 3,025,049.81 € 10
11 4,206,558.69 € 11
A PREÇOS CORRENTES
0 Err:509 0
1 Err:509 1
2,194,406.09 € 2 Err:509 2
11,599,180.93 € 3 Err:509 3
1,942,448.98 € 1,362,963.57 € 13,771,860.23 € 4 Err:509 4
5 Err:509 5
6 Err:509 6
7 Err:509 7
8 Err:509 8
9 Err:509 9
€ 10 Err:509 10
9 10 11 VC 11 Err:509 11
2,154,337.39 € 1,595,800.19 € 2,491,114.26 € 50,994,786.23 €

1.1705 1.1998 1.2298

1,840,467.14 € 1,330,053.15 € 2,025,630.68 € 41,466,023.91 €

5.69% 5.69% 5.69%

1.7562 1.8563 1.9619


1,047,953.14 € 716,526.09 € 1,032,458.23 € 22,549,335.91 €

2,516,025.40 €
12,574,403.78 €
2,154,337.39 € 1,595,800.19 € 15,065,518.04 €
CÁLCULO DO PAYBACK PERIOD

7 -77659.55
8 1061634.1

7.07 7.00
0.07 0.82 0

11 Err:509
12 Err:509
Err:509 Err:509
Err:509 Err:509 Err:509
ANÁLISE DA VIABILIDADE FINANCEIRA DO PROJECTO
PRESSUPOSTOS
Despesas de Investimento 5,917,866.90 €
Margem Accionistas 25%
Disponibilidade dos Accionistas 1,479,466.73 €
Montante do Empréstimo 5,917,866.90 €
Taxa de IRC 26.50%

COMPARAÇÃO DAS ALTERNATIVAS DE FINANCIAMENTO Empréstimo 1 Empréstimo 2


Percentagem do Financiamento Total 64.33% 28.23%
Montante do Empréstimo 3,806,937.06 € 1,670,811.17 €
Taxa de Juro (Nominal) 5.00% 5.00%
Duração do Contrato (em Anos) 12 11
Pagamento dos Juros Anual Anual
Renda Postecipada Postecipada
Reembolso do Capital Anual Anual
Carência (em Anos) 2 1
Imposto de Selo sobre Abertura de Crédito 0.60% 0.60%
Imposto de Selo sobre Juros 4.00% 4.00%

VALOR ACTUAL DAS ECONOMIAS FISCAIS DO FINANCIAMENTO


EMPRÉSTIMO BANCÁRIO EM EUROS 0 1
Imposto de Selo sobre Abertura de Crédito 22,841.62 €
Imputação Anual do I.S.A.C. (pela Duração do Contrato) 2,284.16 €
Economia Fiscal Anual do I.S.A.C. 605.30 €
Taxa de Juro Anual Nominal 5.00%
Juros Intercalares 63,448.95 € 190,346.85 €
Imputação Anual dos Juros Intercalares (3 Anos) 21,149.65 € 63,448.95 €
Prestação 493,015.77 €
Reembolso Extra € €
Penalização Amortização Antecipada € €
Capital em Dívida Inicial 3,806,937.06 € 3,806,937.06 €
Juro do Período 63,448.95 € 190,346.85 €
Reembolso do Capital € €
Prestação € €
Capital em Dívida Final 3,806,937.06 € 3,806,937.06 €
Imposto de Selo sobre Abertura de Crédito 22,841.62 € -
Imposto de Selo sobre Juros 2,537.96 € 7,613.87 €
Economia Fiscal dos Juros 16,813.97 € 50,441.92 €
Economia Fiscal do Imposto Selo sobre os Juros 672.56 € 2,017.68 €
Economia Fiscal do Imposto de Selo sobre Abertura de Crédito -
Economia Fiscal dos Juros Intercalares € €
Economia Fiscal Total 17,486.53 € 52,459.59 €
Factor de Actualização 1.0000 0.9524
Economia Fiscal Total Actualizada 17,486.53 € 49,961.52 €
Valor Actual Líquido da Decisão de Financiamento 319,812.76 €

VALOR ACTUAL DAS ECONOMIAS FISCAIS DO FINANCIAMENTO


EMPRÉSTIMO BANCÁRIO EM EUROS 0 1
Imposto de Selo sobre Abertura de Crédito 10,024.87 €
Imputação Anual do I.S.A.C. (pela Duração do Contrato) 1,002.49 €
Economia Fiscal Anual do I.S.A.C. 265.66 €
Taxa de Juro Anual Nominal 5.00%
Juros Intercalares 83,540.56 €
Imputação Anual dos Juros Intercalares (3 Anos) 27,846.85 €
Prestação 216,377.69 €
Reembolso Extra € €
Penalização Amortização Antecipada € €
Capital em Dívida Inicial € 1,670,811.17 €
Juro do Período € 83,540.56 €
Reembolso do Capital € €
Prestação € €
Capital em Dívida Final € 1,670,811.17 €
Imposto de Selo sobre Abertura de Crédito 10,024.87 € -
Imposto de Selo sobre Juros € 3,341.62 €
Economia Fiscal dos Juros € 22,138.25 €
Economia Fiscal do Imposto Selo sobre os Juros € 885.53 €
Economia Fiscal do Imposto de Selo sobre Abertura de Crédito -
Economia Fiscal dos Juros Intercalares € €
Economia Fiscal Total € 23,023.78 €
Factor de Actualização 1.0000 0.9524
Economia Fiscal Total Actualizada € 21,927.41 €
Valor Actual Líquido da Decisão de Financiamento 144,508.33 €

CONTRATO DE LEASING
0 1
Montante do Contrato 315,533.66 €
Valor Residual (em Percentagem) 0.00%
Valor Residual (em Euros) €
Taxa de Juro Anual do Contrato 5.00%
Número de Prestações 5
Valor Actual do Valor Residual €
Renda Normal / Antecipada Antecipada
Valor Actual da Renda 4.55
Renda Anual 69,409.83 €
Juros Intercalares €
Imputação Anual dos Juros Intercalares (3 Anos) €

Capital em Divida Inicial € €


Renda € €
Juros € €
Amortização € €
Capital em Dívida Final € €
Economia Fiscal dos Juros € €
Economia Fiscal dos Juros Intercalares € €
Economia Fiscal Total € €
Factor de Actualização 1.0000 0.9524
Economia Fiscal Total Actualizada € €
Valor Actual Líquido da Decisão de Financiamento 6,871.05 €

CONTRATO DE LEASING
0 1
Montante do Contrato 124,585.01 €
Valor Residual (em Percentagem) 0.00%
Valor Residual (em Euros) €
Taxa de Juro Anual do Contrato 5.00%
Número de Prestações 5
Valor Actual do Valor Residual €
Renda Normal / Antecipada Antecipada
Valor Actual da Renda 4.55
Renda Anual 27,405.71 €
Juros Intercalares €
Imputação Anual dos Juros Intercalares (3 Anos) €

Capital em Divida Inicial € €


Renda € €
Juros € €
Amortização € €
Capital em Dívida Final € €
Economia Fiscal dos Juros € €
Economia Fiscal dos Juros Intercalares € €
Economia Fiscal Total € €
Factor de Actualização 1.0000 0.9524
Economia Fiscal Total Actualizada € €
Valor Actual Líquido da Decisão de Financiamento 2,460.73 €

Valor Actual Líquido da Decisão de Financiamento Total 473,652.86 €

Valor Actual Líquido do Projecto (a Preços Constantes do Ano 0) 28,213,436.77 €


Valor Actual Líquido Ajustado do Projecto (a Preços Constantes do Ano 0) 28,687,089.63 €
Valor Actual Líquido do Projecto (a Preços Correntes) Err:509
Valor Actual Líquido Ajustado do Projecto (a Preços Correntes) Err:509
Índice

Contrato de Leasing 1 Contrato de Leasing 2


5.33% 2.11%
315,533.66 € 124,585.01 €
5.00% 5.00%
5 5
Anual Anual
Antecipada Antecipada
Anual Anual
0 0
- -
-

2 3 4 5 6 7

€ € € € € €
€ € € € € €
3,806,937.06 € 3,504,268.15 € 3,186,465.79 € 2,852,773.31 € 2,502,396.21 € 2,134,500.26 €
190,346.85 € 175,213.41 € 159,323.29 € 142,638.67 € 125,119.81 € 106,725.01 €
302,668.91 € 317,802.36 € 333,692.48 € 350,377.10 € 367,895.96 € 386,290.75 €
493,015.77 € 493,015.77 € 493,015.77 € 493,015.77 € 493,015.77 € 493,015.77 €
3,504,268.15 € 3,186,465.79 € 2,852,773.31 € 2,502,396.21 € 2,134,500.26 € 1,748,209.50 €
- - - -
7,613.87 € 7,008.54 € 6,372.93 € 5,705.55 € 5,004.79 € 4,269.00 €
50,441.92 € 46,431.55 € 42,220.67 € 37,799.25 € 33,156.75 € 28,282.13 €
2,017.68 € 1,857.26 € 1,688.83 € 1,511.97 € 1,326.27 € 1,131.29 €
605.30 € 605.30 € 605.30 € 605.30 € 605.30 € 605.30 €
5,604.66 € 5,604.66 € 5,604.66 € € € €
58,669.55 € 54,498.78 € 50,119.46 € 39,916.52 € 35,088.32 € 30,018.72 €
0.9070 0.8638 0.8227 0.7835 0.7462 0.7107
53,215.01 € 47,078.09 € 41,233.40 € 31,275.64 € 26,183.45 € 21,333.74 €

2 3 4 5 6 7

€ € € € € €
€ € € € € €
1,670,811.17 € 1,537,974.04 € 1,398,495.05 € 1,252,042.11 € 1,098,266.53 € 936,802.16 €
83,540.56 € 76,898.70 € 69,924.75 € 62,602.11 € 54,913.33 € 46,840.11 €
132,837.13 € 139,478.99 € 146,452.94 € 153,775.58 € 161,464.36 € 169,537.58 €
216,377.69 € 216,377.69 € 216,377.69 € 216,377.69 € 216,377.69 € 216,377.69 €
1,537,974.04 € 1,398,495.05 € 1,252,042.11 € 1,098,266.53 € 936,802.16 € 767,264.58 €
- - - -
3,341.62 € 3,075.95 € 2,796.99 € 2,504.08 € 2,196.53 € 1,873.60 €
22,138.25 € 20,378.16 € 18,530.06 € 16,589.56 € 14,552.03 € 12,412.63 €
885.53 € 815.13 € 741.20 € 663.58 € 582.08 € 496.51 €
265.66 € 265.66 € 265.66 € 265.66 € 265.66 € 265.66 €
7,379.42 € 7,379.42 € 7,379.42 € € € €
30,668.85 € 28,838.36 € 26,916.34 € 17,518.80 € 15,399.77 € 13,174.79 €
0.9070 0.8638 0.8227 0.7835 0.7462 0.7107
27,817.55 € 24,911.66 € 22,144.14 € 13,726.44 € 11,491.55 € 9,363.08 €

2 3 4 5 6 7
315,533.66 € 246,123.83 € 189,020.19 € 129,061.37 € 66,104.60 € 0.00 €
69,409.83 € 69,409.83 € 69,409.83 € 69,409.83 € 69,409.83 € €
€ 12,306.19 € 9,451.01 € 6,453.07 € 3,305.23 € 0.00 €
69,409.83 € 57,103.64 € 59,958.82 € 62,956.76 € 66,104.60 € 0.00 €
246,123.83 € 189,020.19 € 129,061.37 € 66,104.60 € 0.00 € 0.00 €
€ 3,261.14 € 2,504.52 € 1,710.06 € 875.89 € 0.00 €
€ € € € € €
€ 3,261.14 € 2,504.52 € 1,710.06 € 875.89 € 0.00 €
0.9070 0.8638 0.8227 0.7835 0.7462 0.7107
€ 2,817.10 € 2,060.47 € 1,339.88 € 653.60 € 0.00 €

2 3 4 5 6 7

€ € 124,585.01 € 97,179.30 € 74,632.55 € 50,958.47 €


€ € 27,405.71 € 27,405.71 € 27,405.71 € 27,405.71 €
€ € € 4,858.96 € 3,731.63 € 2,547.92 €
€ € 27,405.71 € 22,546.75 € 23,674.08 € 24,857.79 €
€ € 97,179.30 € 74,632.55 € 50,958.47 € 26,100.68 €
€ € € 1,287.63 € 988.88 € 675.20 €
€ € € € € €
€ € € 1,287.63 € 988.88 € 675.20 €
0.9070 0.8638 0.8227 0.7835 0.7462 0.7107
€ € € 1,008.89 € 737.92 € 479.85 €
8 9 10 11

€ 659,096.58 € € €
€ 12,923.46 € € €
1,748,209.50 € 1,342,604.21 € 270,545.54 € €
87,410.48 € 67,130.21 € 13,527.28 € €
405,605.29 € 425,885.56 € 270,545.54 € €
493,015.77 € 493,015.77 € 284,072.82 € €
1,342,604.21 € 270,545.54 € € €

3,496.42 € 2,685.21 € 541.09 € €


23,163.78 € 17,789.51 € 3,584.73 € €
926.55 € 711.58 € 143.39 € €
605.30 € 605.30 € 605.30 € 605.30 €
€ € € €
24,695.63 € 19,106.39 € 4,333.42 € 605.30 €
0.6768 0.6446 0.6139 0.5847
16,714.97 € 12,316.15 € 2,660.34 € 353.91 €

8 9 10 11

€ 402,334.93 € € €
€ 7,888.92 € € €
767,264.58 € 589,250.12 € 7,888.92 € €
38,363.23 € 29,462.51 € 394.45 € €
178,014.46 € 186,915.18 € 7,888.92 € €
216,377.69 € 216,377.69 € 8,283.37 € €
589,250.12 € 7,888.92 € € €

1,534.53 € 1,178.50 € 15.78 € €


10,166.26 € 7,807.56 € 104.53 € €
406.65 € 312.30 € 4.18 € €
265.66 € 265.66 € 265.66 € 265.66 €
€ € € €
10,838.56 € 8,385.53 € 374.37 € 265.66 €
0.6768 0.6446 0.6139 0.5847
7,335.97 € 5,405.38 € 229.83 € 155.33 €

8 9 10 11
0.00 € 0.00 € 0.00 € 0.00 €
€ € € €
0.00 € 0.00 € 0.00 € 0.00 €
0.00 € 0.00 € 0.00 € 0.00 €
0.00 € 0.00 € 0.00 € 0.00 €
0.00 € 0.00 € 0.00 € 0.00 €
€ € € €
0.00 € 0.00 € 0.00 € 0.00 €
0.6768 0.6446 0.6139 0.5847
0.00 € 0.00 € 0.00 € 0.00 €

8 9 10 11

26,100.68 € 0.00 € 0.00 € 0.00 €


27,405.71 € € € €
1,305.03 € 0.00 € 0.00 € 0.00 €
26,100.68 € 0.00 € 0.00 € 0.00 €
0.00 € 0.00 € 0.00 € 0.00 €
345.83 € 0.00 € 0.00 € 0.00 €
€ € € €
345.83 € 0.00 € 0.00 € 0.00 €
0.6768 0.6446 0.6139 0.5847
234.07 € 0.00 € 0.00 € 0.00 €
Índice

DEMONSTRAÇÃO DE RESULTADOS - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011 2012 2013
Rendas € € 19,827.14 € 26,436.19 € 26,436.19 €
Vendas e Prestações de Serviços € € 2,808,173.40 € 3,386,489.01 € 3,476,119.79 €
C.M.V.M.C. € € 6,648.00 € 8,013.30 € 8,225.64 €

MARGEM BRUTA € € 2,821,352.55 € 3,404,911.91 € 3,494,330.35 €

Fornecimentos e Serviços Externos € € 507,551.87 € 742,707.97 € 751,704.05 €


Custos com o Pessoal € € 602,809.36 € 777,029.81 € 832,709.81 €

EBITDA € € 1,710,991.32 € 1,885,174.12 € 1,909,916.49 €

Amortizações do Exercício € 5,366.67 € 237,138.68 € 258,288.33 € 360,657.26 €

EBIT € 5,366.67 € 1,473,852.64 € 1,626,885.79 € 1,549,259.23 €

Encargos Financeiros € € 273,887.41 € 264,418.30 € 238,699.05 €

RESULTADO DE EXPLORAÇÃO € 5,366.67 € 1,199,965.23 € 1,362,467.49 € 1,310,560.18 €

Prejuízos a Deduzir € € 5,366.67 € € €


Matéria Colectável € 5,366.67 € 1,194,598.56 € 1,362,467.49 € 1,310,560.18 €
Imposto sobre o Rendimento do Exercício € € 316,568.62 € 361,053.89 € 347,298.45 €

Componentes Eventuais € 2,037.67 € 822.22 € 10,469.43 € 27,674.75 €

RESULTADO LÍQUIDO € 3,329.00 € 884,218.83 € 1,011,883.04 € 990,936.48 €

Prejuízos Acumulados € 3,329.00 € € € €


Resultados a Distribuir € € € € €

RESULTADOS RETIDOS € 3,329.00 € 884,218.83 € 1,011,883.04 € 990,936.48 €

DEMONSTRAÇÃO DE RESULTADOS - A PREÇOS CORRENTES


2009 2010 2011 2012 2013
Rendas € € 20,165.59 € 27,263.88 € 27,754.63 €
Vendas e Prestações de Serviços Err:509 Err:509 2,856,108.92 € 3,492,516.53 € 3,649,482.72 €
C.M.V.M.C. € € 6,761.48 € 8,264.18 € 8,635.87 €
MARGEM BRUTA Err:509 Err:509 2,869,513.03 € 3,511,516.23 € 3,668,601.48 €

Fornecimentos e Serviços Externos € € 519,257.36 € 775,052.82 € 804,326.63 €


Custos com o Pessoal € € 625,318.26 € 824,573.37 € 908,326.83 €

EBITDA Err:509 Err:509 1,724,937.42 € 1,911,890.04 € 1,955,948.02 €

Amortizações do Exercício € 5,372.73 € 239,969.38 € 261,119.03 € 363,525.12 €

EBIT Err:509 Err:509 1,484,968.03 € 1,650,771.01 € 1,592,422.90 €

Encargos Financeiros Err:509 € Err:509 264,418.30 € 238,699.05 €

RESULTADO DE EXPLORAÇÃO Err:509 Err:509 1,211,080.62 € 1,386,352.71 € 1,353,723.85 €

Prejuízos a Deduzir € Err:509 Err:509 € €


Matéria Colectável Err:509 Err:509 Err:509 1,386,352.71 € 1,353,723.85 €
Imposto sobre o Rendimento do Exercício Err:509 Err:509 Err:509 367,383.47 € 358,736.82 €

Componentes Eventuais € Err:509 Err:509 Err:509 Err:509

RESULTADO LÍQUIDO Err:509 Err:509 Err:509 1,029,455.41 € 1,023,107.37 €

Prejuízos Acumulados Err:509 Err:509 Err:509 € €


Resultados a Distribuir Err:509 Err:509 Err:509 € €

RESULTADOS RETIDOS Err:509 Err:509 Err:509 1,029,455.41 € 1,023,107.37 €



2014 2015 2016 2017 2018 2019 2020
26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 € 26,436.19 €
3,475,047.45 € 3,656,024.75 € 3,825,767.12 € 4,006,062.08 € 4,220,076.11 € 4,385,386.20 € 4,536,110.45 €
8,223.10 € 8,651.85 € 9,053.98 € 9,481.11 € 9,990.66 € 10,382.64 € 10,740.05 €

3,493,260.55 € 3,673,809.09 € 3,843,149.34 € 4,023,017.16 € 4,236,521.64 € 4,401,439.74 € 4,551,806.58 €

751,614.79 € 766,679.68 € 780,809.36 € 795,817.45 € 813,721.37 € 827,494.41 € 840,052.72 €


777,029.81 € 832,709.81 € 832,709.81 € 832,709.81 € 832,709.81 € 832,709.81 € 832,709.81 €

1,964,615.95 € 2,074,419.60 € 2,229,630.17 € 2,394,489.90 € 2,590,090.46 € 2,741,235.52 € 2,879,044.05 €

265,003.93 € 243,854.28 € 152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 €

1,699,612.02 € 1,830,565.32 € 2,077,071.70 € 2,241,931.43 € 2,437,531.99 € 2,588,677.05 € 2,726,485.58 €

216,552.80 € 187,069.99 € 156,113.04 € 127,078.74 € 117,405.10 € 13,921.72 € 0.00 €

1,483,059.22 € 1,643,495.33 € 1,920,958.65 € 2,114,852.69 € 2,320,126.89 € 2,574,755.33 € 2,726,485.58 €

€ € € € € € €
1,483,059.22 € 1,643,495.33 € 1,920,958.65 € 2,114,852.69 € 2,320,126.89 € 2,574,755.33 € 2,726,485.58 €
393,010.69 € 435,526.26 € 509,054.04 € 560,435.96 € 614,833.63 € 682,310.16 € 722,518.68 €

40,591.46 € 54,790.41 € 69,250.83 € 84,761.03 € 98,990.59 € 96,625.25 € 108,354.15 €

1,130,639.98 € 1,262,759.48 € 1,481,155.44 € 1,639,177.76 € 1,804,283.86 € 1,989,070.41 € 2,112,321.05 €

€ € € € € € €
€ 53,445.98 € 375,956.69 € 491,753.33 € 541,285.16 € 596,721.12 € 633,696.31 €

1,130,639.98 € 1,209,313.50 € 1,105,198.75 € 1,147,424.43 € 1,262,998.70 € 1,392,349.29 € 1,478,624.73 €


2014 2015 2016 2017 2018 2019 2020
28,281.97 € 28,847.61 € 29,482.25 € 30,189.83 € 30,944.57 € 31,718.19 € 32,511.14 €
3,717,675.68 € 3,989,514.61 € 4,266,584.58 € 4,574,877.41 € 4,939,760.98 € 5,261,594.34 € 5,578,494.41 €
8,797.23 € 9,441.04 € 10,097.21 € 10,827.32 € 11,694.45 € 12,457.11 € 13,208.09 €
3,737,160.42 € 4,008,921.18 € 4,285,969.63 € 4,594,239.92 € 4,959,011.10 € 5,280,855.42 € 5,597,797.47 €

825,674.51 € 866,872.63 € 911,656.15 € 962,832.35 € 1,022,567.32 € 1,080,283.29 € 1,139,740.72 €


872,068.89 € 962,636.73 € 993,367.46 € 1,027,066.11 € 1,062,974.28 € 1,100,178.38 € 1,138,684.63 €

2,039,417.02 € 2,179,411.82 € 2,380,946.01 € 2,604,341.46 € 2,873,469.49 € 3,100,393.74 € 3,319,372.12 €

266,463.73 € 246,606.75 € 158,242.22 € 158,549.71 € 158,549.71 € 163,867.10 € 164,241.23 €

1,772,953.29 € 1,932,805.08 € 2,222,703.79 € 2,445,791.75 € 2,714,919.78 € 2,936,526.64 € 3,155,130.89 €

216,552.80 € 187,069.99 € 156,113.04 € 127,078.74 € 117,405.10 € 13,921.72 € 0.00 €

1,556,400.48 € 1,745,735.08 € 2,066,590.75 € 2,318,713.01 € 2,597,514.69 € 2,922,604.92 € 3,155,130.89 €

€ € € € € € €
1,556,400.48 € 1,745,735.08 € 2,066,590.75 € 2,318,713.01 € 2,597,514.69 € 2,922,604.92 € 3,155,130.89 €
412,446.13 € 462,619.80 € 547,646.55 € 614,458.95 € 688,341.39 € 774,490.30 € 836,109.69 €

Err:509 56,983.82 € 72,815.76 € 88,874.98 € 104,313.86 € 105,118.20 € 120,128.69 €

1,185,668.30 € 1,340,099.11 € 1,591,759.96 € 1,793,129.04 € 2,013,487.15 € 2,253,232.82 € 2,439,149.89 €

€ € € € € € €
€ 130,785.61 € 477,527.99 € 537,938.71 € 604,046.15 € 675,969.85 € 731,744.97 €

1,185,668.30 € 1,209,313.50 € 1,114,231.97 € 1,255,190.33 € 1,409,441.01 € 1,577,262.97 € 1,707,404.93 €


Índice

PLANO FINANCEIRO - A PREÇOS CONSTANTES DO ANO 0


2009 2010 2011 2012
RECURSOS FINANCEIROS
EBITDA 0.00 0.00 1,710,991.32 1,885,174.12
Desinvestimento em Fundo de Maneio 0.00 0.00 130,760.06 228,990.65
Capital Social 100,000.00 0.00 0.00 0.00
Prestações Suplementares 211,572.84 423,145.69 634,718.53 0.00
Empréstimo Bancário em Euros 1 3,806,937.06 0.00 0.00 0.00
Empréstimo Bancário em Euros 2 0.00 1,670,811.17 0.00 0.00
Contrato de Leasing 1 0.00 0.00 315,533.66 0.00
Contrato de Leasing 2 0.00 0.00 0.00 0.00
Recuperação de Aplicações Financeiras 0.00 120,536.48 48,637.60 619,309.60
Rendimentos de Aplicações Financeiras 0.00 2,772.34 1,118.66 14,244.12
TOTAL DOS RECURSOS FINANCEIROS 4,118,509.90 2,217,265.68 2,841,759.83 2,747,718.50

NECESSIDADES FINANCEIRAS
Investimento em Imobilizado 3,820,437.06 1,673,411.17 1,387,367.34 0.00
Juros Intercalares 63,448.95 273,887.41 0.00 0.00
Investimento em Fundo de Maneio 114,087.41 220,594.82 0.00 0.00
Reembolso Antecipado 0.00 0.00 0.00 0.00
Distribuição de Dividendos 0.00 0.00 0.00 0.00
Estado e Outros Entes Públicos - IRC 0.00 0.00 0.00 316,568.62
Reembolso do Empréstimo Bancário em Euros 0.00 0.00 435506.04 457281.35
Reembolso do Contrato de Leasing 0.00 0.00 69,409.83 57,103.64
Reembolso do Financiamento de Curto Prazo 0.00 0.00 0.00 0.00
Juros do Empréstimo Bancário em Euros 0.00 0.00 273,887.41 252,112.11
Juros do Contrato de Leasing 0.00 0.00 0.00 12,306.19
Imposto sobre Rendimentos de Aplicações Financeiras 0.00 734.67 296.45 3,774.69
TOTAL DAS NECESSIDADES FINANCEIRAS 3,997,973.42 2,168,628.08 2,166,467.07 1,099,146.60

SALDO DESEJADO 2% 0.00 0.00 55,983.16 67,480.38

SALDO A FINANCIAR 0.00 0.00 0.00 0.00


SALDO A APLICAR 120,536.48 48,637.60 619,309.60 1,637,074.68

Financiamento de Curto Prazo 0.00 0.00 0.00 0.00


Juros do Financiamento de Curto Prazo 0.00 0.00 0.00 0.00

DISPONIBILIDADES FINAIS 0.00 0.00 55,983.16 11,497.22

SALDO ACUMULADO 0.00 0.00 55,983.16 67,480.38


PLANO FINANCEIRO - A PREÇOS CORRENTES
2009 2010 2011 2012
RECURSOS FINANCEIROS
EBITDA Err:509 Err:509 1,724,937.42 1,911,890.04
Desinvestimento em Fundo de Maneio Err:509 0.00 130,178.17 231,727.60
Capital Social 100,000.00 0.00 0.00 0.00
Prestações Suplementares 211,572.84 423,145.69 634,718.53 0.00
Empréstimo Bancário em Euros 1 3,806,937.06 0.00 0.00 0.00
Empréstimo Bancário em Euros 2 0.00 1,670,811.17 0.00 0.00
Contrato de Leasing 1 0 0.00 315,533.66 € 0.00
Contrato de Leasing 2 0.00 0.00 0.00 0.00
Recuperação de Aplicações Financeiras 0.00 Err:509 Err:509 620,299.65
Rendimentos de Aplicações Financeiras 0.00 Err:509 Err:509 Err:509
TOTAL DOS RECURSOS FINANCEIROS Err:509 2,217,265.68 2,855,101.70 2,778,184.18

NECESSIDADES FINANCEIRAS
Investimento em Imobilizado 3,820,437.06 1,673,429.37 1,398,763.65 0.00
Juros Intercalares 63,448.95 273,887.41 0.00 0.00
Investimento em Fundo de Maneio Err:509 220,598.46 0.00 0.00
Reembolso Antecipado 0.00 0.00 0.00 0.00
Distribuição de Dividendos 0.00 Err:509 Err:509 Err:509
Estado e Outros Entes Públicos - IRC 0.00 Err:509 Err:509 Err:509
Reembolso do Empréstimo Bancário em Euros 0.00 0.00 435,506.04 457,281.35
Reembolso do Contrato de Leasing 0.00 0.00 69,409.83 57,103.64
Reembolso do Financiamento de Curto Prazo 0.00 Err:509 0.00 0.00
Juros do Empréstimo Bancário em Euros 0.00 0.00 273,887.41 252,112.11
Juros do Contrato de Leasing 0.00 0.00 0.00 12,306.19
Imposto sobre Rendimentos de Aplicações Financeiras 0.00 Err:509 Err:509 Err:509
TOTAL DAS NECESSIDADES FINANCEIRAS Err:509 Err:509 Err:509 Err:509

SALDO DESEJADO 2% 0.00 0.00 56,938.79 69,593.12

SALDO A FINANCIAR Err:509 Err:509 Err:509 Err:509


SALDO A APLICAR Err:509 Err:509 Err:509 Err:509

Financiamento de Curto Prazo Err:509 Err:509 Err:509 Err:509


Juros do Financiamento de Curto Prazo Err:509 0.00 Err:509 0.00

DISPONIBILIDADES FINAIS Err:509 0.00 56,938.79 Err:509

SALDO ACUMULADO Err:509 Err:509 Err:509 Err:509



2013 2014 2015 2016 2017 2018 2019 2020

1,909,916.49 1,964,615.95 2,074,419.60 2,229,630.17 2,394,489.90 2,590,090.46 2,741,235.52 2,879,044.05


0.00 987.02 0.00 0.00 674.54 0.00 0.00 28,935.98
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
124585.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1,637,074.68 2,401,150.97 3,241,077.28 4,096,470.50 5,013,962.24 5,855,698.85 5,715,779.20 6,409,591.56
37,652.72 55,226.47 74,544.78 94,218.82 115,321.13 134,681.07 131,462.92 147,420.61
3,709,228.89 4,421,980.41 5,390,041.66 6,420,319.49 7,524,447.82 8,580,470.39 8,588,477.65 9,464,992.20

127,185.01 12,782.06 69,735.48 149,036.31 12,782.06 0.00 660,320.44 12,782.06


0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1,863.91 0.00 1,251.11 3,195.15 0.00 1,695.51 31,952.09 0.00
0.00 0.00 0.00 0.00 0.00 1,061,431.51 0.00 0.00
0.00 0.00 0.00 53,445.98 375,956.69 491,753.33 541,285.16 596,721.12
361,053.89 347,298.45 393,010.69 435,526.26 509,054.04 560,435.96 614,833.63 682,310.16
480145.41 504152.69 529360.32 555828.34 583619.75 612800.74 278434.47 0.00
87,364.53 85,503.51 89,778.69 24,857.79 26,100.68 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
229,248.04 205,240.77 180,033.14 153,565.12 125,773.70 96,592.72 13,921.72 0.00
9,451.01 11,312.03 7,036.86 2,547.92 1,305.03 0.00 0.00 0.00
9,977.97 14,635.02 19,754.37 24,967.99 30,560.10 35,690.48 34,837.67 39,066.46
1,306,289.78 1,180,924.52 1,289,960.64 1,402,970.86 1,665,152.06 2,860,400.25 2,175,585.18 1,330,879.81

69,268.52 69,247.13 72,857.65 76,244.03 79,840.94 84,131.87 87,432.78 90,442.56

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00


2,401,150.97 3,241,077.28 4,096,470.50 5,013,962.24 5,855,698.85 5,715,779.20 6,409,591.56 8,131,102.61

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00


0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,788.15 -21.39 3,610.52 3,386.38 3,596.91 4,290.93 3,300.91 3,009.78

69,268.52 69,247.13 72,857.65 76,244.03 79,840.94 84,131.87 87,432.78 90,442.56



2013 2014 2015 2016 2017 2018 2019 2020

1,955,948.02 2,039,417.02 2,179,411.82 2,380,946.01 2,604,341.46 2,873,469.49 3,100,393.74 3,319,372.12


0.00 2,123.80 301.16 0.00 2,775.56 321.64 0.00 23,571.16
0.00 0.00 0.00 0.00 0.00 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0 0 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
124,585.01 € 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1,663,433.25 2,467,551.01 3,370,826.60 4,307,350.27 5,257,319.13 6,170,592.13 6,218,172.36 7,106,104.16
Err:509 Err:509 77,529.01 99,069.06 120,918.34 141,923.62 143,017.96 163,440.40
3,782,225.25 4,565,845.50 5,628,068.59 6,787,365.34 7,985,354.49 9,186,306.88 9,461,584.07 10,612,487.84

127,314.68 13,674.50 76,096.51 166,208.76 14,596.97 0.00 704,085.78 15,719.34


0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
498.47 0.00 0.00 1,853.92 0.00 0.00 22,328.21 0.00
0.00 0.00 0.00 0.00 0.00 1,061,431.51 0.00 0.00
0.00 0.00 0.00 130,785.61 477,527.99 537,938.71 604,046.15 675,969.85
367,383.47 358,736.82 412,446.13 462,619.80 547,646.55 614,458.95 688,341.39 774,490.30
480,145.41 504,152.69 529,360.32 555,828.34 583,619.75 612,800.74 278,434.47 0.00
87,364.53 85,503.51 89,778.69 24,857.79 26,100.68 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
229,248.04 205,240.77 180,033.14 153,565.12 125,773.70 96,592.72 13,921.72 0.00
9,451.01 11,312.03 7,036.86 2,547.92 1,305.03 0.00 0.00 0.00
Err:509 Err:509 20,545.19 26,253.30 32,043.36 37,609.76 37,899.76 43,311.70
1,311,544.24 1,193,660.05 1,315,296.82 1,524,520.55 1,808,614.03 2,960,832.39 2,349,057.48 1,509,491.19

72,723.12 74,081.97 79,503.47 85,029.12 91,177.45 98,479.58 104,902.01 111,225.98

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00


Err:509 3,370,826.60 4,307,350.27 5,257,319.13 6,170,592.13 6,218,172.36 7,106,104.16 9,096,672.68

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00


0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

3,130.00 1,358.85 5,421.50 5,525.65 6,148.33 7,302.14 6,422.43 6,323.97

72,723.12 74,081.97 79,503.47 85,029.12 91,177.45 98,479.58 104,902.01 111,225.98


BALANÇO - A PREÇOS CONSTANTES DO ANO 0
2009 2010 2011
APLICAÇÕES
Imobilizado Incorpóreo
Despesas de Instalação 66,948.95 € 340,836.36 € 340,836.36 €
Despesas de Investigação e Desenvolvimento 10,000.00 € 10,000.00 € 296,960.00 €
Propriedade Industrial € 2,600.00 € 7,600.00 €
Sub-Total 76,948.95 € 353,436.36 € 645,396.36 €
Imobilizado Corpóreo
Terrenos e Recursos Naturais 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €
Edifícios e Outras Construções 556,937.06 € 2,227,748.23 € 2,506,216.76 €
Equipamento Básico € € 787,810.16 €
Equipamentos Administrativos € € 29,128.65 €
Sub-Total 3,806,937.06 € 5,477,748.23 € 6,573,155.57 €

Amortizações Acumuladas € 5,366.67 € 242,505.35 €


Sub-Total 3,883,886.01 € 5,825,817.93 € 6,976,046.59 €

Existências € € 554.00 €
Estado e Outros Entes Públicos 114,087.41 € 334,682.23 € 196,670.50 €
Aplicações Financeiras 120,536.48 € 48,637.60 € 619,309.60 €
Disponibilidades € € 111,966.32 €
Sub-Total 234,623.89 € 383,319.83 € 928,500.42 €

TOTAL DAS APLICAÇÕES 4,118,509.90 € 6,209,137.76 € 7,904,547.00 €


ORIGENS
CAPITAL PRÓPRIO
Capital Social 100,000.00 € 100,000.00 € 100,000.00 €
Prestações Suplementares 211,572.84 € 634,718.53 € 1,269,437.06 €
Reservas e Resultados Transitados € € 3,329.00 €
Resultados Retidos € 3,329.00 € 884,218.83 €

TOTAL DO CAPITAL PRÓPRIO 311,572.84 € 731,389.53 € 2,250,326.89 €


PASSIVO
Débitos de Médio e Longo Prazo
Financiamento Bancário em Euros 1 3,806,937.06 € 3,504,268.15 € 3,186,465.79 €
Financiamento Bancário em Euros 2 € 1,537,974.04 € 1,398,495.05 €
Contrato de Leasing 1 € € 189,020.19 €
Contrato de Leasing 2 € € €
Sub-Total 3,806,937.06 € 5,042,242.19 € 4,773,981.03 €
Débitos de Curto Prazo
Fornecedores € € 49,285.48 €
Estado e Outros Entes Públicos € € €
IRC € € 316,568.62 €
Financiamento Bancário
Financiamento Bancário em Euros 1 € 302,668.91 € 317,802.36 €
Financiamento Bancário em Euros 2 € 132,837.13 € 139,478.99 €
Contrato de Leasing 1 € € 57,103.64 €
Contrato de Leasing 2 € € €
Resultados a Distribuir € € €
Sub-Total € 435,506.04 € 880,239.09 €

PASSIVO TOTAL 3,806,937.06 € 5,477,748.23 € 5,654,220.12 €

TOTAL DAS ORIGENS 4,118,509.90 € 6,209,137.76 € 7,904,547.00 €

CONTROLO DE ERROS 0.00 0.00 0.00

BALANÇO - A PREÇOS CORRENTES


2009 2010 2011
APLICAÇÕES
Imobilizado Incorpóreo
Despesas de Instalação 66,948.95 € 340,836.36 € 340,836.36 €
Despesas de Investigação e Desenvolvimento 10,000.00 € 10,000.00 € 301,858.41 €
Propriedade Industrial € 2,618.20 € 7,703.55 €
Sub-Total 76,948.95 € 353,454.56 € 650,398.32 €
Imobilizado Corpóreo
Terrenos e Recursos Naturais 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €
Edifícios e Outras Construções 556,937.06 € 2,227,748.23 € 2,506,216.76 €
Equipamento Básico € € 793,725.49 €
Equipamentos Administrativos € € 29,625.88 €
Sub-Total 3,806,937.06 € 5,477,748.23 € 6,579,568.12 €

Amortizações Acumuladas € 5,372.73 € 245,342.12 €


Sub-Total 3,883,886.01 € 5,825,830.06 € 6,984,624.33 €

Existências € € 563.46 €
Estado e Outros Entes Públicos Err:509 334,685.87 € 197,398.38 €
Aplicações Financeiras Err:509 Err:509 Err:509
Disponibilidades Err:509 Err:509 Err:509
Sub-Total Err:509 383,301.63 € 932,139.08 €

TOTAL DAS APLICAÇÕES Err:509 6,209,131.69 € 7,916,763.40 €


ORIGENS
CAPITAL PRÓPRIO
Capital Social 100,000.00 € 100,000.00 € 100,000.00 €
Prestações Suplementares 211,572.84 € 634,718.53 € 1,269,437.06 €
Reservas e Resultados Transitados € Err:509 3,335.06 €
Resultados Retidos Err:509 Err:509 Err:509

TOTAL DO CAPITAL PRÓPRIO Err:509 731,383.46 € 2,258,491.87 €


PASSIVO
Débitos de Médio e Longo Prazo
Financiamento Bancário em Euros 1 3,806,937.06 € 3,504,268.15 € 3,186,465.79 €
Financiamento Bancário em Euros 2 € 1,537,974.04 € 1,398,495.05 €
Contrato de Leasing 1 € € 189,020.19 €
Contrato de Leasing 2 € € €
Sub-Total 3,806,937.06 € 5,042,242.19 € 4,773,981.03 €
Débitos de Curto Prazo
Fornecedores € € 50,392.92 €
Estado e Outros Entes Públicos Err:509 € €
IRC Err:509 Err:509 Err:509
Financiamento Bancário
Financiamento Bancário em Euros 1 € 302,668.91 € 317,802.36 €
Financiamento Bancário em Euros 2 € 132,837.13 € 139,478.99 €
Contrato de Leasing 1 57,103.64 €
Contrato de Leasing 2 € € €
Resultados a Distribuir Err:509 Err:509 Err:509
Sub-Total Err:509 435,506.04 € 884,290.50 €

PASSIVO TOTAL Err:509 5,477,748.23 € 5,658,271.53 €

TOTAL DAS ORIGENS Err:509 6,209,131.69 € 7,916,763.40 €

CONTROLO DE ERROS Err:509 0.00 0.00


Índice

2012 2013 2014 2015 2016

340,836.36 € 340,836.36 € 340,836.36 € 340,836.36 € 340,836.36 €


296,960.00 € 296,960.00 € 296,960.00 € 296,960.00 € 296,960.00 €
7,600.00 € 7,600.00 € 7,600.00 € 7,600.00 € 7,600.00 €
645,396.36 € 645,396.36 € 645,396.36 € 645,396.36 € 645,396.36 €

3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 €
787,810.16 € 912,395.17 € 912,395.17 € 912,395.17 € 912,395.17 €
29,128.65 € 29,128.65 € 29,128.65 € 29,128.65 € 29,128.65 €
6,573,155.57 € 6,697,740.58 € 6,697,740.58 € 6,697,740.58 € 6,697,740.58 €

500,793.68 € 858,850.94 € 1,111,072.80 € 1,285,191.60 € 1,288,713.76 €


6,717,758.26 € 6,484,286.01 € 6,232,064.14 € 6,057,945.34 € 6,054,423.18 €

667.77 € 685.47 € 685.26 € 720.99 € 754.50 €


€ € € € €
1,637,074.68 € 2,401,150.97 € 3,241,077.28 € 4,096,470.50 € 5,013,962.24 €
134,960.76 € 138,537.05 € 138,494.26 € 145,715.30 € 152,488.06 €
1,772,703.21 € 2,540,373.49 € 3,380,256.80 € 4,242,906.79 € 5,167,204.81 €

8,490,461.47 € 9,024,659.49 € 9,612,320.94 € 10,300,852.13 € 11,221,627.99 €

100,000.00 € 100,000.00 € 100,000.00 € 100,000.00 € 100,000.00 €


1,269,437.06 € 1,269,437.06 € 1,269,437.06 € 1,269,437.06 € 1,269,437.06 €
880,889.83 € 1,892,772.87 € 2,883,709.34 € 4,014,349.33 € 5,223,662.83 €
1,011,883.04 € 990,936.48 € 1,130,639.98 € 1,209,313.50 € 1,105,198.75 €

3,262,209.93 € 4,253,146.40 € 5,383,786.39 € 6,593,099.89 € 7,698,298.64 €

2,852,773.31 € 2,502,396.21 € 2,134,500.26 € 1,748,209.50 € 1,342,604.21 €


1,252,042.11 € 1,098,266.53 € 936,802.16 € 767,264.58 € 589,250.12 €
129,061.37 € 66,104.60 € € 0.00 € 0.00 €
€ 74,632.55 € 50,958.47 € 26,100.68 € €
4,233,876.79 € 3,741,399.89 € 3,122,260.89 € 2,541,574.76 € 1,931,854.33 €
71,563.98 € 72,381.95 € 72,372.10 € 73,736.74 € 75,013.08 €
21,652.65 € 20,776.61 € 21,751.87 € 22,782.37 € 21,730.77 €
361,053.89 € 347,298.45 € 393,010.69 € 435,526.26 € 509,054.04 €

333,692.48 € 350,377.10 € 367,895.96 € 386,290.75 € 405,605.29 €


146,452.94 € 153,775.58 € 161,464.36 € 169,537.58 € 178,014.46 €
59,958.82 € 62,956.76 € 66,104.60 € 0.00 € 0.00 €
€ 22,546.75 € 23,674.08 € 24,857.79 € 26,100.68 €
€ € € 53,445.98 € 375,956.69 €
994,374.75 € 1,030,113.20 € 1,106,273.67 € 1,166,177.48 € 1,591,475.02 €

5,228,251.54 € 4,771,513.09 € 4,228,534.56 € 3,707,752.24 € 3,523,329.35 €

8,490,461.47 € 9,024,659.49 € 9,612,320.94 € 10,300,852.13 € 11,221,627.99 €

0.00 0.00 0.00 0.00 0.00

2012 2013 2014 2015 2016

340,836.36 € 340,836.36 € 340,836.36 € 340,836.36 € 340,836.36 €


301,858.41 € 301,858.41 € 301,858.41 € 301,858.41 € 301,858.41 €
7,703.55 € 7,815.02 € 7,815.02 € 7,815.02 € 7,984.93 €
650,398.32 € 650,509.79 € 650,509.79 € 650,509.79 € 650,679.70 €

3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 €
793,725.49 € 918,310.50 € 918,310.50 € 923,481.14 € 937,854.34 €
29,625.88 € 29,625.88 € 30,300.13 € 30,300.13 € 30,300.13 €
6,579,568.12 € 6,704,153.13 € 6,704,827.39 € 6,709,998.03 € 6,724,371.24 €

506,461.15 € 867,368.07 € 1,120,831.55 € 1,296,512.43 € 1,303,089.01 €


6,723,505.29 € 6,487,294.85 € 6,234,505.62 € 6,063,995.39 € 6,071,961.93 €

688.68 € 719.66 € 733.10 € 786.75 € 841.43 €


€ € € € €
Err:509 Err:509 3,370,826.60 € 4,307,350.27 € 5,257,319.13 €
Err:509 145,446.24 € 148,163.95 € 159,006.94 € 170,058.24 €
1,803,308.18 € 2,613,716.91 € 3,519,723.65 € 4,467,143.96 € 5,428,218.81 €

8,526,813.47 € 9,101,011.76 € 9,754,229.27 € 10,531,139.35 € 11,500,180.74 €

100,000.00 € 100,000.00 € 100,000.00 € 100,000.00 € 100,000.00 €


1,269,437.06 € 1,269,437.06 € 1,269,437.06 € 1,269,437.06 € 1,269,437.06 €
889,054.82 € 1,918,510.22 € 2,941,617.59 € 4,127,285.90 € 5,336,599.40 €
1,029,455.41 € 1,023,107.37 € 1,185,668.30 € 1,209,313.50 € 1,114,231.97 €

3,287,947.28 € 4,311,054.65 € 5,496,722.96 € 6,706,036.46 € 7,820,268.43 €

2,852,773.31 € 2,502,396.21 € 2,134,500.26 € 1,748,209.50 € 1,342,604.21 €


1,252,042.11 € 1,098,266.53 € 936,802.16 € 767,264.58 € 589,250.12 €
129,061.37 € 66,104.60 € € 0.00 € 0.00 €
€ 74,632.55 € 50,958.47 € 26,100.68 € €
4,233,876.79 € 3,741,399.89 € 3,122,260.89 € 2,541,574.76 € 1,931,854.33 €

74,600.86 € 77,317.22 € 79,314.91 € 83,111.89 € 87,235.01 €


22,900.83 € 22,846.98 € 24,345.39 € 26,324.71 € 25,928.00 €
367,383.47 € 358,736.82 € 412,446.13 € 462,619.80 € 547,646.55 €

333,692.48 € 350,377.10 € 367,895.96 € 386,290.75 € 405,605.29 €


146,452.94 € 153,775.58 € 161,464.36 € 169,537.58 € 178,014.46 €
59,958.82 € 62,956.76 € 66,104.60 € 0.00 € 0.00 €
€ 22,546.75 € 23,674.08 € 24,857.79 € 26,100.68 €
€ € € 130,785.61 € 477,527.99 €
1,004,989.40 € 1,048,557.22 € 1,135,245.43 € 1,283,528.13 € 1,748,057.98 €

5,238,866.19 € 4,789,957.11 € 4,257,506.32 € 3,825,102.89 € 3,679,912.31 €

8,526,813.47 € 9,101,011.76 € 9,754,229.27 € 10,531,139.35 € 11,500,180.74 €

0.00 0.00 0.00 0.00 0.00



2017 2018 2019 2020

340,836.36 € 340,836.36 € 340,836.36 € 340,836.36 €


296,960.00 € 296,960.00 € 296,960.00 € 296,960.00 €
7,600.00 € 7,600.00 € 7,600.00 € 7,600.00 €
645,396.36 € 645,396.36 € 645,396.36 € 645,396.36 €

3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 €
912,395.17 € 912,395.17 € 912,395.17 € 912,395.17 €
29,128.65 € 29,128.65 € 29,128.65 € 29,128.65 €
6,697,740.58 € 6,697,740.58 € 6,697,740.58 € 6,697,740.58 €

1,428,490.18 € 1,581,048.65 € 1,073,286.68 € 1,213,063.09 €


5,914,646.77 € 5,762,088.29 € 6,269,850.26 € 6,130,073.85 €

790.09 € 832.55 € 865.22 € 895.00 €


€ € 4,160.54 € €
5,855,698.85 € 5,715,779.20 € 6,409,591.56 € 8,131,102.61 €
159,681.88 € 168,263.75 € 174,865.56 € 180,885.13 €
6,016,170.82 € 5,884,875.50 € 6,589,482.89 € 8,312,882.74 €

11,930,817.59 € 11,646,963.80 € 12,859,333.15 € 14,442,956.59 €

100,000.00 € 100,000.00 € 100,000.00 € 100,000.00 €


1,269,437.06 € 1,269,437.06 € 1,269,437.06 € 1,269,437.06 €
6,328,861.58 € 7,476,286.01 € 8,739,284.71 € 10,131,634.00 €
1,147,424.43 € 1,262,998.70 € 1,392,349.29 € 1,478,624.73 €

8,845,723.07 € 10,108,721.77 € 11,501,071.06 € 12,979,695.79 €

916,718.66 € € € €
402,334.93 € € € €
0.00 € 0.00 € 0.00 € 0.00 €
0.00 € 0.00 € 0.00 € 0.00 €
1,319,053.59 € 0.00 € 0.00 € 0.00 €
76,369.21 € 77,987.45 € 79,230.81 € 80,365.11 €
24,681.68 € 25,701.33 € € 26,680.70 €
560,435.96 € 614,833.63 € 682,310.16 € 722,518.68 €

425,885.56 € 270,545.54 € € €
186,915.18 € 7,888.92 € € €
0.00 € 0.00 € 0.00 € €
0.00 € 0.00 € 0.00 € €
491,753.33 € 541,285.16 € 596,721.12 € 633,696.31 €
1,766,040.93 € 1,538,242.03 € 1,358,262.09 € 1,463,260.80 €

3,085,094.52 € 1,538,242.03 € 1,358,262.09 € 1,463,260.80 €

11,930,817.59 € 11,646,963.80 € 12,859,333.15 € 14,442,956.59 €

0.00 0.00 0.00 0.00


2017 2018 2019 2020

340,836.36 € 340,836.36 € 340,836.36 € 340,836.36 €


301,858.41 € 301,858.41 € 301,858.41 € 301,858.41 €
7,984.93 € 7,984.93 € 8,204.83 € 8,204.83 €
650,679.70 € 650,679.70 € 650,899.60 € 650,899.60 €

3,250,000.00 € 3,250,000.00 € 3,250,000.00 € 3,250,000.00 €


2,506,216.76 € 2,506,216.76 € 2,506,216.76 € 2,506,216.76 €
937,854.34 € 937,854.34 € 969,247.82 € 969,247.82 €
31,222.59 € 31,222.59 € 34,209.64 € 35,332.01 €
6,725,293.70 € 6,725,293.70 € 6,759,674.21 € 6,760,796.58 €

1,447,964.21 € 1,606,513.92 € 1,100,895.66 € 1,250,539.92 €


5,928,009.19 € 5,769,459.48 € 6,309,678.16 € 6,161,156.27 €

902.28 € 974.54 € 1,038.09 € 1,100.67 €


€ € € €
6,170,592.13 € 6,218,172.36 € 7,106,104.16 € 9,096,672.68 €
182,354.89 € 196,959.17 € 209,804.02 € 222,451.96 €
6,353,849.30 € 6,416,106.07 € 7,316,946.28 € 9,320,225.31 €

12,281,858.49 € 12,185,565.55 € 13,626,624.43 € 15,481,381.58 €

100,000.00 € 100,000.00 € 100,000.00 € 100,000.00 €


1,269,437.06 € 1,269,437.06 € 1,269,437.06 € 1,269,437.06 €
6,450,831.37 € 7,706,021.70 € 9,115,462.71 € 10,692,725.68 €
1,255,190.33 € 1,409,441.01 € 1,577,262.97 € 1,707,404.93 €

9,075,458.76 € 10,484,899.76 € 12,062,162.74 € 13,769,567.66 €

916,718.66 € € € €
402,334.93 € € € €
0.00 € 0.00 € 0.00 € 0.00 €
0.00 € 0.00 € 0.00 € 0.00 €
1,319,053.59 € 0.00 € 0.00 € 0.00 €

91,941.35 € 97,421.14 € 102,715.93 € 108,166.93 €


30,206.38 € 32,422.65 € 11,285.63 € 35,792.34 €
614,458.95 € 688,341.39 € 774,490.30 € 836,109.69 €

425,885.56 € 270,545.54 € € €
186,915.18 € 7,888.92 € € €
0.00 € 0.00 € 0.00 € €
0.00 € 0.00 € 0.00 € €
537,938.71 € 604,046.15 € 675,969.85 € 731,744.97 €
1,887,346.14 € 1,700,665.79 € 1,564,461.70 € 1,711,813.92 €

3,206,399.73 € 1,700,665.79 € 1,564,461.70 € 1,711,813.92 €

12,281,858.49 € 12,185,565.55 € 13,626,624.43 € 15,481,381.58 €

0.00 0.00 0.00 0.00


ANÁLISE DA SITUAÇÃO ECONÓMICA E FINANCEIRA PREVISIONAL - A PREÇOS CONSTANTES DO ANO 0
INDICADORES DE SITUACAO FINANCEIRA 2009 2010
Autonomia Financeira 7.57% 11.78%
Solvabilidade Total 8.18% 13.35%
Endividamento 92.43% 88.22%
Estrutura do Endividamento 0.00% 7.95%
Liquidez Geral #DIV/0! 88.02%
Liquidez Reduzida = Liquidez Imediata #DIV/0! 88.02%

ANALISE DO EQUILIBRIO FINANCEIRO 2009 2010


Capitais Permanentes 4,118,509.90 € 5,773,631.72 €
Activo Fixo 3,806,937.06 € 5,477,748.23 €
FUNDO DE MANEIO LIQUIDO 311,572.85 € 295,883.49 €

Necessidades Ciclicas 114,087.41 € 334,682.23 €


Recursos Ciclicos € €
NECESSIDADES EM FUNDO DE MANEIO 114,087.41 € 334,682.23 €

Tesouraria Activa 120,536.48 € 48,637.60 €


Tesouraria Passiva € 435,506.04 €
TESOURARIA LIQUIDA 120,536.48 € 386,868.45 €

TRL = FML - NFM 197,485.43 € 38,798.75 €

Variação do Fundo de Maneio Líquido 311,572.85 € 15,689.36 €


Variação das Necessidades em Fundo de Maneio 114,087.41 € 220,594.82 €
Variação da Tesouraria Líquida 120,536.48 € 507,404.93 €

AVALIACAO DA PERFORMANCE ECONOMICA E FINANCEIRA 2009 2010


RENDIBILIDADE DO ACTIVO ECONÓMICO 0.00% -0.05%

Efeito dos Encargos Financeiros 0.00% 100.00%


Estrutura Financeira 1258.46% 794.71%
EFEITO FINANCEIRO DE ALAVANCA 0.00% 794.71%

Efeito dos Resultados Eventuais #DIV/0! 62.03%


Efeito Fiscal #DIV/0! 100.00%
RENDIBILIDADE DOS CAPITAIS PRÓPRIOS #DIV/0! -0.26%
Efeito da Distribuição #DIV/0! 100.00%
TAXA DE CRESCIMENTO INDUZIDA 0.00% -0.46%
TAXA DE CRESCIMENTO SUSTENTAVEL 0.00% 0.00%
ROE 0.00% -0.46%

ANÁLISE DA SITUAÇÃO ECONÓMICA E FINANCEIRA PREVISIONAL - A PREÇOS CORRENTES


INDICADORES DE SITUACAO FINANCEIRA 2009 2010
Autonomia Financeira Err:509 11.78%
Solvabilidade Total Err:509 13.35%
Endividamento Err:509 88.22%
Estrutura do Endividamento Err:509 7.95%
Liquidez Geral Err:509 88.01%
Liquidez Reduzida = Liquidez Imediata Err:509 88.01%

ANALISE DO EQUILIBRIO FINANCEIRO 2009 2010


Capitais Permanentes 4,118,509.90 € 5,773,631.72 €
Activo Fixo 3,883,886.01 € 5,825,817.93 €
FUNDO DE MANEIO LIQUIDO 234,623.89 € 52,186.21 €

Necessidades Ciclicas Err:509 334,685.87 €


Recursos Ciclicos Err:509 €
NECESSIDADES EM FUNDO DE MANEIO Err:509 334,685.87 €

Tesouraria Activa Err:509 383,301.63 €


Tesouraria Passiva Err:509 Err:509
TESOURARIA LIQUIDA Err:509 Err:509

TRL = FML - NFM Err:509 386,872.09 €

Variação do Fundo de Maneio Líquido 234,623.89 € 286,810.10 €


Variação das Necessidades em Fundo de Maneio Err:509 Err:509
Variação da Tesouraria Líquida Err:509 Err:509

AVALIACAO DA PERFORMANCE ECONOMICA E FINANCEIRA 2009 2010


RENDIBILIDADE DO ACTIVO ECONÓMICO Err:509 Err:509

Efeito dos Encargos Financeiros 0.00% Err:509


Estrutura Financeira Err:509 842.31%
EFEITO FINANCEIRO DE ALAVANCA Err:509 Err:509

Efeito dos Resultados Eventuais Err:509 Err:509


Efeito Fiscal Err:509 Err:509
RENDIBILIDADE DOS CAPITAIS PRÓPRIOS Err:509 Err:509

Efeito da Distribuição Err:509 Err:509


TAXA DE CRESCIMENTO INDUZIDA Err:509 Err:509
TAXA DE CRESCIMENTO SUSTENTAVEL Err:509 Err:509
ROE Err:509 Err:509
Índice

2011 2012 2013 2014 2015


28.47% 38.42% 47.13% 56.01% 64.01%
39.80% 62.40% 89.14% 127.32% 177.82%
71.53% 61.58% 52.87% 43.99% 35.99%
15.57% 19.02% 21.59% 26.16% 31.45%
105.48% 178.27% 246.61% 305.55% 363.83%
105.42% 178.21% 246.54% 305.49% 363.77%

2011 2012 2013 2014 2015


7,024,307.92 € 7,496,086.72 € 7,994,546.29 € 8,506,047.27 € 9,134,674.65 €
6,573,155.57 € 6,573,155.57 € 6,697,740.58 € 6,697,740.58 € 6,697,740.58 €
451,152.35 € 922,931.15 € 1,296,805.71 € 1,808,306.69 € 2,436,934.07 €

266,221.40 € 68,148.15 € 69,953.99 € 69,932.39 € 73,578.64 €


62,299.23 € 93,216.63 € 93,158.56 € 94,123.97 € 96,519.11 €
203,922.18 € 25,068.47 € 23,204.56 € 24,191.58 € 22,940.48 €

731,275.92 € 1,772,035.44 € 2,539,688.02 € 3,379,571.54 € 4,242,185.80 €


830,953.61 € 901,158.12 € 936,954.64 € 1,012,149.70 € 1,069,658.37 €
99,677.69 € 870,877.31 € 1,602,733.38 € 2,367,421.85 € 3,172,527.43 €

247,230.17 € 947,999.62 € 1,320,010.28 € 1,832,498.27 € 2,459,874.54 €

155,268.86 € 471,778.80 € 373,874.57 € 511,500.98 € 628,627.38 €


130,760.06 € 228,990.65 € 1,863.91 € 987.02 € 1,251.11 €
287,190.76 € 970,555.00 € 731,856.06 € 764,688.47 € 805,105.59 €

2011 2012 2013 2014 2015


11.19% 11.92% 10.98% 11.76% 12.26%

81.42% 83.75% 84.59% 87.26% 89.78%


301.16% 200.73% 156.93% 123.96% 101.24%
245.19% 168.10% 132.75% 108.16% 90.89%

100.07% 100.77% 102.11% 102.74% 103.33%


73.64% 73.70% 74.05% 74.21% 74.35%
20.21% 14.88% 11.02% 9.70% 8.56%
100.00% 100.00% 100.00% 100.00% 95.77%
39.29% 31.02% 23.30% 21.00% 18.34%
64.73% 44.97% 30.38% 26.58% 22.46%
39.29% 31.02% 23.30% 21.00% 19.15%

2011 2012 2013 2014 2015


28.53% 38.56% 47.37% 56.35% 63.68%
39.91% 62.76% 90.00% 129.11% 175.32%
71.47% 61.44% 52.63% 43.65% 36.32%
15.63% 19.18% 21.89% 26.66% 33.56%
105.41% 179.44% 249.27% 310.04% 348.04%
105.35% 179.37% 249.20% 309.98% 347.98%

2011 2012 2013 2014 2015


7,024,307.92 € 7,496,086.72 € 7,994,546.29 € 8,506,047.27 € 9,134,674.65 €
6,976,046.59 € 6,717,758.26 € 6,484,286.01 € 6,232,064.14 € 6,057,945.34 €
48,261.33 € 778,328.46 € 1,510,260.29 € 2,273,983.13 € 3,076,729.31 €

268,460.67 € 70,281.80 € 73,442.78 € 74,815.08 € 80,290.23 €


63,952.97 € 97,501.70 € 100,164.20 € 103,660.30 € 109,436.60 €
204,507.71 € 27,219.89 € 26,721.42 € 28,845.22 € 29,146.38 €

931,575.62 € 1,802,619.49 € 2,612,997.25 € 3,518,990.54 € 4,466,357.21 €


Err:509 907,487.70 € 948,393.02 € 1,031,585.13 € 1,174,091.53 €
97,678.04 € 895,131.79 € 1,664,604.23 € 2,487,405.41 € 3,292,265.68 €

156,246.38 € 805,548.35 € 1,536,981.71 € 2,302,828.35 € 3,105,875.68 €

100,447.54 € 730,067.13 € 731,931.83 € 763,722.84 € 802,746.17 €


130,178.17 € 231,727.60 € 498.47 € 2,123.80 € 301.16 €
149,882.45 € 797,453.75 € 769,472.44 € 822,801.18 € 804,860.27 €

2011 2012 2013 2014 2015


Err:509 12.07% 11.24% 12.16% 12.73%

81.56% 83.98% 85.01% 87.79% 90.32%


317.94% 203.49% 149.79% 112.85% 89.90%
259.30% 170.89% 127.34% 99.07% 81.20%

Err:509 Err:509 Err:509 Err:509 103.26%


Err:509 Err:509 Err:509 Err:509 74.34%
21.54% 15.32% 10.82% 9.17% 7.93%

Err:509 100.00% 100.00% 100.00% 90.24%


Err:509 31.31% 23.73% 21.57% 18.03%
Err:509 45.58% 31.12% 27.50% 22.00%
Err:509 31.31% 23.73% 21.57% 19.98%
2016 2017 2018 2019
68.60% 74.14% 86.79% 89.44%
218.50% 286.72% 657.16% 846.75%
31.40% 25.86% 13.21% 10.56%
45.17% 57.24% 100.00% 100.00%
324.68% 340.66% 382.57% 485.14%
324.63% 340.61% 382.52% 485.08%

2016 2017 2018 2019


9,630,152.97 € 10,164,776.66 € 10,108,721.77 € 11,501,071.06 €
6,697,740.58 € 6,697,740.58 € 6,697,740.58 € 6,697,740.58 €
2,932,412.39 € 3,467,036.08 € 3,410,981.19 € 4,803,330.48 €

76,998.53 € 80,631.03 € 84,964.43 € 109,953.23 €


96,743.85 € 101,050.89 € 103,688.78 € 96,725.49 €
19,745.32 € 20,419.86 € 18,724.35 € 13,227.74 €

5,166,450.31 € 6,015,380.73 € 5,884,042.95 € 6,584,457.12 €


1,494,731.16 € 1,664,990.03 € 1,434,553.25 € 1,279,031.28 €
3,671,719.14 € 4,350,390.70 € 4,449,489.70 € 5,305,425.84 €

2,952,157.71 € 3,487,455.94 € 3,429,705.54 € 4,790,102.74 €

495,478.32 € 534,623.69 € 56,054.89 € 1,392,349.29 €


3,195.15 € 674.54 € 1,695.51 € 31,952.09 €
499,191.71 € 678,671.55 € 99,099.00 € 855,936.14 €

2016 2017 2018 2019


13.20% 13.74% 15.49% 15.47%

92.48% 94.33% 95.18% 99.46%


86.75% 75.49% 66.07% 58.35%
80.23% 71.21% 62.89% 58.04%

103.61% 104.01% 104.27% 103.75%


74.42% 74.52% 74.58% 74.46%
8.16% 7.58% 7.58% 6.94%
74.62% 70.00% 70.00% 70.00%
14.36% 12.97% 12.49% 12.11%
16.76% 14.90% 14.28% 13.77%
19.24% 18.53% 17.85% 17.29%

2016 2017 2018 2019


68.00% 73.89% 86.04% 88.52%
212.51% 283.04% 616.52% 771.01%
32.00% 26.11% 13.96% 11.48%
47.50% 58.86% 100.00% 100.00%
310.53% 336.66% 377.27% 467.70%
310.48% 336.61% 377.21% 467.63%

2016 2017 2018 2019


9,630,152.97 € 10,164,776.66 € 10,108,721.77 € 11,501,071.06 €
6,054,423.18 € 5,914,646.77 € 5,762,088.29 € 6,269,850.26 €
3,575,729.79 € 4,250,129.90 € 4,346,633.48 € 5,231,220.80 €

85,870.55 € 92,079.72 € 99,454.12 € 118,670.95 €


113,163.02 € 122,147.74 € 129,843.78 € 126,732.40 €
27,292.46 € 30,068.02 € 30,389.66 € 8,061.45 €

5,427,377.38 € 6,352,947.02 € 6,415,131.53 € 7,315,908.19 €


1,634,894.97 € 1,765,198.40 € 1,570,822.00 € 1,450,460.15 €
3,792,482.41 € 4,587,748.62 € 4,844,309.53 € 5,865,448.04 €

3,603,022.25 € 4,280,197.91 € 4,377,023.14 € 5,239,282.24 €

499,000.48 € 674,400.10 € 96,503.58 € 884,587.32 €


1,853.92 € 2,775.56 € 321.64 € 22,328.21 €
500,216.73 € 795,266.21 € 256,560.90 € 1,021,138.51 €

2016 2017 2018 2019


13.84% 14.60% 16.52% 16.54%

92.98% 94.80% 95.68% 99.53%


77.07% 64.84% 54.67% 51.91%
71.66% 61.47% 52.30% 51.67%

103.52% 103.83% 104.02% 103.60%


74.40% 74.48% 74.52% 74.42%
7.64% 6.94% 6.70% 6.59%

70.00% 70.00% 70.00% 70.00%


14.25% 13.83% 13.44% 13.08%
16.62% 16.05% 15.53% 15.04%
20.35% 19.76% 19.20% 18.68%
2020
89.87%
887.04%
10.13%
100.00%
568.11%
568.05%

2020
12,979,695.79 €
6,697,740.58 €
6,281,955.21 €

91,337.57 €
107,045.81 €
15,708.24 €

8,311,987.74 €
1,356,214.99 €
6,955,772.75 €

6,297,663.45 €

1,478,624.73 €
28,935.98 €
1,650,346.91 €

2020
14.63%

100.00%
51.48%
51.48%

103.97%
74.51%
5.83%
70.00%
11.39%
12.86%
16.27%

2020
88.94%
804.38%
11.06%
100.00%
544.46%
544.40%

2020
12,979,695.79 €
6,130,073.85 €
6,849,621.94 €

112,326.65 €
143,959.26 €
31,632.61 €

9,319,124.64 €
1,567,854.65 €
7,751,269.99 €

6,881,254.55 €

1,618,401.14 €
23,571.16 €
1,885,821.95 €

2020
15.76%

100.00%
44.29%
44.29%

103.81%
74.47%
5.39%

70.00%
12.40%
14.16%
17.71%
ANÁLISE DE SENSIBILIDADE DO VALOR ACTUAL LIQUIDO AO PREÇO DE VENDA
Efeito VAL TIR PAYBACK
0.8 255,356.03 € 0.61% 10.67
0.85 1,271,976.37 € 2.91% 9.56
0.9 2,288,596.70 € 5.04% 8.71
0.95 3,305,217.04 € 7.02% 8.02
1 4,321,837.38 € 8.90% 7.42
1.05 5,338,457.71 € 10.68% 6.91
1.1 6,355,078.05 € 12.37% 6.47
1.15 7,371,698.39 € 13.99% 6.09
1.2 8,388,318.72 € 15.55% 5.75

0 1
Vendas Ajustadas Err:509 Err:509
Custos Operacionais € €
EBITDA Err:509 Err:509
Amortizações do Exercício € 5,366.67 €
EBIT(1-t) Err:509 Err:509
Imposto Err:509 Err:509
CF Operacional Err:509 Err:509
Variação Necessidades FM Err:509 220,598.46 €
Investimento Capital Fixo 3,820,437.06 € 1,673,429.37 €
Free Cash Flow to the Firm Err:509 Err:509

Taxa Retenção 1
PV 1
Custos Operacionais 1
Despesas de Investimento 1

0 1
Vendas Ajustadas € €
Custos Operacionais € €
EBITDA € €
Amortizações do Exercício € 5,366.67 €
EBIT(1-t) € 5,366.67 €
Imposto € 1,422.17 €
CF Operacional € 3,944.50 €
Variação Necessidades Fundo de Maneio Err:509 220,598.46 €
Investimento Capital Fixo 3,820,437.06 € 1,673,429.37 €
Free Cash Flow Firm Err:509 1,897,972.34 €

Taxa Actualização Nominal 8.34% 7.58%

Factor Actualização 1 1.08

Free Cash Flow Firm Descontado Err:509 1,764,187.33 €

VAL Err:509
TIR Err:509
PAYBACK Err:509 =

MAPA AUXILIAR PARA CÁLCULO DO PAYBACK PERIOD


A PREÇOS CORRENTES
0 Err:509 0
1 Err:509 1
2 Err:509 2
3 Err:509 3
4 Err:509 4
5 Err:509 5
6 Err:509 6
7 Err:509 7
8 Err:509 8
9 Err:509 9
10 Err:509 10
11 Err:509 11
Índice

ANÁLISE DE SENSIBILIDADE DO VALOR ACTUAL LIQUIDO À TAXA DE RETENÇÃO


Efeito VAL TIR PAYBACK
0.8 4,932,178.51 € 10.02% 7.11
0.85 4,779,593.22 € 9.74% 7.18
0.9 4,627,007.94 € 9.46% 7.26
0.95 4,474,422.66 € 9.18% 7.34
1 4,321,837.38 € 8.90% 7.42
1.05 4,169,252.09 € 8.62% 7.50
1.1 4,016,666.81 € 8.33% 7.59
1.15 3,864,081.53 € 8.04% 7.67
1.2 3,711,496.25 € 7.76% 7.76

2 3 4 5 6 7
2,876,274.51 € 3,519,780.41 € 3,677,237.35 € 3,745,957.65 € 4,018,362.22 € 4,296,066.84 €
1,151,337.10 € 1,607,890.37 € 1,721,289.33 € 1,706,540.63 € 1,838,950.39 € 1,915,120.82 €
1,724,937.42 € 1,911,890.04 € 1,955,948.02 € 2,039,417.02 € 2,179,411.82 € 2,380,946.01 €
237,138.68 € 237,138.68 € 248,211.81 € 152,558.47 € 152,558.47 € 152,558.47 €
1,487,798.74 € 1,674,751.36 € 1,707,736.22 € 1,886,858.55 € 2,026,853.35 € 2,228,387.54 €
394,266.67 € 443,809.11 € 452,550.10 € 500,017.52 € 537,116.14 € 590,522.70 €
1,093,532.07 € 1,230,942.25 € 1,255,186.12 € 1,386,841.03 € 1,489,737.21 € 1,637,864.84 €
130,178.17 € 231,727.60 € 498.47 € 2,123.80 € 301.16 € 1,853.92 €
1,398,763.65 € € 124,696.48 € 674.26 € 5,170.64 € 14,543.12 €
175,053.41 € 1,462,669.85 € 1,129,991.17 € 1,388,290.58 € 1,484,867.73 € 1,621,467.81 €

2 3 4 5 6 7
2,875,211.41 € 3,599,731.63 € 3,771,552.79 € 3,852,851.56 € 4,144,582.30 € 4,443,165.43 €
1,151,337.10 € 1,607,890.37 € 1,721,289.33 € 1,706,540.63 € 1,838,950.39 € 1,915,120.82 €
1,723,874.31 € 1,991,841.27 € 2,050,263.46 € 2,146,310.93 € 2,305,631.91 € 2,528,044.61 €
237,138.68 € 237,138.68 € 248,211.81 € 152,558.47 € 152,558.47 € 152,558.47 €
1,486,735.63 € 1,754,702.59 € 1,802,051.66 € 1,993,752.45 € 2,153,073.44 € 2,375,486.13 €
393,984.94 € 464,996.19 € 477,543.69 € 528,344.40 € 570,564.46 € 629,503.83 €
1,092,750.69 € 1,289,706.40 € 1,324,507.97 € 1,465,408.05 € 1,582,508.98 € 1,745,982.31 €
130,178.17 € 231,727.60 € 498.47 € 2,123.80 € 301.16 € 1,853.92 €
1,398,763.65 € € 124,696.48 € 674.26 € 5,170.64 € 14,543.12 €
175,834.79 € 1,521,434.00 € 1,199,313.02 € 1,466,857.60 € 1,577,639.49 € 1,729,585.28 €

7.26% 6.84% 6.42% 6.32% 6.21% 6.00%

1.15 1.23 1.31 1.39 1.48 1.57

152,372.41 € 1,234,007.97 € 914,051.20 € 1,051,539.19 € 1,064,806.76 € 1,101,238.16 €

Err:509

11 Err:509
12 Err:509

Err:509 Err:509
Err:509 Err:509 Err:509
ANÁLISE DE SENSIBILIDADE DO VALOR ACTUAL LIQUIDO AOS CUSTOS OPERACIONAIS
Efeito VAL TIR PAYBACK
0.8 6,095,764.40 € 12.06% 6.54
0.85 5,652,282.64 € 11.29% 6.74
0.9 5,208,800.89 € 10.50% 6.96
0.95 4,765,319.13 € 9.71% 7.18
1 4,321,837.38 € 8.90% 7.42
1.05 3,878,355.62 € 8.07% 7.68
1.1 3,434,873.87 € 7.23% 7.95
1.15 2,991,392.11 € 6.37% 8.24
1.2 2,547,910.36 € 5.50% 8.55

8 9 10 11
4,605,067.24 € 4,970,705.55 € 5,293,312.53 € 5,611,005.55 €
2,000,725.78 € 2,097,236.06 € 2,192,918.78 € 2,291,633.44 €
2,604,341.46 € 2,873,469.49 € 3,100,393.74 € 3,319,372.12 €
152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 €
2,451,782.98 € 2,720,911.02 € 2,947,835.27 € 3,166,813.64 €
649,722.49 € 721,041.42 € 781,176.35 € 839,205.62 €
1,802,060.49 € 1,999,869.60 € 2,166,658.92 € 2,327,608.03 €
2,775.56 € 321.64 € 22,328.21 € 23,571.16 €
922.46 € € 34,600.42 € 1,122.37 €
1,803,913.59 € 2,000,191.24 € 2,109,730.29 € 2,350,056.82 €

8 9 10 11
4,775,648.17 € 5,168,319.49 € 5,518,063.24 € 5,614,297.43 €
2,000,725.78 € 2,097,236.06 € 2,192,918.78 € 2,291,633.44 €
2,774,922.39 € 3,071,083.43 € 3,325,144.46 € 3,322,663.99 €
152,558.47 € 152,558.47 € 152,558.47 € 152,558.47 €
2,622,363.92 € 2,918,524.96 € 3,172,585.98 € 3,170,105.52 €
694,926.44 € 773,409.11 € 840,735.29 € 840,077.96 €
1,927,437.48 € 2,145,115.84 € 2,331,850.70 € 2,330,027.56 €
2,775.56 € 321.64 € 22,328.21 € 23,571.16 €
922.46 € € 34,600.42 € 1,122.37 €
1,929,290.57 € 2,145,437.49 € 2,274,922.06 € 2,352,476.35 €

5.80% 5.69% 5.69% 5.69%

1.66 1.76 1.86 1.96

1,161,080.21 € 1,221,601.79 € 1,225,545.76 € 1,199,050.54 €


ANÁLISE DE SENSIBILIDADE DO VALOR ACTUAL LIQUIDO ÀS DESPESAS DE INVESTIMENTO
Efeito VAL TIR PAYBACK
0.8 5,850,618.20 € 13.96% 6.11
0.85 5,468,422.99 € 12.54% 6.44
0.9 5,086,227.79 € 11.23% 6.77
0.95 4,704,032.58 € 10.02% 7.10
1 4,321,837.38 € 8.90% 7.42
1.05 3,939,642.17 € 7.85% 7.74
1.1 3,557,446.97 € 6.88% 8.06
1.15 3,175,251.76 € 5.96% 8.36
1.2 2,793,056.55 € 5.10% 8.67
Análise Sensibilidade ao VAL

9000000

8000000

7000000

6000000 Preço
5000000 Facto
de R
4000000 Custo
VAL

Desp
3000000

2000000

1000000

0.8 0.85 0.9 0.95 1 1.05 1.10000 1.14999 1.2


000000 999999
00001 99999
Efeito

Análise Sensibilidade TIR

Preço Venda
Factor Correctivo da
Taxa de Retenção
Custos Operacionais
TIR

Despesas
Investimento

0.8 0.85 0.9 0.95 1 1.05 1.100 1.149 1.2


00000 99999
00000 99999
001 999
Efeito
Preço Venda
Factor Correctivo da Taxa
de Retenção
Custos Operacionais
Despesas de Investimento

1.2

Análise Sensibilidade PAYBACK

12

10
Pr
8
Venda Fa
6 Ta
r Correctivo da
PAYBACK

de Retenção Cu
4 D
s Operacionais
2 In
esas
timento
0.8 0.85 0.9 0.95 1 1.05 1.1000 1.1499 1.2
00000 99999
00000 99999
01 99
Efeito
PAYBACK

Preço Venda
Factor Correctivo da
Taxa de Retenção
Custos Operacionais
Despesas
Investimento

499 1.2
999
999