0 1 2 3 4

+ CA 150000 210000 240000 240000

- CV 60000 84000 96000 96000
- CF 13000 13000 13000 13000
= EBE/IBE 77000 113000 131000 131000
- AMMOR 80000 80000 80000 80000
= RESULTAT BRT -3000 33000 51000 51000
- IS 375 9900 15300 15300
= RESULTAT NET -3375 23100 35700 35700
+ AMMOR 80000 80000 80000 80000
= CAF 76625 103100 115700 115700
= CASH FOLW 76625 103100 115700 115700
= CASH FLOW ACT(9%) 70298.16 86777.2 89341.63 81964.79
cash flow actualise 7% 71612.1495327 90051.5329 94445.6644 88266.976

7 % somme Cfa
408901.572051121 9% somme Cfa 387200.57 tir-7/9-7=0-809,55/-12799,43-890
van(7%) van((9%) -12799.43
8901.57205112063 tir=7,82%

1 ca-cv=marge sur cv
2 TM/CV=marge sur cv/ca

0,6=x/150000
marge sur cv=90000
cv=ca-marge=60000
 5
180000
72000
13000
95000
80000
15000
4500
10500
80000
90500
90500
58818.79
64525.2492

r-7/9-7=0-809,55/-12799,43-8901,57

a-cv=marge sur cv
M/CV=marge sur cv/ca

,6=x/150000
marge sur cv=90000
v=ca-marge=60000
ANNEE KDP INT AMMOR ANNUITE KFP
1 240000 14400 42575.13 56975.13 197424.87
2 197424.87 11845.4922 45129.6378 56975.13 152295.232
3 152295.232 9137.71393 47837.4161 56975.13 104457.816
4 104457.816 6267.46897 50707.661 56975.13 53750.1551
5 53750.1551 3225.00931 53750.1207 56975.13 0

redevance montant EF/REDV dr dr actualisé"

redevence1 75000 22500 52500 48165.13
redevence2 75000 22500 52500 44188.19
redevence3 75000 22500 52500 40539.63
132892.95

cout global:
552892.95
 EF/INT EF/AC DR DR ACT
4320 34200 18455.13 16931.31 cout global emprunt 437555.35
3553.64766 34200 19221.4823 16178.33
2741.31418 34200 20033.8158 15469.78
1880.24069 34200 20894.8893 14802.47
967.502792 34200 21807.6272 14173.46
100412.945 77555.35

Somme dr actualisé"
132892.95
 0 1 2 3
+ CA
- CV
- CF
= EBE/IBE -87500 365800 498000
- AMMOR comptable 88000 88000 88000
- interet 23400 16085.7288 8296.02987
= RESULTAT BRT -198900 261714.271 401703.97
- IS 0 26171.4271 40170.397
= RESULTAT NET -198900 235542.844 361533.573
+ AMMOR comptable 88000 88000 88000
= CAF -110900 323542.844 449533.573
- VAR BFR 56000 2800 2940 3087
+ RECU BFR
+ VR
= CASH FOLW -113700 320602.844 446446.573
amorti emprunt 112527.25 119841.521 127631.22
= FNT -226227.25 200761.323 318815.353
FNT ACTUALISé -201988.01 160045.69 226926.47
somme fnt actualié

emprunt =360000 ip=van/io +1

AUTO =440000 io=in+bfr 856000

van=-io+somme fnt actualisé=-856000+777895,19

VAN=-78104,81
IP: 0.90875606

Tableau de variation de BFR

0 1 2
CA
BFR 56000 58800
VAR BFR 56000 2800 2940
recupeation bfr
ANNEE KDP INT AMMOR
1 360000 23400 112527.25
2 247472.75 16085.7288 119841.521
3 127631.229 8296.02987 127631.22
 4

643700
88000

555700
55570
500130
88000
588130

64827
280000
932957

932957
592911.04
777895.19

é=-856000+777895,19

ation de BFR

3 4

61740 64827
3087
64827
ANNUITE KFP
135927.25 247472.75
135927.25 127631.229
135927.25 0