8.5. ESTADOS FINANCIEROS
8.5.1. ESTADO DE DE RESULTADOS
|
PlusHeart S.A.S |
|||||
|
ESTADO DE RESULTADOS |
|||||
| Concepto |
2013 |
2014 |
2015 |
2016 |
2017 |
| Ventas |
1.251.500.000 |
1.353.622.400 |
1.464.077.988 |
1.583.546.752 |
1.712.764.167 |
| Costos |
736.900.000 |
792.488.320 |
852.430.938 |
917.075.897 |
986.799.348 |
| Utilidad Bruta |
514.600.000 |
561.134.080 |
611.647.050 |
666.470.855 |
725.964.819 |
| Gastos operativos |
480.980.000 |
493.592.800 |
513.430.112 |
534.020.916 |
554.395.353 |
| Utilidad antes impuestos e intereses |
33.620.000 |
67.541.280 |
98.216.938 |
132.449.938 |
171.569.466 |
| Gastos financieros |
41.166.398 |
35.183.274 |
27.764.200 |
18.564.549 |
7.156.982 |
| Ingresos financieros |
0 |
12.350.024 |
13.865.890 |
16.602.407 |
21.011.785 |
| Utilidad antes de impuestos |
-7.546.398 |
44.708.030 |
84.318.627 |
130.487.796 |
185.424.269 |
| Impuestos |
0 |
14.753.650 |
27.825.147 |
43.060.973 |
61.190.009 |
| Utilidad neta |
-7.546.398 |
29.954.380 |
56.493.480 |
87.426.823 |
124.234.260 |
8.5.2. CAPITAL DE TRABAJO.
El capital de trabajo necesario para la realización del proyecto es de 97,053.333 pesos colombianos
8.5.3. MEZCLA FINANCIERA.
Se solicitará un crédito por un valor de 200.645.000 pesos colombianos, la tabla de amortización es la siguiente:
|
PLAN DE AMORTIZACIÓN |
||||
| VALOR PRESTAMO |
200.645.000 |
|||
| PLAZO |
60 |
|||
| TASA |
1,809% |
|||
| CUOTA MES |
5.508.007 |
|||
|
CUOTA |
INICIAL |
INTERES |
CAPITAL |
SALDO |
|
1 |
200.645.000 |
3.629.183 |
1.878.824 |
198.766.176 |
|
2 |
198.766.176 |
3.595.200 |
1.912.807 |
196.853.369 |
|
3 |
196.853.369 |
3.560.602 |
1.947.405 |
194.905.964 |
|
4 |
194.905.964 |
3.525.378 |
1.982.629 |
192.923.335 |
|
5 |
192.923.335 |
3.489.517 |
2.018.490 |
190.904.845 |
|
6 |
190.904.845 |
3.453.007 |
2.055.000 |
188.849.845 |
|
7 |
188.849.845 |
3.415.837 |
2.092.170 |
186.757.676 |
|
8 |
186.757.676 |
3.377.995 |
2.130.012 |
184.627.664 |
|
9 |
184.627.664 |
3.339.468 |
2.168.539 |
182.459.125 |
|
10 |
182.459.125 |
3.300.244 |
2.207.762 |
180.251.363 |
|
11 |
180.251.363 |
3.260.311 |
2.247.695 |
178.003.668 |
|
12 |
178.003.668 |
3.219.656 |
2.288.351 |
175.715.317 |
|
|
||||
|
año 1 |
41.166.398 |
24.929.683 |
||
|
|
||||
|
13 |
175.715.317 |
3.178.265 |
2.329.741 |
173.385.576 |
|
14 |
173.385.576 |
3.136.126 |
2.371.881 |
171.013.695 |
|
15 |
171.013.695 |
3.093.224 |
2.414.782 |
168.598.913 |
|
16 |
168.598.913 |
3.049.547 |
2.458.460 |
166.140.453 |
|
17 |
166.140.453 |
3.005.079 |
2.502.928 |
163.637.525 |
|
18 |
163.637.525 |
2.959.807 |
2.548.199 |
161.089.326 |
|
19 |
161.089.326 |
2.913.716 |
2.594.290 |
158.495.035 |
|
20 |
158.495.035 |
2.866.792 |
2.641.215 |
155.853.821 |
|
21 |
155.853.821 |
2.819.019 |
2.688.988 |
153.164.833 |
|
22 |
153.164.833 |
2.770.382 |
2.737.625 |
150.427.208 |
|
23 |
150.427.208 |
2.720.865 |
2.787.142 |
147.640.065 |
|
24 |
147.640.065 |
2.670.452 |
2.837.555 |
144.802.511 |
|
|
||||
|
Año 2 |
35.183.274 |
30.912.807 |
||
|
|
||||
|
25 |
144.802.511 |
2.619.127 |
2.888.879 |
141.913.631 |
|
26 |
141.913.631 |
2.566.875 |
2.941.132 |
138.972.499 |
|
27 |
138.972.499 |
2.513.677 |
2.994.330 |
135.978.169 |
|
28 |
135.978.169 |
2.459.516 |
3.048.490 |
132.929.679 |
|
29 |
132.929.679 |
2.404.377 |
3.103.630 |
129.826.048 |
|
30 |
129.826.048 |
2.348.239 |
3.159.767 |
126.666.281 |
|
31 |
126.666.281 |
2.291.087 |
3.216.920 |
123.449.361 |
|
32 |
123.449.361 |
2.232.901 |
3.275.106 |
120.174.255 |
|
33 |
120.174.255 |
2.173.662 |
3.334.345 |
116.839.910 |
|
34 |
116.839.910 |
2.113.352 |
3.394.655 |
113.445.255 |
|
35 |
113.445.255 |
2.051.950 |
3.456.056 |
109.989.198 |
|
36 |
109.989.198 |
1.989.439 |
3.518.568 |
106.470.630 |
|
|
||||
|
Año 3 |
27.764.200 |
38.331.880 |
||
|
|
||||
|
37 |
106.470.630 |
1.925.796 |
3.582.210 |
102.888.420 |
|
38 |
102.888.420 |
1.861.003 |
3.647.004 |
99.241.416 |
|
39 |
99.241.416 |
1.795.037 |
3.712.969 |
95.528.447 |
|
40 |
95.528.447 |
1.727.879 |
3.780.128 |
91.748.319 |
|
41 |
91.748.319 |
1.659.505 |
3.848.501 |
87.899.817 |
|
42 |
87.899.817 |
1.589.895 |
3.918.112 |
83.981.706 |
|
43 |
83.981.706 |
1.519.026 |
3.988.981 |
79.992.725 |
|
44 |
79.992.725 |
1.446.875 |
4.061.132 |
75.931.593 |
|
45 |
75.931.593 |
1.373.419 |
4.134.588 |
71.797.006 |
|
46 |
71.797.006 |
1.298.634 |
4.209.372 |
67.587.633 |
|
47 |
67.587.633 |
1.222.497 |
4.285.510 |
63.302.123 |
|
48 |
63.302.123 |
1.144.982 |
4.363.024 |
58.939.099 |
|
|
||||
|
Año 4 |
18.564.549 |
47.531.531 |
||
|
|
||||
|
49 |
58.939.099 |
1.066.066 |
4.441.941 |
54.497.158 |
|
50 |
54.497.158 |
985.722 |
4.522.285 |
49.974.873 |
|
51 |
49.974.873 |
903.925 |
4.604.082 |
45.370.791 |
|
52 |
45.370.791 |
820.648 |
4.687.359 |
40.683.432 |
|
53 |
40.683.432 |
735.865 |
4.772.142 |
35.911.291 |
|
54 |
35.911.291 |
649.548 |
4.858.458 |
31.052.832 |
|
55 |
31.052.832 |
561.671 |
4.946.336 |
26.106.496 |
|
56 |
26.106.496 |
472.203 |
5.035.803 |
21.070.693 |
|
57 |
21.070.693 |
381.118 |
5.126.889 |
15.943.804 |
|
58 |
15.943.804 |
288.385 |
5.219.622 |
10.724.182 |
|
59 |
10.724.182 |
193.975 |
5.314.032 |
5.410.150 |
|
60 |
5.410.150 |
97.857 |
5.410.150 |
0 |
|
|
||||
|
Año 5 |
7.156.982 |
58.939.099 |
||
La inversión que se proyecta en el proyecto se resume en la siguiente tabla:
|
PlusHeart S.A.S |
|||
|
INVERSIÓN ACTIVOS |
|||
|
|
|
|
|
|
Valor total |
Años de |
Depreciación |
|
|
MUEBLES Y ENSERES Y EQUIPO DE OFICINA |
|||
|
|
|
|
|
| Escritorio oficina |
8.000.000 |
5 |
2.280.000 |
| Sillas oficina |
2.400.000 |
|
|
| Adecuación oficina |
1.000.000 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
|
|
|
|
| SUBTOTAL |
11.400.000 |
|
2.280.000 |
|
|
|
|
|
|
|
|
|
|
|
MAQUINARIA Y EQUIPO |
|||
|
|
|
|
|
| Electrocardiograma |
6.000.000 |
5 |
3.180.000 |
| Tensiometros digital |
900.000 |
|
|
| Utensilios médicos variados |
9.000.000 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
|
|
|
|
| SUBTOTAL |
15.900.000 |
|
3.180.000 |
|
|
|
|
|
|
|
|
|
|
|
VEHICULOS |
|||
|
|
|
|
|
|
0 |
0 |
5 |
0 |
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
|
|
|
|
| SUBTOTAL |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
|
TERRENOS |
|||
|
|
|
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
|
|
|
|
| SUBTOTAL |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
EDIFICACIONES |
|||
|
|
|
|
|
|
0 |
0 |
20 |
0 |
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
|
|
|
|
| SUBTOTAL |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
|
EQUIPO DE COMPUTO |
|||
|
|
|
|
|
| Computadores |
12.000.000 |
5 |
2.400.000 |
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
|
|
|
|
| SUBTOTAL |
12.000.000 |
|
2.400.000 |
|
|
|
|
|
|
|
|
|
|
|
SOFTWARE |
|||
|
|
|
|
|
|
0 |
0 |
3 |
0 |
|
0 |
0 |
|
|
|
0 |
0 |
|
|
|
|
|
|
|
| SUBTOTAL |
0 |
|
0 |
|
|
|
|
|
| TOTALES |
39.300.000 |
7.860.000 |
|
|
INVERSIÓN CAPITAL DE TRABAJO |
|||
|
|
|
|
|
| Capital de trabajo |
97.053.333 |
||
| Inventarios |
104.291.667 |
||
| TOTAL INVERSIÓN INICIAL |
240.645.000 |
||
Se requiere una inversión inicial de 240.645.000 pesos colombianos, que se resumen en la adquisición de los equipos, inventarios y contratación de personal.
8.5.4. BALANCE GENERAL
|
PlusHeart S.A.S |
||||||
|
BALANCE GENERAL |
||||||
|
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
| Activos corrientes | ||||||
|
|
||||||
| Disponible |
97.053.333 |
300.000 |
300.000 |
300.000 |
300.000 |
300.000 |
| Inversiones temporales |
176.428.919 |
198.084.143 |
237.177.241 |
300.168.358 |
391.452.556 |
|
| Deudores (cuentas por cobrar) |
0 |
0 |
0 |
0 |
0 |
|
| Inventarios |
104.291.667 |
0 |
0 |
0 |
0 |
0 |
| Otros activos | ||||||
| Total activo corriente |
201.345.000 |
176.728.919 |
198.384.143 |
237.477.241 |
300.468.358 |
391.752.556 |
|
12% |
||||||
| Activos de largo plazo | ||||||
| Muebles y enseres |
11.400.000 |
11.400.000 |
11.400.000 |
11.400.000 |
11.400.000 |
11.400.000 |
| Maquinaria y equipo |
15.900.000 |
15.900.000 |
15.900.000 |
15.900.000 |
15.900.000 |
15.900.000 |
| Vehículos |
0 |
0 |
0 |
0 |
0 |
0 |
| Terrenos |
0 |
0 |
0 |
0 |
0 |
0 |
| Edificaciones |
0 |
0 |
0 |
0 |
0 |
0 |
| Equipo de computación |
12.000.000 |
12.000.000 |
12.000.000 |
12.000.000 |
12.000.000 |
12.000.000 |
| Depreciación acumulada |
0 |
(7.860.000) |
(15.720.000) |
(23.580.000) |
(31.440.000) |
(39.300.000) |
| Software e intangibles |
0 |
0 |
0 |
0 |
0 |
0 |
| Amortización acumulada |
0 |
0 |
0 |
0 |
0 |
0 |
| Total activos no corrientes |
39.300.000 |
31.440.000 |
23.580.000 |
15.720.000 |
7.860.000 |
0 |
| Total activos |
240.645.000 |
208.168.919 |
221.964.143 |
253.197.241 |
308.328.358 |
391.752.556 |
|
-13% |
7% |
14% |
22% |
27% |
||
| Pasivos corrientes | ||||||
|
|
||||||
| Proveedores |
0 |
0 |
0 |
0 |
0 |
0 |
| Impuesto por pagar |
0 |
14.753.650 |
27.825.147 |
43.060.973 |
61.190.009 |
|
| Obligaciones financieras corrientes |
24.929.683 |
30.912.807 |
38.331.880 |
47.531.531 |
58.939.099 |
0 |
| Total pasivos corrientes |
24.929.683 |
30.912.807 |
53.085.530 |
75.356.679 |
102.000.072 |
61.190.009 |
| Pasivos no corrientes | ||||||
|
|
||||||
| Obligaciones financieras no corrientes |
175.715.317 |
144.802.511 |
106.470.630 |
58.939.099 |
0 |
0 |
| Total pasivos no corrientes |
175.715.317 |
144.802.511 |
106.470.630 |
58.939.099 |
0 |
0 |
| Total pasivos |
200.645.000 |
175.715.317 |
159.556.161 |
134.295.778 |
102.000.072 |
61.190.009 |
|
-9% |
-16% |
-24% |
-40% |
|||
| Patrimonio | ||||||
|
|
||||||
| Capital |
40.000.000 |
40.000.000 |
40.000.000 |
40.000.000 |
40.000.000 |
40.000.000 |
| Reserva Legal |
0 |
0 |
0 |
2.995.438 |
8.644.786 |
17.387.468 |
| Utilidades retenidas |
0 |
0 |
(7.546.398) |
19.412.545 |
70.256.677 |
148.940.818 |
| Utilidad del periodo |
0 |
(7.546.398) |
29.954.380 |
56.493.480 |
87.426.823 |
124.234.260 |
| Total patrimonio |
40.000.000 |
32.453.602 |
62.407.983 |
118.901.463 |
206.328.287 |
330.562.547 |
|
-19% |
92% |
91% |
74% |
60% |
||
| Total pasivo y patrimonio |
240.645.000 |
208.168.919 |
221.964.143 |
253.197.241 |
308.328.358 |
391.752.556 |
El balance general reporta una estabilidad patrimonial de la empresa, generando en los cinco periodos una gran cantidad de patrimonio.
8.5.5. FLUJO DE CAJA Y EVALUACIÓN FINANCIERA DEL PROYECTO
|
PlusHeart S.A.S |
||||||
|
FLUJO DE CAJA DEL PROYECTO |
||||||
| Concepto |
2013 |
2014 |
2015 |
2016 |
2017 |
|
| Ventas |
1.251.500.000 |
1.353.622.400 |
1.464.077.988 |
1.583.546.752 |
1.712.764.167 |
|
| Costos |
736.900.000 |
792.488.320 |
852.430.938 |
917.075.897 |
986.799.348 |
|
| Gastos operativos |
480.980.000 |
493.592.800 |
513.430.112 |
534.020.916 |
554.395.353 |
|
| Utilidad operativa |
33.620.000 |
67.541.280 |
98.216.938 |
132.449.938 |
171.569.466 |
|
| Impuesto de renta operativo |
11.094.600 |
22.288.622 |
32.411.589 |
43.708.480 |
56.617.924 |
|
| Beneficio fiscal financiero |
-11.094.600 |
-7.534.972 |
-4.586.442 |
-647.507 |
4.572.085 |
|
| Utilidad operativa despues de impuestos |
33.620.000 |
52.787.630 |
70.391.791 |
89.388.966 |
110.379.457 |
|
| Depreciación y amortización |
7.860.000 |
7.860.000 |
7.860.000 |
7.860.000 |
7.860.000 |
|
| Flujo de caja bruto operativo |
41.480.000 |
60.647.630 |
78.251.791 |
97.248.966 |
118.239.457 |
|
La empresa dispone de un flujo de caja suficiente para pagar a sus proveedores y deudas a corto y largo plazo.
8.5.6. PUNTO DE EQUILIBRIO
|
PUNTO DE EQUILIBRIO – PRIMER AÑO |
||||
| COSTOS FIJOS: |
2013 |
PRECIO DE VENTA |
2013 |
|
| Precio de venta promedio |
233.054 |
|||
| Costos fijos |
109.200.000 |
|||
| Gastos operativos |
480.980.000 |
PRECIO DE VENTA UNITARIO |
233.054 |
|
| Gastos financieros |
41.166.398 |
|||
| Impuestos |
0 |
PUNTO DE EQUILIBRIO |
2013 |
|
| TOTAL COSTOS FIJOS |
631.346.398 |
EN UNIDADES (Costos fijos / pvu – cvu) – ANUAL |
5.435 |
|
| COSTOS VARIABLES |
2013 |
EN UNIDADES (Costos fijos / pvu – cvu) – MENSUAL |
453 |
|
| Costo variable promedio |
116.890 |
EN PESOS (Costos fijos / 1 – MCU) – ANUAL |
1.266.639.976 |
|
| TOTAL COSTOS VARIABLES |
116.890 |
EN PESOS (Costos fijos / 1 – MCU) – MENSUAL |
105.553.331 |
|
La empresa logra el punto de equilibrio con una facturación de 1.266.639.976 pesos colombianos, lo que equivale a unos ingresos de 105.552.331 pesos colombianos mensuales.
8.5.7. INDICES FINANCIEROS
De los indicadores mencionados se observa la viabilidad financiera de la empresa, generando valor para los socios desde el primer año.
9. CONCLUSIONES FINALES
La empresa es viable a nivel financiero generando utilidad neta desde el primer año, los indicadores financieros reportan que durante los cinco años proyectados la empresa obtiene una estructura financiera más sólida.
El estudio de mercado realizado muestra que las enfermedades crónicas cardiovasculares cada vez tiene una mayor prevalencia en el mundo, como consecuencia de los hábitos de vida. De este modo, y según la encuesta realizada la zona donde estará ubicada la empresa tiene una gran receptividad.
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