MODELAJE FINANCIERO

PROYECCIONES ANUALES
Un. Ao 0 Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Variables Macroeconmicas
Inflacin % 4.00% 3.25% 3.01% 3.02% 3.02%
Devaluacin % 8.00% 2.28% 4.55% -2.74% 0.87%
IPP % 4.00% 3.25% 3.01% 3.02% 3.02%
Crecimiento PIB % 5.00% 5.00% 5.00% 5.00% 5.00%
DTF T.A. % 8.63% 7.94% 7.08% 6.33% 5.59%
Ventas, Costos y Gastos
Precio Por Producto
Precio Derechos de Conexin $ / unid. 597,846 627,738 659,126 692,082 726,686
Precio Instalacion interna $ / unid. 700,000 749,000 801,430 857,530 917,557
Precio Metro cubico de gas $ / unid. 4,880 4,950 4,850 5,050 5,100
Precio $ / unid. 0 0 0 0 0
Precio $ / unid. 0 0 0 0 0
Unidades Vendidas por Producto
Unidades Derechos de Conexin unid. 630 110 80 80 220
Unidades Instalacion interna unid. 630 110 80 80 220
Unidades Metro cubico de gas unid. 113,400 122,640 129,360 136,080 152,880
Unidades unid. 0 0 0 0 0
Unidades unid. 0 0 0 0 0
Total Ventas
Precio Promedio $ 11,957.4 6,173.8 5,746.1 5,954.0 7,444.7
Ventas unid. 114,660 122,860 129,520 136,240 153,320
Ventas $ 1,371,034,980 758,509,213 744,240,473 811,172,992 1,141,421,531
Rebajas en Ventas
Rebaja % ventas 0.1% 0.1% 0.1% 0.1% 0.1%
Pronto pago $ 1,371,035 758,509 744,240 811,173 1,141,422
Costos Unitarios Materia Prima
Costo Materia Prima Derechos de Conexin $ / unid. 154,000 161,700 169,785 178,274 187,188
Costo Materia Prima Instalacion interna $ / unid. 120,000 126,000 132,300 138,915 145,861
Costo Materia Prima Metro cubico de gas $ / unid. 1,800 1,890 1,985 2,084 2,188
Costo Materia Prima $ / unid. 0 0 0 0 0
Costo Materia Prima $ / unid. 0 0 0 0 0
Costos Unitarios Mano de Obra
Costo Mano de Obra Derechos de Conexin $ / unid. 20,000 23,000 28,000 31,000 33,000
Costo Mano de Obra Instalacion interna $ / unid. 20,000 23,000 28,000 31,000 33,000
Costo Mano de Obra Metro cubico de gas $ / unid. 150 198 210 255 278
Costo Mano de Obra $ / unid. 0 0 0 0 0
Costo Mano de Obra $ / unid. 0 0 0 0 0
Costos Variables Unitarios
Materia Prima (Costo Promedio) $ / unid. 3,285.7 2,144.2 2,168.6 2,267.5 2,659.5
Mano de Obra (Costo Promedio) $ / unid. 368.1 238.8 244.3 291.1 371.9
Materia Prima y M.O. $ / unid. 3,653.8 2,383.0 2,413.0 2,558.6 3,031.4
Otros Costos de Fabricacin
Otros Costos de Fabricacin $ 2,236,589 1,562,143 1,741,201 1,758,412 1,784,152
Costos Produccin Inventariables
Materia Prima $ 376,740,000 263,436,600 280,881,720 308,928,438 407,758,589
Mano de Obra $ 42,210,000 29,342,720 31,645,600 39,660,400 57,020,640
Materia Prima y M.O. $ 418,950,000 292,779,320 312,527,320 348,588,838 464,779,229
Depreciacin $ 4,720,000 6,510,000 10,210,000 9,783,333 11,850,000
Agotamiento $ 0 0 0 0 0
Total $ 423,670,000 299,289,320 322,737,320 358,372,171 476,629,229
373599946.xlsx Pgina 1
 MODELAJE FINANCIERO
BASES ANUALES

PARAMETRO VALOR EXPLICACION

Nombre de los Productos
Derechos de Conexin
Instalacion interna
Metro cubico de gas

Informacn del Proyecto

Tasa de Descuento 20% Tasa Efectiva Anual
Duracin de la etapa improductiva del negocio ( fase de
6 mes
implementacin).en meses
Periodo en el cual se plantea la primera expansin del negocio (
6 mes
Indique el mes )
Periodo en el cual se plantea la segunda expansin del negocio
12 mes
( Indique el mes )
Condiciones de la Deuda
Gracia 1 Gracia a Capital (Aos)
Plazo 5 Plazo de la Deuda (Aos)
Tasa en pesos 10% Puntos por encima del DTF
Depreciacin Activos Fijos
Construcciones y Edificaciones 20 Vida til (aos)
Maquinaria y Equipo de Operacin 10 Vida til (aos)

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 MODELAJE FINANCIERO
BALANCE GENERAL ANUAL

Ao 0 Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
BALANCE GENERAL
Activo
Efectivo 0 787,414,093 889,270,235 1,059,313,471 1,279,800,259 1,697,276,986
Cuentas X Cobrar 0 114,252,915 63,209,101 62,020,039 67,597,749 95,118,461
Provisin Cuentas por Cobrar -1,142,529 -632,091 -620,200 -675,977 -951,185
Inventarios Materias Primas e Insumos 0 5,232,500 3,658,842 3,901,135 4,290,673 5,663,314
Inventarios de Producto en Proceso 0 11,768,611 8,313,592 8,964,926 9,954,783 13,239,701
Inventarios Producto Terminado 0 17,652,917 12,470,388 13,447,388 14,932,174 19,859,551
Anticipos y Otras Cuentas por Cobrar 0 65,235,120 32,569,850 42,563,200 51,235,620 52,356,241
Gastos Anticipados 0 38,821,040 43,077,390 49,203,408 67,736,158 66,621,663
Total Activo Corriente: 0 1,039,234,667 1,051,937,308 1,238,793,366 1,494,871,438 1,949,184,732
Terrenos 0 0 18,000,000 18,000,000 18,000,000 18,000,000
Construcciones y Edificios 0 0 11,400,000 10,800,000 10,200,000 33,350,000
Maquinaria y Equipo de Operacin 0 5,040,000 7,630,000 7,620,000 6,610,000 6,950,000
Muebles y Enseres 0 3,040,000 3,240,000 3,040,000 2,800,000 2,960,000
Equipo de Transporte 0 9,600,000 7,200,000 16,800,000 11,400,000 6,000,000
Equipo de Oficina 0 2,000,000 2,200,000 1,400,000 1,066,667 2,066,667
Semovientes pie de cria 0 0 0 0 0 0
Cultivos Permanentes 0 0 0 0 0 0
Total Activos Fijos: 0 19,680,000 49,670,000 57,660,000 50,076,667 69,326,667
Total Otros Activos Fijos 0 15,000,000 13,000,000 10,000,000 12,080,000 10,110,250
ACTIVO 0 1,073,914,667 1,114,607,308 1,306,453,366 1,557,028,104 2,028,621,649
Pasivo
Cuentas X Pagar Proveedores 0 34,912,500 24,398,277 26,043,943 29,049,070 38,731,602
Impuestos X Pagar 0 304,631,203 143,091,863 128,551,305 135,484,030 202,117,175
Acreedores Varios 10,235,200 12,425,620 12,500,000 15,362,541 36,521,452
Obligaciones Financieras 0 0 0 0 0 0
Otros pasivos a LP 5,642,110 18,452,100 5,698,541 7,548,965 12,569,855
Obligacion Fondo Emprender (Contingente) 0 0 0 0 0 0
PASIVO 0 355,421,013 198,367,859 172,793,790 187,444,606 289,940,084
Patrimonio
Capital Social 0 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000
Reserva Legal Acumulada 0 0 50,000,000 50,000,000 50,000,000 50,000,000
Utilidades Retenidas 0 0 475,719,606 722,661,472 944,509,861 1,178,322,453
Utilidades del Ejercicio 0 618,493,654 290,519,843 260,998,105 275,073,637 410,359,112
Revalorizacion patrimonio 0 0 0 0 0 0
PATRIMONIO 0 718,493,654 916,239,449 1,133,659,577 1,369,583,498 1,738,681,565
PASIVO + PATRIMONIO 0 1,073,914,667 1,114,607,308 1,306,453,366 1,557,028,104 2,028,621,649

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 MODELAJE FINANCIERO
ESTADO DE RESULTADOS ANUAL

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
ESTADO DE RESULTADOS
Ventas 1,371,034,980 758,509,213 744,240,473 811,172,992 1,141,421,531
Devoluciones y rebajas en ventas 1,371,035 758,509 744,240 811,173 1,141,422
Materia Prima, Mano de Obra 418,950,000 292,779,320 312,527,320 348,588,838 464,779,229
Depreciacin 4,720,000 6,510,000 10,210,000 9,783,333 11,850,000
Agotamiento 0 0 0 0 0
Otros Costos 2,236,589 1,562,143 1,741,201 1,758,412 1,784,152
Utilidad Bruta 943,757,356 456,899,241 419,017,712 450,231,235 661,866,729
Gasto de Ventas 3,200,000 950,000 1,254,110 1,652,000 2,895,410
Gastos de Administracion 6,584,710 9,652,311 10,200,000 10,800,000 12,541,210
Provisiones 1,142,529 -510,438 -11,891 55,777 275,207
Amortizacin Gastos 9,705,260 13,195,663 18,026,083 27,165,791 33,678,615
Utilidad Operativa 923,124,857 433,611,705 389,549,410 410,557,667 612,476,287
Otros ingresos
Intereses 0 0 0 0 0
Otros ingresos y egresos 0 0 0 0 0
Utilidad antes de impuestos 923,124,857 433,611,705 389,549,410 410,557,667 612,476,287
Impuestos (35%) 304,631,203 143,091,863 128,551,305 135,484,030 202,117,175
Utilidad Neta Final 618,493,654 290,519,843 260,998,105 275,073,637 410,359,112

373599946.xlsx Pgina 4
 MODELAJE FINANCIERO
FLUJO DE CAJA ANUAL
Ao 0 Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
FLUJO DE CAJA
Flujo de Caja Operativo
Utilidad Operacional 923,124,857 433,611,705 389,549,410 410,557,667 612,476,287
Depreciaciones 4,720,000 6,510,000 10,210,000 9,783,333 11,850,000
Amortizacin Gastos 9,705,260 13,195,663 18,026,083 27,165,791 33,678,615
Agotamiento 0 0 0 0 0
Provisiones 1,142,529 -510,438 -11,891 55,777 275,207
Impuestos 0 -304,631,203 -143,091,863 -128,551,305 -135,484,030
Neto Flujo de Caja Operativo 938,692,646 148,175,727 274,681,739 319,011,263 522,796,078
Flujo de Caja Inversin
Variacion Cuentas por Cobrar -114,252,915 51,043,814 1,189,062 -5,577,710 -27,520,712
Variacion Inv. Materias Primas e insumos3 -5,232,500 1,573,658 -242,293 -389,538 -1,372,641
Variacion Inv. Prod. En Proceso -11,768,611 3,455,019 -651,333 -989,857 -3,284,918
Variacion Inv. Prod. Terminados -17,652,917 5,182,528 -977,000 -1,484,785 -4,927,377
Var. Anticipos y Otros Cuentas por Cobrar -65,235,120 32,665,270 -9,993,350 -8,672,420 -1,120,621
Otros Activos -48,526,300 -17,452,013 -24,152,100 -45,698,541 -32,564,120
Variacin Cuentas por Pagar 34,912,500 -10,514,223 1,645,667 3,005,127 9,682,533
Variacin Acreedores Varios 10,235,200 2,190,420 74,380 2,862,541 21,158,911
Variacin Otros Pasivos 5,642,110 12,809,990 -12,753,559 1,850,424 5,020,890
Variacin del Capital de Trabajo 0 -211,878,553 80,954,463 -45,860,527 -55,094,760 -34,928,056
Inversin en Terrenos 0 0 -18,000,000 0 0 0
Inversin en Construcciones 0 0 -12,000,000 0 0 -25,000,000
Inversin en Maquinaria y Equipo 0 -5,600,000 -3,500,000 -1,000,000 0 -1,500,000
Inversin en Muebles 0 -3,800,000 -1,200,000 -1,000,000 -1,200,000 -2,000,000
Inversin en Equipo de Transporte 0 -12,000,000 0 -15,000,000 0 0
Inversin en Equipos de Oficina 0 -3,000,000 -1,800,000 -1,200,000 -1,000,000 -2,600,000
Inversin en Semovientes 0 0 0 0 0 0
Inversin Cultivos Permanentes 0 0 0 0 0 0
Inversin Otros Activos 0 -15,000,000 2,000,000 3,000,000 -2,080,000 1,969,750
Inversin Activos Fijos 0 -39,400,000 -34,500,000 -15,200,000 -4,280,000 -29,130,250
Neto Flujo de Caja Inversin 0 -251,278,553 46,454,463 -61,060,527 -59,374,760 -64,058,306
Flujo de Caja Financiamiento
Desembolsos Fondo Emprender 0
Desembolsos Pasivo Largo Plazo 0 0 0 0 0 0
Amortizaciones Pasivos Largo Plazo 0 0 0 0 0
Intereses Pagados 0 0 0 0 0
Dividendos Pagados 0 -92,774,048 -43,577,976 -39,149,716 -41,261,046
Capital 0 100,000,000 0 0 0 0
Neto Flujo de Caja Financiamiento 0 100,000,000 -92,774,048 -43,577,976 -39,149,716 -41,261,046

Neto Periodo 0 787,414,093 101,856,142 170,043,235 220,486,788 417,476,727

Saldo anterior 0 787,414,093 889,270,235 1,059,313,471 1,279,800,259
Saldo siguiente 0 787,414,093 889,270,235 1,059,313,471 1,279,800,259 1,697,276,986

373599946.xlsx Pgina 5
 MODELAJE FINANCIERO
FLUJO DE CAJA ANUAL
Ao 0 Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Supuestos Macroeconmicos
Variacin Anual IPC 4.00% 3.25% 3.01% 3.02% 3.02%
Devaluacin 8.00% 2.28% 4.55% -2.74% 0.87%
Variacin PIB 5.00% 5.00% 5.00% 5.00% 5.00%
DTF ATA 8.63% 7.94% 7.08% 6.33% 5.59%
Supuestos Operativos
Variacin precios N.A. -48.4% -6.9% 3.6% 25.0%
Variacin Cantidades vendidas N.A. 7.2% 5.4% 5.2% 12.5%
Variacin costos de produccin N.A. -29.4% 7.8% 11.0% 33.0%
Variacin Gastos Administrativos N.A. 46.6% 5.7% 5.9% 16.1%
Rotacin Cartera (das) 30 30 30 30 30
Rotacin Proveedores (das) 30 30 30 30 30
Rotacin inventarios (das) 29 29 29 29 29
Indicadores Financieros Proyectados
Liquidez - Razn Corriente 2.97 5.85 7.41 8.31 7.03
Prueba Acida 3 6 7 8 7
Rotacion cartera (das), 30.00 30.00 30.00 30.00 30.00
Rotacin Inventarios (das) 9.1 11.6 12.7 12.9 12.2
Rotacion Proveedores (das) 29.0 28.1 27.5 27.1 27.3
Nivel de Endeudamiento Total 33.1% 17.8% 13.2% 12.0% 14.3%
Concentracin Corto Plazo 0 1 1 1 1
Ebitda / Gastos Financieros N.A. N.A. N.A. N.A. N.A.
Ebitda / Servicio de Deuda N.A. N.A. N.A. N.A. N.A.
Rentabilidad Operacional 67.3% 57.2% 52.3% 50.6% 53.7%
Rentabilidad Neta 45.1% 38.3% 35.1% 33.9% 36.0%
Rentabilidad Patrimonio 86.1% 31.7% 23.0% 20.1% 23.6%
Rentabilidad del Activo 57.6% 26.1% 20.0% 17.7% 20.2%
Flujo de Caja y Rentabilidad
Flujo de Operacin 938,692,646 148,175,727 274,681,739 319,011,263 522,796,078
Flujo de Inversin 0 -251,278,553 46,454,463 -61,060,527 -59,374,760 -64,058,306
Flujo de Financiacin 0 100,000,000 -92,774,048 -43,577,976 -39,149,716 -41,261,046
Flujo de caja para evaluacin 0 687,414,093 194,630,190 213,621,212 259,636,504 458,737,773
Flujo de caja descontado 0 572,845,078 135,159,854 123,623,386 125,210,505 184,356,422
Criterios de Decisin
Tasa mnima de rendimiento a la que aspira el emprendedor 20%
TIR (Tasa Interna de Retorno) N.A.
VAN (Valor actual neto) 1,141,195,246
PRI (Periodo de recuperacin de la inversin) 0.00
Duracin de la etapa improductiva del negocio ( fase de
6 mes
implementacin).en meses
Nivel de endeudamiento inicial del negocio, teniendo en
N.A.
cuenta los recursos del fondo emprender. ( AFE/AT)
Periodo en el cual se plantea la primera expansin del negocio
6 mes
( Indique el mes )
Periodo en el cual se plantea la segunda expansin del
12 mes
negocio ( Indique el mes )

373599946.xlsx Pgina 6
 MODELAJE FINANCIERO
MODELO ANUAL OBLIGACIONES FINANCIERAS

Ao 0 Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Deuda
DTF T.A. + puntos 18.63% 17.94% 17.08% 16.33% 15.59%
DTF EA 21.02% 20.15% 19.08% 18.14% 17.24%
Nueva Deuda Final ao 0 0 0 0 0 0

Saldo Deuda Final

0 Obligacin 0 0 0 0 0 0 0
1 Obligacin 1 0 0 0 0 0 0
2 Obligacin 2 0 0 0 0 0 0
3 Obligacin 3 0 0 0 0 0 0
4 Obligacin 4 0 0 0 0 0 0
5 Obligacin 5 0 0 0 0 0 0
Total Saldo Deuda 0 0 0 0 0 0
Amortizacin Deuda
0 Obligacin 0 0 0 0 0 0 0
1 Obligacin 1 0 0 0 0 0 0
2 Obligacin 2 0 0 0 0 0 0
3 Obligacin 3 0 0 0 0 0 0
4 Obligacin 4 0 0 0 0 0 0
5 Obligacin 5 0 0 0 0 0 0
Total Amortizacin 0 0 0 0 0 0
Total Intereses
0 Obligacin 0 0 0 0 0 0 0
1 Obligacin 1 0 0 0 0 0 0
2 Obligacin 2 0 0 0 0 0 0
3 Obligacin 3 0 0 0 0 0 0
4 Obligacin 4 0 0 0 0 0 0
5 Obligacin 5 0 0 0 0 0 0
Total Intereses 0 0 0 0 0 0

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 MODELAJE FINANCIERO
MODELO ANAUAL INVERSIONES

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Inversiones al inicio del perodo
PAGG 0% 0% 0% 0% 0%
Terrenos 0 18,000,000 0 0 0
Axi
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 18,000,000 18,000,000 18,000,000 18,000,000
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Inversiones Ajustadas 0 18,000,000 18,000,000 18,000,000 18,000,000

373599946.xlsx Pgina 8
 MODELAJE FINANCIERO
MODELO ANAUAL INVERSIONES

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Inversiones al inicio del perodo
Construcciones 0 12,000,000 0 0 25,000,000
Axi
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 12,000,000 12,000,000 12,000,000 12,000,000
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 25,000,000
Total Inversiones Ajustadas 0 12,000,000 12,000,000 12,000,000 37,000,000
Depreciacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 600,000 600,000 600,000 600,000
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 1,250,000
Total Depreciacin perodo 0 600,000 600,000 600,000 1,850,000
Axi Depreciacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi Depreciacin 0 0 0 0 0
Depreciacin Acumulada
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 600,000 1,200,000 1,800,000 2,400,000
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 1,250,000
Total Depreciacin Acumulada 0 600,000 1,200,000 1,800,000 3,650,000

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 MODELAJE FINANCIERO
MODELO ANAUAL INVERSIONES

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Inversiones al inicio del perodo
Maquinaria y Equipo 5,600,000 3,500,000 1,000,000 0 1,500,000
Axi
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
1 Inversin 1 5,600,000 5,600,000 5,600,000 5,600,000 5,600,000
2 Inversin 2 0 3,500,000 3,500,000 3,500,000 3,500,000
3 Inversin 3 0 0 1,000,000 1,000,000 1,000,000
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 1,500,000
Total Inversiones Ajustadas 5,600,000 9,100,000 10,100,000 10,100,000 11,600,000
Depreciacin
1 Inversin 1 560,000 560,000 560,000 560,000 560,000
2 Inversin 2 0 350,000 350,000 350,000 350,000
3 Inversin 3 0 0 100,000 100,000 100,000
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 150,000
Total Depreciacin perodo 560,000 910,000 1,010,000 1,010,000 1,160,000
Axi Depreciacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi Depreciacin 0 0 0 0 0
Depreciacin Acumulada
1 Inversin 1 560,000 1,120,000 1,680,000 2,240,000 2,800,000
2 Inversin 2 0 350,000 700,000 1,050,000 1,400,000
3 Inversin 3 0 0 100,000 200,000 300,000
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 150,000
Total Depreciacin Acumulada 560,000 1,470,000 2,480,000 3,490,000 4,650,000

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 MODELAJE FINANCIERO
MODELO ANAUAL INVERSIONES

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Inversiones al inicio del perodo
Muebles 3,800,000 1,200,000 1,000,000 1,200,000 2,000,000
Axi
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
1 Inversin 1 3,800,000 3,800,000 3,800,000 3,800,000 3,800,000
2 Inversin 2 0 1,200,000 1,200,000 1,200,000 1,200,000
3 Inversin 3 0 0 1,000,000 1,000,000 1,000,000
4 Inversin 4 0 0 0 1,200,000 1,200,000
5 Inversin 5 0 0 0 0 2,000,000
Total Inversiones Ajustadas 3,800,000 5,000,000 6,000,000 7,200,000 9,200,000
Depreciacin
1 Inversin 1 760,000 760,000 760,000 760,000 760,000
2 Inversin 2 0 240,000 240,000 240,000 240,000
3 Inversin 3 0 0 200,000 200,000 200,000
4 Inversin 4 0 0 0 240,000 240,000
5 Inversin 5 0 0 0 0 400,000
Total Depreciacin perodo 760,000 1,000,000 1,200,000 1,440,000 1,840,000
Axi Depreciacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi Depreciacin 0 0 0 0 0
Depreciacin Acumulada
1 Inversin 1 760,000 1,520,000 2,280,000 3,040,000 3,800,000
2 Inversin 2 0 240,000 480,000 720,000 960,000
3 Inversin 3 0 0 200,000 400,000 600,000
4 Inversin 4 0 0 0 240,000 480,000
5 Inversin 5 0 0 0 0 400,000
Total Depreciacin Acumulada 760,000 1,760,000 2,960,000 4,400,000 6,240,000

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MODELO ANAUAL INVERSIONES

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Inversiones al inicio del perodo
Transporte 12,000,000 0 15,000,000 0 0
Axi
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
1 Inversin 1 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 15,000,000 15,000,000 15,000,000
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Inversiones Ajustadas 12,000,000 12,000,000 27,000,000 27,000,000 27,000,000
Depreciacin
1 Inversin 1 2,400,000 2,400,000 2,400,000 2,400,000 2,400,000
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 3,000,000 3,000,000 3,000,000
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Depreciacin perodo 2,400,000 2,400,000 5,400,000 5,400,000 5,400,000
Axi Depreciacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi Depreciacin 0 0 0 0 0
Depreciacin Acumulada
1 Inversin 1 2,400,000 4,800,000 7,200,000 9,600,000 12,000,000
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 3,000,000 6,000,000 9,000,000
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Depreciacin Acumulada 2,400,000 4,800,000 10,200,000 15,600,000 21,000,000

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MODELO ANAUAL INVERSIONES

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Inversiones al inicio del perodo
Oficina 3,000,000 1,800,000 1,200,000 1,000,000 2,600,000
Axi
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
1 Inversin 1 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000
2 Inversin 2 0 1,800,000 1,800,000 1,800,000 1,800,000
3 Inversin 3 0 0 1,200,000 1,200,000 1,200,000
4 Inversin 4 0 0 0 1,000,000 1,000,000
5 Inversin 5 0 0 0 0 2,600,000
Total Inversiones Ajustadas 3,000,000 4,800,000 6,000,000 7,000,000 9,600,000
Depreciacin
1 Inversin 1 1,000,000 1,000,000 1,000,000 0 0
2 Inversin 2 0 600,000 600,000 600,000 0
3 Inversin 3 0 0 400,000 400,000 400,000
4 Inversin 4 0 0 0 333,333 333,333
5 Inversin 5 0 0 0 0 866,667
Total Depreciacin perodo 1,000,000 1,600,000 2,000,000 1,333,333 1,600,000
Axi Depreciacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi Depreciacin 0 0 0 0 0
Depreciacin Acumulada
1 Inversin 1 1,000,000 2,000,000 3,000,000 3,000,000 3,000,000
2 Inversin 2 0 600,000 1,200,000 1,800,000 1,800,000
3 Inversin 3 0 0 400,000 800,000 1,200,000
4 Inversin 4 0 0 0 333,333 666,667
5 Inversin 5 0 0 0 0 866,667
Total Depreciacin Acumulada 1,000,000 2,600,000 4,600,000 5,933,333 7,533,333

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MODELO ANAUAL INVERSIONES

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Inversiones al inicio del perodo
Semovientes 0 0 0 0 0
Axi
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Inversiones Ajustadas 0 0 0 0 0
Amortizacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Amortizacin perodo 0 0 0 0 0
Axi Amortizacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi Amortizacin 0 0 0 0 0
Amortizacin Acumulada
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Amortizacin Acumulada 0 0 0 0 0

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MODELO ANAUAL INVERSIONES

Ao 1 Ao 2 Ao 3 Ao 4 Ao 5
Inversiones al inicio del perodo
Permanentes 0 0 0 0 0
Axi
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Inversiones Ajustadas 0 0 0 0 0
Amortizacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Amortizacin perodo 0 0 0 0 0
Axi Amortizacin
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi Amortizacin 0 0 0 0 0
Amortizacin Acumulada
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Amortizacin Acumulada 0 0 0 0 0

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MODELO ANAUAL INVERSIONES
Ao 0 Ao 1 Ao 2 Ao 3 Ao 4
Gastos durante el perodo
Permanentes 0 48,526,300 17,452,013 24,152,100 45,698,541
Axi
0 Inversin 0 0 0 0 0 0
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi 0 0 0 0 0
Inversin Ajustada
0 Inversin 0 0 0 0 0 0
1 Inversin 1 0 48,526,300 48,526,300 48,526,300 48,526,300
2 Inversin 2 0 0 17,452,013 17,452,013 17,452,013
3 Inversin 3 0 0 0 24,152,100 24,152,100
4 Inversin 4 0 0 0 0 45,698,541
5 Inversin 5 0 0 0 0 0
Total Inversiones Ajustadas 0 48,526,300 65,978,313 90,130,413 135,828,954
Amortizacin
0 Inversin 0 0 0 0 0 0
1 Inversin 1 0 9,705,260 9,705,260 9,705,260 9,705,260
2 Inversin 2 0 0 3,490,403 3,490,403 3,490,403
3 Inversin 3 0 0 0 4,830,420 4,830,420
4 Inversin 4 0 0 0 0 9,139,708
5 Inversin 5 0 0 0 0 0
Total Amortizacin perodo 0 9,705,260 13,195,663 18,026,083 27,165,791
Axi Amortizacin
0 Inversin 0 0 0 0 0 0
1 Inversin 1 0 0 0 0 0
2 Inversin 2 0 0 0 0 0
3 Inversin 3 0 0 0 0 0
4 Inversin 4 0 0 0 0 0
5 Inversin 5 0 0 0 0 0
Total Axi Amortizacin 0 0 0 0 0
Amortizacin Acumulada
0 Inversin 0 0 0 0 0 0
1 Inversin 1 0 9,705,260 19,410,520 29,115,780 38,821,040
2 Inversin 2 0 0 3,490,403 6,980,805 10,471,208
3 Inversin 3 0 0 0 4,830,420 9,660,840
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 MODELAJE FINANCIERO
MODELO ANAUAL INVERSIONES

4 Inversin 4 0 0 0 0 9,139,708
5 Inversin 5 0 0 0 0 0
Total Amortizacin Acumulada 0 9,705,260 22,900,923 40,927,005 68,092,796

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 MODELAJE FINANCIERO
MODELO ANAUAL INVERSIONES
Ao 5

32,564,120

0
0
0
0
0
0
0

0
48,526,300
17,452,013
24,152,100
45,698,541
32,564,120
168,393,074

0
9,705,260
3,490,403
4,830,420
9,139,708
6,512,824
33,678,615

0
0
0
0
0
0
0

0
48,526,300
13,961,610
14,491,260
373599946.xlsx Pgina 18
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MODELO ANAUAL INVERSIONES

18,279,416
6,512,824
101,771,411

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