I$1)$ If you had to analyze the non$-$consolidated accounts of a holding company of several industrial participations, which profit level would you focus on$?$ What are the important items on the income statement? Are the consolidated accounts of this holding company interesting?

$2)$ The industrial group HEEMS shows a net result, $80\%$ of which is from extraordinary income. State your views.

$3)$ The industrial group VAN DAM shows a net result, $80\%$ of which is from its financial income. State your views.

$4)$ Why can a direct link not be drawn between an increase in production costs and the corresponding drop in profits?

$5)$ What steps can be taken to help offset the impact of a negative scissors effect?