MIRA
INFORM REPORT
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Report Date : |
24.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
RARE EARTHS & MINERALS |
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Registered Office : |
Avenue Nouvelle 12,
1331 Rosieres Be |
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Country : |
Belgium
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
30.12.1987 |
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Com. Reg. No.: |
89498 |
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Legal Form : |
Private
Company Limited By Shares |
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Line of Business : |
Wholesale
of metals and metal ores. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
108500
EUR |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
RARE EARTHS & MINERALS
address
AVENUE NOUVELLE 12
1331 ROSIERES BE
Tel. Number +32-2-6521789
Fax number +32-2-6520954
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Business founded |
30
December 1987 |
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Business registered |
15
February 1988 - Private company limited by shares |
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Business last updated |
31
December 2005 |
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Registration number, |
89498,
NIVELLES, |
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Alternative Trade Name(s), |
SOGARE,
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Value Added Tax number, |
BE433087281,
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Judicial form |
Private
company limited by shares |
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Activities |
Wholesale
of metals and metal ores |
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Payment experience |
Payment
regular |
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Credit opinion |
High
creditworthiness |
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Maximum
credit limit 108500 EUR is advised |
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Cash
situation (balance sheet analysis) : Very good |
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Profitability
(balance sheet analysis) : Very good |
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Commitments
(regarding contractual obligations) : Fulfilled („respectés“) |
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Payment
defaults : None |
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Employees (Business) |
1 |
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Total share capital31 December 2005 |
EUR 600000,00 |
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Branch office(s) |
AVENUE
DES EAUX VIVES 4,1332 GENVAL |
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Bank |
ING |
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Board-members |
WILLEMART
VINCENT JOSEPH ANTOINE OCTAVE MARIE Deputy boardmember |
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RAEMDONCK
MARIE CHRISTINE Boardmember |
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WILLEMART
STEPHANE Boardmember |
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Management |
WILLEMART
VINCENT JOSEPH ANTOINE OCTAVE MARIE Partner |
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Auditor |
ARCELIN
GEORGES Auditors´ president |
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The
business owns or partly owns one or more pieces of land and
buildings? Yes(Property) |
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PER,
period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December
2005 in EUR 6.967.000,00 |
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Not
consolidated profit and loss turnover of the business: |
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PER,
period that the financial account covers for not consolidated balance
sheet.: 00 0000 - 31 December 2005 in EUR |
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Total
assets incl. prepaid expenses and accrued income |
3.768.000,- |
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Total
fixed assets |
1.005.000,- |
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Total
intangible fixed assets |
614.000,- |
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Concessions
and industrial rights, goodwill |
614.000,- |
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Total
tangible fixed assets |
370.000,- |
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Land
and buildings |
323.000,- |
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Total
financial fixed assets |
21.000,- |
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Investments
(long-term) |
21.000,- |
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Total
Current assets |
2.763.000,- |
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Inventories
and work in progress (incl. prepayments) |
788.000,- |
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Accounts
receivable (trade) |
1.284.000,- |
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Investments
(short-term) |
600.000,- |
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Cash
in hand and at bank |
81.000,- |
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Total
accrued income and prepaid expenses |
10.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
3.768.000,- |
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Total
equity (Shareholders' funds) |
2.316.000,- |
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Issued
(subscribed) capital |
600.000,- |
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Profit
reserves |
1.655.000,- |
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Legal
reserves |
60.000,- |
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Profit
or loss carried forward |
1.000,- |
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Total
liabilities |
1.452.000,- |
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Total
current liabilities |
1.443.000,- |
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Current
accounts payable (trade) |
1.020.000,- |
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Current
liabilities to credit institutions |
131.000,- |
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Income
and social tax liabilities |
50.000,- |
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Total
accrued expenses and deferred income |
9.000,- |
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PER,
period that the financial account covers for not consolidated profit and loss
account.: 00 0000 - 31 December 2005 in EUR |
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Total
operating income/revenue |
6.968.000,- |
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Main
revenue (sales/turnover) |
6.967.000,- |
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Total
operating expenses |
-6.603.000,- |
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Cost
of materials (type of expenditure format) |
6.065.000,- |
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Cost
of goods sold (operational format) |
6.603.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
365.000,- |
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Personnel
costs |
86.000,- |
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Depreciation |
261.000,- |
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Operating
profit or loss |
365.000,- |
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Financial
income |
29.000,- |
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Financial
expenses |
-61.000,- |
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Result
of ordinary operations |
333.000,- |
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Extraordinary
income |
16.000,- |
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Extraordinary
result |
349.000,- |
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Taxes |
-117.000,- |
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Net
profit or loss |
232.000,- |
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Borrowing
ratio |
85,31 % |
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Current
ratio |
190,28 % |
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Profit
margin. |
8,61 % |
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Quick
ratio |
136,17 % |
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Return
on assets |
16,74 % |
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Return
on equity. |
10,01 % |
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Solidity
or equity ratio |
61,46 % |
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PER,
period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December
2004 in EUR 6.139.000,00 |
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Not
consolidated profit and loss turnover of the business: |
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PER,
period that the financial account covers for not consolidated balance
sheet.: 00 0000 - 31 December 2004 in EUR |
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Total
assets incl. prepaid expenses and accrued income |
5.135.000,- |
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Total
fixed assets |
1.237.000,- |
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Total
intangible fixed assets |
825.000,- |
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Concessions
and industrial rights, goodwill |
825.000,- |
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Total
tangible fixed assets |
403.000,- |
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Land
and buildings |
346.000,- |
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Total
financial fixed assets |
9.000,- |
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Investments
(long-term) |
9.000,- |
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Total
Current assets |
3.898.000,- |
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Inventories
and work in progress (incl. prepayments) |
826.000,- |
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Accounts
receivable (trade) |
1.108.000,- |
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Investments
(short-term) |
1.846.000,- |
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Cash
in hand and at bank |
115.000,- |
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Total
accrued income and prepaid expenses |
3.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
5.134.000,- |
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Total
equity (Shareholders' funds) |
2.084.000,- |
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Issued
(subscribed) capital |
600.000,- |
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Profit
reserves |
1.424.000,- |
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Legal
reserves |
60.000,- |
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Total
liabilities |
3.050.000,- |
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Total
current liabilities |
3.041.000,- |
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Current
accounts payable (trade) |
1.207.000,- |
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Current
liabilities to credit institutions |
761.000,- |
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Income
and social tax liabilities |
43.000,- |
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Total
accrued expenses and deferred income |
9.000,- |
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PER,
period that the financial account covers for not consolidated profit and loss
account.: 00 0000 - 31 December 2004 in EUR |
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Total
operating income/revenue |
6.140.000,- |
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Main
revenue (sales/turnover) |
6.139.000,- |
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Total
operating expenses |
-5.856.000,- |
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Cost
of materials (type of expenditure format) |
5.290.000,- |
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Cost
of goods sold (operational format) |
5.856.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
284.000,- |
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Personnel
costs |
81.000,- |
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Depreciation |
254.000,- |
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Operating
profit or loss |
284.000,- |
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Financial
income |
163.000,- |
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Financial
expenses |
-68.000,- |
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Result
of ordinary operations |
379.000,- |
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Extraordinary
income |
1.000,- |
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Extraordinary
result |
380.000,- |
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Taxes |
-134.000,- |
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Net
profit or loss |
246.000,- |
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Borrowing
ratio |
242,26 % |
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Current
ratio |
127,80 % |
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Profit
margin. |
8,66 % |
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Quick
ratio |
100,92 % |
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Return
on assets |
13,12 % |
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Return
on equity. |
11,80 % |
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Solidity
or equity ratio |
40,59 % |
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PER,
period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December
2003 in EUR 5.250.000,00 |
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Not
consolidated profit and loss turnover of the business: |
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PER,
period that the financial account covers for not consolidated balance
sheet.: 00 0000 - 31 December 2003 in EUR |
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Total
assets incl. prepaid expenses and accrued income |
4.302.000,- |
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Total
fixed assets |
1.450.000,- |
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Total
intangible fixed assets |
1.036.000,- |
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Concessions
and industrial rights, goodwill |
1.036.000,- |
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Total
tangible fixed assets |
408.000,- |
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Land
and buildings |
368.000,- |
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Total
financial fixed assets |
6.000,- |
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Investments
(long-term) |
6.000,- |
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Total
Current assets |
2.852.000,- |
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Inventories
and work in progress (incl. prepayments) |
1.054.000,- |
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Accounts
receivable (trade) |
712.000,- |
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Investments
(short-term) |
974.000,- |
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Cash
in hand and at bank |
101.000,- |
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Total
accrued income and prepaid expenses |
11.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
4.302.000,- |
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Total
equity (Shareholders' funds) |
2.541.000,- |
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Issued
(subscribed) capital |
585.000,- |
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Share
premium account (capital reserve) |
451.000,- |
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Profit
reserves |
1.424.000,- |
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Legal
reserves |
59.000,- |
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Profit
or loss carried forward |
22.000,- |
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Total
liabilities |
1.761.000,- |
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Total
current liabilities |
1.752.000,- |
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Current
accounts payable (trade) |
717.000,- |
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Current
liabilities to credit institutions |
394.000,- |
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Income
and social tax liabilities |
48.000,- |
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Total
accrued expenses and deferred income |
9.000,- |
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PER,
period that the financial account covers for not consolidated profit and loss
account.: 00 0000 - 31 December 2003 in EUR |
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Total
operating income/revenue |
5.251.000,- |
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Main
revenue (sales/turnover) |
5.250.000,- |
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Total
operating expenses |
-5.132.000,- |
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Cost
of materials (type of expenditure format) |
4.721.000,- |
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Cost
of goods sold (operational format) |
5.132.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
119.000,- |
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Personnel
costs |
68.000,- |
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Depreciation |
252.000,- |
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Operating
profit or loss |
119.000,- |
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Financial
income |
188.000,- |
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Financial
expenses |
-64.000,- |
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Result
of ordinary operations |
243.000,- |
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Extraordinary
income |
1.000,- |
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Extraordinary
result |
244.000,- |
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Taxes |
-78.000,- |
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Net
profit or loss |
166.000,- |
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Borrowing
ratio |
117,01 % |
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Current
ratio |
161,95 % |
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Profit
margin. |
5,69 % |
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Quick
ratio |
101,99 % |
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Return
on assets |
11,18 % |
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Return
on equity. |
6,53 % |
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Solidity
or equity ratio |
59,06 % |
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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