MIRA
INFORM REPORT
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Report Date : |
28.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Solvin Sa |
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Registered Office : |
Rue De Ransbeek 310, 1120 Bruxelles |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
11/06/1999 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
The (international) trade of chemical and
plastic products. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Average 20 days beyond terms |
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Litigation : |
Clear |
name & address
Solvin Sa
Rue De Ransbeek
310
1120 BRUXELLES
Tel.:+32
(0)2-264111
Fax.:+32
(0)2-2642061
Legal status
NV Public limited company [nat. law]
Founded
11/06/1999, P.l.c. since 31/07/1999
Trade register
54634159
Capital
nominal EUR 15.275.000,--
issued and paid up EUR 15.275.000,--
Management
VANDERWIELEN Bruno, Avenue de Boulogne
Billancourt 7A, 1330 Rixensart
TUCOULAT Pierre, 1050 Elsene, Rue de L ' Automne 62
DELMORTIEZ Jacques, 7060 Soignies, Chemin de Saint-Landry
Activity
The (international) trade of chemical and
plastic products.
Branch[es]:
-Rue Solvay 39,
5190 JEMEPPE-SUR-SAMBRE
-Scheldelaan 600,
2040 ANVERS
Staff
200 employees
Turnover
Net
turnover:
2006 Euro 532.557.988
2005 Euro 477.904.011
2004 Euro 473.512.998
Real estate
The business premises at the mentioned address has been rented by the company, as far as we know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 3.509.007
2005 Euro 7.110.999
2004 Euro 12.495.990
The shareholders equity was as of:
31/12/2006 Euro 39.120.003
31/12/2005 Euro 23.827.997
31/12/2004 Euro 23.824.997
The working capital was
as of:
31/12/2006 Euro 24.504.994
31/12/2005 Euro 37.478.997
31/12/2004 Euro 50.108.998
Banks
ING Bank
Fortis Bank
VAT-nr.
BE466279394
Mode of payment
On average 20 days beyond terms.
Credit demand
No objections against entering into a business relationship.
The following
financial data is retrieved from the corporate balance sheet of :
Solvin Sa
Rue De Ransbeek
310, 1120 BRUXELLES
Trade register 54634159
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Solvin
Sa ***
BALANCE SHEET ***
Corporate
in Euro(x 1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible
assets 31.011 26.004
Tangible
assets 14.136.996 31.324.991
Financial
assets 0 0
Miscellaneous
fixed assets 0 0
Total fixed assets 14.168.007 31.350.995
Stock 23.012.997 17.296.994
Receivables 112.432.009 85.919.003
Shares 4.092.995 98.314.002
Liquid
assets 0 14.006
Miscellaneous
current assets 0 0
Total current assets 139.538.001 201.544.005
Shareholders equity 23.827.997 39.120.003
Provisions 4.819.001 5.736.008
Long-term
liabilities 23.000.007 11.000.002
Current
liabilities 102.059.004 177.039.011
Minority
interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 148.887.008 227.160.008
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Solvin
Sa ***
PROFIT & LOSS ACCOUNT ***
Corporate
in Euro(x 1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 477.904.011 532.557.988
Other
income 1.259.002 1.682.999
Total
expenses 456.327.011 487.628.006
Operating
profit 14.421.999 10.544.994
Balance
financial P/L -3.374.005 -4.772.000
Net
profit/loss 1] 11.047.995 5.772.994
Taxation 3.936.995 2.256.996
Share
in P/L of subsidiaries 0 0
Net
profit/loss 2] 7.111.000 3.515.998
Balance
extraordinary P/L 0 -6.991
Taxation 0 0
Extraordinary
P/L 2] 0 -6.991
Res.
sub. companies 2] 0 0
Minority
interests 0 0
Miscellaneous
P/L 0 0
Net
result 7.110.999 3.509.007
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Legend
: 1] = Before tax
2] = After tax
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Solvin
Sa *** FINANCIAL RATIOS ***
-----2005----- -----2006-----
EQUITY %
Equity
gearing 15,5 16,8
Equity/outside
capital 18,3 20,2
LIQUIDITY
Current
ratio 1,4 1,1
Acid
test 1,1 1
RATES
OF RETURN %
Total
assets 7,2 2,5
Shareholders equity 46,4 14,8
Pre
tax margin % 2,3 1,1
Turnover
rate 310,9 228,7
(x 1) (x 1)
------------------ - --------------------
Working
capital 37.478.997 24.504.994
Shareholders equity + Equalization acc. 23.827.997 39.120.003
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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. |
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)