MIRA INFORM REPORT

 

 

Report Date :

09.01.2007

 

IDENTIFICATION DETAILS

 

Name :

BRILLIANT STAR

 

 

Registered Office :

Hoveniersstraat 2 B.242, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

26 October 1999

 

 

Com. Reg. No.:

336800

 

 

Legal Form :

Private Company with limited liability

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

69000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

BRILLIANT STAR

HOVENIERSSTRAAT 2 B.242

2018 ANTWERPEN BE

Tel. Number       +32-3-2265486

 

 

Business founded

26 October 1999

Business registered

08 December 1999 - Private company with limited liability

Business last updated

31 December 2005

Registration number,

336800, ANTWERPEN,

Value Added Tax number,

BE467219702,

Judicial form

Private company with limited lability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 69000 EUR is advised

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Medium 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Total share capital31 December 2005

EUR 18600,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

DUGAR ANAND KUMAR    Manager

 

SCHWALB MARCUS    Manager

Management

DUGAR ANAND KUMAR    Partner

 

SCHWALB MARCUS    Partner

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2005  in EUR 34.824.831,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 – 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

10.244.526,-

Total fixed assets

120.818,-

Total intangible fixed assets

2.479,-

Total tangible fixed assets

116.852,-

Land and buildings

102.534,-

Plant, machinery and equipment

692,-

Total financial fixed assets

1.487,-

Total Current assets

10.123.708,-

Inventories and work in progress (incl. prepayments)

4.739.565,-

Accounts receivable (trade)

5.337.020,-

Cash in hand and at bank

44.271,-

Total accrued income and prepaid expenses

2.852,-

Total equity, provisions, liabilities, accrued expenses and deferred income

10.244.526,-

Total equity (Shareholders' funds)

148.898,-

Issued (subscribed) capital

18.600,-

Profit reserves

128.438,-

Legal reserves

1.860,-

Total liabilities

10.095.628,-

Total long-term liabilities

807.183,-

Long-term Loans, Mortgage debts

807.183,-

Total current liabilities

9.287.946,-

Current accounts payable (trade)

5.913.613,-

Current liabilities to credit institutions

3.344.142,-

Income and social tax liabilities

30.191,-

Total accrued expenses and deferred income

499,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2005  in  EUR 

Main revenue (sales/turnover)

34.824.831,-

Cost of goods sold (operational format)

34.144.458,-

Depreciation

7.682,-

Operating profit or loss

680.373,-

Financial income

2.512.012,-

Financial expenses

-3.127.171,-

Result of ordinary operations

65.214,-

Extraordinary result

65.214,-

Taxes

-24.325,-

Net profit or loss

40.889,-

Borrowing ratio

6895,03 %

Current ratio

108,99 %

Debt gearing

551,28 %

Profit margin.

1,97 %

Quick ratio

57,93 %

Return on assets

31,23 %

Return on equity.

27,46 %

Solidity or equity ratio

1,45 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 5.385.993,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.747.099,-

Total fixed assets

128.499,-

Total intangible fixed assets

2.479,-

Total tangible fixed assets

124.533,-

Land and buildings

105.232,-

Plant, machinery and equipment

876,-

Total financial fixed assets

1.487,-

Total Current assets

1.618.600,-

Inventories and work in progress (incl. prepayments)

278.662,-

Accounts receivable (trade)

965.049,-

Cash in hand and at bank

374.889,-

Total equity, provisions, liabilities, accrued expenses and deferred income

1.747.099,-

Total equity (Shareholders' funds)

108.009,-

Issued (subscribed) capital

18.600,-

Profit reserves

87.549,-

Legal reserves

1.860,-

Total liabilities

1.639.090,-

Total long-term liabilities

475.988,-

Long-term Loans, Mortgage debts

405.429,-

Total current liabilities

1.162.838,-

Current accounts payable (trade)

1.146.302,-

Income and social tax liabilities

13.591,-

Total accrued expenses and deferred income

264,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2004  in  EUR 

Main revenue (sales/turnover)

5.385.993,-

Cost of goods sold (operational format)

5.326.657,-

Depreciation

7.595,-

Operating profit or loss

59.336,-

Financial income

402.286,-

Financial expenses

-445.063,-

Result of ordinary operations

16.559,-

Extraordinary result

16.559,-

Taxes

-1.122,-

Net profit or loss

15.437,-

Borrowing ratio

1553,20 %

Current ratio

139,16 %

Debt gearing

451,05 %

Profit margin.

1,24 %

Quick ratio

115,22 %

Return on assets

26,85 %

Return on equity.

14,29 %

Solidity or equity ratio

6,18 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 10.359.052,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.566.488,-

Total fixed assets

135.171,-

Total intangible fixed assets

2.479,-

Total tangible fixed assets

131.205,-

Land and buildings

107.931,-

Total financial fixed assets

1.487,-

Total Current assets

1.431.317,-

Inventories and work in progress (incl. prepayments)

585.747,-

Accounts receivable (trade)

829.312,-

Cash in hand and at bank

14.527,-

Total accrued income and prepaid expenses

1.731,-

Total equity, provisions, liabilities, accrued expenses and deferred income

1.566.488,-

Total equity (Shareholders' funds)

92.572,-

Issued (subscribed) capital

18.592,-

Profit reserves

72.121,-

Legal reserves

1.859,-

Total liabilities

1.473.916,-

Total long-term liabilities

824.133,-

Long-term Loans, Mortgage debts

750.629,-

Total current liabilities

649.526,-

Current accounts payable (trade)

347.274,-

Current liabilities to credit institutions

278.331,-

Income and social tax liabilities

21.141,-

Total accrued expenses and deferred income

257,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2003  in  EUR 

Main revenue (sales/turnover)

10.359.052,-

Cost of goods sold (operational format)

10.388.875,-

Depreciation

3.165,-

Operating profit or loss

-29.823,-

Financial income

1.179.396,-

Financial expenses

-1.121.542,-

Result of ordinary operations

28.031,-

Extraordinary result

28.031,-

Taxes

-12.265,-

Net profit or loss

15.766,-

Borrowing ratio

1635,99 %

Current ratio

220,27 %

Debt gearing

914,76 %

Profit margin.

-0,25 %

Quick ratio

129,91 %

Return on assets

73,58 %

Return on equity.

17,03 %

Solidity or equity ratio

5,90 %

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions