MIRA INFORM REPORT

 

 

Report Date :

10.01.2007

 

IDENTIFICATION DETAILS

 

Name :

BENELUX DIAMONDS

 

 

Registered Office :

Pelikaanstraat 62, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

27 February 1958

 

 

Com. Reg. No.:

142217

 

 

Legal Form :

Private Company Limited By Shares

 

 

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 :

46500 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

NAME & address

 

BENELUX DIAMONDS

PELIKAANSTRAAT 62

2018 ANTWERPEN BE

Tel. Number       +32-3-2338274

Fax number       +32-3-2326033

 

Business founded

27 February 1958

Business registered

01 February 1958 - Private company limited by shares

Business last updated

31 December 2005

Registration number,

142217, ANTWERPEN,

Value Added Tax number,

BE403762597,

Judicial form

Private company limited by shares

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 46500 EUR is advised

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 22

Total share capital31 December 2005

EUR 1000000,00

Boardmembers

SCHATZ BERT    Chairman and managing director

 

SCHATZ ROELAND NUBAR PEPE    Deputy boardmember

Management

FRANCOIS PHILIPPE    Representative and auditor

Auditor

WESTEN, FRANCOIS & CO, BEDRIJFSREVISOREN    Auditors´ president

 

 

 

 

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 10.912.000,00

 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

7.432.000,-

Total fixed assets

470.000,-

Total tangible fixed assets

456.000,-

Land and buildings

280.000,-

Plant, machinery and equipment

166.000,-

Total financial fixed assets

14.000,-

Investments (long-term)

14.000,-

Total Current assets

6.962.000,-

Inventories and work in progress (incl. prepayments)

3.737.000,-

Accounts receivable (trade)

2.720.000,-

Cash in hand and at bank

434.000,-

Total accrued income and prepaid expenses

71.000,-

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

7.432.000,-

Total equity (Shareholders' funds)

1.072.000,-

Issued (subscribed) capital

2.000.000,-

Profit reserves

58.000,-

Statutory reserves

4.000,-

Legal reserves

10.000,-

Total liabilities

6.360.000,-

Total current liabilities

6.360.000,-

Current accounts payable (trade)

2.949.000,-

Current liabilities to credit institutions

838.000,-

Income and social tax liabilities

127.000,-

 

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

Total operating income/revenue

10.925.000,-

Main revenue (sales/turnover)

10.912.000,-

Total operating expenses

-9.605.000,-

Cost of materials (type of expenditure format)

7.915.000,-

Cost of goods sold (operational format)

9.605.000,-

Gross profit or loss after cost of materials or after cost of goods sold

1.320.000,-

Personnel costs

658.000,-

Depreciation

76.000,-

Operating profit or loss

1.320.000,-

Financial income

633.000,-

Financial expenses

-1.884.000,-

Result of ordinary operations

69.000,-

Extraordinary result

69.000,-

Taxes

-21.000,-

Net profit or loss

48.000,-

Borrowing ratio

593,28 %

Current ratio

109,46 %

Profit margin.

12,77 %

Quick ratio

49,59 %

Return on assets

2,23 %

Return on equity.

4,47 %

Solidity or equity ratio

14,42 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 17.678.000,00

 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

9.925.000,-

Total fixed assets

203.000,-

Total tangible fixed assets

193.000,-

Land and buildings

12.000,-

Plant, machinery and equipment

165.000,-

Total financial fixed assets

10.000,-

Investments (long-term)

10.000,-

Total Current assets

9.722.000,-

Inventories and work in progress (incl. prepayments)

6.019.000,-

Accounts receivable (trade)

3.072.000,-

Cash in hand and at bank

542.000,-

Total accrued income and prepaid expenses

89.000,-

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

9.925.000,-

Total equity (Shareholders' funds)

1.024.000,-

Issued (subscribed) capital

2.000.000,-

Profit reserves

43.000,-

Statutory reserves

4.000,-

Legal reserves

9.000,-

Profit or loss carried forward

-32.000,-

Total liabilities

8.901.000,-

Total current liabilities

8.901.000,-

Current accounts payable (trade)

6.283.000,-

Current liabilities to credit institutions

182.000,-

Income and social tax liabilities

131.000,-

 

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

Total operating income/revenue

17.683.000,-

Main revenue (sales/turnover)

17.678.000,-

Total operating expenses

-18.037.000,-

Cost of materials (type of expenditure format)

16.449.000,-

Cost of goods sold (operational format)

18.037.000,-

Gross profit or loss after cost of materials or after cost of goods sold

-354.000,-

Personnel costs

629.000,-

Depreciation

62.000,-

Operating profit or loss

-354.000,-

Financial income

2.222.000,-

Financial expenses

-1.899.000,-

Result of ordinary operations

-31.000,-

Extraordinary result

-31.000,-

Taxes

-1.000,-

Net profit or loss

-32.000,-

Borrowing ratio

869,24 %

Current ratio

109,22 %

Profit margin.

-1,11 %

Quick ratio

40,60 %

Return on assets

1,53 %

Return on equity.

-3,12 %

Solidity or equity ratio

10,31 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 9.610.000,00

 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

10.717.000,-

Total fixed assets

167.000,-

Total tangible fixed assets

156.000,-

Land and buildings

13.000,-

Plant, machinery and equipment

123.000,-

Total financial fixed assets

11.000,-

Investments (long-term)

11.000,-

Total Current assets

10.550.000,-

Inventories and work in progress (incl. prepayments)

6.144.000,-

Accounts receivable (trade)

3.294.000,-

Cash in hand and at bank

1.071.000,-

Total accrued income and prepaid expenses

41.000,-

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

10.717.000,-

Total equity (Shareholders' funds)

1.056.000,-

Issued (subscribed) capital

2.000.000,-

Profit reserves

43.000,-

Statutory reserves

4.000,-

Legal reserves

9.000,-

Total liabilities

9.661.000,-

Total current liabilities

9.661.000,-

Current accounts payable (trade)

6.491.000,-

Current liabilities to credit institutions

660.000,-

Income and social tax liabilities

133.000,-

 

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

Total operating income/revenue

9.619.000,-

Main revenue (sales/turnover)

9.610.000,-

Total operating expenses

-10.571.000,-

Cost of materials (type of expenditure format)

9.272.000,-

Cost of goods sold (operational format)

10.571.000,-

Gross profit or loss after cost of materials or after cost of goods sold

-952.000,-

Personnel costs

569.000,-

Depreciation

53.000,-

Operating profit or loss

-952.000,-

Financial income

3.036.000,-

Financial expenses

-2.051.000,-

Result of ordinary operations

33.000,-

Extraordinary income

6.000,-

Extraordinary result

39.000,-

Taxes

-17.000,-

Net profit or loss

22.000,-

Borrowing ratio

914,87 %

Current ratio

109,20 %

Profit margin.

-9,26 %

Quick ratio

45,18 %

Return on assets

1,27 %

Return on equity.

2,08 %

Solidity or equity ratio

9,85 %

 

 

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