MIRA INFORM REPORT

 

 

Report Date :

13.01.2007

 

IDENTIFICATION DETAILS

 

Name :

B.S. GEMS

 

 

Registered Office :

Hoveniersstraat 30, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2004

 

 

Date of Incorporation :

16 September 1996

 

 

Com. Reg. No.:

318719

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

B.S. GEMS

HOVENIERSSTRAAT 30

2018 ANTWERPEN BE

Tel. Number  +32-3-2034567

 

 

Business founded

16 September 1996

Business registered

10 October 1996 - Private company with limited liability

Registration number,

318719, ANTWERPEN,

Value Added Tax number,

BE458912245,

Judicial form

Private company with limited lability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

To be monitored („a surveiller“)

Credit opinion

Credit opinion

 

Based on the available details we recommend you to deal on fully secured terms only and to monitor the developments;

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Very good 

 

Commitments (regarding contractual obligations) : Fulfilled with difficulties 

 

Payment defaults : Rare 

Total share capital31 December 2004

EUR 18600,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

DESAI NIRAJKUMAR    Manager

 

 

 

 

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 2004  in  EUR 1.666.253,00

 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

3.476.395,-

Total fixed assets

1.921,-

Total tangible fixed assets

434,-

Plant, machinery and equipment

57,-

Total financial fixed assets

1.487,-

Total Current assets

3.474.474,-

Inventories and work in progress (incl. prepayments)

551.264,-

Accounts receivable (trade)

2.897.805,-

Cash in hand and at bank

25.405,-

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

3.476.395,-

Total equity (Shareholders' funds)

30.896,-

Issued (subscribed) capital

18.600,-

Profit reserves

10.436,-

Legal reserves

1.860,-

Total liabilities

3.445.499,-

Total current liabilities

3.445.499,-

Current accounts payable (trade)

2.712.471,-

Current liabilities to credit institutions

23.305,-

Income and social tax liabilities

3.390,-

 

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)

1.666.253,-

Cost of goods sold (operational format)

1.678.124,-

Depreciation

246,-

Operating profit or loss

-11.871,-

Financial income

690.575,-

Financial expenses

-673.419,-

Result of ordinary operations

5.285,-

Extraordinary result

5.285,-

Taxes

-1.885,-

Net profit or loss

3.400,-

Borrowing ratio

11151,93 %

Current ratio

100,84 %

Profit margin.

-0,69 %

Quick ratio

84,84 %

Return on assets

19,53 %

Return on equity.

11,00 %

Solidity or equity ratio

0,88 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 2.380.403,00

 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

2.457.162,-

Total fixed assets

2.167,-

Total tangible fixed assets

680,-

Plant, machinery and equipment

115,-

Total financial fixed assets

1.487,-

Total Current assets

2.454.995,-

Inventories and work in progress (incl. prepayments)

872.794,-

Accounts receivable (trade)

1.578.313,-

Cash in hand and at bank

3.888,-

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

2.457.162,-

Total equity (Shareholders' funds)

27.495,-

Issued (subscribed) capital

18.592,-

Profit reserves

7.044,-

Legal reserves

1.859,-

Total liabilities

2.429.667,-

Total current liabilities

2.429.667,-

Current accounts payable (trade)

1.660.296,-

Current liabilities to credit institutions

49,-

Income and social tax liabilities

8.473,-

 

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)

2.380.403,-

Cost of goods sold (operational format)

2.504.787,-

Depreciation

246,-

Operating profit or loss

-124.384,-

Financial income

446.970,-

Financial expenses

-316.435,-

Result of ordinary operations

6.151,-

Extraordinary result

6.151,-

Taxes

-1.600,-

Net profit or loss

4.551,-

Borrowing ratio

8836,76 %

Current ratio

101,04 %

Profit margin.

-5,21 %

Quick ratio

65,12 %

Return on assets

13,13 %

Return on equity.

16,55 %

Solidity or equity ratio

1,11 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2002  in  EUR 442.017,00

 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 2002  in  EUR 

Total assets incl. prepaid expenses and accrued income

957.183,-

Total fixed assets

2.413,-

Total tangible fixed assets

926,-

Plant, machinery and equipment

172,-

Total financial fixed assets

1.487,-

Total Current assets

954.770,-

Inventories and work in progress (incl. prepayments)

765.725,-

Accounts receivable (trade)

183.618,-

Cash in hand and at bank

5.372,-

Total accrued income and prepaid expenses

55,-

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

957.183,-

Total equity (Shareholders' funds)

22.944,-

Issued (subscribed) capital

18.592,-

Profit reserves

2.493,-

Legal reserves

1.859,-

Total liabilities

934.239,-

Total current liabilities

934.239,-

Current accounts payable (trade)

12.617,-

Current liabilities to credit institutions

2.961,-

Income and social tax liabilities

2.333,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2002  in  EUR 

Main revenue (sales/turnover)

442.017,-

Cost of goods sold (operational format)

521.752,-

Depreciation

246,-

Operating profit or loss

-79.735,-

Financial income

209.294,-

Financial expenses

-128.176,-

Result of ordinary operations

1.383,-

Extraordinary result

1.383,-

Taxes

-475,-

Net profit or loss

908,-

Borrowing ratio

4071,82 %

Current ratio

102,19 %

Profit margin.

-17,98 %

Quick ratio

20,22 %

Return on assets

13,56 %

Return on equity.

3,95 %

Solidity or equity ratio

2,39 %

 

 

 

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