MIRA
INFORM REPORT
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Report Date : |
20th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SOLITAIRE
THE DIAMOND COMPANY |
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Registered Office : |
Hoveniersstraat 30,
2018 Antwerpen Belgium |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
22.02.1990 |
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Com. Reg. No.: |
275257, ANTWERPEN |
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Legal Form : |
Private
company with limited liability |
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Line of Business : |
Wholesale of miscellaneous
intermediate 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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Maximum Credit Limit : |
121500
EUR |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name & Address
SOLITAIRE THE DIAMOND COMPANY
HOVENIERSSTRAAT 30
2018 ANTWERPEN BE
Tel. Number +32-3-2263400
Fax number +32-3-2339856
Business founded
29 January 1990
Business registered
22 February 1990 - Private
company with limited liability
Business last updated
31 December 2005
Registration number
275257, ANTWERPEN
Value Added Tax number
BE439745837
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 :121500 EUR is
advised
Cash situation (balance sheet
analysis) : Limited
Profitability (balance sheet analysis) : Low
Commitments (regarding contractual obligations) : Currently fulfilled
Payment defaults : None
Employees (Business)
1
Total share capital
31 December 2005 EUR 19000,00
Branch office(s)
HOVENIERSSTRAAT 30,2018
ANTWERPEN
Bank
DEXIA BANK
BELGIUM
Boardmembers
KOTHARI NISHIL PARESHBHAI
Manager
KOTHARI PARESH
Manager
Management
PARIKH VIJAY MAHENDRAKUMAR
Partner
CHOKSI VIRAT Partner
FRANCOIS PHILIPPE Representative and
auditor
VANGEEL HUGO Representative and
auditor
Auditor
WESTEN, FRANCOIS & CO, BEDRIJFSREVISOREN
Auditors´ president
FIDUCIAIRE VANGEEL EN CO
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 30.832.000,00 |
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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 |
15.381.000,- |
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Total
fixed assets |
165.000,- |
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Total
tangible fixed assets |
158.000,- |
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Land
and buildings |
70.000,- |
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Plant,
machinery and equipment |
13.000,- |
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Total
financial fixed assets |
7.000,- |
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Investments
(long-term) |
7.000,- |
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Total
Current assets |
15.216.000,- |
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Inventories
and work in progress (incl. prepayments) |
5.704.000,- |
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Accounts
receivable (trade) |
9.485.000,- |
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Cash
in hand and at bank |
15.000,- |
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Total
accrued income and prepaid expenses |
12.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
15.381.000,- |
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Total
equity (Shareholders' funds) |
249.000,- |
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Issued
(subscribed) capital |
19.000,- |
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Profit
reserves |
228.000,- |
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Legal
reserves |
2.000,- |
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Total
liabilities |
15.132.000,- |
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Total
long-term liabilities |
1.800.000,- |
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Long-term
Loans, Mortgage debts |
1.753.000,- |
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Long-term
liabilities to credit institutions |
47.000,- |
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Total
current liabilities |
13.332.000,- |
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Current
accounts payable (trade) |
7.372.000,- |
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Current
liabilities to credit institutions |
4.682.000,- |
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Income
and social tax liabilities |
54.000,- |
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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 |
30.848.000,- |
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Main
revenue (sales/turnover) |
30.832.000,- |
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Total
operating expenses |
-29.929.000,- |
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Cost
of materials (type of expenditure format) |
29.677.000,- |
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Cost
of goods sold (operational format) |
29.929.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
919.000,- |
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Personnel
costs |
24.000,- |
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Depreciation |
40.000,- |
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Operating
profit or loss |
919.000,- |
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Financial
income |
2.799.000,- |
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Financial
expenses |
-3.680.000,- |
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Result
of ordinary operations |
38.000,- |
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Extraordinary
result |
38.000,- |
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Taxes |
-18.000,- |
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Net
profit or loss |
20.000,- |
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Borrowing
ratio |
6077,11 % |
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Current
ratio |
114,13 % |
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Debt
gearing |
722,89 % |
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Profit
margin. |
3,16 % |
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Quick
ratio |
71,25 % |
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Return
on assets |
2,65 % |
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Return
on equity. |
8,03 % |
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Solidity
or equity ratio |
1,61 % |
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PER, period regarding TUn, TRn, TXn, CPI
or CPN: 00 0000 - 31 December 2004 in EUR 36.118.000,00 |
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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 |
10.740.000,- |
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Total
fixed assets |
128.000,- |
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Total
tangible fixed assets |
121.000,- |
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Land
and buildings |
73.000,- |
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Plant,
machinery and equipment |
19.000,- |
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Total
financial fixed assets |
7.000,- |
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Investments
(long-term) |
7.000,- |
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Total
Current assets |
10.612.000,- |
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Inventories
and work in progress (incl. prepayments) |
2.454.000,- |
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Accounts
receivable (trade) |
8.093.000,- |
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Cash
in hand and at bank |
15.000,- |
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Total
accrued income and prepaid expenses |
50.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
10.740.000,- |
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Total
equity (Shareholders' funds) |
229.000,- |
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Issued
(subscribed) capital |
19.000,- |
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Profit
reserves |
208.000,- |
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Legal
reserves |
2.000,- |
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Total
liabilities |
10.511.000,- |
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Total
long-term liabilities |
1.628.000,- |
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Long-term
liabilities to credit institutions |
16.000,- |
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Total
current liabilities |
8.882.000,- |
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Current
accounts payable (trade) |
4.455.000,- |
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Current
liabilities to credit institutions |
3.320.000,- |
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Income
and social tax liabilities |
56.000,- |
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Total
accrued expenses and deferred income |
1.000,- |
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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 |
36.118.000,- |
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Main
revenue (sales/turnover) |
36.118.000,- |
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Total
operating expenses |
-35.910.000,- |
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Cost
of materials (type of expenditure format) |
35.587.000,- |
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Cost
of goods sold (operational format) |
35.910.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
208.000,- |
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Personnel
costs |
24.000,- |
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Depreciation |
29.000,- |
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Operating
profit or loss |
208.000,- |
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Financial
income |
3.241.000,- |
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Financial
expenses |
-3.372.000,- |
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Result
of ordinary operations |
77.000,- |
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Extraordinary
result |
77.000,- |
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Taxes |
-27.000,- |
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Net
profit or loss |
50.000,- |
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Borrowing
ratio |
4589,96 % |
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Current
ratio |
119,46 % |
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Debt
gearing |
710,92 % |
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Profit
margin. |
0,65 % |
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Quick
ratio |
91,28 % |
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Return
on assets |
2,92 % |
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Return
on equity. |
21,83 % |
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Solidity
or equity ratio |
2,13 % |
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PER, period regarding TUn, TRn, TXn, CPI
or CPN: 00 0000 - 31 December 2003 in EUR 27.630.000,00 |
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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 |
8.860.000,- |
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Total
fixed assets |
154.000,- |
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Total
tangible fixed assets |
147.000,- |
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Land
and buildings |
76.000,- |
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Plant,
machinery and equipment |
30.000,- |
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Total
financial fixed assets |
7.000,- |
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Investments
(long-term) |
7.000,- |
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Total
Current assets |
8.706.000,- |
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Inventories
and work in progress (incl. prepayments) |
3.671.000,- |
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Accounts
receivable (trade) |
4.957.000,- |
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Cash
in hand and at bank |
26.000,- |
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Total
accrued income and prepaid expenses |
52.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
8.860.000,- |
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Total
equity (Shareholders' funds) |
167.000,- |
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Issued
(subscribed) capital |
19.000,- |
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Profit
reserves |
158.000,- |
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Legal
reserves |
2.000,- |
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Total
liabilities |
8.693.000,- |
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Total
long-term liabilities |
1.710.000,- |
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Long-term
liabilities to credit institutions |
27.000,- |
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Total
current liabilities |
6.983.000,- |
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Current
accounts payable (trade) |
4.222.000,- |
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Current
liabilities to credit institutions |
2.067.000,- |
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Income
and social tax liabilities |
50.000,- |
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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 |
27.645.000,- |
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Main
revenue (sales/turnover) |
27.630.000,- |
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Total
operating expenses |
-27.843.000,- |
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Cost
of materials (type of expenditure format) |
27.540.000,- |
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Cost
of goods sold (operational format) |
27.843.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
-198.000,- |
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Personnel
costs |
18.000,- |
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Depreciation |
30.000,- |
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Operating
profit or loss |
-198.000,- |
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Financial
income |
4.199.000,- |
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Financial
expenses |
-3.938.000,- |
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Result
of ordinary operations |
63.000,- |
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Extraordinary
result |
63.000,- |
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Taxes |
-22.000,- |
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Net
profit or loss |
41.000,- |
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Borrowing
ratio |
5205,39 % |
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Current
ratio |
124,67 % |
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Debt
gearing |
1023,95 % |
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Profit
margin. |
-0,60 % |
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Quick
ratio |
71,35 % |
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Return
on assets |
2,67 % |
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Return
on equity. |
24,55 % |
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Solidity
or equity ratio |
1,88 % |
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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