MIRA INFORM REPORT

 

 

Report Date :

27.03.2007

 

IDENTIFICATION DETAILS

 

Name :

KURT EINHORN

 

 

Registered Office :

Schupstraat 9 11, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

11 January 1959

 

 

Com. Reg. No.:

144901

 

 

Legal Form :

Private company with limited liability

 

 

Line of Business :

Manufacture of jewellery and related articles

 

 

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 :

Usually correct

 

 

Litigation :

Clear

 

 

name & address

 

KURT EINHORN

SCHUPSTRAAT 9 11

2018 ANTWERPEN BE

Tel. Number +32-3-2333864

Fax number +32-3-2260053

 

 

Business founded

11 January 1959

Business registered

01 January 1959 - Private company with limited liability

Business last updated

31 December 2005

Registration number,

144901, ANTWERPEN,

Value Added Tax number,

BE404950353,

Judicial form

Private company with limited liability

Activities

Manufacture of jewellery and related articles

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Good 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 5

Total share capital31 December 2005

EUR 124000,00

Branch office(s)

SCHUPSTRAAT 9,2018 ANTWERPEN   

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

PIENICA MAURICE    Manager

 

EINHORN KURT    Manager

 

PIENICA DAVID    Manager

Management

VAN HERCK THEODOOR    Representative and auditor

Auditor

THEO VAN HERCK BEDRIJFSREVISOR    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 29.393.000,00

 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

12.363.000,-

Total fixed assets

108.000,-

Total intangible fixed assets

5.000,-

Total tangible fixed assets

102.000,-

Plant, machinery and equipment

65.000,-

Total financial fixed assets

1.000,-

Investments (long-term)

1.000,-

Total Current assets

12.255.000,-

Inventories and work in progress (incl. prepayments)

3.140.000,-

Accounts receivable (trade)

9.039.000,-

Cash in hand and at bank

26.000,-

Total accrued income and prepaid expenses

50.000,-

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

12.363.000,-

Total equity (Shareholders' funds)

701.000,-

Issued (subscribed) capital

124.000,-

Profit reserves

565.000,-

Legal reserves

12.000,-

Total liabilities

11.662.000,-

Total long-term liabilities

1.467.000,-

Long-term Loans, Mortgage debts

1.461.000,-

Long-term liabilities to credit institutions

6.000,-

Total current liabilities

10.194.000,-

Current accounts payable (trade)

2.800.000,-

Current liabilities to credit institutions

6.661.000,-

Income and social tax liabilities

31.000,-

Total accrued expenses and deferred income

1.000,-

 

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

29.532.000,-

Main revenue (sales/turnover)

29.393.000,-

Total operating expenses

-28.257.000,-

Cost of materials (type of expenditure format)

27.295.000,-

Cost of goods sold (operational format)

28.257.000,-

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

1.275.000,-

Personnel costs

171.000,-

Depreciation

40.000,-

Operating profit or loss

1.275.000,-

Financial income

2.162.000,-

Financial expenses

-3.376.000,-

Result of ordinary operations

61.000,-

Extraordinary result

61.000,-

Taxes

-23.000,-

Net profit or loss

38.000,-

Borrowing ratio

1675,57 %

Current ratio

120,20 %

Debt gearing

210,78 %

Profit margin.

4,15 %

Quick ratio

88,92 %

Return on assets

4,73 %

Return on equity.

5,42 %

Solidity or equity ratio

5,67 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 34.035.000,00

 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

14.192.000,-

Total fixed assets

140.000,-

Total intangible fixed assets

6.000,-

Total tangible fixed assets

133.000,-

Plant, machinery and equipment

88.000,-

Total financial fixed assets

1.000,-

Investments (long-term)

1.000,-

Total Current assets

14.052.000,-

Inventories and work in progress (incl. prepayments)

5.423.000,-

Accounts receivable (trade)

8.573.000,-

Cash in hand and at bank

19.000,-

Total accrued income and prepaid expenses

37.000,-

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

14.192.000,-

Total equity (Shareholders' funds)

663.000,-

Issued (subscribed) capital

124.000,-

Profit reserves

527.000,-

Legal reserves

12.000,-

Total liabilities

13.529.000,-

Total long-term liabilities

1.141.000,-

Long-term Loans, Mortgage debts

1.132.000,-

Long-term liabilities to credit institutions

9.000,-

Total current liabilities

12.388.000,-

Current accounts payable (trade)

3.032.000,-

Current liabilities to credit institutions

8.818.000,-

Income and social tax liabilities

38.000,-

 

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

34.051.000,-

Main revenue (sales/turnover)

34.035.000,-

Total operating expenses

-33.804.000,-

Cost of materials (type of expenditure format)

32.707.000,-

Cost of goods sold (operational format)

33.804.000,-

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

247.000,-

Personnel costs

204.000,-

Depreciation

44.000,-

Operating profit or loss

247.000,-

Financial income

4.294.000,-

Financial expenses

-4.484.000,-

Result of ordinary operations

57.000,-

Extraordinary result

57.000,-

Taxes

-21.000,-

Net profit or loss

36.000,-

Borrowing ratio

2059,21 %

Current ratio

113,43 %

Debt gearing

173,67 %

Profit margin.

0,85 %

Quick ratio

69,35 %

Return on assets

3,86 %

Return on equity.

5,42 %

Solidity or equity ratio

4,67 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 35.508.000,00

 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

14.675.000,-

Total fixed assets

81.000,-

Total tangible fixed assets

81.000,-

Plant, machinery and equipment

30.000,-

Total Current assets

14.594.000,-

Inventories and work in progress (incl. prepayments)

5.075.000,-

Accounts receivable (trade)

9.496.000,-

Cash in hand and at bank

12.000,-

Total accrued income and prepaid expenses

11.000,-

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

14.675.000,-

Total equity (Shareholders' funds)

627.000,-

Issued (subscribed) capital

124.000,-

Profit reserves

491.000,-

Legal reserves

12.000,-

Total liabilities

14.048.000,-

Total long-term liabilities

11.000,-

Long-term liabilities to credit institutions

11.000,-

Total current liabilities

14.037.000,-

Current accounts payable (trade)

3.334.000,-

Current liabilities to credit institutions

8.926.000,-

Income and social tax liabilities

32.000,-

 

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

35.522.000,-

Main revenue (sales/turnover)

35.508.000,-

Total operating expenses

-36.442.000,-

Cost of materials (type of expenditure format)

35.243.000,-

Cost of goods sold (operational format)

36.442.000,-

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

-920.000,-

Personnel costs

143.000,-

Depreciation

43.000,-

Operating profit or loss

-920.000,-

Financial income

6.334.000,-

Financial expenses

-5.362.000,-

Result of ordinary operations

52.000,-

Extraordinary income

5.000,-

Extraordinary result

57.000,-

Taxes

-17.000,-

Net profit or loss

40.000,-

Borrowing ratio

2240,51 %

Current ratio

103,96 %

Debt gearing

1,75 %

Profit margin.

-2,40 %

Quick ratio

67,73 %

Return on assets

3,29 %

Return on equity.

6,37 %

Solidity or equity ratio

4,27 %

 

 

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

 

 

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%)

 

 

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