MIRA INFORM REPORT

 

 

Report Date :

23.11.2007

 

IDENTIFICATION DETAILS

 

Name :

TACHE COMPANY

 

 

Registered Office :

Hoveniersstraat 53 B.103, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

01 January 1958

 

 

Com. Reg. No.:

141190

 

 

Legal Form :

Public Limited Company

 

 

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 :

No Complaints

 

 

Litigation :

Clear

 

name & address

 

TACHE COMPANY

HOVENIERSSTRAAT 53 B.103

2018 ANTWERPEN BE

Tel. Number       +32-3-2341818

Fax number       +32-3-2318792

 

 

Business founded

01 January 1958

Business registered

01 January 1958 - Public limited company (no information regarding quotation)

Registration number,

141190, ANTWERPEN,

VAT number,

BE404991430,

Legal form

Public limited company (no information regarding quotation)

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Limited 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 42

Total share capital31 December 2006

EUR 1427000,00

Branch office(s)

HOVENIERSSTRAAT 2 B.347,2018 ANTWERPEN   

Boardmembers

TACHE JOSEPH    Deputy boardmember

 

TACHE ISAAC    Boardmember

 

TACHE ROBERT    Boardmember

Management

VAN BOURGOGNIE PATRICK    Representative and auditor

Auditor

WESTEN, FRANCOIS & CO, BEDRIJFSREVISOREN    Auditors´ president

Subsidiary company.

TACHE & COMPANY ITALIA S.R.L.   95,00 %   

 

429616463   FILDIAM   51,00 %   

 

478159124   ATHANOR   51,00 %   

Associate company.

434165664   EOROPEAN DIAMOND COMPANY   49,00 %   

Affiliate. A company which is affiliated with the Business.

448601046   SMOLENSK DIAMONDS   0,02 %   

 

 

 

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

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 223.397.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

171.296.000,-

Total fixed assets

2.052.000,-

Total tangible fixed assets

2.040.000,-

Land and buildings

1.625.000,-

Plant, machinery and equipment

381.000,-

Total financial fixed assets

12.000,-

Investments (long-term)

12.000,-

Total Current assets

169.243.000,-

Inventories and work in progress (incl. prepayments)

89.340.000,-

Accounts receivable (trade)

76.384.000,-

Cash in hand and at bank

3.350.000,-

Total accrued income and prepaid expenses

169.000,-

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

171.296.000,-

Total equity (Shareholders' funds)

3.528.000,-

Issued (subscribed) capital

1.427.000,-

Share premium account (capital reserve)

1.312.000,-

Profit reserves

744.000,-

Legal reserves

46.000,-

Total liabilities

167.767.000,-

Total long-term liabilities

119.614.000,-

Long-term Loans, Mortgage debts

119.614.000,-

Total current liabilities

48.077.000,-

Current accounts payable (trade)

36.304.000,-

Current liabilities to credit institutions

11.503.000,-

Income and social tax liabilities

270.000,-

Total accrued expenses and deferred income

77.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2006  in  EUR 

Total operating income/revenue

223.480.000,-

Main revenue (sales/turnover)

223.397.000,-

Total operating expenses

220.672.000,-

Cost of materials (type of expenditure format)

212.318.000,-

Cost of goods sold (operational format)

220.671.000,-

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

2.809.000,-

Personnel costs

1.304.000,-

Depreciation

230.000,-

Operating profit or loss

2.809.000,-

Financial income

2.235.000,-

Financial expenses

4.907.000,-

Result of ordinary operations

137.000,-

Extraordinary income

47.000,-

Extraordinary expenses

2.000,-

Extraordinary result

183.000,-

Taxes

105.000,-

Net profit or loss

78.000,-

Borrowing ratio

4755,30 %

Current ratio

351,46 %

Debt gearing

3390,42 %

Profit margin.

1,50 %

Quick ratio

165,84 %

Return on assets

2,85 %

Return on equity.

2,21 %

Solidity or equity ratio

2,06 %

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 239.336.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

171.626.000,-

Total fixed assets

2.445.000,-

Total intangible fixed assets

4.000,-

Total tangible fixed assets

2.400.000,-

Land and buildings

1.874.000,-

Plant, machinery and equipment

473.000,-

Total financial fixed assets

41.000,-

Loans, shares and participations

26.000,-

Investments (long-term)

15.000,-

Total Current assets

169.181.000,-

Inventories and work in progress (incl. prepayments)

86.906.000,-

Accounts receivable (trade)

81.754.000,-

Cash in hand and at bank

322.000,-

Total accrued income and prepaid expenses

199.000,-

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

171.626.000,-

Total equity (Shareholders' funds)

3.758.000,-

Issued (subscribed) capital

1.500.000,-

Share premium account (capital reserve)

1.465.000,-

Profit reserves

747.000,-

Legal reserves

46.000,-

Total liabilities

167.868.000,-

Total long-term liabilities

29.535.000,-

Long-term Loans, Mortgage debts

29.535.000,-

Total current liabilities

138.252.000,-

Current accounts payable (trade)

105.936.000,-

Current liabilities to credit institutions

32.025.000,-

Income and social tax liabilities

247.000,-

Total accrued expenses and deferred income

81.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

239.793.000,-

Main revenue (sales/turnover)

239.336.000,-

Total operating expenses

-229.940.000,-

Cost of materials (type of expenditure format)

223.079.000,-

Cost of goods sold (operational format)

229.940.000,-

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

9.853.000,-

Personnel costs

1.088.000,-

Depreciation

277.000,-

Operating profit or loss

9.853.000,-

Financial income

33.943.000,-

Financial expenses

-43.569.000,-

Result of ordinary operations

227.000,-

Extraordinary income

6.000,-

Extraordinary expenses

-34.000,-

Extraordinary result

199.000,-

Taxes

-79.000,-

Net profit or loss

120.000,-

Borrowing ratio

4471,71 %

Current ratio

122,29 %

Debt gearing

786,76 %

Profit margin.

4,24 %

Quick ratio

59,36 %

Return on assets

1,71 %

Return on equity.

3,19 %

Solidity or equity ratio

2,18 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 226.747.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

106.267.000,-

Total fixed assets

2.623.000,-

Total intangible fixed assets

8.000,-

Total tangible fixed assets

2.585.000,-

Land and buildings

1.934.000,-

Plant, machinery and equipment

614.000,-

Total financial fixed assets

30.000,-

Loans, shares and participations

16.000,-

Investments (long-term)

14.000,-

Total Current assets

103.644.000,-

Inventories and work in progress (incl. prepayments)

41.113.000,-

Accounts receivable (trade)

62.322.000,-

Cash in hand and at bank

34.000,-

Total accrued income and prepaid expenses

175.000,-

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

106.267.000,-

Total equity (Shareholders' funds)

3.638.000,-

Issued (subscribed) capital

1.500.000,-

Share premium account (capital reserve)

1.465.000,-

Profit reserves

633.000,-

Legal reserves

40.000,-

Total liabilities

102.629.000,-

Total long-term liabilities

8.663.000,-

Long-term Loans, Mortgage debts

8.663.000,-

Total current liabilities

93.962.000,-

Current accounts payable (trade)

75.144.000,-

Current liabilities to credit institutions

6.955.000,-

Income and social tax liabilities

228.000,-

Total accrued expenses and deferred income

4.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Total operating income/revenue

227.101.000,-

Main revenue (sales/turnover)

226.747.000,-

Total operating expenses

-228.369.000,-

Cost of materials (type of expenditure format)

223.576.000,-

Cost of goods sold (operational format)

228.369.000,-

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

-1.268.000,-

Personnel costs

990.000,-

Depreciation

269.000,-

Operating profit or loss

-1.268.000,-

Financial income

51.864.000,-

Financial expenses

-50.423.000,-

Result of ordinary operations

173.000,-

Extraordinary income

1.000,-

Extraordinary expenses

-4.000,-

Extraordinary result

170.000,-

Taxes

-163.000,-

Net profit or loss

7.000,-

Borrowing ratio

2827,25 %

Current ratio

109,75 %

Debt gearing

238,65 %

Profit margin.

-0,31 %

Quick ratio

65,81 %

Return on assets

1,50 %

Return on equity.

0,19 %

Solidity or equity ratio

3,42 %

 

 

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.

 

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