MIRA INFORM REPORT

 

 

Report Date :

25.10.2007

 

IDENTIFICATION DETAILS

 

Name :

GUSTAAF DESMET

 

 

Registered Office :

Antwerpsesteenweg 455, 9040 Sint-Amandsberg 

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2006

 

 

Date of Incorporation :

10 July 1981 -

 

 

Com. Reg. No.:

130368, GENT,

 

 

Legal Form :

Private company with limited lability

 

 

Line of Business :

Sale of motor vehicles

 

 

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

 

COMPANY NAME & ADDRESS

 

GUSTAAF DESMET

ANTWERPSESTEENWEG 455

9040 SINT-AMANDSBERG BE

Tel. Number +32-9-2283366

Fax number  +32-9-2293087

 

Business founded

10 July 1981

Business registered

10 July 1981 - Private company with limited lability

Registration number,

130368, GENT,

VAT number,

BE421683645,

Legal form

Private company with limited lability

Activities

Sale of motor vehicles

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 20000 EUR is advised

 

Cash situation (balance sheet analysis) : Very good 

 

Profitability (balance sheet analysis) : Very good 

 

Commitments (regarding contractual obligations) : Fulfilled („respectés“) 

 

Payment defaults : None 

Total share capital30 June 2006

EUR 18592,00

Boardmembers

DE SMET GUSTAAF    Manager

 

 

 

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

 

Turnover for the period: 00 0000 - 30 June 2006  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

572.124,-

Total fixed assets

81.792,-

Total tangible fixed assets

81.792,-

Land and buildings

27.905,-

Total Current assets

490.332,-

Inventories and work in progress (incl. prepayments)

18.532,-

Accounts receivable (trade)

237.751,-

Investments (short-term)

30.083,-

Cash in hand and at bank

203.966,-

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

572.124,-

Total equity (Shareholders' funds)

405.732,-

Issued (subscribed) capital

18.592,-

Profit reserves

385.281,-

Legal reserves

1.859,-

Total liabilities

166.392,-

Total current liabilities

163.115,-

Current accounts payable (trade)

16.262,-

Income and social tax liabilities

15.051,-

Total accrued expenses and deferred income

3.277,-

 

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2006  in  EUR 

Cost of goods sold (operational format)

20.800,-

Depreciation

16.313,-

Operating profit or loss

112.984,-

Financial income

3.908,-

Financial expenses

-2.905,-

Result of ordinary operations

113.987,-

Extraordinary result

113.987,-

Taxes

-41.934,-

Net profit or loss

72.053,-

Borrowing ratio

41,01 %

Current ratio

294,68 %

Quick ratio

289,24 %

Return on assets

23,28 %

Return on equity.

17,75 %

Solidity or equity ratio

70,91 %

 

Turnover for the period: 00 0000 - 30 June 2005  in  EUR 1.043.925,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

705.930,-

Total fixed assets

30.746,-

Total tangible fixed assets

30.746,-

Land and buildings

30.333,-

Plant, machinery and equipment

413,-

Total Current assets

675.184,-

Inventories and work in progress (incl. prepayments)

20.452,-

Accounts receivable (trade)

315.229,-

Investments (short-term)

103.420,-

Cash in hand and at bank

236.083,-

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

705.930,-

Total equity (Shareholders' funds)

333.679,-

Issued (subscribed) capital

18.592,-

Profit reserves

313.228,-

Legal reserves

1.859,-

Total liabilities

372.251,-

Total current liabilities

372.251,-

Current accounts payable (trade)

49.933,-

Income and social tax liabilities

229.710,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2005  in  EUR 

Main revenue (sales/turnover)

1.043.925,-

Cost of goods sold (operational format)

699.708,-

Depreciation

4.289,-

Operating profit or loss

353.968,-

Financial income

15.566,-

Financial expenses

-14.245,-

Result of ordinary operations

355.289,-

Extraordinary result

355.289,-

Taxes

-160,-

Net profit or loss

355.129,-

Borrowing ratio

111,56 %

Current ratio

181,37 %

Profit margin.

34,31 %

Quick ratio

175,88 %

Return on assets

52,95 %

Return on equity.

106,42 %

Solidity or equity ratio

47,26 %

 

Turnover for the period: 00 0000 - 30 June 2004  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

603.383,-

Total fixed assets

35.035,-

Total tangible fixed assets

35.035,-

Land and buildings

32.968,-

Plant, machinery and equipment

1.646,-

Total Current assets

568.348,-

Inventories and work in progress (incl. prepayments)

25.607,-

Accounts receivable (trade)

278.189,-

Investments (short-term)

101.902,-

Cash in hand and at bank

162.650,-

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

603.383,-

Total equity (Shareholders' funds)

348.550,-

Issued (subscribed) capital

18.592,-

Profit reserves

328.099,-

Legal reserves

1.859,-

Total liabilities

254.833,-

Total long-term liabilities

666,-

Total current liabilities

254.167,-

Current accounts payable (trade)

39.206,-

Income and social tax liabilities

170.232,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2004  in  EUR 

Cost of goods sold (operational format)

13.173,-

Depreciation

11.552,-

Operating profit or loss

401.880,-

Financial income

6.197,-

Financial expenses

-7.601,-

Result of ordinary operations

400.476,-

Extraordinary result

400.476,-

Taxes

-38.401,-

Net profit or loss

362.075,-

Borrowing ratio

73,11 %

Current ratio

223,61 %

Debt gearing

0,19 %

Quick ratio

213,53 %

Return on assets

69,54 %

Return on equity.

103,88 %

Solidity or equity ratio

57,76 %

 

 

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