MIRA INFORM REPORT

 

 

Report Date :

31.08.2007

 

IDENTIFICATION DETAILS

 

Name :

CRYSTAL TRADERS

 

 

Registered Office :

Hoveniersstraat 30, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

22 November 1982

 

 

Com. Reg. No.:

233984

 

 

Legal Form :

Private company with limited liability

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

name & address

 

CRYSTAL TRADERS

HOVENIERSSTRAAT 30

2018 ANTWERPEN BE

Tel. Number       +32-3-2336765

Fax number       +32-3-2314176

 

 

Business founded

22 November 1982

Business registered

01 January 1983 - Private company with limited liability

Registration number,

233984, ANTWERPEN,

VAT number,

BE423257619,

Legal form

Private company with limited liability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 1

Total share capital31 December 2006

EUR 19000,00

Branch office(s)

SCHUPSTRAAT 9 11,2018 ANTWERPEN   

Boardmembers

ZAVERI ABHAYA    Manager

Management

FRANCOIS PHILIPPE ANNA RICHARD    Representative and auditor

Auditor

WESTEN, FRANCOIS & CO, BEDRIJFSREVISOREN    Auditors´ president

 

 

 

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 13.255.000,00

 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

7.101.000,-

Total fixed assets

188.000,-

Total tangible fixed assets

188.000,-

Land and buildings

182.000,-

Plant, machinery and equipment

6.000,-

Total Current assets

6.913.000,-

Inventories and work in progress (incl. prepayments)

2.215.000,-

Accounts receivable (trade)

3.901.000,-

Cash in hand and at bank

784.000,-

Total accrued income and prepaid expenses

13.000,-

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

7.101.000,-

Total equity (Shareholders' funds)

882.000,-

Issued (subscribed) capital

19.000,-

Profit reserves

110.000,-

Statutory reserves

907.000,-

Legal reserves

2.000,-

Profit or loss carried forward

-156.000,-

Total liabilities

6.219.000,-

Total current liabilities

6.218.000,-

Current accounts payable (trade)

5.770.000,-

Income and social tax liabilities

4.000,-

Total accrued expenses and deferred income

1.000,-

 

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

Total operating income/revenue

13.255.000,-

Main revenue (sales/turnover)

13.255.000,-

Total operating expenses

13.361.000,-

Cost of materials (type of expenditure format)

12.988.000,-

Cost of goods sold (operational format)

13.361.000,-

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

-106.000,-

Personnel costs

35.000,-

Depreciation

11.000,-

Operating profit or loss

-106.000,-

Financial income

7.000,-

Financial expenses

8.000,-

Result of ordinary operations

-107.000,-

Extraordinary result

-107.000,-

Taxes

49.000,-

Net profit or loss

-156.000,-

Borrowing ratio

705,10 %

Current ratio

111,15 %

Profit margin.

-0,71 %

Quick ratio

75,34 %

Return on assets

-1,92 %

Return on equity.

-17,68 %

Solidity or equity ratio

12,42 %

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 12.353.000,00

 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

6.420.000,-

Total fixed assets

199.000,-

Total tangible fixed assets

199.000,-

Land and buildings

191.000,-

Plant, machinery and equipment

8.000,-

Total Current assets

6.221.000,-

Inventories and work in progress (incl. prepayments)

1.535.000,-

Accounts receivable (trade)

4.635.000,-

Cash in hand and at bank

36.000,-

Total accrued income and prepaid expenses

15.000,-

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

6.420.000,-

Total equity (Shareholders' funds)

131.000,-

Issued (subscribed) capital

19.000,-

Profit reserves

110.000,-

Legal reserves

2.000,-

Total liabilities

6.289.000,-

Total current liabilities

6.289.000,-

Current accounts payable (trade)

5.778.000,-

Income and social tax liabilities

7.000,-

 

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

Total operating income/revenue

12.357.000,-

Main revenue (sales/turnover)

12.353.000,-

Total operating expenses

-12.084.000,-

Cost of materials (type of expenditure format)

11.903.000,-

Cost of goods sold (operational format)

12.084.000,-

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

273.000,-

Personnel costs

16.000,-

Depreciation

11.000,-

Operating profit or loss

273.000,-

Financial income

1.382.000,-

Financial expenses

-1.633.000,-

Result of ordinary operations

22.000,-

Extraordinary result

22.000,-

Taxes

-6.000,-

Net profit or loss

16.000,-

Borrowing ratio

4800,76 %

Current ratio

98,91 %

Profit margin.

2,33 %

Quick ratio

74,27 %

Return on assets

0,59 %

Return on equity.

12,21 %

Solidity or equity ratio

2,04 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 12.927.000,00

 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

5.698.000,-

Total fixed assets

210.000,-

Total tangible fixed assets

210.000,-

Land and buildings

200.000,-

Plant, machinery and equipment

10.000,-

Total Current assets

5.488.000,-

Inventories and work in progress (incl. prepayments)

1.319.000,-

Accounts receivable (trade)

3.843.000,-

Cash in hand and at bank

315.000,-

Total accrued income and prepaid expenses

11.000,-

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

5.698.000,-

Total equity (Shareholders' funds)

115.000,-

Issued (subscribed) capital

19.000,-

Profit reserves

94.000,-

Legal reserves

2.000,-

Total liabilities

5.583.000,-

Total current liabilities

5.583.000,-

Current accounts payable (trade)

5.124.000,-

Income and social tax liabilities

5.000,-

 

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

Total operating income/revenue

12.927.000,-

Main revenue (sales/turnover)

12.927.000,-

Total operating expenses

-13.020.000,-

Cost of materials (type of expenditure format)

12.889.000,-

Cost of goods sold (operational format)

13.020.000,-

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

-93.000,-

Personnel costs

11.000,-

Depreciation

10.000,-

Operating profit or loss

-93.000,-

Financial income

2.056.000,-

Financial expenses

-1.937.000,-

Result of ordinary operations

26.000,-

Extraordinary result

26.000,-

Taxes

-7.000,-

Net profit or loss

19.000,-

Borrowing ratio

4854,78 %

Current ratio

98,29 %

Profit margin.

-0,64 %

Quick ratio

74,47 %

Return on assets

0,64 %

Return on equity.

16,52 %

Solidity or equity ratio

2,01 %

 

 

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