MIRA INFORM REPORT

 

 

Report Date :

16.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

B & S ANTWERP

 

 

Registered Office :

Pelikaanstraat 62, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

16.12. 1952

 

 

Com. Reg. No.:

123173

 

 

Legal Form :

Private Company Limited By Shares

 

 

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

 

Maximum Credit Limit :

EUR 214500

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

B & S ANTWERP

PELIKAANSTRAAT 62

2018 ANTWERPEN BE

Tel. Number       +32-3-2338800

Fax number       +32-3-2333370

 

 

Business founded

16 December 1952

Business registered

01 December 1952 - Private company limited by shares

Registration number,

123173, ANTWERPEN,

VAT number,

BE404931943,

Legal form

Private company limited by shares

Activities

Wholesale of miscellaneous intermediate products

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 214500 EUR is advised

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Low 

 

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

 

Payment defaults : None 

Employees (Business)

 11

Total share capital31 December 2005

EUR 125000,00

Board members

HOLDING SINCE 1789    Board member

 

VARTKESS KNADJIAN    Board member

Management

CALLENS BOUDEWIJNS    Representative and auditor

Auditor

CALLENS, PIRENNE THEUNISSEN EN CO BEDRIJFSREVISOREN - CALLENS, PIRENNE   Auditors´ president

(Part-) Owner

859699815   VAK HOLDING   0,10 %   

Parent company :

860248755   HOLDING SINCE 1789   99,90 %   

Subsidiary company.

BACKES & STRAUSS INTERNATIONAL BV   100,00 %   

 

437694781   ARARAT DIAMOND COMPANY   99,00 %   

 

 

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

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 51.409.000,00

 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

27.895.000,-

Total fixed assets

2.469.000,-

Total intangible fixed assets

10.000,-

Total tangible fixed assets

60.000,-

Plant, machinery and equipment

41.000,-

Total financial fixed assets

2.399.000,-

Loans, shares and participations

4.326.000,-

Investments (long-term)

24.000,-

Total Current assets

25.426.000,-

Inventories and work in progress (incl. prepayments)

13.067.000,-

Accounts receivable (trade)

12.193.000,-

Receivables from affiliates and companies in which participations are held

1.951.000,-

Cash in hand and at bank

87.000,-

Total accrued income and prepaid expenses

79.000,-

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

27.895.000,-

Total equity (Shareholders' funds)

1.505.000,-

Issued (subscribed) capital

125.000,-

Profit reserves

1.160.000,-

Legal reserves

12.000,-

Profit or loss carried forward

208.000,-

Total provisions

21.000,-

Total liabilities

26.369.000,-

Total long-term liabilities

7.711.000,-

Long-term Loans, Mortgage debts

7.711.000,-

Total current liabilities

18.595.000,-

Current accounts payable (trade)

8.701.000,-

Current liabilities to credit institutions

8.097.000,-

Income and social tax liabilities

64.000,-

Total accrued expenses and deferred income

63.000,-

 

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

Total operating income/revenue

51.494.000,-

Main revenue (sales/turnover)

51.409.000,-

Total operating expenses

-49.506.000,-

Cost of materials (type of expenditure format)

46.971.000,-

Cost of goods sold (operational format)

49.506.000,-

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

1.988.000,-

Personnel costs

678.000,-

Depreciation

38.000,-

Operating profit or loss

1.988.000,-

Financial income

1.179.000,-

Financial expenses

-3.236.000,-

Result of ordinary operations

-69.000,-

Extraordinary income

104.000,-

Extraordinary expenses

-8.000,-

Extraordinary result

27.000,-

Taxes

136.000,-

Net profit or loss

163.000,-

Borrowing ratio

1763,81 %

Current ratio

136,27 %

Debt gearing

515,79 %

Profit margin.

4,11 %

Quick ratio

66,03 %

Return on assets

3,62 %

Return on equity.

10,83 %

Solidity or equity ratio

5,39 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 46.483.000,00

 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

26.217.000,-

Total fixed assets

2.757.000,-

Total intangible fixed assets

3.000,-

Total tangible fixed assets

80.000,-

Plant, machinery and equipment

51.000,-

Total financial fixed assets

2.674.000,-

Loans, shares and participations

4.885.000,-

Investments (long-term)

19.000,-

Total Current assets

23.460.000,-

Inventories and work in progress (incl. prepayments)

15.390.000,-

Accounts receivable (trade)

7.631.000,-

Receivables from affiliates and companies in which participations are held

2.230.000,-

Cash in hand and at bank

414.000,-

Total accrued income and prepaid expenses

25.000,-

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

26.217.000,-

Total equity (Shareholders' funds)

1.342.000,-

Issued (subscribed) capital

125.000,-

Profit reserves

1.160.000,-

Legal reserves

12.000,-

Profit or loss carried forward

45.000,-

Total liabilities

24.875.000,-

Total long-term liabilities

5.358.000,-

Long-term Loans, Mortgage debts

5.358.000,-

Total current liabilities

18.922.000,-

Current accounts payable (trade)

11.475.000,-

Current liabilities to credit institutions

7.354.000,-

Income and social tax liabilities

92.000,-

Total accrued expenses and deferred income

595.000,-

 

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

Total operating income/revenue

46.515.000,-

Main revenue (sales/turnover)

46.483.000,-

Total operating expenses

-46.528.000,-

Cost of materials (type of expenditure format)

43.871.000,-

Cost of goods sold (operational format)

46.528.000,-

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

-13.000,-

Personnel costs

720.000,-

Depreciation

49.000,-

Operating profit or loss

-13.000,-

Financial income

1.754.000,-

Financial expenses

-1.677.000,-

Result of ordinary operations

64.000,-

Extraordinary expenses

-5.000,-

Extraordinary result

59.000,-

Taxes

12.000,-

Net profit or loss

71.000,-

Borrowing ratio

1857,73 %

Current ratio

120,20 %

Debt gearing

400,15 %

Profit margin.

0,07 %

Quick ratio

42,51 %

Return on assets

2,33 %

Return on equity.

5,29 %

Solidity or equity ratio

5,11 %

 

Turnover for the period: 00 0000 - 31 December 2003  in  EUR 50.740.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

21.097.000,-

Total fixed assets

1.217.000,-

Total intangible fixed assets

5.000,-

Total tangible fixed assets

92.000,-

Plant, machinery and equipment

53.000,-

Total financial fixed assets

1.120.000,-

Loans, shares and participations

1.101.000,-

Investments (long-term)

19.000,-

Total Current assets

19.880.000,-

Inventories and work in progress (incl. prepayments)

9.790.000,-

Accounts receivable (trade)

9.675.000,-

Cash in hand and at bank

376.000,-

Total accrued income and prepaid expenses

39.000,-

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

21.097.000,-

Total equity (Shareholders' funds)

1.271.000,-

Issued (subscribed) capital

125.000,-

Profit reserves

1.160.000,-

Legal reserves

12.000,-

Profit or loss carried forward

-26.000,-

Total liabilities

19.826.000,-

Total long-term liabilities

5.889.000,-

Long-term Loans, Mortgage debts

5.889.000,-

Total current liabilities

13.932.000,-

Current accounts payable (trade)

8.924.000,-

Current liabilities to credit institutions

4.958.000,-

Income and social tax liabilities

49.000,-

Total accrued expenses and deferred income

5.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2003  in  EUR 

Total operating income/revenue

50.821.000,-

Main revenue (sales/turnover)

50.740.000,-

Total operating expenses

-52.554.000,-

Cost of materials (type of expenditure format)

49.765.000,-

Cost of goods sold (operational format)

52.554.000,-

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

-1.733.000,-

Personnel costs

759.000,-

Depreciation

54.000,-

Operating profit or loss

-1.733.000,-

Financial income

3.718.000,-

Financial expenses

-2.317.000,-

Result of ordinary operations

-332.000,-

Extraordinary expenses

-26.000,-

Extraordinary result

-358.000,-

Taxes

-99.000,-

Net profit or loss

-457.000,-

Borrowing ratio

1566,03 %

Current ratio

142,64 %

Debt gearing

465,17 %

Profit margin.

-2,49 %

Quick ratio

72,14 %

Return on assets

1,71 %

Return on equity.

-35,95 %

Solidity or equity ratio

6,02 %

 

 

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