MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIDIAM BVBA |
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Registered Office : |
Hoveniersstraat 30 Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
29.03.1982 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale Business in
Diamonds. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
Midiam Bvba
Hoveniersstraat 30
ANTWERPEN
Tel.:+32
(0)3-2338625
Fax.:+32
(0)3-2338625
Legal
status
Private limited company
Founded
13/03/1982, BVBA since
29/03/1982
Trade
register
99229586
Capital
Nominal EUR 18.600,--
Issued and paid up EUR 18.600,--
Management
-Goldstein Isaac,
Maria Theresialaan 11, 2018 Antwerpen
Activity
Wholesale business
in diamonds.
Staff
1 employee.
Real
estate
The business
premises at the mentioned address has been rented by the company, as far as we
know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 251.688
2005 Euro 9.406
The
shareholders equity was as of:
31/12/2006 Euro 360.814
31/12/2005 Euro 101.921
The working
capital was as of:
31/12/2006 Euro 243.496
31/12/2005 Euro (12.540)
Full
address:
Hoveniersstraat
30, Office 48, bus 165
2018 ANTWERPEN - BELGIUM
Banks
not known
VAT-nr.
BE422498247
Mode
of payment
No complaints have been
registered
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from the corporate balance
sheet of :
MIDIAM BVBA
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 278.101 260.165
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed assets 278.101 260.165
Stock 216.777 396.691
Receivables 342.238 449.188
Shares 0 0
Liquid assets 1.691 1.801
Miscellaneous current assets 0 0
Total current assets 560.706 847.680
Shareholders
equity 101.921 360.814
Provisions 28.093 26.286
Long-term liabilities 135.464 116.561
Current liabilities 573.246 604.184
Minority interests 0 0
Miscellaneous
liabilities 83 0
Total liabilities 838.807 1.107.845
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 0 0
Other income 0 0
Total expenses 0 0
Operating profit 52.712 9.113
Balance financial P/L -70.940 -25.518
Net profit/loss 1] -18.228 -16.405
Taxation 3.134 14.530
Share in P/L of subsidiaries 0 0
Net profit/loss 2] -21.362 -30.935
Balance extraordinary P/L 26.250 278.105
Taxation 0 0
Extraordinary P/L 2] 26.250 278.105
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 4.518 4.518
Net result 9.406 251.688
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 12,2 32,6
Equity/outside
capital 13,8 48,3
LIQUIDITY
Current ratio 1 1,4
Acid test 0,6 0,7
RATES OF RETURN %
Total assets -2,2 -1,5
Shareholders equity -17,9 -4,5
Pre tax
margin % 0 0
Turnover rate 0 0
(x
1) (x 1)
-------------------- --------------------
Working capital -12.540 243.496
Shareholders equity + Equalization acc. 101.921 360.814
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)