MIRA INFORM REPORT

 

 

Report Date :

05.06.2008

 

IDENTIFICATION DETAILS

 

Name :

MEERSSCHAERT G.R.J.

 

 

Registered Office :

Noordlaan 37 8520 Kuurne 

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2007

 

 

Date of Incorporation :

01.03. 1965

 

 

Com. Reg. No.:

74886, KORTRIJK

 

 

Legal Form :

Private Company Limited by Shares

 

 

Line of Business :

Manufacture of Miscellaneous Articles of Paperand Paperboard

 

 

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 58000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 

 

name & address

 

MEERSSCHAERT G.R.J.

 NOORDLAAN 37

 8520 KUURNE BE

Tel. Number

+32-56-350111

Fax number

+32-56-370400

 

 

 

Business founded

01 March 1965

Business registered

01 March 1965 - Private company limited by shares

Registration number,

74886, KORTRIJK,

VAT number,

BE405354288,

Legal form

Private company limited by shares

Activities

Manufacture of miscellaneous articles of paperand paperboard

Payment experience

Payment regular

Credit opinion

High creditworthiness

 

Maximum credit limit 58000 EUR is advised

 

Cash situation (balance sheet analysis) : Very good 

 

Profitability (balance sheet analysis) : Low 

 

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

 

Payment defaults : None 

Employees (Business)

 27

Total share capital30 June 2007

EUR 100000,00

Board members

MEERSSCHAERT GUY GEORGES MICHEL    Chairman and managing director

 

MEERSSCHAERT DELPHINE    Board member

 

MEERSSCHAERT ROSA    Board member

 

MEERSSCHAERT STEPHANIE ROGER    Board member

Parent company :

407819177   GIROPAN   76,00 %   

 

 

 

 

 

 

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

 

Turnover for the period: 00 0000 - 30 June 2007  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2007  in  EUR 

Total assets incl. prepaid expenses and accrued income

3.523.196,-

Total fixed assets

211.123,-

Total tangible fixed assets

210.825,-

Plant, machinery and equipment

157.548,-

Total financial fixed assets

297,-

Total Current assets

3.312.073,-

Inventories and work in progress (incl. prepayments)

683.853,-

Accounts receivable (trade)

1.872.176,-

Investments (short-term)

200.000,-

Cash in hand and at bank

547.746,-

Total accrued income and prepaid expenses

8.298,-

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

3.523.196,-

Total equity (Shareholders' funds)

1.341.964,-

Issued (subscribed) capital

100.000,-

Profit reserves

1.195.525,-

Legal reserves

46.439,-

Total provisions

3.966,-

Total liabilities

2.177.265,-

Total current liabilities

2.176.850,-

Current accounts payable (trade)

1.757.252,-

Current liabilities to credit institutions

262.812,-

Income and social tax liabilities

57.134,-

Total accrued expenses and deferred income

415,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2007  in  EUR 

Cost of goods sold (operational format)

900.934,-

Personnel costs

837.380,-

Depreciation

55.825,-

Operating profit or loss

105.455,-

Financial income

26.795,-

Financial expenses

20.972,-

Result of ordinary operations

111.279,-

Extraordinary income

4.344,-

Extraordinary expenses

2.951,-

Extraordinary result

112.672,-

Taxes

31.133,-

Net profit or loss

81.539,-

Borrowing ratio

159,60 %

Current ratio

152,12 %

Quick ratio

120,35 %

Return on assets

5,37 %

Return on equity.

6,07 %

Solidity or equity ratio

38,08 %

 

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

3.314.550,-

Total fixed assets

172.848,-

Total tangible fixed assets

172.550,-

Plant, machinery and equipment

164.981,-

Total financial fixed assets

298,-

Total Current assets

3.141.702,-

Inventories and work in progress (incl. prepayments)

614.767,-

Accounts receivable (trade)

1.814.434,-

Investments (short-term)

400.000,-

Cash in hand and at bank

308.487,-

Total accrued income and prepaid expenses

4.014,-

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

3.314.550,-

Total equity (Shareholders' funds)

1.260.425,-

Issued (subscribed) capital

100.000,-

Profit reserves

1.113.986,-

Legal reserves

46.439,-

Total provisions

3.966,-

Total liabilities

2.050.159,-

Total long-term liabilities

74.369,-

Total current liabilities

1.974.664,-

Current accounts payable (trade)

1.745.698,-

Current liabilities to credit institutions

10.224,-

Income and social tax liabilities

44.723,-

Total accrued expenses and deferred income

1.126,-

 

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

Cost of goods sold (operational format)

706.533,-

Personnel costs

669.782,-

Depreciation

28.703,-

Operating profit or loss

50.704,-

Financial income

18.249,-

Financial expenses

-17.356,-

Result of ordinary operations

51.597,-

Extraordinary income

11.000,-

Extraordinary expenses

-14.925,-

Extraordinary result

47.672,-

Taxes

-16.023,-

Net profit or loss

31.649,-

Borrowing ratio

159,84 %

Current ratio

159,00 %

Debt gearing

5,80 %

Quick ratio

127,76 %

Return on assets

2,82 %

Return on equity.

2,51 %

Solidity or equity ratio

38,02 %

 

Turnover for the period: 00 0000 - 30 June 2005  in  EUR 0,00

 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

2.170.945,-

Total fixed assets

32.978,-

Total tangible fixed assets

32.680,-

Plant, machinery and equipment

26.572,-

Total financial fixed assets

298,-

Total Current assets

2.137.967,-

Inventories and work in progress (incl. prepayments)

593.383,-

Accounts receivable (trade)

1.048.704,-

Investments (short-term)

250.000,-

Cash in hand and at bank

243.435,-

Total accrued income and prepaid expenses

2.445,-

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

2.170.945,-

Total equity (Shareholders' funds)

1.228.776,-

Issued (subscribed) capital

100.000,-

Profit reserves

1.082.337,-

Legal reserves

46.439,-

Total provisions

3.966,-

Total liabilities

938.203,-

Total long-term liabilities

223.105,-

Total current liabilities

714.765,-

Current accounts payable (trade)

436.648,-

Current liabilities to credit institutions

12.780,-

Income and social tax liabilities

91.317,-

Total accrued expenses and deferred income

333,-

 

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

Cost of goods sold (operational format)

1.181.676,-

Personnel costs

975.633,-

Depreciation

194.778,-

Operating profit or loss

-2.618,-

Financial income

8.287,-

Financial expenses

-38.603,-

Result of ordinary operations

-32.934,-

Extraordinary income

39.191,-

Extraordinary result

6.257,-

Taxes

-4.975,-

Net profit or loss

1.282,-

Borrowing ratio

75,00 %

Current ratio

298,97 %

Debt gearing

17,83 %

Quick ratio

215,75 %

Return on assets

11,03 %

Return on equity.

0,10 %

Solidity or equity ratio

56,60 %

 

 

 

 

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