MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
STAR EXCEL BVBA |
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Registered Office : |
Hoveniersstraat 53, 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
02.06.2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Trade in
diamonds; import and export of polished and unpolished diamonds; manufacture,
cutting, grinding and sowing of precious stones. |
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
Star Excel Bvba
Hoveniersstraat 53
2018 ANTWERPEN
Tel.:+32
(0)3-4010080
Fax.:+32
(0)3-4010081
Founded
02/06/2003 as BVBA
Trade
register
99762385
Capital
Nominal EUR 19.000,--
Issued and paid up EUR 19.000,--
Activity
Trade in
diamonds; import and export of polished and unpolished diamonds; manufacture, cutting,
grinding and sowing of precious stones.
Staff
4 employees
Turnover
Net turnover:
2006 Euro 14.335.771
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 21.929
2005 Euro 18.980
2004 Euro 13.753
The
shareholders equity was as of:
31/12/2006 Euro 73.661
31/12/2005 Euro 51.732
31/12/2004 Euro 32.753
The working
capital was as of:
31/12/2006 Euro 367.654
31/12/2005 Euro (38.510)
31/12/2004 Euro (65.657)
E-mail : starexcel@iway.be
Accountants:
TCLM - Toelen, Cats, Morlie & Co CVBA Duboisstraat 39/5, 2060 Antwerpen
Banks
Not known
VAT-nr.
BE480762385
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 :
Star Excel Bvba
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 2.246 963
Tangible assets 87.916 90.228
Financial assets 80 330
Miscellaneous fixed assets 0 0
Total fixed assets 90.242 91.521
Stock 2.592.709 3.401.238
Receivables 2.578.127 2.496.453
Shares 0 0
Liquid assets 623.707 7.725
Miscellaneous current assets 0 4.842
Total current assets 5.794.543 5.910.258
Shareholders
equity 51.732 73.661
Provisions 0 0
Long-term liabilities 0 373.030
Current liabilities 5.833.053 5.542.604
Minority interests 0 0
Miscellaneous
liabilities 0 12.484
Total liabilities 5.884.785 6.001.779
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 0 14.335.771
Other income 0 1.778
Total expenses 64.963 14.234.462
Operating profit 118.069 103.087
Balance financial P/L -40.365 -78.279
Net profit/loss 1] 77.704 24.808
Taxation 6.802 2.854
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 70.902 21.954
Balance extraordinary P/L -51.922 -25
Taxation 0 0
Extraordinary P/L 2] -51.922 -25
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 18.980 21.929
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2005----- -----2006-----
EQUITY
%
Equity gearing 0,9 1,2
Equity/outside capital 0,9 1,2
LIQUIDITY
Current ratio 1 1,1
Acid test 0,5 0,5
RATES OF RETURN %
Total assets 1,3 0,4
Shareholders
equity 150,2 33,7
Pre tax margin
% 0 0,2
Turnover rate 0 238,9
(x
1) (x 1)
-------------------- --------------------
Working capital -38.510 367.654
Shareholders
equity + Equalization acc. 51.732 73.661
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%)