MIRA
INFORM REPORT
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Report Date : |
11.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ORCES DESIGN BV |
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Registered Office : |
Tuinstraat 1, 5144 NE WAALWIJK |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
10/05/1983 |
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Legal Form : |
BV Private Company Ltd |
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Line of Business : |
Manufacture of and Trade, including Import/Export, in and Broker Trade in and Wholesale Business in as well as Agency Trade in Shoes, Leather Wear, Bags, Clothing, Machines and Apparatuses/Tools. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
Orces Design BV
Tuinstraat 1
5144 NE WAALWIJK
Tel.:+31
(0)416-566633
Fax.:+31
(0)416-330285
Legal status
BV Private Company Ltd. acc. nat. law
Founded
10/05/1983 as Ltd.
Trade register
18120494
Capital
Nominal EUR 8.168.043,--
Issued and paid up EUR 4.532.855,--
Management
-Achten Beheer BV,
Tuinstraat 1, 5144 NE
WAALWIJK
Activity
The manufacture of and trade, including import/export, in and broker trade in and wholesale business in as well as agency trade in shoes, leather wear, bags, clothing, machines and apparatusses/tools.
Staff
6 employees
Turnover
from the
consolidated balance sheet of Achten Beheer BV
2006 Euro 37.690.145
2005 Euro 38.133.065
2004 Euro 33.860.129
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
Subsidiary
company of
-Achten Beheer BV,
Tuinstraat 1, 5144 NE WAALWIJK
Subsidiary[ies]:
-The New
Shoecompany Bv,
Tuinstraat
1, 5144 NE WAALWIJK
The next
financial data is extracted
from the
consolidated balance sheet of
'Achten Beheer BV '
Consolidated net result:
2006 Euro 572.073
2005 Euro 488.202
2004 Euro 2.097.755
The
shareholders equity was as of:
31/12/2006 Euro 9.757.518
31/12/2005 Euro 9.949.066
31/12/2004 Euro 9.648.999
The working
capital was as of:
31/12/2006 Euro 5.413.706
31/12/2005 Euro 4.892.026
31/12/2004 Euro 3.078.219
A declaration of liability has been issued by
Achten Beheer B.V.
Import : Rumania, China, Taiwan, India, Brazil, Spain and Italy
Export : Europe, Asia, Africa and America\
Import share : 95^%
Export share : 50 %
Correspondence address:
Postbus 663
5140 AR
WAALWIJK
Banks
ING Bank, Arnhem, 65.41.34.510
Mode of payment
Within terms
Credit demand
No objections against entering into a business relationship.
The following financial data is retrieved
from the consolidated balance sheet of :
BALANCE SHEET
Consolidated in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 1.345.107 1.120.923
Tangible assets 686.116 476.972
Financial assets 3.097.834 2.772.244
Miscellaneous
fixed assets 0 0
Total fixed
assets 5.129.057 4.370.139
Stock 2.508.939 2.418.959
Receivables 7.938.578 7.429.473
Shares 0 0
Liquid assets 1.114.015 281.013
Miscellaneous
current assets 0 0
Total current assets
11.561.532 10.129.445
Shareholders equity 9.949.066 9.749.825
Provisions 72.017 26.327
Long-term
liabilities 0 0
Current liabilities 6.669.506 4.715.739
Minority interests 0 7.693
Miscellaneous
liabilities 0 0
Total liabilities
16.690.589
14.499.584
PROFIT & LOSS ACCOUNT
Consolidated in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 38.133.065 37.690.145
Other income 0 0
Total expenses 37.487.297 36.955.872
Operating
profit
645.768 734.273
Balance financial P/L -212.632 -182.125
Net profit/loss
1]
433.136 552.148
Taxation 334.893 267.966
Share in P/L of
subsidiaries 389.959 285.584
Net profit/loss
2]
488.202 569.766
Balance
extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L
2] 0 0
Res. sub.
companies 2] 0 0
Minority interests 0 -2.307
Miscellaneous P/L 0 0
Net result
488.202 572.073
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 59,6 67,3
Equity/outside
capital 147,6 205,3
LIQUIDITY
Current ratio 1,7 2,1
Acid test 1,4 1,6
RATES OF RETURN %
Total assets 2,6 3,8
Shareholders equity 4,4 5,7
Pre tax
margin % 1,1 1,5
Turnover rate 228,5 259,9
(x
1) (x 1)
-------------------- --------------------
Working capital 4.892.026 5.413.706
Shareholders equity + Equalization acc. 9.949.066 9.757.518
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%)