MIRA
INFORM REPORT
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Report Date : |
07.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
EURO OVERSEAS EN TRADING BVBA |
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Registered Office : |
Maria-Theresialei 7 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 : |
12.07.1999 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale Business in and
Retail Trade in Fish, Crustaceans and other Shell Fish. |
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 : |
Slow by 20 days |
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Litigation : |
Clear |
name & address
Euro Overseas en
Trading Bvba
Maria-Theresialei
7
2018 ANTWERPEN
Tel.:+32
(0)3-2326079
Legal
status
Private limited company
Founded
12/07/1999, BVBA since
31/08/1999
Trade
register
52336511
Capital
Nominal EUR 18.592,--
Issued and paid up EUR 18.592,--
Management
H. Popatlal Patel, Italiëlei 213, 2000,
Antwerpen
Activity
Wholesale business
in and retail trade in fish, crustaceans and other shell fish.
Staff
5 employees
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 63.495
2005 Euro (53.907)
The
shareholders equity was as of:
31/12/2006 Euro 174.805
31/12/2005 Euro 111.310
The working
capital was as of:
31/12/2006 Euro 67.008
31/12/2005 Euro 95.487
Website:
www.eurooverseas.com
Daily
management lies in the hands of mr. Gianni Carlucci.
Banks
not known
VAT-nr.
BE466481611
Mode
of payment
On average 20 days beyond
terms.
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the corporate balance sheet of :
Euro Overseas en Trading Bvba
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 27.043 51.899
Financial assets 412 88.209
Miscellaneous fixed assets 0 0
Total fixed assets 27.455 140.108
Stock 48.900 97.831
Receivables 726.925 886.877
Shares 0 0
Liquid assets 223.054 35.197
Miscellaneous current assets 229 0
Total current assets 999.108 1.019.905
Shareholders
equity 111.310 174.805
Provisions 0 0
Long-term liabilities 11.632 32.311
Current liabilities 903.621 952.897
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 1.026.563 1.160.013
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 -265.690 157.014
Balance financial P/L 271.621 -60.596
Net profit/loss 1] 5.931 96.418
Taxation 13.298 19.557
Share in P/L of subsidiaries 0 0
Net profit/loss 2] -7.367 76.861
Balance extraordinary P/L -46.540 -13.366
Taxation 0 0
Extraordinary P/L 2] -46.540 -13.366
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result -53.907 63.495
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 10,8 15,1
Equity/outside
capital 12,2 17,7
LIQUIDITY
Current ratio 1,1 1,1
Acid test 1,1 1
RATES OF RETURN %
Total assets 0,6 8,3
Shareholders equity 5,3 55,2
Pre tax
margin % 0 0
Turnover rate 0 0
(x
1) (x 1)
-------------------- --------------------
Working capital 95.487 67.008
Shareholders equity + Equalization acc. 111.310 174.805
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%)