MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
EMIEL VETS EN ZONEN NV |
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Registered Office : |
Pelikaanstraat 62 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.03.1973 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Trade in Diamonds and
Related Articles; Engaging in all Diamond Related Activities. |
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 : |
Regular |
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Litigation : |
Clear |
name & address
|
Emiel Vets En
Zonen Nv |
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Pelikaanstraat
62 |
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2018 ANTWERPEN |
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Tel.:+32
(0)3-2317558 |
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Fax.:+32
(0)3-2319449 |
Legal
status
NV Public limited company
[nat. law]
Founded
01/03/1973, P.l.c. since
01/01/1990
Trade
register
12830020
Capital
Nominal EUR 250.000,--
Issued and paid up EUR 250.000,--
Management
Marc Vets, Itegembaan 127, 2590 Berlaar.
Joris Vets, Itegembaan 188, 2590 Berlaar
Johan Vets, Doelstraat 31, 2590 Berlaar
Activity
The trade in
diamonds and related articles; engaging in all diamond related activities.l
Staff
13 employees
Turnover
Net turnover:
2006 Euro 11.615.155
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:
2007 Euro 87.398
2006 Euro 1.022.814
The
shareholders equity was as of:
31/12/2007 Euro 1.717.104
31/12/2006 Euro 1.629.706
The working
capital was as of:
31/12/2007 Euro 1.678.833
31/12/2006 Euro 1.599.085
Bankers :
Antwerpse Diamantbank
Full
address:
Pelikaanstraat
62 Diamond Club Offices 217-218-219
2018
Antwerpen
Banks
Under remarks
VAT-nr.
BE412830020
Mode
of payment
Within terms
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the corporate balance sheet of :
Emiel
Vets En Zonen Nv
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 0 0
Tangible assets 53.069 84.195
Financial assets 4.689 4.689
Miscellaneous fixed assets 0 0
Total fixed assets 57.758 88.884
Stock 2.528.004 2.234.606
Receivables 1.267.816 1.220.595
Shares 0 0
Liquid assets 135.843 12.513
Miscellaneous current assets 0 0
Total current assets 3.931.663 3.467.714
Shareholders
equity 1.629.706 1.717.104
Provisions 0 0
Long-term liabilities 24.635 50.613
Current liabilities 2.332.578 1.788.881
Minority interests 0 0
Miscellaneous
liabilities 2.502 0
Total liabilities 3.989.421 3.556.598
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 11.615.155 0
Other income 0 0
Total expenses 11.416.217
Operating profit 198.938 247.334
Balance financial P/L -122.914 -129.620
Net profit/loss 1] 76.024 117.714
Taxation 53.663 30.316
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 22.361 87.398
Balance extraordinary P/L 1.000.453 0
Taxation 0
Extraordinary P/L 2] 1.000.453 0
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 1.022.814 87.398
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 40,9 48,3
Equity/outside
capital 69,1 93,3
LIQUIDITY
Current ratio 1,7 1,9
Acid test 0,6 0,7
RATES OF RETURN %
Total assets 1,9 3,3
Shareholders equity 4,7 6,9
Pre tax
margin % 0,7 0
Turnover rate 291,1 0
(x
1) (x 1)
-------------------- --------------------
Working capital 1.599.085 1.678.833
Shareholders equity + Equalization acc. 1.629.706 1.717.104
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)