MIRA INFORM REPORT
|
Report Date : |
04.06.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
ESCOLYS TEXTILES NV |
|
|
|
|
Registered Office : |
Heirbaan 73 Anzegem 8570 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
22.05.1991 |
|
|
|
|
Com. Reg. No.: |
444217141 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Preparation and spinning of textile fibres |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
280,000 (€) |
|
Status : |
Very good |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Belgium |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company
Summary
|
Company Summary |
|
|
Business Name |
ESCOLYS TEXTILES NV |
|
Business Number |
444217141 |
|
Address |
HEIRBAAN 73 ANZEGEM |
|
Post Code |
8570 |
|
Telephone |
056782200 |
|
Fax Number |
056782210 |
|
Date of Establishment |
22/05/1991 |
|
Number of Employees |
92 |
|
Credit Information Summary |
|
|
Company Status |
ACTIVE |
|
Credit Limit (€) |
280,000 |
|
Purchase Limit (€) |
2,900,000 |
|
Date of Deposit at Registry |
19/10/2010 |
|
Date of Last Accounts |
31/12/2009 |
|
Turnover |
14,671,236 |
|
Results of Ordinary Operations Before Tax |
-1,982,823 |
|
Networth |
1,086,420 |
|
Past Payments |
|
|
Payment Expectation Days |
54.46 |
|
Days Sales Outstanding |
61.17 |
|
Industry Average Payment Expectation Days |
76.20 |
|
Industry Average Day Sales Outstanding |
93.06 |
|
Court Data Summary |
|
|
bankruptcy details |
|
|
Court Action Type |
None |
|
Protested Bills |
|
|
Bill Amount |
|
|
NSSO Details |
|
|
Date of Summons |
// |
Company
Information
|
company details |
|
|
Business Number |
444217141 |
|
Name |
ESCOLYS TEXTILES NV |
|
Fax Number |
056782210 |
|
Establishment Date |
22/05/1991 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Activity Description |
Preparation and spinning of textile fibres |
|
Activity Code |
13100 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
-- |
|
House Number |
|
|
City |
-- |
|
Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry Date |
// |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
// |
|
Latest Event |
|
|
Serial Number |
62886 |
|
Event Description |
Reappointment commissioner |
Accounts
& Ratio
|
Period |
|||||
|
Accounts End Date |
31/12/2009 |
% |
31/12/2008 |
% |
31/12/2007 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Currency |
EUR |
- |
EUR |
- |
EUR |
|
Profit & Loss |
|||||
|
Turnover |
14,671,236 |
-12.7% |
16,812,571 |
-27.9% |
23,306,077 |
|
Total Operating Expenses |
16,369,884 |
7.0% |
15,292,712 |
-33.8% |
23,117,822 |
|
Operating Result |
-1,698,648 |
-211.8% |
1,519,859 |
707.3% |
188,255 |
|
Total Financial Income |
230,091 |
14.3% |
201,364 |
-33.4% |
302,350 |
|
Total Financial Expenses |
478,296 |
-4.7% |
501,994 |
-46.9% |
944,533 |
|
Results on Ordinary Operations Before Tax |
-1,973,951 |
-268.0% |
1,174,960 |
358.8% |
-453,928 |
|
Taxation |
8,872 |
-15.8% |
10,542 |
-90.2% |
107,946 |
|
Results on Ordinary Operations After Tax |
-1,982,823 |
-270.3% |
1,164,418 |
307.2% |
-561,874 |
|
Extraordinary Items |
-747,339 |
44.0% |
-1,334,247 |
18.7% |
-1,641,295 |
|
Net Result |
-2,712,316 |
-1,684.6% |
-151,983 |
93.0% |
-2,185,325 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
3,671,147 |
-1.0% |
3,708,206 |
4.9% |
3,535,960 |
|
- Wages & Salaries |
2,394,593 |
-9.9% |
2,658,303 |
6.0% |
2,508,683 |
|
- Social Security Contributions |
1,141,365 |
11.8% |
1,021,089 |
49.0% |
685,161 |
|
- Other Employee Costs |
129,536 |
672.6% |
16,767 |
-95.1% |
342,116 |
|
Amortization & Depreciation |
1,207,106 |
72.2% |
701,095 |
89.1% |
370,778 |
|
Balance Sheet |
|||||
|
Accounts End Date |
31/12/2009 |
% |
31/12/2008 |
% |
31/12/2007 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
1,929,547 |
-10.4% |
2,153,383 |
240.7% |
632,133 |
|
Tangible Fixed Assets |
3,048,880 |
-12.2% |
3,474,059 |
129.5% |
1,513,888 |
|
- Land And Buildings |
0 |
- |
0 |
- |
0 |
|
- Plant And Machinery |
2,780,375 |
-12.4% |
3,174,321 |
174.7% |
1,155,613 |
|
- Other Tangible Assets |
268,505 |
-10.4% |
299,738 |
-16.3% |
358,275 |
|
Financial Fixed Assets |
21,507 |
-47.0% |
40,579 |
111.1% |
19,222 |
|
Total Fixed Assets |
4,999,934 |
-11.8% |
5,668,021 |
161.8% |
2,165,243 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
1,913,066 |
-15.7% |
2,268,860 |
11.1% |
2,041,348 |
|
- Work in Progress |
260,231 |
1.2% |
257,048 |
2.5% |
250,702 |
|
- Finished Goods |
2,798,710 |
14.4% |
2,446,813 |
51.1% |
1,619,747 |
|
- Other Stocks |
0 |
-100.0% |
1 |
- |
0 |
|
Trade Debtors |
2,458,687 |
-26.3% |
3,335,751 |
-14.4% |
3,897,553 |
|
Cash |
242,830 |
-34.6% |
371,285 |
15.9% |
320,313 |
|
- Miscellaneous Current Assets |
72,026 |
2.1% |
70,527 |
21.8% |
57,927 |
|
Total Current Assets |
7,904,280 |
-14.5% |
9,244,797 |
-16.1% |
11,016,406 |
|
|
|||||
|
- Trade Creditors |
2,442,420 |
-28.3% |
3,407,286 |
-23.3% |
4,440,134 |
|
- Short Term Group Loans |
4,907,399 |
56.1% |
3,143,583 |
601.5% |
448,138 |
|
- Other Short Term Loans |
2,501,290 |
40.2% |
1,784,086 |
21.5% |
1,468,148 |
|
- Miscellaneous Current Liabilities |
-3,772,554 |
-55.8% |
-2,420,656 |
-630.5% |
456,258 |
|
Total Current Liabilities |
6,078,555 |
2.8% |
5,914,299 |
-13.2% |
6,812,678 |
|
|
|||||
|
- Long Term Group Loans |
3,747,235 |
31.5% |
2,850,000 |
- |
0 |
|
- Other Long Term Loans |
3,747,235 |
22.2% |
3,065,381 |
1,218.9% |
232,423 |
|
- Other Long Term Liabilities |
-3,684,779 |
-39.3% |
-2,645,144 |
-1,132.1% |
256,282 |
|
Total Long Term Debts |
3,809,691 |
16.5% |
3,270,237 |
569.2% |
488,705 |
|
|
|||||
|
- Issued Share Capital |
74,368 |
0.0% |
74,368 |
0.0% |
74,368 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
2,941,599 |
-48.0% |
5,653,915 |
-2.6% |
5,805,898 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
3,015,967 |
-47.3% |
5,728,283 |
-2.6% |
5,880,266 |
|
|
|||||
|
Working Capital |
1,825,725 |
-45.2% |
3,330,498 |
-20.8% |
4,203,728 |
|
Net Worth |
1,086,420 |
-69.6% |
3,574,900 |
-31.9% |
5,248,133 |
|
Ratio Analysis |
||||||
|
Trading Performance |
||||||
|
Pre-tax Profit Margin |
-13.45 |
-292.4% |
6.99 |
458.5% |
-1.95 |
|
|
Return On Capital Employed |
-28.92 |
-321.4% |
13.06 |
283.2% |
-7.13 |
|
|
Return On Total Assets Employed |
-15.30 |
-294.2% |
7.88 |
329.1% |
-3.44 |
|
|
Return On Net Assets Employed |
-108.12 |
-406.5% |
35.28 |
426.7% |
-10.80 |
|
|
Sales / Net Working Capital |
8.04 |
59.2% |
5.05 |
-8.8% |
5.54 |
|
|
Operating Efficiency |
|
|||||
|
Stock Turnover Ratio |
33.89 |
14.6% |
29.58 |
76.3% |
16.78 |
|
|
Debtor Days |
61.17 |
-15.5% |
72.42 |
18.6% |
61.04 |
|
|
Creditor Days |
54.46 |
-33.0% |
81.32 |
16.0% |
70.10 |
|
|
Short Term Stability |
|
|||||
|
Current Ratio |
1.30 |
-16.7% |
1.56 |
-3.7% |
1.62 |
|
|
Liquidity Ratio / Acid Ratio |
0.48 |
-33.3% |
0.72 |
-30.8% |
1.04 |
|
|
Current Debt Ratio |
2.02 |
96.1% |
1.03 |
-11.2% |
1.16 |
|
|
Long Term Stability |
|
|||||
|
Gearing |
494.14 |
161.0% |
189.29 |
418.0% |
36.54 |
|
|
Equity In Percentage |
0.27 |
-40.0% |
0.45 |
-4.3% |
0.47 |
|
|
Total Debt Ratio |
4.94 |
161.4% |
1.89 |
410.8% |
0.37 |
|
Payment
Expectation
|
Payment Expectations |
|
|
Payment Expectation Days |
54.46 |
|
Day Sales Outstanding |
61.17 |
|
Industry Comparison |
|
|
Activity Code |
1310 |
|
Activity Description |
Preparation and spinning of textile fibres |
|
Industry Average Day Sales Outstanding |
93.06 |
|
Industry Average Payment Expectation Days |
76.20 |
|
Industry Quartile Analysis |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
46.43 |
|
Payment Expectations - Median |
69.96 |
|
Payment Expectations - Upper |
102.78 |
|
Day Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
26.61 |
|
Day Sales Outstanding - Median |
48.46 |
|
Day Sales Outstanding - Upper |
83.35 |
Shareholders
|
No holding companies for this company. |
|
No subsidiaries for this company. |
Court
Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of Drawer |
-- |
|
NSSO Details |
|
|
Business Number |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
Company Director |
|
|
Full Name |
RICHARD AUGUST MARCE DEPRAETERE |
|
Position |
Director |
|
Address |
2 WIJNSBERGSTRAAT ANZEGEM |
|
Postal Code |
8570 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
JEAN-PAUL BERT FERNA DEPRAETERE |
|
Position |
Managing director |
|
Address |
53 EIKELDREEF SINT-MARTENS-LATEM |
|
Postal Code |
9830 |
|
Country |
-- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.85 |
|
UK Pound |
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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 |
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 |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.