MIRA INFORM REPORT

Report Date :

18.05.2011

IDENTIFICATION DETAILS

Name :	TACHE-HSK BVBA

Registered Office :	Hoveniersstraat 53 Antwerpen 2018

Country :	Belgium

Financials (as on) :	31.12.2009

Date of Incorporation :	03.03.2006

Com. Reg. No.:	879919563

Legal Form :	Private Limited Liability Company

Line of Business :	Wholesale of diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Belgium

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	TACHE-HSK BVBA
Business Number	879919563
Address	HOVENIERSSTRAAT 53 ANTWERPEN
Post Code	2018
Telephone	032335505
Fax Number	032132667
Date of Establisment	03/03/2006
Number of Employees	0

Credit Information Summary
Credit Limit (€)	400,000
Purchase Limit (€)	7,400,000
Date of Deposit at Registry	13/07/2010
Date of Last Accounts	31/12/2009
Turnover	49,638,211
Results of Ordinary Operations Before Tax	44,226
Networth	143,132

Past Payments
Payment Expectation Days	0.44
Days Sales Outstanding	36.79
Industry Average Payment Expectation Days	137
Industry Average Day Sales Outstanding	124.66

Court Data Summary
bankruptcy details
Court Action Type	None
Protested Bills
Bill Amount
NSSO Details
Date of Summons	//

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	49,638,211	17.3%	42,302,580	9.0%	38,797,450
Total Operating Expenses	49,271,169	18.0%	41,749,457	8.6%	38,440,033
Operating Result	367,042	-33.6%	553,123	54.8%	357,417
Total Financial Income	6,476	188.0%	2,249	758.4%	262
Total Financial Expenses	300,039	-40.3%	502,792	79.5%	280,063
Results on Ordinary Operations Before Tax	73,478	39.7%	52,580	-32.3%	77,616
Taxation	29,252	5.5%	27,730	2.6%	27,035
Results on Ordinary Operations After Tax	44,226	78.0%	24,850	-50.9%	50,581
Extraordinary Items	0	-100.0%	1,758	-	0
Net Result	44,227	66.2%	26,608	-47.4%	50,581
Other Information
Dividends	-	-	-	-	-
Director Remuneration	-	-	-	-	-
Employee Costs	21,191	-1.4%	21,494	66.5%	12,911
- Wages & Salaries	17,728	-8.1%	19,285	64.4%	11,728
- Social Security Contributions	2,953	33.7%	2,209	86.7%	1,183
- Other Employee Costs	510	-	-	-	-
Amortization & Depreciation	11,816	51.5%	7,798	1,290.0%	561

Balance Sheet
Accounts End Date	31/12/2009	%	31/12/2008	%	31/12/2007
Weeks	52	-	52	-	52
Intangible Fixed Assets	0	-	0	-	0
Tangible Fixed Assets	38,860	-25.9%	52,453	311.7%	12,740
- Land And Buildings	0	-	0	-	0
- Plant And Machinery	7,470	-29.3%	10,561	-17.1%	12,740
- Other Tangible Assets	31,390	-25.1%	41,892	-	0
Financial Fixed Assets	0	-	0	-	0
Total Fixed Assets	38,860	-25.9%	52,453	311.7%	12,740
Inventories
- Raw Materials & Consumables	0	-	0	-	0
- Work in Progress	0	-	0	-	0
- Finished Goods	0	-	0	-	0
- Other Stocks	9,047,463	148.9%	3,634,704	27.7%	2,847,077
Trade Debtors	5,003,167	828.1%	539,080	-86.5%	3,982,158
Cash	41,697	-92.3%	541,175	5,947.3%	8,949
- Miscellaneous Current Assets	2,753	135.5%	1,169	116,800.0%	1
Total Current Assets	14,105,624	198.3%	4,728,988	-30.9%	6,842,071

- Trade Creditors	59,167	142.4%	24,404	-90.1%	246,323
- Short Term Group Loans	0	-	0	-	0
- Other Short Term Loans	10,433,782	910.5%	1,032,486	-64.3%	2,890,636
- Miscellaneous Current Liabilities	19,650	0.6%	19,535	168.1%	7,286
Total Current Liabilities	10,512,599	876.6%	1,076,425	-65.8%	3,144,245

- Long Term Group Loans	0	-	0	-	0
- Other Long Term Loans	0	-	0	-	0
- Other Long Term Liabilities	3,488,753	-3.2%	3,602,672	-0.9%	3,634,829
Total Long Term Debts	3,488,753	-3.2%	3,602,672	-0.9%	3,634,829

- Issued Share Capital	6,019	-2.9%	6,200	0.0%	6,200
- Share Premium Account	0	-	0	-	0
- Reserves	137,113	42.6%	96,144	38.3%	69,536
- Revaluation Reserve	0	-	0	-	0
Total Shareholders Equity	143,132	39.9%	102,344	35.1%	75,736

Working Capital	3,593,025	-1.6%	3,652,563	-1.2%	3,697,826
Net Worth	143,132	39.9%	102,344	35.1%	75,736

Ratio Analysis
Trading Performance
Pre-tax Profit Margin	0.15	25.0%	0.12	-40.0%	0.20
Return On Capital Employed	2.02	42.3%	1.42	-32.1%	2.09
Return On Total Assets Employed	0.52	-52.7%	1.10	-2.7%	1.13
Return On Net Assets Employed	2.05	42.4%	1.44	-31.4%	2.10
Sales / Net Working Capital	13.82	19.3%	11.58	10.4%	10.49
Operating Efficiency
Stock Turnover Ratio	18.23	112.2%	8.59	17.0%	7.34
Debtor Days	36.79	691.2%	4.65	-87.6%	37.46
Creditor Days	0.44	109.5%	0.21	-91.0%	2.34
Short Term Stability
Current Ratio	1.34	-69.5%	4.39	101.4%	2.18
Liquidity Ratio / Acid Ratio	0.48	-52.9%	1.02	-19.7%	1.27
Current Debt Ratio	73.45	598.2%	10.52	-74.7%	41.52
Long Term Stability
Gearing	7,289.62	622.6%	1,008.84	-73.6%	3,816.73
Equity In Percentage	0.01	-50.0%	0.02	100.0%	0.01
Total Debt Ratio	72.90	622.5%	10.09	-73.6%	38.17

Payment Expectations

Payment Expectations
Payment Expectation Days	0.44
Day Sales Outstanding	36.79

Industry Comparison
Activity Code	4676
Activity Description	Wholesale of other intermediate products
Industry Average Day Sales Outstanding	124.66
Industry Average Payment Expectation Days	137

Industry Quartile Analysis
Payment Expectation Days
Payment Expectations - Lower	41.25
Payment Expectations - Median	90.32
Payment Expectations - Upper	162.53
Day Sales Outstanding
Day Sales Outstanding - Lower	31.52
Day Sales Outstanding - Median	75.21
Day Sales Outstanding - Upper	158.58

Shareholders

Holding Company
Company Name	TACHE ENTERPRISES COMA
Business Number	861945958
Share Percentage	51
Annual Accounts Date	01/12/2009

No subsidaries 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
FullName	JEAN JACQUES TACHE
Position	Manager
Address	72 ACACIALAAN WILRIJK (ANTW.)
Postal Code	2610
Country	--

Company Director
FullName	KEN JAY WEINBERG
Position	Manager
Address	15 ALFRED COOLSSTRAAT ANTWERPEN
Postal Code	2020
Country	--

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.07
UK Pound	1	Rs.72.97
Euro	1	Rs.63.57

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

company details
Business Number	879919563
Name	TACHE-HSK BVBA
Fax Number	032132667
Establishment Date	03/03/2006
Company Status	ACTIVE
Company Type	Private limited liability company
Activity Description	Wholesale of diamonds and other precious stones
Activity Code	46761
Liable For Vat	yes
Currency	Euro (€)

Latest Branch Details
Street	HOVENIERSSTRAAT
House Number	30
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	0
Trade Registered Entry Date	01/03/2006
view all

Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	//

Latest Event
Serial Number	178261
Event Description	Reappointment commissioner
view all