MIRA
INFORM REPORT
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Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
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Name : |
BEL FIBRES |
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Registered Office : |
Pav de Monte en Peine 2, Hyon, 7022 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1999 |
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Com. Reg. No.: |
466265538 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Recycling of non-metal waste and scrap |
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No. of Employees : |
44 employees |
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 but Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Belgium - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized on
its central geographic location, highly developed transport network, and
diversified industrial and commercial base. Industry is concentrated mainly in
the more heavily-populated region of Flanders in the north. With few natural
resources, Belgium imports substantial quantities of raw materials and exports
a large volume of manufactures, making its economy vulnerable to volatility in
world markets. Roughly three-quarters of Belgium's trade is with other EU
countries, and Belgium has benefited most from its proximity to Germany. In
2011 Belgian GDP grew by 2.0%, the unemployment rate decreased slightly to 7.7%
from 8.3% the previous year, and the government reduced the budget deficit from
a peak of 6% of GDP in 2009 to 4.2% in 2011. Despite the relative improvement
in Belgium's budget deficit, public debt hovers near 100% of GDP, a factor that
has contributed to investor perceptions that the country is increasingly
vulnerable to spillover from the euro-zone crisis. Belgian banks were severely
affected by the international financial crisis in 2008 with three major banks
receiving capital injections from the government, and the nationalization of
the Belgian arm of a Franco-Belgian bank. An ageing population and rising
social expenditures are mid- to long-term challenges to public finances.
|
Source : CIA |
Company name & address
Bel Fibres
Pav de Monte en Peine 2
Hyon, 7022
Belgium
Tel: 065 76 09 60
Fax: 065 76 09 65
Synthesis
Employees: 44
Company Type: Private Independent
Incorporation Date: 1999
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 55.8
1
Total Assets: 14.6
Business Description
Recycling of non-metal waste and scrap
Industry
Industry Waste Management Services
ANZSIC 2006: 29 - Waste
Collection, Treatment and Disposal Services
NACE 2002: 3720 - Recycling
of non-metal waste and scrap
NAICS 2002: 562920 - Materials
Recovery Facilities
UK SIC 2003: 3720 - Recycling
of non-metal waste and scrap
UK SIC 2007: 3832 - Recovery of
sorted materials
US SIC 1987: 4953 - Refuse
Systems
Key Executives
|
Name |
Title |
|
Maria Johanna Gommans |
Partner |
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Johan Alfons Jules Scholiers |
Partner |
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Christian Neveux |
Representative/Auditor |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Pav de Monte en Peine 2
Hyon, 7022
Belgium
Tel: 065 76 09 60
Fax: 065 76 09 65
Sales EUR(mil): 40.2
Assets EUR(mil): 11.2
Employees: 44
Fiscal Year End: 31-Dec-2011
Industry: Waste
Management Services
Incorporation Date: 1999
Company Type: Private Independent
Quoted Status: Not
Quoted
Registered No.(VAT): 466265538
Partner: Johan Alfons
Jules Scholiers
Contents
Industry Codes
Business Description
Financial Data
Industry Codes
ANZSIC 2006 Codes:
29 - Waste Collection, Treatment and
Disposal Services
NACE 2002 Codes:
3720 - Recycling of non-metal waste and scrap
37 - Recycling
NAICS 2002 Codes:
562920 - Materials Recovery Facilities
US SIC 1987:
4953 - Refuse Systems
UK SIC 2003:
3720 - Recycling of non-metal waste and scrap
37 - Recycling
UK SIC 2007:
3832 - Recovery of sorted materials
383 - Materials recovery
Business
Description
Recycling of non-metal waste and scrap
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Executive report
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Executives |
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Representative/Auditor |
Accounting Executive |
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Partner |
Partner |
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Partner |
Partner |
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Annual profit & loss
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Turnover |
55.8 |
45.6 |
32.3 |
|
Other Operating
Income |
0.5 |
0.3 |
0.2 |
|
Operating Income |
56.4 |
45.9 |
32.5 |
|
Purchases |
36.4 |
25.4 |
16.3 |
|
Increase
or Decrease in Stocks |
-0.5 |
1.2 |
-1.1 |
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Raw Materials,
Consumables, and Goods for Release |
35.9 |
26.6 |
15.2 |
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Services and
Sundry Goods |
14.4 |
13.7 |
12.3 |
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Remuneration, Social
Security Charges, and Pensions |
3.0 |
2.2 |
2.0 |
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Depreciation of
and Other Amounts Written Off of Formation Expense, Intangible and Tangible
Fixed Assets |
2.7 |
2.3 |
2.4 |
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Increase or Decrease
in Amounts Written Off Stocks, Orders, and Trade Debtors |
- |
0.2 |
0.1 |
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Provisions for
Liabilities and Charges |
0.0 |
0.1 |
- |
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Other Operating
Charges |
0.1 |
0.1 |
0.1 |
|
Operating
Charges |
56.1 |
45.2 |
32.2 |
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Income From Current
Assets |
0.0 |
0.0 |
0.1 |
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Other Financial
Income |
0.3 |
0.3 |
0.6 |
|
Financial Income |
0.4 |
0.3 |
0.7 |
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Interest and Other
Debt Charges |
0.1 |
0.1 |
0.0 |
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Other Financial
Charges |
0.4 |
0.4 |
0.6 |
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Financial
Charges |
0.5 |
0.5 |
0.7 |
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Gain on Disposal
of Fixed Assets |
0.0 |
- |
0.0 |
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Other
Extraordinary Income |
- |
0.0 |
- |
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Extraordinary
Income |
0.0 |
0.0 |
0.0 |
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Other
Extraordinary Charges |
0.0 |
- |
- |
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Extraordinary
Charges |
0.0 |
- |
- |
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Transfer from
Differed Taxes |
0.0 |
0.1 |
0.1 |
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Income Taxes |
0.0 |
0.2 |
0.0 |
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Adjustment of
Income Taxes and Write-Back of Tax Provisions |
0.0 |
0.0 |
0.0 |
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Income Taxes |
0.0 |
0.2 |
0.0 |
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Transfer from
Untaxed Reserves |
0.1 |
0.1 |
0.1 |
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To
Other Reserves |
0.2 |
0.3 |
0.5 |
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Transfers to
Capital and Reserves |
0.2 |
0.3 |
0.5 |
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Return
on Capital |
- |
0.3 |
- |
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Profit to be
Distributed |
- |
0.3 |
- |
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Employees |
44 |
42 |
37 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Intangible
Assets |
0.0 |
0.0 |
0.0 |
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Land
& Buildings |
2.4 |
2.6 |
3.1 |
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Plant,
Machinery, and Equipment |
3.0 |
2.7 |
3.3 |
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Furniture
and Vehicles |
0.6 |
0.3 |
0.4 |
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Leasing
and Other Similar Rights |
0.4 |
1.7 |
2.2 |
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Tangible
Assets |
6.4 |
7.3 |
9.0 |
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Amounts
Receivable and Cash Guarantees |
0.0 |
0.0 |
0.0 |
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Other
Capital Assets |
0.0 |
0.0 |
0.0 |
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Capital
Assets |
0.0 |
0.0 |
0.0 |
|
Fixed Assets |
6.4 |
7.4 |
9.0 |
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Other
Amounts Receivable |
0.0 |
- |
- |
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Amounts
Receivable After More Than One Year |
0.0 |
- |
- |
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Goods
Purchased for Resale |
1.2 |
0.8 |
2.1 |
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Stocks |
1.2 |
0.8 |
2.1 |
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Inventory
and Orders in Progress |
1.2 |
0.8 |
2.1 |
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Trade
Debtors |
5.0 |
5.8 |
4.8 |
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Other
Amounts Receivable |
1.6 |
2.0 |
1.8 |
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Amounts
Receivable Within One Year |
6.6 |
7.9 |
6.5 |
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Liquid
Assets |
0.2 |
0.5 |
0.3 |
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Adjustment
Accounts |
0.1 |
0.1 |
0.1 |
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Current Assets |
8.2 |
9.2 |
9.1 |
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Total Assets |
14.6 |
16.6 |
18.1 |
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Issued
Capital |
0.1 |
0.1 |
0.1 |
|
Capital |
0.1 |
0.1 |
0.1 |
|
Legal
Reserve |
0.0 |
0.0 |
0.0 |
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Untaxed
Reserves |
0.2 |
0.3 |
0.4 |
|
Reserves
Available for Distribution |
1.7 |
1.5 |
1.3 |
|
Reserves |
1.9 |
1.8 |
1.7 |
|
Major
Repairs and Maintenance |
0.1 |
0.1 |
- |
|
Other
Liabilities and Charges |
0.1 |
- |
- |
|
Provisions
for Liabilities and Charges |
0.1 |
0.1 |
- |
|
Deferred
Taxation |
0.2 |
0.2 |
0.3 |
|
Provisions
and Deferred Taxes |
0.3 |
0.3 |
0.3 |
|
Capital and
Reserves |
2.8 |
3.1 |
2.7 |
|
Subordinated
Loans |
0.5 |
0.7 |
0.9 |
|
Leasing
and Other Similar Obligations |
0.3 |
0.6 |
0.8 |
|
Credit
Institutions |
1.1 |
1.2 |
1.7 |
|
Other
Loans |
0.0 |
0.0 |
0.0 |
|
Financial
Debts |
2.0 |
2.6 |
3.5 |
|
Other
Amounts Payable |
- |
- |
0.1 |
|
Amounts
Due After More Than One Year |
2.0 |
2.6 |
3.6 |
|
Current
Portion of Amounts Payable After More Than One Year |
2.1 |
2.6 |
3.0 |
|
Suppliers |
7.2 |
7.3 |
8.3 |
|
Trade
Debts |
7.2 |
7.3 |
8.3 |
|
Taxes |
- |
0.2 |
0.0 |
|
Remuneration
and Social Security |
0.2 |
0.2 |
0.2 |
|
Taxes,
Wages, and Social Security |
0.2 |
0.4 |
0.2 |
|
Other
Amounts Payable |
- |
0.3 |
- |
|
Amounts
Payable Within One Year |
9.5 |
10.5 |
11.5 |
|
Adjustment
Accounts |
0.0 |
0.1 |
0.1 |
|
Creditors |
11.5 |
13.1 |
15.2 |
|
Total
Liabilities + Shareholders' Equity |
14.6 |
16.6 |
18.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.53 |
|
UK Pound |
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.