MIRA INFORM REPORT

Report Date :

20.01.2012

IDENTIFICATION DETAILS

Name :	IDETEX SPRL
Registered Office :	Avenue De Fré 265 Bruxelles 1180
Country :	Belgium
Financials (as on) :	31.05.2011
Date of Incorporation :	03.05.1990
Com. Reg. No.:	440777601
Legal Form :	Private Limited Company (BL/LX)
Line of Business :	Wholesale of household textiles and bedding
No. of Employees :	1

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	(€) 82.000
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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Belgium	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Top of Form

company name and address

Business number	440777601	Company name	IDETEX SPRL
Safe number	BE00233808	Telephone number	023720840
Address	AVENUE DE FRÉ 265 BRUXELLES	Fax number	023720840
Post code	1180	Number of staff	1
Date of establishment	03/05/1990

Credit information

Company status	active
Today's credit limit (€)	82.000
Today's purchase limit	0

Ultimate holding company

Safe number	Company name	Company Number	View linked companies from outside this company's group structure
-	-	-	No linked companies have been found.

Accounts & ratios

Date of latest accounts	Turnover	Profit Before Tax	Net worth
31/05/2011		51,462	773,607
31/05/2010		102,792	728,809
31/05/2009		316,939	731,907

Accounts & ratios

Date of latest accounts	Balance Total	Investments	Capital	Cash Flow	Number of Employees
31/05/2011	954,289	791	100,000	477,672	1
31/05/2010	915,692	791	100,000	604,892	1
31/05/2009	962,139	791	100,000	690,094	1

Trends

Profitability
Liquidity
Net worth

Payment expectations

Past payments		Payment expectation days	-
Industry average payment expectation days	78.73	Industry average day sales outstanding	96.95
Day sales outstanding	-

Court data summary

Bankruptcy details
Court action type	no
Protested bills
Bill amount	-
NSSO details
Date of summons	-

Business number	440777601	Company name	IDETEX SPRL
Fax number	023720840	Date founded	03/05/1990
Company status	active	Company type	Private Limited Company (BL/LX)
Currency	Euro (€)	Date of latest accounts	31/05/2011
Activity code	46412	liable for VAT	yes
Activity description	Wholesale of household textiles and bedding	VAT Number	BE.0440.777.601
Belgian Bullettin of Acts Publications	moniteur belge

Personnel limit NSSO

Code	-
Description	FROM 1 TO 4 EMPLOYEES

Joint Industrial Committee (JIC)

JIC Code	218
Description	Additional national joint committee for the employees
category

Export accounts to CSV file

comparison mode

average

median

Profit & loss

Annual accounts	31-05-2011	%	31-05-2010	%	31-05-2009	Industry average 2011	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	-	-	-	-	-	6,877,527	-
Total operating expenses	-	-	-	-	-	6,435,591	-
Operating result	90,071	-4.34	94,158	-67.08	286,004	120,937	-25.52
Total financial income	4,279	-81.47	23,095	-51.46	47,582	71,122	-93.98
Total financial expenses	42,888	196	14,460	-13.14	16,647	54,747	-21.66
Results on ordinary operations before taxation	51,462	-49.94	102,792	-67.57	316,939	133,760	-61.53
Taxation	11,918	-60.55	30,210	-71.18	104,825	51,718	-76.96
Results on ordinary operations after taxation	39,544	-45.52	72,582	-65.78	212,114	100,512	-60.66
Extraordinary items	5,254	21.62	4,320	3.52	4,173	-1,585	331
Other appropriations	0.00	-	0.00	-	0	-	-
Net result	44,798	-41.75	76,902	-64.44	216,287	98,937	-54.72
other information
Dividends	-	-	80,000	-60.0	200,000	300,925	-
Director remuneration	-	-	-	-	-	46,585	-
Employee costs	46,438	0.09	46,395	51.73	30,578	398,316	-88.34
Wages and salary	35,345	-0.82	35,638	48.10	24,064	302,385	-88.31
Employee pension costs	-	-	-	-	-	19,916	-
Social security contributions	9,129	0.86	9,051	78.03	5,084	84,450	-89.19
Other employee costs	1,964	15.14	1,706	19.27	1,430	17,609	-88.85
Amortization and depreciation	31,273	-9.05	34,383	-6.67	36,840	60,895	-48.64

balance sheet

Annual accounts	31-05-2011	%	31-05-2010	%	31-05-2009	Industry average 2011	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	0	-	0	-	0	14,019	-100
Tangible fixed assets	66,344	-18.46	81,366	-28.76	114,212	307,289	-78.41
Land & building	41,985	-6.62	44,960	-6.21	47,935	381,238	-88.99
Plant & machinery	18,610	-2.11	19,011	-32.32	28,091	67,843	-72.57
Other tangible assets	5,749	-66.95	17,396	-54.45	38,186	74,387	-92.27
Financial fixed assets	791	0	791	-0.04	791	1,433,593	-99
Total fixed assets	67,134	-18.29	82,157	-28.56	115,003	1,269,474	-94.71
Inventories	2,659	-	-	-	5,062	497,119	-99
Raw materials & consumables	-	-	-	-	-	543,157	-
Work in progress	0	-	0	-	0	4,230	-100
Finished goods	0	-	0	-	0	161,975	-100
Other stocks	2,659	-	0	-100	5,062	152,175	-98.25
Trade debtors	364,129	430	68,649	-53.12	146,432	331,090	9.98
Cash	477,672	-21.03	604,892	-12.35	690,094	230,994	106
other amounts receivable	42,694	21.01	35,280	535	5,548	387,899	-88.99
Miscellaneous current assets	0	-100	124,713	-	0	108,280	-100
Total current assets	887,155	6.43	833,535	-1.61	847,136	1,381,751	-35.79
current liabilities
Trade creditors	115,572	47.14	78,546	25.70	62,485	242,804	-52.40
Short term group loans	-	-	-	-	-	-	-
Other short term loans	0	-	0	-	0	107,576	-100
Miscellaneous current liabilities	65,110	-39.90	108,337	-35.42	167,747	-83.18	- -
Total current liabilities	180,681	-3.32	186,883	-18.83	230,232	726,381	-75.13
Long term debts
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	-	-	-	-	-	-	- -
Other long term liabilities	0	-	0	-	0	26,383	-100
Total long term debts	0	-	0	-	0	135,257	-100
shareholders equity
Issued share capital	100,000	0	100,000	0	100,000	822,637	-87.84
Share premium account	-	-	-	-	-	42,014	-
Reserves	673,607	7.12	628,809	-0.49	631,907	881,243	-23.56
Revaluation reserve	-	-	-	-	-	58,810	-
Total shareholders equity	773,607	6.15	728,809	-0.42	731,907	1,707,154	-54.68
Working capital	706,473	9.25	646,652	4.82	616,904	655,370	7.80
Net worth	773,607	6.15	728,809	-0.42	731,907	1,693,135	-54.31

ratio analysis

Annual accounts	31-05-2011	change(%)	31-05-2010	change(%)	31-05-2009	Industry average 2011	%
Trading performance
Profit Before Tax	-	-	-	-	-	-2,00	-
Return on capital employed	6.65	-52.84	14.10	-67.44	43.30	13,00	-48.85
Return on total assets employed	5.39	-52.00	11.23	-65.91	32.94	2,00	169
Return on net assets employed	6.65	-52.84	14.10	-67.44	43.30	24,00	-72.29
Sales / net working capital	-	-	-	-	-	20,00	-
Stock turnover ratio	-	-	-	-	-	23,00	-
Debtor days	-	-	-	-	-	66,00	-
Creditor days	-	-	-	-	-	39,00	-
short term stability
Current ratio	4.91	10.09	4.46	21.20	3.68	15,00	145
Liquidity ratio / acid ratio	4.90	9.87	4.46	21.86	3.66	14,00	-65.00
Current debt ratio	0.23	-11.54	0.26	-16.13	0.31	2,00	-88.50
Liquidity ratio reprocessed	-	-	-	-	-	-	-
long term stability
Gearing	-	-	-	-	-	106,00	-
Equity in percentage	81.07	1.86	79.59	4.63	76.07	10,00	710
Total debt ratio	0.23	-11.54	0.26	-16.13	0.31	2,00	-88.50

Industry comparison

Activity code	46412
Activity description	Wholesale of household textiles and bedding
industry average credit rating	61.57
Industry average credit limit	23939.40

Industry comparison

Activity code	46412
Activity description	Wholesale of household textiles and bedding
Industry average payment expectation days	78.73
Industry average day sales outstanding	96.95

Industry quartile analysis

Payment expectations	View graph
Company result	-
Lower	101.10
Median	47.07
Upper	13.64
Day sales outstanding	View graph
Company result	-
Lower	90.42
Median	41.92
Upper	17.15

Summary

Group - Number of Companies	0
Linkages - Number of Companies	0
Number of Countries	0

Group Structure

Click the company to view / order a report.

No group structure for this company.

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Individual Shareholders

Shareholder Name
Forename	Olivier	Middle name	-
Surname	Oury
Shareholder Details
Start date	08/04/1997(estimated)	End date	-
Percentage owned	33%
Shareholder Address
Street name	Avenue de l'Observatoire	House number	11
Minor town	-	Postal town	Bruxelles
Post code	1180	Country	Belgium

Companies that match this address

Business number	Company name	Date of accounts
403531183	ENTREPRISE DE TRAVAUX ACOUSTIQUES SPRL	-
408071872	MEDITERRANEAN SHIPPING COMPANY	-
414005106	WESTERN SERVICE EN LIQUIDATION SA	-
420124123	INITIAL PRODUCTS	-
424165261	SCHOLLER DISTRIBUTION	-
431972078	SITHA SPRL	-
440855397	SEVENTH STREET	-
441609425	PLAY OFF	-
474345737	JAVADIM C/O TVA UCCLE 3 SA	30/09/2008
476924056	-	-
479250274	BTL SPRL	30/06/2011
554094088	BIWER MARGUERITE	-
555478418	ATKINS PAULA	-
566602338	NJIOKIKTJIEN JOHANNA	-
759250969	KOSTECKI ANDRZEJ	-
850181937	ASSOC DES COPROPRIÉTAIRE AV DEFRÉ 265 SOC.PRF-INT	-

NSSO details

Business number

440777601

Bankruptcy details

There is no bankruptcy data against this company

court data

there is no data for this company

Current director details

Name	OLIVIER OURY
Position	Principal Manager
Street	11 AVENUE DE L'OBSERVATOIRE BRUXELLES
Post code	1180
Country	Belgium

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.29
UK Pound	1	Rs.77.60
Euro	1	Rs.64.67

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.