MIRA INFORM REPORT

Report Date :

06.03.2012

IDENTIFICATION DETAILS

Name :	C.B.O. NV
Registered Office :	Stationsstraat 94 Lanaken 3620
Country :	Belgium
Financials (as on) :	31.12.2010
Date of Incorporation :	22.12.1995
Com. Reg. No.:	456955617
Legal Form :	Public Limited Liability Company (BE)
Line of Business :	Laundry and launderette activities for private individuals
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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

REGISTERED NAME & COMPANY SUMMARY

Business number		456955617	Company name	C.B.O. NV
Telephone number	089732874
Address		STATIONSSTRAAT 94 LANAKEN	Fax number	-
Post code		3620	Number of staff	-
Date of establishment		22/12/1995
Business number		456955617	Company name	C.B.O. NV
Fax number		-	Date founded	22/12/1995
Company status		active	Company type	Public Limited Liability Company (BE)
Currency		Euro (€)	Date of latest accounts	31/12/2010
Activity code		96012	liable for VAT	yes
Activity description		Laundry and launderette activities for private individuals	VAT Number	BE.0456.955.617
Belgian Bullettin of Acts Publications		moniteur belge

DIRECTORS/MANAGEMENT

Current director details

Name	RENÉ CAILLIAU
Position	Director
Date of birth	09/06/1947
Street	64 STATIONSSTRAAT LANAKEN
Post code	3620
Country	Belgium
Name	RENÉ CAILLIAU
Position	Managing Director
Date of birth	09/06/1947
Street	64 STATIONSSTRAAT LANAKEN
Post code	3620
Country	Belgium

Name	LILIANE MARIE LEA PACKLÉ
Position	Director
Date of birth	05/02/1951
Street	964 STATIONSSTRAAT LANAKEN
Post code	3620
Country	Belgium
Name	LILIANE MARIE LEA PACKLÉ
Position	Managing Director
Date of birth	05/02/1951
Street	964 STATIONSSTRAAT LANAKEN
Post code	3620
Country	Belgium

Name	LILIANE MARIE LEA PACKLÉ
Position	Chairman of the Board
Date of birth	05/02/1951
Street	964 STATIONSSTRAAT LANAKEN
Post code	3620
Country	Belgium

Former director details

Name	BODO CAILLIAU
Position	Director
Date of birth	15/07/1974
Street	67 LADDERSTRAAT LANAKEN
Post code	3620
Country	Belgium
Name	OTTO CAILLIAU
Position	Director

NEGATIVE INFORMATION

Court data summary

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

Contractor details Check Article 30 Bis

Registered contractor number	-
Contractor description	-
Date struck off register

Personnel limit NSSO

Code	-
Description	-

Joint Industrial Committee (JIC)

Significant Events

Event Date	14/06/2007
Event Description	re-appointment of director(s)
Event Details	Commentaar 14-06-2007: Herbenoeming van volgende bestuurders, voor een periode van zes jaar: Liliane Packlé (tevens tot gedelegeerd bestuurder), Bodo Wailliau en Otto Cailliau.

NSSO details

Business number	456955617
Name of defendant	-
Legal form of defendant	-
Date of summons	-
Labour court	-

Bankruptcy details

There is no bankruptcy data against this company

court data

there is no data for this company
Date of birth	13/05/1977
Street	69 HEIDESTRAAT BERINGEN
Post code	3581
Country	Belgium

SHARE & SHARE CAPITAL INFORMATION

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Individual Shareholders

Shareholder Name
Forename	Liliane	Middle name	Lea
Surname	Packlé
Shareholder Details
Start date	22/12/1995	End date	-
Percentage owned	-
Shareholder Address
Street name	Stationsstraat	House number	9645
Minor town	-	Postal town	Lanaken
Post code	3620	Country	Belgium

Shareholder Name
Forename	René	Middle name	-
Surname	Cailliau
Shareholder Details
Start date	22/12/1995	End date	-
Percentage owned	-
Shareholder Address
Street name	Stationsstraat	House number	64
Minor town	-	Postal town	Lanaken
Post code	3620	Country	Belgium

Shareholder Name
Forename	Otto	Middle name	-
Surname	Cailliau
Shareholder Details
Start date	22/12/1995	End date	-
Percentage owned	-
Shareholder Address
Street name	Heidestraat	House number	69
Minor town	Beverlo	Postal town	Beringen
Post code	3581	Country	Belgium

Shareholder Name
Forename	Bodo	Middle name	-
Surname	Cailliau
Shareholder Details
Start date	22/12/1995	End date	-

PAYMENT INFORMATION

Suspension of payments / moratorium history

Amount	-
Details	-

Payment expectations

Payment expectation days	-
Day sales outstanding	-

Industry comparison

Activity code	96012
Activity description	Laundry and launderette activities for private individuals
Industry average payment expectation days	54.20
Industry average day sales outstanding	56724.16

Industry quartile analysis

Payment expectations	View graph
Company result	-
Lower	82.23
Median	33.55
Upper	9.90
Day sales outstanding	View graph
Company result	-
Lower	66.93
Median	26.24
Upper	8.42

GROUP STRUCTURE & AFFILIATED COMPANIES

Summary

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

Group Structure

No group structure for this company.
Percentage owned	-
Shareholder Address
Street name	Ladderstraat	House number	67
Minor town	Neerharen	Postal town	Lanaken
Post code	3620	Country	Belgium

Ultimate holding company

Safe number	Company name	Company Number
-	-	-

FINANCIAL INFORMATION

Accounts & ratios

Date of latest accounts	Turnover	Profit Before Tax	Net worth
31/12/2010		1,913,132	3,020,856
31/12/2009		16,149	1,111,574
31/12/2008		21,684	1,095,682

Accounts & ratios

Date of latest accounts	Balance Total	Investments	Capital	Cash Flow	Number of Employees
31/12/2010	3,316,931		661,000	1,258	0
31/12/2009	1,425,125	671,840	661,000	1,781	0
31/12/2008	1,425,485	671,840	661,000	4,132	0

Profit & loss

Annual accounts	31-12-2010	%	31-12-2009	%	31-12-2008	Industry average 2010	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	-	-	-	-	-	3,137,341	-
Total operating expenses	-	-	-	-	-	3,051,650	-
Operating result	7,448	-79.42	36,191	-9.57	40,019	19,618	-62.03
Total financial income	1,928,739	55542	3,466	-44.92	6,293	18,519	10314
Total financial expenses	23,055	-1.93	23,508	-4.54	24,627	16,359	40.93
Results on ordinary operations before taxation	1,913,132	11746	16,149	-25.53	21,684	18,075	10484
Taxation	6,580	2462	257	-96.36	7,059	12,745	-48.37
Results on ordinary operations after taxation	1,906,552	11896	15,892	8.66	14,625	12,148	15594
Extraordinary items	2,730	-	0	-100	50	-1,392	196
Other appropriations	0.00	-	0.00	-100	1	0	-
Net result	1,909,282	11914	15,892	8.29	14,676	10,098	18807
other information
Dividends	-	-	-	-	-	73,089	-
Director remuneration	-	-	-	-	-	265,963	-
Employee costs	-	-	-	-	-	922,648	-
Wages and salary	-	-	-	-	-	702,840	-
Employee pension costs	-	-	-	-	-	1,153	-
Social security contributions	-	-	-	-	-	236,096	-
Other employee costs	0	-	0	-	0	11,775	-100
Amortization and depreciation	34,631	15.97	29,861	1.17	29,516	75,543	-54.16

Balance Sheet

Annual accounts	31-12-2010	%	31-12-2009	%	31-12-2008	Industry average 2010	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	0	-	0	-	0	8,292	-100
Tangible fixed assets	518,841	-4.07	540,846	-5.09	569,843	630,900	-17.76
Land & building	513,489	-4.97	540,328	-5.18	569,843	629,211	-18.39
Plant & machinery	1,602	208	519	-	-	116,578	-98.63
Other tangible assets	3,750	-	0	-	0	246,718	-98.48
Financial fixed assets	-	-	671,840	0.00	671,840	12,256	-
Total fixed assets	518,841	-57.22	1,212,687	-2.34	1,241,684	629,228	-17.54
Inventories	-	-	-	-	-	38,578	-
Raw materials & consumables	-	-	-	-	-	885,337	-
Work in progress	0	-	0	-	0	929	-100
Finished goods	0	-	0	-	0	1,235	-100
Other stocks	0	-	0	-	0	6,227	-100
Trade debtors	0	-100	1,169	-1.67	1,189	225,597	-100
Cash	1,258	-29.39	1,781	-56.89	4,132	65,712	-98.09
other amounts receivable	3,709	-45.43	6,798	95.28	3,481	105,173	-96.47
Miscellaneous current assets	2,793,124	1278	202,690	15.82	174,999	243,495	1047
Total current assets	2,798,091	1217	212,438	15.58	183,801	658,452	324
current liabilities
Trade creditors	1,159	33.57	868	-32.72	1,290	141,547	-99
Short term group loans	-	-	-	-	-	0	-
Other short term loans	15,700	0.00	15,700	0	15,700	167,614	-90.63
Miscellaneous current liabilities	7,442	-21.73	9,509	-1.34	9,638	-96.69	- -
Total current liabilities	24,301	-6.81	26,076	-2.07	26,628	527,013	-95.39
Long term debts
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	271,775	-5.46	287,475	-5.18	303,175	-32.06	- -
Other long term liabilities	0	-	0	-	0	83,851	-100
Total long term debts	271,775	-5.46	287,475	-5.18	303,175	340,506	-20.19
shareholders equity
Issued share capital	661,000	0	661,000	0	661,000	72,154	816
Share premium account	-	-	-	-	-	7,934	-
Reserves	2,359,856	423	450,574	3.66	434,682	273,963	761
Revaluation reserve	-	-	-	-	-	1,539,155	-
Total shareholders equity	3,020,856	171	1,111,574	1.45	1,095,682	397,060	660
Working capital	2,773,790	1388	186,362	18.57	157,173	131,438	2010
Net worth	3,020,856	171	1,111,574	1.45	1,095,682	388,767	677

Ratio Analysis

Annual accounts	31-12-2010	change(%)	31-12-2009	change(%)	31-12-2008	Industry average 2010	%
Trading performance
Profit Before Tax	-	-	-	-	-	-6.761,00	-
Return on capital employed	58.10	4952	1.15	-25.81	1.55	-26,00	223
Return on total assets employed	57.68	5004	1.13	-25.66	1.52	-12,00	480
Return on net assets employed	63.33	4267	1.45	-26.77	1.98	4,00	1483
Sales / net working capital	-	-	-	-	-	2,00	-
Stock turnover ratio	-	-	-	-	-	4,00	-
Debtor days	-	-	-	-	-	121.277,00	-
Creditor days	-	-	-	-	-	64,00	-
short term stability
Current ratio	115.14	1312	8.15	18.12	6.90	17,00	11514
Liquidity ratio / acid ratio	115.14	1312	8.15	18.12	6.90	17,00	577
Current debt ratio	0.01	-50.0	0.02	0	0.02	-1,00	1.00
Liquidity ratio reprocessed	-	-	-	-	-	-	-
long term stability
Gearing	9.52	-65.09	27.27	-6.29	29.10	-1,00	952
Equity in percentage	91.07	16.76	78	1.48	76.86	-3.175,00	2.87
Total debt ratio	0.10	-64.29	0.28	-6.67	0.30	-3,00	3.33

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Industry comparison

Activity code	96012
Activity description	Laundry and launderette activities for private individuals

Companies that match this address

Business number	Company name	Date of accounts
459700816	HEMKE BEHEER IN VEREFFENING	31/12/2002

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.79
UK Pound	1	Rs.78.79
Euro	1	Rs.65.74

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.