MIRA INFORM REPORT

Report Date :

06.03.2012

IDENTIFICATION DETAILS

Name :	HOLVOET BOUWMATERIALEN NV

Registered Office :	Huttegemstraat 56 Avelgem 8580

Country :	Belgium

Financials (as on) :	28.02.2011

Date of Incorporation :	08.12.1989

Com. Reg. No.:	439325074

Legal Form :	Public Limited Liability Company (BE)

Line of Business :	Wholesale of construction materials, general assortment

No. of Employees :	12

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	445.000 Euro
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

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	439325074	Company name	HOLVOET BOUWMATERIALEN NV
Safe number	BE00224770	Telephone number	056644051
Address	HUTTEGEMSTRAAT 56 AVELGEM	Fax number	055206510
Post code	8580	Number of staff	12
Date of establishment	08/12/1989
Business number	439325074	Company name	HOLVOET BOUWMATERIALEN NV
Fax number	055206510	Date founded	08/12/1989
Company status	active	Company type	Public Limited Liability Company (BE)
Currency	Euro (€)	Date of latest accounts	28/02/2011
Activity code	46731	liable for VAT	yes
Activity description	Wholesale of construction materials, general assortment	VAT Number	BE.0439.325.074
Belgian Bullettin of Acts Publications	moniteur belge

CREDIT RECOMENDATION

Current Credit Limit: 445.000 Euro

DIRECTORS/MANAGEMENT

Current director details

Name	CAROLINE MARTYN
Position	Director
Street	76 PONTSTRAAT AVELGEM
Post code	8580
Country	Belgium

Name	JEAN-NOEL LIMBORG
Position	Director
Street	23 MAAGDENSTRAAT RONSE
Post code	9600
Country	Belgium

Name	LUC HOLVOET
Position	Director
Street	76 PONTSTRAAT AVELGEM
Post code	8580
Country	Belgium

Name	LUC HOLVOET
Position	Chairperson
Street	76 PONTSTRAAT AVELGEM
Post code	8580
Country	Belgium

Name	LUC HOLVOET
Position	Managing Director
Street	76 PONTSTRAAT AVELGEM
Post code	8580
Country	Belgium

Former director details

NEGATIVE INFORMATION

NSSO details

Business number

439325074

Bankruptcy details

There is no bankruptcy data against this company

court data

there is no data for this company

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)

JIC Code	100
Description	Additional joint committee for labourers
category

JIC Code	106.02
Description	Joint subcommittee for the cement agglomerates
category

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

Significant Events

Event Date	01/07/2007
Event Description	re-appointment of director(s)
Event Details	Commentaar 01-07-2007: Herbenoeming van de bestuurders Holvoet Luc (ook als gedelegeerd bestuurder en voorzitter), Caroline Martyn en Jean-Noel Limborg voor een periode van zes jaar

SHARE & SHARE CAPITAL INFORMATION

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

PAYMENT INFORMATION

Payment expectations

Past payments		Payment expectation days	-
Industry average payment expectation days	116.94	Industry average day sales outstanding	1739.88
Day sales outstanding	-

Industry comparison

Activity code	46731
Activity description	Wholesale of construction materials, general assortment
Industry average payment expectation days	116.94
Industry average day sales outstanding	1739.88

Industry quartile analysis

Payment expectations		View graph
Company result		-
Lower		87.53
Median		58.61
Upper		35.62

Day sales outstanding	View graph
Company result	-
Lower	72.85
Median	41.67
Upper	19.80

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.

Ultimate holding company

Safe number	Company name		Company Number
-	-		-

FINANCIAL INFORMATION

Accounts & ratios

Date of latest accounts	Turnover	Profit Before Tax	Net worth
28/02/2011		876,677	4,287,993
28/02/2010		704,980	3,760,610
28/02/2009		1,069,374	3,255,811

Accounts & ratios

Date of latest accounts	Balance Total	Investments	Capital	Cash Flow	Number of Employees
28/02/2011	5,790,849	2,479	100,000	1,502,269	12
28/02/2010	5,206,401	2,479	100,000	1,007,180	15
28/02/2009	4,865,912	2,479	100,000	699,221	13

Profit & loss

Annual accounts	28-02-2011	%	28-02-2010	%	28-02-2009	Industry average 2011	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	-	-	-	-	-	9,414,403	-
Total operating expenses	-	-	-	-	-	8,732,724	-
Operating result	761,239	30.31	584,174	-38.65	952,193	140,092	443
Total financial income	190,378	4.98	181,341	3.42	175,351	50,836	274
Total financial expenses	74,940	23.80	60,534	4.06	58,170	35,807	109
Results on ordinary operations before taxation	876,677	24.35	704,980	-34.08	1,069,374	150,776	481
Taxation	238,044	9.89	216,613	-27.30	297,948	61,577	286
Results on ordinary operations after taxation	638,633	30.77	488,368	-36.69	771,426	107,788	492
Extraordinary items	13,750	-16.32	16,432	179	-9,156	-250,946	5.48
Other appropriations	0.00	-	0.00	-100	1615	-	-
Net result	652,383	29.24	504,800	-33.92	763,885	-142,066	459
other information
Dividends	125,000	-	-	-	-	365,922	-65.84
Director remuneration	-	-	-	-	-	206,855	-
Employee costs	664,196	0.98	657,780	8.85	604,276	544,709	21.94
Wages and salary	493,717	-0.06	494,014	7.99	457,456	386,818	27.64
Employee pension costs	-	-	-	-	-	3,097	-
Social security contributions	131,178	2.24	128,300	10.30	116,323	142,817	-8.15
Other employee costs	39,301	10.81	35,466	16.29	30,497	17,628	122
Amortization and depreciation	176,785	40.49	125,831	-7.76	136,423	83,801	110
back to top

Balance Sheet

Annual accounts	28-02-2011	%	28-02-2010	%	28-02-2009	Industry average 2011	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	0	-	0	-	0	11,625	-100
Tangible fixed assets	468,864	-13.22	540,287	69.45	318,839	532,958	-12.03
Land & building	-	-	-	-	-	656,548	-
Plant & machinery	283,170	-11.60	320,324	182	113,473	88,977	218
Other tangible assets	185,694	-15.58	219,963	7.11	205,366	76,150	143
Financial fixed assets	2,479	0	2,479	0.00	2,479	24,811,810	-99
Total fixed assets	471,343	-13.16	542,766	68.92	321,318	12,661,710	-96.28
Inventories	2,589,363	9.81	2,358,100	24.54	1,893,509	469,237	451
Raw materials & consumables	-	-	-	-	-	858,677	-
Work in progress	0	-	0	-	0	3,590	-100
Finished goods	0	-	0	-	0	112,941	-100
Other stocks	2,589,363	9.81	2,358,100	24.54	1,893,509	145,180	1683
Trade debtors	1,178,299	0.33	1,174,468	-20.91	1,484,971	304,501	286
Cash	1,502,269	49.16	1,007,180	44.04	699,221	122,993	1121
other amounts receivable	49,574	-59.85	123,482	86.55	66,194	392,010	-87.35
Miscellaneous current assets	0	-100	405	-99	400,699	157,055	-100
Total current assets	5,319,506	14.06	4,663,635	2.62	4,544,594	1,252,910	324
current liabilities
Trade creditors	1,196,050	1.30	1,180,659	-12.60	1,350,897	296,487	303
Short term group loans	-	-	-	-	-	-	-
Other short term loans	0	-	0	-	0	97,563	-100
Miscellaneous current liabilities	306,806	15.72	265,131	2.29	259,204	11.82	- -
Total current liabilities	1,502,856	3.95	1,445,790	-10.20	1,610,101	657,237	128
Long term debts
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	-	-	-	-	-	-	- -
Other long term liabilities	0	-	0	-	0	68,950	-100
Total long term debts	0	-	0	-	0	407,651	-100
shareholders equity
Issued share capital	100,000	0	100,000	0	100,000	10,309,852	-99
Share premium account	-	-	-	-	-	-	-
Reserves	4,187,993	14.41	3,660,610	16.00	3,155,811	1,240,163	237
Revaluation reserve	-	-	-	-	-	813,501	-
Total shareholders equity	4,287,993	14.02	3,760,610	15.50	3,255,811	11,575,597	-62.96
Working capital	3,816,650	18.61	3,217,844	9.66	2,934,493	595,673	540
Net worth	4,287,993	14.02	3,760,610	15.50	3,255,811	11,563,972	-62.92

Ratio Analysis

Annual accounts	28-02-2011	change(%)	28-02-2010	change(%)	28-02-2009	Industry average 2011	%
Trading performance
Profit Before Tax	-	-	-	-	-	7,00	-
Return on capital employed	20.44	9.01	18.75	-42.92	32.85	34,00	-39.88
Return on total assets employed	15.14	11.82	13.54	-38.40	21.98	2,00	657
Return on net assets employed	20.44	9.01	18.75	-42.92	32.85	26,00	-21.38
Sales / net working capital	-	-	-	-	-	4,00	-
Stock turnover ratio	-	-	-	-	-	13,00	-
Debtor days	-	-	-	-	-	63,00	-
Creditor days	-	-	-	-	-	55,00	-
short term stability
Current ratio	3.54	9.60	3.23	14.54	2.82	3,00	18.00
Liquidity ratio / acid ratio	1.82	14.47	1.59	-3.64	1.65	3,00	-39.33
Current debt ratio	0.35	-7.89	0.38	-22.45	0.49	3,00	-88.33
Liquidity ratio reprocessed	-	-	-	-	-	-	-
long term stability
Gearing	-	-	-	-	-	118,00	-
Equity in percentage	74.05	2.52	72.23	7.95	66.91	30,00	146
Total debt ratio	0.35	-7.89	0.38	-22.45	0.49	3,00	-88.33

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Industry comparison

Activity code	46731
Activity description	Wholesale of construction materials, general assortment

Companies that match this address

Business number	Company name	Date of accounts
413645018	HOLVOET JULIEN PVBA	31/12/2010

NOTES & COMMENTS

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.