MIRA INFORM REPORT

 

 

Report Date :

18.09.2012

 

IDENTIFICATION DETAILS

 

Name :

BONAS COUZYN (ANTWERP)

 

 

Registered Office :

Pelikaanstraat 62, Antwerpen, 2018

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1966

 

 

Com. Reg. No.:

 404935507

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

Wholesale of other intermediate products

 

 

No. of Employees :

8 employees

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Belgium

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 

 

Bonas Couzyn (Antwerp)

Pelikaanstraat 62

Antwerpen, 2018

Belgium

 

Tel:       03 233 70 80

Fax:      03 225 15 34

 

 

Synthesis     

 

Employees:                  8

Company Type:            Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:             Bc Holding

Incorporation Date:         1966   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Euro

Annual Sales:                25.4  1

Total Assets:                 6.7

 

 

Business Description     

 

Wholesale of other intermediate products

 

Industry             

Industry            Retail (Department and Discount)

ANZSIC 2006:    373 - Furniture, Floor Covering and Other Goods Wholesaling

NACE 2002:      5156 - Wholesale of other intermediate products

NAICS 2002:     4239 - Miscellaneous Durable Goods Merchant Wholesalers

UK SIC 2003:    5156 - Wholesale of other intermediate products

UK SIC 2007:    4676 - Wholesale of other intermediate products

US SIC 1987:    509 - Miscellaneous Durable Goods

 

           


Key Executives   

 

Name

Title

Philip Hoymans

Managing Director

Mody Navinchandra

Administrator

Johan Georges Gaston Zonnekeyn

Administrator

Boudewijn Philemond Callens

Representative/Auditor

Gilbert Jan Arthur Vanheerswynghels

Shareholders' Representative

 

 

Registered No.(VAT):               404935507

 

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

Pelikaanstraat 62

Antwerpen, 2018

Belgium

Tel:       03 233 70 80

Fax:      03 225 15 34

           

Sales EUR(mil):             18.3

Assets EUR(mil):           5.2

Employees:                   8

Fiscal Year End:            31-Dec-2011

Industry:                        Retail (Department and Discount)

Incorporation Date:         1966

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(VAT):     404935507

Managing Director:         Philip Hoymans

 

Contents

Industry Codes

Business Description

Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

373       -          Furniture, Floor Covering and Other Goods Wholesaling

3739     -          Other Goods Wholesaling Not Elsewhere Classified

NACE 2002 Codes:

5156     -          Wholesale of other intermediate products

5147     -          Wholesale of other household goods

 

NAICS 2002 Codes:

4239     -          Miscellaneous Durable Goods Merchant Wholesalers

423990  -          Other Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

509       -          Miscellaneous Durable Goods

5099     -          Durable Goods, Not Elsewhere Classified

 

UK SIC 2003:

5156     -          Wholesale of other intermediate products

51479   -          Wholesale of other household goods not elsewhere classified

 

UK SIC 2007:

4676     -          Wholesale of other intermediate products

46499   -          Wholesale of household goods (other than musical instruments) n.e.c.

 

Business Description

Wholesale of other intermediate products

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

18.3

Assets:

5.2

Current Assets:

4.9

 

Fixed Assets:

0.2

 

Total Liabilities:

5.2

 

Issued Capital:

0.1

 

Net Worth:

0.1

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

NA

 

 

 

Corporate Family

Corporate Structure News:

 

Bonas Couzyn (Antwerp)

Bonas Couzyn (Antwerp) 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Bc Holding

Parent

 

 

 

 

 

 

Bonas Couzyn (Antwerp)

Subsidiary

Antwerpen

Belgium

Retail (Department and Discount)

25.4

8

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Philip Hoymans

 

Managing Director

Managing Director

 

Mody Navinchandra

 

Administrator

Administration Executive

 

Johan Georges Gaston Zonnekeyn

 

Administrator

Administration Executive

 

Age: 53

 

Boudewijn Philemond Callens

 

Representative/Auditor

Accounting Executive

 

 

Age: 66

 

Gilbert Jan Arthur Vanheerswynghels

 

Shareholders' Representative

Shareholder Relations Executive

 

 

Age: 68

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.71919

0.755078

0.719047

Consolidated

No

No

No

 

 

 

 

    Turnover

25.4

15.6

10.4

    Other Operating Income

0.0

0.0

0.0

Operating Income

25.4

15.7

10.5

        Purchases

21.7

13.1

8.8

    Raw Materials, Consumables, and Goods for Release

21.7

13.1

8.8

    Services and Sundry Goods

1.1

0.9

0.9

    Remuneration, Social Security Charges, and Pensions

1.2

1.1

1.1

    Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets

0.1

0.1

0.1

    Increase or Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors

-

-

0.0

    Other Operating Charges

0.0

0.0

0.0

Operating Charges

24.0

15.2

11.0

    Income From Current Assets

0.0

0.1

0.1

    Other Financial Income

0.4

0.2

0.1

Financial Income

0.5

0.3

0.2

    Interest and Other Debt Charges

0.0

0.0

0.0

    Amounts Written Off on Current Assets

0.0

0.0

-

    Other Financial Charges

0.3

0.2

0.1

Financial Charges

0.4

0.2

0.2

    Gain on Disposal of Fixed Assets

0.0

-

-

Extraordinary Income

0.0

-

-

    Income Taxes

0.4

0.0

0.0

    Adjustment of Income Taxes and Write-Back of Tax Provisions

0.1

-

-

Income Taxes

0.3

0.0

0.0

        Return on Capital

0.9

0.4

2.8

    Profit to be Distributed

0.9

0.4

2.8

    Employees

8

8

8

 

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

Consolidated

No

No

No

 

 

 

 

    Intangible Assets

0.0

0.0

0.0

        Plant, Machinery, and Equipment

0.2

0.1

0.2

        Furniture and Vehicles

0.0

0.1

0.1

    Tangible Assets

0.3

0.2

0.2

        Shares

0.0

0.0

0.0

        Amounts Receivable and Cash Guarantees

0.0

0.0

0.0

        Other Capital Assets

0.0

0.0

0.0

    Capital Assets

0.0

0.0

0.0

Fixed Assets

0.3

0.2

0.3

        Other Amounts Receivable

0.0

0.0

0.0

    Amounts Receivable After More Than One Year

0.0

0.0

0.0

        Goods Purchased for Resale

0.0

0.0

0.0

        Stocks

0.0

0.0

0.0

    Inventory and Orders in Progress

0.0

0.0

0.0

        Trade Debtors

1.3

1.7

0.7

        Other Amounts Receivable

0.0

0.0

0.1

    Amounts Receivable Within One Year

1.3

1.8

0.8

        Other Investments and Deposits

3.0

1.8

2.6

    Investments

3.0

1.8

2.6

    Liquid Assets

2.0

2.7

4.2

    Adjustment Accounts

0.0

0.0

0.0

Current Assets

6.4

6.2

7.7

Total Assets

6.7

6.4

8.0

        Issued Capital

0.2

0.2

0.2

    Capital

0.2

0.2

0.2

        Legal Reserve

0.0

0.0

0.0

        Reserves Available for Distribution

1.7

1.8

1.9

    Reserves

1.7

1.8

1.9

Capital and Reserves

4.5

4.3

4.5

        Suppliers

1.2

1.6

0.5

        Trade Debts

1.2

1.6

0.5

        Taxes

0.0

0.0

0.0

        Remuneration and Social Security

0.1

0.1

0.1

        Taxes, Wages, and Social Security

0.1

0.1

0.1

        Other Amounts Payable

0.9

0.4

2.9

    Amounts Payable Within One Year

2.2

2.1

3.4

    Adjustment Accounts

0.0

0.0

0.0

Creditors

2.2

2.1

3.5

Total Liabilities + Shareholders' Equity

6.7

6.4

8.0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.97

UK Pound

1

Rs.87.52

Euro

1

Rs.70.84

 

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

----

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.