MIRA INFORM REPORT

Report Date :

07.01.2013

IDENTIFICATION DETAILS

Name :	GLOBAL IMPACT NV
Registered Office :	Slingerweg 13 Genk 3600
Country :	Belgium
Financials (as on) :	31.12.2011
Date of Incorporation :	05.02.1996
Com. Reg. No.:	457174361
Legal Form :	Public Limited Liability Company (BE)
Line of Business :	Wholesale of apparel accessories
No. of Employees :	15

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

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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
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

Business number	457174361	Company name	GLOBAL IMPACT NV
		Telephone number	089328880
Address	SLINGERWEG 13 GENK	Fax number	089328889
Post code	3600	Number of staff	15
Date of establishment	05/02/1996

Ultimate holding company

Company name	Company Number
International Hosiery Group NV	819147875

Accounts & ratios

Date of latest accounts	Turnover	Profit Before Tax	Net worth
31/12/2011	17,430,944	1,060,923	2,858,821
31/12/2010	16,521,609	281,181	2,209,456
31/12/2009	14,371,195	733,558	2,073,078

Accounts & ratios

Date of latest accounts	Balance Total	Investments	Capital	Cash Flow	Number of Employees
31/12/2011	6,984,466	87,915	65,000	1,958	15
31/12/2010	6,756,606	75,450	65,000	113,348	15
31/12/2009	5,575,626	953	65,000	879,544	13

Trends

Profitability
Liquidity
Net worth

Payment expectations

Past payments		Payment expectation days	18.27
Industry average payment expectation days	112.57	Industry average day sales outstanding	72.80
Day sales outstanding	49.53

H

e you got a payment experience on this or any other customers you could share with us? Contribute

Court data summary

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

Business number	457174361	Company name	GLOBAL IMPACT NV
Fax number	089328889	Date founded	05/02/1996
Company status	active	Company type	Public Limited Liability Company (BE)
Currency	Euro (€)	Date of latest accounts	31/12/2011
Activity code	46424	liable for VAT	yes
Activity description	Wholesale of apparel accessories	VAT Number	BE.0457.174.361
Belgian Bullettin of Acts Publications	moniteur belge

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	20/06/2008
Event Description	re-appointment of director(s)
Event Details	Commentaar 20-06-2008: Herbenoeming bestuurders voor een periode van 6jaar: MCS BVBA, Hendrikx Tom (tevens gedelegeerd bestuurder) en Hendrikx Kim (tevens gedelegeerd bestuurder).

Event Date	31/03/2010
Event Description
Event Details	De aandelen aan toonder worden omgezet in aandelen op naam.

Event Date	08/10/2009
Event Description
Event Details	Mededeling vereniging alle aandelen in één hand: De enige houder van alle aandelen is: International Hosiery Group NV.

Export accounts to CSV file

comparison mode

average

median

Profit & loss

	Annual accounts	31-12-2011	%	31-12-2010	%	31-12-2009	Industry average 2011	%
	Weeks	52		52		52
	Currency	EUR		EUR		EUR
	Turnover	17,430,944	5.50	16,521,609	14.96	14,371,195	2,946,947	491
	Total operating expenses	16,128,545	1.88	15,831,185	18.68	13,339,295	2,739,045	488
	Operating result	1,302,399	88.64	690,424	-33.09	1,031,900	59,639	2083
	Total financial income	166,519	-30.63	240,057	7.64	223,010	15,696	960
	Total financial expenses	407,995	-37.16	649,300	24.54	521,352	49,178	729
	Results on ordinary operations before taxation	1,060,923	277	281,181	-61.67	733,558	27,148	3807
	Taxation	311,151	566	46,716	-79.93	232,779	59,390	423
	Results on ordinary operations after taxation	749,772	219	234,465	-53.18	500,779	-6,877	10902
	Extraordinary items	2,731	-68.50	8,671	-87.44	69,014	18,705	-85.40
	Other appropriations	0	-	0	-	0	-	-
	Net result	752,503	209	243,136	-57.33	569,793	4,186	17876
	other information
	Dividends	-	-	-	-	-	48,750	-
	Director remuneration	-	-	-	-	30,000	-	-
	Employee costs	913,565	19.83	762,363	-16.28	910,573	219,386	316
	Wages and salary	661,263	21.45	544,487	-10.20	606,311	178,725	269
	Employee pension costs	-	-	-	-	-	0	-
	Social security contributions	186,146	29.09	144,204	-18.13	176,143	44,812	315
	Other employee costs	66,156	-10.20	73,672	-42.50	128,119	5,930	1015
	Amortization and depreciation	150,142	-6.27	160,192	-15.23	188,979	55,414	170

balance sheet

	Annual accounts	31-12-2011	%	31-12-2010	%	31-12-2009	Industry average 2011	%
	Weeks	52		52		52
	Currency	EUR		EUR		EUR
	Intangible fixed assets	0	-	0	-	0	2,814	-100
	Tangible fixed assets	854,170	-1.07	863,395	-9.05	949,294	701,280	21.80
	Land & building	652,429	-9.63	721,952	-9.74	799,847	1,138,388	-42.69
	Plant & machinery	7,094	-31.30	10,326	-26.37	14,024	38,068	-81.36
	Other tangible assets	194,647	48.45	131,117	-3.18	135,423	26,267	641
	Financial fixed assets	87,915	16.52	75,450	7817	953	1,373,358	-93.60
	Total fixed assets	942,085	0.35	938,845	-1.20	950,247	1,561,911	-39.68
	Inventories	1,626,366	31.35	1,238,169	-18.43	1,517,895	242,369	571
	Raw materials & consumables	-	-	-	-	-	-	-
	Work in progress	0	-	0	-	0	1,294	-100
	Finished goods	1,626,366	31.35	1,238,169	-18.43	1,517,895	44,230	3577
	Other stocks	0	-	0	-	0	60,513	-100
	Trade debtors	2,365,394	-16.76	2,841,601	36.75	2,077,989	106,967	2111
	Cash	1,958	-98.27	113,348	-87.11	879,544	139,895	-98.60
	other amounts receivable	841,581	52.38	552,274	1570	33,056	319,559	163
	Miscellaneous current assets	1,207,082	12.56	1,072,369	817	116,895	97,796	1134
	Total current assets	6,042,381	3.86	5,817,761	25.78	4,625,379	758,596	696
	current liabilities
	Trade creditors	807,506	-19.89	1,007,973	26.05	799,652	173,188	366
	Short term group loans	-	-	-	-	-	-	-
	Other short term loans	2,340,426	-9.21	2,577,912	67.48	1,539,258	235,148	895
	Miscellaneous current liabilities	329,793	20.09	274,626	-27.79	380,322	64.89	- -
	Total current liabilities	3,477,725	-9.92	3,860,511	41.97	2,719,232	574,064	505
	Long term debts
	Long term group loans	-	-	-	-	-	-	- -
	Other long term loans	647,920	-5.64	686,639	-12.34	783,316	-3.27	- -
	Other long term liabilities	0	-	0	-	0	264,872	-100
	Total long term debts	647,920	-5.64	686,639	-12.34	783,316	606,757	6.78
	shareholders equity
	Issued share capital	65,000	0	65,000	0	65,000	573,529	-88.67
	Share premium account	-	-	-	-	-	80,528	-
	Reserves	2,793,821	30.28	2,144,456	6.79	2,008,078	295,138	846
	Revaluation reserve	-	-	-	-	-	1,520,089	-
	Total shareholders equity	2,858,821	29.39	2,209,456	6.58	2,073,078	879,367	225
	Working capital	2,564,656	31.03	1,957,250	2.68	1,906,147	184,532	1289
	Net worth	2,858,821	29.39	2,209,456	6.58	2,073,078	876,553	226
	back to top

ratio analysis

	Annual accounts	31-12-2011	change(%)	31-12-2010	change(%)	31-12-2009	Industry average 2011	%
	Trading performance
	Profit Before Tax	6.09	258	1.70	-66.67	5.10	-7,00	87.00
	Return on capital employed	30.25	211	9.71	-62.19	25.68	6,00	404
	Return on total assets employed	15.19	265	4.16	-68.39	13.16	-339,00	4.48
	Return on net assets employed	37.11	191	12.73	-64.02	35.38	30,00	23.70
	Sales / net working capital	6.80	-19.43	8.44	11.94	7.54	8,00	-99
	Stock turnover ratio	9.33	24.57	7.49	-29.07	10.56	46,00	-79.72
	Debtor days	49.53	-21.11	62.78	18.95	52.78	54,00	-8.28
	Creditor days	18.27	-21.39	23.24	6.22	21.88	116,00	-84.25
	short term stability
	Current ratio	1.74	15.23	1.51	-11.18	1.70	4,00	74.00
	Liquidity ratio / acid ratio	1.27	6.72	1.19	4.39	1.14	4,00	-68.25
	Current debt ratio	1.22	-30.29	1.75	33.59	1.31	1,00	22.00
	Liquidity ratio reprocessed	-	-	-	-	-	-	-
	long term stability
	Gearing	104.53	-29.25	147.75	31.87	112.04	164,00	-36.26
	Equity in percentage	40.93	25.17	32.70	-12.05	37.18	-1.518,00	2.70
	Total debt ratio	1.44	-30.10	2.06	21.89	1.69	1,00	44.00

Industry comparison

Activity code	46424
Activity description	Wholesale of apparel accessories
industry average credit rating	58.53
Industry average credit limit	21941.20

Suspension of payments / moratorium history

Amount	-
Details	-

Payment expectations

Payment expectation days	18.27
Day sales outstanding	49.53

Industry comparison

Activity code	46424
Activity description	Wholesale of apparel accessories
Industry average payment expectation days	112.57
Industry average day sales outstanding	72.80

Industry quartile analysis

Payment expectations
Company result	18.27
Lower	75.96
Median	32.39
Upper	9.84
Day sales outstanding
Company result	49.53
Lower	102.59
Median	48.28
Upper	16.92

Summary

Group - Number of Companies	2
Linkages - Number of Companies	0
Number of Countries	0

Group Structure

Company name	Number	Latest financials
- INTERNATIONAL HOSIERY GROUP NV	819147875	31-12-2011
- - GLOBAL IMPACT NV	457174361	31-12-2011

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Companies that match this address

no Companies Match this address

Protested bills

Drawee name	-
Address	-
Bill amount	-
Bill currency	-
Maturity of bill	-
Name of drawer	-
City of drawer	-

NSSO details

Business number	457174361
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

Current director details

Name	MAAR BVBA
Position	Legal Representative
Start Date	06/10/2009
Date of birth	04/09/2009
Street	46 STATIONSSTRAAT HOUTHALEN-HELCHTEREN
Post code	3530
Country	Belgium
Name	MAAR BVBA
Position	Director
Start Date	06/10/2009
Date of birth	04/09/2009
Street	46 STATIONSSTRAAT HOUTHALEN-HELCHTEREN
Post code	3530
Country	Belgium

Name	MAAR BVBA
Position	Managing Director
Start Date	06/10/2009
End Date	06/10/2015
Date of birth	04/09/2009
Street	46 STATIONSSTRAAT HOUTHALEN-HELCHTEREN
Post code	3530
Country	Belgium
Name	NOOKA BVBA
Position	Legal Representative
Start Date	06/10/2009
Date of birth	04/09/2009
Street	5 KRETENVELDWEG ZONHOVEN
Post code	3520
Country	Belgium

Name	NOOKA BVBA
Position	Director
Start Date	06/10/2009
Date of birth	04/09/2009
Street	5 KRETENVELDWEG ZONHOVEN
Post code	3520
Country	Belgium
Name	NOOKA BVBA
Position	Managing Director
Start Date	06/10/2009
End Date	06/10/2015
Date of birth	04/09/2009
Street	5 KRETENVELDWEG ZONHOVEN
Post code	3520
Country	Belgium

Name	INTERNATIONAL HOSIERY GROUP NV
Position	Legal Representative
Start Date	06/10/2009
Date of birth	30/09/2009
Street	273 TERVURENLAAN BRUSSEL
Post code	1150
Country	Belgium
Name	INTERNATIONAL HOSIERY GROUP NV
Position	Director
Start Date	06/10/2009
Date of birth	30/09/2009
Street	273 TERVURENLAAN BRUSSEL
Post code	1150
Country	Belgium

Name	INTERNATIONAL HOSIERY GROUP NV
Position	Managing Director
Start Date	06/10/2009
End Date	06/10/2015
Date of birth	30/09/2009
Street	273 TERVURENLAAN BRUSSEL
Post code	1150
Country	Belgium
Name	E-CAPITAL EQUITY MANAGEMENT SCRL
Position	Legal Representative
Start Date	06/10/2009
Date of birth	16/03/2007
Street	273 TERVURENLAAN BRUSSEL
Post code	1150
Country	Belgium

Name	E-CAPITAL EQUITY MANAGEMENT SCRL
Position	Chairman of the Board
Start Date	06/10/2009
Date of birth	16/03/2007
Street	273 TERVURENLAAN BRUSSEL
Post code	1150
Country	Belgium
Name	E-CAPITAL EQUITY MANAGEMENT SCRL
Position	Director
Start Date	06/10/2009
End Date	06/10/2015
Date of birth	16/03/2007
Street	273 TERVURENLAAN BRUSSEL
Post code	1150
Country	Belgium

Former director details

Name	MANAGEMENT CONSULTING SERVICES BVBA
Position	Director
Start Date	20/06/2008
End Date	31/12/2011
Date of birth	01/02/1983
Street	11 WALENSTRAAT HASSELT
Post code	3500
Country	Belgium
Name	MANAGEMENT CONSULTING SERVICES BVBA
Position	Legal Representative
Start Date	20/06/2008
End Date	-
Date of birth	01/02/1983
Street	11 WALENSTRAAT HASSELT
Post code	3500
Country	Belgium

Name	KIM BERT HENDRIKX
Position	Managing Director
Start Date	20/06/2008
End Date	-
Date of birth	18/12/1972
Street	46 STATIONSSTRAAT HOUTHALEN-HELCHTEREN
Post code	3530
Country	Belgium
Name	KIM BERT HENDRIKX
Position	Director
Start Date	20/06/2008
End Date	-
Date of birth	18/12/1972
Street	46 STATIONSSTRAAT HOUTHALEN-HELCHTEREN
Post code	3530
Country	Belgium

Name	TOM JOS HENDRIKX
Position	Managing Director
Start Date	20/06/2008
End Date	-
Date of birth	30/09/1971
Street	5 KRETENVELDWEG ZONHOVEN
Post code	3520
Country	Belgium
Name	TOM JOS HENDRIKX
Position	Director
Start Date	20/06/2008
End Date	-
Date of birth	30/09/1971
Street	5 KRETENVELDWEG ZONHOVEN
Post code	3520
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.84
UK Pound	1	Rs.88.16
Euro	1	Rs.71.54

INFORMATION DETAILS

Report Prepared by :

SDA

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.