MIRA
INFORM REPORT
|
Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
BEL FIBRES |
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Registered Office : |
Pav de Monte en Peine 2, Hyon, 7022 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2011 |
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Year of Establishments: |
1999 |
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Com. Reg. No.: |
466265538 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Recycling of non-metal waste and scrap |
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No. of Employees : |
44 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 1.8%, the
unemployment rate decreased slightly to 7.2% 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 and 3.3% in 2012. Fourth quarter GDP growth in 2012 was at -0.1%,
the third consecutive quarter of negative growth. This brought economic growth
for the whole of 2012 to negative 0.2%. It also left Belgium on the brink of a
possible recession at the end of 2012. However, at year's end, the government
appeared close to meeting its 2012 budget deficit goal of 3% of GDP. Despite
the relative improvement in Belgium's budget deficit, public debt hovers around
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 retail arm of a Franco-Belgian bank.
|
Source : CIA |
Company name & address
Bel Fibres
Pav de Monte en Peine 2
Hyon, 7022
Belgium
Tel: 065 76 09 60
Fax: 065 76 09 65
Synthesis
Employees: 44
Company Type: Private Independent
Incorporation Date: 1999
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 55.8
1
Total Assets: 14.6
Business Description
Recycling of non-metal waste and scrap
Industry
Industry Waste Management Services
ANZSIC 2006: 29 - Waste
Collection, Treatment and Disposal Services
NACE 2002: 3720 - Recycling
of non-metal waste and scrap
NAICS 2002: 562920 - Materials
Recovery Facilities
UK SIC 2003: 3720 - Recycling
of non-metal waste and scrap
UK SIC 2007: 3832 - Recovery of
sorted materials
US SIC 1987: 4953 - Refuse
Systems
Key Executives
|
Name |
Title |
|
Maria Johanna Gommans |
Partner |
|
Johan Alfons Jules Scholiers |
Partner |
|
Christian Neveux |
Representative/Auditor |
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
Pav de Monte en Peine 2
Hyon, 7022
Belgium
Tel: 065 76 09 60
Fax: 065 76 09 65
Sales EUR(mil): 40.2
Assets EUR(mil): 11.2
Employees: 44
Fiscal Year End: 31-Dec-2011
Industry: Waste
Management Services
Incorporation Date: 1999
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(VAT): 466265538
Partner: Maria
Johanna Gommans
Industry Codes
ANZSIC 2006 Codes:
29 - Waste Collection, Treatment and
Disposal Services
NACE 2002 Codes:
3720 - Recycling of non-metal waste and scrap
37 - Recycling
NAICS 2002 Codes:
562920 - Materials Recovery Facilities
US SIC 1987:
4953 - Refuse Systems
UK SIC 2003:
3720 - Recycling of non-metal waste and scrap
37 - Recycling
UK SIC 2007:
3832 - Recovery of sorted materials
383 - Materials recovery
Business
Description
Recycling of non-metal waste and scrap
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Executive report
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Executives |
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Representative/Auditor |
Accounting Executive |
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Partner |
Partner |
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Partner |
Partner |
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Annual profit & loss
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|
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 |
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Turnover |
55.8 |
45.6 |
32.3 |
|
Other Operating Income |
0.5 |
0.3 |
0.2 |
|
Operating Income |
56.4 |
45.9 |
32.5 |
|
Purchases |
36.4 |
25.4 |
16.3 |
|
Increase or Decrease
in Stocks |
-0.5 |
1.2 |
-1.1 |
|
Raw Materials, Consumables, and Goods for
Release |
35.9 |
26.6 |
15.2 |
|
Services and Sundry Goods |
14.4 |
13.7 |
12.3 |
|
Remuneration, Social Security Charges, and
Pensions |
3.0 |
2.2 |
2.0 |
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Depreciation of and Other Amounts Written Off
of Formation Expense, Intangible and Tangible Fixed Assets |
2.7 |
2.3 |
2.4 |
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Increase or Decrease in Amounts Written Off
Stocks, Orders, and Trade Debtors |
- |
0.2 |
0.1 |
|
Provisions for Liabilities and Charges |
0.0 |
0.1 |
- |
|
Other Operating Charges |
0.1 |
0.1 |
0.1 |
|
Operating Charges |
56.1 |
45.2 |
32.2 |
|
Income From Current Assets |
0.0 |
0.0 |
0.1 |
|
Other Financial Income |
0.3 |
0.3 |
0.6 |
|
Financial Income |
0.4 |
0.3 |
0.7 |
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Interest and Other Debt Charges |
0.1 |
0.1 |
0.0 |
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Other Financial Charges |
0.4 |
0.4 |
0.6 |
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Financial Charges |
0.5 |
0.5 |
0.7 |
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Gain on Disposal of Fixed Assets |
0.0 |
- |
0.0 |
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Other Extraordinary Income |
- |
0.0 |
- |
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Extraordinary Income |
0.0 |
0.0 |
0.0 |
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Other Extraordinary Charges |
0.0 |
- |
- |
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Extraordinary Charges |
0.0 |
- |
- |
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Transfer from Differed Taxes |
0.0 |
0.1 |
0.1 |
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Income Taxes |
0.0 |
0.2 |
0.0 |
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Adjustment of Income Taxes and Write-Back of
Tax Provisions |
0.0 |
0.0 |
0.0 |
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Income Taxes |
0.0 |
0.2 |
0.0 |
|
Transfer from Untaxed Reserves |
0.1 |
0.1 |
0.1 |
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To Other Reserves |
0.2 |
0.3 |
0.5 |
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Transfers to Capital and Reserves |
0.2 |
0.3 |
0.5 |
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Return on Capital |
- |
0.3 |
- |
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Profit to be Distributed |
- |
0.3 |
- |
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Employees |
44 |
42 |
37 |
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 |
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Consolidated |
No |
No |
No |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
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Land & Buildings |
2.4 |
2.6 |
3.1 |
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Plant, Machinery, and
Equipment |
3.0 |
2.7 |
3.3 |
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Furniture and Vehicles |
0.6 |
0.3 |
0.4 |
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Leasing and Other
Similar Rights |
0.4 |
1.7 |
2.2 |
|
Tangible Assets |
6.4 |
7.3 |
9.0 |
|
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 |
6.4 |
7.4 |
9.0 |
|
Other Amounts
Receivable |
0.0 |
- |
- |
|
Amounts Receivable After More Than One Year |
0.0 |
- |
- |
|
Goods Purchased for
Resale |
1.2 |
0.8 |
2.1 |
|
Stocks |
1.2 |
0.8 |
2.1 |
|
Inventory and Orders in Progress |
1.2 |
0.8 |
2.1 |
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Trade Debtors |
5.0 |
5.8 |
4.8 |
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Other Amounts
Receivable |
1.6 |
2.0 |
1.8 |
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Amounts Receivable Within One Year |
6.6 |
7.9 |
6.5 |
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Liquid Assets |
0.2 |
0.5 |
0.3 |
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Adjustment Accounts |
0.1 |
0.1 |
0.1 |
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Current Assets |
8.2 |
9.2 |
9.1 |
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Total Assets |
14.6 |
16.6 |
18.1 |
|
Issued Capital |
0.1 |
0.1 |
0.1 |
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Capital |
0.1 |
0.1 |
0.1 |
|
Legal Reserve |
0.0 |
0.0 |
0.0 |
|
Untaxed Reserves |
0.2 |
0.3 |
0.4 |
|
Reserves Available for
Distribution |
1.7 |
1.5 |
1.3 |
|
Reserves |
1.9 |
1.8 |
1.7 |
|
Major Repairs and
Maintenance |
0.1 |
0.1 |
- |
|
Other Liabilities and
Charges |
0.1 |
- |
- |
|
Provisions for
Liabilities and Charges |
0.1 |
0.1 |
- |
|
Deferred Taxation |
0.2 |
0.2 |
0.3 |
|
Provisions and Deferred Taxes |
0.3 |
0.3 |
0.3 |
|
Capital and Reserves |
2.8 |
3.1 |
2.7 |
|
Subordinated Loans |
0.5 |
0.7 |
0.9 |
|
Leasing and Other
Similar Obligations |
0.3 |
0.6 |
0.8 |
|
Credit Institutions |
1.1 |
1.2 |
1.7 |
|
Other Loans |
0.0 |
0.0 |
0.0 |
|
Financial Debts |
2.0 |
2.6 |
3.5 |
|
Other Amounts Payable |
- |
- |
0.1 |
|
Amounts Due After More Than One Year |
2.0 |
2.6 |
3.6 |
|
Current Portion of Amounts
Payable After More Than One Year |
2.1 |
2.6 |
3.0 |
|
Suppliers |
7.2 |
7.3 |
8.3 |
|
Trade Debts |
7.2 |
7.3 |
8.3 |
|
Taxes |
- |
0.2 |
0.0 |
|
Remuneration and
Social Security |
0.2 |
0.2 |
0.2 |
|
Taxes, Wages, and
Social Security |
0.2 |
0.4 |
0.2 |
|
Other Amounts Payable |
- |
0.3 |
- |
|
Amounts Payable Within One Year |
9.5 |
10.5 |
11.5 |
|
Adjustment Accounts |
0.0 |
0.1 |
0.1 |
|
Creditors |
11.5 |
13.1 |
15.2 |
|
Total Liabilities + Shareholders' Equity |
14.6 |
16.6 |
18.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
UK Pound |
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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 |
|
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.