MIRA INFORM REPORT

Report Date :

12.11.2013

IDENTIFICATION DETAILS

Name :	RAGOLLE RUGS NV

Registered Office :	Vichtseweg 129, 8790 Waregem

Country :	Belgium

Date of Incorporation :	15.10.2012

Legal Form :	Public Limited Liability Company (BE)

Line of Business :	Retail sale of other household articles in specialised stores

No. of Employees :	20 to 49

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Business

Payment Behaviour :	Unknown

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 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Belgium

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 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 and address

Top of Form

Business number	849622505
Company name	RAGOLLE RUGS NV
Address	VICHTSEWEG 129
	8790 WAREGEM
Date of establishment	15/10/2012
Telephone number	056777479
Fax number

Commentary

The business has 20 employees.
The business has been at the address for over 12 months.
There has been no significant change in the business's credit limit.
The credit rating for this business has increased from 23 to 25.

Accounts

No key Financials Registered

Payment expectations

Past payments		Payment expectation days	-
Industry average payment expectation days	68.10	Industry average day sales outstanding	76.67

Court data summary

Bankruptcy details
Court action type	No
Protested bills
Bill amount	-
NSSO details
Date of summons	-
Business number	849622505	Company name	RAGOLLE RUGS NV
Fax number		Date founded	15/10/2012
Company status	active	Company type	Public Limited Liability Company (BE)
Currency	Euro (€)	Date of latest accounts	-
Activity code	47599	liable for VAT	yes
Activity description	Retail sale of other household articles in specialised stores	VAT Number	BE.0849.622.505
Belgian Bullettin of Acts Publications	moniteur belge

Personnel (NSSO classification)

Code	-
Description	FROM 20 TO 49 EMPLOYEES

Joint Industrial Committee (JIC)

Significant Events

Event Date	28/02/2013
Event Description
Event Details	Aan de aandeelhouders van NV Ragolle worden de 11160 nieuwe aandelen toegekend.

Industry comparison

Activity code	47599
Activity description	Retail sale of other household articles in specialised stores
industry average credit rating	68.76
Industry average credit limit	8889.52

Industry comparison

Activity code	47599
Activity description	Retail sale of other household articles in specialised stores
Industry average payment expectation days	68.10
Industry average day sales outstanding	76.67

Industry quartile analysis

Payment expectations
Company result	-
Lower	71.11
Median	31.09
Upper	8.30


Day sales outstanding
Company result	-
Lower	72.83
Median	33.48
Upper	13.01

Group Structure

No group structure for this company.

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Companies that match this address

no Companies Match this address

Bankruptcy details

There is no bankruptcy data against this company

court data

there is no data for this company

Current director details

Name	JEAN-MARIE ANDRÉ MARC RAGOLLE
Position	Director
Start Date	15/10/2012
Street	72 BLAUWE-ZWAANSTRAAT WAREGEM
Post code	8790
Country	Belgium

Name	HERMAN JOZEF HENDRIK VERHELST
Position	Managing Director
Start Date	15/10/2012
Date of birth	07/03/1957
Street	12 PETEGEMSTRAAT ANZEGEM
Post code	8570
Country	Belgium

Name	HERMAN JOZEF HENDRIK VERHELST
Position	Director
Start Date	15/10/2012
Date of birth	07/03/1957
Street	12 PETEGEMSTRAAT ANZEGEM
Post code	8570
Country	Belgium

Name	MYRIAM JENNY ZULMA RAGOLLE
Position	Managing Director
Start Date	15/10/2012
Date of birth	07/08/1959
Street	12 PETEGEMSTRAAT ANZEGEM
Post code	8570
Country	Belgium

Name	MYRIAM JENNY ZULMA RAGOLLE
Position	Director
Start Date	15/10/2012
Date of birth	07/08/1959
Street	12 PETEGEMSTRAAT ANZEGEM
Post code	8570
Country	Belgium

Name	MYRIAM JENNY ZULMA RAGOLLE
Position	Chairman of the Board
Start Date	11/10/2012
Date of birth	07/08/1959
Street	12 PETEGEMSTRAAT ANZEGEM
Post code	8570
Country	Belgium

Name	JEAN?MARIE RAGOLLE
Position	Director
Start Date	15/10/2012
Street
Post code
Country

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.29
UK Pound	1	Rs.101.36
Euro	1	Rs.84.59

INFORMATION DETAILS

Report Prepared by :

PDT

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%)

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