MIRA INFORM REPORT
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Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
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Name : |
BELINDIAM |
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Registered Office : |
Hoveniersstraat 30 B.136 Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2012 |
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Year of Incorporation : |
1984 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of other intermediate products. |
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No. of Employees : |
Not Available |
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 |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 and address
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Belindiam |
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Business Description
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Wholesale of other intermediate products |
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Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
4669 - Wholesale of waste and scrap and other products n.e.c. |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Registered No.(VAT): 425279276
1 - Profit & Loss Item
Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566
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Executives Report
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Annual Profit & Loss |
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Financials in: USD (mil) |
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Turnover |
11.8 |
16.9 |
12.2 |
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Other Operating Income |
- |
- |
0.0 |
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Operating Income |
11.8 |
16.9 |
12.2 |
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Purchases |
12.8 |
16.7 |
11.4 |
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Increase or Decrease in Stocks |
-1.6 |
-0.4 |
0.3 |
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Raw Materials, Consumables, and Goods for Release |
11.3 |
16.3 |
11.7 |
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Services and Sundry Goods |
0.1 |
0.2 |
0.1 |
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Remuneration, Social Security Charges, and Pensions |
0.0 |
0.0 |
0.0 |
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Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
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Other Operating Charges |
0.0 |
0.0 |
0.0 |
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Operating Charges |
11.4 |
16.5 |
11.9 |
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Other Financial Income |
0.0 |
0.0 |
0.0 |
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Financial Income |
0.0 |
0.0 |
0.0 |
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Interest and Other Debt Charges |
0.3 |
0.3 |
0.3 |
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Other Financial Charges |
0.0 |
0.0 |
0.0 |
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Financial Charges |
0.4 |
0.4 |
0.4 |
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Other Extraordinary Charges |
0.0 |
- |
- |
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Extraordinary Charges |
0.0 |
- |
- |
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Income Taxes |
0.0 |
0.0 |
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 |
0.0 |
- |
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To Other Reserves |
0.0 |
0.0 |
0.0 |
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Transfers to Capital and Reserves |
0.0 |
0.0 |
0.0 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Land & Buildings |
0.1 |
0.1 |
0.1 |
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Plant, Machinery, and Equipment |
0.0 |
0.0 |
- |
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Furniture and Vehicles |
0.0 |
0.0 |
0.0 |
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Tangible Assets |
0.1 |
0.1 |
0.1 |
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Amounts Receivable and Cash Guarantees |
0.0 |
0.0 |
0.0 |
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Other Capital Assets |
0.0 |
0.0 |
0.0 |
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Capital Assets |
0.0 |
0.0 |
0.0 |
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Fixed Assets |
0.1 |
0.1 |
0.1 |
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Goods Purchased for Resale |
5.0 |
3.3 |
3.1 |
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Stocks |
5.0 |
3.3 |
3.1 |
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Inventory and Orders in Progress |
5.0 |
3.3 |
3.1 |
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Trade Debtors |
7.1 |
7.5 |
5.9 |
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Other Amounts Receivable |
0.0 |
0.0 |
0.0 |
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Amounts Receivable Within One Year |
7.1 |
7.5 |
5.9 |
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Liquid Assets |
0.0 |
0.0 |
0.0 |
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Adjustment Accounts |
0.0 |
0.0 |
0.0 |
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Current Assets |
12.1 |
10.8 |
9.0 |
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Total Assets |
12.2 |
10.9 |
9.1 |
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Issued Capital |
0.3 |
0.3 |
0.3 |
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Capital |
0.3 |
0.3 |
0.3 |
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Legal Reserve |
0.0 |
0.0 |
0.0 |
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Other |
1.1 |
1.1 |
1.1 |
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Reserves Not Available for Distribution |
1.1 |
1.1 |
1.1 |
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Reserves Available for Distribution |
0.3 |
0.3 |
0.3 |
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Reserves |
1.5 |
1.4 |
1.5 |
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Capital and Reserves |
1.8 |
1.7 |
1.8 |
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Other Loans |
1.1 |
1.1 |
1.1 |
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Financial Debts |
1.1 |
1.1 |
1.1 |
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Amounts Due After More Than One Year |
1.1 |
1.1 |
1.1 |
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Credit Institutions |
4.0 |
5.2 |
3.6 |
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Other Loans |
0.7 |
0.7 |
0.7 |
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Financial Debts |
4.8 |
5.9 |
4.3 |
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Suppliers |
4.2 |
1.9 |
1.7 |
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Trade Debts |
4.2 |
1.9 |
1.7 |
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Advances Received on Orders in Progress |
0.1 |
0.1 |
0.1 |
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Taxes |
0.0 |
0.0 |
0.0 |
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Taxes, Wages, and Social Security |
0.0 |
0.0 |
0.0 |
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Amounts Payable Within One Year |
9.1 |
7.9 |
6.1 |
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Adjustment Accounts |
0.2 |
0.2 |
0.2 |
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Creditors |
10.4 |
9.2 |
7.4 |
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Total Liabilities + Shareholders' Equity |
12.2 |
10.9 |
9.1 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.79 |
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1 |
Rs.100.70 |
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Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
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Report
Prepared by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.