MIRA INFORM REPORT
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Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
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Name : |
BONAS TEXTILE MACHINERY |
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Registered Office : |
Michel Vandewielestraat 7, Marke, 8510 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2011 |
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Year of Establishments: |
2003 |
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Com. Reg. No.: |
479941548 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Wholesaler of machinery for the textile industry,
& sewing & knitting machines |
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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 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
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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.
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Source : CIA |
Company name & address
Bonas Textile Machinery
Michel Vandewielestraat 7
Marke, 8510
Belgium
Tel:
056 24 32 11
Synthesis
Employees:
NA
Company Type:
Private Independent
Incorporation Date:
2003
Financials in:
USD (Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency:
Euro
Annual Sales:
21.4 1
Total Assets:
6.9
Business Description
Wholesale of machinery for the textile industry,
& sewing & knitting machines
Industry
Industry
Machinery Wholesale
ANZSIC 2006: 3419 - Other Specialised Industrial
Machinery and Equipment Wholesaling
ISIC Rev 4: 4659 - Wholesale of other machinery and
equipment
NACE Rev 2: 4664 - Wholesale of machinery for the textile
industry and of sewing and knitting machines
NAICS 2012: 423830 - Industrial Machinery and
Equipment Merchant Wholesalers
UK SIC 2007: 4664 - Wholesale of machinery for the
textile industry and of sewing and knitting machines
US SIC 1987: 5084 - Industrial Machinery and Equipment
Key Executives
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Name |
Title |
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Charles Lambert Marie F G Beauduin |
Administrator, Partner |
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Germain Amoys |
Administrator |
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Bernadette De Bethune |
Administrator |
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Jean-Michel Dalle |
Representative/Auditor |
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Tony Rudy Marcel Moreels |
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
Michel
Vandewielestraat 7
Marke, 8510
Belgium
Tel: 056 24 32 11
Sales EUR(mil): 15.4
Assets EUR(mil): 5.3
Employees: NA
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous Capital
Goods
Incorporation
Date: 2003
Company Type: Private Independent
Quoted Status: Not Quoted
Registered
No.(VAT): 479941548
Administrator, Partner:
Lucien Charles
Antoine Beauduin
Industry Codes
ANZSIC 2006
Codes:
3419 - Other
Specialised Industrial Machinery and Equipment Wholesaling
ISIC Rev 4 Codes:
4659 - Wholesale
of other machinery and equipment
NACE Rev 2 Codes:
4664 - Wholesale
of machinery for the textile industry and of sewing and knitting machines
NAICS 2012 Codes:
423830 - Industrial
Machinery and Equipment Merchant Wholesalers
US SIC 1987:
5084 - Industrial
Machinery and Equipment
UK SIC 2007:
4664 - Wholesale
of machinery for the textile industry and of sewing and knitting machines
Business Description
Wholesale of
machinery for the textile industry, & sewing & knitting machines
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Executive report
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Executives |
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Administrator |
Administration Executive |
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Administrator, Partner |
Administration Executive |
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Administrator, Partner |
Administration Executive |
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Administrator |
Administration Executive |
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Representative/Auditor |
Accounting Executive |
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Representative/Auditor |
Accounting Executive |
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Annual profit
& loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Turnover |
21.4 |
26.7 |
18.3 |
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Other Operating Income |
2.0 |
2.0 |
2.0 |
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Operating Income |
23.5 |
28.7 |
20.3 |
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Purchases |
17.8 |
21.6 |
15.3 |
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Increase or Decrease
in Stocks |
-0.3 |
0.1 |
0.2 |
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Raw Materials, Consumables, and Goods for
Release |
17.5 |
21.8 |
15.6 |
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Services and Sundry Goods |
6.3 |
5.7 |
5.2 |
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Depreciation of and Other Amounts Written Off
of Formation Expense, Intangible and Tangible Fixed Assets |
- |
0.0 |
0.0 |
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Increase or Decrease in Amounts Written Off
Stocks, Orders, and Trade Debtors |
-0.3 |
0.1 |
-0.2 |
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Provisions for Liabilities and Charges |
-0.4 |
0.2 |
0.1 |
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Other Operating Charges |
0.0 |
0.0 |
0.0 |
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Operating Charges |
23.0 |
27.7 |
20.7 |
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Income From Current Assets |
0.0 |
0.0 |
0.0 |
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Other Financial Income |
0.2 |
0.1 |
0.2 |
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Financial Income |
0.2 |
0.2 |
0.2 |
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Interest and Other Debt Charges |
0.0 |
- |
- |
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Other Financial Charges |
0.1 |
0.2 |
0.1 |
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Financial Charges |
0.1 |
0.2 |
0.1 |
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Income Taxes |
0.2 |
0.2 |
0.0 |
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Adjustment of Income Taxes and Write-Back of
Tax Provisions |
- |
- |
0.0 |
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Income Taxes |
0.2 |
0.2 |
0.0 |
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To the Legal Reserve |
- |
0.0 |
- |
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To Other Reserves |
0.3 |
0.4 |
- |
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Transfers to Capital and Reserves |
0.3 |
0.4 |
- |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Furniture and Vehicles |
- |
- |
0.0 |
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Tangible Assets |
- |
- |
0.0 |
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Fixed Assets |
- |
- |
0.0 |
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Trade Debtors |
0.7 |
1.1 |
0.7 |
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Amounts Receivable After More Than One Year |
0.7 |
1.1 |
0.7 |
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Goods Purchased for
Resale |
0.4 |
0.1 |
0.3 |
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Stocks |
0.4 |
0.1 |
0.3 |
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Inventory and Orders in Progress |
0.4 |
0.1 |
0.3 |
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Trade Debtors |
4.9 |
7.9 |
7.7 |
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Other Amounts
Receivable |
0.4 |
5.1 |
0.8 |
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Amounts Receivable Within One Year |
5.4 |
12.9 |
8.4 |
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Liquid Assets |
0.4 |
0.2 |
0.9 |
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Adjustment Accounts |
0.0 |
0.0 |
0.0 |
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Current Assets |
6.9 |
14.4 |
10.4 |
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Total Assets |
6.9 |
14.4 |
10.4 |
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Issued Capital |
0.3 |
0.3 |
0.4 |
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Capital |
0.3 |
0.3 |
0.4 |
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Legal Reserve |
0.0 |
0.0 |
0.0 |
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Reserves Available for
Distribution |
1.2 |
0.9 |
0.6 |
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Reserves |
1.3 |
1.0 |
0.6 |
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Other Liabilities and
Charges |
0.1 |
0.5 |
0.4 |
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Provisions for
Liabilities and Charges |
0.1 |
0.5 |
0.4 |
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Provisions and Deferred Taxes |
0.1 |
0.5 |
0.4 |
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Capital and Reserves |
1.6 |
1.3 |
0.7 |
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Suppliers |
3.2 |
11.6 |
8.3 |
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Trade Debts |
3.2 |
11.6 |
8.3 |
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Advances Received on
Orders in Progress |
1.1 |
0.8 |
1.0 |
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Taxes |
- |
0.0 |
- |
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Taxes, Wages, and
Social Security |
- |
0.0 |
- |
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Other Amounts Payable |
0.9 |
0.0 |
- |
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Amounts Payable Within One Year |
5.1 |
12.5 |
9.3 |
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Adjustment Accounts |
0.0 |
0.0 |
0.1 |
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Creditors |
5.2 |
12.5 |
9.4 |
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Total Liabilities + Shareholders' Equity |
6.9 |
14.4 |
10.4 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.14 |
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UK Pound |
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
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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.