MIRA INFORM REPORT

Report Date :

03.04.2014

IDENTIFICATION DETAILS

Name :	BOKE TRADING BVBA

Registered Office :	Godefriduskaai 50, Bus 10, 2000 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2012

Date of Incorporation :	26.10.2010

Com. Reg. No.:	830663557

Legal Form :	Private Limited Company

Line of Business :	Agents involved in the sale of a variety of goods including timber (Hardwood & Softwood), Wooden Panel (MDF, OSB & Plywood), Scrap (Ferrous & non Ferrous Scrap), Steel (Hot / Cold Rolled Coil) & Cement

No. of Employees	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Slow but Correct

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 – december 01, 2013

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

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 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. 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

Business number 830663557

Company name BOKE TRADING BVBA

Address GODEFRIDUSKAAI 50,

Bus 10

2000 Antwerpen

Tel No. +3232947112

Fax No.: +3232947112

Mobile No.: +32499135555

E-Mail : info@boketrading.be

Number of staff 0

Date of establishment 26/10/2010

Commentary

The business was established over 3 years ago.
No employees are recorded for this business.
The business has been at the address for over 2 years.
Operating Result in the latest trading period decreased 90% on the previous trading period.
A 664% growth in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 115% compared to the previous trading period.

Accounts

DATE OF LATEST ACCOUNTS	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2012	-5,925	23,737	23,435
31/12/2011	38,539	29,885	29,280

Accounts

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2012	386,375	0	6,200	-5,845
31/12/2011	50,550	0	6,200	24,907

Trends

Profitability
Liquidity
Net worth

Payment expectations

Past payments	---	Payment expectation days	-
Industry average payment expectation days	64.35	Industry average day sales outstanding	135.01
Day sales outstanding	-

Court data summary

BANKRUPTCY DETAILS
Court action type	no

COMPANY accounts

Comparison Mode

· Average Median Export accounts to CSV File

Annual accounts	31-12-2012		31-12-2011			Industry average	%
Weeks	52		62		-
Currency	EUR		EUR		-
Turnover	-	-	-	-	-	-	-
Total operating expenses	-	-	-	-	-	-	-
Operating result	3,825	-90.10	38,620	-	-	-	-
Total financial income	3,555	503	589	-	-	-	-
Total financial expenses	13,305	1885	670	-	-	-	-
Results on ordinary operations before taxation	-5,925	-115	38,539	-	-	-	-
Taxation	223	-98.50	14,854	-	-	-	-
Results on ordinary operations after taxation	-6,148	-125	23,685	-	-	-	-
Extraordinary items	0	-	0	-	-	-	-
Other appropriations	0	-	0	-	-	-	-
Net result	-6,148	-125	23,685	-	-	-	-
OTHER INFORMATION
Dividends	-	-	-	-	-	-	-
Director remuneration	-	-	-	-	-	-	-
Employee costs	-	-	-	-	-	-	-
Wages and salary	-	-	-	-	-	-	-
Employee pension costs	-	-	-	-	-	-	-
Social security contributions	-	-	-	-	-	-	-
Other employee costs	0	-	0	-	-	-	-
Amortization and depreciation	303	-75.20	1,222	-	-	-	-

balance sheet

Annual accounts	31-12-2012	%	31-12-2011	%		Industry average	%
Weeks	52		62		-
Currency	EUR		EUR		-
Intangible fixed assets	0	-	0	-	-	-	-
Tangible fixed assets	302	-50.08	605	-	-	-	-
Land & building	-	-	-	-	-	-	-
Plant & machinery	302	-50.08	605	-	-	-	-
Furniture & Vehicles	-	-	-	-	-	- -	-
Leasing & Other Similar Rights	-	-	-	-	-	- -	-
Other tangible assets	0	-	0	-	-	-	-
Financial fixed assets	-	-	-	-	-	-	-
Total fixed assets	302	-50.08	605	-	-	-	-
Inventories	194,339	1217	14,749	-	-	-	-
Raw materials & consumables	-	-	-	-	-	-	-
Work in progress	0	-	0	-	-	-	-
Finished goods	0	-	0	-	-	-	-
Other stocks	194,339	1217	14,749	-	-	-	-
Trade debtors	75,451	4718	1,566	-	-	-	-
Cash	-	-	15,233	-	-	-	-
other amounts receivable	115,613	528	18,397	-	-	-	-
Miscellaneous current assets	670	-	0	-	-	-	-
Total current assets	386,073	672	49,945	-	-	-	-
Total Assets	386,375	664	50,550	-	-	- -	-
CURRENT LIABILITIES
Trade creditors	351,560	21521	1,626	-	-	-	-
Short term group loans	-	-	-	-	-	-	-
Financial debts	4,281	-	-	-	-	- -	-
Current portion of long term debt	-	-	-	-	-	- -	-
Amounts Payable for Taxes, Remuneration & Social Security	-	-	14,852	-	-	- -	-
Miscellaneous current liabilities	6,797	62.34	4,187	-	-	-	- -
Total current liabilities	362,638	1654	20,665	-	-	-	-
LONG TERM DEBTS AND LIABILITIES
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	-	-	-	-	-	-	- -
Deffered taxes	-	-	-	-	-	- -	-
Provisions for Liabilities & Charges	0	-	0	-	-	- -	-
Other long term liabilities	0	-	0	-	-	-	-
Total long term debts	0	-	0	-	-	-	-
SHAREHOLDERS EQUITY
Issued share capital	6,200	0	6,200	-	-	-	-
Share premium account	-	-	-	-	-	-	-
Reserves	17,537	-25.96	23,685	-	-	-	-
Revaluation reserve	-	-	-	-	-	-	-
Total shareholders equity	23,737	-20.57	29,885	-	-	-	-

Working capital	23,435	-19.96	29,280	-	-	-	-
Cashflow	-5,845	-123	24,907	-	-	-	-
Net worth	23,737	-20.57	29,885	-	-	-	-

ratio analysis

Annual accounts	31-12-2012	change(%)	31-12-2011	change(%)		Industry average	%
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	-	-
Return on capital employed	-24.96	-119	128.96	-	-	-	-
Return on total assets employed	-1.53	-102	76.24	-	-	-	-
Return on net assets employed	-24.96	-119	128.96	-	-	-	-
Sales / net working capital	-	-	-	-	-	-	-
Stock turnover ratio	-	-	-	-	-	-	-
Debtor days	-	-	-	-	-	-	-
Creditor days	-	-	-	-	-	-	-
SHORT TERM STABILITY
Current ratio	1.06	-56.20	2.42	-	-	-	-
Liquidity ratio / acid ratio	0.53	-68.82	1.70	-	-	-	-
Current debt ratio	15.28	2114	0.69	-	-	-	-
Liquidity ratio reprocessed	-	-	-	-	-	-	-
LONG TERM STABILITY
Gearing	18.04	-	-	-	-	-	-
Equity in percentage	6.14	-89.61	59.12	-	-	-	-

Industry comparison

Activity code	46190
Activity description	Agents involved in the sale of a variety of goods

Payment expectations

Company result	-
Lower	95.96
Median	47.40
Upper	20.71

Day sales outstanding
Company result	-
Lower	70.16
Median	28.67
Upper	9.79

Group Structure

No group structure for this company.

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Individual Shareholders

SHAREHOLDER NAME
Forename	Suheyla	Middle name	-
Surname	Ilgaz

SHAREHOLDER DETAILS
Start date	26/10/2010	End date	-
Percentage owned	30%

SHAREHOLDER ADDRESS
Street name	Haverstraat	House number	1
Minor town	-	Postal town	Antwerpen
Post code	2000	Country	Belgium

SHAREHOLDER NAME
Forename	Yavuz	Middle name	-
Surname	Boke

SHAREHOLDER DETAILS
Start date	26/10/2010	End date	-
Percentage owned	70%

SHAREHOLDER ADDRESS
Street name	Haverstraat	House number	1
Minor town	-	Postal town	Antwerpen
Post code	2000	Country	Belgium

Court data

NSSO details
Business number	830663557

Bankruptcy details

There is no bankruptcy data against this company

Bankruptcy Data

Court Data

there is no data for this company

Director details

Current director details
Name	SUHEYLA ILGAZ
Position	Principal Manager
Start Date	01/10/2013
Date of birth	11/01/1962
Street	50 GODEFRIDUSKAAI ANTWERPEN
Post code	2000
Country	Belgium

Name	YAVUZ BOKE
Position	Principal Manager
Start Date	07/07/2012
Street	50 GODEFRIDUSKAAI ANTWERPEN
Post code	2000
Country	Belgium

Name	YAVUZ BOKE
Position	Principal Manager
Start Date	22/10/2010
Date of birth	29/06/1960
Street	1 HAVERSTRAAT ANTWERPEN
Post code	2000
Country	Belgium

Name	YAVUZ BOKE
Position	Non Statutory Partner
Start Date	26/10/2010
Date of birth	29/06/1960
Street	1 HAVERSTRAAT ANTWERPEN
Post code	2000
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.64
UK Pound	1	Rs.99.21
Euro	1	Rs.82.39

INFORMATION DETAILS

Analysis Done by :	ras

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
--	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.

Business number	830663557	Company name	BOKE TRADING BVBA
Fax number		Date founded	26/10/2010
Company status	active	Company type	Private Limited Company (BL/LX)
Currency	Euro (€)	Date of latest accounts	31/12/2012
Activity code	46190	liable for VAT
		VAT Number	BE.0830.663.557
Activity description	Agents involved in the sale of a variety of goods including timber (Hardwood & Softwood), Wooden Panel (MDF, OSB & Plywood), Scrap (Ferrous & non Ferrous Scrap), Steel (Hot / Cold Rolled Coil) & Cement

Belgian Bullettin of Acts Publications	Moniteur Belge (Belgian Monitor)

MIRA INFORM REPORT

Company name & address

Commentary

Accounts

Trends

Payment expectations

Court data summary

Company information

COMPANY accounts

balance sheet

ratio analysis

Industry comparison

Payment expectations

Group Structure

Minority Shareholders

Minority Interests

Individual Shareholders

Court data

Bankruptcy details

Bankruptcy Data

Director details

Unit