MIRA INFORM REPORT

 

 

Report Date :

01.08.2014

 

IDENTIFICATION DETAILS

 

Name :

AQUA INDUSTRIAL WATERTREATMENT B.V.

 

 

Registered Office :

Albert Schweitzerstraat 33, 7131PG Lichtenvoorde

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

06.12.2002

 

 

Com. Reg. No.:

09131914

 

 

Legal Form :

Private Company

 

 

Line of Business :

Subject is engaged in Engineering, Manufacturing and Trading of Equipment, Machines and Other Products, (to) Perform Technical Work, Sale of Plastics and Metals.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NETHERLANDS - ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009. To recover, the government sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

 

Source : CIA

 

 

 

 

Summary

 

Company name                       AQUA INDUSTRIAL WATERTREATMENT B.V.

Operative address                   Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

 

Legal form                               Private Company

Registration number                KvK-nummer: 09131914

VAT-number                            811193159

 

Year

2013

 

Mutation

2012

 

Mutation

2011

Fixed assets

 

 

-100,00

8.000

 

-60,00

20.000

Total receivables

5.575.000

 

-11,94

6.331.000

 

12,43

5.631.000

 

Total equity

2.212.000

*

60,87

1.375.000

t

177,78

495.000

Short term liabilities

4.526.000

4

-43,57

8.021.000

t

460,13

1.432.000

 

Net result

837.000

%

-4,89

880.000

t

61,47

545.000

 

Working capital

2.343.000

 

56,41

1.498.000

S

-24,15

1.975.000

Quick ratio

1,50

r

29,31

1,16

4

-73,46

4,37

 

 

Contact information

 

Company name                                   Aqua Industrial Watertreatment B.V.

Trade names                                       Aqua Industrial Watertreatment

Stork MPS

Stork Aqua

mps

mps-group

mps-aqua

Operative address                               Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Correspondence address                     Postbus 160

7130AD Lichtenvoorde

Netherlands

Telephone number                              0544390500

Fax number                                         0544377888

Email address                                      info@mps-aqua.nl

Website                                               www.mps-aqua.nl

 

 

Registration

 

Registration number                            KvK-nummer: 09131914

Branch number                                    000018893503

VAT-number                                        811193159

Status                                                  Active

First registration company register      2003-01-09

Memorandum                                      2003-01-02

Establishment date                              2002-12-06

Legal form                                           Private Company

Last proposed admendment                2010-08-13

 

 

Activities

 

SBI                                                       Engineers and other technical design and consultancy (7112)

Engineering activities and related technical consultancy on mechanics (711205)

 

Goal                           Engineering, manufacturing and trading of equipment, machines and other products, (to) perform technical work, sale of plastics and metals.

 

 

Relations

 

Shareholders                                       MPS Holding II B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 091440310000

Percentage: 100%

Companies on same address               Amount: 13

 

 

Management

 

G.J.L. van Vilsteren (Gerhardus Johannus Lambertus)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 2010-08-13

Date of birth: 1958-01-11, Olst, NL

Involved with the following companies

 

• MPS Holding II B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 091440310000

Function: Manager

 

• MPS Red Meat Slaughtering B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 080758690000

Function: Manager

R. Rosman (Remko)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 2010-08-13

Date of birth: 1964-08-08, Onstwedde, NL

Involved with the following companies

 

• MPS Holding II B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 091440310000

Function: Manager

 

• MPS Red Meat Slaughtering B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 080758690000

Function: Manager

M. Vreeman (Marcel)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2005-02-01

Date of birth: 1973-03-05, Dinxperlo, NL

Involved with the following companies

 

• MPS Red Meat Slaughtering B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 080758690000

Function: Proxy

Active management

M. Bats - Brundel (Mignon)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2012-04-19

Date of birth: 1978-01-20, Groenlo, NL

Involved with the following companies

 

• MPS Red Meat Slaughtering B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 080758690000

Function: Proxy

 

 

Employees

 

Total according to the Chamber of Commerce 0

 

Year

2014

2009

2008

2007

2005

Total

0

1

1

1

15

 

 

 

Payments

 

Description Payments are made regularly no complaints are known

 

 

KEY Figures

 

Year

2013

2012

2011

2010

2009

Quick ratio

1,50

1,16

4,37

5,22

2,64

Current ratio

1,52

1,19

2,38

2,08

2,23

 

Working capital/ balance total

0,34

0,16

0,58

0,52

0,55

Equity / balance total

0,32

0,14

0,14

-0,02

0,55

Equity / Fixed assets

 

171,88

24,75

-5,00

88,06

Equity / liabilities

0,47

0,17

0,17

-0,02

1,24

Balance total / liabilities

1,47

1,17

1,17

0,98

2,24

 

Working capital

2.343.000

1.498.000

1.975.000

1.440.000

1.393.000

Equity

2.212.000

1.375.000

495.000

-50.000

1.409.000

Mutation equity

60,87

177,78

1.090,00

-103,55

36,66

Mutation short term liabilities

-43,57

460,13

7,51

17,36

-30,11

 

 

Year

2013

2012

2011

2010

2009

Return on total assets (ROA)

16,25

12,31

 

 

51,57

Return on equity (ROE)

50,45

85,31

 

 

93,12

Gross profit margin

6,40

7,10

4,30

1,01

16,88

Net profit margin

7,06

6,41

3,86

0,81

12,59

 

Average collection ratio

2,62

1,71

9,86

3,80

6,84

Average payment ratio

2,13

2,17

2,51

1,68

4,48

Equity turnover ratio

5,36

9,98

28,53

-101,28

5,51

Total assets turnover ratio

1,72

1,44

4,12

1,82

3,05

Fixed assets turnover ratio

 

1.715,50

706,10

506,40

485,50

Inventory conversion ratio

126,04

74,99

-4,96

-1,21

-16,74

 

Turnover

11.848.000

13.724.000

14.122.000

5.064.000

7.768.000

Gross margin

2.711.000

2.887.000

 

 

 

Operating result

758.000

975.000

607.000

51.000

1.311.000

Net result after taxes

837.000

880.000

545.000

41.000

978.000

 

Gross profit

 

 

14.122.000

5.064.000

7.768.000

EBIT

758.000

975.000

607.000

51.000

1.311.000

Summary

 

The 2013 financial result structure is a postive working captial of 2.343.000 euro, which is in agreement with 34 % of the total assets of the company. The working capital has increased with 56.41 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased. The improvement between 2012 and 2013 has mainly been caused by an increase of the current assets.

 

The current ratio of the company in 2013 was 1.52. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength. The quick ratio in 2013 of the company was 1.5. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

The 2012 financial result structure is a postive working captial of 1.498.000 euro, which is in agreement with 16 % of the total assets of the company. The working capital has diminished with -24.15 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined. The deterioration between 2011 and 2012 has mainly been caused by an increase of the current liabilities. The current ratio of the company in 2012 was 1.19. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations. The quick ratio in 2012 of the company was 1.16. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

 

 

Financial statement

 

Type of annual account                       Corporate

Annual account                                   Aqua Industrial Watertreatment B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 091319140000

 

 

Balance

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Tangible fixed assets

 

8.000

20.000

10.000

16.000

Fixed assets

 

8.000

20.000

10.000

16.000

 

Raw materials

94.000

 

 

 

 

Total stock

94.000

183.000

-2.845.000

-4.178.000

-464.000

Accounts receivable

1.093.000

1.580.000

 

553.000

1.668.000

Tax receivables

14.000

 

 

 

 

Lending operations

3.600.000

 

 

 

 

Receivables due from group and associated companies

828.000

 

 

 

 

Other receivables

40.000

4.751.000

 

2.463.000

64.000

Total receivables

5.575.000

6.331.000

5.631.000

3.016.000

1.732.000

Liquid funds

1.200.000

3.005.000

621.000

3.934.000

1.260.000

accruals

 

 

 

2.463.000

64.000

Current assets

6.869.000

9.519.000

3.407.000

2.772.000

2.528.000

Total assets

6.869.000

9.527.000

3.427.000

2.782.000

2.544.000

 

Issued capital

18.000

 

 

 

 

Share premium reserve

245.000

 

 

 

 

Other reserves

1.949.000

 

 

 

 

Total reserves

2.194.000

 

 

 

 

Total equity

2.212.000

1.375.000

495.000

-50.000

1.409.000

 

Financial debts

131.000

 

 

 

 

Long term liabilities

131.000

131.000

1.500.000

1.500.000

 

Accounts payable

727.000

907.000

941.000

655.000

383.000

 

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Other short term liabilities

3.799.000

7.114.000

491.000

677.000

752.000

Short term liabilities

4.526.000

8.021.000

1.432.000

1.332.000

1.135.000

Total short and long term liabilities

4.657.000

8.152.000

2.932.000

2.832.000

1.135.000

Total liabilities

6.869.000

9.527.000

3.427.000

2.782.000

2.544.000

 

 

Summary

 

The total assets of the company decreased with -27.9 % between 2012 and 2013. The asset reduction is in contrast with the equity growth of 60.87 %. Due to this the total debt decreased with -42.87 %.

 

The total assets of the company increased with 178 % between 2011 and 2012. Despite the assets growth, the non current assets decreased with -60 %. The asset growth has mainly been financed by a debt increase of 178.04 %. The Net Worth, however, grew with 177.78 %. In 2012 the assets of the company were 0.08 % composed of fixed assets and 99.92 % by current assets. The assets are being financed by an equity of 14.43 %, and total debt of 85.57 %.

 

 

Profit and loss

 

Year

2013

2012

2011

2010

2009

Revenues

 

13.724.000

14.122.000

5.064.000

7.768.000

Net Turnover

11.848.000

13724.000

14.122.000

5.064.000

7.768.000

Cost of Sales

9.137.000

 

 

 

 

Gross Margin

2.711.000

2.887.000

 

 

 

 

Year

2013

2012

2011

2010

2009

 

Sales

1.611.000

1.912.000

 

 

 

other operating costs

342.000

 

 

 

 

Production costs

 

 

1.828.000

1.546.000

1.304.000

Raw materials and consumables

 

 

11.687.000

3.467.000

5.153.000

Operating expenses

1.953.000

12.749.000

13.515.000

5.013.000

6.457.000

Operating result

758.000

975.000

607.000

51.000

1.311.000

 

Financial income

372.000

273.000

120.000

4.000

 

Financial expenses

14.000

75.000

 

 

 

Financial result

358.000

198.000

 

 

1.000

Result on ordinary operations before taxes

1.116.000

1.173.000

 

1.312.000

 

Taxation on the result of ordinary activities

279.000

293.000

182.000

14.000

334.000

Result of ordinary activities after taxes

837.000

880.000

 

978.000

 

Net result

837.000

880.000

545.000

41.000

978.000

 

Attributable to shareholders

837.000

 

 

 

 

 

 

Summary

 

The turnover of the company decreased by -13.67 % between 2012 and 2013. The gross profit of the company decreased by -6.1 % between 2012 and 2013. The operating result of the company declined with -22.26 % between 2012 and 2013. This evolution implies an decrease of the company's economic profitability. The result of these changes is an increase of the company's Economic Profitability of 32.01 % of the analysed period, being equal to 2012 % in the year 2013. This growth has contributed to the increase in assets turnover, increasing by 19.44 % reaching 1.72.

 

The Net Result of the company increased by -4.89 % between 2012 and 2013. The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of -40.86 % of the analysed period, being 50.45 % in the year 2013.

 

The company's financial profitability has been positively affected by its financial structure. The turnover of the company decreased by -2.82 % between 2011 and 2012. The operating result of the company grew with 60.63 % between 2011 and 2012. This evolution implies an increase of the company's economic profitability. The Net Result of the company decreased by 61.47 % between 2011 and 2012.

 

 

 

Analysis

 

Branch (SBI)                Architects, engineers and technical design and consultancy; testing and analysis (71)

Region                         Achterhoek

In the Netherlands 47723 of the companies are registered with the SBI code 71

In the region Achterhoek 979 of the companies are registered with the SBI code 71

In the Netherlands 534 of the bankrupcties are published within this sector

In the region Achterhoek 10 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Achterhoek is normal

 

 

Publications

 

Filings                          09-07-2014: De jaarrekening over 2013 is gepubliceerd.

06-05-2013: De jaarrekening over 2012 is gepubliceerd.

13-02-2013: De jaarrekening over 2011 is gepubliceerd.

06-03-2012: De jaarrekening over 2010 is gepubliceerd.

09-11-2010: De jaarrekening over 2009 is gepubliceerd.

19-01-2010: De jaarrekening over 2008 is gepubliceerd.

Functions                     16-05-2012: Per 19-04-2012 is gevolmachtigde Mignon Bats-Brundel in functie getreden.

17-08-2010: Per 13-08-2010 is gevolmachtigde Gerhardus Johannus Lambertus van

Vilsteren uit functie getreden.

17-08-2010: Per 13-08-2010 is bestuurder Gerhardus Johannus Lambertus van Vilsteren in functie getreden.

17-08-2010: Per 13-08-2010 is bestuurder Remko Rosman in functie getreden.

17-08-2010: Per 13-08-2010 is bestuurder 09128650 MPS Beheer B.V. uit functie getreden.

Amendments               17-08-2010: Per 13-8-2010 statuten gewijzigd.

 

Company structure

 

Relations 10

MPS Holding III B.V.

Albert Schweitzerstraat 33

7131PG LICHTENVOORDE

Netherlands

Registration number: 371420910000

 

• MPS Holding IV B.V.

Albert Schweitzerstraat 33

7131PG LICHTENVOORDE

Netherlands

Registration number: 371420970000

 

• MPS Holding II B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

 

Netherlands

Registration number: 091440310000

 

• Aqua Industrial Watertreatment B.V.

Albert Schweitzerstraat 33

7131PG Lichtenvoorde

Netherlands

Registration number: 091319140000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.25

UK Pound

1

Rs.101.92

Euro

1

Rs.80.70

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

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.