|
Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ENSIVAL-MORET BELGIUM SA |
|
|
|
|
Registered Office : |
Bois La Dame 4, 4890 Thimister-Clermont |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.11.1999 |
|
|
|
|
Com. Reg. No.: |
467613838 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Fluid Power Equipment. |
|
|
|
|
No. of Employees : |
255 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
Business number 467613838
Company name ENSIVAL – MORET
BELGIUM SA
Address BOIS LA DAME 4
4890 THIMISTERCLERMONT
Number of staff 255
Date of establishment 26/11/1999
Telephone number 087468100
Fax number 087468100
The business was established over 14 years ago.
The business has 200 employees.
The business is part of a group.
This business has a foreign parent business.
The business has been at the address for over 6 years.
Operating Result in the latest trading period decreased 79% on the
previous trading period.
Pre-tax profits decreased by 88% compared to the previous trading
period.
The business saw a decrease in their Cash Balance of 33% during the
latest trading period.
Turnover in the latest trading period decreased 24% on the previous
trading period.
|
Date of latest accounts |
Turnover |
Profit Before Tax |
Net worth |
Working capital |
|
31/12/2013 |
72,358,200 |
952,773 |
10,336,564 |
11,135,112 |
|
31/12/2012 |
95,856,111 |
8,401,118 |
10,312,228 |
10,793,441 |
|
31/12/2011 |
71,355,795 |
9,596,092 |
10,449,737 |
10,227,747 |
|
Date of latest
accounts |
Balance Total |
Number of Employees |
Capital |
Cash flow |
|
31/12/2013 |
61,100,177 |
255 |
7,400,000 |
1,882,440 |
|
31/12/2012 |
66,064,123 |
255 |
7,400,000 |
6,684,149 |
|
31/12/2011 |
67,107,342 |
249 |
7,400,000 |
7,814,088 |
Payment expectation days 82.42
Industry average payment expectation days 87.46
Industry average day sales outstanding 100.61
Day sales outstanding 119.87
Business number 467613838
Company name ENSIVAL – MORET
BELGIUM SA
Fax number 087468100
Date founded 26/11/1999
Company status Active
Company type Public Limited Liability
Company (BE)
Currency Euro (€)
Date of latest accounts 31/12/2013
Activity code 28120
Liable for VAT Yes
Activity description Manufacture of
Fluid Power
Vat Number BE.0467.613.838
Social Balance Sheet Total
During the reporting year ended 31-12-2013
Full-time Employees 237
Part-time Employees 29
Total Fte Employees 259
Number of hours worked
Full-time Employees 358,851
Part-time Employees 29,542
Total 388,393
Personnel Charges
Full-time Employees 15,633,104
Part-time Employees 1,425,377
Total 17,058,481
Benefits In Addition To Wages -
During the previous reporting year
Average number employees in Fte 251
Actual working hours 379,589
Personnel Charges 16,357,671
Benefits In Addition To Wages -
Type of Contract Full-Time
Part-Time Total Fte
Unlimited Duration
Contracts 225 28 246
Limited Duration
Contracts 7 - 7
Contracts For Specific
Work - - -
Contracts Regarding
Substitution 2 1 3
Gender and Education Level
Men Full-Time
Part-Time Total Fte
Primary education 2 - 2
Secondairy education 150 5 154
Higher education
(non university) 27 1 28
Higher education
(university) 31 6 35
Women Full-Time
Part-Time Total Fte
Primary education - - -
Secondairy education 12 13 22
Higher education (non
university) 6 3 8
Higher education
(university) 6 1 7
Working Category Full-Time
Part-Time Total Fte
Management 15 6 19
White collar worker 104 20 119
Blue collar worker 115 3 117
Other - - -
Temporary personnel Total
Average number of temporary staff 12
Actual working hours 22,706
Cost of temporary staff 684,130
New staff and leavers Full-Time
Part-Time Total Fte
New Starters 23 1 24
Leavers 21 2 23
Total of formal continuing vocational training
initiatives for workers paid by the employer Male Female
Number of employees 78 10
Number of training hours 1,561 299
Net costs for enterprise 89,057 17,294
Total of less formal and informal continuing
vocational training initiatives for workers paid by the
employer Male
Female
Number of employees 39 5
Number of training hours 6,150 130
Net costs for enterprise 180,643 6,018
Total of initial training initiatives at the expense of
the employer Male Female
Number of employees 25 4
Number of training hours 4,520 624
Net costs for enterprise 133,041 18,376
JIC Code 209
Description Joint committee
for the employees off the metal industry
Event Date 31/05/2013
Event Description Re-appointment of
director(s)
Event Details Commentaire
31-05-2013: Renouvellement du mandat d'administrateur de Jérôme Duprez (ainsi
comme administrateur délégué) et Louis-Marie Houbiers pour une durér de 6 ans.
Annual accounts 31-12-2013 % 31-12-2012 % 31-12-2011
Industry %
Average
2013
Weeks 52 52 52
Currency EUR EUR EUR
Turnover 72,358,200
-24.51
95,856,111 34.34 71,355,795 16,098,012 349
Total operating expenses 70,447,653 -18.71 86,658,537 42.45 60,835,539 15,597,208 351
Operating result 1,910,547 -79.23 9,197,574 -12.57 10,520,256 187,842 917
Total financial income 628,879 -22.31 809,485 9.60 738,564 51,487 1121
Total financial expenses 1,586,653 -1.20 1,605,941 -3.42 1,662,729 90,297 1657
Results on ordinary operations before
taxation 952,773 -88.66 8,401,118 -12.45 9,596,092 144,456 559
Taxation 301,786 -89.36 2,837,017 -12.23 3,232,453 41,232 631
Results on ordinary operations after
taxation 650,988 -88.30 5,564,101 -12.56 6,363,639 111,470 484
Extraordinary items -406,803 -2.12 -398,347 -208 -128,935 12,763 -3287
Other appropriations 0.00 - 0 - 0.00 - -
Net result 244,185 -95.27 5,165,754 -17.15 6,234,704 124,326 96.41
Other information
Gross Operating Margin - - -
- - 458,026
-
Dividends 240,000 -95.20 5,000,000 -16.67 6,000,000 322,185 -25.51
Director remuneration - -
- - - 334,945 -
Employee costs 17,058,481 4.28 16,357,671 5.80 15,460,457 1,443,319 1081
Wages and salary 11,974,323 4.35 11,474,845 5.92 10,833,085 1,013,530 1081
Employee pension costs - - - - -
1,493 -
Social security contributions 3,939,677 3.80 3,795,503 5.58 3,595,003 341,162 1054
Other employee costs 1,144,481 5.26 1,087,323 5.32 1,032,369 64,894 1663
Amortization and depreciation 1,638,255 7.89 1,518,395 -3.86 1,579,384 153,577 966
|
Annual accounts |
31-12-2013 |
% |
31.12.2012 |
% |
31.12.2011 |
Industry Average
2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
326,797 |
- |
422,508 |
- |
195,289 |
51,076 |
539 |
|
Tangible
fixed assets |
9,736,381 |
-6.66 |
10,430,556 |
-2.68 |
10,717,249 |
1,153,059 |
744 |
|
Land & building |
- |
- |
- |
- |
- |
562,779 |
- |
|
Plant & machinery |
2,617,418 |
-4.23 |
2,732,927 |
9.21 |
2,502,353 |
667,857 |
291 |
|
Furniture & Vehicles |
214,153 |
-18.11 |
261,509 |
18.14 |
221,359 |
49,266
28,668 |
334 |
|
Leasing & Other Similar Rights |
6,236,880 |
-7.54 |
6,745,259 |
-7.27 |
7,274,124 |
809,229 41,677 |
670 |
|
Other tangible assets |
667,930 |
-3.32 |
690,861 |
-3.97 |
719,414 |
24,592 |
2616 |
|
Financial
fixed assets |
133,707 |
-84.33 |
853,138 |
-22.48 |
1,100,608 |
92,637 |
44.33 |
|
Total
fixed assets |
10,196,885 |
-12.89 |
11,706,202 |
-2.56 |
12,013,146 |
1,134,911 |
798 |
|
Inventories |
12,873,827 |
-21.52 |
16,403,925 |
-18.39 |
20,101,514 |
1,446,904 |
789 |
|
Raw materials & consumables |
2,365,325 |
-10.51 |
2,642,991 |
-45.81 |
4,877,637 |
633,573 |
273 |
|
Work in progress |
7,504,878 |
-21.47 |
9,557,034 |
-12.54 |
10,927,283 |
346,447 |
2066 |
|
Finished goods |
2,664,995 |
-19.53 |
3,311,604 |
40.96 |
2,349,390 |
420,638 |
533 |
|
Other stocks |
338,629 |
-62.05 |
892,296 |
-54.18 |
1,947,204 |
117,036 |
189 |
|
Trade
debtors |
23,763,138 |
-14.70 |
27,859,297 |
35.07 |
20,626,261 |
1,693,887 |
1302 |
|
Cash |
3,941,926 |
-33.65 |
5,940,979 |
85.18 |
3,208,240 |
308,336 |
1178 |
|
other
amounts receivable |
9,796,690 |
143 |
4,031,213 |
-63.43 |
11,022,955 |
501,470 |
1853 |
|
Miscellaneous
current assets |
527,711 |
330 |
122,507 |
-9.41 |
135,226 |
64,226 |
721 |
|
Total
current assets |
50,903,291 |
-6.36 |
54,357,921 |
-1.34 |
55,094,196 |
3,557,824 |
1330 |
|
Total
Assets |
61,100,177 |
-7.51 |
66,064,123 |
-1.55 |
67,107,342 |
4,642,294
743,810 |
1216 |
Current
Liabilities
Trade creditors 15,908,056 -15.06 18,729,444 13.30 16,531,544 1,102,585 1342
Short term group loans - - - - - - -
Financial Debts 10,750,000 79.17 6,000,000 8.23 650,000 1,354,621 693
485,253
Current Portion of Long Term debts 467,230 4.67 446,357 4.60 426,760 133,085 251
36,216
Amount Payable for Taxes,
Remuneration and Social Security 2,832,936 -18.24 3,465,048 18.13 2,933,300 53,903 1312
Miscellaneous current liabilities 9,809,958 -34.27 14,923,613 -38.65 24,324,845 1504 --
Total current liabilities 39,768,180 -8.71 43,564,480 -2.90 44,866,449 2,425,025 1539
Long Term Debts and Liabilities
Long term group loans - - - - - - --
Other long term loans 6,757,527 -6.47 7,224,756 -5.82 7,671,132 421 --
Deffered taxes - - - - - 12,158 4,063 -
Provisions for Liabilities & Charges 3,911,110 -13.86 4,540,151 15.68 3,924,736 113,358 0 3350
Other long term liabilities 0 - 0 - 0 30,341 -100
Total long term debts 10,668,637 -9.32 11,764,907 1.46 11,595,868 864,803 1133
shareholders equity
Issued share capital 7,400,000 0 7,400,000 0 7,400,000 652,801 1033
Share premium account - - - - - 10,291 -
Reserves 3,263,360 -2.14 3,334,736 2.76 3,245,025 692,263 371
Revaluation reserve - - - - - 151,110 -
Total shareholders equity 10,663,360 -0.66 10,734,736 0.84 10,645,025 1,352,466 688
Working capital 11,135,112 3.17 10,793,441 5.53 10,227,747 1,132,799 882
Cashflow 1,882,440 -71.84 6,684,149 -14.46 7,814,088 260,839 621
Net worth 10,336,564 0.24 10,312,228 -1.32 10,449,737 1,301,390 694
|
Annual Accounts |
31.12.2013 |
Charge (%) |
31.12.2012 |
Charge (%) |
31.12.2011 |
Industry Average
2013 |
% |
|
Trading Performance |
|||||||
|
Profit
Before Tax |
1.32 |
-84.93 |
8.76 |
-34.87 |
13.45 |
-1,00 |
132 |
|
Return
on capital employed |
4.47 |
-88.03 |
37.34 |
-13.46 |
43.15 |
-24,00 |
18.62 |
|
Return on total
assets employed |
1.56 |
-87.74 |
12.72 |
-11.05 |
14.30 |
1,00 |
56.00 |
|
Return
on net assets employed |
8.94 |
-88.58 |
78.26 |
-13.19 |
90.15 |
9,00 |
-0.67 |
|
Sales
/ net working capital |
6.50 |
-26.80 |
8.88 |
27.22 |
6.98 |
13,00 |
-99 |
|
Stock
turnover ratio |
17.79 |
3.97 |
17.11 |
-39.26 |
28.17 |
19,00 |
-6.37 |
|
Debtor
days |
119.87 |
13.00 |
106.08 |
0.54 |
105.51 |
149,00 |
-19.55 |
|
Creditor
days |
82.42 |
4.47 |
78.89 |
-20.47 |
99.19 |
63,00 |
30.83 |
|
short
term stability |
|||||||
|
Current
ratio |
1.28 |
2.40 |
1.25 |
1.63 |
1.23 |
3,00 |
-68.00 |
|
Liquidity
ratio / acid ratio |
0.96 |
10.34 |
0.87 |
11.54 |
0.78 |
2,00 |
-52.00 |
|
Current
debt ratio |
3.73 |
-8.13 |
4.06 |
-3.56 |
4.21 |
4,00 |
-6.75 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
long
term stability |
|||||||
|
Gearing |
168.57 |
32.37 |
127.35 |
54.96 |
82.18 |
91,00 |
85.24 |
|
Equity
in percentage |
17.55 |
7.34 |
16.35 |
2.77 |
15.91 |
250,00 |
-92.98 |
|
Total
debt ratio |
4.73 |
-8.16 |
5.15 |
-2.83 |
5.30 |
5,00 |
-5.40 |
Activity code 28120
Activity description Manufacture of
fluid power equipment
Total number of Invoices available 47
Total number of Invoices paid
within or up to 30 days after the due date 30
Total number of Invoices paid
more than 30 days after the due date 5
Total number of Invoices currently
outstanding where the due date has not yet been reached 0
Total number of Invoices currently
outstanding beyond the due date 12
Payment expectation days 82.42
Day sales outstanding 119.87
Payment expectations
Company result 82.42
Lower 106.69
Median 81.32
Upper 58.81
Day sales outstanding
Company result 119.87
Lower 92.22
Median 54.31
Upper 37.39
Group - Number of Companies 4
Linkages - Number of Companies 4
Number of Countries 4
Company name Number
- ENSIVAL - MORET BELGIUM SA 467613838
- - ENSIVAL - MORET SERVICES NV 476508936
- - ENSIVALMORET DE BACKER PVBA 400133017
- - - DEBA CV 428826211
|
Business number |
Company name |
% |
Date
of accounts |
|
- |
ENSIVAL-MORET INTERNATIONAL
SOC. ETRANGERE |
- |
- |
|
865342047 |
Ensival-Moret International SA |
8.11 |
31/12/2013 |
|
Business number |
Company name |
% |
Date
of accounts |
|
834748445 |
L&T
Steel SPRL |
20 |
31/12/2012 |
|
- |
OPTIMEX
SA |
10.03 |
- |
|
Business number |
Company name |
Date of accounts |
|
468174260 |
FONDS DE
SOLIDARITY DU PERSONNEL EMPLOYE D ENSIVA |
- |
|
471143846 |
FONDS DE
PREVOYANCE DES OUVRIERS D ENSIVAL ASBL |
- |
|
865342047 |
ENSIVAL-MORET
INTERNATIONAL SA |
31/12/2013 |
There is no data for this company
Current director details
Name ERNST EN YOUNG BEDRIJFSREVISOREN
B.V. CVBA
Position Commissioner
Start Date 01/10/2006
Date of birth 06/01/1992
Street 2 DE KLEETLAAN
MACHELEN
Post code 1831
Country Belgium
Name JÉRÔME DUPREZ
Position Director
Start Date 22/05/2001
Street 29 AVENUE FAIDHERBE
Post code 02100
Country France
Name JÉRÔME DUPREZ
Position Chairman of the
Board
Start Date 20/03/2008
Street 29 AVENUE
FAIDHERBE
Post code 02100
Country France
Name MARC BELLEFROID
Position Legal
Representative
Start Date 25/05/2007
Street -
Post code -
Country -
Former Director Details
Name LOUIS-MARIE HOUBIERS
Position Director
Start Date 25/05/2007
End Date 25/05/2012
Street 73 RUE DES ANNEUSES PEPINSTER
Post code 4860
Country Belgium
Name LOUISE FRANÇOISE CATHERINE CLITESSE
Position Director
Start Date 17/11/1999
End Date Unknown date
Date of birth 06/10/1931
Street 21 AVENUE LÉOPOLD II SPA
Post code 4900
Country Belgium
Name JÉRÔME DUPREZ
Position Managing Director
Start Date 25/05/2007
End Date 31/12/2010
Street 29 AVENUE FAIDHERBE
Post code 02100
Country France
Name JEAN-MARIE MACKOWSKI
Position Director
Start Date 14/12/2004
End Date 31/05/2013
Street -
Post code -
Country France
Former mandates in
other companies
Name Ensival Moret De Backer PVBA
Business number 400133017
Position PrincipalManager
Start Date 01/09/2007
End Date 31/12/2012
Name Ensival Moret De Backer PVBA
Business number 400133017
Position Legal Representative
Start Date 13/05/2008
End Date Unknown date
Name Ensival - Moret Services NV
Business number 476508936
Position Director
Start Date 20/12/2001
End Date Unknown date
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.77 |
|
|
1 |
Rs.100.72 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.