MIRA INFORM REPORT

 

 

Report Date :

23.08.2014

 

IDENTIFICATION DETAILS

 

Name :

CVB ECOLOGISTICS B.V.

 

 

Registered Office :

Wilhelminapark 37 5041EC Tilburg

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.11.1978

 

 

Com. Reg. No.:

18026887

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale of other used materials and waste materials (46779)

 

 

No. of Employees

26

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

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 – 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

CVB ECOLOGISTICS B.V.

Operative address

Wilhelminapark 37 5041EC Tilburg Netherlands

Legal form

Private Company

Registration number

18026887

VAT-number

006889050

 

 

Year

2013

 

Mutation

2012

 

Mutation

2011

Fixed assets

1.411.356

 

-23,01

1.833.135

 

-10,50

2.048.249

Total receivables

9.719.742

 

-31,18

14.124.208

 

14,47

12.338.782

 

 

Total equity

4.663.760

 

-0,13

4.669.663

 

-0,28

4.682.947

 

Short term liabilities

6.310.737

 

-43,34

11.138.267

 

13,92

9.777.663

 

 

 

Net result

-5.903

*

55,56

-13.284

 

-101,25

1.060.207

 

 

Working capital

3.415.534

 

12,98

3.023.208

 

9,40

2.763.445

Quick ratio

1,54

 

21,26

1,27

 

-0,78

1,28

 

 

 

 

Contact information

 

Company name                       CVB Ecologistics B.V.

Trade names                           CVB Ecologistics B.V.

Operative address                   Wilhelminapark 37

5041EC Tilburg

Netherlands

Correspondence address         Wilhelminapark 37

5041EC Tilburg

Netherlands

Telephone number                  013 4647999

Fax number                             013 4647991

Email address                          info@cvbecologistics.com

Website                                   www.cvbecologistics.com

 

 

Registration

 

Registration number:                  18026887

Registered in                             Kamer van Koophandel Brabant

Branch number                          000016832248

VAT-number                              006889050

Status                                       Active

Memorandum                            1984-04-27

Establishment date                    1978-11-01

Legal form                                 Private Company

Last proposed admendment        2002-12-12

 

 

Activities

 

SBI                                           Wholesale of other used materials and waste materials (46779)

Exporter                                    Yes

Importer                                    Yes

Goal                                         De handel in oud papier,plastics en andere recycleproducten

 

 

Relations

 

Shareholders                             Lindans B.V.

Wilhelminapark 37

5041EC TILBURG

Netherlands

Registration number:                  180351600000

Percentage:                               100%

Companies on same address      Belrosa B.V.

Registration number:                  180130300000

Lindans B.V.

Registration number: 180351600000

CVB Holding B.V.

Registration number: 180809180000

Cavabe B.V.

Registration number: 180809270000

Livabe B.V.

Registration number: 180809210000

 

 

Management

 

Active management                    Lindans B.V.

Wilhelminapark 37

5041EC TILBURG

Netherlands

Registration number: 180351600000

Competence: Fully authorized

Function: Manager

Starting date: 2009-01-01

Active management

 

R.A. Getkate (Richard Alain)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 2009-01-01

Date of birth: 1972-08-06, Utrecht, NL

 

 

Employees

 

Total according to the Chamber of Commerce

18

 

 

 

 

 

Year

 

2013

2012

2011

2010

2009

Total

 

26

18

18

18

18

 

 

 

 

 

Payments

 

Score                            7,65

Description                    Payments made under regular condition

 

Key Figures

Year

2013

2012

2011

2010

2009

Quick ratio

1,54

1,27

1,28

1,30

0,91

Current ratio

1,54

1,27

1,28

1,30

0,91

 

Working capital/ balance total

0,31

0,19

0,19

0,21

-0,07

Equity / balance total

0,42

0,29

0,32

0,30

0,21

Equity / Fixed assets

3,30

2,55

2,29

3,28

0,74

Equity / liabilities

0,72

0,41

0,47

0,43

0,26

 

Working Capital

3.415.534

3.023.208

2.763.445

2.554.426

-925.623

Equity

4.663.760

4.669.663

4.682.947

3.622.740

2.631.092

Mutation equity

-0,13

-0,28

29,27

37,69

12,09

Mutation short term liabilities

-43,34

13,92

15,51

-14,79

23,22

 

Return on total assets (ROA)

-0,08

0,02

9,76

10,97

2,98

Return on equity (ROE)

-0,19

0,08

30,41

36,71

14,23

Gross margin

2.126.782

2.660.014

3.994.576

3.493.505

2.065.341

Operating result

-50.909

57.200

1.488.869

1.355.906

-88.395

Net result after tax

-5.903

-13.284

1.060.207

991.648

283.835

 

EBIT

57.200

1.488.869

1.355.906

-88.395

EBITDA

396.938

1.748.066

1.586.224

37.586

 

Summary                      The 2013 financial result structure is a postive working captial of 3.415.534 euro, which is in agreement with 31 % of the total assets of the company.

The working capital has increased with 12.98 % 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 1.54. 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 1.54. 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 3.023.208 euro, which is in agreement with 19 % of the total assets of the company.

The working capital has increased with 9.4 % compared to previous year. The ratio with

respect to the total assets of the company remains unchanged.

The improvement between 2011 and 2012 has mainly been caused by a current liabilities

reduction.

The current ratio of the company in 2012 was 1.27. 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 1.27. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

Annual account                                      CVB Ecologistics B.V.

Wilhelminapark 37

5041EC Tilburg

Netherlands

Registration number: 180268870000

 

 

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

1.257.975

1.569.194

1.671.393

1.086.776

1.022.445

Financial fixed assets

153.381

263.941

376.856

16.292

2.540.725

Fixed assets

1.411.356

1.833.135

2.048.249

1.103.068

3.563.170

 

Other stock

6.529

 

 

 

 

Total stock

6.529

37.267

 

Other receivables

9.719.742

 

 

 

 

Total receivables

9.719.742

14.124.208

12.338.782

11.019.302

9.008.524

Liquid funds

 

 

202.326

 

 

Current assets

9.726.271

14.161.475

12.541.108

11.019.302

9.008.524

 

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Total assets

11.137.627

15.994.610

14.589.357

12.122.370

12.571.694

 

Issued capital

15.890

15.890

15.890

15.890

15.890

Legal and statutory reserve

 

 

2.110

2.110

2.110

Other reserves

4.647.870

4.653.773

4.664.947

3.604.740

2.613.092

Total reserves

4.647.870

4.653.773

4.667.057

3.606.850

2.615.202

Total equity

4.663.760

4.669.663

4.682.947

3.622.740

2.631.092

 

Provisions

163.130

186.680

128.747

34.754

6.455

Other short term liabilities

6.310.737

 

 

 

 

Short term liabilities

6.310.737

11.138.267

9.777.663

8.464.876

9.934.147

Total short and long term liabilities

6.473.867

11.324.947

9.906.410

8.499.630

9.940.602

Total liabilities

11.137.627

15.994.610

14.589.357

12.122.370

12.571.694

 

Summary                      The total assets of the company decreased with -30.37 % between 2012 and 2013.

This total assets decrease has been reflected in a reduction of non current assets of -23.01%.

Assets reduction is being explained by an indebtedness decrease -42.84 % while the Net

Worth remains unchanged.

In 2013 the assets of the company were 12.67 % composed of fixed assets and 87.33 % by current assets. The assets are being financed by an equity of 41.87 %, and total debt of 58.13 %.

The total assets of the company increased with 9.63 % between 2011 and 2012.

Despite the assets growth, the non current assets decreased with -10.5 %.

The asset growth is explained by a reduction of 14.32 % of the company's indebtness, this while, the Net Worth remains unchanged.

In 2012 the assets of the company were 11.46 % composed of fixed assets and 88.54 % by current assets. The assets are being financed by an equity of 29.2 %, and total debt of 70.8%.

 



Profit and Loss

 

Year

2013

2012

2011

2010

2009

Gross margin

2.126.782

2.660.014

3.994.576

3.493.505

2.065.341

 

Wages and salaries

1.049.884

1.190.173

1.220.219

1.042.634

882.805

Amorization and depreciation

367.888

339.738

259.197

230.318

125.981

other operating costs

759.919

1.072.903

1.026.291

864.647

1.144.950

Operating expenses

2.177.691

2.602.814

2.505.707

2.137.599

2.153.736

Operating result

-50.909

57.200

1.488.869

1.355.906

-88.395

 

Financial income

 

41.103

2.637

59.747

635.600

Financial expenses

 

94.367

67.396

85.787

172.730

Financial result

42.155

-53.264

-64.759

-26.040

462.870

Result on ordinary operations before taxes

-8.754

3.936

1.424.110

1.329.866

374.475

 

Taxation on the result of ordinary activities

 

17.220

323.396

321.310

90.640

Result of ordinary activities after taxes

-8.754

-13.284

1.100.714

1.008.556

283.835

 

Extraordinary income

 

 

7.003

 

 

Extraordinary expense

 

 

47.510

16.908

 

Taxation extraordinary result

2.851

 

 

 

 

Extraordinary result after taxation

2.851

 

-40.507

-16.908

 

Net result

-5.903

-13.284

1.060.207

991.648

283.835

 

Attributable to shareholders

-5.903

 

 

 

 

 

Summary                                  The gross profit of the company decreased by -20.05 % between 2012 and 2013.

The operating result of the company declined with -189 % between 2012 and 2013. This evolution implies an decrease of the company's economic profitability.

The result of these changes is a reduction of the company's Economic Profitability of -500 % of the analysed period, being equal to 2012 % in the year 2013.

The Net Result of the company decreased by 55.56 % 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 -337.5 % of the analysed period, being -0.19 % in the year 2013.

The company's financial profitability has been positively affected by its financial structure.

The gross profit of the company decreased by -33.41 % between 2011 and 2012.

The operating result of the company declined with -96.16 % between 2011 and 2012. This evolution implies an decrease of the company's economic profitability.

The result of these changes is a reduction of the company's Economic Profitability of -99.8 % of the analysed period, being equal to 2011 % in the year 2012.

The Net Result of the company increased by -101.25 % between 2011 and 2012.

The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of -99.74 % of the analysed period, being 0.08 % in the year 2012.

The company's financial profitability has been positively affected by its financial structure.

 

 

Analysis

 

Branch (SBI)                  Wholesale trade (no motor vehicles and motorcycles) (46)

Region                          Midden-Brabant

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Midden-Brabant 5737 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Midden-Brabant 108 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 Midden-Brabant is normal

 

 

Publications

 

Filings                           28-07-2014: De jaarrekening over 2013 is gepubliceerd.

16-08-2013: De jaarrekening over 2012 is gepubliceerd.

25-07-2012: De jaarrekening over 2011 is gepubliceerd.

15-07-2011: De jaarrekening over 2010 is gepubliceerd.

26-08-2010: De jaarrekening over 2009 is gepubliceerd.

18-09-2009: De jaarrekening over 2008 is gepubliceerd.

Amendments                 23-11-2010: Per 1-1-2009 is de bevoegdheid van Bestuurder Richard Alain Getkate

gewijzigd.

Company structure

 

Relations                                   6

 

Lindans B.V.

Wilhelminapark 37

5041EC TILBURG

Netherlands

Registration number: 180351600000

·         CVB Ecologistics B.V.

Wilhelminapark 37

5041EC Tilburg

Netherlands

Registration number: 180268870000

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.44

UK Pound

1

Rs.100.24

Euro

1

Rs.80.35

                

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SDA

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.