MIRA INFORM REPORT
|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 38, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.05.1986 |
|
|
|
|
Com. Reg. No.: |
428939542 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones |
|
|
|
|
No of Employees : |
01 (31.12.2013) |
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 : |
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) |
|
Belgium |
A1 |
A2 |
|
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
summary
Business number 428939542
Company name RELIANCE BVBA
Address HOVENIERSSTRAAT
30-BUS 38
2018 ANTWERPEN
Number of staff 1
Date of establishment 15/05/1986
Telephone number 032330490
Fax number 032263380
Commentary
|
The business was established over 28 years
ago. |
|
|
The business has 1 employees. |
|
|
The business has been at the address for
over 14 months. |
|
|
Operating Result in the latest trading
period decreased 508% on the previous trading period. |
|
|
A 54% growth in Total Assets occurred
during the latest trading period. |
|
|
Pre-tax profits decreased by 697% compared
to the previous trading period. |
|
|
The business saw an increase in their Cash
Balance of 35% during the latest trading period. |
|
Accounts
DATE OF LATEST
ACCOUNTS PROFIT
BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 -21,459
703,097
685,243
31/12/2012 3,590
724,553
705,885
31/12/2011 -2,403
722,985
702,035
Accounts
DATE OF LATEST
ACCOUNTS BALANCE
TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 1,580,340
1 18,600
-17,941
31/12/2012 1,019,633
1 18,600
4,784
31/12/2011 1,885,231
1 18,600
4,088
Trends
Profitability 
Liquidity
Net
worth
Payment
expectations
Industry average payment expectation days 124.39
Industry average day sales outstanding 141.74
Company
information
|
Business number |
428939542 |
Company name |
RELIANCE BVBA |
|
Fax number |
032263380 |
Date founded |
15/05/1986 |
|
Company status |
active |
Company type |
Private Limited Company (BL/LX) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/12/2013 |
|
Activity code |
46761 |
Liable for VAT |
yes |
|
Activity
description |
Wholesaler of diamonds and other precious stones |
VAT Number |
BE.0428.939.542 Check VAT number |
COMPANY
ACCOUNTS
Assets
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total fixed assets |
39,546 |
-2.01 |
40,359 |
-5.35 |
42,641 |
-24.33 |
56,350 |
-13.66 |
65,266 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
39,000 |
-2.04 |
39,813 |
-5.42 |
42,096 |
-24.56 |
55,804 |
-13.78 |
64,720 |
|
Land & building |
33,504 |
-6.13 |
35,690 |
-5.77 |
37,877 |
-26.02 |
51,200 |
-4.75 |
53,756 |
|
Plant & machinery |
4,536 |
40.55 |
3,228 |
-20.68 |
4,069 |
7.88 |
3,772 |
-16.94 |
4,541 |
|
Furniture & Vehicles |
960 |
7.21 |
896 |
495 |
150 |
-81.94 |
832 |
-87.04 |
6,423 |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial fixed assets |
545 |
0 |
545 |
0 |
545 |
0 |
545 |
0.07 |
545 |
|
Total current assets |
1,540,795 |
57.34 |
979,275 |
-46.85 |
1,842,590 |
3.40 |
1,781,922 |
-55.08 |
3,967,312 |
|
Inventories |
530,426 |
-12.99 |
609,584 |
-21.29 |
774,494 |
51.16 |
512,372 |
-38.57 |
834,023 |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other stocks |
530,426 |
-12.99 |
609,584 |
-21.29 |
774,494 |
51.16 |
512,372 |
-38.57 |
834,023 |
|
Trade debtors |
820,594 |
268 |
222,902 |
-76.09 |
932,403 |
-21.62 |
1,189,647 |
-60.47 |
3,009,701 |
|
Other amounts receivable |
109,044 |
26.09 |
86,479 |
39.87 |
61,827 |
75.05 |
35,320 |
60.20 |
22,047 |
|
Cash |
79,578 |
35.27 |
58,830 |
-18.02 |
71,759 |
68.64 |
42,552 |
-57.76 |
100,731 |
|
Miscellaneous current assets |
1,153 |
-22.05 |
1,480 |
-29.79 |
2,107 |
3.73 |
2,032 |
150 |
811 |
|
Total Assets |
1,580,340 |
54.99 |
1,019,633 |
-45.91 |
1,885,231 |
2.55 |
1,838,271 |
-54.41 |
4,032,578 |
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
703,097 |
-2.96 |
724,553 |
0.22 |
722,985 |
0.07 |
722,455 |
1.52 |
711,655 |
|
Issued share capital |
18,600 |
0 |
18,600 0 |
18,600 |
0 |
18,600 |
0 |
0 |
18,600 |
|
Reserves |
684,497 |
-3.04 |
705,953 |
0.22 |
704,385 |
0.08 |
703,855 |
1.56 |
693,055 |
|
Creditors |
877,243 |
197 |
295,080 |
-74.61 |
1,162,246 |
4.16 |
1,115,816 |
-66.40 |
3,320,923 |
|
Other long term loans |
21,691 |
0 |
21,691 |
0 |
21,691 |
0 |
21,691 |
0.00 |
21,691 |
|
Total long term debts |
21,691 |
0 |
21,691 |
0 |
21,691 |
0 |
21,691 |
0.00 |
21,691 |
|
Current portion of long term debt |
- |
- |
- |
- |
- |
- |
- |
- |
1,153 |
|
Financial debts |
33,864 |
10029 |
334 |
-97.94 |
16,209 |
26.28 |
12,835 |
- |
- |
|
Trade creditors |
776,516 |
251 |
220,622 |
-79.43 |
1,072,488 |
3.56 |
1,035,616 |
-68.01 |
3,236,830 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
6,888 |
-44.42 |
12,394 |
13.51 |
10,919 |
76.87 |
6,173 |
-74.92 |
24,619 |
|
|
|
|
|
|
|
|
|
|
|
|
Miscellaneous current liabilities |
38,284 |
-4.39 |
40,040 |
-2.20 |
40,940 |
3.64 |
39,501 |
7.84 |
36,630 |
|
Total current liabilities |
855,552 |
212 |
273,390 |
-76.03 |
1,140,555 |
4.24 |
1,094,125 |
-66.84 |
3,299,232 |
|
Total Liabilities |
1,580,340 |
54.99 |
1,019,633 |
-45.91 |
1,885,231 |
2.55 |
1,838,271 |
-54.41 |
4,032,578 |
Ratio analysis
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Return
on capital employed |
-2.96 |
-7.16 |
0.48 |
150 |
-0.32 |
-122 |
1.43 |
195 |
-0.73 |
|
Return
on total assets employed |
-1.36 |
-488 |
035 |
269 |
-0.13 |
-122 |
0.58 |
446 |
-0.13 |
|
Return
on net assets employed |
-3.05 |
-710 |
0.50 |
151 |
-0.33 |
-122 |
1.48 |
197 |
-0.75 |
|
Short Term Liability |
|
|
|
|
|
|
|
|
|
|
Current
ratio |
1.80 |
-49.72 |
3.58 |
120 |
1.62 |
-0.61 |
1.63 |
35.83 |
1.20 |
|
Liquidity
ratio / acid ratio |
1.18 |
-12.59 |
1.35 |
43.62 |
0.94 |
-18.97 |
1.16 |
22.11 |
0.95 |
|
Current
debt ratio |
1.22 |
221 |
0.38 |
-75.95 |
1.58 |
4.64 |
1.51 |
-67.46 |
4.64 |
|
Cashflow |
-17941 |
-475 |
4,784 |
17.04 |
4,088 |
-79.27 |
-79.27 |
702 |
2,456 |
|
Networth
|
703097 |
-2.96 |
724,553 |
0.22 |
722,985 |
0.07 |
0.07 |
1.52 |
711,655 |
|
Long Term Liability |
|
|
|
|
|
|
|
|
|
|
Gearing |
7.90 |
|
|
|
|
|
|
|
|
|
Equity
in percentage |
44.49 |
-37.39 |
71.06 |
85.29 |
38.35 |
-2.42 |
39.30 |
122 |
17.65 |
|
Total
debt ratio |
1.25 |
204 |
0.41 |
-74.53 |
1.61 |
4.55 |
1.54 |
-67.02 |
4.67 |
|
Working
Capital |
685,243 |
-2.92 |
705,885 |
0.55 |
702,035 |
2.07 |
687,796 |
2.95 |
668,080 |
Profit & Loss
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Gross Operating Margin |
46,810 |
20.89 |
38,722 |
-65.42 |
111,984 |
117 |
51,528 |
2388 |
41,596 |
|
Employee costs |
28,826 |
0.80 |
28,598 |
37.87 |
20,742 |
13.62 |
18,256 |
-36.98 |
28,969 |
|
Wages and salary |
19,791 |
-0.61 |
19,912 |
32.12 |
15,071 |
2724 |
11,845 |
-41.30 |
20,177 |
|
Social security contributions |
7,222 |
5.43 |
6,850 |
50.65 |
4,547 |
-1.78 |
4,629 |
-33.90 |
7,004 |
|
Other employee costs |
1,813 |
-1.22 |
1,836 |
63.30 |
1,124 |
-36.90 |
1,782 |
-0.35 |
1,788 |
|
Amortization and depreciation |
3,514 |
9.26 |
3,216 |
-9.60 |
3,558 |
-60.10 |
8,916 |
-5.22 |
9,407 |
|
Operating result |
-16,466 |
-508 |
4,033 |
-27.73 |
5,580 |
-74.01 |
21,467 |
1195 |
1,657 |
|
Total financial income |
8,070 |
3.73 |
7,779 |
93.28 |
4,025 |
969 |
376 |
213 |
120 |
|
Total financial expenses |
13,065 |
58.88 |
8,222 |
-31.53 |
12,008 |
7.49 |
11,171 |
56.46 |
7,140 |
|
Results on ordinary operations
before taxation |
-21,459 |
-697 |
3,590 |
149 |
-2,403 |
-122 |
10,672 |
198 |
-5,363 |
|
Extraordinary Income |
22,450 |
728 |
2,710 |
-69.42 |
8,863 |
-- |
-- |
-- |
-- |
|
Extraordinary Charges |
22,450 |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Extraordinary Items |
0 |
-100 |
2,710 |
-69.42 |
8,863 |
-- |
0 |
-- |
-- |
|
Results for the Year Before
taxation |
-21,459 |
-440 |
6,300 |
-2.48 |
6,460 |
-39.47 |
10,672 |
198 |
-5,363 |
|
Taxation |
-4 |
-100 |
4,732 |
-20.20 |
5,930 |
4628 |
-128 |
-108 |
1,588 |
|
Results on ordinary
operations after taxation |
-21,456 |
-1778 |
1,142 |
13.71 |
-8,333 |
-177 |
10,800 |
155 |
-6,951 |
|
Net result |
-21,456 |
-1468 |
1,568 |
195 |
530 |
-95.09 |
10,800 |
155 |
-6,951 |
|
Profit (Loss) for the Year to
be appropriated |
-21,456 |
-1468 |
1,568 |
195 |
530 |
-95.09 |
10,800 |
155 |
-6,951 |
Social
Balance Sheet Details
|
Social Balance Sheet |
Total |
|
|
|
During the reporting year ended 31-12-2013 |
|||
|
Full-time Employees |
1 |
|
|
|
Part-time Employees |
1 |
|
|
|
Total Fte Employees |
2 |
|
|
|
|
|||
|
Number of hours worked |
|||
|
Full-time Employees |
1,764 |
|
|
|
Part-time Employees |
826 |
|
|
|
Total |
2,590 |
|
|
|
|
|||
|
Personnel Charges |
|||
|
Full-time Employees |
18,322 |
|
|
|
Part-time Employees |
10,504 |
|
|
|
Total |
28,826 |
|
|
|
Benefits In Addition To Wages |
- |
|
|
|
|
|||
|
During the previous reporting year |
|||
|
Average number employees in Fte |
2 |
|
|
|
Actual working hours |
2,640 |
|
|
|
Personnel Charges |
28,598 |
|
|
|
Benefits In Addition To Wages |
- |
|
|
|
|
|
|
|
|
|
|||
|
Type of Contract Full-Time |
Full Time |
Part-Time |
Total Fte |
|
Unlimited Duration 1 Contracts |
1 |
1 |
2 |
|
Limited Duration Contracts - |
-- |
- |
- |
|
Contracts For Specific Work - |
-- |
- |
- |
|
Contracts Regarding -Substitution |
-- |
- |
- |
|
|
|
|
|
|
Gender and Education Level |
|
|
|
|
Men |
Full Time |
Part-Time |
Total Fte |
|
Primary education |
1 |
- |
- |
|
Secondary education |
-- |
- |
1 |
|
Higher education (non -university) |
-- |
- |
- |
|
Higher education -(university) |
-- |
- |
- |
|
|
|
|
|
|
Women |
Full Time |
Part-Time |
Total Fte |
|
Primary education |
1 |
- |
- |
|
Secondary education |
-- |
1 |
1 |
|
Higher education (non -university) |
-- |
- |
- |
|
Higher education -(university) |
-- |
- |
- |
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar worker |
- |
1 |
1 |
|
Blue collar worker |
1 |
- |
1 |
|
Other |
- |
- |
- |
Industry
comparison
Activity code 46761
Activity description Wholesaler of
diamonds and other precious stones
Industry average payment
expectation days 124.39
Industry average day sales
Outstanding 141.74
Industry
quartile analysis
Payment expectations
Lower 122.66
Median 76.39
Upper 46.98
Day sales outstanding
Lower 102.84
Median 54.50
Upper 24.07
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
Summons
there is no data for this company
Protested
Bills
there is no data for this company
Bankruptcy
and other legal events
there is no data for this company
Director
details
|
||
|
Current director
details |
||
|
Name |
RAJESH TASWALA |
|
|
Position |
Principal Manager |
|
|
Start Date |
02/09/2011 |
|
|
Street |
7 MARIA-HENRIETTALEI ANTWERPEN |
|
|
Post code |
2018 |
|
|
Country |
Belgium |
|
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of diamonds
but history says that in the remote past, diamonds were mined only in India.
Diamond production in India can be traced back to almost 8th Century
B.C. India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some
medium and large diamond traders which are usually engaged in fictitious import
– export, inter-company transactions, financially assisted by banks. In the
process, several public sector banks lost several hundred million rupees. They
mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.97 |
|
UK Pound |
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.