|
Report Date : |
06.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIACCENTS NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 2 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
23.07.1998 |
|
|
|
|
Com. Reg. No.: |
463916059 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
No. of Employees |
01 |
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) |
|
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 |
Business number 463916059
Company name DIACCENTS NV
Address HOVENIERSSTRAAT 2
2018 ANTWERPEN
Number of staff 0
Date of establishment 23/07/1998
Telephone number 032269506
The business was
established over 15 years ago.
The business has 1
employees.
The business has been at
the address for over 6 years.
Operating Result in the
latest trading period decreased 123% on the previous trading period.
A 38% decline in Total
Assets occurred during the latest trading period.
Pre-tax profits decreased
by 41% compared to the previous trading period.
The business saw an increase in their Cash Balance of 201 % during the latest trading period
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET
WORTH |
WORKING
CAPITAL |
|
31/12/2012 |
5,025,496 |
12,661 |
250,080 |
215,335 |
|
31/12/2011 |
1
0,853,548 |
21,516 |
234,974 |
212,160 |
|
31/12/2010 |
1
0,389,599 |
18,828 |
218,978 |
193,674 |
|
ACCOUNTS |
||||
|
DATE OF
LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
5,803,117 |
0 |
61,973 |
22,793 |
|
31/12/2011 |
9,503,189 |
0 |
61,973 |
20,736 |
|
31/12/2010 |
6,968,909 |
0 |
61,973 |
23,305 |
Past payments Payment
expectation days 326.70
Industry average payment
expectation days 164.43 Industry
average day sales
outstanding 125.54
Day sales outstanding 58.86
|
Business
number |
463916059 |
Company
name |
DIACCENTS
NV |
|
Fax
number |
|
Date
founded |
23/07/1998 |
|
Company
status |
active |
Company
type |
Public
Limited Liability Company (BE) |
|
Currency |
Euro (€) |
Date of
latest accounts |
31/12/2012 |
|
Activity
code |
46761 |
Liable
for VAT |
yes |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
VAT
Number |
BE.0463.916.059
Check VAT number |
|
Belgian Bullettin of Acts Publications |
moniteur belge |
|
|
Code -
Description FROM 1 TO 4 EMPLOYEES
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
5,025,496 |
-53.70 |
1 0,853,548 |
4.47 |
10,389,599 |
46,485,458 |
-89.19 |
|
Total
operating expenses |
5,088,662 |
-51.94 |
1 0,587,884 |
1.61 |
10,420,592 |
46,114,879 |
-88.97 |
|
Operating
result |
-63,166 |
-123 |
265,664 |
857 |
-30,993 |
140,970 |
-144 |
|
Total
financial income |
1,274,455 |
-3.88 |
1,325,950 |
116 |
612,336 |
98,884 |
11 88 |
|
Total
financial expenses |
1,198,628 |
-23.66 |
1,570,098 |
179 |
562,515 |
206,312 |
480 |
|
Results
on ordinary operations before taxation |
12,661 |
-41.16 |
21,516 |
14.28 |
18,828 |
25,266 |
-49.89 |
|
Taxation |
-116 |
-101 |
6,200 |
272 |
1,663 |
20,807 |
-100 |
|
Results
on ordinary operations after taxation |
12,777 |
-16.58 |
15,316 |
-10.77 |
17,165 |
10,475 |
21.98 |
|
Extraordinary
items |
1,650 |
- |
0 |
- |
0 |
-3,969 |
41.57 |
|
Other
appropriations |
0 |
- |
0 |
- |
0 |
- |
- |
|
Net
result OTHER INFORMATION |
14,427 |
-5.80 |
15,316 |
-10.77 |
17,165 |
6,525 |
121 |
|
Gross
Operating Margin |
-46,986 |
-117 |
272,097 |
1097 |
-24,799 |
56,835 |
-182 |
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
112,544 |
- |
|
Employee
costs |
- |
- |
- |
- |
- |
125,946 |
- |
|
Wages
and salary |
- |
- |
- |
- |
- |
105,550 |
- |
|
Employee
pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social security
contributions |
- |
- |
- |
- |
- |
26,656 |
- |
|
Other
employee costs |
0 |
- |
0 |
- |
0 |
4,344 |
-100 |
|
Amortization
and depreciation |
8,366 |
54.35 |
5,420 |
-11.73 |
6,140 |
17,811 |
-53.03 |
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
28,556 |
- |
29,235 |
- |
29,915 |
1,571 |
1717 |
|
Tangible
fixed assets |
232,496 |
4.55 |
222,375 |
-2.09 |
227,115 |
184,117 |
26.28 |
|
Land
& building |
218,250 |
-1.85 |
222,375 |
-1.82 |
226,500 |
362,988 |
-39.87 |
|
Plant
& machinery |
- |
- |
- |
- |
615 |
22,615 |
- |
|
Furniture
& Vehicles |
14,246 |
- |
- |
- |
- |
17,295 5,364 |
-17.63 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
7,588 |
-100 |
|
Financial
fixed assets |
- |
- |
- |
- |
- |
306,282 |
- |
|
Total fixed
assets |
261,052 |
3.75 |
251,610 |
-2.11 |
257,030 |
394,259 |
-33.79 |
|
Inventories |
4,497,421 |
-1.01 |
4,543,370 |
904 |
452,291 |
3,102,024 |
44.98 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in
progress |
0 |
- |
0 |
- |
0 |
2,384 |
-100 |
|
Finished
goods |
0 |
- |
0 |
- |
0 |
1,994,651 |
-100 |
|
Other
stocks |
4,497,421 |
-1.01 |
4,543,370 |
904 |
452,291 |
569,553 |
689 |
|
Trade
debtors |
810,473 |
-82.50 |
4,631,533 |
-25.22 |
6,193,440 |
4,239,087 |
-80.88 |
|
Cash |
228,504 |
201 |
75,780 |
17.38 |
64,561 |
227,241 |
0.56 |
|
other
amounts receivable |
5,667 |
532 |
896 |
-43.54 |
1,587 |
209,025 |
-97.29 |
|
Miscellaneous
current assets |
0 |
- |
0 |
- |
0 |
18,235 |
-100 |
|
Total
current assets |
5,542,065 |
-40.10 |
9,251,579 |
37.84 |
6,711,879 |
7,321,447 |
-24.30 |
|
Total
Assets |
5,803,117 |
-38.94 |
9,503,189 |
36.37 |
6,968,909 |
7,675,911 1,453,566 |
-24.40 |
CURRENT LIABILITIES
|
Trade
creditors |
4,554,657 |
-43.88 |
8,116,473 |
51.47 |
5,358,515 |
3,144,774 |
44.83 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
62 |
5.08 |
59 |
- |
- |
4,280,807 189,666 |
-99 |
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
110,204 15,373 |
- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
- |
- |
6,200 |
- |
- |
9,740 - |
- |
|
Miscellaneous
current liabilities |
772,011 |
-15.78 |
916,687 |
-20.95 |
1,159,690 |
159 |
- - |
|
Total
current liabilities |
5,326,730 |
-41.07 |
9,039,419 |
38.68 |
6,518,205 |
5,457,561 |
-2.40 |
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
197,751 |
-0.91 |
199,561 |
-1.11 |
201,811 |
-82.25 |
- - |
|
Deffered taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,165 0 |
-100 |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
127,897 |
-100 |
|
Total
long term debts SHAREHOLDERS EQUITY |
197,751 |
-0.91 |
199,561 |
-1.11 |
201,811 |
562,239 |
-64.83 |
|
Issued
share capital |
61,973 |
0 |
61,973 |
0 |
61,973 |
967,416 |
-93.59 |
|
Share
premium account |
- |
- |
- |
- |
- |
109,362 |
- |
|
Reserves |
216,663 |
7.13 |
202,236 |
8.19 |
186,920 |
653,158 |
-66.83 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total
shareholders equity |
278,636 |
5.46 |
264,209 |
6.15 |
248,893 |
1,650,062 |
-83.11 |
|
Working
capital |
215,335 |
1.50 |
212,160 |
9.54 |
193,674 |
1,863,886 |
-88.45 |
|
Cashflow |
22,793 |
9.92 |
20,736 |
-11.02 |
23,305 |
21,260 |
7.21 |
|
Net
worth |
250,080 |
6.43 |
234,974 |
7.30 |
218,978 |
1,646,834 |
-84.81 |
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.25 |
25.00 |
0.20 |
11.11 |
0.18 |
-29,00 |
0.86 |
|
Return
on capital employed |
2.66 |
-42.67 |
4.64 |
11.00 |
4.18 |
29,00 |
-90.83 |
|
Return on
total assets employed |
0.22 |
-4.35 |
0.23 |
-14.81 |
0.27 |
-200,00 |
0.11 |
|
Return
on net assets employed |
4.54 |
-44.23 |
8.14 |
7.67 |
7.56 |
19,00 |
-76.11 |
|
Sales /
net working capital |
23.34 |
-54.38 |
51.16 |
-4.62 |
53.64 |
44,00 |
-99 |
|
Stock
turnover ratio |
89.49 |
113 |
41.86 |
862 |
4.35 |
116,00 |
-22.85 |
|
Debtor
days |
58.86 |
-62.21 |
155.76 |
-28.41 |
217.58 |
143,00 |
-58.84 |
|
Creditor
days SHORT TERM STABILITY |
326.70 |
16.76 |
279.80 |
49.08 |
187.69 |
125,00 |
161 |
|
Current
ratio |
1.04 |
1.96 |
1.02 |
-0.97 |
1.03 |
6,00 |
-88.44 |
|
Liquidity
ratio / acid ratio |
0.20 |
-61.54 |
0.52 |
-45.83 |
0.96 |
4,00 |
-95.00 |
|
Current
debt ratio |
19.12 |
-44.11 |
34.21 |
30.62 |
26.19 |
9,00 |
112 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
70.99 |
-6.04 |
75.55 |
-6.82 |
81.08 |
357,00 |
-80.11 |
|
Equity
in percentage |
4.83 |
73.12 |
2.79 |
-22.28 |
3.59 |
-3.189,00 |
0.15 |
|
Total debt
ratio |
19.83 |
-43.29 |
34.97 |
29.52 |
27 |
11,00 |
80.27 |
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Industry average payment 164.43
expectation days
Industry average day sales 125.54
outstanding
|
Company result |
326.70 |
|
Lower |
133.74 |
|
Median |
84.62 |
|
Upper |
45.40 |
Day sales outstanding
Company
result 58.86
Lower 110.17
Median 59.01
Upper 28.11
Summary
Group -
Number of Companies 0
Linkages -
Number of Companies 0
Number of
Countries 0
Group
Structure
No group
structure for this company.
Minority
Shareholders
No minority shareholders found
Minority Interests
No minority interests found
SHAREHOLDER NAME
|
Forename |
Linda Leo Armanda |
Middle
name |
- |
|
Surname |
De Coster |
|
|
|
SHAREHOLDER DETAILS |
|||
|
Start date |
23/07/1998 |
End date |
- |
|
Percentage owned |
- |
|
|
|
SHAREHOLDER ADDRESS |
|
|
|
|
Street name |
Plantin en Moretuslei |
House
number |
21 |
|
Minor town |
- |
Postal
town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgi um |
|
SHAREHOLDER NAME |
|||
|
Forename |
Shah |
Middle
name |
- |
|
Surname |
Dilip Ramniklai |
|
|
|
SHAREHOLDER DETAILS |
|
|
|
|
Start date |
23/07/1998 |
End date |
- |
|
Percentage owned |
- |
|
|
|
SHAREHOLDER ADDRESS |
|
|
|
|
Street name |
Chatham Road |
House
number |
- |
|
Minor town |
- |
Postal
town |
- |
|
Post code |
- |
Country |
Hong Kong |
|
SHAREHOLDER NAME |
|||
|
Forename |
Shah |
Middle
name |
- |
|
Surname |
Dilip Ramniklai |
|
|
|
SHAREHOLDER DETAILS |
|
|
|
|
Start date |
23/07/1998 |
End date |
- |
|
Percentage owned |
- |
|
|
SHAREHOLDER ADDRESS
Street name Chatham Road House number
-
Minor town - Postal
town -
Post code - Country
Hong Kong
SHAREHOLDER NAME
Forename Narpatlal Shah Middle name -
Surname Prakash
SHAREHOLDER DETAILS
Start date 23/07/1998 End date -
Percentage owned -
SHAREHOLDER ADDRESS
Street name Surawongse Road House number -
Minor town - Postal
town BANGKOK
Post code - Country
Thailand
Business number 463916059
Name of defendant
-
Legal form of defendant -
Bankruptcy details
There is no bankruptcy data
against this company
Court data
There is no data for this
company
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.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.