MIRA INFORM REPORT

 

 

Report Date :

12.12.2014

 

IDENTIFICATION DETAILS

 

Name :

DH-GROUP NV

 

 

Registered Office :

Zeilstraat 5 3500 Hasselt

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

15.12.1995

 

 

Com. Reg. No.:

456843571

 

 

Legal Form :

Public Limited Liability Company

 

 

Line of Business :

Wholesale of construction materials, general assortment

 

 

No. of Employees :

55

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Belgium

A2

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 name and address

 

Business number         456843571

Company name            DH-GROUP NV

Address                       ZEILSTRAAT 5

3500 HASSELT

Number of staff            55

Date of establishment 15/12/1995

Telephone number       056776597

Fax number                  011241260

 

 

Commentary

 

The business was established over 18 years ago.         

The business has 50 employees.                                  

The business is part of a group.                                   

The business has been at the address for over 18 years.           

Operating Result in the latest trading period decreased 51% on the previous trading period.

Pre-tax profits decreased by 58% compared to the previous trading period.

The business saw an increase in their Cash Balance of 61% during the latest trading period.

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

TURNOVER

PROFIT BEFORE TAX             NET WORTH

WORKING CAPITAL

31/12/2013

45,345,132

313,836 6,510,589

4,970,298

31/12/2012

47,318,252

761,378 6,883,945

5,480,523

31/12/2011

54,765,294

484,995 6,906,037

5,952,095

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF EMPLOYEES CAPITAL

CASHFLOW

31/12/2013

21,886,725

55 61,973

893,796

31/12/2012

21,468,666

58 61,973

1,327,036

31/12/2011

20,814,725

57 61,973

1,381,289

 

 

Payment expectations

 

Past payments

 

Payment expectation days

65.02

 

Industry average payment expectation days

85.35

Industry average day sales outstanding

119.32

 

Day sales outstanding

37.27

 

 

 

 

 

Company information

 

Business number         456843571

Company name            DH-GROUP NV

Fax number                  011241260

Date founded                15/12/1995

Company status           active

Company type              Public Limited Liability Company (BE)

Currency                      Euro (€)

Date of latest accounts 31/12/2013

Activity code                46731

Liable for VAT              yes

Activity description      Wholesale of construction materials, general assortment

 

 

Joint Industrial Committee (JIC)

 

JIC Code          149.04

Description      Joint subcommittee for the trade in metals

category

 

JIC Code          218

Description      Additional national joint committee for the employees

category

 

 

Significant Events

 

Event Date 24/05/2013

Event Description resignation-appointment of director(s)

Event Details Commentaar 24-05-2013: De vergadering neemt kennis van het ontslag van de heer Danny

Vanwinkel als bestuurder.

 

ASSETS

 

Assets

Annual accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

30-06-2010

%

31-12-2008

Weeks

52

 

52

 

78

 

78

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

 

Total fixed assets

3,026,177

-15.64

3,587,039

-9.49

3,963,249

-0.30

3,975,228

2512

152,143

 

Intangible fixed assets

95,678

-13.91

111,141

-14.95

130,683

-

0

-

0

 

 

 

 

 

 

 

 

 

 

Tangible fixed assets

2,928,384

-14.01

3,405,674

-10.27

3,795,541

11.33

3,409,285

2141

152,098

Land & building                     -               -         -               -         -               -         -               - -

Plant & machinery

124,065

-30.05

177,369

-22.98

230,277

-0.89

232,340

577

34,317

Furniture & Vehicles

212,212

-51.95

441,649

-44.83

800,465

-12.45

914,285

869

94,282

Leasing & Other Similar Rights

1,867,172

-9.23

2,057,082

-5.63

2,179,794

-2.54

2,236,522

-

-

Other tangible assets

724,935

-0.64

729,574

24.71

585,005

2138

26,138

11.23

23,499

 

Financial fixed assets

2,115

-96.99

70,224

89.67

37,025

-93.46

565,943

1257551

45

 

Total current assets

18,860,548

5.47

17,881,627

6.11

16,851,476

-9.70

18,661,676

174

6,806,786

Inventories

10,220,100

-8.69

11,193,274

9.39

10,232,176

53.20

6,679,094

131

2,884,851

Raw materials & consumables

-

-

-

-

-

-

-

-

-

Work in progress

245,494

-14.97

288,716

-75.00

1,155,055

901

115,316

-

0

Finished goods

9,591,121

-2.33

9,819,499

8.18

9,077,121

38.29

6,563,778

127

2,884,851

Other stocks

383,485

-64.66

1,085,059

-

0

-

0

-

0

 

Trade debtors

4,629,841

16.42

3,976,954

-19.79

4,957,928

-52.61

10,461,632

220

3,262,878

Other amounts receivable

2,694,699

71.74

1,569,060

109

749,760

50.74

497,386

435

92,882

 

 

 

Cash

361,589      61.76   223,532      -51.40  459,958      -41.59 787,403

334,634

 

Miscellaneous current assets

73,454        3.25     71,143        -84.25  451,654      91.25   236,162 2.00

231,541

Total Assets

21,886,725  1.95     21,468,666  3.1*     20,814,725   -8.05 22,636,905

6,958,929

 

 

Liabilities

 

Total shareholders equity

6,606,267    -5.56    6,995,086    -0.59 7,036,720

7,027,123

4,867,792

Issued share capital

61,973                  61,973 61,973

0.00 61,973

61,973

Share premium account

-               -         -               - -

-         - -

 

Revaluation reserve

-               -         -               - -

-         - -

 

Reserves

6,544,294    -5.61    6,933,113    -0.60 6,974,747

6,965,149

4,805,819

Provisions for Liabilities & Charges   11,906    -49.74 23,687       -40.12 39,556

-52.39  83,077 -

0

Deffered taxes

-               -         -               - -

-         - -

—----------

Creditors

15,268,552   5.67     14,449,893  5.18 13,738,449

-11.52   15,526,706 642

2,091,136

Other long term loans

1,378,302    -32.73  2,048,789    -27.84 2,839,068

-20.36  3,564,758 10696

33,018

Long term group loans                  -              -         -              -         -              -         -              - -

Other long term liabilities

0               -         0               - 0

-         0 -100

1

Total long term debts

1,390,208    -32.92  2,072,476    -28.00 2,878,624

-21.09  3,647,834 10947

33,019

Current portion of long

 term debt                              1,138,766 -0.46   1,144,011 -7.43   1,235,795 10.14                 1,122,064 2295   46,841

Financial debts                    3,865,499 0.40    3,850,000 5.48     3,650,000 -19.58 4,538,683 - -

Trade creditors                     7,980,790 22.88  6,494,897 23.12                 5,275,424 4.54     5,046,389 366      1,081,446

Amounts Payable for Taxes,

Remuneration & Social

Security                                 671,423 -15.18   791,581 12.32      704,753 -17.70    856,282 376         179,832

 

Miscellaneous current liabilities

233,772

93.82

120,615

261

33,409

-91.62

398,530

-46.86

749,999

Total current liabilities

13,890,250

12.01

12,401,104

13.78

10,899,381

-8.88

11,961,948

481

2,058,118

Total Liabilities

21,886,725

1.95

21,468,666

3.14

20,814,725

-8.05

22,636,905

225

6,958,929

 

 

ratio analysis

 

 

Profit Before Tax

0.69

-57.14

1.61

80.90

0.89

-60.79

2.27

-70.82

7.78

 

Return on capital employed

3.92

-53.33

8.40

71.78

4.89

-43.07

8.59

-61.62

22.38

Return on total assets employed

1.43

-59.72

3.55

52.36

2.33

-42.47

4.05

-74.30

15.76

Return on net assets employed

4.75

-56.34

10.88

57.91

6.89

-47.20

13.05

-42.10

22.54

Sales / net working capital

9.12

5.68

8.63

-6.20

9.20

52.82

6.02

102

2.97

Stock turnover ratio

22.54

-4.73

23.66

26.66

18.68

12.87

16.55

-19.07

20.45

 

Creditor days

65.02

26.70

51.32

44.77

35.45

-23.78

46.51

55.86

29.84

Debtor days

37.27

21.48

30.68

-7.14

33.04

-65.08

94.61

12.07

84.42

Current ratio

1.36

-5.56

1.44

-7.10

1.55

-0.64

1.56

-52.87

3.31

 

Liquidity ratio / acid ratio                    0.62 14.81             0.54 -11.48           0.61 -39.00           1.00 -47.64                           1.91

Current debt ratio                                2.10 18.64             1.77 14.19            1.55 -8.82              1.70 304                                0.42

Liquidity ratio reprocessed                                - - - - - - - - -

Cashflow                                               893,796 -32.65   1,327,036 -3.93   1,381,289 -66.57 4,131,628 422                     791,266

Net worth                                               6,510,589 -5.42 6,883,945 -0.32   6,906,037 -1.72   7,027,123 44.36               4,867,792

LONG TERM STABILITY

Gearing                                                                 96.61 -4.04           100.68 -8.29         109.78 -16.38       131.28 7904                         1.64

Equity in percentage                           30.32 -7.42           32.75 -3.73          34.02 9.60             31.04 -55.63                         69.95

Total debt ratio                                     2.31 11.59            2.07 5.61              1.96 -11.71           2.22 416 0                            .43

Working capital                                    4,970,298 -9.31   5,480,523 -7.92 5,952,095 -11.16                 6,699,729 41.09              4,748,668

 

 

 

Profit & loss

 

Operating Income                               45,427,086 -5.50     48,072,481 -13.78        55,753,887 32.54    42,065,824 196    14,163,799

Turnover                                45,345,132 -4.17       47,318,252 -13.60       54,765,294 35.69    40,359,871 186   14,106,643

Total operating expenses   44,803,715 -3.02     46,196,781 -14.94         54,312,743 37.15     39,601,556 199  13,226,524

Gross Operating Margin - - - - - - - - -

Operating Charges          44,885,669 -4.40        46,951,010 -15.10        55,301,336 33.88      41,307,508 210   13,283,680

Employee costs              3,355,735 2.38            3,277,819 -20.88          4,142,910 12.19          3,692,644 256   1,034,379

Wages and salary           2,248,977 2.70           2,189,921 -20.84           2,766,567 3.29          2,678,350 279     705,210

Employee pension costs 11,911 -26.62            16,232 -62.86               43,701 54.27              28,327 - -

Social security

 contributions                      862,917 -0.58             867,959 -20.40         1,090,468 27.09         857,999 234      256,498

Other employee costs         231,930 13.85        203,707 -15.88            242,174 89.25           127,968 76.09     72,671

Director remuneration          137,462 -69.21   446,407 - - - - - -

Amortization and depreciation 580,115 2.01    568,670 -30.79             821,692 120              372,298 826       40,173

Operating result                   541,417 -51.72    1,121,471 147               452,551 -40.32        758,315 -13.84     880,119

Total financial income          286,376 -34.59   437,800 -44.25              785,257 58.76          494,617 69.66      291,540

Total financial expenses      513,957 -35.59      797,893 5.99              752,813 124              335,565 349        74,666

Results on ordinary operations

before taxation                    313,836 -58.78     761,378 56.99               484,995 -47.13        917,368 -16.37     1,096,993

 

Extraordinary Income           -             -               -              -                         200,000 -95.28           4,241,592 21338    19,785

Extraordinary Charges       - -                            -              -                        127,248 -90.91         1,399,853 26031      5,357

Extraordinary items                   0                     - 0       -100                      72,752 -97.44         2,841,738 19595     14,428

Results for the Year Before

Taxation                                313,836 -58.78           761,378 36.51             557,747 -85.16        3,759,106 238     1,111,421

Other appropriations - - - - - - - - -

Taxation                               155 -94.85                   3,012 162               -1,850 -725                 -224 -100                360,328

Results on ordinary operations

after taxation                     313,681 -58.64              758,366 55.77            486,845 -46.94         917,592 24.56       736,665

 

Net result                               313,681 -58.64              758,366 35.52          559,597 -85.11         3,759,330 400        751,093

Profit (Loss) for the Year to be

Appropriated                        313,681 -58.64                    758,366 35.52      559,597 -85.11        3,759,330 400           751,093

Dividends                               702,500-12.19                    800,00045.45       550,000-65.62        1,600,000 113             750,000

Social Balance Sheet Details

 

Social Balance Sheet

Total

 

During the reporting year ended 31-12-2013

Full-time Employees Part-time Employees Total Fte Employees

52 57

 

 

Number of hours worked Full-time Employees Part-time Employees

84,018 8,721

 

Total

92,739

 

 

Personnel Charges

Full-time Employees Part-time Employees Total

3,029,377

314,447

3,343,824

 

Benefits In Addition To Wages

-

 

During the previous reporting year

 

 

Average number employees in Fte

59

 

Actual working hours

96,255

 

Personnel Charges

3,277,819

 

Benefits In Addition To Wages -

 

Type of Contract

Full-Time

Part-Time

Total Fte

 

Unlimited Duration

50

7

55

 

Contracts

 

 

 

 

 

Gender and Education Level

Men

Full-Time

Part-Time

Total Fte

 

Primary education ...

Secondairy education

33

1

34

 

Higher education (non university)

5

 

5

 

Higher education (university)

1

 

1

 

Women

Full-Time

Part-Time

Total Fte

 

Primary education ...

Secondairy education

8

5

11

 

Higher education (non university)

2

1

3

 

Higher education (university)

1

-

1

 

 

 

 

 

 

 

Working Category

Full-Time

Part-Time

Total Fte

 

Management ...

White collar worker

25

4

28

 

Blue collar worker

25

3

27

 

Other                               -                                      - -

 

 

 

 

 

 

Temporary personnel

 

Total

 

 

Average number of temporary staff

1

 

 

Actual working hours

 

1,558

 

 

Cost of temporary staff

 

39,419

 

 

 

 

 

New staff and leavers Full-Time

Part-Time

Total Fte

 

New Starters 1

1

2

 

Leavers 3

2

5

 

 

 

 

 

 

Total of formal continuing vocational training initiatives for workers paid by the employer

Male

Female

■

Number of employees

9

2

 

Number of training hours

50

8

 

Net costs for enterprise

2,455

394

 

Total of less formal and informal continuing vocational training initiatives for workers paid by the employer

Male

Female

 

Number of employees                                                 - -

 

 

Industry comparison

Activity code

46731

 

 

Activity description

Wholesale of construction materials, general assortment

 

 

 

 

Payment expectations

Payment expectation days

65.02

 

 

Day sales outstanding

37.27

 

 

 

 

Industry comparison

Activity code

46731

 

 

Activity description

Wholesale of construction materials, general assortment

 

 

 

 

Industry quartile analysis

Payment expectations

 

 

 

Company result

 

65.02

 

Lower

 

88.94

 

Median

 

55.08

 

Upper

 

29.94

 

 

 

 

Payment Information

 

Payment Information Summary

Total number of Invoices available                                                                                                         12

Total number of Invoices paid within or up to 30 days after the due date                                               2

Total number of Invoices paid more than 30 days after the due date                                                      8

Total number of Invoices currently outstanding where the due date has not yet been reached   2

Total number of Invoices currently outstanding beyond the due date                                                     0

 

 

Shareholder Details

 

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

 

Name

R.L.E BVBA

 

Position

Chairman of the Board

 

Start Date

01/12/2008

 

Date of birth

27/02/1996

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

Name

R.L.E.-INVEST NV

 

Position

Managing Director

 

Start Date

01/10/2013

 

Date of birth

05/02/2004

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

Name

LBX-INVEST BVBA

 

Position

Legal Representative

 

Start Date

16/05/2012

 

Date of birth

17/03/2008

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

Former director details

Name

R.L.E BVBA

 

Position

Managing Director

 

Start Date

01/12/2008

 

End Date

Unknown date

 

Date of birth

27/02/1996

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

 

Start Date

01/12/2008

 

End Date

Unknown date

 

Date of birth

27/02/1996

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

Position

Legal Representative

 

Start Date

01/12/2008

 

End Date

Unknown date

 

Date of birth

27/02/1996

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

Name

R.L.E.-INVEST NV

 

Position

Director

 

Start Date

01/12/2008

 

End Date

31/12/2011

 

Date of birth

05/02/2004

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

Position

Legal Representative

 

Start Date

01/12/2008

 

End Date

Unknown date

 

Date of birth

05/02/2004

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

Name

LBX-INVEST BVBA

 

Position

Director

 

Start Date

01/12/2008

 

End Date

02/12/2014

 

Date of birth

17/03/2008

 

Street

10 SCHEUTBOS KAPRIJKE

 

Post code

9971

 

Country

Belgium

 

Name

DANNY THEOPHIEL GHISLAIN VANWINKEL

 

Position

Director

 

Start Date

31/03/2010

 

End Date

24/05/2013

 

Date of birth

16/05/1967

 

Street

7 LAAGSIMSESTRAAT ALKEN

 

Post code

3570

 

Country

Belgium

 

Name

DANNY DUJARDIN

 

Position

Director

 

 

Start Date                     15/12/1995

End Date                      01/12/2008

Date of birth                 11/05/1965

Street                           34 KOLONEL DUSARTPLEIN HASSELT

Post code                     3500

Country                        Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.21

UK Pound

1

Rs.97.80

Euro

1

Rs.77.48

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIS

 

               

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.