MIRA INFORM REPORT
|
Report Date : |
13.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOBALTEX BVBA |
|
|
|
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Registered Office : |
Stijn Streuvelsstraat 99, 8790 Waregem |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.10.2007 |
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Com. Reg. No.: |
893201932 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of Cordage, Rope, Twine and Netting |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 |
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Payment Behaviour : |
Slow but Correct |
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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) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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
|
Source : CIA |
Company name & address
Business number 893201932
Company name GLOBALTEX BVBA
Address STIJN
STREUVELSSTRAAT 99
8790 WAREGEM
Number of staff 0
Date of establishment 26/10/2007
Telephone number 056282727
Fax number 056282726
Commentary
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The business was established over 7 years ago. |
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|
|
No employees are recorded for this business. |
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|
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The business has been at the address for over 7 years. |
|
|
|
Operating Result in the latest trading period decreased 33% on the
previous trading period. |
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|
|
Pre-tax profits decreased by 65% compared to the previous trading
period. |
|
|
|
The business saw an increase in their Cash Balance of 63% during the
latest trading period. |
|
|
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Turnover in the latest trading period increased 22% on the previous
trading period. |
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Accounts
DATE OF LATEST
ACCOUNTS TURNOVER
PROFIT BEFORE TAX NET WORTH WORKING
CAPITAL
31/12/2013 43,320,796 298,661 2,359,443 2,225,200
31/12/2012 35,475,868
870,552 2,145,552 2,007,640
31/12/2011 30,416,439
402,169 1,558,916 1,214,035
Accounts
DATE OF LATEST
ACCOUNTS BALANCE
TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 11,589,380
0
50,000 220,499
31/12/2012 11,275,866
0 50,000
592,442
31/12/2011 9,640,621
0 50,000
282,632
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment expectations
Payment expectation days 15.36
Industry average payment expectation days 50.44
Industry average day sales outstanding 75.22
Day sales outstanding 65.49
Company information
|
Business number |
893201932 |
Company name |
GLOBALTEX BVBA |
|
Fax number |
056282726 |
Date founded |
26/10/2007 |
|
Company status |
active |
Company type |
Private Limited Company (BL/LX) |
|
Currency |
Euro (€) |
Date of latest
accounts |
31/12/2013 |
|
Activity code |
13940 |
Liable for VAT |
yes |
|
Activity description |
Manufacturer of cordage, rope, twine and netting |
VAT Number |
BE.0893.201.932 Check VAT number |
|
Belgian Bullettin of Acts Publications |
moniteur belge |
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|
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 |
134,243 |
-2.66 |
137,912 |
-60.01 |
344,882 |
32.36 |
260,561 |
1.03 |
257,893 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
6,307 |
-24.92 |
8,400 |
-28.47 |
11,744 |
96.19 |
5,986 |
-33.27 |
8,971 |
|
Furniture & Vehicles |
6,307 |
-24.92 |
8,400 |
-28.47 |
11,744 |
96.19 |
5,986 |
-33.27 |
8,971 |
|
Financial fixed assets |
127,936 |
-1.22 |
129,512 |
-61.12 |
333,138 |
30.86 |
254,575 |
2.27 |
248,922 |
|
Total current assets |
11,455,137 |
2.85 |
11,137,954 |
19.82 |
9,295,739 |
-7.07 |
10,002,757 |
77.32 |
5,640,932 |
|
Inventories |
1,956,721 |
10.54 |
1,770,186 |
106 |
859,178 |
-40.06 |
1,433,400 |
270 |
386,556 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Finished goods |
1,956,721 |
10.54 |
1,770,186 |
106 |
859,178 |
-40.06 |
1,433,400 |
270 |
386,556 |
|
Trade debtors |
7,773,277 |
-6.80 |
8,340,498 |
11.85 |
7,456,925 |
-3.45 |
7,723,150 |
72.01 |
4,490,048 |
|
Other amounts receivable |
259,627 |
96.64 |
132,032 |
10.38 |
119,615 |
84.41 |
64,863 |
83.68 |
35,313 |
|
Cash |
1,448,249 |
63.62 |
885,114 |
3.81 |
852,610 |
9.95 |
775,429 |
6.69 |
726,839 |
|
Miscellaneous current assets |
17,262 |
70.51 |
10,124 |
36.61 |
7,411 |
25.29 |
5,915 |
171 |
2,176 |
|
Total Assets |
11,589,380 |
2.78 |
11,275,866 |
16.96 |
9,640,621 |
-6.07 |
10,263,319 |
73.99 |
5,898,825 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
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Total shareholders equity |
2,359,443 |
9.97 |
2,145,552 |
37.63 |
1,558,916 |
21.61 |
1,281,950 |
167 |
478,362 |
|
Issued share capital |
50,000 |
0 |
50,000 |
0 |
50,000 |
0 |
50,000 |
0 |
50,000 |
|
Reserves |
2,309,443 |
10.21 |
2,095,552 |
38.88 |
1,508,916 |
22.48 |
1,231,950 |
187 |
428,362 |
|
Creditors |
9,229,937 |
1.09 |
9,130,314 |
12.98 |
8,081,704 |
-10.02 |
8,981,369 |
65.69 |
5,420,463 |
|
Financial debts |
7,412,350 |
-9.37 |
8,178,926 |
32.09 |
6,192,080 |
-17.97 |
7,548,101 |
95.24 |
3,866,033 |
|
Trade creditors |
1,798,409 |
96.98 |
912,972 |
-32.35 |
1,349,559 |
40.14 |
962,990 |
-25.80 |
1,297,908 |
|
Miscellaneous current liabilities |
19,179 |
-50.08 |
38,416 |
-92.89 |
540,065 |
14.84 |
470,279 |
83.33 |
256,552 |
|
Total current liabilities |
9,229,937 |
1.09 |
9,130,314 |
12.98 |
8,081,704 |
-10.02 |
8,981,369 |
65.69 |
5,420,463 |
|
Total Liabilities |
11,589,380 |
2.78 |
11,275,866 |
16.96 |
9,640,621 |
-6.07 |
10,263,319 |
73.99 |
5,898,825 |
Ratio Analysis
|
|
31.12.2013 |
% |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
% |
31.12.2009 |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit Before Tax |
0.69 |
-71.84 |
2.45 |
85.61 |
1.32 |
-65.98 |
3.88 |
20.87 |
3.21 |
|
Return on capital employed |
12.66 |
-68.79 |
40.57 |
57.25 |
25.80 |
-72.74 |
94.66 |
-0.65 |
95.28 |
|
Return on total assets employed |
2.58 |
-66.58 |
7.72 |
85.13 |
4.17 |
-64.72 |
11.82 |
52.91 |
7.73 |
|
Return on net assets employed |
12.66 |
-68.79 |
40.57 |
57.25 |
25.80 |
-72.74 |
94.66 |
-0.65 |
95.28 |
|
Sales / net working capital |
19.47 |
10.19 |
17.67 |
-29.46 |
25.05 |
-18.16 |
30.61 |
-52.48 |
64.42 |
|
Stock turnover ratio |
4.52 |
-9.42 |
4.99 |
76.95 |
2.82 |
-38.56 |
4.59 |
68.75 |
2.72 |
|
Creditor
days |
15.36 |
59.34 |
9.64 |
-42.17 |
16.67 |
42.84 |
11.67 |
-66.62 |
34.96 |
|
Debtor
days |
65.49 |
-23.68 |
85.81 |
-4.10 |
89.48 |
-0.77 |
90.17 |
-21.85 |
115.38 |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current
ratio |
1.24 |
1.64 |
1.22 |
6.09 |
1.15 |
3.60 |
1.11 |
6.73 |
1.04 |
|
Liquidity
ratio / acid ratio |
1.03 |
0 |
1.03 |
-0.96 |
1.04 |
9.47 |
0.95 |
-2.06 |
0.97 |
|
Current
debt ratio |
3.91 |
-8.22 |
4.26 |
-17.76 |
5.18 |
-26.11 |
7.01 |
-38.13 |
11.33 |
|
Cashflow |
220,499 |
-62.78 |
592,442 |
109 |
282,632 |
-64.96 |
806,573 |
164 |
304,901 |
|
Net
worth |
2,359,443 |
9.97 |
2,145,552 |
37.63 |
1,558,916 |
21.61 |
1,281,950 |
167 |
478,362 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
314.16 |
-17.59 |
381.20 |
-4.03 |
397.20 |
-32.54 |
588.80 |
-27.14 |
808.18 |
|
Equity
in percentage |
20.36 |
6.99 |
19.03 |
17.69 |
16.17 |
29.46 |
12.49 |
54.01 |
8.11 |
|
Total
debt ratio |
3.91 |
-8.22 |
4.26 |
-17.76 |
5.18 |
-26.11 |
7.01 |
-38.13 |
11.33 |
|
Working
Capital |
2,225,200 |
10.84 |
2,007,640 |
65.37 |
1,2140,355 |
18.86 |
1,021,388 |
363 |
220,469 |
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 |
|
Operating Income |
43,417,14,5 |
22.35 |
35,487,387 |
16.46 |
30,472,043 |
-2.53 |
31,262,264 |
119 |
14,224,187 |
|
Turnover |
43,320,796 |
22.11 |
35,475,868 |
16.63 |
30,416,439 |
-2.71 |
31,262,264 |
120 |
14,203,559 |
|
Total Operating
Expense |
42,726,497 |
23.55 |
34,583,308 |
17.04 |
29,547,654 |
-1.92 |
30,126,046 |
122 |
13,551,031 |
|
Operating Charges
|
42,822,846 |
23.78 |
34,594,826 |
16.86 |
29,603,258 |
-1.74 |
30,126,046 |
121 |
13,571,659 |
|
Amortization
& Depreciation |
6,608 |
13.80 |
5,807 |
2.51 |
5,665 |
89.78 |
2,985 |
12.47 |
2,654 |
|
Operating result |
594,299 |
-33.42 |
892,561 |
2.74 |
868,785 |
-23.54 |
1,136,218 |
74.13 |
652,528 |
|
Total financial
income |
1,292,489 |
-45.36 |
2,365,489 |
50.89 |
1,567,731 |
-21.58 |
1,999,251 |
153 |
788,863 |
|
Total financial
expenses |
1,588,126 |
-33.48 |
2,387,498 |
17.36 |
2,034,347 |
5.85 |
1,921,971 |
95.01 |
985,592 |
|
Results on
ordinary operations before taxation |
298,661 |
-65.69 |
870,552 |
116 |
402,169 |
-66.86 |
1,213,498 |
166 |
985,592 |
|
Results for the year
Before Taxation |
298,661 |
-65.69 |
870,522 |
116 |
402,169 |
-66.86 |
1,213,498 |
166 |
455,799 |
|
Taxation |
84,770 |
-70.14 |
283,917 |
126 |
125,202 |
-69.46 |
409,910 |
166 |
153,552 |
|
Result on
ordinary Operations after taxation |
213,891 |
-63.54 |
586,635 |
111 |
276,967 |
65.53 |
803,588 |
165 |
302,247 |
|
Net result |
213,891 |
-63.54 |
586,635 |
111 |
276,967 |
-65.53 |
806,588 |
165 |
302,247 |
|
Profit (Loss) for
the year to be appropriated |
213,891 |
-63.54 |
586,635 |
111 |
276,967 |
-65.53 |
806,588 |
165 |
302,247 |
Payment expectations
Payment expectation days 15.36
Day sales outstanding 65.49
Industry comparison
Activity code 13940
Activity description Manufacture of
cordage, rope, twine and netting
Industry average payment
expectation days 50.44
Industry average day sales
Outstanding 75.22
Industry quartile analysis
Payment expectations
Company result 15.36
Lower 96.78
Median 70.97
Upper 57.34
Day sales outstanding
Company result 65.49
Lower 63.52
Median 32.92
Upper 15.36
Minority shareholders
|
Business number |
Company name |
% |
Date of accounts |
|
894762543 |
Damelo BVBA |
40 |
31/12/2013 |
|
816919350 |
Geleen BVBA |
20 |
30/09/2013 |
Minority Interests
|
Business number |
Company name |
% |
Date of accounts |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
|
896587628 |
East Invest BVBA |
15 |
31/12/2013 |
Director details
Current director
details
Name GELEEN BVBA
Position Principal Manager
Start Date 15/06/2012
Date of birth 10/05/2009
Street 41 TIENBUNDER
WAREGEM
Post code 8792
Country Belgium
Position Legal
Representative
Start Date 15/06/2012
Date of birth 10/05/2009
Street 41 TIENBUNDER
WAREGEM
Post code 8792
Country Belgium
Name DAMELO BVBA
Position Principal Manager
Start Date 15/06/2012
Date of birth 07/01/2008
Street 97 INDUSTRIELAAN
WAREGEM
Post code 8790
Country Belgium
Position Legal
Representative
Start Date 15/06/2012
Date of birth 07/01/2008
Street 97 INDUSTRIELAAN
WAREGEM
Post code 8790
Country Belgium
Name MDM NV
Position Principal Manager
Start Date 26/07/2011
Date of birth 29/09/1989
Street 190 HENRI
LEBBESTRAAT WAREGEM
Post code 8790
Country Belgium
Position Legal
Representative
Start Date 26/10/2007
Date of birth 29/09/1989
Street 190 HENRI
LEBBESTRAAT WAREGEM
Post code 8790
Country Belgium
Position Non Statutory Partner
Start Date 26/10/2007
Date of birth 29/09/1989
Street 190 HENRI
LEBBESTRAAT WAREGEM
Post code 8790
Country Belgium
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.44 |
|
UK Pound |
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.