MIRA
INFORM REPORT
|
Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
EICHHOLTZ B.V. |
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Registered Office : |
Delfweg 52, 2211VN Noordwijkerhout |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.10.1992 |
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Com. Reg. No.: |
28060994 |
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Legal Form : |
Private Company |
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Line of Business : |
· Wholesaler of home furniture Wholesaler of furnishing textiles and floor coverings |
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No. of Employees : |
44 (2013) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
||||
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
The Dutch
economy is the sixth-largest economy in the euro-zone and is noted for its
stable industrial relations, moderate unemployment and inflation, a sizable trade
surplus, and an 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. The Netherlands, along with 11 of its EU partners,
began circulating the euro currency on 1 January 2002. 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 as a result of the global financial crisis. The Dutch financial sector
suffered, due in part to the high exposure of some Dutch banks to U.S. 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. The government also 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 fiscal consolidation measures in early 2011, mainly
reductions in expenditures, which resulted in an improved budget deficit in 2011.
In 2012 tax revenues dropped nearly 9%, GDP contracted, and the budget deficit
deteriorated. Although jobless claims continued to grow, the unemployment rate
remained relatively low at 6.8 percent.
Source : CIA
Summary
Company name Eichholtz B.V.
Operative address Delfweg
52
2211VN Noordwijkerhout
Netherlands
Status Active
Legal form Besloten
Vennootschap (Private Company)
Registration number KvK-nummer:
28060994
VAT-number 807053600
|
Year |
2011 |
Mutation |
2010 |
Mutation |
2009 |
|
Fixed assets |
1.767.620 |
10,26 |
1.603.181 |
103,55 |
787.606 |
|
Total
receivables |
1.282.076 |
-20,52 |
1.613.165 |
1,74 |
1.585.594 |
|
Total equity |
8.912.599 |
16,52 |
7.649.314 |
49,84 |
5.104.906 |
|
Short term
liabilities |
4.060.003 |
-39,88 |
6.753.387 |
66,37 |
4.059.265 |
|
Net result |
5.263.285 |
15,82 |
4.544.288 |
32,61 |
3.426.877 |
|
Working
capital |
7.392.884 |
22,27 |
6.046.133 |
40,04 |
4.317.300 |
|
Quick ratio |
1,16 |
38,10 |
0,84 |
-28,21 |
1,17 |
Contact information
Company name Eichholtz
B.V.
Trade names Eichholtz
B.V.
Eichholtz
Eichholtz®
Operative address Delfweg
52
2211VN Noordwijkerhout
Netherlands
Correspondence
address Postbus
23
2160AA Lisse
Netherlands
Telephone number 0252515850
Fax number 0252521364
Email address info@eichholtz.nl
Website www.eichholtz.nl
Registration
Registration number KvK-nummer:
28060994
Branch number 000019842902
VAT-number 807053600
Status Active
First registration
company register 1998-04-08
Memorandum 1998-03-31
Establishment date 1992-10-01
Legal form Besloten
Vennootschap (Private Company)
Legal person since 1998-03-31
Last proposed
admendment 2011-04-04
Activities
Activities
SBI Wholesale
of home furniture (46471)
Wholesale
of furnishing textiles and floor coverings (46472)
Exporter Yes
Importer Yes
Branche organisations Centrale Bond van
Meubelfabrikanten
(Central
Association of Furniture Manufacturers)
Goal Import,
export van, groothandel in meubelen, antiek, textiel, interieurbenodigdheden en
overige artikelen voor binnen- en buitenhuis
(Import, export, wholesale furniture, antiques, textiles,
furniture and interior
Other items for indoor and outdoor)
Relations
Shareholders Eichholtz
Vastgoed B.V.
Delfweg 52
2211VN
NOORDWIJKERHOUT
Netherlands
Registration number: 281003320000
Percentage: 100.00%
Management
Active management
T.F. Eichholtz Holding B.V.
Delfweg 52
2211VN NOORDWIJKERHOUT
Netherlands
Registration number: 341037980000
Competence: Fully authorized
Function: Manager
Starting date: 1998-03-31
C. Spijker (Cornelis)
Netherlands
Competence: Limited authorization
Function: Manager
Starting date: 2013-12-01
Date of birth: 1967-04-03, Hilversum, NL
Involved with the following companies
• Markant Nederland B.V.
Reactorweg 9A
3542AD Utrecht
Netherlands
Registration number: 301680340000
Function: Manager
A.B. Wichers (Auke Bart)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2000-01-01
Date of birth: 1966-09-04, Amsterdam, NL
J.A. van 't Leven (Johannes Anthonie)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-12-01
Date of birth: 1982-07-15,
Noordwijkerhout, NL
Employees
Total according to
the Chamber of Commerce 44
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Total |
44 |
44 |
44 |
29 |
32 |
Payments
Description Payments
made under regular condition
Key figures
Key figures
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
Quick ratio |
1,16 |
0,84 |
1,17 |
5,65 |
3,91 |
|
Current ratio |
2,82 |
1,90 |
2,06 |
7,62 |
5,96 |
|
Working capital/ balance
total |
0,56 |
0,42 |
0,47 |
0,84 |
0,79 |
|
Equity / balance total |
0,67 |
0,53 |
0,56 |
0,87 |
0,84 |
|
Equity / Fixed assets |
5,04 |
4,77 |
6,48 |
23,08 |
18,20 |
|
Equity / liabilities |
2,07 |
1,13 |
1,26 |
6,92 |
5,25 |
|
Balance total / liabilities |
3,07 |
2,13 |
2,26 |
7,92 |
6,25 |
|
Working capital |
7.392.884 |
6.046.133 |
4.317.300 |
14.998.683 |
9.645.524 |
|
Equity |
8.912.599 |
7.649.314 |
5.104.906 |
15.678.029 |
10.206.354 |
|
Mutation equity |
16,52 |
49,84 |
-67,44 |
53,61 |
83,60 |
|
Mutation short term
liabilities |
-39,88 |
66,37 |
79,15 |
16,45 |
-67,09 |
|
Return on total assets (ROA) |
53,13 |
42,35 |
50,19 |
40,83 |
51,28 |
|
Return on equity (ROE) |
78,82 |
79,74 |
90,11 |
46,73 |
61,06 |
|
Gross margin |
14.518.357 |
12.451.035 |
10.002.008 |
12.532.430 |
10.447.071 |
|
Operating result |
7.063.568 |
6.160.523 |
4.573.936 |
7.321.393 |
6.419.016 |
|
Net result after taxes |
5.263.285 |
4.544.288 |
3.426.877 |
5.471.676 |
4.644.708 |
|
Cashflow |
5.659.276 |
4.847.145 |
3.602.899 |
5.602.325 |
4.761.206 |
|
EBIT |
7.063.568 |
6.160.523 |
4.573.936 |
7.321.393 |
6.419.016 |
|
EBITDA |
7.459.559 |
6.463.380 |
4.749.958 |
7.452.042 |
6.535.514 |
Summary
The 2011 financial result structure is a positive working
capital of 7.392.884 euro, which is in
agreement with 56 % of the total assets of the company.
The working capital has increased with 22.27 % compared to
previous year. The ratio, with
respect to the total assets of the company has however,
increased.
The improvement between 2010 and 2011 has mainly been
caused by an increase of the
current assets.
The current ratio of the company in 2011 was 2.82. A
company with a current ratio between
1.5 and 3.0 generally indicates good short-term financial
strength.
The quick ratio in 2011 of the company was 1.16. A company
with a Quick Ratio of more than
1 can currently pay back its current liabilities.
The 2010 financial result structure is a positive working
capital of 6.046.133 euro, which is in
agreement with 42 % of the total assets of the company.
The working capital has increase with 40.04 % compared to
previous year. The ratio with
respect to the total assets of the company has however,
declined.
The improvement between 2009 and 2010 has mainly been caused
by a current liabilities
reduction.
The current ratio of the company in 2010 was 1.9. A
company with a current ratio between
1.5 and 3.0 generally indicates good short-term financial
strength.
The quick ratio in 2010 of the company was 0.84. A company
with a Quick Ratio of less than
1 cannot currently pay back
its current liabilities
Financial statement
Type of annual account Corporate
Annual account Eichholtz
B.V.
Delfweg 52
2211VN Noordwijkerhout
Netherlands
Registration
number: 28060994
Balance sheet
|
Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
End date |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
2007-12-31 |
|
Tangible fixed assets |
1.767.620 |
1.603.181 |
787.606 |
679.346 |
560.830 |
|
Fixed assets |
1.767.620 |
1.603.181 |
787.606 |
679.346 |
560.830 |
|
Inventories |
6.734.544 |
7.112.713 |
3.625.864 |
4.453.234 |
3.979.483 |
|
Accounts receivable |
1.043.690 |
955.295 |
690.072 |
1.226.078 |
2.356.256 |
|
Other receivables |
238.386 |
657.870 |
895.522 |
1.448.474 |
2.345.887 |
|
Total receivables |
1.282.076 |
1.613.165 |
1.585.594 |
2.674.552 |
4.702.143 |
|
Liquid funds |
3.436.267 |
4.073.642 |
3.165.107 |
10.136.783 |
2.909.638 |
|
Current assets |
11.452.887 |
12.799.520 |
8.376.565 |
17.264.569 |
11.591.264 |
|
Total assets |
13.220.507 |
14.402.701 |
9.164.171 |
17.943.915 |
12.152.094 |
|
Total equity |
8.912.599 |
7.649.314 |
5.104.906 |
15.678.029 |
10.206.354 |
|
Provisions |
247.905 |
|
|
|
|
|
Accounts payable |
659.395 |
948.715 |
360.114 |
325.581 |
535.783 |
|
Other short term liabilities |
3.400.608 |
5.804.672 |
3.699.151 |
1.940.305 |
1.409.957 |
|
Short term liabilities |
4.060.003 |
6.753.387 |
4.059.265 |
2.265.886 |
1.945.740 |
|
Total short and long term liabilities |
4.307.908 |
6.753.387 |
4.059.265 |
2.265.886 |
1.945.740 |
|
Total liabilities |
13.220.507 |
14.402.701 |
9.164.171 |
17.943.915 |
12.152.094 |
Summary
The total assets of the company decreased with -8.21 %
between 2010 and 2011.
Despite the total assets decrease, non current assets grew
with 10.26 %.
The asset reduction is in contrast with the equity growth
of 16.52 %. Due to this the total debt
decreased with -36.21 %.
In 2011 the assets of the company were 13.37 % composed of
fixed assets and 86.63 % by
current assets. The assets are being financed by an equity
of 67.41 %, and total debt of
32.59 %.
The total assets of the company increased with 57.16 %
between 2009 and 2010.
The total asset increase is retrievable in the fixed asset
growth of 103.55 %.
The asset growth has mainly been financed by a debt
increase of 49.84 %. The Net Worth,
however, grew with 66.37 %.
In 2010 the assets of the company were 11.13 % composed of
fixed assets and 88.87 % by
current assets. The assets are being financed by an equity
of 53.11 %, and total debt of
46.89 %.
Profit and loss
Year 2011
2010 2009 2008 2007
Gross margin 14.518.357
12.451.035 10.002.008 12.532.430
10.447.071
Wages and salaries 2.869.775
2.274.616 1.950.980 2.195.953
1.974.925
Amorization and depreciation 395.991 302.857
176.022 130.649 116.498
other operating costs 4.189.023 3.713.039 3.301.070 2.884.435
1.936.632
Operating expenses 7.454.789
6.290.512 5.428.072 5.211.037 4.028.055
Operating result 7.063.568 6.160.523 4.573.936 7.321.393
6.419.016
Financial income 7.218 15.739
61.874 267.573 63.954
Financial expenses 46.291
76.547 35.976 262.515 250.947
Financial result -39.073 -60.808
25.898 5.058 -186.993
Result on ordinary operations
before taxes 7.024.495
6.099.715 4.599.834 7.326.451
6.232.023
Taxation on the result
of ordinary activities 1.761.210
1.555.427 1.172.957 1.854.775
1.587.315
Result of ordinary activities
after taxes 5.263.285
4.544.288 3.426.877 5.471.676
4.644.708
Net result 5.263.285
4.544.288 3.426.877 5.471.676
4.644.708
Summary
The gross profit of the company grew with 16.6 % between
2010 and 2011.
The operating result of the company grew with 14.66 %
between 2010 and 2011. This
evolution implies an increase of the company's economic
profitability.
The result of these changes is an increase of the
company's Economic Profitability of 25.45
% of the analysed period, being equal to 2010 % in the
year 2011.
The Net Result of the company decreased by 15.82 % between
2010 and 2011.
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 -1.15 % of the analysed period, being 78.82 % in the
year 2011.
The company's financial profitability has been positively
affected by its financial structure.
The gross profit of the company grew with 24.49 % between
2009 and 2010.
The operating result of the company grew with 34.69 %
between 2009 and 2010. This
evolution implies an increase of the company's economic
profitability.
The result of these changes is a reduction of the company's
Economic Profitability of -15.62
% of the analysed period, being equal to 2009 % in the
year 2010.
The Net Result of the company decreased by 32.61 % between
2009 and 2010.
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
-11.51 % of the analysed period, being 79.74 % in the year
2010.
The company's financial
profitability has been positively affected by its financial structure.
Analysis
Branch (SBI) Groothandel
en Wholesale on a fee or contract basis (niet in auto’s en motorfietsen) (46)
Region Rijnland
In the Netherlands 107516 of
the companies are registered with the SBI code 46
In the region Rijnland 4298 of
the companies are registered with the SBI code 46
In the Netherlands 2108 of the
bankrupcties are published within this sector
In the region Rijnland 86 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 Rijnland is normal
Publications
Filings 22-07-2013:
De jaarrekening over 2011 is gepubliceerd.
27-02-2012: De jaarrekening
over 2010 is gepubliceerd.
28-09-2010: De jaarrekening
over 2009 is gepubliceerd.
23-12-2009: De jaarrekening
over 2008 is gepubliceerd.
20-02-2009: De jaarrekening
over 2007 is gepubliceerd.
Functions 19-12-2013:
Per 01-12-2013 is gevolmachtigde Johannes Anthonie van 't Leven in functie
getreden.
19-12-2013:
Per 01-12-2013 is gevolmachtigde Cornelis Spijker in functie getreden.
Amendments 11-04-2011:
Geplaatst kapitaal gewijzigd in EUR 18.148,00 Gestort kapitaal gewijzigd in EUR
18.148,00.
11-04-2011:
Per 4-4-2011 statuten gewijzigd. Per 4-4-2011 naam gewijzigd in: Eichholtz
B.V..
Zetel gewijzigd in: Noordwijkerhout.
Company
structure
Relations
4
T.F. Eichholtz Holding B.V.
Delfweg 52
2211VN NOORDWIJKERHOUT
Netherlands
Registration number: 341037980000
• Eichholtz Vastgoed B.V.
Delfweg 52
2211VN NOORDWIJKERHOUT
Netherlands
Registration number: 281003320000
• Eichholtz B.V.
Delfweg 52
2211VN Noordwijkerhout
Netherlands
Registration number: 28060994
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
UK Pound |
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
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.