|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SEAL FOR LIFE INDUSTRIES
BVBA |
|
|
|
|
Registered Office : |
Nijverheidsstraat 13, 2260
Westerlo |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
03.02.2006 |
|
|
|
|
Com. Reg. No.: |
879163161 |
|
|
|
|
Legal Form : |
Private Limited Company
(BL/LX) |
|
|
|
|
Line of Business : |
Wholesale of other
machines and tools |
|
|
|
|
No. of Employees : |
30 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
879163161 |
|
Company name |
SEAL FOR LIFE INDUSTRIES BVBA |
|
Address |
NIJVERHEIDSSTRAAT 13 |
|
|
2260 WESTERLO |
|
Number of staff |
30 |
|
Date of establishment |
03/02/2006 |
|
Telephone number |
014722500 |
|
Fax number |
014722570 |
The business was established over 8 years ago.
The business has 20 employees.
The business has been at the address for over 15 months.
Net Worth decreased by 28% during the latest trading period.
Pre-tax profits decreased by 70% compared to the previous trading
period.
The business saw an increase in their Cash Balance of 39% during the
latest trading period.
Accounts
DATE OF LATEST
TURNOVER PROFIT BEFORE NET WORTH WORKING CAPITAL
ACCOUNTS TAX
31/12/2012 52,338,575
116,751 2,390,756 1,678,524
31/12/2011 57,123,582
399,902 3,349,665 2,736,743
31/12/2010 49,380,469
1,435,547 3,345,883 2,852,457
Accounts
DATE OF LATEST BALANCE
TOTAL NUMBER OF CAPITAL CASHFLOW
ACCOUNTS EMPLOYEES
31/12/2012 16,754,702 30 3,045,150
-826,067
31/12/2011 16,180,349
38 3,045,150
501,696
31/12/2010 15,184,183
41 3,045,150
1,195,775
|
Payment expectations |
|||
|
Past payments |
Payment expectation days |
65.65 |
|
|
Industry average payment expectation days 77.48 |
Industry average day sales outstanding |
136.31 |
|
|
Day sales outstanding 53.26 |
|||
|
Court data summary |
|||
|
BANKRUPTCY DETAILS |
|||
|
Court action type no |
|||
|
PROTESTED BILLS |
|||
|
Bill amount - |
|
|
|
|
NSSO DETAILS |
|
|
|
|
Date of summons - |
|||
|
Business number |
879163161 |
Company name |
SEAL FOR LIFE |
|
|
|
|
INDUSTRIES BVBA |
|
Fax number |
014722570 |
Date founded |
03/02/2006 |
|
Company status |
active |
Company type |
Private Limited Company |
|
|
|
|
(BL/LX) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/12/2012 |
|
Activity code |
46699 |
Liable for VAT |
yes |
|
Activity description |
Wholesale of other |
VAT Number |
BE.0879.163.161 Check |
|
|
machines and tools, n.e.c. |
|
VAT number |
|
Belgian Bullettin of Acts Publications |
moniteur belge |
|
|
|
Social Balance Sheet |
Total |
|
|
During the reporting year
ended 31-12-2012 |
||
|
Full-time Employees |
31 |
|
|
Part-time Employees |
7 |
|
|
Total Fte Employees |
36 |
|
|
|
||
|
Number of hours worked |
||
|
Full-time Employees |
50,225 |
|
|
Part-time Employees |
8,877 |
|
|
Total |
59,102 |
|
|
|
||
|
Personnel Charges |
||
|
Full-time Employees |
4,400,284 |
|
|
Part-time Employees |
977,512 |
|
|
Total |
5,377,796 |
|
|
Benefits In Addition To Wages - |
||
|
|
||
|
During the previous
reporting year |
||
|
Average number employees in
Fte |
39 |
|
|
Actual working hours |
61,326 |
|
|
Personnel Charges |
4,349,665 |
|
|
Benefits In Addition To Wages |
- |
|
|
Type of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
|
Unlimited
Duration Contracts |
27 |
5 |
31 |
|
|
Limited Duration
Contracts - - - |
||||
|
Contracts For Specific - - -Work |
||||
|
Contracts Regarding |
- |
- |
- |
|
|
Substitution |
|
|
|
|
|
|
||||
|
|
||||
|
Gender and Education |
|
|
|
|
|
Level |
|
|
|
|
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary education |
2 |
1 |
3 |
|
|
Secondairy education |
2 |
- |
2 |
|
|
Higher
education (non university) |
4 |
- |
4 |
|
|
Higher education |
7 |
1 |
8 |
|
|
(university) |
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary education |
- |
1 |
1 |
|
|
Secondairy education |
1 |
- |
1 |
|
|
Higher education (non
university) |
8 |
2 |
10 |
|
|
Higher education |
3 |
- |
3 |
|
|
(university) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Working Category |
Full-Time |
Part-Time |
Total
Fte |
|
|
Management |
- |
- |
- |
|
|
White collar worker |
23 |
3 |
25 |
|
|
Blue collar worker |
4 |
2 |
6 |
|
|
Other - - - |
||||
|
|
||||
|
|
||||
|
Temporary personnel |
|
Total |
|
|
|
Average number of temporary
staff |
1 |
|
|
|
|
Actual working hours |
|
785 |
|
|
|
Cost of temporary staff |
|
25,614 |
|
|
|
|
||||
|
|
||||
|
New staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
|
New Starters |
1 |
- |
1 |
|
|
Leavers |
6 |
3 |
8 |
|
|
for workers paid by the employer |
Male |
Female |
|
Number of employees |
17 |
15 |
|
Number of training hours |
211 |
51 |
|
Net costs for enterprise |
24,802 |
6,316 |
|
Total of less formal and informal continuing
vocational training initiatives for workers paid by the employer |
Male |
Female |
|
Number of employees |
1 |
1 |
|
Number of training hours |
126 |
52 |
|
Net costs for enterprise |
5,040 |
2,080 |
|
Total of initial training initiatives at the
expense of the employer |
Male |
Female |
|
Number of employees
- - |
||
|
Number of training hours
- - |
||
|
Net costs for enterprise
- - |
||
Personnel (NSSO classification)
|
Code - |
|
|
Description |
FROM 20 TO 49 EMPLOYEES |
|
Joint Industrial Committee (JIC) |
|
|
JIC Code |
111 |
|
Description |
JC for the metal, machinery and electrical
construction |
|
category |
|
|
JIC Code |
209 |
|
Description |
Joint committee for the employees off the
metal industry |
|
category |
|
|
Significant Events |
|
|
Event Date |
09/11/2009 |
|
Event Description |
proposal of merger by absorption filed |
|
Event Details |
Commentaar 09-11-2009: Neerlegging
fusievoorstel tot grensoverschrijdende fusie door overneming van Ociesse SRL (Italie)
door Berry Plastics BVBA. |
|
Event Date |
06/12/2013 |
|
Event Description Event Details |
authority appointed Commentaar 06-12-2013: De lastgeving en
volmacht die aan Luc Geukens toegekend werd wordt ingetrokken en dit met
onmiddelijk ingang. Volmacht wordt verleend aan Katrien Boonen : ondertekenen
van de dagelijkse briefwisseling. |
|
Event Date |
19/01/2012 |
|
Event Description |
authority appointed |
|
Event Details |
Commentaar 01-02-2012: Beslissing om de last-
en volmacht van de heer Wim Vandenbrande in te trekken met ingang van 1
februari 2012. Volmacht wordt gegeven aan Marleen Aerts voor het ondertekenen
van de dagelijkse briefwisseling. |
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
52,338,575 |
-8.38 |
57,123,582 |
15.68 |
49,380,469 |
9,353,766 |
459 |
|
Total operating expenses |
51,696,881 |
-8.30 |
56,374,285 |
18.10 |
47,732,484 |
9,095,650 |
468 |
|
Operating result |
641,694 |
-14.36 |
749,297 |
-54.53 |
1,647,985 |
163,223 |
293 |
|
Total financial income |
684,203 |
-27.29 |
940,957 |
-45.43 |
1,724,220 |
57,383 |
1092 |
|
Total financial expenses |
1,209,146 |
-6.29 |
1,290,352 |
-33.37 |
1,936,658 |
52,197 |
2216 |
|
Results on ordinary operations before taxation |
116,751 |
-70.81 |
399,902 |
-72.14 |
1,435,547 |
165,450 |
-29.43 |
|
Taxation |
-93 |
-100 |
191,116 |
-62.70 |
512,383 |
57,398 |
-100 |
|
Results on ordinary operations after taxation |
116,844 |
-44.04 |
208,786 |
-77.38 |
923,164 |
118,371 |
-1.29 |
|
Extraordinary items |
-1,075,754 |
-973 |
123,208 |
1476 |
-8,344 |
-23,077 |
-4561 |
|
Other appropriations |
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
Net result |
-958,909 |
-388 |
331,994 |
-63.71 |
914,820 |
95,577 |
-1103 |
|
OTHER INFORMATION |
|
|
|
|
|
|
|
|
Gross Operating Margin |
- |
- |
- |
- |
- |
277,233 |
- |
|
Dividends |
- |
- |
331,994 |
-63.71 |
914,820 |
350,653 |
- |
|
Director remuneration |
- |
- |
- |
- |
- |
152,702 |
- |
|
Employee costs |
5,382,881 |
23.58 |
4,355,653 |
-5.67 |
4,617,249 |
647,771 |
730 |
|
Wages and salary |
4,206,905 |
32.71 |
3,169,997 |
-6.78 |
3,400,472 |
474,504 |
786 |
|
Employee pension costs |
5,085 |
- |
5,989 |
- |
8,867 |
23,494 |
-78.36 |
|
Social security contributions |
857,518 |
4.30 |
822,151 |
3.95 |
790,915 |
143,773 |
496 |
|
Other employee costs |
313,373 |
-12.35 |
357,517 |
-14.26 |
416,995 |
33,233 |
842 |
|
Amortization and depreciation |
132,842 |
-21.72 |
169,702 |
-39.60 |
280,955 |
70,999 |
87.10 |
|
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 |
0 |
- |
0 |
- |
3,782 |
29,666 |
-100 |
|||
|
Tangible fixed assets |
615,946 |
21.31 |
507,725 |
18.58 |
428,161 |
356,903 |
72.58 |
|||
|
Land & building |
- |
- |
- |
- |
- |
460,371 |
- |
|||
|
Plant & machinery |
591,374 |
27.74 |
462,951 |
23.87 |
373,738 |
76,101 |
677 |
|||
|
Furniture & Vehicles |
13,444 |
-28.11 |
18,700 |
82.24 |
10,261 |
42,196
16,454 |
-68.14 |
|||
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
128,022
15,821 |
- |
|||
|
Other tangible assets |
11,127 |
-57.32 |
26,074 |
-40.96 |
44,162 |
14,048 |
-20.79 |
|||
|
Financial fixed assets |
99,425 |
-12.34 |
113,422 |
41.90 |
79,931 |
1,386,242 |
-92.83 |
|||
|
Total fixed assets |
715,371 |
15.17 |
621,147 |
21.35 |
511,874 |
1,280,488 |
-44.13 |
|||
|
Inventories |
6,919,377 |
28.52 |
5,384,008 |
-10.32 |
6,003,621 |
700,829 |
887 |
|||
|
Raw materials & consumables |
1,029,253 |
81.85 |
565,974 |
-20.01 |
707,537 |
533,498 |
92.93 |
|||
|
Work in progress |
367,793 |
123 |
164,596 |
-26.38 |
223,572 |
45,878 |
701 |
|||
|
Finished goods |
5,522,331 |
18.67 |
4,653,438 |
-8.26 |
5,072,512 |
304,201 |
1715 |
|||
|
Other stocks |
0 |
- |
0 |
- |
0 |
146,059 |
-100 |
|||
|
Trade debtors |
7,636,700 |
-15.76 |
9,065,496 |
30.81 |
6,930,253 |
676,772 |
1028 |
|||
|
Cash |
1,351,116 |
39.99 |
965,119 |
-20.95 |
1,220,936 |
384,767 |
251 |
|||
|
other amounts receivable |
31,104 |
-66.06 |
91,651 |
-79.79 |
453,402 |
346,090 |
-91.01 |
|||
|
Miscellaneous current assets |
101,034 |
90.89 |
52,928 |
-17.43 |
64,097 |
74,014 |
36.51 |
|||
|
Total current assets |
16,039,331 |
3.09 |
15,559,202 |
6.04 |
14,672,309 |
1,976,106 |
711 |
|||
|
Total Assets |
16,754,702 |
3.55 |
16,180,349 |
6.56 |
15,184,183 |
3,174,035
605,034 |
427 |
|||
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|||
|
Trade creditors |
9,298,456 |
2.79 |
9,045,802 |
32.28 |
6,838,499 |
581,218 |
1499 |
|||
|
Short term group loans
|
- |
- |
- |
- |
- |
- |
- |
|||
|
Financial debts |
4,000,000 |
300 |
1,000,000 |
-55.56 |
2,250,000 |
410,815
50,678 |
873 |
|||
|
Current portion of long term debt |
- |
- |
- |
- |
- |
65,796
24,988 |
- |
|||
|
Amounts Payable for Taxes, Remuneration & Social
Security |
822,339 |
-40.92 |
1,391,906 |
18.94 |
1,170,276 |
29,147 - |
603 |
|||
|
Miscellaneous current liabilities |
240,012 |
-82.67 |
1,384,751 |
-11.30 |
1,561,077 |
-9.79 |
-- |
|||
|
Total current liabilities |
14,360,807 |
12.00 |
12,822,459 |
8.48 |
11,819,852 |
1,136,254 |
1163 |
|||
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|||
|
Long term group loans |
- |
- |
- |
- |
- |
- |
-- |
|||
|
Other long term loans |
- |
- |
- |
- |
- |
- |
-- |
|||
|
D effered taxes |
- |
- |
- |
- |
- |
44,840 8,247 |
- |
|||
|
Provisions for Liabilities & Charges |
3,139 |
-61.83 |
8,225 |
-43.92 |
14,666 |
32,623 0 |
-90.38 |
|||
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
580,401 |
-100 |
|||
|
Total long term debts |
3,139 |
-61.83 |
8,225 |
-43.92 |
14,666 |
815,216 |
-99 |
|||
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|||
|
Issued share capital |
3,045,150 |
0 |
3,045,150 |
0 |
3,045,150 |
532,241 |
472 |
|||
|
Share premium account |
- |
- |
- |
- |
- |
1,174,032 |
- |
|||
|
Reserves |
-654,394 |
-314 |
304,515 |
0 |
304,515 |
635,766 |
-202 |
|||
|
Revaluation reserve |
- |
- |
- |
- |
- |
216,542 |
- |
|||
|
Total shareholders equity |
2,390,756 |
-28.63 |
3,349,665 |
0 |
3,349,665 |
1,220,353 |
95.91 |
|||
|
Working capital |
1,678,524 |
-38.67 |
2,736,743 |
-4.06 |
2,852,457 |
839,852 |
99 |
|||
|
Cashflow |
-826,067 |
-264 |
501,696 |
-58.04 |
1,195,775 |
160,044 |
-616 |
|||
|
Net worth |
2,390,756 |
-28.63 |
3,349,665 |
0. 11 |
3,345,883 |
1,190,688 |
100 |
|||
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
0.22 |
-68.57 |
0.70 |
-75.95 |
2.91 |
151,00 |
-99 |
|
Return on capital employed |
4.88 |
-59.03 |
11.91 |
-72.09 |
42.67 |
103,00 |
-95.26 |
|
Return on total assets employed |
0.70 |
-71.66 |
2.47 |
-73.86 |
9.45 |
107,00 |
-99 |
|
Return on net assets employed |
4.88 |
-59.13 |
11.94 |
-72.14 |
42.86 |
117,00 |
-95.83 |
|
Sales / net working capital |
31.18 |
49.40 |
20.87 |
20.57 |
17.31 |
8,00 |
-99 |
|
Stock turnover ratio |
13.22 |
40.19 |
9.43 |
-22.45 |
12.16 |
22,00 |
-39.91 |
|
Debtor days |
53.26 |
-8.06 |
57.93 |
13.08 |
51.23 |
292,00 |
-81.76 |
|
Creditor days |
65.65 |
12.09 |
58.57 |
12.01 |
52.29 |
115,00 |
-42.91 |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
Current ratio |
1.12 |
-7.44 |
1.21 |
-2.42 |
1.24 |
28,00 |
-77.60 |
|
Liquidity ratio / acid ratio |
0.64 |
-18.99 |
0.79 |
8.22 |
0.73 |
27,00 |
-97.63 |
|
Current debt ratio |
6.01 |
56.92 |
3.83 |
8.50 |
3.53 |
5,00 |
20.20 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
167.31 |
460 |
29.85 |
-55.56 |
67.17 |
128,00 |
30.71 |
|
Equity in percentage |
14.27 |
-31.06 |
20.70 |
-6.21 |
22.07 |
-1.334,00 |
1.07 |
|
Total debt ratio |
6.01 |
56.92 |
3.83 |
8.50 |
3.53 |
6,00 |
0.17 |
Payment expectations
Payment expectation days 65.65
Day sales outstanding 53.26
Industry comparison
Activity code 46699
Activity description Wholesale of other
machines and tools, n.e.c.
Industry average payment
expectation days 77.48
Industry average day sales
Outstanding 136.31
Industry quartile analysis
Payment expectations
Company result 65.65
Lower 102.89
Median 72.73
Upper 46.07
Day sales outstanding
Company result 53.26
Lower 78.05
Median 45.38
Upper 23.24
Group Structure
No group structure
for this company.
Minority Shareholders
|
Company name |
|
BERRY PLASTICS ACQUISITION CORPORATION V |
|
BERRY PLASTICS CORP |
Minority Interests
No minority interests found
NSSO details
Business number 879163161
Name of defendant -
Legal form of defendant -
Date of summons -
Labour court -
Bankruptcy details
There is no bankruptcy data
against this company
court data
there is no data for this
company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NNA |
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.