MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARS BELGIUM NV |
|
|
|
|
Registered Office : |
Kleine
Kloosterstraat 8, 1932 Zaventem |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
12.09.1977 |
|
|
|
|
Com. Reg. No.: |
417521454 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company |
|
|
|
|
Line of Business : |
Non-specialised
wholesaler of non-deepfrozen foods, beverages, alcohol and tobacco |
|
|
|
|
No of Employees : |
333 (31.12.2012) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
COMPANY
SUMMARY
|
Business number |
417521454 |
|
Company name |
MARS
BELGIUM NV |
|
Registered Address |
KLEINE
KLOOSTERSTRAAT 8 |
|
|
1932
ZAVENTEM |
|
|
|
|
Operating
Address |
Industrialaan 7, 2250 |
|
|
Fpps Code #211 Olen |
|
|
|
|
Number of staff |
333 (31.12.2012) |
|
Date of establishment |
12/09/1977 |
|
Telephone number |
014251811 |
|
Fax number |
014251802 |
Ultimate
holding company
Company name
MARS,
INCORPORATED
COMMENTARY
|
The business was established
over 36 years ago. |
|
|
The business has 333
employees. |
|
|
The business is part of a
group. |
|
|
The business has been at the
address for over 17 years. |
|
|
Net Worth decreased by 152%
during the latest trading period. |
|
|
A 33% growth in Total Assets
occurred during the latest trading period. |
|
|
Net Worth is a negative amount
during the latest trading period. |
|
Accounts
DATE OF LATEST
ACCOUNTS TURNOVER PROFIT BEFORE TAX NET WORTH WORKING
CAPITAL
31/12/2012 284,724,924
33,616,564 -23,456,875 11,825,701
31/12/2011 284,979,981 32,094,718 44,854,275 34,129,566
31/12/2010 279,659,351
28,024,964 62,036,054 53,271,375
Accounts
DATE OF LATEST
ACCOUNTS BALANCE TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2012 247,193,708
333 3,702,000 26,731,634
31/12/2011 184,812,942 307 3,702,000 23,143,230
31/12/2010 185,726,314 299 3,702,000 20,858,753
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
Past payments
Industry average payment 56.16
expectation days
Day sales outstanding 53.38
Payment expectation days 68.58
Industry average day sales 95.14
outstanding
Court
data summary
BANKRUPTCY DETAILS
Court action type no
Company
information
|
Business number |
417521454 |
Company
name |
MARS
BELGIUM NV |
|
Fax number |
014251802 |
Date
founded |
12/09/1977 |
|
Company status |
active |
Company
type |
Public Limited Liability Company (BE) |
|
Currency |
Euro
(€) |
Date
of latest accounts |
31/12/2012 |
|
Activity code |
46392 |
Liable
for VAT |
yes |
|
Activity description |
Non-specialised wholesaler of non-deepfrozen foods, beverages,
alcohol and tobacco |
VAT
Number |
BE.0417.521.454
Check
VAT number |
|
|
|
|
|
|
Belgian Bullettin of Acts
Publications |
Moniteur Belge |
||
Social
Balance Sheet Details
|
Social Balance Sheet |
Total |
|
|
During the reporting year |
|
|
|
ended 31-12-2012 |
|
|
|
Full-time Employees |
293 |
|
|
Part-time Employees |
30 |
|
|
Total Fte Employees |
315 |
|
|
|
||
|
Number of hours worked |
||
|
Full-time Employees |
469,186 |
|
|
Part-time Employees |
34,062 |
|
|
Total |
503,248 |
|
|
|
||
|
Personnel Charges |
||
|
Full-time Employees |
32,864,849 |
|
|
Part-time Employees |
2,199,133 |
|
|
Total |
35,063,982 |
|
|
Benefits In Addition To Wages |
639,019 |
|
|
|
||
|
During the previous reporting year |
||
|
Average number employees in Fte |
298 |
|
|
Actual working hours |
482,340 |
|
|
Personnel Charges |
29,351,445 |
|
|
Benefits In Addition To Wages |
639,781 |
|
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
298 |
32 |
323 |
|
Limited Duration Contracts |
2 |
1 |
3 |
|
Contracts For Specific Work |
- |
- |
- |
|
Contracts Regarding
Substitution |
- |
- |
- |
|
|
|||
|
Gender and Education Level |
|||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
2 |
- |
2 |
|
Secondary education |
85 |
6 |
90 |
|
Higher education (non
university) |
35 |
3 |
38 |
|
Higher education (university) |
71 |
- |
71 |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondary education |
11 |
3 |
13 |
|
Higher education (non
university) |
35 |
15 |
46 |
|
Higher education (university) |
61 |
6 |
66 |
|
|
|||
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
11 |
1 |
12 |
|
White collar worker |
289 |
32 |
314 |
|
Blue collar worker |
- |
- |
- |
|
Other |
- |
- |
- |
|
|
|||
|
Temporary personnel |
|
Total |
|
|
Average number of temporary
staff |
17 |
|
|
|
Actual working hours |
|
33,866 |
|
|
Cost of temporary staff |
|
898,801 |
|
|
|
|||
|
New staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
New Starters |
41 |
1 |
42 |
|
Leavers |
23 |
- |
23 |
|
Total of formal continuing
vocational training initiatives |
||
|
for workers paid by the
employer |
Male |
Female |
|
Number of employees |
188 |
114 |
|
Number of training hours |
4,419 |
2,656 |
|
Net costs for enterprise |
490,668 |
315,575 |
|
Total of less formal and
informal continuing vocational training initiatives for workers paid by the
employer |
Male |
Female |
|
Number of employees |
57 |
58 |
|
Number of training hours |
229 |
133 |
|
Net costs for enterprise |
14,179 |
6,503 |
Joint
Industrial Committee
(JIC)
Significant Events
Event Date 23/01/2014
Event Details Rectificatie : het bestuurdersmandaat van Leonid
Sudakov is ingegaan op 1/10/2013 en
niet op 23/8/2013.
COMPANY
ACCOUNTS
Comparison Mode
·
Average Median Export
accounts to CSV File
Profit & Loss
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
EUR |
EUR |
||||
|
Turnover |
284,724,924 |
-0.09 |
284,979,981 |
1.90 |
279,659,351 |
6,904,741 |
4023 |
|
Total operating expenses |
253,354,158 |
-0.90 |
255,665,277 |
1.16 |
252,735,885 |
6,613,828 |
3730 |
|
Operating result |
31,370,766 |
7.01 |
29,314,704 |
8.88 |
26,923,466 |
114,899 |
27202 |
|
Total financial income |
3,480,526 |
-28.83 |
4,890,524 |
88.49 |
2,594,641 |
19,184 |
18042 |
|
Total financial expenses |
1,234,728 |
-41.50 |
2,110,510 |
41.35 |
1,493,143 |
21,868 |
5546 |
|
Results on ordinary operations before taxation |
33,616,564 |
4.74 |
32,094,71
8 |
14.52 |
28,024,964 |
109,251 |
30670 |
|
Taxation |
11,248,804 |
-1.33 |
11,400,497 |
20.99 |
9,422,602 |
53,366 |
20978 |
|
Results on ordinary operations after taxation |
22,367,760 |
8.09 |
20,694,221 |
11.25 |
18,602,362 |
72,195 |
30882 |
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
2,616 |
-100 |
|
Other appropriations |
0 |
- |
0 |
-100 |
6616 |
- |
- |
|
Net result OTHER INFORMATION |
22,367,760 |
8.09 |
20,694,221 |
11.21 |
18,608,978 |
75,240 |
29628 |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
226,227 |
- |
|
Dividends |
1
9,108,207 |
-49.55 |
37,876,000 |
- |
- |
301,160 |
6244 |
|
Director remuneration |
- |
- |
- |
- |
- |
435,008 |
- |
|
Employee costs |
35,063,982 |
19.46 |
29,351,445 |
-3.60 |
30,446,691 |
429,771 |
8058 |
|
Wages and salary |
24,589,664 |
23.28 |
19,946,677 |
-3.98 |
20,772,538 |
323,282 |
7506 |
|
Employee pension costs |
- |
- |
- |
- |
- |
1,237 |
- |
|
Social security contributions |
7,451,666 |
12.47 |
6,625,549 |
-1.60 |
6,733,484 |
107,147 |
6854 |
|
Other employee costs |
3,022,652 |
8.76 |
2,779,21 9 |
-5.49 |
2,940,669 |
12,739 |
23627 |
|
Amortization and depreciation |
4,363,874 |
78.19 |
2,449,009 |
8.86 |
2,249,775 |
69,431 |
6185 |
Balance Sheet
|
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 |
71,570,703 |
- |
0 |
- |
0 |
9,777 |
731931 |
||||||
|
Tangible fixed assets |
19,617,522 |
64.29 |
11,941,072 |
37.17 |
8,705,535 |
499,168 |
3830 |
||||||
|
Land & building |
2,288,103 |
27.66 |
1,792,356 |
-7.75 |
1,942,91 3 |
746,030 |
206 |
||||||
|
Plant & machinery |
5,725,753 |
-0.02 |
5,726,977 |
1.70 |
5,631,314 |
88,113 |
6398 |
||||||
|
Furniture & Vehicles |
1, 194,205 |
-14.77 |
1,401,21 8 |
23.86 |
1,131,308 |
37,488
12,861 |
3085 |
||||||
|
Leasing & Other Similar Rights |
1,248,491 |
-9.12 |
1,373,826 |
- |
- |
145,734
14,377 |
756 |
||||||
|
Other tangible assets |
9,160,970 |
456 |
1,646,695 |
- |
0 |
34,107 |
26759 |
||||||
|
Financial fixed assets |
57,345 |
78.49 |
32,128 |
-45.68 |
59,144 |
1 98,720 |
-71.14 |
||||||
|
Total fixed assets |
91,245,570 |
662 |
11,973,200 |
36.61 |
8,764,679 |
609,748 |
14864 |
||||||
|
Inventories |
13,511,596 |
12.82 |
11,976,197 |
1.67 |
11,779,611 |
336,392 |
3916 |
||||||
|
Raw materials & consumables |
2,049,778 |
-5.23 |
2,162,939 |
11.24 |
1,944,440 |
434,697 |
371 |
||||||
|
Work in progress |
729,822 |
-20.52 |
918,220 |
-2.25 |
939,389 |
1,036 |
70346 |
||||||
|
Finished goods |
10,731,996 |
20.65 |
8,895,038 |
-0.01 |
8,895,782 |
1 00,535 |
10574 |
||||||
|
Other stocks |
0 |
- |
0 |
- |
0 |
111,071 |
-100 |
||||||
|
Trade debtors |
41,638,174 |
21.01 |
34,409,902 |
23.74 |
27,808,293 |
340,057 |
12144 |
||||||
|
Cash |
1,225,479 |
-18.02 |
1,494,932 |
-42.18 |
2,585,685 |
171,364 |
615 |
||||||
|
other amounts receivable |
94,819,958 |
-16.89 |
114,089,099 |
-13.42 |
1
31,766,978 |
1 36,669 |
69279 |
||||||
|
Miscellaneous current assets |
4,752,931 |
-56.27 |
1
0,869,612 |
259 |
3,021,068 |
53,963 |
8707 |
||||||
|
Total current assets |
155,948,138 |
-9.77 |
172,839,742 |
-2.33 |
176,961,635 |
909,953 |
17038 |
||||||
|
Total Assets |
247,193,708 |
33.75 |
1 84,812,942 |
-0.49 |
1
85,726,314 |
1,457,339
314,348 |
16861 |
||||||
|
Current liabilities |
|
|
|
|
|
|
|
||||||
|
Trade creditors |
47,600,716 |
35.33 |
35,174,725 |
9.94 |
31,993,828 |
429,384 |
10985 |
||||||
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
||||||
|
Financial debts |
- |
- |
- |
- |
- |
203,218
50,000 |
- |
||||||
|
Current portion of long term debt |
7,811,510 |
6132 |
125,335 |
- |
- |
81,993
25,672 |
9427 |
||||||
|
Amounts Payable for Taxes, Remuneration &
Social Security |
39,246,910 |
-31.48 |
57,276,443 |
10.55 |
51,809,422 |
1 5,483 - |
48885 |
||||||
|
Miscellaneous current liabilities |
49,463,301 |
7.22 |
46,133,673 |
15.66 |
39,887,010 |
39652 |
- - |
||||||
|
Total current liabilities |
144,122,437 |
3.90 |
138,710,176 |
12.14 |
123,690,260 |
699,744 |
20496 |
||||||
|
LONG TERM DEBTS AND
LIABILITIES |
|
|
|
|
|
|
|||||||
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
||||||
|
Other long term loans |
54,957,443 |
4301 |
1,248,491 |
- |
- |
16721 |
- - |
||||||
|
Deffered taxes |
- |
- |
- |
- |
- |
58,072 5,241 |
- |
||||||
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
4,075 0 |
-100 |
||||||
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
11,828 |
-100 |
||||||
|
Total long term debts SHAREHOLDERS EQUITY |
54,957,443 |
4301 |
1,248,491 |
|
0 |
171,881 |
31874 |
||||||
|
Issued share capital |
3,702,000 |
0 |
3,702,000 |
0 |
3,702,000 |
129,813 |
2751 |
||||||
|
Share premium account |
- |
- |
- |
- |
- |
83,249 |
- |
||||||
|
Reserves |
44,411,828 |
7.92 |
41,152,275 |
-29.45 |
58,334,054 |
434,929 |
10111 |
||||||
|
Revaluation reserve |
- |
- |
- |
- |
- |
329,008 |
- |
||||||
|
Total shareholders equity |
48,113,828 |
7.27 |
44,854,275 |
-27.70 |
62,036,054 |
575,024 |
8267 |
||||||
|
Working capital |
11,825,701 |
-65.35 |
34,129,566 |
-35.93 |
53,271,375 |
210,208 |
5525 |
||||||
|
Cashflow |
26,731,634 |
15.51 |
23,143,230 |
10.95 |
20,858,753 |
1 34,315 |
19802 |
||||||
|
Net worth |
-23,456,875 |
-152 |
44,854,275 |
-27.70 |
62,036,054 |
565,248 |
-4249 |
||||||
Ratio Analysis
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry
average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
11.81 |
4.88 |
11.26 |
12.38 |
10.02 |
8,00 |
47.62 |
|
Return on capital employed |
32.61 |
-53.16 |
69.62 |
54.09 |
45.18 |
16,00 |
103 |
|
Return on total assets employed |
13.60 |
-21.70 |
17.37 |
15.11 |
15.09 |
1,00 |
1260 |
|
Return on net assets employed |
69.87 |
-2.35 |
71.55 |
58.37 |
45.18 |
12,00 |
482 |
|
Sales / net working capital |
24.08 |
188 |
8.35 |
59.05 |
5.25 |
27,00 |
-99 |
|
Stock turnover ratio |
4.75 |
13.10 |
4.20 |
-0.24 |
4.21 |
17,00 |
-72.06 |
|
Debtor days |
53.38 |
21.13 |
44.07 |
21.44 |
36.29 |
133,00 |
-59.86 |
|
Creditor days SHORT TERM STABILITY |
68.58 |
36.56 |
50.22 |
8.68 |
46.21 |
51,00 |
34.47 |
|
Current ratio |
1.08 |
-13.60 |
1.25 |
-12.59 |
1.43 |
7,00 |
-64.00 |
|
Liquidity ratio / acid ratio |
0.99 |
-14.66 |
1.16 |
-13.43 |
1.34 |
7,00 |
-85.86 |
|
Current debt ratio |
3 |
-2.91 |
3.09 |
55.28 |
1.99 |
3,00 |
0 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
130.46 |
4163 |
3.06 |
- |
- |
164,00 |
-20.45 |
|
Equity in percentage |
27.40 |
12.90 |
24.27 |
-27.34 |
33.40 |
-229,00 |
11.97 |
|
Total debt ratio |
4.14 |
32.69 |
3.12 |
56.78 |
1.99 |
3,00 |
38.00 |
Payment
Information Summary
· Total number of Invoices available 2
·
Total
number of Invoices paid within or up to 30 days after the due date 0
·
Total
number of Invoices paid more than 30 days after the due date 2
·
Total
number of Invoices currently outstanding where the due date has not yet been
reached 0
·
Total
number of Invoices currently outstanding beyond the due date 0
Payment
expectations
|
Payment expectation days |
68.58 |
|
Day sales outstanding |
53.38 |
Industry
comparison
|
Activity code |
46392 |
|
Activity description |
Non-specialised wholesale of
non-deepfrozen foods, beverages, alcohol and tobacco |
|
Industry average payment |
56.16 |
|
expectation days |
|
|
Industry average day sales |
95.14 |
|
outstanding |
|
Industry
quartile analysis
Payment expectations
Company result 68.58
Lower 75.64
Median 41.19
Upper 20.32
Day
sales outstanding
Company
result 53.38
Lower
66.95
Median
35.82
Upper
14.24
Shareholder
Details
Summary
Group - Number of Companies 2
Linkages - Number of Companies 0
Number of Countries 0
Group
Structure
Company name Number
latest Financials
MARS, INCORPORATED
MARS BELGIUM NV 417521454
31-12-2012
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
Linked
Companies
Summary
Group - Number of Companies 2
Linkages - Number of Companies 0
Number of Countries 0
Court
data
NSSO details
Business number 417521454
Bankruptcy
details
There is no bankruptcy data against this company
Bankruptcy
Data
Court Data
there is no data for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.