MIRA INFORM REPORT

 

 

Report Date :

13.06.2014

 

IDENTIFICATION DETAILS

 

Name :

JUST''EVE SPRL

 

 

Registered Office :

Avenue Champel 19, 1640 Sint-Genesius-Rode

 

 

Country :

Belgium

 

 

Financials (as on) :

31.10.2013

 

 

Date of Incorporation :

31.05.2010

 

 

Com. Reg. No.:

826354282

 

 

Legal Form :

Private Limited Company (BL/LX)

 

 

Line of Business :

Wholesale of textile articles

 

 

No. of Employees :

Not Available

 

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

 

 

 

 

Company summary

 

Business number                          826354282

Company name                           JUST''EVE SPRL

Address                                     AVENUE CHAMPEL 19

1640 SINT-GENESIUS-RODE

Number of staff                            0

Date of establishment                    31/05/2010

Telephone number                       023812564

 

 

Commentary

 

The business was established over 4 years ago.

No employees are recorded for this business.

The business has been at the address for over 4 years.

Operating Result in the latest trading period increased 133% on the previous trading period.

Net Worth increased by 56% during the latest trading period.

A 42% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 168% compared to the previous trading period.

The business saw an increase in their Cash Balance of 1346% during the latest trading period.

 

Accounts

 

DATE OF LATEST ACCOUNTS           TURNOVER          PROFIT BEFORE TAX          NET WORTH        WORKING CAPITAL

31/10/2013                                                        20,177                          45,170              31,537

31/10/2012                                                        7,526                            28,850              19,347

31/10/2011                                146,814 9,718                            11,590              7,406

 

Accounts

 

DATE OF LATEST ACCOUNTS           BALANCE TOTAL   NUMBER OF EMPLOYEES    CAPITAL CASHFLOW

31/10/2013                                118,758             0                                  18,600              21,956

31/10/2012                                83,462                          0                                  18,600              9,363

31/10/2011                                43,113                          0                                  6,200                7,852

 

Payment expectations

Past payments                                                                          Payment expectation days         -

Industry average payment

expectation days                       74.77                                        Industry average day sales

Outstanding                              98.54

Day sales outstanding               –

 

Court data summary

BANKRUPTCY DETAILS

Court action type                      no

PROTESTED BILLS

Bill amount                              -

NSSO DETAILS

Date of summons                     –

 

 

Company information

 

Business number

826354282

Company name

JUST''EVE SPRL

Fax number

 

Date founded

31/05/2010

Company status

active

Company type

Private Limited Company (BL/LX)

Currency

Euro (€)

Date of latest accounts

31/10/2013

Activity code

46419

Liable for VAT

no

Activity description

Wholesale of textile articles

 

 

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

 

Profit & loss

 

Annual accounts

31-10-2013

%

31-10-2012

%

31-10-2011

Industry average 2013

%

Weeks

52

 

52

 

74

 

 

Currency

EUR

 

EUR

 

EUR

 

 

Turnover

-

-

-

-

146,814

207,152

-

Total operating expenses

-

-

-

-

135,315

204,452

-

Operating result

22,224

133

9,510

-17.30

11,500

28,182

-21.14

Total financial income

25

-88.80

223

129

97

2,421

-98.97

Total financial expenses

2,072

-6.10

2,206

17.42

1,879

12,514

-83.44

Results on ordinary operations before taxation

20,177

168

7,526

-22.55

9,718

18,202

10.85

Taxation

6,719

152

2,666

-38.40

4,328

10,892

-38.31

Results on ordinary operations after taxation

13,458

176

4,860

-9.83

5,390

9,488

41.85

Extraordinary items

2,861

-

0

-

0

6,620

-56.78

Other appropriations

0.00

-

0.00

-

0.00

-

-

Net result

16,320

235

4,860

-9.83

5,390

16,108

1.31

OTHER INFORMATION

 

 

 

 

 

 

 

Gross Operating Margin

28,492

93.37

14,734

1.48

14,520

181,097

-84.27

Dividends

-

-

-

-

-

1,209

-

Director remuneration

-

-

-

-

-

-

-

Employee costs

-

-

-

-

-

269,301

-

Wages and salary

-

-

-

-

-

180,974

-

Employee pension costs

-

-

-

-

-

5,758

-

Social security contributions

-

-

-

-

-

52,329

-

Other employee costs

0

-

0

-

0

13,938

-100

Amortization and depreciation

5,637

25.17

4,503

82.89

2,462

31,270

-81.97

 

 

balance sheet

 

 

Annual accounts

31-10-2013

%

31-10-2012

%

31-10-2011

Industry average 2013

%

 

Weeks

52

 

52

 

74

 

 

 

Currency

EUR

 

EUR

 

EUR

 

 

 

Intangible fixed assets

0

-

0

-

0

3,853

-100

 

Tangible fixed assets

17,532

12.11

15,638

273

4,183

245,277

-92.85

 

Land & building

-

-

-

-

-

252,081

-

 

Plant & machinery

2,102

-17.13

2,536

-13.89

2,946

94,844

-97.78

 

Furniture & Vehicles

15,430

17.77

13,102

958

1,238

21,173 20,499

-27.12

 

Leasing & Other Similar Rights

-

-

-

-

-

33,712 23,351

-

 

Other tangible assets

0

-

0

-

0

12,828

-100

 

Financial fixed assets

-

-

-

-

-

114,918

-

 

Total fixed assets

17,532

12.11

15,638

273

4,183

294,432

-94.05

 

Inventories

4,250

-2.75

4,370

-33.25

6,547

213,053

-98.01

 

Raw materials & consumables

-

-

-

-

-

0

-

 

Work in progress

0

-

0

-

0

0

-

 

Finished goods

0

-

0

-

0

2,793

-100

 

Other stocks

4,250

-2.75

4,370

-33.25

6,547

90,950

-95.33

 

Trade debtors

73,701

21.30

60,761

229

18,453

113,934

-35.31

 

Cash

22,862

1346

1,581

-88.00

13,172

54,360

-57.94

 

other amounts receivable

0

-

0

-100

758

19,508

-100

 

Miscellaneous current assets

413

-62.88

1,113

-

0

11,308

-96.35

 

Total current assets

101,226

49.25

67,824

74.22

38,929

290,678

-65.18

 

Total Assets

118,758

42.29

83,462

93.59

43,113

561,556 352,072

-78.85

         CURRENT LIABILITIES

 

Trade creditors

24,285

38.75

17,502

35.69

12,898

83,361

-70.87

         Short term group loans                           -                 -               -                 -              -                -                      -

 

Financial debts

-

-

-

-

-

61,105 10,000

-

 

Current portion of long term debt

4,887

102

2,410

-

-

30,604 18,987

-84.03

 

Amounts Payable for Taxes, Remuneration & Social Security

19,688

25.50

15,688

253

4,440

9,311 -

-21.16

 

Miscellaneous current liabilities

20,829

61.75

12,877

-9.22

14,184

-66.05

--

 

Total current liabilities

69,689

43.76

48,477

53.78

31,523

195,278

-64.31

 

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

--

 

Other long term loans

3,899

-36.44

6,135

-

-

-98.49

--

 

Deffered taxes

-

-

-

-

-

00

-

 

Provisions for Liabilities & Charges

0

-

0

-

0

00

-

 

Other long term liabilities

0

-

0

-

0

6,304

-100

 

Total long term debts

3,899

-36.44

6,135

-

0

181,419

-97.85

 

SHAREHOLDERS EQUITY

 

 

 

 

 

 

 

 

Issued share capital

18,600

0

18,600

200

6,200

126,245

-85.27

 

Share premium account

-

-

-

-

-

0

-

 

Reserves

26,570

159

10,250

90.17

5,390

58,446

-54.54

 

Revaluation reserve

-

-

-

-

-

2,093

-

 

Total shareholders equity

45,170

56.57

28,850

148

11,590

184,858

-75.57

 

Working capital

31,537

63.01

19,347

161

7,406

95,400

-66.94

 

Cashflow

21,956

134

9,363

19.25

7,852

44,877

-51.07

 

Net worth

45,170

56.57

28,850

148

11,590

181,006

-75.05

 

 

ratio analysis

 

 

Annual accounts

31-10-2013

Change

(%)

31-10-2012

Change

(%)

31-10-2011

Industry average 2013

%

          TRADING PERFORMANCE

 

 

Profit Before Tax

-

-

-

-

6.62

-67,00

-

 

Return on capital employed

41.12

91.17

21.51

-74.35

83.85

7,00

487

 

Return on total assets employed

16.99

88.36

9.02

-59.98

22.54

4,00

324

 

Return on net assets employed

44.67

71.22

26.09

-68.88

83.85

13,00

243

 

Sales / net working capital

-

-

-

-

19.82

-4,00

-

 

Stock turnover ratio

-

-

-

-

4.46

2.385,00

-

 

Debtor days

-

-

-

-

45.88

6,00

-

 

Creditor days

-

-

-

-

34.79

220,00

-

          SHORT TERM STABILITY

 

Current ratio

1.45

3.57

1.40

13.82

1.23

27,00

-71.00

 

Liquidity ratio / acid ratio

1.39

6. 11

1.31

27.18

1.03

27,00

-94.85

 

Current debt ratio

1.54

-8.33

1.68

-38.24

2.72

5,00

-69.20

 

Liquidity ratio reprocessed

-

-

-

-

-

-

-

 

LONG TERM STABILITY

 

 

 

 

 

 

 

 

Gearing

19.45

-34.33

29.62

-

-

660,00

-97.05

 

Equity in percentage

38.03

10.01

34.57

28.61

26.88

34,00

11.85

 

Total debt ratio

1.63

-13.76

1.89

-30.51

2.72

9,00

-81.89

 

 

Industry comparison

Activity code

46419

Activity description

Wholesale of other textile articles

Industry average payment expectation days

74.77

Industry average day sales outstanding

98.54

Industry quartile analysis

Payment expectations

Company result                  -

Lower

79.88

Median

39.28

Upper

11

 

Day sales outstanding

Company result               -

Lower

87.82

Median

40.34

Upper

15.85

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

 

Court data

 

NSSO details

Business number                     826354282

Name of defendant                   -

Legal form of defendant           -

Date of summons                     –

Labour court                            -

 

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.59.33

UK Pound

1

Rs.99.68

Euro

1

Rs.80.30

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

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.