MIRA INFORM REPORT

 

 

Report Date :

13.06.2014

 

IDENTIFICATION DETAILS

 

Name :

Z.I. FOODS BVBA

 

 

Registered Office :

De Keyserlei 5, 2018 Antwerp

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

20.08.2009

 

 

Com. Reg. No.:

817984766

 

 

Legal Form :

Private Limited Company 

 

 

Line of Business :

Wholesaler of other foods

 

(We tried to confirm / obtain the detailed activity but the same is not available from any sources)

 

 

No of Employees :

Not Available 

 

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

817984766

Company name

Z.I. FOODS BVBA

Address

DE KEYSERLEI 5

 

2018 ANTWERP

Number of staff

0

Date of establishment

20/08/2009

 

 

Commentary

 

The business was established over 4 years ago.

 

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_nochange.gif

No employees are recorded for this business.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_down.gif

The business has been at the address for over 3 years.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_nochange.gif

A 191% growth in Total Assets occurred during the latest trading period.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

The business saw a decrease in their Cash Balance of 31% during the latest trading period.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_down.gif

Net Worth is a negative amount during the latest trading period.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_down.gif

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

PROFIT BEFORE TAX

NET WORTH

WORKING CAPITAL

31/12/2012

249,562

-239,545

454,872

31/12/2011

-131,574

-489,107

-179,341

31/12/2010

-369,931

-357,531

-362,430

 

Accounts

DATE OF LATEST ACCOUNTS                

BALANCE TOTAL

CAPITAL

CASHFLOW

31/12/2012

1,044,906

12,400

251,974

31/12/2011

358,400

12,400

-129,226

31/12/2010

351,145

12,400

-367,778

 

 

TRENDS

 

Profitability

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

Liquidity

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

Net worth

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

 

Payment expectations

 

Industry average payment expectation days                             65.68

Industry average day sales outstanding                                   68.03

 

 

Company information                                                                                                                             

                                   

Business number

817984766

Company name

Z.I. FOODS BVBA

 

 

Date founded

20/08/2009

Company status

active

Company type

Private Limited Company (BL/LX)

Currency

Euro (€)

Date of latest accounts

31/12/2012

Activity code

46389

Liable for VAT

no

Activity description

Wholesaler of other foods, n.e.c.

 

Belgian Bullettin of Acts

moniteur belge

 

Publications

 

 

 

 

 

Joint Industrial Committee

(JIC)    

 

Significant Events

Event Date

17/02/2011

Event Description

new co-ordinated text of the statutes filed

Event Details

Commentaar 17-02-2011: Adoption d'un nouveau texte des statuts en neerlandais, qui remplace le texte frangais et dont un etrait sera publie separement.

 

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

71

Currency

EUR

EUR

EUR

Turnover

-

-

-

-

-

39,268,745

-

Total operating expenses

-

-

-

-

-

37,015,848

-

Operating result

134,693

98.44

-136,826

37.11

-368,661

571,439

-76.43

Total financial income

116,065

1667

6,566

31512

21

138,833

-16.40

Total financial expenses

1,196

-9.01

1,314

1.83

1,290

199,001

-99

Results on ordinary operations before taxation

249,562

189

-131,574

35.57

-369,931

496,557

-49.74

Taxation

-

-

2

-

-

193,951

-

Results on ordinary operations after taxation

249,562

189

-131,576

35.57

-369,931

363,051

-31.26

Extraordinary items

0

-

0

-

0

157,057

-100

Other appropriations

0.00

-

0

-

0.00

-

-

Net result

249,562

189

-131,576

35.57

-369,931

520,464

-52.05

Other Information

 

 

 

 

 

 

 

Gross Operating Margin

137,154

102

-134,254

36.70

-365,813

167,355

-18.05

Dividends

-

-

-

-

-

6,616,091

-

Director remuneration

-

-

-

-

-

412,281

-

Employee costs

-

-

-

-

-

1,713,467

-

Wages and salary

-

-

-

-

-

1,322,706

-

Employee pension costs

-

-

-

-

-

185,972

-

Social security contributions

-

-

-

-

-

412,483

-

Other employee costs

0

-

0

-

0

46,999

-100

Amortization and depreciation

2,411

2.62

2,350

9.16

2,153

170,830

-98.59

 

Balance Sheets

Annual accounts

31-12-2012

%

31-12-2011

%

31-12-2010

Industry average 2012

%

Weeks

52

 

52

 

71

 

 

Currency

EUR

EUR

EUR

Intangible fixed assets

0

-

0

-

0

84,772

-100

Tangible fixed assets

736

-76.61

3,148

-35.74

4,899

766,850

-99

Land & building

-

-

-

-

-

669,529

-

Plant & machinery

-

-

-

-

-

325,528

-

Furniture & Vehicles

736

-76.61

3,148

-35.74

4,899

104,329 11,340

-99

Leasing & Other Similar Rights

-

-

-

-

-

136,579 19,475

-

Other tangible assets

0

-

0

-

0

44,324

-100

Financial fixed assets

3,164

17.79

2,686

-

-

9,473,965

-99

Total fixed assets

3,900

-33.15

5,834

19.08

4,899

6,192,157

-99

Inventories

413,027

-

-

-

269,612

1,202,695

-65.66

Raw materials & consumables

-

-

-

-

-

1,790,792

-

Work in progress

0

-

0

-

0

27,360

-100

Finished goods

0

-

0

-

0

635,539

-100

Other stocks

413,027

-

0

-100

269,612

89,648

360

Trade debtors

470,602

174

171,532

304

42,372

1,014,479

-53.61

Cash

119,625

-31.21

173,908

809

19,127

444,485

-73.09

other amounts receivable

34,750

387

7,126

-52.75

15,081

1,220,718

-97.15

Miscellaneous current assets

3,000

-

0

-100

55

505,155

-99

Total current assets

1,041,006

195

352,566

1.83

346,246

3,962,016

-73.73

Total Assets

1,044,906

191

358,400

2.07

351,145

9,571,176 266,937

-89.08

Current Liabilities

Trade creditors

585,134

293

148,843

-62.13

393,049

1,480,193

-60.47

Financial debts

-

-

-

-

-

2,865,208 22,887

-

Current portion of long term debt

-

-

-

-

-

204,188 22,074

-

Amounts Payable for Taxes, Remuneration & Social Security

-

-

-

-

-

11,583 -

-

Miscellaneous current liabilities

1,000

-99

383,064

21.37

315,627

-99

--

Total current liabilities

586,134

10.19

531,907

-24.94

708,676

3,441,446

-82.97

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

--

Other long term loans

-

-

315,600

-

-

-

--

D effered taxes

-

-

-

-

-

73,349 9,363

-

Provisions for Liabilities & Charges

0

-

0

-

0

55,977 0

-100

Other long term liabilities

698,317

-

0

-

0

42,233

1553

Total long term debts

698,317

121

315,600

-

0

3,274,635

-78.67

SHAREHOLDERS EQUITY

 

 

 

 

 

 

 

Issued share capital

12,400

0

12,400

0

12,400

615,502

-97.99

Share premium account

-

-

-

-

-

18,185,281

-

Reserves

-251,945

50.24

-501,507

-35.57

-369,931

1,736,293

-114

Revaluation reserve

-

-

-

-

-

632,611

-

Total shareholders equity

-239,545

48.98

-489,107

-36.80

-357,531

2,797,771

-108

Working capital

454,872

253

-179,341

49.48

-362,430

520,570

-12.62

Cashflow

251,974

194

-129,226

35.14

-367,778

670,142

-62.40

Net worth

-239,545

48.98

-489,107

-36.80

-357,531

2,710,064

-108

 

Ratio Analysis

Annual accounts

31-12-2012

change(%)

31-12-2011

change(%)

31-12-2010

Industry average 2012

%

Trading Performance

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

0,00

-

Return on capital employed

54.40

-28.26

75.83

-26.71

103.47

23,00

136

Return on total assets employed

23.88

65.05

-36.71

34.85

-105.35

-14,00

170

Return on net assets employed

-104.18

-487

26.90

-74.00

103.47

-9,00

-1057

Sales / net working capital

-

-

-

-

-

5,00

-

Stock turnover ratio

-

-

-

-

-

15,00

-

Debtor days

-

-

-

-

-

81,00

-

Creditor days

-

-

-

-

-

69,00

-

Short Term Stability

 

 

 

 

 

 

 

Current ratio

1.78

169

0.66

34.69

0.49

10,00

-64.40

Liquidity ratio / acid ratio

1.07

62.12

0.66

500

0. 11

10,00

-89.30

Current debt ratio

-2.45

-124

-1.09

55.05

-1.98

5,00

-149

Liquidity ratio reprocessed

-

-

-

-

-

-

-

LOng Term Stability

 

 

 

 

 

 

 

Gearing

-

-

-64.53

-

-

384,00

-

Equity in percentage

-22.93

16.80

-136.47

-34.03

-101.82

-2.889,00

0.79

Total debt ratio

-5.36

-209

-1.73

87.37

-1.98

7,00

-176

 

 

Industry comparison

 

Activity code

46389

Activity description

Wholesale of other foods, n.e.c.

 

 

Industry comparison   

           

Activity code

46389

Activity description

Wholesale of other foods, n.e.c.

Industry average payment expectation days

65.68

Industry average day sales outstanding

68.03

 

 

Industry quartile analysis

 

Payment expectations

Company result -

Lower

69.97

Median

39.53

Upper

14.02

 

Day sales outstanding

Company result -

Lower

68.02

Median

35.62

Upper

15.94

 

 

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                                 817984766

 

 

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 :

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%)

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.