|
Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXELCO SOURCING BVBA |
|
|
|
|
Registered Office : |
Pelikaanstraat 62, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.10.2007 |
|
|
|
|
Com. Reg. No.: |
893075337 |
|
|
|
|
Legal Form : |
Private
Limited Company (BL/LX) |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALE OF DIAMONDS AND OTHER
PRECIOUS STONES |
|
|
|
|
No. of Employees |
2 |
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 893075337
Company name EXELCO SOURCING
BVBA
Address PELIKAANSTRAAT 62
2018 ANTWERPEN
Number of staff 2
Date of establishment 25/10/2007
Telephone number 032322804
The business was established over 6 years ago.
The business has 1 employees.
The business has been at the address for over 15 months.
Operating Result in the latest trading period decreased 21% on the
previous trading period.
Net Worth increased by 643% during the latest trading period.
A 31% decline in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 52% compared to the previous trading
period.
The business saw a decrease in their Cash Balance of 62% during the
latest trading period.
Turnover in the latest trading period decreased 31% on the previous
trading period.
DATE OF LATEST ACCOUNTS TURNOVER
PROFIT BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2012 23,548,321
26,946 1,104,653 1,663,905
31/12/2011 34,323,946
57,018 148,565 1,680,408
31/12/2010 22,584,361
58,086 110,269 1,217,867
Accounts
DATE OF LATEST ACCOUNTS BALANCE
TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2012 8,729,305
2 967,683 14,315
31/12/2011 12,758,369
2 20,710 38,720
31/12/2010 10,000,204
2 20,053 45,993
Past payments
Payment expectation days 67.77
Industry average payment expectation days 165.18
Industry average day sales outstanding 127.11
Day sales outstanding 86.84
BANKRUPTCY DETAILS
Court action Type
no
PROTESTED BILLS
Bill amount -
NSSO DETAILS
Date of summons –
|
Business
number |
893075337 |
Company
name |
EXELCO
SOURCING BVBA |
|
|
Fax
number |
|
Date
founded |
25/10/2007 |
|
|
Company
status |
active |
Company
type |
Private Limited Company (BL/LX) |
|
|
Currency |
Euro
(€) |
Date
of latest accounts |
31/12/2012 |
|
|
Activity
code |
46761 |
Liable
for VAT |
yes |
|
|
Activity
description |
Wholesale of diamonds and other precious
stones |
VAT
Number |
BE.0893.075.337
Check VAT number |
|
|
Belgian Bullettin of Acts Publications - |
moniteur
belge |
|
|
|
|
Contractor
details |
||||
|
Registered
contractor number |
- |
|
|
|
|
Contractor
description |
- |
|
|
|
|
Date
struck off register |
||||
|
Social
Balance Sheet |
Total |
|
During
the reporting year |
|
|
ended
31-12-2012 |
|
|
Full-time
Employees |
2 |
|
Part-time
Employees |
- |
|
Total
Fte Employees |
2 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
3,572 |
|
Part-time
Employees |
- |
|
Total |
3,572 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
67,086 |
|
Part-time
Employees |
- |
|
Total |
67,086 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
2 |
|
Actual
working hours |
4,271 |
|
Personnel
Charges |
74,105 |
|
Benefits
In Addition To Wages |
- |
|
1 |
|
|
|
|
|
|
-------------- K |
|
Type
of Contract |
Full-Time |
Part-Time |
Total Fte |
|
|
Unlimited Duration
Contracts |
2 |
- |
2 |
|
|
Limited
Duration Contracts |
- |
- |
- |
|
|
Contracts For
Specific Work |
- |
- |
- |
|
|
Contracts Regarding
Substitution |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Gender and Education
Level |
|
|
|
\. |
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education |
- |
- |
- |
|
|
Secondairy
education |
1 |
- |
1 |
|
|
Higher
education (non university) |
- |
- |
- |
|
|
Higher
education (university) |
- |
- |
- |
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education |
1 |
- |
1 |
|
|
Secondairy
education |
- |
- |
- |
|
|
Higher
education (non university) |
- |
- |
- |
|
|
Higher
education (university) |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
\. |
|
Management |
- |
- |
- |
|
|
White
collar worker |
2 |
- |
2 |
|
|
Blue
collar worker |
- |
- |
- |
|
|
Other |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Temporary
personnel |
|
Total |
|
\. |
|
Average
number of temporary staff |
- |
|
|
|
|
Actual
working hours |
|
- |
|
|
|
Cost
of temporary staff |
|
- |
|
|
|
|
|
|
|
J |
|
|
||||
|
New
staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
|
New
Starters |
- |
- |
- |
|
|
Leavers |
- |
- |
- |
|
Personnel (NSSO classification)
Code
-
Description FROM 1 TO 4
EMPLOYEES
Joint Industrial Committee (JIC)
JIC Code 218
Description Additional
national joint committee for the employees
JIC Code 324
Description Joint committee for
the industry and the trade in diamant
Category
Significant Events
Event Date 23/07/2013
Event Description
Event Details Toekenning van 515
nieuwe aandelen aan NV Exelco.
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
23,548,321 |
-31.39 |
34,323,946 |
51.98 |
22,584,361 |
46,485,458 |
-49.34 |
|
Total
operating expenses |
23,353,412 |
-31.47 |
34,075,479 |
52.38 |
22,362,364 |
46,114,879 |
-49.36 |
|
Operating
result |
194,909 |
-21.56 |
248,467 |
11.92 |
221,997 |
140,644 |
38.58 |
|
Total
financial income |
15,249 |
-36.90 |
24,165 |
5.32 |
22,944 |
97,700 |
-84.39 |
|
Total
financial expenses |
183,212 |
-15.03 |
215,614 |
1
5.39 |
186,855 |
205,052 |
-10.65 |
|
Results on ordinary operations before
taxation |
26,946 |
-52.74 |
57,018 |
-1.84 |
58,086 |
25,212 |
6.88 |
|
Taxation |
13,492 |
-39.58 |
22,332 |
59.82 |
13,973 |
20,811 |
-35.17 |
|
Results
on ordinary operations after taxation |
13,454 |
-61.21 |
34,686 |
-21.37 |
44,113 |
10,416 |
29.17 |
|
Extraordinary
items |
-1,858 |
- |
0 |
0 |
-293 |
-3,982 |
46.66 |
|
Other
appropriations |
0 |
0 |
-1 |
- |
0 |
- |
- |
|
Net
result OTHER INFORMATION |
11,596 |
-66.57 |
34,685 |
-20.85 |
43,820 |
6,453 |
79.70 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
55,998 |
- |
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director
remuneration |
29,514 |
- |
- |
- |
29,146 |
112,544 |
-73.78 |
|
Employee
costs |
67,086 |
-11.23 |
75,572 |
320 |
17,963 |
126,172 |
-46.83 |
|
Wages and salary |
53,274 |
-14.93 |
62,627 |
318 |
14,967 |
105,771 |
-49.63 |
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social security contributions |
11,240 |
14.92 |
9,781 |
506 |
1,614 |
26,708 |
-57.92 |
|
Other employee costs |
2,571 |
-18.72 |
3,163 |
128 |
1,382 |
4,356 |
-40.98 |
|
Amortization
and depreciation |
2,719 |
-32.61 |
4,035 |
85.69 |
2,173 |
17,866 |
-84.78 |
|
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 |
- |
0 |
1,576 |
-100 |
|
Tangible
fixed assets |
8,153 |
-36.88 |
12,917 |
-11.55 |
14,603 |
184,536 |
-95.58 |
|
Land & building |
- |
- |
- |
- |
- |
362,988 |
- |
|
Plant & machinery |
7,490 |
28.45 |
5,831 |
-14.51 |
6,821 |
22,615 |
-66.88 |
|
Furniture & Vehicles |
663 |
-90.64 |
7,087 |
-8.93 |
7,782 |
17,300
5,364 |
-96.17 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
Other tangible assets |
0 |
0 |
-1 |
- |
0 |
7,611 |
-100 |
|
Financial
fixed assets |
1,019 |
-2.02 |
1,040 |
160 |
400 |
306,761 |
-99 |
|
Total
fixed assets |
9,173 |
-34.28 |
13,957 |
-6.97 |
15,002 |
395,576 |
-97.68 |
|
Inventories |
3,000,462 |
47.59 |
2,032,950 |
-22.80 |
2,633,373 |
3,111,766 |
-3.58 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,392 |
-100 |
|
Finished goods |
3,000,462 |
47.59 |
2,032,950 |
-22.80 |
2,633,373 |
2,000,677 |
49.97 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
570,162 |
-100 |
|
Trade
debtors |
5,602,814 |
-46.44 |
10,460,817 |
43.78 |
7,275,734 |
4,249,443 |
31.85 |
|
Cash |
89,362 |
-62.34 |
237,283 |
249 |
67,981 |
225,558 |
-60.38 |
|
other
amounts receivable |
26,237 |
175 |
9,512 |
97.18 |
4,824 |
209,360 |
-87.47 |
|
Miscellaneous
current assets |
1,257 |
-67.35 |
3,850 |
17.02 |
3,290 |
18,289 |
-93.13 |
|
Total
current assets |
8,720,132 |
-31.58 |
12,744,412 |
27.63 |
9,985,202 |
7,337,366 |
18.85 |
|
Total
Assets |
8,729,305 |
-31.58 |
12,758,369 |
27.58 |
10,000,204 |
7,692,885
1,451,744 |
13.47 |
|
Trade
creditors |
4,336,155 |
-47.68 |
8,288,276 |
23.35 |
6,719,185 |
3,151,222 |
37.60 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
2,690,362 |
-1.58 |
2,733,587 |
35.10 |
2,023,400 |
4,297,815 189,666 |
-37.40 |
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
110,204
15,373 |
- |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
16,429 |
-20.37 |
20,631 |
19.10 |
17,322 |
9,727
- |
-51.63 |
|
Miscellaneous
current liabilities |
13,281 |
-38.26 |
21,510 |
189 |
7,428 |
-95.52 |
-
- |
|
Total
current liabilities |
7,056,227 |
-36.22 |
11,064,004 |
26.20 |
8,767,335 |
5,468,297 |
29.04 |
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
-
- |
|
Other
long term loans |
- |
- |
- |
- |
- |
- |
-
- |
|
Deffered
taxes |
- |
- |
- |
- |
- |
37,626
26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,174
0 |
-100 |
|
Other
long term liabilities |
568,425 |
-63.23 |
1,545,800 |
37.70 |
1,122,600 |
128,284 |
343 |
|
Total long term
debts SHAREHOLDERS EQUITY |
568,425 |
-63.23 |
1,545,800 |
37.70 |
1,122,600 |
563,937 |
0.80 |
|
Issued
share capital |
967,683 |
4572 |
20,710 |
3.28 |
20,053 |
967,079 |
0.06 |
|
Share
premium account |
- |
- |
- |
- |
- |
109,362 |
- |
|
Reserves |
136,970 |
7.13 |
127,855 |
41.72 |
90,216 |
657,910 |
-79.18 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total
shareholders equity |
1,104,653 |
643 |
148,565 |
34.73 |
110,269 |
1,654,570 |
-33.24 |
|
Working
capital |
1,663,905 |
-0.98 |
1,680,408 |
37.98 |
1,217,867 |
1,869,068 |
-10.98 |
|
Cashflow |
14,315 |
-63.03 |
38,720 |
-15.81 |
45,993 |
21,225 |
-32.56 |
|
Net
worth |
1,104,653 |
643 |
148,565 |
34.73 |
110,269 |
1,651,328 |
-33.11 |
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.11 |
-35.29 |
0.17 |
-34.62 |
0.26 |
-29,00 |
0.38 |
|
Return
on capital employed |
1.61 |
-52.23 |
3.37 |
-28.45 |
4.71 |
29,00 |
-94.45 |
|
Return
on total assets employed |
0.31 |
-31.11 |
0.45 |
-22.41 |
0.58 |
-201,00 |
0.15 |
|
Return
on net assets employed |
2.44 |
-93.64 |
38.38 |
-27.15 |
52.68 |
19,00 |
-87.16 |
|
Sales
/ net working capital |
14.15 |
-30.74 |
20.43 |
10.19 |
18.54 |
44,00 |
-99 |
|
Stock
turnover ratio |
12.74 |
115 |
5.92 |
-49.23 |
11.66 |
116,00 |
-89.02 |
|
Debtor
days |
86.84 |
-21.93 |
111.24 |
-5.40 |
117.59 |
143,00 |
-39.27 |
|
Creditor
days SHORT TERM
STABILITY |
67.77 |
-23.67 |
88.78 |
-19.05 |
109.67 |
125,00 |
-45.78 |
|
Current
ratio |
1.24 |
7.83 |
1.15 |
0.88 |
1.14 |
6,00 |
-86.22 |
|
Liquidity
ratio / acid ratio |
0.81 |
-16.49 |
0.97 |
15.48 |
0.84 |
4,00 |
-79.75 |
|
Current
debt ratio |
6.39 |
-91.42 |
74.47 |
-6.34 |
79.51 |
9,00 |
-29.00 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
243.55 |
-86.76 |
1839.99 |
0.27 |
1
834.97 |
358,00 |
-31.97 |
|
Equity
in percentage |
12.65 |
990 |
1.16 |
5.45 |
1.10 |
-3.198,00 |
0.40 |
|
Total
debt ratio |
6.90 |
-91.87 |
84.88 |
-5.36 |
89.69 |
10,00 |
-31.00 |
|
Suspension
of payments / moratorium history |
|
|
Amount |
- |
|
Details |
- |
|
Payment
expectations |
|
|
Payment
expectation days |
67.77 |
|
Day
sales outstanding |
86.84 |
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
|
Industry
average payment expectation days |
165.18 |
|
Industry
average day sales outstanding |
127.11 |
|
Payment
expectations |
|
|
Company result |
67.77 |
|
Lower |
134.34 |
|
Median |
84.97 |
|
Upper |
46 |
Company
result 86.84
Lower 111.41
Median 59.01
Upper 28.09
Summary
Group - Number of
Companies Linkages - Number of Companies Number of Countries
Group Structure
No
group structure for this company.
Business 454661071
Number Exelco NV
Company name
Safe number BE00326673
% -
Rating 82
Limit €1.650.000
Date of accounts 31/12/2012
No minority interest found
Summary
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
Protested bills
Drawee name -
Address -
Bill amount -
Bill currency -
Maturity of bill -
Name of drawer -
City of drawer -
NSSO details
Business number 893075337
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.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
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.