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Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
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Name : |
EUROBEL BVBA |
|
|
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Registered Office : |
Schupstraat 9 2018 Antwerpen |
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|
|
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Country : |
Belgium |
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|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.03.2000 |
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Com. Reg. No.: |
471606377 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale of diamonds and other precious stones |
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|
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No. of Employees |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
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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 471606377
Company name EUROBEL BVBA
Address SCHUPSTRAAT 9
2018 ANTWERPEN
Number of staff 0
Date of establishment 21/03/2000
Telephone number 032900142
Fax number 032900142
The business was established over 14 years ago. The business
has 1 employees.
The business has been at the address for over 20 months. The Net
Worth increased by 96% during the latest trading period. A 26% growth in Total
Assets occurred during the latest trading period.
The business saw an increase in their Cash Balance of 96%
during the latest trading period.
|
Date of latest accounts |
Turnover Profit
Before Tax |
Net worth |
Working capital |
|
31/12/2012 |
-9,198 |
521,194 |
989,780 |
|
31/12/2011 |
-6,771 |
265,007 |
218,784 |
|
31/12/2010 |
12,433 |
270,672 |
210,141 |
|
Date of latest accounts |
Balance Total |
Number of Employees |
Capital |
Cashflow |
|
31/12/2012 |
3,017,365 |
0 |
283,600 |
5,544 |
|
31/12/2011 |
2,392,642 |
0 |
18,600 |
8,643 |
|
31/12/2010 |
3,002,712 |
0 |
18,600 |
19,777 |
Past payments Payment
expectation days -
Industry average
payment Industry
average day sales
expectation days 164.77 outstanding 125.70
Day sales outstanding -
Business number 471606377
Company name EUROBEL BVBA
Fax number 032900142
Date founded 21/03/2000
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
Date of latest accounts 31/12/2012
Code -
Description FROM 1 TO 4
EMPLOYEES
Annual accounts 31-12-2012 % 31-12-2011 % 31-12-2010 average
Industry 2012 %
Weeks 52 52 52
Currency EUR EUR EUR
Turnover - - - - - 46,485,458 -
Total operating expenses - - - - - 46,114,879 -
Operating result -1,302 32.00 -4,068 29.69 -13,702 140,820 -100
Total financial income 1,680 1145 135 -99 30,555 98,771 -98.30
Total financial expenses 9,575 237 2,837 -35.80 4,420 206,101 -95.35
Results on ordinary operations before
taxation -9,198
-35.85 -6,771 -154 12,433 25,231 136
Taxation 135 84.17 73 -97.87 3,445 20,807 -99
Results on ordinary operations
taxation -9,333 36.37 -6,844 176 8,989 10,456 189
Extraordinary items 0 -100 660 - 0 -3,965 0
Other appropriations 1 - 0.00 - 0.00 - -
Net result -9,332 -50.90 -6,184 -168 8,989 6,510 -243
other information
Gross Operating Margin 27,581 -1.14 27,898 1753 -1,591 56,746 -51.40
Dividends - - - - - 172,177 -
Director remuneration - - - - - 112,544 -
Employee costs - - - - - 125,946 -
Wages and salary - - - - - 105,550 -
Employee pension costs - - - - - 14,428 -
Social security contributions - - - - - 26,656 -
Other employee costs 0 - 0 - 0 4,340 -100
Amortization and depreciation 14,876 0.33 14,827 37.44 10,788 17,811 -16.48
Annual accounts 31-12-2012 % 31-12-2011 % 31-12-2010 average
Industry 2012 %
Weeks 52 52 52
Currency EUR EUR EUR
Intangible fixed assets 777 - 1,296 - 1,815 1,570 -50.51
Tangible fixed assets 41,635 -8.42 45,465 -23.94 59,774 184,117 -77.39
Land & building - - - - - 362,988 -
Plant & machinery 5,669 -32.93 8,453 -27.67 11,687 22,615 -74.93
Furniture & Vehicles 35,966 -2.83 37,012 -23.03 48,087 17,295 5,364 107
Leasing & Other Similar Rights - - - - - 142,153 32,369 -
Other tangible assets 0 - 0 - 0 7,581 -100
Financial fixed assets 757 -0.02 757 0 757 306,282 -99
Total fixed assets 43,170 -9.15 47,519 -23.78 62,346 394,259 -89.05
Inventories 2,075,769 39.25 1,490,703 11.41 1,338,004 3,098,414 -33.01
Raw materials & consumables - - - - - 7,209,884 -
Work in progress 0 - 0 - 0 2,382 -100
Finished goods 0 - 0 - 0 1,992,650 -100
Other stocks 2,075,769 39.25 1,490,703 11.41 1,338,004 569,029 264
Trade debtors 201,130 -30.36 288,831 -58.33 693,222 4,234,849 -95.25
Cash 274,454 96.14 139,930 -71.51 491,232 227,014 20.90
other amounts receivable 414,045 -0.69 416,921 0.93 413,075 208,818 98.28
Miscellaneous current assets 8,797 0.67 8,738 80.77 4,834 18,217 -51.71
Total current assets 2,974,195 26.82 2,345,123 -20.24 2,940,367 7,314,172 -59.34
Total Assets 3,017,365 26.11 2,392,642 -20.32 3,002,712 7,668,273
1,451,744 -60.65
Trade creditors 1,438,402 78.32 806,645 6.40 758,126 3,141,505 -54.21
Short term group loans - - - - - - -
Financial
Debt - -
4,689 - -
4,280,807 -
Current portion of long term debt - - - - - 110,204 15,373 -
Amounts Payable for Taxes,
Remuneration & Social Security 14,231 7.50 15,384 -44.57 27,754 9,727 - -58.13
Miscellaneous current liabilities 531,782 -59.08 1,299,621 -33.16 1,944,345 78.77 --
Total current liabilities 1,984,415 -6.67 2,126,339 -22.12 2,730,225 5,452,181 -63.60
Long term debts and liabilities
Long term group loans - - - - - - --
Other long term loans 510,979 - - - - -54.13 --
Deffered taxes - - - - - 37,626 26,358 -
Provisions for Liabilities & Charges 0 - 0 - 0 3,162 0 -100
Other long term liabilities 0 - 0 - 0 127,769 -100
Total long term debts 510,979 - 0 - 0 561,675 -9.03
shareholders equity
Issued share capital 283,600 1424 18,600 0 18,600 966,465 -70.66
Share premium account - - - - - 109,362 -
Reserves 238,371 -3.77 247,703 -2.44 253,887 652,459 -63.47
Revaluation reserve - - - - - 939,206 -
Total shareholders equity 521,971 96.01 266,303 -2.27 272,487 1,648,380 -68.33
Working capital 989,780 352 218,784 4.11 210,141 1,861,991 -46.84
Cashflow 5,544 -35.85 8,643 -56.30 19,777 21,230 -73.89
Net worth 521,194 96.67 265,007 -2.09 270,672 1,645,157 -68.32
Annual accounts 31-12-2012 % 31-12-2011 % 31-12-2010 average
Industry 2012 %
Profit Before Tax - - - - - -29,00 -
Return on capital employed -0.89 35.04 -2.54 -155 4.56 29,00 -103
Return on total assets
employed -0.30 7.14 -0.28 -168 0.41 -200,00 0.15
Return on net assets employed -1.76 69.29 -2.54 -155 4.56 19,00 -109
Sales / net working capital - - - - - 44,00 -
Stock turnover ratio - - - - - 116,00 -
Debtor days - - - - - 143,00 -
Creditor days - - - - - 125,00 -
short term stability
Current ratio 1.50 36.36 1.10 1.85 1.08 6,00 -83.33
Liquidity ratio / acid ratio 0.45 12.50 0.40 -32.20 0.59 4,00 -88.75
Current debt ratio 3.80 -52.38 7.98 -20.36 10.02 9,00 -57.78
Liquidity ratio reprocessed - - - - - - -
long term stability
Gearing 97.89 5461 1.76 - - 357,00 -72.58
Equity in percentage 17.30 55.30 11.14 22.69 9.08 -3.185,00 0.54
Total debt ratio 4.78 -40.10 7.98 -20.36 10.02 11,00 -56.55
Activity code 46761
Activity description Wholesale of diamonds and other precious stones
Activity code 46761
Activity description Wholesale of diamonds and other precious stones
Company result -
Lower 133.74
Median 84.93
Upper 45.33
Company result -
Lower 110.17
Median 59.01
Upper 28.11
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Business number 471606377
Bankruptcy details
There is no bankruptcy data against this company
BANKRUPTCY DATA
Court Data
there is no data for this company
DIAMOND INDUSTRY – INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
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The banking sector has started exercising restraint while
following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.00 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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-- |
NB |
New Business |
-- |
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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.