MIRA INFORM REPORT
|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
GSB BVBA |
|
|
|
|
Registered Office : |
Meertselstraat, 78, 3200 Aarschot |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
30.06.2013 |
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|
|
|
Date of Incorporation : |
23.09.2009 |
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|
|
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Com. Reg. No.: |
818992675 |
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|
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Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Wholesaler of floor and wall tiles |
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|
|
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No of Employees : |
02 (30.06.2013) |
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 |
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|
|
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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 |
|
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 818992675
Company name GSB BVBA
Address MEERTSELSTRAAT
78
3200 AARSCHOT
Number of staff 2 (30.06.2013)
Date of establishment 23/09/2009
Commentary
|
The business was established over 4 years
ago. |
|
||
|
The business has 2 employees. |
|
||
|
The business has been at the address for
over 4 years. |
|
||
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A 36% growth in Total Assets occurred
during the latest trading period. |
|
||
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The business saw an increase in their Cash
Balance of 147% during the latest trading period. |
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||
Accounts
|
Date of latest
accounts |
Profit Before Tax |
Net worth |
Working capital |
|
30/06/2013 |
-5,815 |
52,382 |
53,965 |
|
30/06/2012 |
-2,651 |
56,642 |
71,957 |
|
30/06/2011 |
47,601 |
58,933 |
93,081 |
Accounts
|
Date of latest
accounts |
Balance Total |
Number of Employees |
Capital |
Cashflow |
|
30/06/2013 |
915,698 |
2 |
20,000 |
5,069 |
|
30/06/2012 |
672,610 |
2 |
20,000 |
7,264 |
|
30/06/2011 |
851,611 |
0 |
20,000 |
39,671 |
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
Industry average payment expectation days 75.04
Industry average day sales outstanding 168.18
Court
data summary
Bankruptcy Details
Court action type no
Company
information
Business number 818992675
Company
name GSB BVBA
Fax number Date
founded 23/09/2009
Company status active Company
type Private Limited
Company
(BL/LX)
Currency Euro
(€) Date
of latest accounts 30/06/2013
Activity code 46735 Liable
for VAT no
Activity description Wholesaler
of floor and wall tiles
Belgian Bullettin of Acts
Publications moniteur belge
Social
Balance Sheet Details
Social Balance Sheet Total
During the reporting year ended 30-06-2013
Full-time Employees 3
Part-time Employees 1
Total Fte Employees 3
Number of hours worked
Full-time Employees 3,769
Part-time Employees 680
Total 4,449
Personnel Charges
Full-time Employees 144,408
Part-time Employees 26,054
Total 170,462
Benefits In Addition To Wages -
During the previous reporting year
Average number employees in Fte 2
Actual working hours 152
Personnel Charges 13,289
Benefits In Addition To Wages -
Type of Contract Full-Time Part-Time Total Fte
Unlimited Duration
Contracts 2 1 3
Gender and Education
Level
Men Full-Time
Part-Time Total Fte
Secondary education - 1 1
Working Category Full-Time
Part-Time Total Fte
White collar worker 1 1 2
Blue collar worker 1 - 1
Temporary personnel Total
New staff and leavers Full-Time
Part-Time Total Fte
New Starters 2 - 2
Leavers 1 - 1
Personnel
(NSSO classification)
Description FROM 1 TO 4
EMPLOYEES
Company
accounts
Comparison Mode
·
Average Median Export
accounts to CSV File
Profit & Loss
|
Annual
accounts |
30.06.2013 |
% |
30.06.2012 |
% |
30.06.2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
-- |
-- |
-- |
-- |
-- |
655,387 |
-- |
|
Total
operating expenses |
-- |
--- |
--- |
--- |
-- |
612,428 |
-- |
|
Operating
result |
42,539 |
-10.19 |
47,368 |
-34.97 |
72,843 |
24,685 |
72.33 |
|
Total
financial income |
1,991 |
9696 |
20 |
172 |
7 |
6,647 |
-70.05 |
|
Total
financial expenses |
50,344 |
0.61 |
50,039 |
98.19 |
25,249 |
11,292 |
345 |
|
Results
on ordinary operations before taxation |
-5,815 |
-119 |
-2,651 |
-105 |
47,601 |
20,040 |
-129 |
|
Taxation |
2,068 |
1022 |
-202 |
-101 |
18,124 |
6,662 |
-68.95 |
|
Results
on ordinary operations after taxation |
-7,883 |
-221 |
-2,449 |
-108 |
29,477 |
14,710 |
-153 |
|
Extraordinary
items |
3,623 |
2189 |
158 |
-93.36 |
2,381 |
2,417 |
49.89 |
|
Other
appropriations |
0.00 |
--- |
0.00 |
-- |
0.00 |
--- |
--- |
|
Net
result |
-4,260 |
-85.99 |
-2,291 |
-107 |
38,859 |
17,127 |
-124 |
|
OTHER INFORMATION |
|||||||
|
Gross
Operating Margin |
225,888 |
204 |
74,274 |
-9.14 |
81,746 |
124,235 |
81.82 |
|
Dividends |
--- |
-- |
--- |
--- |
--- |
0 |
-- |
|
Director
remuneration |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
|
Employee
costs |
170,462 |
1182 |
13,289 |
--- |
---- |
132,990 |
28.18 |
|
Wages and salary |
128,935 |
994 |
11,779 |
--- |
--- |
84,650 |
52.31 |
|
Employee pension costs |
--- |
--- |
--- |
--- |
--- |
0 |
--- |
|
Social security contributions |
38394 |
2641 |
1400 |
--- |
--- |
38336 |
0.15 |
|
Other employee costs |
3,133 |
2763 |
109 |
-- |
0 |
6,002 |
-47.80 |
|
Amortization
and depreciation |
9,329 |
-2.36 |
9,555 |
22.30 |
7,813 |
14,473 |
-35.54 |
Balance Sheet
|
Annual accounts |
30-06-2013 |
% |
30-06-2012 |
% |
30-06-2011 |
Industry average 2013 |
% |
|
|
Weeks Currency |
52 EUR |
52 EUR |
52 EUR |
|||||
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
210 |
-100 |
|
|
Tangible fixed assets |
20,046 |
-26.02 |
27,098 |
-4.02 |
28,233 |
103,389 |
-80.61 |
|
|
Land & building |
- |
- |
- |
- |
- |
192,860 |
- |
|
|
Plant & machinery |
3,000 |
-25.00 |
4,000 |
- |
- |
2,318 |
29.42 |
|
|
Furniture & Vehicles |
17,046 |
-26.20 |
23,098 |
-18.19 |
28,233 |
20,506 11,701 |
-16.87 |
|
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
00 |
- |
|
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
3,884 |
-100 |
|
|
Financial fixed assets |
- |
- |
- |
- |
- |
602 |
- |
|
|
Total fixed assets |
20,046 |
-26.02 |
27,098 |
-4.02 |
28,233 |
103,960 |
-80.72 |
|
|
Inventories |
214,541 |
-18.18 |
262,226 |
10.62 |
237,049 |
108,945 |
96.93 |
|
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
- |
- |
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
10,418 |
-100 |
|
|
Finished goods |
0 |
- |
0 |
- |
0 |
0 |
- |
|
|
Other stocks |
214,541 |
-18.18 |
262,226 |
10.62 |
237,049 |
87,633 |
144 |
|
|
Trade debtors |
336,677 |
6.56 |
315,949 |
-14.83 |
370,948 |
108,813 |
209 |
|
|
Cash |
150,794 |
147 |
60,972 |
-52.94 |
129,554 |
100,407 |
50.18 |
|
|
other amounts receivable |
138,210 |
- |
0 |
-100 |
30,650 |
66,208 |
108 |
|
|
Miscellaneous current assets |
55,429 |
770 |
6,365 |
-88.46 |
55,177 |
14,982 |
269 |
|
|
Total current assets |
895,651 |
38.75 |
645,512 |
-21.60 |
823,378 |
388,461 |
130 |
|
|
Total Assets |
915,698 |
36.14 |
672,610 |
-21.02 |
851,611 |
492,421 202,846 |
85.96 |
|
|
current liabilities |
||||||||
|
Trade creditors |
596,737 |
53.81 |
387,977 |
-24.04 |
510,749 |
100,473 |
493 |
|
|
Short term group loans |
- |
- |
- |
- |
||||
|
Financial debts |
100,000 |
163 |
38,000 |
-24.00 |
50,000 |
103,825 82,650 |
-3.68 |
|
|
Current portion of long term
debt |
20,783 |
4.08 |
19,968 |
4.08 |
19,186 |
14,025 12,919 |
48.18 |
|
|
Amounts Payable for Taxes.
Remuneration & Social Security ' |
64,166 |
380 |
13,363 |
-- |
--- |
5,096 |
212 |
|
|
|
|
|
|
|
|
|
||
|
Miscellaneous current
liabilities |
60,000 |
-47.48 114,246 |
114,246 |
-24.02 |
150,363 |
5.29 |
---- |
|
|
Total current liabilities |
841,686 |
46.75 |
573,555 |
-21.46 |
730,2967 |
220,052 |
282 |
|
|
Ling term debts & liabilities
|
|
|
|
|
|
|
|
|
|
Other long term loans |
21,630 |
-49.00 |
42,13 |
-32.01 |
62,381 |
-74.79 |
--- |
|
|
Other long term liabilities |
0 |
-- |
0 |
-- |
0 |
2,250 |
-100 |
|
|
Total long term debts |
21,630 |
-49.00 |
42,13 |
-32.01 |
62,381 |
62,307 |
-65.28 |
|
|
shareholders equity |
||||||||
|
Issued share capital |
20,000 |
0 |
20,000 |
0 |
20,000 |
41,749 |
-52.09 |
|
|
Reserves |
32,382 |
-11.63 |
36,642 |
-5.88 |
38,933 |
168,313 |
-80.76 |
|
|
Total shareholders equity |
52,382 |
-7.52 |
56,642 |
-3.89 |
58,933 |
210,062 |
-75.06 |
|
|
Working capital |
53,965 |
-25.00 |
71,957 |
-22.69 |
93,081 |
168,409 |
-67.96 |
|
|
Cashflow |
5,069 |
-30.22 |
7,264 |
-81.69 |
39,671 |
31,599 |
-83.96 |
|
|
Net worth |
52,382 |
-7.52 |
56,642 |
-3.89 |
58,933 |
209,852 |
-75.04 |
|
Ratio Analysis
|
Annual
accounts |
30.06.2013 |
change(%) |
30.06.2012 |
change(%) |
30.06.2011 |
Industry
average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
-- |
-- |
-- |
-- |
--- |
5,00 |
-- |
|
Return
on capital employed |
-7.86 |
-193 |
-2.68 |
-106 |
39.24 |
29,00 |
-127 |
|
Return
on total assets employed |
-0.64 |
-64.10 |
-0.39 |
-106 |
5.59 |
18,00 |
-103 |
|
Return
on net assets employed |
-11.10 |
-137 |
-4.68 |
-105 |
80.77 |
31,00 |
-135 |
|
Sales
/ net working capital |
-- |
-- |
-- |
-- |
-- |
4,00 |
-- |
|
Stock
turnover ratio |
-- |
-- |
--- |
--- |
-- |
51,00 |
--- |
|
Debtor
days |
-- |
--- |
--- |
--- |
-- |
227,00 |
-- |
|
Creditor
days |
-- |
--- |
--- |
-- |
-- |
98,00 |
--- |
|
SHORT TERM STABILITY |
|||||||
|
Current
ratio |
1.06 |
-6.19 |
1.13 |
0 |
1.13 |
2,00 |
-47.00 |
|
Liquidity
ratio / acid ratio |
0.81 |
20.90 |
0.67 |
-16.25 |
0.80 |
2,00 |
-59.50 |
|
Current
debt ratio |
16.07 |
58.64 |
10.13 |
-18.24 |
12.39 |
2,00 |
703 |
|
LONG TERM STABILITY |
|||||||
|
Gearing |
271.87 |
53.41 |
177.22 |
-20.62 |
223.25 |
-34,00 |
799 |
|
Equity
in percentage |
5.72 |
-32.07 |
8.42 |
21.68 |
6.92 |
36,00 |
-84.11 |
|
Total
debt ratio |
16.48 |
51.61 |
10.87 |
-19.18 |
13.45 |
2,00 |
724 |
Industry
comparison
Activity code 46735
Activity description Wholesaler of
floor and wall tiles
Industry
comparison
Activity code 46735
Activity description Wholesaler of
floor and wall tiles
Industry average payment
expectation days 75.04
Industry average day sales
outstanding 168.18
Industry
quartile analysis
Payment
expectations
Lower 84.79
Median 55.37
Upper 29.12
Day sales
outstanding
Lower 74.30
Median 38.63
Upper 17.09
Shareholder Details
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
Individual
Shareholders
Shareholder Name
Forename Jeannine Middle
name -
Surname Goossens
Shareholder
Details
Start date 23/09/2009 End date -
Percentage owned 50%
Shareholder
Address
Street name Jan Vellestraat House number 11
Minor town Langdorp Postal town Aarschot
Post code 3201 Country
Belgium
Shareholder Name
Forename Louis Middle
name -
Surname Verdonck
Shareholder
Details
Start date 23/09/2009 End date -
Percentage owned 50%
Shareholder
Address
Street name Jan Vellestraat House number 11
Minor town Langdorp Postal town Aarschot
Post code 3201 Country Belgium
NSSO
details
Business number 818992675
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.60.28 |
|
UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.