MIRA INFORM REPORT

 

 

Report Date :

14.03.2014

 

IDENTIFICATION DETAILS

 

Name :

ALLCHEM SA

 

 

Registered Office :

Rue Jean Gruslin 18 4460 Grcehollogne

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

12.10.1979

 

 

Com. Reg. No.:

419833816

 

 

Legal Form :

Public Limited Liability Company

 

 

Line of Business :

Wholesale of cleaning products

 

 

No. of Employees :

02

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Belgium

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

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 name and address

 

Business number                       419833816

Company name                         ALLCHEM SA

Address                                    RUE JEAN GRUSLIN

18 4460 GRCEHOLLOGNE

 

Number of staff                          2

Date of establishment                 12/10/1979

Telephone number                      042391095

Fax number                               042391097

 

 

Commentary

 

The business was established over 34 years ago.

 

The business has 1 employees.

 

The business has changed its registered name recently.

 

The business has been at the address for over 14 years.

 

Operating Result in the latest trading period decreased 29% on the previous trading period.

 

Pre-tax profits decreased by 62% compared to the previous trading period.

 

The business saw a decrease in their Cash Balance of 75% during the latest trading period.

 

 

 

ACCOUNTS

 

DATE OF LATEST ACCOUNTS

TURNOVER

PROFIT BEFORE TAX

NET WORTH

WORKING CAPITAL

31/12/2012

 

35,406

483,312

636,188

31/12/2011

 

95,032

462,810

611,209

31/12/2010

 

73,041

389,236

412,164

 

 

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF EMPLOYEES

CAPITAL

CASHFLOW

31/12/2012

2,040,156

2

225,000

29,719

31/12/2011

2,043,952

2

225,000

82,935

31/12/2010

1,829,784

2

225,000

55,759

 

 

 

Payment expectations 

           

Past payments

 

Payment expectation days -

Industry average payment expectation days

53.03

Industry average day sales 80.98

outstanding

 

 

Social Balance Sheet

 

Social Balance Sheet

Total

During the reporting year ended 31-12-2012

 

Full-time Employees

1

Part-time Employees

2

Total Fte Employees

2

 

 

Number of hours worked

 

Full-time Employees

1,760

Part-time Employees

1,774

Total

3,534

 

 

Personnel Charges

 

Full-time Employees

1,760

Part-time Employees

3,548

Total

5,308

Benefits In Addition To Wages

-

 

 

During the previous reporting year

 

Average number employees in Fte

2

Actual working hours

3,685

Personnel Charges

7,370

Benefits In Addition To Wages

-

 

 

summary

 

Business number

419833816

Company name

ALLCHEM SA

Fax number

042391097

Date founded

12/10/1979

Company status

active

Company type

Public Limited Liability Company (BE)

Currency

Euro (€)

Date of latest accounts

31/12/2012

Activity code

46442

liable for VAT

yes

Activity description

Wholesale of cleaning products

VAT Number

BE.0419.833.816

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

Code

-

Description

FROM 1 TO 4 EMPLOYEES

Joint Industrial Committee (JIC)

Significant Events

 

Event Date

30/10/2009

Event Description

re-appointment of director(s)

Event Details

0-10-2009 Comment: Renewal of the mandate of Managing Director, Chairman of the Board of Joaquim Madeira Ruas for a period of six years.

 

 

Profit & loss

 

 

Annual accounts

31-12­2012

%

31-12­2011

%

31-12­2010

Industry average 2012

%

 

Weeks

52

 

52

 

52

 

 

 

Currency

EUR

 

EUR

 

EUR

 

 

 

Turnover

-

-

-

-

-

4,028,848

-

 

Total operating expenses

-

-

-

-

-

3,797,180

-

 

Operating result

58,289

-29.44

82,605

176

29,920

77,150

-24.45

 

Total financial income

45,478

-23.69

59,598

-30.16

85,334

12,318

269

 

Total financial expenses

68,361

44.92

47,171

11.74

42,213

19,296

254

 

Results on ordinary operations before taxation

35,406

-62.74

95,032

30.11

73,041

69,254

-48.88

 

Taxation

14,905

-30.54

21,458

-20.69

27,054

34,893

-57.29

 

Results on ordinary operations after taxation

20,501

-72.14

73,574

59.99

45,987

44,907

-54.35

 

Extraordinary items

0

-

0

-

0

2,794

-100

 

Other appropriations

0.00

-

0.00

-

0

-

-

 

Net result

20,501

-72.14

73,574

59.99

45,987

47,778

-57.09

 

OTHER INFORMATION

 

Dividends

-

-

-

-

-

195,540

-

 

Director remuneration

-

-

-

-

-

141,726

-

 

Employee costs

71,661

-42.97

125,654

-18.48

154,136

302,563

-76.32

 

Wages and salary

71,661

-42.97

125,654

-18.48

154,136

228,552

-68.65

 

Employee pension costs

-

-

-

-

-

4,454

-

 

Social security contributions

-

-

-

-

-

70,829

-

 

Other employee costs

0

-

0

-

0

9,371

-100

 

Amortization and depreciation

9,218

-1.52

9,361

-4.21

9,772

39,726

-76.80

 

 

 

 

 

 

 

back to top

 

 

balance sheet

 

 

Annual accounts

31-12­2012

%

31-12­2011

%

31-12­2010

Industry average 2012

%

 

Weeks

52

 

52

 

52

 

 

 

Currency

EUR

 

EUR

 

EUR

 

 

 

Intangible fixed assets

0

-

0

-

0

5,746

-100

 

Tangible fixed assets

12,369

42.70

21,587

26.27

29,277

214,950

94.25

 

Land & building

-

-

-

-

-

287,391

-

 

Plant & machinery

2,286

34.30

3,480

25.54

4,673

30,078

92.40

 

Furniture & Vehicles

10,083

44.32

18,107

26.41

24,604

28,031 10,362

64.03

 

Leasing & Other Similar Rights

-

-

-

-

-

69,344 13,652

-

 

Other tangible assets

0

-

0

-

0

18,385

-100

 

Financial fixed assets

186

0

186

-0.04

186

34,520

-99

 

Total fixed assets

12,555

42.34

21,773

26.10

29,463

232,122

94.59

 

Inventories

448,345

20.25

562,163

40.89

399,021

297,899

50.50

 

Raw materials & consumables

-

-

-

-

-

399,704

-

 

Work in progress

0

-

0

-

0

183

-100

 

Finished goods

0

-

0

-

0

94,563

-100

 

Other stocks

448,345

20.25

562,163

40.89

399,021

115,938

286

 

Trade debtors

1,530,948

19.73

1,278,617

-8.32

1,394,586

312,407

390

 

Cash

40,833

75.86

169,174

-

-

98,320

58.47

 

other amounts receivable

7,475

38.85

12,225

82.08

6,714

255,764

97.08

 

Miscellaneous current assets

0

-

0

-

0

30,054

-100

 

Total current assets

2,027,602

0.27

2,022,179

12.32

1,800,321

910,832

122

 

Total Assets

2,040,156

-0.19

2,043,952

11.70

1,829,784

1,130,069

330,351

80.53

 

CURRENT LIABILITIES

 

Trade creditors

1,064,622

-0.15

1,066,232

3.18

1,033,377

259,439

310

 

Short term group loans

-

-

-

-

-

-

-

 

Financial debts

300,000

0

300,000

0

300,000

182,957 29,885

63.97

 

Current portion of long term debt

9,840

40.98

16,674

54.01

36,257

63,923 18,221

84.61

 

Amounts Payable for Taxes, Remuneration & Social Security

15,463

41.81

26,576

56.00

17,036

14,784 -

63.15

 

Miscellaneous current liabilities

1,487

0

1,487

0.02

1,487

-98.38

- -

 

Total current liabilities

1,391,414

-1.39

1,410,970

1.64

1,388,157

478,478

190

 

LONG TERM DEBTS AND LIABILITIES

 

Long term group loans

-

-

-

-

-

-

- -

 

Other long term loans

165,431

-2.79

170,172

414

33,061

-17.02

- -

 

Deffered taxes

-

-

-

-

-

22,763 18,004

-

 

Provisions for Liabilities & Charges

0

-

0

-

0

9,289 0

-100

 

Other long term liabilities

0

-

0

-100

19,330

5,999

-100

 

Total long term debts

165,431

-2.79

170,172

224

52,391

120,656

37.11

 

SHAREHOLDERS EQUITY

 

Issued share capital

225,000

0

225,000

0

225,000

223,791

0.54

 

 

Share premium account

-

-

-

-

-

795,910

-

 

Reserves

258,312

8.62

237,810

44.80

164,236

289,464

10.76

 

Revaluation reserve

-

-

-

-

-

13,662

-

 

Total shareholders equity

483,312

4.43

462,810

18.90

389,236

523,668

-7.71

 

Working capital

636,188

4.09

611,209

48.29

412,164

432,354

47.15

 

Cashflow

29,719

64.17

82,935

48.74

55,759

83,416

64.37

 

Net worth

483,312

4.43

462,810

18.90

389,236

517,922

-6.68

 

back to top

 

 

ratio

 

 

Annual accounts

31-12-2012

change(%)

31-12-2011

change(%)

31-12-2010

Industry average 2012

%

 

TRADING PERFORMANCE

 

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

4,00

-

 

Return on capital employed

5.46

-63.62

15.01

-9.25

16.54

-16,00

34.12

 

Return on total assets employed

1.74

-62.58

4.65

16.54

3.99

-3,00

58.00

 

Return on net assets employed

7.33

-64.30

20.53

9.38

18.77

-6,00

122

 

Sales / net working capital

-

-

-

-

-

7,00

-

 

Stock turnover ratio

-

-

-

-

-

19,00

-

 

Debtor days

-

-

-

-

-

91,00

-

 

Creditor days

-

-

-

-

-

51,00

-

 

SHORT TERM STABILITY

 

Current ratio

1.46

2.10

1.43

10.0

1.30

13,00

-70.80

 

Liquidity ratio / acid ratio

1.14

10.68

1.03

1.98

1.01

12,00

-90.50

 

Current debt ratio

2.88

-5.57

3.05

-14.57

3.57

5,00

-42.40

 

Liquidity ratio reprocessed

-

-

-

-

-

-

-

 

LONG TERM STABILITY

 

Gearing

98.34

-6.51

105.19

10.87

94.88

88,00

11.75

 

Equity in percentage

23.69

4.64

22.64

6.44

21.27

8,00

196

 

Total debt ratio

3.22

-5.85

3.42

-7.57

3.70

6,00

-46.33

 

 

Activity

 

Activity code

46442

Activity description

Wholesale of cleaning products

industry average credit rating

65.07

Industry average credit limit

23711.38

 

 

Payment Information

 

Payment Information Summary

Total number of Invoices available                                                                                                            2

Total number of Invoices paid within or up to 30 days after the due date                                               2

Total number of Invoices paid more than 30 days after the due date                                                      0

Total number of Invoices currently outstanding where the due date has not yet been reached              0

 

 

Payment expectations

 

Amount

-

Details

-

Payment expectations

Payment expectation days

-

Day sales outstanding

-

Industry comparison

Activity code

46442

Activity description

Wholesale of cleaning products

Industry average payment expectation days

53.03

Industry average day sales outstanding

80.98

Industry quartile analysis

Payment expectations

Company result

-

Lower

80.28

Median

52.11

Upper

32.70

 

Company result

-

Lower

77

Median

31.96

 

 

Summary

 

Group - Number of Companies

0

Linkages - Number of Companies

0

Number of Countries

0

 

Group Structure

group structure for this company.

 

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

Companies that match this address

 

Business number

Company name

Rating

Limit

Date of accounts

452733444

SOMACOLOR SPRL

76

20000

31/12/2012

 

 

Linked Companies

 

Group - Number of Companies

0

Linkages - Number of Companies

0

Number of Countries

0

 

 

NSSO details

 

Business number

419833816

Name of defendant

-

Legal form of defendant

-

Date of summons

-

Labour court

-

Bankruptcy details

 

 

Director details

 

Current director details

Name

JOAQUIM RUAS MADEIRA

Position

Director

Start Date

05/01/2004

Date of birth

11/09/1954

Street

50 RUE JACQUES MUSCH CHAUDFONTAINE

Post code

4053

Country

Belgium

 

Name

JOAQUIM RUAS MADEIRA

Position

Managing Director

Start Date

05/01/2004

Date of birth

11/09/1954

Street

50 RUE JACQUES MUSCH CHAUDFONTAINE

Post code

4053

Country

Belgium

 

Name

JOAQUIM RUAS MADEIRA

Position

Chairman of the Board

Start Date

05/11/2009

Date of birth

11/09/1954

Street

50 RUE JACQUES MUSCH CHAUDFONTAINE

Post code

4053

Country

Belgium

 

Name

JOSE DA SILVA RESENDE

Position

Director

Start Date

05/11/2009

Street

23 RUE 18 DE ABRIL SAINT-NICOLAS

Post code

4420

Country

Belgium

 

Name

FRANCOIS SIMONS

Position

Director

Start Date

30/10/2009

Street

31 RUE DE LA JUSTICE SAINT-NICOLAS

Post code

4420

Country

Belgium

 

Name

FILIPO DOLLFUS DE VOLKERSBERG

Position

Director

Start Date

19/02/1999

Street

CHESA STEINBOCK

Post code

 

Country

Switzerland

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.02

UK Pound

1

Rs.101.65

Euro

1

Rs.85.02

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.