MIRA INFORM REPORT
|
Report Date : |
24.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL PIPELINE SOLUTIONS NV |
|
|
|
|
Registered Office : |
Stroomstraat 11, 9970 Kaprijke |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
29.10.1993 |
|
|
|
|
Com. Reg. No.: |
451158480 |
|
|
|
|
Legal Form : |
Public Limited Liability
Company |
|
|
|
|
Line of Business : |
Activities of holding
companies (We tried to
confirm / obtain the detailed activity but the same is not available from any
sources.) |
|
|
|
|
No. of Employees |
01 (30.06.2012) |
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 |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 2011 Belgian
GDP grew by 1.8%, the unemployment rate decreased slightly to 7.2% from 8.3%
the previous year, and the government reduced the budget deficit from a peak of
6% of GDP in 2009 to 4.2% in 2011 and 3.3% in 2012. Fourth quarter GDP growth
in 2012 was at -0.1%, the third consecutive quarter of negative growth. This
brought economic growth for the whole of 2012 to negative 0.2%. It also left
Belgium on the brink of a possible recession at the end of 2012. However, at
year's end, the government appeared close to meeting its 2012 budget deficit goal
of 3% of GDP. 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 451158480
Company name GLOBAL PIPELINE
SOLUTIONS NV
Address STROOMSTRAAT 11
9970 KAPRIJKE
Telephone number 093737813
Fax number 093283820
Number of staff 01 (30.06.2012)
Date of establishment 29/10/1993
Commentary
|
The
business was established over 20 years ago. |
|
|
The
business has 1 employees. |
|
|
The
business has changed its registered name recently. |
|
|
The
business has been at the address for over 13 years. |
|
Accounts
|
DATE OF LATEST ACCOUNTS |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
30/06/2012 |
-6,783 |
78,959 |
78,959 |
|
30/06/2011 |
-7,140 |
74,742 |
74,742 |
|
30/06/2010 |
-34,715 |
81,686 |
81,089 |
Accounts
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
30/06/2012 |
- |
01 |
70,000 |
4,217 |
|
30/06/2011 |
- |
0 |
70,000 |
-6,901 |
|
30/06/2010 |
83,555 |
0 |
70,000 |
-26,421 |
Trends
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
|
Past payments |
-- |
Payment expectation days |
--- |
|
Industry average payment expectation days |
100.30 |
Industry average day sales outstanding |
211.90 |
Court
data summary
|
BANKRUPTCY DETAILS |
|
|
Court action type |
no |
Company
information
|
Business
number |
451158480 |
Company name |
GLOBAL PIPELINE SOLUTIONS NV |
|
Fax number |
093283820 |
Date founded |
29/10/1993 |
|
Company status |
active |
Company type |
Public Limited Liability Company (BE) |
|
Currency |
Euro (€) |
Date of
latest accounts |
30/06/2012 |
|
Activity
code |
64200 |
liable for
VAT |
yes |
|
Activity
description |
Activities of holding companies |
VAT Number |
BE.0451.158.480 |
|
Belgian
Bullettin of Acts Publications |
Moniteur Belge (Belgian Monitor) |
Personnel
(NSSO classification)
|
Code |
- |
|
Description |
01
EMPLOYEES |
Joint
Industrial Committee
(JIC)
|
Significant Events |
|
|
Event Date |
04/10/2013 |
|
Event Details |
Deposited
to a copy of the improving deed drawn by master Liesbet Degroote, associate
solicitor in Kortrijk, on September 11, 2013, and the gecobrdineerde text of
the statutes. |
Company
accounts
Comparison
Mode
· average median Export accounts to CSV file
Profit & Loss
|
Annual
accounts |
30-06-2012 |
% |
30-06-2011 |
% |
30-06-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
- |
- |
- |
- |
- |
3,584,935 |
- |
|
Total
operating expenses |
- |
- |
- |
- |
- |
3,445,194 |
- |
|
Operating
result |
-7,146 |
84.49 |
-8,458 |
23.64 |
-35,786 |
85,777 |
-108 |
|
Total
financial income |
375 |
-71.84 |
1,331 |
20.10 |
1,108 |
763,750 |
-99 |
|
Total
financial expenses |
12 |
-8.99 |
13 |
-64.05 |
37 |
302,280 |
-99 |
|
Results
on ordinary operations before taxation |
-6,783 |
95.00 |
-7,140 |
20.57 |
-34,715 |
474,881 |
-101 |
|
Taxation |
- |
- |
- |
- |
- |
38,644 |
- |
|
Results
on ordinary operations after taxation |
-6,783 |
95.00 |
-7,140 |
20.57 |
-34,715 |
444,094 |
-101 |
|
Extraordinary
items |
11,000 |
5500 |
196 |
142 |
-138 |
195,294 |
-94.37 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net
result |
4,217 |
60.73 |
-6,944 |
19.92 |
-34,853 |
639,557 |
-99 |
|
OTHER INFORMATION |
|
|
|
|
|
|
|
|
Dividends |
- |
- |
- |
- |
- |
2,761,485 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
430,974 |
- |
|
Employee
costs |
- |
- |
- |
- |
- |
411,709 |
- |
|
Wages and salary |
- |
- |
- |
- |
- |
365,493 |
- |
|
Employee pension costs |
- |
- |
- |
- |
- |
10,418 |
- |
|
Social security contributions |
- |
- |
- |
- |
- |
104,172 |
- |
|
Other employee costs |
0 |
- |
0 |
- |
0 |
7,414 |
-100 |
|
Amortization
and depreciation |
- |
- |
43 |
-99 |
8,432 |
76,735 |
- |
Balance Sheet
|
Annual
accounts |
30-06-2012 |
% |
30-06-2011 |
% |
30-06-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
205,885 |
-100 |
|
Tangible
fixed assets |
- |
- |
- |
- |
597 |
521,718 |
- |
|
Land & building |
- |
- |
- |
- |
- |
710,059 |
- |
|
Plant & machinery |
- |
- |
- |
- |
- |
173,311 |
- |
|
Furniture & Vehicles |
- |
- |
- |
- |
597 |
27,239 8,674 |
- |
|
Leasing & Other Similar
Rights |
- |
- |
- |
- |
- |
98,162 6,746 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
33,440 |
-100 |
|
Financial
fixed assets |
- |
- |
- |
- |
- |
14,971,126 |
- |
|
Total
fixed assets |
- |
- |
- |
- |
597 |
10,890,804 |
- |
|
Inventories |
6,101 |
-60.0 |
15,253 |
0 |
15,253 |
584,459 |
98.96 |
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
183,870 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
1,487 |
-100 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
11,359 |
-100 |
|
Other stocks |
6,101 |
-60.0 |
15,253 |
0 |
15,253 |
36,302 |
83.19 |
|
Trade
debtors |
9,075 |
598 |
1,300 |
- |
0 |
155,508 |
94.16 |
|
Cash |
65,250 |
11.56 |
58,487 |
-8.85 |
64,168 |
350,675 |
81.39 |
|
other
amounts receivable |
56 |
68.01 |
176 |
95.03 |
3,537 |
3,176,213 |
-99 |
|
Miscellaneous
current assets |
0 |
- |
0 |
- |
0 |
2,005,404 |
-100 |
|
Total
current assets |
80,483 |
7.00 |
75,216 |
-9.33 |
82,958 |
5,721,640 |
98.59 |
|
Total
Assets |
80,483 |
7.00 |
75,216 |
-9.98 |
83,555 |
16,042,888 611,222 |
-99 |
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
Trade
creditors |
762 |
73.98 |
438 |
76.58 |
1,869 |
145,982 |
-99 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
- |
- |
- |
- |
- |
6,193,858 15,288 |
- |
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
408,001 27,866 |
- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
733 |
12027 |
6 |
- |
- |
10,393 - |
98.76 |
|
Miscellaneous
current liabilities |
30 |
0 |
30 |
- |
0 |
-99 |
- - |
|
Total
current liabilities |
1,524 |
221 |
474 |
74.64 |
1,869 |
2,741,945 |
-99 |
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
- |
- |
- |
- |
- |
- |
- - |
|
Deffered
taxes |
- |
- |
- |
- |
- |
61,015 8,616 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
63,566 0 |
-100 |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
139,183 |
-100 |
|
Total
long term debts |
0 |
- |
0 |
- |
0 |
1,924,576 |
-100 |
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
Issued
share capital |
70,000 |
0 |
70,000 |
0 |
70,000 |
6,671,737 |
98.95 |
|
Share
premium account |
- |
- |
- |
- |
- |
52,148,079 |
- |
|
Reserves |
8,959 |
88.92 |
4,742 |
59.42 |
11,686 |
2,231,625 |
-99 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
728,542 |
- |
|
Total
shareholders equity |
78,959 |
5.64 |
74,742 |
-8.50 |
81,686 |
11,367,163 |
-99 |
|
Working
capital |
78,959 |
5.64 |
74,742 |
-7.83 |
81,089 |
2,979,695 |
97.35 |
|
Cashflow |
4,217 |
61.11 |
-6,901 |
26.12 |
-26,421 |
697,895 |
-99 |
|
Net
worth |
78,959 |
5.64 |
74,742 |
-8.50 |
81,686 |
11,156,228 |
-99 |
ratio
analysis
|
Annual
accounts |
30-06-2012 |
change(%) |
30-06-2011 |
change(%) |
30-06-2010 |
Industry average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
- |
- |
- |
- |
- |
595,00 |
- |
|
Return
on capital employed |
-8.59 |
89.95 |
-9.55 |
22.47 |
-42.50 |
24,00 |
-135 |
|
Return
on total assets employed |
-8.43 |
88.83 |
-9.49 |
22.84 |
-41.55 |
122,00 |
-106 |
|
Return
on net assets employed |
-8.59 |
89.95 |
-9.55 |
22.47 |
-42.50 |
28,00 |
-130 |
|
Sales
/ net working capital |
- |
- |
- |
- |
- |
1,00 |
- |
|
Stock
turnover ratio |
- |
- |
- |
- |
- |
295,00 |
- |
|
Debtor
days |
- |
- |
- |
- |
- |
4.794,00 |
- |
|
Creditor
days |
- |
- |
- |
- |
- |
177,00 |
- |
|
SHORT TERM STABILITY |
|||||||
|
Current
ratio |
52.80 |
-66.72 |
158.67 |
257 |
44.38 |
502,00 |
1660 |
|
Liquidity
ratio / acid ratio |
48.80 |
-61.42 |
126.50 |
249 |
36.22 |
502,00 |
-90.28 |
|
Current
debt ratio |
0.02 |
100 |
0.01 |
-50.0 |
0.02 |
3,00 |
-99 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|||||||
|
Gearing |
- |
- |
- |
- |
- |
368,00 |
- |
|
Equity
in percentage |
98.11 |
-1.27 |
99.37 |
1.65 |
97.76 |
-1.010,00 |
9.71 |
|
Total
debt ratio |
0.02 |
100 |
0.01 |
-50.0 |
0.02 |
5,00 |
-99 |
Industry
comparison
|
Activity Code |
64200 |
|
Activity description |
Activities
of holding companies |
Industry
comparison
|
|
|
Activity code |
64200 |
|
Activity description |
Activities
of holding companies |
|
Industry average payment expectation days |
100.30 |
|
Industry average day sales outstanding |
211.90 |
Industry
quartile analysis
|
Payment expectations |
|
|
Company result |
- |
|
Lower |
127.32 |
|
Median |
53.81 |
|
Upper |
25.56 |
|
Day sales outstanding |
|
|
Company result |
- |
|
Lower |
72.95 |
|
Median |
24.74 |
|
Upper |
7.56 |
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 |
451158480 |
Bankruptcy
details
There is no bankruptcy data against this company
Bankruptcy
Data
Court Data
there is no data for this company
Director
details
|
Current director details |
|
|
Name |
WILLY
MAURICE CONSTANT DE LETTER |
|
Position |
Chairman
of the Board |
|
Start Date |
13/12/2006 |
|
Street |
11
STROOMSTRAAT KAPRIJKE |
|
Post code |
9970 |
|
Country |
Belgium |
|
|
|
|
Name |
WILLY
MAURICE CONSTANT DE LETTER |
|
Position |
Director |
|
Start Date |
26/10/2012 |
|
End Date |
02/09/2018 |
|
Street |
11
STROOMSTRAAT KAPRIJKE |
|
Post code |
9970 |
|
Country |
Belgium |
|
Name |
DOMINIQUE
MARIA JOZEF DE LETTER |
|
Position |
Director |
|
Start Date |
02/09/2013 |
|
Date of birth |
30/03/1979 |
|
Street |
18
MEIRELOS DEINZE |
|
Post code |
9800 |
|
Country |
Belgium |
|
|
|
|
Name |
DOMINIQUE
MARIA JOZEF DE LETTER |
|
Position |
Managing
Director |
|
Start Date |
02/09/2013 |
|
Date of birth |
30/03/1979 |
|
Street |
18
MEIRELOS DEINZE |
|
Post code |
9800 |
|
Country |
Belgium |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
UK Pound |
1 |
Rs.100.80 |
|
Euro |
1 |
Rs.84.18 |
INFORMATION DETAILS
|
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.