MIRA INFORM REPORT

 

 

Report Date :

10.05.2014

 

IDENTIFICATION DETAILS

 

Name :

Anno Chemicals NV

 

 

Registered Office :

Berkenlaan 21 2980 Zoersel

 

 

Country :

Belgium

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

22.05.2002

 

 

Com. Reg. No.:

477635225

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

Line of Business :

Agents involved in the sale of fuels, ores, metals and industrial chemicals

 

 

No. of Employees :

3

 

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 :

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

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         477635225

Company name           ANNO CHEMICALS NV

Address                        BERKENLAAN 21 2980 ZOERSEL

Number of staff            3

Date of establishment 22/05/2002

Telephone number      034642532

Fax number                 034642537

 

 

Commentary

 

The business was established over 11 years ago.

The business has 3 employees.

The business is part of a group.

This business has a foreign parent business.

The business has been at the address for over 3 years.  

Operating Result in the latest trading period increased 33% on the previous trading period.

 Pre-tax profits decreased by 56% compared to the previous trading period.

The business saw an increase in their Cash Balance of 131% during the latest trading period.

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

TURNOVER

PROFIT BEFORE TAX

NET WORTH

WORKING CAPITAL

30/09/2013

 

104,576

2,468,457

5,622,335

30/09/2012

 

241,938

2,394,643

7,297,296

30/09/2011

 

698,616

2,189,876

7,030,886

 

Accounts

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF EMPLOYEES

CAPITAL

CASHFLOW

30/09/2013

8,932,115

3

65,000

105,446

30/09/2012

9,464,744

3

65,000

211,976

30/09/2011

11,025,730

3

65,000

554,978

 

 

Trends

 

Profitability

+

Liquidity

 

Net worth

 

Payment expectations

 

 

 

Past payments

 

Payment expectation days

-

Industry average payment

115.77

Industry average day sales

86.64

expectation days

 

outstanding

 

Day sales outstanding

-

Court data summary

BANKRUPTCY DETAILS

Court action type

no

PROTESTED BILLS

Bill amount

-

NSSO DETAILS

Date of summons

-

 

 

Company information

 

Business number

477635225

Company name

ANNO CHEMICALS NV

Fax number

034642537

Date founded

22/05/2002

Company status

active

Company type

Public Limited Liability Company (BE)

Currency

Euro (€)

Date of latest accounts

30/09/2013

Activity code

46120

liable for VAT

 

Activity description

Agents involved in the sale of fuels, ores, metals and industrial chemicals

VAT Number

BE.0477.635.225

Belgian Bullettin of Acts Publications

moniteur belge

 

 

Contractor details

 

 

 

Registered contractor number

-

 

 

Contractor description

-

Date struck off register

 

 

 

Social Balance Sheet Details

 

Social Balance Sheet

Total

During the reporting year ended 30-09-2013

 

Full-time Employees

3

Part-time Employees

-

Total Fte Employees

3

 

 

Number of hours worked

 

Full-time Employees

5,738

Part-time Employees

-

Total

5,738

 

 

Personnel Charges

 

Full-time Employees

310,588

Part-time Employees

-

Total

310,588

Benefits In Addition To Wages

-

 

 

During the previous reporting year

 

Average number employees in Fte

3

Actual working hours

5,510

Personnel Charges

337,019

Benefits In Addition To Wages

-

 

Type of Contract

Full-Time

Part-Time

Total Fte

Unlimited Duration Contracts

3

-

3

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

-

-

-

Higher education (non university)

3

-

3

Higher education (university)

-

-

-

Women

Full-Time

Part-Time

Total Fte

Primary education

-

-

-

Secondairy education

-

-

-

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

 

Working Category

Full-Time

Part-Time

Total Fte

Management

-

-

-

White collar worker

3

-

3

Blue collar worker

-

-

-

Other

-

-

-

 

Temporary personnel

Total

Average number of temporary staff

-

Actual working hours

-

Cost of temporary staff

-

 

New staff and leavers

Full-Time

Part-Time

Total Fte

New Starters

1

-

1

Leavers

1

-

1

 

Total of formal continuing vocational training initiatives

For workers paid by the employer

Male

Female

Number of employees

-

-

Number of training hours

-

-

Net costs for enterprise

-

-

Total of less formal and informal continuing vocational training initiatives for workers paid by the employer

Male

Female

Number of employees

-

-

Number of training hours

-

-

Net costs for enterprise

-

-

Total of initial training initiatives at the expense of the employer

Male

Female

Number of employees

-

-

Number of training hours

-

-

Net costs for enterprise

-

-

 

Personnel (NSSO classification)

Code

-

Description

-

Joint Industrial Committee (JIC)

Significant Events

 

Event Date

26/02/2013

Event Description

re-appointment of director(s)

Event Details

Commentaar 26-02-2013: Herbenoemd als bestuurders en gedelegeerd bestuurders voor een periode van 6 jaar : NV 3Invest en BVBA Vonckx.

 

 

Profit & loss

 

 

Annual accounts

30-09-2013

 

30-09-2012

%

30-09-2011

Industry average 2013

%

 

Weeks

52

 

52

 

52

 

 

 

Currency

EUR

 

EUR

 

EUR

 

 

 

Turnover

-

-

-

-

-

9,683,035

-

 

Total operating expenses

-

-

-

-

-

9,703,837

-

 

Operating result

613,623

33.37

460,085

-68.68

1,468,837

33,520

1730

 

Total financial income

420,367

-57.40

986,710

31.40

750,908

117,327

258

 

Total financial expenses

929,414

-22.86

1,204,857

-20.79

1,521,128

61,701

1406

 

Results on ordinary operations before taxation

104,576

-56.78

241,938

-65.37

698,616

79,306

31.86

 

Taxation

29,806

-63.44

81,535

-57.32

191,025

24,759

20.38

 

Results on ordinary operations after taxation

74,771

-53.39

160,403

-68.40

507,591

59,583

25.49

 

Extraordinary items

-956

-121

4,364

-69.51

14,311

-192,711

0.50

 

Other appropriations

0.00

-

0.00

-

0.00

-

-

 

Net result

73,815

-55.20

164,767

-68.43

521,902

-133,123

55.45

 

OTHER INFORMATION

 

Dividends

-

-

200,000

-

-

215,760

-

 

Director remuneration

-

-

-

-

-

-

-

 

Employee costs

310,588

-7.84

337,019

8.12

311,710

162,620

90.99

 

Wages and salary

225,095

2.07

220,528

16.87

188,688

127,046

77.18

 

Employee pension costs

-

-

-

-

-

0

-

 

Social security contributions

71,346

27.29

56,049

15.23

48,640

37,510

90.21

 

Other employee costs

14,147

-76.59

60,442

-18.74

74,382

5,525

156

 

Amortization and depreciation

31,631

-33.00

47,209

42.73

33,076

19,818

59.61

 

back to top

 

balance sheet

 

 

Annual accounts

30-09­2013

%

30-09­2012

%

30-09-2011

Industry average 2013

%

 

Weeks

52

 

52

 

52

 

 

 

Currency

EUR

 

EUR

 

EUR

 

 

 

Intangible fixed assets

0

-

0

-

240,000

118,343

-100

 

Tangible fixed assets

64,689

42.99

113,466

59.56

71,110

114,226

43.37

 

Land & building

-

-

-

-

-

218,625

-

 

Plant & machinery

6,110

56.33

13,993

197

4,708

12,326

50.43

 

Furniture & Vehicles

34,643

52.20

72,477

135

30,807

11,789 4,156

193

 

Leasing & Other Similar Rights

-

-

-

-

-

0 0

-

 

Other tangible assets

23,936

11.34

26,997

24.16

35,595

1,663

1339

 

Financial fixed assets

710,483

36792

1,926

29.86

2,746

1,605,030

55.73

 

Total fixed assets

775,172

571

115,392

63.23

313,856

1,007,772

23.08

 

Inventories

696,334

-9.34

768,085

8.98

704,773

471,895

47.56

 

Raw materials & consumables

-

-

-

-

-

556,500

-

 

Work in progress

0

-

0

-

0

0

-

 

Finished goods

0

-

0

-

0

74,070

-100

 

Other stocks

696,334

-9.34

768,085

8.98

704,773

60,466

1051

 

Trade debtors

6,130,884

-9.41

6,767,517

10.14

7,531,550

572,094

971

 

Cash

105,336

131

45,419

88.46

393,516

210,306

49.91

 

other amounts receivable

1,065,898

33.46

1,601,877

22.53

2,067,792

111,761

853

 

Miscellaneous current assets

158,491

-4.78

166,454

1068

14,244

24,014

559

 

Total current assets

8,156,943

12.75

9,349,352

12.72

10,711,875

1,055,014

673

 

Total Assets

8,932,115

-5.63

9,464,744

14.16

11,025,730

1,891,977 341,293

372

 

CURRENT LIABILITIES

 

 

 

 

 

 

 

 

Trade creditors

2,423,118

34.00

1,808,359

-7.72

1,959,707

735,961

229

 

Short term group loans

-

-

-

-

-

-

-

 

Financial debts

9,050

-

-

-

1,232,816

219,824 15,000

95.88

 

Current portion of long term debt

-

-

57,468

25.58

77,220

116,338 14,537

-

 

Amounts Payable for Taxes, Remuneration & Social Security

67,225

81.28

37,083

24.34

49,016

13,238 -

89.44

 

Miscellaneous current liabilities

35,215

76.39

149,146

58.83

362,230

-79.79

- -

 

Total current liabilities

2,534,607

23.52

2,052,056

44.25

3,680,989

1,010,801

150

 

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

- -

 

Other long term loans

3,929,050

21.70

5,018,045

2.62

4,889,866

353

- -

 

Deffered taxes

-

-

-

-

-

0 0

-

 

Provisions for Liabilities & Charges

0

-

0

-100

25,000

16,491 0

-100

 

Other long term liabilities

0

-

0

-

0

4,088

-100

 

Total long term debts

3,929,050

21.70

5,018,045

2.10

4,914,866

373,374

952

 

 

 

SHAREHOLDERS EQUITY

 

Issued share capital

65,000

0

65,000

0

65,000

637,235

89.80

 

Share premium account

-

-

-

-

-

17,173

-

 

Reserves

2,403,457

3.17

2,329,643

-1.49

2,364,876

-120,791

1989

 

Revaluation reserve

-

-

-

-

-

37,898

-

 

Total shareholders equity

2,468,457

3.08

2,394,643

-1.45

2,429,876

516,557

377

 

Working capital

5,622,335

22.95

7,297,296

3.79

7,030,886

44,213

12616

 

Cashflow

105,446

50.26

211,976

61.80

554,978

-115,993

90.91

 

Net worth

2,468,457

3.08

2,394,643

9.35

2,189,876

389,458

533

 

back to top

 

 

ratio analysis

 

 

Annual accounts

30-09-2013

change(%)

30-09-2012

change(%)

30-09-2011

Industry average 2013

%

 

TRADING PERFORMANCE

 

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

2,00

-

 

Return on capital employed

1.63

-50.0

3.26

-65.72

9.51

21,00

-92.24

 

Return on total assets employed

1.17

-54.30

2.56

-59.62

6.34

5,00

-76.60

 

Return on net assets employed

4.24

-58.02

10.10

-64.87

28.75

63,00

-93.27

 

Sales / net working capital

-

-

-

-

-

-8,00

-

 

Stock turnover ratio

-

-

-

-

-

24,00

-

 

Debtor days

-

-

-

-

-

146,00

-

 

Creditor days

-

-

-

-

-

56,00

-

 

SHORT TERM STABILITY

 

Current ratio

3.22

-29.39

4.56

56.70

2.91

4,00

-

 

Liquidity ratio / acid ratio

2.94

-29.67

4.18

53.68

2.72

4,00

-26.50

 

Current debt ratio

1.03

19.77

0.86

-43.05

1.51

0,00

-

 

Liquidity ratio reprocessed

-

-

-

-

-

-

-

 

LONG TERM STABILITY

 

Gearing

159.54

-24.73

211.95

-16.93

255.15

-239,00

66.75

 

Equity in percentage

27.64

9.25

25.30

12.29

22.53

-152,00

18.18

 

Total debt ratio

2.62

-11.19

2.95

-16.67

3.54

-2,00

131

 

 

Industry comparison

 

Activity code

46120

Activity description

Agents involved in the sale of fuels, ores, metals and industrial chemicals

industry average credit rating

66.67

Industry average credit limit

49733.77

 

 

Payment Information

 

Suspension of payments / moratorium history

 

Amount

-

Details

-

Payment expectations

Payment expectation days

-

Day sales outstanding

-

Industry comparison

Activity code

46120

Activity description

Agents involved in the sale of fuels, ores, metals and industrial chemicals

Industry average payment expectation days

115.77

Industry average day sales outstanding

86.64

Industry quartile analysis

Payment expectations

Company result

-

Lower

96.37

Median

58.31

Upper

28.46

 

Day sales outstanding

Company result

-

Lower

75.13

Median

39.09

Upper

10.48

 

 

Shareholder Details

 

Group - Number of Companies

3

Linkages - Number of Companies

3

Number of Countries

1

 

Group Structure

 

Click the company to view / order a report.

Company name

 

Number

Safe

number

Latest financials

Rating

- ANNO CHEMICALS NV

 

477635225

BE00491679

30-09-2013

78

- - PARALEL SOC.ETR. E.P.B.

 

- - SAME CHEMICALS B.V.

 

23031961

NL01148537

31-12-2012

43

 

Minority Shareholders

 

Business number

Company name

 

Safe number

%

Rating

Limit

Date of accounts

882011003

Associated Business Partners BVBA

 

BE01247585

50

55

€0

31/12/2012

 

 

Minority Interests

 

Companies that match this address

 

Business number

Company name

Rating

Limit

Date of accounts

828243903

ABP BTW EENHEID

91

4500

-

879348253

C 4 Q BVBA

52

0

30/09/2013

882011003

ASSOCIATED BUSINESS PARTNERS BVBA

55

0

31/12/2012

 

 

Linked Companies

 

Summary

 

Group - Number of Companies

3

Linkages - Number of Companies

3

Number of Countries

1

Linked Companies

Click the company to view / order a report.

NAME

 

SAFE NUMBER

NUMBER

LATEST

KEY

FINANCIALS

RATING

LIMIT

TURNOVER

ADVANCED ENVIRONMENTAL SOLUTIONS BVBA

 

BE00966800

817157001

31.12.2012

70

€38.000

-

CAMMOTION BVBA

 

BE01444914

829959813

31.12.2012

60

€2.000

-

ASSOCIATED BUSINESS PARTNERS BVBA

 

BE01247585

882011003

31.12.2012

55

€0

-

 

Protested bills

 

Drawee name

-

Address

-

Bill amount

-

Bill currency

-

Maturity of bill

-

Name of drawer

-

City of drawer

-

NSSO details

Business number

477635225

Name of defendant

-

Legal form of defendant

-

Date of summons

-

Labour court

-

Bankruptcy details

 

 

court data

there is no data for this company

 

 

Current director details

 

Name

3INVEST NV

Position

Director

Start Date

01/07/2011

Date of birth

28/10/2004

Street

14 SILVESTERLAAN SCHILDE

Post code

2970

Country

Belgium

 

Name

3INVEST NV

Position

Legal Representative

Start Date

01/07/2011

Date of birth

28/10/2004

Street

14 SILVESTERLAAN SCHILDE

Post code

2970

Country

Belgium

 

Name

VONCKX BVBA

Position

Director

Start Date

01/10/2010

Date of birth

05/01/2010

Street

46 RODEDREEF SCHILDE

Post code

2970

Country

Belgium

 

Name

VONCKX BVBA

Position

Legal Representative

Start Date

01/10/2010

Date of birth

05/01/2010

Street

46 RODEDREEF SCHILDE

Post code

2970

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.05

UK Pound

1

Rs.101.65

Euro

1

Rs.83.07

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

PDT

 

               

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.