MIRA INFORM REPORT

 

 

Report Date :

20.05.2014

 

IDENTIFICATION DETAILS

 

Name :

G.A. MAAS LEDER B.V.

 

 

Registered Office :

Industrieweg 40, 5145PV Waalwijk

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.08.2013

 

 

Date of Incorporation :

01.09.1926

 

 

Com. Reg. No.:

18106695

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesaler of leather and semi-finished leather products

 

 

No of Employees :

08 (2014)

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Netherlands

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

 

 

netherlands ECONOMIC OVERVIEW

 

The Dutch economy is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit in 2011. In 2012-13 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. Although jobless claims continued to grow, the unemployment rate remained relatively low at 6.8 percent.

 

Source : CIA

 

 

Company summary

 

Company name                       G.A. Maas Leder B.V.

 

Operative address                   Industrieweg 40

5145PV Waalwijk

Netherlands

Status                                      Active

 

Legal form                               Besloten Vennootschap (Private Company)

 

Registration number                KvK-nummer: 18106695

 

VAT-number                            009715599

 

Year

2013

Mutation

2012

Mutation

2011

Fixed Assets

188.230

-9,34

207.630

28,19

161.968

Total Receivables

1.476.851

7,69

1.371.383

10,68

1.239.044

Total equity

1.207.567

71,33

704.834

5,81

666.142

Short term liabilities

1.007.423

21,10

831.899

555,14

126.981

Working capital

2.519.337

26,14

1.997.204

-23,89

2.624.123

Quick Ratio

1,73

-13,07

1,99

-84,91

13,19

 

 

Contact information

 

Company name           G.A. Maas Leder B.V.

 

Trade names               G.A. Maas Leder B.V.

Maas Leder

 

Operative address       Industrieweg 40

5145PV Waalwijk

Netherlands

Correspondence

address                        Postbus 59

5140AB Waalwijk

Netherlands

Telephone number      0416335031

Fax number                 0416331658

Email address              gmaas@ga-maas-leder.com / office@ga-maas-leder.com

Website                       www.ga-maas-leder.com

 

Registration

 

Registration number    KvK-nummer: 18106695

Branch number            000018340741

VAT-number                009715599

Status                          Active

First registration

company register         1989-12-22

Memorandum              1989-11-28

Establishment date      1926-09-01

Legal form                   Besloten Vennootschap (Private Company)

 

Activities

 

SBI                   Wholesaler of leather and semi-finished leather products (46242)

Exporter           Yes

Importer           Yes

Goal                 De groothandel in leder en fournituren (The wholesale leather and haberdashery)

 

Relations

 

Shareholders               Gamas Holding B.V.

Kloosterweg 58

5144CB WAALWIJK

Netherlands

Registration number: 180476720000

Percentage: 100.00%

 

 

Management

 

Active Management

 

Gamas Holding B.V.

Kloosterweg 58

5144CB WAALWIJK

Netherlands

Registration number: 180476720000

Competence: Fully authorized

Function: Manager

Starting date: 1999-12-30

 

 

Employees

 

Total according to the Chamber of Commerce                                    8

 

Year                             2014     2013     2012     2011     2010

Total                             8          7          9          8          7

 

 

 

Payments

 

Description Payments made under regular condition

 

Year

2013

2012

2011

2010

2009

Quick ratio

1,73

1,99

13,19

14,12

8,92

Current ratio

3,50

3,40

21,67

22,10

12,33

 

Working capital/ balance total

0,68

0,66

0,90

0,90

0,89

Equity / balance total

0,33

0,23

0,23

0,25

0,30

Equity / Fixed assets

6,42

3,39

4,11

4,81

8,83

Equity / liabilities

0,48

0,30

0,30

0,34

0,42

Balance total / liabilities

1,48

1,30

1,30

1,34

1,42

 

Working capital

2.519.337

1.997.204

2.624.123

2.362.498

2.062.146

Equity

1.207.567

704.834

666.142

661.836

685.901

Mutation equity

71,33

5,81

0,65

-3,51

2,17

Mutation short term liabilities

21,10

555,14

13,42

-38,49

-28,03

 

Summary

The 2013 financial result structure is a positive working capital of 2.519.337 euro, which is in agreement with 68 % of the total assets of the company.

 

The working capital has increased with 26.14 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

 

The improvement between 2012 and 2013 has mainly been caused by an increase of the current assets.

 

The current ratio of the company in 2013 was 3.5. If the current ratio exceeds 3.0, the company may not be using its current assets or its short-term financing facilities efficiently .

 

The quick ratio in 2013 of the company was 1.73. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

The 2012 financial result structure is a positive working capital of 1.997.204 euro, which is in agreement with 66 % of the total assets of the company.

 

The working capital has diminished with -23.89 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.

 

The deterioration between 2011 and 2012 has mainly been caused by an increase of the current liabilities.

 

The current ratio of the company in 2012 was 3.4. If the current ratio exceeds 3.0, the company may not be using its current assets or its short-term financing facilities efficiently .

 

The quick ratio in 2012 of the company was 1.99. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

 

 

Financial statement

 

Type of annual account               Corporate

Annual account                          G.A. Maas Leder B.V.

Industrieweg 40

5145PV Waalwijk

Netherlands

Registration number:                  181066950000

 

Balance Sheet

Year

2013

2012

2011

2010

2009

 

2013-08-31

2012-08-31

2011-08-31

2010-08-31

2009-08-31

Tangible fixed assets

188.230

207.630

161.968

137.599

77.651

Fixed assets

188.230

207.630

161.938

137.599

77.651

Total stock

1.780.875

1.172.777

1.076.510

893.835

620.980

Total receivables

1.476.851

1.371.383

1.239.044

932.912

974.664

Liquid funds

269.034

284.943

435.550

647.706

648.518

Current assets

3.526.760

2.829.103

2.751.104

2.474.453

2.244.162

Total assets

3.714.990

3.036.733  

2.913.072   

    2.612.052

2.321.813

Issued capital

18.151

18.151

18.151

18.151

18.151

Other reserves

1.189.416

686.683

647.991

643.685

667.750

Total reserves

1.189.416

686.683

647.991

643.685

667.750

Total equity

1.207.567

704.834

666.142

661.836

685.901

Provisions

 

 

 

15.000

23.615

Long term interest yielding debt

1.500.000

1.500.000

2.119.949

1.823.261

1.430.281

Long term liabilities

1.500.000

1.500.000

2.119.949

1.823.261

1.430.281

Short term liabilities

1.007.423

831.899

126.981

111.955

182.016

Total short and long term liabilities

2.507.423

2.331.899

2.246.930

1.950.216

1.635.912

Total liabilities

3.714.990

3.036.733

2.913.072

2.612.052

2.321.813

 

 

Summary The total assets of the company increased with 22.34 % between 2012 and 2013.

 

Despite the assets growth, the non current assets decreased with -9.34 %.

 

The asset growth has mainly been financed by a Net Worth increase of 71.33 %. Debt, however, grew with 7.53 %.

 

In 2013 the assets of the company were 5.07 % composed of fixed assets and 94.93 % by current assets. The assets are being financed by an equity of 32.51 %, and total debt of 67.49 %.

 

The total assets of the company increased with 4.25 % between 2011 and 2012.

 

The total asset increase is retrievable in the fixed asset growth of 28.19 %.

 

The asset growth has mainly been financed by a Net Worth increase of 5.81 %. Debt, however, grew with 3.78 %.

 

In 2012 the assets of the company were 6.84 % composed of fixed assets and 93.16 % by current assets. The assets are being financed by an equity of 23.21 %, and total debt of 76.79 %.

 

 

 

 

 

 

Analysis

 

Branch (SBI)                              Wholesale trade (no motor vehicles and motorcycles) (46)

 

Region                                      Midden-Brabant

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Midden-Brabant 5737 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Midden-Brabant 108 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Midden-Brabant is normal

 

 

Publications

 

Filings               02-05-2013: De jaarrekening over 2011 (gebroken boekjaar) is gepubliceerd.

12-12-2012: De jaarrekening over 2012 (gebroken boekjaar) is gepubliceerd.

07-12-2010: De jaarrekening over 2010 (gebroken boekjaar) is gepubliceerd.

27-01-2010: De jaarrekening over 2009 (gebroken boekjaar) is gepubliceerd.

 

 

Functions          05-12-2013: Per 04-12-2013 is bestuurder Gerardus Adrianus Maria Maas uit functie getreden.

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.58.43

UK Pound

1

Rs.98.28

Euro

1

Rs.80.12

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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.