MIRA
INFORM REPORT
|
Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
FISCHLER DIAMONDS NV |
|
|
|
|
Registered Office : |
Schupstraat 21, 2018
Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.07.1969 |
|
|
|
|
Com. Reg. No.: |
406804241 |
|
|
|
|
Legal Form : |
Public Limited Liability |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALE OF
DIAMONDS AND OTHER PRECIOUS STONES |
|
|
|
|
No. of Employees |
7 |
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) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
406804241 |
|
Company name |
FISCHLER
DIAMONDS NV |
|
Address |
SCHUPSTRAAT
21 |
|
|
2018
ANTWERPEN |
|
Number of staff |
7 |
|
Date of establishment |
30/07/1
969 |
|
Telephone number |
032324660 |
|
Fax number |
032332974 |
Commentary
|
The business was established over 44 years ago. |
|
|
The business has 10 employees. |
|
|
The business has been at the address for over 10 years. |
|
|
Operating Result in the latest trading period decreased 24% on the
previous trading period. |
|
|
A 31% decline in Total Assets occurred during the latest trading
period. |
|
|
The business saw an increase in their Cash Balance of 500% during the
latest trading period. |
|
|
Turnover in the latest trading period decreased 32% on the previous
trading period. |
|
Accounts
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
47,148,259 |
278,652 |
10,066,129 |
10,278,155 |
|
31/12/2011 |
69,429,766 |
333,755 |
10,019,273 |
14,501,425 |
|
31/12/2010 |
58,939,992 |
323,817 |
9,944,774 |
14,330,870 |
Accounts
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
19,723,743 |
7 |
1,802,000 |
364,245 |
|
31/12/2011 |
28,726,778 |
7 |
1,802,000 |
410,591 |
|
31/12/2010 |
27,012,616 |
8 |
1,802,000 |
393,471 |
Trends
|
Profitability |
|
||
|
Liquidity |
t |
||
|
Net worth |
t |
||
|
Payment expectations |
|||
|
Past payments |
|
Payment expectation days |
8.75 |
|
Industry average payment |
165.24 |
Industry average day sales |
126.31 |
|
expectation days |
|
outstanding |
|
|
Day sales outstanding |
54.44 |
||
Court data summary
|
BANKRUPTCY DETAILS |
|
|
Court action type |
no |
|
PROTESTED BILLS |
|
|
Bill amount |
- |
|
NSSO DETAILS |
|
|
Date of summons |
- |
Company information
|
Business number Fax number Company status Currency Activity code Activity description Belgian Bullettin of Acts
Publications |
406804241 032332974 active Euro (€)
46761 Wholesale
of diamonds and other precious stones moniteur belge |
Company name Date founded Company type Date of latest accounts Liable for
VAT VAT Number |
FISCHLER DIAMONDS NV 30/07/1969 Public Limited Liability Company (BE) 31/12/2012 yes BE.0406.804.241 Check VAT number |
|
|
Contractor
details |
||||
|
Registered contractor number |
- |
|
|
|
|
Contractor
description |
- |
|
|
|
|
Date
struck off register |
||||
|
Social
Balance Sheet Details |
||||
|
|
||||
|
Social
Balance Sheet |
|
Total |
|
|
|
During the reporting year ended
31-12-2012 |
||||
|
Full-time
Employees |
|
4 |
|
|
|
Part-time
Employees |
|
7 |
|
|
|
Total Fte
Employees |
|
7 |
|
|
|
|
||||
|
Number of
hours worked |
||||
|
Full-time
Employees |
|
6,374 |
|
|
|
Part-time
Employees |
|
4,748 |
|
|
|
Total |
|
11,122 |
|
|
|
|
||||
|
Personnel
Charges |
||||
|
Full-time
Employees |
|
178,128 |
|
|
|
Part-time
Employees |
|
95,478 |
|
|
|
Total |
|
273,606 |
|
|
|
Benefits
In Addition To Wages |
- |
|
|
|
|
|
||||
|
During the
previous reporting year |
||||
|
Average
number employees in Fte |
7 |
|
|
|
|
Actual
working hours |
|
12,410 |
|
|
|
Personnel
Charges |
|
285,615 |
|
|
|
Benefits
In Addition To Wages |
- |
|
|
|
|
■ |
|
|
|
|
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
------------- K |
|
Unlimited Duration Contracts |
4 |
7 |
7 |
|
|
Limited Duration Contracts |
- |
- |
- |
|
|
Contracts For Specific Work |
- |
- |
- |
|
|
Contracts Regarding Substitution |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Gender and Education Level |
|
|
|
|
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary education |
1 |
- |
1 |
|
|
Secondairy education |
- |
1 |
0 |
|
|
Higher
education (non university) |
- |
- |
- |
|
|
Higher
education (university) |
- |
- |
- |
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary education |
- |
1 |
1 |
|
|
Secondairy education |
3 |
5 |
6 |
|
|
Higher
education (non university) |
- |
- |
- |
|
|
Higher
education (university) |
- |
- |
- |
|
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
------------- K |
|
Management |
- |
- |
- |
|
|
White collar worker |
2 |
6 |
5 |
|
|
Blue collar worker |
2 |
1 |
3 |
|
|
Other |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Temporary personnel |
|
Total |
|
|
|
Average number of temporary staff |
- |
|
|
|
|
Actual working hours |
|
- |
|
|
|
Cost of temporary staff |
|
- |
|
|
|
|
|
|
|
J |
|
|
||||
|
New staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
|
New Starters |
- |
- |
- |
|
|
Leavers |
- |
- |
- |
|
|
Total of formal continuing vocational training initiatives
for workers paid by the employer |
Male |
Female |
|
Numberof employees |
- |
- |
|
Numberof training hours |
- |
- |
|
Net costs for enterprise |
- |
- |
|
Total of less formal and informal continuing vocational
training initiatives for workers paid by the employer |
Male |
Female |
|
Numberof employees |
- |
- |
|
Numberof training hours |
- |
- |
|
Net costs for enterprise |
- |
- |
|
Total of
initial training initiatives at the expense of the employer |
Male |
Female |
|
Numberof employees |
- |
- |
|
Numberof training hours |
- |
- |
|
Net costs for enterprise |
- |
- |
Personnel (NSSO
classification)
Code -
Description FROM 10 TO 19
EMPLOYEES
Joint
Industrial Committee (JIC)
|
JIC Code |
218 |
|
Description |
Additional national joint committee for the
employees |
JIC Code 324.02
Description JSC small merchandisers in the diamant industry and
trade
Significant
Events
|
Event Date |
15/12/2011 |
|
Event Description |
|
|
Event Details |
De 316 aandelen aan
toonderworden omgezet in aandelen op naam. De aandelen een toonder worden
vernietigd. |
Profit & loss
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
47,148,259 |
-32.09 |
69,429,766 |
17.80 |
58,939,992 |
46,485,458 |
1.43 |
|
Total
operating expenses |
46,556,218 |
-32.18 |
68,644,247 |
18.04 |
58,154,716 |
46,114,879 |
0.96 |
|
Operating
result |
592,041 |
-24.63 |
785,519 |
0.03 |
785,276 |
141,119 |
319 |
|
Total
financial income |
8,573 |
-79.39 |
41,589 |
3602 |
1,123 |
98,884 |
-91.33 |
|
Total financial
expenses |
321,963 |
-34.74 |
493,354 |
6.65 |
462,582 |
206,523 |
55.90 |
|
Results on ordinary operations
before taxation |
278,652 |
-16.51 |
333,755 |
3.07 |
323,817 |
25,299 |
1001 |
|
Taxation |
957 |
-90.64 |
10,221 |
64.05 |
6,230 |
20,807 |
-95.40 |
|
Results on ordinary operations after taxation |
277,695 |
-14.17 |
323,534 |
1.87 |
317,587 |
10,494 |
2546 |
|
Extraordinary
items |
3,605 |
-58.45 |
8,676 |
87.84 |
4,619 |
-3,973 |
90.74 |
|
Other
appropriations |
0 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result OTHER INFORMATION |
281,300 |
-15.32 |
332,210 |
3.10 |
322,206 |
6,539 |
4201 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
56,922 |
- |
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director
remuneration |
- |
- |
81,693 |
-0.32 |
81,955 |
112,544 |
- |
|
Employee
costs |
273,606 |
-4.20 |
285,615 |
2.75 |
277,963 |
125,946 |
117 |
|
Wages and salary |
213,853 |
-5.80 |
227,011 |
2.96 |
220,480 |
1 05,550 |
102 |
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social security contributions |
49,534 |
-0.65 |
49,858 |
3.67 |
48,091 |
26,656 |
85.83 |
|
Other employee costs |
10,219 |
16.84 |
8,746 |
-6.87 |
9,391 |
4,349 |
134 |
|
Amortization
and depreciation |
82,945 |
5.82 |
78,381 |
9.98 |
71,265 |
17,831 |
365 |
balance sheet
|
Annual
accounts |
31-12-2012 |
|
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
15,681 |
- |
21,237 |
- |
13,526 |
1,573 |
896 |
|
Tangible
fixed assets |
892,428 |
-5.35 |
942,837 |
0.42 |
938,909 |
184,117 |
384 |
|
Land & building |
795,550 |
-2.93 |
819,549 |
-2.85 |
843,548 |
362,988 |
119 |
|
Plant & machinery |
32,842 |
27.39 |
25,781 |
-11.18 |
29,027 |
22,615 |
45.22 |
|
Furniture & Vehicles |
64,036 |
-34.33 |
97,507 |
46.99 |
66,334 |
17,295
5,364 |
270 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
142,153
32,369 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
7,596 |
-100 |
|
Financial
fixed assets |
17,521 |
0.00 |
17,521 |
0 |
17,521 |
306,761 |
-94.29 |
|
Total
fixed assets |
925,629 |
-5.70 |
981,595 |
1.20 |
969,955 |
394,708 |
134 |
|
Inventories |
10,740,487 |
-33.78 |
16,218,317 |
64.63 |
9,851,526 |
3,105,524 |
245 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,387 |
-100 |
|
Finished goods |
1
0,740,487 |
-33.78 |
16,218,317 |
64.63 |
9,851,526 |
1,996,655 |
437 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
569,977 |
-100 |
|
Trade
debtors |
7,032,175 |
-37.35 |
11,224,590 |
-24.34 |
14,836,321 |
4,243,347 |
65.72 |
|
Cash |
932,335 |
500 |
155,277 |
-84.82 |
1,023,112 |
227,473 |
309 |
|
other
amounts receivable |
67,673 |
-48.71 |
131,949 |
-57.03 |
307,100 |
209,176 |
-67.65 |
|
Miscellaneous
current assets |
25,444 |
69.07 |
15,050 |
-38.83 |
24,602 |
18,254 |
39.39 |
|
Total
current assets |
18,798,114 |
-32.25 |
27,745,183 |
6.54 |
26,042,661 |
7,328,597 |
156 |
|
Total
Assets |
19,723,743 |
-31.34 |
28,726,778 |
6.35 |
27,012,616 |
7,683,424
1,454,122 |
156 |
|
CURRENT LIABILITIES |
|||||||
|
Trade creditors |
1,116,060 |
-82.32 |
6,311,423 |
110 |
3,001,410 |
3,148,030 |
-64.55 |
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
7,032,761 |
7.44 |
6,545,778 |
-19.80 |
8,161,329 |
4,280,807 189,666 |
64.29 |
|
Current portion of long term debt |
63,494 |
5.35 |
60,269 |
5.35 |
57,209 |
110,204 15,373 |
-42.39 |
|
Amounts Payable for Taxes, Remuneration & Social
Security |
52,351 |
5.23 |
49,749 |
-2.53 |
51,038 |
9,740- |
53.83 |
|
Miscellaneous current liabilities |
255,293 |
-7.68 |
276,539 |
-37.26 |
440,805 |
-14.32 |
- - |
|
Total current liabilities |
8,519,959 |
-35.67 |
13,243,758 |
13.08 |
11,711,792 |
5,462,976 |
55.96 |
|
LONG TERM DEBTS AND LIABILITIES |
|||||||
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other long term loans |
1,121,975 |
-79.38 |
5,442,510 |
1.87 |
5,342,525 |
0.72 |
- - |
|
Deffered taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
Provisions for Liabilities &
Charges |
0 |
-0 |
-0 |
3,168 0 |
-100 |
||
|
Other long term liabilities |
-1 |
-0 |
-0 |
128,026 |
-100 |
||
|
Total long term debts |
1,121,974 |
-79.38 |
5,442,510 |
1.87 |
5,342,525 |
562,804 |
99 |
|
SHAREHOLDERS EQUITY |
|||||||
|
Issued share capital |
1,802,000 |
0.00 |
1,802,000 |
0 |
1,802,000 |
967,968 |
86.16 |
|
Share premium account |
- |
- |
- |
- |
- |
109,362 |
- |
|
Reserves |
8,279,810 |
0.50 |
8,238,510 |
1.01 |
8,156,300 |
654,096 |
1165 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total shareholders equity |
10,081,810 |
0.41 |
10,040,510 |
0.83 |
9,958,300 |
1,651,582 |
510 |
|
Working capital |
10,278,155 |
-29.12 |
14,501,425 |
1.19 |
14,330,870 |
1,865,621 |
450 |
|
Cashflow |
364,245 |
-11.29 |
410,591 |
4.35 |
393,471 |
21,288 |
1611 |
|
Net worth |
10,066,129 |
0.47 |
10,019,273 |
0.75 |
9,944,774 |
1,648,350 |
510 |
Ratio analysis
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry
average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
0.59 |
22.92 |
0.48 |
-12.73 |
0.55 |
-29,00 |
2.03 |
|
Return on capital employed |
2.49 |
15.28 |
2.16 |
1.89 |
2.12 |
29,00 |
-91.41 |
|
Return on total assets employed |
1.41 |
21.55 |
1.16 |
-3.33 |
1.20 |
-200,00 |
0.70 |
|
Return on net assets employed |
2.76 |
-16.87 |
3.32 |
2.15 |
3.25 |
19,00 |
-85.47 |
|
Sales / net working capital |
4.59 |
-4.18 |
4.79 |
16.55 |
4.11 |
44,00 |
-99 |
|
Stock turnover ratio |
22.78 |
-2.48 |
23.36 |
39.80 |
16.71 |
116,00 |
-80.36 |
|
Debtor days |
54.44 |
-7.74 |
59.01 |
-35.77 |
91.88 |
143,00 |
-61.93 |
|
Creditor days SHORT TERM STABILITY |
8.75 |
-73.93 |
33.56 |
78.13 |
18.84 |
125,00 |
-93.00 |
|
Current ratio |
2.21 |
5.74 |
2.09 |
-5.86 |
2.22 |
6,00 |
-75.44 |
|
Liquidity ratio / acid ratio |
0.95 |
9.20 |
0.87 |
-36.96 |
1.38 |
4,00 |
-76.25 |
|
Current debt ratio |
0.85 |
-35.61 |
1.32 |
11.86 |
1.18 |
9,00 |
-90.56 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
81.52 |
-32.07 |
120 |
-11.88 |
136.18 |
357,00 |
-77.17 |
|
Equity in percentage |
51.16 |
46.26 |
34.98 |
-5.15 |
36.88 |
-3.192,00 |
1.60 |
|
Total debt ratio |
0.96 |
-48.39 |
1.86 |
8.77 |
1.71 |
11,00 |
-91.27 |
Industry comparison
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and other precious stones |
|
industry average credit rating |
64.48 |
|
Industry average credit limit |
140177.31 |
|
Payment Information |
|
|
Suspension of payments /
moratorium history |
|
|
Amount |
- |
|
Details |
- |
|
Payment expectations |
|
|
Payment expectation days |
8.75 |
|
Day sales outstanding |
54.44 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and other precious stones |
|
Industry
average payment expectation days |
165.24 |
|
Industry
average day sales outstanding |
126.31 |
Industry quartile analysis
|
Payment expectations |
|
|
Company result |
8.75 |
|
Lower |
134.13 |
|
Median |
84.97 |
|
Upper |
45.81 |
Industry
quartile analysis
|
Payment expectations |
|
|
Company result |
8.75 |
|
Lower |
134.13 |
|
Median |
84.97 |
|
Upper |
45.81 |
|
Day sales outstanding |
|
|
Company result |
54.44 |
|
Lower |
110.17 |
|
Median |
59.01 |
Shareholder Details
Summary
Group - Number of Companies Linkages
- Number of Companies Number of Countries
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Linked companies
Group - Number of Companies --
Linkages - Number of
Companies --
Number of countries --
Court data
|
Protested bills |
||
|
Drawee name |
- |
|
|
Address |
- |
|
|
Bill amount |
- |
|
|
Bill currency |
- |
|
|
Maturity of bill |
- |
|
|
Name of drawer |
- |
|
|
City of drawer |
- |
|
|
NSSO details |
||
|
Business number |
406804241 |
|
|
Name of defendant |
- |
|
|
Legal form of defendant |
- |
|
|
Date of summons |
- |
|
|
Labour court |
- |
|
Bankruptcy data
There is no
bankruptcy data against this company
Bankruptcy
Data
Court data
there is no data for this company
Director
details
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.05 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.