|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
VLASVEZELBEDRIJF LÉON VANDECASTEELEENTREPRISE LINIÈRE LÉON
VANDECASTEELE NV |
|
|
|
|
Registered Office : |
Izegemsestraat 71,
8860 Lendelede |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.10.2013 |
|
|
|
|
Date of Incorporation : |
01.10.1972 |
|
|
|
|
Com. Reg. No.: |
412691052 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company (BE) |
|
|
|
|
Line of Business : |
Preparation
and spinning of textile fibres |
|
|
|
|
No. of Employees : |
14 |
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 |
|
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 |
Business number 412691052
Company name VLASVEZELBEDRIJF
LÉON VANDECASTEELEENTREPRISE LINIÈRE LÉON VANDECASTEELE NV
Address IZEGEMSESTRAAT 71
8860 LENDELEDE
Number of staff 14
Date of establishment
01/10/1972
Telephone number 05130 06 56
Fax number 051302251
The business was
established over 41 years ago.
The business has
15 employees.
The business has
been at the address for over 23 years.
Operating Result
in the latest trading period increased 61% on the previous trading period.
The business saw an increase in their Cash Balance of 40% during the
latest trading period.
Accounts
|
DATE
OF LATEST ACCOUNTS |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/10/2013 |
100,335
|
2,127,592 |
1,701,014 |
|
31/10/2012 |
110,352
|
2,055,217 |
1,556,582 |
|
31/10/2011 |
166,953
|
1,971,813 |
1,413,887 |
Accounts
|
DATE
OF LATEST ACCOUNTS
|
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/10/2013
|
3,646,951 |
14
|
220,000 |
181,463 |
|
31/10/2012
|
3,588,767 |
15
|
220,000 |
235,151 |
|
31/10/2011
|
3,294,615 |
15
|
220,000 |
260,232 |
|
Payment expectations |
|
||
|
Past payments |
Payment expectation
days |
- |
|
|
Industry average payment expectation days 70.85 |
Industry average day sales outstanding |
68.87 |
|
Court data summary
BANKRUPTCY DETAILS
Court action type no
PROTESTED BILLS
Bill amount -
NSSO DETAILS
Date of summons
–
|
Business number |
412691052 |
Company name |
VLASVEZELBEDRIJF
LEON VANDECASTEELE-ENTREPRISE LINIERE LEON VANDECASTEELE NV |
|
Fax number |
051302251 |
Date founded |
01/10/1972 |
|
Company status |
active |
Company type |
Public
Limited Liability Company (BE) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/10/2013 |
|
Activity code |
13100 |
Liable for VAT |
yes |
|
Activity description |
Preparation
and spinning of textile fibres |
VAT Number |
BE.0412.691.052
Check VAT number |
|
Belgian Bullettin of Acts Publications |
moniteur belge |
|
|
Social Balance
Sheet Total
During the
reporting year ended 31-10-2013
Full-time
Employees 14
Part-time
Employees 1
Total
Fte Employees 15
Number of hours worked
Full-time
Employees 21,210
Part-time
Employees 32
Total 21,242
Personnel Charges
Full-time
Employees 594,212
Part-time
Employees 868
Total 595,080
Benefits
In Addition To Wages -
During the previous
reporting year
Average
number employees in Fte 16
Actual
working hours 21,454
Personnel
Charges 599,714
Benefits
In Addition To Wages -
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
13 |
1 |
14 |
|
Limited Duration Contracts |
1 |
- |
1 |
|
Contracts For Specific Work |
- |
- |
- |
|
Contracts Regarding Substitution |
- |
- |
- |
|
|
|||
|
|
|||
|
Gender and
Education Level |
|||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
14 |
1 |
15 |
|
Secondairy education |
- |
- |
- |
|
Higher education
(non university) |
- |
- |
- |
|
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 |
1 |
- |
1 |
|
Blue collar worker |
13 |
1 |
14 |
|
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 |
2 |
- |
2 |
|
Leavers |
2 |
- |
2 |
Total of formal
continuing vocational training initiatives
for workers paid
by the employer Male
Female
Number of
employees 14 -
Number of training
hours 28 -
Net costs for enterprise 1,403 –
Joint
Industrial Committee (JIC)
|
JIC
Code |
120 |
|
Description |
Joint committee for the textile industry
and knitting |
JIC Code 214
Description JC for the employees
in the textile industry and the knitting
Significant Events
Event Date 01/04/2011
Event Description re-appointment of
director(s)
Event Details Commentaar
01-04-2011: Herbenoemd als bestuurder tot 01.04.2017: CVA Leon
Vandecasteele management & Co-VDC Holding (tevens als voorzitter van
de raad van
bestuur en gedelegeerd bestuurder), De Wittte Beatrice, Vandecasteele
Wim en Vandeca
Event Date 01/04/2011
Event Description re-appointment of
director(s)
Event Details steele Katrien.
|
Annual
accounts |
31-10-2013 |
% |
31-10-2012 |
% |
31-10-2011 |
Industry
average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
- |
- |
- |
- |
- |
25,262,259 |
- |
|
Total operating
expenses |
- |
- |
- |
- |
- |
24,141,991 |
- |
|
Operating
result |
214,239 |
61.31 |
132,814 |
-41.32 |
226,319 |
301,291 |
-28.89 |
|
Total
financial income |
31,034 |
-58.74 |
75,210 |
296 |
1 8,980 |
426,663 |
-92.73 |
|
Total financial
expenses |
144,938 |
48.39 |
97,673 |
24.67 |
78,347 |
307,202 |
-52.82 |
|
Results on ordinary operations
before taxation |
100,335 |
-9.08 |
11 0,352 |
-33.90 |
166,953 |
390,970 |
-74.34 |
|
Taxation |
27,960 |
3.76 |
26,947 |
-40.78 |
45,501 |
20,242 |
38.13 |
|
Results on ordinary operations after taxation |
72,375 |
-13.22 |
83,404 |
-31.33 |
121,451 |
375,888 |
-80.75 |
|
Extraordinary
items |
0 |
- |
0 |
- |
0 |
48,506 |
-100 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result OTHER INFORMATION |
72,375 |
-13.22 |
83,404 |
-31.33 |
121,451 |
424,880 |
-82.97 |
|
Gross
Operating Margin |
947,019 |
4.65 |
904,944 |
-12.34 |
1,032,336 |
231,708 |
308 |
|
Dividends |
- |
- |
- |
- |
- |
568,733 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
241,576 |
- |
|
Employee
costs |
595,080 |
-0.77 |
599,714 |
-7.06 |
645,279 |
1,910,324 |
-68.85 |
|
Wages and salary |
435,732 |
-0.26 |
436,854 |
5.69 |
413,326 |
1,336,263 |
-67.39 |
|
Employee pension costs |
- |
- |
- |
- |
- |
21,082 |
- |
|
Social security contributions |
159,348 |
-2.16 |
162,860 |
-1.47 |
165,287 |
570,258 |
-72.06 |
|
Other employee costs |
0 |
- |
0 |
-100 |
66,665 |
74,407 |
-100 |
|
Amortization
and depreciation |
109,088 |
-28.11 |
1 51,747 |
9.34 |
1 38,781 |
255,350 |
-57.28 |
|
Annual accounts |
31-10-2013 |
% |
31-10-2012 |
% |
31-10-2011 |
Industry
average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
27,179 |
-100 |
|
Tangible
fixed assets |
426,330 |
-14.46 |
498,387 |
-10.63 |
557,678 |
674,754 |
-36.82 |
|
Land & building |
354,378 |
-1.92 |
361,327 |
-0.15 |
361,855 |
440,070 |
-19.47 |
|
Plant & machinery |
8,873 |
-83.50 |
53,772 |
-58.92 |
130,900 |
235,292 |
-96.23 |
|
Furniture & Vehicles |
63,079 |
-24.21 |
83,227 |
28.56 |
64,740 |
85,883 22,178 |
-26.55 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
389,458
27,371 |
- |
|
Other tangible assets |
0 |
-100 |
61 |
-66.67 |
183 |
56,315 |
-100 |
|
Financial
fixed assets |
248 |
0 |
248 |
0 |
248 |
8,727,470 |
-99 |
|
Total
fixed assets |
426,578 |
-14.45 |
498,635 |
-10.63 |
557,926 |
5,214,344 |
-91.82 |
|
Inventories |
1,704,031 |
38.07 |
1,234,174 |
1.20 |
1,219,487 |
2,520,718 |
-32.40 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
1,741,414 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
522,143 |
-100 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
571,735 |
-100 |
|
Other stocks |
1,704,031 |
38.07 |
1,234,174 |
1.20 |
1,219,487 |
180,441 |
844 |
|
Trade
debtors |
426,371 |
-60.50 |
1,079,551 |
-15.76 |
1,281,486 |
791,824 |
-46.15 |
|
Cash |
992,703 |
40.47 |
706,698 |
214 |
224,852 |
483,627 |
105 |
|
other
amounts receivable |
96,226 |
38.04 |
69,709 |
541 |
10,864 |
217,449 |
-55.75 |
|
Miscellaneous
current assets |
1,043 |
- |
0 |
- |
0 |
472,310 |
-99 |
|
Total
current assets |
3,220,374 |
4.21 |
3,090,132 |
12.91 |
2,736,689 |
3,546,837 |
-9.20 |
|
Total
Assets |
3,646,951 |
1.62 |
3,588,767 |
8.93 |
3,294,615 |
8,249,971
1,366,895 |
-55.79 |
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
Trade creditors |
1,062,231 |
-0.59 |
1,068,534 |
6.03 |
1,007,731 |
1,048,728 |
1.29 |
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
- |
- |
- |
- |
- |
1,806,549 240,001 |
- |
|
Current portion of long term debt |
- |
- |
- |
- |
- |
1,110,059 52,635 |
- |
|
Amounts Payable for Taxes, Remuneration & Social Security |
84,016 |
-22.13 |
107,889 |
33.69 |
80,704 |
29,968 - |
-79.23 |
|
Miscellaneous current liabilities |
373,112 |
4.48 |
357,127 |
52.38 |
234,367 |
-38.09 |
- |
|
Total current liabilities |
1,519,360 |
-0.93 |
1,533,550 |
15.93 |
1,322,802 |
2,908,799 |
-47.77 |
|
LONG TERM DEBTS AND
LIABILITIES |
|
|
|
|
|
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Other long term loans |
- |
- |
- |
- |
- |
- |
- |
|
Deffered taxes |
- |
- |
- |
- |
- |
37,478 12,368 |
- |
|
Provisions for Liabilities &
Charges |
0 |
- |
0 |
- |
0 |
45,263 0 |
-100 |
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
43,559 |
-100 |
|
Total long term debts |
0 |
- |
0 |
- |
0 |
2,207,227 |
-100 |
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
Issued share capital |
220,000 |
0 |
220,000 |
0 |
220,000 |
2,114,461 |
-89.60 |
|
Share premium account |
187,531 |
0 |
187,531 |
0 |
187,531 |
995,836 |
-81.17 |
|
Reserves |
1,720,060 |
4.39 |
1,647,685 |
5.33 |
1,564,281 |
960,495 |
79.08 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
10,467 |
- |
|
Total shareholders equity |
2,127,592 |
3.52 |
2,055,217 |
4.23 |
1,971,813 |
3,133,945 |
-32.11 |
|
Working capital |
1,701,014 |
9.28 |
1,556,582 |
10.09 |
1,413,887 |
638,038 |
166 |
|
Cashflow |
181,463 |
-22.83 |
235,151 |
-9.64 |
260,232 |
625,154 |
-70.97 |
|
Net worth |
2,127,592 |
3.52 |
2,055,217 |
4.23 |
1,971,813 |
3,106,766 |
-31.52 |
|
Annual accounts |
31-10-2013 |
change(%) |
31-10-2012 |
change(%) |
31-10-2011 |
Industry average 2013 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
- |
- |
- |
- |
- |
4,00 |
- |
|
Return on capital employed |
4.72 |
-12.10 |
5.37 |
-36.60 |
8.47 |
7,00 |
-32.57 |
|
Return on total assets employed |
2.75 |
-10.42 |
3.07 |
-39.45 |
5.07 |
3,00 |
-8.33 |
|
Return on net assets employed |
4.72 |
-12.10 |
5.37 |
-36.60 |
8.47 |
8,00 |
-41.00 |
|
Sales /
net working capital |
- |
- |
- |
- |
- |
14,00 |
- |
|
Stock
turnover ratio |
- |
- |
- |
- |
- |
15,00 |
- |
|
Debtor
days |
- |
- |
- |
- |
- |
61,00 |
- |
|
Creditor
days SHORT TERM
STABILITY |
|
|
|
|
|
519,00 |
|
|
Current
ratio |
2.12 |
4.95 |
2.02 |
-2.42 |
2.07 |
15,00 |
112 |
|
Liquidity
ratio / acid ratio |
1 |
-17.36 |
1.21 |
5.22 |
1.15 |
14,00 |
-92.86 |
|
Current
debt ratio |
0.71 |
-5.33 |
0.75 |
11.94 |
0.67 |
1,00 |
-29.00 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM
STABILITY |
|
|
|
|
|
|
|
|
Gearing |
- |
- |
- |
- |
- |
108,00 |
- |
|
Equity in
percentage |
58.34 |
1.87 |
57.27 |
-4.31 |
59.85 |
19,00 |
207 |
|
Total debt
ratio |
0.71 |
-5.33 |
0.75 |
11.94 |
0.67 |
2,00 |
-64.50 |
|
Industry
comparison |
|
|
Activity
code |
13100 |
|
Activity
description |
Preparation
and spinning of textile fibres |
|
Industry
comparison |
|
|
Activity
code |
13100 |
|
Activity
description |
Preparation
and spinning of textile fibres |
|
Industry
average payment |
70.85 |
|
expectation
days |
|
|
Industry
average day sales |
68.87 |
|
outstanding |
|
|
Industry
quartile analysis |
|
|
Payment expectations |
|
|
Company
result |
- |
|
Lower |
91.05 |
|
Median |
58.56 |
|
Upper |
33.68 |
|
Day
sales outstanding |
|
|
Company
result |
- |
|
Lower |
72.92 |
|
Median |
37.43 |
|
Upper |
23.90 |
Group
Structure
No group
structure for this company.
Minority
Shareholders
No
minority shareholders found
Minority
Interests
No
minority interests found
|
NSSO
details |
||
|
Business
number |
412691052 |
|
|
Name of
defendant |
- |
|
|
Legal
form of defendant |
- |
|
|
Date of
summons |
- |
|
|
Bankruptcy
details |
|
There is
no bankruptcy data against this company |
court data
there is
no data for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
|
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.