|
Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
EURO OVERSEAS EN TRADING BVBA |
|
|
|
|
Registered Office : |
Lange Gang 12-Bus 1, 2000 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
19.07.1999 |
|
|
|
|
Com. Reg. No.: |
466481611 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Iron and
Steel Scrap and Old Non-Ferro Metals |
|
|
|
|
No of Employees : |
02 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A2 |
|
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 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 466481611
Company name EURO OVERSEAS EN
TRADING BVBA
Address LANGE GANG 12-BUS 1
2000 ANTWERPEN
Number of staff 2
Date of establishment 19/07/1999
Telephone number 032030562
The business was
established over 15 years ago.
The business has 2
employees.
The business has
been at the address for over 6 years.
Operating Result in
the latest trading period decreased 46% on the previous trading period.
Pre-tax profits
increased by 876% compared to the previous trading period.
The business saw a
decrease in their Cash Balance of 35% during the latest trading period.
|
Accounts |
||||
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET
WORTH |
WORKING
CAPITAL |
|
31/12/2013 |
|
291,271 |
181,505 |
191,649 |
|
31/12/2012 |
|
29,817 |
150,490 |
158,645 |
|
31/12/2011 |
|
10,544 |
150,239 |
164,661 |
|
|
|
|
|
|
|
Accounts |
||||
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
2,480,337 |
2 |
18,592 |
52,385 |
|
31/12/2012 |
2,862,273 |
2 |
18,592 |
19,026 |
|
31/12/2011 |
2,113,907 |
3 |
18,592 |
26,048 |
|
Payment expectations |
||||
|
Past payments |
|
Payment expectation days |
-- |
|
|
Industry average payment expectation days |
72.94 |
Industry average day sales outstanding |
117.36 |
|
|
Day sales outstanding |
-- |
|
|
|
|
Court data summary |
||||
|
BANKRUPTCY DETAILS |
||||
|
Court action type |
no |
|
|
|
|
PROTESTED BILLS |
||||
|
Bill amount |
||||
|
NSSO DETAILS |
||||
|
Date of summons |
17/01/2011 |
|
|
|
|
Business number |
466481611 |
Company name |
EURO OVERSEAS EN TRADING
BVBA |
|
|
Fax number |
|
Date founded |
19/07/1999 |
|
|
Company status |
Active |
Company type |
Private Limited Company
(BL/LX) |
|
|
Currency |
Euro (€) |
Date of latest accounts |
31/12/2013 |
|
|
Activity code |
46772 |
Liable for VAT |
Yes |
|
|
Activity description |
Wholesale of
Iron and Steel Scrap and Old Non-Ferro Metals |
VAT Number |
BE.0466.481.611
Check VAT number |
|
|
Belgian Bullettin of Acts Publications |
moniteur
belge |
|
|
|
|
Social Balance Sheet |
Total |
|
|
During the reporting year ended 31-12-2013 |
|
|
|
Full-time Employees |
2 |
|
|
Part-time Employees |
1 |
|
|
Total Fte Employees |
3 |
|
|
|
||
|
Number of hours worked |
|
|
|
Full-time Employees |
3,405 |
|
|
Part-time Employees |
1,386 |
|
|
Total |
4,791 |
|
|
|
||
|
Personnel Charges |
||
|
Full-time Employees |
90,060 |
|
|
Part-time Employees |
36,659 |
|
|
Total |
126,718 |
|
|
Benefits In Addition To
Wages |
- |
|
|
|
||
|
During the previous reporting year |
|
|
|
Average number employees in Fte |
3 |
|
|
Actual working hours |
3,891 |
|
|
Personnel Charges |
105,619 |
|
|
Benefits In Addition To
Wages
-- |
||
Type of Contract Full-Time
Part-Time Total Fte
Unlimited Duration 2 1 3
Contracts
Higher education
(university) Full-Time Part-Time Total Fte
1
- 1
Women Full-Time
Part-Time Total Fte
Primary education 1 - 1
Working Category Full-Time
Part-Time Total Fte
Management - - -
White collar worker 2 - 2
Blue collar worker 1 – 1
JOINT INDUSTRIAL COMMITTEE (JIC)
JIC Code 100
Description Additional joint
committee for labourers
Category
JIC Code 218
Description Additional national
joint committee for the employees
Category
PROFIT & LOSS
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
- |
- |
- |
- |
- |
16,390,810 |
- |
|
Total operating expenses |
- |
- |
- |
- |
- |
16,153,831 |
- |
|
Operating result |
74,332 |
-46.08 |
137,858 |
32.38 |
104,136 |
138,186 |
-46.21 |
|
Total financial income |
446,287 |
79.05 |
249,254 |
-73.46 |
939,173 |
30,391 |
1368 |
|
Total financial expenses |
229,348 |
-35.81 |
357,295 |
-65.40 |
1,032,765 |
46,992 |
388 |
|
Results on ordinary
operations before taxation |
291,271 |
876 |
29,817 |
182 |
10,544 |
119,624 |
143 |
|
Taxation |
22,760 |
65.91 |
13,718 |
17.67 |
11,658 |
47,920 |
-52.50 |
|
Results on ordinary
operations after taxation |
268,511 |
1567 |
16,099 |
1445 |
-1,114 |
80,642 |
232 |
|
Extraordinary items |
-237,496 |
-1398 |
15,848 |
-328 |
6,921 |
313,412 |
-175 |
|
Other appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result |
31,015 |
12248 |
251 |
95.67 |
5,807 |
393,729 |
-92.12 |
|
OTHER INFORMATION—12 |
|||||||
|
Gross Operating Margin |
214,615 |
-20.94 |
271,452 |
-37.61 |
435,074 |
291,512 |
-26.38 |
|
Dividends |
- |
- |
- |
- |
- |
541,473 |
- |
|
Director remuneration |
- |
- |
- |
- |
- |
107,715 |
- |
|
Employee costs |
126,718 |
19.98 |
105,619 |
9.62 |
96,351 |
436,245 |
-70.95 |
|
Wages and salary |
99,566 |
17.92 |
84,433 |
3.91 |
81,255 |
309,515 |
-67.83 |
|
Employee pension costs |
- |
- |
- |
- |
- |
431 |
- |
|
Social security
contributions |
23,219 |
22.72 |
18,920 |
12.21 |
16,860 |
112,243 |
-79.31 |
|
Other employee costs |
3,933 |
73.57 |
2,266 |
128 |
-1,764 |
22,190 |
-82.27 |
|
Amortization and depreciation |
21,369 |
13.82 |
18,775 |
-7.24 |
20,241 |
127,942 |
-83.30 |
BALANCE SHEET
|
Annual accounts |
31-122013 |
% |
31-122012 |
% |
31-122011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed
assets |
0 |
- |
0 |
- |
0 |
61,443 |
-100 |
|
Tangible
fixed assets |
118,027 |
0.09 |
117,920 |
-12.72 |
135,103 |
575,547 |
-79.49 |
|
Land & building |
82,187 |
-6.82 |
88,198 |
-6.38 |
94,209 |
460,810 |
-82.16 |
|
Plant & machinery |
317 |
-50.0 |
633 |
-34.60 |
968 |
197,100 |
-99 |
|
Furniture & Vehicles |
35,524 |
22.12 |
29,089 |
-19.88 |
36,308 |
78,536
20,605 |
-54.77 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
3,618 |
196,400 94,517 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
23,896 |
-100 |
|
Financial
fixed assets |
86,346 |
0 |
86,346 |
-2.33 |
88,406 |
2,970,802 |
-97.09 |
|
204,373 |
0.05 |
204,266 |
-8.61 |
223,510 |
2,394,123 |
-91.46 |
|
|
60,713 |
68.23 |
36,089 |
44.07 |
25,050 |
599,399 |
-89.87 |
|
|
Raw materials & consumables |
- |
- |
- |
- |
- |
1,478,163 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
10,939 |
-100 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
124,605 |
-100 |
|
Other stocks |
60,713 |
68.23 |
36,089 |
44.07 |
25,050 |
185,818 |
-67.33 |
|
Trade
debtors |
1,961,489 |
-12.37 |
2,238,387 |
63.53 |
1,368,754 |
576,214 |
240 |
|
Cash |
242,457 |
-35.25 |
374,479 |
-22.20 |
481,358 |
364,435 |
-33.47 |
|
other
amounts receivable |
6,142 |
-32.14 |
9,052 |
-36.50 |
14,254 |
209,309 |
-97.07 |
|
Miscellaneous
current assets |
5,162 |
- |
0 |
-100 |
982 |
94,708 |
-94.55 |
|
Total
current assets |
2,275,963 |
-14.37 |
2,658,006 |
40.61 |
1,890,397 |
1,658,146 |
37.26 |
|
Total
Assets |
2,480,337 |
-13.34 |
2,862,273 |
35.40 |
2,113,907 |
3,940,626 890,078 |
-37.06 |
CURRENT LIABILITIES
|
Trade
creditors |
1,546,454 |
-27.51 |
2,133,233 |
44.77 |
1,473,566 |
552,075 |
180 |
|
Short term
group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
- |
- |
- |
- |
- |
615,283
109,702 |
- |
|
Current
portion of long term debt |
328,884 |
1189 |
25,511 |
-8.92 |
28,009 |
261,065 46,809 |
25.98 |
|
Amounts Payable for Taxes,
Remuneration & Social Security |
41,917 |
61.28 |
25,990 |
13.99 |
22,801 |
21,294 - |
-46.37 |
|
Miscellaneous current
liabilities |
167,060 |
-46.90 |
314,627 |
56.25 |
201,360 |
-50.32 |
- - |
|
Total
current liabilities |
2,084,314 |
-16.61 |
2,499,362 |
44.83 |
1,725,736 |
1,285,167 |
62.18 |
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Other long
term loans |
214,518 |
24.70 |
172,033 |
-12.91 |
197,544 |
-81.37 |
- - |
|
Deffered
taxes Provisions
for Liabilities & Charges |
0 |
-100 |
40,388 |
0 |
40,388 |
42,004
24,851 61,441 0 |
-100 |
|
Other long
term liabilities |
0 |
- |
0 |
- |
0 |
25,899 |
-100 |
|
Total long
term debts |
214,518 |
0.99 |
212,421 |
-10.72 |
237,932 |
659,989 |
-67.50 |
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
Issued
share capital |
18,592 |
0 |
18,592 |
0 |
18,592 |
245,499 |
-92.43 |
|
Share
premium account |
- |
- |
- |
- |
- |
8,024 |
- |
|
Reserves |
162,913 |
23.51 |
131,898 |
0.19 |
131,647 |
1,745,340 |
-90.67 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
105,674 |
- |
|
Total shareholders
equity |
181,505 |
20.61 |
150,490 |
0.17 |
150,239 |
1,995,469 |
-90.90 |
|
Working
capital |
191,649 |
20.80 |
158,645 |
-3.65 |
164,661 |
372,978 |
-48.62 |
|
Cashflow |
52,385 |
175 |
19,026 |
-26.96 |
26,048 |
512,390 |
-89.78 |
|
Net worth |
181,505 |
20.61 |
150,490 |
0.17 |
150,239 |
1,934,026 |
-90.62 |
RATIO ANALYSIS
|
Annual accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry average 2013 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before
Tax |
- |
- |
- |
- |
- |
-7,00 |
- |
|
Return on
capital employed |
73.55 |
794 |
8.22 |
202 |
2.72 |
-3.962,00 |
1.86 |
|
Return on
total assets employed |
11.74 |
1028 |
1.04 |
108 |
0.50 |
2,00 |
487 |
|
Return on
net assets employed |
160.48 |
710 |
19.81 |
182 |
7.02 |
-3.974,00 |
4.04 |
|
Sales / net
working capital |
- |
- |
- |
- |
- |
-6,00 |
- |
|
Stock
turnover ratio |
- |
- |
- |
- |
- |
13,00 |
- |
|
Debtor days |
- |
- |
- |
- |
- |
117,36 |
- |
|
Creditor
days |
- |
- |
- |
- |
- |
72,94 |
- |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
Current
ratio |
1.09 |
2.83 |
1.06 |
-3.64 |
1.10 |
6,00 |
-98.42 |
|
Liquidity
ratio / acid ratio |
1.06 |
0.95 |
1.05 |
-2.78 |
1.08 |
5,00 |
-78.80 |
|
Current
debt ratio |
11.48 |
-30.89 |
16.61 |
44.56 |
11.49 |
69,00 |
-83.36 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
|
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
299.39 |
128 |
131.27 |
-12.56 |
150.13 |
313,00 |
-4.35 |
|
|
Equity in
percentage |
7.32 |
39.16 |
5.26 |
-26.02 |
7.11 |
30,00 |
-75.60 |
|
Total debt
ratio |
12.67 |
-29.69 |
18.02 |
37.87 |
13.07 |
70,00 |
-81.90 |
|
Payment
expectations |
|
|
Payment
expectation days |
-- |
|
Day
sales outstanding |
-- |
|
Industry
comparison |
|
|
Activity
code |
46772 |
|
Activity
description |
Wholesale
of iron and steel scrap and old non-ferro metals |
|
Industry
average payment expectation days |
72.94 |
|
Industry
average day sales outstanding |
117.36 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
-- |
|
Lower |
82.74 |
|
Median |
48.68 |
|
Upper |
25.72 |
|
Day
sales outstanding |
|
|
Company
result |
-- |
|
Lower |
75.12 |
|
Median |
40.51 |
|
Upper |
18.29 |
Minority Shareholders
No
minority shareholders found
Minority Interests
No minority interest found
Protested Bills
There is no data for this company
Bankruptcy and other legal events
There is no data for this company
|
Director
details |
|
|
Current director details |
|
|
Name |
HARIKRISHNA
POPATLAT PATEL |
|
Position |
Principal
Manager |
|
Start Date |
18/07/2014 |
|
Street |
213
ITALIELEI ANTWERPEN |
|
Post code |
2000 |
|
Country |
Belgium |
|
|
|
|
Name |
POPATLAI
PATEL HARIKRISHNA |
|
Position |
Principal
Manager |
|
Start Date |
01/02/2000 |
|
Street |
213
ITALIELEI ANTWERPEN |
|
Post code |
2000 |
|
Country |
Belgium |
|
|
|
|
Name |
HARIKRISHNA
PATEL |
|
Position |
Principal
Manager |
|
Start Date |
06/01/2006 |
|
Street |
|
|
Post code |
|
|
Country |
|
|
|
|
|
Former director details |
|
|
Name |
HARIKRISHNA
POPATLAL PATEL |
|
Position |
Principal
Manager |
|
Start Date |
21/07/2012 |
|
Street |
31/12/2013 |
|
Post code |
2000 |
|
Country |
Belgium |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.65 |
|
|
1 |
Rs.96.54 |
|
Euro |
1 |
Rs.76.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.