MIRA INFORM REPORT

 

 

Report Date :

19.11.2014

 

IDENTIFICATION DETAILS

 

Name :

BOLAIR B.V.

 

 

Registered Office :

Nijverheidstraat 8, 2751GR Moerkapelle

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

19.05.1987

 

 

Com. Reg. No.:

29031056

 

 

Legal Form :

Private Company

 

 

Line of Business :

Production Company of air and refrigeration equipment and noise control                     equipment

 

 

No of Employees :

28

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NETHERLANDS - ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and 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. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US 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. 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. To recover, the government 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 austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

 

Source : CIA

COMPANY NAME & ADDRESS

Summary

Company name                        BOLAIR B.V.

Operative address                    Nijverheidstraat 8

2751GR Moerkapelle

Netherlands

Legal form                               Private Company

Registration number                KvK-nummer: 29031056

VAT-number                             007620160

 

Year

2012

Mutation

2011

Mutation

2010

Fixed assets

2.451.560

3,43

2.370.341

1,25

2.341.055

Total receivables

269.789

20,18

224.492

19,15

188.406

Total equity

1.153.123

-2,75

1.185.676

-18,93

1.462.509

Short term liabilities

778.906

37,41

566.852

231,03

171.238

Working capital

-499.237

-45,86

-342.265

-1.687,94

21.554

Quick ratio

0,36

-10,00

0,40

-64,60

1,13

 

 

 

 

Contact information

 

Company name                        Bolair B.V.

Trade names                            Bolair B.V.

Acoustair

Interko

Operative address                    Nijverheidstraat 8

2751GR Moerkapelle

Netherlands

Correspondence address         Postbus 1

2750AA Moerkapelle

Netherlands

Telephone number                   0795932994

Fax number                              0795932194

Email address                          info@binair.com

Website                                    www.binair.com

 

 

Registration

 

Registration number                KvK-nummer: 29031056

Branch number                        000017354463

VAT-number                             007620160

Status                                      Active

Memorandum                           1984-12-06

Establishment date                  1987-05-19

Legal form                               Private Company

Last proposed admendment     2005-11-23

 

 

Activities

 

SBI                   Manufacture of non-domestic cooling and ventilation equipment (2825)

                          Installation of heat and air-conditioning systems (43222)

 

Exporter           No

 

Importer           No

 
Goal                  Production Company of air and refrigeration equipment and noise control equipment

 

 

Relations

 

Shareholders                                        Binair Groep B.V.

Nijverheidstraat 8

2751GR Moerkapelle

Registration number: 080734260000

Percentage: 100%

 

Companies on same address                Bemato B.V.

Registration number: 243642890000

Binair Groep B.V.

Registration number: 080734260000

Binair Groep B.V.

Registration number: 290381220000

Vereniging Ondernemingen Geluidshinderbestrijding

Registration number: 404819190000

 

Liability statements                               Binair Groep B.V.

Nijverheidstraat 8

2751GR Moerkapelle

Registration number: 080734260000

date of issue: 2009-10-16

Starting date: 2009-10-16

 

 

Management

 

Active management

 

Binair Groep B.V.

Nijverheidstraat 8

2751GR Moerkapelle

Registration number: 080734260000

Competence: Fully authorized

Function: Manager

Starting date: 2001-10-24

C.B. Maat (Christiaan Bernhard)

Koningsplein 41

2611XE Delft

Netherlands

Competence: Fully authorized

Function: Managing Director

Starting date: 2014-08-18

Date of birth: 1975-03-14, Zwolle, NL

A. Korving - Bontenbal (Astrid)

Ooiweide 23

2727HE Zoetermeer

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 1999-01-04

Date of birth: 1970-10-31, Waddinxveen, NL

 

 

Employees

 

Total according to the Chamber of Commerce     28

 

Year

2014

2012

2011

2010

2008

Total

28

29

29

34

29

 

 

 

 

 

 

Payments

 

Description                            Payments are made regularly with some delay

 

 

Key figures

 

Year

2012

2011

2010

2009

2008

Quick ratio

0,36

0,40

1,13

1,84

1,16

Current ratio

0,36

0,40

1,13

2,29

1,56

 

 

 

 

 

 

Working capital/ balance total

-0,18

-0,13

0,01

0,43

0,28

Equity / balance total

0,42

0,46

0,58

0,36

0,20

Equity / Fixed assets

0,47

0,50

0,62

1,58

0,90

Equity / liabilities

0,73

0,84

1,37

0,56

0,26

Balance total / liabilities

1,73

1,84

2,37

1,56

1,26

 

 

 

 

 

 

Working capital

-499.237

-342.265

21.554

1.801.336

1.261.086

Equity

1.153.123

1.185.676

1.462.509

1.491.633

931.215

Mutation equity

-2,75

-18,93

-1,95

60,18

17,71

Mutation short term liabilities

37,41

231,03

-87,74

-38,02

29,07

 

Summary                The 2012 financial result structure is a negative working captial of -499.237 euro, which is in

agreement with -18 % of the total assets of the company.

The working capital has diminished with -45.86 % 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 0.36. When the current ratio is below 1.5, the

company may have problems meeting its short-term obligations.

The quick ratio in 2012 of the company was 0.36. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

The 2011 financial result structure is a negative working captial of -342.265 euro, which is in

agreement with -13 % of the total assets of the company.

The working capital has diminished with -1687.94 % compared to previous year. The ratio,

with respect to the total assets of the company has however, declined.

The deterioration between 2010 and 2011 has mainly been caused by an increase of the

current liabilities.

The current ratio of the company in 2011 was 0.4. When the current ratio is below 1.5, the

company may have problems meeting its short-term obligations.

The quick ratio in 2011 of the company was 0.4. A company with a Quick Ratio of less than 1

cannot currently pay back its current liabilities.

 

 

 

 

Financial statement

 

Last annual account                              2012

Remark annual account         The financial statements shown in the report relate to the consolidated financial statements of the group.

 

Type of annual account          Corporate

Annual account                      Binair Groep B.V.

Nijverheidstraat 8

2751GR Moerkapelle

Registration number: 080734260000

 

 

Balance

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Tangible fixed assets

518.471

518.471

518.471

946.881

1.029.719

Financial fixed assets

1.933.089

1.851.870

1.822.584

 

 

Fixed assets

2.451.560       

2.370.341       

2.341.055

946.881

1.029.719

Total stock

 

 

 

629.789

890.494

Total receivables

269.789

224.492

188.406

1.185.015

2.107.811

Liquid funds

9.880

95

4.386

1.383.384

516.520

Current assets

279.669

224.587

192.792

3.198.188

3.514.825

Total assets

2.731.229

2.594.928

2.533.847

4.145.069

4.544.544

 

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

 

 

 

 

 

 

Issued capital

45.400

45.400

45.400

 

 

Legal and statutory reserve

160.894

181.250

 

 

 

Other reserves

946.829

959.026

1.417.109

 

 

Total reserves

1.107.723

1.140.276

1.417.109

 

 

Total equity

1.153.123

1.185.676

1.462.509

1.491.633

931.215

 

 

 

 

 

 

Provisions

 

 

 

98.802

106.324

Long term interest yielding debt

799.200

842.400

900.100

1.157.782

1.253.266

Long term liabilities

799.200

842.400

900.100

1.157.782

1.253.266

Short term liabilities

778.906

566.852

171.238

1.396.852

2.253.739

Total short and long term liabilities

1.578.106

1.409.252

1.071.338

2.653.436

3.613.329

Total liabilities

2.731.229

2.594.928

2.533.847

4.145.069

4.544.544

 

Summary                               The total assets of the company increased with 5.25 % between 2011 and 2012.

The fixed asset growth of 3.43 % is lower than the total asset growth.

Asset growth is in contrasts with the net worth decline of -2.75 %. The company's

indebtedness has, therefore, increased with 11.98 %.

In 2012 the assets of the company were 89.76 % composed of fixed assets and 10.24 % by current assets. The assets are being financed by an equity of 42.22 %, and total debt of 57.78 %.

The total assets of the company increased with 2.41 % between 2010 and 2011.

The fixed asset growth of 1.25 % is lower than the total asset growth.

Asset growth is in contrasts with the net worth decline of -18.93 %. The company's

indebtedness has, therefore, increased with 31.54 %.

In 2011 the assets of the company were 91.35 % composed of fixed assets and 8.65 % by current assets. The assets are being financed by an equity of 45.69 %, and total debt of 54.31 %.

 

 

 

 

 

Analysis

 

Branch (SBI)           Manufacture of machinery and equipment n.e.c. (28)

Region    Zuid-Holland Oost

In the Netherlands 4630 of the companies are registered with the SBI code 28

In the region Zuid-Holland Oost 233 of the companies are registered with the SBI code 28

In the Netherlands 136 of the bankrupcties are published within this sector

In the region Zuid-Holland Oost 8 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 Zuid-Holland Oost is normal

 

 

Publications

 

Filings                    28-10-2013: De jaarrekening over 2012 is gepubliceerd.

19-07-2012: De jaarrekening over 2011 is gepubliceerd.

04-10-2011: De jaarrekening over 2010 is gepubliceerd.

Functions               25-08-2014: Per 18-08-2014 is gevolmachtigde Christiaan Bernhard Maat in functie getreden.

 

 

Company structure

 

Relations                                                              6

Mawold Holding B.V.

Kamvaren 6

2498CM 'S-GRAVENHAGE

Netherlands

Registration number: 272686400000

• Bemato B.V.

Nijverheidstraat 8

2751GR MOERKAPELLE

Netherlands

Registration number: 243642890000

• Binair Groep B.V.

Nijverheidstraat 8

2751GR Moerkapelle

Registration number: 080734260000

• Bolair B.V.

Nijverheidstraat 8

2751GR Moerkapelle

Netherlands

Registration number: 290310560001

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.81

UK Pound

1

Rs.96.77

Euro

1

Rs.77.09                       

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SMN

 

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.