MIRA INFORM REPORT
|
Report Date : |
22.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEWTEC CY NV |
|
|
|
|
Registered Office : |
Laarstraat5
9100sint-Niku\As |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
01.02.1985 |
|
|
|
|
Com. Reg. No.: |
426702802 |
|
|
|
|
Legal Form : |
Public Limited Liability Company (BE) |
|
|
|
|
Line of Business : |
Wholesale of electronic and telecommunications equipment and parts |
|
|
|
|
No. of Employees : |
226 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
|
Source
: CIA |
Company summary
Business
number 426702802
Company
name NEWTEC
CY NV
Address LAARSTRAAT5
9100SINT-NIKU\AS
Number of staff 226
Date of establishment 01/02/1985
Telephone number 037806500
Fax number 037806549
Commentary
|
The
business was established over 29 years ago. |
4 |
|
The business
has 226 employees. |
|
|
The
business is part of a group. |
|
|
This
business has a foreign parent business. |
|
|
The
business has been at the address for over 9 years. |
|
|
The credit
rating for this business has decreased from 98 to 50. |
|
|
The credit
limit for this business has decreased from €1050000 to €0. |
|
|
Operating
Result in the latest trading period decreased 2944% on the previous trading
period. |
|
|
Net Worth
decreased by 101% during the latest trading period. |
|
|
Pre-tax profits
decreased by 2451% compared to the previous trading period. |
|
|
The
business saw an increase in their Cash Balance of 36% during the latest
trading period. |
|
|
Net Worth
is a negative amount during the latest trading period. |
|
|
Working Capital
is a negative amount during the latest trading period. |
A- |
Account
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
30/09/2013 |
41,520,481 |
-4,926,993 |
-104,331 |
-298,093 |
|
30/09/2012 |
43,590,790 |
209,538 |
5,850,520 |
3,202,851 |
|
30/09/2011 |
47,193,687 |
-1,249,612 |
5,213,359 |
4,727,159 |
Accounts
|
DATE OF
LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF
EMPLOYEES |
CAPITAL |
CASHFLOW |
|
30/09/2013 |
50,045,502 |
226 |
198,400 |
-307,208 |
|
30/09/2012 |
48,633,150 |
232 |
198,400 |
5,246,407 |
|
30/09/2011 |
44,605,116 |
228 |
198,400 |
632,240 |
Payment expectations
Past payments Payment expectation days 60.58
Industry average payment 67.28
Industry average day sales 96.68
expectation days outstanding
Day sales outstanding 52.58
Court data summary
BANKRUPTCY DETAILS
Court action type No
PROTESTED BILLS
Bill amount NSSO
DETAILS Date of
Summons
Company
information
Business number 426702802
Fax number 037806549
Company status active
Currency Euro (€)
Company name NEWTEC CY NV
Date founded 01/02/1985
Company type Public Limited Liability Company (BE)
Date of latest
Accounts 30/09/2013
Activity code
46520
Liable for VAT yes
Activity description Wholesale of electronic and telecommunications
equipment and parts
VAT Number BE.0426.702.802
Check VAT number
Belgian Bullettin of Acts moniteur belge
Contractor details
|
Registered contractor -number |
|
Contractor description - |
|
Date struck off register |
|
Social Balance Sheet Details |
|
|
Social Balance Sheet Total
During the reporting year
ended 30-09-2013
Full-time Employees 208
Part-time Employees 29
Total Fte Employees 230
Number of hours worked
Full-time Employees 351,543
Part-time Employees 34,884
Total 386,427
Personnel Charges
Full-time Employees 17,461,088
Part-time Employees 1,393,090
Total 18,854,179
Benefits In Addition To Wages 270,126
During the previous reporting year
Average number employees in Fte 233
Actual working hours 390,507
Personnel Charges 18,444,215
Benefits In Addition To Wages -
Type of Contract Full-Time
Part-Time Total Fte
Unlimited Duration Contracts 200 29 222
Limited Duration Contracts 5 - 5
Contracts For Specific Work - - -
Contracts Regarding Substitution -
- -
|
Gender and Education Level |
||||
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary education - - - |
||||
|
Secondairy education |
16 |
1 |
17 |
|
|
Higher education (non university) |
91 |
3 |
93 |
|
|
Higher education
(university) |
62 |
2 |
63 |
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary education |
1 |
- |
1 |
|
|
Secondairy education |
20 |
13 |
30 |
|
|
Higher education (non university) |
7 |
6 |
12 |
|
|
Higher education (university) |
8 |
4 |
11 |
|
|
|
|
|
|
|
|
Working Category |
Full-Time |
Part-Time |
Total
Fte |
|
|
Management - - - |
||||
|
White collar worker |
182 |
18 |
196 |
|
|
Blue collar worker |
23 |
11 |
31 |
|
|
Other - - - |
||||
|
|
|
|
|
|
|
|
||||
|
Temporary personnel |
|
Total |
|
|
|
Average number of temporary
staff |
3 |
|
|
|
|
Actual working hours |
|
6,012 |
|
|
|
Cost of temporary staff |
|
208,300 |
|
|
|
s--------------------------------- New staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
----------- s |
|
New Starters |
46 |
1 |
47 |
|
|
Leavers |
46 |
2 |
48 |
|
Personnel
(NSSO classification)
Code -Description –
Joint Industrial Committee
(JIC
|
JIC Code |
100 |
|
Description |
Additional joint committee for labourers |
|
category |
|
|
|
|
JIC
Code 111
Description
JC for the metal,
machinery and electrical construction
Category
JIC
Code 209
Description
Joint committee for the
employees off the metal industry
Category
JIC
Code 218
Description
Additional national joint
committee for the employees
Category
Significant
Events
Event
Date 13/03/2013
Event
Description re-appointment of
director(s)
Event Details Commentaar 13-03-2013: Herbenoemd
als bestuurders voor een periode van zes jaar : De Pinnewaert Sonja, Van Herck
Serge en Schellekens Emmanuel.
Company accounts
Profit and Loss
|
Annual accounts |
30-09-2013 |
% |
30-09-2012 |
% |
30-09-2011 |
Industry |
% |
|
|
|
|
|
|
|
|
average
2013 |
|
|
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
|
Turnover |
41,520,481 |
-4.75 |
43,590,790 |
-7.63 |
47,193,687 |
13,992,258 |
196 |
|
|
Total
operating expenses |
45,915,643 |
5.71 |
43,436,289 |
-9.85 |
48,182,289 |
13,510,895 |
239 |
|
|
-4,395,162 |
-2944 |
154,502 |
15.63 |
-988,603 |
185,037 |
-2475 |
||
|
832,094 |
-51.53 |
1,716,612 |
-7.92 |
1,864,256 |
57,448 |
1348 |
||
|
1,363,924 |
-17.91 |
1,661,576 |
-21.82 |
2,125,265 |
62,900 |
2068 |
||
|
-4,926,993 |
-2451 |
209,538 |
16.77 |
-1,249,612 |
175,185 |
-2912 |
||
|
28,888 |
75189 |
-38 |
0.09 |
-42,476 |
66,764 |
-56.73 |
||
|
-4,955,880 |
-2464 |
209,576 |
17.36 |
-1,207,136 |
122,900 |
-4132 |
||
|
125,495 |
-85.52 |
866,402 |
42.17 |
-2,054,685 |
-28,182 |
445 |
||
|
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
||
|
-4,830,385 |
-548 |
1,075,978 |
32.99 |
-3,261,821 |
94,754 |
-5197 |
||
|
OTHER INFORMATION |
|
|||||||
|
- |
- |
- |
- |
- |
234,327 |
- |
||
|
- |
- |
- |
- |
- |
757,095 |
- |
||
|
- |
- |
- |
- |
- |
1,498,463 |
- |
||
|
18,854,683 |
2.23 |
18,444,215 |
2.54 |
17,987,229 |
1,325,946 |
1321 |
||
|
13,320,032 |
0.53 |
13,249,655 |
3.82 |
12,761,772 |
953,034 |
1297 |
||
|
504 |
- |
- |
- |
- |
59,274 |
-99 |
||
|
3,898,058 |
3.51 |
3,765,806 |
-0.55 |
3,786,699 |
282,984 |
1277 |
||
|
1,636,088 |
14.51 |
1,428,754 |
-0.70 |
1,438,758 |
82,804 |
1875 |
||
|
Amortization and
depreciation |
4,523,177 |
8.46 |
4,170,428 |
7.10 |
3,894,061 |
113,315 |
3891 |
|
balance sheet
|
Annual accounts |
30-09-2013 |
% |
30-09-2012 |
% |
30-09-2011 |
Industry average
2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
11,605,624 |
- |
10,481,158 |
- |
10,042,340 |
117,976 |
9737 |
|
|
4,114,710 |
-12.76 |
4,716,382 |
-12.16 |
5,369,105 |
331,818 |
1140 |
|
|
2,603,444 |
-9.02 |
2,861,418 |
-8.34 |
3,121,701 |
503,176 |
417 |
|
|
854,591 |
-33.03 |
1,276,148 |
-21.24 |
1,620,329 |
56,999 |
1399 |
|
|
311,169 |
-20.11 |
389,495 |
-10.35 |
434,470 |
41,630 9,364 |
647 |
|
|
295,973 |
56.33 |
189,321 |
-1.70 |
192,604 |
305,325 18,072 |
-3.06 |
|
|
49,533 |
- |
0 |
- |
0 |
22,445 |
120 |
|
|
4,119,458 |
-0.38 |
4,135,151 |
0.01 |
4,134,622 |
324,077 |
1171 |
|
|
19,839,793 |
2.62 |
19,332,690 |
-1.09 |
19,546,067 |
654,182 |
2932 |
|
|
19,047,128 |
28.94 |
14,771,594 |
42.02 |
10,401,175 |
816,821 |
2231 |
|
|
3,505,875 |
9.95 |
3,188,651 |
6.70 |
2,988,480 |
2,670,636 |
31.27 |
|
|
Work in progress |
12,715,649 |
30.32 |
9,757,418 |
67.85 |
5,813,245 |
137,962 |
9116 |
|
2,825,604 |
54.78 |
1,825,525 |
14.13 |
1,599,450 |
208,380 |
1255 |
|
|
0 |
- |
0 |
- |
0 |
86,287 |
-100 |
|
|
5,980,668 |
-37.56 |
9,578,987 |
5.64 |
9,067,516 |
887,837 |
573 |
|
|
Cash |
3,516,220 |
36.52 |
2,575,568 |
-15.60 |
3,051,707 |
627,620 |
460 |
|
739,453 |
-25.78 |
996,308 |
-29.55 |
1,414,152 |
298,054 |
148 |
|
|
922,240 |
-33.07 |
1,378,002 |
22.54 |
1,124,500 |
68,363 |
1249 |
|
|
30,205,709 |
3.09 |
29,300,459 |
16.93 |
25,059,050 |
2,621,114 |
1052 |
|
|
50,045,502 |
2.90 |
48,633,150 |
9.03 |
44,605,116 |
3,188,597 391,607 |
1469 |
CURRENT LIABILITIES
Trade 7,620,929 -3.61
7,905,974 43.28 5,517,751 713,896 967
Short
term group loans - - - -- - - -
Financial
Debts 10,813,278 9.73 9,
854,608 57.62 6,252,084 737,805 1365
Current
portion of long term debt
1,405,964
-18.58 1,726,801 -4.59
1,809,913 87,077 1514
Amounts
Payable for Taxes, 3,430,897 4.03 3,297,903 -1.15
3,336,313 24,857 1152
Remuneration
&Social Security
Miscellaneous
current liabilities 7,232,735 118
3,312,322 -3.03 3,415,831 2139
Total
current liabilities 30,503,802
16.88 26,097,608 28.36 20,331,891 1,536,262 1885
LONG TERM DEBTS AND LIABILITIES
Long term group loans
Other long term loans 5,203,023 115
2,411,502 -40.78 4,072,094 1387
--
Deffered -- -- -- -- 6,746 0 -- -
Provisions for Liabilities 2,837,384 -25.18 3,792,362 -23.32 4,945,432 219,1990
1194
& Charges
Other long term liabilities 21,313 -100
Total long term debts 8,040,407
29.60 6,203,863 -31.20 9,017,526 421,936
1805
SHAREHOLDERS EQUITY
Issued share capital 198,400 0
198,400 0 198,400 608,285 -67.38
Share premium account -
290,964 -
Reserves 11,302,893 -29.94
16,133,278 7.15 15,057,300 595,362
1798
Revaluation Reserve
Total shareholders 11,501,293 -29.58
16,331,678 7.05 15,255,700 1,230,399
834
Working capital -298,093 -109
3,202,851 -32.25 4,727,159 1,084,851
-127
Cashflow -307,208
-105 5,246,407 729 632,240 191,687 -260
Net Worth -104,331
-101 5,850,520 12.22 5,213,359
1,112,423 -109
ratio analysis
|
Annual accounts |
30-09-2013 |
change(%) |
30-09-2012 |
change(%) |
30-09-2011 |
Industry
average 2013 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
-11.87 |
-2572 |
0.48 |
18.11 |
-2.65 |
3,00 |
-495 |
|
-25.21 |
-2810 |
0.93 |
18.06 |
-5.15 |
-15,00 |
-68.07 |
|
|
-9.85 |
-2390 |
0.43 |
15.36 |
-2.80 |
-3,00 |
-228 |
|
|
-42.84 |
-3446 |
1.28 |
15.63 |
-8.19 |
65,00 |
-165 |
|
|
-139.29 |
-1123 |
13.61 |
36.37 |
9.98 |
-1,00 |
-100 |
|
|
45.87 |
35.35 |
33.89 |
53.77 |
22.04 |
13,00 |
252 |
|
|
52.58 |
-34.45 |
80.21 |
14.37 |
70.13 |
96,68 |
-45.61 |
|
|
60.58 |
-8.81 |
66.43 |
58.92 |
41.80 |
67,28 |
-9.96 |
|
|
SHORT TERM
STABILITY |
|
|
|
|
|
|
|
|
0.99 |
-11.61 |
1.12 |
-8.94 |
1.23 |
2,00 |
-1.00 |
|
|
0.37 |
-33.93 |
0.56 |
-22.22 |
0.72 |
2,00 |
-81.50 |
|
|
2.65 |
65.62 |
1.60 |
20.30 |
1.33 |
1,00 |
165 |
|
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
|
|
LONG TERM
STABILITY |
|
|
|
|
|
|
|
|
151.48 |
76.80 |
85.68 |
7.72 |
79.54 |
118,00 |
28.37 |
|
|
29.92 |
-30.11 |
42.81 |
-3.01 |
44.14 |
-40,00 |
74.80 |
|
|
3.35 |
69.19 |
1.98 |
3.12 |
1.92 |
1,00 |
235 |
Payment Information
Payment Information Summary
Total number of Invoices available 29
Total number of Invoices paid within or up to 30 days after the due date
22
Total number of Invoices paid more than 30 days after the due date 1
Total number of Invoices currently outstanding where the due date has
not yet been reached 0
Total number of Invoices currently outstanding beyond the due date 6
Suspension of payments / moratorium history
Amount -Details -
Payment expectations
Payment expectation days 60.58
Day
sales outstanding 52.58
Industry comparison
Activity code 46520
Activity description Wholesale
of electronic and telecommunications equipment and parts
Industry average payment 67.28
expectation days
Industry average day sales
96.68
Outstanding
Industry quartile analysis
|
Payment
expectations |
|
|
|
Company
result |
60.58 |
|
|
Lower |
87.72 |
|
|
Median |
62.38 |
|
|
Upper |
31.15 |
|
|
Day sales outstanding
Company result |
52.58 |
|
|
Lower |
75.32 |
|
|
Median |
38.53 |
|
|
Upper |
14.94 |
|
Shareholder Details
Summary
Group - Number of Companies 9
Linkages - Number of Companies 1
Number of Countries 1
|
Company
name |
Number |
Latest |
|
|
|
financials |
|
426702802 |
30-09-2013 |
NEWTEC (BEIJING) SATELLITE COMMUNICATION...
NEWTEC AMERICA, INC
NEWTEC AMERICA DO SUL EQUIPAMENTOS E SOL...
NEWTEC ASIA PACIFIC PTE LTD SOC.ETR. E.P...
NEWTEC COMMUNICATIONS GMBH HRB90496
B
NEWTEC DIAMOND SATELLITE COMMUNICATIONS ... □
SARL NEWTEC SOC.ETR. E.P.B. r t
TURBOCONCEPT SOC.ETR. E.P.B. r I
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Linked Companies
Summary
Group - Number of Companies 9
Linkages - Number of Companies 1
Number of Countries 1
Linked Companies
NAME NUMBER LATEST KEY TURNOVER
FINANCIALS
TURBOCONCEPT 424641629 30.09.2013 1.146.294
Summons
there is no data for this
company
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 SERGE DOMINIQUE VIVIAN VAN HERCK
Position Director
Start Date 13/03/2013
Street 24 HEIEBREESTRAAT GENT
Post
code 9031
Country Belgium
Name EMMANUEL SCHELLEKENS
Position Director
Start Date 25/03/2011
Street 6 RUE DU CHARNOIS
OTTIGNIES-LOUVAIN-LA-NEUVE
Post
code 1342
Country Belgium
Name JEAN-MARIE CORNELIUS MAES
Position Director
Start Date 25/03/2011
Date
of birth 27/05/1944
Street 48 NIEUWE BAAN SINT-NIKLAAS
Post
code 9111
Country Belgium
Name DIRK BREYNAERT
Position Director
Start Date 25/03/2011
Date
of birth 20/02/1953
Street 23 JEF DE PAUWSTRAAT
SINT-NIKLAAS
Post
code 9100
Country Belgium
Name SERGE VAN HERCK
Position Director
Start Date 14/06/2007
Street 24 HEIEBREESTRAAT GENT
Post
code 9031
Country Belgium
Name SONJA DE PINNEWAERT
Position Director
Start Date 14/05/2013
Street 75 BRANDSTRAAT SINT-NIKLAAS
Post
code 9100
Country Belgium
Current
mandates in other companies
Name Belgische Interprofessionele Vereniging voor
Ruimtevaartaangelegenheden ASBL
Business
number 407621120
Position Director
Start Date 16/03/2004
Former director details
Former mandates in other companies
Name Sangine In Vereffening NV
Business
number 869688835
Position Director
Start Date 30/01/2006
End Date 17/03/2008
Business number 869688835
Position Liquidator
Start Date 19/05/2009
End Date Unknown date
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
|
1 |
Rs.97.01 |
|
Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SDA |
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.