|
Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
IMPEXTRACO NV |
|
|
|
|
Registered Office : |
Wiekevorstsesteenweg 38, 2220 Heist-Op-Den-Berg |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
23.03.1970 |
|
|
|
|
Com. Reg. No.: |
407064161 |
|
|
|
|
Legal Form : |
Public Limited Liability Company (BE) |
|
|
|
|
Line of Business : |
Manufacture of prepared feeds for farm
animals |
|
|
|
|
No. of Employees : |
60 |
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 407064161
Company name IMPEXTRACO NV
Address WIEKEVORSTSESTEENWEG
38
2220
HEIST-OP-DEN-BERG
Number of staff 60
Date of establishment 23/03/1970
Telephone number 015222425
Fax number 015222424
The business was established over 44 years ago.
The business has 50 employees.
The business is part of a group.
This business has a foreign parent business.
The business has been at the address for over 16 years.
The business saw an increase in their Cash Balance of 42% during the
latest trading period
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
30/09/2013 |
122,033,465 |
5,507,864 |
24,538,184 |
20,068,574 |
|
30/09/2012 |
127,800,809 |
5,430,465 |
22,099,828 |
16,246,378 |
|
30/09/2011 |
121,091,567 |
6,238,233 |
26,311,884 |
22,253,551 |
|
Accounts DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
30/09/2013 |
36,527,772 |
60 |
125,000 |
5,517,157 |
|
30/09/2012 |
39,771,911 |
63 |
125,000 |
5,287,288 |
|
30/09/2011 |
46,214,569 |
61 |
125,000 |
5,434,417 |
Past payments Payment
expectation days 19.31
Industry average payment expectation days 65.43 Industry average day sales outstanding 90.63
Day sales outstanding 3 9.43
Business number 407064161
Company name IMPEXTRACO NV
Fax number 015222424
Date founded 23/03/1970
Company status active
Company type Public Limited
Liability Company (BE)
Currency Euro (€)
Date of latest accounts 30/09/2013
Activity code 10910
Liable for VAT yes
Activity description Manufacture of
prepared feeds for farm animals
VAT Number BE.0407.064.161
Belgian Bullettin of Acts
Publications
Contractor details
Social Balance Sheet Total
During the reporting year
ended 30-09-2013
Full-time Employees 59
Part-time Employees 5
Total Fte Employees 62
Number of hours worked
Full-time Employees 95,799
Part-time Employees 4,465
Total 100,264
Personnel Charges
Full-time Employees 3,746,540
Part-time Employees 174,619
Total 3,921,159
Benefits In Addition To Wages -
During the previous reporting year
Average number employees in Fte 63
Actual working hours 99,909
Personnel Charges -
Benefits In Addition To Wages
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education ... |
||||
|
Secondairy
education |
41 |
3 |
43 |
|
|
Higher
education (non |
- |
- |
- |
|
|
university) |
|
|
|
|
|
Higher
education |
- |
- |
- |
|
|
(university) |
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education ... |
||||
|
Secondairy
education |
16 |
2 |
17 |
|
|
Higher
education (non |
- |
- |
- |
|
|
university) |
|
|
|
|
|
Higher
education |
- |
- |
- |
|
|
(university) |
|
|
|
|
|
|
||||
|
|
||||
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
|
|
Management
... |
||||
|
White
collar worker |
25 |
5 |
28 |
|
|
Blue
collar worker |
32 |
- |
32 |
|
|
Other |
||||
|
|
||||
|
|
||||
|
Temporary
personnel |
|
Total |
|
|
|
Average
number of temporary staff |
7 |
|
|
|
|
Actual
working hours |
|
14,843 |
|
|
|
Cost of
temporary staff |
|
452,158 |
|
|
|
|
||||
|
|
||||
|
New staff
and leavers |
Full-Time |
Part-Time |
Total Fte |
|
|
New
Starters |
5 |
- |
5 |
|
|
Leavers |
8 |
- |
8 |
|
|
|
||||
|
|
||||
|
Total of
formal continuing vocational training initiatives |
|
|
|
|
|
for workers
paid by the employer |
Male |
Female |
|
|
|
Number of
employees |
|
- |
- |
|
|
Number of
training hours |
|
- |
- |
|
|
Net costs
for enterprise |
|
- |
- |
|
|
Total of
less formal and informal continuing vocational |
|
|
|
|
|
training initiatives
for workers paid by the employer |
Male |
Female |
|
|
|
Number of
employees |
||||
|
Number of
training hours |
||||
|
Net costs
for enterprise |
||||
|
Total of
initial training initiatives at the expense of the |
|
|
|
|
|
employer |
|
Male |
Female |
|
Significant Events
Event Date 30/12/2011
Event Description
Event Details Met eenparigheid van
stemmen wordt besloten de aard van de aandelen te wijzigen en
hiertoe de
aandelen aan toonder om te zetten in aandelen op naam
Profit & loss
|
Annual
accounts |
30-09-2013 |
% |
30-09-2012 |
% |
30-09-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
122,033,465 |
-4.51 |
127,800,809 |
5.54 |
121,091,567 |
58,412,350 |
108 |
|
Total
operating expenses |
116,196,801 |
-4.87 |
122,139,911 |
7.16 |
113,976,680 |
57,457,672 |
102 |
|
Operating
result |
5,836,664 |
3.10 |
5,660,898 |
-20.44 |
7,114,887 |
475,535 |
1127 |
|
Total
financial income |
7,817,215 |
-45.04 |
14,223,423 |
8.06 |
13,162,074 |
271,255 |
2781 |
|
Total
financial expenses |
8,146,015 |
-43.64 |
14,453,856 |
2.96 |
14,038,727 |
258,753 |
3048 |
|
Results on
ordinary operations before taxation |
5,507,864 |
1.43 |
5,430,465 |
-12.95 |
6,238,233 |
476,238 |
1056 |
|
Taxation |
1,377,429 |
0.40 |
1,371,877 |
-12.94 |
1,575,866 |
101,245 |
1260 |
|
Results on
ordinary operations after taxation |
4,130,435 |
1.77 |
4,058,588 |
-12.95 |
4,662,368 |
388,832 |
962 |
|
Extraordinary
items |
-101,077 |
-134 |
-43,164 |
-20.02 |
-35,963 |
76,889 |
-231 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result |
4,029,359 |
0.35 |
4,015,425 |
-13.21 |
4,626,404 |
465,358 |
765 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
281,083 |
- |
|
Dividends |
600,000 |
-91.67 |
7,200,000 |
- |
- |
1,508,364 |
-60.22 |
|
Director
remuneration |
- |
- |
- |
- |
- |
425,611 |
- |
|
Employee
costs |
3,921,159 |
-4.45 |
4,103,825 |
7.23 |
3,827,096 |
1,510,496 |
159 |
|
Wages and salary |
2,818,364 |
-8.55 |
3,081,833 |
8.43 |
2,842,315 |
1,111,416 |
153 |
|
Employee pension costs |
- |
- |
- |
- |
- |
68,891 |
- |
|
Social security contributions |
923,497 |
4.10 |
887,083 |
8.51 |
817,530 |
364,701 |
153 |
|
Other employee costs |
179,297 |
32.90 |
134,909 |
-19.34 |
167,250 |
86,358 |
107 |
|
Amortization
and depreciation |
1,487,798 |
16.98 |
1,271,864 |
57.41 |
808,013 |
534,384 |
178 |
|
balance sheet |
||||||||
|
|
Annual accounts |
30-09-2013 |
% |
30-09-2012 |
% |
30-09-2011 |
Industry
average 2013 |
% |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
|
Intangible fixed assets |
13,744 |
- |
23,335 |
- |
0 |
90,046 |
-84.74 |
|
|
Tangible fixed assets |
4,409,911 |
-16.65 |
5,290,545 |
48.78 |
3,555,975 |
4,460,488 |
-1.13 |
|
|
Land & building |
2,010,567 |
-5.17 |
2,120,111 |
-1.89 |
2,160,879 |
2,149,743 |
-6.47 |
|
|
Plant & machinery |
1,623,714 |
64.44 |
987,414 |
131 |
425,768 |
2,629,351 |
-38.25 |
|
|
Furniture & Vehicles |
446,195 |
-15.25 |
526,476 |
2.47 |
513,777 |
156,725 52,109 |
184 |
|
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
171,484 23,918 - |
|
|
|
Other tangible assets |
329,435 |
-80.11 |
1,656,543 |
263 |
455,551 |
130,641 |
152 |
|
|
Financial fixed assets |
59,699 |
-89.39 |
562,906 |
12.05 |
502,358 |
6,098,234 |
-99 |
|
|
Total fixed assets |
4,483,354 |
-23.71 |
5,876,785 |
44.81 |
4,058,333 |
8,284,931 |
-45.89 |
|
|
Inventories |
11,689,769 |
2.96 |
11,354,143 |
-34.73 |
17,395,229 |
2,208,219 |
429 |
|
|
Raw materials & consumables |
1,794,640 |
50.69 |
1,190,938 |
-25.84 |
1,605,883 |
2,509,919 |
-28.50 |
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
92,124 |
-100 |
|
|
Finished goods |
9,895,129 |
-2.64 |
10,163,205 |
-35.63 |
15,789,346 |
722,742 |
1269 |
|
|
Other stocks |
0 |
- |
0 |
- |
0 |
111,400 |
-100 |
|
|
Trade debtors |
13,182,567 |
-23.93 |
17,328,772 |
-9.03 |
19,047,880 |
3,640,848 |
262 |
|
|
Cash |
6,832,307 |
42.52 |
4,794,034 |
-8.26 |
5,225,901 |
744,376 |
817 |
|
|
other amounts receivable |
209,481 |
-17.63 |
254,312 |
-16.41 |
304,220 |
1,720,869 |
-87.83 |
|
|
Miscellaneous current assets |
130,294 |
-20.49 |
163,865 |
-10.46 |
183,006 |
169,312 |
-23.05 |
|
|
Total current assets |
32,044,417 |
-5.46 |
33,895,126 |
-19.60 |
42,156,236 |
8,070,397 |
297 |
|
|
Total Assets |
36,527,772 |
-8.16 |
39,771,911 |
-13.94 |
46,214,569 |
16,116,913 2,413,456 |
126 |
|
CURRENT LIABILITIES |
||||||||
|
|
Trade
creditors |
6,147,320 |
-8.99 |
6,754,615 |
-17.79 |
8,216,303 |
2,058,245 |
198 |
|
|
Short term
group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial
debts |
- |
- |
5,392,111 |
-18.92 |
6,650,374 |
3,836,416
656,455 |
- |
|
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
250,289 88,552 |
- |
|
|
Amounts
Payable for Taxes, Remuneration & Social Security |
1,844,465 |
41.85 |
1,300,276 |
-21.79 |
1,662,497 ! |
50,498 - 437 |
|
|
|
Miscellaneous
current liabilities |
3,984,058 |
-5.18 |
4,201,745 |
24.55 |
3,373,511 |
386 |
-- |
|
|
Total
current liabilities |
11,975,843 |
-32.14 |
17,648,748 |
-11.32 |
19,902,685 |
5,192,514 |
130 |
|
|
LONG TERM
DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Long term
group loans |
- |
- |
- |
- |
- |
- |
-- |
|
|
Other long
term loans |
- |
- |
- |
- |
- |
- |
-- |
|
|
Deffered
taxes |
- |
- |
- |
- |
- |
113,651 17,533 |
- |
|
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
140,293 0 |
■100 |
|
|
Other long
term liabilities |
0 |
- |
0 |
- |
0 |
36,278 |
-100 |
|
|
Total long
term debts |
0 |
- |
0 |
- |
0 |
1,995,551 |
-100 |
|
SHAREHOLDERS EQUITY |
||||||||
|
|
Issued share
capital |
125,000 |
0 |
125,000 |
0 |
125,000 |
2,632,167 |
-95.25 |
|
|
Share
premium account |
- |
- |
- |
- |
- |
19,922,546 |
- |
|
|
Reserves |
24,426,929 |
11.04 |
21,998,163 |
-16.00 |
26,186,884 |
4,401,109 |
455 |
|
|
Revaluation
reserve |
- |
- |
- |
- |
- |
408,308 |
- |
|
|
Total
shareholders equity |
24,551,929 |
10.98 |
22,123,163 |
-15.92 |
26,311,884 |
8,928,848 |
174 |
|
|
Working
capital |
20,068,574 |
23.53 |
16,246,378 |
-26.99 |
22,253,551 |
2,877,882 |
597 |
|
|
Cashflow |
5,517,157 |
4.35 |
5,287,288 |
-2.71 |
5,434,417 |
965,141 |
471 |
|
|
Net worth |
24,538,184 |
11.03 |
22,099,828 |
-16.01 |
26,311,884 |
8,838,801 |
177 |
|
ratio
analysis |
||||||||
|
|
Annual
accounts |
30-09-2013 |
change(%) |
30-09-2012 |
change(%) |
30-09-2011 |
Industry
average 2013 |
% |
|
TRADING PERFORMANCE |
||||||||
|
|
Profit
Before Tax |
4.51 |
6.12 |
4.25 |
-17.48 |
5.15 |
9,00 |
-49.89 |
|
|
Return on capital employed |
22.43 |
-8.64 |
24.55 |
3.54 |
23.71 |
6,00 |
273 |
|
|
Return on total assets employed |
15.08 |
10.48 |
13.65 |
1.11 |
13.50 |
3,00 |
402 |
|
|
Return on net assets employed |
22.43 |
-8.64 |
24.55 |
3.54 |
23.71 |
8,00 |
180 |
|
|
Sales /
net working capital |
6.08 |
-22.74 |
7.87 |
44.67 |
5.44 |
2,00 |
-99 |
|
|
Stock
turnover ratio |
9.58 |
7.88 |
8.88 |
-38.20 |
14.37 |
8,00 |
19.75 |
|
|
Debtor
days |
39.43 |
-20.33 |
49.49 |
-13.81 |
57.42 |
90,63 |
-56.49 |
|
|
Creditor
days |
19.31 |
-4.36 |
20.19 |
-23.26 |
26.31 |
65,43 |
-70.49 |
|
SHORT TERM STABILITY |
||||||||
|
|
Current
ratio |
2.68 |
39.58 |
1.92 |
-9.43 |
2.12 |
10,00 |
34.00 |
|
|
Liquidity
ratio / acid ratio |
1.70 |
32.81 |
1.28 |
3.23 |
1.24 |
10,00 |
-83.00 |
|
|
Current
debt ratio |
0.49 |
-38.75 |
0.80 |
5.26 |
0.76 |
2,00 |
-75.50 |
|
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
||||||||
|
|
Gearing |
- |
- |
24.37 |
-3.60 |
25.28 |
136,00 |
- |
|
|
Equity in
percentage |
67.24 |
20.80 |
55.66 |
-2.23 |
56.93 |
21,00 |
220 |
|
|
Total debt
ratio |
0.49 |
-38.75 |
0.80 |
5.26 |
0.76 |
3,00 |
-83.67 |
|
Payment
expectation days |
19.31 |
|
Day sales
outstanding |
39.43 |
|
Industry
comparison |
|
|
Activity
code |
10910 |
|
Activity
description |
Manufacture
of prepared feeds for farm animals |
|
Industry
average payment expectation days |
65.43 |
|
Industry average day sales
outstanding |
90.63 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
19.31 |
|
Lower |
80.13 |
|
Median |
54.97 |
|
Upper |
35.99 |
|
Day sales
outstanding |
|
|
Company
result |
39.43 |
|
Lower |
49.71 |
|
Median |
36.47 |
|
Upper |
18.41 |
Amount -
Details -
Payment expectations
Payment expectation days 19.31
Day sales outstanding 39.43
Industry comparison
Activity code 10910
Activity description Manufacture of prepared feeds for farm animals
Current director details
Name YVES
ROGER OLGA VANDEN AVENNE
Position Managing
Director
Start Date 01/01/2001
Street 12
MASTENDREEF SCHILDE
Post code 2970
Country Belgium
Position Legal
Representative
Start Date 03/05/2004
Street 12
MASTENDREEF SCHILDE
Post code 2970
Country Belgium
Name VEVY
NV
Position Director
Start Date 03/05/2004
Date of birth 21/08/1991
Street 12
MASTENDREEF SCHILDE
Post code 2970
Country Belgium
Position Legal
Representative
Start Date 03/05/2004
Date of birth 21/08/1991
Street 12
MASTENDREEF SCHILDE
Post code 2970
Country Belgium
Name GEORGALEX
NV
Position Director
Start Date 03/05/2004
Date of birth 16/04/1993
Street 73
ISSCHOTWEG HEIST-OP-DEN-BERG
Post code 2222
Country Belgium
Position Legal
Representative
Start Date 03/05/2004
Date of birth 16/04/1993
Street 73
ISSCHOTWEG HEIST-OP-DEN-BERG
Post code
2222
Country Belgium
Former director details
Name VEVY
NV
Position Managing
Director
Start Date 03/05/2004
End Date 02/05/2010
Date of birth 21/08/1991
Street 12
MASTENDREEF SCHILDE
Post code 2970
Country Belgium
Name GEORGALEX
NV
Position Managing
Director
Start Date 03/05/2004
End Date 02/05/2010
Date of birth 16/04/1993
Street 73
ISSCHOTWEG HEIST-OP-DEN-BERG
Post code 2222
Country Belgium
Name PAUL DE BOECK
Position Director
Start Date 07/05/2008
End Date 30/09/2011
Street 81
BROEKSTRAAT MEISE
Post code 1860
Country Belgium
Name MARC
VANDEN AVENNE
Position Director
Start Date 15/05/1993
End Date Unknown
date
Date of birth 23/05/1964
Street 3
MAALHOFDIJK HEIST-OP-DEN-BERG
Post code
2220
Country Belgium
Name JJ
INTERNATIONAL BVBA
Position Director
Start Date 07/05/2008
End Date 30/09/2011
Date of birth 07/09/1999
Street 75
VAGEVUURVELDEN BRASSCHAAT
Post code 2930
Country Belgium
Position Legal
Representative
Start Date 02/05/2006
End Date Unknown
date
Date of birth 07/09/1999
Street 75
VAGEVUURVELDEN BRASSCHAAT
Post code 2930
Country Belgium
Name JAN
DE BEUCKER
Position Legal
Representative
Start Date 02/05/2006
End Date Unknown
date
Date of birth 11/11/1967
Street 33
RICHARDSTRAAT ANTWERPEN
Post code 2060
Country Belgium
Name WILLEM
VERHAEGEN
Position Director
Start Date 01/01/2006
End Date 18/09/2009
Street 17
LANGVELDSTRAAT HEIST-OP-DEN-BERG
Post code 2220
Country Belgium
Name CELARSA
NV
Position Director
Start Date 11/10/2007
End Date Unknown
date
Date of birth 18/03/1988
Street 12
MASTENDREEF SCHILDE
Post code 2970
Country Belgium
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.77.95 |
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.