|
Report Date : |
06.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
J. PINCHASI & SONS BVBA |
|
|
|
|
Registered Office : |
Schupstraat1 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03/11/1969 |
|
|
|
|
Com. Reg. No.: |
404955402 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALE OF WATCHES AND JEWELLERY |
|
|
|
|
No. of Employees : |
21 |
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 |
A1 |
|
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 |
404955402 |
|
Company name |
J.
PINCHASI & SONS BVBA |
|
Address |
SCHUPSTRAAT1 |
|
|
2018 ANTWERPEN |
|
Number of staff |
21 |
|
Date of establishment |
03/11/1969 |
|
Telephone number |
032269295 |
|
Fax number |
032326397 |
|
The business was established over 44
years ago. |
|
The business has 20 employees. |
|
The business has been at the
address for over 7 years. |
|
Operating Result in the latest
trading period decreased 38% on the previous trading period. |
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2013 |
150,491,976 |
105,088 |
29,490,351 |
30,795,884 |
|
31/12/2012 |
162,494,386 |
93,966 |
29,459,899 |
30,780,423 |
|
31/12/2011 |
184,745,643 |
435,924 |
29,398,032 |
30,666,955 |
|
DATE OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
75,845,656 |
21 |
7,500,000 |
98,060 |
|
31/12/2012 |
80,684,389 |
22 |
7,500,000 |
133,084 |
|
31/12/2011 |
90,638,192 |
23 |
7,500,000 |
345,514 |
|
Past payments |
|
Payment
expectation days |
40.57 |
|
Industry average payment |
240.89 |
Industry
average day sales |
341.98 |
|
expectation days |
|
outstanding |
|
|
Day sales outstanding |
123.80 |
|
|
Business number 404955402
Company name J. PINCHASI &
SONS BVBA
Fax number 032326397
Date founded 03/11/1969
Company status active
Company type Private Limited
Company (BL/LX)
Currency Euro (€)
Date of latest accounts 31/12/2013
Activity code 46480
Liable for
VAT yes
Activity description Wholesale of watches and Jewellery
VAT Number BE.0404.955.402 Check
|
|
|
|
|
|
Social Balance Sheet |
Total |
|
|
|
During the reporting year |
|
|
|
|
ended 31-12-2013 |
|
|
|
|
Full-time Employees |
19 |
|
|
|
Part-time Employees |
4 |
|
|
|
Total Fte Employees |
22 |
|
|
|
|
|||
|
Number of hours worked |
|||
|
Full-time Employees |
26,442 |
|
|
|
Part-time Employees |
5,430 |
|
|
|
Total |
31,872 |
|
|
|
|
|||
|
Personnel Charges |
|||
|
Full-time Employees |
587,420 |
|
|
|
Part-time Employees |
120,630 |
|
|
|
Total |
708,050 |
|
|
|
Benefits In Addition To Wages - |
|||
|
|
|||
|
During the previous reporting year |
|||
|
Average number employees in Fte |
22 |
|
|
|
Actual working hours |
31,350 |
|
|
|
Personnel Charges |
679,302 |
|
|
|
Benefits In Addition To Wages - |
|||
|
|
|||
|
|
|||
|
Type of Contract Full-Time |
Part-Time |
Total Fte |
|
|
Unlimited Duration 18 |
4 |
21 |
|
|
Contracts |
|
|
|
|
Limited Duration Contracts - -
- |
|||
|
Contracts For Specific - |
- |
- |
|
|
Work |
|
|
|
|
Contracts Regarding - |
- |
- |
|
|
Substitution |
|
|
|
|
|
|||
JIC Code 218
Description Additional
national joint committee for the employees
category
JIC Code 324
Description Joint committee
for the industry and the trade in diamant
category
Event Date 24/09/2013
Event Description
Event Details Het mandaat van de
heer Abraham Pinchasi zal vortaan kosteloos zijn.
Event Date 24/09/2013
Event Description
Event Details Het mandaat van de
heer Abraham Pinchasi zal vortaan kosteloos zijn.
|
Annual accounts |
31-12-2013 |
|
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
150,491,976 |
-7.39 |
162,494,386 |
-12.04 |
184,745,643 |
45,112,061 |
233 |
|
Total operating expenses |
148,573,578 |
-6.79 |
159,395,633 |
-12.79 |
182,776,502 |
44,981,110 |
230 |
|
|
|
|
|
|
|
|
|
|
Operating result |
1,918,399 |
-38.09 |
3,098,753 |
57.37 |
1,969,142 |
33,566 |
5615 |
|
Total financial income |
8,290,340 |
-16.70 |
9,952,591 |
-39.05 |
16,329,836 |
65,850 |
12489 |
|
Total financial expenses |
10,103,651 |
-22.02 |
12,957,378 |
-27.46 |
17,863,053 |
138,369 |
7201 |
|
Results on ordinary operations before taxation |
105,088 |
11.84 |
93,966 |
-78.44 |
435,924 |
-45,847 |
229 |
|
Taxation |
88,773 |
176 |
32,099 |
-80.85 |
167,621 |
76,081 |
16.68 |
|
Results on ordinary operations after taxation |
16,315 |
-73.63 |
61,867 |
-76.94 |
268,303 |
-99,745 |
16.36 |
|
Extraordinary items |
14,138 |
- |
0 |
0 |
-3,177 |
138,348 |
-89.78 |
|
Other appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result |
30,453 |
-50.78 |
61,867 |
-76.67 |
265,126 |
38,643 |
-21.20 |
|
OTHER
INFORMATION |
|
|
|
|
|
|
|
|
Gross Operating Margin |
- |
- |
- |
- |
- |
55,091 |
- |
|
Dividends |
- |
- |
- |
- |
- |
190,216 |
- |
|
Director remuneration |
- |
- |
410,000 |
- |
- |
115,581 |
- |
|
Employee costs |
708,050 |
4.23 |
679,302 |
19.11 |
570,306 |
209,502 |
237 |
|
Wages and
salary |
499,632 |
5.82 |
472,172 |
17.84 |
400,686 |
160,825 |
210 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
2,674 |
- |
|
Social
security contributions |
182,543 |
0.79 |
181,112 |
21.64 |
148,894 |
43,247 |
322 |
|
Other
employee costs |
25,874 |
-0.55 |
26,018 |
25.54 |
20,725 |
6,555 |
294 |
|
Amortization and depreciation |
67,607 |
-5.07 |
71,217 |
-11.41 |
80,388 |
22,511 |
200 |
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry
average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
3,623 |
-100 |
|
Tangible fixed assets |
691,170 |
2.22 |
676,179 |
-7.47 |
730,779 |
202,312 |
241 |
|
Land & building |
512,259 |
-2.40 |
524,867 |
-2.18 |
536,564 |
399,769 |
28.14 |
|
Plant & machinery |
74,875 |
-26.47 |
101,827 |
-11.23 |
114,709 |
20,718 |
261 |
|
Furniture & Vehicles |
104,035 |
110 |
49,485 |
-37.76 |
79,506 |
20,655 7,387 |
403 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
227,967 30,853 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
6,653 |
-100 |
|
Financial fixed assets |
3,297 |
0 |
3,297 |
0 |
3,297 |
629,410 |
-99 |
|
Total fixed assets |
694,467 |
2.21 |
679,476 |
-7.44 |
734,077 |
562,009 |
23.57 |
|
Inventories |
21,927,221 |
-16.22 |
26,171,269 |
-21.63 |
33,394,359 |
1,409,164 |
1456 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
4,217,108 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
59 |
-100 |
|
Finished goods |
21,927,221 |
-16.22 |
26,171,269 |
-21.63 |
33,394,359 |
742,312 |
2853 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
298,635 |
-100 |
|
Trade debtors |
51,042,428 |
-5.11 |
53,789,070 |
-4.71 |
56,448,928 |
2,084,882 |
2348 |
|
Cash |
1,200,760 |
3858 |
30,337 |
21.37 |
24,995 |
157,739 |
661 |
|
other amounts receivable |
909,458 |
25445 |
3,560 |
-78.66 |
16,682 |
319,997 |
184 |
|
Miscellaneous current assets |
71,322 |
568 |
10,676 |
-44.25 |
19,151 |
60,097 |
18.68 |
|
Total current assets |
75,151,189 |
-6.07 |
80,004,912 |
-11.01 |
89,904,115 |
3,704,152 |
1928 |
|
Total Assets |
75,845,656 |
-6.00 |
80,684,389 |
-10.98 |
90,638,192 |
4,179,979
300,933 |
1714 |
|
|
Trade creditors |
16,513,747 |
-4.24 |
17,245,127 |
-34.73 |
26,419,347 |
1,038,821 |
1489 |
|
Short term
group loans - - - - - - - |
||||||||
|
|
Financial debts |
27,257,827 |
-13.03 |
31,342,342 |
-2.07 |
32,006,396 |
3,030,690 26,030 |
799 |
|
|
Current portion of long term debt |
- |
- |
- |
- |
- |
155,939 17,514 |
- |
|
|
Amounts
Payable for Taxes, Remuneration & Social Security |
95,220 |
1.49 |
93,820 |
-54.56 |
206,452 |
9,074 - |
3.97 |
|
|
Miscellaneous current liabilities |
488,511 |
-10.07 |
543,201 |
-10.21 |
604,965 |
83.21 |
-- |
|
|
Total current liabilities |
44,355,305 |
-9.89 |
49,224,490 |
-16.90 |
59,237,160 |
2,455,977 |
1706 |
|
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
-- |
|
|
Other long term loans |
2,000,000 |
0 |
2,000,000 |
0 |
2,000,000 |
8.85 |
-- |
|
|
Deffered taxes |
- |
- |
- |
- |
- |
30,415 14,870 |
- |
|
|
Provisions for Liabilities &
Charges |
0 |
- |
0 |
- |
0 |
19,593 0 |
-100 |
|
|
Other long term liabilities |
0 |
- |
0 |
-100 |
3,000 |
40,057 |
-100 |
|
|
Total long term debts |
2,000,000 |
0 |
2,000,000 |
-0.15 |
2,003,000 |
715,231 |
179 |
|
SHAREHOLDERS
EQUITY |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Issued share capital |
7,500,000 |
0 |
7,500,000 |
0 |
7,500,000 |
653,401 |
1047 |
|
|
Share premium account |
- |
- |
- |
- |
- |
291,370 |
- |
|
|
Reserves |
21,990,351 |
0.14 |
21,959,899 |
0.28 |
21,898,032 |
335,305 |
6458 |
|
|
Revaluation reserve |
- |
- |
- |
- |
- |
517,878 |
- |
|
|
Total shareholders equity |
29,490,351 |
0.10 |
29,459,899 |
0.21 |
29,398,032 |
1,008,771 |
2823 |
|
|
Working capital |
30,795,884 |
0.05 |
30,780,423 |
0.37 |
30,666,955 |
1,248,175 |
2367 |
|
|
Cashflow |
98,060 |
-26.32 |
133,084 |
-61.48 |
345,514 |
56,535 |
73.45 |
|
|
Net worth |
29,490,351 |
0.10 |
29,459,899 |
0.21 |
29,398,032 |
1,005,148 |
2833 |
|
|
Annual accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry
average 2013 |
% |
|
TRADING
PERFORMANCE |
||||||||
|
|
||||||||
|
|
Profit Before Tax |
0.07 |
16.67 |
0.06 |
-75.00 |
0.24 |
-13,00 |
0.54 |
|
|
Return on
capital employed |
0.33 |
10.0 |
0.30 |
-78.42 |
1.39 |
417,00 |
-99 |
|
|
Return on
total assets employed |
0.14 |
16.67 |
0.12 |
-75.00 |
0.48 |
0,00 |
- |
|
|
Return on
net assets employed |
0.36 |
12.50 |
0.32 |
-78.38 |
1.48 |
402,00 |
-99 |
|
|
Sales / net working capital |
4.89 |
-7.39 |
5.28 |
-12.29 |
6.02 |
-47,00 |
-99 |
|
|
Stock turnover ratio |
14.57 |
-9.56 |
16.11 |
-10.90 |
18.08 |
50,00 |
-70.86 |
|
|
Debtor days |
123.80 |
2.47 |
120.82 |
8.33 |
111.53 |
341,98 |
-63.80 |
|
|
Creditor days |
40.57 |
2.73 |
39.49 |
-25.15 |
52.76 |
240,89 |
-83.16 |
|
SHORT TERM
STABILITY |
||||||||
|
|
Current ratio |
1.69 |
3.68 |
1.63 |
7.24 |
1.52 |
17,00 |
-98.34 |
|
|
Liquidity ratio / acid ratio |
1.20 |
10.09 |
1.09 |
14.74 |
0.95 |
14,00 |
-91.43 |
|
|
Current debt ratio |
1.50 |
-10.18 |
1.67 |
-17.33 |
2.02 |
102,00 |
-98.53 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM
STABILITY |
||||||||
|
|
Gearing |
99.21 |
-12.34 |
113.18 |
-2.16 |
115.68 |
77,00 |
28.84 |
|
|
Equity in percentage |
38.88 |
6.49 |
36.51 |
12.58 |
32.43 |
-263,00 |
14.78 |
|
|
Total debt ratio |
1.57 |
-9.77 |
1.74 |
-16.35 |
2.08 |
102,00 |
-98.46 |
Industry
comparison
|
||
|
Activity code |
46480 |
|
|
Activity description |
Wholesale
of watches and jewellery |
|
Payment Information Summary
Total number of Invoices available 5
Total number of Invoices paid within or up to 30 days after the due
date 1
Total number of Invoices paid more than 30 days after the due date 0
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 4
Payment expectation days 40.57
Day sales outstanding
123.80
Activity code 46480
Activity description Wholesale of
watches and jewellery
Industry
quartile analysis
|
|
|
Payment expectations |
|
|
Company result |
40.57 |
|
Lower |
129.57 |
|
Median |
63.03 |
|
Upper |
18.68 |
Company result 123.80
Lower 124.08
Median
55.66
Upper 22.31
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
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
Current director details
|
Name |
GAL PINCHASI |
|
Position |
Principal Manager |
|
Start Date |
14/08/2010 |
|
Street |
63 ZWALUWENLAAN ANTWERPEN |
|
Post code |
2610 |
|
Name |
ABRAHAM PINCHASI |
|
Position |
Principal Manager |
|
Start Date |
16/07/2001 |
|
Date of birth |
31/05/1966 |
|
Street |
13 ELSDONKLAAN ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.