|
Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLORIOUS GEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.10.1997 |
|
|
|
|
Com. Reg. No.: |
461869854 |
|
|
|
|
Legal Form : |
Private
Limited Company (BL/LX) |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALE OF DIAMONDS AND OTHER
PRECIOUS STONES |
|
|
|
|
No. of Employees : |
1 |
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 : |
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) |
|
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 461869854
Company name GLORIOUS
GEMS BVBA
Address HOVENIERSSTRAAT
30
2018 ANTWERPEN
Number of staff 1
Date of establishment 28/10/1997
Telephone number 032317406
Fax number 032317406
The business was established over 16 years ago.
The business has 1 employees.
The business has been at the address for over 8 years.
Net Worth increased by 31% during the latest trading period.
Accounts
|
Accounts |
||||
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET
WORTH |
WORKING
CAPITAL |
|
31/12/2012 |
189,980,545 |
474,914 |
16,884,211 |
20,946,659 |
|
31/12/2011 |
217,816,241 |
396,698 |
12,888,166 |
13,800,672 |
|
31/12/2010 |
163,241,267 |
311,480 |
12,162,116 |
13,089,436 |
|
Accounts |
||||
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
72,252,277 |
1 |
15,417,960 |
468,182 |
|
31/12/2011 |
70,817,191 |
1 |
11,825,370 |
367,015 |
|
31/12/2010 |
38,294,717 |
2 |
11,450,520 |
307,932 |
Payment
expectations
|
Past
payments |
|
Payment
expectation days |
31.28 |
|
Industry
average payment expectation days |
164.01 |
Industry
average day sales outstanding |
119.76 |
|
Day
sales outstanding |
116.11 |
||
|
Court
data summary |
|||
|
BANKRUPTCY
DETAILS |
|||
|
Court
action type |
no |
||
|
Business
number |
461869854 |
Company
name |
GLORIOUS
GEMS BVBA |
|
Fax
number |
032317406 |
Date
founded |
28/10/1997 |
|
Company
status |
active |
Company
type |
Private
Limited Company (BL/LX) |
|
Currency |
Euro
(€) |
Date
of latest accounts |
31/12/2012 |
|
Activity
code |
46761 |
liable
for VAT |
yes |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
VAT
Number |
BE.0461.869.854 |
|
Belgian
Bullettin of Acts Publications |
moniteur
belge |
|
|
|
Social
Balance Sheet |
Total |
|
During
the reporting year ended 31-12-2012 |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
2 |
|
Total
Fte Employees |
2 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
2,541 |
|
Total |
2,541 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
49,320 |
|
Total |
49,320 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
2 |
|
Actual
working hours |
3,507 |
|
Personnel
Charges |
74,170 |
|
Benefits
In Addition To Wages |
- |
|
Social
Balance Sheet |
Total |
|
During
the reporting year ended 31-12-2012 |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
2 |
|
Total
Fte Employees |
2 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
2,541 |
|
Total |
2,541 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
49,320 |
|
Total |
49,320 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
2 |
|
Actual
working hours |
3,507 |
|
Personnel
Charges |
74,170 |
|
Benefits
In Addition To Wages |
- |
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
Unlimited
Duration Contracts |
- |
2 |
2 |
|
Limited
Duration Contracts |
- |
- |
- |
|
Contracts
For Specific Work |
- |
- |
- |
|
Contracts
Regarding Substitution |
- |
- |
- |
|
Gender
and Education Level |
|
||
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
- |
1 |
1 |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
- |
1 |
1 |
|
Secondairy
education |
- |
- |
- |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
|
|||
|
Working
Category |
Full-Time |
Part-Time |
Total
Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
- |
2 |
2 |
|
Blue
collar worker |
- |
- |
- |
|
Other |
- |
- |
- |
|
|
|||
|
Temporary
personnel |
Total |
||
|
Average
number of temporary staff |
- |
||
|
Actual
working hours |
- |
||
|
Cost
of temporary staff |
- |
||
|
|
|||
|
New
staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
New
Starters |
- |
- |
- |
|
Leavers |
- |
- |
- |
Personnel
(NSSO classification)
|
Code |
- |
|
Description |
FROM
1 TO 4 EMPLOYEES |
|
Joint
Industrial Committee (JIC) |
|
|
Significant
Events |
|
|
Event
Date |
29/03/2012 |
|
Event
Description |
|
|
Event
Details |
Mangukiya
Rahul schrijft in op de 1480 nieuwe aandelen. |
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
189,980,545 |
-12.78 |
217,816,241 |
33.43 |
163,241,267 |
46,537,630 |
308 |
|
Total operating expenses |
187,951,572 |
-12.99 |
216,011,887 |
33.43 |
161,891,674 |
46,145,645 |
307 |
|
Operating result |
2,028,973 |
12.45 |
1,804,354 |
33.70 |
1,349,593 |
147,590 |
1274 |
|
Total financial income |
39 |
-72.73 |
143 |
257 |
40 |
97,743 |
-99 |
|
Total financial expenses |
1,554,098 |
10.39 |
1,407,799 |
35.61 |
1,038,153 |
204,361 |
660 |
|
Results on ordinary
operations before taxation |
474,914 |
19.72 |
396,698 |
27.36 |
311,480 |
32,848 |
1345 |
|
Taxation |
50,832 |
-26.11 |
68,793 |
96.87 |
34,944 |
20,918 |
143 |
|
Results on ordinary
operations after taxation |
424,082 |
29.33 |
327,905 |
18.58 |
276,536 |
18,016 |
2253 |
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
-4,395 |
0 |
|
Other appropriations |
-1 |
- |
0 |
- |
0 |
- |
- |
|
Net result |
424,081 |
29.33 |
327,905 |
18.58 |
276,536 |
13,640 |
3009 |
|
OTHER INFORMATION |
|||||||
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director remuneration |
101,331 |
-2.55 |
103,981 |
- |
- |
114,302 |
-11.35 |
|
Employee costs |
49,320 |
-34.79 |
75,638 |
34.27 |
56,334 |
125,948 |
-60.84 |
|
Wages and salary |
40,205 |
-35.80 |
62,625 |
29.91 |
48,205 |
105,678 |
-61.96 |
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social security
contributions |
8,229 |
-34.30 |
12,525 |
59.74 |
7,841 |
26,585 |
-69.05 |
|
Other employee costs |
886 |
81.56 |
488 |
69.44 |
288 |
4,360 |
-79.68 |
|
Amortization and depreciation |
44,101 |
12.76 |
39,110 |
24.57 |
31,396 |
17,895 |
146 |
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
1,553 |
-100 |
|
Tangible fixed assets |
593,311 |
4.53 |
567,614 |
5.00 |
540,566 |
185,189 |
220 |
|
Land & building |
480,404 |
-5.77 |
509,820 |
-1.47 |
517,433 |
362,988 |
32.35 |
|
Plant & machinery |
9,932 |
20.61 |
12,510 |
-13.25 |
14,420 |
22,664 |
56.18 |
|
Furniture & Vehicles |
102,975 |
127 |
45,283 |
419 |
8,712 |
17,327 5,364 |
494 |
|
Leasing & Other
Similar Rights |
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
Other tangible assets |
0 |
-100 |
1 |
0 |
1 |
7,634 |
-100 |
|
Financial fixed assets |
531 |
284 |
138 |
2.99 |
134 |
307,703 |
-99 |
|
Total fixed assets |
593,841 |
4.60 |
567,752 |
5.00 |
540,700 |
396,856 |
49.64 |
|
Inventories |
10,908,214 |
50.70 |
22,127,095 |
84.53 |
11,990,759 |
3,093,934 |
252 |
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,399 |
-100 |
|
Finished goods |
10,908,214 |
50.70 |
22,127,095 |
84.53 |
11,990,759 |
1,982,203 |
450 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
571,885 |
-100 |
|
Trade debtors |
60,434,121 |
26.58 |
47,743,116 |
92.73 |
24,771,514 |
4,167,122 |
1350 |
|
Cash |
307,600 |
17.57 |
373,148 |
-62.17 |
986,477 |
226,208 |
35.98 |
|
other amounts receivable |
5,544 |
72.50 |
3,214 |
-38.99 |
5,268 |
185,906 |
97.02 |
|
Miscellaneous current assets |
2,957 |
3.18 |
2,866 |
286600 |
-1 |
18,028 |
83.60 |
|
Total current assets |
71,658,436 |
2.01 |
70,249,439 |
86.07 |
37,754,017 |
7,215,183 |
893 |
|
Total Assets |
72,252,277 |
2.03 |
70,817,191 |
84.93 |
38,294,717 |
7,579,247 1,446,080 |
853 |
|
CURRENT LIABILITIES |
|||||||
|
Trade creditors |
16,109,518 |
38.77 |
26,311,628 |
98.17 |
13,277,189 |
3,040,360 |
429 |
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
34,127,770 |
31.39 |
25,974,041 |
131 |
11,227,100 |
4,261,350
189,666 |
700 |
|
Current portion of long term debt |
37,577 |
4.91 |
35,819 |
4.13 |
34,399 |
110,204 15,373 |
65.90 |
|
Amounts Payable for Taxes, Remuneration & Social
Security |
82,875 |
72.44 |
48,061 |
91.86 |
25,050 |
9,709 - |
144 |
|
Miscellaneous current liabilities |
354,037 |
91.32 |
4,079,218 |
3945 |
100,843 |
19.15 |
- - |
|
Total current liabilities |
50,711,777 |
10.16 |
56,448,767 |
128 |
24,664,581 |
5,342,128 |
849 |
|
LONG TERM DEBTS AND LIABILITIES |
|||||||
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other long term loans |
4,656,288 |
214 |
1,480,258 |
0.83 |
1,468,020 |
323 |
- - |
|
Deffered taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,184 0 |
-100 |
|
Other long term liabilities |
1 |
- |
0 |
- |
0 |
128,672 |
-99 |
|
Total long term debts |
4,656,289 |
214 |
1,480,258 |
0.83 |
1,468,020 |
559,214 |
732 |
|
SHAREHOLDERS EQUITY |
|||||||
|
Issued share capital |
15,417,960 |
30.38 |
11,825,370 |
3.27 |
11,450,520 |
943,974 |
1533 |
|
Share premium account |
- |
- |
- |
- |
- |
109,362 |
- |
|
Reserves |
1,466,251 |
37.96 |
1,062,796 |
49.35 |
711,596 |
690,619 |
112 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total
shareholders equity |
16,884,211 |
31.01 |
12,888,166 |
5.97 |
12,162,116 |
1,664,274 |
914 |
|
Working
capital |
20,946,659 |
51.78 |
13,800,672 |
5.43 |
13,089,436 |
1,873,055 |
1018 |
|
Cashflow |
468,182 |
27.56 |
367,015 |
19.19 |
307,932 |
28,425 |
1547 |
|
Net
worth |
16,884,211 |
31.01 |
12,888,166 |
5.97 |
12,162,116 |
1,661,040 |
916 |
|
Annual accounts |
31-12-2012 |
Change (%) |
31-12-2011 |
Change (%) |
31-12-2010 |
Industry
average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.25 |
38.89 |
0.18 |
-5.26 |
0.19 |
-25,00 |
1.00 |
|
Return
on capital employed |
2.20 |
-20.29 |
2.76 |
20.52 |
2.29 |
29,00 |
-92.41 |
|
Return
on total assets employed |
0.66 |
17.86 |
0.56 |
-30.86 |
0.81 |
-201,00 |
0.33 |
|
Return
on net assets employed |
2.81 |
-8.77 |
3.08 |
20.31 |
2.56 |
19,00 |
-85.21 |
|
Sales
/ net working capital |
9.07 |
-42.52 |
15.78 |
26.54 |
12.47 |
45,00 |
-99 |
|
Stock
turnover ratio |
5.74 |
-43.50 |
10.16 |
38.23 |
7.35 |
111,00 |
-94.83 |
|
Debtor
days |
116.11 |
45.14 |
80 |
44.43 |
55.39 |
133,00 |
-12.70 |
|
Creditor
days |
31.28 |
-29.64 |
44.46 |
48.55 |
29.93 |
122,00 |
-74.36 |
|
SHORT TERM STABILITY |
|||||||
|
Current
ratio |
1.41 |
13.71 |
1.24 |
-18.95 |
1.53 |
7,00 |
-84.33 |
|
Liquidity
ratio / acid ratio |
1.20 |
41.18 |
0.85 |
-18.27 |
1.04 |
4,00 |
-70.00 |
|
Current
debt ratio |
3 |
-31.51 |
4.38 |
115 |
2.03 |
9,00 |
-66.67 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|||||||
|
Gearing |
229.93 |
7.80 |
213.30 |
103 |
104.67 |
360,00 |
-36.13 |
|
Equity
in percentage |
23.37 |
28.41 |
18.20 |
-42.70 |
31.76 |
-3.211,00 |
0.73 |
|
Total
debt ratio |
3.28 |
-26.95 |
4.49 |
108 |
2.15 |
10,00 |
-67.20 |
|
Payment
expectations |
|
|
Payment
expectation days |
31.28 |
|
Day
sales outstanding |
116.11 |
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
|
Industry
average payment expectation days |
164.01 |
|
Industry
average day sales outstanding |
119.76 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
31.28 |
|
Lower |
134.34 |
|
Median |
84.60 |
|
Upper |
45.33 |
|
Day
sales outstanding |
|
|
Company
result |
116.11 |
|
Lower |
112.48 |
|
Median |
58.56 |
|
Upper |
28.09 |
Group
Structure
No
group structure for this company.
Minority
Shareholders
No
minority shareholders found
Minority
Interests
No
minority interests found
|
SHAREHOLDER
NAME |
|||
|
Forename |
Mayur |
Middle
name |
- |
|
Surname |
Mangukiya |
|
|
|
SHAREHOLDER
DETAILS |
|||
|
Start
date |
06/01/2010(estimated) |
End
date |
- |
|
Percentage
owned |
- |
|
|
|
SHAREHOLDER
ADDRESS |
|||
|
Street
name |
Quinten
Matsijslei |
House
number |
49A |
|
Minor
town |
- |
Postal
town |
Antwerpen |
|
Post
code |
2018 |
Country |
Belgium |
|
|
|||
|
|
|||
|
SHAREHOLDER
NAME |
|||
|
Forename |
Kishor |
Middle
name |
- |
|
Surname |
Kakadia |
|
|
|
SHAREHOLDER
DETAILS |
|||
|
Start
date |
06/01/2010(estimated) |
End
date |
- |
|
Percentage
owned |
- |
|
|
|
SHAREHOLDER
ADDRESS |
|||
|
Street
name |
Van
Eycklei |
House
number |
24 |
|
Minor
town |
- |
Postal
town |
Antwerpen |
|
Post
code |
2018 |
Country |
Belgium |
|
|
|||
|
|
|||
|
SHAREHOLDER
NAME |
|||
|
Forename |
Rahul |
Middle
name |
- |
|
Surname |
Mangukiya |
|
|
|
SHAREHOLDER
DETAILS |
|||
|
Start
date |
05/07/2012(estimated) |
End
date |
- |
|
Percentage
owned |
- |
|
|
|
SHAREHOLDER
ADDRESS |
|||
|
Street
name |
- |
House
number |
- |
|
Minor
town |
- |
Postal
town |
- |
|
Post
code |
- |
Country |
India |
|
NSSO
details |
|
|
Business
number |
461869854 |
|
Name
of defendant |
- |
|
Legal
form of defendant |
- |
|
Date
of summons |
- |
|
Labour
court |
- |
Bankruptcy
details
There
is no bankruptcy data against this company
court
data
there
is no data for this company
Current
director details
|
Name |
MAYURKUMAR
MANUBHAI MANGUKIYA |
|
Position |
Principal
Manager |
|
Start
Date |
28/09/2004 |
|
Street |
49
QUINTEN MATSIJSLEI ANTWERPEN |
|
Post
code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
KISHOR
KANJIBHAI KAKADIA |
|
Position |
Principal
Manager |
|
Start
Date |
23/06/2004 |
|
Street |
24
VAN EYCKLEI ANTWERPEN |
|
Post
code |
2018 |
|
Country |
Belgium |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
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.