MIRA INFORM REPORT

 

 

Report Date :

20.10.2014

 

IDENTIFICATION DETAILS

 

Name :

WIND-FIX EUROPE B.V.

 

 

Registered Office :

Bokkerijder 24 5571MX Bergeijk

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.06.1982

 

 

Com. Reg. No.:

17079017

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacture of other metal products

 

 

No. of Employees :

01

 

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)

Netherlands

B1

B1

 

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 and address

 

Company name

WIND-FIX EUROPE B.V.

Operative address

Bokkerijder 24 5571MX Bergeijk Netherlands

 

Status

Active

Legal form

Private Company

Registration number

KvK-nummer: 17079017

VAT-number

801736183

 

 

Year

2013

 

Mutation

2012

 

Mutation

2011

Fixed assets

 

 

 

 

 

-100,00

1.109

Total receivables

454.992

4

-48,33

880.495

 

-44,79

1.594.952

 

Total equity

-808.666

 

8,32

-882.091

 

-18,60

-743.749

Short term liabilities

1.274.072

 

-29,55

1.808.600

 

-24,64

2.400.002

 

Working capital

-808.666

 

8,32

-882.090

 

-18,42

-744.858

Quick ratio

0,36

4

-29,41

0,51

 

-22,73

0,66

 

 

 

 

 

Contact information

 

Company name            Wind-Fix Europe B.V.

Trade names                Wind-Fix Europe

Operative address        Bokkerijder 24

5571MX Bergeijk

Netherlands

 

Correspondence address         Postbus 93

5570AB Bergeijk

Netherlands

Telephone number                   0497 552929

Fax number                              0497 552929

Email address                          info@multifix.n

Website                                    www.multifix.nl

 

 

Registration

 

Registration number                KvK-nummer: 17079017

Registered in                            Kamer van Koophandel Brabant

Branch number                                    000020557043

VAT-number                             801736183

Status                                     Active

 

First registration company register      1993-03-31

Memorandum                                       1993-03-29

Establishment date                              1982-06-01

Legal form                                           Private Company

Last proposed admendment                 2007-11-13

 

 

Activities

 

SBI                   Manufacture of other metal products n.e.c. (2599)

Exporter           Yes

Importer           Yes

Goal                 In- en verkopen, het im- en exporteren en het (laten) produceren van producten gemaakt van Metal

 

Relations

 

Shareholders               Multi-fix Group B.V.

Bokkerijder 24

5571MX Bergeijk

Netherlands

Registration number:   171791360000

Percentage:                  100%

Companies on same address Amount: 11

 

 

Management

 

Active management      Multi-fix Group B.V.

Bokkerijder 24

5571MX Bergeijk

Netherlands

Registration number:   171791360000

Competence:                Fully authorized

Function:                     Manager

Starting date                : 2005-06-23

 

 

Employees

 

Year     2012     2011     2010     2009     2008

Total    1          1          3          1          1

 

 

 

 

Payments

 

Description Payments are made regularly no complaints are known

 

Key figures

 

Year

2013

2012

2011

2010

Quick ratio

0,36

0,51

0,66

0,61

Current ratio

0,37

0,51

0,69

0,65

 

Working capital/ balance total

-1,74

-0,95

-0,45

-0,55

Equity / balance total

-1,74

-0,95

-0,45

-0,55

Equity / Fixed assets

 

 

-670,65

 

Equity / liabilities

-0,63

-0,49

-0,31

-0,35

Balance total / liabilities

0,37

0,51

0,69

0,65

 

Working capital

-808.666

-882.090

-744.858

-529.275

Equity

-808.666

-882.091

-743.749

-529.275

Mutation equity

8,32

-18,60

-40,52

 

Mutation short term liabilities

-29,55

-24,64

60,17

 

 

 

Summary

 

The 2013 financial result structure is a negative working captial of -808.666 euro, which is in

agreement with -174 % of the total assets of the company.

The working capital has increase with 8.32 % compared to previous year. The ratio with

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

The improvement between 2012 and 2013 has mainly been caused by a current liabilities

reduction.

 

The current ratio of the company in 2013 was 0.37. When the current ratio is below 1.5, the

company may have problems meeting its short-term obligations.

The quick ratio in 2013 of the company was 0.36. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

The 2012 financial result structure is a negative working captial of -882.090 euro, which is in

agreement with -95 % of the total assets of the company.

The working capital has diminished with -18.42 % 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 0.51. 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 0.51. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

 

 

Financial statement

 

Last annual account                 2013

Remark annual account            The company is obliged to file its financial statements.

Type of annual account Corporate

Annual account Wind-Fix Europe B.V.

Bokkerijder 24

5571MX Bergeijk

 

 

Balance

 

 

2013-12-31

2012-12-31

2011-12-31

2010-12-31ce

 

Tangible fixed assets

 

 

1.109

 

 

Fixed assets

 

 

1.109

 

 

Total stock

5.578

5.883

60.192

49.864

 

Total receivables

454.992

880.495

1.594.952

919.297

 

Liquid funds

4.836

40.132

 

 

Current assets

465.406

926.510

1.655.144

969.161

 

Total assets

465.406

926.510

1.656.253

969.161

 

 

Issued capital

18.945

18.945

18.945

18.945

Other reserves

-827.611

-901.035

-762.694

-548.221

Total reserves

-827.611

-901.035

-762.694

-548.221

Total equity

-808.666

-882.091

-743.749

-529.275

 

 

Short term liabilities

1.274.072

1.808.600

2.400.002

1.498.436

 

Total short and long term liabilities

1.274.072

1.808.600

2.400.002

1.498.436

 

Total liabilities

465.406

926.510

1.656.253

969.161

 

 

 

Summary

 

The total assets of the company decreased with -49.77 % between 2012 and 2013.

The asset reduction is in contrast with the equity growth of 8.32 %. Due to this the total debt

decreased with -29.55 %.

The total assets of the company decreased with -44.06 % between 2011 and 2012.

Assets reduction is explained by a Net Worth decrease of -18.6 %, and an indebtedness

reduction of -24.64 %.

 

 

 

 

 

Analysis

 

Branch (SBI) Manufacture of fabricated metal products, except machinery and equipment (25)

Region Zuid-Oost-Brabant

In the Netherlands 12215 of the companies are registered with the SBI code 25

In the region Zuid-Oost-Brabant 898 of the companies are registered with the SBI code 25

In the Netherlands 347 of the bankrupcties are published within this sector

In the region Zuid-Oost-Brabant 18 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-Oost-Brabant is normal

 

Publications

 

Filings                         21-07-2014: De jaarrekening over 2013 is gepubliceerd.

15-10-2013: De jaarrekening over 2012 is gepubliceerd.

15-02-2013: De jaarrekening over 2011 is gepubliceerd.

27-02-2012: De jaarrekening over 2010 is gepubliceerd.

 

 

Company structure

 

Stichting Toekomst Burgmans

Bokkerijder 24

5571MX BERGEIJK

Netherlands

Registration number: 171569510000

 

• Burgmans A.F. Beheer B.V.

Bokkerijder 24

5571MX BERGEIJK

Netherlands

Registration number: 170788000000

 

• Multi-fix Group B.V.

Bokkerijder 24

5571MX Bergeijk

Netherlands

Registration number: 171791360000

 

• Wind-Fix Europe B.V.

Bokkerijder 24

5571MX Bergeijk

Netherlands

Registration number: 170790170000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.62

UK Pound

1

Rs.99.12

Euro

1

Rs.78.89

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

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.