|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL DIAMOND EXPORTERS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 53, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
05.12.1973 |
|
|
|
|
Com. Reg. No.: |
413636110 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and Other Precious Stones. |
|
|
|
|
No. of Employees : |
1 Employee |
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 413636110
Company name INTERNATIONAL
DIAMOND EXPORTERS BVBA
Address HOVENIERSSTRAAT
53, 2018 ANTWERPEN
Number of staff 0
Date of establishment 05/12/1973
Telephone number 032251080
Fax number 032251788
The business was established over 40 years ago.
The business has 1 employee.
The business has been at the address for over 11 years.
Pre-tax profits increased by 28% compared to the previous trading
period.
The business saw an increase in their Cash Balance of 816% during the
latest trading period.
DATE OF LATEST ACCOUNTS TURNOVER PROFIT BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 28,970,179 37,458 2,075,816 2,646,928
31/12/2012 35,269,919 29,198 2,036,199 3,061,775
31/12/2011 42,533,355 57,508 2,014,801 3,112,872
|
DATE
OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
9,858,281 |
0 |
20,000 |
62,697 |
|
31/12/2012 |
8,829,560 |
0 |
20,000 |
43,717 |
|
31/12/2011 |
10,432,734 |
0 |
20,000 |
112,020 |
Past payments
Payment expectation days 71.90
Industry average payment
expectation days 125.12
Industry average day sales
Outstanding 142.36
Day sales outstanding 59.20
Business number 413636110
Company name INTERNATIONAL
DIAMOND EXPORTERS BVBA
Fax number 032251788
Date founded 05/12/1973
Company status Active
Company type Private Limited
Company (BL/LX)
Currency Euro (€)
Date of latest accounts 31/12/2013
Activity code 46761
Liable for VAT yes
Activity description Wholesale of
diamonds and other precious stones
VAT Number BE.0413.636.110
Check VAT number
Belgian Bullettin of Acts Moniteur Belge
Publications
|
Code |
|
|
Description |
FROM
1 TO 4
EMPLOYEES |
|
Joint
Industrial Committee (JIC) |
|
|
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 |
||
Profit and Loss
|
|
Annual
accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry
average 2013 |
% |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
|
Turnover |
28,970,179 |
-17.86 |
35,269,919 |
-17.08 |
42,533,355 |
59,370,600 |
-51.20 |
|
|
Total
operating expenses |
28,781,782 |
-18.56 |
35,340,072 |
-17.48 |
42,823,571 |
58,883,130 |
-51.12 |
|
|
Operating
result |
188,396 |
268 |
-70,153 |
24.17 |
-290,216 |
156,526 |
20.36 |
|
|
Total
financial income |
0 |
-99 |
148,903 |
-62.84 |
400,745 |
62,455 |
-99 |
|
|
Total
financial expenses |
150,938 |
204 |
49,552 |
-6.54 |
53,021 |
181,319 |
-16.76 |
|
|
Results
on ordinary operations before taxation |
37,458 |
28.29 |
29,198 |
-49.23 |
57,508 |
37,961 |
-1.32 |
|
|
Taxation |
9,103 |
-21.28 |
11,563 |
122 |
5,201 |
21,933 |
-58.50 |
|
|
Results
on ordinary operations after taxation |
28,356 |
60.79 |
17,636 |
-66.28 |
52,307 |
21,877 |
29.62 |
|
|
Extraordinary
items |
7,500 |
- |
0 |
- |
0 |
6,727 |
11.49 |
|
|
Other
appropriations |
3761.85 |
0 |
3761.85 |
0 |
3761.85 |
- |
- |
|
|
Net
result |
39,618 |
85.15 |
21,398 |
-61.84 |
56,069 |
28,746 |
37.82 |
|
OTHER INFORMATION |
||||||||
|
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
33,424 |
- |
|
|
Dividends |
- |
- |
- |
- |
- |
231,279 |
- |
|
|
Director
remuneration |
- |
- |
90,612 |
7.13 |
84,582 |
125,568 |
- |
|
|
Employee
costs |
- |
- |
- |
- |
39,418 |
143,780 |
- |
|
|
Wages and salary |
- |
- |
- |
- |
26,120 |
113,720 |
- |
|
|
Employee pension costs |
- |
- |
- |
- |
- |
23,129 |
- |
|
|
Social security contributions |
- |
- |
- |
- |
7,362 |
27,897 |
- |
|
|
Other employee costs |
0 |
--0 |
0 |
-100 |
5,936 |
3,671 |
-100 |
|
|
Amortization
and depreciation |
23,079 |
3.40 |
22,319 |
-60.11 |
55,951 |
18,045 |
27.90 |
Balance Sheet
|
|
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 |
1,336 |
-100 |
|
|
Tangible
fixed assets |
495,171 |
2.45 |
483,332 |
-4.26 |
504,842 |
191,777 |
158 |
|
|
Land & building |
420,038 |
-3.83 |
436,774 |
-3.69 |
453,510 |
380,729 |
10.32 |
|
|
Plant & machinery |
19,440 |
227 |
5,929 |
-28.38 |
8,279 |
27,253 |
-28.67 |
|
|
Furniture & Vehicles |
16,854 |
842 |
1,789 |
-57.54 |
4,213 |
15,470
4,430 |
8.94 |
|
|
Leasing & Other
Similar Rights |
- |
- |
- |
- |
- |
68,636
20,725 |
|
|
|
Other tangible assets |
38,840 |
0 |
38,840 |
0 |
38,840 |
9,406 |
312 |
|
|
Financial
fixed assets |
10,581 |
0 |
10,581 |
0 |
10,581 |
226,079 |
-95.32 |
|
|
Total
fixed assets |
505,752 |
2.40 |
493,913 |
-4.17 |
515,423 |
331,930 |
52.37 |
|
|
Inventories |
4,489,216 |
0.09 |
4,485,041 |
-35.33 |
6,935,340 |
3,046,202 |
47.37 |
|
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
7,018,384 |
|
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
1,191 |
-100 |
|
|
Finished goods |
4,489,216 |
0.09 |
4,485,041 |
-35.33 |
6,935,340 |
2,052,814 |
118 |
|
|
Other stocks |
0 |
- |
0 |
- |
0 |
436,239 |
-100 |
|
|
Trade
debtors |
4,698,655 |
22.76 |
3,827,661 |
59.93 |
2,393,362 |
4,274,877 |
9.91 |
|
|
Cash |
157,589 |
816 |
17,202 |
-97.00 |
574,017 |
484,495,203 |
-99 |
|
|
other
amounts receivable |
3,432 |
12.11 |
3,061 |
8.30 |
2,827 |
222,433 |
-98.46 |
|
|
Miscellaneous
current assets |
3,637 |
35.57 |
2,682 |
-77.20 |
11,765 |
-476,594,383 |
0.00 |
|
|
Total
current assets |
9,352,529 |
12.20 |
8,335,648 |
-15.95 |
9,917,311 |
7,263,696 |
28.76 |
|
|
Total
Assets |
9,858,281 |
11.65 |
8,829,560 |
-15.37 |
10,432,734 |
7,559,160 1,239,862 |
30.42 |
|
CURRENT LIABILITIES |
||||||||
|
|
Trade
creditors |
5,669,843 |
21.68 |
4,659,704 |
-27.78 |
6,452,280 |
2,966,573 |
91.12 |
|
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial
debts |
379,210 |
3.89 |
364,995 |
126 |
160,988 |
4,549,768 126,094 |
-91.67 |
|
|
Current
portion of long term debt |
20,000 |
-66.67 |
60,000 |
-22.32 |
77,241 |
77,682 13,763 |
-74.25 |
|
|
Amounts
Payable for Taxes, Remuneration & Social Security |
15,850 |
-12.91 |
18,200 |
33.49 |
13,634 |
8,066 - |
-46.82 |
|
|
Miscellaneous
current liabilities |
620,698 |
263 |
170,973 |
70.47 |
100,297 |
153 |
-- |
|
|
Total
current liabilities |
6,705,601 |
27.15 |
5,273,873 |
-22.49 |
6,804,440 |
5,193,727 |
29.11 |
|
|
LONG
TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
-- |
|
|
Other
long term loans |
996,610 |
-29.93 |
1,422,214 |
-5.97 |
1,512,457 |
-14.44 |
-- |
|
|
Deffered
taxes |
80,253 |
-4.48 |
84,015 |
-4.29 |
87,777 |
46,266 28,377 |
73.46 |
|
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
4,512 0 |
-100 |
|
|
Other
long term liabilities |
0 |
-100 |
13,260 |
0 |
13,260 |
238,935 |
-100 |
|
|
Total
long term debts |
1,076,863 |
-29.13 |
1,519,489 |
-5.83 |
1,613,493 |
675,775 |
59.35 |
|
SHAREHOLDERS EQUITY |
||||||||
|
|
Issued
share capital |
20,000 |
0 |
20,000 |
0 |
20,000 |
994,237 |
-97.99 |
|
|
Share
premium account |
- |
- |
- |
- |
- |
103,298 |
- |
|
|
Reserves |
2,055,816 |
1.96 |
2,016,199 |
1.07 |
1,994,801 |
667,373 |
208 |
|
|
Revaluation
reserve |
- |
- |
- |
- |
- |
899,530 |
- |
|
|
Total
shareholders equity |
2,075,816 |
1.95 |
2,036,199 |
1.06 |
2,014,801 |
1,682,756 |
23.36 |
|
|
Working
capital |
2,646,928 |
-13.55 |
3,061,775 |
-1.64 |
3,112,872 |
2,069,969 |
27.87 |
|
|
Cashflow |
62,697 |
43.42 |
43,717 |
-60.97 |
112,020 |
43,406 |
44.44 |
|
|
Net
worth |
2,075,816 |
1.95 |
2,036,199 |
1.06 |
2,014,801 |
1,681,420 |
23.46 |
Ratio Analysis
|
ratio
analysis |
||||||||
|
|
Annual
accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry
average 2013 |
% |
|
TRADING PERFORMANCE |
||||||||
|
|
Profit
Before Tax |
0.13 |
62.50 |
0.08 |
-42.86 |
0.14 |
-8,00 |
1.62 |
|
|
Return on capital employed |
1.19 |
45.12 |
0.82 |
-48.10 |
1.58 |
-8,00 |
14.88 |
|
|
Return on total assets
employed |
0.38 |
15.15 |
0.33 |
-40.0 |
0.55 |
-8,00 |
4.75 |
|
|
Return on net assets
employed |
1.80 |
25.87 |
1.43 |
-49.82 |
2.85 |
-8,00 |
22.50 |
|
|
Sales
/ net working capital |
10.94 |
-5.03 |
11.52 |
-15.67 |
13.66 |
143,00 |
-99 |
|
|
Stock
turnover ratio |
15.50 |
21.86 |
12.72 |
-22.01 |
16.31 |
77,00 |
-79.87 |
|
|
Debtor
days |
59.20 |
49.46 |
39.61 |
92.84 |
20.54 |
142,36 |
-58.42 |
|
|
Creditor
days |
71.90 |
49.39 |
48.13 |
-12.47 |
54.99 |
125,12 |
-42.54 |
|
SHORT TERM STABILITY |
||||||||
|
|
Current
ratio |
1.39 |
-12.03 |
1.58 |
8.22 |
1.46 |
4,00 |
-86.10 |
|
|
Liquidity
ratio / acid ratio |
0.73 |
0 |
0.73 |
65.91 |
0.44 |
3,00 |
-75.67 |
|
|
Current
debt ratio |
3.23 |
24.71 |
2.59 |
-23.37 |
3.38 |
10,00 |
-67.70 |
|
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
||||||||
|
|
Gearing |
67.24 |
-25.88 |
90.72 |
4.41 |
86.89 |
234,00 |
-71.26 |
|
|
Equity
in percentage |
21.06 |
-8.67 |
23.06 |
19.42 |
19.31 |
-223,00 |
9.44 |
|
|
Total
debt ratio |
3.75 |
12.28 |
3.34 |
-20.10 |
4.18 |
11,00 |
-65.91 |
|
Activity code |
46761 |
|
|
Activity description |
Wholesale of diamonds and other precious stones |
|
|
industry average credit
rating |
64.48 |
|
|
Industry average credit limit |
140177.31 |
|
|
Payment
Information |
||
|
Suspension of payments / moratorium history |
||
|
Amount |
||
|
Details |
||
|
Payment expectations |
||
|
Payment expectation days |
71.90 |
|
|
Day sales outstanding |
59.20 |
|
|
Industry comparison |
||
|
Activity code |
46761 |
|
|
Activity description |
Wholesale of diamonds and other precious stones |
|
|
Industry average payment expectation days |
125.12 |
|
|
Industry average day sales outstanding |
142.36 |
|
Industry Quartile Analysis
|
Payment
expectations |
|
|
Company
result |
71.90 |
|
Lower |
123.48 |
|
Median |
76.66 |
|
Upper |
48.07 |
Day sales outstanding
Company result 59.20
Lower 101.92
Median 54.08
Upper 24.84
Summary
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
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 STEVEN DOV POLLAK
Position Principal Manager
Start Date 01/01/2012
Date of birth 22/03/1976
Street 39 CHARLOTTALEI
ANTWERPEN
Post code 2018
Country Belgium
Name FRANCOIS POLLAK
Position Principal Manager
Start Date 22/02/2012
Street 31 CHARLOTTALEI
ANTWERPEN
Post code 2018
Country Belgium
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.