|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL DISTRIBUTION COMPANY NV |
|
|
|
|
Registered Office : |
Emiel Hullebroecklaan 11, 2630 Aartselaar |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
13.07.1990 |
|
|
|
|
Com. Reg. No.: |
441014854 |
|
|
|
|
Legal Form : |
Public Limited Liability Company (BE) |
|
|
|
|
Line of Business : |
Wholesale of pharmaceutical goods |
|
|
|
|
No. of Employees : |
2 |
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 |
441014854 |
|
Company name |
INTERNATIONAL DISTRIBUTION
COMPANY NV |
|
Address |
EMIEL HULLEBROECKLAAN 11 |
|
|
2630 AARTSELAAR |
|
Number of staff |
2 |
|
Date of establishment |
13/07/1990 |
|
Telephone number |
0475448484 |
|
Fax number |
038886182 |
The business was established over 24 years ago.
The business has 1 employees.
Number of employees in the latest trading period increased 100% on the
previous trading period.
The business has been at the address for over 17 years.
Operating Result in the latest trading period increased 81% on the
previous trading period.
|
DATE OF LATEST ACCOUNTS TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
57,647 |
540,901 |
889,203 |
|
31/12/2011 |
-12,765 |
478,761 |
844,199 |
|
31/12/2010 |
-64,235 |
495,166 |
853,918 |
Accounts
|
DATE OF LATEST ACCOUNTS BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 1,343,426 |
2 |
248,000 |
74,755 |
|
31/12/2011 1,177,352 |
1 |
248,000 |
-8,761 |
|
31/12/2010 1,250,469 |
0 |
248,000 |
-51,141 |
|
Past payments |
Payment
expectation days |
- |
|
Industry average payment 123.29 expectation days |
Industry average day sales
outstanding |
115.01 |
|
Business number |
441014854 |
Company
name |
INTERNATIONAL |
|
|
|
|
DISTRIBUTION |
|
|
|
|
COMPANY NV |
|
Fax number |
038886182 |
Date
founded |
13/07/1990 |
|
Company status |
active |
Company
type |
Public Limited Liability |
|
|
|
|
Company (BE) |
|
Currency |
Euro (€) |
Date of
latest accounts |
31/12/2012 |
|
Activity code |
46460 |
Liable
for VAT |
yes |
|
Activity description |
Wholesale
of pharmaceutical goods |
VAT
Number |
BE.0441.014.854 Check VAT number |
|
Belgian Bullettin of Acts
Publications |
moniteur
beige |
|
|
|
Social Balance Sheet |
Total |
|
|
During the reporting year
ended 31-12-2012 |
|
|
|
Full-time Employees |
1 |
|
|
Part-time Employees |
1 |
|
|
Total Fte Employees |
2 |
|
|
|
||
|
Number of hours worked |
|
|
|
Full-time Employees |
2,209 |
|
|
Part-time Employees |
1,130 |
|
|
Total |
3,339 |
|
|
|
||
|
Personnel Charges |
|
|
|
Full-time Employees |
- |
|
|
Part-time Employees |
||
|
Total |
106,633 |
|
|
Benefits In Addition To
Wages |
||
|
|
||
|
During the previous
reporting year |
|
|
|
Average number employees in
Fte |
2 |
|
|
Actual working hours |
2,999 |
|
|
Personnel Charges |
95,519 |
|
|
Benefits In Addition To
Wages |
||
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary education |
1 |
- |
1 |
|
|
Secondairy education ... |
||||
|
Higher education (non |
|
|
- |
|
|
university) |
|
|
|
|
|
Higher education |
- |
- |
- |
|
|
(university) |
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary education |
1 |
1 |
2 |
|
|
Secondairy education ... |
||||
|
Higher education (non |
- |
- |
- |
|
|
university) |
|
|
|
|
|
Higher education |
- |
- |
- |
|
|
(university) |
|
|
|
|
|
|
||||
|
|
||||
|
Working Category |
Full-Time |
Part-Time |
Total
Fte |
|
|
Management ... |
||||
|
White collar worker |
2 |
1 |
3 |
|
|
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 |
1 |
- |
1 |
|
|
Leavers ... |
||||
|
|
||||
|
|
||||
|
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 |
|
|
Code |
|
|
Description |
FROM 1 TO 4 EMPLOYEES |
|
Joint Industrial Committee
(JIC) |
|
|
JIC Code |
207 |
|
Description |
Joint committee for the
employees off he chemical industry |
|
category |
|
|
Significant Events |
|
|
Event Date |
30/06/2009 |
|
Event Description |
re-appointment of
director(s) |
|
Event Details |
Commentaar 30-06-2009: Herbenoeming van de huidige
bestuurders voor een periode van 6jaar. Dhr. Lippens Peter wordt herbenoemd
als gedelegeerd bestuurder en dit eveneens voor een periode van 6jaar. |
Profit &loss
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
- |
- |
- |
- |
- |
34,057,002 |
- |
|
Total operating expenses |
- |
- |
- |
- |
- |
33,629,999 |
- |
|
Operating result |
68,753 |
81.27 |
37,928 |
66.50 |
-57,033 |
212,039 |
-67.58 |
|
Total financial income |
38,859 |
15.71 |
33,584 |
-50.45 |
67,781 |
468,190 |
-91.70 |
|
Total financial expenses |
49,965 |
-40.71 |
84,277 |
12.39 |
74,983 |
550,785 |
-90.93 |
|
Results on ordinary
operations before taxation |
57,647 |
451 |
-12,765 |
19.87 |
-64,235 |
92,959 |
-37.99 |
|
Taxation |
506 |
-86.09 |
3,641 |
446 |
666 |
168,959 |
-99 |
|
Results on ordinary operations
after taxation |
57,141 |
348 |
-16,406 |
25.28 |
-64,901 |
-41,204 |
138 |
|
Extraordinary items |
5,000 |
- |
0 |
-100 |
1,735 |
29,294 |
-82.93 |
|
Other appropriations |
0.00 |
- |
0 |
- |
0.00 |
- |
- |
|
Net result |
62,141 |
378 |
-16,406 |
25.97 |
-63,166 |
-11,444 |
542 |
|
Gross Operating Margin |
200,211 |
27.95 |
156,474 |
397 |
31,475 |
226,552 |
-11.63 |
|
Dividends |
- |
- |
- |
- |
- |
617,306 |
- |
|
Director remuneration |
- |
- |
- |
- |
- |
305,352 |
- |
|
Employee costs |
106,633 |
11.64 |
95,519 |
46.22 |
65,327 |
2,378,562 |
-95.52 |
|
Wages and salary |
74,402 |
15.40 |
64,474 |
46.15 |
44,116 |
1,716,865 |
-95.67 |
|
Employee pension costs |
- |
- |
- |
- |
- |
169,268 |
- |
|
Social security
contributions |
23,651 |
13.86 |
20,772 |
93.02 |
10,762 |
481,205 |
-95.09 |
|
Other employee costs |
8,580 |
-16.48 |
10,273 |
-1.68 |
10,449 |
159,276 |
-94.61 |
|
Amortization and depreciation |
12,615 |
65.01 |
7,645 |
-36.42 |
12,024 |
867,972 |
-98.55 |
|
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 |
1,536,976 |
-100 |
|
Tangible fixed assets |
23,539 |
267 |
6,401 |
-51.09 |
13,088 |
888,944 |
-97.35 |
|
Land
& building |
- |
- |
- |
- |
- |
808,046 |
- |
|
Plant
& machinery |
2,115 |
-31.98 |
3,109 |
-30.82 |
4,494 |
309,536 |
-99 |
|
Furniture
& Vehicles |
21,424 |
550 |
3,292 |
-61.70 |
8,594 |
55,755
14,706 |
-61.57 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
737,820 19,181 |
- |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
179,786 |
-100 |
|
Financial fixed assets |
- |
- |
- |
- |
- |
11,124,763 |
- |
|
Total fixed assets |
23,539 |
267 |
6,401 |
-51.09 |
13,088 |
9,783,858 |
-99 |
|
Inventories |
110,212 |
11.34 |
98,989 |
-23.47 |
129,343 |
2,837,638 |
-96.12 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
2,272,958 |
- |
|
Work in
progress |
0 |
- |
0 |
- |
0 |
34,024 |
-100 |
|
Finished
goods |
0 |
- |
0 |
- |
0 |
1,698,058 |
-100 |
|
Other
stocks |
110,212 |
11.34 |
98,989 |
-23.47 |
129,343 |
112,585 |
-2.11 |
|
Trade debtors |
685,513 |
41.00 |
486,176 |
18.10 |
411,663 |
2,734,492 |
-74.93 |
|
Cash |
270,158 |
-16.67 |
324,196 |
-27.36 |
446,319 |
1,068,858 |
-74.72 |
|
other amounts receivable |
81,838 |
-8.48 |
89,424 |
14.81 |
77,891 |
2,008,639 |
-95.93 |
|
Miscellaneous current assets |
172,165 |
0.00 |
172,166 |
0.00 |
172,165 |
271,807 |
-36.66 |
|
Total current assets |
1,319,887 |
12.72 |
1,170,951 |
-5.37 |
1,237,381 |
7,941,735 |
-83.38 |
|
Total Assets |
1,343,426 |
14.11 |
1,177,352 |
-5.85 |
1,250,469 |
17,127,439 636,092 |
-92.16 |
|
Trade creditors |
386,681 |
33.33 |
290,012 |
-15.92 |
344,907 |
2,474,457 |
-84.37 |
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
- |
- |
- |
- |
- |
2,084,920 50,438 |
- |
|
Current portion of long term
debt |
- |
- |
- |
- |
- |
216,222 21,973 |
- |
|
Amounts Payable for Taxes,
Remuneration & Social Security |
18,705 |
-26.93 |
25,600 |
-3.93 |
26,647 |
28,272
- |
-96.06 |
|
Miscellaneous current
liabilities |
25,298 |
127 |
11,140 |
-6.45 |
11,909 |
-98.81 |
-- |
|
Total current liabilities |
430,684 |
31.81 |
326,752 |
-14.79 |
383,463 |
5,732,041 |
-92.49 |
|
Long term group loans |
- |
- |
- |
- |
- |
- |
-- |
|
Other long term loans |
371,840 |
0.00 |
371,840 |
0.00 |
371,840 |
-95.14 |
-- |
|
Deffered taxes |
- |
- |
- |
- |
- |
134,239 17,146 |
- |
|
Provisions for Liabilities
& Charges 0 |
|
- |
0 |
- |
0 |
224,168 0 |
-100 |
|
Other long term liabilities |
0 |
0 |
-1 |
- |
0 |
88,401 |
-100 |
|
Total long term debts |
371,840 |
0.00 |
371,839 |
0.00 |
371,840 |
3,928,850 |
-90.54 |
|
Issued share capital |
248,000 |
0 |
248,000 |
0 |
248,000 |
5,765,973 |
-95.70 |
|
Share premium account |
- |
- |
- |
- |
- |
2,134,250 |
- |
|
Reserves |
292,901 |
26.93 |
230,761 |
-6.64 |
247,166 |
1,556,802 |
-81.19 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
230,034 |
- |
|
Total shareholders equity |
540,901 |
12.98 |
478,761 |
-3.31 |
495,166 |
7,423,023 |
-92.71 |
|
Working capital |
889,203 |
5.33 |
844,199 |
-1.14 |
853,918 |
2,209,694 |
-59.76 |
|
Cashflow |
74,755 |
853 |
-8,761 |
17.13 |
-51,141 |
770,590 |
-90.30 |
|
Net worth |
540,901 |
12.98 |
478,761 |
-3.31 |
495,166 |
5,878,698 |
-90.80 |
|
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING PERFORMANCE |
||||||||
|
|
Profit Before Tax |
- |
- |
- |
- |
- |
13,00 |
- |
|
|
Return on capital employed |
6.32 |
421 |
-1.50 |
20.24 |
-7.41 |
16,00 |
-60.50 |
|
|
Return on total assets employed |
4.29 |
397 |
-1.08 |
21.01 |
-5.14 |
-114,00 |
3.76 |
|
|
Return on net assets employed |
10.66 |
399 |
-2.67 |
20.59 |
-12.97 |
21,00 |
-49.24 |
|
|
Sales / net working capital |
- |
- |
- |
- |
- |
6,00 |
- |
|
|
Stock turnover ratio |
- |
- |
- |
- |
- |
18,00 |
- |
|
|
Debtor days |
- |
- |
- |
- |
- |
115,01 |
- |
|
|
Creditor days |
- |
- |
- |
- |
- |
123,29 |
- |
|
SHORT
TERM STABILITY |
||||||||
|
|
Current ratio |
3.06 |
-14.53 |
3.58 |
10.84 |
3.23 |
8,00 |
53.00 |
|
|
Liquidity ratio / acid ratio |
2.81 |
-14.33 |
3.28 |
13.49 |
2.89 |
8,00 |
-64.88 |
|
|
Current debt ratio |
0.80 |
17.65 |
0.68 |
-11.69 |
0.77 |
2,00 |
-60.00 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG
TERM STABILITY |
||||||||
|
|
Gearing |
68.74 |
-11.50 |
77.67 |
3.44 |
75.09 |
301,00 |
-77.16 |
|
|
Equity in percentage |
40.26 |
-0.98 |
40.66 |
2.68 |
39.60 |
-415,00 |
9.70 |
|
|
Total debt ratio |
1.48 |
1.37 |
1.46 |
-4.58 |
1.53 |
3,00 |
-50.67 |
|
Activity code |
|
46460 |
|
|
Activity description |
|
Wholesale of pharmaceutical goods |
|
|
industry average credit
rating |
|
61.92 |
|
|
Industry average credit limit |
|
125496.30 |
|
Industry comparison
|
Activity code |
46460 |
|
Activity description |
Wholesale of pharmaceutical goods |
|
Industry
average payment expectation days |
123.29 |
|
Industry average day sales
outstanding |
115.01 |
|
Industry quartile analysis |
|
|
Payment expectations |
|
|
Company result |
|
|
Lower |
108.43 |
|
Median |
70.52 |
|
Upper |
38.17 |
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No
minority interests found
|
Forename |
Martine |
Middle
name |
- |
|
Surname |
Florus |
|
|
|
SHAREHOLDER DETAILS |
|||
|
Start date |
11/04/1997(estimated) |
End date |
- |
|
Percentage owned |
50% |
|
|
|
SHAREHOLDER ADDRESS |
|||
|
Street name |
Emiel Hullebroecklaan |
House
number |
11 |
|
Minor town |
- |
Postal
town |
Aartselaar |
|
Post code |
2630 |
Country |
Belgium |
Current director details
Name PETER LIPPENS
Position Managing Director
Start Date 03/03/2008
Street 11 EMIEL
HULLEBROECKLAAN AARTSELAAR
Post code 2630
Country Belgium
|
Name |
MARTINE FLORUS |
|
Position |
Director |
|
Start Date |
03/03/2008 |
|
End Date |
04/06/2015 |
|
Street |
11 EMIEL HULLEBROECKLAAN
AARTSELAAR |
|
Post code |
2630 |
|
Country |
Belgium |
|
Former director details |
|
|
Name |
ERIK FLORUS |
|
Position |
Director |
|
|
Start Date |
02/06/1997 |
|
|
End Date |
Unknown date |
|
|
Street |
9 DONKERBOSDREEF BRECHT |
|
|
Post code |
2960 |
|
|
Country |
Belgium |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.31 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.