MIRA
INFORM REPORT
|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
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Registered Office : |
Moerenstraat 85-A, 2370 Arendonk |
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|
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Country : |
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|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
05.06.2007 |
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|
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Com. Reg. No.: |
889844445 |
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Legal Form : |
Public Limited Liability Company |
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Line of Business : |
·
Engaged in Distribution, Resale, Compounding and Recycling
Service for Plastic and Elastomeric Raw Materials. Subject product portfolio includes plastics, natural &
synthetic rubbers as well as chemicals. |
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|
|
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No of Employees : |
Not Available |
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
Company summary
Business number 889844445
Company name RAVAGO
DISTRIBUTION CENTER NV
Address MOERENSTRAAT 85-A
2370 ARENDONK
Number of staff 0
Date of establishment 05/06/2007
Telephone number 014672001
Fax number 014672122
Ultimate holding company
Company name Company
Number
Ravago Distribution
Center NV NV
889844445
Commentary
The business was established over 7 years
ago. 
No employees are recorded for this business. 
The business is part of a group.
This business has a foreign parent business.
The business has been at the address for over 7 months.
Net Worth decreased by 130% during the latest trading period.
Pre-tax profits decreased by 28% compared to the previous trading
period.
Net Worth is a negative amount during the latest trading period.
Working Capital is a negative amount during the latest trading period.
Turnover in the latest trading period decreased 27% on the previous
trading period.
Accounts
|
Date of latest
accounts |
Turnover |
Profit Before Tax |
Net worth |
Working capital |
|
31/12/2012 |
403,479,780 |
7,310,975 |
-1,740,107 |
-5,875,397 |
|
31/12/2011 |
560,186,764 |
10,224,424 |
5,663,561 |
869,796 |
|
31/12/2010 |
903,150,618 |
31,309,852 |
3,629,580 |
-1,232,428 |
Accounts
|
Date of latest accounts |
Balance Total |
Number of
Employees |
Capital |
Cashflow |
|
31/12/2012 |
52,114,812 |
0 |
1,000,000 |
8,185,943 |
|
31/12/2011 |
51,789,049 |
0 |
6,060,000 |
9,111,542 |
|
31/12/2010 |
111,088,995 |
0 |
6,060,000 |
21,861,265 |
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment expectations
Past payments
Payment expectation days 25.82
Industry average payment expectation days 59.68
Industry average day sales outstanding 83.29
Day sales outstanding 24.08
Court data summary
Bankruptcy details
Court action type no
Company information
Business number 889844445
Company name RAVAGO
DISTRIBUTION CENTER NV
Fax number 014672122
Date founded 05/06/2007
Company status active
Company type Public
Limited Liability Company (BE)
Currency Euro
(€)
Date of latest accounts 31/12/2012
Liable for VAT yes
Belgian Bullettin of Acts
Publications moniteur belge
VAT
Number BE.0889.844.445
Check VAT Number
Activity description
·
Engaged in Distribution, Resale, Compounding and Recycling
Service for Plastic and Elastomeric Raw Materials.
Subject
product portfolio includes plastics, natural & synthetic rubbers as well as
chemicals.
Joint Industrial Committee
(JIC)
Significant Events
Event Date 17/12/2013
Event Description
Event Details Neerlegging van de
éénparige en schriftelijke besluiten van de aandeelhouders
dd. 9 december 2013 overeenkomstig artikel
556 van het Wetboek van vennootschappen.
COMPANY ACCOUNTS
Comparison Mode
·
Average Median Export
accounts to CSV File
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 |
403,479,780 |
-27.97 |
560,186,764 |
-37.97 |
903,150,618 |
29,571,068 |
1264 |
|
Total
operating expenses |
395,792,776 |
-28.18 |
551,099,346 |
-36.77 |
871,599,156 |
28,795,037 |
1274 |
|
Operating
result |
7,687,005 |
-15.41 |
9,087,418 |
-71.20 |
31,551,462 |
411,469 |
1768 |
|
Total
financial income |
2,269,622 |
-49.42 |
4,486,850 |
67.08 |
2,685,464 |
237,214 |
856 |
|
Total
financial expenses |
2,645,652 |
-21.02 |
3,349,845 |
14.44 |
2,927,074 |
102,922 |
2470 |
|
Results
on ordinary operations before taxation |
7,310,975 |
-28.49 |
10,224,424 |
-67.34 |
31,309,852 |
537,331 |
1260 |
|
Taxation |
2,486,871 |
-28.50 |
3,477,165 |
-67.46 |
10,575,634 |
163,406 |
1421 |
|
Results
on ordinary operations after taxation |
4,824,104 |
-- |
6,747,259 |
0 |
20,734,219 |
406,606 |
1086 |
|
Extraordinary
items |
0 |
-- |
0 |
0 |
-1,246,061 |
10,388 |
-100 |
|
Other
appropriations |
0.00 |
-- |
0.00 |
-- |
0.00 |
-- |
-- |
|
Net
result |
4,824,104 |
-28.50 |
6,747,259 |
-65.38 |
19488158 |
418,896 |
1051 |
|
OTHER INFORMATION |
|||||||
|
Gross
Operating Margin |
-- |
--- |
-- |
-- |
-- |
368,516 |
-- |
|
Dividends |
-- |
-- |
6800000 |
-65.83-- |
19900000 |
463,685 |
-- |
|
Director
remuneration |
-- |
-- |
-- |
-- |
-- |
279,875 |
-- |
|
Employee
costs |
-- |
-- |
11208 |
23.96 |
9042 |
1,358,090 |
-- |
|
Wages and salary |
-- |
-- |
-- |
-- |
-- |
981,990 |
-- |
|
Employee pension costs |
-- |
-- |
-- |
-- |
-- |
348,913 |
-- |
|
Social security contributions |
-- |
--- |
-- |
-- |
-- |
82,647 |
-- |
|
Other employee costs |
0 |
-100 |
11208 |
23.96 |
9042 |
51,109 |
-100 |
|
Amortization
and depreciation |
3,361,839 |
42.19 |
2,364,283 |
-0.37 |
2,373,107 |
239,552 |
1303 |
Balance Sheet
|
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 |
8,216,756 |
- |
1,048,983 |
- |
3,135,706 |
158,543 |
5082 |
|
Tangible
fixed assets |
2,302,921 |
-10.76 |
2,580,482 |
-9.71 |
2,858,043 |
765,377 |
200 |
|
Land & building |
2,149,327 |
0 |
2149,327 |
0 |
2,149,327 |
500,448 |
329 |
|
Plant & machinery |
153,524 |
-64.38 |
431,155 |
-39.16 |
708,716 |
42,989 |
-64.21 |
|
Furniture & Vehicles |
-- |
-- |
-- |
-- |
-- |
103,159 18,797 |
-- |
|
Leasing & Other Similar
Rights |
-- |
-- |
-- |
-- |
-- |
77,064 46,574 |
-- |
|
Other tangible assets |
0 |
-- |
0 |
-- |
0 |
14,987 |
-100 |
|
Financial
fixed assets |
1,832,370 |
-17.21 |
2,213,284 |
10.45 |
2,003,966 |
508,020 |
260 |
|
Total
fixed assets |
12,352,046 |
111 |
5,842,749 |
-26.94 |
7,997,714 |
1,239,581 |
896 |
|
Inventories |
-- |
-- |
-- |
-- |
81,922,343 |
1,023,581 |
-- |
|
Raw materials &
consumables |
-- |
-- |
-- |
-- |
31,983,586 |
1,115,992 |
-- |
|
Work in progress |
0 |
-- |
0 |
-- |
0 |
41,568 |
-100 |
|
Finished goods |
0 |
-- |
0 |
-100 |
49,938,758 |
410,904 |
-100 |
|
Other stocks |
0 |
-- |
0 |
-- |
0 |
107,534 |
-100 |
|
Trade
debtors |
26,616,638 |
-13.59 |
30,802,177 |
638 |
4,168,157 |
1,584,498 |
1579 |
|
Cash |
131,804 |
2.66 |
128,391 |
-58.85 |
311,977 |
749,344 |
-82.41 |
|
other
amounts receivable |
12,988,553 |
-13.47 |
15,010,768 |
-10.03 |
16,684,140 |
2,687,501 |
383 |
|
Miscellaneous
current assets |
25,771 |
419 |
4,966 |
6.48 |
4,663 |
234,262 |
-89.00 |
|
Total
current assets |
39,762,766 |
-13.46 |
45,946,300 |
-55.43 |
103,091,282 |
6,044,922 |
557 |
|
Total
Assets |
52,114,812 |
0.63 |
51,789,049 |
-53.38 |
111,088,995 |
7,222,517 1,220,071 |
621 |
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
Trade
creditors |
27,995,696 |
-8.11 |
3,0467,196 |
-50.98 |
62,148,810 |
1202239 |
2228 |
|
Financial
debts |
10,204,632 |
913 |
1,007,080 |
-92.82 |
14,031,185 |
1288135 150349 |
692 |
|
Current
portion of long term debt |
-- |
-- |
-- |
-- |
-- |
72171 32589 |
--- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
7,437,726 |
8.88 |
6,830,948 |
-17.65 |
8,294,770 |
69295 |
1459 |
|
Miscellaneous
current liabilities |
110 |
-99 |
6,771,280 |
-65.89 |
19,848,944 |
-99 |
--- |
|
Total
current liabilities |
45,638,163 |
1.25 |
45,076,505 |
-56.79 |
104,323,710 |
2,298,970 |
1885 |
|
LONG TERM DEBTS AND LIABILITIES |
|||||||
|
Long
term group loans |
-- |
-- |
-- |
-- |
-- |
-- |
--- |
|
Other
long term loans |
-- |
-- |
-- |
-- |
-- |
-- |
--- |
|
Deffered
taxes |
-- |
-- |
-- |
-- |
-- |
74,944 13,236 |
-- |
|
Provisions
for Liabilities & Charges |
0 |
-- |
0 |
-- |
0 |
172,939 0 |
-100 |
|
Other
long term liabilities |
0 |
-- |
0 |
-- |
0 |
102,024 |
-100 |
|
Total
long term debts |
0 |
-- |
0 |
-- |
0 |
490,181 |
-100 |
|
SHAREHOLDERS EQUITY |
|||||||
|
Issued
share capital |
1,000,000 |
-83.50 |
6,060,000 |
0 |
6,060,000 |
1,446,968 |
-30.89 |
|
Share
premium account |
-- |
-- |
-- |
-- |
-- |
50,070 |
-- |
|
Reserves |
5,476,649 |
739 |
652,545 |
-7.48 |
705,285 |
2,977,466 |
83.94 |
|
Revaluation
reserve |
-- |
-- |
-- |
-- |
-- |
128,597 |
-- |
|
Total
shareholders equity |
6,476,649 |
-3.51 |
6,712,545 |
-0.78 |
6,765,285 |
4,433,367 |
46.09 |
|
Working
capital |
-5,875,397 |
-775 |
869,796 |
70.58 |
1,232,428 |
3,745,952 |
-256 |
|
Cashflow |
8,185,943 |
-10.16 |
9,111,542 |
-58.32 |
21,861,265 |
646,470 |
1166 |
|
Net
worth |
-1,740,107 |
-130 |
5,663,561 |
56.04 |
3,629,580 |
4,274,824 |
-140 |
Ratio Analysis
|
Annual
Accounts |
31-12-2012 |
Change
(%) |
31-12-2011 |
Change
(%) |
31-12-2010 |
Industry
Average |
% |
|
Trading Performance |
|
|
|
|
|
|
|
|
Profit Before Tax |
1.81 |
-1.09 |
1.83 |
-47.26 |
3.47 |
-1,00 |
181 |
|
Return on capital employed |
112.88 |
-25.89 |
152.32 |
-67.09 |
462.80 |
7,00 |
1512 |
|
Return on total assets employed |
14.03 |
-28.93 |
19.74 |
-29.95 |
28.18 |
3,00 |
367 |
|
Return on net assets employed |
112.88 |
-25.89 |
152.32 |
-67.09 |
462.80 |
-6,00 |
1881 |
|
Sales / net working capital |
-68.67 |
-110 |
644.04 |
87.89 |
-732.82 |
1,00 |
-100 |
|
Stock turnover ratio |
- |
- |
- |
- |
9.07 |
25,00 |
- |
|
Debtor days |
24.08 |
19.98 |
20.07 |
1094 |
1.68 |
84,00 |
-71.33 |
|
Creditor days |
25.82 |
27.95 |
20.18 |
-22.47 |
26.03 |
52,00 |
-50.35 |
|
short term stability |
|
|
|
|
|||
|
Current ratio |
0.87 |
-14.71 |
1.02 |
3.03 |
0.99 |
5,00 |
87.00 |
|
Liquidity ratio / acid ratio |
0.87 |
-14.71 |
1.02 |
410 |
0.20 |
4,00 |
-78.25 |
|
Current debt ratio |
7.05 |
4.91 |
6.72 |
-56.42 |
15.42 |
-1,00 |
705 |
|
Liquidity ratio reprocessed |
|
|
|
- |
- |
- |
- |
|
Long Term Stability |
|
|
|
|
|
|
|
|
Gearing |
157.56 |
950 |
15 |
-92.77 |
207.40 |
-255,00 |
61.79 |
|
Equity in percentage |
14.75 |
11.49 |
13.23 |
111 |
6.27 |
46,00 |
-67.93 |
|
Total debt ratio |
7.05 |
4.91 |
6.72 |
-56.42 |
15.42 |
-2,00 |
352 |
Payment Information
Payment Information Summary
Total number of Invoices available 2
Total number of Invoices paid within or up to 30 days after the due
date 2
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 0
Payment expectations
Payment expectation days 25.82
Day sales outstanding 24.08
Industry comparison
Industry average
payment expectation days 59.68
Industry average day sales outstanding 83.29
Industry quartile analysis
Payment
expectations
Company result 25.82
Lower 84.73
Median 60.12
Upper 37.80
Day sales
outstanding
Company result 24.08
Lower 68.69
Median 38.70
Upper 19.21
Group Structure
Company name Number
Latest
RAVAGO DISTRIBUTION CENTER NV 889844445B 31-12-2012
RAVAGO LOGISTIC CENTER NV 881573117 31-12-2012
Minority Shareholders
No minority shareholders found
Minority interests
Business Company
name Date
of accounts
number
473959816 Ravago
Coordination Center NV 31/12/2012
NSSO details
Business number 889844445
Bankruptcy details
There is no bankruptcy data against this company
NSSO details
Business number 889844445
Bankruptcy Data
Court Data
there is no data for this company
court data
there is no data for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.48 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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.