MIRA INFORM REPORT

 

 

Report Date :

03.09.2014

 

IDENTIFICATION DETAILS

 

Name :

LUCEE DIAMONDS BVBA

 

 

Registered Office :

Hoveniersstraat 30-office 327 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

27.05.2008

 

 

Com. Reg. No.:

898262263

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Agents specialised in the sale of other particular products

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

No. of Employees

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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

 

 

 

Company name and address

 

Business number                                                     898262263

Company name                                                       LUCEE DIAMONDS BVBA

Address                                                                   HOVENIERSSTRAAT 30-Office 327

2018 ANTWERPEN

Number of staff                                                        0

Date of establishment                                             27/05/2008

Telephone number                                                  0491280531

Fax number                                                            032268089

 

 

Commentary

 

The business was established over 6 years ago.

No employees are recorded for this business.

The business is part of a group.

The business has been at the address for over 4 years.

Operating Result in the latest trading period decreased 95% on the previous trading period.

Pre-tax profits decreased by 43% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 31% during the latest trading period

 

 

Accounts

 

DATE OF LATEST ACCOUNTS       TURNOVER        PROFIT BEFORE TAX NET WORTH      WORKING CAPITAL

31/12/2012                                                            28,599                        203,703              96,503

31/12/2011                                                            50,988                        181,327              77,888

31/12/2010                                                            37,917                        63,952                -50,740

 

Accounts

 

DATE OF LATEST ACCOUNTS       BALANCE TOTAL                                 NUMBER OF EMPLOYEES     CAPITAL                                                   CASHFLOW

31/12/2012                                   3,457,505           0                                86,200                38,855

31/12/2011                                   3,092,915           0                                86,200                54,046

31/12/2010                                   4,771,751           0                                6,200                 44,019

 

Payment expectations

 

 

Past payments

Payment expectation days

-

Industry average payment 887.13 expectation days

Industry average day sales outstanding

111.63

 

 

Company information

 

Business number

898262263

Company name

LUCEE DIAMONDS BVBA

Fax number

032268089

Date founded

27/05/2008

Company status

active

Company type

Private Limited Company

(BL/LX)

Currency

Euro (€)

Date of latest accounts

31/12/2012

Activity code

46180

Liable for VAT

yes

Activity description

Agents specialised in the sale of other particular products

VAT Number

BE.0898.262.263 Check VAT number

 

 

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

-

-

-

-

-

8,558,614

-

Total operating expenses

-

-

-

-

-

8,461,249

-

Operating result

11,269

-95.34

241,810

138

101,565

38,695

-70.88

Total financial income

95,418

-39.37

157,372

-24.79

209,236

61,567

54.98

Total financial expenses

78,088

-77.57

348,194

27.60

272,883

34,703

125

Results on ordinary operations before taxation

28,599

-43.91

50,988

34.47

37,917

57,448

-50.22

Taxation

7,876

-48.41

15,266

22.03

12,511

14,774

-46.69

Results on ordinary operations after taxation

20,723

-41.99

35,722

40.60

25,407

46,690

-55.62

Extraordinary items

0

-

0

-

0

-29,315

0

Other appropriations

0.00

-

0.00

-

0.00

-

-

Net result

20,723

-41.99

35,722

40.60

25,407

16,703

24.07

Gross Operating Margin

30,525

-88.32

261,263

115

121,283

83,893

-63.61

Dividends

-

-

-

-

-

66,021

-

Director remuneration

-

-

-

-

-

369,981

-

Employee costs

-

-

-

-

-

222,872

-

Wages and salary

-

-

-

-

-

179,788

-

Employee pension costs

-

-

-

-

-

11,391

-

Social security contributions

-

-

-

-

-

52,712

-

Other employee costs

0

-

0

-

0

5,200

-100

Amortization and depreciation

18,132

-1.05

18,324

-1.55

18,612

28,564

-36.52

 

 

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

661

-

2,314

-

3,967

11,826

-94.41

Tangible fixed assets

99,938

-14.16

116,417

-12.53

133,089

213,767

-53.25

Land & building

-

-

-

-

-

385,209

-

Plant & machinery

99,290

-13.94

115,367

-12.23

131,444

25,108

295

Furniture & Vehicles

-

-

282

-62.69

757

18,105 7,027

-

Leasing & Other Similar Rights

-

-

-

-

-

129,241 10,482

-

Other tangible assets

648

-15.62

768

-13.51

888

13,856

-95.32

Financial fixed assets

14,469

-

-

-

-

489,611

-97.04

Total fixed assets

115,068

-3.09

118,732

-13.37

137,056

466,204

-75.32

Inventories

2,073,342

-3.39

2,146,204

-48.59

4,175,068

192,265

978

Raw materials & consumables

-

-

-

-

-

0

-

Work in progress

0

-

0

-

0

467

-100

Finished goods

0

-

0

-

0

20,911

-100

Other stocks

2,073,342

-3.39

2,146,204

-48.59

4,175,068

43,123

4707

Trade debtors

1,140,925

60.60

710,406

264

194,675

186,023

513

Cash

54,021

-31.48

78,846

572

11,717

122,098

-55.76

other amounts receivable

70,523

98.60

35,510

-85.78

249,807

91,434

-22.87

Miscellaneous current assets

3,625

12.67

3,218

-6.14

3,428

42,468

-91.46

Total current assets

3,342,437

12.38

2,974,184

-35.83

4,634,695

497,440

571

Total Assets

3,457,505

11.79

3,092,915

-35.18

4,771,751

912,565 161,499

278

 

 

CURRENT LIABILITIES

 

CURRENT LIABILITIES

 

Trade creditors

2,853,243

1.83

2,801,974

-39.13

4,603,381

213,332

1237

Short term group loans                        -                 -          -                -          -                 - -

 

Financial debts

35,266

-21.81

45,102

-

-

198,629 10,898

-82.25

 

Current portion of long term debt

5,772

6.53

5,418

6.41

5,092

90,177 12,560

-93.60

 

Amounts Payable for Taxes, Remuneration & Social Security

23,857

-15.60

28,266

25.57

22,510

8,086 -

-34.39

 

Miscellaneous current liabilities

327,796

2009

15,536

-71.47

54,452

166

--

 

Total current liabilities

3,245,934

12.07

2,896,295

-38.19

4,685,435

436,027

644

 

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

--

 

Other long term loans

7,207

-44.47

12,979

-29.45

18,397

-96.70

--

 

Deffered taxes

-

-

-

-

-

57,242 23,529

-

 

Provisions for Liabilities & Charges

0

-

0

-

0

14,198 0

-100

 

Other long term liabilities

0

-

0

-

0

5, 311

-100

 

Total long term debts

7,207

-44.47

12,979

-29.45

18,397

118,050

-93.89

SHAREHOLDERS EQUITY

 

 

 

 

 

 

 

 

 

 

Issued share capital

86,200

0

86,200

1290

6,200

288,683

-70.14

 

Share premium account

-

-

-

-

-

140,939

-

 

Reserves

118,164

21.27

97,441

57.88

61,719

58,185

103

 

Revaluation reserve

-

-

-

-

-

242,017

-

 

Total shareholders equity

204,364

11.28

183,641

170

67,919

356,387

-42.66

 

Working capital

96,503

23.90

77,888

153

-50,740

61,413

57.14

 

Cashflow

38,855

-28.11

54,046

22.78

44,019

40,813

-4.80

 

Net worth

203,703

12.34

181,327

183

63,952

344,051

-40.79

 

 

ratio analysis

 

 

Annual accounts

31-12-2012

change(%)

31-12-2011

change(%)

31-12-2010

Industry average 2012

%

TRADING PERFORMANCE

 

 

Profit Before Tax

-

-

-

-

-

-5,00

-

 

Return on capital employed

13.52

-47.86

25.93

-40.97

43.93

21,00

-35.62

 

Return on total assets employed

0.83

-49.70

1.65

108

0.79

-3,00

27.67

 

Return on net assets employed

13.99

-49.62

27.77

-50.26

55.83

69,00

-79.72

 

Sales / net working capital

-

-

-

-

-

3,00

-

 

Stock turnover ratio

-

-

-

-

-

28,00

-

 

Debtor days

-

-

-

-

-

111,63

-

 

Creditor days

-

-

-

-

-

887,13

-

SHORT TERM STABILITY

 

Current ratio

1.03

0

1.03

4.04

0.99

40,00

3.00

 

Liquidity ratio / acid ratio

0.39

34.48

0.29

190

0.10

39,00

-99.00

 

Current debt ratio

15.88

0.70

15.77

-77.14

68.99

1,00

1488

 

Liquidity ratio reprocessed

-

-

-

-

-

-

-

LONG TERM STABILITY

 

Gearing

23.61

-31.72

34.58

0

34.58

118,00

-79.99

 

Equity in percentage

5.91

-0.51

5.94

318

1.42

-66,00

8.95

 

Total debt ratio

15.92

0.51

15.84

-77.13

69.26

2,00

696

 

Industry comparison

 

Activity code

46180

Activity description

Agents specialised in the sale of other particular products

 

 

Industry quartile

 

Company result -

Lower

96.56

Median

47.63

Upper

15.44

 

 

Day sales outstanding

 

Company result -

Lower

82.08

Median

35.51

Upper

13.80

 

 

Shareholder Details

 

Company name

 

Number

Latest

financials

- FIBERIC BVBA

 

883800751

31-12-2012

- - FINE FACETS BVBA

 

480039538

31-12-2012

- - LUCEE DIAMONDS BVBA

 

898262263

31-12-2012

 

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

Individual Shareholders

 

SHAREHOLDER ADDRESS

Street name

Gabriellelei

House number

19

 

Minor town

-

Postal town

Brasschaat

 

Post code

2930

Country

Belgium

 

SHAREHOLDER NAME

Forename

Miraj

Middle name

-

 

Surname

Patel

 

 

 

SHAREHOLDER DETAILS

Start date

18/05/2011

End date

-

 

Percentage owned

9.43%

 

 

 

SHAREHOLDER ADDRESS

 

 

 

 

Street name

-

House number

-

 

Minor town

-

Postal town

-

 

Post code

-

Country

United Kingdom

 

 

 

Legal events

 

court data

there is no data for this company

 

 

Director details

 

Current director details

Name

MITUL SAILESH MEHTA

Position

Non Statutory Partner

Start Date

27/05/2008

Street

19 GABRIELLELEI BRASSCHAAT

Post code

2930

Country

Belgium

 

 

Name

MITUL SAILESH MEHTA

Position

Principal Manager

Start Date

10/09/2011

Street

19 GABRIELLELEI BRASSCHAAT

Post code

2930

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.61

UK Pound

1

Rs.100.48

Euro

1

Rs.79.56

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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.