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Report Date : |
10.09.2014 |
IDENTIFICATION DETAILS
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Name : |
STEELFORCE NV |
|
|
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Registered Office : |
Lange Klarenstraat 16 2000 Antwerpen |
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Country : |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
04.07.1950 |
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|
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Com. Reg. No.: |
402950965 |
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Legal Form : |
Public Limited Liability Company |
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|
|
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Line of Business : |
Manufacture of basic iron and steel and of ferro-alloys |
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|
|
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No. of Employees |
60 |
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 |
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Payment Behaviour : |
Slow but correct |
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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 |
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Moderate |
B1 |
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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 |
Business number 402950965
Company name STEELFORCE NV
Address LANGE
KLARENSTRAAT 16
2000 ANTWERPEN
Number of staff 60
Date of establishment 04/07/1950
Telephone number 032241080
Fax number 032241079
The business was established over 64 years ago.
The business has 62 employees.
The business is part of a group.
The business has been at the address for over 2 months.
The business has been at the address for less than 6 months.
Pre-tax profits increased by 43% compared to the previous trading period.
The business saw a decrease in their Cash Balance of 59% during the latest trading period
|
Date
of latest accounts |
Turnover |
Profit
Before Tax |
Net
worth |
Working
capital |
|
30/09/2013 |
574,722,430 |
4,705,529 |
17,478,124 |
20,602,931 |
|
30/09/2012 |
556,494,948 |
3,272,502 |
14,571,681 |
15,654,610 |
|
30/09/2011 |
468,688,797 |
1,031,428 |
13,887,264 |
12,713,615 |
|
Date of latest accounts |
Balance
Total |
Number of Employees |
Capital |
Cashflow |
|
30/09/2013 |
114,499,444 |
60 |
2,232,000 |
3,229,170 |
|
30/09/2012 |
123,072,544 |
58 |
2,232,000 |
2,496,711 |
|
30/09/2011 |
111,890,893 |
58 |
2,232,000 |
823,017 |
Past payments Payment expectation days 13.83
Industry average payment Industry
average day sales
expectation days 118.30 outstanding 153.42
Day sales outstanding 65.75
Business number 402950965
Company name STEELFORCE NV
Fax number 032241079
Date founded 04/07/1950
Company status active
Company type
Public
Limited Liability Company (BE)
Currency Euro (€)
Date of latest accounts
30/09/2013
Activity code 24100
Liable for VAT
yes
Activity description Manufacture of basic iron and steel and of
ferro-alloys (ECSC)*
VATNumber BE.0402.950.965
Social Balance Sheet Total
During the reporting year
ended 30-09-2013
Full-time Employees 53
Part-time Employees 7
Total Fte Employees 59
Number of hours worked
Full-time Employees 86,003
Part-time Employees 8,829
Total 94,832
Personnel Charges
Full-time Employees
5,064,810
Part-time Employees 546,769
Total 5,611,579
Benefits In Addition ToWages –
Average number employees in Fte 57
Actual working hours 92,396
Personnel Charges 5,886,039
Benefits In Addition ToWages -
Type of Contract
Full-Time Part-Time Total Fte
Unlimited Duration 55
7 61
Contracts
Gender and Education
Level
Men
Full-Time Part-Time Total Fte
Higher education
(university) 23 -- 23
Women Full-Time
Part-Time Total Fte
Higher education
(university)
32 7 38
Working Category
Full-Time Part-Time Total Fte
White collar worker
55
7 61
New staff and leavers Full-Time Part-Time Total Fte
New Starters
10
- 10
Leavers 7
1 8
JIC Code 226
Description JC employees
international trade, transport & related activities
Event Date 24/02/2014
Event Description re-appointment of
director(s)
Event Details Commentaar
24-02-2014:Worden herbenoemd als bestuurders voor 3 jaar: François
Alexander (tevens als gedelegeerd
bestuurder), Karel Pannemans en SteelForce Group N V.
Annual accounts 30-09-2013 % 30-09-2012 % 30-09-2011 Industry
Average 2013 %
Weeks 52 52 52
Currency EUR EUR EUR
Turnnover 574,722,430 3.28 556,494,948 18.73 468,688,797 127,791,693 349
Total operating expenses 564,545,101 3.08 547,699,120 18.07 463,881,884 127,809,008 341
Operating result 10,177,329 15.71 8,795,827 82.98 4,806,912 -59,755 17031
Total financial income 11,144,410 -15.14 13,133,113 29.93 10,108,069 4,378,177 154
Total financial expenses 16,616,210 -10.94 18,656,438 34.38 13,883,553 1,020,184 1528
Results on ordinary operations before
Taxation 4,705,529 43.79 3,272,502 217 1,031,428 2,968,704 58.50
Taxation 1,598,942 78.40 896,259 186 312,891 94,307 1595
Results on ordinary operations after
Taxation 3,106,587 30.74 2,376,243 230 718,537 2,899,675 7.14
Extraordinary items -27,615 - 0 - 0 -3,362,611 0.82
Other appropriations 0.00 - 0.00 - 0.00 - -
Net result 3,078,972 29.57 2,376,243 230 718,537 -462,509 665
other information
Gross Operating Margin - - - - - 131,157 -
Dividends - - 1,200,000 - - 6,104,786 -
Director remuneration - - - - - - -
Employee costs 5,611,579 -4.66 5,886,039 29.90 4,531,108 7,274,806 -22.86
Wages and salary 3,962,765 -4.99 4,170,884 42.09 2,935,483 5,112,757 -22.49
Employee pension costs - - - - - 814,492 -
Social security contributions 1,088,605 7.40 1,013,562 26.30 802,518 1,959,174 -44.44
Other employee costs 560,209 -20.15 701,594 -11.54 793,107 262,662 113
Amortization and depreciation 150,198 24.68 120,468 15.30 104,480 1,076,852 -86.05
Annual accounts 30-09-2013
% 30-09-2012 % 30-09-2011 Industry
Average 2013 %
Weeks 52 52 52
Currency EUR EUR EUR
Intangible fixed assets 183,808 - 11,279 - 14,453 57,395 220
Tangible fixed assets 798,939 -6.77 856,919 -5.39 905,780 6,439,981 -87.59
Land & building 615,461 -9.02 676,508 -8.28 737,555 2,524,139 -75.62
Plant & machinery - - - - - 6,818,111 -
Furniture & Vehicles 183,478 1.70 180,411 7.24 168,225 89,232 8,395 105
Leasing& Other Similar Rights
- - - - - 1,376,002
96,000 -
Other tangible assets 0 - 0 - 0 185,531 -100
Financial fixed assets 26,254 -83.61 160,153 -40.21 267,869 15,774,540 -99
Total fixed assets 1,009,001 -1.88 1,028,350 -13.45 1,188,102 15,655,279 -93.55
Inventories 9,631,068 -47.47 18,332,695 -30.42 26,348,233 10,874,301 -11.43
Raw materials & consumables - - - - - 11,466,076 -
Work in progress 0 - 0 - 0 905,002 -100
Finished goods 9,631,068 -47.47 18,332,695 -30.42 26,348,233 2,528,676 280
Other stocks 0 - 0 - 0 56,108 -100
Trade debtors 103,533,113 0.31 103,217,122 25.80 82,050,485 8,441,378 1126
Cash 102,831 -59.70 255,169 -86.60 1,904,594 3,475,778 -97.04
other amounts receivable 27,295 - 0 -100 153,094 3,458,189 -99
Miscellaneous current assets 196,136 -18.01 239,207 -2.91 246,386 1,233,816 -84.10
Total current assets 113,490,442 -7.01 122,044,194 10.24 110,702,791 21,882,760 418
Total Asset 114,499,444 -6.97 123,072,544 9.99 111,890,893 35,117,119
841,670 226
Trade creditors 21,385,877 18.81 18,000,401 -26.78 24,582,400 7,401,835 188
Short term group loans - - - - - - -
Financial debts 66,315,041 -20.20 83,104,642 16.47 71,351,978 7,264,928
54,296 812
Current portion of
long term debt - - - - 62,944 6,607,632
29,776 --
Amounts Payable
for Taxes,
Remuneration&
Social Security 2,371,595 14.07 2,079,115 133 889,860 18,725
- 103
Miscellaneous current liabilities 2,814,999 -12.18 3,205,426 190 1,101,994 123 --
Total current liabilities 92,887,512 -12.69 106,389,584 8.57 97,989,176 13,959,944 565
Long term debts and liabilities
Long term group loans - - - - - - --
Other long term loans 3,950,000 88.10 2,100,000 - - -81.72 --
Deffered taxes - - - - - 35,210 13,196 -
Provisions for Liabilities & Charges 0 - 0 - 0 1,376,817 0 -100
Other long term liabilities 0 - 0 - 0 18,932 -100
Total long term debts 3,950,000 88.10 2,100,000 - 0 10,534,545 -62.50
shareholders equity
Issued share capital 2,232,000 0 2,232,000 0 2,232,000 9,646,705 -76.86
Share premium account - - - - - 6,467 -
Reserves 15,429,932 24.93 12,350,960 5.84 11,669,716 940,460 1540
Revaluation reserve - - - - - 486,809 -
Total shareholders equity 17,661,932 21.11 14,582,960 4.90 13,901,716 10,622,629 66.27
Working capital 20,602,931 31.61 15,654,610 23.13 12,713,615 7,922,815 160
Cashflow 3,229,170 29.34 2,496,711 203 823,017 392,312 723
Net worth 17,478,124 19.95 14,571,681 4.93 13,887,264 10,565,234 65.43
Annual
accounts 30-09-2013 change(%) 30-09-2012 change(%) 30-09-2011
Industry average
2013 %
Trading performance
Profit Before Tax 0.82 38.98 0.59 168 0.22 78,00 -98.95
Return on capital employed 21.77 10.96 19.62 164 7.42 5,00 335
Return on total assets
Employed 4.11 54.51 2.66 189 0.92 -2,00 205
Return on net assets employed 26.64 18.72 22.44 202 7.42 10,00 166
Sales / net working capital 27.90 -21.52 35.55 -3.58 36.87 1,00 -99
Stock turnover ratio 1.68 -48.94 3.29 -41.46 5.62 17,00 -90.12
Debtor days 65.75 -2.88 67.70 5.95 63.90 153,42 -57.14
Creditor days 13.83 15.25 12 -37.95 19.34 118,30 -88.31
short term stability
Current ratio 1.22 6.09 1.15 1.77 1.13 134,00 -59.33
Liquidity ratio / acid ratio 1.12 15.46 0.97 12.79 0.86 134,00 -99
Current debt ratio 5.26 -27.95 7.30 3.55 7.05 3,00 75.33
long term stability
Gearing 397.83 -31.91 584.28 13.74 513.71 110,00 261
Equity in percentage 15.45 30.38 11.85 -4.67 12.43 -152,00 10.16
Total debt ratio 5.48 -26.34 7.44 5.53 7.05 3,00 82.67
Activity code 24100
Activity description Manufacture of
basic iron and steel and of ferro-alloys (ECSC)*
Payment expectation days 13.83
Day sales outstanding
65.75
Payment expectations
Company result 13.83
Lower 109.24
Median 68.48
Upper 41.10
Company result 65.75
Lower 84.14
Median 51.31
Upper 28.18
Minority Shareholders
No minority shareholders found
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 FRANÇOIS ALBERT
LODEWIJK ALEXANDER Show all 2 [+]
Position Managing Director
Start Date 02/04/2012
Street 25 LODEWIJK DE
KONINCKSTRAAT ANTWERPEN
Post code 2600
Country Belgium
Position Director
Start Date 11/04/2014
Street 25 LODEWIJK DE
KONINCKSTRAAT ANTWERPEN
Post code 2600
Country Belgium
Name WATERKEYN
INVESTMENTS BVBA
Position Legal
Representative
Start Date 24/02/2014
Date of birth 02/03/2006
Street 41 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Name PENDOLIMA BVBA
Show all 2 [+]
Position Director
Start Date 20/12/2011
End Date 03/03/2017
Date of birth 07/06/2010
Street 4 DENNENLAAN KASTERLEE
Post code 2460
Country Belgium
Position Legal
Representative
Start Date 20/12/2011
Date of birth 07/06/2010
Street 4 DENNENLAAN
KASTERLEE
Post code 2460
Country Belgium
Name STEELFORCE GROUP
NV Show all 2 [+]
Position Director
Start Date 22/06/2014
Date of birth 25/04/2002
Street 16 LANGE
KLARENSTRAAT ANTWERPEN
Post code 2000
Country Belgium
Position Legal
Representative
Start Date 20/12/2011
Date of birth 25/04/2002
Street 16 LANGE
KLARENSTRAAT ANTWERPEN
Post code 2000
Country Belgium
Name LUCIEN HUGO
JOANNES SMOLDERS
Position Director
Start Date 24/02/2014
End Date 27/02/2017
Street 21 DIEPESTRAAT
HOVE
Post code 2540
Country Belgium
Name KURT CONSTANT EMMA
CROLLET
Position Director
Start Date 20/12/2011
Date of birth 29/10/1967
Street 2 DE NOTELAAR
WOMMELGEM
Post code 2160
Country Belgium
Name KAREL PANNEMANS
Position Director
Start Date 29/03/2008
End Date 03/03/2014
Street 49 RODEDREEF
SCHILDE
Post code 2970
Country Belgium
Name JEROME PIERRE
FRANCINE WATERKEYN
Position Director
Start Date 01/01/2005
End Date 20/12/2011
Street 41 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Name CROFIMA BVBA Show
all 2 [+]
Position Director
Start Date 29/03/2006
End Date Unknown date
Date of birth 12/03/2003
Street 2 DE NOTELAAR
WOMMELGEM
Post code 2160
Country Belgium
Position Legal
Representative
Start Date 29/03/2006
End Date Unknown date
Date of birth 12/03/2003
Street 2 DE NOTELAAR WOMMELGEM
Post code 2160
Country Belgium
Name GUIDO GUILLAUME
HEMELEERS
Position Director
Start Date 01/01/2005
End Date Unknown date
Date of birth 21/11/1961
Street 40 MORRENWEG
TERVUREN
Post code 3080
Country Belgium
Name WOLFGANG SCHMID
Position Director
Start Date 24/01/2008
End Date Unknown date
Date of birth 10/05/1940
Street 90 SLOTLAAN
BRUSSEL
Post code 1200
Country Belgium
Name JOSEPH BROKKEN
Position Director
Start Date 06/07/1999
End Date Unknown date
Date of birth 22/10/1948
Street 53 DENNENWEG
HAACHT
Post code 3150
Country Belgium
Name ARMAND STAFF
Position Director
Start Date 11/11/1997
End Date Unknown date
Street 3 HAGEDOORNLAAN
SCHILDE
Post code 2970
Country Belgium
Name GEORGES KAUL
Position Director
Start Date 15/05/1997
End Date Unknown date
Street 26 ALBERTLAAN
WEZEMBEEK-OPPEM
Post code 1970
Country Belgium
Name SERGIO KORN Show
all 2 [+]
Position Managing Director
Start Date 15/05/1997
End Date Unknown date
Street 424 LOUIZALAAN
BRUSSEL
Post code 1050
Country Belgium
Position Director
Start Date 06/07/1999
End Date Unknown date
Street 424 LOUIZALAAN
BRUSSEL
Post code 1050
Country Belgium
Name BERNARD WILDMANN
Position Director
Start Date 11/10/1997
End Date Unknown date
Street 588 FOREST MANOR
2-59 JINFENG LU
Post code 201107
Country China
Name Compagnie des
Long-Courriers en liquidation SA
Business number 407942309
Position irector
Start Date 11/08/1997
End Date Unknown date
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.42 |
|
|
1 |
Rs.97.24 |
|
Euro |
1 |
Rs.77.92 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.