MIRA INFORM REPORT

 

 

Report No. :

316514

Report Date :

07.04.2015

 

IDENTIFICATION DETAILS

 

Name :

DIAGEM BVBA

 

 

Registered Office :

Hoveniersstraat 30-Bus Bureel 307, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.08.1985

 

 

Com. Reg. No.:

427517996

 

 

Legal Form :

Private  Limited  Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES

 

 

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 :

No Complaints

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Belgium

A2

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

 

Company summary

 

Business number                     427517996

Company name                        DIAGEM BVBA

Address                                   HOVENIERSSTRAAT 30-BUS BUREEL 307

2018 ANTWERPEN

Number of staff                        0

Date of establishment               01/08/1985

Telephone number                   032343607

Fax number                              032253124

 

 

Commentary

 

The business was established over 29 years ago.

The business has 2 employees.

The business has been at the address for over 17 years.

A 21% decline in Total Assets occurred during the latest trading period.

The business saw an increase in their Cash Balance of 150% during the latest trading period.

 

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

25,883,130

150,143

1,843,905

3,153,793

31/12/2012

27,473,944

182,969

1,736,920

2,436,220

31/12/2011

29,699,916

163,159

1,609,312

2,299,105

 

 

 

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

9,104,036

0

18,592

118,207

31/12/2012

11,550,858

0

18,592

138,691

31/12/2011

8,857,821

0

18,592

127,103

 

 

 

Payment expectations

 

Past payments

 

Payment expectation days

26.62

Industry average payment expectation days

126.57

Industry average day sales outstanding

185.54

Day sales outstanding

94.97

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                      no

PROTESTED BILLS

Bill amount                              -

NSSO DETAILS

Date of summons                     -

 

 

Company information

 

Business  number

427517996

Company  name

DIAGEM  BVBA

Fax  number

032253124

Date  founded

01/08/1985

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.0427.517.996  Check  VAT number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Company accounts

 

Assets

 

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

190,112

-5.28

200,700

-4.52

210,207

-1.75

213,956

-4.44

223,898

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

188,592

-5.32

199,180

-4.56

208,687

-1.76

212,436

-4.47

222,378

Land  &  building

183,903

-4.73

193,043

-4.52

202,183

-4.33

211,323

-4.15

220,463

Plant  &  machinery

4,690

-23.59

6,137

-5.64

6,504

484

1,113

-40.89

1,883

Furniture  &  Vehicles

-

-

-

-

-

-

-

-

32

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

1,520

0

1,520

0

1,520

0.00

1,520

0

1,520

Total  current  assets

8,913,923

-21.46

11,350,158

31.25

8,647,614

13.57

7,614,191

26.91

5,999,609

Inventories

2,160,050

-1.40

2,190,735

112

1,031,057

-33.56

1,551,765

35.67

1,143,801

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

2,160,050

-1.40

2,190,735

112

1,031,057

-33.56

1,551,765

35.67

1,143,801

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

6,734,815

-26.37

9,146,918

20.33

7,601,634

26.14

6,026,161

24.44

4,842,674

Other  amounts  receivable

4,567

25.75

3,631

47.97

2,454

-89.47

23,296

916

2,292

Cash

10,911

150

4,363

-45.13

7,952

-6.53

8,507

16.50

7,302

Miscellaneous  current  assets

3,582

-20.59

4,510

-0.16

4,518

1.24

4,462

26.05

3,540

Total  Assets

9,104,036

-21.18

11,550,858

30.40

8,857,821

13.15

7,828,147

25.78

6,223,507

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

1,843,905

6.16

1,736,920

7.93

1,609,312

7.77

1,493,299

3.74

1,439,504

Issued  share  capital

18,592

0

18,592

0

18,592

0.00

18,592

0

18,592

Share  premium  account

-

-

-

-

-

-

-

-

-

 

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

1,825,313

6.23

1,718,328

8.02

1,590,720

7.87

1,474,707

3.79

1,420,912

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

7,260,130

-26.02

9,813,938

35.39

7,248,509

14.42

6,334,848

32.42

4,784,003

Other  long  term  loans

1,500,000

66.67

900,000

0

900,000

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-100

900,000

0

900,000

Total  long  term  debts

1,500,000

66.67

900,000

0

900,000

0

900,000

0

900,000

Current  portion  of  long  term  debt

-

-

-

-

6,788

33.45

5,087

-59.48

12,553

Financial  debts

3,751,881

-12.59

4,292,289

247

1,236,938

-55.41

2,773,924

187

964,348

Trade  creditors

1,854,558

-53.55

3,992,646

-10.31

4,451,610

145

1,811,087

-13.39

2,091,196

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

15,000

-70.36

50,612

41.57

35,750

195

12,096

79.20

6,750

Miscellaneous  current  liabilities

138,691

-76.02

578,392

-6.32

617,423

-25.85

832,654

2.90

809,156

Total  current  liabilities

5,760,130

-35.38

8,913,938

40.41

6,348,509

16.81

5,434,848

39.93

3,884,003

Total  Liabilities

9,104,036

-21.18

11,550,858

30.40

8,857,821

13.15

7,828,147

25.78

6,223,507

 

Ratio  Analysis

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.58

-13.43

0.67

21.82

0.55

77.42

0.31

-6.06

0.33

Return  on  capital  employed

4.49

-35.30

6.94

6.77

6.50

110

3.09

11.96

2.76

Return  on  total  assets  employed

1.65

4.43

1.58

-14.13

1.84

93.68

0.95

-8.65

1.04

Return  on  net  assets  employed

8.14

-22.70

10.53

3.85

10.14

104

4.96

10.47

4.49

Sales  /  net  working  capital

8.21

-27.22

11.28

-12.69

12.92

17.45

11.00

18.15

9.31

Stock  turnover  ratio

8.35

4.77

7.97

129

3.47

-46.37

6.47

11.36

5.81

Creditor  days

26.62

-50.61

53.90

-1.71

54.84

97.41

27.78

-29.88

39.62

Debtor  days

94.97

-21.85

121.52

30.08

93.42

1.81

91.76

2.21

89.78

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.55

22.05

1.27

-6.62

1.36

-2.86

1.40

-9.09

1.54

Liquidity  ratio  /  acid  ratio

1.17

13.59

1.03

-14.17

1.20

7.14

1.12

-10.40

1.25

Current  debt  ratio

3.12

-39.18

5.13

30.20

3.94

8.24

3.64

34.81

2.70

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

118,207

-14.77

138,691

9.12

127,103

99

63,737

5.63

60,342

Net  worth

1,843,905

6.16

1,736,920

7.93

1,609,312

7.77

1,493,299

3.74

1,439,504

Long Term Stability

 

 

 

 

 

 

 

 

 

Gearing

284.82

-4.72

298.94

124

133.21

-28.42

186.10

174

67.86

Equity  in  percentage

20.25

34.64

15.04

-17.23

18.17

-4.77

19.08

-17.51

23.13

Total  debt  ratio

3.94

-30.27

5.65

25.56

4.50

6.13

4.24

27.71

3.32

Working  capital

3,153,793

29.45

2,436,220

5.96

2,299,105

5.50

2,179,343

3.01

2,115,606

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

 

Operating  Income

25,883,130

-5.79

27,473,944

-7.49

29,699,916

23.90

23,970,713

21.76

19,687,443

Turnover

25,883,130

-5.79

27,473,944

-7.49

29,699,916

23.90

23,970,713

21.76

19,687,443

Total  operating  expenses

25,427,751

-5.95

27,037,060

-8.75

29,630,193

24.54

23,791,962

23.49

19,266,832

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

25,427,751

-5.95

27,037,060

-8.75

29,630,193

24.54

23,791,962

23.49

19,266,832

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

84,000

0

84,000

Amortization  and  depreciation

11,221

1.24

11,084

-0.06

11,090

11.55

9,942

-5.08

10,474

Operating  result

455,379

4.23

436,883

526

69,724

-60.99

178,751

-57.50

420,611

Total  financial  income

92

-99

38,091

-88.84

341,398

345

76,591

65926

116

Total  financial  expenses

305,328

4.56

292,005

17.76

247,962

36.79

181,278

-49.10

356,157

Results on ordinary operations before taxation

150,143

-17.94

182,969

12.14

163,159

120

74,064

14.70

64,570

Extraordinary Income

-

-

-

-

-

-

-

-

-

Extraordinary Charges

-

-

-

-

-

-

-

-

-

Extraordinary Items

0

-

0

-

0

-

0

-

0

Results for the year before taxation

150,143

-17.94

182,969

12.14

163,159

120

74,064

14.70

64,570

Other appropriation

-

-

-

-

-

-

-

-

-

Taxation

43,157

-22.04

55,362

17.43

47,146

132

20,269

37.87

14,702

Results on ordinary operations after taxation

106,986

-16.16

127,607

9.99

116,013

115

53,795

7.87

49,868

Net result

106,986

-16.16

127,607

9.99

116,013

115

53,795

7.87

49,868

Profit (Loss) for the year to be appropriated

106,986

-16.16

127,607

9.99

116,013

115

53,795

7.87

49,868

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry Comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

 

 

Payment expectations

 

Payment expectation days

26.62

Day sales outstanding

94.97

 

 

Industry comparison

 

Activity code

46761

Activity description

Wholesale  of  diamonds  and  other  precious  stones

Industry average payment expectation days

126.57

Industry average day sales outstanding

185.54

 

 

Industry quartile analysis

 

Payment expectations

Company result                        26.62

Lower                                       120.34

Median                                     74.63

Upper                                       46.13

 

Day sales outstanding

 

Company result                        94.97

Lower                                       102.27

Median                                     53.69

Upper                                       24.18

 

 

Shareholder details

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

Companies that match this address

No Companies match this address

 

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

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Name

NILESH  CHANDRAKANT  DHIRAJ  PATEL

Position

Principal  Manager

Start  Date

14/06/1995

Street

22 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.15

UK Pound

1

Rs.92.74

Euro

1

Rs.68.23

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               


 

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.