MIRA INFORM REPORT

 

 

Report No. :

316360

Report Date :

13.04.2015

 

IDENTIFICATION DETAILS

 

Name :

GEMDIAM  BVBA

 

 

Registered Office :

BELGIËLEI  102 2018 ANTWERPEN

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

06.04.1982

 

 

Com. Reg. No.:

422578322

 

 

Legal Form :

Private  Limited  Company (BL/LX)

 

 

Line of Business :

Wholesale  of  diamonds  and other  precious  stones

 

 

No. of Employee :

Not Available

 

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

422578322

Company  name

GEMDIAM  BVBA

Address

BELGIËLEI  102

 

2018 ANTWERPEN

Number  of  staff

0

Date  of  establishment

06/04/1982

Telephone  number

032816791

 

 

Commentary

 

The  business  was  established  over  33  years  ago. The  business  has  2  employees.

 

The  business  has  been  at  the  address  for  over  12  years. There  has  been  no  significant  change  in  the  business's  credit  limit. The  credit  rating  for  this  business  has  decreased  from  92  to  85.

 

Operating  Result  in  the  latest  trading  period  increased  673%  on  the  previous  trading  period. Net  Worth  increased  by  73%  during  the  latest  trading  period.

 

Pre-tax  profits  increased  by  1643%  compared  to  the  previous  trading  period. The  business  saw  a  decrease  in  their  Cash  Balance  of  77%  during  the  latest  trading  period. Turnover  in  the  latest  trading  period  increased  106%  on  the  previous  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

 

 

31/12/2013

7,717,368

13,716

25,611

15,850

 

31/12/2012

3,735,842

787

14,737

3,787

 

31/12/2011

2,611,173

-1,492

13,950

11,521

 

 

Accounts

                                                                                                                              

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

52,880

0

18,592

19,650

31/12/2012

56,089

0

18,592

9,739

31/12/2011

89,716

0

18,592

-840

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

0.03

 

Industry  average  payment

126.57

Industry  average  day  sales

185.54

 

expectation  days

 

outstanding

 

 

Day  sales  outstanding

0.12

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court  action  type

no

 

PROTESTED  BILLS

Bill  amount

-

 

NSSO DETAILS

Date  of  summons

-

 

 

Company information

 

Business  number

422578322

Company  name

GEMDIAM  BVBA

 

 

Fax  number

 

Date  founded

06/04/1982

 

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.0422.578.322  Check  VAT

 

 

 

number

 

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

Personnel  (NSSO  classification)

 

Code

-

Description

-

Joint  Industrial  Committee  (JIC)

 

Company  accounts

 

 

 

Financials

 

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

27,027

-22.73

 

34,977

1339

2,430

 

46.91

1,654

 

27.09

1,301

 

 

Intangible  fixed  assets

0

-

0

 

-

0

 

-

0

 

-

0

 

 

Tangible  fixed  assets

25,726

-23.61

 

33,676

2885

1,128

 

219

353

 

-

-

 

 

Land  &  building

-

-

-

 

-

-

 

-

-

 

-

-

 

 

Plant  &  machinery

-

-

-

 

-

-

 

-

-

 

-

-

 

 

Furniture  &  Vehicles

25,726

-23.61

 

33,676

2885

1,128

 

219

353

 

-

-

 

 

Leasing  &  Other  Similar  Rights

-

-

-

 

-

-

 

-

-

 

-

-

 

 

Other  tangible  assets

0

-

0

 

-

0

 

-

0

 

-

0

 

 

Financial  fixed  assets

1,301

0

1,301

 

0.03

1,301

 

-0.03

1,301

 

0

1,301

 

 

Total  current  assets

25,853

22.46

 

21,112

-75.81

87,286

 

-91.78

 

1,061,445

1455

68,227

 

 

Inventories

17,327

-

-

 

-

-

 

-

73,199

 

7.81

67,894

 

 

Raw  materials  &  consumables

-

-

-

 

-

-

 

-

-

 

-

-

 

 

Work  in  progress

0

-

0

 

-

0

 

-

0

 

-

0

 

 

Finished  goods

0

-

0

 

-

0

 

-

0

 

-

0

 

 

Other  stocks

17,327

-

0

 

-

0

 

-100

73,199

 

7.81

67,894

 

 

Trade  debtors

2,525

3575

69

 

-

0

 

-100

982,807

 

-

0

 

 

Other  amounts  receivable

1,395

70.04

820

 

-25.77

1,105

 

48.48

744

 

164

282

 

 

Cash

4,607

-77.22

 

20,223

-76.53

86,180

 

1735

4,694

 

9160

51

 

 

Miscellaneous  current  assets

0

-

0

 

-100

1

 

-

0

 

-

0

 

 

Total  Assets

52,880

-5.72

 

56,089

-37.48

89,716

 

-91.56

 

1,063,099

1429

69,528

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

 

 

25,611

73.79

14,737

5.64

13,950

-9.66

15,442

247

-6,228

 

 

 

Issued  share  capital

 

 

18,592

0

18,592

0.00

18,592

0.00

18,592

0

18,592

 

 

 

Share  premium  account

 

 

   -

-

-

-

-

-

-

-

-

 

 

 

Revaluation  reserve

 

 

-

-

-

-

-

-

-

-

 

 

 

 

Revaluation  reserve

-

-

-

-

-

-

-

-

-

 

 

Reserves

7,019

182

-3,855

83.05

-4,642

-47.38

-3,150

12.69

-24,820

 

 

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

 

 

Deffered  taxes

-

-

-

-

-

-

-

-

-

 

 

Creditors

27,269

-34.06

41,352

-45.42

75,765

-92.77

1,047,657

1282

75,756

 

 

Other  long  term  loans

17,266

-28.14

24,027

-

-

-

-

-

-

 

 

Long  term  group  loans

-

-

-

-

-

-

-

-

-

 

 

Other  long  term  liabilities

0

-

0

-100

1

-

0

-

0

 

 

Total  long  term  debts

17,266

-28.14

24,027

2402613

1

-

0

-

0

 

 

Current  portion  of  long  term  debt

6,761

3.27

6,547

-

-

-

-

-

-

 

 

Financial  debts

-

-

-

-

-

-

1,062

7548

14

 

 

Trade  creditors

569

887

58

-44.08

103

-99

971,204

123384

787

 

 

Amounts  Payable  for  Taxes,  Remuneration  &

2,670

-

-

-

3,000

-

-

-

-

 

 

Social  Security

 

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

 

3

-99

10,720

-85.25

72,662

-3.62

75,390

0.58

74,956

 

 

Total  current  liabilities

 

10,003

-42.26

17,325

-77.13

75,765

-92.77

1,047,657

1282

75,756

 

Total  Liabilities

 

52,880

-5.72

56,089

-37.48

89,716

-91.56

1,063,099

1429

69,528

 

ratio  analysis

 

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.18

800

0.02

33.33

-0.06

 

-105

1.08

-

-

 

Return  on  capital  employed

31.99

1475

2.03

18.99

-10.69

 

-107

140.33

216

44.29

 

Return  on  total  assets  employed

25.94

1752

1.40

84.34

-1.66

 

-181

2.04

51.39

-3.97

 

Return  on  net  assets  employed

53.56

902

5.34

49.91

-10.70

 

-107

140.33

216

44.29

 

Sales  /  net  working  capital

486.89

-50.65

986.60

335

226.64

 

55.25

145.98

-

-

 

Stock  turnover  ratio

0.22

-

-

-

-

-

 

3.64

-

-

 

Creditor  days

0.03

200

0.01

0

0.01

 

-99

178.16

-

-

 

Debtor  days

0.12

1100

0.01

-

-

-

 

178.22

-

-

 

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

 

Current  ratio

2.58

111

1.22

6.09

1.15

 

13.86

1.01

12.22

0.90

 

Liquidity  ratio  /  acid  ratio

0.85

-30.33

1.22

6.09

1.15

 

22.34

0.94

-

0.00

 

Current  debt  ratio

0.39

-66.95

1.18

-78.27

5.43

 

-92.00

67.84

557

-12.16

 

Liquidity  ratio  reprocessed

-

-

-

-

-

-

 

-

-

-

 

Cashflow

19,650

101

9,739

1159

-840

 

-103

21,846

791

-2,759

 

Net  worth

25,611

73.79

14,737

5.64

13,950

 

-9.66

15,442

247

-6,228

LONG  TERM  STABILITY

Gearing

93.81

-54.78

207.47

-

-

-

6.88

3127

-0.22

 

Equity  in  percentage

48.43

84.35

26.27

68.94

15.55

972

1.45

16.18

-8.96

 

Total  debt  ratio

1.06

-62.28

2.81

-48.25

5.43

-92.00

67.84

557

-12.16

 

Working  capital

15,850

318

3,787

-67.13

11,521

-16.44

13,788

183

-7,529

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

 

Turnover

7,717,368

106

3,735,842

43.07

2,611,173

29.73

2,012,852

-

-

 

Total  operating  expenses

7,699,441

106

3,733,524

43.00

2,610,857

31.22

1,989,704

-

-

 

Gross  Operating  Margin

27,991

103

13,743

676

1,770

-92.54

23,726

1130

-2,099

 

Operating  Charges

-

-

-

-

-

-

-

-

-

 

Employee  costs

-

-

-

-

-

-

-

-

-

 

Wages  and  salary

-

-

-

-

-

-

-

-

-

 

Employee  pension  costs

-

-

-

-

-

-

-

-

-

 

Social  security  contributions

-

-

-

-

-

-

-

-

-

 

Other  employee  costs

0

-

0

-

0

-

0

-

0

 

Director  remuneration

-

-

-

-

-

-

-

-

-

 

Amortization  and  depreciation

8,776

-1.97

8,952

1273

652

269

176

-

-

 

Operating  result

17,927

673

2,318

633

316

-98.63

23,148

857

-2,699

 

Total  financial  income

-

-

-

-

-

-

-

-

-

 

Total  financial  expenses

4,210

174

1,532

-15.28

1,808

22.31

1,478

2383

60

 

Results  on  ordinary  operations  before  taxation

13,716

1643

787

52.72

-1,492

-106

21,670

785

-2,759

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

 

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

 

Extraordinary  items

0

-

0

-

0

-

0

-

0

 

Results  for  the  Year  Before  Taxation

13,716

1643

787

52.72

-1,492

-106

21,670

785

-2,759

 

Other  appropriations

-

-

-

-

-

-

-

-

-

 

Taxation

2,842

-

-

-

-

-

-

-

-

 

Results  on  ordinary  operations  after  taxation

10,874

1282

787

52.72

-1,492

-106

21,670

785

-2,759

 

Net  result

10,874

1282

787

52.72

-1,492

-106

21,670

785

-2,759

 

Profit  (Loss)  for  the  Year  to  be  appropiated

10,874

1282

787

52.72

-1,492

-106

21,670

785

-2,759

 

Dividends

-

-

-

-

-

-

-

-

-

 

Industry  comparison

 

 

Activity  code

46761

 

Activity  description

 

Wholesale  of  diamonds  and  other  precious  stones

industry  average  credit

64.48

 

rating

 

 

Industry  average  credit  limit

140177.31

 

Payment  Information

 

 

 

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

Payment  expectations

 

Payment  expectation  days

0.03

Day  sales  outstanding

0.12

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

126.57

 

expectation days

Industry  average  day  sales

185.54

 

Industry  quartile  analysis Payment  expectations

Company  result

0.03

 

 

Lower

120.34

 

Median

74.63

 

Upper

46.13

 

Day  sales  outstanding

 

 

 

Company  result

0.12

 

Lower

102.27

 

Median

53.69

 

Upper

24.18

 

Shareholder  Details

 

 

 

Summary

 

 

 

Group  -  Number  of  Companies

0

 

 

Linkages  -  Number  of  Companies

0

 

 

Number  of  Countries

0

 

 

 

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

Business  number

Company  name

Date  of  accounts

 

 

404912642

LES  ETABLISSEMENTS  SCHWERNER

-

 

408410877

AKIM  VZW

-

 

424510206

OPTIBELZ  BVBA

31/12/2013

 

424510206

OPTIBELZ  BVBA

31/12/2013

 

435855147

SHOSHANA  DIAM  BVBA

31/12/2013

 

450904104

CONSOLIDATED  TRAFALGAR  TRADING  NV

-

 

505147393

SCHARF  HENRI  CHAIM

-

 

505283589

GRUN  MICHEL

-

 

897838829

MEHTA  NIRAL

-

 

Linked  Companies

Summary

 

 

 

Group  -  Number  of  Companies

0

 

Linkages  -  Number  of  Companies

0

 

Number  of  Countries

0

 

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

RUSHIN  HARESH  CHOKSI

 

Position

Principal  Manager

 

Start  Date

01/10/2010

 

Street

102 BELGIËLEI  ANTWERPEN

 

Post  code

2018

 

Country

Belgium

 

Former director details

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.37

UK Pound

1

Rs.91.60

Euro

1

Rs.66.49

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

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.