MIRA INFORM REPORT

Report No. :	318579
Report Date :	21.04.2015

IDENTIFICATION DETAILS

Name :	RANGOLEE BVBA

Registered Office :	Frankrijklei 33-Bus 16 2000 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2013

Date of Incorporation :	04.09.2002

Com. Reg. No.:	478317688

Legal Form :	One Person Private Limited Company (BE)

Line of Business :	Wholesale of wearing apparel, except work and underwear

No. of Employees :	1

RATING & COMMENTS

MIRA’s Rating :

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 :	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

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 shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the government maintained the budget deficit below the euro-zone threshold of 3% of GDP for a second year in a row. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

Source : CIA

Company summary

Business number 478317688

Company name RANGOLEE BVBA

Address FRANKRIJKLEI 33-BUS 16

2000 ANTWERPEN

Number of staff 0

Date of establishment 04/09/2002

Telephone number

Fax number

Ultimate holding company

Safe number Company name Company Number

- - -

Commentary

The business was established over 12 years ago.

The business has 1 employees.

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

There has been no significant change in the business's credit limit.

Net Worth decreased by 27% during the latest trading period.

The business saw a decrease in their Cash Balance of 85% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX NET WORTH	WORKING CAPITAL	DATE OF LATEST ACCOUNTS
31/12/2013		-10,935 92,798	91,788	31/12/2013
31/12/2012		-63,523 128,348	127,196	31/12/2012
31/12/2011		200,232 243,554	244,735	31/12/2011

Accounts

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES CAPITAL	CASHFLOW	DATE OF LATEST ACCOUNTS
31/12/2013	310,020	0 18,600	-35,104	31/12/2013
31/12/2012	357,243	0 18,600	-114,609	31/12/2012
31/12/2011	334,425	1 18,600	205,366	31/12/2011

Payment expectations

Past payments Payment expectation days -

Industry average payment expectation days 121.17 Industry average day sales outstanding 78.90

Day sales outstanding –

Court data summary

BANKRUPTCY DETAILS

Court action type no

PROTESTED BILLS

Bill amount -

NSSO DETAILS

Date of summons 19/05/2014

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	1,010	-12.33	1,152	-12.66	1,319	-77.64	5,898	-58.53	14,222
Intangible fixed assets	0	-	0	-	0	-	0	-	0
Tangible fixed assets	1,010	-12.33	1,152	-12.66	1,319	-77.64	5,898	-45.86	10,893
Land & building	-	-	-	-	-	-	-	-	-
Plant & machinery	-	-	-	-	-	-	-	-	-
Furniture & Vehicles	1,010	-12.33	1,152	-12.66	1,319	-77.64	5,898	-45.86	10,893
Leasing & Other Similar Rights	-	-	-	-	-	-	-	-	-
Other tangible assets	0	-	0	-	0	-	0	-	0
Financial fixed assets	-	-	-	-	-	-	-	-	3,329

Total current assets	309,010	-13.22	356,091	6.90	333,106	112	156,705	3.35	151,628
Inventories	100,166	12.65	88,916	0	88,916	-11.50	100,473	8.58	92,536
Raw materials & consumables	-	-	-	-	-	-	-	-	-
Work in progress	0	-	0	-	0	-	0	-	0
Finished goods	0	-	0	-	0	-	0	-	0
Other stocks	100,166	12.65	88,916	0	88,916	-11.50	100,473	8.58	92,536
Trade debtors	0	-100	54,750	-20.57	68,929	-	0	-100	21,398
Other amounts receivable	207,638	1.72	204,130	24.04	164,574	252	46,681	58.86	29,385

Cash	1,206	-85.46	8,295	-22.38	10,687	11.89	9,551	14.95	8,309
Miscellaneous current assets	0	-	0	-	0	-	0	-	0
Total Assets	310,020	-13.22	357,243	6.82	334,425	105	162,603	-1.96	165,850

Liabilities

Total shareholders equity	92,798 -27.70				128,348 -47.30				243,554		462 43,322 -52.59 91,378
Issued share capital	18,600 0				18,600		0		18,600		0 18,600 0			18,600
Share premium account
Reserves	74,198		-32.39	109,748		-51.21		224,954		809		24,722	-66.03		72,778
Provisions for Liabilities & Charges	0		-	0		-		0		-		0	-		0

Deffered taxes - - - - - - - - -

Creditors		217,222	-5.10	228,895		151		90,871		-23.82		119,281	60.17		74,472

Other long term loans		-	-	-		-		2,500		-78.44		11,597	-66.76		34,891
Long term group loans		-	-	-		-		-		-		-	-		-
Other long term liabilities		0	-	0		-		0		-		0	-		0
Total long term debts		0	-	0		-100		2,500		-78.44		11,597	-66.76		34,891

Current portion of long term debt		-	-	12,500		37.41		9,097		-23.55		11,900	-		-
Financial debts		59,221	-3.87	61,606		20.18		51,260		34.36		38,151	56.50		24,377
Trade creditors		49,692	-11.14	55,922		2200		2,431		-94.87		47,346	727		5,720
Amounts Payable for Taxes, Remuneration & Social Security		30,887	-29.71	43,945		113		20,583		289		5,287	47.81		3,577

Miscellaneous current liabilities		77,422	40.97	54,922		998		5,000		0		5,000	-15.35		5,907
Total current liabilities		217,222	-5.10	228,895		159		88,371		-17.93		107,684	172		39,581

Total Liabilities		310,020	-13.22	357,243		6.82		334,425		105		162,603	-1.96		165,850

Ratio Analysis

TRADING PERFORMANCE

Profit Before Tax	-	-	-	-	-	-	-	-	-

Return on capital employed	-11.78	23.80	-49.49	-160	81.38	1695	-4.80	-144	10.83

Return on total assets employed	-3.53	19.85	-17.78	-129	59.87	3695	-1.62	-119	8.25

Return on net assets employed	-11.78	23.80	-49.49	-160	82.21	1349	-6.09	-140	14.97

Sales / net working capital	-	-	-	-	-	-	-	-	-

Stock turnover ratio	-	-	-	-	-	-	-	-	-

Creditor days	-	-	-	-	-	-	-	-	-
Debtor days	-	-	-	-	-	-	-	-	-

SHORT TERM STABILITY

Current ratio	1.42	-8.97	1.56 -5	-58.62	3.77	158	1.46	-61.88	3.83

Liquidity ratio / acid ratio	0.96	-17.95	1.17	-57.61	2.76	430	0.52	-65.10	1.49

Current debt ratio	2.34	31.46	1.78	394	0.36	-85.54	2.49	479	0.43

Liquidity ratio reprocessed	-	-	-	-	-	-	-	-	-

Cashflow	-35104	30.63	-114609	155	205366	476	-43061	-327	18887

Net worth	92,798	-27.700	128,348	-47.30	243,554	462	43,322	-52.59	91,378

LONG TERM STABILITY

Current ratio	1.42	-8.97	1.56	-58.62	3.77	158	1.46	-61.88	3.83
Liquidity ratio / acid ratio	0.96	-17.95	1.17	-57.61	2.76	430	0.52	-65.10	1.49
Current debt ratio	2.34	31.46	1.78	394	0.36	-85.54	2.49	479	0.43
Liquidity ratio reprocessed	-	-	-	-	-	-	-	-	-
Cashflow	-35,104	30.63	-114,609	-155	205,366	476	-43,061	-327	18,887
Net worth	92,798	-27.70	128,348	-47.30	243,554	462	43,322	-52.59	91,378

Profit & loss
Operating Income	-	-	-	-	-	-	-	-	-
Turnover	-	-	-	-	-	-	-	-	-
Total operating expenses	-	-	-	-	-	-	-	-	-
Gross Operating Margin	51,603	432	9,690	-96.23	256,808	244	74,649	109	35,711
Operating Charges	-	-	-	-	-	-	-	-	-
Employee costs	41,783	-36.26	65,551	63.22	40,162	118	18,357	75.95	10,433
Wages and salary	35,710	-34.47	54,497	58.51	34,380	110	16,346	72.23	9,491
Employee pension costs	-	-	-	-	-	-	-	-	-
Social security contributions	6,073	-45.06	11,054	91.18	5,782	187	2,011	125	893
Other employee costs	0	-	0	-	0	-	0	-100	49
Director remuneration	-	-	-	-	-	-	-	-	-
Amortization and depreciation	446	-25.29	597	-88.37	5,134	2.78	4,995	-4.13	5,210
Operating result	8,042	13.93	-57,718	-127	209,185	362	45,207	140	18,764
Total financial income	578	-92.64	7,854	-50.16	15,758	67.44	9,411	16.49	8,079
Total financial expenses	19,555	43.17	13,659	-44.73	24,711	-56.84	57,256	334	13,166
Results on ordinary operations before taxation	-10,935	17.21	-63,523	-131	200,232	7590	-2,638	-119	13,677
Extraordinary Income	-	-	-	-	-	-	-	-	-
Extraordinary Charges	-	-	-	-	-	-	-	-	-
Extraordinary items	0	-	0	-	0	-	0	-	0
Results for the Year Before Taxation	-10,935	17.21	-63,523	-131	200,232	7590	-2,638	-119	13,677
Other appropriations	-	-	-	-	-	-	-	-	-
Taxation	24,615	-52.37	51,683	-	-	-	45,418	-	-
Results on ordinary operations after taxation	-35,550	30.86	-115,206	-157	200,232	416	-48,056	-451	13,677
Net result	-35,550	30.86	-115,206	-157	200,232	416	-48,056	-451	13,677
Profit (Loss) for the Year to be appropiated	-35,550	30.86	-115,206	-157	200,232	416	-48,056	-451	13,677
Dividends	-	-	-	-	-	-	-	-	-

Social Balance Sheet Details

Social Balance Sheet	Total
During the reporting year
ended 31-12-2013
Full-time Employees	-
Part-time Employees	1
Total Fte Employees	1
Number of hours worked
Full-time Employees	-
Part-time Employees	844
Total	844
Personnel Charges
Full-time Employees	-
Part-time Employees	41,783
Total	41,783
Benefits In Addition To Wages	-
During the previous reporting year
Average number employees in Fte	1
Actual working hours	1,463
Personnel Charges	65,551
Benefits In Addition To Wages	-

Type of Contract	Full-Time	Part-Time	Total Fte
Unlimited Duration	-	1	1
Contracts
Limited Duration Contracts	-	-	-
Contracts For Specific Work	-	-	-
Contracts Regarding	-	-	-
Substitution
Gender and Education
Level
Men	Full-Time	Part-Time	Total Fte
Primary education	-	-	-
Secondairy education	-	-	-
Higher education (non	-	-	-
university)
Higher education	-	-	-
(university)
Women	Full-Time	Part-Time	Total Fte
Primary education	-	-	-
Secondairy education	-	-	-
Higher education (non	-	-	-
university)
Higher education	-	1	1
(university)
Working Category	Full-Time	Part-Time	Total Fte
Management	-	-	-
White collar worker	-	1	1
Blue collar worker	-	-	-
Other	-	-	-

Temporary personnel	Total
Average number of temporary staff	-
Actual working hours	-
Cost of temporary staff	-

Total of formal continuing vocational training initiatives
for workers paid by the employer	Male	Female
Number of employees	-	-
Number of training hours	-	-
Net costs for enterprise	-	-
Total of less formal and informal continuing vocational
training initiatives for workers paid by the employer	Male	Female
Number of employees	-	-
Number of training hours	-	-
Net costs for enterprise	-	-
Total of initial training initiatives at the expense of the
employer	Male	Female
Number of employees	-	-
Number of training hours	-	-
Net costs for enterprise	-	-

Limit History
no limit history data found
Industry comparison
Activity code	46423
Activity description	Wholesale of wearing apparel, except work and underwear
industry average credit	58.53
rating
Industry average credit limit	21941.20

Payment Information

Payment Information Summary
Total number of Invoices available	11
Total number of Invoices paid within or up to 30 days after the due date	6
Total number of Invoices paid more than 30 days after the due date	3
Total number of Invoices currently outstanding where the due date has not yet been reached	2
Total number of Invoices currently outstanding beyond the due date	0

Suspension of payments / moratorium history
Amount	-
Details	-

Payment expectations
Payment expectation days	-
Day sales outstanding	-
Industry comparison
Activity code	46423
Activity description	Wholesale of wearing apparel, except work and underwear
Industry average payment	121.17
Industry average day sales	78.90

Industry Quartile Analysis

Payment Expectations

Company result	-
Lower	77.63
Median	32.65
Upper	8.77

Day sales outstanding
Company result	-
Lower	107.86
Median	49.93

Shareholder Details

Summary

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

Linked Companies

Summary

Summons

Legal event type	Social Security Summons
Event date	19/05/2014
Court type	Court name	Antwerpen
Creditor's name	3rd party type
Legal event type	Social Security Summons
Event date	17/03/2014
Court type	Court name	Antwerpen
Creditor's name	3rd party type
Legal event type	Social Security Summons
Event date	16/09/2013
Court type	Court name	Antwerpen
Creditor's name	3rd party type
Legal event type	Social Security Summons
Event date	18/03/2013
Court type	Court name	Antwerpen
Creditor's name	3rd party type
Legal event type	Social Security Summons
Event date	18/02/2013
Court type		Court name	Antwerpen
Creditor's name	Rijksdienst voor Sociale Zekerheid	3rd party type	Summoning Party
Legal event type	Social Security Summons
Event date	17/09/2012
Court type	Court name	Antwerpen
Creditor's name	3rd party type
Legal event type	Social Security Summons
Event date	18/06/2012
Court type	Court name	Antwerpen
Creditor's name	3rd party type

Protested Bills

There is no data for this company

Bankruptcy and other legal events

There is no data for this company

Director details

Name	AISHWERYA PURI
Position	Principal Manager
Start Date	16/10/2013
Date of birth	03/05/1982
Street	124 FRUITHOFLAAN ANTWERPEN
Post code	2600
Country	Belgium
Name	AISHWERYA PUR
Position	Principal Manager
Start Date	02/01/2006
Street	124 FRUITHOFLAAN ANTWERPEN
Post code	2600
Country	Belgium

Former director details

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.56
UK Pound	1	Rs.93.56
Euro	1	Rs.67.49

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	VNT

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.

Business number	478317688	Company name	RANGOLEE BVBA
Fax number		Date founded	04/09/2002
Company status	active	Company type	One Person Private Limited Company (BE)
Currency	Euro (€)	Date of latest accounts	31/12/2013
Activity code	46423	Liable for VAT	yes
Activity description	Wholesale of wearing apparel, except work and underwear	VAT Number	BE.0478.317.688 Check VAT number
Belgian Bullettin of Acts Publications	moniteur belge