MIRA INFORM REPORT

Report No. :	319356
Report Date :	27.04.2015

IDENTIFICATION DETAILS

Name :	YDI (BELGIUM) BVBA

Registered Office :	Hoveniersstraat 53-Bus 23, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2013

Date of Incorporation :	22.07.2009

Com. Reg. No.:	817289534

Legal Form :	Private Limited Company

LINE OF BUSINESS :	SUBJECT IS ENGAGED IN WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES

No. of Employee :	1

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

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 name

YDI (BELGIUM) BVBA

Company summary

Business number	817289534
Branche Unit Number	2180847634
Company name	YDI (BELGIUM) BVBA
Address	HOVENIERSSTRAAT 53-BUS 23
	2018 ANTWERPEN
Number of staff	1
Date of establishment	22/07/2009
Telephone number	032062222
Fax number

Commentary

The business was established over 5 years ago. The business has 1 employees.

The business has been at the address for over 5 years. Operating Result in the latest trading period decreased 32% on the previous trading period. Pre-tax profits decreased by 86% compared to the previous trading period. The business saw an increase in their Cash Balance of 26% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2013		1,712	50,230	36,063
31/12/2012		12,433	46,776	33,671
31/12/2011		20,274	44,445	29,794
Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2013	1,356,192	1	18,600	7,817
31/12/2012	1,603,193	1	18,600	14,869
31/12/2011	1,398,248	1	18,600	17,434

Payment expectations

Past payments		Payment expectation days	-
Industry average payment	126.79	Industry average day sales	185.63
expectation days		outstanding
Day sales outstanding	-

Court data summary

BANKRUPTCY DETAILS

Court action type

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

Publications

Contractor details

Registered contractor	-
number
Contractor description	-
Date struck off register

Personnel (NSSO classification)
Code	-
Description	-

Joint Industrial Committee (JIC)
Significant Events
Event Date	25/02/2014
Event Description	authority appointed
Event Details	Commentaar 31-03-2014: Intrekking volmacht van Dave Bajkowski. Volmacht aan Rose Lanxner
	met ingang van 01/04/2014.

Event Date	23/01/2014
Event Description	authority appointed
Event Details	Commentaar 23-01-2014: Volmacht wordt verleend aan Bajkowski Dave om de dagelijkse
	briefwisseling te ondertekenen en alle handelingen die betrekking hebben op het beheer van de
	dagelijkse zaken van de commerciële en administratieve dienste

Event Date	23/01/2014
Event Description	authority appointed
Event Details	n van de maatschappij, in het kader en in de perken van de dagelijkse uitbating, te vervullen.

Company accounts

Assets
Annual accounts	31-12-2013	%	31-12-2012	%	31-12-2011	%	31-12-2010
Weeks	52		52		52		75
Currency	EUR		EUR		EUR		EUR
Total fixed assets	17,064	-8.72	18,694	25.36	14,912	-7.10	16,052
Intangible fixed assets	2,897	-48.17	5,589	2041	261	-60.50	661
Tangible fixed assets	13,967	8.23	12,905	-10.70	14,452	-4.86	15,191
Land & building	-	-	-	-	-	-	-
Plant & machinery	9,362	28.39	7,292	-13.26	8,407	17.03	7,184
Furniture & Vehicles	4,605	-17.97	5,614	-7.13	6,045	-24.51	8,007
Leasing & Other Similar Rights	-	-	-	-	-	-	-
Other tangible assets	0	0	-1	-	0	-	0
Financial fixed assets	200	0	200	0	200	0	200
Total current assets	1,339,128	-15.49	1,584,499	14.54	1,383,336	-48.42	2,682,097
Inventories	-	-	-	-	-	-	-
Raw materials & consumables	-	-	-	-	-	-	-
Work in progress	0	-	0	-	0	-	0
Finished goods	0	-	0	-	0	-	0
Other stocks	0	-	0	-	0	-	0
Trade debtors	1,207,715	-17.50	1,463,948	23.06	1,189,594	-48.40	2,305,538
Other amounts receivable	3,513	-83.11	20,801	28.09	16,239	62.10	10,018
Cash	125,545	26.89	98,939	-44.02	176,755	-51.72	366,087
Miscellaneous current assets	2,355	190	811	8.28	749	65.21	453
Total Assets	1,356,192	-15.41	1,603,193	14.66	1,398,248	-48.18	2,698,148

Liabilities

Total shareholders equity	53,127	1.46	52,365	17.13	44,706	40.60	31,796
Issued share capital	18,600	0	18,600	0	18,600	0	18,600
Share premium account	-	-	-	-	-	-	-
Revaluation reserve	-	-	-	-	-	-	-
Reserves	34,527	2.26	33,765	29.34	26,106	97.84	13,196
Provisions for Liabilities & Charges	0	-	0	-	0	-	0
Deffered taxes	-	-	-	-	-	-	-
Creditors	1,303,065	-15.98	1,550,828	14.58	1,353,542	-49.24	2,666,353
Other long term loans	-	-	-	-	-	-	-
Long term group loans	-	-	-	-	-	-	-
Other long term liabilities	0	-	0	-	0	-	0
Total long term debts	0	-	0	-	0	-	0
Current portion of long term debt	-	-	-	-	-	-	-
Financial debts	-	-	-	-	-	-	-
Trade creditors	1,181,533	-11.45	1,334,277	15.55	1,154,768	-54.49	2,537,586
Amounts Payable for Taxes, Remuneration & Social	17,099	-14.85	20,081	-10.05	22,325	17.42	19,013
Security
Miscellaneous current liabilities	104,433	-46.85	196,470	11.35	176,449	60.77	109,754
Total current liabilities	1,303,065	-15.98	1,550,828	14.58	1,353,542	-49.24	2,666,353
Total Liabilities	1,356,192	-15.41	1,603,193	14.66	1,398,248	-48.18	2,698,148

ratio analysis
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	-	-
Return on capital employed	3.22	-86.44	23.74	-47.65	45.35	-29.01	63.88
Return on total assets employed	0.13	-83.33	0.78	-46.21	1.45	93.33	0.75
Return on net assets employed	3.22	-86.44	23.74	-47.65	45.35	-29.01	63.88
Sales / net working capital	-	-	-	-	-	-	-
Stock turnover ratio	-	-	-	-	-	-	-
Creditor days	-	-	-	-	-	-	-
Debtor days	-	-	-	-	-	-	-
SHORT TERM STABILITY

Current ratio	1.03	0.98	1.02	0	1.02	0.99	1.01
Liquidity ratio / acid ratio	1.03	0.98	1.02	0	1.02	0.99	1.01
Current debt ratio	24.53	-17.18	29.62	-2.18	30.28	-63.89	83.86
Liquidity ratio reprocessed	-	-	-	-	-	-	-
Cashflow	7,817	-47.43	14,869	-14.71	17,434	-6.85	18,716
Net worth	50,230	7.38	46,776	5.24	44,445	42.75	31,135
LONG TERM STABILITY
Gearing	-	-	-	-	-	-	-
Equity in percentage	3.93	19.82	3.28	2.50	3.20	171	1.18
Total debt ratio	24.53	-17.18	29.62	-2.18	30.28	-63.89	83.86
Working capital	36,063	7.10	33,671	13.01	29,794	89.24	15,744
Profit & loss
Operating Income	-	-	-	-	-	-	-
Turnover	-	-	-	-	-	-	-
Total operating expenses	-	-	-	-	-	-	-
Gross Operating Margin	94,295	-6.19	100,518	-9.42	110,968	7.18	103,534
Operating Charges	-	-	-	-	-	-	-
Employee costs	67,837	1.30	66,969	2.94	65,055	9.26	59,540
Wages and salary	51,104	2.10	50,055	3.01	48,592	12.12	43,339
Employee pension costs	-	-	-	-	-	-	-
Social security contributions	11,837	3.78	11,406	6.29	10,731	4.75	10,244
Other employee costs	4,896	-11.09	5,507	-3.91	5,731	-3.79	5,957
Director remuneration	-	-	-	-	-	-	-
Amortization and depreciation	7,055	-2.15	7,210	59.37	4,524	-18.05	5,520
Operating result	15,952	-32.71	23,708	-39.11	38,934	5.61	36,866
Total financial income	61	-95.51	1,358	51.56	896	8675	10
Total financial expenses	14,300	13.20	12,633	-35.40	19,557	18.07	16,564
Results on ordinary operations before taxation	1,712	-86.23	12,433	-38.68	20,274	-0.19	20,313
Extraordinary Income	-	-	5,107	225	1,568	422	300
Extraordinary Charges	-	-	5,676	261	1,568	-	-
Extraordinary items	0	0	-569	-	0	-100	300
Results for the Year Before Taxation	1,712	-85.57	11,864	-41.48	20,274	-1.64	20,613
Other appropriations	-	-	-	-	-	-	-
Taxation	950	-77.41	4,205	-42.89	7,363	-0.73	7,417
Results on ordinary operations after taxation	762	-90.74	8,228	-36.27	12,911	0.12	12,896
Net result	762	-90.05	7,659	-40.67	12,910	-2.16	13,196
Profit (Loss) for the Year to be appropiated	762	-90.05	7,659	-40.67	12,910	-2.16	13,196
Dividends	-	-	-	-	-	-	-
Net result	762	-90.05	7,659	-40.67	12,910	-2.16	13,196
Profit (Loss) for the Year to be appropiated	762	-90.05	7,659	-40.67	12,910	-2.16	13,196
Dividends	-	-	-	-	-	-	-

Social Balance Sheet Details


Social Balance Sheet Details
Social Balance Sheet	Total
During the reporting year
ended 31-12-2013
Full-time Employees	1
Part-time Employees	1
Total Fte Employees	1

Number of hours worked
Full-time Employees			1,740
Part-time Employees			89
Total			1,829

Personnel Charges
Full-time Employees			65,297
Part-time Employees			2,540
Total			67,837
Benefits In Addition To Wages			-

During the previous reporting year
Average number employees in Fte			1
Actual working hours			1,893
Personnel Charges			66,969
Benefits In Addition To Wages			-

Type of Contract		Full-Time	Part-Time	Total Fte
Unlimited Duration		1	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 1 1 1

Secondairy education - - -

Higher education (non university) - - -

Higher education (university) - - -

Working Category	Full-Time	Part-Time	Total Fte
Management	-	-	-
White collar worker	1	-	1
Blue collar worker	-	1	0
Other	-	-	-
Temporary personnel		Total
Average number of temporary staff		-
Actual working hours		-
Cost of temporary staff		-
New staff and leavers	Full-Time	Part-Time	Total Fte
New Starters	-	-	-
Leavers	-	-	-

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	-	-

Payment Information

Suspension of payments / moratorium history
Amount	-
Details	-
Payment expectations
Payment expectation days	-
Day sales outstanding	-

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment	126.79
expectation days
Industry average day sales	185.63
outstanding

Industry quartile analysis
Payment expectations
Company result	-
Lower	120.44
Median	74.61
Upper	45.88

Day sales outstanding
Company result	-
Lower	102.27
Median	54.14
Upper	24.31

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

no Companies Match this address

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	ROBERT FLUK
Position	Principal Manager
Start Date	01/02/2014
Street
Post code
Country	Israël
Former director details
Name	DAVE BAJKOWSKI
Position	Principal Manager
Start Date	22/07/2009
End Date	31/01/2014
Street
Post code
Country	Israël
Name	ABRAHAM FLUK
Position	Principal Manager
Start Date	22/07/2009
End Date	30/06/2010
Street
Post code
Country	Israël

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.49

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	ASH

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.

MIRA INFORM REPORT

Company name

Company summary

Commentary

Accounts

Payment expectations

Court data summary

Company information

Publications

Company accounts

Social Balance Sheet Details

Payment Information

Shareholder Details

Linked Companies

Summons

Protested Bills

Bankruptcy and other legal events

Director details

Unit