MIRA INFORM REPORT

 

 

Report No. :

319786

Report Date :

28.04.2015

 

IDENTIFICATION DETAILS

 

Name :

AGEM JEWELS BVBA

 

 

Registered Office :

Schupstraat 18-20 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

29.10.1992

 

 

Com. Reg. No.:

448567590

 

 

Legal Form :

Private Limited Company (BL/LX)

 

 

Line of Business :

Wholesale of watches and jewellery

 

 

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 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                     448567590

Company name                        AGEM JEWELS BVBA

Address                                   SCHUPSTRAAT 18-20

2018 ANTWERPEN

Number of staff                        0

Date of establishment               29/10/1992

Telephone number                   032328576

Fax number                              032328576

 

 

Commentary

 

The business was established over 22 years ago.

The business has 1 employees.

The business has been at the address for over 19 months.

Net Worth increased by 1044% during the latest trading period.

A 360023% growth in Total Assets occurred during the latest trading period.

The business saw a decrease in their Cash Balance of 65% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

111,661

79,615

79,615

31/12/2012

 

-783

6,954

6,954

31/12/2011

 

-3,945

7,736

7,736

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

-

0

18,550

72,661

31/12/2012

-

0

18,550

-783

31/12/2011

-

0

18,550

-3,945

 

 

Trends

 

Profitability

Liquidity

Net worth

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

318.98

Industry  average  day  sales

503.75

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       no

 

PROTESTED BILLS

Bill amount                                -

 

NSSO DETAILS

Date of summons                     –

 

 

Company information

 

Business  number

448567590

Company  name

AGEM  JEWELS  BVBA

Fax  number

032328576

Date  founded

29/10/1992

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46480

Liable  for  VAT

yes

Activity  description

Wholesale  of  watches  and

VAT  Number

BE.0448.567.590  Check  VAT

 

jewellery

 

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)

 

Significant  Events

 

Event  Date

25/09/2013

Event  Description

Registered  as  a  Diamond  Trader

Event  Details

 

 

 

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

-

-

-

-

-

-

-

-

1,760

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

-

-

-

-

-

-

-

-

1,016

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

-

-

-

-

-

-

-

-

-

Furniture  &  Vehicles

-

-

-

-

-

-

-

-

1,016

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

744

Total  current  assets

25,319,536

360023

7,031

-12.26

8,013

-33.12

11,981

-73.15

44,621

Inventories

8,278,816

-

-

-

-

-

-

-

22,353

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

8,278,816

-

0

-

0

-

0

-100

22,353

Trade  debtors

17,035,509

-

0

-

0

-

0

-

0

Other  amounts  receivable

872

185

306

9.85

278

-88.06

2,331

-23.85

3,061

Cash

2,343

-65.16

6,725

-13.06

7,735

-19.84

9,650

-44.07

17,253

Miscellaneous  current  assets

1,996

-

0

-

0

-

0

-100

1,954

Total  Assets

25,319,536

360023

7,031

-12.26

8,013

-33.12

11,981

-74.17

46,381

 

 

LIABILITIES

 

Total  shareholders  equity

79,615

1044

6,954

-10.12

7,736

-33.77

11,681

-56.65

26,945

Issued  share  capital

18,550

0

18,550

0

18,550

0

18,550

0

18,550

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

61,065

526

-11,596

-7.24

-10,814

-57.43

-6,869

-181

8,395

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

25,239,921

32779017

77

-72.20

277

-7.67

300

-98.46

19,437

Other  long  term  loans

-

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

-

-

-

-

-

-

-

-

-

Trade  creditors

25,199,549

32726586

77

-72.20

277

-

-

-

803

Amounts  Payable  for  Taxes,  Remuneration  &

39,000

-

-

-

-

-

-

-

-

Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

1,372

-

0

-

0

-100

300

-98.39

18,634

Total  current  liabilities

25,239,921

32779017

77

-72.20

277

-7.67

300

-98.46

19,437

Total  Liabilities

25,319,536

360023

7,031

-12.26

8,013

-33.12

11,981

-74.17

46,381

 

 

RATIO ANALYSIS

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

140.25

1245

-11.26

22.08

-50.99

25.79

-197.73

-6340

-3.07

Return  on  total  assets  employed

0.44

3.95

-11.13

22.61

-49.23

25.54

-192.78

-10730

-1.78

Return  on  net  assets  employed

140.25

1245

-11.26

22.08

-50.99

25.79

-197.73

-6340

-3.07

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

 

SHORT  TERM  STABILITY

 

Current  ratio

1.00

-98.90

91.31

215

28.93

-27.57

39.94

1636

2.30

Liquidity  ratio  /  acid  ratio

0.68

-99

91.31

215

28.93

-27.57

39.94

3373

1.15

Current  debt  ratio

317.02

3170100

0.01

-75.00

0.04

33.33

0.03

-95.83

0.72

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

72,661

9283

-783

19.84

-3,945

25.84

-15,264

-3287

-451

Net  worth

79,615

1044

6,954

-10.12

7,736

-33.77

11,681

-56.65

26,945

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

-

-

-

-

Equity  in  percentage

0.31

-99

98.90

2.44

96.54

-0.98

97.50

67.84

58.09

Total  debt  ratio

317.02

3170100

0.01

-75.00

0.04

33.33

0.03

-95.83

0.72

Working  capital

79,615

1044

6,954

-10.12

7,736

-33.77

11,681

-53.62

25,185

 

 

PROFIT  &  LOSS

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

-106,898

-86646

-123

8.69

-1,418

6.24

-22,716

-2499

947

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

-

-

-

-

-

-

-

-

377

Operating  result

-107,536

-14697

-727

18.62

-3,904

16.92

-23,073

-3032

-737

Total  financial  income

219,524

-

-

-

-

-

-

-

0

Total  financial  expenses

327

484

56

36.55

41

70.75

24

-73.64

91

Results  on  ordinary  operations  before  taxation

111,661

14266

-783

19.84

-3,945

17.08

-23,097

-2690

-828

Extraordinary  Income

-

-

-

-

-

-

7,889

-

-

Extraordinary  Charges

-

-

-

-

-

-

55

-

-

Extraordinary  items

0

-

0

-

0

-100

7,834

-

0

Results  for  the  Year  Before  Taxation

111,661

14266

-783

19.84

-3,945

25.84

-15,264

-1744

-828

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

39,000

-

-

-

-

-

-

-

-

Results  on  ordinary  operations  after  taxation

72,661

9283

-783

19.84

-3,945

17.08

-23,097

-2690

-828

Net  result

72,661

9283

-783

19.84

-3,945

25.84

-15,264

-1744

-828

Profit  (Loss)  for  the  Year  to  be  appropiated

72,661

9283

-783

19.84

-3,945

25.84

-15,264

-1744

-828

Dividends

-

-

-

-

-

-

-

-

-

 

 

INDUSTRY COMPARISON

 

Activity code                            46480

Activity description                  Wholesale of watches and jewellery

industry average credit

rating                                       61.07

Industry average credit limit     7967.53

 

 

Payment Information

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

Amount

-

Details

-

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

-

Day  sales  outstanding

-

 

INDUSTRY  COMPARISON

 

Activity  code

46480

Activity  description

Wholesale  of  watches  and  jewellery

Industry  average  payment

318.98

Industry average day sales

outstanding

503.75

 

 

INDUSTRY QUARTILE ANALYSIS

 

Payment expectations

Company result            -

Lower                           127.87

Median                         63.03

Upper                           19.14

 

 

DAY SALES OUTSTANDING

 

Company result            -

Lower                           121.20

Median                         55.41

Upper                           21.01

 

 

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

 

 

INDIVIDUAL SHAREHOLDERS

 

SHAREHOLDER NAME

 

Forename

Urbain

Middle  name

-

Surname

WYSMANTEL

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

08/04/1997(estimated)

End  date

-

Percentage  owned

6%

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

De  Kluis

House  number

39

Minor  town

's  Gravenwezel

Postal  town

Schilde

Post  code

2970

Country

Belgium

SHAREHOLDER  NAME

 

 

 

Forename

Jozef

Middle  name

-

Surname

WYSMANTEL

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

08/04/1997(estimated)

End  date

-

Percentage  owned

16%

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

-

House  number

-

Minor  town

-

Postal  town

-

Post  code

-

Country

-

 

 

COMPANIES  THAT  MATCH  THIS  ADDRESS

 

Business  number

Company  name

Date  of  accounts

404629362

COBESCO  NV

31/12/2013

404965892

JAYAM  NV

31/03/2014

406397039

IMMO  CORPORATION  &  CO  BVBA

31/12/2013

456696982

GABI  S.  TOLKOWSKY  ANS  SONS  BVBA

31/12/2013

456756172

GABI  S  TOLKOWSKY  DESIGN  BVBA

31/12/2013

551947816

DIANEX  MANUFACTURING  BVBA

-

835419626

TOMCHEI  SHABBOS  OF  ANTWERP  VZW

-

879939458

JAYAM  JEWELLERY  NV

31/03/2014

881553816

LUMINIS  STAR  NV

31/12/2013

 

 

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

HENRI  POMERANZ

Position

Principal  Manager

Start  Date

19/09/2013

Street

26 ALBERTSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

Position

Non  Statutory  Partner

Start  Date

03/09/2013

Street

26 ALBERTSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

FORMER  DIRECTOR  DETAILS

 

Name

ABHA  KARNAWAT

Position

Principal  Manager

Start  Date

30/09/2013

End  Date

Unknown  date

Street

28 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

URBAIN  LEO  WYSMANTEL

Position

Principal  Manager

Start  Date

28/03/2007

End  Date

01/12/2010

Date  of  birth

05/01/1950

Street

16 MISSIONARISLEI  SCHOTEN

Post  code

2900

Country

Belgium

Position

Managing  Director

Start  Date

23/08/1997

End  Date

Unknown  date

Date  of  birth

05/01/1950

Street

16 MISSIONARISLEI  SCHOTEN

Post  code

2900

Country

Belgium

Position

Director

Start  Date

17/04/2007

End  Date

28/03/2007

Date  of  birth

05/01/1950

Street

16 MISSIONARISLEI  SCHOTEN

Post  code

2900

Country

Belgium

Name

AGEM  NV  (425293134)  BVBA

Position

Director

Start  Date

24/06/2000

End  Date

Unknown  date

Date  of  birth

06/02/1984

Street

33 FRANKRIJKLEI  ANTWERPEN

Post  code

2000

Country

Belgium

Name

URBAIN  WYSMANTEL

Position

Chairman  of  the  Board

Start  Date

01/12/1996

End  Date

Unknown  date

Street

39 DE  KLUIS  SCHILDE

Post  code

2970

Country

Belgium

Position

Managing  Director

Start  Date

01/12/1996

End  Date

Unknown  date

Street

39 DE  KLUIS  SCHILDE

Post  code

2970

Country

Belgium

Position

Director

Start  Date

01/12/1996

End  Date

Unknown  date

Street

39 DE  KLUIS  SCHILDE

Post  code

2970

Country

Belgium

Name

JOZEF  WYSMANTEL

Position

Director

Start  Date

01/12/1996

End  Date

Unknown  date

Street

 

Post  code

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.61

UK Pound

1

Rs.96.56

Euro

1

Rs.69.18

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.