MIRA INFORM REPORT

 

 

Report No. :

334378

Report Date :

03.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SARA DIAMONDS BVBA

 

 

Registered Office :

Belgiėlei  25-Bus  5 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

30.03.2012

 

 

Com. Reg. No.:

845059149

 

 

Legal Form :

Private  Limited  Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 the budget deficit was 3.2% of GDP. 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 Summery

 

Business  number

845059149

Branche  Unit  Number

2208558950

Company  name

SARA  DIAMONDS  BVBA

Address

BELGIĖLEI  25-BUS  5

 

2018 ANTWERPEN

Number  of  staff

0

Date  of  establishment

30/03/2012

Telephone  number

032817156

Fax  number

 

 

 

Commentary

 

No  employees  are  recorded  for  this  business. The  business  has  been  at  the  address  for  over  3  years. Net  Worth  increased  by  54%  during  the  latest  trading  period. Pre-tax  profits  increased  by  77%  compared  to  the  previous  trading  period. The  business  saw  a  decrease  in  their  Cash  Balance  of  63%  during  the  latest  trading  period.

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

 

40,043

63,400

63,269

31/12/2013

 

22,516

41,116

40,198

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

2,265,362

0

18,600

23,071

31/12/2013

2,073,517

0

18,600

23,958

 

Trends

 

Profitability

Liquidity

Net  worth

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

104.46

Industry  average  day  sales

182.76

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

845059149

Company  name

SARA  DIAMONDS  BVBA

Fax  number

 

Date  founded

30/03/2012

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

46761

Liable  for  VAT

Yes

Activity  description

Wholesale  of  diamonds  and

VAT  Number

BE.0845.059.149  Check  VAT

 

other  precious  stones

 

number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

Publications

 

 

 

 

Contractor details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

Personnel  (NSSO  classification)

 

Code

-

Description

-

Joint  Industrial  Committee  (JIC)

 

 

 

Company accounts

 

Assets

 

 

 

 

Annual  accounts

31-12-2014

%

31-12-2013

 

Weeks

52

 

92

 

Currency

EUR

 

EUR

 

Total  fixed  assets

131

-85.71

918

 

Intangible  fixed  assets

0

-

0

 

Tangible  fixed  assets

131

-85.71

918

 

Land  &  building

-

-

-

 

Plant  &  machinery

131

-85.71

918

 

Furniture  &  Vehicles

-

-

-

 

Leasing  &  Other  Similar  Rights

-

-

-

 

Other  tangible  assets

0

-

0

 

Financial  fixed  assets

-

-

-

 

Total  current  assets

2,265,231

9.29

2,072,599

 

Inventories

772,206

-22.71

999,119

 

Raw  materials  &  consumables

-

-

-

 

Work  in  progress

0

-

0

 

Finished  goods

0

-

0

 

Other  stocks

772,206

-22.71

999,119

 

Trade  debtors

1,466,015

45.66

1,006,434

 

Other  amounts  receivable

3,760

63.73

2,297

 

Cash

23,249

-63.66

63,980

 

Miscellaneous  current  assets

0

-100

769

 

Total  Assets

2,265,362

9.25

2,073,517

 

Liabilities

 

 

 

 

Total  shareholders  equity

 

63,400

54.20

41,116

Issued  share  capital

 

18,600

0

18,600

Share  premium  account

 

-

-

-

 

Revaluation  reserve

-

-

-

Reserves

44,800

98.97

22,516

Provisions  for  Liabilities  &  Charges

0

-

0

Deffered  taxes

-

-

-

Creditors

2,201,962

8.34

2,032,401

Other  long  term  loans

-

-

-

Long  term  group  loans

-

-

-

Other  long  term  liabilities

0

-

0

Total  long  term  debts

0

-

0

Current  portion  of  long  term  debt

-

-

-

Financial  debts

-

-

16,445

Trade  creditors

1,934,629

-3.94

2,013,987

Amounts  Payable  for  Taxes,  Remuneration  &  Social  Security

12,000

509

1,969

Miscellaneous  current  liabilities

255,333

-

0

Total  current  liabilities

2,201,962

8.34

2,032,401

Total  Liabilities

2,265,362

9.25

2,073,517

 

 

Ratio  analysis

 

 

 

TRADING  PERFORMANCE

 

 

 

Profit  Before  Tax

-

-

-

Return  on  capital  employed

63.16

15.34

54.76

Return  on  total  assets  employed

1.77

62.39

1.09

Return  on  net  assets  employed

63.16

15.34

54.76

Sales  /  net  working  capital

-

-

-

Stock  turnover  ratio

-

-

-

Creditor  days

-

-

-

Debtor  days

-

-

-

SHORT  TERM  STABILITY

 

 

 

Current  ratio

1.03

0.98

1.02

Liquidity  ratio  /  acid  ratio

0.68

28.30

0.53

Current  debt  ratio

34.73

-29.74

49.43

Liquidity  ratio  reprocessed

-

-

-

Cashflow

23,071

-3.70

23,958

Net  worth

63,400

54.20

41,116

 

 

 

 

LONG TERM STABILITY

 

 

 

Gearing

-

-

40.00

Equity  in  percentage

2.80

41.41

1.98

Total  debt  ratio

34.73

-29.74

49.43

Working  capital

63,269

57.39

40,198

 

 

Profit  &  loss

 

 

 

Operating  Income

-

-

-

Turnover

-

-

-

Total  operating  expenses

-

-

-

Gross  Operating  Margin

124,901

1700

-7,344

Operating  Charges

-

-

-

Employee  costs

-

-

-

Wages  and  salary

-

-

-

Employee  pension  costs

-

-

-

Social  security  contributions

-

-

-

Other  employee  costs

0

-

0

Director  remuneration

-

-

-

Amortization  and  depreciation

787

-45.45

1,442

Operating  result

123,080

1259

-9,772

Total  financial  income

510,240

113

238,782

Total  financial  expenses

593,277

187

206,495

Results  on  ordinary  operations  before  taxation

40,043

77.85

22,516

Extraordinary  Income

-

-

-

Extraordinary  Charges

-

-

-

Extraordinary  items

0

-

0

Results  for  the  Year  Before  Taxation

40,043

77.85

22,516

Other  appropriations

-

-

-

Taxation

17,759

-

-

Results  on  ordinary  operations  after  taxation

22,284

-1.03

22,516

Net  result

22,284

-1.03

22,516

Profit  (Loss)  for  the  Year  to  be  appropiated

22,284

-1.03

22,516

Dividends

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2014

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

-

 

Total  Fte  Employees

 

-

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

-

 

Total

 

-

 

Personnel  Charges

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

-

 

Total

 

-

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

-

 

Actual  working  hours

 

-

 

Personnel  Charges

 

-

 

Benefits  In  Addition  To  Wages

 

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

-

-

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 (university)

-

-

-

 

Working Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White collar worker

-

-

-

Blue collar worker

-

-

-

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 expectation days

104.46

Industry average day sales outstanding

182.76

 

Industry quartile analysis Payment  expectations

 

Company  result

-

Lower

118.32

Median

75.69

Upper

45.40

 

Day sales outstanding

 

Company  result

-

Lower

102.27

Median

54.88

Upper

25.13

 

 

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

KALPESH  PATEL

Position

Principal  Manager

Start  Date

17/07/2014

Street

25 BELGIĖLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

Position

Non  Statutory  Partner

Start  Date

30/03/2012

Street

25 BELGIĖLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

Former director details

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.01

UK Pound

1

Rs.99.84

Euro

1

Rs.70.96

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

               

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.