MIRA INFORM REPORT

 

 

Report No. :

335728

Report Date :

04.08.2015

 

IDENTIFICATION DETAILS

 

Name :

MOGULDIAM BVBA

 

 

Registered Office :

Schupstraat 9 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

01.03.1978

 

 

Com. Reg. No.:

418170760

 

 

Legal Form :

Private Limited Company (BL/LX)

 

 

Line of Business :

Wholesale of Watches and Jewellery.

 

 

No. of Employee :

1

 

 

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 but correct

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 summary

 

Business number                     418170760

Company name                        MOGULDIAM BVBA

Address                                   SCHUPSTRAAT 9

2018 ANTWERPEN

Number of staff                        1

Date of establishment   01/03/1978

Telephone number                   032338303

Fax number                              032312345

 

 

Commentary

 

The business was established over 37 years ago.

The business has 1 employees.

The business has been at the address for over 7 years.

Operating Result in the latest trading period decreased 41% on the previous trading period.

Net Worth increased by 373% during the latest trading period.

Pre-tax profits decreased by 48% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 55% during the latest trading period.

Turnover in the latest trading period decreased 35% on the previous trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

20,575,969

35,430

44,925

32,174

31/12/2013

31,782,810

69,377

9,495

-6,225

31/12/2012

36,874,193

55,975

-63,002

-89,290

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

19,319,441

1

18,600

38,350

31/12/2013

17,903,168

1

18,600

75,381

31/12/2012

25,266,378

1

18,600

61,707

 

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

339.48

Industry  average  payment

321.63

Industry  average  day  sales

498.57

expectation  days

 

outstanding

 

Day  sales  outstanding

205.45

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                –

 

NSSO DETAILS

Date of summons                     –

 

 

Company information

 

Business  number

418170760

Company  name

MOGULDIAM  BVBA

Fax  number

032312345

Date  founded

01/03/1978

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

46480

Liable  for  VAT

yes

Activity  description

Wholesale  of  watches  and jewellery

VAT  Number

BE.0418.170.760  Check  VAT number

Belgian  Bullettin  of  Acts Publications

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

PERSONNEL  (NSSO  CLASSIFICATION)

 

Code

-

Description

-

 

 

JOINT  INDUSTRIAL  COMMITTEE  (JIC)

 

JIC  Code

218

Description

Additional  national  joint  committee  for  the  employees

category

 

 

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

 

 

Company accounts

 

ASSETS

 

Annual  accounts

31-12-2014

%

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

12,751

-18.89

15,720

-40.20

26,288

-19.24

32,550

-14.57

38,100

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

7,843

-27.12

10,762

-49.55

21,330

-22.69

27,592

-16.75

33,142

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

6,938

-28.05

9,643

-13.64

11,167

-17.33

13,507

-11.14

15,200

Furniture  &  Vehicles

905

-19.14

1,119

-88.99

10,163

-27.84

14,085

-21.50

17,942

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

4,908

-1.00

4,958

0

4,958

0

4,958

0

4,958

Total  current  assets

19,306,690

7.93

17,887,448

-29.13

25,240,090

0.52

25,110,428

13.60

22,103,380

Inventories

7,643,470

46.63

5,212,836

-47.16

9,865,271

-2.34

10,101,768

112

4,748,517

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

7,643,470

46.63

5,212,836

-47.16

9,865,271

-2.34

10,101,768

112

4,748,517

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

11,581,853

-7.51

12,521,777

-15.41

14,803,737

5.28

14,061,306

-15.46

16,633,620

Other  amounts  receivable

4,806

2.28

4,699

-16.38

5,619

16.58

4,820

27.52

3,780

Cash

56,528

-55.81

127,911

-76.60

546,578

-40.85

924,014

30.87

706,068

Miscellaneous  current  assets

20,033

-0.95

20,226

7.10

18,884

1.97

18,520

62.54

11,395

Total  Assets

19,319,441

7.91

17,903,168

-29.14

25,266,378

0.49

25,142,978

13.56

22,141,480

 

 

LIABILITIES

 

Total  shareholders  equity

44,925

373

9,495

15.07

-63,002

53.19

-118,447

47.20

-250,969

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

26,325

289

-9,105

11.16

-81,602

59.54

-137,047

50.84

-269,569

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

19,274,516

7.72

17,893,673

-29.36

25,329,380

0.27

25,261,425

12.81

22,392,449

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

19,088,846

7.66

17,730,210

-29.47

25,137,544

0.25

25,073,964

12.93

22,203,377

Amounts  Payable  for  Taxes,

10,111

0.22

10,090

-42.11

17,429

83.53

9,497

-18.21

11,611

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

175,559

14.47

153,374

-12.06

174,407

-2.00

177,964

0.28

177,460

Total  current  liabilities

19,274,516

7.72

17,893,673

-29.36

25,329,380

0.27

25,261,425

12.81

22,392,449

Total  Liabilities

19,319,441

7.91

17,903,168

-29.14

25,266,378

0.49

25,142,978

13.56

22,141,480

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

0.17

-22.73

0.22

46.67

0.15

-6.25

0.16

-50.0

0.32

Return  on  capital  employed

78.86

-89.21

730.70

822

-88.85

-202

-29.36

92.33

-31.80

Return  on  total  assets  employed

0.18

-53.85

0.39

77.27

0.22

57.14

0.14

-61.11

0.36

Return  on  net  assets  employed

78.86

-89.21

730.70

822

-88.85

-202

-29.36

92.33

-31.80

Sales  /  net  working  capital

639.52

12.53

-5,105.38

-1136

-412.97

-184

-145.30

-66.69

-87.17

Stock  turnover  ratio

37.15

126

16.40

-38.69

26.75

-41.90

46.04

144

18.85

Creditor  days

339.48

66.26

204.19

-18.13

249.42

-40.39

418.41

29.54

323.00

Debtor  days

205.45

42.87

143.80

-1.87

146.54

-37.36

233.94

-2.91

240.95

 

SHORT  TERM  STABILITY

 

Current  ratio

1.00

0

1.00

0

1.00

1.01

0.99

0

0.99

Liquidity  ratio  /  acid  ratio

0.61

-14.08

0.71

16.39

0.61

3.39

0.59

-24.36

0.78

Current  debt  ratio

429.03

-77.23

1,884.60

468

-402.04

-88.51

-213.27

-139

-89.22

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

38,350

-49.13

75,381

22.16

61,707

-55.63

139,086

65.48

84,051

Net  worth

44,925

373

9,495

15.07

-63,002

53.19

-118,447

47.20

-250,969

 

LONG  TERM  STABILITY

 

Gearing

-

-

-

-

-

-

-

-

-

Equity  in  percentage

0.23

360

0.05

20.0

-0.25

53.19

-0.47

41.59

-1.13

Total  debt  ratio

429.03

-77.23

1,884.60

468

-402.04

-88.51

-213.27

-139

-89.22

Working  capital

32,174

516

-6,225

6.97

-89,290

59.13

-150,997

52.24

-289,069

 

 

PROFIT & LOSS

 

Operating  Income

20,576,637

-35.26

31,783,475

-13.83

36,884,763

68.08

21,944,252

-12.91

25,197,122

Turnover

20,575,969

-35.26

31,782,810

-13.81

36,874,193

68.07

21,939,219

-12.93

25,196,852

Total  operating  expenses

20,523,742

-35.24

31,693,369

-13.84

36,785,807

68.18

21,873,233

-12.82

25,090,430

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

20,524,410

-35.24

31,694,034

-13.87

36,796,377

68.19

21,878,265

-12.80

25,090,699

Employee  costs

37,394

0.83

37,085

1.97

36,368

3.25

35,222

2.81

34,260

Wages  and  salary

30,053

0.83

29,806

2.16

29,177

3.64

28,152

2.93

27,350

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

6,451

0.12

6,443

4.32

6,176

1.95

6,058

4.32

5,807

Other  employee  costs

891

6.49

837

-17.59

1,015

0.25

1,013

-8.19

1,103

Director  remuneration

45,960

-

-

-

-

-

46,166

-

-

Amortization  and  depreciation

2,919

1.20

2,885

-53.94

6,262

-4.60

6,564

54.46

4,249

Operating  result

52,227

-41.61

89,441

1.19

88,386

33.94

65,987

-38.00

106,423

Total  financial  income

26

-70.48

87

10591

1

-97.19

29

698

4

Total  financial  expenses

16,823

-16.51

20,150

-37.83

32,412

3.74

31,242

17.34

26,625

Results  on  ordinary  operations

35,430

-48.93

69,377

23.94

55,975

60.97

34,774

-56.42

79,802

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

3,222

-

-

-

97,748

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-100

3,222

-

0

-100

97,748

-

0

Results  for  the  Year  Before

35,430

-51.20

72,599

29.70

55,975

-57.76

132,522

66.06

79,802

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

-1

-100

102

-80.68

530

-

-

-

-

Results  on  ordinary  operations

35,431

-48.85

69,275

24.94

55,445

59.44

34,774

-56.42

79,802

after  taxation

 

 

 

 

 

 

 

 

 

Net  result

35,431

-51.13

72,497

30.76

55,445

-58.16

132,522

66.06

79,802

Profit  (Loss)  for  the  Year  to  be appropiated

35,431

-51.13

72,497

30.76

55,445

-58.16

132,522

66.06

79,802

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2014

 

Full-time  Employees

1

Part-time  Employees

-

Total  Fte  Employees

1

Number  of  hours  worked

 

Full-time  Employees

1,771

Part-time  Employees

-

Total

1,771

Personnel  Charges

 

Full-time  Employees

37,394

Part-time  Employees

-

Total

37,394

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

1,771

Personnel  Charges

37,085

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

1

-

1

Higher  education  (non university)

-

-

-

Higher  education (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

-

 

 

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

-

-

 

 

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        339.48

Day sales outstanding 205.45

 

INDUSTRY COMPARISON

 

Activity code                            46480

Activity description                  Wholesale of watches and jewellery

Industry average payment

expectation days                      321.63

Industry average day sales

Outstanding                             498.57

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

 

Company result            339.48

Lower                           127.87

Median                         63.03

Upper                           19.14

 

DAY SALES OUTSTANDING

 

Company result            205.45

Lower                           118.53

Median                         55.66

Upper                           21.23

 

 

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

VIPIN  KUMAR  DUGAR

Position

Principal  Manager

Start  Date

06/09/2011

Date  of  birth

05/10/1952

Street

116 FRUITHOFLAAN  ANTWERPEN

Post  code

2600

Country

Belgium

Name

VINOD  KUMAR  JAIN

Position

Principal  Manager

Start  Date

25/10/2007

Street

116 FRUITHOFLAAN  ANTWERPEN

Post  code

2600

Country

Belgium

 

 

FORMER DIRECTOR DETAILS

 

---

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.96

UK Pound

1

Rs.99.93

Euro

1

Rs.70.16

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

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.