MIRA INFORM REPORT

 

 

Report No. :

335406

Report Date :

05.08.2015

 

IDENTIFICATION DETAILS

 

Name :

A.  N.  STAR  BVBA

 

 

Registered Office :

Schupstraat  1--  7  B, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

24.05.1995

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Other retail sale not in stores, stalls or markets.

 

 

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

455271973

Branche  Unit  Number

2071923067

Company  name

A.  N.  STAR  BVBA

Address

SCHUPSTRAAT  1--  7  B

 

2018 ANTWERPEN

Safe  number

BE00330984

Number  of  staff

0

Date  of  establishment

24/05/1995

Telephone  number

032266165

Fax  number

032320285

 

 

Commentary

 

The  business  was  established  over  19  years  ago. The  business  has  1  employees.

The  business  has  been  at  the  address  for  over  14  years. The  credit  rating  for  this  business  has  decreased  from  81  to  77. The  credit  limit  for  this  business  has  decreased  from  €285000  to  €255000. Operating  Result  in  the  latest  trading  period  decreased  86%  on  the  previous  trading  period. The  business  saw  a  decrease  in  their  Cash  Balance  of  74%  during  the  latest  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

-11,373

317,438

208,137

31/12/2012

 

-2,081

316,094

198,846

31/12/2011

7,131,183

-62,723

318,486

189,120

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

10,454,513

0

18,600

22,256

31/12/2012

10,844,133

0

18,600

27,753

31/12/2011

10,925,114

0

18,600

-22,572

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

89.30

Industry  average  day  sales

84.60

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

455271973

Company  name

A.  N.  STAR  BVBA

Fax  number

032320285

Date  founded

24/05/1995

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

47990

Liable  for  VAT

yes

Activity  description

Other  retail  sale  not  in

VAT  Number

BE.0455.271.973  Check  VAT

 

stores,  stalls  or  markets

 

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 category

Additional  national  joint  committee  for  the  employees

 

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

 

 

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

145,691

-13.41

168,248

-14.57

196,937

11.00

177,415

-24.67

235,517

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

144,191

-13.53

166,748

-14.68

195,437

11.10

175,915

-24.83

234,017

Land  &  building

98,576

-2.76

101,372

-2.68

104,169

-2.61

106,966

-2.55

109,762

Plant  &  machinery

21,100

-22.94

27,380

-20.47

34,429

-16.34

41,153

-12.07

46,803

Furniture  &  Vehicles

24,515

-35.48

37,996

-33.15

56,839

104

27,796

-64.11

77,452

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

1,500

0

1,500

0

1,500

0

1,500

0

1,500

Total  current  assets

10,308,822

-3.44

10,675,885

-0.49

10,728,177

10.39

9,718,313

25.23

7,760,646

Inventories

6,935,627

-2.11

7,085,010

-18.41

8,684,029

13.50

7,650,931

25.90

6,076,798

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-100

8,684,029

-

0

-

0

Other  stocks

6,935,627

-2.11

7,085,010

-

0

-100

7,650,931

25.90

6,076,798

Trade  debtors

3,304,114

-0.69

3,327,096

105

1,618,309

-7.59

1,751,317

16.18

1,507,424

Other  amounts  receivable

-

-

3,506

-48.72

6,837

137

2,877

-60.29

7,245

Cash

64,487

-74.51

253,023

-39.20

416,142

35.85

306,316

90.04

161,188

Miscellaneous  current  assets

4,595

-36.63

7,251

153

2,860

-58.37

6,871

-14.01

7,991

Total  Assets

10,454,513

-3.59

10,844,133

-0.74

10,925,114

10.40

9,895,728

23.76

7,996,163

 

 

Liabilities

 

Total  shareholders  equity

317,438

0.43

316,094

-0.75

318,486

-13.78

369,394

-10.26

411,639

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

298,838

0.45

297,494

-0.80

299,886

-14.51

350,794

-10.75

393,039

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

10,137,075

-3.71

10,528,039

-0.74

10,606,629

11.34

9,526,333

25.60

7,584,524

Other  long  term  loans

36,390

-28.65

51,000

-24.52

67,571

-20.78

85,294

-22.59

110,181

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

36,390

-28.65

51,000

-24.52

67,571

-20.78

85,294

-22.59

110,181

Current  portion  of  long  term  debt

14,610

-11.73

16,551

2.00

16,226

-34.80

24,886

-28.43

34,773

Financial  debts

32,720

-86.24

237,832

-41.32

405,280

91.45

211,694

13.23

186,959

Trade  creditors

9,458,411

-1.08

9,561,959

-2.83

9,840,267

12.72

8,729,564

28.27

6,805,377

Amounts  Payable  for  Taxes,

5,852

-39.75

9,714

399

1,946

-82.75

11,279

-1.96

11,504

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

589,093

-9.51

650,983

136

275,338

-40.61

463,615

6.40

435,730

Total  current  liabilities

10,100,685

-3.59

10,477,039

-0.59

10,539,058

11.63

9,441,039

26.31

7,474,343

Total  Liabilities

10,454,513

-3.59

10,844,133

-0.74

10,925,114

10.40

9,895,728

23.76

7,996,163

 

 

 

ratio  analysis

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-0.88

-

-

-

-

Return  on  capital  employed

-3.21

-463

-0.57

3.51

-16.25

-111

-7.68

-1522

0.54

Return  on  total  assets  employed

-0.11

-450

-0.02

3.51

-0.57

-62.86

-0.35

-1266

0.03

Return  on  net  assets  employed

-3.58

-442

-0.66

3.35

-19.69

-108

-9.46

-1491

0.68

Sales  /  net  working  capital

-

-

-

-

37.71

-

-

-

-

Stock  turnover  ratio

-

-

-

-

121.78

-

-

-

-

Creditor  days

-

-

-

-

502.18

-

-

-

-

Debtor  days

-

-

-

-

82.83

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.02

0

1.02

0

1.02

-0.97

1.03

-0.96

1.04

Liquidity  ratio  /  acid  ratio

0.33

-2.94

0.34

78.95

0.19

-13.64

0.22

-4.35

0.23

Current  debt  ratio

31.82

-4.01

33.15

0.18

33.09

29.46

25.56

40.75

18.16

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

22,256

-19.81

27,753

122

-22,572

-58.32

-14,257

-157

24,826

Net  worth

317,438

0.43

316,094

-0.75

318,486

-13.78

369,394

-10.26

411,639

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

26.37

-72.70

96.61

-37.09

153.56

76.22

87.14

8.07

80.63

Equity  in  percentage

3.04

4.47

2.91

-0.34

2.92

-21.72

3.73

-27.57

5.15

Total  debt  ratio

31.93

-4.14

33.31

0.03

33.30

29.12

25.79

39.93

18.43

Working  capital

208,137

4.67

198,846

5.14

189,120

-31.79

277,274

-3.15

286,303

 

 

Profit  &  loss

 

Operating  Income

-

-

-

-

7,132,780

-

-

-

-

Turnover

-

-

-

-

7,131,183

-

-

-

-

Total  operating  expenses

-

-

-

-

7,152,227

-

-

-

-

Gross  Operating  Margin

59,952

-38.06

96,796

-

-

-

89,226

2.48

87,067

Operating  Charges

-

-

-

-

7,153,824

-

-

-

-

Employee  costs

22,885

-9.07

25,167

18.05

21,319

9.51

19,467

3.96

18,725

Wages  and  salary

17,740

-11.13

19,962

20.41

16,578

3.60

16,002

3.08

15,524

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

3,625

0.99

3,590

3.79

3,459

47.83

2,340

-4.16

2,441

Other  employee  costs

1,519

-5.95

1,616

26.02

1,282

13.89

1,126

48.11

760

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

20,913

-30.63

30,144

6.38

28,337

1.25

27,988

-11.91

31,770

Operating  result

5,186

-86.61

38,723

184

-21,044

-482

-3,611

-110

33,469

Total  financial  income

531

50.83

352

7443

5

-99

666

372

141

Total  financial  expenses

17,091

-58.47

41,157

-1.26

41,684

30.34

31,981

3.79

30,814

Results  on  ordinary  operations  before  taxation

-11,373

-446

-2,081

3.32

-62,723

-79.58

-34,927

-1349

2,796

Extraordinary  Income

12,993

-

-

-

11,902

-

-

-

1,703

Extraordinary  Charges

-

-

-

-

-

-

7,251

-

-

Extraordinary  items

12,993

-

0

-100

11,902

164

-7,251

-525

1,703

Results  for  the  Year  Before  Taxation

1,620

77.86

-2,081

4.09

-50,821

-20.49

-42,178

-1037

4,499

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

277

-10.91

310

254

88

31.24

67

-99

11,443

Results  on  ordinary  operations  after  taxation

-11,650

-387

-2,391

3.81

-62,810

-79.49

-34,993

-304

-8,647

Net  result

1,344

56.19

-2,391

4.70

-50,909

-20.51

-42,245

-508

-6,944

Profit  (Loss)  for  the  Year  to  be  appropiated

1,344

56.19

-2,391

4.70

-50,909

-20.51

-42,245

-508

-6,944

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

0

 

 

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

1,071

Total

1,071

 

 

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

22,885

Total

22,885

Benefits  In  Addition  To  Wages

-

 

 

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

0

Actual  working  hours

1,079

Personnel  Charges

25,167

Benefits  In  Addition  To  Wages

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

1

0

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

0

Higher  education  (non

university)

-

-

-

Higher  education (university)

-

-

-

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

-

1

0

Blue  collar  worker

-

-

-

Other

-

-

-

 

Temporary  personnel

 

Total

 

Average  number  of  temporary  staf

f

-

 

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

47990

 

Activity  description

Other  retail  sale  not  in  stores,  stalls  or  markets

 

industry  average  credit rating

79.20

 

Industry  average  credit  limit

2559.14

 

 

 

Payment  Information

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

Amount

-

Details

-

 

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

-

Day  sales  outstanding

-

 

 

INDUSTRY  COMPARISON

 

Activity  code

47990

Activity  description

Other  retail  sale  not  in  stores,  stalls  or  markets

Industry  average  payment

expectation  days

89.30

Industry  average  day  sales

outstanding

84.60

 

 

INDUSTRY  QUARTILE  ANALYSIS PAYMENT  EXPECTATIONS

 

Company  result

-

Lower

91.56

Median

35.25

Upper

8.98

 

Day  sales  outstanding

 

 

Company  result

-

Lower

88.17

Median

38.68

Upper

14.27

 

Shareholder  Details

 

 

 

 

Summary

 

 

 

Group  -  Number  of  Companies

0

 

 

Linkages  -  Number  of  Companies

0

 

 

Number  of  Countries

0

 

 

 

 

Individual  Shareholders

 

SHAREHOLDER  NAME

 

Forename

Rajen

Middle  name

-

Surname

Parikh

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

24/05/1995

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Beukenlaan

House  number

26

Minor  town

-

Postal  town

Antwerpen

Post  code

2020

Country

Belgium

SHAREHOLDER  NAME

 

 

 

Forename

Nilesh

Middle  name

-

Surname

Jogani

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

24/05/1995

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Groenenborgerlaan

House  number

117

Minor  town

Wilrijk

Postal  town

Antwerpen

Post  code

2610

Country

Belgium

 

 

Linked  Companies

 

SUMMARY

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

Director  details

 

CURRENT  DIRECTOR  DETAILS

 

Name

DILIP  RAMNIKLAL  THAKKER

 

 

Position

Principal  Manager

Start  Date

23/09/1999

Street

6 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Name

NILESH  DHIRAJLAL  JOGANI

Position

Principal  Manager

Start  Date

18/10/2011

Street

117 GROENENBORGERLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Former  director  details

 

Name

NILESH  DHIRAJLAL  JOGANI

Position

Director

Start  Date

08/12/1997

End  Date

Unknown  date

Street

117 GROENENBORGERLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.91

UK Pound

1

Rs.99.82

Euro

1

Rs.70.05

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.