MIRA INFORM REPORT

 

 

Report No. :

335867

Report Date :

06.08.2015

 

IDENTIFICATION DETAILS

 

Name :

MIRANEL BVBA

 

 

Registered Office :

Pelikaanstraat 62, 2018 Antwerp

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

28.09.2004

 

 

Com. Reg. No.:

867826138

 

 

Legal Form :

Private  Limited  Company

 

 

LINE OF BUSINESS :

PREPARATION OF DIAMONDS.

 

 

No. of Employees :

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

867826138

Company  name

MIRANEL  BVBA

Address

PELIKAANSTRAAT  62

 

2018 ANTWERP

Number  of  staff

1

Date  of  establishment

28/09/2004

Telephone  number

032334465

Fax  number

--

 

 

Commentary

 

The business  was  established  over  10  years  ago.

The  business  has  1  employees.

The business  has  been  at  the  address  for  over  10  years.

The business  saw  a  decrease  in  their  Cash  Balance  of  75%  during  the  latest  trading  period.

 

 

Accounts

 

DATE  OF  LATEST 

ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

1,535

59,933

58,782

31/12/2012

 

1,436

58,426

56,892

31/12/2011

 

5,120

56,990

54,940

Accounts

 

 

 

 

DATE  OF  LATEST 

ACCOUNTS

BALANCE  TOTAL

NUMBER  OF 

EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

413,346

0

18,600

1,890

31/12/2012

414,270

0

18,600

1,952

31/12/2011

422,007

0

18,600

759

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

109.34

Industry  average  day  sales

114.16

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

867826138

Company  name

MIRANEL  BVBA

Fax  number

 

Date  founded

28/09/2004

Company  status

active

Company  type

Private  Limited  Company (BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

32121

Liable  for  VAT

yes

Activity  description

Preparation  of  diamonds

VAT  Number

BE.0867.826.138  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 category

Additional  national  joint  committee  for  the  employees

 

 

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

1,151

-24.97

1,534

-25.17

2,050

-20.11

2,566

39.08

1,845

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

184

-67.55

567

-47.65

1,083

-32.27

1,599

82.12

878

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

78

-63.38

213

-55.81

482

-35.82

751

12.93

665

Furniture  &  Vehicles

106

-70.06

354

-41.10

601

-29.13

848

298

213

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

967

0

967

0

967

0

967

0

967

Total  current  assets

412,195

-0.13

412,736

-1.72

419,957

2.69

408,949

-8.60

447,418

Inventories

300,528

25.77

238,944

-0.55

240,268

-15.19

283,291

-4.90

297,881

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

300,528

25.77

238,944

-0.55

240,268

-15.19

283,291

-4.90

297,881

Trade  debtors

92,310

-9.05

101,499

-0.48

101,992

-4.51

106,806

8.63

98,324

Other  amounts  receivable

2,254

18.13

1,908

-19.05

2,357

33.24

1,769

65.33

1,070

Cash

17,103

-75.70

70,385

-6.58

75,340

341

17,083

-65.93

50,143

Miscellaneous  current  assets

0

-

0

-

0

-

0

-

0

Total  Assets

413,346

-0.22

414,270

-1.83

422,007

2.55

411,515

-8.40

449,263

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

59,933

2.58

58,426

2.52

56,990

0.43

56,747

3.38

54,891

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

41,333

3.78

39,826

3.74

38,390

0.64

38,147

5.11

36,291

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

353,413

-0.68

355,844

-2.51

365,017

2.89

354,768

-10.04

394,372

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

432

-99

350,883

-2.58

360,191

2.55

351,218

-9.96

390,068

Amounts  Payable  for  Taxes,  Remuneration  & Social  Security

3,505

-25.44

4,701

2.96

4,566

38.78

3,290

-18.64

4,044

Miscellaneous  current  liabilities

349,476

134313

260

0

260

0

260

0

260

Total  current  liabilities

353,413

-0.68

355,844

-2.51

365,017

2.89

354,768

-10.04

394,372

Total  Liabilities

413,346

-0.22

414,270

-1.83

422,007

2.55

411,515

-8.40

449,263

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

2.56

4.07

2.46

-72.61

8.98

17.39

7.65

-69.94

25.45

Return  on  total  assets  employed

0.37

5.71

0.35

-71.07

1.21

14.15

1.06

-65.92

3.11

Return  on  net  assets  employed

2.56

4.07

2.46

-72.61

8.98

17.39

7.65

-69.94

25.45

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.17

0.86

1.16

0.87

1.15

0

1.15

1.77

1.13

Liquidity  ratio  /  acid  ratio

0.32

-34.69

0.49

0

0.49

40.0

0.35

-7.89

0.38

Current  debt  ratio

5.90

-3.12

6.09

-4.84

6.40

2.40

6.25

-12.95

7.18

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

1,890

-3.18

1,952

157

759

-68.45

2,406

-69.01

7,763

Net  worth

59,933

2.58

58,426

2.52

56,990

0.43

56,747

3.38

54,891

LONG TERM STABILITY

 

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

-

 

-

-

-

Equity  in  percentage

14.50

2.84

14.10

4.44

13.50

-2.10

13.79

12.85

12.22

Total  debt  ratio

5.90

-3.12

6.09

-4.84

6.40

2.40

6.25

-12.95

7.18

Working  capital

58,782

3.32

56,892

3.55

54,940

1.40

54,181

2.14

53,046

 

 

PROFIT & LOSS

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

22,131

75.95

12,578

-37.07

19,986

-35.17

30,828

49.11

20,674

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

12,568

3.90

12,096

6.80

11,326

0.98

11,216

-3.64

11,640

Wages  and  salary

10,183

5.40

9,661

6.27

9,091

-0.44

9,131

-3.84

9,496

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

2,222

-2.50

2,279

9.51

2,081

7.55

1,935

-2.96

1,994

Other  employee  costs

163

4.49

156

1.30

154

2.67

150

0

150

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

383

-25.78

516

0

516

-6.18

550

-28.01

764

Operating  result

8,542

1170

-730

-110

7,252

-60.95

18,572

144

7,583

Total  financial  income

10,868

-20.17

13,614

132

5,843

101

2,895

-84.19

18,308

Total  financial  expenses

17,875

56.14

11,448

43.55

7,975

-53.43

17,124

43.63

11,922

Results  on  ordinary  operations  before  taxation

1,535

6.89

1,436

-71.95

5,120

17.89

4,343

-68.91

13,969

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

1,535

6.89

1,436

-71.95

5,120

17.89

4,343

-68.91

13,969

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

28

-

-

-

4,877

96.10

2,487

-64.32

6,970

Results  on  ordinary  operations  after  taxation

1,507

4.94

1,436

490

243

-86.91

1,856

-73.48

6,999

Net  result

1,507

4.94

1,436

490

243

-86.91

1,856

-73.48

6,999

Profit  (Loss)  for  the  Year  to  be  appropiated

1,507

4.94

1,436

490

243

-86.91

1,856

-73.48

6,999

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

 

598

 

Total

 

598

 

 

 

 

 

Personnel  Charges

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

12,568

 

Total

 

12,568

 

Benefits  In  Addition  To  Wages

 

-

 

 

 

 

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

0

 

Actual  working  hours

 

567

 

Personnel  Charges

 

12,096

 

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  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

32121

Activity  description

Preparation  of  diamonds

industry  average  credit rating

78.30

Industry  average  credit  limit

9475.63

 

 

Payment Information

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

Details

-

Payment  expectations

 

Payment  expectation  days

-

Day  sales  outstanding

-

Industry  comparison

 

Activity  code

32121

Activity  description

Preparation  of  diamonds

Industry  average  payment expectation  days

109.34

Industry  average  day  sales outstanding

114.16

 

 

INDUSTRY QUARTILE ANALYSIS

 

Payment expectations

 

Company  result

-

Lower

131.45

Median

74.39

Upper

33.79

 

 

Day  sales  outstanding

 

Company  result

-

Lower

100.92

Median

60.61

Upper

20.28

 

 

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

 

 

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

JOSEPH  WOLKOWICZ

Position

Principal  Manager

Start  Date

03/09/2010

Street

163 MECHELSESTEENWEG  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Name

WOLF  RAOUL  WOLKOWICZ

Position

Principal  Manager

Start  Date

03/09/2010

Street

10 REKOV  HATOZ

Post  code

42753

Country

Israël

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.82

UK Pound

1

Rs.99.15

Euro

1

Rs.69.31

 

 

 

 

 

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.