MIRA INFORM REPORT

 

 

Report No. :

335568

Report Date :

08.08.2015

 

IDENTIFICATION DETAILS

 

Name :

DE LENS FASHION NV

 

 

Registered Office :

Sint-Jobstraat 262 9300 Aalst

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

18.02.1992

 

 

Com. Reg. No.:

446659462

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

Line of Business :

Wholesale of household textiles and bedding

 

 

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 :

Small Company

 

 

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

446659462

Branche Unit Number

2057395140

Company name

DE LENS FASHION NV

Address

SINT-JOBSTRAAT 262

 

9300 AALST

Number of staff

1

Date of establishment

18/02/1992

Telephone number

053780505

Fax number

053770433

 

 

Ultimate holding company

 

Company name

Company Number

--

--

 

 

Commentary

 

The business was established over 23 years ago.

The business has 1 employees.

The business has been at the address for over 12 years.

Operating Result in the latest trading period decreased 29% on the previous trading period.

A 26% growth in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 117% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 63% during the latest trading period.

Working Capital is a negative amount during the latest trading period.

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

TURNOVER

PROFIT BEFORE TAX

NET WORTH

WORKING CAPITAL

30/06/2014

 

-1,121

102,079

-11,024

30/06/2013

 

6,549

97,548

38,613

30/06/2012

 

19,645

90,754

28,602

 

Accounts

 

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF EMPLOYEES

CAPITAL

CASHFLOW

30/06/2014

851,329

1

61,973

73,581

30/06/2013

674,149

1

61,973

48,147

30/06/2012

702,290

1

61,973

65,654

Payment expectations

 

Past payments

 

Payment expectation days

-

Industry average payment expectation days

89.09

Industry average day sales outstanding

97.91

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

446659462

Company name

DE LENS FASHION NV

Fax number

053770433

Date founded

18/02/1992

Company status

active

Company type

Public Limited Liability Company (BE)

 

 

Date of latest accounts

30/06/2014

Currency

Euro (€)

 

 

Activity code

46412

Liable for VAT

yes

Activity description

Wholesale of household

VAT Number

 BE.0446.659.462 Check VAT

 

textiles and bedding

 

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)

 

JIC Code

218

Description category

Additional national joint committee for the employees

 

 

Joint  Industrial  Committee  (JIC)

 

Event Date

03/12/2010

Event Description

re-appointment of director(s)

Event Details

Commentaar 03-12-2010: Herbenoeming als bestuurders voor een periode van 6 jaar: Steppe Mireille (tevens gedelegeerd bestuurder) en De Wolf Laurent

 

 

Company  accounts

 

Annual accounts

30-06-2014

%

30-06-2013

%

30-06-2012

%

30-06-2011

%

30-06-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

 

 

 

 

 

 

 

 

 

 

Total fixed assets

451,672

51.59

297,965

-11.60

337,064

-6.26

359,590

1.58

353,986

 

 

 

 

 

 

 

 

 

 

Intangible fixed assets

0

-

0

-

0

-

0

-

0

Tangible fixed assets

451,147

51.68

297,440

-11.62

336,539

-6.27

359,065

1.59

353,461

Land & building

339,459

30.06

261,010

-8.58

285,511

-8.23

311,125

-7.50

336,358

Plant & machinery

711

-41.86

1,223

47.53

829

-40.06

1,383

-28.56

1,936

Furniture & Vehicles

9,892

-33.74

14,929

-31.90

21,922

-30.80

31,681

2654

1,150

Leasing & Other Similar Rights

12,279

-39.45

20,278

-28.29

28,277

90.08

14,876

6.13

14,017

Other tangible assets

88,806

-

0

-

0

-

0

-

0

Financial fixed assets

525

0

525

0

525

0

525

0

525

Total current assets

399,657

6.24

376,184

3.00

365,226

-9.43

403,264

14.95

350,804

Inventories

35,617

50.68

23,638

-6.45

25,269

-65.63

73,520

174

26,800

Raw materials & consumables

-

-

-

-

-

-

-

-

-

Work in progress

0

-

0

-

0

-

0

-

0

Finished goods

0

-

0

-

0

-

0

-

0

Other stocks

35,617

50.68

23,638

-6.45

25,269

-65.63

73,520

174

26,800

Trade debtors

39,794

-81.25

212,269

12.43

188,808

1.02

186,894

-6.05

198,930

Other amounts receivable

116,127

1452

7,480

-0.13

7,490

271

2,014

-71.84

7,153

 

 

 

 

 

 

 

 

 

 

Cash

6,824

-63.02

18,451

-39.17

30,331

4066

728

-54.50

1,600

Miscellaneous current assets

201,295

76.04

114,346

0.90

113,328

-19.11

140,108

20.45

116,321

Total Assets

851,329

26.28

674,149

-4.01

702,290

-7.94

762,854

8.24

704,790

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Total shareholders equity

102,079

4.64

97,548

7.49

90,754

17.31

77,364

9.75

70,488

Issued share capital

61,973

0

61,973

0

61,973

0

61,973

0

61,973

Share premium account                                 

-

-

-

-

-

-

-

-

-

Revaluation reserve                                       

-

-

-

-

-

-

-

-

-

Reserves

40,106

12.74

35,575

23.61

28,781

87.00

15,391

80.75

8,515

Provisions for Liabilities & Charges

0

-

0

-

0

-

0

-

0

Deffered taxes

-

-

-

-

-

-

-

-

 

Creditors

749,250

29.94

576,601

-5.71

611,536

-10.79

685,490

8.07

634,302

Other long term loans

338,569

41.64

239,030

-13.05

274,912

-4.84

288,891

6.65

270,867

Long term group loans

-

-

-

-

-

-

-

-

-

Other long term liabilities

0

-

0

-

0

-

0

-

0

Total long term debts

338,569

41.64

239,030

-13.05

274,912

-4.84

288,891

6.65

270,867

 

 

 

 

 

 

 

 

 

 

Current portion of long term debt

44,046

24.61

35,348

12.76

31,349

23.47

25,391

-10.25

28,290

Financial debts

22,635

-

-

-

22,191

-30.39

31,880

88.51

16,912

Trade creditors

49,387

86.49

26,482

-52.68

55,963

-28.29

78,042

-12.92

89,617

Amounts Payable for Taxes, Remuneration &

62,825

10.69

56,758

50.82

37,632

27.48

29,520

2.74

28,733

Miscellaneous current liabilities

231,788

5.85

218,983

15.57

189,489

-18.24

231,766

15.95

199,883

Total current liabilities

410,681

21.66

337,571

0.28

336,624

-15.12

396,599

9.13

363,435

Total Liabilities

851,329

26.28

674,149

-4.01

702,290

-7.94

762,854

8.24

704,790

ratio analysis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TRADING PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

-

-

-

-

Return on capital employed

-0.25

-112

1.95

-63.69

5.37

231

1.62

268

0.44

Return on total assets employed

-0.13

-113

0.97

-65.36

2.80

258

0.78

271

0.21

Return on net assets employed

-1.10

-116

6.71

-69.01

21.65

181

7.69

262

2.12

Sales / net working capital

-

-

-

-

-

-

-

-

-

Stock turnover ratio

-

-

-

-

-

-

-

-

-

Creditor days

-

-

-

-

-

-

-

-

-

Debtor days

-

-

-

-

-

-

-

-

-

SHORT TERM STABILITY

 

 

 

 

 

 

 

 

 

Current ratio

0.97

-12.61

1.11

2.78

1.08

5.88

1.02

5.15

0.97

Liquidity ratio / acid ratio

0.89

-14.42

1.04

2.97

1.01

21.69

0.83

-6.74

0.89

Current debt ratio

4.02

16.18

3.46

-6.74

3.71

-27.68

5.13

-0.58

5.16

Liquidity ratio reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

73,581

52.83

48,147

-26.67

65,654

30.59

50,274

3.08

48,771

Net worth

102,079

4.64

97,548

7.49

90,754

17.31

77,364

9.75

70,488

LONG TERM STABILITY

 

 

 

 

 

 

 

 

 

Gearing

397.00

41.15

281.27

-22.28

361.91

-19.12

447.45

-0.21

448.40

Equity in percentage

11.99

-17.14

14.47

12.00

12.92

27.42

10.14

1.40

10.00

Total debt ratio

7.34

24.20

5.91

-12.31

6.74

-23.93

8.86

-1.56

9.00

Working capital

-11,024

-128

38,613

35.00

28,602

329

6,665

52.77

-12,631

Operating Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total operating expenses

-

-

-

-

-

-

-

-

-

Gross Operating Margin

176,344

31.57

134,034

-13.47

154,901

12.58

137,593

-19.53

170,980

Operating Charges                                   

-

-

-

-

-

-

-

-

-

Employee costs

86,855

36.13

63,803

9.12

58,470

-19.46

72,594

-23.70

95,146

Wages and salary

69,201

34.54

51,435

8.13

47,568

-18.49

58,359

-24.10

76,886

Employee pension costs

-

-

-

-

-

-

-

-

-

Social security contributions

16,970

49.28

11,368

13.99

9,973

-21.62

12,724

-24.76

16,912

Other employee costs

684

-31.60

1,000

7.64

929

-38.52

1,511

12.09

1,348

Director remuneration                                

-

-

-

-

-

-

-

-

-

Amortization and depreciation

69,050

66.98

41,353

-17.73

50,264

15.82

43,398

-12.06

49,347

Operating result

20,439

-29.22

28,878

-37.45

46,167

41.11

32,718

23.52

26,487

Total financial income

3

-98.05

154

352

34

277

9

-55.00

20

Total financial expenses

21,563

-4.09

22,483

-15.34

26,556

-0.84

26,781

7.07

25,012

Results on ordinary operations before taxation

-1,121

-117

6,549

-66.66

19,645

230

5,946

297

1,495

Extraordinary Income

11,618

53.68

7,560

128

3,306

-53.98

7,184

-

-

Extraordinary Charges                               

-

-

-

-

-

-

-

-

-

Extraordinary items

11,618

53.68

7,560

128

3,306

-53.98

7,184

-

0

Results for the Year Before Taxation

10,497

-25.60

14,109

-38.53

22,951

74.80

13,130

778

1,495

Other appropriations

-

-

-

-

-

-

-

-

-

Taxation

5,966

-18.44

7,315

-3.25

7,561

20.90

6,254

201

2,071

Results on ordinary operations after taxation

-7,087

-825

-766

-106

12,084

3923

-308

53.47

-576

Net result

4,531

-33.31

6,794

-55.85

15,390

123

6,876

1193

-576

Profit (Loss) for the Year to be appropiated

4,531

-33.31

6,794

-55.85

15,390

123

6,876

1193

-576

 

 

Social BALANCE SHEET DETAILS

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2013

 

 

 

Full-time  Employees

 

1

 

Part-time  Employees

 

-

 

Total  Fte  Employees

 

1

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

1,725

 

Part-time  Employees

 

-

 

Total

 

1,725

 

Personnel  Charges

 

 

 

Full-time  Employees

 

86,856

 

Part-time  Employees

 

-

 

Total

 

86,856

 

Benefits  In  Addition  To  Wages

 

-

 

 

 

 

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

1

 

Actual  working  hours

 

1,762

 

Personnel  Charges

 

63,803

 

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

1

-

1

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

1

-

1

Blue  collar  worker

-

-

-

Other

-

-

-

Temporary  personnel

 

Total

 

Average  number  of  temporary  staff

 

-

 

Actual  working  hours

 

-

 

Cost  of  temporary  staff

 

-

 

 

 

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

46412

Activity  description

Wholesale of household textiles and bedding

Payment Information

 

Payment Information Summary

Total number of Invoices available                                                                                                         40

Total number of Invoices paid within or up to 30 days after the due date                                                  35

Total number of Invoices paid more than 30 days after the due date                                                        5

Total number of Invoices currently outstanding where the due date has not yet been reached                    0

Total number of Invoices currently outstanding beyond the due date                                                        0

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

Details

-

 

 

Payment  expectations

 

Payment  expectation  days

-

Day  sales  outstanding

-

 

 

Industry  comparison

 

Activity  code

46412

Activity  description

Wholesale of household textiles and bedding

industry  average  credit rating

89.09

Industry  average  credit  limit

97.91

 

 

Industry  Quartile  Analysis

 

Payment  expectations

 

Company  result

-

Lower

88.08

Median

49.01

Upper

19.25

 

Day  sales  outstanding

 

Company  result

 

Lower

95.35

Median

42.54

Upper

17.96

 

 

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

 

Business number

Company name

%

Date of accounts

466242574

 New Seasons BVBA

2

30/09/2014

 

 

Individual  Shareholders

 

SHAREHOLDER  NAME

 

Forename

Laurent

Middle name

Antoine

Surname

De Wolf

 

 

 

 

 

 

SHAREHOLDER DETAILS

 

 

 

 

 

 

 

Start date

28/07/1998(estimated)

End date

-

Percentage owned

-

 

 

 

 

 

 

SHAREHOLDER ADDRESS

 

 

 

 

 

 

 

Street name

Ninovesteenweg

House number

91

Minor town

Erembodegem

Postal town

Aalst

Post code

9320

Country

Belgium

 

 

 

 

SHAREHOLDER NAME

 

 

 

 

 

 

 

Forename

Mireille

Middle name

-

Surname

Steppe

 

 

 

 

 

 

SHAREHOLDER DETAILS

 

 

 

 

 

 

 

Start date

28/07/1998(estimated)

End date

-

Percentage owned

-

 

 

 

 

 

 

SHAREHOLDER ADDRESS

 

 

 

 

 

 

 

Street name

Karel Van de Woestijnestraat

House number

16

Minor town

-

Postal town

Aalst

Post code

9300

Country

Belgium

 

 

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

 MIREILLE STEPPE

Position

Chairman of the Board

Start Date

18/06/1998

Street

12 DAALSTRAAT ERPE-MERE

Post code

9420

Country

Belgium

 

 

Position

Managing Director

Start Date

03/12/2010

Street

12 DAALSTRAAT ERPE-MERE

Post code

9420

Country

Belgium

 

 

Position

Director

Start Date

18/06/1998

Street

12 DAALSTRAAT ERPE-MERE

Post code

9420

Country

Belgium

 

 

Name

 NEW SEASONS BVBA

Position

Director

Start Date

03/12/2010

End Date

03/12/2016

Date of birth

11/06/1999

Street

262 SINT-JOBSTRAAT AALST

Post code

9300

Country

Belgium

 

 

Position

Legal Representative

Start Date

03/12/2010

Date of birth

11/06/1999

Street

262 SINT-JOBSTRAAT AALST

Post code

9300

Country

Belgium

 

 

Name

 LAURENT MONICA ANTOINE DE WOLF

Position

Director

Start Date

03/12/2010

Date of birth

15/02/1977

Street

91 NINOVESTEENWEG AALST

Post code

9320

Country

Belgium

 

Former  director  details

 

Name

 ZODIAC BVBA

Position

Director

Start Date

19/02/2010

End Date

30/06/2011

Date of birth

29/12/1992

Street

262 SINT-JOBSTRAAT AALST

Post code

9300

Country

Belgium

 

 

Name

 LOMARO BVBA

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.63.81

UK Pound

1

Rs.98.93

Euro

1

Rs.69.66

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

VNT

 

               

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.