MIRA INFORM REPORT

 

 

Report No. :

336332

Report Date :

10.08.2015

 

IDENTIFICATION DETAILS

 

Name :

TRAU BROS NV

 

 

Registered Office :

Hoveniersstraat 53-Bus 31 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

06.10.1992

 

 

Com. Reg. No.:

448349341

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

Line of Business :

Wholesale of watches and jewellery.

 

 

No. of Employee :

6

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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                     448349341

Branche Unit Number               2059233685

Company name                        TRAU BROS NV

Address                                   HOVENIERSSTRAAT 53-BUS 31

2018 ANTWERPEN

Number of staff                        6

Date of establishment               06/10/1992

Telephone number                   032313049

Fax number                              032335766

 

 

Commentary

 

The business was established over 22 years ago.

The business has 8 employees.

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

Pre-tax profits increased by 61% compared to the previous trading period.

The business saw an increase in their Cash Balance of 84% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

134,059,241

373,495

15,474,712

11,049,194

31/12/2012

137,024,911

231,766

15,807,038

11,339,544

31/12/2011

154,171,568

434,823

15,883,531

11,358,319

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

62,857,425

6

9,788,850

393,800

31/12/2012

72,732,465

6

10,231,650

277,885

31/12/2011

59,421,140

5

10,434,150

490,121

 

 

Trends

 

Profitability

Liquidity

Net worth

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

5.92

Industry  average  payment

325.03

Industry  average  day  sales

503.07

expectation  days

 

outstanding

 

Day  sales  outstanding

110.97

 

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                --

 

NSSO DETAILS

Date of summons                     --

 

 

Company information

 

Business  number

448349341

Company  name

TRAU  BROS  NV

Fax  number

032335766

Date  founded

06/10/1992

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46480

Liable  for  VAT

yes

Activity  description

Wholesale  of  watches  and jewellery

VAT  Number

BE.0448.349.341  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

 

 

SIGNIFICANT EVENTS

 

Event  Date

21/12/2011

Event  Description

 

Event  Details

De  buitengewone  algemene  vergadering  heet  besloten  om  alle  bestaande  aandelen  aan  toonder,  om te  zetten  in  aandelen  op  naam  of  in  gedematerialiseerde  aandelen.

 

 

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

11,638,803

-4.12

12,138,880

40.68

8,628,919

6.70

8,086,962

12.50

7,188,336

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

914,366

-7.42

987,702

-6.32

1,054,283

3.87

1,014,988

-5.40

1,072,980

Land  &  building

885,632

-5.14

933,622

-3.09

963,437

1.89

945,520

-2.03

965,155

Plant  &  machinery

27,524

-13.45

31,802

-30.81

45,962

228

14,000

-55.32

31,332

Furniture  &  Vehicles

1,210

-94.57

22,278

-50.37

44,884

-19.08

55,467

-27.49

76,493

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-100

1

-

0

Financial  fixed  assets

10,724,436

-3.83

11,151,177

47.22

7,574,636

7.11

7,071,974

15.64

6,115,356

Total  current  assets

51,218,622

-15.47

60,593,585

19.30

50,792,221

9.12

46,547,639

5.84

43,977,497

Inventories

7,627,613

-47.25

14,460,459

-2.75

14,868,899

2.39

14,521,149

-14.93

17,070,006

Raw  materials  &  consumables

1,866,072

-26.87

2,551,667

-4.94

2,684,381

6.57

2,519,002

-43.44

4,453,964

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

5,761,541

-51.62

11,908,792

-2.26

12,184,517

1.52

12,002,147

-4.87

12,616,042

Other  stocks

0

-

0

-100

1

-

0

-

0

Trade  debtors

40,756,063

-7.20

43,919,216

31.57

33,380,393

6.40

31,371,578

24.35

25,229,343

Other  amounts  receivable

5,976

-17.31

7,227

-36.52

11,384

7.02

10,637

-49.66

21,131

Cash

870,343

84.97

470,537

-66.16

1,390,602

123

621,821

-62.03

1,637,775

Miscellaneous  current  assets

1,958,627

12.81

1,736,147

52.17

1,140,943

4981

22,454

16.69

19,242

Total  Assets

62,857,425

-13.58

72,732,465

22.40

59,421,140

8.76

54,634,601

6.78

51,165,833

 

 

LIABILITIES

 

Total  shareholders  equity

15,474,712

-2.10

15,807,038

-0.48

15,883,531

6.18

14,959,002

1.94

14,674,681

Issued  share  capital

9,788,850

-4.33

10,231,650

-1.94

10,434,150

3.27

10,103,400

1.03

10,000,000

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

2,903,924

-4.33

3,035,283

-1.94

3,095,356

3.27

2,997,237

-0.61

3,015,708

Reserves

2,781,938

9.52

2,540,105

7.90

2,354,025

26.67

1,858,365

12.02

1,658,973

Provisions  for  Liabilities  &

0

-

0

-

0

-

0

-

0

Charges

 

 

 

 

 

 

 

 

 

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

47,382,712

-16.76

56,925,427

30.75

43,537,609

9.73

39,675,599

8.73

36,491,152

Other  long  term  loans

687,384

-19.16

850,286

-15.99

1,012,107

-14.29

1,180,843

75.40

673,224

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

6,525,901

-4.33

6,821,100

120

3,091,600

3.27

2,993,600

7.81

2,776,621

Total  long  term  debts

7,213,285

-5.97

7,671,386

86.94

4,103,707

-1.69

4,174,443

21.00

3,449,845

Current  portion  of  long  term  debt

159,708

-4.52

167,260

3.98

160,862

-7.62

174,134

111

82,244

Financial  debts

37,385,908

3.62

36,080,827

15.47

31,247,199

44.77

21,583,301

3.44

20,865,570

Trade  creditors

2,144,777

-83.00

12,618,647

63.58

7,714,166

-43.00

13,534,346

14.04

11,867,809

Amounts  Payable  for  Taxes,

78,367

29.91

60,323

52.59

39,534

84.63

21,412

-21.76

27,367

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

400,668

22.53

326,984

20.15

272,141

44.78

187,963

-5.22

198,317

Total  current  liabilities

40,169,428

-18.44

49,254,041

24.90

39,433,902

11.08

35,501,156

7.44

33,041,307

Total  Liabilities

62,857,425

-13.58

72,732,465

22.40

59,421,140

8.76

54,634,601

6.78

51,165,833

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

0.28

64.71

0.17

-39.29

0.28

-17.65

0.34

-46.03

0.63

Return  on  capital  employed

1.65

66.67

0.99

-54.59

2.18

11.22

1.96

18.79

1.65

Return  on  total  assets  employed

0.59

84.38

0.32

-56.16

0.73

7.35

0.68

17.24

0.58

Return  on  net  assets  employed

2.41

63.95

1.47

-46.35

2.74

9.60

2.50

22.55

2.04

Sales  /  net  working  capital

12.13

0.41

12.08

-10.98

13.57

35.43

10.02

130

4.34

Stock  turnover  ratio

5.69

-46.07

10.55

9.44

9.64

-26.52

13.12

-63.53

35.97

Creditor  days

5.92

-82.61

34.04

84.30

18.47

-59.14

45.20

-51.48

93.15

Debtor  days

110.97

-5.15

116.99

48.03

79.03

-23.61

103.45

-46.68

194.02

 

 

SHORT  TERM  STABILITY

 

Current  ratio

1.28

4.07

1.23

-4.65

1.29

-1.53

1.31

-1.50

1.33

Liquidity  ratio  /  acid  ratio

1.09

15.96

0.94

3.30

0.91

1.11

0.90

11.11

0.81

Current  debt  ratio

2.60

-16.67

3.12

25.81

2.48

4.64

2.37

5.33

2.25

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

393,800

41.71

277,885

-43.30

490,121

14.30

428,815

18.45

362,019

Net  worth

15,474,712

-2.10

15,807,038

-0.48

15,883,531

6.18

14,959,002

1.94

14,674,681

 

LONG  TERM  STABILITY

 

Gearing

247.07

5.27

234.70

14.99

204.11

33.11

153.34

4.07

147.34

Equity  in  percentage

24.62

13.30

21.73

-18.71

26.73

-2.37

27.38

-4.53

28.68

Total  debt  ratio

3.06

-15.00

3.60

31.39

2.74

3.40

2.65

6.43

2.49

Working  capital

11,049,194

-2.56

11,339,544

-0.17

11,358,319

2.82

11,046,483

1.01

10,936,190

 

 

PROFIT & LOSS

 

Operating  Income

134,191,838

-2.07

137,026,735

-11.12

154,173,515

39.28

110,693,823

133

47,464,491

Turnover

134,059,241

-2.16

137,024,911

-11.12

154,171,568

39.28

110,692,117

133

47,461,634

Total  operating  expenses

132,165,364

-2.32

135,311,070

-11.22

152,411,036

39.46

109,286,058

135

46,500,751

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

132,297,961

-2.23

135,312,894

-11.22

152,412,983

39.46

109,287,765

135

46,503,608

Employee  costs

239,516

-0.15

239,872

-3.85

249,467

19.46

208,835

-20.82

263,752

Wages  and  salary

192,247

-0.26

192,739

-3.91

200,578

18.09

169,858

-19.18

210,170

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

44,183

3.11

42,852

-3.22

44,280

26.28

35,066

-29.07

49,437

Other  employee  costs

3,086

-27.93

4,282

-7.09

4,609

17.82

3,912

-5.62

4,145

Director  remuneration

135,083

-1.11

136,603

8.87

125,476

-

-

-

-

Amortization  and  depreciation

42,037

-8.85

46,119

-16.60

55,298

1.25

54,615

-12.94

62,729

Operating  result

1,893,877

10.50

1,713,841

-2.65

1,760,532

25.21

1,406,059

46.33

960,883

Total  financial  income

213,014

3875

5,358

116

2,476

13.16

2,188

-92.40

28,773

Total  financial  expenses

1,733,397

16.54

1,487,433

11.99

1,328,184

28.45

1,034,046

49.78

690,394

Results  on  ordinary

373,495

61.15

231,766

-46.70

434,823

16.20

374,200

25.04

299,262

operations  before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before

373,495

61.15

231,766

-46.70

434,823

16.20

374,200

25.04

299,262

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

21,732

-

-

-

-

-

-

-

-28

Results  on  ordinary

351,763

51.78

231,766

-46.70

434,823

16.20

374,200

25.03

299,290

operations  after  taxation

 

 

 

 

 

 

 

 

 

Net  result

351,763

51.78

231,766

-46.70

434,823

16.20

374,200

25.03

299,290

Profit  (Loss)  for  the  Year  to  be appropiated

351,763

51.78

231,766

-46.70

434,823

16.20

374,200

25.03

299,290

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2013

 

Full-time  Employees

4

Part-time  Employees

4

Total  Fte  Employees

7

Number  of  hours  worked

 

Full-time  Employees

6,870

Part-time  Employees

4,262

Total

11,132

Personnel  Charges

 

Full-time  Employees

147,815

Part-time  Employees

91,700

Total

239,516

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

7

Actual  working  hours

11,125

Personnel  Charges

229,491

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

4

4

7

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

4

1

5

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

3

2

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

2

-

2

Blue  collar  worker

2

4

5

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

 

 

Payment Information

 

PAYMENT  INFORMATION  SUMMARY

 

Total  number  of  Invoices  available

1

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

1

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

0

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

5.92

Day  sales  outstanding

110.97

 

 

INDUSTRY  COMPARISON

 

Activity  code

46480

Activity  description

Wholesale  of  watches  and  jewellery

Industry  average  payment

325.03

expectation  days

 

Industry  average  day  sales

503.07

outstanding

 

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

 

Company result            5.92

Lower                           129.13

Median                         62.32

Upper                           18.49

 

 

DAY SALES OUTSTANDING

 

Company result            110.97

Lower                           120.17

Median                         57.09

Upper                           21.56

 

 

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

Company  name

Date  of

number

 

accounts

-

TRAU  BROS  ISRAEL  5764  LTD

-

 

 

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

 

--

 

CURRENT MANDATES IN OTHER COMPANIES

 

Name

Fashion  Principles  NV

Business  number

525646265

Position

Director

Start  Date

28/03/2013

End  Date

28/09/2018

Business  number

525646265

Position

Legal  Representative

Start  Date

28/03/2013

Name

Edu  NV

Business  number

463281797

Position

Director

Start  Date

17/02/2011

End  Date

30/11/2016

Business  number

463281797

Position

Legal  Representative

Start  Date

17/02/2011

 

 

FORMER DIRECTOR DETAILS

 

Name

PHILIPPE  AMIEL

Position

Director

Start  Date

10/06/2004

End  Date

10/06/2010

Date  of  birth

14/04/1969

Street

28 SINT-THOMASSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

Name

LAURENT  TRAU

Position

Director

Start  Date

10/06/2004

End  Date

10/06/2010

Street

26 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

VIVIANE  TRAU

Position

Director

Start  Date

10/06/2004

End  Date

10/06/2010

Street

20 RUBENSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

JOSÉ  AMIEL

Position

Director

Start  Date

05/04/1997

End  Date

29/02/1996

Street

20 RUBENSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

DIDIER  AMIEL

Position

Director

Start  Date

29/02/1996

End  Date

Unknown  date

Street

156 MECHELSESTEENWEG  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.81

UK Pound

1

Rs.98.92

Euro

1

Rs.69.66

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

ANK

 

 

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.