MIRA INFORM REPORT
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Report No. : |
337503 |
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Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
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Name : |
EICHHOLTZ B.V. |
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Registered Office : |
Delfweg 52 2211VN Noordwijkerhout |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.10.1992 |
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Com. Reg. No.: |
KvK-nummer: 28060994 |
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Legal Form : |
Private Company |
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Line of Business : |
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No. of Employees : |
44 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
NETHERLANDS - ECONOMIC
OVERVIEW
The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and moderate unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter. The Netherlands is part of the Eurozone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 90% of banking assets. The sector suffered as a result of the global financial crisis and required billions of dollars of government support, but the European Banking Authority completed stringent reviews in 2014 and deemed Dutch banks to be well-capitalized. To address the 2009 and 2010 economic downturns, the government sought to stimulate the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credits. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE has since implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. As a result, the government budget deficit at the end of 2014 dropped to 1.8% of GDP. Following a protracted recession during which unemployment doubled to 7.4% and household consumption contracted for nearly three consecutive years, the year 2014 saw fragile GDP growth of 0.8 percent and a rise in most economic indicators. Drivers of growth included increased exports and business investments, as well as newly invigorated household consumption.
|
Source
: CIA |
Summary
Company name Eichholtz B.V.
Operative address Delfweg 52
2211VN Noordwijkerhout
Netherlands
Legal form Besloten
Vennootschap
Registration number KvK-nummer:
28060994
VAT-number 807053600
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
||
|
Fixed assets |
2.040.792 |
31,68 |
1.549.834 |
-12,32 |
1.767.620 |
||
|
Total receivables |
2.822.572 |
-74,73 |
11.170.912 |
771,31 |
1.282.076 |
||
|
Total equity |
12.951.364 |
76,26 |
7.347.914 |
-17,56 |
8.912.599 |
||
|
Short term liabilities |
4.816.387 |
-64,21 |
13.456.956 |
231,45 |
4.060.003 |
||
|
Net result |
7.003.450 |
41,90 |
4.935.315 |
-6,23 |
5.263.285 |
||
|
Working capital |
11.416.479 |
79,63 |
6.355.628 |
-14,03 |
7.392.884 |
||
|
Quick ratio |
1,31 |
57,83 |
0,83 |
-28,45 |
1,16 |
||
Contact
information
Company name Eichholtz B.V.
Trade names Eichholtz B.V.
Eichholtz
Eichholtz®
Operative address Delfweg 52
2211VN
Noordwijkerhout
Netherlands
Correspondence address Postbus 23
2160AA Lisse
Netherlands
Telephone number 0252515850
Fax number 0252521364
Email address info@eichholtz.nl
Website www.eichholtz.nl
Registration
Registration number KvK-nummer:
28060994
Branch number 000019842902
VAT-number 807053600
Status Active
First registration company register 1998-04-08
Memorandum 1998-03-31
Establishment date 1992-10-01
Legal form Besloten
Vennootschap
Legal person since 1998-03-31
Last proposed admendment 2011-04-04
Issued placed capital EUR 18.148
Paid up share capital EUR 18.148
Activities
SBI 46471:
Wholesale of home furniture
46472:
Wholesale of furnishing textiles and floor coverings
Exporter Yes
Importer Yes
Branche organisations CBM - Centrale
Bond van Meubelfabrikanten
Goal Import, export
van, groothandel in meubelen, antiek, textiel,
interieurbenodigdheden en
overige artikelen voor binnen- en
buitenhuis
Relations
Shareholders Eichholtz
Vastgoed B.V.
Delfweg 52
2211VN NOORDWIJKERHOUT
Netherlands
Registration number:
281003320000
Percentage: 100%
Companies on same address Eichholtz
Vastgoed B.V.
Registration number:
281003320000
T.F. Eichholtz Holding B.V.
Registration number:
341037980000
Eichholtz Global Trading
B.V.
Registration number:
629470870000
Management
Active management T.F.
Eichholtz Holding B.V.
Delfweg 52
2211VN NOORDWIJKERHOUT
Netherlands
Registration number:
341037980000
Competence: Fully
authorized
Function: Manager
Starting date: 1998-03-31
A.B. Wichers Auke Bart
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2000-01-01
Date of birth: 1966-09-04,
Amsterdam, NL
J.A. van 't Leven Johannes
Anthonie
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2013-12-01
Date of birth: 1982-07-15,
Noordwijkerhout, NL
Employees
Year 2015 2013 2012
2011 2010
Total 44 44 44
44 29
Key figures
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick ratio |
1,31 |
0,83 |
1,16 |
0,84 |
1,17 |
|
Current ratio |
3,37 |
1,47 |
2,82 |
1,90 |
2,06 |
|
|
|||||
|
Working capital/ balance total |
0,62 |
0,30 |
0,56 |
0,42 |
0,47 |
|
Equity / balance total |
0,71 |
0,34 |
0,67 |
0,53 |
0,56 |
|
Equity / Fixed assets |
6,35 |
4,74 |
5,04 |
4,77 |
6,48 |
|
Equity / liabilities |
2,43 |
0,52 |
2,07 |
1,13 |
1,26 |
|
Balance total / liabilities |
3,43 |
1,52 |
3,07 |
2,13 |
2,26 |
|
|
|||||
|
Working capital |
11.416.479 |
6.355.628 |
7.392.884 |
6.046.133 |
4.317.300 |
|
Equity |
12.951.364 |
7.347.914 |
8.912.599 |
7.649.314 |
5.104.906 |
|
Mutation equity |
76,26 |
-17,56 |
16,52 |
49,84 |
-67,44 |
|
Mutation short term liabilities |
-64,21 |
231,45 |
-39,88 |
66,37 |
79,15 |
|
|
|||||
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Return on total assets (ROA) |
53,82 |
30,80 |
53,13 |
42,35 |
50,19 |
|
Return on equity (ROE) |
75,94 |
89,55 |
78,82 |
79,74 |
90,11 |
|
Gross margin |
19.599.476 |
15.769.037 |
14.518.357 |
12.451.035 |
10.002.008 |
|
Operating result |
9.794.371 |
6.605.223 |
7.063.568 |
6.160.523 |
4.573.936 |
|
Net result after taxes |
7.003.450 |
4.935.315 |
5.263.285 |
4.544.288 |
3.426.877 |
|
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|||||
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Cashflow |
7.463.136 |
5.426.704 |
5.659.276 |
4.847.145 |
3.602.899 |
|
EBIT |
9.794.371 |
6.605.223 |
7.063.568 |
6.160.523 |
4.573.936 |
|
EBITDA |
10.254.057 |
7.096.612 |
7.459.559 |
6.463.380 |
4.749.958 |
Summary The 2013 financial
result structure is a postive working captial of
11.416.479 euro, which is
in agreement with 62 % of the total assets of the company.
The working capital has
increased with 79.63 % compared to previous year. The ratio, with respect to the
total assets of the company has however, increased.
The improvement between 2012 and 2013 has mainly
been caused by an increase of the
current assets.
The current ratio of the
company in 2013 was 3.37. If the current ratio exeeds 3.0, the company may not
be using its current assets or its short-term financing facilities efficiently
.
The quick ratio
in 2013 of the company was 1.31. A company with a
Quick Ratio of
more than 1 can currently pay back its current liabilities.
The 2012 financial result
structure is a postive working captial of 6.355.628 euro, which is in agreement
with 30 % of the total assets
of the company.
The working capital has
diminished with -14.03 % compared to previous year. The ratio, with respect to
the total assets of the company has however, declined.
The
deterioration between 2011 and 2012 has mainly been caused by an
increase of the
current liabilities.
The current ratio of the
company in 2012 was 1.47. When the current ratio is below 1.5, the company may
have problems meeting its shortterm obligations.
The quick ratio
in 2012 of the company was 0.83. A company with a
Quick Ratio of
less than 1 cannot currently pay back its current liabilities.
Financial
statement
Last annual account 2013
Remark annual account The company is
obliged to file its financial statements.
Type of annual account Corporate
Annual account Eichholtz
B.V.
Delfweg 52
2211VN Noordwijkerhout
Netherlands
Registration number:
280609940000
Balance
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End date |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Tangible fixed assets |
2.040.791 |
1.549.834 |
1.767.620 |
1.603.181 |
787.606 |
|
Financial fixed assets |
1 |
|
|||
|
Fixed assets |
2.040.792 |
1.549.834 |
1.767.620 |
1.603.181 |
787.606 |
|
|
|||||
|
Total stock |
9.913.158 |
8.591.673 |
6.734.544 |
7.112.713 |
3.625.864 |
|
Accounts receivable |
2.085.495 |
1.495.201 |
1.043.690 |
955.295 |
690.072 |
|
Other receivables |
737.077 |
9.675.711 |
238.386 |
657.870 |
895.522 |
|
Total receivables |
2.822.572 |
11.170.912 |
1.282.076 |
1.613.165 |
1.585.594 |
|
Liquid funds |
3.497.136 |
49.999 |
3.436.267 |
4.073.642 |
3.165.107 |
|
Current assets |
16.232.866 |
19.812.584 |
11.452.887 |
12.799.520 |
8.376.565 |
|
Total assets |
18.273.658 |
21.362.418 |
13.220.507 |
14.402.701 |
9.164.171 |
|
Issued capital |
18.151 |
18.151 |
18.151 |
18.151 |
18.151 |
|
Share premium reserve |
1.057.383 |
1.057.383 |
1.057.383 |
1.057.383 |
1.057.383 |
|
Other reserves |
11.875.830 |
6.272.380 |
7.837.065 |
6.573.780 |
4.029.372 |
|
Total reserves |
12.933.213 |
7.329.763 |
8.894.448 |
7.631.163 |
5.086.755 |
|
Total equity |
12.951.364 |
7.347.914 |
8.912.599 |
7.649.314 |
5.104.906 |
|
|
|||||
|
Provisions |
505.907 |
557.548 |
247.905 |
|
|
|
Accounts payable |
843.458 |
834.231 |
659.395 |
948.715 |
360.114 |
|
Other short term liabilities |
3.972.929 |
12.622.725 |
3.400.608 |
5.804.672 |
3.699.151 |
|
Short term liabilities |
4.816.387 |
13.456.956 |
4.060.003 |
6.753.387 |
4.059.265 |
|
Total short and long term liabilities |
5.322.294 |
14.014.504 |
4.307.908 |
6.753.387 |
4.059.265 |
|
Total liabilities |
18.273.658 |
21.362.418 |
13.220.507 |
14.402.701 |
9.164.171 |
Summary The total
assets of the company decreased with -14.46 % between 2012
and 2013.
Despite the total
assets decrease, non current assets grew with 31.68%.
The asset
reduction is in contrast with the equity growth of 76.26 %.
Due to this the total debt
decreased with -62.02 %.
In 2013 the assets of the
company were 11.17 % composed of fixed assets and 88.83 % by current assets.
The assets are being financed
by an equity of
70.87 %, and total debt of 29.13 %.
The total
assets of the company increased with 61.59 % between 2011
and 2012.
Despite the
assets growth, the non current assets decreased with
-12.32 %.
Asset growth is in
contrasts with the net worth decline of -17.56 %.
The company's
indebtedness has, therefore, increased with 225.32 %.
In 2012 the
assets of the company were 7.25 % composed of fixed
assets and
92.75 % by current assets. The assets are being financed
by an equity of 34.4 %, and
total debt of 65.6 %.
Profit
and loss
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Gross margin |
19.599.476 |
15.769.037 |
14.518.357 |
12.451.035 |
10.002.008 |
|
|
|||||
|
Wages and salaries |
4.501.826 |
3.696.298 |
2.869.775 |
2.274.616 |
1.950.980 |
|
Amorization and depreciation |
459.686 |
491.389 |
395.991 |
302.857 |
176.022 |
|
other operating costs |
4.843.593 |
4.976.127 |
4.189.023 |
3.713.039 |
3.301.070 |
|
Operating expenses |
9.805.105 |
9.163.814 |
7.454.789 |
6.290.512 |
5.428.072 |
|
Operating result |
9.794.371 |
6.605.223 |
7.063.568 |
6.160.523 |
4.573.936 |
|
|
|||||
|
Financial income |
221.618 |
6.756 |
7.218 |
15.739 |
61.874 |
|
Financial expenses |
180.451 |
31.559 |
46.291 |
76.547 |
35.976 |
|
Financial result |
41.167 |
-24.803 |
-39.073 |
-60.808 |
25.898 |
|
Result on ordinary operations before taxes |
9.835.538 |
6.580.420 |
7.024.495 |
6.099.715 |
4.599.834 |
|
|
|||||
|
Taxation on the result of ordinary
activities |
2.332.089 |
1.645.105 |
1.761.210 |
1.555.427 |
1.172.957 |
|
Result of ordinary activities after taxes |
7.503.449 |
4.935.315 |
5.263.285 |
4.544.288 |
3.426.877 |
|
|
|||||
|
Extraordinary expense |
499.999 |
|
|
|
|
|
Extraordinary result after taxation |
-499.999 |
|
|
|
|
|
Net result |
7.003.450 |
4.935.315 |
5.263.285 |
4.544.288 |
3.426.877 |
Summary The gross
profit of the company grew with 24.29 % between 2012 and
2013.
The operating result
of the company grew with 48.28 % between 2012
and 2013. This evolution
implies an increase of the company's economic profitability.
The result of
these changes is an increase of the company's Economic
Profitability
of 74.74 % of the analysed period, being equal to 2012 % in the year 2013.
The Net Result of the
company decreased by 41.9 % between 2012 and
2013.
The company's Financial
Profitability has been positively affected by
the financial activities in
comparison to the EBITs behaviour. The result of these variations is a
profitability increase of -15.2 % of the analysed period, being 75.94 % in the
year 2013.
The company's
financial profitability has been positively affected by
its financial
structure.
The gross
profit of the company grew with 8.61 % between 2011 and
2012.
The operating
result of the company declined with -6.49 % between
2011 and 2012.
This evolution implies an decrease of the company's
economic
profitability.
The result of
these changes is a reduction of the company's Economic
Profitability
of -42.03 % of the analysed period, being equal to 2011
% in the year
2012.
The Net Result
of the company increased by -6.23 % between 2011 and
2012.
The company's
Financial Profitability has been negatively affected by
the financial
activities in comparison to the EBITs behaviour. The
result of these variations
is a profitability reduction of 13.61 % of the analysed period, being 89.55 %
in the year 2012.
The company's financial
structure has slowed down its financial profitability.
Analysis
Branch (SBI) Wholesale trade
(no motor vehicles and motorcycles) (SBI code 46)
Region Rijnland
Summary In the
Netherlands 109662 of the companies are registered with the
SBI code 46
In the region Rijnland 4319
of the companies are registered with the
SBI code 46
In the Netherlands 2387 of
the bankrupcties are published within this
sector
In the region Rijnland 97
of the bankruptcies are published within
this sector
The risk of this specific
sector in the Netherlands is normal
The risk of this specific
sector in the region Rijnland is normal
Publications
Deposits 13-02-2015: De
jaarrekening over 2012 is gepubliceerd.
13-02-2015: De jaarrekening
over 2013 is gepubliceerd.
22-07-2013: De jaarrekening
over 2011 is gepubliceerd.
27-02-2012: De jaarrekening
over 2010 is gepubliceerd.
28-09-2010: De jaarrekening
over 2009 is gepubliceerd.
Functions 31-12-2014: Per
18-12-2014 is gevolmachtigde Cornelis Spijker uit
functie getreden.
19-12-2013: Per 01-12-2013
is gevolmachtigde Johannes Anthonie van 't
Leven in functie getreden.
19-12-2013: Per 01-12-2013
is gevolmachtigde Cornelis Spijker in
functie getreden.
Company
structure
Relations 4
Company Registration
number
Stichting Administratiekantoor T.F. Eichholtz (BLOEMENDAAL) 343741260000
| - - T.F. Eichholtz Holding B.V. (NOORDWIJKERHOUT) 341037980000
| - - | - - Eichholtz Vastgoed B.V. (NOORDWIJKERHOUT) 281003320000
| - - | - - | - - Eichholtz B.V. (Noordwijkerhout) 280609940000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.24 |
|
UK Pound |
1 |
Rs.102.21 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.