MIRA INFORM REPORT

 

 

Report No. :

337841

Report Date :

21.08.2015

 

IDENTIFICATION DETAILS

 

Name :

JEWEL GOLDI BVBA

 

 

Registered Office :

Hoveniersstraat 30-260 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

13.11.2003

 

 

Com. Reg. No.:

861938733

 

 

Legal Form :

Private Limited Company (BL/LX)

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employee :

Not Available

 

 

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 :

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                     861938733

Branche Unit Number               2134387505

Company name                        JEWEL GOLDI BVBA

Address                                   HOVENIERSSTRAAT 30-260

2018 ANTWERPEN

Number of staff                        0

Date of establishment               13/11/2003

Telephone number

Fax number

 

 

Commentary

 

The business was established over 11 years ago.

No employees are recorded for this business.

The business has been at the address for over 11 years.

The credit rating for this business has decreased from 88 to 80.

The credit limit for this business has increased from €210000 to €275000.

Operating Result in the latest trading period increased 135% on the previous trading period.

Net Worth increased by 76% during the latest trading period.

Pre-tax profits increased by 67% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 93% during the latest trading period.

Turnover in the latest trading period increased 74% on the previous trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

19,111,788

67,790

807,169

1,217,207

31/12/2013

10,926,379

40,557

456,690

1,051,653

31/12/2012

15,429,730

33,296

423,680

1,023,583

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

4,293,178

0

555,380

52,502

31/12/2013

4,180,931

0

255,380

35,630

31/12/2012

3,158,417

0

255,380

29,530

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

25.62

Industry  average  payment

105.98

Industry  average  day  sales

171.71

expectation  days

 

outstanding

 

Day  sales  outstanding

66.01

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                --

 

NSSO DETAILS

Date of summons                     --

 

 

Company information

 

Business  number

861938733

Company  name

JEWEL  GOLDI  BVBA

Fax  number

 

Date  founded

13/11/2003

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0861.938.733  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)

 

--

 

 

Company accounts

 

ASSETS

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2014

%

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

1,790

-53.05

3,812

-40.73

6,433

13.80

5,653

409

1,110

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

1,790

-53.05

3,812

-40.73

6,433

13.80

5,653

409

1,110

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

1,087

-59.94

2,712

-45.05

4,936

31.30

3,760

238

1,110

Furniture  &  Vehicles

703

-36.07

1,100

-26.51

1,497

-20.95

1,893

-

-

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

Total  current  assets

4,291,389

2.74

4,177,119

32.52

3,151,984

-59.70

7,820,372

16.39

6,719,049

Inventories

802,387

-49.27

1,581,536

154

621,741

41.69

438,795

-69.20

1,424,465

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

802,387

-49.27

1,581,536

154

621,741

41.69

438,795

-69.20

1,424,465

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

3,456,538

63.98

2,107,930

13.08

1,864,116

-72.88

6,874,194

36.54

5,034,524

Other  amounts  receivable

3,030

-1.09

3,064

-27.54

4,228

-59.28

10,384

416

2,009

Cash

29,433

-93.93

484,535

-26.79

661,846

33.17

496,999

92.60

258,052

Miscellaneous  current  assets

0

-100

54

0.47

54

-

0

-

0

Total  Assets

4,293,178

2.68

4,180,931

32.37

3,158,417

-59.64

7,826,025

16.46

6,720,160

 

 

LIABILITIES

 

Total  shareholders  equity

807,169

76.74

456,690

7.79

423,680

165

159,494

37.58

115,926

Issued  share  capital

555,380

117

255,380

0

255,380

1273

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

251,789

25.08

201,310

19.61

168,300

19.45

140,894

44.77

97,326

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

3,486,010

-6.40

3,724,242

36.18

2,734,737

-64.33

7,666,531

16.09

6,604,234

Other  long  term  loans

411,828

-31.22

598,776

-1.25

606,336

-1.93

618,286

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

411,828

-31.22

598,776

-1.25

606,336

-1.93

618,286

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

1,643,865

1346

113,647

-84.47

731,810

-79.05

3,493,619

34.73

2,593,097

Trade  creditors

1,328,695

-53.84

2,878,622

126

1,272,472

-60.32

3,206,686

4.54

3,067,311

Amounts  Payable  for  Taxes,

17,369

352

3,835

14.84

3,339

284

868

-88.08

7,282

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

84,253

-34.87

129,362

7.11

120,780

-65.20

347,071

-62.94

936,544

Total  current  liabilities

3,074,182

-1.64

3,125,466

46.85

2,128,401

-69.80

7,048,245

6.72

6,604,234

Total  Liabilities

4,293,178

2.68

4,180,931

32.37

3,158,417

-59.64

7,826,025

16.46

6,720,160

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

0.35

-5.41

0.37

68.18

0.22

0

0.22

4.76

0.21

Return  on  capital  employed

5.56

44.79

3.84

18.89

3.23

-52.15

6.75

-82.87

39.40

Return  on  total  assets  employed

1.58

62.89

0.97

-7.62

1.05

56.72

0.67

-1.47

0.68

Return  on  net  assets  employed

8.40

-5.41

8.88

12.98

7.86

-76.12

32.92

-16.45

39.40

Sales  /  net  working  capital

15.70

51.11

10.39

-31.06

15.07

-52.30

31.59

-83.45

190.92

Stock  turnover  ratio

4.20

-70.97

14.47

259

4.03

123

1.80

-72.31

6.50

Creditor  days

25.62

-73.55

96.85

217

30.48

-37.01

48.39

-5.86

51.40

Debtor  days

66.01

-6.26

70.42

59.68

44.10

-57.12

102.85

22.69

83.83

 

SHORT  TERM  STABILITY

 

Current  ratio

1.40

4.48

1.34

-9.46

1.48

33.33

1.11

8.82

1.02

Liquidity  ratio  /  acid  ratio

1.13

36.14

0.83

-30.25

1.19

13.33

1.05

31.25

0.80

Current  debt  ratio

3.81

-44.30

6.84

36.25

5.02

-88.64

44.19

-22.43

56.97

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

52,502

47.35

35,630

20.66

29,530

-33.53

44,428

52.11

29,209

Net  worth

807,169

76.74

456,690

7.79

423,680

165

159,494

37.58

115,926

 

LONG  TERM  STABILITY

 

Gearing

254.68

63.26

156.00

-50.61

315.84

-87.75

2,578.09

15.26

2,236.85

Equity  in  percentage

18.80

72.16

10.92

-18.57

13.41

557

2.04

17.92

1.73

Total  debt  ratio

4.32

-46.99

8.15

26.36

6.45

-86.58

48.07

-15.62

56.97

Working  capital

1,217,207

15.74

1,051,653

2.74

1,023,583

32.57

772,127

572

114,816

 

 

PROFIT &  LOSS

 

Operating  Income

19,112,036

74.91

10,926,679

-29.19

15,430,337

-36.75

24,395,988

11.29

21,921,141

Turnover

19,111,788

74.91

10,926,379

-29.19

15,429,730

-36.75

24,394,830

11.28

21,921,141

Total  operating  expenses

18,927,521

74.48

10,848,186

-28.81

15,238,978

-36.99

24,186,576

11.05

21,779,630

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

18,927,769

74.47

10,848,486

-28.81

15,239,585

-36.99

24,187,734

11.06

21,779,630

Employee  costs

-

-

-

-

-

-

612

475

106

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-100

612

475

106

Director  remuneration

-

-

37,200

-

-

-

-

-

-

Amortization  and  depreciation

2,023

-22.81

2,620

23.35

2,124

147

860

273

230

Operating  result

184,267

135

78,193

-59.01

190,752

-8.40

208,254

47.16

141,511

Total  financial  income

19

-48.83

37

-66.66

111

3102

3

114

2

Total  financial  expenses

116,496

209

37,673

-76.09

157,566

1.16

155,759

62.53

95,834

Results  on  ordinary  operations

67,790

67.15

40,557

21.81

33,296

-36.58

52,499

14.93

45,679

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before

67,790

67.15

40,557

21.81

33,296

-36.58

52,499

14.93

45,679

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

17,311

129

7,547

28.12

5,891

-34.04

8,931

-46.52

16,700

Results  on  ordinary  operations

50,479

52.92

33,010

20.45

27,406

-37.10

43,568

50.35

28,979

after  taxation

 

 

 

 

 

 

 

 

 

Net  result

50,479

52.92

33,010

20.45

27,406

-37.10

43,568

50.35

28,979

Profit  (Loss)  for  the  Year  to  be appropiated

50,479

52.92

33,010

20.45

27,406

-37.10

43,568

50.35

28,979

 

 

Industry comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

industry  average  credit

64.48

rating

 

Industry  average  credit  limit

140177.31

 

 

Payment Information

 

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

 

Amount

-

Details

-

 

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

25.62

Day  sales  outstanding

66.01

 

 

INDUSTRY  COMPARISON

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

105.98

Industry average day sales

outstanding

171.71

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

Company result            25.62

Lower                           118.91

Median                         75.65

Upper                           46.13

 

 

DAY SALES OUTSTANDING

 

Company result            66.01

Lower                           102.70

Median                         55.21

Upper                           25.50

 

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

 

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

 

Name

GIRISHKUMAR  HARILAL  PATEL

Position

Principal  Manager

Start  Date

28/05/2014

Street

22 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

DINESH  VASARAMBHAI  NAROLA

Position

Legal  Representative

Start  Date

13/11/2003

Street

12 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

FORMER DIRECTOR DETAILS

 

Name

GIRISHKUMAR  HARILAL  PATEL

Position

Director

Start  Date

01/10/2009

End  Date

Unknown  date

Street

22 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

D-GOLDI  BVBA

Position

Principal  Manager

Start  Date

13/11/2003

End  Date

Unknown  date

Date  of  birth

19/06/1996

Street

30 HOVENIERSSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.23

UK Pound

1

Rs.102.21

Euro

1

Rs.72.57

 

 

INFORMATION DETAILS

 

Analysis Done by :

TRI

 

 

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.