MIRA INFORM REPORT

 

 

Report No. :

337656

Report Date :

22.08.2015

 

IDENTIFICATION DETAILS

 

Name :

ROSEDIAM  BVBA 

 

 

Registered Office :

Hoveniersstraat  2-Bus  127, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.10.1982

 

 

Com. Reg. No.:

427999929

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Subject is engaged in wholesale  of  watches  and jewellery

 

 

No. of Employee :

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 name

 

ROSEDIAM  BVBA 

 

 

Company  summary

 

Business  number

427999929

Branche  Unit  Number

2028786672

Company  name

ROSEDIAM  BVBA

Address

HOVENIERSSTRAAT  2-BUS  127

 

2018 ANTWERPEN

Number  of  staff

1

Date  of  establishment

23/10/1985

Telephone  number

032342475

Fax  number

032261908

 

 

Commentary

 

The  business  was  established  over  29  years  ago. The  business  has  1  employees.

The  business  has  been  at  the  address  for  over  18  years.

The  business  saw  a  decrease  in  their  Cash  Balance  of  58%  during  the  latest  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/03/2014

53,878,157

57,675

4,156,646

6,091,938

31/03/2013

58,299,303

66,336

2,235,601

1,811,366

31/03/2012

50,342,584

6,782

2,182,900

1,779,755

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/03/2014

21,974,536

1

3,617,256

65,351

31/03/2013

25,369,650

2

18,600

67,547

31/03/2012

23,344,461

1

18,600

21,042

 

 


Payment  expectations

 

Past  payments

 

Payment  expectation  days

63.98

Industry  average  payment

325.56

Industry  average  day  sales

500.77

expectation  days

 

outstanding

 

Day  sales  outstanding

96.58

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

PROTESTED  BILLS

Bill  amount

-

NSSO  DETAILS

 

Date  of  summons

-

 

 

Company  information

 

Business  number

427999929

Company  name

ROSEDIAM  BVBA

Fax  number

032261908

Date  founded

23/10/1985

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/03/2014

Activity  code

46480

Liable  for  VAT

yes

Activity  description

Wholesale  of  watches  and

VAT  Number

BE.0427.999.929  Check  VAT

 

jewellery

 

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

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

Significant  Events

 

Event  Date

20/09/2013

Event  Description

 

Event  Details

De  heer  Sanghvi  Jitendrakumar  Devichandji  schrijft  in  op  de  643  nieuwe  aandelen.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-03-2014

%

31-03-2013

%

31-03-2012

%

31-03-2011

%

31-03-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

421,830

-0.57

424,235

5.23

403,144

-2.78

414,686

0.06

414,443

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

417,628

-0.57

420,033

5.29

398,942

-2.81

410,484

0.06

410,241

Land  &  building

370,878

-2.06

378,690

-2.02

386,502

-1.98

394,314

-1.94

402,126

Plant  &  machinery

46,454

13.81

40,818

242

11,928

-21.34

15,163

115

7,029

Furniture  &  Vehicles

296

-43.72

525

2.48

513

-49.09

1,007

-7.30

1,086

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

4,202

0

4,202

0

4,202

0

4,202

0

4,202

Total  current  assets

21,552,706

-13.60

24,945,415

8.74

22,941,316

8.69

21,106,734

23.68

17,066,208

Inventories

7,115,607

-21.26

9,037,350

6.22

8,507,914

7.25

7,932,971

19.31

6,648,947

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

7,115,607

-21.26

9,037,350

6.22

8,507,914

7.25

7,932,971

19.31

6,648,947

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

14,256,033

-9.88

15,818,915

10.52

14,312,875

8.89

13,144,894

28.61

10,220,533

Other  amounts  receivable

152,315

1318

10,735

108

5,149

20.54

4,272

30.87

3,264

Cash

23,854

-58.46

57,428

-40.72

96,870

515

15,734

-91.65

188,513

Miscellaneous  current  assets

4,896

-76.67

20,987

13.39

18,508

108

8,863

79.04

4,951

Total  Assets

21,974,536

-13.38

25,369,650

8.68

23,344,461

8.47

21,521,420

23.12

17,480,651

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

4,156,646

85.93

2,235,601

2.41

2,182,900

0.40

2,174,139

1.46

2,142,801

Issued  share  capital

3,617,256

19347

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

226,715

0

226,715

0

226,715

0

226,715

Reserves

539,390

-72.90

1,990,286

2.72

1,937,584

0.45

1,928,823

1.65

1,897,486

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

17,817,890

-22.98

23,134,049

9.32

21,161,561

9.38

19,347,281

26.14

15,337,850

Other  long  term  loans

2,357,122

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

2,357,122

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

4,717,483

-49.48

9,337,339

19.77

7,796,174

-6.13

8,305,318

11.95

7,418,948

Trade  creditors

9,372,454

-23.90

12,315,366

3.08

11,946,896

23.38

9,683,319

49.17

6,491,324

Amounts  Payable  for  Taxes,

29,004

3.03

28,151

208

9,123

-53.23

19,507

-0.24

19,554

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

1,341,827

-7.66

1,453,193

3.11

1,409,367

5.24

1,339,138

-4.89

1,408,024

Total  current  liabilities

15,460,768

-33.17

23,134,049

9.32

21,161,561

9.38

19,347,281

26.14

15,337,850

Total  Liabilities

21,974,536

-13.38

25,369,650

8.68

23,344,461

8.47

21,521,420

23.12

17,480,651

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.11

0

0.11

1000

0.01

-85.71

0.07

16.67

0.06

Return  on  capital  employed

0.89

-70.03

2.97

858

0.31

-82.08

1.73

71.29

1.01

Return  on  total  assets  employed

0.26

0

0.26

766

0.03

-83.33

0.18

50.0

0.12

Return  on  net  assets  employed

1.39

-53.20

2.97

858

0.31

-82.08

1.73

71.29

1.01

Sales  /  net  working  capital

8.84

-72.54

32.19

13.79

28.29

-6.57

30.28

49.53

20.25

Stock  turnover  ratio

13.21

-14.77

15.50

-8.28

16.90

13.50

14.89

-21.63

19.00

Creditor  days

63.98

-17.68

77.72

-10.94

87.27

30.66

66.79

-2.31

68.37

Debtor  days

96.58

-2.48

99.04

-4.56

103.77

15.25

90.04

-15.53

106.60

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.39

28.70

1.08

0

1.08

-0.92

1.09

-1.80

1.11

Liquidity  ratio  /  acid  ratio

0.93

34.78

0.69

1.47

0.68

0

0.68

0

0.68

Current  debt  ratio

3.72

-64.06

10.35

6.81

9.69

8.88

8.90

24.30

7.16

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

65,351

-3.25

67,547

221

21,042

-51.80

43,658

35.30

32,269

Net  worth

4,156,646

85.93

2,235,601

2.41

2,182,900

0.40

2,174,139

1.46

2,142,801

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

170.20

-59.25

417.67

16.95

357.15

-6.51

382.00

10.33

346.23

Equity  in  percentage

18.92

114

8.81

-5.78

9.35

-7.43

10.10

-17.62

12.26

Total  debt  ratio

4.29

-58.55

10.35

6.81

9.69

8.88

8.90

24.30

7.16

Working  capital

6,091,938

236

1,811,366

1.78

1,779,755

1.15

1,759,452

1.80

1,728,359

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

53,879,312

-7.58

58,300,755

15.80

50,344,607

-5.52

53,284,068

52.27

34,994,097

Turnover

53,878,157

-7.58

58,299,303

15.81

50,342,584

-5.52

53,283,588

52.26

34,994,077

Total  operating  expenses

53,471,386

-7.54

57,833,605

15.75

49,965,385

-5.58

52,915,972

52.69

34,655,560

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

53,472,540

-7.54

57,835,057

15.75

49,967,408

-5.57

52,916,452

52.69

34,655,580

Employee  costs

54,002

36.45

39,578

10.32

35,875

-17.48

43,476

-4.03

45,302

Wages  and  salary

44,135

32.49

33,312

15.35

28,880

-16.33

34,518

-3.97

35,944

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

8,732

84.72

4,727

-18.23

5,781

-25.35

7,745

0.32

7,720

Other  employee  costs

1,135

-26.19

1,538

26.75

1,214

0.02

1,213

-25.96

1,639

Director  remuneration

152,898

25.20

122,126

9.53

111,500

0.05

111,440

0

111,440

Amortization  and  depreciation

15,984

7.67

14,845

20.89

12,281

-0.33

12,321

-6.08

13,118

Operating  result

406,772

-12.65

465,698

23.46

377,199

2.61

367,616

8.60

338,516

Total  financial  income

10

-99

1,513

1906

75

-93.37

1,137

725

138

Total  financial  expenses

349,106

-12.91

400,875

8.20

370,493

11.90

331,080

4.41

317,097

Results  on  ordinary  operations

57,675

-13.06

66,336

878

6,782

-82.00

37,672

74.75

21,557

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

4,959

140

2,066

-

-

-

-

Extraordinary  Charges

-

-

4,403

-

-

-

-

-

-

Extraordinary  items

0

-100

555

-73.12

2,066

-

0

-

0

Results  for  the  Year  Before

57,675

-13.78

66,892

656

8,848

-76.51

37,672

74.75

21,557

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

8,309

-41.45

14,190

16304

87

-98.63

6,335

163

2,407

Results  on  ordinary  operations

after  taxation

49,367

-5.33

52,146

678

6,695

-78.64

31,337

63.63

19,151

Net  result

49,367

-6.33

52,702

501

8,761

-72.04

31,337

63.63

19,151

Profit  (Loss)  for  the  Year  to  be

appropiated

49,367

-6.33

52,702

501

8,761

-72.04

31,337

63.63

19,151

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

 

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-03-2014

 

 

 

Full-time  Employees

 

1

 

Part-time  Employees

 

1

 

Total  Fte  Employees

 

2

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

1,809

 

Part-time  Employees

 

1,624

 

Total

 

3,433

 

Personnel  Charges

 

 

 

Full-time  Employees

 

29,737

 

Part-time  Employees

 

24,265

 

Total

 

54,002

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

2

 

Actual  working  hours

 

2,133

 

Personnel  Charges

 

39,578

 

Benefits  In  Addition  To  Wages

 

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

1

1

2

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

1

-

1

Secondairy  education

-

1

1

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

-

1

1

Blue  collar  worker

1

-

1

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

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

Details

-

 

 

Payment  expectations

 

Payment  expectation  days

63.98

Day  sales  outstanding

96.58

 

 

Industry  comparison

 

Activity  code

46480

Activity  description

Wholesale  of  watches  and  jewellery

Industry  average  payment

325.56

expectation  days

 

Industry  average  day  sales

500.77

outstanding

 

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

63.98

Lower

129.13

Median

62.32

Upper

21.77

Day  sales  outstanding

 

Company  result

96.58

Lower

120.17

Median

56.97

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

 

No  minority  interests  found

 

Individual  Shareholders

 

 

SHAREHOLDER  NAME

 

Forename

Jitendrakumar

Middle  name

-

Surname

Sanghvi

 

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

14/10/2013(estimated)

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

-

House  number

-

Minor  town

-

Postal  town

-

Post  code

-

Country

India

 

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

RAJESH  KUMAR  JAIN

Position

Principal  Manager

Start  Date

06/12/2014

Street

47 MOLENVELDLAAN  EDEGEM

Post  code

2650

Country

Belgium

Name

ANILKUMAR  SANGHVI

Position

Principal  Manager

Start  Date

07/11/2010

Street

35 PLANTIN  EN  MORETUSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

ASHOKKUMAR  JAVERCHAND  KANKARIYA

Position

Principal  Manager

Start  Date

07/11/2010

Street

96 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

RAJENDRAKUMAR  JAIN

Position

Principal  Manager

Start  Date

26/06/1998

Street

Post  code Country

 

Former  director  details

 

Name

RANJEEMAT,

Position

Principal  Manager

Start  Date

23/05/1997

End  Date

Unknown  date

Street

0 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.65.83

UK Pound

1

Rs.103.39

Euro

1

Rs.74.27

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ASH

 

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.