MIRA INFORM REPORT

 

 

Report No. :

354123

Report Date :

07.12.2015

           

IDENTIFICATION DETAILS

 

Name :

DALI  DIAMOND  COMPANY  NV 

 

 

Registered Office :

Hoveniersstraat  51-Bus  47, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

23.12.1961

 

 

Com. Reg. No.:

404942732

 

 

Legal Form :

Public  Limited  Company

 

 

Line of Business :

Wholesale  of  diamonds  and other  precious  stones

 

 

No. of Employee :

8

 

 

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 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 a 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

 

DALI  DIAMOND  COMPANY  NV 

 

 

Company  summary                              

 

Business  number

404942732

Branche  Unit  Number

2004777885

Company  name

DALI  DIAMOND  COMPANY  NV

Address

HOVENIERSSTRAAT  51-BUS  47

 

2018 ANTWERPEN

Number  of  staff

8

Date  of  establishment

23/12/1961

Telephone  number

032337941

Fax  number

032342615

 

 

Ultimate  holding  company

 

Company  name

Company  Number

DALI  DIAMOND  COMPANY  NV

404942732

 

 

Commentary

 

The  business  was  established  over  53  years  ago. The  business  has  8  employees.

The  business  is  part  of  a  group.

The  business  has  been  at  the  address  for  over  11  years. Pre-tax  profits  increased  by  25%  compared  to  the  previous  trading  period. The  business  saw  an  increase  in  their  Cash  Balance  of  292%  during  the  latest  trading  period. Turnover  in  the  latest  trading  period  increased  28%  on  the  previous  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

258,097,061

557,631

36,371,886

38,144,188

31/12/2013

201,591,784

445,602

31,592,302

32,882,810

31/12/2012

197,235,603

128,536

17,578,866

27,574,528

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

84,694,600

8

16,540,445

540,079

31/12/2013

82,662,395

8

14,562,259

329,919

31/12/2012

95,100,492

8

62,985

187,707

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

14.72

Industry  average  payment

192.73

Industry  average  day  sales

194.48

expectation  days

 

outstanding

 

Day  sales  outstanding

74.20

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type                                no

PROTESTED  BILLS

Bill  amount                                         -

NSSO  DETAILS

Date  of  summons                               -

 

 

Company  information

 

Business  number

404942732

Company  name

DALI  DIAMOND  COMPANY

 

 

 

NV

Fax  number

032342615

Date  founded

23/12/1961

Company  status

active

Company  type

Public  limited  company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and

VAT  Number

BE.0404.942.732  Check  VAT

 

other  precious  stones

 

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)

Significant  Events

Event  Date

20/12/2013

Event  Description

 

Event  Details

De  55  aandelen  na  de  kapitaalsverhoging  worden  gesplitst  in  100  aandelen  voor  1  aandeel,  zodat het  kapitaal  thans  wordt  vertegenwoordigd  door  5500  aandelen.

 

 

 

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

1,942,361

-2.84

1,999,138

-7.08

2,151,363

-3.68

2,233,530

6.61

2,094,954

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

293,536

-46.41

547,700

-13.65

634,269

-7.62

686,599

14.96

597,257

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

257,590

-48.69

501,996

-11.51

567,290

-8.52

620,131

7.69

575,844

Furniture  &  Vehicles

35,946

-21.35

45,704

-31.76

66,979

0.77

66,468

210

21,413

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

1,648,825

13.60

1,451,438

-4.33

1,517,094

-1.93

1,546,932

3.29

1,497,697

Total  current  assets

82,752,239

2.59

80,663,257

-13.22

92,949,129

23.65

75,171,100

46.26

51,395,754

Inventories

28,837,871

-13.77

33,441,585

-17.41

40,493,453

5.80

38,274,542

173

13,995,304

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

28,837,871

-13.77

33,441,585

-17.41

40,493,453

5.80

38,274,542

173

13,995,304

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

52,466,415

12.18

46,768,879

-10.20

52,082,983

42.31

36,598,434

-1.95

37,326,314

Other  amounts  receivable

108,088

29.54

83,437

81.26

46,032

-24.22

60,745

61.39

37,639

Cash

1,297,961

292

330,327

36.09

242,730

88.94

128,466

411

25,122

Miscellaneous  current  assets

41,904

7.36

39,030

-53.50

83,931

-22.94

108,912

857

11,376

Total  Assets

84,694,600

2.46

82,662,395

-13.08

95,100,492

22.86

77,404,630

44.71

53,490,708

 

 

Liabilities

Total  shareholders  equity

36,371,886

15.13

31,592,302

79.72

17,578,866

-1.26

17,803,576

4.04

17,112,063

Issued  share  capital

16,540,445

13.58

14,562,259

23020

62,985

-1.94

64,232

3.27

62,196

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

19,831,441

16.45

17,030,043

-2.77

17,515,881

-1.26

17,739,344

4.04

17,049,867

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

48,322,715

-5.38

51,070,093

-34.12

77,521,626

30.07

59,601,054

63.84

36,378,646

Other  long  term  loans

3,714,664

12.92

3,289,646

-72.92

12,147,025

-1.92

12,384,263

3.23

11,996,790

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

-1

-

0

-

0

-

0

0

-1

Total  long  term  debts

3,714,663

12.92

3,289,646

-72.92

12,147,025

-1.92

12,384,263

3.23

11,996,789

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

33,848,460

-5.79

35,929,029

-26.66

48,989,243

146

19,861,588

152

7,872,059

Trade  creditors

10,331,075

-7.01

11,109,710

-30.66

16,021,707

-40.53

26,939,828

66.95

16,136,269

Amounts  Payable  for  Taxes,

269,922

22.23

220,838

57.95

139,814

-42.52

243,256

21.43

200,331

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

158,594

-69.55

520,870

132

223,837

30.05

172,119

-0.62

173,197

Total  current  liabilities

44,608,051

-6.64

47,780,447

-26.91

65,374,601

38.46

47,216,791

93.66

24,381,856

Total  Liabilities

84,694,600

2.46

82,662,395

-13.08

95,100,492

22.86

77,404,630

44.71

53,490,708

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.22

0

0.22

214

0.07

-46.15

0.13

-

0.00

Return  on  capital  employed

1.39

8.59

1.28

197

0.43

-37.68

0.69

3450

-0.02

Return  on  total  assets  employed

0.66

22.22

0.54

285

0.14

-48.15

0.27

2700

-0.01

Return  on  net  assets  employed

1.53

8.51

1.41

93.15

0.73

-38.14

1.18

2950

-0.04

Sales  /  net  working  capital

6.77

10.44

6.13

-14.27

7.15

27.22

5.62

-0.71

5.66

Stock  turnover  ratio

11.17

-32.67

16.59

-19.19

20.53

-15.79

24.38

166

9.16

Creditor  days

14.72

-27.42

20.28

-32.04

29.84

-52.58

62.93

62.74

38.67

Debtor  days

74.20

-12.38

84.68

-12.14

96.38

13.28

85.08

-4.58

89.16

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.86

10.06

1.69

19.01

1.42

-10.69

1.59

-24.64

2.11

Liquidity  ratio  /  acid  ratio

1.21

22.22

0.99

23.75

0.80

2.56

0.78

-49.02

1.53

Current  debt  ratio

1.23

-18.54

1.51

-59.41

3.72

40.38

2.65

86.62

1.42

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

540,079

63.70

329,919

75.76

187,707

-5.55

198,731

-35.37

307,479

Net  worth

36,371,886

15.13

31,592,302

79.72

17,578,866

-1.26

17,803,576

4.04

17,112,063

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

103.28

-16.80

124.14

-64.31

347.78

92.02

181.12

55.99

116.11

Equity  in  percentage

42.94

12.35

38.22

106

18.48

-19.65

23.00

-28.10

31.99

Total  debt  ratio

1.33

-17.90

1.62

-63.27

4.41

31.64

3.35

57.28

2.13

Working  capital

38,144,188

16.00

32,882,810

19.25

27,574,528

-1.36

27,954,309

3.48

27,013,898

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

258,111,519

28.03

201,598,009

2.20

197,254,311

25.58

157,073,577

2.78

152,826,655

Turnover

258,097,061

28.03

201,591,784

2.21

197,235,603

25.62

157,004,559

2.75

152,806,764

Total  operating  expenses

256,213,434

28.17

199,908,461

2.00

195,988,093

25.44

156,246,544

2.58

152,309,408

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

256,227,892

28.17

199,914,686

1.99

196,006,801

25.39

156,315,562

2.62

152,329,299

Employee  costs

275,473

1.98

270,114

5.48

256,088

-9.75

283,750

7.94

262,872

Wages  and  salary

213,807

3.60

206,379

5.29

196,002

-8.67

214,602

3.54

207,270

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security

42,574

-3.81

44,260

6.48

41,568

-6.30

44,361

14.13

38,870

contributions

 

 

 

 

 

 

 

 

 

Other  employee  costs

19,092

-1.96

19,474

5.16

18,519

-25.29

24,787

48.14

16,732

Director  remuneration

161,659

34.13

120,528

15.43

104,419

11.07

94,012

-

-

Amortization  and

52,098

-9.73

57,714

-13.72

66,895

-0.76

67,408

20.26

56,051

depreciation

 

 

 

 

 

 

 

 

 

Operating  result

1,883,627

11.90

1,683,323

34.93

1,247,510

64.58

758,015

52.41

497,356

Total  financial  income

110,567

142

45,677

-9.18

50,295

-12.55

57,511

-18.12

70,238

Total  financial  expenses

1,436,563

11.93

1,283,399

9.76

1,169,269

92.88

606,226

5.57

574,223

Results  on  ordinary

557,631

25.14

445,602

246

128,536

-38.59

209,300

3157

-6,629

operations  before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

42,162

-

-

-

97,629

9260

1,043

-99

367,472

Extraordinary  Charges

45,216

-

-

-

-

-

-

-

-

Extraordinary  items

-3,054

-

0

-100

97,629

9260

1,043

-99

367,472

Results  for  the  Year  Before

554,577

24.46

445,602

97.03

226,165

7.52

210,343

-41.71

360,843

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

66,596

-61.59

173,397

64.59

105,353

33.32

79,020

-27.78

109,415

Results  on  ordinary

491,035

80.39

272,205

1074

23,183

-82.21

130,280

112

-116,044

operations  after  taxation

 

 

 

 

 

 

 

 

 

Net  result

487,981

79.27

272,205

125

120,812

-8.00

131,323

-47.77

251,428

Profit  (Loss)  for  the  Year  to

487,981

79.27

272,205

125

120,812

-8.00

131,323

-47.77

251,428

be  appropiated

 

 

 

 

 

 

 

 

 

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2014

 

 

 

Full-time  Employees

 

7

 

Part-time  Employees

 

3

 

Total  Fte  Employees

 

8

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

10,771

 

Part-time  Employees

 

1,558

 

Total

 

12,329

 

Personnel  Charges

 

 

 

Full-time  Employees

 

248,586

 

Part-time  Employees

 

26,887

 

Total

 

275,473

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

8

 

Actual  working  hours

 

13,011

 

Personnel  Charges

 

306,807

 

Benefits  In  Addition  To  Wages

 

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

7

3

9

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

Gender  and  Education

 

 

 

Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

1

-

1

Secondairy  education

-

2

1

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

1

-

1

Secondairy  education

5

1

6

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

3

-

3

Blue  collar  worker

4

3

6

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

1

-

1

Leavers

1

-

1

 

 

 

 

Total  of  formal  continuing  vocational  training  initiatives

 

Male

Female

for  workers  paid  by  the  employer

 

-

-

Number  of  employees

 

-

-

Number  of  training  hours

 

-

-

Net  costs  for  enterprise

 

 

 

Total  of  less  formal  and  informal  continuing  vocational

 

Male

Female

training  initiatives  for  workers  paid  by  the  employer

 

-

-

Number  of  employees

 

-

-

Number  of  training  hours

 

-

-

Net  costs  for  enterprise

 

 

 

Total  of  initial  training  initiatives  at  the  expense  of  the

 

Male

Female

employer

 

-

-

Number  of  employees

 

-

-

Number  of  training  hours

 

-

-

Net  costs  for  enterprise

 

 

 

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

 

 

Payment  Information

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

Details

-

Payment  expectations

 

Payment  expectation  days

14.72

Day  sales  outstanding

74.20

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

14.72

Lower

132.91

Median

60.64

Upper

28.62

 

 

Day  sales  outstanding

 

Company  result

74.20

Lower

131.59

Median

85.34

Upper

47.22

 

 

Shareholder  Details

 

Summary

 

Group  -  Number  of  Companies

2

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

Group  Structure

 

 

Company  name

Number

Latest

 

 

financials

- DALI  DIAMOND  COMPANY  NV

404942732

31-12-2014

- - A.  LINK  ACQUISITION  CORPORATION

 

 

 

 

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

2

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

 

Position

Managing  Director

Start  Date

02/01/2001

Street

 

Post  code

 

Country

 

 

 

Name

Isidore  Mörsel

Position

Director

Start  Date

28/05/1987

Street

 

Post  code

 

Country

 

Name

Jacques  Morsel

Position

Director

Start  Date

01/01/2006

Street

8 GOUNODSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Charles  Morsel

Position

Director

Start  Date

21/07/1978

Street

2 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Charles  Holländer

Position

Director

Start  Date

01/04/1977

Post  code

 

Country

 

 

Current  mandates  in  other  companies

 

Name

DALI  GROUP  BTWE

Business  number

895890119

Position

Representative  of  the  VAT  unit

Start  Date

27/02/2008

 

 

Former  director  details

 

 

 

Former  mandates  in  other  companies

 

 

 

Name

SPARKLING  ANTWERP  BVBA

Business  number

867825544

Position

Manager

Start  Date

27/09/2004

End  Date

01/07/2009

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.66.84

UK Pound

1

Rs.101.04

Euro

1

Rs.73.05

EURO

1

Rs. 72.12

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

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.