MIRA INFORM REPORT

 

 

Report No. :

354590

Report Date :

11.12.2015

 

IDENTIFICATION DETAILS

 

Name :

MARVIN IMPEX BVBA

 

 

Registered Office :

Hoveniersstraat 2-Bus 596 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

11.10.2007

 

 

Com. Reg. No.:

893074644

 

 

Legal Form :

Private limited liability company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employee :

Not Available

 

 

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 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 summary

 

Business number                     893074644

Branche Unit Number               2166035833

Company name                        MARVIN IMPEX BVBA

Address                                   HOVENIERSSTRAAT 2-BUS 596

2018 ANTWERPEN

Number of staff                        --

Date of establishment               11/10/2007

Telephone number                   033373880

Fax number                              --

 

 

Commentary

 

The business was established over 8 years ago.

No employees are recorded for this business.

The business has been at the address for over 9 months.

Operating Result in the latest trading period increased 32% on the previous trading period.

Pre-tax profits increased by 26% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 85% during the latest trading period.

Turnover in the latest trading period increased 49% on the previous trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

40,800,307

101,897

1,079,539

1,660,541

31/12/2012

27,304,756

80,500

1,003,497

996,823

31/12/2011

32,454,588

55,934

942,210

934,742

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

19,268,321

-

805,444

76,945

31/12/2012

18,614,907

-

805,444

62,428

31/12/2011

10,613,313

-

805,444

53,383

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

108.98

Industry  average  payment

187.75

Industry  average  day  sales

194.41

expectation  days

 

outstanding

 

Day  sales  outstanding

163.35

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                --

 

NSSO DETAILS

Date of summons                     –

 

 

Company information

 

Business  number

893074644

Company  name

MARVIN  IMPEX  BVBA

Fax  number

-

Date  founded

11/10/2007

Company  status

active

Company  type

Private  limited  liability

 

 

 

company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0893.074.644  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)

 

-----

 

 

SIGNIFICANT  EVENTS

 

Event  Date

08/09/2010

Event  Description

 

Event  Details

De  heer  Pareshkumar  Vitthal  B.  schrijft  in  op  de  1045  nieuwe  aandelen.

 

 

Event  Date

11/10/2007

Event  Description

Legal  creation

Event  Details

 

 

 

Company accounts

 

ASSETS

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

30-06-2010

%

30-06-2009

Weeks

52

 

52

 

78

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

35,343

429

6,674

-10.62

7,468

18.21

6,317

225

1,939

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

1,172

-43.48

2,074

-27.67

2,868

67.00

1,717

-11.45

1,939

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

1,172

-43.48

2,074

-27.67

2,868

67.00

1,717

-11.45

1,939

Furniture  &  Vehicles

0

-

0

-

0

-

0

-

0

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

34,170

642

4,600

0

4,600

0

4,600

-

0

Total  current  assets

19,232,978

3.36

18,608,232

75.45

10,605,845

83.22

5,788,457

76.44

3,280,767

Inventories

908,505

7.31

846,639

-17.31

1,023,910

26.78

807,651

1034

71,211

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

908,505

7.31

846,639

-17.31

1,023,910

-

0

-

0

Other  stocks

0

-

0

-

0

-100

807,651

1034

71,211

Trade  debtors

18,259,684

3.97

17,561,727

84.30

9,528,659

94.05

4,910,469

55.24

3,163,135

Other  amounts  receivable

36,271

17.78

30,797

209

9,965

-56.10

22,697

8.36

20,946

Cash

24,358

-85.40

166,786

314

40,239

-1.65

40,915

64.56

24,863

Miscellaneous  current  assets

4,160

82.19

2,283

-25.67

3,072

-54.32

6,725

1000

611

Total  Assets

19,268,321

3.51

18,614,907

75.39

10,613,313

83.15

5,794,774

76.52

3,282,706

 

 

LIABILITIES

 

Total  shareholders  equity

1,079,539

7.58

1,003,497

6.50

942,210

812

103,287

37.18

75,292

Issued  share  capital

805,444

0

805,444

0

805,444

4230

18,600

0

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

274,095

38.40

198,053

44.81

136,766

61.50

84,687

49.38

56,692

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

18,188,782

3.28

17,611,410

82.10

9,671,103

69.92

5,691,488

77.45

3,207,414

Other  long  term  loans

616,344

-

0

-

0

-

0

-

0

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

616,344

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

2,900,671

3.44

2,804,305

81.37

1,546,189

-

0

-

0

Trade  creditors

12,094,813

-0.42

12,145,837

154

4,776,661

-1.87

4,867,480

95.82

2,485,685

Amounts  Payable  for  Taxes,

27,834

42.82

19,489

124

8,675

-38.18

14,033

-18.05

17,123

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

2,549,119

-3.51

2,641,779

-20.89

3,339,578

312

809,976

14.95

704,606

Total  current  liabilities

17,572,438

-0.22

17,611,410

82.10

9,671,103

69.92

5,691,488

77.45

3,207,414

Total  Liabilities

19,268,321

3.51

18,614,907

75.39

10,613,313

83.15

5,794,774

76.52

3,282,706

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

0.25

-13.79

0.29

70.59

0.17

-

-

-

-

Return  on  capital  employed

6.01

-25.06

8.02

35.02

5.94

-85.38

40.63

-35.71

63.20

Return  on  total  assets  employed

0.53

23.26

0.43

-18.87

0.53

-26.39

0.72

-50.34

1.45

Return  on  net  assets  employed

9.44

17.71

8.02

35.02

5.94

-85.38

40.63

-35.71

63.20

Sales  /  net  working  capital

24.57

-10.30

27.39

-21.11

34.72

-

-

-

-

Stock  turnover  ratio

2.23

-28.06

3.10

-1.59

3.15

-

-

-

-

Creditor  days

108.98

-33.42

163.69

203

53.95

-

-

-

-

Debtor  days

163.35

-30.42

234.76

119

107.16

-

-

-

-

 

SHORT  TERM  STABILITY

 

Current  ratio

1.09

2.83

1.06

-3.64

1.10

7.84

1.02

0

1.02

Liquidity  ratio  /  acid  ratio

1.04

2.97

1.01

2.02

0.99

12.50

0.88

-12.00

1.00

Current  debt  ratio

16.28

-7.24

17.55

71.05

10.26

-81.38

55.10

29.34

42.60

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

76,945

23.25

62,428

16.94

53,383

79.28

29,777

3.26

28,837

Net  worth

1,079,539

7.58

1,003,497

6.50

942,210

812

103,287

37.18

75,292

 

LONG  TERM  STABILITY

 

Gearing

325.79

16.58

279.45

70.29

164.10

-

-

-

-

Equity  in  percentage

5.60

3.90

5.39

-39.30

8.88

398

1.78

-22.27

2.29

Total  debt  ratio

16.85

-3.99

17.55

71.05

10.26

-81.38

55.10

29.34

42.60

Working  capital

1,660,541

66.58

996,823

6.64

934,742

863

96,969

32.20

73,353

 

 

PROFIT & LOSS

 

Operating  Income

40,800,803

49.41

27,308,508

-15.86

32,455,796

-

-

-

-

Turnover

40,800,307

49.43

27,304,756

-15.87

32,454,588

-

-

-

-

Total  operating  expenses

40,507,109

49.56

27,083,761

-16.19

32,316,984

-

-

-

-

Gross  Operating  Margin

-

-

-

-

-

-

50,372

-12.47

57,551

Operating  Charges

40,507,605

49.54

27,087,514

-16.18

32,318,192

-

-

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

63,250

-

-

-

-

Amortization  and  depreciation

902

-20.91

1,141

-12.51

1,304

-26.85

1,782

21.22

1,470

Operating  result

293,198

32.67

220,995

60.60

137,604

213

43,825

-15.41

51,807

Total  financial  income

1,075

80.56

595

-12.53

681

99975

1

-96.59

20

Total  financial  expenses

192,375

36.35

141,090

71.33

82,351

4316

1,865

-56.01

4,239

Results  on  ordinary  operations  before

101,897

26.58

80,500

43.92

55,934

33.30

41,961

-11.82

47,587

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

101,897

26.58

80,500

43.92

55,934

33.30

41,961

-11.82

47,587

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

25,855

34.57

19,213

398

3,855

-72.40

13,966

-30.93

20,220

Results  on  ordinary  operations  after

76,042

24.08

61,287

17.68

52,079

86.03

27,994

2.29

27,367

taxation

 

 

 

 

 

 

 

 

 

Net  result

76,042

24.08

61,287

17.68

52,079

86.03

27,994

2.29

27,367

Profit  (Loss)  for  the  Year  to  be  appropiated

76,042

24.08

61,287

17.68

52,079

86.03

27,994

2.29

27,367

Dividends

-

-

-

-

-

-

-

-

-

 

 

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

108.98

Day  sales  outstanding

163.35

 

INDUSTRY  COMPARISON

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

187.75

Industry average day sales

outstanding

194.41

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

Company  result

108.98

Lower

132.91

Median

60.64

Upper

28.62

 

 

DAY  SALES  OUTSTANDING

 

Company  result

163.35

Lower

131.59

Median

85.12

Upper

47.22

 

 

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

 

Forename

Pareshkumar

Middle  name

-

Surname

Golakiya

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

07/10/2010(estimated)

End  date

-

Percentage  owned

91.27%

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Quinten  Matsijslei

House  number

37

Minor  town

-

Postal  town

Antwerpen

Post  code

2018

Country

Belgium

 

 

COMPANIES THAT MATCH THIS ADDRESS

No Companies Match this address

 

 

Linked Companies

 

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

 

Position

Manager

Start  Date

20/05/2010

Street

37 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Pareshkumar  Golakiya

 

 

FORMER DIRECTOR DETAILS

 

Name

Surendra  Ribadiya

Position

Manager

Start  Date

20/05/2010

End  Date

30/06/2012

Street

51 QUELLINSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Babulal  Godhani

Position

Manager

Start  Date

11/10/2007

End  Date

20/05/2010

Street

42 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.79

UK Pound

1

Rs.101.37

Euro

1

Rs.73.46

EUR

1

Rs.73.01

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.