MIRA INFORM REPORT

 

 

Report No. :

354782

Report Date :

14.12.2015

 

IDENTIFICATION DETAILS

 

Name :

PETRA DIAMONDS BELGIUM BVBA

 

 

Registered Office :

Lange Herentalsestraat 62/70 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

13.03.2009

 

 

Com. Reg. No.:

810466672

 

 

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                     810466672

Branche Unit Number               2176886371

Company name                        PETRA DIAMONDS BELGIUM BVBA

Address                                   LANGE HERENTALSESTRAAT 62/70

2018 ANTWERPEN

Number of staff                        --

Date of establishment               13/03/2009

Telephone number                   032255620

Fax number                              --

 

 

Commentary

 

The business was established over 6 years ago.

No employees are recorded for this business.

The business has been at the address for over 15 months.

Operating Result in the latest trading period decreased 21% on the previous trading period.

A 96% growth in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 27% compared to the previous trading period.

The business saw an increase in their Cash Balance of 145% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

30/06/2014

39,436,991

6,246

58,799

24,797

30/06/2013

34,566,504

8,623

53,803

32,230

30/06/2012

19,670,935

4,767

48,142

23,304

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

30/06/2014

11,426,900

-

18,600

9,674

30/06/2013

5,816,013

-

18,600

9,621

30/06/2012

3,692,910

-

18,600

8,148

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

101.07

Industry  average  payment

187.64

Industry  average  day  sales

194.53

expectation  days

 

outstanding

 

Day  sales  outstanding

39.67

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                --

 

NSSO DETAILS

Date of summons                     --

 

 

Company information

 

Business  number

810466672

Company  name

PETRA  DIAMONDS

 

 

 

BELGIUM  BVBA

Fax  number

-

Date  founded

13/03/2009

Company  status

active

Company  type

Private  limited  liability

 

 

 

company

Currency

Euro  (€)

Date  of  latest  accounts

30/06/2014

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0810.466.672  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

13/03/2009

Event  Description

Legal  creation

Event  Details

 

 

 

Company accounts

 

ASSETS

 

Annual  accounts

30-06-2014

%

30-06-2013

%

30-06-2012

%

30-06-2011

%

30-06-2010

Weeks

52

 

52

 

52

 

52

 

67

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

34,003

57.62

21,573

-13.15

24,838

-6.34

26,519

-5.62

28,097

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

34,003

57.62

21,573

-13.15

24,838

-6.34

26,519

-5.62

28,097

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

12,324

-17.00

14,848

-14.53

17,372

-12.69

19,896

-29.19

28,097

Furniture  &  Vehicles

14,227

111

6,725

-9.93

7,466

12.73

6,623

-

0

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

7,451

-

0

-

0

-

0

-

0

Financial  fixed  assets

0

-

0

-

0

-

0

-

0

Total  current  assets

11,392,897

96.62

5,794,440

57.97

3,668,072

17.95

3,109,937

936

300,061

Inventories

0

-

0

-

0

-

0

-

0

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

4,285,872

47.90

2,897,843

-0.93

2,925,091

2004

138,988

-36.73

219,666

Other  amounts  receivable

4,411

2.14

4,319

-47.72

8,261

-58.77

20,036

54.68

12,953

Cash

7,090,531

145

2,892,278

293

734,520

-75.09

2,949,085

4272

67,442

Miscellaneous  current  assets

12,083

-

0

-100

201

-89.03

1,828

-

0

Total  Assets

11,426,900

96.47

5,816,013

57.49

3,692,910

17.74

3,136,456

855

328,159

 

 

LIABILITIES

 

Total  shareholders  equity

58,799

9.29

53,803

11.76

48,142

10.48

43,575

-1.10

44,059

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

40,199

14.19

35,203

19.16

29,542

18.28

24,975

-1.90

25,459

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

11,368,101

97.29

5,762,210

58.10

3,644,769

17.84

3,092,881

988

284,100

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

0

-

0

-

0

-

0

-

0

Trade  creditors

10,915,040

101

5,422,949

63.31

3,320,605

12.43

2,953,482

995

269,601

Amounts  Payable  for  Taxes,

1,706

-43.55

3,022

-6.02

3,216

7.20

3,000

-79.31

14,498

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

451,354

34.24

336,238

4.76

320,948

135

136,399

-

0

Total  current  liabilities

11,368,101

97.29

5,762,210

58.10

3,644,769

17.84

3,092,881

988

284,100

Total  Liabilities

11,426,900

96.47

5,816,013

57.49

3,692,910

17.74

3,136,456

855

328,159

 

 

RATIO ANALYSIS

 

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

0.02

0

0.02

0

0.02

200

-0.01

-100

18.21

Return  on  capital  employed

10.62

-33.75

16.03

61.92

9.90

505

-1.96

-102

90.69

Return  on  total  assets  employed

0.05

-66.67

0.15

15.38

0.13

433

-0.03

-100

12.18

Return  on  net  assets  employed

10.62

-33.75

16.03

61.92

9.90

505

-1.96

-102

90.69

Sales  /  net  working  capital

1,590.42

48.29

1,072.49

27.06

844.10

89.65

445.09

3137

13.75

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

101.07

76.39

57.30

-7.07

61.66

-56.60

142.06

-71.00

489.83

Debtor  days

39.67

29.64

30.60

-43.63

54.28

712

6.68

-98.17

365.33

 

SHORT  TERM  STABILITY

 

Current  ratio

1.00

-0.99

1.01

0

1.01

0

1.01

-4.72

1.06

Liquidity  ratio  /  acid  ratio

1.00

-0.99

1.01

0

1.01

0

1.01

-4.72

1.06

Current  debt  ratio

193.34

80.52

107.10

41.46

75.71

6.66

70.98

1000

6.45

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

9,674

0.55

9,621

18.08

8,148

181

2,893

-90.03

29,015

Net  worth

58,799

9.29

53,803

11.76

48,142

10.48

43,575

-1.10

44,059

 

LONG  TERM  STABILITY

 

Gearing

-

-

-

-

-

-

-

-

-

Equity  in  percentage

0.51

-45.16

0.93

-28.46

1.30

-6.47

1.39

-89.65

13.43

Total  debt  ratio

193.34

80.52

107.10

41.46

75.71

6.66

70.98

1000

6.45

Working  capital

24,797

-23.06

32,230

38.30

23,304

36.63

17,056

6.86

15,962

PROFIT & LOSS

 

Operating  Income

39,437,115

14.09

34,566,538

75.72

19,671,011

159

7,591,572

3359

219,468

Turnover

39,436,991

14.09

34,566,504

75.72

19,670,935

159

7,591,572

3359

219,468

Total  operating  expenses

39,417,741

14.12

34,541,838

75.73

19,655,914

159

7,588,243

3677

200,897

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

39,417,865

14.12

34,541,873

75.73

19,655,990

159

7,588,243

3677

200,897

Employee  costs

-

-

-

-

-

-

321

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

-

-

0

-

0

-100

321

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

4,677

18.10

3,960

10.59

3,581

6.05

3,377

-5.03

3,556

Operating  result

19,250

-21.96

24,665

64.21

15,021

351

3,330

-82.07

18,572

Total  financial  income

0

33.33

0

-

-

-

-

-

33,187

Total  financial  expenses

13,004

-18.94

16,042

56.44

10,254

145

4,182

-64.56

11,801

Results  on  ordinary  operations  before

6,246

-27.57

8,623

80.91

4,767

559

-852

-102

39,957

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

-

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

6,246

-27.57

8,623

80.91

4,767

559

-852

-102

39,957

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

1,249

-57.83

2,962

1381

200

54.30

-368

-102

14,498

Results  on  ordinary  operations  after

4,997

-11.74

5,661

23.96

4,567

943

-484

-101

25,459

taxation

 

 

 

 

 

 

 

 

 

Net  result

4,997

-11.74

5,661

23.96

4,567

943

-484

-101

25,459

Profit  (Loss)  for  the  Year  to  be appropiated

4,997

-11.74

5,661

23.96

4,567

943

-484

-

-

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry comparison

 

Activity code                            46761

Activity description                  Wholesale of diamonds and other precious stones

industry average credit

rating                                       68.12

Industry average credit limit     214907.90

 

 

Payment Information

 

SUSPENSION OF PAYMENTS / MORATORIUM HISTORY

Amount

-

Details

-

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

101.07

Day  sales  outstanding

39.67

 

INDUSTRY  COMPARISON

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

187.64

expectation  days

 

Industry  average  day  sales

194.53

outstanding

 

 

 

Industry quartile analysis

 

PAYMENT  EXPECTATIONS

 

Company  result

101.07

Lower

132.91

Median

60.30

Upper

28.62

 

 

DAY SALES OUTSTANDING

 

Company  result

39.67

Lower

131.59

Median

84.67

Upper

46.95

 

 

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

 

 

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

 

Position

Manager

Start  Date

04/09/2014

Street

22 SILVERPOINT  OFFICE  PARK,  EALINE  CRESCENT

Post  code

2021

Country

South  Africa

Name

Gregory  Stephenson

 

 

FORMER DIRECTOR DETAILS

 

Name

Jeschie  Widawski

Position

Manager

Start  Date

13/03/2009

End  Date

04/09/2014

Street

42 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.79

UK Pound

1

Rs.101.10

Euro

1

Rs.73.10

EUR

1

Rs.73.45

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.