MIRA INFORM REPORT
|
Report No. : |
356048 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
VITABLEND NEDERLAND B.V. |
|
|
|
|
Registered Office : |
Frisaxstraat 1 8471ZW Wolvega |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
29.12.2000 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 01108877 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
|
|
|
|
|
No. of Employee : |
25 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
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) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
NETHERLANDS ECONOMIC OVERVIEW
The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and moderate unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter. The Netherlands is part of the Eurozone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 90% of banking assets. The sector suffered as a result of the global financial crisis and required billions of dollars of government support, but the European Banking Authority completed stringent reviews in 2014 and deemed Dutch banks to be well-capitalized. To address the 2009 and 2010 economic downturns, the government sought to stimulate the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credits. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE has since implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. As a result, the government budget deficit at the end of 2014 dropped to 1.8% of GDP. Following a protracted recession during which unemployment doubled to 7.4% and household consumption contracted for nearly three consecutive years, the year 2014 saw fragile GDP growth of 0.8 percent and a rise in most economic indicators. Drivers of growth included increased exports and business investments, as well as newly invigorated household consumption.
|
Source
: CIA |
Summary
Company name Vitablend
Nederland B.V.
Operative address Frisaxstraat 1
8471ZW Wolvega
Netherlands
Legal form Private Limited
Company
Registration number KvK-nummer:
01108877
VAT-number 814886279
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed assets |
1.792.759 |
-4,34 |
1.874.187 |
9,63 |
1.709.579 |
|
Total receivables |
4.370.425 |
15,89 |
3.771.147 |
-19,49 |
4.684.139 |
|
Total equity |
5.119.303 |
-29,89 |
7.301.829 |
20,99 |
6.035.194 |
|
Short term liabilities |
4.153.471 |
3,60 |
4.008.989 |
10,95 |
3.613.430 |
|
Net result |
817.474 |
-35,46 |
1.266.635 |
12,87 |
1.122.164 |
|
Working capital |
3.376.040 |
-38,36 |
5.477.138 |
22,60 |
4.467.499 |
|
Quick ratio |
1,17 |
-31,18 |
1,70 |
30,77 |
1,30 |
Contact
information
|
Company name |
Vitablend Nederland B.V. |
|
Trade names |
Vitablend Nederland B.V. |
|
|
|
|
Operative address |
Frisaxstraat 1 |
|
|
8471ZW Wolvega |
|
|
Netherlands |
|
|
|
|
Correspondence address |
Postbus 220 |
|
|
8470AE Wolvega |
|
|
Netherlands |
|
|
|
|
Telephone number |
0561691888 |
|
Fax number |
0561614501 |
|
|
|
|
Email address |
|
|
Website |
Registration
|
Registration number |
KvK-nummer: 01108877 |
|
Branch number |
000016647351 |
|
VAT-number |
814886279 |
|
|
|
|
Status |
Active |
|
First registration company register |
2005-05-31 |
|
Memorandum |
2005-05-30 |
|
Establishment date |
2000-12-29 |
|
|
|
|
Legal form |
Private Limited Company |
|
Legal person since |
2005-05-30 |
|
|
|
|
Issued placed capital |
EUR 18.000 |
|
Paid up share capital |
EUR 18.000 |
Activities
|
SBI |
2110: Manufacture of basic pharmaceutical products |
|
|
46389: Specialised wholesale of other raw and
semi-finished materials for the manufacturing of food |
|
|
|
|
Exporter |
No |
|
Importer |
No |
|
|
|
|
Goal |
De in- en verkoop van grondstoffen en het produceren van
mengsels voor de |
|
|
farmaceutische- en levensmiddelenindustrie. |
Relations
Shareholders Vitablend Holding B.V.
Frisaxstraat 1C
8471ZW WOLVEGA
Netherlands
Registration
number: 01091025
Percentage:
100%
Companies on same address Barentz
Ingredients B.V.
Registration number:
34171313
Vsquare B.V.
Registration number: 50018094
Bank
details
Accounts ABN
Amro Bank NV
Account number:
NL75ABNA0581354451
BIC: ABNANL2A
Management
Active management Vitablend
Holding B.V.
Frisaxstraat 1C
8471ZW WOLVEGA
Netherlands
Registration number:
01091025
Competence: Fully
authorized
Function: Manager
Starting date: 2005-05-30
Barentz International B.V.
Saturnusstraat 15
2132HB Hoofddorp
Netherlands
Registration number:
34072351
Competence: Fully
authorized
Function: General Director
Starting date: 2012-07-01
E.H.W. Engbersen Erik
Herman Willibrordus
Netherlands
Competence: Fully
authorized
Function: Proxy
Starting date: 2015-11-18
Date of birth: 1963-11-07,
Almelo, NL
Involved with the following
companies:
MDB Twello B.V.
Oude Rijksstraatweg 36
7391ME TWELLO
Netherlands
Registration number:
08042245
Function: Proxy
C. Schepers Cornelis
Netherlands
Competence: Fully
authorized
Function: Proxy
Starting date: 2013-07-15
Date of birth: 1969-05-30,
Hardenberg, NL
Involved with the following
companies:
MDB Twello B.V.
Oude Rijksstraatweg 36
7391ME TWELLO
Netherlands
Registration number:
08042245
Function: Proxy
L. van der Wal Linda
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2015-11-18
Date of birth: 1981-03-13,
Heerenveen, NL
D. Weistra Dirk-Pieter
Netherlands
Competence: Limited
authorization
Function: Proxy
Starting date: 2015-11-18
Date of birth: 1989-02-05, Harlingen, NL
Employees
|
Total according to the Chamber of Commerce |
25 |
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Total |
25 |
65 |
63 |
56 |
45 |
Payments
Description Payments are made regularly no complaints are known
Key
figures
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
1,17 |
1,70 |
1,30 |
1,06 |
0,94 |
|
Current ratio |
1,81 |
2,37 |
2,24 |
1,71 |
1,53 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Working
capital/ balance total |
0,36 |
0,48 |
0,46 |
0,33 |
0,25 |
|
Equity / balance
total |
0,55 |
0,64 |
0,62 |
0,49 |
0,44 |
|
Equity / Fixed
assets |
2,86 |
3,90 |
3,53 |
2,53 |
1,65 |
|
Equity / liabilities |
1,22 |
1,80 |
1,61 |
0,94 |
0,79 |
|
Balance total /
liabilities |
2,22 |
2,80 |
2,61 |
1,94 |
1,79 |
|
Working capital |
3.376.040 |
5.477.138 |
4.467.499 |
3.381.524 |
2.016.195 |
|
Equity |
5.119.303 |
7.301.829 |
6.035.194 |
4.913.030 |
3.525.172 |
|
Mutation equity |
-29,89 |
20,99 |
22,84 |
39,37 |
65,15 |
|
Mutation short term
liabilities |
3,60 |
10,95 |
-24,63 |
25,92 |
2,16 |
|
Return on total
assets (ROA) |
11,70 |
14,92 |
15,11 |
18,32 |
23,49 |
|
Return on equity
(ROE) |
21,31 |
23,21 |
24,51 |
37,72 |
53,03 |
|
Gross margin |
8.712.311 |
8.512.818 |
7.120.355 |
7.072.434 |
6.553.299 |
|
Operating result |
1.048.306 |
1.750.431 |
1.640.331 |
1.869.373 |
1.927.222 |
|
Net result after
taxes |
817.474 |
1.266.635 |
1.122.164 |
1.387.858 |
1.390.668 |
|
Cashflow |
1.528.851 |
1.912.262 |
1.803.132 |
2.038.495 |
1.995.512 |
|
EBIT |
1.048.306 |
1.750.431 |
1.640.331 |
1.869.373 |
1.927.222 |
|
EBITDA |
1.759.683 |
2.396.058 |
2.321.299 |
2.520.010 |
2.532.066 |
Summary The 2014 financial result structure is a postive working captial of 3.376.040 euro, which is in
agreement with 36 % of the total assets of the company.
The working capital has diminished with -38.36 % compared to previous year. The ratio, with
respect to the total assets of the company has however, declined.
The deterioration between 2013 and 2014 has mainly been caused by an increase of the
current liabilities.
The current ratio of the company in 2014 was 1.81. A company with a current ratio between
1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2014 of the company was 1.17. A company with a Quick Ratio of more than
1 can currently pay back its current liabilities.
The 2013 financial result structure is a postive working captial of 5.477.138 euro, which is in
agreement with 48 % of the total assets of the company.
The working capital has increased with 22.6 % compared to previous year. The ratio, with
respect to the total assets of the company has however, increased.
The improvement between 2012 and 2013 has mainly been caused by an increase of the
current assets.
The current ratio of the company in 2013 was 2.37. A company with a current ratio between
1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2013 of the company was 1.7. A company with a Quick Ratio of more than
1 can currently pay back its current liabilities.
Financial
statement
Last annual account 2014
Remark annual account The company is
obliged to file its financial statements.
Type of annual account Corporate
Annual account Vitablend
Nederland B.V.
Frisaxstraat 1
8471ZW Wolvega
Netherlands
Registration number: 01108877
Balance
sheet
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Tangible fixed assets |
1.792.759 |
1.874.187 |
1.709.579 |
1.938.380 |
2.135.811 |
|
Fixed assets |
1.792.759 |
1.874.187 |
1.709.579 |
1.938.380 |
2.135.811 |
|
Total stock |
2.664.184 |
2.662.450 |
3.396.790 |
3.103.321 |
2.262.252 |
|
Accounts receivable |
2.722.264 |
2.893.578 |
3.620.503 |
3.588.061 |
2.210.601 |
|
Other receivables |
1.648.161 |
877.569 |
1.063.636 |
619.393 |
508.732 |
|
Total receivables |
4.370.425 |
3.771.147 |
4.684.139 |
4.207.454 |
2.719.333 |
|
Liquid funds |
494.902 |
3.052.530 |
|
865.148 |
842.162 |
|
Current assets |
7.529.511 |
9.486.127 |
8.080.929 |
8.175.923 |
5.823.747 |
|
Total assets |
9.322.270 |
11.360.314 |
9.790.508 |
10.114.303 |
7.959.558 |
|
Issued capital |
18.000 |
18.000 |
18.000 |
18.000 |
18.000 |
|
Share premium reserve |
389.419 |
389.419 |
389.419 |
389.419 |
389.419 |
|
Other reserves |
4.711.884 |
6.894.410 |
5.627.775 |
4.505.611 |
3.117.753 |
|
Total reserves |
5.101.303 |
7.283.829 |
6.017.194 |
4.895.030 |
3.507.172 |
|
Total equity |
5.119.303 |
7.301.829 |
6.035.194 |
4.913.030 |
3.525.172 |
|
Long term interest
yielding debt |
49.496 |
49.496 |
141.884 |
406.874 |
626.834 |
|
Long term liabilities |
49.496 |
49.496 |
141.884 |
406.874 |
626.834 |
|
Accounts payable |
2.107.236 |
2.414.923 |
2.364.199 |
2.565.882 |
2.491.594 |
|
Other short term
liabilities |
2.046.235 |
1.594.066 |
1.249.231 |
2.228.517 |
1.315.958 |
Summary The total assets
of the company decreased with -17.94 % between 2013 and 2014.
This total assets decrease
has been reflected in a reduction of non current assets of -4.34 %.
The asset reduction results
in an equity decrease of -29.89 %. Despite the decrease, the
indebtness increased with
3.56 %.
In 2014 the assets of the
company were 19.23 % composed of fixed assets and 80.77 % by
current assets. The assets
are being financed by an equity of 54.91 %, and total debt of
45.09 %.
The total assets of the
company increased with 16.03 % between 2012 and 2013.
The fixed asset growth of
9.63 % is lower than the total asset growth.
The asset growth has mainly
been financed by a Net Worth increase of 20.99 %. Debt,
however, grew with 8.07 %.
In 2013 the assets of the
company were 16.5 % composed of fixed assets and 83.5 % by
current assets. The assets
are being financed by an equity of 64.27 %, and total debt of
35.73 %.
Profit
and loss
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Gross margin |
8.712.311 |
8.512.818 |
7.120.355 |
7.072.434 |
6.553.299 |
|
Wages and salaries |
3.891.100 |
3.218.597 |
2.613.526 |
2.445.673 |
2.351.778 |
|
Amorization
and depreciation |
711.377 |
645.627 |
680.968 |
650.637 |
604.844 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
other
operating costs |
3.061.528 |
2.898.163 |
2.185.530 |
2.106.751 |
1.669.455 |
|
Operating expenses |
7.664.005 |
6.762.387 |
5.480.024 |
5.203.061 |
4.626.077 |
|
Operating result |
1.048.306 |
1.750.431 |
1.640.331 |
1.869.373 |
1.927.222 |
|
Financial income |
42.666 |
|
|
|
|
|
Financial expenses |
|
55.703 |
160.949 |
16.262 |
57.829 |
|
Financial result |
42.666 |
-55.703 |
-160.949 |
-16.262 |
-57.829 |
|
Result on ordinary
operations before taxes |
1.090.972 |
1.694.728 |
1.479.382 |
1.853.111 |
1.869.393 |
|
Taxation on the
result of ordinary
activities |
273.498 |
428.093 |
357.218 |
465.253 |
478.725 |
|
Result of ordinary
activities after taxes |
817.474 |
1.266.635 |
1.122.164 |
1.387.858 |
1.390.668 |
|
Net result |
817.474 |
1.266.635 |
1.122.164 |
1.387.858 |
1.390.668 |
Summary The gross
profit of the company grew with 2.34 % between 2013 and 2014.
The operating result of the
company declined with -40.11 % between 2013 and 2014. This
evolution implies an decrease
of the company's economic profitability.
The result of these changes
is a reduction of the company's Economic Profitability of -21.58
% of the analysed period,
being equal to 11.7 in the year 2014.
The Net Result of the
company decreased by -35.46 % between 2013 and 2014.
The company's Financial
Profitability has been positively affected by the financial activities in
comparison to the EBITs
behaviour. The result of these variations is a profitability increase of
-8.19 % of the analysed
period, being 21.31 in the year 2014.
The company's financial
profitability has been positively affected by its financial structure.
The gross profit of the
company grew with 19.56 % between 2012 and 2013.
The operating result of the
company grew with 6.71 % between 2012 and 2013. This
evolution implies an
increase of the company's economic profitability.
The result of these changes
is a reduction of the company's Economic Profitability of -1.26 %
of the analysed period,
being equal to 14.92 in the year 2013.
The Net Result of the
company increased by 12.87 % between 2012 and 2013.
The company's Financial
Profitability has been positively affected by the financial activities in
comparison to the EBITs
behaviour. The result of these variations is a profitability increase of
-5.3 % of the analysed
period, being 23.21 in the year 2013.
The company's financial profitability has been
positively affected by its financial structure.
Analysis
Branch (SBI) Manufacture of basic
pharmaceutical products and pharmaceutical preparations (SBI code21)
Region Friesland
Summary In the
Netherlands 351 of the companies are registered with the SBI code 21
In the region Friesland 4 of the companies are
registered with the SBI code 21
In the Netherlands 7 of the
bankrupcties are published within this sector
The risk of this specific
sector in the Netherlands is normal
The risk of this specific sector in the region
Friesland is normal
Publications
Deposits 04-11-2015: De
jaarrekening over 2014 is gepubliceerd.
19-11-2014: De
jaarrekening over 2013 is gepubliceerd.
20-09-2013: De jaarrekening
over 2012 is gepubliceerd.
19-06-2012: De jaarrekening
over 2011 is gepubliceerd.
27-07-2011: De jaarrekening
over 2010 is gepubliceerd.
Functions 02-12-2015: Per
18-11-2015 is gevolmachtigde Dirk-Pieter Weistra in functie getreden.
02-12-2015: Per 18-11-2015 is gevolmachtigde Erik Herman Willibrordus
Engbersen in
functie getreden.
02-12-2015: Per 18-11-2015 is gevolmachtigde Linda van der Wal in
functie getreden.
23-11-2015: Per 30-09-2015 is gevolmachtigde Anneke Corry Offeringa uit
functie getreden.
23-11-2015: Per 01-10-2015 is gevolmachtigde Maarten Christiaan de Boer
uit functie
getreden.
23-11-2015: Per 31-01-2015 is gevolmachtigde Marjan Fetje
Jellesma-Eijgelaar uit functie getreden.
23-11-2015: Per 31-10-2015 is gevolmachtigde Fokje Kramer-de Boer uit
functie getreden.
05-08-2013: Per 02-08-2013 is gevolmachtigde Hilke Berdina Cornelia
Heezen uit functie
getreden.
05-08-2013: Per 02-08-2013 is gevolmachtigde Paula Kuijper-Schuit uit
functie getreden.
05-08-2013: Per 15-07-2013 is gevolmachtigde Cornelis Schepers in
functie getreden.
05-07-2012: Per 01-07-2012 is bestuurder 34072351 Barentz Europe B.V. in
functie
getreden.
16-05-2012: Per 01-05-2012 is gevolmachtigde Jacobus Frederik Boers uit
functie getreden.
Company
structure
Relations 3
Company
Registration number
Vitablend Holding B.V. (WOLVEGA) 01091025
| - - Vitablend International Holding B.V. (WOLVEGA) 01108879
| - - Vitablend Nederland B.V. (Wolvega) 01108877
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
EUR |
1 |
Rs.72.11 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.