MIRA INFORM REPORT

 

 

Report No. :

356870

Report Date :

26.12.2015

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL TEX BVBA

 

 

Registered Office :

Stijn Streuvelsstraat 99, 8790 Waregem

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

26.10.2007

 

 

Com. Reg. No.:

893201932

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Manufacture of Cordage, Rope, Twine and Netting.

 

 

No. of Employees :

Not Available

 

 

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 :

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 summary

 

Business number                     893201932

Branche Unit Number               2166756504

Company name                        GLOBALTEX BVBA

Address                                   STIJN STREUVELSSTRAAT 99, 8790 WAREGEM

Number of staff                        0

Date of establishment   26/10/2007

Telephone number                   056282727

Fax number                              056282726

 

 

Commentary

 

The business was established over 7 years ago.

No employees are recorded for this business.

The business has been at the address for over 7 years.

Operating Result in the latest trading period decreased 33% on the previous trading period.

Pre-tax profits decreased by 65% compared to the previous trading period.

The business saw an increase in their Cash Balance of 63% during the latest trading period.

Turnover in the latest trading period increased 22% on the previous trading period.

 

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

43,320,796

298,661

2,359,443

2,225,200

31/12/2012

35,475,868

870,552

2,145,552

2,007,640

31/12/2011

30,416,439

402,169

1,558,916

1,214,035

 

 

 

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

11,589,380

0

50,000

220,499

31/12/2012

11,275,866

0

50,000

592,442

31/12/2011

9,640,621

0

50,000

282,632

 

 

Payment expectations

 

Past payments

 

Payment expectation days

15.36

 

Industry average payment expectation days

50.49

Industry average day sales outstanding

76.84

 

Day sales outstanding

65.49

 

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

 

Court action type

no

 

 

 

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

--

 

 

 

 

 

Company information

 

Business  number

893201932

Company  name

GLOBALTEX  BVBA

Fax  number

056282726

Date  founded

26/10/2007

Company  status

active

Company  type

Private  Limited  Company (BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

13940

Liable  for  VAT

Yes

Activity  description

Manufacture  of  cordage, rope,  twine  and  netting

VAT  Number

BE.0893.201.932  Check  VAT number

 

 

 

 

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Company accounts

 

ASSETS

 

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

134,243

-2.66

137,912

-60.01

344,882

32.36

260,561

1.03

257,893

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

6,307

-24.92

8,400

-28.47

11,744

96.19

5,986

-33.27

8,971

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

-

-

-

-

-

-

-

-

-

Furniture  &  Vehicles

6,307

-24.92

8,400

-28.47

11,744

96.19

5,986

-33.27

8,971

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

127,936

-1.22

129,512

-61.12

333,138

30.86

254,575

2.27

248,922

Total  current  assets

11,455,137

2.85

11,137,954

19.82

9,295,739

-7.07

10,002,757

77.32

5,640,932

Inventories

1,956,721

10.54

1,770,186

106

859,178

-40.06

1,433,400

270

386,556

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

1,956,721

10.54

1,770,186

106

859,178

-40.06

1,433,400

270

386,556

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

7,773,277

-6.80

8,340,498

11.85

7,456,925

-3.45

7,723,150

72.01

4,490,048

Other  amounts  receivable

259,627

96.64

132,032

10.38

119,615

84.41

64,863

83.68

35,313

Cash

1,448,249

63.62

885,114

3.81

852,610

9.95

775,429

6.69

726,839

Miscellaneous  current  assets

17,262

70.51

10,124

36.61

7,411

25.29

5,915

171

2,176

Total  Assets

11,589,380

2.78

11,275,866

16.96

9,640,621

-6.07

10,263,319

73.99

5,898,825

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

2,359,443

9.97

2,145,552

37.63

1,558,916

21.61

1,281,950

167

478,362

Issued  share  capital

50,000

0

50,000

0

50,000

0

50,000

0

50,000

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

2,309,443

10.21

2,095,552

38.88

1,508,916

22.48

1,231,950

187

428,362

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

9,229,937

1.09

9,130,314

12.98

8,081,704

-10.02

8,981,369

65.69

5,420,463

Other  long  term  loans

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

Financial  debts

7,412,350

-9.37

8,178,926

32.09

6,192,080

-17.97

7,548,101

95.24

3,866,033

Trade  creditors

1,798,409

96.98

912,972

-32.35

1,349,559

40.14

962,990

-25.80

1,297,908

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

-

-

-

-

-

-

-

-

-

Miscellaneous  current  liabilities

19,179

-50.08

38,416

-92.89

540,065

14.84

470,279

83.33

256,522

Total  current  liabilities

9,229,937

1.09

9,130,314

12.98

8,081,704

-10.02

8,981,369

65.69

5,420,463

Total  Liabilities

11,589,380

2.78

11,275,866

16.96

9,640,621

-6.07

10,263,319

73.99

5,898,825

 

 

RATIO  ANALYSIS

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.69

-71.84

2.45

85.61

1.32

-65.98

3.88

20.87

3.21

Return  on  capital  employed

12.66

-68.79

40.57

57.25

25.80

-72.74

94.66

-0.65

95.28

Return  on  total  assets  employed

2.58

-66.58

7.72

85.13

4.17

-64.72

11.82

52.91

7.73

Return  on  net  assets  employed

12.66

-68.79

40.57

57.25

25.80

-72.74

94.66

-0.65

95.28

Sales  /  net  working  capital

19.47

10.19

17.67

-29.46

25.05

-18.16

30.61

-52.48

64.42

Stock  turnover  ratio

4.52

-9.42

4.99

76.95

2.82

-38.56

4.59

68.75

2.72

Creditor  days

15.36

59.34

9.64

-42.17

16.67

42.84

11.67

-66.62

34.96

Debtor  days

65.49

-23.68

85.81

-4.10

89.48

-0.77

90.17

-21.85

115.38

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.24

1.64

1.22

6.09

1.15

3.60

1.11

6.73

1.04

Liquidity  ratio  /  acid  ratio

1.03

0

1.03

-0.96

1.04

9.47

0.95

-2.06

0.97

Current  debt  ratio

3.91

-8.22

4.26

-17.76

5.18

-26.11

7.01

-38.13

11.33

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

220,499

-62.78

592,442

109

282,632

-64.96

806,573

164

304,901

Net  worth

2,359,443

9.97

2,145,552

37.63

1,558,916

21.61

1,281,950

167

478,362

LONG TERM STABILITY

 

 

 

 

 

 

 

 

 

Gearing

314.16

-17.59

381.20

-4.03

397.20

-32.54

588.80

-27.14

808.18

Equity  in  percentage

20.36

6.99

19.03

17.69

16.17

29.46

12.49

54.01

8.11

Total  debt  ratio

3.91

-8.22

4.26

-17.76

5.18

-26.11

7.01

-38.13

11.33

Working  capital

2,225,200

10.84

2,007,640

65.37

1,214,035

18.86

1,021,388

363

220,469

 

 

PROFIT  &  LOSS

 

Operating  Income

43,417,145

22.35

35,487,387

16.46

30,472,043

-2.53

31,262,264

119

14,224,187

Turnover

43,320,796

22.11

35,475,868

16.63

30,416,439

-2.71

31,262,264

120

14,203,559

Total  operating  expenses

42,726,497

23.55

34,583,308

17.04

29,547,654

-1.92

30,126,046

122

13,551,031

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

42,822,846

23.78

34,594,826

16.86

29,603,258

-1.74

30,126,046

121

13,571,659

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

6,608

13.80

5,807

2.51

5,665

89.78

2,985

12.47

2,654

Operating  result

594,299

-33.42

892,561

2.74

868,785

-23.54

1,136,218

74.13

652,528

Total  financial  income

1,292,489

-45.36

2,365,489

50.89

1,567,731

-21.58

1,999,251

153

788,863

Total  financial  expenses

1,588,126

-33.48

2,387,498

17.36

2,034,347

5.85

1,921,971

95.01

985,592

Results  on  ordinary  operations before  taxation

298,661

-65.69

870,552

116

402,169

-66.86

1,213,498

166

455,799

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

298,661

-65.69

870,552

116

402,169

-66.86

1,213,498

166

455,799

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

84,770

-70.14

283,917

126

125,202

-69.46

409,910

166

153,552

Results  on  ordinary  operations  after taxation

213,891

-63.54

586,635

111

276,967

-65.53

803,588

165

302,247

Net  result

213,891

-63.54

586,635

111

276,967

-65.53

803,588

165

302,247

Profit  (loss)  for  the  year  to  be appropiated

213,891

-63.54

586,635

111

276,967

-65.53

803,588

165

302,247

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry comparison

 

Activity code

13940

Activity description

Manufacture of cordage, rope, twine and netting

 

 

Payment expectations

 

Payment expectation days

15.36

Da sales outstanding

65.49

 

Industry comparison

 

Activity code

13940

Activity description

Manufacture of cordage, rope, twine and netting

Industry average payment expectation days

50.49

Industry average day sales outstanding

76.84

 

Industry quartile analysis

 

Payment expectations

 

Company result

15.36

Lower

96.78

Median

65.49

Upper

53.55

 

 

Day sales outstanding

 

Company result

65.49

Lower

73.87

Median

34.95

Upper

15.36

 

 

Shareholder details

 

Group Structure

No group structure for this company.

 

Minority Shareholders

 

Business Number

 

Company  name

%

Date  of

438363289

MDM  NV

40

30/06/2014

894762543

Damelo  BVBA

40

31/12/2013

438363289

MDM  NV

40

30/06/2014

438363289

MDM  NV

40

30/06/2014

438363289

MDM  NV

40

30/06/2014

438363289

MDM  NV

40

30/06/2014

438363289

MDM  NV

40

30/06/2014

438363289

MDM  NV

40

30/06/2014

816919350

Geleen  BVBA

20

30/09/2014

 

Minority Interests

 

Business Number

 

Company  name

%

Date  of

896587628

East  Invest  BVBA

15

31/12/2013

896587628

East  Invest  BVBA

15

31/12/2013

896587628

East  Invest  BVBA

15

31/12/2013

896587628

East  Invest  BVBA

15

31/12/2013

896587628

East  Invest  BVBA

15

31/12/2013

896587628

East  Invest  BVBA

15

31/12/2013

896587628

East  Invest  BVBA

15

31/12/2013

896587628

East  Invest  BVBA

15

31/12/2013

896587628

East  Invest  BVBA

15

31/12/2013

 

Protested Bills

There is no data for this company

 

Summons

There is no data for this company

 

Bankruptcy and other legal events

There is no data for this company

 

Companies that match this address

No companies match this address

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Name

GELEEN  BVBA

Position

Principal  Manager

Start  Date

15/06/2012

Date  of  birth

10/05/2009

Street

41 TIENBUNDER  WAREGEM

Post  code

8792

Country

Belgium

 

 

Position

Legal  Representative

Start  Date

15/06/2012

Date  of  birth

10/05/2009

Street

41 TIENBUNDER  WAREGEM

Post  code

8792

Country

Belgium

 

 

Name

DAMELO  BVBA

Position

Principal  Manager

Start  Date

15/06/2012

Date  of  birth

07/01/2008

Street

97 INDUSTRIELAAN  WAREGEM

Post  code

8790

Country

Belgium

 

 

Position

Legal  Representative

Start  Date

15/06/2012

Date  of  birth

07/01/2008

Street

97 INDUSTRIELAAN  WAREGEM

Post  code

8790

Country

Belgium

 

 

Name

MDM  NV

Position

Principal  Manager

Start  Date

26/07/2011

Date  of  birth

29/09/1989

Street

190 HENRI  LEBBESTRAAT  WAREGEM

Post  code

8790

Country

Belgium

 

 

Position

Legal  Representative

Start  Date

26/10/2007

Date  of  birth

29/09/1989

Street

190 HENRI  LEBBESTRAAT  WAREGEM

Post  code

8790

Country

Belgium

 

 

Position

Non  Statutory  Partner

Start  Date

26/10/2007

Date  of  birth

29/09/1989

Street

190 HENRI  LEBBESTRAAT  WAREGEM

Post  code

8790

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.20

UK Pound

1

Rs.98.30

Euro

1

Rs.72.41

EUR

1

Rs.72.55

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.