MIRA
INFORM REPORT
|
Report No. : |
305528 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHOEBY FRANCHISE B.V. |
|
|
|
|
Operative Office : |
Burgemeester Burgerslaan 40A, 5245NH Rosmalen |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
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Date of Incorporation : |
27.06.1995 |
|
|
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Com. Reg. No.: |
16078843 |
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|
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|
Legal Form : |
Private Company |
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|
|
|
Line of Business : |
·
Subject operates as a Fashion Retail
Chain & also operates Franchise
Stores Engaged
as Wholesaler of Textile Products for Women, Men and Kids |
|
|
|
|
No of Employees : |
77 (2014) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
|
With Financials |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
Netherlands is the sixth-largest economy in the
euro-zone and is noted for its stable industrial relations, moderate
unemployment and inflation, sizable trade surplus, and important role as a
European transportation hub. Industrial activity is predominantly in 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 the food-processing industry and for exports. Netherlands,
along with 11 of its EU partners, began circulating the euro currency on 1
January 2002. The Dutch financial sector suffered as a result of the global
financial crisis, due in part to the high exposure of some Dutch banks to US
mortgage-backed securities. In 2008, the government nationalized two banks and
injected billions of dollars of capital into other financial institutions, to
prevent further deterioration of a crucial sector. After 26 years of
uninterrupted economic growth, the Dutch economy - highly dependent on an
international financial sector and international trade - contracted by 3.5% in
2009. To recover, the government sought to boost the domestic economy by
accelerating infrastructure programs, offering corporate tax breaks for
employers to retain workers, and expanding export credit facilities. 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 began implementing
austerity measures in early 2011, mainly reducing expenditures, which resulted
in an improved budget deficit in 2011. However, in 2012 tax revenues dropped,
GDP contracted, and the budget deficit deteriorated. In 2013, the government
budget deficit decreased to 3.3% of GDP due to increased government revenue
from higher taxes. However, spending on social benefits also increased, due to
a rise in unemployment benefits and payments for pensions. The high
unemployment rate and tax increases have contributed to continued decreases in
household disposable income, causing the Dutch economy to contract.
|
Source : CIA |
company Summary
Company name Shoeby Franchise B.V.
Operative address Burgemeester
Burgerslaan 40A
5245NH Rosmalen
Netherlands
Status Active
Specification This
company can meet all its obligations.
Legal form Besloten
Vennootschap (Private Company)
Registration number KvK-nummer:
16078843
VAT-number 803925207
|
Year |
2012 |
Mutation |
2011 |
Mutation |
2010 |
|
Fixed assets |
14.110.352 |
13,85 |
12.394.339 |
124,10 |
5.530.595 |
|
Total receivables |
68.841.120 |
52,78 |
45.058.850 |
189,80 |
15.548.200 |
|
Total equity |
45.500.361 |
21,16 |
37.554.104 |
32,06 |
28.436.706 |
|
Short term liabilities |
29.730.051 |
119,10 |
13.569.449 |
105,56 |
6.601.215 |
|
Net result |
7.946.257 |
-12,85 |
9.117.398 |
-11,78 |
10.334.812 |
|
Working capital |
43.390.009 |
19,34 |
36.359.765 |
58,73 |
22.906.111 |
|
Quick ratio |
2,32 |
-30,33 |
3,33 |
-12,14 |
3,79 |
Contact information
Company name Shoeby
Franchise B.V.
Trade names Shoeby
Franchise B.V.
Operative address Burgemeester
Burgerslaan 40A
5245NH
Rosmalen
Netherlands
Correspondence address Postbus
12
5240AA Rosmalen
Netherlands
Telephone number 0735118019
Fax number 0735113078
Email address info@shoebyfranchise.nl
Website www.shoebyfashion.nl
Registration
Registration number KvK-nummer:
16078843
Branch number 000020074921
VAT-number 803925207
Status Active
First registration
company register 1995-06-30
Memorandum 1995-06-27
Establishment date 1995-06-27
Legal form Besloten
Vennootschap (Private Company)
Last proposed admendment 1999-09-10
Issued placed capital EUR
18.151
Paid up share capital EUR
18.151
Activities
·
Subject operates as a Fashion Retail Chain
& also operates Franchise
Stores
Engaged
as Wholesaler of Textile Products for Women, Men and Kids
Exporter No
Importer No
Goal De
handel in textiel- en aanverwante goederen in een franchiseorganisatie
(Trade in textiles and related goods in a franchise organization)
Relations
Shareholders
Shoeby-Shop Holding B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 160755430000
Percentage: 100%
Bank details
Accounts ING
Bank NV
Account
number: 65.51.87.286
Management
Active Management
Shoeby-Shop Holding B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 160755430000
Competence: Fully authorized
Function: Manager
Starting date: 2000-11-16
J.J. den Arend (Johannes Jan)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2005-01-24
Date of birth: 1961-07-06, Rotterdam, NL
Involved
with the following companies
VDR Holding B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 514500460000
Function: Manager
Lake Side Franchise B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 020401290000
Function: Proxy
Shoeby-Shop B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 160544620000
Function: Proxy
Employees
Total according to the Chamber of Commerce 77
Year 2014
2013 2012 2011 2010
Total 77
77 215 89 130
Payments
Description payments - No Complaints
Key Figures
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Quick ratio |
2,32 |
3,33 |
3,79 |
2,93 |
1,35 |
|
Current ratio |
2,46 |
3,68 |
4,47 |
3,81 |
1,87 |
|
Working capital/ balance total |
0,50 |
0,58 |
0,65 |
0,53 |
0,33 |
|
Equity / balance total |
0,52 |
0,60 |
0,81 |
0,81 |
0,62 |
|
Equity / Fixed assets |
3,22 |
3,03 |
5,14 |
2,94 |
2,10 |
|
Equity / liabilities |
1,09 |
1,52 |
4,31 |
4,25 |
1,66 |
|
Balance total / liabilities |
2,09 |
2,52 |
5,31 |
5,25 |
2,66 |
|
Working capital |
43.390.009 |
36.359.765 |
22.906.111 |
11.945.791 |
5.980.624 |
|
Equity |
45.500.361 |
37.554.104 |
28.436.706 |
18.101.894 |
11.417.464 |
|
Mutation equity |
21,16 |
32,06 |
57,09 |
58,55 |
156,49 |
|
Mutation short term liabilities |
119,10 |
105,56 |
55,13 |
-38,14 |
6,49 |
|
Return on total assets (ROA) |
9,11 |
14,63 |
29,50 |
29,90 |
35,55 |
|
Return on equity (ROE) |
17,46 |
24,28 |
36,34 |
36,93 |
56,97 |
|
Gross margin |
24.417.556 |
26.451.441 |
27.900.595 |
22.700.830 |
18.494.640 |
|
Operating result |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
Net result after taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
Cashflow |
9.127.461 |
10.136.766 |
11.377.331 |
7.635.934 |
7.162.266 |
|
EBIT |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
EBITDA |
9.311.675 |
10.155.728 |
11.504.235 |
7.410.675 |
7.320.475 |
Summary
The 2012 financial result structure is a positive working
capital of 43.390.009 euro, which is in
agreement with 50 % of the total assets of the company.
The working capital has increase with 19.34 % compared to
previous year. The ratio with
respect to the total assets of the company has however,
declined.
The improvement between 2011 and 2012 has mainly been
caused by a current liabilities
reduction.
The current ratio of the company in 2012 was 2.46. A
company with a current ratio between
1.5 and 3.0 generally indicates good short-term financial
strength.
The quick ratio in 2012 of the company was 2.32. A company
with a Quick Ratio of more than
1 can currently pay back its current liabilities.
The 2011 financial result structure is a positive working
capital of 36.359.765 euro, which is in
agreement with 58 % of the total assets of the company.
The working capital has increase with 58.73 % compared to
previous year. The ratio with
respect to the total assets of the company has however,
declined.
The improvement between 2010 and 2011 has mainly been
caused by a current liabilities
reduction.
The current ratio of the company in 2011 was 3.68. If the
current ratio exceeds 3.0, the
company may not be using its current assets or its
short-term financing facilities efficiently .
The quick ratio in 2011 of the company was 3.33. A company
with a Quick Ratio of more than
1 can currently pay back its current liabilities.
Financial statement
Last annual account 2012
Remark annual account The
company is obliged to file its financial statements.
Type of annual account Corporate
Annual account Shoeby
Franchise B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 160788430000
Balance Sheet
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
End date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
2008-12-31 |
|
Intangible fixed assets |
591.021 |
673.724 |
781.303 |
837.719 |
448.482 |
|
Tangible fixed assets |
3.842.789 |
3.039.957 |
3.163.734 |
4.086.204 |
3.998.115 |
|
Financial fixed assets |
9.676.542 |
8.680.658 |
1.585.558 |
1.232.180 |
990.243 |
|
Fixed assets |
14.110.352 |
12.394.339 |
5.530.595 |
6.156.103 |
5.436.840 |
|
Total stock |
4.256.719 |
4.772.270 |
4.509.872 |
3.753.046 |
3.550.967 |
|
Accounts receivable |
11.463.691 |
8.935.286 |
5.812.275 |
5.253.809 |
3.760.451 |
|
Other receivables |
57.377.429 |
36.123.564 |
9.735.925 |
4.720.698 |
2.111.833 |
|
Total receivables |
68.841.120 |
45.058.850 |
15.548.200 |
9.974.507 |
5.872.284 |
|
Liquid funds |
22.221 |
98.094 |
9.449.254 |
2.473.576 |
3.436.300 |
|
Current assets |
73.120.060 |
49.929.214 |
29.507.326 |
16.201.129 |
12.859.551 |
|
Total assets |
87.230.412 |
62.323.553 |
35.037.921 |
22.357.232 |
18.296.391 |
|
Issued capital |
18.151 |
18.151 |
18.151 |
18.151 |
18.151 |
|
Other reserves |
45.482.210 |
37.535.953 |
28.418.555 |
18.083.743 |
11.399.313 |
|
Total reserves |
45.482.210 |
37.535.953 |
28.418.555 |
18.083.743 |
11.399.313 |
|
Total equity |
45.500.361 |
37.554.104 |
28.436.706 |
18.101.894 |
11.417.464 |
|
Long term interest yielding debt |
12.000.000 |
11.200.000 |
|
|
|
|
Long term liabilities |
12.000.000 |
11.200.000 |
|
||
|
Accounts payable |
8.493.859 |
4.208.889 |
4.057.856 |
2.214.573 |
3.411.029 |
|
Other short term liabilities |
21.236.192 |
9.360.560 |
2.543.359 |
2.040.765 |
3.467.898 |
|
Short term liabilities |
29.730.051 |
13.569.449 |
6.601.215 |
4.255.338 |
6.878.927 |
|
Total short and long term liabilities |
41.730.051 |
24.769.449 |
6.601.215 |
4.255.338 |
6.878.927 |
|
Total liabilities |
87.230.412 |
62.323.553 |
35.037.921 |
22.357.232 |
18.296.391 |
Summary
The total assets of the company increased with 39.96 %
between 2011 and 2012.
The fixed asset growth of 13.85 % is lower than the total
asset growth.
The asset growth has mainly been financed by a debt increase
of 68.47 %. The Net Worth,
however, grew with 21.16 %.
In 2012 the assets of the company were 16.18 % composed of
fixed assets and 83.82 % by
current assets. The assets are being financed by an equity
of 52.16 %, and total debt of
47.84 %.
The total assets of the company increased with 77.87 %
between 2010 and 2011.
The total asset increase is retrievable in the fixed asset
growth of 124.1 %.
The asset growth has mainly been financed by a debt
increase of 275.23 %. The Net Worth,
however, grew with 32.06 %.
In 2011 the assets of the company were 19.89 % composed of
fixed assets and 80.11 % by
current asset. The assets are being financed by an equity of 60.26 %, and total debt
of
39.74 %
Profit & Loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Gross margin |
24.417.556 |
26.451.441 |
27.900.595 |
22.700.830 |
18.494.640 |
|
Wages and salaries |
7.652.107 |
7.600.199 |
6.064.617 |
5.430.377 |
5.688.900 |
|
Amorization and depreciation |
1.181.204 |
1.019.368 |
1.042.519 |
951.504 |
658.273 |
|
other operating costs |
7.453.774 |
8.695.514 |
10.331.743 |
9.859.778 |
5.485.265 |
|
Operating expenses |
16.287.085 |
17.315.081 |
17.438.879 |
16.241.659 |
11.832.438 |
|
Operating result |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
Financial income |
|
277.239 |
|
262.733 |
|
|
Financial expenses |
184.214 |
296.201 |
126.904 |
37.474 |
158.209 |
|
Financial result |
-184.214 |
-18.962 |
-126.904 |
225.259 |
-158.209 |
|
Result on ordinary operations before taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
Result of ordinary activities after taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
Net result |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
Summary
The gross profit of the company decreased by -7.69 %
between 2011 and 2012.
The operating result of the company declined with -11.01 %
between 2011 and 2012. 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 -37.73
% of the analysed period, being equal to 2011 % in the
year 2012.
The Net Result of the company increased by -12.85 %
between 2011 and 2012.
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
-28.09 % of the analysed period, being 17.46 % in the year
2012.
The company's financial profitability has been positively
affected by its financial structure.
The gross profit of the company decreased by -5.19 %
between 2010 and 2011.
The operating result of the company declined with -12.67 %
between 2010 and 2011. 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 -50.41
% of the analysed period, being equal to 2010 % in the
year 2011.
The Net Result of the company increased by -11.78 %
between 2010 and 2011.
The company's Financial Profitability has been negatively
affected by the financial activities in
comparison to the EBITs behaviour. The result of these
variations is a profitability reduction
of -33.19 % of the analysed period, being 24.28 % in the
year 2011.
The company's financial profitability has been positively
affected by its financial structure.
Analysis
Branch (SBI)
Wholesale trade (no motor vehicles and motorcycles) (46)
Region
Midden-Brabant
In the Netherlands 109662 of the companies are registered
with the SBI code 46
In the region Midden-Brabant 5737 of the companies are
registered with the SBI code 46
In the Netherlands 2387 of the bankrupcties are published
within this sector
In the region Midden-Brabant 108 of the bankruptcies 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
Midden-Brabant is normal
Publications
Filings
08-01-2014: De jaarrekening over 2012 is gepubliceerd.
16-01-2013: De jaarrekening over 2011 is gepubliceerd.
05-10-2011: De jaarrekening over 2010 is gepubliceerd.
07-12-2010: De jaarrekening over 2009 is gepubliceerd.
12-02-2010: De jaarrekening over 2008 is gepubliceerd.
Mergers
10-07-2014: Op 01-07-2014 splitsingsakte (afsplitsing)
verleden. Splitsende rechtspersoon:
Shoeby Franchise B.V., 16078843 Verkrijgende
rechtspersoon: VDR Fashion Group B.V.,
61051829.
28-05-2014: Splitsingsvoorstel: Op 27-05-2014 voorstel tot
afsplitsing gedeponeerd.
Splitsende rechtspersoon: Shoeby Franchise B.V., 16078843
Verkrijgende rechtspersoon:
nieuw op te richten Besloten Vennootschap: vdr fASHION Group
B.V..
Company structure
Relations 13
VDR Holding B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 514500460000
Shoeby Retail Partners B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 341343510000
Shoeby-Shop Holding B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 160755430000
Shoeby Franchise B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 160788430000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
UK Pound |
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.