MIRA INFORM REPORT

 

 

Report No. :

307865

Report Date :

14.02.2015

           

IDENTIFICATION DETAILS

 

Name :

DIAMINE BVBA

 

 

Registered Office :

Hoveniersstraat 30-Bus 226, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

02.03.2004

 

 

Com. Reg. No.:

863820434

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employee :

2

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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 volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank.

 

Source : CIA

 

Company summary

 

Business number                     863820434

Company name                        DIANINE BVBA

Address                                   HOVENIERSSTRAAT 30-BUS 226, 2018 ANTWERPEN

Number of staff                        2

Date of establishment               02/03/2004

Telephone number                   032060530

Fax number                              032263854

 

 

Commentary

 

The business was established over 10 years ago.

The business has 1 employees.

Number of employees in the latest trading period increased 100% on the previous trading period.

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

Operating Result in the latest trading period decreased 24% on the previous trading period.

Net Worth increased by 149% during the latest trading period.

Pre-tax profits decreased by 105% compared to the previous trading period.

The business saw an increase in their Cash Balance of 198% during the latest trading period.

Turnover in the latest trading period increased 63% on the previous trading period.

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

22,748,632

-4,084

624,554

913,028

31/12/2012

13,920,710

80,833

250,116

338,579

31/12/2011

13,894,725

30,407

228,624

504,496

 

 

 

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

9,115,291

2

438,600

87,509

31/12/2012

7,735,130

1

102,600

45,741

31/12/2011

4,701,651

0

102,600

47,272

 

 

Payment Expectations

 

Past  payments

 

Payment  expectation  days

101.92

Industry  average  payment

124.14

Industry  average  day  sales

140.29

expectation  days

 

outstanding

 

Day  sales  outstanding

110.28

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type PROTESTED BILLS

No

 

 

 

Bill amount

-

 

 

 

NSSO DETAILS

Date of summons

-

 

 

 

 

 

Company information

 

Business  number

863820434

Company  name

DIANINE  BVBA

Fax  number

032263854

Date  founded

02/03/2004

Company  status

active

Company  type

Private  Limited  Company (BL/LX)

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.0863.820.434  Check  VAT number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Joint Industrial Committee (JIC)

 

JIC Code                      218

Description                  Additional national joint committee for the employees

Category

 

JIC Code                      323

Description                  Joint committee for the doorkeepers off appartments

Category

 

Significant Events

Event Date                    12/05/2011

Event Description

Event Details                Op de kapitaalverhoging wordt volledig ingeschreven in geld door : Gandi Dharmesh, Gandhi Ratnesh en Gandhi Ramesh.

 

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

704,874

-6.52

754,003

287

194,381

5.05

185,043

9.71

168,658

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

704,424

-6.52

753,553

288

193,931

5.06

184,593

9.74

168,208

Land  &  building

644,009

-6.98

692,322

496

116,117

-3.24

120,010

-0.44

120,544

Plant  &  machinery

15,768

200

5,247

76.80

2,968

-37.20

4,725

-39.38

7,795

Furniture  &  Vehicles

44,647

-20.25

55,984

-25.20

74,846

25.04

59,857

50.13

39,869

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

450

0

450

0

450

0

450

0

450

Total  current  assets

8,410,417

20.47

6,981,127

54.89

4,507,270

29.55

3,479,076

65.83

2,098,014

Inventories

1,444,618

11.92

1,290,707

38.14

934,342

547

144,322

64.24

87,874

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

1,444,618

11.92

1,290,707

38.14

934,342

-

0

-

0

Other  stocks

0

-

0

-

0

-100

144,322

64.24

87,874

Trade  debtors

6,873,500

21.47

5,658,709

63.97

3,450,985

7.43

3,212,328

66.75

1,926,378

Other  amounts  receivable

9,405

139

3,929

-47.00

7,413

-1.74

7,544

152

2,990

Cash

82,895

198

27,783

-75.74

114,530

-0.31

114,882

42.23

80,772

Miscellaneous  current  assets

0

-

0

-

0

-

0

-

0

Total  Assets

9,115,291

17.84

7,735,130

64.52

4,701,651

28.32

3,664,119

61.65

2,266,672

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

624,554

149

250,116

9.40

228,624

86.87

122,341

23.20

99,302

 

Issued  share  capital

438,600

327

102,600

0

102,600

451

18,600

0

18,600

 

Share  premium  account

-

-

-

-

-

-

-

-

-

 

Revaluation  reserve

-

-

-

-

-

-

-

-

-

 

Reserves

185,954

26.06

147,516

17.05

126,024

21.48

103,741

28.55

80,702

 

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

 

Deffered  taxes

-

-

-

-

-

-

-

-

-

 

Creditors

8,490,737

13.44

7,485,014

67.34

4,473,027

26.29

3,541,778

63.41

2,167,370

 

Other  long  term  loans

993,347

17.91

842,466

79.15

470,253

185

164,751

8.79

151,436

 

Long  term  group  loans

-

-

-

-

-

-

-

-

-

 

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

 

Total  long  term  debts

993,347

17.91

842,466

79.15

470,253

185

164,751

8.79

151,436

 

Current  portion  of  long  term  debt

44,751

0.01

44,745

108

21,448

0.85

21,268

35.85

15,655

 

Financial  debts

1,096,303

2.74

1,067,067

844

113,004

-

-

-

-

 

Trade  creditors

6,310,084

29.10

4,887,853

52.48

3,205,613

24.06

2,583,990

88.30

1,372,277

 

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

31,357

30.39

24,049

108

11,514

-7.24

12,412

-6.46

13,269

 

 Miscellaneous  current  liabilities

14,894

-97.59

618,834

-4.97

651,194

-14.24

759,356

23.53

614,732

Total  current  liabilities

7,497,389

12.87

6,642,548

65.95

4,002,774

18.53

3,377,026

67.52

2,015,934

Total  Liabilities

9,115,291

17.84

7,735,130

64.52

4,701,651

28.32

3,664,119

61.65

2,266,672

 

 

Ratio  Analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-0.02

-103

0.58

163

0.22

-

-

-

-

Return  on  capital  employed

-0.25

-103

7.40

70.11

4.35

-63.60

11.95

42.43

8.39

Return  on  total  assets  employed

-0.04

-103

1.05

61.54

0.65

-30.85

0.94

1.08

0.93

Return  on  net  assets  employed

-0.65

-102

32.32

143

13.30

-52.57

28.04

32.33

21.19

Sales  /  net  working  capital

24.92

-39.40

41.12

49.31

27.54

-

-

-

-

Stock  turnover  ratio

6.35

-31.50

9.27

37.95

6.72

-

-

-

-

Creditor  days

101.92

-21.61

130.01

54.59

84.10

-

-

-

-

Debtor  days

110.28

-25.67

148.37

63.67

90.65

-

-

-

-

 

Short Term Stability

 

 

 

 

 

 

 

 

 

Current  ratio

1.12

6.67

1.05

-7.08

1.13

9.71

1.03

-0.96

1.04

Liquidity  ratio  /  acid  ratio

0.93

8.14

0.86

-3.37

0.89

-10.10

0.99

-1.00

1.00

Current  debt  ratio

12.00

-54.82

26.56

51.68

17.51

-36.56

27.60

35.96

20.30

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

87,509

91.31

45,741

-3.24

47,272

9.64

43,114

29.37

33,327

Net  worth

624,554

149

250,116

9.40

228,624

86.87

122,341

23.20

99,302

Long  Term  Stability

 

 

 

 

 

 

 

 

 

Gearing

341.75

-56.26

781.35

195

264.50

73.96

152.05

-9.64

168.27

Equity  in  percentage

6.85

112

3.23

-33.54

4.86

45.51

3.34

-23.74

4.38

Total  debt  ratio

13.59

-54.59

29.93

52.94

19.57

-32.40

28.95

32.62

21.83

Working  capital

913,028

169

338,579

-32.89

504,496

394

102,050

24.33

82,080

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

22,821,868

63.68

13,942,762

0.21

13,913,244

-

-

-

-

Turnover

22,748,632

63.42

13,920,710

0.19

13,894,725

-

-

-

-

Total  operating  expenses

22,597,722

64.68

13,722,090

-1.37

13,912,040

-

-

-

-

Gross  Operating  Margin

-

-

-

-

-

-

146,882

34.08

109,550

Operating  Charges

22,670,957

64.95

13,744,142

-1.34

13,930,559

-

-

-

-

Employee  costs

77,163

127

33,897

139

14,130

-28.13

19,662

-4.32

20,549

Wages  and  salary

62,242

126

27,468

141

11,351

-29.00

15,987

-12.60

18,293

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

13,023

117

5,999

219

1,877

-39.33

3,094

73.70

1,781

Other  employee  costs

1,898

341

430

-52.38

902

55.47

580

22.02

476

Director  remuneration

55,200

0

55,200

-5.05

58,138

-

-

-

-

Amortization  and  depreciation

49,071

102

24,249

-2.96

24,989

24.48

20,075

12.69

17,814

Operating  result

150,911

-24.02

198,620

1147

-17,315

-117

100,919

50.60

67,009

Total  financial  income

888

-

-

-

95,556

3526

2,635

597

378

Total  financial  expenses

155,882

32.34

117,787

146

47,834

-30.92

69,247

49.43

46,341

Results  on  ordinary  operations  before taxation

-4,084

-105

80,833

165

30,407

-11.37

34,307

63.01

21,046

Extraordinary  Income

97,174

-

-

-

-

-

-

-

-

Extraordinary  Charges

37,397

10.28

33,910

-

-

-

987

-

-

Extraordinary  items

59,776

176

-33,910

-

0

0

-987

-

0

Results  for  the  Year  Before  Taxation

55,693

18.69

46,923

54.32

30,407

-8.75

33,320

58.32

21,046

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

17,254

-32.15

25,431

213

8,124

-20.98

10,281

85.81

5,533

Results  on  ordinary  operations  after taxation

-21,338

-138

55,402

148

22,282

-7.26

24,026

54.88

15,513

Net  result

38,438

78.85

21,492

-3.55

22,282

-3.28

23,039

48.52

15,513

Profit  (Loss)  for  the  Year  to  be appropriated

38,438

78.85

21,492

-3.55

22,282

-3.28

23,039

48.52

15,513

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social balance sheet details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2013

 

Full-time  Employees

2

Part-time  Employees

1

Total  Fte  Employees

2

Number  of  hours  worked

 

Full-time  Employees

2,747

Part-time  Employees

1,208

Total

3,955

Personnel  Charges

 

Full-time  Employees

53,597

Part-time  Employees

23,566

Total

77,163

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

1,521

Personnel  Charges

33,897

Benefits  In  Addition  To  Wages

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration Contracts

1

2

2

 

Gender and Education Level

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

1

-

1

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

2

1

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

1

2

2

 

 

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

1

2

2

Leavers

1

-

1

 

 

INDUSTRY COMPARISON

 

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

 

 

Payment INFORMATION

 

 

Payment Expectations

 

Payment expectations days          101.92

Day sales outstanding                   110.28

 

Industry  comparison

 

 

Activity  code

46761

Activity  description

Wholesale of diamonds and other precious stones

Industry  average  payment expectation days

124.14

Industry average day sales outstanding

140.29

 

 

Industry quartile analysis

 

Payment Expectations

 

 

Company  result

101.92

Lower

122.25

Median

74.61

Upper

45.81

 

Day  Sales  Outstanding

 

 

Company  result

110.28

Lower

102.27

Median

54.08

Upper

24.07

 

 

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

 

SHAREHOLDER NAME

Forename

Dharmesh

Middle  name

-

Surname

Gandhi

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

25/05/2011(estimated)

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Belgiėlei

House  number

7

Minor  town

-

Postal  town

Antwerpen

Post  code

2018

Country

Belgium

 

 

 

 

SHAREHOLDER  NAME

 

 

 

Forename

Ratnesh

Middle  name

-

Surname

Gandhi

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

25/05/2011(estimated)

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Belgiėlei

House  number

7

Minor  town

-

Postal  town

Antwerpen

Post  code

2018

Country

Belgium

 

 

 

 

SHAREHOLDER  NAME

 

 

 

Forename

Ramesh

Middle  name

-

Surname

Gandhi

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

25/05/2011(estimated)

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Belgiėlei

House  number

7

Minor  town

-

Postal  town

Antwerpen

Post  code

2018

Country

Belgium

 

Companies that match this address

No Companies Match this address

 

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

 

Name

DHARMESH  RAMESH  GANDHI

Position

Principal  Manager

Start  Date

01/04/2010

Date  of  birth

02/02/1981

Street

7 BELGIĖLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Name

RATNESH  RAMESH  GANDHI

Position

Principal  Manager

Start  Date

11/08/2010

Date  of  birth

17/01/1982

Street

7 BELGIĖLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Position

Non  Statutory  Partner

Start  Date

02/03/2004

Date  of  birth

17/01/1982

Street

7 BELGIĖLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

FORMER  DIRECTOR  DETAILS

 

 

Name

JAN  LEEMANS

Position

Principal  Manager

Start  Date

11/08/2010

End  Date

31/12/2011

Country

United  Arab  Emirates

 

 

Position

Non  Statutory  Partner

Start  Date

02/03/2004

End  Date

31/05/2010

Country

United Arab Emirates

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.14

UK Pound

1

Rs.95.78

Euro

1

Rs.71.05

 

 

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

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NB

                                       New Business

 

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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.