MIRA INFORM REPORT

 

 

Report No. :

308206

Report Date :

14.02.2015

 

 

IDENTIFICATION DETAILS

 

Name :

FORMANI HOLLAND B.V.

 

 

Registered Office :

Amerikalaan 55 6199AE Maastricht-Airport

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

11.10.1989

 

 

Com. Reg. No.:

KvK-nummer: 14627479

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale of hardware (ironware and metal products).

 

 

No. of Employee :

16

 

 

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 :

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 reducting 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 name and address

 

Company name                        FORMANI HOLLAND B.V.

Operative address                    Amerikalaan 55

6199AE Maastricht-Airport

Netherlands

 

 

Summary

 

Legal form                    Private Company

Registration number      KvK-nummer: 14627479

VAT-number                  803905555

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

236.460

-12,32

269.685

-2,67

277.079

Total receivables

706.421

-1,52

717.303

-4,86

753.932

Total equity

1.247.755

7,69

1.158.654

6,44

1.088.562

Short term liabilities

1.648.701

-5,25

1.739.999

15,09

1.511.901

Working capital

1.011.295

13,74

889.165

9,42

812.650

Quick ratio

0,43

4,88

0,41

-18,00

0,50

 

 

 

 

Contact information

 

Company name                        Formani Holland B.V.

 

Trade names                            Formani Holland B.V.

 

Operative address                    Amerikalaan 55

6199AE Maastricht-Airport

Netherlands

 

Correspondence address         Amerikalaan 55

6199AE Maastricht-Airport

Netherlands

 

Telephone number                   043 3089000

 

Fax number                              043 3648828

 

Email address                          info@formani.nl

 

Website                                    www.formani.net

 

 

Registration

 

Registration number                            KvK-nummer: 14627479

Registered in                                        Kamer van Koophandel Limburg

Branch number                                    000019868227

VAT-number                                         803905555

 

Status                                                  Active

First registration company register      1995-04-13

Memorandum                                       1995-03-27

Establishment date                              1989-10-11

 

Legal form                                           Private Company

Last proposed admendment                 1998-07-20

 

Subscribed share capital                      EUR 49.916

Issued placed capital                           EUR 19.168

Paid up share capital                           EUR 19.168

 

 

Activities

 

SBI                               Wholesale of hardware (ironware and metal products) (46741)

Exporter                       Yes

Importer                       Yes

Goal                             De im- en export van en de (groot)handel in hang- en sluitwerk en andere interieuraccessoires.

 

Relations

 

Shareholders                           Formani Holding B.V.

Amerikalaan 55

6199AE MAASTRICHT-AIRPORT

Netherlands

Registration number: 140582690000

Percentage: 100%

 

Branches                                  Formani Holland BV

Kapoenstraat 20

6211KW MAASTRICHT

Netherlands

Registration number: 146274790002

 

Companies on same address   Formani Holding B.V.

Registration number: 140582690000

 

Anzi Sinolink Europe B.V.

Registration number: 530374560000

 

 

Management

 

Active management                  Formani Holding B.V.

Amerikalaan 55

6199AE MAASTRICHT-AIRPORT

Netherlands

Registration number: 140582690000

Competence: Fully authorized

Function: Manager

Starting date: 2007-10-04

 

 

Employees

 

Year

2014

2013

2012

2011

2010

Total

16

17

16

16

16

 

 

 

 

Payments

 

Description                  The payments are regular

 

 

Key figures

 

Year

2013

2012

2011

2010

2009

Quick ratio

0,43

0,41

0,50

0,47

0,43

Current ratio

1,61

1,51

1,54

1,56

1,47

Working capital/ balance total

0,35

0,31

0,31

0,32

0,28

Equity / balance total

0,43

0,40

0,42

0,43

0,40

Equity / Fixed assets

5,28

4,30

3,93

3,88

3,33

Equity / liabilities

0,76

0,67

0,72

0,75

0,66

Balance total / liabilities

1,76

1,67

1,72

1,75

1,66

Working capital

1.011.295

889.165

812.650

734.676

615.055

Equity

1.247.755

1.158.654

1.088.562

985.524

871.918

Mutation equity

7,69

6,44

10,46

13,03

4,22

Mutation short term liabilities

-5,25

15,09

15,65

-1,09

-10,35

 

Summary                                 The 2013 financial result structure is a postive working captial of 1.011.295 euro, which is in agreement with 35 % of the total assets of the company.

The working capital has increased with 13.74 % 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 1.61. 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 0.43. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2012 financial result structure is a postive working captial of 889.165 euro, which is in agreement with 31 % of the total assets of the company.

The working capital has increased with 9.42 % compared to previous year. The ratio with respect to the total assets of the company remains unchanged.

The improvement between 2011 and 2012 has mainly been caused by a current liabilities reduction.

The current ratio of the company in 2012 was 1.51. 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 0.41. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

 

 

 

 

Financial statement

 

Last annual account                             2013

Remark annual account                        The company is obliged to file its financial statements.

 

Type of annual account                        Corporate

 

Annual account                                    Formani Holland B.V.

Amerikalaan 55

6199AE Maastricht-Airport

Netherlands

Registration number: 146274790000

 

 

Balance

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Intangible fixed assets

29.670

34.407

24.463

21.717

39.446

Tangible fixed assets

206.790

235.278

252.616

232.285

222.224

Fixed assets

236.460

269.685

277.079

254.002

261.670

Total stock

1.953.335

1.911.711

1.568.365

1.428.293

1.372.601

Total receivables

706.421

717.303

753.932

602.168

547.576

Liquid funds

240

150

2.254

11.513

16.576

Current assets

2.659.996

2.629.164

2.324.551

2.041.974

1.936.753

Total assets

2.896.456

2.898.849

2.601.630

2.295.976

2.198.423

Issued capital

19.168

19.168

19.168

19.168

19.168

Legal and statutory reserve

29.670

34.407

24.463

21.717

39.446

Other reserves

1.198.917

1.105.079

1.044.931

944.639

813.304

Total reserves

1.228.587

1.139.486

1.069.394

966.356

852.750

Total equity

1.247.755

1.158.654

1.088.562

985.524

871.918

Provisions

 

196

1.167

3.154

4.807

Short term liabilities

1.648.701

1.739.999

1.511.901

1.307.298

1.321.698

Total short and long term liabilities

1.648.701

1.740.195

1.513.068

1.310.452

1.326.505

Total liabilities

2.896.456

2.898.849

2.601.630

2.295.976

2.198.423

 

 

Summary                                 The total assets remained the same between 2012 and 2013.

Despite the fact that the total assets remained the same, the fixed assets decreased with -12.32 %.

Despite thee unchanged assets the net worth grew with 7.69 %, which has resulted in the fact that the company's indebtedness declined with -5.26 %.

In 2013 the assets of the company were 8.16 % composed of fixed assets and 91.84 % by current assets. The assets are being financed by an equity of 43.08 %, and total debt of 56.92 %.

The total assets of the company increased with 11.42 % between 2011 and 2012.

Despite the assets growth, the non current assets decreased with -2.67 %.

The asset growth has mainly been financed by a debt increase of 15.01 %. The Net Worth, however, grew with 6.44 %.

In 2012 the assets of the company were 9.3 % composed of fixed assets and 90.7 % by current assets. The assets are being financed by an equity of 39.97 %, and total debt of 60.03 %.

 

 

 

 

 

 

Analysis

 

Branch (SBI)                 Wholesale trade (no motor vehicles and motorcycles) (46)

Region                         Limburg

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Limburg 5542 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 Limburg 125 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 Limburg is normal

 

 

Publications

 

Filings                                     26-05-2014: De jaarrekening over 2013 is gepubliceerd.

26-04-2013: De jaarrekening over 2012 is gepubliceerd.

20-04-2012: De jaarrekening over 2011 is gepubliceerd.

15-04-2011: De jaarrekening over 2010 is gepubliceerd.

14-04-2010: De jaarrekening over 2009 is gepubliceerd.

 

 

Company structure

 

Relations                                  3

 

Pim Aarts Holding B.V.

Helmstraat 5c 02

6211TA MAASTRICHT

Netherlands

Registration number: 140967260000

• Formani Holding B.V.

Amerikalaan 55

6199AE MAASTRICHT-AIRPORT

Netherlands

Registration number: 140582690000

• Formani Holland B.V.

Amerikalaan 55

6199AE Maastricht-Airport

Netherlands

Registration number: 146274790000

 

 

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 :

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.