MIRA
INFORM REPORT
|
Report No. : |
308559 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
QUBICO BVBA |
|
|
|
|
Registered Office : |
Ruitersdreef 7, B - 9090 Melle |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.11.2006 |
|
|
|
|
Com. Reg. No.: |
885443417 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is
specializes in Carbon Steel, Steel Profiles, Stainless Steel and Special
Steel Products. Subject product ranges includes :- ·
Long
Products Flat Products Wire Products Complementary Products Special Products Tubular Products Stainless Steel Products |
|
|
|
|
No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 885443417
Branche Unit Number 2158179328
Company name QUBICO BVBA
Address RUITERSDREEF 7
B - 9090 MELLE
Number of staff 0
Date of establishment 17/11/2006
Telephone number +32 (0)9 329 32 04
Fax number +32
(0)9 329 88 09
E-mail: info@qubico.be
Commentary
The business was established over 8 years ago. 
No employees are recorded for this business. 
The business has been at the address for over 5 months.
The business has been at the address for less than 6 months.
The business has changed address 1 times in the last year.
Operating Result in the latest trading period increased 673% on the
previous trading period.
Net Worth increased by 70% during the latest
trading period. 
A 24% growth in Total Assets occurred during
the latest trading period.
Pre-tax profits increased by 189% compared
to the previous trading period.
Accounts
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2013 |
--- |
263,655 |
422,468 |
746,131 |
|
31/12/2012 |
---- |
91,029 |
247,197 |
467,388 |
|
31/12/2011 |
6,107,216 |
70,094 |
187,190 |
320,062 |
Accounts
|
DATE OF LATEST
ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
7,555,378 |
0 |
18,600 |
181,474 |
|
31/12/2012 |
6,088,619 |
0 |
18,600 |
65,905 |
|
31/12/2011 |
3,351,119 |
0 |
18,600 |
56,843 |
Payment expectations
Industry average payment expectation days 72.53
Industry average day sales outstanding 346.87
Day sales outstanding ----
Company information
Business number 885443417
Company name QUBICO BVBA
Date founded 17/11/2006
Company status active
Company type Private Limited
Company (BL/LX)
Currency Euro (€)
Date of latest accounts 31/12/2013
Liable for VAT yes
VAT Number BE.0885.443.417
Belgian Bullettin of Acts
Publications moniteur belge
Activity description Subject is specializes in Carbon Steel,
Steel Profiles, Stainless Steel and Special
Steel Products.
Product details
·
Long
Products
Flat Products
Wire Products
Complementary Products
Special Products
Tubular Products
Stainless Steel Products
Joint Industrial Committee
(JIC)
JIC Code 218
Description Additional
national joint committee for the employees
category
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 |
6,337 |
-35.40 |
9,809 |
-94.69 |
184,842 |
31.62 |
140,434 |
420 |
27,000 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
-100 |
215 |
-54.55 |
473 |
|
Tangible fixed assets |
6,187 |
-36.80 |
9,789 |
-94.70 |
184,777 |
31.84 |
140,154 |
428 |
26,527 |
|
Land & building |
- |
- |
- |
- |
172,318 |
42.56 |
120,875 |
- |
- |
|
Plant & machinery |
- |
- |
- |
- |
100 |
-50.25 |
201 |
-33.44 |
302 |
|
Furniture & Vehicles |
6,187 |
-36.80 |
9,789 |
-18.77 |
12,051 |
-34.73 |
18,462 |
-27.03 |
25,301 |
|
Other tangible assets |
0 |
- |
0 |
-100 |
308 |
-50.0 |
616 |
-33.33 |
924 |
|
Financial fixed assets |
150 |
650 |
20 |
-69.23 |
65 |
0 |
65 |
- |
- |
|
Total current assets |
7,549,041 |
24.19 |
6,078,810 |
91.99 |
3,166,277 |
227 |
967,818 |
32.44 |
730,748 |
|
Inventories |
- |
- |
- |
- |
21,650 |
124 |
9,650 |
- |
- |
|
Other stocks |
0 |
- |
0 |
-100 |
21,650 |
124 |
9,650 |
- |
0 |
|
Trade debtors |
7,276,922 |
27.51 |
5,706,990 |
89.04 |
3,018,969 |
275 |
804,255 |
64.07 |
490,198 |
|
Other amounts receivable |
58,142 |
-67.96 |
181,491 |
2063 |
8,388 |
-19.79 |
10,457 |
-14.03 |
12,163 |
|
Cash |
212,907 |
12.61 |
189,062 |
135 |
80,156 |
-21.43 |
102,016 |
-54.60 |
224,707 |
|
Miscellaneous current assets |
1,070 |
-15.55 |
1,267 |
-96.59 |
37,114 |
-10.44 |
41,440 |
1026 |
3,680 |
|
Total Assets |
7,555,378 |
24.09 |
6,088,619 |
81.69 |
3,351,119 |
202 |
1,108,252 |
46.26 |
757,748 |
Liabilities
|
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 shareholders equity |
422,468 |
70.90 |
247,197 |
32.06 |
187,190 |
33.68 |
140,029 |
79.35 |
78,077 |
|
Issued share capital |
18,600 |
0 |
18,600 |
0 |
18,600 |
0 |
18,600 |
0 |
18,600 |
|
Reserves |
403,868 |
76.67 |
228,597 |
35.59 |
168,590 |
38.84 |
121,429 |
104 |
59,477 |
|
Creditors |
7,132,910 |
22.11 |
5,841,422 |
84.63 |
3,163,929 |
226 |
968,223 |
42.45 |
679,671 |
|
Other long term loans |
330,000 |
43.48 |
230,000 |
-27.61 |
317,714 |
142 |
130,863 |
42.45 |
679,671 |
|
Total long term debts |
330,000 |
43.48 |
230,000 |
-27.61 |
317,714 |
142 |
130,863 |
42.45 |
679,671 |
|
Current portion of long term debt |
--- |
---- |
--- |
--- |
13,149 |
-63.04 |
35,572 |
36.56 |
26,048 |
|
Financial debts |
6,455,948 |
30.82 |
4,934,833 |
95.21 |
2,527,901 |
358 |
551,147 |
-9.26 |
607,409 |
|
Trade creditors |
163,359 |
-70.24 |
548,962 |
85.25 |
296,343 |
32.92 |
222,944 |
9251 |
2,384 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
3 |
--- |
--- |
--- |
3,456 |
154 |
1,356 |
82.01 |
745 |
|
Miscellaneous current liabilities |
183,600 |
43.86 |
127,627 |
2278 |
5,366 |
-79.63 |
26,341 |
-6.17 |
28,073 |
|
Total current liabilities |
6,802,910 |
21.23 |
5,611,422 |
97.15 |
2,846,215 |
239 |
837,360 |
25.98 |
664,659 |
|
Total Liabilities |
7,555,378 |
24.09 |
6,088,619 |
81.69 |
3,351,119 |
202 |
1,108,252 |
46.26 |
757,748 |
ratio analysis
|
|
31.12.2013 |
% |
31.12.2012 |
% |
31.12.2011 |
% |
31.12.2010 |
% |
31.12.2009 |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit Before Tax |
---- |
---- |
---- |
---- |
1.15 |
--- |
--- |
--- |
--- |
|
Return on capital employed |
35.04 |
83.65 |
19.08 |
37.46 |
13.88 |
-59.32 |
34.12 |
42.17 |
24.00 |
|
Return on total assets employed |
3.49 |
132 |
1.50 |
-28.23 |
2.09 |
-74.94 |
8.34 |
182 |
2.95 |
|
Return on net assets employed |
62.41 |
69.50 |
36.82 |
-1.68 |
37.45 |
-43.26 |
66.00 |
130 |
28.61 |
|
Sales / net working capital |
---- |
---- |
---- |
---- |
19.08 |
--- |
--- |
--- |
--- |
|
Stock turnover ratio |
---- |
---- |
---- |
---- |
0.35 |
--- |
--- |
--- |
--- |
|
Creditor
days |
---- |
---- |
---- |
---- |
18.12 |
--- |
--- |
--- |
--- |
|
Debtor
days |
---- |
---- |
---- |
---- |
180.43 |
--- |
--- |
--- |
--- |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current
ratio |
1.11 |
2.78 |
1.08 |
-2.70 |
1.11 |
-4.31 |
1.16 |
5.45 |
1.10 |
|
Liquidity
ratio / acid ratio |
1.11 |
2.78 |
1.08 |
-1.82 |
1.10 |
-3.51 |
1.14 |
3.64 |
1.10 |
|
Current
debt ratio |
16.10 |
-29.07 |
22.70 |
49.34 |
15.20 |
154 |
5.98 |
-29.73 |
8.51 |
|
Cashflow |
181,474 |
175 |
65,905 |
15.94 |
56,843 |
-20.44 |
71,449 |
193 |
24,374 |
|
Net worth |
422,468 |
70.90 |
247,197 |
32.06 |
187,190 |
33.89 |
139,814 |
80.16 |
77,604 |
|
Long term Stability |
|
|
|
|
|
|
|
|
|
|
Gearing |
1,606.26 |
-23.12 |
2,089.36 |
36.81 |
1,527.20 |
198 |
512.45 |
-38.30 |
830.55 |
|
Equity in percentage |
5.59 |
37.68 |
4.06 |
-27.37 |
5.59 |
-55.78 |
12.64 |
22.60 |
10.31 |
|
Total debt ratio |
16.88 |
-28.57 |
23.63 |
39.82 |
16.90 |
144 |
6.91 |
-20.67 |
8.71 |
|
Working capital |
746,131 |
59.64 |
467,388 |
46.03 |
320,062 |
145 |
130,458 |
97.40 |
66,089 |
Profit
& loss
|
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 |
|
Turnover |
--- |
---- |
---- |
---- |
6,107,216 |
---- |
---- |
---- |
---- |
|
Total
operating expenses |
--- |
---- |
---- |
---- |
5,969,513 |
---- |
---- |
---- |
---- |
|
Gross
Operating Margin |
521,130 |
616 |
72,742 |
-52.01 |
151,592 |
-22.46 |
195,514 |
114 |
91061 |
|
Employee
costs |
13,379 |
--- |
--- |
--- |
---- |
--- |
--- |
--- |
--- |
|
Wages
and salary |
12,678 |
--- |
--- |
--- |
--- |
---- |
---- |
---- |
---- |
|
Social
security contributions |
|
701 |
---- |
---- |
--- |
---- |
--- |
--- |
--- |
|
Amortization
and depreciation |
6203 |
5.17 |
5898 |
--39.08 |
9,682 |
1.95 |
9,497 |
-6.06 |
10,110 |
|
Operating
result |
495,897 |
673 |
64,122 |
-53.43 |
137,703 |
-24.70 |
182,879 |
158 |
70,853 |
|
Total
financial income |
118,804 |
-64.96 |
339,070 |
92.81 |
175,853 |
-0.07 |
175,971 |
608 |
24,848 |
|
Total
financial expenses |
351,046 |
12.46 |
312,163 |
28.22 |
243,462 |
-8.62 |
266,430 |
263 |
73,363 |
|
Results
on ordinary operations before taxation |
263,655 |
189 |
91,029 |
29.87 |
70,094 |
-24.16 |
92,420 |
313 |
22,338 |
|
Extraordinary
Income |
---- |
---- |
2,612 |
---- |
---- |
---- |
--- |
---- |
---- |
|
Extraordinary
Charges |
---- |
---- |
383 |
---- |
---- |
---- |
121 |
---- |
---- |
|
Extraordinary
items |
0 |
-100 |
2,229 |
---- |
0 |
0 |
-121 |
---- |
0 |
|
Results
for the Year Before Taxation |
263,655 |
182 |
93,258 |
33.05 |
70,094 |
-24.06 |
92,299 |
313 |
22,338 |
|
Taxation |
88,384 |
165 |
33,251 |
44.99 |
22,933 |
-24.43 |
30,347 |
275 |
8,074 |
|
Results
on ordinary operations after taxation |
175,271 |
203 |
57,778 |
22.51 |
47,161 |
-24.02 |
62,073 |
335 |
14,264 |
|
Net
result |
175,271 |
192 |
60,007 |
27.24 |
47,161 |
-23.87 |
61,952 |
334 |
14,264 |
|
Profit
(Loss) for the Year to be appropiated |
175,271 |
192 |
60,007 |
27.24 |
47,161 |
-23.87 |
61,952 |
334 |
14,264 |
Social Balance Sheet Details
|
Social Balance Sheet |
Total |
|
|
|
During the reporting year ended 31-12-2013 |
|
||
|
Full-time Employees |
- |
|
|
|
Part-time Employees |
1 |
|
|
|
Total Fte Employees |
0 |
|
|
|
|
|
||
|
Number of hours worked |
|
||
|
Full-time Employees |
- |
|
|
|
Part-time Employees |
952 |
|
|
|
Total |
952 |
|
|
|
|
|
||
|
Personnel Charges |
|
||
|
Full-time Employees |
- |
|
|
|
Part-time Employees |
13,379 |
|
|
|
Total |
13,379 |
|
|
|
Benefits In Addition To Wages |
- |
|
|
|
New staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
|
New Starters |
- |
2 |
1 |
|
|
Leavers |
- |
2 |
1 |
|
Industry comparison
|
Activity
description |
Subject is
specializes in Carbon Steel, Steel Profiles, Stainless Steel and Special Steel Products. |
|
|
Industry average
payment expectation days |
72.53 |
|
|
Industry average
day sales outstanding |
346.87 |
|
Industry quartile analysis
|
Payment
expectations |
|
|
Lower |
103.76 |
|
Median |
64.77 |
|
Upper |
31.61 |
|
|
|
|
Day sales
outstanding |
|
|
Lower |
84.31 |
|
Median |
41.69 |
|
Upper |
13.89 |
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 |
VANESSA |
|
|
|
|
|
Surname |
DEBEUF |
|
|
|
|
|
SHAREHOLDER
DETAILS |
|||||
|
Start date |
17/11/2006 |
|
|
|
|
|
Percentage owned
|
3.22% |
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
|
|
Street name |
Grondwetlaan |
House number |
|
80 |
|
|
Minor town |
Sint-Amandsberg |
Postal town |
|
Gent |
|
|
Post code |
9040 |
Country |
|
Belgium |
|
|
SHAREHOLDER NAME |
|||||
|
Forename |
Wissam |
|
|
|
|
|
Surname |
Fawaz |
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
|
|
Start date |
17/11/2006 |
|
|
|
|
|
Percentage owned
|
96.77% |
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
|
|
Street name |
Grondwetlaan |
House number |
|
82 |
|
|
Minor town |
Sint-Amandsberg |
Postal town |
|
Gent |
|
|
Post code |
9040 |
Country |
|
Belgium |
|
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 WISSAM ALI FAWAZ
Position Principal Manager
Start Date 27/05/2010
Date of birth 03/03/1972
Street 82 GRONDWETLAAN GENT
Post code 9040
Country Belgium
Name JAN DUMEZ
Position Principal Manager
Start Date 20/04/2012
Street 5 VROMENHOEVE ZWIJNDRECHT
Post code 2070
Country The Netherlands
Name FAWAZ WISSAM
Position Principal Manager
Start Date 05/12/2006
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.20 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
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.