MIRA INFORM REPORT

 

 

Report No. :

308809

Report Date :

18.02.2015

 

IDENTIFICATION DETAILS

 

Name :

OXYDE  BELGIUM  BVBA

 

 

Registered Office :

Entrepotkaai  9, 2000 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

02.11.2006

 

 

Com. Reg. No.:

884724429

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of Chemical Products for Industrial Use.

 

 

No. of Employees :

2

 

 

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 :

low 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

884724429

Branche  Unit  Number

2171403495

Company  name

OXYDE  BELGIUM  BVBA

Address

ENTREPOTKAAI  9

 

2000 ANTWERPEN

Number  of  staff

2

Date  of  establishment

02/11/2006

Telephone  number

032051650

Fax  number

032051659

 

 

Commentary

 

The business was established over 8 years ago.

The business has 3 employees.

The business has been  at  the  address  for  over  6  years.

Operating  Result in  the  latest  trading  period  decreased  27%  on  the  previous  trading  period.

The business saw a  decrease  in  their  Cash  Balance  of  68%  during  the  latest  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

38,699,611

206,923

4,022,744

4,020,501

31/12/2012

47,061,642

219,161

3,838,220

3,590,350

31/12/2011

43,965,172

-55,302

3,618,388

3,433,765

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

10,341,039

2

3,020,000

187,085

31/12/2012

9,294,142

3

3,020,000

230,608

31/12/2011

9,430,023

3

3,020,000

77,855

 

 

Payment Expectations

 

Past  payments

 

Payment  expectation  days

13.33

Industry  average  payment

expectation  days

64.50

Industry  average  day  sales

outstanding

196.50

Day  sales  outstanding

57.93

 

 

 

 

Court Data Summary

 

BANKRUPTCY DETAILS

Court action type                      No

PROTESTED BILLS

Bill amount                              -

NSSO DETAILS

Date of summons                     -

 

 

Company Information

 

Business  number

884724429

Company  name

OXYDE  BELGIUM  BVBA

Fax  number

032051659

Date  founded

02/11/2006

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46751

Liable  for  VAT

yes

Activity  description

Wholesale  of  chemical

products  for  industrial  use

VAT  Number

BE.0884.724.429 

Check  VAT number

Belgian  Bullettin  of  Acts

Publications

moniteur  belge

 

 

 

 

Contractor details

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

 

Personnel  (NSSO  classification)

Code

-

Description

-

 

Joint  Industrial  Committee  (JIC)

JIC  Code

207

Description Category

Joint  committee  for  the  employees  off  he  chemical  industry

 

 

Significant  Events

 

Event  Date

31/10/2014

Event  Description

proposal  of  merger  by  absorption  filed

Event  Details

Commentaar  31-10-2014:  Fusievoorstel  tussen  enerzijds,  de  overnemende  vennootschap,  Oxyde Belgium  BVBA,  en  anderzijds,  de  over  te  nemen  vennootschap,  Chemical  Marketing  Company  NV.

 

 

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

7,554

-97.06

256,536

35.57

189,233

6.53

177,625

-0.85

179,154

Intangible  fixed  assets

5,312

-38.71

8,667

87.98

4,610

-21.20

5,850

-

0

Tangible  fixed  assets

1,882

-30.97

2,727

-61.91

7,158

17.71

6,081

-15.74

7,217

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

1,882

-30.97

2,727

-52.29

5,716

78.82

3,196

10.62

2,889

Furniture  &  Vehicles

-

-

-

-

1,378

-50.00

2,755

-33.33

4,132

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-100

65

-50.00

130

-33.33

195

Financial  fixed  assets

360

-99

245,143

38.14

177,465

7.10

165,694

-3.63

171,938

Total  current  assets

10,333,485

14.34

9,037,606

-2.20

9,240,789

-30.50

13,296,507

1027

1,179,295

Inventories

3,499,014

89.07

1,850,691

-59.67

4,589,166

-7.86

4,980,664

-

-

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

3,499,014

89.07

1,850,691

-59.67

4,589,166

-7.86

4,980,664

-

0

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

6,142,423

26.96

4,838,086

53.02

3,161,705

-57.40

7,422,551

576

1,097,590

Other  amounts  receivable

30,747

-88.13

259,112

104

126,627

293

32,149

-

-

Cash

638,764

-68.87

2,051,843

52.85

1,342,411

56.72

856,569

952

81,384

Miscellaneous  current  assets

22,537

-40.49

37,874

81.38

20,881

356

4,575

1327

320

Total  Assets

10,341,039

11.26

9,294,142

-1.44

9,430,023

-30.01

13,474,132

891

1,358,449

 

 

LIABILITIES

 

Total  shareholders  equity

4,028,056

4.71

3,846,886

6.18

3,622,998

2.04

3,550,466

2836

120,899

Issued  share  capital

3,020,000

0

3,020,000

0

3,020,000

0

3,020,000

15000

20,000

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

1,008,056

21.91

826,886

37.13

602,998

13.67

530,466

425

100,899

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-100

198,109

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

6,312,984

15.89

5,447,255

-6.20

5,807,024

-40.29

9,725,557

685

1,237,550

Other  long  term  loans

-

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-100

198,109

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

3,800,000

-

-

-

360

103

177

-

-

Trade  creditors

1,405,157

-73.60

5,322,485

88.42

2,824,842

-69.73

9,332,491

962

877,964

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

1,104,248

2137

49,354

-82.12

276,103

15.15

239,783

34.26

178,596

Miscellaneous  current  liabilities

3,579

-95.25

75,417

-97.21

2,705,718

1667

153,106

-15.41

180,990

Total  current  liabilities

6,312,984

15.89

5,447,255

-6.20

5,807,024

-40.29

9,725,557

685

1,237,550

Total  Liabilities

10,341,039

11.26

9,294,142

-1.44

9,430,023

-30.01

13,474,132

891

1,358,449

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.53

12.77

0.47

361

-0.13

-106

1.92

54.08

-3.55

Return  on  capital  employed

5.14

-9.82

5.70

372

-1.53

-107

21.28

67.53

-31.51

Return  on  total  assets  employed

2.00

-15.25

2.36

400

-0.59

-109

5.92

211

-2.80

Return  on  net  assets  employed

5.14

-9.82

5.70

372

-1.53

-106

22.46

71.28

-31.51

Sales  /  net  working  capital

9.63

-26.54

13.11

2.42

12.80

9.78

11.66

63.27

-18.43

Stock  turnover  ratio

9.04

130

3.93

-62.36

10.44

-12.71

11.96

-

-

Creditor  days

13.33

-67.93

41.56

77.08

23.47

-71.89

83.49

-71.09

288.76

Debtor  days

57.93

54.40

37.52

42.93

26.25

-59.67

65.08

-82.56

373.06

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.64

-1.20

1.66

4.40

1.59

16.06

1.37

44.21

0.95

Liquidity  ratio  /  acid  ratio

1.08

-18.18

1.32

65.00

0.80

-6.98

0.86

-9.47

0.95

Current  debt  ratio

1.57

10.56

1.42

-11.25

1.60

-41.61

2.74

-73.24

10.24

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

187,085

-18.87

230,608

196

77,855

-82.04

433,527

1229

-35,258

Net  worth

4,022,744

4.81

3,838,220

6.08

3,618,388

2.08

3,544,616

2831

120,899

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

94.34

-

-

-

0.01

-

0.00

-

-

Equity  in  percentage

38.97

-5.94

41.43

7.78

38.44

45.83

26.36

196

8.90

Total  debt  ratio

1.57

10.56

1.42

-11.25

1.60

-42.86

2.80

-72.66

10.24

Working  capital

4,020,501

11.98

3,590,350

4.56

3,433,765

-3.84

3,570,950

6129

-58,255

 

 

PROFIT & LOSS

 

Operating  Income

38,714,661

-17.80

47,099,282

7.04

44,000,606

5.57

41,680,149

3182

1,269,654

Turnover

38,699,611

-17.77

47,061,642

7.04

43,965,172

5.61

41,631,401

3776

1,073,883

Total  operating  expenses

38,466,273

-17.70

46,740,804

6.38

43,939,416

7.69

40,799,990

3576

1,109,774

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

38,481,322

-17.74

46,778,445

6.38

43,974,850

7.65

40,848,737

3028

1,305,546

Employee  costs

355,067

18.02

300,844

15.09

261,389

27.78

204,563

172

75,123

Wages  and  salary

277,622

26.97

218,657

15.75

188,903

21.55

155,409

157

60,280

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

63,697

-1.30

64,537

10.81

58,239

56.21

37,284

287

9,619

Other  employee  costs

13,747

-22.11

17,650

23.89

14,247

20.02

11,870

127

5,224

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

5,915

-11.97

6,720

26.26

5,322

34.42

3,960

27.23

3,112

Operating  result

233,338

-27.27

320,838

1145

25,756

-96.90

831,411

2316

-35,891

Total  financial  income

2,047

-38.85

3,347

-12.90

3,843

-92.22

49,397

1510

3,066

Total  financial  expenses

28,462

-72.90

105,024

23.70

84,900

1.95

83,280

1481

5,267

Results  on  ordinary  operations before taxation

206,923

-5.58

219,161

396

-55,302

-106

797,528

2093

-38,092

Extraordinary  Income

-

-

-

-

198,109

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

198,109

-

-

Extraordinary  items

0

-

0

-100

198,109

100

-198,109

-

0

Results  for  the  Year  Before  Taxation

206,923

-5.58

219,161

53.47

142,807

-76.18

599,419

1573

-38,092

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

25,754

544

-4,727

-106

70,275

-58.63

169,852

60844

279

Results  on  ordinary  operations  after taxation

181,169

-19.08

223,888

178

-125,577

-120

627,676

1635

-38,370

Net  result

181,169

-19.08

223,888

208

72,532

-83.12

429,567

1119

-38,370

Profit  (Loss)  for  the  Year  to  be appropriated

181,169

-19.08

223,888

208

72,532

-83.12

429,567

1119

-38,370

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year ended  31-12-2013

 

Full-time  Employees

3

Part-time  Employees

0

Total  Fte  Employees

3

 

 

Number  of  hours  worked

 

Full-time  Employees

4,504

Part-time  Employees

392

Total

4,896

 

 

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

-

Total

207,381

Benefits  In  Addition  To  Wages

-

 

 

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

3

Actual  working  hours

4,920

Personnel  Charges

216,966

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration Contracts

2

1

3

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding Substitution

-

-

-

 

Gender  and  Education

 

 

 

Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non university)

-

1

1

Higher  education(university)

-

-

-

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

1

-

1

Higher  education  (non university)

1

-

1

Higher  education

-

-

-

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

2

1

3

Blue  collar  worker

-

-

-

Other

-

-

-

 

 

 

 

Temporary  personnel

 

Total

 

Average  number  of  temporary  staff

 

-

 

Actual  working  hours

 

-

 

Cost  of  temporary  staff

 

-

 

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

-

-

-

Leavers

-

-

-

 

 

Total  of  formal  continuing  vocational  training  initiatives for  workers  paid  by  the  employer

Male

Female

Number  of  employees

1

2

Number  of  training  hours

15

22

Net  costs  for  enterprise

256

847

 

 

 

Total  of  less  formal  and  informal  continuing  vocational training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

1

2

Number  of  training  hours

8

14

Net  costs  for  enterprise

511

681

 

 

 

 

 

 

Total  of  initial  training  initiatives  at  the  expense  of  the employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

Industry Comparison

 

Industry comparison

Activity code                            46751

Activity description                  Wholesale of chemical products for industrial use

industry average credit

rating                                       69

Industry average credit limit     167313.70

 

 

Payment Information

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

14

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

5

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

0

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

9

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

 

Suspension  of  payments/  moratorium  history

Amount

-

Details

-

 

 

Payment  Expectations

Payment  expectation  days

13.33

Day  sales  outstanding

57.93

 

 

Industry comparison

 

Activity  code

46751

Activity  description

Wholesale  of  chemical  products  for  industrial  use

Industry  average  payment

expectation  days

64.50

Industry  average  day  sales

outstanding

196.50

 

 

Industry  quartile  analysis

Payment  expectations

 

Company  result

13.33

Lower

91.71

Median

58.26

Upper

40.98

 

Day  sales  outstanding

 

Company  result

57.93

Lower

70.28

Median

44.40

Upper

23.89

 

 

Shareholders 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

Peter

Middle  name

 

-

Surname

Blocken

 

 

 

SHAREHOLDER  DETAILS

 

 

 

 

Start  date

26/10/2006

End  date

 

-

Percentage  owned

100%

 

 

 

SHAREHOLDER  ADDRESS

 

 

 

 

Street  name

Galgeneinde

House  number

 

37

Minor  town

Zolder

Postal  town

 

Heusden-Zolder

Post  code

3550

Country

 

Belgium

 

 

Companies that match this address

Business  number

Company  name

 

 

Date  of  accounts

 

445838625

CHEMICAL  MARKETING  COMPANY  NV

 

 

10/10/2013

 

445838625

CHEMICAL  MARKETING  COMPANY  NV

 

 

10/10/2013

 

899468132

ADIUTOR=OXYDE  CHEMICALS  INC  BVBA

 

 

-

 

 

 

Linked Companies

 

Summary

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

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

STEPHEN  STONE

Position

Principal  Manager

Start  Date

16/08/2010

Street

9 ENTREPOTKAAI  ANTWERPEN

Post  code

2000

Country

Belgium

 

 

Name

FERNANDO  RODRIGUEZ

Position

Principal  Manager

Start  Date

16/08/2010

Street

9 ENTREPOTKAAI  ANTWERPEN

Post  code

2000

Country

Belgium

 

 

Position

Non  Statutory  Partner

Start  Date

01/01/2010

Street

9 ENTREPOTKAAI  ANTWERPEN

Post  code

2000

Country

Belgium

 

 

Name

JOSE  FERNAND  RODRIGUEZ

Position

Principal  Manager

Start  Date

01/01/2010

Post  code

--

Country

--

 

Former Director Details

 

Name

PETER  JEAN-MARIE  BLOCKEN

Position

Principal  Manager

Start  Date

26/10/2006

End  Date

Unknown  date

Date  of  birth

27/06/1966

Street

29 HOGE  AKKERSTRAAT  WACHTEBEKE

Post  code

9185

Country

Belgium

 

 

Position

Non  Statutory  Partner

Start  Date

26/10/2006

End  Date

31/01/2010

Date  of  birth

27/06/1966

Street

29 HOGE  AKKERSTRAAT  WACHTEBEKE

Post  code

9185

Country

Belgium

 

 

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 :

RAS

 

 

Report Prepared by :

NIT

 

               

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.