MIRA INFORM REPORT
|
Report No. : |
302238 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 38, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.05.1986 |
|
|
|
|
Com. Reg. No.: |
428939542 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones |
|
|
|
|
No of Employees : |
01 (31.12.2013) |
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 : |
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 |
A1 |
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 428939542
Company name RELIANCE BVBA
Address HOVENIERSSTRAAT
30-BUS 38
2018 ANTWERPEN
Number of staff 1
Date of establishment 15/05/1986
Telephone number 032330490
Fax number 032263380
Commentary
|
The business was established over 28 years
ago. |
|
The business has 1 employees. |
|
The business has been at the address for
over 14 months. |
|
Operating Result in the latest trading
period decreased 508% on the previous trading period. |
|
A 54% growth in Total Assets occurred
during the latest trading period. |
|
Pre-tax profits decreased by 697% compared
to the previous trading period. |
|
The business saw an increase in their Cash
Balance of 35% during the latest trading period. |
Accounts
DATE OF LATEST
ACCOUNTS PROFIT
BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 -21,459
703,097
685,243
31/12/2012 3,590
724,553
705,885
31/12/2011 -2,403
722,985
702,035
Accounts
DATE OF LATEST
ACCOUNTS BALANCE
TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 1,580,340
1 18,600
-17,941
31/12/2012 1,019,633
1 18,600
4,784
31/12/2011 1,885,231
1 18,600
4,088
Trends
Profitability 
Liquidity
Net
worth
Payment
expectations
Industry average payment expectation days 124.39
Industry average day sales outstanding 141.74
Company
information
|
Business number |
428939542 |
Company name |
RELIANCE BVBA |
|
Fax number |
032263380 |
Date founded |
15/05/1986 |
|
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 |
Wholesaler of diamonds and other precious stones |
VAT Number |
BE.0428.939.542 Check VAT number |
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 |
39,546 |
-2.01 |
40,359 |
-5.35 |
42,641 |
-24.33 |
56,350 |
-13.66 |
65,266 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
39,000 |
-2.04 |
39,813 |
-5.42 |
42,096 |
-24.56 |
55,804 |
-13.78 |
64,720 |
|
Land & building |
33,504 |
-6.13 |
35,690 |
-5.77 |
37,877 |
-26.02 |
51,200 |
-4.75 |
53,756 |
|
Plant & machinery |
4,536 |
40.55 |
3,228 |
-20.68 |
4,069 |
7.88 |
3,772 |
-16.94 |
4,541 |
|
Furniture & Vehicles |
960 |
7.21 |
896 |
495 |
150 |
-81.94 |
832 |
-87.04 |
6,423 |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial fixed assets |
545 |
0 |
545 |
0 |
545 |
0 |
545 |
0.07 |
545 |
|
Total current assets |
1,540,795 |
57.34 |
979,275 |
-46.85 |
1,842,590 |
3.40 |
1,781,922 |
-55.08 |
3,967,312 |
|
Inventories |
530,426 |
-12.99 |
609,584 |
-21.29 |
774,494 |
51.16 |
512,372 |
-38.57 |
834,023 |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other stocks |
530,426 |
-12.99 |
609,584 |
-21.29 |
774,494 |
51.16 |
512,372 |
-38.57 |
834,023 |
|
Trade debtors |
820,594 |
268 |
222,902 |
-76.09 |
932,403 |
-21.62 |
1,189,647 |
-60.47 |
3,009,701 |
|
Other amounts receivable |
109,044 |
26.09 |
86,479 |
39.87 |
61,827 |
75.05 |
35,320 |
60.20 |
22,047 |
|
Cash |
79,578 |
35.27 |
58,830 |
-18.02 |
71,759 |
68.64 |
42,552 |
-57.76 |
100,731 |
|
Miscellaneous current assets |
1,153 |
-22.05 |
1,480 |
-29.79 |
2,107 |
3.73 |
2,032 |
150 |
811 |
|
Total Assets |
1,580,340 |
54.99 |
1,019,633 |
-45.91 |
1,885,231 |
2.55 |
1,838,271 |
-54.41 |
4,032,578 |
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
703,097 |
-2.96 |
724,553 |
0.22 |
722,985 |
0.07 |
722,455 |
1.52 |
711,655 |
|
Issued share capital |
18,600 |
0 |
18,600 0 |
18,600 |
0 |
18,600 |
0 |
0 |
18,600 |
|
Reserves |
684,497 |
-3.04 |
705,953 |
0.22 |
704,385 |
0.08 |
703,855 |
1.56 |
693,055 |
|
Creditors |
877,243 |
197 |
295,080 |
-74.61 |
1,162,246 |
4.16 |
1,115,816 |
-66.40 |
3,320,923 |
|
Other long term loans |
21,691 |
0 |
21,691 |
0 |
21,691 |
0 |
21,691 |
0.00 |
21,691 |
|
Total long term debts |
21,691 |
0 |
21,691 |
0 |
21,691 |
0 |
21,691 |
0.00 |
21,691 |
|
Current portion of long term debt |
- |
- |
- |
- |
- |
- |
- |
- |
1,153 |
|
Financial debts |
33,864 |
10029 |
334 |
-97.94 |
16,209 |
26.28 |
12,835 |
- |
- |
|
Trade creditors |
776,516 |
251 |
220,622 |
-79.43 |
1,072,488 |
3.56 |
1,035,616 |
-68.01 |
3,236,830 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
6,888 |
-44.42 |
12,394 |
13.51 |
10,919 |
76.87 |
6,173 |
-74.92 |
24,619 |
|
|
|
|
|
|
|
|
|
|
|
|
Miscellaneous current liabilities |
38,284 |
-4.39 |
40,040 |
-2.20 |
40,940 |
3.64 |
39,501 |
7.84 |
36,630 |
|
Total current liabilities |
855,552 |
212 |
273,390 |
-76.03 |
1,140,555 |
4.24 |
1,094,125 |
-66.84 |
3,299,232 |
|
Total Liabilities |
1,580,340 |
54.99 |
1,019,633 |
-45.91 |
1,885,231 |
2.55 |
1,838,271 |
-54.41 |
4,032,578 |
Ratio analysis
|
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 |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Return
on capital employed |
-2.96 |
-7.16 |
0.48 |
150 |
-0.32 |
-122 |
1.43 |
195 |
-0.73 |
|
Return
on total assets employed |
-1.36 |
-488 |
035 |
269 |
-0.13 |
-122 |
0.58 |
446 |
-0.13 |
|
Return
on net assets employed |
-3.05 |
-710 |
0.50 |
151 |
-0.33 |
-122 |
1.48 |
197 |
-0.75 |
|
Short Term Liability |
|
|
|
|
|
|
|
|
|
|
Current
ratio |
1.80 |
-49.72 |
3.58 |
120 |
1.62 |
-0.61 |
1.63 |
35.83 |
1.20 |
|
Liquidity
ratio / acid ratio |
1.18 |
-12.59 |
1.35 |
43.62 |
0.94 |
-18.97 |
1.16 |
22.11 |
0.95 |
|
Current
debt ratio |
1.22 |
221 |
0.38 |
-75.95 |
1.58 |
4.64 |
1.51 |
-67.46 |
4.64 |
|
Cashflow |
-17941 |
-475 |
4,784 |
17.04 |
4,088 |
-79.27 |
-79.27 |
702 |
2,456 |
|
Networth
|
703097 |
-2.96 |
724,553 |
0.22 |
722,985 |
0.07 |
0.07 |
1.52 |
711,655 |
|
Long Term Liability |
|
|
|
|
|
|
|
|
|
|
Gearing |
7.90 |
|
|
|
|
|
|
|
|
|
Equity
in percentage |
44.49 |
-37.39 |
71.06 |
85.29 |
38.35 |
-2.42 |
39.30 |
122 |
17.65 |
|
Total
debt ratio |
1.25 |
204 |
0.41 |
-74.53 |
1.61 |
4.55 |
1.54 |
-67.02 |
4.67 |
|
Working
Capital |
685,243 |
-2.92 |
705,885 |
0.55 |
702,035 |
2.07 |
687,796 |
2.95 |
668,080 |
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 |
|
Gross Operating Margin |
46,810 |
20.89 |
38,722 |
-65.42 |
111,984 |
117 |
51,528 |
2388 |
41,596 |
|
Employee costs |
28,826 |
0.80 |
28,598 |
37.87 |
20,742 |
13.62 |
18,256 |
-36.98 |
28,969 |
|
Wages and salary |
19,791 |
-0.61 |
19,912 |
32.12 |
15,071 |
2724 |
11,845 |
-41.30 |
20,177 |
|
Social security contributions |
7,222 |
5.43 |
6,850 |
50.65 |
4,547 |
-1.78 |
4,629 |
-33.90 |
7,004 |
|
Other employee costs |
1,813 |
-1.22 |
1,836 |
63.30 |
1,124 |
-36.90 |
1,782 |
-0.35 |
1,788 |
|
Amortization and depreciation |
3,514 |
9.26 |
3,216 |
-9.60 |
3,558 |
-60.10 |
8,916 |
-5.22 |
9,407 |
|
Operating result |
-16,466 |
-508 |
4,033 |
-27.73 |
5,580 |
-74.01 |
21,467 |
1195 |
1,657 |
|
Total financial income |
8,070 |
3.73 |
7,779 |
93.28 |
4,025 |
969 |
376 |
213 |
120 |
|
Total financial expenses |
13,065 |
58.88 |
8,222 |
-31.53 |
12,008 |
7.49 |
11,171 |
56.46 |
7,140 |
|
Results on ordinary
operations before taxation |
-21,459 |
-697 |
3,590 |
149 |
-2,403 |
-122 |
10,672 |
198 |
-5,363 |
|
Extraordinary Income |
22,450 |
728 |
2,710 |
-69.42 |
8,863 |
-- |
-- |
-- |
-- |
|
Extraordinary Charges |
22,450 |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Extraordinary Items |
0 |
-100 |
2,710 |
-69.42 |
8,863 |
-- |
0 |
-- |
-- |
|
Results for the Year Before
taxation |
-21,459 |
-440 |
6,300 |
-2.48 |
6,460 |
-39.47 |
10,672 |
198 |
-5,363 |
|
Taxation |
-4 |
-100 |
4,732 |
-20.20 |
5,930 |
4628 |
-128 |
-108 |
1,588 |
|
Results on ordinary
operations after taxation |
-21,456 |
-1778 |
1,142 |
13.71 |
-8,333 |
-177 |
10,800 |
155 |
-6,951 |
|
Net result |
-21,456 |
-1468 |
1,568 |
195 |
530 |
-95.09 |
10,800 |
155 |
-6,951 |
|
Profit (Loss) for the Year to
be appropriated |
-21,456 |
-1468 |
1,568 |
195 |
530 |
-95.09 |
10,800 |
155 |
-6,951 |
Social
Balance Sheet Details
|
Social Balance Sheet |
Total |
|
|
|
During the reporting year ended 31-12-2013 |
|||
|
Full-time Employees |
1 |
|
|
|
Part-time Employees |
1 |
|
|
|
Total Fte Employees |
2 |
|
|
|
|
|||
|
Number of hours worked |
|||
|
Full-time Employees |
1,764 |
|
|
|
Part-time Employees |
826 |
|
|
|
Total |
2,590 |
|
|
|
|
|||
|
Personnel Charges |
|||
|
Full-time Employees |
18,322 |
|
|
|
Part-time Employees |
10,504 |
|
|
|
Total |
28,826 |
|
|
|
Benefits In Addition To Wages |
- |
|
|
|
|
|||
|
During the previous reporting year |
|||
|
Average number employees in Fte |
2 |
|
|
|
Actual working hours |
2,640 |
|
|
|
Personnel Charges |
28,598 |
|
|
|
Benefits In Addition To Wages |
- |
|
|
|
|
|
|
|
|
|
|||
|
Type of Contract Full-Time |
Full Time |
Part-Time |
Total Fte |
|
Unlimited Duration 1 Contracts |
1 |
1 |
2 |
|
Limited Duration Contracts - |
-- |
- |
- |
|
Contracts For Specific Work - |
-- |
- |
- |
|
Contracts Regarding -Substitution |
-- |
- |
- |
|
|
|
|
|
|
Gender and Education Level |
|
|
|
|
Men |
Full Time |
Part-Time |
Total Fte |
|
Primary education |
1 |
- |
- |
|
Secondary education |
-- |
- |
1 |
|
Higher education (non -university) |
-- |
- |
- |
|
Higher education -(university) |
-- |
- |
- |
|
|
|
|
|
|
Women |
Full Time |
Part-Time |
Total Fte |
|
Primary education |
1 |
- |
- |
|
Secondary education |
-- |
1 |
1 |
|
Higher education (non -university) |
-- |
- |
- |
|
Higher education -(university) |
-- |
- |
- |
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar worker |
- |
1 |
1 |
|
Blue collar worker |
1 |
- |
1 |
|
Other |
- |
- |
- |
Industry
comparison
Activity code 46761
Activity description Wholesaler of
diamonds and other precious stones
Industry average payment
expectation days 124.39
Industry average day sales
Outstanding 141.74
Industry
quartile analysis
Payment expectations
Lower 122.66
Median 76.39
Upper 46.98
Day sales outstanding
Lower 102.84
Median 54.50
Upper 24.07
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
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 |
RAJESH TASWALA |
|
|
Position |
Principal Manager |
|
|
Start Date |
02/09/2011 |
|
|
Street |
7 MARIA-HENRIETTALEI ANTWERPEN |
|
|
Post code |
2018 |
|
|
Country |
Belgium |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
|
UK Pound |
1 |
Rs.96.84 |
|
Euro |
1 |
Rs.75.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
NIT |
DPT |
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.