|
Report No. : |
302645 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SWINTU DIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 9-Bus 9, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.02.1998 |
|
|
|
|
Com. Reg. No.: |
462600027 |
|
|
|
|
Legal Form : |
Private Limited Company
(BL/LX) |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES |
|
|
|
|
No of Employees : |
01 |
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 |
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 |
Business number 462600027
Company name SWINTU DIAM BVBA
Address HOVENIERSSTRAAT
9-BUS 9
2018 ANTWERPEN
Number of staff 1
Date of establishment 16/02/1998
Telephone number 032313770
Fax number 032260602
The business was established over 16 years ago.
The business has 1 employees.
The business has been at the address for over 13 years.
A 32% decline in Total Assets occurred during the latest trading period.
The business saw an increase in their Cash Balance of 69% during the
latest trading period.
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2013 |
92,382,612 |
110,080 |
9,791,084 |
14,816,042 |
|
31/12/2012 |
93,132,673 |
111,752 |
10,157,600 |
15,394,734 |
|
31/12/2011 |
109,507,366 |
137,068 |
10,287,670 |
11,727,750 |
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
41,754,443 |
1 |
9,443,365 |
98,210 |
|
31/12/2012 |
61,813,522 |
1 |
9,870,536 |
109,157 |
|
31/12/2011 |
32,580,914 |
1 |
10,065,889 |
115,696 |
|
Past payments |
|
Payment expectation days |
44.85 |
|
Industry average payment expectation days |
124.45 |
Industry
average day sales outstanding |
141.74 |
|
Day sales outstanding |
89.65 |
|
|
BANKRUPTCY DETAILS
Court action type no
PROTESTED BILLS
Bill amount -
NSSO DETAILS
Date of summons -
|
Business number |
462600027 |
Company name |
SWINTU DIAM BVBA |
|
Fax number |
032260602 |
Date founded |
16/02/1998 |
|
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.0462.600.027 Check VAT
number |
|
Belgian Bullettin of Acts Publications |
moniteur belge |
|
|
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 |
195,762 |
-10.91 |
219,746 |
-16.90 |
264,449 |
27.70 |
207,079 |
1.44 |
204,131 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
Tangible fixed assets |
195,382 |
-10.93 |
219,349 |
-16.93 |
264,044 |
27.68 |
206,809 |
1.44 |
203,881 |
|
Land & building |
142,721 |
-7.20 |
153,800 |
-4.80 |
161,557 |
0.35 |
161,000 |
4.84 |
153,564 |
|
Plant & machinery |
10,892 |
89.16 |
5,758 |
-35.31 |
8,901 |
-25.61 |
11,965 |
195 |
4,052 |
|
Furniture & Vehicles |
41,769 |
-30.14 |
59,791 |
-36.11 |
93,585 |
176 |
33,844 |
-26.85 |
46,265 |
|
Leasing & Other Similar
Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other tangible assets |
0 |
- |
0 |
-100 |
1 |
- |
0 |
- |
0 |
|
Financial fixed assets |
380 |
-4.28 |
397 |
-1.98 |
405 |
50.56 |
269 |
7.60 |
250 |
|
Total current assets |
41,558,681 |
-32.53 |
61,593,776 |
90.60 |
32,316,465 |
5.05 |
30,763,110 |
35.44 |
22,712,848 |
|
Inventories |
16,860,815 |
-31.63 |
24,662,088 |
56.74 |
15,734,613 |
167 |
5,873,080 |
-34.01 |
8,899,539 |
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
16,860,815 |
-31.63 |
24,662,088 |
56.74 |
15,734,613 |
167 |
5,873,080 |
-34.01 |
8,899,539 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
Trade debtors |
22,691,703 |
-35.33 |
35,090,534 |
134 |
14,988,990 |
-35.86 |
23,367,903 |
88.91 |
12,369,630 |
|
Other amounts receivable |
15,342 |
270 |
4,137 |
-1.52 |
4,201 |
-68.19 |
13,208 |
199 |
4,409 |
|
Cash |
536,424 |
69.08 |
317,252 |
2989 |
10,268 |
-9.49 |
11,345 |
-9.75 |
12,571 |
|
Miscellaneous current assets |
4,197 |
5.88 |
3,964 |
-87.84 |
32,594 |
4111 |
774 |
-97.98 |
38,389 |
|
Total Assets |
41,754,443 |
-32.45 |
61,813,522 |
89.72 |
32,580,914 |
5.20 |
30,970,189 |
35.14 |
22,916,979 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
9,791,084 |
-3.61 |
10,157,600 |
-1.26 |
10,287,670 |
4.14 |
9,878,404 |
8.78 |
9,081,479 |
|
Issued share capital |
9,443,365 |
-4.33 |
9,870,536 |
-1.94 |
10,065,889 |
3.27 |
9,746,813 |
7.81 |
9,040,354 |
|
Share premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Reserves |
347,719 |
21.13 |
287,064 |
29.44 |
221,781 |
68.54 |
131,591 |
219 |
41,125 |
|
|
|
|
|
|
|
|
|
|
|
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered
taxes |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Creditors |
31,963,359 |
-38.12 |
51,655,922 |
131 |
22,293,244 |
5.70 |
21,091,785 |
52.45 |
13,835,500 |
|
Other
long term loans |
5,220,720 |
-4.33 |
5,456,880 |
220 |
1,704,529 |
2.27 |
1,666,723 |
6.66 |
1,562,704 |
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
long term debts |
5,220,720 |
-4.33 |
5,456,880 |
220 |
1,704,529 |
2.27 |
1,666,723 |
6.66 |
1,562,704 |
|
Current
portion of long term debt |
- |
- |
4,149 |
-74.22 |
16,094 |
5.05 |
15,320 |
5.05 |
14,583 |
|
Financial
debts |
14,654,299 |
-16.5S |
17,569,252 |
4189 |
409,623 |
-96.61 |
12,088,522 |
64.98 |
7,327,161 |
|
Trade
creditors |
11,241,797 |
-60.51 |
28,467,175 |
41.64 |
20,097,720 |
178 |
7,225,286 |
48.87 |
4,853,439 |
|
Amounts
Payable for Taxes, |
26,599 |
-27.16 |
36,519 |
34.56 |
27,139 |
34.82 |
20,130 |
319 |
4,794 |
|
Remuneration
& Social Security |
|
|
|
|
|
|
|
|
|
|
Miscellaneous
current liabilities |
819,944 |
572 |
121,947 |
219 |
38,139 |
-49.69 |
75,804 |
4.10 |
72,819 |
|
Total
current liabilities |
26,742,639 |
-42.11 |
46,199,042 |
124 |
20,588,715 |
5.99 |
19,425,062 |
58.28 |
12,272,796 |
|
|
|||||||||
|
Total
Liabilities |
41,754,443 |
-32.45 |
61,813,522 |
89.72 |
32,580,914 |
5.20 |
30,970,189 |
35.14 |
22,916,979 |
|
|
|
|
|
|
|
|
|
|
|
|
ratio
analysis |
|
|
|
|
|
|
|
|
|
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.12 |
0 |
0.12 |
-7.69 |
0.13 |
-7.14 |
0.14 |
-12.50 |
0.16 |
|
|
|
|
|
|
|
|
|
|
|
|
Return
on capital employed |
0.73 |
1.39 |
0.72 |
-36.84 |
1.14 |
8.57 |
1.05 |
110 |
0.50 |
|
Return
on total assets employed |
0.26 |
44.44 |
0.18 |
-57.14 |
0.42 |
7.69 |
0.39 |
69.57 |
0.23 |
|
Return
on net assets employed |
1.12 |
1.82 |
1.10 |
-17.29 |
1.33 |
8.13 |
1.23 |
108 |
0.59 |
|
Sales
/ net working capital |
6.24 |
3.14 |
6.05 |
-35.22 |
9.34 |
19.90 |
7.79 |
148 |
3.14 |
|
|
|
|
|
|
|
|
|
|
|
|
Stock
turnover ratio |
18.25 |
-31.08 |
26.48 |
84.27 |
14.37 |
116 |
6.65 |
-75.48 |
27.12 |
|
Creditor
days |
44.85 |
-60.13 |
112.48 |
67.06 |
67.33 |
124 |
30.03 |
-44.87 |
54.47 |
|
Debtor
days |
89.65 |
-34.81 |
137.52 |
175 |
49.96 |
-48.24 |
96.53 |
-29.85 |
137.60 |
|
Current
ratio |
1.55 |
16.54 |
1.33 |
-15.29 |
1.57 |
-0.63 |
1.58 |
-14.59 |
1.85 |
|
Liquidity
ratio / acid ratio |
0.92 |
15.00 |
0.80 |
-1.23 |
0.81 |
-36.72 |
1.28 |
13.27 |
1.13 |
|
Current
debt ratio |
2.73 |
-40.0 |
4.55 |
127 |
2.00 |
1.52 |
1.97 |
45.93 |
1.35 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
98,210 |
-10.03 |
109,157 |
-5.65 |
115,696 |
4.23 |
110,998 |
96.12 |
56,596 |
|
Net
worth |
9,791,084 |
-3.61 |
10,157,600 |
-1.26 |
10,287,670 |
4.14 |
9,878,404 |
8.78 |
9,081,479 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
202.99 |
-10.47 |
226.73 |
994 |
20.71 |
-85.14 |
139.40 |
42.17 |
98.05 |
|
Equity in percentage |
23.45 |
42.73 |
16.43 |
-47.97 |
31.58 |
-1.00 |
31.90 |
-19.51 |
39.63 |
|
Total debt ratio |
3.26 |
-35.95 |
5.09 |
134 |
2.17 |
1.40 |
2.14 |
40.79 |
1.52 |
|
|
|
|
|
|
|
|
|
|
|
|
Working capital |
14,816,042 |
-3.76 |
15,394,734 |
31.27 |
11,727,750 |
3.44 |
11,338,048 |
8.60 |
10,440,052 |
|
Profit & loss |
|
|
|
|
|
|
|
|
|
|
Operating Income |
92,401,168 |
-0.79 |
93,138,996 |
-14.95 |
109,510,550 |
23.94 |
88,361,016 |
168 |
32,968,618 |
|
Turnover |
92,382,612 |
-0.81 |
93,132,673 |
-14.95 |
109,507,366 |
23.93 |
88,360,911 |
169 |
32,810,821 |
|
Total operating expenses |
91,490,688 |
-0.96 |
92,378,622 |
-15.22 |
108,956,739 |
24.06 |
87,827,569 |
170 |
32,523,705 |
|
Gross Operating
Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
Operating Charges |
91,509,244 |
-0.95 |
92,384,945 |
-15.21 |
108,959,923 |
24.06 |
87,827,674 |
168 |
32,681,502 |
|
Employee costs |
72,630 |
42.99 |
50,794 |
-0.14 |
50,866 |
198 |
17,018 |
- |
- |
|
Wages and salary |
58,529 |
41.92 |
41,240 |
-4.05 |
42,982 |
240 |
12,631 |
- |
- |
|
Employee pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security
contributions |
12,741 |
50.85 |
8,446 |
21.14 |
6,972 |
362 |
1,507 |
- |
- |
|
Other employee costs |
1,360 |
22.63 |
1,109 |
21.47 |
913 |
-68.29 |
2,879 |
- |
0 |
|
Director remuneration |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Amortization and
depreciation |
25,131 |
-36.49 |
39,570 |
32.72 |
29,814 |
25.55 |
23,746 |
16.61 |
20,364 |
|
|
|
|
|
|
|
|
|
|
|
|
Operating result |
891,924 |
18.28 |
754,051 |
36.94 |
550,627 |
3.24 |
533,342 |
85.76 |
287,116 |
|
Total financial income |
39 |
-98.96 |
3,766 |
-79.19 |
18,097 |
18556 |
97 |
79.63 |
54 |
|
|
|
|
|
|
|
|
|
|
|
|
Total financial expenses |
781,883 |
21.02 |
646,066 |
49.67 |
431,656 |
4.75 |
412,065 |
76.52 |
233,438 |
|
|
|||||||||
|
Results on ordinary
operations before taxation |
110,080 |
-1.50 |
111,752 |
-18.47 |
137,068 |
12.93 |
121,375 |
125 |
53,732 |
|
|
|
|
|
|
|
|
|
|
|
|
Extraordinary Income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
Extraordinary Charges |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
Results for the Year
Before Taxation |
110,080 |
-1.50 |
111,752 |
-18.47 |
137,068 |
12.93 |
121,375 |
125 |
53,732 |
|
|
|
|
|
|
|
|
|
|
|
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
Taxation |
37,001 |
-12.25 |
42,164 |
-17.63 |
51,186 |
50.00 |
34,123 |
94.98 |
17,501 |
|
Results on ordinary
operations after taxation |
73,079 |
5.02 |
69,588 |
-18.97 |
85,882 |
-1.57 |
87,252 |
140 |
36,231 |
|
|
|
|
|
|
|
|
|
|
|
|
Net result |
73,079 |
5.02 |
69,587 |
-18.97 |
85,882 |
-1.57 |
87,252 |
140 |
36,232 |
|
|
|
|
|
|
|
|
|
|
|
|
Profit (Loss) for the Year
to be appropiated |
73,079 |
5.02 |
69,587 |
-18.97 |
85,882 |
-1.57 |
87,252 |
140 |
36,232 |
|
|
|
|
|
|
|
|
|
|
|
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social
Balance Sheet |
Total |
|
|
|
During the
reporting year ended 31-12-2013 |
|||
|
Full-time
Employees |
1 |
|
|
|
Part-time
Employees |
- |
|
|
|
Total Fte
Employees |
1 |
|
|
|
|
|||
|
Number of
hours worked |
|||
|
Full-time
Employees |
1,771 |
|
|
|
Part-time
Employees |
- |
|
|
|
Total |
1,771 |
|
|
|
|
|||
|
Personnel
Charges |
|||
|
Full-time
Employees |
72,630 |
|
|
|
Part-time
Employees |
- |
|
|
|
Total |
72,630 |
|
|
|
Benefits In
Addition To Wages |
- |
|
|
|
|
|||
|
During the
previous reporting year |
|||
|
Average
number employees in Fte |
1 |
|
|
|
Actual
working hours |
1,786 |
|
|
|
Personnel
Charges |
48,596 |
|
|
|
Benefits In
Addition To Wages |
- |
|
|
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration
Contracts |
1 |
- |
1 |
Gender and Education Level
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Secondairy education |
1 |
- |
1 |
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
White collar worker |
1 |
- |
1 |
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
industry average credit rating 64.48
Industry average credit limit 140177.31
Payment expectations
|
|
|
Payment
expectation days |
44.85 |
|
Day sales
outstanding |
89.65 |
Industry comparison
|
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of
diamonds and other precious stones |
|
Industry average payment expectation days |
124.45 |
|
Industry average day sales outstanding |
141.74 |
Payment expectations
Company result 44.85
Lower 122.66
Median 75.69
Upper 46.98
Company result 89.65
Lower 102.58
Median 54.52
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
Current director details
Name ARVINDKUMAR BHAVANBHAI
MAVANI
Position Principal Manager
Start Date 05/08/2010
Street 9 JAN DE
SADELERLAAN EDEGEM
Post code 2650
Country Belgium
Name DILIP RAMNIKLAL
THAKKER
Position Principal Manager
Start Date 04/02/1998
Street 6 VAN EYCKLEI ANTWERPEN
Post code 2018
Country Belgium
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.