MIRA INFORM REPORT

 

 

Report No. :

302720

Report Date :

16.01.2015

 

IDENTIFICATION DETAILS

 

Name :

KENIL BVBA

 

 

Registered Office :

Schupstraat 9-Bus 148, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

02.05.1983

 

 

Com. Reg. No.:

423074111

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

WHOLESALE OF WATCHES AND JEWELLERY [DIAMOND].

 

 

No. of Employee :

01

 

 

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

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


COMPANY SUMMARY

 

Business number                     423074111

Company name                        KENIL BVBA

Address                                   SCHUPSTRAAT 9-BUS 148

2018 ANTWERPEN

Number of staff                        0

Date of establishment               02/05/1983

Telephone number                   032316733

Fax number                              032329817

 

 

Commentary

 

The business was established over 32 years ago.

The business has 1 employees.

The business has been at the address for over 12 years.

The business saw an increase in their Cash Balance of 269% during the latest trading period.

Turnover in the latest trading period decreased 37% on the previous trading period.

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

938,201

12,330

288,510

285,494

31/12/2012

1,512,720

-105

274,958

411,146

31/12/2011

3,467,572

-4,995

275,064

410,452

 

 

 

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

5,541,251

0

18,592

14,351

31/12/2012

5,359,963

0

18,592

694

31/12/2011

6,053,432

1

18,592

-4,196

 

Payment Expectations

 

Past  payments

 

Payment  expectation  days

2082.73

Industry  average  payment expectation  days

243.57

Industry  average  day  sales outstanding

360.36

Day  sales  outstanding

1108.61

 

 

 


Court data summary

 

BANKRUPTCY DETAILS

Court action type PROTESTED BILLS

No

 

 

 

Bill amount

-

 

 

 

NSSO DETAILS

Date of summons

-

 

 

 

 

 

Company Information

 

Business  number

423074111

Company  name

KENIL  BVBA

Fax  number

032329817

Date  founded

02/05/1983

Company  status

active

Company  type

Private  Limited  Company (BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46480

Liable  for  VAT

yes

Activity  description

Wholesale  of  watches  and jewellery [diamond]

VAT  Number

BE.0423.074.111  Check  VAT number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

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

3,016

-20.94

3,815

-17.32

4,614

69.83

2,717

-82.85

15,841

Intangible fixed assets

0

-

0

-

0

-

0

-

0

Tangible fixed assets

1,339

-37.37

2,138

-27.21

2,937

182

1,040

-92.59

14,042

Land & building

-

-

-

-

-

-

-

-

-

Plant & machinery

260

-50.0

520

-33.33

780

-25.00

1,040

-

-

Furniture & Vehicles

1,079

-33.31

1,618

-25.00

2,157

-

-

-

14,042

Leasing & Other Similar Rights

-

-

-

-

-

-

-

-

-

Other tangible assets

0

-

0

-

0

-

0

-

0

Financial fixed assets

1,677

0

1,677

0.00

1,677

0

1,677

-6.78

1,799

Total current assets

5,538,235

3.40

5,356,148

-11.45

6,048,818

2.81

5,883,746

18.33

4,972,144

Inventories

2,671,978

8.30

2,467,136

-20.66

3,109,495

-10.49

3,474,096

-8.83

3,810,696

Raw materials & consumables

-

-

-

-

-

-

-

-

-

Work in progress

0

-

0

-

0

-

0

-

0

Finished goods

0

-

0

-

0

-

0

-

0

Other stocks

2,671,978

8.30

2,467,136

-20.66

3,109,495

-10.49

3,474,096

-8.83

3,810,696

Trade debtors

2,849,579

1.63

2,803,780

-1.15

2,836,521

22.94

2,307,255

102

1,137,318

Other amounts receivable

2,217

-97.27

81,322

3.06

78,906

-5.82

83,783

15981

521

Cash

14,461

269

3,910

-83.64

23,896

28.38

18,613

-21.16

23,608

Miscellaneous current assets

0

-

0

-

0

-

0

-

0

Total Assets

5,541,251

3.38

5,359,963

-11.46

6,053,432

2.84

5,886,463

18.01

4,987,985

Liabilities

 

 

 

 

 

 

 

 

 

Total shareholder equity

288,510

4.93

274,958

-0.04

275,064

-1.78

280,059

-24.05

368,719

Issued share capital

18,592

0

18,592

0.00

18,592

0

18,592

0.00

18,592

Share premium account

-

-

-

-

-

-

-

-

-

Revaluation reserve

-

-

-

-

-

-

-

-

-

 

 

Reserves

269,918

5.29

256,366

-0.04

256,472

-1.91

261,467

-25.32

350,127

Provisions for Liabilities & Charges

0

-

0

-

0

-

0

-

0

Deffered taxes

-

-

-

-

-

-

-

-

-

Creditors

5,252,741

3.30

5,085,005

-12.00

5,778,369

3.07

5,606,405

21.37

4,619,267

Other long term loans

-

-

140,003

0.00

140,003

0

140,003

-13.47

161,806

Long term group loans

-

-

-

-

-

-

-

-

-

Other long term liabilities

0

-

0

-

0

-

0

0

-1

Total long term debts

0

-100

140,003

0.00

140,003

0

140,003

-13.47

161,805

Current portion of long term debt

-

-

20,976

-23.99

27,596

-21.75

35,266

16.28

30,329

Financial debts

-

-

-

-

8

-92.22

96

-92.42

1,271

Trade creditors

5,178,992

5.72

4,898,606

-12.22

5,580,304

3.65

5,383,571

23.83

4,347,592

Amounts Payable for Taxes, Remuneration & Social Security

-

-

-

-

5,039

-73.55

19,049

-44.53

34,339

Miscellaneous current liabilities

73,749

190

25,420

0.00

25,420

-10.56

28,420

-35.31

43,930

Total current liabilities

5,252,741

6.22

4,945,002

-12.30

5,638,366

3.15

5,466,402

22.63

4,457,461

Total Liabilities

5,541,251

3.38

5,359,963

-11.46

6,053,432

2.84

5,886,463

18.01

4,987,985

 

RATIO  ANALYSIS

 

 

 

 

 

 

 

 

 

 

Trading  Performance

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

1.31

13100

-0.01

7.14

-0.14

6.48

-2.16

26.57

-8.13

Return  on  capital  employed

4.27

14233

-0.03

2.50

-1.20

5.60

-21.42

97.85

-21.89

Return  on  total  assets  employed

0.22

-

0.00

0

-0.08

5.23

-1.53

65.67

-2.33

Return  on  net  assets  employed

4.27

10675

-0.04

2.20

-1.82

5.66

-32.13

-2.03

-31.49

Sales  /  net  working  capital

3.29

-10.60

3.68

-56.45

8.45

-15.33

9.98

260

2.77

Stock  turnover  ratio

284.80

74.63

163.09

81.88

89.67

7.48

83.43

-68.74

266.87

Creditor  days

2,082.73

80.57

1,153.42

95.99

588.51

27.08

463.12

-55.24

1,034.59

Debtor  days

1,108.61

63.87

676.52

126

298.57

47.63

202.24

-30.43

290.71

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.05

-2.78

1.08

0.93

1.07

-0.93

1.08

-3.57

1.12

Liquidity  ratio  /  acid  ratio

0.55

-5.17

0.58

11.54

0.52

18.18

0.44

69.23

0.26

Current  debt  ratio

18.21

1.28

17.98

-12.29

20.50

5.02

19.52

61.46

12.09

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

14,351

1967

694

16.54

-4,196

5.64

-74,358

73.34

-101,388

Net  worth

288,510

4.93

274,958

-0.04

275,064

-1.78

280,059

-24.05

368,719

 

Long Term Stability

Gearing

-

-

58.55

-3.91

60.93

-2.70

62.62

19.39

52.45

Equity  in  percentage

5.21

1.56

5.13

13.00

4.54

-4.62

4.76

-35.59

7.39

Total  debt  ratio

18.21

-1.51

18.49

-11.99

21.01

4.95

20.02

59.78

12.53

Working  capital

285,494

-30.56

411,146

0.17

410,452

-1.65

417,344

-18.91

514,683

 

Profit  &  Loss

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

938,201

-37.98

1,512,720

-56.38

3,467,572

-16.73

4,164,124

191

1,427,948

Total  operating  expenses

907,621

-41.45

1,550,169

-55.21

3,460,953

-18.43

4,242,962

176

1,533,815

Gross  Operating  Margin

43,736

593

-7,366

-138

19,074

-47.79

36,530

55.10

-66,296

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

11,106

-56.46

25,507

200

8,488

-59.97

21,203

-3.32

21,931

Wages  and  salary

9,448

-55.60

21,280

259

5,913

-64.22

16,525

-22.35

21,281

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

1,590

-60.19

3,994

55.12

2,575

-33.17

3,853

767

444

Other  employee  costs

68

-70.82

233

-

0

-100

826

300

206

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

799

0

799

-0.04

799

-94.41

14,302

-2.94

14,735

Operating  result

30,580

81.66

-37,449

-665

6,618

8.40

-78,837

74.47

-105,867

Total  financial  income

809

-98.23

45,677

1691640

3

-92.60

36

82.45

20

Total  financial  expenses

19,059

128

8,333

-28.26

11,616

3.82

11,189

8.89

10,276

Results  on  ordinary  operations  before taxation

12,330

11742

-105

2.10

-4,995

5.55

-89,990

77.50

-116,123

Extraordinary  Income

1,222

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

1,222

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

13,552

12906

-105

2.10

-4,995

5.55

-89,990

77.50

-116,123

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-1,330

-

-

Results  on  ordinary  operations  after taxation

12,330

11742

-105

2.10

-4,995

5.63

-88,660

76.35

-116,123

Net result

13,552

12906

-105

2.10

-4,995

5.63

-88,660

76.35

-116,123

Profit (Loss) for the year to be appropriated

13,552

12906

-105

2.10

-4,995

5.63

-88,660

76.35

-116,123

Dividends

-

-

-

-

-

-

-

-

-

 

 

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

680

Total

680

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

11,106

Total

11,106

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

1,392

Personnel  Charges

25,507

Benefits  In  Addition  To  Wages

-

 

 

Payment information

 

Payment expectations

Payment expectation days

2082.73

 

Day sales outstanding

1108.61

 

 

 

 

Industry comparison

 

Activity code

46480

 

Activity description

Wholesale of watches and jewellery

 

Industry average payment expectation days

243.57

 

Industry average day sales outstanding

360.36

 

 

 

Industry quartile analysis

 

Payment expectations

 

Company result

2082.73

Lower

127.92

Median

63.24

Upper

18.68

 

Day sales outstanding

 

Company result

1108.61

Lower

118.84

Median

55.41

Upper

21.23

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholder found

Minority Interests

No minority interests found

 

Companies that match this address

No Companies Match this address

 

Summons

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

24/03/2014

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

27/01/2014

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

28/10/2013

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

23/09/2013

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

26/11/2012

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

26/03/2012

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

23/01/2012

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

13/09/2010

 

 

Court  type

 

Court  name

Antwerpen

Creditor's  name

Rijksdienst  voor  Sociale  Zekerheid

3rd  party  type

Summoning  Party

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

 

Event  date

28/06/2010

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

17/05/2010

 

 

Court  type

 

Court  name

Antwerpen

Creditor's  name

Rijksdienst  voor  Sociale  Zekerheid

3rd  party  type

Summoning  Party

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

26/04/2010

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

22/02/2010

 

 

Court  type

 

Court  name

Antwerpen

Creditor's  name

Rijksdienst  voor  Sociale  Zekerheid

3rd  party  type

Summoning  Party

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

25/01/2010

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

21/12/2009

 

 

Court  type

 

Court  name

Antwerpen

Creditor's  name

Rijksdienst  voor  Sociale  Zekerheid

3rd  party  type

Summoning  Party

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

23/11/2009

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

26/10/2009

 

 

Court  type

 

Court  name

Antwerpen

Creditor's  name

Rijksdienst  voor  Sociale  Zekerheid

3rd  party  type

Summoning  Party

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

28/09/2009

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

 

 

 

 

Legal  event  type

Social  Security  Summons

 

 

Event  date

12/06/2007

 

 

Court  type

Court  name

Antwerpen

 

Creditor's  name

3rd  party  type

 

 

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

JOGANI  DEEPAK

Position

Principal  Manager

Start  Date

08/02/2008

Street

4 ANTON  VAN  DE  VELDELAAN  SCHOTEN

Post  code

2900

Country

Belgium

 

 

FORMER  DIRECTOR  DETAILS

 

 

Name

ASHOK  ADITYA

Position

Principal  Manager

Start  Date

19/01/2001

End  Date

Unknown  date

Street

 

Post  code

 

Country

 

 

 

Name

DEEPAK  JOYANI

Position

Principal  Manager

Start  Date

09/08/1997

End  Date

Unknown  date

Street

4 ANTON  VAN  DE  VELDELAAN  SCHOTEN

Post  code

2900

Country

Belgium

 

 

Name

DEEPAK  KESHAVIAL  JOGANI

Position

Principal  Manager

Start  Date

20/05/1997

End  Date

Unknown  date

Street

4 ANTON  VAN  DE  VELDELAAN  SCHOTEN

Post  code

2900

Country

Belgium


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.76

UK Pound

1

Rs.94.02

Euro

1

Rs.72.63

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

 

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.