MIRA INFORM REPORT

 

 

Report No. :

303039

Report Date :

15.01.2015

 

IDENTIFICATION DETAILS

 

Name :

SHOEBY-SHOP B.V.

 

 

Registered Office :

Burgemeester Burgerslaan 40A, 5245NH Rosmalen

 

 

Country :

Netherland

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

01.01.1983

 

 

Com. Reg. No.:

16054462

 

 

Legal Form :

Besloten Vennootschap

 

 

Line of Business :

Shops selling outerwear and clothing accessories (non-specialised)

Retail sale of babies' and children's clothing (garments)

 

 

No. of Employee :

191

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NETHERLANDS ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009. To recover, the government sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

 

Source : CIA

 

 

 

 

Summary

 

Company name                                                Shoeby-Shop B.V.

Operative address                                            Burgemeester Burgerslaan 40A

5245NH Rosmalen

Netherlands

 

Legal form                                                       Besloten Vennootschap

Registration number                                        KvK-nummer: 16054462

VAT-number                                                     008202771

 

 

Year

2012

 

Mutation

2011

 

Mutation

2010

Fixed assets

3.170.135

 

-17,99

3.865.754

 

5,65

3.659.092

Total receivables

4.965.068

 

-63,26

13.514.744

 

357,64

2.953.156

 

Total equity

3.138.383

 

-37,56

5.026.178

 

-15,50

5.948.013

Short term liabilities

34.262.018

 

49,51

22.916.593

 

77,32

12.924.101

 

Net result

-1.887.795

 

-104,79

-921.835

 

-413,39

294.152

 

Working capital

-31.752

 

-102,74

1.160.424

 

-49,30

2.288.921

Quick ratio

0,93

 

 

0,93

 

-5,10

0,98

 

 

Contact information

 

Company name                                    Shoeby-Shop B.V.

Trade names                                        Shoeby Fashion

Shoeby Fashion en J & M

Shoeby Fashion en J/M

Shoeby Shops J & M

Shoeby-Shop B.V.

Shoeby

 

Operative address                                Burgemeester Burgerslaan 40A

5245NH Rosmalen

Netherlands

 

Correspondence address                     Postbus 12

5240AA Rosmalen

Netherlands

 

Telephone number                               0735118019

Email address                                      info@shoebyfranchise.nl

Website                                                www.shoebyfashion.nl

 

 

Registration

 

Registration number                                        KvK-nummer: 16054462

Branch number                                                000019091192

VAT-number                                                     008202771

 

Status                                                              Active

First registration company register                  1987-10-02

Memorandum                                                   1987-09-29

Establishment date                                          1983-01-01

 

Legal form                                                       Besloten Vennootschap

Last proposed admendment                             2011-03-22

 

Issued placed capital                                       EUR 18.160

Paid up share capital                                       EUR 18.160

 

 

Activities

 

SBI                   Shops selling outerwear and clothing accessories (non-specialised) (47713)

Retail sale of babies' and children's clothing (garments) (47714)

 

Exporter           No

Importer           No

 

Goal                 Het exploiteren van één of meer detailhandelsbedrijven op het gebied van heren-, dames-,

en kinderconfectie

 

Relations

 

Shareholders                                       Shoeby Franchise B.V.

Burgemeester Burgerslaan 40A

5245NH Rosmalen

Netherlands

Registration number: 160788430000

Percentage: 100%

 

Companies on same address               Lake Side Franchise B.V.

Registration number: 020401290000

 

Shoeby Franchise B.V.

Registration number: 160788430000

Lake Side Rental B.V.

Registration number: 302274500000

 

VDR Fashion Group B.V.

Registration number: 610518290000

 

 

Management

 

Active management                                  Shoeby Franchise B.V.

Burgemeester Burgerslaan 40A 5245NH Rosmalen Netherlands

Registration number: 160788430000 Competence: Fully authorized Function: Manager

Starting date: 2014-07-02

Shoeby-Shop Holding B.V.

Burgemeester Burgerslaan 40a 5245NH ROSMALEN Netherlands

Registration number: 160755430000 Competence: Fully authorized Function: Manager Starting date: 1997-01-16

J.J. den Arend (Johannes Jan)

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2005-01-24

Date of birth: 1961-07-06, Rotterdam, NL

Involved with the following companies

•   VDR Holding B.V.

Burgemeester Burgerslaan 40A 5245NH Rosmalen Netherlands

Registration number: 514500460000 Function: Manager

•   Lake Side Franchise B.V.

Burgemeester Burgerslaan 40A 5245NH Rosmalen Netherlands

Registration number: 020401290000 Function: Proxy

•   Shoeby Franchise B.V.

Burgemeester Burgerslaan 40A

5245NH Rosmalen Netherlands

 

Registration number: 160788430000

Function: Proxy

 

 

Employees

 

Total according to the Chamber of Commerce             191

 

Year

 

2014

2012

2011

2010

2009

Total

 

191

205

205

302

205

 

 

Payments

 

Description                              Payments made under regular condition

 

Key figures

 

Year

2012

2011

2010

2009

2008

Quick ratio

0,93

0,93

0,98

0,75

0,34

Current ratio

1,00

1,05

1,18

0,94

0,66

 

Working capital/ balance total

0,00

0,04

0,12

-0,05

-0,23

Equity / balance total

0,08

0,18

0,32

0,27

0,32

Equity / Fixed assets

0,99

1,30

1,63

0,85

0,58

Equity / liabilities

0,09

0,22

0,46

0,36

0,47

Balance total / liabilities

1,09

1,22

1,46

1,36

1,47

 

Working capital

-31.752

1.160.424

2.288.921

-996.228

-4.108.725

Equity

3.138.383

5.026.178

5.948.013

5.653.861

5.625.583

Mutation equity

-37,56

-15,50

5,20

0,50

24,68

Mutation short term liabilities

49,51

77,32

-16,73

30,08

111,25

 

Return on total assets (ROA)

-5,05

-3,30

1,56

0,13

4,31

Return on equity (ROE)

-60,15

-18,34

4,95

0,50

13,46

Gross margin

7.160.577

8.204.084

13.275.247

15.713.992

13.516.676

Operating result

-1.844.384

-786.077

461.824

165.713

901.542

 

Year

2012

2011

2010

2009

2008

Net result after taxes

-1.887.795

-921.835

294.152

28.278

756.931

 

Cashflow

-295.467

528.256

1.784.330

1.958.243

2.531.484

EBIT

-1.844.384

-786.077

461.824

165.713

901.542

EBITDA

-252.056

664.014

1.952.002

2.095.678

2.676.095

 

 

Summary

 

The 2012 financial result structure is a negative working captial of -31.752 euro, which is in agreement with 0 % of the total assets of the company.

The working capital has diminished with -102.74 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.

The deterioration between 2011 and 2012 has mainly been caused by an increase of the current liabilities.

The current ratio of the company in 2012 was 1. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

The quick ratio in 2012 of the company was 0.93. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

 

The 2011 financial result structure is a postive working captial of 1.160.424 euro, which is in agreement with 4 % of the total assets of the company.

The working capital has diminished with -49.3 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.

The deterioration between 2010 and 2011 has mainly been caused by an increase of the current liabilities.

The current ratio of the company in 2011 was 1.05. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

The quick ratio in 2011 of the company was 0.93. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

 

Financial statement

 

Last annual account                             2012

Remark annual account                        The company is obliged to file its financial statements.

 

Type of annual account                        Corporate

 

Annual account                                    Shoeby-Shop B.V.

Burgemeester Burgerslaan 40A

5245NH Rosmalen

Netherlands

Registration number: 160544620000

 

Balance

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Intangible fixed assets

245.478

283.494

599.881

746.112

1.538.735

Tangible fixed assets

2.844.543

3.489.312

2.953.998

5.826.013

8.195.573

Financial fixed assets

80.114

92.948

105.213

77.964

 

Fixed assets

3.170.135

3.865.754

3.659.092

6.650.089

9.734.308

 

Total stock

2.435.039

2.863.442

2.568.307

2.885.594

3.813.634

Accounts receivable

355.571

805.942

1.094.300

517.300

877.387

Other receivables

4.609.497

12.708.802

1.858.856

11.068.774

1.714.797

Total receivables

4.965.068

13.514.744

2.953.156

11.586.074

2.592.184

Liquid funds

26.830.159

7.698.831

9.691.559

53.204

1.417.102

Current assets

34.230.266

24.077.017

15.213.022

14.524.872

7.822.920

Total assets

37.400.401

27.942.771

18.872.114

21.174.961

17.557.228

 

Issued capital

18.151

18.151

18.151

18.151

18.151

Other reserves

3.120.232

5.008.027

5.929.862

5.635.710

5.607.432

Total reserves

3.120.232

5.008.027

5.929.862

5.635.710

5.607.432

Total equity

3.138.383

5.026.178

5.948.013

5.653.861

5.625.583

 

Accounts payable

162.214

235.603

133.353

212.548

 

Other short term liabilities

34.099.804

22.680.990

12.790.748

15.308.552

 

Short term liabilities

34.262.018

22.916.593

12.924.101

15.521.100

11.931.645

Total short and long term liabilities

34.262.018

22.916.593

12.924.101

15.521.100

11.931.645

Total liabilities

37.400.401

27.942.771

18.872.114

21.174.961

17.557.228

 

 

Summary

The total assets of the company increased with 33.85 % between 2011 and 2012.

Despite the assets growth, the non current assets decreased with -17.99 %.

Asset growth is in contrasts with the net worth decline of -37.56 %. The company's indebtedness has, therefore, increased with 49.51 %.

In 2012 the assets of the company were 8.48 % composed of fixed assets and 91.52 % by current assets. The assets are being financed by an equity of 8.39 %, and total debt of 91.61%.

 

The total assets of the company increased with 48.06 % between 2010 and 2011.

The fixed asset growth of 5.65 % is lower than the total asset growth.

Asset growth is in contrasts with the net worth decline of -15.5 %. The company's indebtedness has, therefore, increased with 77.32 %.

In 2011 the assets of the company were 13.83 % composed of fixed assets and 86.17 % by current assets. The assets are being financed by an equity of 17.99 %, and total debt of 82.01 %.

 

 

Profit and loss

 

Year

2012

2011

2010

2009

2008

Gross margin

7.160.577

8.204.084

13.275.247

15.713.992

13.516.676

 

Wages and salaries

3.720.219

3.811.181

4.532.220

5.542.319

5.896.162

Amorization and depreciation

1.592.328

1.450.091

1.490.178

1.929.965

1.774.553

other operating costs

3.692.414

3.728.889

6.791.025

8.075.995

4.944.419

Operating expenses

9.004.961

8.990.161

12.813.423

15.548.279

12.615.134

Operating result

-1.844.384

-786.077

461.824

165.713

901.542

 

Financial income

 

 

171.175

170.443

 

Financial expenses

43.411

135.758

338.847

307.878

144.611

Financial result

-43.411

-135.758

-167.672

-137.435

-144.611

Result on ordinary operations before taxes

-1.887.795

-921.835

294.152

28.278

756.931

 

Result of ordinary activities after taxes

-1.887.795

-921.835

294.152

28.278

756.931

 

Net result

-1.887.795

-921.835

294.152

28.278

756.931

 

 

Summary

The gross profit of the company decreased by -12.72 % between 2011 and 2012.

The operating result of the company declined with -134.63 % between 2011 and 2012. This evolution implies an decrease of the company's economic profitability.

The result of these changes is a reduction of the company's Economic Profitability of -53.03% of the analysed period, being equal to 2011 % in the year 2012.

The Net Result of the company increased by -104.79 % between 2011 and 2012.

The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of -227.97 % of the analysed period, being -60.15 % in the year 2012.

The company's financial profitability has been positively affected by its financial structure.

 

The gross profit of the company decreased by -38.2 % between 2010 and 2011.

The operating result of the company declined with -270.21 % between 2010 and 2011. This evolution implies an decrease of the company's economic profitability.

The result of these changes is a reduction of the company's Economic Profitability of -311.54% of the analysed period, being equal to 2010 % in the year 2011.

The Net Result of the company increased by -413.39 % between 2010 and 2011.

The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of -470.51 % of the analysed period, being -18.34 % in the year 2011.

The company's financial profitability has been positively affected by its financial structure.

 

Analysis

 

Branch (SBI)                 Retail trade (not in motor vehicles) (47)

 

Region                         Midden-Brabant

 

In the Netherlands 120043 of the companies are registered with the SBI code 47

In the region Midden-Brabant 5352 of the companies are registered with the SBI code 47

In the Netherlands 2540 of the bankrupcties are published within this sector

In the region Midden-Brabant 99 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Midden-Brabant is normal

 

 

Publications

 

Filings                                     08-01-2014: De jaarrekening over 2012 is gepubliceerd.

16-01-2013: De jaarrekening over 2011 is gepubliceerd.

05-10-2011: De jaarrekening over 2010 is gepubliceerd.

07-12-2010: De jaarrekening over 2009 is gepubliceerd.

10-02-2010: De jaarrekening over 2008 is gepubliceerd.

 

Functions                     09-07-2014: Per 02-07-2014 is bestuurder 16078843 Shoeby Franchise B.V. in functie

getreden.

 

Amendments                29-03-2011: Geplaatst kapitaal gewijzigd in EUR 18.160,00 Gestort kapitaal gewijzigd in EUR 18.160,00.

29-03-2011: Per 22-3-2011 statuten gewijzigd.

 

 

Company structure

 

Relations                      13

 

VDR Holding B.V.

Burgemeester Burgerslaan 40A

5245NH Rosmalen

Netherlands

Registration number: 514500460000

 

• Shoeby Retail Partners B.V.

Burgemeester Burgerslaan 40a

5245NH ROSMALEN

Netherlands

Registration number: 341343510000

• Shoeby-Shop Holding B.V.

Burgemeester Burgerslaan 40a

5245NH ROSMALEN

Netherlands

Registration number: 160755430000

 

• Shoeby-Shop B.V.

Burgemeester Burgerslaan 40A

5245NH Rosmalen

Netherlands

Registration number: 160544620000

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.75

UK Pound

1

Rs.94.01

Euro

1

Rs.72.63

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.