MIRA INFORM REPORT

 

 

Report No. :

303658

Report Date :

19.01.2015

 

IDENTIFICATION DETAILS

 

Name :

MAJID SA

 

 

Registered Office :

Boulevard De Dixmude 51 1000 Bruxelles

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

26.04.1996

 

 

Com. Reg. No.:

457843364

 

 

Legal Form :

Public Limited Liability Company

 

 

Line of Business :

Retail sale in non-specialised stores with food, beverages or tobacco predominating

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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.

 

 

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 name and address

 

Business number                     457843364

Branche Unit Number               2076415157

Company name                        MAJID SA

Address                                   BOULEVARD DE DIXMUDE 51

1000 BRUXELLES

Number of staff                        0

Date of establishment               26/04/1996

Telephone number                   022193430

Fax number                              022230947

 

 

Commentary

 

The business was established over 18 years ago.

The business has 1 employees.

 

The business has been at the address for over 18 years.

Operating Result in the latest trading period decreased 363% on the previous trading period.

Net Worth decreased by 53% during the latest trading period.

Pre-tax profits decreased by 624% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 66% during the latest trading period.

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

TURNOVER

PROFIT BEFORE TAX                         NET WORTH

WORKING CAPITAL

31/12/2013

 

-128,265                                                   109,536

318,877

31/12/2012

 

24,444                                                       237,361

443,511

31/12/2011

3,019,777

30,532                                                       225,561

648,290

 

 

Accounts

 

DATE OF LATEST ACCOUNTS                     

BALANCE TOTAL

NUMBER OF EMPLOYEES                  CAPITAL

CASHFLOW

31/12/2013

1,512,437

0                                                                61,973

-88,955

31/12/2012

1,734,407

0                                                                61,973

41,152

31/12/2011

1,534,867

0                                                                61,973

47,202

 

 

Payment expectations

 

Past payments

 

Payment expectation days

-

 

Industry average payment  expectation days

46.26   

Industry average day sales

outstanding

46.54

 

 

 

NSSO DETAILS

Date of summons 19/09/2013

 

 

Company information

 

Business number                     457843364

Company name                        MAJID SA

Fax number                              022230947

Date founded                            26/04/1996

Company status                       active

Company type                          Public Limited Liability Company (BE)

Currency                                  Euro (€)

Date of latest accounts             31/12/2013

Activity code                            47113

Liable for VAT                          yes

Activity description                  Retail sale in non-specialised stores with food, beverages or tobacco predominating (sales area between 100 m² and less than 400 m²)

VAT Number                            BE.0457.843.364 Check VAT number

 

 

Joint Industrial Committee (JIC)

 

JIC Code

119

Description

Joint committee for the trade in food

category

JIC Code

218

Description

Additional national joint committee for the employees

category

 

 

Significant Events

 

Event Date

27/02/2014

Event Description

re-appointment of director(s)

Event Details

Commentaire 27-02-2014: Renouvellement du mandat d'administrateur de Marouani Abdelmajid

 

(ainsi comme administrateur delegue) et de Margoum Chahrazat pour une duree de six ans.

Event Date

27/02/2014

Event Description

Event Details

Suppression de la valeur nominale des actions. Les actions sont nominatives ou dematerialisees.

 

 

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

355,615

-10.83

398,799

16.31

342,887

-4.00

357,187

-8.49

390,334

 

 

 

 

 

 

 

 

 

 

Intangible fixed assets

2,130

-17.12

2,570

-14.62

3,010

-12.75

3,450

636

468

Tangible fixed assets

340,543

-11.15

383,288

16.88

327,936

-7.05

352,796

-9.29

388,924

Land & building

276,250

-2.75

284,050

-2.67

291,850

-2.60

299,650

-17.58

363,575

Plant & machinery

45,622

-17.80

55,498

2647

2,020

-60.70

5,140

-51.39

10,573

Furniture & Vehicles

18,671

-57.31

43,740

28.40

34,066

-29.04

48,006

224

14,776

Leasing & Other Similar Rights   -               -         -               -         -               -         -               - -

Other tangible assets

0

-

0

-

0

-

0

-

0

 

Financial fixed assets

12,941

0

12,941

8.37

11,941

1168

941

0

941

 

Total current assets

1,156,822

-13.39

1,335,608

12.05

1,191,980

13.03

1,054,596

-4.23

1,101,197

Inventories

840,552

-4.82

883,115

30.22

678,179

58.94

426,696

38.35

308,413

Raw materials & consumables    -               -         -               -         -               -         -               - -

Work in progress

0

-

0

-

0

-

0

-

0

 

Finished goods                         0 -                   0 -                    0 -                    0 -                    0

Other stocks                             840,552 -4.82    883,115 30.22    678,179 58.94    426,696 38.35    308,413

Trade debtors                           267,983 -32.93   399,567 -12.34 455,811 -14.95    535,905 -25.66   720,851Other amounts receivable                     43,378 13.87    38,095 561        5,760 -78.87      27,262 -29.60    38,728

Cash                                         4,910 -66.90     14,831 -71.60    52,230 -19.31    64,732 94.94     33,206

Miscellaneous current assets     0 - 0 - 0 - 0 - 0

Total Assets                              1,512,437 -12.80 1,734,407 13.00 1,534,867 8.72 1,411,782 -5.35 1,491,531

 

 

LIABILITIES

 

Total shareholders equity

111,666

-53.46

239,931

4.97

228,571

10.02

207,757

12.21

185,155

 

 

 

 

 

 

 

 

 

 

Issued share capital

61,973

0

61,973

0

61,973

0

61,973

0

61,973

Share premium account

-

-

-

-

-

-

-

-

 

Revaluation reserve                           -             -         -             -         -             -         -             - -

Reserves

Provisions for Liabilities & Charges

49,693 0

-72.08

177,957 0

6.82

166,597 0

14.28

145,783 0

18.35

123,181 0

 

Deffered taxes                                 -             -         -             -         -             -         -             - -

 

Creditors

1,400,770

-6.27

1,494,477 14.41

1,306,296

8.49

1,204,026

-7.83

1,306,376

 

 

 

 

 

 

 

 

 

 

Other long term loans

562,826

-6.57

602,380

-21.01

762,606

566

114,382

-45.98

211,741

Long term group loans

-

-

-

-

-

-

-

-

-

Other long term liabilities

0

-

0

-

0

-

0

-

0

Total long term debts

562,826

-6.57

602,380

-21.01

762,606

566

114,382

-45.98

211,741

 

 

 

 

 

 

 

 

 

 

Current portion of long term debt

2,592

-98.47

169,401

-15.77

201,111

-

-

-

-

Financial debts

-

-

1,495

-

-

-

757,457

23.58

612,939

Trade creditors

819,736

18.20

693,540

117

319,067

5.50

302,435

-36.92

479,471

Amounts Payable for Taxes, Remuneration & Social Security

-

-

3,044

0

3,044

-

-

-

-

Miscellaneous current liabilities Total current liabilities

15,617 837,945

-36.56 -6.07

24,617 892,097

20.27 64.08

20,468 543,690

-31.21 -50.10

29,752 1,089,644

1237 -0.46

2,224 1,094,635

 

Total Liabilities

1,512,437

-12.80

1,734,407 13.00

1,534,867

8.72

1,411,782

-5.35

1,491,531

 

ratio analysis 

                                                                                               

TRADING PERFORMANCE

Profit Before Tax

--

 

 

-

1.01

-

-

-

-

 

Return on capital employed

-19.02 -755

2.90

-5.84

3.08

-56.13

7.02

160

2.70

Return on total assets employed

-8.48 -701

1.41

-29.15

1.99

24.38

1.60

122

0.72

Return on net assets employed

-114.86 -1227

10.19

-23.73

13.36

22.79

10.88

88.24

5.78

Sales / net working capital

-

-

-

4.66

-

-

-

-

 

Stock turnover ratio

-

-

-

-

22.46

-

-

-

Creditor days

-

-

-

-

40.31        -

-

-

-

Debtor days

-

-

-

-

55.09         -

-

-

-

Current ratio

1.38

-8.00

1.50

-31.51

2.19

0.97

-3.96

1.01

Liquidity ratio / acid ratio

0.38

-25.49

0.51

-46.32

0.95

0.58

-19.44

0.72

Current debt ratio

7.50

101

3.72

56.30

2.38         -54.58     5.24

-11.34

5.91

Liquidity ratio reprocessed

-

-

-

-

- -

-

-

 

Cashflow

-88,955

-316

41,152

-12.82

47,202      -55.81 106,812

237

31,654

Net worth

109,536

-53.85

237,361

5.23

225,561 10.40

204,307

10.62

184,687

Gearing

506.35

57.11

322.29

-23.56

421.63

419.64

-5.78

445.40

Equity in percentage

7.39

-46.64

13.85

-7.17

14.92

14.75

18.76

12.42

Total debt ratio

12.54

101

6.23

8.92

5.72         -1.38

5.80

-17.85

7.06

Working capital

318,877

-28.10

443,511

-31.59

648,290 1849

-35,048

-634

6,562

 

 

Profit and loss

 

Operating Income                      - - - - - - - - -

Turnover                                   - - - -                                         3,019,777          - - - -

Total operating expenses           - - - -                                        2,889,429          - - - -

Gross Operating Margin             374,810 -37.01   595,010 71.07   347,825 -58.53    838,792 73.61    483,140

Operating Charges                    - - - - - - - - -

Employee costs                        - - - - - - - - -

Wages and salary                      - - - -- - - - -

Employee pension costs           - - - - - - - - -

Social security contributions      - - - - - - - - -

Other employee costs               0                      - 0                    - 0                                - 0                    - 0

Director remuneration                - - - - - - - - -

Amortization and depreciation    39,310 31.95     29,792 12.90    26,388 -68.66    84,211 301        20,949

Operating result                         -128,265 -363    48,597 -62.72    130,348 476      22,602 111       10,705

Total financial income                - - - - - - - - -

Total financial expenses            - -                     24,153 -75.80    99,816 - - - -

Results on ordinary

operations before taxation         -128,265 -624    24,444 -19.94   30,532 35.08     22,602 111        10,705

Extraordinary Income                 - - - - - - - - -

Extraordinary Charges               - - - - - - - - -

Extraordinary items                   0                      - 0                    - 0                    - 0        - 0

Results for the Year

Before Taxation                         -128,265 -624   24,444 -19.94   30,532 35.08    22,602 111            10,705

Other appropriations                  - - - - - - - - -

Taxation                                    - -                     13,084 34.64     9,717 - - - -

Results on ordinary

 operations after taxation           -128,265 -1229  11,360 -45.42  20,814 -7.91   22,602 111            10,705

Net result                                  -128,265 -1229   11,360 -45.42  20,814 -7.91   22,602 111            10,705

Profit (Loss) for the Year

to be appropiated                     -128,265 -1229    11,360 -45.42  20,814 -7.91   22,602 111             10,705

 

Industry comparison

 

Activity code

47113

Activity description

Retail sale in non-specialised stores with food, beverages or tobacco predominating (sales area between 100 m2 and less than 400 m2)

 

 

Payment Information

 

Payment Information Summary

Total number of Invoices available                                                                                                         8

Total number of Invoices paid within or up to 30 days after the due date                                               4

Total number of Invoices paid more than 30 days after the due date                                                      4

Total number of Invoices currently outstanding where the due date has not yet been reached   0

Total number of Invoices currently outstanding beyond the due date                                                     0

 

 

Industry comparison

 

Activity code                47113

Activity description      Retail sale in non-specialised stores with food, beverages or tobacco predominating (sales area between 100 m² and less than 400 m²)

 

 

Industry quartile analysis

 

Payment expectations

Company result -

Lower                           26.56

Median                         6.53

Upper                           2.11

 

 

Day sales outstanding

 

Company result -

Lower                           46.18

Median                         20.35

Upper                           6.27

 

 

Shareholder Details

 

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                     Rahma                                      Middle name -

Surname                      Zammouri

SHAREHOLDER DETAILS

Start date                     26/04/1996                                End date -

Percentage owned -

SHAREHOLDER ADDRESS

Street name                  Boulevard Emile Bockstael        House number 5

Minor town -                                                                 Postal town      Bruxelles

Post code                     1000                                         Country            Belgium

 

SHAREHOLDER NAME

Forename                     Abdelmajid                               Middle name -

Surname                      Marouani

SHAREHOLDER DETAILS

Start date                     26/04/1996 End date -

Percentage owned -

SHAREHOLDER ADDRESS

Street name                  Avenue Firmin Lecharlier            House number 6

Minor town                   -                                               Postal town      Bruxelles

Post code                     1090                                         Country            Belgium

 

Companies that match this address

no Companies Match this address

 

 

Summons

 

Legal event type           Social Security Summons

Event date                    19/09/2013

Court type                                            Court name Brussel

Creditor's name 3rd party type

Legal event type           Social Security Summons

Event date                    19/10/2006

Court type                                            Court name Brussel

 

Creditor's name 3rd party type

Legal event type           Social Security Summons

Event date                    16/06/2005

Court type                                            Court name Brussel

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                               ABDELMAJID MAROUANI

Position                          Chairman of the Board

Start Date                         22/01/2010

Date of birth                    24/08/1962

Street                               6 AVENUE FIRMIN LECHARLIER BRUXELLES

Post code                        1090

Country                           Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.89

UK Pound

1

Rs.93.92

Euro

1

Rs.72.01

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIS

 

               

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.