MIRA INFORM REPORT
|
Report No. : |
303076 |
|
Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHOEBY FRANCHISE B.V. |
|
|
|
|
Registered Office : |
Burgemeester Burgerslaan 40A 5245NH Rosmalen |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.06.1995 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 16078843 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale of Textile Products. |
|
|
|
|
No. of Employee : |
77 |
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 : |
No complaints |
|
|
|
|
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
FRANCHISE B.V.
Operative
address Burgemeester Burgerslaan
40A
5245NH Rosmalen
Netherlands
Legal
form Private
Company
Registration
number KvK-nummer: 16078843
VAT-number
803925207
|
Year |
2012 |
|
Mutation |
2011 |
|
Mutation |
2010 |
|
Fixed
assets |
14.110.352 |
|
13,85 |
12.394.339 |
|
124,10 |
5.530.595 |
|
Total
receivables |
68.841.120 |
|
52,78 |
45.058.850 |
t |
189,80 |
15.548.200 |
|
|
|||||||
|
Total
equity |
45.500.361 |
|
21,16 |
37.554.104 |
t |
32,06 |
28.436.706 |
|
Short
term liabilities |
29.730.051 |
* |
119,10 |
13.569.449 |
t |
105,56 |
6.601.215 |
|
|
|||||||
|
Net
result |
7.946.257 |
|
-12,85 |
9.117.398 |
|
-11,78 |
10.334.812 |
|
|
|||||||
|
Working
capital |
43.390.009 |
|
19,34 |
36.359.765 |
t |
58,73 |
22.906.111 |
|
Quick
ratio |
2,32 |
|
-30,33 |
3,33 |
s |
-12,14 |
3,79 |
Contact information
Company
name Shoeby Franchise B.V.
Trade
names Shoeby Franchise B.V.
Operative
address Burgemeester Burgerslaan
40A
5245NH Rosmalen
Netherlands
Correspondence
address Postbus 12
5240AA Rosmalen
Netherlands
Telephone
number 0735118019
Fax
number 0735113078
Email
address info@shoebyfranchise.nl
Website www.shoebyfashion.nl
Registration
Registration
number KvK-nummer: 16078843
Branch
number 000020074921
VAT-number
803925207
Status
Active
First
registration company register 1995-06-30
Memorandum
1995-06-27
Establishment
date 1995-06-27
Legal
form Private Company
Last
proposed admendment 1999-09-10
Issued
placed capital EUR 18.151
Paid
up share capital EUR 18.151
Activities
SBI
Wholesale of textile
products (46429)
Exporter
No
Importer
No
Goal
De handel in textiel- en
aanverwante goederen in een franchiseorganisatie
Relations
Shareholders
Shoeby-Shop
Holding B.V.
Burgemeester Burgerslaan 40a
5245NH ROSMALEN
Netherlands
Registration number: 160755430000
Percentage: 100%
Companies
on same address Lake Side
Franchise B.V.
Registration number:
020401290000
Shoeby-Shop B.V.
Registration number: 160544620000
Lake Side Rental B.V.
Registration number: 302274500000
VDR Fashion Group B.V.
Registration number: 610518290000
Bank
details
Accounts
ING Bank NV
Account number: 65.51.87.286
Management
Active
management Shoeby-Shop Holding B.V.
Burgemeester Burgerslaan 40a 5245NH ROSMALEN Netherlands
Registration number: 160755430000 Competence:
Fully authorized Function: Manager Starting date: 2000-11-16
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-Shop B.V.
Burgemeester Burgerslaan 40A 5245NH Rosmalen Netherlands
Registration number: 160544620000 Function:
Proxy
Employees
Total according to the Chamber of Commerce 77
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Total |
77 |
77 |
215 |
89 |
130 |
Payments
Description The payments are regular
Key
figures
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Quick
ratio |
2,32 |
3,33 |
3,79 |
2,93 |
1,35 |
|
Current
ratio |
2,46 |
3,68 |
4,47 |
3,81 |
1,87 |
|
|
|||||
|
Working
capital/ balance total |
0,50 |
0,58 |
0,65 |
0,53 |
0,33 |
|
Equity
/ balance total |
0,52 |
0,60 |
0,81 |
0,81 |
0,62 |
|
Equity
/ Fixed assets |
3,22 |
3,03 |
5,14 |
2,94 |
2,10 |
|
Equity
/ liabilities |
1,09 |
1,52 |
4,31 |
4,25 |
1,66 |
|
Balance
total / liabilities |
2,09 |
2,52 |
5,31 |
5,25 |
2,66 |
|
|
|||||
|
Working
capital |
43.390.009 |
36.359.765 |
22.906.111 |
11.945.791 |
5.980.624 |
|
Equity |
45.500.361 |
37.554.104 |
28.436.706 |
18.101.894 |
11.417.464 |
|
Mutation
equity |
21,16 |
32,06 |
57,09 |
58,55 |
156,49 |
|
Mutation
short term liabilities |
119,10 |
105,56 |
55,13 |
-38,14 |
6,49 |
|
|
|||||
|
Return
on total assets (ROA) |
9,11 |
14,63 |
29,50 |
29,90 |
35,55 |
|
Return
on equity (ROE) |
17,46 |
24,28 |
36,34 |
36,93 |
56,97 |
|
Gross
margin |
24.417.556 |
26.451.441 |
27.900.595 |
22.700.830 |
18.494.640 |
|
Operating
result |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
Net
result after taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
|
|||||
|
Cashflow |
9.127.461 |
10.136.766 |
11.377.331 |
7.635.934 |
7.162.266 |
|
EBIT |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
EBITDA |
9.311.675 |
10.155.728 |
11.504.235 |
7.410.675 |
7.320.475 |
Summary The 2012
financial result structure is a postive working captial of 43.390.009 euro,
which is in agreement with 50 % of the total assets of the company.
The working capital has increase with 19.34 %
compared to previous year. The ratio with respect to the total assets of the
company has however, declined.
The improvement between 2011 and 2012 has
mainly been caused by a current liabilities reduction.
The current ratio of the company in 2012 was
2.46. A company with a current ratio between 1.5 and 3.0 generally
indicates good short-term financial strength.
The quick ratio in 2012 of the company was 2.32. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.
The 2011 financial result structure is a postive working captial of 36.359.765 euro, which is in agreement with 58 % of the total assets of the company.
The working capital has increase with 58.73 % compared to previous year. The ratio with respect to the total assets of the company has however, declined.
The improvement between 2010 and 2011 has mainly been caused by a current liabilities reduction.
The current ratio of the company in 2011 was 3.68. If the current ratio exeeds 3.0, the company may not be using its current assets or its short-term financing facilities efficiently .
The quick ratio in 2011 of the company was 3.33. A company with a Quick Ratio of more than 1 can 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
Franchise B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen
Netherlands
Registration number: 160788430000
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 |
591.021 |
673.724 |
781.303 |
837.719 |
448.482 |
|
Tangible
fixed assets |
3.842.789 |
3.039.957 |
3.163.734 |
4.086.204 |
3.998.115 |
|
Financial
fixed assets |
9.676.542 |
8.680.658 |
1.585.558 |
1.232.180 |
990.243 |
|
Fixed
assets |
14.110.352 |
12.394.339 |
5.530.595 |
6.156.103 |
5.436.840 |
|
|
|||||
|
Total
stock |
4.256.719 |
4.772.270 |
4.509.872 |
3.753.046 |
3.550.967 |
|
Accounts
receivable |
11.463.691 |
8.935.286 |
5.812.275 |
5.253.809 |
3.760.451 |
|
Other
receivables |
57.377.429 |
36.123.564 |
9.735.925 |
4.720.698 |
2.111.833 |
|
Total
receivables |
68.841.120 |
45.058.850 |
15.548.200 |
9.974.507 |
5.872.284 |
|
Liquid
funds |
22.221 |
98.094 |
9.449.254 |
2.473.576 |
3.436.300 |
|
Current
assets |
73.120.060 |
49.929.214 |
29.507.326 |
16.201.129 |
12.859.551 |
|
Total
assets |
87.230.412 |
62.323.553 |
35.037.921 |
22.357.232 |
18.296.391 |
|
Issued capital |
18.151 |
18.151 |
18.151 |
18.151 |
18.151 |
||
|
Other reserves |
45.482.210 |
37.535.953 |
28.418.555 |
18.083.743 |
11.399.313 |
||
|
Total reserves |
45.482.210 |
37.535.953 |
28.418.555 |
18.083.743 |
11.399.313 |
||
|
Total equity |
45.500.361 |
37.554.104 |
28.436.706 |
18.101.894 |
11.417.464 |
||
|
|
|||||||
|
Long term interest yielding debt |
12.000.000 |
11.200.000 |
|
|
|
||
|
Long term liabilities |
12.000.000 |
11.200.000 |
|
||||
|
Accounts payable |
8.493.859 |
4.208.889 |
4.057.856 |
2.214.573 |
3.411.029 |
||
|
Other short term liabilities |
21.236.192 |
9.360.560 |
2.543.359 |
2.040.765 |
3.467.898 |
||
|
Short term liabilities |
29.730.051 |
13.569.449 |
6.601.215 |
4.255.338 |
6.878.927 |
||
|
Total short and long term liabilities |
41.730.051 |
24.769.449 |
6.601.215 |
4.255.338 |
6.878.927 |
||
|
Total liabilities |
87.230.412 |
62.323.553 |
35.037.921 |
22.357.232 |
18.296.391 |
||
Summary The total assets of the
company increased with 39.96 % between 2011 and 2012.
The fixed asset growth of 13.85 % is lower
than the total asset growth.
The asset growth has mainly been financed by
a debt increase of 68.47 %. The Net Worth, however, grew with 21.16 %.
In 2012 the assets of the company were 16.18
% composed of fixed assets and 83.82 % by current assets. The assets are being
financed by an equity of 52.16 %, and total deb of 47.84 %.
The total assets of the company increased
with 77.87 % between 2010 and 2011.
The total asset increase is retrievable in
the fixed asset growth of 124.1 %.
The asset growth has mainly been financed by
a debt increase of 275.23 %. The Net Worth, however, grew with 32.06 %.
In 2011 the assets of the company were 19.89
% composed of fixed assets and 80.11 % by current assets. The assets are being
financed by an equity of 60.26 %, and total debt of 39.74 %.
Profit and
loss
|
Year |
2012 |
2011 |
2010 |
2009 |
2008 |
|
Gross
margin |
24.417.556 |
26.451.441 |
27.900.595 |
22.700.830 |
18.494.640 |
|
|
|||||
|
Wages
and salaries |
7.652.107 |
7.600.199 |
6.064.617 |
5.430.377 |
5.688.900 |
|
Amorization
and depreciation |
1.181.204 |
1.019.368 |
1.042.519 |
951.504 |
658.273 |
|
other
operating costs |
7.453.774 |
8.695.514 |
10.331.743 |
9.859.778 |
5.485.265 |
|
Operating
expenses |
16.287.085 |
17.315.081 |
17.438.879 |
16.241.659 |
11.832.438 |
|
Operating
result |
8.130.471 |
9.136.360 |
10.461.716 |
6.459.171 |
6.662.202 |
|
|
|||||
|
Financial
income |
|
277.239 |
|
262.733 |
|
|
Financial
expenses |
184.214 |
296.201 |
126.904 |
37.474 |
158.209 |
|
Financial
result |
-184.214 |
-18.962 |
-126.904 |
225.259 |
-158.209 |
|
Result
on ordinary operations before taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
|
|||||
|
Result
of ordinary activities after taxes |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
|
|
|||||
|
Net
result |
7.946.257 |
9.117.398 |
10.334.812 |
6.684.430 |
6.503.993 |
Summary The gross profit of the
company decreased by -7.69 % between 2011 and 2012.
The
operating result of the company declined with -11.01 % 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 -37.73 % of the analysed period, being equal to 2011 % in the year 2012.
The
Net Result of the company increased by -12.85 % between 2011 and 2012.
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 -28.09 % of the analysed period, being 17.46 %
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 -5.19 % between 2010 and 2011.
The
operating result of the company declined with -12.67 % 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 -50.41 % of the analysed period, being equal to 2010 % in the year 2011.
The
Net Result of the company increased by -11.78 % between 2010 and 2011.
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 -33.19 % of the analysed period, being 24.28 %
in the year 2011.
The company's financial profitability has been positively affected by
its financial structure.
Analysis
Branch
(SBI) Wholesale trade (no motor
vehicles and motorcycles) (46)
Region
Midden-Brabant
In the Netherlands 109662 of the companies
are registered with the SBI code 46
In the region Midden-Brabant 5737 of the
companies are registered with the SBI code 46
In the Netherlands 2387 of the bankrupcties
are published within this sector
In the region Midden-Brabant 108 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.
12-02-2010: De jaarrekening over 2008 is
gepubliceerd.
Mergers 10-07-2014: Op 01-07-2014 splitsingsakte
(afsplitsing) verleden. Splitsende rechtspersoon:
Shoeby Franchise B.V., 16078843 Verkrijgende
rechtspersoon: VDR Fashion Group B.V., 61051829.
28-05-2014: Splitsingsvoorstel: Op 27-05-2014
voorstel tot afsplitsing gedeponeerd.
Splitsende rechtspersoon: Shoeby Franchise
B.V., 16078843 Verkrijgende rechtspersoon: nieuw op te richten Besloten
Vennootschap: vdr fASHION Group B.V..
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
Franchise B.V.
Burgemeester Burgerslaan 40A
5245NH Rosmalen Netherlands
Registration number: 160788430000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
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.