|
Report No. : |
304040 |
|
Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
GENESIS DIAMONDS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.04.1991 |
|
|
|
|
Com. Reg. No.: |
443767872 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALE OF WATCHES AND JEWELLERY |
|
|
|
|
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 |
A1 |
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 |
443767872 |
|
Company name |
GENESIS DIAMONDS BVBA |
|
Address |
HOVENIERSSTRAAT 2 |
|
|
2018 ANTWERPEN |
|
Number of staff |
1 |
|
Date of establishment |
02/04/1991 |
|
Telephone number |
032343160 |
|
Fax number |
32343184 |
The business was established over 23 years ago.
The business has 1 employees.
The business is part of a group.
This business has a foreign parent business.
The business has been at the address for over 23 years.
Turnover in the latest trading period increased 27% on the previous trading period.
DATE OF LATEST ACCOUNTS TURNOVER PROFIT BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 101,251,294 247,477 4,099,506 12,280,716
31/12/2012 79,688,871 253,432 3,930,273 8,542,188
31/12/2011 127,502,349 338,139 3,762,951 8,508,115
DATE OF LATEST ACCOUNTS TURNOVER PROFIT BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 101,251,294 247,477 4,099,506 12,280,716
31/12/2012 79,688,871 253,432 3,930,273 8,542,188
31/12/2011 127,502,349 338,139 3,762,951 8,508,115
Court action type no
Past payments Payment
expectation days 4 2.05
Industry average payment
expectation days 246.53 Industry
average day sales
outstanding 354.40
Day sales outstanding 67.72
Business number 443767872
Company name GENESIS DIAMONDS
BVBA
Fax number 32343184
Date founded 02/04/1991
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
VATNumber BE.0443.767.872
Check
Social Balance Sheet Total
During the reporting year
ended 31-12-2013
Full-time Employees 1
Part-time Employees 1
Total Fte Employees 2
Number of hours worked
Full-time Employees 1,870
Part-time Employees 1,266
Total 3,136
Personnel Charges
Full-time Employees -
Part-time Employees -
Total 67,189
Benefits In Addition To Wages -
During the previous reporting year
Average number employees in Fte 2
Actual working hours 4,114
Personnel Charges 80,160
Benefits In Addition To Wages -
JIC Code 218
Description Additional national joint committee for the employees
category
JIC Code 324
Description Joint committee for the industry and the trade in diamant
category
|
Annual
accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry
average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
101,251,294 |
27.06 |
79,688,871 |
-37.50 |
127,502,349 |
43,407,828 |
133 |
|
Total
operating expenses |
100,538,880 |
27.17 |
79,061,144 |
-37.58 |
126,661,764 |
43,309,357 |
132 |
|
Operating
result |
712,414 |
13.49 |
627,727 |
-25.32 |
840,585 |
25,680 |
2674 |
|
Total
financial income |
30,041 |
223 |
9,291 |
38.87 |
6,690 |
60,595 |
-50.42 |
|
Total
financial expenses |
494,978 |
29.04 |
383,585 |
-24.66 |
509,136 |
128,224 |
286 |
|
Results on ordinary
operations before taxation |
247,477 |
-2.35 |
253,432 |
-25.05 |
338,139 |
-48,004 |
515 |
|
Taxation |
84,035 |
-4.35 |
87,858 |
-24.28 |
116,032 |
71,796 |
17.05 |
|
Results on
ordinary operations after taxation |
163,442 |
-1.29 |
165,574 |
-25.45 |
222,107 |
-98,684 |
165 |
|
Extraordinary
items |
5,162 |
361 |
1,120 |
- |
0 |
132,729 |
-96.11 |
|
Other
appropriations |
628.51 |
0 |
628.51 |
0 |
628.51 |
- |
- |
|
Net result |
169,232 |
1.14 |
167,322 |
-24.88 |
222,735 |
34,098 |
396 |
|
Gross Operating
Margin |
- |
- |
- |
- |
- |
56,641 |
- |
|
Dividends |
- |
- |
- |
- |
- |
190,216 |
- |
|
Director
remuneration |
123,456 |
-7.20 |
133,040 |
- |
- |
114,333 |
7.98 |
|
Employee
costs |
67,189 |
-16.18 |
80,160 |
8.41 |
73,941 |
202,143 |
-66.76 |
|
Wages and salary |
53,688 |
-14.73 |
62,966 |
9.03 |
57,748 |
155,828 |
-65.55 |
|
Employee pension costs |
- |
- |
- |
- |
- |
2,674 |
- |
|
Social security contributions |
8,878 |
-28.19 |
12,364 |
6.48 |
11,612 |
41,634 |
-78.68 |
|
Other employee costs |
4,623 |
-4.29 |
4,830 |
5.46 |
4,580 |
6,266 |
-26.22 |
|
Amortization and depreciation |
48,574 |
2.63 |
47,331 |
1.91 |
46,443 |
22,329 |
117 |
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average
2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
3,779 |
-100 |
|
Tangible fixed assets |
966,987 |
-2.77 |
994,503 |
-3.81 |
1,033,870 |
202,086 |
378 |
|
Land & building |
892,341 |
-1.17 |
902,866 |
-1.15 |
913,392 |
407,961 |
118 |
|
Plant & machinery |
54,487 |
-20.97 |
68,942 |
-25.75 |
92,852 |
20,430 |
166 |
|
Furniture & Vehicles |
20,158 |
-11.17 |
22,694 |
-17.85 |
27,627 |
20,189 7,140 |
-0.15 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
310,656 28,177 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
6,631 |
-100 |
|
Financial fixed assets |
1,802 |
0.55 |
1,792 |
-9.59 |
1,982 |
590,149 |
-99 |
|
Total fixed assets |
968,789 |
-2.76 |
996,295 |
-3.82 |
1,035,853 |
545,801 |
77.50 |
|
Inventories |
15,312,381 |
-13.90 |
17,783,696 |
13.18 |
15,712,613 |
1,496,843 |
922 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
4,202,606 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
56 |
-100 |
|
Finished goods |
15,312,381 |
-13.90 |
17,783,696 |
13.18 |
15,712,613 |
838,207 |
1726 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
285,013 |
-100 |
|
Trade debtors |
18,785,815 |
8.84 |
17,260,739 |
0.02 |
17,258,045 |
1,949,075 |
863 |
|
Cash |
466,952 |
-11.88 |
529,912 |
-22.42 |
683,012 |
158,853 |
193 |
|
other amounts receivable |
8,044 |
-18.82 |
9,909 |
-23.64 |
12,978 |
324,048 |
-97.52 |
|
Miscellaneous current assets |
18,528 |
-21.36 |
23,559 |
6.23 |
22,179 |
58,257 |
-68.20 |
|
Total current assets |
34,591,719 |
-2.85 |
35,607,815 |
5.70 |
33,688,826 |
3,651,297 |
847 |
|
Total Assets |
35,560,508 |
-2.85 |
36,604,110 |
5.41 |
34,724,679 |
4,117,387
317,342 |
763 |
|
|
Trade
creditors |
11,583,173 |
-41.85 |
19,919,045 |
-7.58 |
21,552,640 |
1,001,529 |
1056 |
|
Short term group loans - - - - - - - |
||||||||
|
|
Financial
debts |
10,387,737 |
53.13 |
6,783,533 |
107 |
3,273,143 |
2,942,830 27,487 |
252 |
|
|
Current
portion of long term debt |
61,221 |
-3.08 |
63,168 |
6.04 |
59,571 |
157,532 16,861 |
-61.14 |
|
|
Amounts Payable for Taxes,
Remuneration & Social Security |
72,056 |
-27.13 |
98,877 |
8.60 |
91,045 |
9,364 - |
-16.98 |
|
|
Miscellaneous
current liabilities |
206,816 |
2.89 |
201,005 |
-1.62 |
204,312 |
-21.91 |
-- |
|
|
Total
current liabilities |
22,311,003 |
-17.57 |
27,065,627 |
7.49 |
25,180,712 |
2,413,705 |
824 |
|
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Long term
group loans |
- |
- |
- |
- |
- |
- |
-- |
|
|
Other long
term loans |
8,917,434 |
59.45 |
5,592,549 |
-2.99 |
5,764,728 |
424 |
-- |
|
|
Deffered
taxes |
15,032 |
-4.01 |
15,660 |
-3.86 |
16,289 |
43,829 21,654 |
-65.70 |
|
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
18,434 0 |
-100 |
|
|
Other long
term liabilities |
217,533 |
- |
0 |
- |
0 |
48,727 |
346 |
|
|
Total long
term debts |
9,149,999 |
63.15 |
5,608,209 |
-2.99 |
5,781,016 |
671,225 |
1263 |
|
SHAREHOLDERS
EQUITY |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Issued
share capital |
2,649,160 |
0 |
2,649,160 |
0 |
2,649,160 |
634,950 |
317 |
|
|
Share
premium account |
- |
- |
- |
- |
- |
291,370 |
- |
|
|
Reserves |
925,510 |
22.38 |
756,278 |
28.41 |
588,955 |
377,168 |
145 |
|
|
Revaluation
reserve |
524,835 |
0 |
524,835 |
0 |
524,835 |
532,509 |
-1.44 |
|
|
Total
shareholders equity |
4,099,506 |
4.31 |
3,930,273 |
4.45 |
3,762,951 |
1,032,457 |
297 |
|
|
Working
capital |
12,280,716 |
43.77 |
8,542,188 |
0.40 |
8,508,115 |
1,237,592 |
892 |
|
|
Cashflow |
217,806 |
1.47 |
214,654 |
-20.26 |
269,178 |
52,034 |
318 |
|
|
Net worth |
4,099,506 |
4.31 |
3,930,273 |
4.45 |
3,762,951 |
1,028,678 |
298 |
|
|
||||||||
|
|
Annual accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry
average 2013 |
% |
|
TRADING
PERFORMANCE |
||||||||
|
|
||||||||
|
|
Profit Before Tax |
0.24 |
-25.00 |
0.32 |
18.52 |
0.27 |
-13,00 |
1.85 |
|
|
Return on
capital employed |
1.87 |
-29.70 |
2.66 |
-24.86 |
3.54 |
388,00 |
-99 |
|
|
Return on
total assets employed |
0.70 |
1.45 |
0.69 |
-28.87 |
0.97 |
-1,00 |
70.00 |
|
|
Return on
net assets employed |
6.04 |
-6.36 |
6.45 |
-28.25 |
8.99 |
379,00 |
-98.41 |
|
|
Sales / net working capital |
8.24 |
-11.68 |
9.33 |
-37.76 |
14.99 |
-45,00 |
-99 |
|
|
Stock turnover ratio |
15.12 |
-32.26 |
22.32 |
81.17 |
12.32 |
53,00 |
-71.47 |
|
|
Debtor days |
67.72 |
-14.34 |
79.06 |
60.04 |
49.40 |
354,40 |
-80.89 |
|
|
Creditor days |
42.05 |
-54.27 |
91.96 |
48.06 |
62.11 |
246,53 |
-82.94 |
|
SHORT TERM
STABILITY |
||||||||
|
|
Current ratio |
1.55 |
17.42 |
1.32 |
-1.49 |
1.34 |
17,00 |
-98.40 |
|
|
Liquidity ratio / acid ratio |
0.86 |
30.30 |
0.66 |
-7.04 |
0.71 |
14,00 |
-93.86 |
|
|
Current debt ratio |
5.44 |
-21.04 |
6.89 |
2.99 |
6.69 |
97,00 |
-94.39 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM
STABILITY |
||||||||
|
|
Gearing |
472.41 |
49.26 |
316.50 |
30.91 |
241.76 |
74,00 |
538 |
|
|
Equity in percentage |
11.53 |
7.36 |
10.74 |
-0.92 |
10.84 |
-247,00 |
4.67 |
|
|
Total debt ratio |
7.67 |
-7.70 |
8.31 |
0.97 |
8.23 |
97,00 |
-92.09 |
Activity code 46480
Activity description Wholesale of watches and jewellery
Payment expectation days 42.05
Day sales outstanding 67.72
Industry comparison
Activity code 46480
Activity description Wholesale of watches and jewellery
Payment expectations
Company result 42.05
Lower 131.10
Median 63.03
Upper 19.84
Company result 67.72
Lower 123.40
Median 56.14
Upper 21.99
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 RONIL MAYANK MEHTA
Position Principal Manager
Start Date 09/08/2010
Street 24 VAN EYCKLEI ANTWERPEN
Post code 2018
Country Belgium
Name NILANG RAJNINKANT MEHTA
Position Principal Manager
Start Date 09/08/2010
Street 3 DE LANNOYLEI BRASSCHAAT
Post code 2930
Country Belgium
Name ALKESH PRATAPCHANDRA BHANSALI
Position Principal Manager
Start Date 09/08/2010
Street 24 VAN EYCKLEI ANTWERPEN
Post code 2018
Country Belgium
Name TEJPAL JAYANTILAL MEHTA
Position Principal Manager
Start Date 14/01/2000
End Date Unknown date
Street 25 BELGIËLEI ANTWERPEN
Post code 2018
Country Belgium
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.70 |
|
|
1 |
Rs.93.41 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.