MIRA INFORM REPORT
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Report No. : |
304490 |
|
Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
BLYCO TEXTILE GROUP B.V. |
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|
|
|
Registered Office : |
Marssteden 210, 7547TD Enschede |
|
|
|
|
Country : |
Netherland |
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|
|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
03.11.1988 |
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Com. Reg. No.: |
06059074 |
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|
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Legal Form : |
Private Company |
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Line of Business : |
·
Textile weaving ·
Wholesale of other non-food
consumer goods n.e.c. |
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|
|
|
No. of Employee : |
27 |
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 |
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|
|
|
Payment Behaviour : |
No complaints |
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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) |
|
Netherland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
NETHERLAND - 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 |
Blyco Textile Group B.V. |
|
Operative
address |
Marssteden 210 |
|
|
7547TD Enschede |
|
|
Netherlands |
|
Legal
form |
Besloten Vennootschap |
|
Registration
number |
KvK-nummer: 06059074 |
|
VAT-number |
008771339 |
|
Year |
2013 |
Mutation |
2012 |
Mutation |
2011 |
|
Fixed
assets |
1.878.483 |
330,80 |
436.048 |
7,70 |
404.888 |
|
Total
receivables |
1.109.973 |
39,69 |
794.590 |
18,51 |
670.507 |
|
Total
equity |
1.667.487 |
9,20 |
1.527.018 |
14,74 |
1.330.887 |
|
Short
term liabilities |
3.415.240 |
53,04 |
2.231.556 |
23,40 |
1.808.452 |
|
Working
capital |
1.152.754 |
-13,39 |
1.330.970 |
3,50 |
1.285.999 |
|
Quick
ratio |
0,34 |
-5,56 |
0,36 |
-5,26 |
0,38 |
Contact
information
|
Company
name |
Blyco Textile Group B.V. |
|
|
Trade
names |
Blyco Textile Group B.V. Martine & Elize |
|
|
Operative
address |
Marssteden 210 |
|
|
|
7547TD Enschede |
|
|
|
Netherlands |
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|
Correspondence
address |
Postbus 98 |
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|
|
7500AB Enschede |
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|
|
Netherlands |
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Telephone
number |
0534877411 |
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Fax
number |
0534334808 |
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Email
address |
info@blyco.com |
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|
Website |
www.blyco.com |
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Registration
|
|
|
Registration
number |
KvK-nummer: 06059074 |
|
Branch
number |
000020106718 |
|
VAT-number |
008771339 |
|
Status |
Active |
|
First
registration company register |
1988-11-03 |
|
Memorandum |
1988-01-26 |
|
Establishment
date |
1988-01-26 |
|
Legal
form |
Besloten Vennootschap |
|
Last
proposed admendment |
2011-09-16 |
|
Issued
placed capital |
EUR 18.000 |
|
Paid
up share capital |
EUR 18.000 |
Activities
|
SBI |
Textile weaving (1320) |
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||
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|
Wholesale of other non-food consumer goods n.e.c.
(46499) |
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Exporter |
Yes |
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Importer |
Yes |
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Goal |
Groothandel in textiel en aanverwante goederen alsmede decoratieve
artikelen. Tevens groothandel gespecialiseerd in de ontwikkeling en
distributie van textiel en textielproducten voor binnen en buiten (plus
folie). |
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Relations
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Shareholders |
Brofacon
B.V. |
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Marssteden 210 |
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7547TD ENSCHEDE Netherlands Registration number: 081451960000 Percentage: 100% |
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Companies
on same address |
D&B DecoDesign B.V. |
|
|
Registration number:
080583530000 |
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|
|
|
|
Brofacon B.V. Registration number:
081451960000 |
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|
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Brofagoed B.V. Registration number: 081797690000 |
Bank
details
|
Accounts |
Bank
BNP Paribas SA |
|
|
Account number: 63.03.04.791 |
Management
|
Active
management |
Brofacon
B.V. |
|
|
Marssteden 210 7547TD ENSCHEDE Netherlands Registration number:
081451960000 Competence: Fully authorized Function: Manager Starting date: 2006-03-24 |
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G.
Broek (Gerald) 7541 CH Netherlands Competence: Fully authorized
Function: Manager Starting date: 1994-04-01 Date of birth: 1962-08-14, Enschede, NL |
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A.S.L.
Fabels (Arno Stephan Laurents) 7559 LA Netherlands Competence: Fully authorized Function: Manager Starting date: 1994-04-01 Date of birth: 1967-04-28, Oldenzaal, NL |
Employees
|
Total
according to the Chamber of Commerce |
27 |
|
|
|
|
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Total |
27 |
23 |
22 |
23 |
23 |
Payments
|
Description |
Payments are made regularly no complaints are known |
Key
figures
|
|
|
|
|
|
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
Quick
ratio |
0,34 |
0,36 |
0,38 |
1,05 |
2,02 |
|
Current
ratio |
1,34 |
1,60 |
1,71 |
2,16 |
3,32 |
|
Working
capital/ balance total |
0,18 |
0,33 |
0,37 |
0,48 |
0,66 |
|
Equity
/ balance total |
0,26 |
0,38 |
0,38 |
0,48 |
0,59 |
|
Equity
/ Fixed assets |
0,89 |
3,50 |
3,29 |
4,83 |
9,41 |
|
Equity
/ liabilities |
0,35 |
0,62 |
0,61 |
0,91 |
1,45 |
|
Balance
total / liabilities |
1,35 |
1,62 |
1,61 |
1,91 |
2,45 |
|
Working
capital |
1.152.754 |
1.330.970 |
1.285.999 |
2.330.704 |
4.705.720 |
|
Equity |
1.667.487 |
1.527.018 |
1.330.887 |
2.295.679 |
4.250.960 |
|
Mutation
equity |
9,20 |
14,74 |
-42,03 |
-46,00 |
12,34 |
|
Mutation
short term liabilities |
53,04 |
23,40 |
-10,20 |
-0,64 |
19,21 |
Summary
|
The 2013 financial result structure is a postive working
captial of 1.152.754 euro, which is ingreement with 18 % of the total
assets of the company.
The working capital has diminished with -13.39 % compared to
previous year. The ratio, with respect to the total assets of the company has
however, declined.
The deterioration between 2012 and 2013 has mainly been
caused by an increase of the current liabilities.
The current ratio of the company in 2013 was 1.34. When the
current ratio is below 1.5, the company may have problems meeting its
short-term obligations.
The quick ratio in 2013 of the company was 0.34. A company
with a Quick Ratio of less than 1 cannot currently pay back its current
liabilities.
The 2012 financial result structure is a postive working
captial of 1.330.970 euro, which is in agreement with 33 % of the total assets
of the company.
The working capital has increase with 3.5 % 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 1.6. 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 0.36. A company
with a Quick Ratio of less than 1 cannot currently pay back its current
liabilities.
Financial
statement
|
Last
annual account |
2013 |
|
Remark
annual account |
The company is obliged to file its financial statements. |
|
Type
of annual account |
Corporate |
|
Annual
account |
Blyco Textile Group B.V. Marssteden 210 7547TD Enschede Netherlands Registration number: 060590740000 |
Balance
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End
date |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Intangible
fixed assets |
589.709 |
|
|
|
|
|
Tangible
fixed assets |
263.145 |
226.965 |
285.988 |
296.141 |
294.286 |
|
Financial
fixed assets |
1.025.629 |
209.083 |
118.900 |
178.834 |
157.364 |
|
Fixed
assets |
1.878.483 |
436.048 |
404.888 |
474.975 |
451.650 |
|
Total
stock |
3.421.026 |
2.755.907 |
2.401.067 |
2.233.096 |
2.641.556 |
|
Total
receivables |
1.109.973 |
794.590 |
670.507 |
2.084.395 |
4.041.070 |
|
Liquid
funds |
36.995 |
12.029 |
22.877 |
27.007 |
49.807 |
|
Current
assets |
4.567.994 |
3.562.526 |
3.094.451 |
4.344.498 |
6.732.433 |
|
Year |
2013 |
2012 |
2011 |
2010 |
2009 |
|
End
date |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Total
assets |
6.446.477 |
3.998.574 |
3.499.339 |
4.819.473 |
7.184.083 |
|
Issued
capital |
18.000 |
18.000 |
18.000 |
2.279.550 |
2.279.550 |
|
Share
premium reserve |
1.000.000 |
1.000.000 |
1.000.000 |
|
|
|
Other
reserves |
509.018 |
312.887 |
16.129 |
-248.591 |
1.504.627 |
|
Non-distributable
profit |
140.469 |
196.131 |
296.758 |
264.719 |
466.783 |
|
Total
reserves |
1.649.487 |
1.509.018 |
1.312.887 |
16.128 |
1.971.410 |
|
Total
equity |
1.667.487 |
1.527.018 |
1.330.887 |
2.295.679 |
4.250.960 |
|
Provisions |
|
|
|
30.000 |
120.010 |
|
Long
term interest yielding debt |
1.363.750 |
240.000 |
360.000 |
480.000 |
786.400 |
|
Long
term liabilities |
1.363.750 |
240.000 |
360.000 |
480.000 |
786.400 |
|
Short
term liabilities |
3.415.240 |
2.231.556 |
1.808.452 |
2.013.794 |
2.026.713 |
|
Total
short and long term liabilities |
4.778.990 |
2.471.556 |
2.168.452 |
2.523.794 |
2.933.123 |
|
Total
liabilities |
6.446.477 |
3.998.574 |
3.499.339 |
4.819.473 |
7.184.083 |
Summary
|
. |
The total assets of the company increased with 61.22 %
between 2012 and 2013.
The total asset increase is retrievable in the fixed asset
growth of 330.8 %. The asset growth has mainly been financed by a debt increase
of 93.36 %. The Net Worth, however, grew with 9.2 %.
In 2013 the assets of the company were 29.14 % composed of
fixed assets and 70.86 % by current assets. The assets are being financed by an
equity of 25.87 %, and total debt of 74.13 %.
The total assets of the company increased with 14.27 %
between 2011 and 2012. The fixed asset growth of 7.7 % is lower than the total
asset growth. The asset growth has mainly been financed by a Net Worth increase
of 14.74 %. Debt, however, grew with 13.98 %.
In 2012 the assets of the company were 10.91 % composed of
fixed assets and 89.09 % by current assets. The assets are being financed by an
equity of 38.19 %, and total debt of 61.81 %.
Analysis
|
Branch (SBI) |
MANUFACTURE
OF TEXTILES (13) |
|
Region |
Twente |
In the Netherlands 2146 of the companies are registered with
the SBI code 13 In the region Twente 127 of the companies are registered with
the SBI code 13 In the Netherlands 34 of the bankrupcties are published within
this sector In the region Twente 3 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 Twente is normal
Publications
|
Filings |
04-06-2014: De jaarrekening over 2013 is gepubliceerd. |
|
|
29-03-2013: De jaarrekening over 2012 is gepubliceerd. |
|
|
23-05-2012: De jaarrekening over 2011 is gepubliceerd. |
|
|
01-06-2011: De jaarrekening over 2010 is gepubliceerd. |
|
|
09-08-2010: De jaarrekening over 2009 is gepubliceerd. |
|
Amendments |
20-09-2011: Geplaatst kapitaal gewijzigd in EUR
18.000,00 Gestort kapitaal gewijzigd in EUR 18.000,00. 20-09-2011: Per 16-9-2011 statuten gewijzigd. |
|
Other |
15-07-2011: Datum deponering: 15-07-2011 Soort
deponering: Besluit tot kapitaalvermindering (art. 100 lid 1/209 lid 1 BW2). |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.69 |
|
|
1 |
Rs.93.32 |
|
Euro |
1 |
Rs.71.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.