MIRA INFORM REPORT

 

 

Report No. :

305681

Report Date :

31.01.2015

 

IDENTIFICATION DETAILS

 

Name :

PARV  BVBA

 

 

Registered Office :

Hoveniersstraat 30-BUS 269 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

29.06.2004

 

 

Com. Reg. No.:

866324717

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employees :

Not Available

 

 

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)

Belgium

A2

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

 

Company summary

 

Business  number

866324717

Branche  Unit  Number

2143582115

Company  name

PARV  BVBA

Address

HOVENIERSSTRAAT  30-BUS  269

 

2018 ANTWERPEN

Number  of  staff

0

Date  of  establishment

29/06/2004

Telephone  number

032399325

Fax  number

--

 

 

Commentary

 

The business  was  established  over  10  years  ago.

No employees  are  recorded  for  this  business.

The business  has  been  at  the  address  for  over  4  years.

Operating  Result  in  the  latest  trading  period  increased  167%  on  the  previous  trading  period.

A  79%  growth  in  Total  Assets  occurred  during  the  latest  trading  period.

Pre-tax  profits  increased  by  158%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  308%  during  the  latest  trading  period.

Turnover  in  the  latest  trading  period  increased  268%  on  the  previous  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

48,220,505

86,353

886,482

1,248,854

31/12/2012

13,080,150

33,358

820,050

1,198,663

31/12/2011

15,813,625

39,188

788,697

1,175,073

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

9,709,639

0

693,546

66,596

31/12/2012

5,398,715

0

693,546

31,553

31/12/2011

4,610,272

0

693,546

36,162

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

63.86

Industry  average  payment

124.23

Industry  average  day  sales

181.39

expectation  days

 

outstanding

 

Day  sales  outstanding

59.59

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                      No

PROTESTED BILLS

Bill amount                              -

NSSO DETAILS

Date of summons                     -

 

 

Company information

 

Business  number

866324717

Company  name

PARV  BVBA

Fax  number

 

Date  founded

29/06/2004

Company  status

active

Company  type

Private  Limited  Company (BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0866.324.717  Check  VAT number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor number

-

Contractor  description

Date  struck  off  register

-

 

 

Personnel (NSSO classification)

Code

-

Description

-

 

Joint Industrial Committee (JIC)

Significant  Events

 

Event  Date

24/10/2011

Event  Description

resignation-appointment  of  director(s)

Event  Details

Commentaar 17-12-2011: Benoemd tot zaakvoeder vanaf 17-12-2011: Shah Ajit.

 

 

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

183

-47.41

348

556

53

-68.38

168

-91.28

1,923

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

183

-47.41

348

556

53

-68.38

168

-48.10

323

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

183

-47.41

348

-

-

-

-

-

-

Furniture  &  Vehicles

-

-

-

-

53

-68.38

168

-48.10

323

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

1,600

Total  current  assets

9,709,456

79.86

5,398,367

17.10

4,610,219

-16.27

5,506,278

-35.12

8,487,502

Inventories

1,261,359

170

466,079

-54.17

1,016,952

22.51

830,087

-66.02

2,442,786

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

1,261,359

170

466,079

-54.17

1,016,952

22.51

830,087

-

0

Other  stocks

0

-

0

-

0

-

0

-100

2,442,786

Trade  debtors

7,872,180

64.25

4,792,786

51.47

3,164,096

-29.88

4,512,319

-22.60

5,829,725

Other  amounts  receivable

43,837

639

5,926

-44.30

10,639

7.80

9,870

123

4,423

Cash

528,766

308

129,561

-68.75

414,640

176

149,919

-27.66

207,248

Miscellaneous  current  assets

3,314

-17.48

4,016

3.18

3,892

-4.68

4,083

22.95

3,321

Total  Assets

9,709,639

79.85

5,398,715

17.10

4,610,272

-16.27

5,506,446

-35.14

8,489,425

 

 

LIABILITIES

Total  shareholders  equity

886,482

8.10

820,050

3.98

788,697

4.79

752,650

4.83

717,963

Issued  share  capital

693,546

0

693,546

0

693,546

0

693,546

0

693,546

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

192,936

52.51

126,504

32.95

95,151

60.99

59,104

142

24,417

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

8,823,157

92.70

4,578,665

19.81

3,821,575

-19.61

4,753,796

-38.83

7,771,462

Other  long  term  loans

362,555

-4.33

378,960

-1.93

386,429

3.27

374,195

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

362,555

-4.33

378,960

-1.93

386,429

3.27

374,195

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

-

-

-

-

1

-98.14

54

-

-

Trade  creditors

8,419,189

101

4,175,342

22.60

3,405,784

-21.66

4,347,429

-43.59

7,706,660

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

21,997

338

5,019

0.45

4,997

-34.01

7,572

-45.48

13,888

Miscellaneous  current  liabilities

19,416

0.38

19,343

-20.61

24,364

-0.74

24,546

-51.79

50,914

Total  current  liabilities

8,460,602

101

4,199,705

22.26

3,435,146

-21.56

4,379,600

-43.65

7,771,462

Total  Liabilities

9,709,639

79.85

5,398,715

17.10

4,610,272

-16.27

5,506,446

-35.14

8,489,425

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.18

-30.77

0.26

4.00

0.25

13.64

0.22

-

-

Return  on  capital  employed

6.91

148

2.78

-16.52

3.33

-3.76

3.46

9.49

3.16

Return  on  total  assets  employed

0.89

43.55

0.62

-27.06

0.85

19.72

0.71

162

0.27

Return  on  net  assets  employed

9.74

139

4.07

-18.11

4.97

-4.05

5.18

63.92

3.16

Sales  /  net  working  capital

38.61

253

10.91

-18.95

13.46

-14.92

15.82

-

-

Stock  turnover  ratio

2.62

-26.40

3.56

-44.63

6.43

37.98

4.66

-

-

Creditor  days

63.86

-45.34

116.83

48.20

78.83

-11.70

89.28

-

-

Debtor  days

59.59

-55.44

133.74

83.13

73.03

-20.95

92.39

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.15

-10.85

1.29

-3.73

1.34

6.35

1.26

15.60

1.09

Liquidity  ratio  /  acid  ratio

1.00

-14.53

1.17

11.43

1.05

-1.87

1.07

37.18

0.78

Current  debt  ratio

9.54

86.33

5.12

17.43

4.36

-25.09

5.82

-46.21

10.82

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

66,596

111

31,553

-12.74

36,162

3.79

34,842

115

16,167

Net  worth

886,482

8.10

820,050

3.98

788,697

4.79

752,650

4.83

717,963

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

40.90

-11.49

46.21

-5.69

49.00

-1.45

49.72

-

-

Equity  in  percentage

9.13

-39.89

15.19

-11.22

17.11

25.16

13.67

61.58

8.46

Total  debt  ratio

9.95

78.32

5.58

15.05

4.85

-23.26

6.32

-41.59

10.82

Working  capital

1,248,854

4.19

1,198,663

2.01

1,175,073

4.30

1,126,678

57.35

716,040

 

 

PROFIT & LOSS

Operating  Income

48,220,629

268

13,080,762

-17.29

15,814,874

-11.28

17,826,143

-

-

Turnover

48,220,505

268

13,080,150

-17.29

15,813,625

-11.29

17,826,143

-

-

Total  operating  expenses

48,124,095

268

13,044,160

-17.29

15,770,044

-11.27

17,773,289

-

-

Gross  Operating  Margin

-

-

-

-

-

-

-

-

28,788

Operating  Charges

48,124,219

268

13,044,771

-17.29

15,771,293

-11.26

17,773,289

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

30,955

-

-

-

-

Amortization  and  depreciation

165

-17.33

200

73.57

115

-25.97

155

-18.91

192

Operating  result

96,410

167

35,990

-17.42

43,581

-17.54

52,854

97.50

26,762

Total  financial  income

26

-40.20

43

-24.54

57

-76.77

245

76562

0

Total  financial  expenses

10,083

276

2,676

-39.87

4,450

-68.40

14,084

247

4,048

Results  on  ordinary  operations  before taxation

86,353

158

33,358

-14.88

39,188

0.44

39,015

71.77

22,714

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

86,353

158

33,358

-14.88

39,188

0.44

39,015

71.77

22,714

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

19,922

894

2,004

-36.23

3,142

-27.41

4,328

-35.76

6,738

Results  on  ordinary  operations  after taxation

66,431

111

31,354

-13.02

36,046

3.92

34,687

117

15,976

Net  result

66,431

111

31,354

-13.02

36,047

3.92

34,687

117

15,976

Profit  (Loss)  for  the  Year  to  be appropriated

66,431

111

31,354

-13.02

36,047

3.92

34,687

117

15,976

Dividend

-

-

-

-

-

-

-

-

-

 

 

Industry comparison

 

Activity code                            46761

Activity description                  Wholesale of diamonds and other precious stones

industry average credit

rating                                       64.48

Industry average credit limit     140177.31

 

 

Payment Information

 

Suspension of payments / moratorium history

Amount

-

Details

-

 

 

Payment  expectations

 

Payment  expectation  days

63.86

Day  sales  outstanding

59.59

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment expectation days

124.23

Industry average day sales outstanding

181.39

 

 

Industry quartile analysis

 

Payment expectations

Company  result

63.86

Lower

120.76

Median

74.93

Upper

46.53

 

Day sales outstanding

Company  result

59.59

Lower

102.27

Median

54.07

Upper

24.18

 

 

Shareholders details

 

Summary

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

Group Structure

No group structure for this company.

 

 

Minority Shareholders

No minority shareholders found

 

 

Minority Interests

No minority interests found

 

 

Companies that match this address

No Companies Match this address

 

 

Linked Companies

 

Summary

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

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

 

 

Director details

 

Name

VALLABHDAS  PATEL  MANSUKHLAL

Position

Principal  Manager

Start  Date

19/12/2014

Street

80 INGENIEUR  HASAERTLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Name

AJIT  SHAH

Position

Principal  Manager

Start  Date

10/09/2013

Street

127 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Former  director  details

 

Name

MANSUKHLAL  VALLABHDAS  PATEL

Position

Principal  Manager

Start  Date

03/08/2010

End  Date

31/12/2012

Street

80 INGENIEUR  HAESAERTSLAAN  EDEGEM

Post  code

2650

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.76

UK Pound

1

Rs.93.13

Euro

1

Rs.70.03

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIT

 

               

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.