MIRA INFORM REPORT

 

 

Report No. :

331523

Report Date :

15.07.2015

 

IDENTIFICATION DETAILS

 

Name :

PRISTINE DIAMONDS NV

 

 

Registered Office :

Hoveniersstraat 2-Bus 511, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

19.06.1998

 

 

Com. Reg. No.:

463650694

 

 

Legal Form :

Public Limited Liability Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employees :

2

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

 

Company summary

 

Business number                     463650694

Branche Unit Number               2087581936

Company name                        PRISTINE DIAMONDS NV

Address                                   HOVENIERSSTRAAT 2-BUS 511, 2018 ANTWERPEN

Number of staff                        2

Date of establishment               19/06/1998

Telephone number                   032341370

 

 

Commentary

 

The business was established over 17 years ago.

The business has 1 employees.

The business has been at the address for over 16 years.

Operating Result in the latest trading period decreased 55% on the previous trading period.

Pre-tax profits decreased by 58% compared to the previous trading period.

The business saw an increase in their Cash Balance of 116% during the latest trading period.

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

37,099,583

65,500

2,071,444

1,533,560

31/12/2012

46,375,921

157,942

2,120,960

1,674,629

31/12/2011

37,549,270

159,384

2,050,984

1,604,482

 

 

 

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

12,072,320

2

59,953

138,144

31/12/2012

13,036,411

2

62,665

199,629

31/12/2011

8,008,141

1

63,906

175,536

 

 

Payment expectations

 

Past payments

 

Payment expectation days

94.34

 

Industry average payment expectation days

105.30

Industry average day sales outstanding

183.16

 

Day sales outstanding

43.43

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

 

Court action type

no

 

 

 

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

--

 

 

 

 

 

Company information

 

Business  number

463650694

Company  name

PRISTINE  DIAMONDS  NV

Fax  number

 

Date  founded

19/06/1998

Company  status

active

Company  type

Public  Limited  Liability Company  (BE)

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.0463.650.694  Check  VAT Number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Joint Industrial Committee (JIC)

 

Significant Events

 

Event Date                    26/05/2009

Event Description         re-appointment of director(s)

Event Details                Commentaar 26-05-2009: Op de algemene vergadering werd beslist volgende bestuurders te herbenoemen voor een periode van 6 jaar: Ali abdul Bazzy (tevens gedelegeerd bestuurder), Mohammad Abdul Bazzy, Wassila Bazi.

 

 

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

821,767

1.32

811,072

12.29

722,271

30.67

552,744

4.23

530,295

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

816,496

1.36

805,563

12.41

716,653

30.75

548,122

4.27

525,665

Land  &  building

735,567

1.28

726,299

67.47

433,681

-4.13

452,382

-7.32

488,087

Plant  &  machinery

61,320

45.80

42,059

-23.47

54,956

45.31

37,820

7.53

35,171

Furniture  &  Vehicles

19,609

-47.29

37,205

-37.81

59,825

3.29

57,920

2306

2,407

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-100

168,191

-

0

-

0

Financial  fixed  assets

5,271

-4.32

5,509

-1.94

5,618

21.58

4,621

-0.19

4,630

Total  current  assets

11,250,553

-7.97

12,225,339

67.80

7,285,870

9.20

6,671,953

-14.79

7,830,009

Inventories

5,779,803

95.67

2,953,802

33.37

2,214,823

47.89

1,497,660

-70.48

5,073,277

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

5,779,803

95.67

2,953,802

33.37

2,214,823

47.89

1,497,660

-70.48

5,073,277

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

4,414,779

-49.70

8,777,408

130

3,816,040

-23.06

4,959,709

149

1,988,672

Other  amounts  receivable

143,125

95.50

73,210

316

17,563

627

2,415

-15.47

2,857

Cash

912,848

116

420,919

-65.98

1,237,443

483

212,170

-72.27

765,204

Miscellaneous  current  assets

-1

-

0

-100

1

100

-1

-

0

Total  Assets

12,072,320

-7.40

13,036,411

62.79

8,008,141

10.84

7,224,697

-13.58

8,360,304

LIABILITIES

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

2,071,444

-2.33

2,120,960

3.41

2,050,984

8.68

1,887,252

3.24

1,827,979

Issued  share  capital

59,953

-4.33

62,665

-1.94

63,906

3.27

61,880

-0.19

62,000

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

2,011,491

-2.27

2,058,295

3.58

1,987,078

8.86

1,825,372

3.36

1,765,979

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

10,000,876

-8.38

10,915,452

83.23

5,957,157

11.61

5,337,446

-18.29

6,532,326

Other  long  term  loans

283,883

-22.17

364,742

32.26

275,769

-17.41

333,913

0.35

332,756

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

0

-1

-

0

0

-1

0

-1

Total  long  term  debts

283,883

-22.17

364,741

32.26

275,769

-17.41

333,912

0.35

332,755

Current  portion  of  long  term  debt

65,074

-7.30

70,195

2.85

68,249

12.37

60,738

30.69

46,475

Financial  debts

-

-

-

-

-

-

-

-

-

Trade  creditors

9,568,860

-7.50

10,345,036

89.68

5,453,885

14.21

4,775,133

-19.79

5,953,361

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

6,688

-81.05

35,292

-33.70

53,227

189

18,366

-53.83

39,782

Miscellaneous  current  liabilities

76,371

-23.77

100,187

-5.51

106,027

-28.98

149,296

-6.66

159,952

Total  current  liabilities

9,716,993

-7.90

10,550,710

85.71

5,681,388

13.55

5,003,533

-19.29

6,199,570

Total  Liabilities

12,072,320

-7.40

13,036,411

62.79

8,008,141

10.84

7,224,697

-13.58

8,360,304

 

 

RATIO  ANALYSIS

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.18

-47.06

0.34

-19.05

0.42

90.91

0.22

29.41

0.17

Return  on  capital  employed

2.78

-56.22

6.35

-7.30

6.85

94.05

3.53

102

1.74

Return  on  total  assets  employed

0.54

-55.37

1.21

-39.20

1.99

82.57

1.09

142

0.45

Return  on  net  assets  employed

3.16

-57.58

7.45

-4.12

7.77

86.78

4.16

101

2.06

Sales  /  net  working  capital

24.19

-12.64

27.69

18.33

23.40

10.43

21.19

54.45

13.72

Stock  turnover  ratio

15.58

144

6.37

7.97

5.90

39.15

4.24

-81.31

22.68

Creditor  days

94.34

15.44

81.72

50.52

54.29

10.80

49.00

-47.88

94.02

Debtor  days

43.43

-37.13

69.08

86.25

37.09

-27.57

51.21

57.81

32.45

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

Current  ratio

1.16

0

1.16

-9.38

1.28

-3.76

1.33

5.56

1.26

Liquidity  ratio  /  acid  ratio

0.56

-36.36

0.88

-1.12

0.89

-13.59

1.03

134

0.44

Current  debt  ratio

4.69

-5.63

4.97

79.42

2.77

4.53

2.65

-21.83

3.39

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

138,144

-30.80

199,629

13.73

175,536

41.33

124,202

46.08

85,022

Net  worth

2,071,444

-2.33

2,120,960

3.41

2,050,984

8.68

1,887,252

3.24

1,827,979

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

Gearing

16.85

-17.84

20.51

22.30

16.77

-19.80

20.91

0.77

20.75

Equity  in  percentage

17.16

5.47

16.27

-36.47

25.61

-1.95

26.12

19.49

21.86

Total  debt  ratio

4.83

-6.21

5.15

77.59

2.90

2.47

2.83

-20.73

3.57

Working  capital

1,533,560

-8.42

1,674,629

4.37

1,604,482

-3.83

1,668,420

2.33

1,630,439

 

 

PROFIT  &  LOSS

 

Operating  Income

37,193,939

-20.02

46,504,413

23.78

37,569,465

6.21

35,372,836

57.98

22,390,394

Turnover

37,099,583

-20.00

46,375,921

23.51

37,549,270

6.21

35,353,800

58.05

22,369,081

Total  operating  expenses

37,023,117

-19.87

46,203,994

26.02

36,664,190

3.08

35,569,963

53.90

23,112,817

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

37,117,472

-19.89

46,332,486

26.30

36,684,385

3.08

35,588,998

53.84

23,134,130

Employee  costs

37,123

-13.72

43,024

35.65

31,717

15.04

27,570

3.79

26,564

Wages  and  salary

30,707

-3.65

31,871

28.61

24,781

14.45

21,653

4.95

20,632

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

4,839

-30.48

6,961

43.35

4,856

22.26

3,972

29.93

3,057

Other  employee  costs

1,576

-62.40

4,192

101

2,080

6.94

1,945

-32.35

2,875

Director  remuneration

-

-

-

-

-

-

123,426

16.46

105,985

Amortization  and  depreciation

98,168

9.26

89,849

22.10

73,586

19.86

61,394

2.67

59,796

Operating  result

76,466

-55.52

171,927

-80.57

885,080

409

-216,163

29.06

-743,736

Total  financial  income

16,863

69.39

9,955

73.77

5,729

-98.23

323,038

-60.14

810,457

Total  financial  expenses

27,829

16.24

23,940

-96.73

731,425

2477

28,378

-2.30

29,045

Results  on  ordinary  operations before taxation

65,500

-58.53

157,942

-0.90

159,384

103

78,497

108

37,676

Extraordinary  Income

1

-99

9,523

-

-

-

17,833

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

1

-99

9,523

-

0

-100

17,833

-

0

Results  for  the  Year  Before Taxation

65,501

-60.89

167,465

5.07

159,384

65.46

96,330

155

37,676

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

25,525

-55.75

57,685

0.44

57,434

71.33

33,522

169

12,450

Results  on  ordinary  operations after taxation

39,975

-60.13

100,257

-1.66

101,950

126

44,975

78.29

25,226

Net  result

39,976

-63.59

109,780

7.68

101,950

62.32

62,808

148

25,226

Profit  (Loss)  for  the  Year  to  be appropriated

39,976

-63.59

109,780

7.68

101,950

62.32

62,808

148

25,226

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social balance sheet details

 

Social  Balance  Sheet

 

Total

During  the  reporting  year

 

ended  31-12-2013

 

Full-time  Employees

2

Part-time  Employees

1

Total  Fte  Employees

2

 

 

Number  of  hours  worked

 

Full-time  Employees

1,611

Part-time  Employees

104

Total

1,715

 

 

Personnel  Charges

 

Full-time  Employees

34,872

Part-time  Employees

2,251

Total

37,123

 

 

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

2

Actual  working  hours

2,014

Personnel  Charges

41,162

 

Type  of  Contract

 

Full-Time

Part-Time

Total  Fte

Unlimited  Duration Contracts

2

1

2

 

Women

 

Full-Time

Part-Time

Total  Fte

Secondary  education

2

1

2

 

Working  Category

 

Full-Time

Part-Time

Total  Fte

White  collar  worker

2

-

2

Blue  collar  worker

-

1

0

 

Industry comparison

 

Activity code

46761

Activity description

Whole of diamonds and other precious stones

 

 

Payment expectations

 

Payment expectation days

94.34

Da sales outstanding

43.43

 

Industry comparison

 

Activity code

46761

Activity description

Whole of diamonds and other precious stones

Industry average payment expectation days

105.30

Industry average day sales outstanding

183.16

 

Industry quartile analysis

 

Payment expectations

 

Company result

94.34

Lower

118.99

Median

75.69

Upper

45.40

 

 

Day sales outstanding

 

Company result

43.43

Lower

102.58

Median

55.21

Upper

25.06

 

 

Shareholder details

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interest found

 

Protested Bills

There is no data for this company

 

Summons

There is no data for this company

 

Bankruptcy and other legal events

There is no data for this company

 

Companies that match this address

No companies match this address

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Name

ALI  ABDUL  BAZZY

Position

Managing  Director

Start  Date

13/09/2002

Date  of  birth

07/04/1969

Street

89 BARONES  LUDWINA  DE  BORREKENSLAAN  AARTSELAAR

Post  code

2630

Country

Belgium

 

 

Position

Director

Start  Date

13/09/2002

Date  of  birth

07/04/1969

Street

89 BARONES  LUDWINA  DE  BORREKENSLAAN  AARTSELAAR

Post  code

2630

Country

Belgium

 

 

Name

WASSILA  BAZI

Position

Director

Start  Date

13/09/2002

Street

124 FRUITHOFLAAN  ANTWERPEN

Post  code

2600

Country

Belgium

 

 

Name

WASSILA  BAZZI

Position

Director

Start  Date

13/09/2002

 

 

 

 

 

FORMER DIRECTOR DETAILS

 

Name

ALI  ABDUL  BAZZY

Position

Principal  Manager

Start  Date

19/06/1998

End  Date

13/09/2002

Date  of  birth

07/04/1969

Street

89 BARONES  LUDWINA  DE  BORREKENSLAAN  AARTSELAAR

Post  code

2630

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.50

UK Pound

1

Rs.98.20

Euro

1

Rs.69.73

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

               

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.