MIRA INFORM REPORT

 

 

Report No. :

325752

Report Date :

02.06.2015

 

IDENTIFICATION DETAILS

 

Name :

NAKODIAM BVBA

 

 

Registered Office :

Hoveniersstraat 30-Bus 152 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

26.11.1992

 

 

Com. Reg. No.:

448717743

 

 

Legal Form :

Private Limited Company (BL/LX)

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employee :

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 :

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 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                     448717743

Company name                        NAKODIAM BVBA

Address                                   HOVENIERSSTRAAT 30-BUS 152

2018 ANTWERPEN

Number of staff                        0

Date of establishment               26/11/1992

Telephone number                   037707771

Fax number                              032275727

 

 

Commentary

 

The business was established over 22 years ago.

No employees are recorded for this business.

The business has been at the address for over 10 years.

Operating Result in the latest trading period increased 58% on the previous trading period.

Pre-tax profits increased by 110% compared to the previous trading period.

The business saw an increase in their Cash Balance of 154% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

35,213

1,921,434

1,833,877

31/12/2012

 

16,740

1,901,896

1,825,144

31/12/2011

26,124,999

63,622

1,885,258

1,819,692

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

3,446,357

0

500,000

25,903

31/12/2012

3,279,816

0

500,000

22,841

31/12/2011

2,443,013

0

500,000

63,762

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

126.86

Industry  average  day  sales

184.52

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                -

 

NSSO DETAILS

Date of summons                     -

 

 

Company information

 

Business  number

448717743

Company  name

NAKODIAM  BVBA

Fax  number

032275727

Date  founded

26/11/1992

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.0448.717.743  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)

 

--

 

 

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

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

131,566

-4.61

137,931

-3.53

142,980

-8.09

155,565

-5.96

165,423

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

131,566

-4.61

137,931

-3.53

142,980

-8.09

155,565

-5.96

165,423

Land  &  building

128,282

-3.66

133,158

-3.53

138,035

-3.41

142,911

-3.30

147,787

Plant  &  machinery

3,284

-29.90

4,685

-1.60

4,761

-18.93

5,874

97.36

2,976

Furniture  &  Vehicles

0

-99

87

-52.51

184

-97.28

6,781

-53.75

14,660

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

Total  current  assets

3,314,791

5.50

3,141,885

36.60

2,300,033

-34.46

3,509,103

-4.27

3,665,791

Inventories

786,190

-60.32

1,981,312

109

944,095

81.35

520,579

-64.22

1,455,033

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-100

944,095

81.35

520,579

-64.22

1,455,033

Other  stocks

786,190

-60.32

1,981,312

-

0

-

0

-

0

Trade  debtors

1,643,278

102

809,579

3.95

778,841

-70.78

2,665,072

77.20

1,503,970

Other  amounts  receivable

4,326

82.73

2,367

51.70

1,561

-22.92

2,024

22.32

1,655

Cash

879,256

154

345,691

-39.75

573,741

79.51

319,618

-54.55

703,298

Miscellaneous  current  assets

1,741

-40.70

2,935

63.44

1,796

-0.77

1,810

-1.37

1,835

Total  Assets

3,446,357

5.08

3,279,816

34.25

2,443,013

-33.34

3,664,668

-4.35

3,831,214

 

 

LIABILITIES

 

Total  shareholders  equity

1,921,434

1.03

1,901,896

0.88

1,885,258

2.79

1,834,081

2.69

1,786,121

Issued  share  capital

500,000

0

500,000

0

500,000

0

500,000

0

500,000

Share  premium  account

-

-

-

-

-

 

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

1,421,434

1.39

1,401,896

1.20

1,385,258

3.84

1,334,081

3.73

1,286,121

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

1,524,923

10.67

1,377,920

147

557,755

-69.53

1,830,587

-10.49

2,045,093

Other  long  term  loans

44,009

-28.07

61,179

-20.97

77,414

-16.54

92,750

-18.72

114,111

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

44,009

-28.07

61,179

-20.97

77,414

-16.54

92,750

-18.72

114,111

Current  portion  of  long  term  debt

17,171

5.76

16,235

5.86

15,336

-28.20

21,360

-0.93

21,561

Financial  debts

54,016

-91.51

636,369

287602

221

-98.52

14,933

-82.30

84,370

Trade  creditors

1,263,062

151

503,205

76.94

284,395

-81.23

1,515,514

-7.60

1,640,204

Amounts  Payable  for  Taxes,

1,086

-76.47

4,614

-70.31

15,540

33.69

11,624

261

3,218

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

145,580

-6.87

156,317

-5.18

164,849

-5.48

174,406

-3.98

181,629

Total  current  liabilities

1,480,915

12.47

1,316,741

174

480,342

-72.36

1,737,836

-10.00

1,930,982

Total  Liabilities

3,446,357

5.08

3,279,816

34.25

2,443,013

-33.34

3,664,668

-4.35

3,831,214

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

-

-

-

-

0.24

41.18

0.17

-5.56

0.18

Return  on  capital  employed

1.79

110

0.85

-73.77

3.24

10.20

2.94

191

1.01

Return  on  total  assets  employed

1.02

100

0.51

-80.38

2.60

67.74

1.55

210

0.50

Return  on  net  assets  employed

1.83

107

0.88

-73.89

3.37

9.06

3.09

186

1.08

Sales  /  net  working  capital

-

-

-

-

14.36

-25.17

19.19

218

6.02

Stock  turnover  ratio

-

-

-

-

3.61

135

1.53

-89.01

13.92

Creditor  days

-

-

-

-

3.99

-75.54

16.31

-71.62

57.47

Debtor  days

-

-

-

-

10.88

-61.98

28.62

-45.52

52.53

 

 

SHORT  TERM  STABILITY

 

Current  ratio

2.24

-6.28

2.39

-50.10

4.79

137

2.02

6.32

1.90

Liquidity  ratio  /  acid  ratio

1.71

94.32

0.88

-68.79

2.82

63.95

1.72

50.88

1.14

Current  debt  ratio

0.77

11.59

0.69

176

0.25

-73.68

0.95

-12.04

1.08

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

25,903

13.41

22,841

-64.18

63,762

3.22

61,774

85.08

33,377

Net  worth

1,921,434

1.03

1,901,896

0.88

1,885,258

2.79

1,834,081

2.69

1,786,121

 

 

LONG TERM STABILITY

 

Gearing

6.00

-84.01

37.53

661

4.93

-29.97

7.04

-42.86

12.32

Equity  in  percentage

55.75

-3.86

57.99

-24.85

77.17

54.19

50.05

7.36

46.62

Total  debt  ratio

0.79

9.72

0.72

140

0.30

-70.00

1.00

-12.28

1.14

Working  capital

1,833,877

0.48

1,825,144

0.30

1,819,692

2.73

1,771,266

2.10

1,734,809

 

 

PROFIT & LOSS

 

Operating  Income

-

-

-

-

26,126,138

-23.14

33,993,755

225

10,451,100

Turnover

-

-

-

-

26,124,999

-23.15

33,993,755

225

10,451,100

Total  operating  expenses

-

-

-

-

26,029,644

-23.24

33,909,846

225

10,416,477

Gross  Operating  Margin

94,267

32.36

71,220

-

-

-

-

-

-

Operating  Charges

-

-

-

-

26,030,784

-23.24

33,909,846

225

10,416,478

Employee  costs

-

-

-

-

300

714

37

-76.40

156

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-100

300

714

37

-76.40

156

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

6,365

2.62

6,202

-50.72

12,585

-8.89

13,814

2.07

13,534

Operating  result

63,202

58.29

39,927

-58.13

95,355

13.64

83,910

142

34,623

Total  financial  income

-

-

19

-98.18

1,066

-15.88

1,268

126662

1

Total  financial  expenses

27,989

20.61

23,206

-29.25

32,799

15.28

28,452

85.26

15,358

Results  on  ordinary  operations  before

35,213

110

16,740

-73.69

63,622

12.16

56,726

194

19,266

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

15,565

-

-

-

-

-

-

-

-

Extraordinary  items

-15,565

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

19,648

17.37

16,740

-73.69

63,622

12.16

56,726

194

19,266

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

110

8.91

101

-99

12,446

41.98

8,766

1519

-577

Results  on  ordinary  operations  after

35,103

110

16,639

-67.49

51,177

6.71

47,960

141

19,843

taxation

 

 

 

 

 

 

 

 

 

Net  result

19,538

17.43

16,639

-67.49

51,177

6.71

47,960

141

19,843

Profit  (Loss)  for  the  Year  to  be appropiated

19,538

17.43

16,639

-67.49

51,177

6.71

47,960

141

19,843

Dividends

-

-

-

-

-

-

-

-

-

 

 

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

 

 

INDUSTRY COMPARISON

 

Activity code                            46761

Activity description                  Wholesale of diamonds and other precious stones

Industry average payment

expectation days                      126.86

Industry average day sales

Outstanding                             184.52

 

 

INDUSTRY QUARTILE ANALYSIS

 

Payment expectations

Company result            -

Lower                           118.95

Median                         74.35

Upper                           45.68

 

Day sales outstanding

 

Company result            -

Lower                           102.58

Median                         54.14

Upper                           24.31

 

 

Shareholder 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

 

CURRENT DIRECTOR DETAILS

 

Name

PRAVEEN  DASOT

Position

Principal  Manager

Start  Date

06/09/2011

Street

41 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

FORMER DIRECTOR DETAILS

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.61

UK Pound

1

Rs.97.27

Euro

1

Rs.69.63

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

 

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.