MIRA INFORM REPORT

 

 

Report No. :

326872

Report Date :

09.06.2015

           

IDENTIFICATION DETAILS

 

Name :

CRYSTAL GEMS BVBA

 

 

Registered Office :

Hoveniersstraat  2-Bus  229 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.07.1982

 

 

Com. Reg. No.:

422952068

 

 

Legal Form :

Private  Limited  Company (BL/LX)

 

 

Line of Business :

Wholesale of  Diamonds  And Other  Precious  Stones.

 

 

No. of Employee :

From  1  to  4  Employees

 

 

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 – 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 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

422952068

Branche  Unit  Number

2020684994

Company  name

CRYSTAL  GEMS  BVBA

Address

HOVENIERSSTRAAT  2-BUS  229

 

2018 ANTWERPEN

Number  of  staff

0

Date  of  establishment

01/07/1982

Telephone  number

032250685

Fax  number

032328176

 

 

Commentary

 

The  business  was  established  over  32  years  ago.

The  business  has  1  employees.

The  business  has  been  at  the  address  for  over  5  years.

Operating  Result  in  the  latest  trading  period  increased  514%  on  the  previous  trading  period

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

15,336,867

27,241

1,079,644

1,509,452

31/12/2012

14,379,815

25,952

1,058,201

1,460,933

31/12/2011

9,640,517

18,196

777,341

1,524,467

 

 

 

ACCOUNTS

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

4,590,731

0

18,592

23,877

31/12/2012

5,621,366

0

18,592

22,112

31/12/2011

4,980,555

0

18,592

16,646

 

 

Trends

 

Profitability

Liquidity

Net  worth

Payment expectations

 

Past  payments

 

Payment  expectation  days

25.64

Industry  average  payment

124.20

Industry  average  day  sales

181.51

expectation  days

 

outstanding

 

Day  sales  outstanding

75.33

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                –

 

NSSO DETAILS

Date of summons                     –

 

 

Company information

 

Business  number

422952068

Company  name

CRYSTAL  GEMS  BVBA

Fax  number

032328176

Date  founded

01/07/1982

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.0422.952.068  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

FROM  1  TO  4  EMPLOYEES

 

 

JOINT  INDUSTRIAL COMMITTEE (JIC)

 

Significant  Events

 

Event  Date

30/06/2009

Event  Description

 

Event  Details

Rechtzetting  aan  de  publicatie  neergelegd  op  24-03-1986,  dient  gelezen  te  worden:  Hoveniersstraat

 

2 bus  229  bureel  618  te  2018  Antwerpen.

 

 

 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

290,920

-0.48

292,335

804

32,316

8.52

29,777

-9.98

33,080

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

290,214

-0.48

291,629

822

31,610

8.73

29,072

-10.20

32,374

Land  &  building

282,532

-0.48

283,898

1086

23,937

-5.40

25,302

-5.12

26,668

Plant  &  machinery

5,883

-8.45

6,426

8.77

5,907

340

1,341

-24.77

1,783

Furniture  &  Vehicles

1,800

37.86

1,305

-26.08

1,766

-27.27

2,428

-38.11

3,923

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

706

0

706

0

706

0

706

-0.01

706

Total  current  assets

4,299,811

-19.31

5,329,031

7.70

4,948,239

33.73

3,700,082

9.59

3,376,384

Inventories

1,080,127

-30.76

1,560,077

24.22

1,255,880

-11.70

1,422,218

-7.26

1,533,498

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

1,080,127

-30.76

1,560,077

24.22

1,255,880

-11.70

1,422,218

-7.26

1,533,498

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

3,165,333

-12.24

3,606,625

13.20

3,186,146

80.22

1,767,879

9.69

1,611,771

Other  amounts  receivable

40,863

-72.25

147,263

13.72

129,493

51.66

85,385

32.60

64,392

Cash

10,492

-9.90

11,645

-96.88

372,985

-11.19

419,975

156

163,705

Miscellaneous  current  assets

2,996

-12.41

3,421

-8.42

3,735

-19.24

4,625

53.25

3,018

Total  Assets

4,590,731

-18.33

5,621,366

12.87

4,980,555

33.53

3,729,860

9.40

3,409,464

 

 

LIABILITIES

 

Total  shareholders  equity

1,079,644

2.03

1,058,201

36.13

777,341

1.87

763,095

1.68

750,502

Issued  share  capital

18,592

0

18,592

0

18,592

0

18,592

0.00

18,592

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

261,327

0

261,327

-

-

-

-

-

-

Reserves

799,725

2.76

778,283

2.57

758,749

1.91

744,503

1.72

731,910

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

3,511,087

-23.06

4,563,164

8.56

4,203,214

41.68

2,966,765

11.58

2,658,962

Other  long  term  loans

684,473

4.15

657,170

-11.29

740,799

2.28

724,310

4.53

692,907

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

36,256

-4.33

37,896

-1.93

38,643

3.27

37,420

7.81

34,708

Total  long  term  debts

720,728

3.69

695,066

-10.83

779,442

2.33

761,730

4.69

727,615

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

1,704,485

-8.44

1,861,655

57.52

1,181,832

26.04

937,634

-23.13

1,219,737

Trade  creditors

1,067,731

-41.89

1,837,515

-11.16

2,068,377

86.29

1,110,299

57.45

705,155

Amounts  Payable  for  Taxes,

8,883

-38.26

14,387

-15.67

17,061

194

5,794

50.65

3,846

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

9,260

-94.01

154,542

-1.25

156,502

3.43

151,308

5699

2,609

Total  current  liabilities

2,790,359

-27.86

3,868,098

12.98

3,423,772

55.27

2,205,035

14.17

1,931,347

Total  Liabilities

4,590,731

-18.33

5,621,366

12.87

4,980,555

33.53

3,729,860

9.40

3,409,464

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.18

0

0.18

-5.26

0.19

-13.64

0.22

1100

-0.02

Return  on  capital  employed

1.51

2.03

1.48

26.50

1.17

12.50

1.04

1300

-0.08

Return  on  total  assets  employed

0.59

28.26

0.46

24.32

0.37

-11.90

0.42

1400

-0.03

Return  on  net  assets  employed

2.52

2.86

2.45

4.70

2.34

13.04

2.07

1380

-0.15

Sales  /  net  working  capital

10.16

3.25

9.84

55.70

6.32

29.24

4.89

48.18

3.30

Stock  turnover  ratio

7.04

-35.12

10.85

-16.73

13.03

-33.04

19.46

-39.53

32.18

Creditor  days

25.64

-45.11

46.71

-41.00

79.17

40.52

56.34

2.55

54.94

Debtor  days

75.33

-17.72

91.55

-24.11

120.63

36.60

88.31

-28.45

123.43

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.54

11.59

1.38

-4.83

1.45

-13.69

1.68

-4.00

1.75

Liquidity  ratio  /  acid  ratio

1.15

18.56

0.97

-10.19

1.08

4.85

1.03

8.42

0.95

Current  debt  ratio

2.58

-29.51

3.66

-16.82

4.40

52.25

2.89

12.45

2.57

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

23,877

7.98

22,112

32.83

16,646

4.72

15,896

-8.53

17,378

Net  worth

1,079,644

2.03

1,058,201

36.13

777,341

1.87

763,095

1.68

750,502

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

221.27

-7.04

238.03

-3.76

247.33

13.56

217.79

-14.54

254.85

Equity  in  percentage

23.52

24.97

18.82

20.56

15.61

-23.70

20.46

-7.04

22.01

Total  debt  ratio

3.25

-24.59

4.31

-20.33

5.41

39.07

3.89

9.89

3.54

Working  capital

1,509,452

3.32

1,460,933

-4.17

1,524,467

1.97

1,495,047

3.46

1,445,037

 

PROFIT & LOSS

 

Operating  Income

15,337,173

6.65

14,380,791

49.15

9,641,999

31.95

7,307,124

53.31

4,766,111

Turnover

15,336,867

6.66

14,379,815

49.16

9,640,517

31.93

7,307,119

53.31

4,766,111

Total  operating  expenses

15,199,946

5.87

14,357,520

50.57

9,535,594

32.57

7,192,826

53.55

4,684,366

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

15,200,252

5.86

14,358,495

50.55

9,537,075

32.59

7,192,830

53.55

4,684,366

Employee  costs

-

-

-

-

80

-61.35

207

-61.52

538

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-100

80

-61.35

207

-61.52

538

Director  remuneration

-

-

50,151

7.71

46,560

-

-

-

-

Amortization  and  depreciation

2,435

-5.55

2,578

7.38

2,401

-27.31

3,302

-75.76

13,626

Operating  result

136,921

514

22,295

-78.75

104,924

-8.20

114,294

39.82

81,745

Total  financial  income

18

-99

105,646

5319

1,949

223971

1

-82.60

5

Total  financial  expenses

109,698

7.56

101,989

15.01

88,677

-9.94

98,469

18.82

82,870

Results  on  ordinary  operations  before taxation

27,241

4.97

25,952

42.63

18,196

14.98

15,826

1413

-1,120

Extraordinary  Income

2,715

-

-

-

-

-

-

-

6,421

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

2,715

-

0

-

0

-

0

-100

6,421

Results  for  the  Year  Before  Taxation

29,956

15.43

25,952

42.63

18,196

14.98

15,826

198

5,301

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

8,514

32.66

6,418

62.49

3,950

22.20

3,232

108

1,549

Results  on  ordinary  operations  after taxation

18,727

-4.13

19,534

37.12

14,246

13.12

12,593

471

-2,669

Net  result

21,442

9.77

19,534

37.12

14,246

13.12

12,593

235

3,752

Profit  (Loss)  for  the  Year  to  be appropiated

21,442

9.77

19,534

37.12

14,246

13.12

12,593

235

3,752

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2013

 

Full-time  Employees

-

Part-time  Employees

-

Total  Fte  Employees

-

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

-

Actual  working  hours

-

Personnel  Charges

-

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

-

-

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding Substitution

-

-

-

 

GENDER  AND  EDUCATION

 

 

 

Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

 

 

WORKING  CATEGORY

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

-

-

-

Blue  collar  worker

-

-

-

Other

-

-

-

 

TEMPORARY  PERSONNEL

Total

Average  number  of  temporary  staff

-

Actual  working  hours

-

Cost  of  temporary  staff

-

 

 

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

25.64

Day  sales  outstanding

75.33

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment expectation days

124.20

Industry  average  day  sales outstanding

181.51

 

 

INDUSTRY QUARTILE ANALYSIS

 

Payment expectations

Company  result

25.64

Lower

120.76

Median

74.63

Upper

46.13

Day  sales  outstanding

 

Company  result

75.33

Lower

102.27

Median

54.08

Upper

24.18

 

 

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

SHREYANCE  SHAH

Position

Principal  Manager

Start  Date

09/09/2011

Street

16 KWIKSTAARTLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Name

SACHIN  SHAH

Position

Principal  Manager

Start  Date

01/07/2009

Street

16 KWIKSTAARTLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

Former  director  details

 

Name

PHILIPPE  FRANÇOIS

Position

Commissioner

Start  Date

22/12/1997

End  Date

Unknown  date

Street

4 ASSELKOUTER  MERELBEKE

Post  code

9820

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.11

UK Pound

1

Rs.97.84

Euro

1

Rs.71.11

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

DPT

 

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.