MIRA INFORM REPORT

 

 

Report No. :

326055

Report Date :

09.06.2015

 

IDENTIFICATION DETAILS

 

Name :

RIKHAV  BVBA 

 

 

Registered Office :

Hoveniersstraat  53-Bus  21, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

14.05.2002

 

 

Com. Reg. No.:

477618694

 

 

Legal Form :

Private  Limited  Company

 

 

LINE OF BUSINESS :

SUBJECT IS ENGAGED IN 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 name

 

RIKHAV  BVBA 

 

 

Company  summary

 

Business  number

477618694

Branche  Unit  Number

2101816586

Company  name

RIKHAV  BVBA

Address

HOVENIERSSTRAAT  53-BUS  21

 

2018 ANTWERPEN

Number  of  staff

0

Date  of  establishment

14/05/2002

Telephone  number

032274742

Fax  number

 

 

 

Commentary

 

The  business  was  established  over  13  years  ago. The  business  has  0  employees.

The  business  has  been  at  the  address  for  over  4  years. Pre-tax  profits  decreased  by  41%  compared  to  the  previous  trading  period. Turnover  in  the  latest  trading  period  decreased  35%  on  the  previous  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

10,804,709

16,014

3,102,341

3,801,893

31/12/2012

16,671,737

27,172

3,089,484

3,811,647

31/12/2011

15,766,413

25,285

3,069,541

3,804,585

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

4,695,451

0

2,805,738

24,103

31/12/2012

5,159,034

0

2,805,738

30,103

31/12/2011

4,851,817

0

2,805,738

27,716

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

28.12

Industry  average  payment

126.61

Industry  average  day  sales

184.47

expectation  days

 

outstanding

 

Day  sales  outstanding

72.89

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

PROTESTED  BILLS

Bill  amount

-

NSSO  DETAILS

 

Date  of  summons

-

 

 

 

Company  information

 

Business  number

477618694

Company  name

RIKHAV  BVBA

Fax  number

 

Date  founded

14/05/2002

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

VAT  Number

BE.0477.618.694  Check  VAT

 

other  precious  stones

 

number

Belgian  Bullettin  of  Acts

Publications

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

12/06/2012

Event  Description

resignation-appointment  of  director(s)

Event  Details

Commentaar  12-06-2012:  Bevestiging  van  de  benoeming  van  Shimon  Barbi  en  Shah  Jayesh  als

 

zaakvoerders.

 

 

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

28,676

-29.09

40,441

-8.22

44,061

33.15

33,092

2745

1,163

Intangible  fixed  assets

3,117

-33.43

4,683

-25.05

6,248

-20.03

7,813

-

0

Tangible  fixed  assets

25,558

-28.52

35,758

-5.44

37,813

49.58

25,279

2073

1,163

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

3,258

-27.07

4,467

-

-

-

358

-50.0

716

Furniture  &  Vehicles

22,301

-28.73

31,291

-17.25

37,813

51.73

24,921

5475

447

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

Total  current  assets

4,666,775

-8.83

5,118,594

6.47

4,807,756

-4.28

5,022,958

-19.24

6,219,231

Inventories

1,032,954

-33.98

1,564,582

39.37

1,122,612

27.87

877,906

-44.49

1,581,516

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

1,032,954

-33.98

1,564,582

39.37

1,122,612

27.87

877,906

-44.49

1,581,516

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

2,157,622

5.30

2,049,074

24.40

1,647,208

-9.72

1,824,585

1284

131,813

Other  amounts  receivable

1,050,146

-1.86

1,070,099

0.85

1,061,122

5.85

1,002,507

83.22

547,152

Cash

421,247

-1.55

427,880

-55.99

972,297

-25.94

1,312,816

-66.76

3,949,721

Miscellaneous  current  assets

4,806

-30.94

6,958

54.07

4,516

-12.19

5,143

-43.04

9,029

Total  Assets

4,695,451

-8.99

5,159,034

6.33

4,851,817

-4.04

5,056,050

-18.72

6,220,394

 

 

Liabilities

 

Total  shareholders  equity

3,105,458

0.36

3,094,167

0.60

3,075,788

0.64

3,056,296

0.45

3,042,537

Issued  share  capital

2,805,738

0

2,805,738

0

2,805,738

0

2,805,738

0.00

2,805,738

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

299,721

3.91

288,429

6.81

270,051

7.78

250,558

5.81

236,799

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

1,589,992

-23.00

2,064,867

16.26

1,776,028

-11.19

1,999,754

-37.07

3,177,858

Other  long  term  loans

-

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

725,111

-4.33

757,920

-1.93

772,857

3.27

748,391

7.81

694,154

Total  long  term  debts

725,111

-4.33

757,920

-1.93

772,857

3.27

748,391

7.81

694,154

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

32,662

-94.86

636,049

-24.31

840,329

1683

47,120

-93.45

719,180

Trade  creditors

828,664

25.32

661,245

334

152,209

-87.32

1,200,852

-31.69

1,757,944

Amounts  Payable  for  Taxes,

3,172

-65.85

9,289

-9.90

10,310

223

3,191

45.44

2,194

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

384

5.45

364

12.49

323

61.66

200

-95.44

4,385

Total  current  liabilities

864,882

-33.82

1,306,947

30.28

1,003,171

-19.83

1,251,363

-49.62

2,483,703

Total  Liabilities

4,695,451

-8.99

5,159,034

6.33

4,851,817

-4.04

5,056,050

-18.72

6,220,394

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.15

-6.25

0.16

0

0.16

6.67

0.15

-25.00

0.20

Return  on  capital  employed

0.42

-40.85

0.71

7.58

0.66

50.0

0.44

-55.10

0.98

Return  on  total  assets  employed

0.34

-35.85

0.53

1.92

0.52

57.58

0.33

-44.07

0.59

Return  on  net  assets  employed

0.52

-40.91

0.88

7.32

0.82

49.09

0.55

-54.55

1.21

Sales  /  net  working  capital

2.84

-35.01

4.37

5.56

4.14

35.74

3.05

-39.24

5.02

Stock  turnover  ratio

9.56

1.92

9.38

31.74

7.12

-6.81

7.64

-9.37

8.43

Creditor  days

28.12

93.66

14.52

311

3.53

-90.78

38.29

11.44

34.36

Debtor  days

72.89

62.48

44.86

17.65

38.13

-34.19

57.94

2163

2.56

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

5.40

37.76

3.92

-18.16

4.79

19.45

4.01

60.40

2.50

Liquidity  ratio  /  acid  ratio

4.20

54.41

2.72

-25.89

3.67

10.88

3.31

77.01

1.87

Current  debt  ratio

0.28

-33.33

0.42

27.27

0.33

-19.51

0.41

-50.0

0.82

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

24,103

-19.93

30,103

8.61

27,716

78.29

15,546

-41.79

26,708

Net  worth

3,102,341

0.42

3,089,484

0.65

3,069,541

0.69

3,048,483

0.20

3,042,537

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

1.05

-94.89

20.56

-24.74

27.32

1674

1.54

-93.49

23.64

Equity  in  percentage

66.18

10.24

60.03

-5.43

63.48

4.86

60.54

23.78

48.91

Total  debt  ratio

0.51

-23.88

0.67

15.52

0.58

-10.77

0.65

-37.50

1.04

Working  capital

3,801,893

-0.26

3,811,647

0.19

3,804,585

0.87

3,771,595

0.97

3,735,528

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

10,805,081

-35.19

16,672,477

5.71

15,771,664

36.84

11,525,332

-38.72

18,808,909

Turnover

10,804,709

-35.19

16,671,737

5.74

15,766,413

37.17

11,493,932

-38.75

18,766,575

Total  operating  expenses

10,756,789

-35.31

16,627,141

5.64

15,738,876

37.49

11,447,553

-38.71

18,676,914

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

10,757,161

-35.31

16,627,881

5.61

15,744,128

37.16

11,478,953

-38.68

18,719,248

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

12,811

9.27

11,724

42.56

8,224

360

1,787

195

605

Operating  result

47,920

7.45

44,596

61.95

27,536

-40.63

46,380

-48.27

89,661

Total  financial  income

28,599

16.26

24,600

4.58

23,523

2198322

1

-99

729

Total  financial  expenses

60,505

43.98

42,023

63.04

25,775

-12.97

29,618

-44.79

53,645

Results  on  ordinary  operations

16,014

-41.07

27,172

7.47

25,285

50.83

16,763

-54.38

36,744

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

783

-

-

-

2,418

-

-

-

233

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

783

-

0

-100

2,418

-

0

-100

233

Results  for  the  Year  Before

16,796

-38.19

27,172

-1.91

27,702

65.26

16,763

-54.67

36,977

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

5,505

-37.40

8,794

7.11

8,210

173

3,004

-72.37

10,873

Results  on  ordinary  operations

10,509

-42.82

18,379

7.64

17,075

24.09

13,759

-46.82

25,871

after  taxation

 

 

 

 

 

 

 

 

 

Net  result

11,291

-38.56

18,379

-5.71

19,492

41.67

13,759

-47.29

26,103

Profit  (Loss)  for  the  Year  to  be

appropiated

11,291

-38.56

18,379

-5.71

19,492

41.67

13,759

-47.29

26,103

 

 

Social  Balance  Sheet  Details

 

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

 

-

 

 

 

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

-

-

-

Leavers

-

-

-

 

Total  of  formal  continuing  vocational  training  initiatives

 

 

for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  less  formal  and  informal  continuing  vocational

 

 

training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  initial  training  initiatives  at  the  expense  of  the

 

 

employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

 

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

28.12

Day  sales  outstanding

72.89

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

126.61

expectation  days

 

Industry  average  day  sales

184.47

outstanding

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

28.12

Lower

118.32

Median

74.61

Upper

45.68

 

Day  sales  outstanding

 

Company  result

72.89

Lower

102.33

Median

54.07

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

JAYESH  SHAH

Position

Principal  Manager

Start  Date

08/08/2013

Street

19 GOUDENREGENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

SHIMON  BARBI

Position

Principal  Manager

Start  Date

08/08/2013

Street

15 HAELA

Post  code

52960

Country

Israël

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.11

UK Pound

1

Rs.97.84

Euro

1

Rs.71.12

 

INFORMATION DETAILS

 

Analysis Done by :

SAN

 

 

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

 

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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.