MIRA INFORM REPORT

 

 

Report No. :

310957

Report Date :

04.03.2015

 

IDENTIFICATION DETAILS

 

Name :

A-STAR BELGIUM BVBA

 

 

Registered Office :

Hoveniersstraat 53-Bus 29, 2018 Antwerp

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

30.05.2002

 

 

Com. Reg. No.:

477718466

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Other retail sale not in stores, stalls or markets.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

 

 

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 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                     477718466

Company name                        A-STAR BELGIUM BVBA

Address                                   HOVENIERSSTRAAT 53-BUS 29 2018 ANTWERPEN

Number of staff                        0

Date of establishment               30/05/2002

Telephone number                   032317718

Fax number                              032315623

 

 

Commentary

 

The  business  was  established  over  12  years  ago.

No  employees  are  recorded  for  this  business.

The  business  has  been  at  the  address  for  over  6  years.

Operating  Result  in  the  latest  trading  period  decreased  52%  on  the  previous  trading  period.

A  34%  decline  in  Total  Assets  occurred  during  the  latest  trading  period.

Pre-tax  profits  decreased  by  76%  compared  to  the  previous  trading  period.

The  business  saw  a  decrease  in  their  Cash  Balance  of  35%  during  the  latest  trading  period.

Turnover  in  the  latest  trading  period  decreased  23%  on  the  previous  trading  period.

 

 

Accounts

 

DATE  OF 

LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE 

TAX

NET  WORTH

WORKING 

CAPITAL

31/12/2013

2,372,831

13,541

207,867

206,542

31/12/2012

3,083,145

58,861

206,715

205,021

31/12/2011

 

52,178

167,031

165,410

Accounts

 

 

 

 

DATE  OF 

LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER 

OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

671,336

0

18,600

1,521

31/12/2012

1,030,211

0

18,600

39,981

31/12/2011

691,002

0

18,600

37,666

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

67.04

Industry  average  payment

expectation  days

89.43

Industry  average  day  sales

outstanding

84.47

Day  sales  outstanding

74.35

 

 

 

 

Company Information

 

 

Business  number

477718466

Company  name

A-STAR  BELGIUM  BVBA

Fax  number

032315623

Date  founded

30/05/2002

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

47990

Liable  for  VAT

yes

Activity  description

Other  retail  sale  not  in

stores,  stalls  or  markets

VAT  Number

BE.0477.718.466 

Check  VAT number

Belgian  Bullettin  of 

Acts Publications

moniteur  belge

 

 

 

 

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

1,325

-21.78

1,694

4.50

1,621

-13.15

1,866

-25.04

2,490

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

1,275

-22.45

1,644

4.65

1,571

-13.51

1,816

-25.55

2,440

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

-

-

-

-

-

-

-

-

378

Furniture  &  Vehicles

1,275

-22.45

1,644

4.65

1,571

-13.51

1,816

-11.92

2,062

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

50

0

50

0

50

0

50

0

50

Total  current  assets

670,011

-34.86

1,028,517

49.19

689,381

0.34

687,015

-0.27

688,842

Inventories

151,012

-7.28

162,874

129

70,977

42.29

49,883

-65.21

143,363

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

151,012

-7.28

162,874

129

70,977

42.29

49,883

-65.21

143,363

Trade  debtors

483,344

-40.19

808,079

49.08

542,050

-3.84

563,681

79.48

314,059

Other  amounts  receivable

2,303

39.91

1,646

0.73

1,634

-6.36

1,745

-22.30

2,246

Cash

32,374

-35.78

50,410

-29.50

71,503

5.83

67,565

-70.40

228,272

Miscellaneous  current  assets

978

-82.24

5,508

71.22

3,217

-22.32

4,141

359

902

Total  Assets

671,336

-34.84

1,030,211

49.09

691,002

0.31

688,882

-0.35

691,331

 

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

207,867

0.56

206,715

23.76

167,031

28.87

129,611

40.49

92,255

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

 

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

189,267

0.61

188,115

26.74

148,431

33.71

111,011

50.72

73,655

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

463,469

-43.72

823,496

57.16

523,971

-6.31

559,271

-6.64

599,077

Other  long  term  loans

-

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

-

-

-

-

-

-

-

-

-

Trade  creditors

431,148

-44.61

778,387

60.78

484,123

-2.80

498,064

-1.77

507,054

Amounts  Payable  for  Taxes,  Remuneration  & Social  Security

7,486

-62.78

20,114

36.28

14,759

-32.16

21,754

27.47

17,065

 

Miscellaneous  current  liabilities

24,835

-0.64

24,995

-0.37

25,089

-36.41

39,453

-47.37

74,958

Total  current  liabilities

463,469

-43.72

823,496

57.16

523,971

-6.31

559,271

-6.64

599,077

Total  Liabilities

671,336

-34.84

1,030,211

49.09

691,002

0.31

688,882

-0.35

691,331

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.57

-70.16

1.91

-

-

-

-

-

-

Return  on  capital  employed

6.51

-77.13

28.47

-8.87

31.24

-13.00

35.91

35.00

26.60

Return  on  total  assets  employed

2.02

-64.62

5.71

-24.37

7.55

11.69

6.76

90.42

3.55

Return  on  net  assets  employed

6.51

-77.13

28.47

-8.87

31.24

-13.00

35.91

35.00

26.60

Sales  /  net  working  capital

11.49

-23.60

15.04

-

-

-

-

-

-

Stock  turnover  ratio

6.36

20.45

5.28

-

-

-

-

-

-

Creditor  days

67.04

-28.51

93.78

-

-

-

-

-

-

Debtor  days

74.35

-22.28

95.66

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.45

16.00

1.25

-5.30

1.32

7.32

1.23

6.96

1.15

Liquidity  ratio  /  acid  ratio

1.12

6.67

1.05

-11.02

1.18

3.51

1.14

25.27

0.91

Current  debt  ratio

2.23

-43.97

3.98

26.75

3.14

-27.31

4.32

-33.44

6.49

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

1,521

-96.20

39,981

6.15

37,666

-0.83

37,980

125

16,812

Net  worth

207,867

0.56

206,715

23.76

167,031

28.87

129,611

40.49

92,255

 

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

-

-

-

-

Equity  in  percentage

30.96

54.26

20.07

-16.96

24.17

28.50

18.81

41.00

13.34

Total  debt  ratio

2.23

-43.97

3.98

26.75

3.14

-27.31

4.32

-33.44

6.49

Working  capital

206,542

0.74

205,021

23.95

165,410

29.49

127,745

42.31

89,765

 

PROFIT & LOSS

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

2,372,831

-23.04

3,083,145

-

-

-

-

-

-

Total  operating  expenses

2,347,381

-22.52

3,029,510

-

-

-

-

-

-

Gross  Operating  Margin

27,622

-50.65

55,973

5.21

53,201

183

-29,006

-405

9,507

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

369

24.24

297

20.73

246

-60.54

623

-17.16

752

Operating  result

25,450

-52.55

53,635

4.53

51,309

166

-30,836

-483

8,037

Total  financial  income

11,577

-51.02

23,634

8.98

21,687

-72.82

79,793

339

18,160

Total  financial  expenses

23,486

27.59

18,408

-11.58

20,818

760

2,419

46.17

1,655

Results  on  ordinary  operations  before  taxation

13,541

-76.99

58,861

12.81

52,178

12.12

46,539

89.63

24,542

Extraordinary  Income

702

-25.00

936

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

702

-25.00

936

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

14,243

-76.18

59,797

14.60

52,178

12.12

46,539

89.63

24,542

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

13,091

-34.91

20,113

36.29

14,758

60.72

9,182

8.25

8,483

Results  on  ordinary  operations  after  taxation

450

-98.84

38,748

3.55

37,420

0.17

37,356

132

16,060

Net  result

1,152

-97.10

39,684

6.05

37,420

0.17

37,356

132

16,060

Profit  (Loss)  for  the  Year  to  be  appropiated

1,152

-97.10

39,684

6.05

37,420

0.17

37,356

132

16,060

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry Information

 

Industry  comparison

 

 

Activity  code

47990

 

Activity  description

Other  retail  sale  not  in  stores,  stalls  or  markets

 

industry  average  credit rating

79.20

 

Industry  average  credit  limit

2559.14

 

 

 

Payment Information

 

Suspension  of  payments /  moratorium  history

Amount

-

Details

-

 

Payment  expectations

Payment  expectation  days

67.04

Day  sales  outstanding

74.35

 

Industry  comparison

Activity  code

47990

Activity  description

Other  retail  sale  not  in  stores,  stalls  or  markets

Industry  average  payment

expectation  days

89.43

Industry  average  day  sales

outstanding

84.47

 

 

Industry quartile analysis

Payment expectations

Company  result

67.04

Lower

91.47

Median

35.25

Upper

9.28

 

 

Day  sales  outstanding

 

Company  result

74.35

Lower

87.99

Median

38.94

Upper

14.22

 

 

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

 

CURRENT DIRECTOR DETAILS

 

Name

CHARLES  REUBEN  SCHURHAMMER

Position

Principal  Manager

Start  Date

19/08/2010

Street

5135 CONNEMARA  LANE  N.E.

Post  code

US-55906

Country

United  States

 

 

Name

STEVEN  PAUL  SCHURHAMMER

Position

Principal  Manager

Start  Date

30/05/2002

Street

-

Post  code

-

Country

-

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.84

UK Pound

1

Rs.95.14

Euro

1

Rs.69.25

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.