MIRA INFORM REPORT

 

 

Report No. :

321604

Report Date :

06.05.2015

 

IDENTIFICATION DETAILS

 

Name :

BONAS TEXTILE MACHINERY NV

 

 

Registered Office :

Michel Vandewielestraat 7 8510 Kortrijk

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

04.04.2003

 

 

Com. Reg. No.:

479941548

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

Line of Business :

Wholesale of machinery for the textile industry, and of sewing and knitting machines

 

 

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 :

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 shifts in foreign demand, particularly in Belgium’s EUTRADEhttps://cdncache-a.akamaihd.net/items/it/img/arrow-10x10.pngpartners. 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 government maintained the budget deficit below the euro-zone threshold of 3% of GDP for a second year in a row. 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                     479941548

Branche Unit Number               2126644727

Company name                        BONAS TEXTILE MACHINERY NV

Address                                   MICHEL VANDEWIELESTRAAT 7

8510 KORTRIJK

Number of staff                        0

Date of establishment               04/04/2003

Telephone number                   056243211

Fax number                              056243540

 

 

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 4 years.

Net Worth increased by 24% during the latest trading period.

A 23% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 314% compared to the previous trading period.

The business saw an increase in their Cash Balance of 158% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

19,355,308

478,057

1,634,933

1,934,933

31/12/2012

17,729,651

115,288

1,309,498

1,509,498

31/12/2011

15,419,714

353,484

1,223,951

1,323,951

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

-

0

250,000

325,435

31/12/2012

-

0

250,000

85,547

31/12/2011

-

0

250,000

244,115

 

 

Trends

 

Profitability

Liquidity

Net  worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

55.55

Industry  average  payment

74.04

Industry  average  day  sales

131.94

expectation  days

 

outstanding

 

Day  sales  outstanding

103.36

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

PROTESTED BILLS

Bill amount                                -

NSSO DETAILS

Date of summons                     –

 

 

Company information

 

Business  number

479941548

Company  name

BONAS  TEXTILE

 

 

 

MACHINERY  NV

Fax  number

056243540

Date  founded

04/04/2003

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46640

Liable  for  VAT

yes

Activity  description

Wholesale  of  machinery  for

VAT  Number

BE.0479.941.548  Check  VAT

 

the  textile  industry,  and  of sewing  and  knitting machines

 

 

number

 

 

Contractor details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

PERSONNEL  (NSSO  CLASSIFICATION)

 

Code

-

Description

-

 

JOINT  INDUSTRIAL  COMMITTEE  (JIC)

 

Significant  Events

 

Event  Date

21/05/2014

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar  21-05-2014:  Herbenoemd  als  bestuurders  voor  een  periode  van  6  jaar  :  Charles

 

Beauduin  en  Lucien  Beauduin.

 

 

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

-

-

-

-

-

-

-

-

364

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

-

-

-

-

-

-

-

-

364

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

-

-

-

-

-

-

-

-

-

Furniture  &  Vehicles

-

-

-

-

-

-

-

-

364

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

Total  current  assets

7,785,984

23.63

6,297,705

18.69

5,305,935

-50.40

10,698,258

47.79

7,238,851

Inventories

388,886

2.47

379,521

15.04

329,911

259

91,751

-57.63

216,563

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

388,886

2.47

379,521

15.04

329,911

259

91,751

-57.63

216,563

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

5,481,028

13.10

4,846,336

12.60

4,304,022

-35.78

6,701,820

14.82

5,836,987

Other  amounts  receivable

459,598

-9.62

508,524

48.64

342,111

-90.92

3,767,462

611

529,762

Cash

1,456,298

158

563,230

72.55

326,412

143

134,283

-78.95

637,850

Miscellaneous  current  assets

175

85.72

94

-97.30

3,478

18.17

2,943

-83.36

17,690

Total  Assets

7,785,984

23.63

6,297,705

18.69

5,305,935

-50.40

10,698,258

47.78

7,239,216

 

 

LIABILITIES

 

Total  shareholders  equity

1,634,933

24.85

1,309,498

6.99

1,223,951

24.91

979,837

115

455,064

Issued  share  capital

250,000

0

250,000

0

250,000

0

250,000

0

250,000

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

1,384,933

30.72

1,059,498

8.78

973,951

33.45

729,837

255

205,064

Provisions  for  Liabilities  &  Charges

300,000

50.0

200,000

100

100,000

-75.00

400,000

60.0

250,000

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

5,851,050

22.20

4,788,206

20.25

3,981,983

-57.27

9,318,421

42.61

6,534,152

Other  long  term  loans

-

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

300,000

50.0

200,000

100

100,000

-75.00

400,000

60.0

250,000

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

-

-

-

-

-

-

-

-

-

Trade  creditors

2,882,969

8.55

2,655,860

8.52

2,447,307

-71.73

8,657,424

49.57

5,788,029

Amounts  Payable  for  Taxes,

-

-

28,544

-

-

-

5,520

-

-

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

2,968,081

41.08

2,103,803

37.08

1,534,676

134

655,477

-12.15

746,123

Total  current  liabilities

5,851,050

22.20

4,788,206

20.25

3,981,983

-57.27

9,318,421

42.61

6,534,152

Total  Liabilities

7,785,984

23.63

6,297,705

18.69

5,305,935

-50.40

10,698,258

47.78

7,239,216

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

2.47

280

0.65

-71.62

2.29

-31.02

3.32

219

-1.51

Return  on  capital  employed

24.71

223

7.64

-71.39

26.70

-45.04

48.58

172

-28.11

Return  on  total  assets  employed

6.14

235

1.83

-72.52

6.66

6.22

6.27

228

-2.74

Return  on  net  assets  employed

29.24

232

8.80

-69.53

28.88

-57.79

68.42

157

-43.56

Sales  /  net  working  capital

10.00

-14.89

11.75

0.86

11.65

-20.31

14.62

-21.78

18.69

Stock  turnover  ratio

2.01

-6.07

2.14

0

2.14

375

0.45

-72.56

1.64

Creditor  days

55.55

2.10

54.41

-7.94

59.10

-63.65

162.60

3.53

157.05

Debtor  days

103.36

3.60

99.77

-2.07

101.88

-16.00

121.29

-25.02

161.76

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.33

0.76

1.32

-0.75

1.33

15.65

1.15

3.60

1.11

Liquidity  ratio  /  acid  ratio

1.26

1.61

1.24

-0.80

1.25

9.65

1.14

6.54

1.07

Current  debt  ratio

3.58

-2.19

3.66

12.62

3.25

-65.83

9.51

-33.77

14.36

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

325,435

280

85,547

-64.96

244,115

-53.51

525,137

275

-190,737

Net  worth

1,634,933

24.85

1,309,498

6.99

1,223,951

24.91

979,837

115

455,064

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

-

-

-

-

Equity  in  percentage

21.00

1.01

20.79

-9.88

23.07

151

9.16

45.63

6.29

Total  debt  ratio

3.76

-1.31

3.81

14.07

3.34

-66.33

9.92

-33.47

14.91

Working  capital

1,934,933

28.18

1,509,498

14.01

1,323,951

-4.05

1,379,837

95.80

704,699

 

 

PROFIT & LOSS

 

Operating  Income

20,840,981

8.48

19,211,572

13.89

16,868,524

-22.18

21,676,085

48.70

14,576,704

Turnover

19,355,308

9.17

17,729,651

14.98

15,419,714

-23.54

20,168,188

53.13

13,171,057

Total  operating  expenses

18,941,901

6.33

17,814,839

17.87

15,113,994

-22.23

19,434,490

44.47

13,451,954

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

20,427,574

5.86

19,296,760

16.51

16,562,804

-20.91

20,942,387

40.95

14,857,601

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

-

-

-

-

-

-

364

-95.48

8,057

Operating  result

413,407

485

-85,188

-127

305,720

-58.33

733,698

261

-280,897

Total  financial  income

101,925

-64.94

290,716

114

135,635

10.08

123,217

-15.75

146,247

Total  financial  expenses

37,274

-58.69

90,240

2.69

87,872

-52.89

186,534

193

63,577

Results  on  ordinary  operations

478,057

314

115,288

-67.39

353,484

-47.27

670,381

338

-198,227

before  taxation

 

 

 

 

 

 

 

 

 

Results  for  the  Year  Before

478,057

314

115,288

-67.39

353,484

-47.27

670,381

338

-198,227

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

152,622

413

29,741

-72.81

109,369

-24.89

145,608

25569

567

Results  on  ordinary  operations

325,435

280

85,547

-64.96

244,115

-53.48

524,773

263

-198,794

after  taxation

 

 

 

 

 

 

 

 

 

Net  result

325,435

280

85,547

-64.96

244,115

-53.48

524,773

263

-198,794

Profit  (Loss)  for  the  Year  to  be

325,435

280

85,547

-64.96

244,115

-53.48

524,773

263

-198,794

Dividends

-

-

-

-

-

-

-

-

-

 

 

INDUSTRY COMPARISON

 

Activity code                            46640

Activity description                  Wholesale of machinery for the textile industry, and of sewing and knitting machines

industry average credit

rating                                       68.36

Industry average credit limit     89123.60

 

 

Payment Information

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

 

Amount

-

Details

-

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

55.55

Day  sales  outstanding

103.36

 

INDUSTRY  COMPARISON

 

Activity  code

46640

Activity  description

Wholesale  of  machinery  for  the  textile  industry,  and  of  sewing  and  knitting  machines

Industry average payment

expectation days

74.04

Industry average day sales outstanding

131.94

 

 

INDUSTRY QUARTILE ANALYSIS

 

Payment expectations

Company result            55.55

Lower                           138.20

Median                         71.37

Upper                           49.09

 

 

DAY SALES OUTSTANDING

 

Company result            103.36

Lower                           82.32

Median                         54.51

Upper 2                        8.93

 

 

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

 

 

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  LAMBERT  BEAUDUIN

Position

Chairman  of  the  Board

Start  Date

03/04/2003

Date  of  birth

19/09/1959

Street

452 LENNIKSESTEENWEG  HALLE

Post  code

1500

Country

Belgium

Position

Director

Start  Date

03/04/2003

Date  of  birth

19/09/1959

Street

452 LENNIKSESTEENWEG  HALLE

Post  code

1500

Country

Belgium

Name

BERNADETTE  JOHANNA  DE  BETHUNE

Position

Director

Start  Date

16/05/2012

Date  of  birth

01/11/1960

Street

444 LENNIKSESTEENWEG  HALLE

Post  code

1500

Country

Belgium

Name

LUCIEN  CHARLES  ANTOINE  BEAUDUIN

Position

Director

Start  Date

21/05/2008

Date  of  birth

28/12/1931

Street

20 EIKENLAAN  BRUSSEL

Post  code

1180

Country

Belgium

Name

LUCIEN-CHARLES  ANTOINE  BEUDUIN

Position

Director

Start  Date

03/04/2003

Street

20 EIKENLAAN  BRUSSEL

Post  code

1180

Country

Belgium

Name

BERNADETTE  DE  BETHUNE

Position

Director

Start  Date

16/05/2012

End  Date

17/05/2018

Street

444 STEENWEG  OP  LENNIK  HALLE

Post  code

1500

Country

Germany

 

FORMER  DIRECTOR  DETAILS

 

Name

CHARLES  LAMBERT  BEAUDUIN

Position

Managing  Director

Start  Date

21/05/2008

End  Date

21/05/2014

Date  of  birth

19/09/1959

Street

452 LENNIKSESTEENWEG  HALLE

Post  code

1500

Country

Belgium

Name

ARNOYS  GERMAIN

Position

Director

Start  Date

20/05/2009

End  Date

31/12/2012

Street

1 OMLOOPSTRAAT  WAREGEM

Post  code

8791

Country

Belgium

Name

VAN  GEET,  DERICK  EN  CO,  BEDRIJFSREVISOREN  B.V.  CVBA

Position

Commissioner

Start  Date

21/04/2011

End  Date

31/12/2011

Date  of  birth

01/01/1992

Street

5 BURGEMEESTER  ETIENNE  DEMUNTERLAAN  BRUSSEL

Post  code

1090

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.52

UK Pound

1

Rs.95.96

Euro

1

Rs.70.54

 

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.