MIRA INFORM REPORT

 

 

Report No. :

321033

Report Date :

08.05.2015

 

IDENTIFICATION DETAILS

 

Name :

DEFITEC SPRL

 

 

Registered Office :

Rue Michel Verbeek 16, 1410 Waterloo

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

23.10.1986

 

 

Com. Reg. No.:

429889845

 

 

Legal Form :

Private  Limited  Company 

 

 

Line of Business :

Manufacture  of  filter equipment

 

 

No. of Employees :

01

 

 

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 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 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                     429889845

Company name                        DEFITEC SPRL

Address                                   RUE MICHEL VERBEEK 16

1410 WATERLOO

Number of staff                        0

Date of establishment               23/10/1986

Telephone number                   023530377

Fax number                              023530377

 

 

 

Commentary

 

The business was established over 28 years ago.

The business has 1 employees.

The business has been at the address for over 19 years.

Operating Result in the latest trading period increased 275% on the previous trading period.

A 47% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 305% compared to the previous trading period.

 

 

ACCOUNTS

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

322,418

1,372,811

1,364,065

31/12/2012

 

79,478

1,135,601

1,123,016

31/12/2011

 

130,655

1,071,035

1,051,160

 

 

 

 

 

ACCOUNTS

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

1,720,790

0

62,500

245,582

31/12/2012

1,168,803

0

62,500

71,856

31/12/2011

1,113,159

0

62,500

106,811

 

 

Payment expectations

 

Past payments

 

Payment expectation days

-

Industry average payment expectation days

132.84

Industry average day sales outstanding

133.23

Day sales outstanding

-

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

 

Court action type                       no

 

 

Company information

 

Business  number

429889845

Company  name

DEFITEC  SPRL

Fax  number

023530377

Date  founded

23/10/1986

Company  status

active

Company  type

Private  Limited  Company  (BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

28295

Liable  for  VAT

Yes

Activity  description

Manufacture  of  filter equipment

VAT  Number

BE.0429.889.845  Check  VAT number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Joint Industrial Committee (JIC)

 

Significant Events

Event Date                    12/09/2006

Event Description         New co-ordinated text of the statutes filed

Event Details                Commentaire 12-09-2006: Modifications des statuts.

 

 

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

8,746

-30.50

12,585

-36.68

19,875

444

3,651

-23.92

4,799

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

8,746

-30.50

12,585

-36.68

19,875

444

3,651

-23.92

4,799

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

-

-

713

-50.0

1,426

-33.33

2,139

-24.97

2,851

Furniture  &  Vehicles

8,746

-26.33

11,872

-35.65

18,449

1120

1,512

-22.38

1,948

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

Total  current  assets

1,712,044

48.07

1,156,218

5.76

1,093,284

1.32

1,079,014

7.54

1,003,391

Inventories

-

-

-

-

-

-

-

-

-

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

435,689

1585

25,852

-23.14

33,637

-70.68

114,708

1052

9,950

Other  amounts  receivable

38,007

-44.25

68,174

128

29,801

1555

1,800

21.70

1,479

Cash

1,149,578

19.38

962,953

4.48

921,646

7.42

857,950

-8.90

941,733

Miscellaneous  current  assets

88,770

-10.55

99,239

-8.28

108,200

3.49

104,556

108

50,229

Total  Assets

1,720,790

47.23

1,168,803

5.00

1,113,159

2.82

1,082,665

7.39

1,008,190

Liabilities

 

 

 

 

 

 

 

 

 

Total shareholder equity

1,372,811

20.89

1,135,601

6.03

1,071,035

10.14

972,466

20.40

807,685

 

Issued  share  capital

62,500

0

62,500

0

62,500

0

62,500

0

62,500

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

1,310,311

22.11

1,073,101

6.40

1,008,535

10.83

909,966

22.11

745,185

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

347,979

948

33,202

-21.18

42,124

-61.77

110,199

-45.04

200,505

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

343,650

2618

12,640

83.11

6,903

-92.06

86,941

1117

7,143

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

-

-

-

-

14,477

-3.49

15,000

-91.15

169,485

Miscellaneous  current  liabilities

4,329

-78.95

20,562

-0.88

20,744

151

8,258

-65.41

23,877

Total  current  liabilities

347,979

948

33,202

-21.18

42,124

-61.77

110,199

-45.04

200,505

Total  Liabilities

1,720,790

47.23

1,168,803

5.00

1,113,159

2.82

1,082,665

7.39

1,008,190

 

Ratio  Analysis

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

23.49

235

7.00

-42.62

12.20

-47.37

23.18

-59.02

56.56

Return  on  total  assets  employed

18.74

175

6.80

-42.08

11.74

-43.61

20.82

-54.05

45.31

Return  on  net  assets  employed

23.49

235

7.00

-42.62

12.20

-47.37

23.18

-59.02

56.56

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

4.92

-85.87

34.82

34.18

25.95

165

9.79

95.80

5.00

Liquidity  ratio  /  acid  ratio

4.92

-85.87

34.82

34.18

25.95

165

9.79

95.80

5.00

Current  debt  ratio

0.25

733

0.03

-25.00

0.04

-63.64

0.11

-56.00

0.25

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

245,582

241

71,856

-32.73

106,811

-36.10

167,141

-41.36

285,023

 

Net  worth

1,372,811

20.89

1,135,601

 

6.03

1,071,035

10.14

972,466

20.40

807,685

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

 

-

-

-

-

Equity  in  percentage

79.78

-17.89

97.16

 

0.98

96.22

7.13

89.82

12.12

80.11

Total  debt  ratio

0.25

733

0.03

 

-25.00

0.04

-63.64

0.11

-56.00

0.25

Working  capital

1,364,065

21.46

1,123,016

 

6.84

1,051,160

8.50

968,815

20.67

802,886

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

331,746

251

94,436

-24.28

124,713

-39.85

207,321

-43.51

367,036

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

8,372

14.84

7,290

-11.55

8,242

249

2,360

9.31

2,159

Operating  result

321,725

275

85,681

-25.20

114,542

-43.85

203,993

-44.02

364,413

Total  financial  income

6,574

-26.80

8,981

-50.91

18,295

-40.36

30,676

-70.57

104,246

Total  financial  expenses

5,881

-61.27

15,184

595

2,182

-76.47

9,273

-21.45

11,805

Results  on  ordinary  operations  before  taxation

322,418

305

79,478

-39.17

130,655

-42.03

225,396

-50.66

456,854

Extraordinary  Income

22,627

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

14,994

Extraordinary  items

22,627

-

0

-

0

-

0

0

-14,994

Results  for  the  Year  Before  Taxation

345,045

334

79,478

-39.17

130,655

-42.03

225,396

-48.99

441,860

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

107,835

623

14,912

-53.52

32,086

-47.07

60,615

-61.88

158,996

Results  on  ordinary  operations  after  taxation

214,583

232

64,566

-34.50

98,569

-40.18

164,781

-44.68

297,858

Net  result

237,210

267

64,566

-34.50

98,569

-40.18

164,781

-41.75

282,864

Profit  (Loss)  for  the  Year  to  be  appropiated

237,210

267

64,566

-34.50

98,569

-40.18

164,781

-41.75

282,864

Dividends

-

-

-

-

-

-

-

-

-

Industry comparison

 

Activity code                28295

Activity description      Manufacture of filter equipment

 

 

Industry comparison

 

Activity code                            28295

Activity description                  Manufacture of filter equipment

Industry average payment

expectation days                      132.84

Industry average day sales

Outstanding                             133.23

 

 

Industry quartile analysis

 

Payment expectations

Company result                        -

Lower                                       112.95

Median                                     72.39

Upper                                       45.64

 

 

Day sales outstanding

 

Company result                        -

Lower                                       96.37

Median                                     48.63

Upper                                       21.97

 

 

Shareholder Details

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

 

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

BENOIT  DEFFENSE

Position

Principal  Manager

Start  Date

03/08/2013

Street

16 RUE  MICHEL  VERBEEK  WATERLOO

Post  code

1410

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.88

UK Pound

1

Rs.97.21

Euro

1

Rs.72.51

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

TPT

 

               

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.