MIRA INFORM REPORT

 

 

Report No. :

321953

Report Date :

11.05.2015

 

IDENTIFICATION DETAILS

 

Name :

DERS BVBA

 

 

Registered Office :

Van Eycklei 28-Bus 4 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

17.09.2003

 

 

Com. Reg. No.:

860531144

 

 

Legal Form :

Private Limited Company (BL/LX)

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

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                     860531144

Branche Unit Number               2133977927

Company name                        DERS BVBA

Address                                   VAN EYCKLEI 28-BUS 4

2018 ANTWERPEN

Number of staff                        0

Date of establishment               17/09/2003

Telephone number                   032187967

Fax number                              032317355

 

 

Commentary

 

The business was established over 11 years ago.

No employees are recorded for this business.

The business has been at the address for over 22 months.

Operating Result in the latest trading period increased 75% on the previous trading period.

A 69% decline in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 44% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 76% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

20,705

470,332

724,109

31/12/2012

 

37,387

474,226

739,484

31/12/2011

 

46,516

453,412

723,366

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

1,010,121

0

18,600

18,160

31/12/2012

3,351,201

0

18,600

38,466

31/12/2011

3,517,198

0

18,600

42,356

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

126.44

Industry  average  day  sales

185.19

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                -

 

NSSO DETAILS

Date of summons                     -

 

 

Company information

 

Business  number

860531144

Company  name

DERS  BVBA

Fax  number

032317355

Date  founded

17/09/2003

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.0860.531.144  Check  VAT

 

other  precious  stones

 

number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

PERSONNEL  (NSSO  CLASSIFICATION)

 

Code

-

Description

-

 

JOINT  INDUSTRIAL  COMMITTEE  (JIC)

 

 

 

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

720

-4.57

755

-42.00

1,301

 

-39.25

2,142

2.24

2,095

Intangible  fixed  assets

0

-

0

-

0

 

-

0

-

0

Tangible  fixed  assets

720

-4.57

755

-42.00

1,301

 

-39.25

2,142

2.24

2,095

Land  &  building

-

-

-

-

-

 

-

-

-

-

Plant  &  machinery

347

-

-

-

41

 

-68.11

127

-40.51

214

Furniture  &  Vehicles

374

-50.50

755

-40.13

1,260

 

-37.42

2,014

7.11

1,881

Leasing  &  Other  Similar  Rights

-

-

-

-

-

 

-

-

-

-

Other  tangible  assets

0

-

0

-

0

 

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

 

-

-

-

-

Total  current  assets

1,009,401

-69.87

3,350,447

-4.71

 

3,515,897

-7.50

3,801,043

27.28

2,986,300

Inventories

202,824

-87.31

1,598,171

-40.87

 

2,702,730

-15.88

3,212,896

96.60

1,634,233

Raw  materials  &  consumables

-

-

-

-

-

 

-

-

-

-

Work  in  progress

0

-

0

-

0

 

-

0

-

0

Finished  goods

0

-

0

-

0

 

-

0

-

0

Other  stocks

202,824

-87.31

1,598,171

-40.87

 

2,702,730

-15.88

3,212,896

96.60

1,634,233

Trade  debtors

785,319

-52.90

1,667,420

114

776,954

 

36.20

570,463

-56.58

1,313,793

Other  amounts  receivable

1,474

-48.14

2,843

8.25

2,627

 

231

792

-73.92

3,038

Cash

19,529

-76.19

82,012

188

28,432

 

131

12,289

-59.35

30,229

Miscellaneous  current  assets

254

-

0

-100

5,155

 

11.99

4,603

-8.07

5,007

Total  Assets

1,010,121

-69.86

3,351,201

-4.72

 

3,517,198

-7.52

3,803,184

27.27

2,988,395

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

470,332

-0.82

474,226

4.59

453,412

3.78

436,896

2.16

427,641

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

451,732

-0.85

455,626

4.79

434,812

3.95

418,296

2.26

409,041

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

539,789

-81.24

2,876,975

-6.10

3,063,785

-8.99

3,366,288

31.46

2,560,754

Other  long  term  loans

254,497

-4.33

266,013

-1.93

271,255

3.27

262,668

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

254,497

-4.33

266,013

-1.93

271,255

3.27

262,668

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

13,971

-36.38

21,960

-

-

-

1,979

-66.45

5,897

Trade  creditors

64,512

-97.26

2,352,993

-6.88

2,526,801

-11.02

2,839,696

25.27

2,266,885

Amounts  Payable  for  Taxes,

6,637

82.72

3,633

-27.35

5,000

-

-

-

9,996

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

200,171

-13.86

232,377

-10.87

260,729

-0.46

261,946

-5.77

277,975

Total  current  liabilities

285,292

-89.07

2,610,962

-6.50

2,792,530

-10.02

3,103,620

21.20

2,560,754

Total  Liabilities

1,010,121

-69.86

3,351,201

-4.72

3,517,198

-7.52

3,803,184

27.27

2,988,395

 

RATIO  ANALYSIS

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

2.86

-43.37

5.05

-21.34

6.42

20.45

5.33

-14.58

6.24

Return  on  total  assets  employed

2.05

83.04

1.12

-15.15

1.32

34.69

0.98

10.11

0.89

Return  on  net  assets  employed

4.40

-44.16

7.88

-23.20

10.26

20.28

8.53

36.70

6.24

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

 

SHORT  TERM  STABILITY

 

Current  ratio

3.54

176

1.28

1.59

1.26

3.28

1.22

4.27

1.17

Liquidity  ratio  /  acid  ratio

2.83

322

0.67

131

0.29

52.63

0.19

-64.15

0.53

Current  debt  ratio

0.61

-88.93

5.51

-10.55

6.16

-13.24

7.10

18.53

5.99

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

18,160

-52.79

38,466

-9.18

42,356

41.04

30,032

63.92

18,322

Net  worth

470,332

-0.82

474,226

4.59

453,412

3.78

436,896

2.16

427,641

 

LONG  TERM  STABILITY

 

Equity  in  percentage

46.56

229

14.15

9.78

12.89

12.18

11.49

-19.71

14.31

Total  debt  ratio

1.15

-81.05

6.07

-10.21

6.76

-12.32

7.71

28.71

5.99

Working  capital

724,109

-2.08

739,484

2.23

723,366

3.72

697,423

63.89

425,546

 

 

PROFIT & LOSS

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

79,292

71.10

46,342

-75.80

191,521

118

87,829

122

39,516

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

554

1.44

547

-34.99

841

8.18

777

74.64

445

Operating  result

77,577

75.15

44,292

-75.09

177,828

107

85,599

127

37,709

Total  financial  income

78,322

-77.77

352,375

-24.04

463,870

-3.86

482,489

3134981

15

Total  financial  expenses

135,194

-62.37

359,280

-39.64

595,183

12.13

530,814

4709

11,037

Results  on  ordinary  operations  before  taxation

20,705

-44.62

37,387

-19.62

46,516

24.79

37,274

39.67

26,687

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

20,705

-44.62

37,387

-19.62

46,516

24.79

37,274

39.67

26,687

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

3,100

582

-532

-110

5,000

-37.64

8,018

-8.99

8,810

Results  on  ordinary  operations  after  taxation

17,605

-53.57

37,920

-8.66

41,516

41.91

29,255

63.65

17,877

Net  result

17,605

-53.57

37,920

-8.66

41,516

41.91

29,255

63.65

17,877

Profit  (Loss)  for  the  Year  to  be  appropiated

17,605

-53.57

37,920

-8.66

41,516

41.91

29,255

63.65

17,877

Dividends

-

-

-

-

-

-

-

-

-

 

 

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

-

Day  sales  outstanding

-

 

 

INDUSTRY  COMPARISON

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

126.44

Industry average day sales

Outstanding

185.19

 

 

INDUSTRY QUARTILE ANALYSIS

 

Payment expectations

Company result                        -

Lower                                       120.34

Median                                     74.35

Upper                                       45.68

 

 

DAY SALES OUTSTANDING

 

Company result                        -

Lower                                       101.92

Median                                     54.07

Upper                                       24.12

 

 

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

 

--

 

FORMER DIRECTOR DETAILS

 

Name

MOHIT  SUSHIL  NAHETA

Position

Principal  Manager

Start  Date

10/08/2010

End  Date

31/12/2011

Street

28 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.05

UK Pound

1

Rs.99.04

Euro

1

Rs.71.76

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

 

 

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.