MIRA INFORM REPORT

 

 

Report No. :

322176

Report Date :

13.05.2015

 

IDENTIFICATION DETAILS

 

Name :

TACHE-HSK BVBA

 

 

Registered Office :

Hoveniersstraat 53, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

13.03.2006

 

 

Com. Reg. No.:

879919563

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employees :

2

 

 

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 :

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 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                     879919563

Branche Unit Number               2152309442

Company name                        TACHE-HSK BVBA

Address                                   HOVENIERSSTRAAT 53

2018 ANTWERPEN

Number of staff                        2

Date of establishment               13/03/2006

Telephone number                   032335505

Fax number                              032132667

 

 

Commentary

 

The business was established over 8 years ago.

The business has 1 Employees.

The business has been at the address for over 8 years.

A 26% decline in Total Assets occurred during the latest trading period.

The business saw a decrease in their Cash Balance of 72% during the latest trading period.

 

 

Accounts

 

DATE OF LATEST                TURNOVER        PROFIT BEFORE TAX       NET WORTH        WORKING CAPITAL

ACCOUNTS

31/12/2013                    116,721,747      140,369                         623,550             9,311,509

31/12/2012                    112,939,955      133,877                         567,290             9,643,146

31/12/2011                    175,952,914      222,057                         498,756             9,750,956

 

 

DATE OF LATEST               BALANCE TOTAL               NUMBER OF                        CAPITAL               CASHFLOW

ACCOUNTS                                                                         EMPLOYEES

31/12/2013                    29,593,701                    2                                  6,287                87,383

31/12/2012                    40,446,004                    3                                  6,572                92,139

31/12/2011                    26,123,130                    2                                  6,702                160,839

 

 

Payment expectations

 

Past payments

Payment expectation days                    17.67

Industry average payment

expectation days                                  123.77

Industry average day sales

Outstanding                                         140.64

Day sales outstanding              57.04

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                                  No

PROTESTED BILLS

Bill amount                                          -

NSSO DETAILS

Date of summons                                 -

 

 

Company information

 

Business number

879919563

Company name

TACHE-HSK BVBA

Fax number

032132667

Date founded

13/03/2006

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 Other Precious Stones

VAT Number

BE.0879.919.563 Check VAT

number

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

 

Joint Industrial Committee (JIC)

 

JIC Code                      218

Description                  Additional national joint committee for the employees

category

 

JIC Code                      324

Description                  Joint committee for the industry and the trade in diamant

category

 

 

Company Accounts

 

Asset

 

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

13,240

-30.11

18,943

-16.19

22,601

-29.17

31,909

-17.89

38,860

 

Intangible fixed assets

0

-

0

-

0

-

0

-

0

 

Tangible fixed assets

4,192

-56.65

9,670

-57.21

22,601

-29.17

31,909

-17.89

38,860

Land & building                     

-

-

-

-

-

-

-

-

-

Plant & machinery

2,285

4.15

2,194

-43.57

3,888

-42.73

6,789

-9.12

7,470

Furniture & Vehicles

1,907

-74.49

7,476

-60.05

18,713

-25.50

25,119

-19.98

31,390

Leasing & Other Similar Rights  

-

-

-

-

-

-

-

-

-

Other tangible assets

0

-

0

-

0

-100

1

-

0

 

Financial fixed assets

9,049

-2.42

9,273

-

-

-

-

-

-

 

Total current assets

29,580,461

-26.83

40,427,061

54.89

26,100,529

91.29

13,644,822

-3.27

14,105,624

Inventories

10,658,619

-20.55

13,415,722

123

6,004,046

3.65

5,792,793

-35.97

9,047,463

Raw materials & consumables

-

-

-

-

-

-

-

-

-

Work in progress

0

-

0

-

0

-

0

-

0

Finished goods

10,658,619

-20.55

13,415,722

123

6,004,046

3.65

5,792,793

-35.97

9,047,463

Other stocks

0

-

0

-

0

-

0

-

0

Trade debtors

18,241,945

-25.85

24,602,684

27.92

19,233,280

353

4,245,525

-15.14

5,003,167

Other amounts receivable

16,638

7.63

15,458

-4.69

16,218

128

7,108

-32.59

10,544

 

Cash

653,570

-72.58

2,383,351

185

835,742

-76.72

3,590,568

8511

41,697

 

Miscellaneous current assets

9,688

-1.60

9,846

-12.43

11,244

27.37

8,828

220

2,752

 

Total Assets

29,593,701

-26.83

40,446,004

54.83

26,123,130

91.00

13,676,731

-3.31

14,144,484

 

 

Liabilities

 

Total shareholders equity

623,550

9.92

567,290

13.74

498,756

46.15

341,270

138

143,132

Issued share capital

6,287

-4.34

6,572

-1.94

6,702

3.28

6,489

7.81

6,019

Share premium account              

-

-

-

-

-

-

-

-

-

Revaluation reserve                     

-

-

-

-

-

-

-

-

-

Reserves

617,263

10.08

560,718

13.95

492,054

46.98

334,781

144

137,113

Provisions for Liabilities & Charges

0

-

0

-

0

-

0

-

0

Deffered taxes                          

-

-

-

-

-

-

-

-

-

Creditors

28,970,152

-27.35

39,878,715

55.63

25,624,373

92.15

13,335,460

-4.76

14,001,352

Other long term loans                 

-

-

-

-

-

-

-

-

-

Long term group loans

-

-

-

-

-

-

-

-

-

Other long term liabilities

8,701,199

-4.33

9,094,799

-1.94

9,274,801

147

3,742,001

7.81

3,471,000

Total long term debts

8,701,199

-4.33

9,094,799

-1.94

9,274,801

147

3,742,001

7.81

3,471,000

Current portion of long term debt

 

 

 

 

 

 

 

 

 

Financial debts

14,591,573

-37.48

23,339,919

136

9,857,032

45.44

6,777,213

-35.05

10,433,782

Trade creditors

5,594,388

-24.00

7,361,369

15.46

6,375,608

133

2,726,125

4507

59,167

Amounts Payable for Taxes, Remuneration & Social Security

22,944

-34.94

35,265

-55.22

78,759

9.92

71,653

264

19,650

Miscellaneous current liabilities

60,047

26.78

47,362

24.07

38,174

106

18,469

4.03

17,753

Total current liabilities

20,268,952

-34.16

30,783,915

88.29

16,349,573

70.42

9,593,460

-8.90

10,530,352

Total Liabilities

29,593,701

-26.83

40,446,004

54.83

26,123,130

91.00

13,676,731

-3.31

14,144,484

 

 

Ratio Analysis

 

 

 

 

 

 

 

 

 

TRADING PERFORMANCE

Profit Before Tax

0.12

0

0.12

-7.69

0.13

-40.91

0.22

46.67

0.15

Return on capital employed

1.51

8.63

1.39

-38.77

2.27

-66.76

6.83

236

2.03

 

 

 

 

 

 

 

 

 

 

Return on total assets employed

0.47

42.42

0.33

-61.18

0.85

-58.33

2.04

292

0.52

Return on net assets employed

22.51

-4.62

23.60

-46.99

44.52

-45.53

81.74

59.21

51.34

 

Sales / net working capital

12.54

7.09

11.71

-35.09

18.04

-43.47

31.91

129

13.88

 

Stock turnover ratio

9.13

-23.15

11.88

248

3.41

-23.88

4.48

-75.43

18.23

 

Creditor days

17.67

-26.44

24.02

80.87

13.28

71.58

7.74

1659

0.44

Debtor days

57.04

-28.26

79.51

99

39.90

232

11.99

-67.41

36.79

SHORT TERM STABILITY

 

 

 

 

 

 

 

 

 

Current ratio

1.46

11.45

1.31

-18.12

1.60

12.68

1.42

5.97

1.34

 

Liquidity ratio / acid ratio

0.93

5.68

0.88

-28.46

1.23

50.0

0.82

70.83

0.48

 

 

 

 

 

 

 

 

 

 

Current debt ratio

32.51

-40.08

54.26

65.53

32.78

16.61

28.11

-61.79

73.57

 

 

 

 

 

 

 

 

 

 

Liquidity Ratio Reprocessed

-

-

-

-

-

-

-

-

-

 

Cashflow

87,383

-5.16

92,139

-42.71

160,839

-19.53

199,880

256

56,043

Net worth

623,550

9.92

567,290

13.74

498,756

46.15

341,270

138

143,132

LONG TERM STABILITY

 

 

 

 

 

 

 

 

 

Gearing

2,340.08

-43.12 4,114.28

108

1,976.32

-0.48

1,985.88

-72.76

7,289.62

 

Equity in percentage

2.11

50.71

1.40

-26.70

1.91

-23.60

2.50

147

1.01

 

Total debt ratio

46.46

-33.91 70.30

36.82

51.38

31.47

39.08

-60.05

97.82

 

 

 

 

 

 

 

 

 

 

Working capital

9,311,509

-3.44

9,643,146

-1.11

9,750,956

140

4,051,362

13.32

3,575,272

 

 

Profit & loss

 

Operating Income

116,732,814

3.34

112,963,189

-35.81

175,992,336

36.12

129,294,457

160

49,640,290

Turnover

116,721,747

3.35

112,939,955

-35.81

175,952,914

36.11

129,268,397

160

49,638,211

Total operating expenses

115,556,062

3.28

111,883,477

-36.15

175,215,450

36.26

128,588,756

160

49,271,169

Gross Operating Margin         

-

-

-

-

-

-

-

-

-

 

Operating Charges

115,567,128

3.27

111,906,710

-36.15

175,254,872

36.26

128,614,815

161

49,273,248

Employee costs

113,267

-0.74

114,114

4.00

109,722

25.81

87,211

311

21,192

Wages and salary

90,996

0.04

90,956

3.62

87,777

23.59

71,022

300

17,728

Employee pension costs        

-

-

-

-

-

-

-

-

-

Social security contributions

18,914

-3.16

19,531

0.35

19,462

40.81

13,821

368

2,953

Other employee costs

3,358

-7.42

3,627

46.07

2,483

4.86

2,368

364

510

Director remuneration

-

-

-

-

-

-

-

-

-

Amortization and depreciation

6,572

-52.81

13,926

-4.12

14,525

12.45

12,917

9.32

11,816

 

Operating result

1,165,685

10.34

1,056,478

43.26

737,464

8.51

679,641

85.17

367,042

Total financial income

10,234

-39.15

16,818

-25.99

22,723

-36.97

36,053

456

6,476

Total financial expenses

1,035,550

10.23

939,419

74.57

538,130

23.21

436,754

45.57

300,039

Results on ordinary operations before taxation

140,369

4.85

133,877

-39.71

222,057

-20.39

278,941

279

73,478

 

Extraordinary Income

-

-

-

-

1,213

-27.23

1,667

-

-

Extraordinary Charges

-

-

-

-

-

-

-

-

 

Extraordinary items

0

-

0

-100

1,213

-27.23

1,667

-

0

 

 

 

 

 

 

 

 

 

 

Results for the Year Before Taxation

140,369

4.85

133,877

-40.04

223,270

-20.43

280,608

281

73,478

Other appropriations             

-

-

-

-

-

-

-

-

-

Taxation

59,558

7.00

55,664

-27.67

76,956

-17.82

93,645

220

29,252

Results on ordinary operations

80,811

3.32

78,213

-46.10

145,101

-21.69

185,296

318

44,226

Net Result

80,811

3.32

78,213

-46.54

146,314

-21.74

186,963

322

44,227

Profit (Loss) for the year to be appointed

80,811

3.32

78,213

-46.54

146,314

-21.74

186,963

322

44,227

Dividend

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social Balance Sheet

Total

 

During the reporting year ended 31-12-2013

Full-time Employees

2

 

Part-time Employees

1

 

Total Fte Employees

3

 

 

Number of hours worked

Full-time Employees

3,628

 

Part-time Employees

885

 

Total

4,513

 

 

Personnel Charges

Full-time Employees

-

 

Part-time Employees

-

 

Total

113,267

 

Benefits In Addition To Wages -

 

During the previous reporting year

Average number employees in Fte                              3

Actual working hours

4,646

 

Personnel Charges

114,114

 

Benefits In Addition To Wages                                         -

 

 

 

 

Type of Contract

Full-Time                         Part-Time                         Total Fte

 

Unlimited Duration Contracts

2                                        1                                            3

 

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

1                                        -                                             1

 

Higher education (non university)

-                                        -                                              -

 

Higher education (university)

-                                        -                                              -

 

Women

Full-Time                         Part-Time                         Total Fte

 

Primary education

1                                           -                                       1

 

Secondairy education

-                                            1                                      1

 

Higher education (non university)

-  - -

 

Higher education (university)

-  - -

 

 

 

Working Category

Full-Time

Part-Time

Total Fte

 

Management

-

-

-

 

White collar worker

2

1

3

 

Blue collar worker

-

-

-

 

Other

-

-

-

 

 

 

New staff and leavers

Full-Time

Part-Time

Total Fte

New Starters

-

-

-

Leavers

1

-

1

 

 

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

 

Payment Information Summary

Total number of Invoices available 2

Total number of Invoices paid within or up to 30 days after the due date 1

Total number of Invoices paid more than 30 days after the due date 0

Total number of Invoices currently outstanding where the due date has not yet been reached 1

Total number of Invoices currently outstanding beyond the due date 0

 

 

Suspension of payments / moratorium history

Amount                                     -          

Details                                      -

 

 

Payment expectations

Payment expectation days        17.67

Day sales outstanding 57.04

 

 

Industry comparison

Activity code                            46761

Activity description                  Wholesale of diamonds and other precious stones

Industry average payment

expectation days                      123.77

Industry average day sales

Outstanding                             140.64

 

 

Industry quartile analysis

Payment expectations

Company result                        7.67

Lower                                       122.25

Median                                     75

Upper                                       46.13

 

 

Day sales outstanding

Company result                        57.04

Lower                                       102.58

Median                                     54.08

Upper                                       24.07

 

 

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                           HARRY WEINBERG

Position                       Principal Manager

Start Date                     01/01/2013

Street                           15 ALFRED COOLSSTRAAT ANTWERPEN

Post code                     2020

Country                        Belgium

 

Name                           JEAN JACQUES TACHÉ

Position                       Principal Manager

Start Date                     03/03/2006

Street                           72 ACACIALAAN ANTWERPEN

Post code                     2610

Country                        Belgium

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.20

UK Pound

1

Rs.100.03

Euro

1

Rs.71.91

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.