MIRA INFORM REPORT

 

 

Report No. :

323692

Report Date :

21.05.2015

           

IDENTIFICATION DETAILS

 

Name :

STEEL INTERNATIONAL NV

 

 

Registered Office :

Nassaustraat 4-Bus 501 2000 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

30.10.1995

 

 

Com. Reg. No.:

456383119

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

Line of Business :

Wholesale of metals and metal ores.

 

 

No. of Employee :

1

 

 

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 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                     456383119

Branche Unit Number               2073980259

Company name                        STEEL INTERNATIONAL NV

Address                                   NASSAUSTRAAT 4-BUS 501

2000 ANTWERPEN

Number of staff                        1

Date of establishment               30/10/1995

Telephone number                   032313630

Fax number                              032319733

 

 

Commentary

 

The business was established over 19 years ago.

The business has 1 employees.

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

Operating Result in the latest trading period decreased 88% on the previous trading period.

A 39% decline in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 133% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 99% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

-143,545

815,954

795,799

31/12/2012

 

422,974

959,223

959,223

31/12/2011

 

558,276

929,736

923,475

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

2,740,786

1

63,000

-138,879

31/12/2012

-

1

63,000

284,623

31/12/2011

3,929,413

1

63,000

373,954

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

55.63

Industry  average  day  sales

249.06

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

456383119

Company  name

STEEL  INTERNATIONAL  NV

Fax  number

032319733

Date  founded

30/10/1995

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46720

Liable  for  VAT

yes

Activity  description

Wholesale  of  metals  and

VAT  Number

BE.0456.383.119  Check  VAT

 

metal  ores

 

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)

 

JIC  Code

218

Description

Additional  national  joint  committee  for  the  employees

category

 

 

 

SIGNIFICANT  EVENTS

 

Event  Date

04/03/2015

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar 04-03-2015: Worden herbenoemd tot bestuurders tot de algemene vergadering van

2021: Hiscot BVBA en RiJo Veenendaal BV. Worden herbenoemd tot gedelegeerd bestuurders tot

de algemene vergadering van 2021: Marc Hoeben en Johannes M

 

 

Event  Date

04/03/2015

Event  Description

re-appointment  of  director(s)

Event  Details

arinus  Heuvelman.

 

 

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

20,155

-

-

-

6,261

236

1,861

-85.07

12,463

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

20,155

-

-

-

136

-84.20

861

-45.75

1,587

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

-

-

-

-

-

-

-

-

-

Furniture  &  Vehicles

8,341

-

-

-

136

-84.20

861

-45.75

1,587

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

11,814

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

6,125

512

1,000

-90.81

10,876

Total  current  assets

2,720,631

-40.03

4,536,555

15.64

3,923,152

40.56

2,791,030

-41.16

4,743,064

Inventories

1,881,809

18.06

1,593,932

-5.58

1,688,048

24.41

1,356,792

-54.97

3,012,828

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

1,881,809

18.06

1,593,932

-5.58

1,688,048

24.41

1,356,792

-54.97

3,012,828

Trade  debtors

731,653

-28.63

1,025,117

43.87

712,541

-35.75

1,109,099

-35.06

1,708,010

Other  amounts  receivable

19,591

-80.89

102,498

-10.90

115,036

1656

6,549

-68.04

20,489

Cash

612

-99

1,814,989

28.97

1,407,291

341

318,587

143407

222

Miscellaneous  current  assets

0

-100

19

-91.95

236

7766

3

-99

1,515

Total  Assets

2,740,786

-39.58

4,536,555

15.45

3,929,413

40.69

2,792,891

-41.27

4,755,527

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

815,954

-14.94

959,223

3.17

929,736

1.44

916,507

13.40

808,234

Issued  share  capital

63,000

0

63,000

0

63,000

0

63,000

0

63,000

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

752,954

-15.99

896,223

3.40

866,736

1.55

853,507

14.53

745,234

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

1,924,832

-46.19

3,577,332

19.26

2,999,677

59.86

1,876,384

-52.46

3,947,293

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

1,554,886

-42.81

2,719,000

34.34

2,024,000

304

500,000

-79.74

2,467,418

Trade  creditors

328,951

-41.69

564,187

-0.68

568,056

-16.63

681,394

-38.21

1,102,826

Amounts  Payable  for  Taxes,

9,535

3.00

9,257

14.69

8,071

-45.19

14,725

90.64

7,724

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

31,460

-88.96

284,888

-28.70

399,550

-41.27

680,265

84.19

369,325

Total  current  liabilities

1,924,832

-46.19

3,577,332

19.26

2,999,677

59.86

1,876,384

-52.46

3,947,293

Total  Liabilities

2,740,786

-39.58

4,536,555

15.45

3,929,413

40.69

2,792,891

-41.27

4,755,527

 

 

RATIO  ANALYSIS

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

-17.59

-139

44.10

-26.56

60.05

-52.03

125.19

58.49

78.99

Return  on  total  assets  employed

-5.24

-156

9.32

-34.41

14.21

-65.41

41.08

205

13.43

Return  on  net  assets  employed

-17.59

-139

44.10

-26.56

60.05

-52.03

125.19

58.49

78.99

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

 

SHORT  TERM  STABILITY

 

Current  ratio

1.41

11.02

1.27

-3.05

1.31

-12.08

1.49

24.17

1.20

Liquidity  ratio  /  acid  ratio

0.44

-46.34

0.82

9.33

0.75

-1.32

0.76

72.73

0.44

Current  debt  ratio

2.36

-36.73

3.73

15.48

3.23

57.56

2.05

-57.99

4.88

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

-138,879

-148

284,623

-23.89

373,954

-51.37

768,999

77.95

432,147

Net  worth

815,954

-14.94

959,223

3.17

929,736

1.44

916,507

13.40

808,234

 

LONG  TERM  STABILITY

 

Gearing

190.56

-32.77

283.46

30.21

217.70

299

54.55

-82.13

305.29

Equity  in  percentage

29.77

40.82

21.14

-10.65

23.66

-27.91

32.82

93.06

17.00

Total  debt  ratio

2.36

-36.73

3.73

15.48

3.23

57.56

2.05

-57.99

4.88

Working  capital

795,799

-17.04

959,223

3.87

923,475

0.97

914,646

14.94

795,771

 

 

PROFIT  &  LOSS

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

168,962

-79.09

808,023

6.80

756,557

-50.19

1,518,752

33.53

1,137,376

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

76,989

3.16

74,634

15.91

64,392

2.92

62,563

0.26

62,403

Wages  and  salary

60,313

3.79

58,109

14.79

50,620

2.50

49,384

0.47

49,152

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

15,102

4.35

14,472

15.70

12,508

3.19

12,121

0.07

12,112

Other  employee  costs

1,574

-23.33

2,053

62.42

1,264

19.47

1,058

-7.11

1,139

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

4,390

3127

136

-81.24

725

-0.14

726

-78.15

3,323

Operating  result

83,876

-88.19

709,977

2.99

689,376

-52.54

1,452,562

35.88

1,068,984

Total  financial  income

213,160

-47.43

405,489

-1.57

411,950

40.44

293,321

325

69,015

Total  financial  expenses

440,581

-36.38

692,492

27.52

543,050

-9.27

598,544

19.82

499,545

Results  on  ordinary  operations  before

-143,545

-133

422,974

-24.24

558,276

-51.34

1,147,339

79.71

638,454

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

3,500

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-100

3,500

-

0

Results  for  the  Year  Before  Taxation

-143,545

-133

422,974

-24.24

558,276

-51.49

1,150,839

80.25

638,454

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

-276

-100

138,487

-25.16

185,047

-51.63

382,566

82.50

209,630

Results  on  ordinary  operations  after  taxation

-143,269

-150

284,487

-23.78

373,229

-51.20

764,773

78.34

428,824

Net  result

-143,269

-150

284,487

-23.78

373,229

-51.42

768,273

79.16

428,824

Profit  (Loss)  for  the  Year  to  be  appropiated

-143,269

-150

284,487

-23.78

373,229

-51.42

768,273

79.16

428,824

Dividends

-

-

255,000

-29.17

360,000

-45.45

660,000

120

300,000

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2013

 

Full-time  Employees

1

Part-time  Employees

-

Total  Fte  Employees

1

Number  of  hours  worked

 

Full-time  Employees

1,883

Part-time  Employees

-

Total

1,883

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

-

Total

76,989

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

1,883

Personnel  Charges

74,634

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

1

-

1

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

 

 

Gender and Education Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary education

-

-

-

Secondairy education

-

-

-

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary education

-

-

-

Secondairy education

1

-

1

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

1

-

1

Blue  collar  worker

-

-

-

Other

-

-

-

 

 

Temporary  personnel

Total

Average  number  of  temporary  staff

-

Actual  working  hours

-

Cost  of  temporary  staff

-

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

-

-

-

Leavers

-

-

-

 

 

Total  of  formal  continuing  vocational  training  initiatives

 

 

for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  less  formal  and  informal  continuing  vocational

 

 

training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  initial  training  initiatives  at  the  expense  of  the

 

 

employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

 

INDUSTRY COMPARISON

 

Activity code                            46720

Activity description                 Wholesale of metals and metal ores

industry average credit

rating                                       69.32

Industry average credit

limit                                         193568.18

 

 

Payment Information

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

Amount

-

Details

-

 

PAYMENT EXPECTATIONS

 

Payment  expectation  days

-

Day  sales  outstanding

-

 

INDUSTRY  COMPARISON

 

Activity  code

46720

Activity  description

Wholesale  of  metals  and  metal  ores

Industry  average  payment

55.63

expectation  days

 

Industry  average  day  sales

249.06

outstanding

 

 

 

INDUSTRY  QUARTILE  ANALYSIS

Payment  expectations

 

Company  result

-

Lower

82.56

Median

60.65

Upper

34.14

 

 

DAY  SALES  OUTSTANDING

Company  result

-

Lower

54.88

Median

32.31

Upper

18.16

 

 

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

MARC  HENRI  PIERRE  HOEBEN

Position

Director

Start  Date

28/04/2004

Street

29 BAAN  OP  SAS  TWEE  BRECHT

Post  code

2960

Country

Belgium

Name

JOHANNES  MARINUS  HEUVELMAN

Position

Managing  Director

Start  Date

27/05/2009

Street

51 WILLEM  BARENTSZSTRAAT  VEENENDAAL

Post  code

3902 DE

Country

The  Netherlands

Position

Director

Start  Date

01/10/2004

Street

51 WILLEM  BARENTSZSTRAAT  VEENENDAAL

Post  code

3902 DE

Country

The  Netherlands

Position

Legal  Representative

Start  Date

28/04/2004

Street

51 WILLEM  BARENTSZSTRAAT  VEENENDAAL

Post  code

3902 DE

Country

The  Netherlands

Name

RIJO  VEENENDAAL  B.V.

Position

Director

Start  Date

01/10/2004

Street

 

Post  code

 

Country

 

Name

MATHAN  VEENENDAAL  B.V.

Position

Director

Start  Date

28/04/2004

Street

 

Post  code

 

Country

 

 

FORMER DIRECTOR DETAILS

 

Name

MARC  HENRI  PIERRE  HOEBEN

Position

Managing  Director

Start  Date

31/03/2009

End  Date

30/03/2015

Street

29 BAAN  OP  SAS  TWEE  BRECHT

Post  code

2960

Country

Belgium

Name

HISCOT  BVBA

Position

Director

Start  Date

31/03/2009

End  Date

30/03/2015

Date  of  birth

27/10/1995

Street

29 BAAN  OP  SAS  TWEE  BRECHT

Post  code

2960

Country

Belgium

Name

RIJO  VEENENDAAL  BV

Position

Director

Start  Date

31/03/2009

End  Date

30/03/2015

Street

51 WILLEM  BARENTSZSTRAAT

Post  code

3902

Country

The  Netherlands

Name

RIJO  VEENENDAAL

Position

Director

Start  Date

31/03/2009

End  Date

31/12/2013

Street

51 WILLEM  BARENTSZSTRAAT

Post  code

3902

Country

The  Netherlands

Name

RIJO  VEENENDAAL

Position

Director

Start  Date

31/03/2009

End  Date

31/12/2011

Street

51 WILLEM  BARENTSZSTRAAT

Post  code

3902

Country

The  Netherlands

Name

DORUS  HEUVELMAN

Position

Managing  Director

Start  Date

28/09/1999

End  Date

Unknown  date

Street

8 GRASPAPIER

Post  code

3906

Country

The  Netherlands

Position

Director

Start  Date

30/10/1995

End  Date

28/04/2004

Street

8 GRASPAPIER

Post  code

3906

Country

The  Netherlands

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.86

UK Pound

1

Rs.98.89

Euro

1

Rs.70.73

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.