MIRA INFORM REPORT

 

 

Report No. :

323882

Report Date :

25.05.2015

 

IDENTIFICATION DETAILS

 

Name :

3CRT+ BVBA

 

 

Registered Office :

Molenpad  53 2275 Lille

 

 

Country :

Belgium 

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

26.08.2011

 

 

Com. Reg. No.:

839032182

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale  of  diamonds  and other  precious  stones

 

 

No. of Employees :

Not Available

 

 

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

 

 

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

839032182

Branche  Unit  Number

2203215537

Company  name

3CRT+  BVBA

Address

MOLENPAD  53

 

2275 LILLE

Number  of  staff

0

Date  of  establishment

26/08/2011

 

 

Commentary

 

No employees are recorded for this business.

The business has been at the address for over 3 years.

Net Worth increased by 48% during the latest trading period.

A 22% growth in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 73% compared to the previous trading period.

The business saw an increase in their Cash Balance of 260% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

16,618

36,811

36,207

31/12/2012

 

61,556

24,756

23,710

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

354,336

0

6,200

12,497

31/12/2012

288,383

0

6,200

62,144

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

126.32

Industry  average  day  sales

184.98

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

839032182

Company  name

3CRT+  BVBA

Fax  number

 

Date  founded

26/08/2011

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.0839.032.182  Check  VAT number

Belgian  Bullettin  of  Acts Publications

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

Weeks

52

 

70

Currency

EUR

 

EUR

Total  fixed  assets

604

-42.21

1,045

Intangible  fixed  assets

0

-

0

Tangible  fixed  assets

604

-42.21

1,045

Land  &  building

-

-

-

Plant  &  machinery

-

-

-

Furniture  &  Vehicles

604

-42.21

1,045

Leasing  &  Other  Similar  Rights

-

-

-

Other  tangible  assets

0

-

0

Financial  fixed  assets

-

-

-

Total  current  assets

353,732

23.11

287,338

Inventories

246,647

3.33

238,695

Raw  materials  &  consumables

-

-

-

Work  in  progress

0

-

0

Finished  goods

0

-

0

Other  stocks

246,647

3.33

238,695

Trade  debtors

56,834

20.74

47,072

Other  amounts  receivable

48,294

4598

1,028

Cash

1,956

260

542

Miscellaneous  current  assets

0

-

0

Total  Assets

354,336

22.87

288,383

Liabilities

 

 

 

Total  shareholders  equity

36,811

48.70

24,756

Issued  share  capital

6,200

0

6,200

Share  premium  account

-

-

-

Revaluation  reserve

-

-

-

Reserves

30,611

64.97

18,556

Provisions  for  Liabilities  &  Charges

0

-

0

Deffered  taxes

-

-

-

Creditors

317,525

20.44

263,627

Other  long  term  loans

-

-

-

Long  term  group  loans

-

-

-

Other  long  term  liabilities

0

-

0

Total  long  term  debts

0

-

0

Current  portion  of  long  term  debt

-

-

-

Financial  debts

2,049

-

-

Trade  creditors

315,476

19.79

263,367

Amounts  Payable  for  Taxes,  Remuneration  &  Social  Security

-

-

-

Miscellaneous  current  liabilities

0

-100

260

Total  current  liabilities

317,525

20.44

263,627

Total  Liabilities

354,336

22.87

288,383

ratio  analysis

 

 

 

TRADING  PERFORMANCE

 

 

 

Profit  Before  Tax

-

-

-

Return  on  capital  employed

45.14

-81.85

248.65

Return  on  total  assets  employed

4.69

-78.03

21.35

Return  on  net  assets  employed

45.14

-81.85

248.65

Sales  /  net  working  capital

-

-

-

Stock  turnover  ratio

-

-

-

Creditor  days

-

-

-

Debtor  days

-

-

-

SHORT  TERM  STABILITY

 

 

 

Current  ratio

1.11

1.83

1.09

Liquidity  ratio  /  acid  ratio

0.34

88.89

0.18

Current  debt  ratio

8.63

-18.97

10.65

Liquidity  ratio  reprocessed

-

-

-

Cashflow

12,497

-79.89

62,144

Net  worth

36,811

48.70

24,756

LONG  TERM  STABILITY

 

 

 

Gearing

5.57

-

-

Equity  in  percentage

10.39

21.10

8.58

Total  debt  ratio

8.63

-18.97

10.65

Working  capital

36,207

52.71

23,710

Profit  &  loss

 

 

 

Operating  Income

-

-

-

Turnover

-

-

-

Total  operating  expenses

-

-

-

Gross  Operating  Margin

208,110

156

-133,387

Operating  Charges

-

-

-

Employee  costs

-

-

-

Wages  and  salary

-

-

-

Employee  pension  costs

-

-

-

Social  security  contributions

-

-

-

Other  employee  costs

0

-

0

Director  remuneration

-

-

-

Amortization  and  depreciation

441

-25.00

588

Operating  result

207,231

153

-134,738

Total  financial  income

-

-

199,568

Total  financial  expenses

190,614

5723

3,273

Results  on  ordinary  operations  before  taxation

16,618

-73.00

61,556

Extraordinary  Income

-

-

-

Extraordinary  Charges

-

-

-

Extraordinary  items

0

-

0

Results  for  the  Year  Before  Taxation

16,618

-73.00

61,556

Other  appropriations

-

-

-

Taxation

4,562

1900866

0

Results  on  ordinary  operations  after  taxation

12,055

-80.42

61,556

Net  result

12,055

-80.42

61,556

Profit  (Loss)  for  the  Year  to  be  appropiated

12,055

-80.42

61,556

Dividends

-

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2013

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

-

 

Total  Fte  Employees

 

-

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

-

 

Total

 

-

 

Personnel  Charges

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

-

 

Total

 

-

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

-

 

Actual  working  hours

 

-

 

Personnel  Charges

 

-

 

Benefits  In  Addition  To  Wages

 

-

 

 

 

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

-

-

Contracts

 

 

 

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

-

-

-

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

-

-

-

Blue  collar  worker

-

-

-

Other

-

-

-

Temporary  personnel

 

Total

 

Average  number  of  temporary  staff

 

-

 

Actual  working  hours

 

-

 

Cost  of  temporary  staff

 

-

 

 

 

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

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

industry  average  credit

64.48

 

 

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 expectation days

126.32

Industry  average  day  sales

184.98

 

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

24.31

 

 

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

DANNY  JOZEF  LOUIS  RAEYMAEKERS

Position

Principal  Manager

Start  Date

26/08/2011

Date  of  birth

07/03/1964

Street

53 MOLENPAD  LILLE

Post  code

2275

Country

Belgium

 

 

Former  director  details

 

DIAMOND INDUSTRY – INDIA

 

-            From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C.  India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

-            The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

-            The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

-            Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

-            Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

-            Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

-            Excerpts from Times of India dated 30th October 2010 is as under –

 

-            Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

 

-            The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.57

UK Pound

1

Rs.99.67

Euro

1

Rs.70.83

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

VNT

 

               

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.