MIRA INFORM REPORT
|
Report No. : |
323745 |
|
Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
GASSAN DIAMONDS B.V. |
|
|
|
|
Registered Office : |
Nieuwe Uilenburgerstraat 173- 175 1011LN Amsterdam |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
2014 |
|
|
|
|
Date of Incorporation : |
30.10.1953 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 33082505 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Wholesale of jeweller's articles. |
|
|
|
|
No. of Employee : |
195 |
RATING & COMMENTS
|
MIRAs 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) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
NETHERLANDS ECONOMIC OVERVIEW
Netherlands, the sixth-largest economy in the euro-zone, is noted for its important role as a European transportation hub, sizable trade surplus, stable industrial relations, and moderate unemployment and inflation. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and export. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US mortgage-backed securities. In 2008, the government injected billions of dollars of capital into financial institutions to stem the deterioration. To address the economic downturn, the government also sought to stimulate the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credits. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing austerity measures in early 2011 to reduce the budget deficit, and, in 2013, the government brought the budget deficit below the euro-zone limit of 3% of GDP. Though the Dutch economy remains fragile, a gradual improvement in GDP growth in 2014 helped reduce the deficit further through an increase in government tax revenues. Private consumption remains subdued because of high unemployment, low wage growth, and still-high levels of debt, which together with tax increases, have made households reluctant to spend. Private investment and export growth are susceptible to slower activity in the Netherlands European trading partners and geopolitical tensions that constrain international trade.
|
Source
: CIA |
Summary
Company
name GASSAN
DIAMONDS B.V.
Operative
address Nieuwe Uilenburgerstraat
173- 175
1011LN Amsterdam
Netherlands
Legal
form Private Company
Registration
number KvK-nummer: 33082505
VAT-number
001438074
|
Year |
2014 |
Mutation |
2013 |
Mutation |
|
Fixed assets |
19.946.000 |
103.070,74 |
19.333 |
|
|
Total receivables |
13.196.000 |
86.170,92 |
15.296 |
|
|
Total equity |
24.966.000 |
96.290,10 |
25.901 |
|
|
Short term liabilities |
42.867.000 |
93.590,17 |
45.754 |
|
|
Net result |
-631.000 |
-24.942,52 |
2.540 |
|
|
Working capital |
18.881.000 |
92.177,99 |
20.461 |
|
|
Quick ratio |
0,34 |
-8,11 |
0,37 |
|
Contact
information
Company
name Gassan Diamonds B.V.
Trade
names Gassan Diamonds B.V.
Amsterdam Diamond Laboratory
Samuel Gassan
United Travel Organisation U.T.O.C.
National Consulting Agency
NCA
Operative
address Nieuwe Uilenburgerstraat
173- 175
1011LN Amsterdam
Netherlands
Correspondence
address Nieuwe Uilenburgerstraat
173- 175
1011LN Amsterdam
Netherlands
Telephone
number 0206225333
Fax
number 0206246084
Email
address info@gassandiamonds.nl
Website
www.gassandiamonds.nl
Registration
Registration
number KvK-nummer: 33082505
Branch
number 000017455200
VAT-number
001438074
Status
Active
First
registration company register 1953-10-30
Memorandum
1953-10-30
Establishment
date 1953-10-30
Legal
form Private Company
Legal
person since 1972-03-23
Last
proposed admendment 2001-02-02
Issued
placed capital EUR 124.280
Paid
up share capital EUR 124.280
Activities
SBI
Wholesale of jeweller's
articles (4648)
Exporter
No
Importer
No
Goal Inkopen, bewerken en
verkopen van diamant en het exploiteren van de daartoe nodige bedrijven en
goudsmidsbedrijf en kleinhandel in werken van edelmetaal. De expertise van
losse geslepen diamanten onder de handelnaam: "Amsterdam Diamond
Laboratory" en een reisbureau voor inkomend toerisme, het verzorgen van
reserveringen ven hotels, restaurants, gidsen voor Nederland bezoekende groepen
en individuelen onder de handelsnamen: "United Travel Organisation
Consultants U.T.O.C." en "National Consult Agency NCA
Relations
Shareholders
Gassan Diamonds
Holding B.V.
Nieuwe Uilenburgerstraat
173-175
1011LN AMSTERDAM
Netherlands
Registration number:
330630880000
Percentage: 100%
Liability
statements Benno Leeser
Holding B.V.
Nieuwe Uilenburgerstraat 173-175
1011LN AMSTERDAM
Netherlands
Registration number: 331747090000
date of issue: 1986-01-23
Starting date: 1986-01-22
Management
Active
management B. Leeser
(Benno)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 1983-07-08
Date of birth: 1955-06-22, Amsterdam, NL
D.P. Bijlsma (David Patrick)
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2013-12-01
Date of birth: 1971-09-16, Amsterdam, NL
J.A. van den Herik (Jorienus Adrianus)
Netherlands
Function: Commissaris
Starting date: 1995-01-01
Date of birth: 1943-11-11, Sliedrecht, NL
R. Benjamins (Ronald)
Netherlands
Function: Commissaris
Starting date: 2010-08-04
Date of birth: 1962-12-20, Amsterdam, NL
Active management
P. Wortelboer - Boomgaard (Pauline)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2010-07-01
Date of birth: 1973-09-08, Apeldoorn, NL
Employees
Fulltime 0
|
Year |
2015 |
|
Total |
195 |
Payments
Description Overeenkomstig conditie
Key
figures
|
Year |
2014 |
2013 |
2011 |
2010 |
|
Quick ratio |
0,34 |
0,37 |
0,44 |
0,42 |
|
Current ratio |
1,44 |
1,45 |
1,51 |
1,48 |
|
Working capital/ balance total |
0,23 |
0,24 |
0,25 |
0,24 |
|
Equity / balance total |
0,31 |
0,30 |
0,30 |
0,30 |
|
Equity / Fixed assets |
1,25 |
1,34 |
1,22 |
1,12 |
|
Equity / liabilities |
0,44 |
0,43 |
0,43 |
0,43 |
|
Balance total / liabilities |
1,44 |
1,43 |
1,43 |
1,43 |
|
Working capital |
18.881.000 |
20.461 |
20.866.000 |
17.410.000 |
|
Equity |
24.966.000 |
25.901 |
24.704.000 |
22.088.000 |
|
Mutation equity |
96.290,10 |
|
11,84 |
2,01 |
|
Mutation short term liabilities |
93.590,17 |
|
12,92 |
24,79 |
|
Return on total assets (ROA) |
-1,99 |
2,94 |
4,32 |
2,30 |
|
Return on equity (ROE) |
-6,50 |
9,71 |
14,33 |
7,62 |
|
Gross profit margin |
0,21 |
2,99 |
4,17 |
3,80 |
|
Net profit margin |
-0,50 |
1,73 |
1,98 |
1,24 |
|
Average collection ratio |
2,95 |
3,21 |
3,32 |
2,73 |
|
Average payment ratio |
9,59 |
9,59 |
8,78 |
7,52 |
|
Equity turnover ratio |
5,07 |
5,67 |
5,48 |
4,47 |
|
Total assets turnover ratio |
1,55 |
1,72 |
1,65 |
1,35 |
|
Fixed assets turnover ratio |
6,34 |
7,59 |
6,68 |
5,02 |
|
Inventory conversion ratio |
2,69 |
2,98 |
3,10 |
2,58 |
|
Turnover |
126.512.000 |
146.763 |
135.450.000 |
98.644.000 |
|
Gross margin |
42.978.000 |
54.250 |
48.725.000 |
38.962.000 |
|
Operating result |
259.000 |
4.391 |
5.654.000 |
3.748.000 |
|
Net result after taxes |
-632.000 |
2.540 |
2.687.000 |
1.224.000 |
|
Year |
2014 |
2013 |
2011 |
2010 |
|
Cashflow |
|
3.466 |
4.039.000 |
1.821.000 |
|
Gross profit |
|
|
135.450.000 |
98.644.000 |
|
EBIT |
|
4.391 |
5.654.000 |
3.748.000 |
|
EBITDA |
|
5.317 |
7.006.000 |
4.345.000 |
Summary
The 2014 financial result structure is a
postive working captial of 18.881.000 euro, which is in
agreement with 23 % of the total assets of the
company.
The working capital has increase with
92177.99 % compared to previous year. The ratio with
respect to the total assets of the company
has however, declined.
The improvement between 2013 and 2014 has
mainly been caused by a current liabilities
reduction.
The current ratio of the company in 2014 was
1.44. When the current ratio is below 1.5, the
company may have problems meeting its
short-term obligations.
The quick ratio in 2014 of the company was
0.34. A company with a Quick Ratio of less than
1 cannot currently pay back its current
liabilities.
The 2013 financial result structure is a
postive working captial of 20.461 euro, which is in
agreement with 24 % of the total assets of
the company.
The current ratio of the company in 2013 was
1.45. When the current ratio is below 1.5, the
company may have problems meeting its
short-term obligations.
The quick ratio in 2013 of the company was
0.37. A company with a Quick Ratio of less than
1 cannot currently pay back its current liabilities.
Financial
statement
Last
annual account 2014
Remark annual account The financial statements shown in the report
relate to the consolidated financial statements of the group.
Type
of annual account Consolidated
Annual
account Benno
Leeser Holding B.V.
Nieuwe Uilenburgerstraat 173-175
1011LN AMSTERDAM
Netherlands
Registration number: 331747090000
Balance
sheet
|
Year |
2014 |
2013 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2011-12-31 |
2010-12-31 |
|
Real estate |
17.000.000 |
|
|
|
|
Other tangible fixed assets |
2.946.000 |
|
|
|
|
Tangible fixed assets |
19.946.000 |
19.333 |
20.278.000 |
19.662.000 |
|
Financial fixed assets |
|
|
4.000 |
4.000 |
|
Fixed assets |
19.946.000 |
19.333 |
20.282.000 |
19.666.000 |
|
Total stock |
47.013.000 |
49.197 |
43.712.000 |
38.225.000 |
|
Accounts receivable |
7.473.000 |
9.494 |
11.626.000 |
10.548.000 |
|
Tax receivables |
1.161.000 |
|
|
|
|
Receivables due from group and associated companies |
4.008.000 |
|
|
|
|
Other receivables |
554.000 |
5.802 |
3.808.000 |
2.562.000 |
|
Total receivables |
13.196.000 |
15.296 |
15.434.000 |
13.110.000 |
|
Liquid funds |
1.539.000 |
1.722 |
2.527.000 |
2.212.000 |
|
Current assets |
61.748.000 |
66.215 |
61.673.000 |
53.547.000 |
|
Total assets |
81.694.000 |
85.548 |
81.955.000 |
73.213.000 |
|
Total equity |
24.966.000 |
25.901 |
24.704.000 |
22.088.000 |
|
Provisions |
2.476.000 |
2.476 |
2.806.000 |
2.797.000 |
|
Long term interest yielding debt |
|
11.417 |
13.638.000 |
12.191.000 |
|
Financial debts |
11.385.000 |
|
|
|
|
Long term liabilities |
11.385.000 |
11.417 |
13.638.000 |
12.191.000 |
|
Accounts payable |
14.374.000 |
19.276 |
15.078.000 |
11.888.000 |
|
Liabilities towards credit institutes |
24.920.000 |
|
|
|
|
Tax liabilities |
1.366.000 |
|
|
|
|
Other short term liabilities |
2.207.000 |
26.478 |
25.729.000 |
24.249.000 |
|
Short term liabilities |
42.867.000 |
45.754 |
40.807.000 |
36.137.000 |
|
Total short and long term liabilities |
56.728.000 |
59.647 |
57.251.000 |
51.125.000 |
|
Total liabilities |
81.694.000 |
85.548 |
81.955.000 |
73.213.000 |
Summary The total assets of the company increased
with 95394.93 % between 2013 and 2014.
The total asset increase is retrievable in
the fixed asset growth of 103070.74 %.
The asset growth has mainly been financed by
a Net Worth increase of 96290.1 %. Debt,
however, grew with 95006.21 %.
In 2014 the assets of the company were 24.42
% composed of fixed assets and 75.58 % by
current assets. The assets are being financed
by an equity of 30.56 %, and total debt of
69.44 %.
In 2013 the assets of the company were 22.6 %
composed of fixed assets and 77.4 % by
current assets. The assets are being financed
by an equity of 30.28 %, and total debt of
69.72 %.
Profit
and loss
|
Year |
2014 |
2013 |
2011 |
2010 |
|
Revenues |
|
146.763 |
136.128.000 |
98.994.000 |
|
Other operating income |
|
|
678.000 |
350.000 |
|
Net turnover |
126.512.000 |
146.763 |
135.450.000 |
98.644.000 |
|
Cost of sales |
83.534.000 |
|
|
|
|
Gross margin |
42.978.000 |
54.250 |
48.725.000 |
38.962.000 |
|
Extra operating income |
11.000 |
|
|
|
|
Wages and salaries |
|
17.390 |
15.533.000 |
13.831.000 |
|
Amorization and depreciation |
|
926 |
1.352.000 |
597.000 |
|
Sales |
31.506.000 |
92.513 |
86.725.000 |
59.682.000 |
|
other operating costs |
11.223.000 |
31.543 |
26.864.000 |
21.136.000 |
|
Operating expenses |
42.729.000 |
142.372 |
130.474.000 |
95.246.000 |
|
Operating result |
260.000 |
4.391 |
5.654.000 |
3.748.000 |
|
Financial expenses |
|
|
|
2.064.000 |
|
Financial result |
-1.883.000 |
-1.877 |
-2.114.000 |
-2.064.000 |
|
Result on ordinary operations before taxes |
-1.623.000 |
2.514 |
3.540.000 |
1.684.000 |
Summary The turnover of the company grew with
86101.56 % between 2013 and 2014.
The gross profit of the company grew with
79122.12 % between 2013 and 2014.
The operating result of the company grew with
5798.43 % between 2013 and 2014. This
evolution implies an increase of the
company's economic profitability.
The result of these changes is a reduction of
the company's Economic Profitability of -167.69
% of the analysed period, being equal to 2013
% in the year 2014.
This fall has contributed to a asset turnover
decrease, whose index evolved from -9.88 to a
level of 1.55.
The Net Result of the company increased by
-24981.89 % between 2013 and 2014.
The company's Financial Profitability has
been positively affected by the financial activities in
comparison to the EBITs behaviour. The result
of these variations is a profitability increase of
-166.94 % of the analysed period, being -6.5
% in the year 2014.
The company's financial profitability has
been positively affected by its financial structure.
The company's Financial Profitability has
been neutrally affected by the financial activities in
comparison to the EBITs behaviour. The result
of these variations is the unchanged
profitability of the analysed period, remaining unchanged at 9.71 % in
the year 2013.
Analysis
Branch
(SBI) Wholesale trade (no motor
vehicles and motorcycles) (46)
Region Groot Amsterdam
In the Netherlands 109662 of the companies
are registered with the SBI code 46
In the region Groot Amsterdam 10512 of the companies
are registered with the SBI code 46
In the Netherlands 2387 of the bankrupcties
are published within this sector
In the region Groot Amsterdam 209 of the
bankruptcies are published within this sector
The risk of this specific sector in the
Netherlands is normal
The risk of this specific sector in the region Groot Amsterdam is normal
Publications
Consent
statements 14-04-2015: Voor boekjaar
2014 is een instemmingsverklaring gedeponeerd.
24-04-2014: Voor boekjaar 2013 is een
instemmingsverklaring gedeponeerd.
04-04-2013: Voor boekjaar 2012 is een
instemmingsverklaring gedeponeerd.
05-04-2012: Voor boekjaar 2011 is een
instemmingsverklaring gedeponeerd.
Functions 10-01-2013: Per 31-12-2011
is commissaris Anita Beatrix Leeser-Gassan uit functie
getreden.
Company
structure
Relations 13
Benno
Leeser B.V.
Nieuwe
Uilenburgerstraat 173-175
1011LN
AMSTERDAM
Netherlands
Registration
number: 331747100000
Benno Leeser Tussenholding B.V.
Nieuwe
Uilenburgerstraat 173-175
1011LN
AMSTERDAM
Netherlands
Registration
number: 539718760000
Benno Leeser Holding B.V.
Nieuwe
Uilenburgerstraat 173-175
1011LN
AMSTERDAM
Netherlands
Registration
number: 331747090000
Gassan Diamonds Holding B.V.
Nieuwe
Uilenburgerstraat 173-175
1011LN
AMSTERDAM
Netherlands
Registration
number: 330630880000
Gassan Diamonds B.V.
Nieuwe
Uilenburgerstraat 173- 175
1011LN
Amsterdam
Netherlands
Registration
number: 330825050000
Amsterdam Diamond Center B.V.
Rokin
1- 5
1012KK
AMSTERDAM
Netherlands
Registration
number: 331506260000
Gassan Schiphol B.V.
Vertrekpassage
1
1118AP
SCHIPHOL
Netherlands
Registration
number: 340619940000
Gassan PC B.V.
P
Cornelisz Hooftstr 102H
1071CC
AMSTERDAM
Netherlands
Registration
number: 602244870000
Registration number: 616482640000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 SCs
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.