|
Report No. : |
349883 |
|
Report Date : |
10.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
EUROVAN NV |
|
|
|
|
Registered Office : |
Stevoortse Kiezel 6-Bus 2, 3511 Hasselt |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
10.05.1993 |
|
|
|
|
Com. Reg. No.: |
450053868 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Manufacture of Basic Pharmaceutical Products. |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Belarus |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BELARUS - ECONOMIC OVERVIEW
As part of the former Soviet Union, Belarus had a relatively
well-developed, though aging industrial base; it retained this industrial base -
which is now outdated, energy inefficient, and dependent on subsidized Russian
energy and preferential access to Russian markets - following the breakup of
the USSR. The country also has a broad agricultural base which is largely
inefficient and dependent on government subsidies. After an initial burst of
capitalist reform from 1991-94, including privatization of smaller state
enterprises and some service sector businesses, creation of institutions of
private property, and development of entrepreneurship, Belarus' economic
development greatly slowed. About 80% of all industry remains in state hands,
and foreign investment has been hindered by a climate hostile to business. A
few banks, which had been privatized after independence, were renationalized.
State banks account for 75% of the banking sector. Economic output, which had
declined for several years following the collapse of the Soviet Union, revived
in the mid-2000s thanks to the boom in oil prices. Belarus has only small
reserves of crude oil, though it imports most of its crude oil and natural gas
from Russia at prices substantially below the world market. Belarus exported
refined oil products at market prices produced from Russian crude oil purchased
at a steep discount. In late 2006, Russia began a process of rolling back its
subsidies on oil and gas to Belarus. Tensions over Russian energy reached a
peak in 2010, when Russia stopped the export of all subsidized oil to Belarus
save for domestic needs. In December 2010, Russia and Belarus reached a deal to
restart the export of discounted oil to Belarus. In 2015, Belarus continued to
import Russian crude oil at a discounted price. However, the plunge in global
oil prices heavily reduced revenues. Little new foreign investment has occurred
in recent years. In 2011, a financial crisis began, triggered by government
directed salary hikes unsupported by commensurate productivity increases. The
crisis was compounded by an increased cost in Russian energy inputs and an
overvalued Belarusian ruble, and eventually led to a near three-fold
devaluation of the Belarusian ruble in 2011. In November 2011, Belarus agreed
to sell to Russia its remaining shares in Beltransgaz, the Belarusian natural
gas pipeline operator, in exchange for reduced prices for Russian natural gas.
Receiving more than half of a $3 billion loan from the Russian-dominated
Eurasian Economic Community (EurAsEC) Bail-out Fund, a $1 billion loan from the
Russian state-owned bank Sberbank, and the $2.5 billion sale of Beltranzgas to
Russian state-owned Gazprom helped stabilize the situation in 2012;
nevertheless, the Belarusian currency lost more than 60% of its value, as the
rate of inflation reached new highs in 2011 and 2012, before calming in 2013.
As of January 2014, the final tranche of the EurAsEC loan has been delayed. In
December 2013, Russia announced a new loan for Belarus of up to $2 billion for
2014. Notwithstanding foreign assistance, the Belarusian economy continued to
struggle under the weight of high external debt servicing payments and trade
deficit. In mid-December 2014, structural economic shortcomings were aggravated
by the devaluation of the Russian ruble and triggered a near 40% devaluation of
the Belarusian ruble. Belarus entered 2015 with stagnant economic growth and
reduced hard currency reserves, with under one month of import cover.
|
Source
: CIA |
|
Business
Number |
450053868 |
|
Branche
Unit Number |
2066653096 |
|
Company
name |
EUROVAN NV |
|
Address |
Stevoortse Kiezel 6-Bus 2, 3511 Hasselt |
|
Number
of staff |
- |
|
Date
of establishment |
10/05/1993 |
|
Telephone
number |
- |
|
Fax number |
- |
The
business was established over 22 years ago.
No
employees are recorded for this business.
The
business has been at the address for over 22 years.
Net
Worth decreased by 22% during the latest trading period.
The
business saw a decrease in their Cash Balance of 42% during the latest trading
period.
Working
Capital is a negative amount during the latest trading period.
ACCOUNTS
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2014 |
-- |
-2,218 |
7,806 |
-4,593 |
|
31/12/2013 |
-- |
-2,788 |
10,024 |
-4,910 |
|
31/12/2012 |
-- |
-2,939 |
12,812 |
-4,658 |
|
|
-- |
|
|
|
|
ACCOUNTS |
|
|
|
|
|
DATE OF
LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2014 |
12,644 |
- |
62,000 |
318 |
|
31/12/2013 |
15,357 |
- |
62,000 |
-252 |
|
31/12/2012 |
18,445 |
- |
62,000 |
-404 |
|
Past payments |
|
Payment expectation days |
-- |
|
Industry average payment |
55.53 |
Industry average day sales |
94.13 |
|
expectation days |
|
outstanding |
|
|
Day sales outstanding |
-- |
|
|
BANKRUPTCY
DETAILS
Court action type No
PROTESTED
BILLS
Bill amount -
NSSO
DETAILS
Date of summons –
|
Business Number |
450053868 |
Company Name |
EUROVAN NV |
|
Fax Number |
- |
Date Founded |
10/05/1993 |
|
Company status |
active |
Company Type |
Public Limited Company |
|
Currency |
Euro (€) |
Date of Latest Accounts |
31/12/2014 |
|
Activity Code |
21100 |
Liable for VAT |
no |
|
Activity Description |
Manufacture
of basic pharmaceutical products |
Belgian Bullettin of Acts Publications |
Moniteur
Belge |
|
Registered contractor number |
- |
|
Contractor description |
- |
|
Date struck off register |
|
|
PERSONNEL
(NSSO CLASSIFICATION) |
|
|
Code |
- |
|
Description |
- |
|
|
|
|
SIGNIFICANT
EVENTS |
|
|
Event Date |
09/11/2012 |
|
Event Description |
-- |
|
Event Details |
Omzetting aandelen aan toonder in aandelen op naam. |
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
Annual accounts |
31-12-2014 |
% |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total
fixed assets |
12,399 |
-16.98 |
14,934 |
-14.52 |
17,470 |
-12.67 |
20,005 |
-11.25 |
22,541 |
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible
fixed assets |
12,399 |
-16.98 |
14,934 |
-14.52 |
17,470 |
-12.67 |
20,005 |
-11.25 |
22,541 |
|
Land
& building |
12,399 |
-10.71 |
13,886 |
-9.67 |
15,373 |
-8.82 |
16,861 |
-8.11 |
18,348 |
|
Plant
& machinery |
0 |
-100 |
1,048 |
-50.01 |
2,096 |
-33.33 |
3,145 |
-25.00 |
4,193 |
|
Furniture
& Vehicles |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Leasing
& Other Similar Rights |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial
fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
current assets |
245 |
-42.04 |
423 |
-56.63 |
975 |
182 |
345 |
11.14 |
311 |
|
Inventories |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Raw
materials & consumables |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Work
in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished
goods |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade
debtors |
0 |
- |
0 |
-100 |
600 |
- |
0 |
- |
0 |
|
Other
amounts receivable |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Cash |
245 |
-42.04 |
423 |
12.71 |
375 |
8.75 |
345 |
11.14 |
311 |
|
Miscellaneous
current assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
Assets |
12,644 |
-17.67 |
15,357 |
-16.74 |
18,445 |
-9.36 |
20,351 |
-10.94 |
22,852 |
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
Total shareholder equity |
7,806 |
-22.13 |
10,024 |
-21.76 |
12,812 |
-18.66 |
15,751 |
-21.42 |
20,045 |
|
Issued share capital |
62,000 |
0 |
62,000 |
0 |
62,000 |
0 |
62,000 |
0 |
62,000 |
|
Share premium account |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Reserves |
-54,194 |
-4.27 |
-51,976 |
-5.67 |
-49,188 |
-6.35 |
-46,249 |
-10.23 |
-41,955 |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered taxes |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Creditors |
4,838 |
-9.28 |
5,333 |
-5.33 |
5,633 |
22.47 |
4,599 |
63.88 |
2,807 |
|
Other long term loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
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 |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial debts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade creditors |
0 |
- |
0 |
- |
0 |
- |
0 |
-100 |
998 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous current liabilities |
4,838 |
-9.28 |
5,333 |
-5.33 |
5,633 |
22.47 |
4,599 |
154 |
1,808 |
|
Total current liabilities |
4,838 |
-9.28 |
5,333 |
-5.33 |
5,633 |
22.47 |
4,599 |
63.88 |
2,807 |
|
Total Liabilities |
12,644 |
-17.67 |
15,357 |
-16.74 |
18,445 |
-9.36 |
20,351 |
-10.94 |
22,852 |
|
RATIO
ANALYSIS |
|
|
|
|
|
|
|
|
|
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit
Before Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Return
on capital employed |
-28.41 |
-2.16 |
-27.81 |
-21.23 |
-22.94 |
84.15 |
-27.26 |
-307 |
-6.69 |
|
Return
on total assets employed |
-17.54 |
96.64 |
-18.15 |
-13.94 |
-15.93 |
75.50 |
-21.10 |
-259 |
-5.87 |
|
Return
on net assets employed |
-28.41 |
-2.16 |
-27.81 |
-21.23 |
-22.94 |
84.15 |
-27.26 |
-307 |
-6.69 |
|
Sales
/ net working capital |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Stock
turnover ratio |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditor
days |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Debtor days |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current
ratio |
0.05 |
-37.50 |
0.08 |
-52.94 |
0.17 |
112 |
0.08 |
-27.27 |
0.11 |
|
Liquidity
ratio / acid ratio |
0.05 |
-37.50 |
0.08 |
-52.94 |
0.17 |
112 |
0.08 |
-27.27 |
0.11 |
|
Current
debt ratio |
0.62 |
16.98 |
0.53 |
20.45 |
0.44 |
51.72 |
0.29 |
107 |
0.14 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
318 |
126 |
-252 |
62.45 |
-404 |
22.95 |
-1,758 |
-247 |
1,194 |
|
Net worth |
7,806 |
-22.13 |
10,024 |
-21.76 |
12,812 |
-18.66 |
15,751 |
-21.42 |
20,045 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Equity in percentage |
61.74 |
-5.41 |
65.27 |
-6.03 |
69.46 |
-10.26 |
77.40 |
-11.76 |
87.72 |
|
Total debt ratio |
0.62 |
16.98 |
0.53 |
20.45 |
0.44 |
51.72 |
0.29 |
107 |
0.14 |
|
Working capital |
-4,593 |
93.54 |
-4,910 |
-5.42 |
-4,658 |
-9.48 |
-4,254 |
-70.44 |
-2,496 |
|
PROFIT
& LOSS |
|
|
|
|
|
|
|
|
|
|
Operating Income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total operating expenses |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Operating Margin |
1,245 |
98.96 |
626 |
-31.33 |
912 |
-25.60 |
1,225 |
-44.98 |
2,227 |
|
Operating Charges |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Employee costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Wages and salary |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Employee pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security contributions |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other employee costs |
- |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Director remuneration |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Amortization and depreciation |
2,536 |
-0.02 |
2,536 |
0.02 |
2,536 |
0 |
2,536 |
0 |
2,536 |
|
Operating result |
-2,176 |
79.00 |
-2,755 |
94.62 |
-2,912 |
68.26 |
-4,266 |
-239 |
-1,258 |
|
Total financial income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total financial expenses |
42 |
22.24 |
34 |
23.73 |
27 |
-2.17 |
28 |
-66.40 |
84 |
|
Results on ordinary operations
before taxation |
-2,218 |
79.55 |
-2,788 |
94.86 |
-2,939 |
68.45 |
-4,294 |
-220 |
-1,342 |
|
Extraordinary Income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary Charges |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary items |
- |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Results for the Year Before Taxation |
-2,218 |
79.55 |
-2,788 |
94.86 |
-2,939 |
68.45 |
-4,294 |
-220 |
-1,342 |
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Results on ordinary operations
after taxation |
-2,218 |
79.55 |
-2,788 |
94.86 |
-2,939 |
68.45 |
-4,294 |
-220 |
-1,342 |
|
Net result |
-2,218 |
79.55 |
-2,788 |
94.86 |
-2,939 |
68.45 |
-4,294 |
-220 |
-1,342 |
|
Profit (Loss) for the Year
to be appropiated |
-2,218 |
79.55 |
-2,788 |
94.86 |
-2,939 |
68.45 |
-4,294 |
-220 |
-1,342 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Activity code |
21100 |
|
Activity description |
Manufacturer of basic pharmaceutical products. |
Industry comparison
|
|
|
Activity code |
21100 |
|
Activity description |
Manufacturer of basic pharmaceutical products. |
|
Industry average payment expectation days |
55.53 |
|
Industry average day sales outstanding |
94.13 |
|
Payment
Expectations |
|
|
Company result |
-- |
|
Lower |
73.04 |
|
Median |
43.86 |
|
Upper |
20.21 |
|
Company result |
-- |
|
Lower |
119.97 |
|
Median |
65.52 |
|
Upper |
22.86 |
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
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
CURRENT DIRECTOR
DETAILS
|
Position |
Managing Director |
|
Start Date |
01/11/2007 |
|
Street |
9 PAALSESTEENWEG HASSELT |
|
Post code |
3500 |
|
Country |
The Netherlands |
|
|
|
|
Name |
Jeannine Vanheers |
|
Position |
Director |
|
Start Date |
27/07/2012 |
|
Street |
9 PAALSESTEENWEG HASSELT |
|
Post code |
3500 |
|
Country |
The Netherlands |
|
|
|
|
Position |
Permanent representative legal entity |
|
Start Date |
27/07/2012 |
|
Street |
9 PAALSESTEENWEG HASSELT |
|
Post code |
3500 |
|
Country |
The Netherlands |
|
|
|
|
Name |
AMAREX NV |
|
Position |
Director |
|
Start Date |
27/07/2012 |
CURRENT MANDATES
IN OTHER COMPANIES
|
Name |
AMAREX NV |
|
Business
number |
438001817 |
|
Position |
Director |
|
Start Date |
27/07/2012 |
|
Business
number |
438001817 |
|
Position |
Permanent representative legal entity |
|
Start Date |
27/07/2012 |
|
|
|
|
FORMER
DIRECTOR DETAILS |
|
|
Name |
Els Wassink |
|
Position |
Director |
|
Start Date |
01/11/2007 |
|
End Date |
27/07/2012 |
|
Street |
209 ZAVELVENNESTRAAT HASSELT |
|
Post code |
3500 |
|
Country |
Belgium |
|
|
|
|
Name |
Ann Wassink |
|
Position |
Director |
|
Start Date |
01/11/2007 |
|
End Date |
27/07/2012 |
|
Street |
544 KEMPISCHESTEENWEG HASSELT |
|
Post code |
3500 |
|
Country |
Belgium |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.34 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.