MIRA INFORM REPORT

 

 

Report No. :

352553

Report Date :

30.11.2015

 

IDENTIFICATION DETAILS

 

Name :

AURO  DIAMONDS  BVBA

 

 

Registered Office :

Hoveniersstraat  30-Bus  256 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

26.04.1982

 

 

Com. Reg. No.:

422728176

 

 

Legal Form :

Private  limited  liability

Company

 

 

Line of Business :

Wholesale  of  diamonds  and other  precious  stones

 

 

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 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 budget deficit was 3.2% of GDP. 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 a 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

422728176

Branche  Unit  Number

2020476445

Company  name

AURO  DIAMONDS  BVBA

Address

HOVENIERSSTRAAT  30-BUS  256

 

2018 ANTWERPEN

Number  of  staff

-

Date  of  establishment

26/04/1982

Telephone  number

032325221

Fax  number

032316700

 

 

Commentary

 

The  business  was  established  over  33  years  ago. No  employees  are  recorded  for  this  business. The  business  has  been  at  the  address  for  over  18  years. The  credit  rating  for  this  business  has  increased  from  85  to  98. The  credit  limit  for  this  business  has  increased  from  €250000  to  €895000. Operating  Result  in  the  latest  trading  period  increased  20598%  on  the  previous  trading  period. Net  Worth  increased  by  47%  during  the  latest  trading  period.

 

A  410%  growth  in  Total  Assets  occurred  during  the  latest  trading  period. Pre-tax  profits  increased  by  83%  compared  to  the  previous  trading  period. The  business  saw  a  decrease  in  their  Cash  Balance  of  54%  during  the  latest  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/03/2015

30,972,730

129,773

268,871

268,450

31/03/2014

 

70,901

182,559

182,138

31/03/2013

39,224,493

122,490

134,874

134,452

 

 

Accounts

                                                                                                                                          

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/03/2015

49,817,026

-

49,579

86,312

31/03/2014

9,759,405

-

49,579

47,686

31/03/2013

19,224,617

-

49,579

89,090

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

725.86

Industry  average  payment

192.73

Industry  average  day  sales

194.48

expectation  days

 

outstanding

 

Day  sales  outstanding

109.72

 

 

 

 

Court  data  summary

BANKRUPTCY  DETAILS

 

Court  action  type

no

 

PROTESTED  BILLS

 

Bill  amount

-

 

NSSO DETAILS

 

Date  of  summons

-

 

 

Company information

 

Business  number

422728176

Company  name

AURO  DIAMONDS  BVBA

Fax  number

032316700

Date  founded

26/04/1982

Company  status

active

Company  type

Private  limited  liability

company

 

 

Currency

Euro  (€)

Date  of  latest  accounts

31/03/2015

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0422.728.176  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)

Significant Events

Event  Date

27/05/2015

Event  Description

Event  Details

Afschaffing  van  de  nominale  waarde  van  de  aandelen.

 

 

Company accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-03-2015

%

31-03-2014

%

31-03-2013

%

31-03-2012

%

31-03-2011

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

421

0

421

0

421

0

421

0

421

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

0

-

0

-

0

-

0

-

0

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

0

-

0

-

0

-

0

-

0

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

421

0

421

0

421

0

421

0

421

Total  current  assets

49,816,604

410

9,758,984

-49.24

19,224,195

3683

508,050

17.52

432,304

Inventories

40,496,053

499

6,759,531

2957

221,095

-55.57

497,658

17.92

422,042

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

40,496,053

-

0

-

0

-

0

-

0

 

Other  stocks

0

-100

6,759,531

2957

221,095

-55.57

497,658

17.92

422,042

 

Trade  debtors

9,310,150

214

2,962,960

-81.28

15,827,615

-

0

-

0

 

Other  amounts  receivable

1,030

-93.43

15,673

6.86

14,667

101

7,292

5.31

6,924

 

Cash

8,174

-54.98

18,158

-99

3,160,819

101891

3,099

-7.16

3,338

 

Miscellaneous  current  assets

1,196

-55.05

2,662

-

0

-

0

-

0

 

Total  Assets

49,817,026

410

9,759,405

-49.23

19,224,617

3680

508,471

17.50

432,726

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

 

268,871

47.28

182,559

35.36

134,874

194

45,784

38.36

33,092

Issued  share  capital

 

49,579

0

49,579

0

49,579

0

49,579

0

49,579

Share  premium  account

 

0

-

0

-

0

-

0

-

0

Revaluation  reserve

 

0

-

0

-

0

-

0

-

0

Reserves

 

219,293

64.91

132,981

55.91

85,295

2247

-3,795

23.02

-16,487

Provisions  for  Liabilities  &  Charges

 

0

-

0

-

0

-

0

-

0

Deffered  taxes

 

0

-

0

-

0

-

0

-

0

Creditors

 

49,548,154

417

9,576,846

-49.83

19,089,743

4025

462,687

15.78

399,634

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

 

168,671

0

168,671

0

168,671

-0.07

168,783

42.99

118,042

Trade  creditors

 

49,312,877

427

9,347,712

-50.41

18,850,482

7243

256,714

5.04

244,402

Amounts  Payable  for  Taxes,  Remuneration

 

43,500

87.50

23,200

-30.54

33,400

-

0

-

0

&  Social  Security

 

 

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

23,107

-37.99

37,263

0.20

37,190

0

37,190

0

37,190

Total  current  liabilities

49,548,154

417

9,576,846

-49.83

19,089,743

4025

462,687

15.78

399,634

Total  Liabilities

49,817,026

410

9,759,405

-49.23

19,224,617

3680

508,471

17.50

432,726

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.42

-

-

-

0.31

-

-

-

-

Return  on  capital  employed

48.27

24.28

38.84

-57.23

90.82

227

27.72

29.28

-94.67

Return  on  total  assets  employed

0.26

-64.38

0.73

14.06

0.64

-74.40

2.50

34.53

-7.24

Return  on  net  assets  employed

48.27

24.28

38.84

-57.23

90.82

227

27.72

29.28

-94.67

Sales  /  net  working  capital

115.38

-

-

-

291.73

-

-

-

-

Stock  turnover  ratio

130.75

-

-

-

0.56

-

-

-

-

 

Creditor  days

725.86

-

-

-

175.98

-

-

-

-

Debtor  days

109.72

-

-

-

147.28

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.01

-0.98

1.02

0.99

1.01

-8.18

1.10

1.85

1.08

Liquidity  ratio  /  acid  ratio

0.19

-38.71

0.31

-69.00

1.00

4900

0.02

-33.33

0.03

Current  debt  ratio

184.28

251

52.46

-62.94

141.54

1300

10.11

-16.31

12.08

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

86,312

81.00

47,686

-46.47

89,090

601

12,693

40.46

-31,372

Net  worth

268,871

47.28

182,559

35.36

134,874

194

45,784

38.36

33,092

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

62.73

-32.10

92.39

-26.12

125.06

-66.08

368.65

3.35

356.71

Equity  in  percentage

0.54

-71.12

1.87

167

0.70

-92.22

9.00

17.65

7.65

Total  debt  ratio

184.28

251

52.46

-62.94

141.54

1300

10.11

-16.31

12.08

Working  capital

268,450

47.39

182,138

35.47

134,452

196

45,363

38.85

32,670

 

Profit  &  loss                                                                                                                                       

Operating  Income

 

30,972,730

-

-

-

-

-

-

-

-

Turnover

 

30,972,730

-

-

-

39,224,493

-

-

-

-

Total  operating  expenses

 

24,797,090

-

-

-

39,098,343

-

-

-

-

Gross  Operating  Margin

 

-

-

30,126

-76.22

126,697

801

14,061

53.23

-26,415

Operating  Charges

 

24,797,090

-

-

-

-

-

-

-

-

Employee  costs

 

-

-

-

-

-

-

60

-

-

Wages  and  salary

 

-

-

-

-

-

-

-

-

-

Employee  pension  costs

 

-

-

-

-

-

-

-

-

-

Social  security  contributions

 

-

-

-

-

-

-

-

-

-

Other  employee  costs

 

-

-

0

-

0

-100

60

-

0

Director  remuneration

 

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

 

-

-

-

-

-

-

-

-

-

Operating  result

 

6,175,640

20598

29,836

-76.35

126,150

857

13,180

43.73

-30,142

Total  financial  income

 

1,510,442

93.28

781,468

-

-

-

3

-

-

Total  financial  expenses

 

7,556,309

920

740,403

20128

3,660

646

490

-58.71

1,187

Results  on  ordinary  operations  before  taxation

 

129,773

83.03

70,901

-42.12

122,490

865

12,693

40.51

-31,329

Extraordinary  Income

 

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

 

-

-

-

-

-

-

-

-

-

Extraordinary  items

 

-

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

 

129,773

83.03

70,901

-42.12

122,490

865

12,693

40.51

-31,329

Other  appropriations

 

-

-

-

-

-

-

-

-

-

                   

 

43,461

87.21

23,216

-30.49

33,400

-

-

-

43

Results  on  ordinary  operations  after  taxation

 

86,312

81.00

47,686

-46.47

89,090

601

12,693

40.46

-31,372

Net  result

 

86,312

81.00

47,686

-46.47

89,090

601

12,693

40.46

-31,372

Profit  (Loss)  for  the  Year  to  be  appropiated

 

86,312

81.00

47,686

-46.47

89,090

601

12,693

40.46

-31,372

Dividends

 

-

-

-

-

-

-

-

-

-

 

 

 

 

Industry comparison        

 

Activity  code

46761

 

Activity  description

 

Wholesale  of  diamonds  and  other  precious  stones

 

 

 

Payment Information

 

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

Payment  expectations

 

Payment  expectation  days

725.86

Day  sales  outstanding

109.72

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

192.73

expectation  days

 

Industry  average  day  sales

194.48

Outstanding Industry  quartile  analysis

 

 

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

 

 

Individual Shareholders

 

SHAREHOLDER NAME

Forename

Henri

Middle  name

-

Surname

Pomeranz

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

29/10/2013(estimated)

End  date

-

Percentage  owned

100%

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Albertstraat

House  number

26

Minor  town

-

Postal  town

Antwerpen

Post  code

2018

Country

Belgium

 

 

Companies that match this address

 

No  Companies  Match  this  address

 

 

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

 

Position

Manager

Start  Date

28/10/2013

Street

26 ALBERTSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Henri  Pomeranz

 

Former  director  details

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

Euro

1

Rs.70.51

Note : Above are approximate rates obtained from sources believed to be correct

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SDA

 

 

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.