MIRA INFORM REPORT

 

 

Report No. :

351938

Report Date :

30.11.2015

 

IDENTIFICATION DETAILS

 

Name :

SALCO BVBA

 

 

Registered Office :

Delften 6 2390 Malle

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

27.05.1986

 

 

Com. Reg. No.:

428971810

 

 

Legal Form :

Private limited liability company

 

 

Line of Business :

Wholesale of construction materials, generalassortment.

 

 

No. of Employee :

24

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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                     428971810

Branche Unit Number               2036874690

Company name                        SALCO BVBA

Address                                   DELFTEN 6

2390 MALLE

Number of staff                        24

Date of establishment               27/05/1986

Telephone number                   033404700

Fax number                              033117957

 

 

Commentary

 

The business was established over 29 years ago.

The business has 24 employees.

The business is part of a group.

This business has a foreign parent business.

The business has been at the address for over 6 years.

Operating Result in the latest trading period increased 64% on the previous trading period.

Pre-tax profits increased by 127% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 48% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

16,464,409

479,830

1,860,656

1,772,098

31/12/2013

16,455,911

211,191

1,548,311

1,491,488

31/12/2012

17,463,663

394,257

1,274,136

1,179,931

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

3,755,807

24

20,000

492,756

31/12/2013

3,782,889

25

20,000

345,625

31/12/2012

4,307,393

27

20,000

404,382

 

 


Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

14.38

Industry  average  payment

83.97

Industry  average  day  sales

107.47

expectation  days

 

outstanding

 

Day  sales  outstanding

17.88

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                --

 

NSSO DETAILS

Date of summons                     –-

 

 

Company information

 

Business  number

428971810

Company  name

SALCO  BVBA

Fax  number

033117957

Date  founded

27/05/1986

Company  status

active

Company  type

Private  limited  liability

 

 

 

company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

46731

Liable  for  VAT

yes

Activity  description

Wholesale  of  construction

materials,  general assortment

VAT  Number

BE.0428.971.810  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)

 

JIC  Code

218

Description

Additional  national  joint  committee  for  the  employees

category

 

JIC  Code

14904

Description

Joint  subcommittee  for  the  trade  in  metals

category

 

 

 

SIGNIFICANT  EVENTS

 

Event  Date

04/06/2007

Event  Description

proposal  of  merger  filed

Event  Details

Commentaar 04-06-2007: Neerlegging fusievoorstel in de overname van de BVBA Rowico door de BVBA Salco

 

 

Company accounts

 

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

458,836

-17.62

556,963

-25.73

749,890

204

246,649

-32.24

364,027

Intangible  fixed  assets

370,277

-25.97

500,140

-20.61

630,004

1550

38,165

-16.07

45,471

Tangible  fixed  assets

88,559

55.85

56,822

-52.60

119,886

-42.50

208,484

-34.55

318,556

Land  &  building

13,228

-22.36

17,038

-20.0

21,297

-20.00

26,621

-12.31

30,356

Plant  &  machinery

1,998

-76.85

8,630

-51.68

17,861

-44.78

32,347

-26.91

44,254

Furniture  &  Vehicles

73,333

135

31,154

-51.18

63,816

-39.57

105,602

-38.16

170,757

Leasing  &  Other  Similar  Rights

0

-

0

-100

16,913

-61.49

43,913

-40.00

73,188

Other  tangible  assets

0

-

0

-

0

-100

1

-

0

Financial  fixed  assets

0

-

0

-

0

-

0

-

0

Total  current  assets

3,296,972

2.20

3,225,926

-9.32

3,557,503

0.12

3,553,387

0.67

3,529,608

Inventories

2,380,604

4.77

2,272,243

-2.59

2,332,690

0.83

2,313,512

-2.11

2,363,371

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

2,380,604

4.77

2,272,243

-2.59

2,332,690

0.83

2,313,512

-2.11

2,363,371

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

806,743

-5.67

855,278

-10.33

953,795

-16.60

1,143,585

13.78

1,005,122

Other  amounts  receivable

64,253

76.63

36,378

-79.43

176,848

514

28,772

-64.53

81,110

Cash

27,838

-48.16

53,699

-30.56

77,329

45.31

53,217

-18.23

65,085

Miscellaneous  current  assets

17,534

110

8,328

-50.55

16,841

17.76

14,301

-4.14

14,919

Total  Assets

3,755,807

-0.72

3,782,889

-12.18

4,307,393

13.35

3,800,036

-2.40

3,893,635

 

 

LIABILITIES

 

Total  shareholders  equity

2,230,933

8.91

2,048,451

7.58

1,904,140

-27.12

2,612,743

9.30

2,390,452

Issued  share  capital

20,000

0

20,000

0

20,000

0

20,000

0

20,000

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

2,210,933

9.00

2,028,451

7.66

1,884,140

-27.33

2,592,743

9.38

2,370,452

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-100

25,000

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

1,524,874

-12.08

1,734,438

-27.83

2,403,253

102

1,187,293

-19.68

1,478,183

Other  long  term  loans

0

-

0

-100

25,681

-51.89

53,375

-37.59

85,521

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-100

25,681

-51.89

53,375

-51.71

110,521

Current  portion  of  long  term  debt

0

-100

25,681

-7.27

27,695

-13.84

32,145

-7.02

34,573

Financial  debts

10,262

-97.76

457,408

-26.25

620,207

132

266,272

-55.60

599,712

Trade  creditors

622,954

101

309,076

-8.34

337,207

-5.94

358,516

-29.57

509,057

Amounts  Payable  for  Taxes,

308,141

-4.71

323,383

-14.63

378,820

-12.83

434,601

91.93

226,438

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

583,517

-5.72

618,890

-38.94

1,013,644

2291

42,384

85.22

22,883

Total  current  liabilities

1,524,874

-12.08

1,734,438

-27.05

2,377,573

109

1,133,918

-18.58

1,392,662

Total  Liabilities

3,755,807

-0.72

3,782,889

-12.18

4,307,393

13.35

3,800,036

-2.40

3,893,635

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

2.91

127

1.28

-43.36

2.26

-35.24

3.49

235

1.04

Return  on  capital  employed

21.51

108

10.31

-49.53

20.43

-14.27

23.83

250

6.80

Return  on  total  assets  employed

12.78

129

5.58

-39.02

9.15

-45.28

16.72

282

4.37

Return  on  net  assets  employed

21.51

108

10.31

-50.22

20.71

-14.81

24.31

241

7.11

Sales  /  net  working  capital

9.29

-15.78

11.03

-25.47

14.80

96.55

7.53

-1.95

7.68

Stock  turnover  ratio

14.46

4.71

13.81

3.37

13.36

5.28

12.69

-11.88

14.40

Creditor  days

14.38

104

7.03

-3.30

7.27

-3.07

7.50

-35.18

11.57

Debtor  days

17.88

-5.75

18.97

-4.82

19.93

-12.97

22.90

2.46

22.35

 

SHORT  TERM  STABILITY

 

Current  ratio

2.16

16.13

1.86

24.00

1.50

-52.08

3.13

23.72

2.53

Liquidity  ratio  /  acid  ratio

0.60

9.09

0.55

5.77

0.52

-52.29

1.09

29.76

0.84

Current  debt  ratio

0.68

-20.0

0.85

-32.00

1.25

190

0.43

-25.86

0.58

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

492,756

42.57

345,625

-14.53

404,382

-30.42

581,166

88.21

308,778

Net  worth

1,860,656

20.17

1,548,311

21.52

1,274,136

-50.51

2,574,578

9.79

2,344,981

 

LONG  TERM  STABILITY

 

Gearing

0.46

-98.05

23.58

-33.33

35.37

162

13.46

-55.30

30.11

Equity  in  percentage

65.90

5.61

62.40

20.51

51.78

-25.44

69.45

11.80

62.12

Total  debt  ratio

0.68

-20.0

0.85

-32.54

1.26

180

0.45

-28.57

0.63

Working  capital

1,772,098

18.81

1,491,488

26.40

1,179,931

-51.23

2,419,469

13.22

2,136,945

 

 

PROFIT & LOSS

 

Operating  Income

16,488,118

0.06

16,478,400

-5.75

17,483,647

-4.18

18,246,307

11.09

16,424,692

Turnover

16,464,409

0.05

16,455,911

-5.77

17,463,663

-4.18

18,224,746

11.05

16,411,859

Total  operating  expenses

15,808,210

-1.55

16,056,758

-5.10

16,919,737

-2.97

17,437,700

8.61

16,055,393

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

15,831,920

-1.54

16,079,247

-5.08

16,939,721

-2.98

17,459,262

8.66

16,068,226

Employee  costs

1,421,085

-11.35

1,603,028

-1.98

1,635,490

2.87

1,589,827

6.10

1,498,462

Wages  and  salary

1,052,700

-9.89

1,168,208

-0.55

1,174,704

0.56

1,168,104

7.49

1,086,726

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

350,676

-11.34

395,536

-4.94

416,086

6.58

390,395

2.70

380,145

Other  employee  costs

17,710

-54.92

39,283

-12.12

44,700

42.69

31,327

-0.84

31,591

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

160,273

-20.39

201,313

78.18

112,985

-28.88

158,875

-12.50

181,564

Operating  result

656,198

64.40

399,153

-26.62

543,925

-30.89

787,046

120

356,465

Total  financial  income

267,133

5.35

253,564

-8.86

278,214

-0.41

279,367

9.73

254,600

Total  financial  expenses

443,501

0.45

441,527

3.19

427,882

-0.76

431,148

-2.24

441,026

Results  on  ordinary  operations

479,830

127

211,191

-46.43

394,257

-37.94

635,265

273

170,040

Extraordinary  Income

28,718

239

8,466

-80.22

42,805

195

14,479

1.28

14,296

Extraordinary  Charges

10,547

-

-

-

11,048

268

3,000

-

-

Extraordinary  items

18,171

114

8,466

-73.34

31,757

176

11,479

-19.70

14,296

Results  for  the  Year  Before

498,002

126

219,657

-48.44

426,014

-34.13

646,744

250

184,335

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

165,519

119

75,346

-44.03

134,617

-40.02

224,453

292

57,122

Results  on  ordinary  operations

314,311

131

135,845

-47.68

259,640

-36.80

410,812

263

112,918

after  taxation

 

 

 

 

 

 

 

 

 

Net  result

332,482

130

144,311

-50.48

291,397

-31.00

422,291

231

127,214

Profit  (Loss)  for  the  Year  to  be appropiated

332,482

130

144,311

-50.48

291,397

-31.00

422,291

231

127,214

Dividends

150,000

-

-

-

1,000,000

400

200,000

-50.0

400,000

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

 

Total

During  the  reporting  year

 

ended  31-12-2014

 

Full-time  Employees

20

Part-time  Employees

6

Total  Fte  Employees

24

Number  of  hours  worked

 

Full-time  Employees

30,510

Part-time  Employees

5,787

Total

36,297

Personnel  Charges

 

Full-time  Employees

1,228,500

Part-time  Employees

192,585

Total

1,421,085

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

27

Actual  working  hours

42,824

Personnel  Charges

1,603,028

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

 

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

19

6

23

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

 

 

 

Gender  and  Education Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

6

1

7

Secondairy  education

6

1

7

Higher  education  (non university)

2

-

2

Higher  education (university)

1

-

1

 

Women

 

 

Full-Time

 

Part-Time

 

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

3

2

Higher  education  (non university)

2

1

3

Higher  education (university)

2

-

2

 

 

Working  Category

 

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

14

3

16

Blue  collar  worker

5

3

7

Other

-

-

-

 

 

Temporary  personnel

 

Total

Average  number  of  temporary  staff

2

Actual  working  hours

2,110

Cost  of  temporary  staff

70,552

 

 

New  staff  and  leavers

 

Full-Time

Part-Time

Total  Fte

New  Starters

1

1

2

Leavers

4

-

4

 

 

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                            46731

Activity description                  Wholesale of construction materials, general assortment

 

 

Payment Information

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

28

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

24

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

4

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

0

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

 

Amount

-

Details

-

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

14.38

Day  sales  outstanding

17.88

 

INDUSTRY  COMPARISON

 

Activity  code

46731

Activity  description

Wholesale  of  construction  materials,  general  assortment

Industry  average  payment expectation days

83.97

Industry average day sales

outstanding

107.47

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

 

Company result            14.38

Lower                           80.33

Median                         41.52

Upper                           18.36

 

 

DAY SALES OUTSTANDING

 

Company result            17.88

Lower                           84.16

Median                         57

Upper                           35.08

 

 

Shareholder Details

 

SUMMARY

 

Group - Number of Companies             10

Linkages - Number of Companies        0

Number of Countries                            0

 

 

GROUP STRUCTURE

 

Company  name

Number

Latest financials

 

 

 

- WILLY  VAN  DOORNE  INTERNATIONAL  NV

414464172

31-12-2014

- - AUTOMOBIELBEDRIJF  VAN  DOORNE  HERENTALS  N...

476310184

31-12-2014

- - GARAGE  MIOLI  SA

411976123

31-12-2014

- - SALCO  BVBA

428971810

31-12-2014

- - - ROWICO  BVBA

449953207

31-12-2006

- - TRUCK  TRADING  ASSOCIATION  NV

422124796

31-12-2014

- - - SERCOMAT  BVBA

425637285

31-12-2014

- - TRUCK  TRADING  LIMBURG  NV

452058404

31-12-2014

- - VAN  DOORNE  IMMOBILIEN  NV

450493338

31-12-2014

- - VANDOCO  NV

420527365

31-12-2011

 

 

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             10

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

Person  responsible  for  day-to-day  management

Start  Date

05/01/2015

Street

 

Post  code

 

Country

 

Name

Luc  Van  himbeeck

Name

VAN  DOORNE  IMMOBILIEN  NV

Position

Manager

Start  Date

01/10/2012

Street

 

Post  code

 

Country

 

Name

Vincentius  van  Doorne

Position

Manager

Start  Date

27/06/2002

Date  of  birth

03/07/1965

Street

11 DE  ZEVENSTER  SCHILDE

Post  code

2970

Country

Belgium

 

 

FORMER DIRECTOR DETAILS

 

Name

Jan  Caers

Position

Permanent  representative  legal  entity

Start  Date

01/07/2007

End  Date

01/10/2012

Street

 

Post  code

 

Country

 

Name

Wilhelmus  van  Doorne

Position

Manager

Start  Date

27/06/2002

End  Date

10/10/2014

Street

 

Post  code

 

Country

 

Name

VANDOCO  NV

Position

Manager

Start  Date

01/07/2007

End  Date

01/10/2012

Street

 

Post  code

 

Country

 

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

EUR

1

Rs.70.75

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

 

 

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.