MIRA INFORM REPORT

Report No. :	346153
Report Date :	20.10.2015

IDENTIFICATION DETAILS

Name :	CENTS & BEYOND BVBA

Registered Office :	Hoveniersstraat 2-Bus 342, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2014

Date of Incorporation :	14.09.2012

Com. Reg. No.:	848842842

Legal Form :	Private Limited Liability

LINE OF BUSINESS :	SUBJECT IS ENGAGED IN WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

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 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 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 name

CENTS & BEYOND BVBA

Company summary

Business number	848842842
Branche Unit Number	2212901283
Company name	CENTS & BEYOND BVBA
Address	HOVENIERSSTRAAT 2-BUS 342
	2018 ANTWERPEN
Number of staff	-
Date of establishment	14/09/2012
Telephone number	037072630
Fax number	037072629

Ultimate holding company
Company name	Company Number
-	-

Commentary

The business was established over 3 years ago. No employees are recorded for this business. The business has been at the address for over 3 years.

Operating Result in the latest trading period increased 163% on the previous trading period. Net Worth increased by 55% during the latest trading period.

A 158% growth in Total Assets occurred during the latest trading period. Pre-tax profits increased by 239% compared to the previous trading period. Working Capital is a negative amount during the latest trading period. Turnover in the latest trading period increased 295% on the previous trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2014	10,312,236	20,188	37,489	-50,193
31/12/2013	2,607,172	5,939	24,159	-54,703
Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2014	3,103,090	-	20,000	15,322
31/12/2013	1,199,483	-	20,000	7,051

Payment expectations

Past payments		Payment expectation days	42.18
Industry average payment	192.91	Industry average day sales	194.90
expectation days		outstanding
Day sales outstanding	103.19

Court data summary

BANKRUPTCY DETAILS

Court action type no

PROTESTED BILLS

Bill amount -

NSSO DETAILS

Date of summons -

Contractor details

Registered contractor	-
number
Contractor description	-
Date struck off register
Personnel (NSSO classification)
Code	-
Description	-
Joint Industrial Committee (JIC)
Significant Events
Event Date	01/07/2015
Event Description	re-appointment of director(s)
Event Details	Commentaar 01-07-2015: Herbenoemd als zaakvoerder: Wala Shailesh.

Company accounts

Assets
Annual accounts	31-12-2014	%	31-12-2013
Weeks	52		68
Currency	EUR		EUR
Total fixed assets	178,039	-1.11	180,032
Intangible fixed assets	0	-	0
Tangible fixed assets	178,039	-1.11	180,032
Land & building	177,507	-0.82	178,967
Plant & machinery	0	-	0
Furniture & Vehicles	532	-50.0	1,064
Leasing & Other Similar Rights	0	-	0
Other tangible assets	0	-	0
Financial fixed assets	0	-	0
Total current assets	2,925,050	186	1,019,451
Inventories	0	-	0
Raw materials & consumables	0	-	0
Work in progress	0	-	0
Finished goods	0	-	0
Other stocks	0	-	0
Trade debtors	2,915,313	189	1,007,306
Other amounts receivable	578	-78.47	2,684
Cash	9,083	-2.50	9,316
Miscellaneous current assets	76	-47.54	145
Total Assets	3,103,090	158	1,199,483

Liabilities

Total shareholders equity	37,489	55.18	24,159
Issued share capital	20,000	0	20,000
Share premium account	0	-	0
Revaluation reserve	0	-	0
Reserves	17,489	320	4,159
Provisions for Liabilities & Charges	0	-	0
Deffered taxes	0	-	0
Creditors	3,065,600	160	1,175,324
Other long term loans	90,357	-10.69	101,170
Long term group loans	-	-	-
Other long term liabilities	0	-	0
Total long term debts	90,357	-10.69	101,170
Current portion of long term debt	10,813	3.76	10,421
Financial debts	269	-	0
Trade creditors	1,187,833	18.45	1,002,835
Amounts Payable for Taxes, Remuneration & Social Security	6,900	287	1,780
Miscellaneous current liabilities	1,769,428	2893	59,118
Total current liabilities	2,975,244	176	1,074,154
Total Liabilities	3,103,090	158	1,199,483

ratio analysis
TRADING PERFORMANCE
Profit Before Tax	0.20	-13.04	0.23
Return on capital employed	15.79	233	4.74
Return on total assets employed	0.65	30.0	0.50
Return on net assets employed	53.85	119	24.58
Sales / net working capital	-205.45	-331	-47.66
Stock turnover ratio	-	-	-
Creditor days	42.18	-70.10	141.06
Debtor days	103.19	-26.83	141.02
SHORT TERM STABILITY
Current ratio	0.98	3.16	0.95
Liquidity ratio / acid ratio	0.98	3.16	0.95
Current debt ratio	79.36	78.50	44.46
Liquidity ratio reprocessed	-	-	-
Cashflow	15,322	117	7,051
Net worth	37,489	55.18	24,159
LONG TERM STABILITY
Gearing	270.58	-41.42	461.90
Equity in percentage	1.21	-39.80	2.01
Total debt ratio	81.77	68.08	48.65
Working capital	-50,193	91.76	-54,703

Profit & loss
Operating Income	-	-	-
Turnover	10,312,236	295	2,607,172
Total operating expenses	10,279,966	296	2,594,938
Gross Operating Margin	35,896	115	16,680
Operating Charges	-	-	-
Employee costs	-	-	-
Wages and salary	-	-	-
Employee pension costs	-	-	-
Social security contributions	-	-	-
Other employee costs	-	-	0
Director remuneration	-	-	-
Amortization and depreciation	1,992	-31.12	2,892
Operating result	32,270	163	12,234
Total financial income	-	-	2
Total financial expenses	12,082	91.89	6,296
Results on ordinary operations before taxation	20,188	239	5,939
Extraordinary Income	-	-	-
Extraordinary Charges	-	-	-
Extraordinary items	-	-	0
Results for the Year Before Taxation	20,188	239	5,939
Other appropriations	-	-	-
Taxation	6,858	285	1,780
Results on ordinary operations after taxation	13,330	220	4,159
Net result	13,330	220	4,159
Profit (Loss) for the Year to be appropiated	13,330	220	4,159
Dividends	-	-	-

Social Balance Sheet Details

Social Balance Sheet		Total
During the reporting year
ended 31-12-2014
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
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)	-	-	-

Temporary personnel		Total
Average number of temporary staff		-
Actual working hours		-
Cost of temporary staff		-
New staff and leavers	Full-Time	Part-Time	Total Fte
New Starters	-	-	-
Leavers	-	-	-

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

Payment Information

Suspension of payments / moratorium history
Amount	-
Details	-
Payment expectations
Payment expectation days	42.18
Day sales outstanding	103.19
Industry comparison
Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	192.91
Industry average day sales outstanding	194.90

INDUSTRY QUARTILE ANALYSIS PAYMENT EXPECTATIONS

Company result	42.18
Lower	134.78
Median	60.30
Upper	28.46

Day sales outstanding
Company result	103.19
Lower	131.59
Median	85.12
Upper	47.22

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

COMPANIES THAT MATCH THIS ADDRESS

no Companies Match this address

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

Position	Manager
Start Date	01/07/2015
Street
Post code
Country	India
Name	Shailesh Wala
Former director details
Name	Jayantikumar Sanspara
Position	Manager
Start Date	14/09/2012
End Date	01/07/2015
Street	45 QUINTEN MATSIJSLEI ANTWERPEN
Post code	2018
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.82
UK Pound	1	Rs.100.12
Euro	1	Rs.73.75

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	ASH

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.

MIRA INFORM REPORT

Company name

Company summary

Commentary

Accounts

Payment expectations

BANKRUPTCY DETAILS

Company information

Contractor details

Company accounts

Social Balance Sheet Details

Payment Information

Shareholder Details

Linked Companies

Director details

Unit