MIRA INFORM REPORT

Report No. :	346240
Report Date :	26.10.2015

IDENTIFICATION DETAILS

Name :	EURO OVERSEAS EN TRADING BVBA

Registered Office :	Langegang 12-Bus 1, 2000 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2014

Date of Incorporation :	12.07.1999

Com. Reg. No.:	466481611

Legal Form :	Private Limited Liability

Line of Business :	Subject is engaged in wholesale of waste and scrap

No. of Employee :	2

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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 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 name

EURO OVERSEAS EN TRADING BVBA

Company summary

Business number	466481611
Branche Unit Number	2092863387
Company name	EURO OVERSEAS EN TRADING BVBA
Address	LANGEGANG 12-BUS 1
	2000 ANTWERPEN
Number of staff	2
Date of establishment	12/07/1999
Telephone number	032030562
Fax number	-

Ultimate holding company
Company name	Company Number
-	-

Commentary

The business was established over 16 years ago. The business has 2 employees.

The business has been at the address for over 7 years. The credit rating for this business has increased from 80 to 82. The credit limit for this business has increased from €160000 to €165000. Operating Result in the latest trading period decreased 84% on the previous trading period. Pre-tax profits decreased by 90% compared to the previous trading period. The business saw a decrease in their Cash Balance of 26% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2014	0	28,270	208,114	185,366
31/12/2013		291,271	181,505	191,649
31/12/2012		29,817	150,490	158,645
Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2014	2,327,000	2	18,592	57,297
31/12/2013	2,480,337	2	18,592	52,385
31/12/2012	2,862,273	2	18,592	19,026

Payment expectations

Past payments		Payment expectation days	-
Industry average payment	52.22	Industry average day sales	85.66
expectation days		outstanding
Day sales outstanding	-

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)
JIC Code	100
Description	Additional joint committee for labourers
category
JIC Code	200
Description	Additional joint committee for the employees
category
JIC Code	218
Description	Additional national joint committee for the employees
category
Significant Events
Event Date	12/07/1999
Event Description	Legal creation
Event Details

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	250,942	22.79	204,373	0.05	204,266	-8.61	223,510	10.94	201,472
Intangible fixed assets	0	-	0	-	0	-	0	-	0
Tangible fixed assets	164,596	39.46	118,027	0.09	117,920	-12.72	135,103	19.49	113,065
Land & building	76,175	-7.31	82,187	-6.82	88,198	-6.38	94,209	-6.00	100,221
Plant & machinery	6,331	1900	317	-50.0	633	-34.60	968	-50.00	1,936
Furniture & Vehicles	82,090	131	35,524	22.12	29,089	-19.88	36,308	888	3,673
Leasing & Other Similar Rights	0	-	0	-	0	-100	3,618	-50.00	7,235
Other tangible assets	0	-	0	-	0	-	0	-	0
Financial fixed assets	86,346	0	86,346	0	86,346	-2.33	88,406	0	88,406
Total current assets	2,076,058	-8.78	2,275,963	-14.37	2,658,006	40.61	1,890,397	-29.49	2,680,916
Inventories	20,520	-66.20	60,713	68.23	36,089	44.07	25,050	-8.58	27,400
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	20,520	-66.20	60,713	68.23	36,089	44.07	25,050	-8.58	27,400
Trade debtors	1,813,081	-7.57	1,961,489	-12.37	2,238,387	63.53	1,368,754	-33.49	2,058,046
Other amounts receivable	6,343	3.27	6,142	-32.14	9,052	-36.50	14,254	369	3,037
Cash	178,235	-26.49	242,457	-35.25	374,479	-22.20	481,358	-17.53	583,649
Miscellaneous current assets	57,879	1021	5,162	-	0	-100	982	-88.82	8,783
Total Assets	2,327,000	-6.18	2,480,337	-13.34	2,862,273	35.40	2,113,907	-26.66	2,882,387

Liabilities
Total shareholders equity	208,114	14.66	181,505	20.61	150,490	0.17	150,239	4.02	144,431
Issued share capital	18,592	0	18,592	0	18,592	0	18,592	0	18,592
Share premium account	0	-	0	-	0	-	0	-	0
Revaluation reserve	0	-	0	-	0	-	0	-	0
Reserves	189,522	16.33	162,913	23.51	131,898	0.19	131,647	4.61	125,839
Provisions for Liabilities & Charges	0	-	0	-100	40,388	0	40,388	-	0
Deffered taxes	0	-	0	-	0	-	0	-	0
Creditors	2,118,886	-7.83	2,298,832	-13.95	2,671,395	38.90	1,923,280	-29.75	2,737,956
Other long term loans	228,195	6.38	214,518	24.70	172,033	-12.91	197,544	1.23	195,138
Long term group loans	-	-	-	-	-	-	-	-	-
Other long term liabilities	0	-	0	-	0	-	0	-	0
Total long term debts	228,195	6.38	214,518	0.99	212,421	-10.72	237,932	21.93	195,138
Current portion of long term debt	420,792	27.95	328,884	1189	25,511	-8.92	28,009	82.04	15,386
Financial debts	0	-	0	-	0	-	0	-	0
Trade creditors	1,323,050	-14.45	1,546,454	-27.51	2,133,233	44.77	1,473,566	-32.84	2,194,240
Amounts Payable for Taxes,	32,609	-22.21	41,917	61.28	25,990	13.99	22,801	21.78	18,723
Remuneration & Social Security
Miscellaneous current liabilities	114,241	-31.62	167,060	-46.90	314,627	56.25	201,360	-35.97	314,469
Total current liabilities	1,890,692	-9.29	2,084,314	-16.61	2,499,362	44.83	1,725,736	-32.13	2,542,818
Total Liabilities	2,327,000	-6.18	2,480,337	-13.34	2,862,273	35.40	2,113,907	-26.66	2,882,387

ratio analysis
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	-	-	-	-
Return on capital employed	6.48	-91.19	73.55	794	8.22	202	2.72	130	-2.08
Return on total assets employed	1.21	-89.69	11.74	1028	1.04	108	0.50	208	-0.24
Return on net assets employed	13.58	-91.54	160.48	710	19.81	182	7.02	143	-4.89
Sales / net working capital	-	-	-	-	-	-	-	-	-
Stock turnover ratio	-	-	-	-	-	-	-	-	-
Creditor days	-	-	-	-	-	-	-	-	-
Debtor days	-	-	-	-	-	-	-	-	-
SHORT TERM STABILITY
Current ratio	1.10	0.92	1.09	2.83	1.06	-3.64	1.10	4.76	1.05
Liquidity ratio / acid ratio	1.09	2.83	1.06	0.95	1.05	-2.78	1.08	3.85	1.04
Current debt ratio	9.08	-20.91	11.48	-30.89	16.61	44.56	11.49	-34.75	17.61
Liquidity ratio reprocessed	-	-		-	-	-	-	-	-
Cashflow	57,297	9.38	52,385	175	19,026	-26.96	26,048	27.16	20,485
Net worth	208,114	14.66	181,505	20.61	150,490	0.17	150,239	4.02	144,431
LONG TERM STABILITY
Gearing	311.84	4.16	299.39	128	131.27	-12.56	150.13	3.00	145.76
Equity in percentage	8.94	22.13	7.32	39.16	5.26	-26.02	7.11	41.92	5.01
Total debt ratio	10.18	-19.65	12.67	-29.69	18.02	37.87	13.07	-31.07	18.96
Working capital	185,366	-3.28	191,649	20.80	158,645	-3.65	164,661	19.24	138,098

Profit & loss
Operating Income	-	-	-	-	-	-	-	-	-
Turnover	0	-	-	-	-	-	-	-	-
Total operating expenses	-11,485	-	-	-	-	-	-	-	-
Gross Operating Margin	251,504	17.19	214,615	-20.94	271,452	-37.61	435,074	11.19	391,286
Operating Charges	-	-	-	-	-	-	-	-	-
Employee costs	117,802	-7.04	126,718	19.98	105,619	9.62	96,351	-9.63	106,614
Wages and salary	98,176	-1.40	99,566	17.92	84,433	3.91	81,255	-4.38	84,973
Employee pension costs	-	-	-	-	-	-	-	-	-
Social security contributions	23,908	2.97	23,219	22.72	18,920	12.21	16,860	-16.73	20,247
Other employee costs	-4,281	-208	3,933	73.57	2,266	128	-1,764	-226	1,394
Director remuneration	-	-	-	-	-	-	-	-	-
Amortization and depreciation	30,689	43.61	21,369	13.82	18,775	-7.24	20,241	1.43	19,956
Operating result	11,485	-84.55	74,332	-46.08	137,858	32.38	104,136	-51.50	214,700
Total financial income	295,847	-33.71	446,287	79.05	249,254	-73.46	939,173	93.21	486,080
Total financial expenses	279,063	21.68	229,348	-35.81	357,295	-65.40	1,032,765	45.90	707,838
Results on ordinary operations before taxation	28,270	-90.29	291,271	876	29,817	182	10,544	149	-7,058
Extraordinary Income	15,650	-	-	-	-	-	36,546	93.81	18,856
Extraordinary Charges	6,411	-97.30	237,496	1398	15,848	-46.51	29,625	-	-
Extraordinary items	9,239	3.89	-237,496	-1398	-15,848	-328	6,921	-63.30	18,856
Results for the Year Before Taxation	37,509	-30.25	53,776	284	13,969	-20.02	17,465	48.03	11,798
Other appropriations	-	-	-	-	-	-	-	-	-
Taxation	10,900	-52.11	22,760	65.91	13,718	17.67	11,658	3.45	11,269
Results on ordinary operations after taxation	17,370	-93.53	268,511	1567	16,099	1445	-1,114	6.08	-18,327
Net result	26,609	-14.21	31,015	12248	251	-95.67	5,807	997	529
Profit (Loss) for the Year to be appropiated	26,609	-14.21	31,015	12248	251	-95.67	5,807	997	529
Dividends	0	-	-	-	-	-	-	-	80,000

Social Balance Sheet Details

Social Balance Sheet Details
Social Balance Sheet		Total
During the reporting year
ended 31-12-2014
Full-time Employees		2
Part-time Employees		-
Total Fte Employees		2
Number of hours worked
Full-time Employees		1,786
Part-time Employees		-
Total		1,786
Personnel Charges
Full-time Employees		117,802
Part-time Employees		-
Total		117,802
Benefits In Addition To Wages		-
During the previous reporting year
Average number employees in Fte		3
Actual working hours		4,791
Personnel Charges		126,718
Benefits In Addition To Wages		-
Type of Contract	Full-Time	Part-Time	Total Fte
Unlimited Duration	2	-	2
Contracts
Limited Duration Contracts	-	-	-
Contracts For Specific Work	-	-	-
Contracts Regarding Substitution	-	-	-
Gender and Education Level
Men	Full-Time	Part-Time	Total Fte
Primary education	1	-	1
Secondairy education	-	-	-
Higher education (non	-	-	-
university)
Higher education	-	-	-
(university)
Women	Full-Time	Part-Time	Total Fte
Primary education	1	-	1
Secondairy education	-	-	-
Higher education (non	-	-	-
university)
Higher education	-	-	-
(university)
Working Category	Full-Time	Part-Time	Total Fte
Management	-	-	-
White collar worker	2	-	2
Blue collar worker	-	-	-
Other	-	-	-
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	46779
Activity description	Wholesale of waste and scrap

Payment Information

Payment Information Summary

Total number of Invoices available	41
Total number of Invoices paid within or up to 30 days after the due date	34
Total number of Invoices paid more than 30 days after the due date	7
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	-
Day sales outstanding	-
Industry comparison
Activity code	46779
Activity description	Wholesale of waste and scrap, n.e.c.
Industry average payment	52.22
expectation days
Industry average day sales	85.66
outstanding

Industry quartile analysis
Payment expectations
Company result	-
Lower	51.78
Median	32.27
Upper	18.46

Day sales outstanding

Company result	-
Lower	59.02
Median	36.59
Upper	17.66

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	06/01/2006
Street
Post code
Country
Name	Harikrishna Patel
Former director details
Name	Paul Schmitte
Position	Manager
Start Date	02/05/2005
End Date	06/01/2006
Street
Post code Country

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.88
UK Pound	1	Rs.99.89
Euro	1	Rs.72.06

INFORMATION DETAILS

Analysis Done by :	DIV

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

Court data summary

Company information

Contractor details

Company accounts

Social Balance Sheet Details

Payment Information

Shareholder Details

Linked Companies

Director details

Unit