MIRA INFORM REPORT

 

 

Report No. :

347302

Report Date :

28.10.2015

 

IDENTIFICATION DETAILS

 

Name :

D. M. DIAMONDS BVBA

 

 

Registered Office :

Beukenlaan  26, 2020 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

21.10.2004

 

 

Com. Reg. No.:

869807413

 

 

Legal Form :

Private Limited Liability Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

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 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

869807413

Branche  Unit  Number

2143123542

Company  Name

D.M.  DIAMONDS  BVBA

Address

Beukenlaan  26 2020 Antwerpen

Number  Of  Staff

-

Date  Of  Establishment

21/10/2004

Telephone  Number

032251955

Fax  Number

038289034

 

 

Commentary

 

The business was established over 11 years ago.

No employees are recorded for this business.

The business has been at the address for over 2 months.

The business has been at the address for less than 6 months.

The business has changed address 1 times in the last year.

Operating Result in the latest trading period increased 87% on the previous trading period.

A 36% growth in Total Assets occurred during the latest trading period.

The business saw a decrease in their Cash Balance of 74% during the latest trading period.

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

 

27,178

240,788

239,387

31/12/2013

 

27,651

221,029

219,241

31/12/2012

 

5,944

202,444

200,902

 

 

 

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

837,913

-

18,600

20,146

31/12/2013

612,485

-

18,600

19,067

31/12/2012

1,009,840

-

18,600

986

 

 

Payment expectations

 

Past payments

 

Payment expectation days

--

 

Industry average payment expectation days

192.87

Industry average day sales outstanding

194.87

 

Day sales outstanding

--

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

 

Court action type

no

 

 

 

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

--

 

 

 

 

 

Company information

 

Business  Number

869807413

Company  Name

D.M.  DIAMONDS  BVBA

Fax  Number

038289034

Date  Founded

21/10/2004

Company  Status

active

Company  Type

Private  limited  liability company

Currency

Euro  (€)

Date  Of  Latest  Accounts

31/12/2014

Activity  Code

46761

Liable  For  VAT

Yes

Activity  Description

Wholesale  of  diamonds  and other  precious  stones

Vat  Number

BE.0869.807.413  Check  VAT Number

Belgian  Bullettin  Of  Acts

moniteur  belge

 

 

 

 

Joint  Industrial Committee  (JIC)

 

Significant  Events

 

Event  Date

07/03/2013

Event  Description

 

Event  Details

Het  mandaat  van  Parikh  Rajen  zal  onbezoldigd  zijn,  vanaf  01/04/2013.

Event  Date

21/10/2004

Event  Description

Legal  creation

 

 

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

1,402

-21.61

1,788

15.88

1,543

-14.42

1,803

-72.80

6,628

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

262

-59.64

648

60.79

403

-39.22

663

-87.92

5,488

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

262

-48.09

504

-

0

-

0

-100

149

Furniture  &  Vehicles

0

-99

144

-64.23

403

-39.22

663

-87.58

5,339

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

1,140

0

1,140

0

1,140

0

1,140

0

1,140

Total  current  assets

836,512

36.98

610,697

-39.43

1,008,297

-6.37

1,076,912

8.54

992,206

 

Inventories

347,996

136

146,917

-55.17

327,687

44.04

227,499

-18.16

277,969

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

347,996

136

146,917

-55.17

327,687

44.04

227,499

-18.16

277,969

Trade  debtors

208,668

19.87

174,083

-58.28

417,238

-24.62

553,501

22.42

452,146

Other  amounts  receivable

268,059

11.05

241,387

12.08

215,367

21.74

176,914

28.07

138,135

Cash

11,789

-74.46

46,153

0.38

45,980

-58.84

111,706

-8.45

122,012

Miscellaneous  current  assets

0

-100

2,157

6.51

2,025

-72.23

7,291

275

1,944

Total  Assets

837,913

36.81

612,485

-39.35

1,009,840

-6.38

1,078,715

8.00

998,834

LIABILITIES

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

240,788

8.94

221,029

9.18

202,444

0.36

201,718

1.65

198,440

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

222,188

9.76

202,429

10.11

183,844

0.40

183,118

1.82

179,840

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

597,125

52.54

391,456

-51.52

807,395

-7.94

876,997

9.57

800,394

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Long  term  group  loans

-

-

-

-

-

-

 

-

-

Other  long  term  liabilities

0

-

0

-100

1

-

0

-

0

Total  long  term  debts

0

-

0

-100

1

-

0

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

252

-

0

-100

1,726

2084

79

-

0

Trade  creditors

570,402

56.49

364,494

-52.99

775,405

-8.72

849,490

10.19

770,910

Amounts  Payable  for  Taxes,  Remuneration  & Social  Security

13,123

72.48

7,609

45.26

5,238

449

954

-36.33

1,498

Miscellaneous  current  liabilities

13,349

-31.03

19,353

-22.67

25,026

-5.47

26,474

-5.40

27,986

Total  current  liabilities

597,125

52.54

391,456

-51.52

807,395

-7.94

876,997

9.57

800,394

Total  Liabilities

837,913

36.81

612,485

-39.35

1,009,840

-6.38

1,078,715

8.00

998,834

 

RATIO  ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

11.29

-9.75

12.51

325

2.94

19.03

2.47

34.24

1.84

Return  on  total  assets  employed

3.24

-28.16

4.51

664

0.59

28.26

0.46

24.32

0.37

Return  on  net  assets  employed

11.29

-9.75

12.51

325

2.94

19.03

2.47

34.24

1.84

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.40

-10.26

1.56

24.80

1.25

1.63

1.23

-0.81

1.24

Liquidity  ratio  /  acid  ratio

0.82

-30.51

1.18

40.48

0.84

-13.40

0.97

8.99

0.89

Current  debt  ratio

2.48

40.11

1.77

-55.64

3.99

-8.28

4.35

7.94

4.03

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

20,146

5.66

19,067

1833

986

-87.83

8,103

-28.11

11,272

Net  worth

240,788

8.94

221,029

9.18

202,444

0.36

201,718

1.65

198,440

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

0.10

-

-

-

0.85

2025

0.04

-

-

Equity  in  percentage

28.74

-20.37

36.09

80.0

20.05

7.22

18.70

-5.89

19.87

Total  debt  ratio

2.48

40.11

1.77

-55.64

3.99

-8.28

4.35

7.94

4.03

Working  capital

239,387

9.19

219,241

9.13

200,902

0.49

199,915

4.22

191,812

 

 

 

 

 

 

 

 

 

 

Profit & Loss

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

65,354

78.13

36,688

-10.46

40,976

126

18,101

-19.49

22,484

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

386

-19.86

482

86.19

259

-94.63

4,825

-48.78

9,420

Operating  result

63,680

87.73

33,922

173

12,389

2.80

12,051

1.77

11,842

Total  financial  income

98,058

2155029

5

-94.38

81

-71.07

280

50.98

185

Total  financial  expenses

134,560

2044

6,275

-3.84

6,526

-11.11

7,342

-12.25

8,367

Results  on  ordinary  operations  before  taxation

27,178

-1.71

27,651

365

5,944

19.17

4,988

36.28

3,660

Extraordinary  Income

-

-

322,700

-

-

-

-

-

-

Extraordinary  Charges

-

-

322,700

-

-

-

-

-

-

Extraordinary  items

-

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

27,178

-1.71

27,651

365

5,944

19.17

4,988

36.28

3,660

 

Other  appropriations

-

-

-

-

-

-

-

-

-

 

Taxation

7,419

-18.17

9,066

73.78

5,217

205

1,710

-5.42

1,808

 

Results  on  ordinary  operations  after  taxation

19,759

6.32

18,585

2456

727

-77.82

3,278

77.00

1,852

 

Net  result

19,759

6.32

18,585

2456

727

-77.82

3,278

77.00

1,852

 

Profit  (Loss)  for  the  Year  to  be  appropriated

19,759

6.32

18,585

2456

727

-77.82

3,278

77.00

1,852

 

Dividends

-

-

-

-

-

-

-

-

-

 

 

 

Industry comparison

 

Activity code

46761

Activity description

Whole of diamonds and other precious stones

 

Payment expectations

 

Industry comparison

 

Activity code

46761

Activity description

Whole of diamonds and other precious stones

Industry average payment expectation days

192.87

Industry average day sales outstanding

194.87

 

Industry quartile analysis

 

Payment expectations

 

Company result

--

Lower

134.78

Median

60.30

Upper

28.46

 

 

Day sales outstanding

 

Company result

--

Lower

131.59

Median

85.12

Upper

47.22

 

Shareholder details

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interest found

 

Protested Bills

There is no data for this company

 

Bankruptcy and other legal events

There is no data for this company

 

Companies that match this address

No companies match this address

 

Summons

There is no data for this company

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

 

Position

Manager

Start  Date

21/10/2004

Street

26 BEUKENLAAN  ANTWERPEN

Post  code

2020

Country

Belgium

 

 

Name

Rajen  Parikh

 

FORMER DIRECTOR DETAILS

 

Name

Darshan Parikh

Position

Manager

Start  Date

21/10/2004

End  Date

01/07/2011

Street

26 BEUKENLAAN  ANTWERPEN

Post  code

2020

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.95

UK Pound

1

Rs.99.73

Euro

1

Rs.71.84

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

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.