MIRA INFORM REPORT

 

 

Report No. :

339324

Report Date :

07.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SUNVIEW NV

 

 

Registered Office :

Hoveniersstraat 2-Bus 579 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

31.01.2007

 

 

Com. Reg. No.:

887137155

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

Line of Business :

Agents involved in the sale of furniture, household goods, hardware and ironmongery.

 

 

No. of Employee :

1

 

 

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 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 summary

 

Business number                     887137155

Company name                        SUNVIEW NV

Address                                   HOVENIERSSTRAAT 2-BUS 579

2018 ANTWERPEN

Number of staff                        1

Date of establishment               31/01/2007

Telephone number

Fax number

 

 

Commentary

 

The business was established over 8 years ago.

The business has 1 employees.

The business has been at the address for over 8 years.

The credit rating for this business has increased from 83 to 84.

The credit limit for this business has increased from €215000 to €295000.

A 80% growth in Total Assets occurred during the latest trading period.

The business saw an increase in their Cash Balance of 755% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

15,851,258

25,213

102,094

280,295

31/12/2012

13,931,492

27,101

85,809

81,401

31/12/2011

 

18,512

66,066

62,560

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

7,375,871

1

62,000

18,012

31/12/2012

4,089,378

0

62,000

21,043

31/12/2011

3,399,389

0

62,000

13,643

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

141

Industry  average  payment

79.08

Industry  average  day  sales

90.89

expectation  days

 

outstanding

 

Day  sales  outstanding

74.61

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                      No

 

PROTESTED BILLS

Bill amount                              --

 

NSSO DETAILS

Date of summons                     --

 

 

Company information

 

Business  number

887137155

Company  name

SUNVIEW  NV

Fax  number

-

Date  founded

31/01/2007

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46150

Liable  for  VAT

yes

Activity  description

Agents  involved  in  the  sale  of furniture,  household  goods, hardware and ironmongery

VAT  Number

BE.0887.137.155  Check  VAT

Belgian Bullettin of Acts Publications

moniteur belge

 

number

 

 

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

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

 

 

SIGNIFICANT  EVENTS

 

Event  Date

25/06/2012

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar 25-06-2012: Herbenoemd als bestuurders tot de jaarvergadering 2018 : Mehta Manoj (tevens als gedelegeerd bestuurder), Vanjara Chaitanya (tevens als gedelegeerd bestuurder) en Mehta Sangeeta.

 

 

Company accounts

 

ASSETS

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

3,077

-30.18

4,407

25.66

3,507

-18.22

4,288

-

-

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

3,077

-30.18

4,407

25.66

3,507

-18.22

4,288

-

-

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

2,552

-31.75

3,739

6.62

3,507

-18.22

4,288

-

-

Furniture  &  Vehicles

525

-21.39

668

-

-

-

-

-

-

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

Total  current  assets

7,372,794

80.49

4,084,971

20.29

3,395,882

24.12

2,735,946

4.20

2,625,610

Inventories

3,792,009

163

1,437,851

-26.00

1,943,078

88.39

1,031,392

-23.80

1,353,586

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

3,792,009

163

1,437,851

-

0

-

0

-

0

Other  stocks

0

-

0

-100

1,943,078

88.39

1,031,392

-23.80

1,353,586

Trade  debtors

3,240,102

26.19

2,567,588

87.24

1,371,274

9.01

1,257,909

15.53

1,088,833

Other  amounts  receivable

104,342

118

47,720

-7.17

51,405

2.52

50,144

-23.41

65,471

Cash

217,454

755

25,420

8.56

23,415

-94.01

391,090

243

113,823

Miscellaneous  current  assets

18,888

195

6,392

-4.72

6,709

23.98

5,411

38.90

3,896

Total  Assets

7,375,871

80.37

4,089,378

20.30

3,399,389

24.05

2,740,235

4.37

2,625,610

 

 

LIABILITIES

 

Total  shareholders  equity

102,094

18.98

85,809

29.88

66,066

23.55

53,475

19.93

44,588

Issued  share  capital

62,000

0

62,000

0

62,000

0

62,000

0

62,000

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

40,094

68.40

23,809

485

4,066

47.69

-8,525

48.96

-17,412

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

7,273,777

81.68

4,003,570

20.11

3,333,322

24.06

2,686,760

4.10

2,581,022

Other  long  term  loans

181,278

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

0

-1

-200

1

-

0

-

0

Total  long  term  debts

181,278

18127764

-1

-200

1

-

0

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

193,401

1098

16,132

-95.23

338,425

2020

15,958

1683

895

Trade  creditors

6,100,021

92.33

3,171,597

46.66

2,162,588

16.50

1,856,228

1.72

1,824,762

Amounts  Payable  for  Taxes,

52,409

57.12

33,355

19.27

27,965

-18.54

34,331

51.08

22,724

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

746,669

-4.58

782,486

-2.72

804,344

3.09

780,244

6.50

732,641

Total  current  liabilities

7,092,499

77.15

4,003,570

20.11

3,333,322

24.06

2,686,760

4.10

2,581,022

Total  Liabilities

7,375,871

80.37

4,089,378

20.30

3,399,389

24.05

2,740,235

4.37

2,625,610

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.16

-15.79

0.19

-

-

-

-

-

-

Return  on  capital  employed

8.90

-71.82

31.58

12.71

28.02

2.98

27.21

153

10.72

Return  on  total  assets  employed

0.34

-48.48

0.66

22.22

0.54

1.89

0.53

194

0.18

Return  on  net  assets  employed

24.70

-21.79

31.58

12.71

28.02

2.98

27.21

153

10.72

Sales  /  net  working  capital

56.55

-66.96

171.15

-

-

-

-

-

-

Stock  turnover  ratio

23.92

131

10.32

-

-

-

-

-

-

Creditor  days

141.00

69.06

83.40

-

-

-

-

-

-

Debtor  days

74.61

10.91

67.27

-

-

-

-

-

-

 

SHORT  TERM  STABILITY

 

Current  ratio

1.04

1.96

1.02

0

1.02

0

1.02

0

1.02

Liquidity  ratio  /  acid  ratio

0.50

-24.24

0.66

50.0

0.44

-30.16

0.63

28.57

0.49

Current  debt  ratio

69.47

48.89

46.66

-7.51

50.45

0.42

50.24

-13.21

57.89

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

18,012

-14.41

21,043

54.24

13,643

43.00

9,541

73.19

5,509

Net  worth

102,094

18.98

85,809

29.88

66,066

23.55

53,475

19.93

44,588

 

LONG  TERM  STABILITY

 

Gearing

366.99

1852

18.80

-96.33

512.25

1616

29.84

1384

2.01

Equity  in  percentage

1.38

-34.29

2.10

8.25

1.94

-0.51

1.95

14.71

1.70

Total  debt  ratio

71.25

52.70

46.66

-7.51

50.45

0.42

50.24

-13.21

57.89

Working  capital

280,295

244

81,401

30.12

62,560

27.19

49,186

10.31

44,588

 

 

PROFIT & LOSS

 

Operating  Income

15,852,928

13.72

13,940,371

-

-

-

-

-

-

Turnover

15,851,258

13.78

13,931,492

-

-

-

-

-

-

Total  operating  expenses

15,791,384

13.77

13,880,642

-

-

-

-

-

-

Gross  Operating  Margin

-

-

-

-

74,967

13.72

65,923

53.18

43,036

Operating  Charges

15,793,054

13.70

13,889,522

-

-

-

-

-

-

Employee  costs

32,192

-22.99

41,800

35.46

30,857

-8.48

33,716

29.54

26,028

Wages  and  salary

26,583

-24.52

35,219

40.54

25,060

3.22

24,279

8.07

22,465

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

5,323

-18.00

6,492

23.85

5,242

-40.20

8,766

226

2,682

Other  employee  costs

286

221

89

-83.94

554

-17.45

671

-23.82

881

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

1,726

32.65

1,301

23.79

1,051

60.52

655

-

-

Operating  result

59,874

17.75

50,850

25.13

40,638

36.42

29,789

100

14,852

Total  financial  income

300

-76.47

1,277

79.35

712

4547

15

-93.51

236

Total  financial  expenses

34,961

39.70

25,026

9.58

22,838

49.72

15,253

47.98

10,308

Results  on  ordinary  operations  before  taxation

25,213

-6.97

27,101

46.40

18,512

27.22

14,551

204

4,780

Extraordinary  Income

-

-

-

-

-

-

9,828

1248

729

Extraordinary  Charges

-

-

-

-

-

-

15,493

-

-

Extraordinary  items

0

-

0

-

0

0

-5,665

-877

729

Results  for  the  Year  Before  Taxation

25,213

-6.97

27,101

46.40

18,512

108

8,886

61.30

5,509

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

8,928

21.33

7,358

24.29

5,920

-

-

-

-

Results  on  ordinary  operations  after  taxation

16,286

-17.51

19,743

56.79

12,592

-13.46

14,551

204

4,780

Net  result

16,286

-17.51

19,742

56.78

12,592

41.70

8,886

61.30

5,509

Profit  (Loss)  for  the  Year  to  be  appropiated

16,286

-17.51

19,742

56.78

12,592

41.70

8,886

61.30

5,509

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2013

 

Full-time  Employees

-

Part-time  Employees

1

Total  Fte  Employees

1

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

1,538

Total

1,538

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

32,192

Total

32,192

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

1,995

Personnel  Charges

41,800

Benefits  In  Addition  To  Wages

-

 

 

 

 

Type  of  Contract

 

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

1

1

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

 

 

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

-

-

-

Secondairy education

-

-

-

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

 

 

Working  Category

 

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

-

1

1

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

-

1

1

Leavers

-

1

1

 

 

Industry comparison

 

Activity code                46150

Activity description      Agents involved in the sale of furniture, household goods, hardware and ironmongery

 

 

Payment Information

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

Details

-

 

 

PAYMENT INFORMATION SUMMARY

 

Total  number  of  Invoices  available

44

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

36

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

1

 

 

PAYMENT EXPECTATIONS

 

Payment  expectation  days

141

Day  sales  outstanding

74.61

 

 

INDUSTRY COMPARISON

 

Activity  code

46150

Activity  description

Agents  involved  in  the  sale  of  furniture,  household  goods,  hardware  and  ironmongery

Industry  average  payment expectation  days

79.08

Industry  average  day  sales outstanding

90.89

 

 

Industry quartile analysis

 

PAYMENT  EXPECTATIONS

 

Company  result

141

Lower

77.62

Median

35.93

Upper

13.19

 

 

DAY SALES OUTSTANDING

 

Company  result

74.61

Lower

87.78

Median

34.14

Upper

12.99

 

 

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

Managing  Director

Start  Date

31/08/2011

Street

173 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

CHAITANYA  VANJARA

Position

Director

Start  Date

01/09/2008

Street

173 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

CURRENT MANDATES IN OTHER COMPANIES

 

Name

Sur  Jewel  NV

Business  number

428105045

Position

Director

Start  Date

12/08/2011

End  Date

26/06/2017

 

 

FORMER DIRECTOR DETAILS

 

Name

SANGEETA  MANOJ  MEHTA

Position

Director

Start  Date

31/01/2007

End  Date

09/12/2014

Street

14 BERKENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

MANOJ  KUMAR  RASIKLAL  MEHTA

Position

Managing  Director

Start  Date

31/01/2007

End  Date

09/12/2014

Street

70 JACHTLAAN  EDEGEM

Post  code

2650

Country

Belgium

Position

Director

Start  Date

31/01/2007

End  Date

Unknown  date

Street

70 JACHTLAAN  EDEGEM

Post  code

2650

Country

Belgium

Position

Chairperson

Start  Date

31/01/2007

End  Date

Unknown  date

Street

70 JACHTLAAN  EDEGEM

Post  code

2650

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.40

UK Pound

1

Rs.101.19

Euro

1

Rs.73.89

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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

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NB

                                       New Business

 

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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.