MIRA INFORM REPORT

 

 

Report No. :

339624

Report Date :

09.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SHAMAS  BVBA

 

 

Registered Office :

Hoveniersstraat  51-Bus  121 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

01.02.1980

 

 

Com. Reg. No.:

420259824

 

 

Legal Form :

Private  Limited  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 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

420259824

Branche  Unit  Number

2018525953

Company  name

SHAMAS  BVBA

Address

HOVENIERSSTRAAT  51-BUS  121

 

2018 ANTWERPEN

Number  of  staff

0

Date  of  establishment

01/02/1980

Telephone  number

036085822

Fax  number

 

 

 

Commentary

 

The  business  was  established  over  35  years  ago.

The  business  has  0  employees.

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

Pre-tax  profits  decreased  by  31%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  127%  during  the  latest  trading  period.

Turnover  in  the  latest  trading  period  decreased  21%  on  the  previous  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

15,509,789

26,549

150,914

97,175

31/12/2013

19,724,197

38,681

131,035

111,070

31/12/2012

16,476,065

13,377

104,220

80,370

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

3,633,514

0

18,600

24,106

31/12/2013

3,913,711

0

18,600

31,739

31/12/2012

4,266,763

0

18,600

18,255

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

80.62

Industry  average  payment

106.56

Industry  average  day  sales

171.54

expectation  days

 

outstanding

 

Day  sales  outstanding

46.89

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

 

Court  action  type

no

 

PROTESTED  BILLS

 

Bill  amount

-

 

NSSO  DETAILS

 

Date  of  summons

-

 

 

Company  information

 

Business  number

420259824

Company  name

SHAMAS  BVBA

Fax  number

-

Date  founded

01/02/1980

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and

VAT  Number

BE.0420.259.824  Check  VAT

 

other  precious  stones

 

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

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

 

 

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

53,739

169

19,966

-16.29

23,850

54.93

15,394

-25.30

20,609

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

10,107

-29.49

14,334

-17.13

17,296

95.68

8,839

-37.11

14,054

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

8,703

-29.63

12,368

-13.00

14,217

621

1,971

126

870

Furniture  &  Vehicles

1,404

-28.57

1,965

-36.17

3,079

-55.17

6,868

-47.91

13,184

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

43,632

674

5,632

-14.07

6,555

-0.01

6,555

0.01

6,555

Total  current  assets

3,579,774

-8.06

3,893,745

-8.23

4,242,913

37.59

3,083,781

-6.67

3,304,139

Inventories

1,528,875

-14.43

1,786,688

3.70

1,722,876

553

263,450

-33.22

394,521

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

1,528,875

-14.43

1,786,688

3.70

1,722,876

-

0

-

0

Other  stocks

0

-

0

-

0

-100

263,450

-33.22

394,521

Trade  debtors

1,992,273

-4.33

2,082,412

-15.64

2,468,341

-6.70

2,645,525

-4.37

2,766,282

Other  amounts  receivable

3,960

-

-

-

8,599

-78.35

39,720

7.70

36,881

Cash

53,003

127

23,327

-43.51

41,297

-69.05

133,428

26.45

105,522

Miscellaneous  current  assets

1,663

26.02

1,319

-26.67

1,799

8.52

1,658

77.71

933

Total  Assets

3,633,514

-7.16

3,913,711

-8.27

4,266,763

37.67

3,099,175

-6.78

3,324,748

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

150,914

15.17

131,035

25.73

104,220

9.97

94,770

17.13

80,910

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

132,314

17.68

112,435

31.32

85,620

12.41

76,170

22.24

62,310

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

3,482,599

-7.93

3,782,676

-9.13

4,162,543

38.55

3,004,405

-7.38

3,243,838

Other  long  term  loans

-

-

-

-

-

-

1,875

-74.35

7,310

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-100

1,875

-74.35

7,310

Current  portion  of  long  term  debt

-

-

-

-

1,875

-54.29

4,102

-13.48

4,741

Financial  debts

-

-

-

-

-

-

-

-

730

Trade  creditors

3,416,164

-8.28

3,724,554

-9.26

4,104,428

41.63

2,898,027

-6.36

3,094,749

Amounts  Payable  for  Taxes,

9,052

-31.30

13,176

-62.40

35,047

444

6,442

-65.41

18,623

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

57,383

27.67

44,946

112

21,193

-77.44

93,959

-20.16

117,685

Total  current  liabilities

3,482,599

-7.93

3,782,676

-9.13

4,162,543

38.63

3,002,530

-7.23

3,236,529

Total  Liabilities

3,633,514

-7.16

3,913,711

-8.27

4,266,763

37.67

3,099,175

-6.78

3,324,748

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.17

-15.00

0.20

150

0.08

-

-

-

-

Return  on  capital  employed

17.59

-40.41

29.52

129

12.84

-33.81

19.40

50.27

12.91

Return  on  total  assets  employed

0.73

-26.26

0.99

219

0.31

-48.33

0.60

76.47

0.34

Return  on  net  assets  employed

17.59

-40.41

29.52

129

12.84

-35.09

19.78

40.48

14.08

Sales  /  net  working  capital

159.61

-10.12

177.58

-13.38

205.00

-

-

-

-

Stock  turnover  ratio

9.86

8.83

9.06

-13.38

10.46

-

-

-

-

Creditor  days

80.62

16.69

69.09

-24.10

91.03

-

-

-

-

Debtor  days

46.89

21.67

38.54

-29.52

54.68

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.03

0

1.03

0.98

1.02

-0.97

1.03

0.98

1.02

Liquidity  ratio  /  acid  ratio

0.59

5.36

0.56

-8.20

0.61

-35.11

0.94

4.44

0.90

Current  debt  ratio

23.08

-20.06

28.87

-27.72

39.94

26.07

31.68

-20.80

40.00

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

24,106

-24.05

31,739

73.86

18,255

-13.31

21,059

34.40

15,669

Net  worth

150,914

15.17

131,035

25.73

104,220

9.97

94,770

17.13

80,910

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

1.80

-71.47

6.31

-60.06

15.80

Equity  in  percentage

4.15

23.88

3.35

37.30

2.44

-20.26

3.06

25.93

2.43

Total  debt  ratio

23.08

-20.06

28.87

-27.72

39.94

25.99

31.70

-20.93

40.09

Working  capital

97,175

-12.51

111,070

38.20

80,370

-1.08

81,251

20.17

67,611

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

15,523,403

-21.43

19,758,417

19.92

16,476,843

-

-

-

-

Turnover

15,509,789

-21.37

19,724,197

19.71

16,476,065

-

-

-

-

Total  operating  expenses

15,466,222

-21.39

19,675,503

19.55

16,457,627

-

-

-

-

Gross  Operating  Margin

-

-

-

-

-

-

34,352

53.47

22,383

Operating  Charges

15,479,836

-21.46

19,709,723

19.75

16,458,405

-

-

-

-

Employee  costs

19,213

8.55

17,700

429

3,343

-

-

-

-

Wages  and  salary

13,860

0.59

13,779

354

3,034

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

949

248

272

1378

18

-

-

-

-

Other  employee  costs

4,404

20.70

3,649

1157

290

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

4,227

-14.16

4,924

-44.09

8,806

22.32

7,199

-2.42

7,377

Operating  result

43,567

-10.53

48,694

164

18,438

-26.32

25,026

81.83

13,763

Total  financial  income

3,854

10808

35

-63.20

96

-96.93

3,131

146

1,271

Total  financial  expenses

20,872

107

10,048

94.84

5,157

-45.19

9,409

158

3,642

Results  on  ordinary  operations  before

26,549

-31.36

38,681

189

13,377

-28.65

18,748

64.58

11,392

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

1,020

-

-

-

90

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

1,020

-

0

-100

90

-

0

-

0

Results  for  the  Year  Before  Taxation

27,569

-28.73

38,681

187

13,468

-28.17

18,748

64.58

11,392

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

7,690

-35.19

11,866

195

4,018

-17.80

4,888

57.68

3,100

Results  on  ordinary  operations  after

18,859

-29.67

26,815

186

9,359

-32.47

13,860

67.15

8,292

taxation

 

 

 

 

 

 

 

 

 

Net  result

19,879

-25.87

26,815

183

9,450

-31.82

13,860

67.15

8,292

Profit  (Loss)  for  the  Year  to  be  appropiated

19,879

-25.87

26,815

183

9,450

-31.82

13,860

67.15

8,292

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2014

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

1

 

Total  Fte  Employees

 

1

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

924

 

Total

 

924

 

 

 

 

 

Personnel  Charges

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

17,676

 

Total

 

17,676

 

Benefits  In  Addition  To  Wages

 

-

 

 

 

 

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

1

 

Actual  working  hours

 

940

 

Personnel  Charges

 

17,700

 

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

-

-

-

Substitution

 

 

 

 

 

Gender  and  Education

 

 

 

Level

 

 

 

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

-

1

1

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

 

-

 

 

 

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

80.62

Day  sales  outstanding

46.89

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment expectation  days

106.56

Industry  average  day  sales outstanding

171.54

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

80.62

Lower

120.34

Median

75.65

Upper

45.88

 

 

Day  sales  outstanding

 

Company  result

46.89

Lower

102.70

Median

55.01

Upper

25.25

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

Principal  Manager

Start  Date

11/06/2013

Street

191 MECHELSESTEENWEG  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Name

ANUJ  SANHY

Name

AJIT  SAHNY

Position

Principal  Manager

Start  Date

24/07/2010

Street

29 SMOLDERS  BLOCKSTRAAT  EDEGEM

Post  code

2650

Country

Belgium

 

 

Former  director  details

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.61

UK Pound

1

Rs.102.30

Euro

1

Rs.74.61

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

VNT

 

               

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.