MIRA INFORM REPORT

 

 

Report No. :

342304

Report Date :

26.09.2015

 

IDENTIFICATION DETAILS

 

Name :

G. DIAM BVBA

 

 

Registered Office :

Hoveniersstraat  30-Bus  108 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

01.12.2006

 

                                                                               

Com. Reg. No.:

885506268

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Wholesale of diamonds and other precious stones

 

 

No. of Employees :

1

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

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

885506268

Company  name

G.  DIAM  BVBA

Address

HOVENIERSSTRAAT  30-BUS  108

 

2018 ANTWERPEN

Number  of  staff

1

Date  of  establishment

01/12/2006

Telephone  number

032318187

Fax  number

032269491

 

 

Commentary

 

The  business  was  established  over  8  years  ago.

The  business  has  1  employees.

The  business  has  been  at  the  address  for  over  6  years.

A  25%  growth  in  Total  Assets  occurred  during  the  latest  trading  period.

The  business  saw  a  decrease  in  their  Cash  Balance  of  66%  during  the  latest  trading  period.

Turnover  in  the  latest  trading  period  increased  48%  on  the  previous  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

73,212,641

145,791

4,820,476

6,163,776

31/12/2013

49,409,853

144,829

4,128,727

5,338,462

31/12/2012

41,036,464

156,480

4,174,821

5,460,261

 

 

 

 

 

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

31,546,668

1

3,854,448

183,458

31/12/2013

25,138,079

1

3,393,468

178,399

31/12/2012

24,754,077

1

3,546,972

188,804

 

 

Trends

 

Profitability

Liquidity

Net  worth

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

66.39

Industry  average  payment

110.58

Industry  average  day  sales

172.59

expectation  days

 

outstanding

 

Day  sales  outstanding

147.73

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

 

PROTESTED  BILLS

Bill  amount

-

 

NSSO  DETAILS

Date  of  summons

-

 

 

Company  information

 

Business  number

885506268

Company  name

G.  DIAM  BVBA

Fax  number

032269491

Date  founded

01/12/2006

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 other  precious  stones

VAT  Number

BE.0885.506.268  Check  VAT 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)

 

 

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

876,542

11.63

785,191

 

-6.72

841,796

1.34

830,627

105

404,361

Intangible  fixed  assets

0

-

0

 

-

0

-

0

-

0

Tangible  fixed  assets

876,542

11.63

785,191

 

-6.72

841,796

1.34

830,627

105

404,361

Land  &  building

802,627

8.06

742,757

 

-7.60

803,838

0.72

798,114

116

367,836

Plant  &  machinery

2,512

-7.75

2,723

 

-19.49

3,382

-15.32

3,994

-9.12

4,395

Furniture  &  Vehicles

64,399

91.98

33,545

 

46.06

22,966

-19.47

28,519

-11.24

32,130

Leasing  &  Other  Similar  Rights

-

-

-

 

-

-

-

-

-

-

Other  tangible  assets

7,004

13.59

6,166

 

-46.89

11,610

-

0

-

0

Financial  fixed  assets

-

-

-

 

-

-

-

-

-

-

Total  current  assets

30,670,126

25.94

 

24,352,888

1.84

23,912,281

37.00

17,453,742

12.49

15,515,833

Inventories

838,661

4.92

799,316

 

29.39

617,758

55.15

398,175

6.95

372,301

Raw  materials  &  consumables

-

-

-

 

-

-

-

-

-

-

Work  in  progress

0

-

0

 

-

0

-

0

-

0

Finished  goods

838,661

4.92

799,316

 

29.39

617,758

55.15

398,175

6.95

372,301

Other  stocks

0

-

0

 

-

0

-

0

-

0

Trade  debtors

29,632,315

28.84

 

22,999,381

1.35

22,692,690

34.03

16,931,365

12.00

15,116,918

Other  amounts  receivable

14,230

362

3,074

 

91.17

1,608

-12.27

1,833

-9.70

2,030

Cash

184,920

-66.44

550,967

 

-8.08

599,402

389

122,370

397

24,583

Miscellaneous  current  assets

0

-100

150

 

-81.77

823

-

0

-

0

Total  Assets

31,546,668

25.49

 

25,138,079

1.55

24,754,077

35.38

18,284,369

14.85

15,920,194

 

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

4,820,476

16.75

4,128,727

-1.10

4,174,821

1.63

4,107,841

6.76

3,847,597

Issued  share  capital

3,854,448

13.58

3,393,468

-4.33

3,546,972

-1.94

3,617,172

3.27

3,502,512

Share  premium  account

-

-

 

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

966,028

31.39

735,259

17.11

627,849

27.96

490,669

42.19

345,085

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

26,726,191

27.21

21,009,352

2.09

20,579,256

45.16

14,176,528

17.43

12,072,597

Other  long  term  loans

2,219,841

11.27

1,994,926

-6.22

2,127,236

16.52

1,825,650

32.43

1,378,526

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

1

-

0

-

0

-

0

-

0

Total  long  term  debts

2,219,842

11.27

1,994,926

-6.22

2,127,236

16.52

1,825,650

32.43

1,378,526

Current  portion  of  long  term  debt

46,081

7.26

42,961

2.45

41,933

6.12

39,513

146

16,015

Financial  debts

9,892,421

57.72

6,272,115

-17.24

7,579,000

27.50

5,944,102

119

2,710,968

Trade  creditors

13,199,245

14.55

11,522,882

20.09

9,595,363

52.90

6,275,380

-20.34

7,877,933

Amounts  Payable  for  Taxes,

22,343

48.41

15,055

23.74

12,167

3955

300

-94.23

5,201

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

1,346,260

15.92

1,161,413

-5.08

1,223,557

1236

91,583

9.09

83,954

Total  current  liabilities

24,506,350

28.88

19,014,426

3.05

18,452,020

49.40

12,350,878

15.49

10,694,071

Total  Liabilities

31,546,668

25.49

25,138,079

1.55

24,754,077

35.38

18,284,369

14.85

15,920,194

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.20

-31.03

0.29

-23.68

0.38

18.75

0.32

-30.43

0.46

Return  on  capital  employed

2.07

-12.66

2.37

-4.44

2.48

9.73

2.26

-24.92

3.01

Return  on  total  assets  employed

0.46

-20.69

0.58

-7.94

0.63

-13.70

0.73

-26.26

0.99

Return  on  net  assets  employed

3.02

-13.96

3.51

-6.40

3.75

14.68

3.27

-19.85

4.08

Sales  /  net  working  capital

11.88

28.29

9.26

23.14

7.52

-9.94

8.35

16.95

7.14

Stock  turnover  ratio

1.15

-29.01

1.62

7.28

1.51

62.37

0.93

-13.89

1.08

Creditor  days

66.39

-22.87

86.07

-0.31

86.34

59.09

54.27

-35.52

84.17

Debtor  days

147.73

-13.05

169.90

-15.82

201.84

39.21

144.99

-9.56

160.31

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.25

-2.34

1.28

-1.54

1.30

-7.80

1.41

-2.76

1.45

Liquidity  ratio  /  acid  ratio

1.22

-1.61

1.24

-1.59

1.26

-8.70

1.38

-2.82

1.42

Current  debt  ratio

5.08

10.20

4.61

4.30

4.42

46.84

3.01

8.27

2.78

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

183,458

2.84

178,399

-5.51

188,804

16.18

162,510

6.02

153,277

Net  worth

4,820,476

16.75

4,128,727

-1.10

4,174,821

1.63

4,107,841

6.76

3,847,597

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

Gearing

252.22

25.31

201.27

-13.80

233.50

22.82

190.11

78.17

106.70

Equity  in  percentage

15.28

-6.94

16.42

-2.67

16.87

-24.92

22.47

-7.03

24.17

Total  debt  ratio

5.54

8.84

5.09

3.25

4.93

42.90

3.45

9.87

3.14

Working  capital

6,163,776

15.46

5,338,462

-2.23

5,460,261

7.00

5,102,864

5.83

4,821,762

 

 

 

 

 

 

 

 

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

73,212,916

48.17

49,413,093

20.40

41,039,631

-3.72

42,624,177

23.84

34,417,785

Turnover

73,212,641

48.17

49,409,853

20.40

41,036,464

-3.72

42,624,177

23.84

34,417,785

Total  operating  expenses

72,571,724

48.51

48,867,166

20.46

40,565,610

-3.89

42,205,797

23.55

34,161,635

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

72,571,998

48.50

48,870,407

20.46

40,568,777

-3.88

42,205,797

23.55

34,161,635

Employee  costs

30,379

69.23

17,951

11.68

16,073

-

-

-

-

Wages  and  salary

27,424

61.55

16,976

32.57

12,805

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

1,285

57.86

814

5.30

773

-

-

-

-

Other  employee  costs

1,670

930

162

-93.51

2,495

-

0

-

0

Director  remuneration

35,998

-0.17

36,059

19.60

30,149

0.49

30,002

0.01

30,000

Amortization  and  depreciation

52,568

19.97

43,818

4.08

42,102

49.18

28,222

357

6,164

Operating  result

640,917

18.10

542,687

15.26

470,854

12.54

418,380

63.33

256,150

Total  financial  income

 

48

-72.41

174

-85.89

1,233

2982

40

-90.22

409

Total  financial  expenses

495,174

24.41

398,032

26.12

315,607

11.11

284,042

185

99,499

Results  on  ordinary  operations

145,791

0.66

144,829

-7.45

156,480

16.45

134,379

-14.44

157,061

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before

145,791

0.66

144,829

-7.45

156,480

16.45

134,379

-14.44

157,061

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

14,901

45.42

10,247

4.80

9,778

10645

91

-99

9,948

Results  on  ordinary  operations

130,890

-2.74

134,582

-8.26

146,702

9.24

134,288

-8.72

147,113

after  taxation

 

 

 

 

 

 

 

 

 

Net  result

130,890

-2.74

134,581

-8.26

146,702

9.24

134,288

-8.72

147,113

Profit  (Loss)  for  the  Year  to  be appropiated

130,890

-2.74

134,581

-8.26

146,702

9.24

134,288

-8.72

147,113

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

 

During  the  reporting  year

 

 

ended  31-12-2014

 

 

Full-time  Employees

1

 

Part-time  Employees

-

 

Total  Fte  Employees

1

 

Number  of  hours  worked

 

 

Full-time  Employees

1,725

 

Part-time  Employees

-

 

Total

1,725

 

Personnel  Charges

 

 

Full-time  Employees

30,379

 

Part-time  Employees

-

 

Total

30,379

 

Benefits  In  Addition  To  Wages

-

 

During  the  previous  reporting  year

 

 

Average  number  employees  in  Fte

1

 

Actual  working  hours

1,254

 

Personnel  Charges

20,389

 

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

 

-

 

 

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

66.39

Day  sales  outstanding

147.73

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment expectation  days

110.58

Industry  average  day  sales outstanding

172.59

 

 

Industry  quartile  analysis

Payment  expectations

Company  result

66.39

Lower

120.34

Median

74.93

Upper

45.40

 

 

Day  sales  outstanding

 

Company  result

147.73

Lower

106.72

Median

54.51

Upper

24.79

 

 

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

 

 

Individual  Shareholders

 

SHAREHOLDER  NAME

 

Forename

Jitendra

Middle  name

-

Surname

Bagadia

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

01/12/2006

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Hoveniersstraat

House  number

30

Minor  town

-

Postal  town

Antwerpen

Post  code

2018

Country

Belgium

SHAREHOLDER  NAME

 

 

 

Forename

Amit

Middle  name

-

Surname

Vaghasia

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

01/12/2006

End  date

-

Percentage  owned

53.5%

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

-

House  number

-

Minor  town

-

Postal  town

-

Post  code

-

Country

India

 

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

17/12/2007

Street

111 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

AKSHAY  CHANDRAKANT  JHAVERI

 

 

Former  director  details

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.10

UK Pound

1

Rs.100.89

Euro

1

Rs.73.96

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

TRU

 

               

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.