MIRA INFORM REPORT

 

 

Report No. :

504743

Report Date :

18.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

HELICS GEMB BVBA

 

 

Registered Office :

Hoveniersstraat  30-Bus  199 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

07.05.2012

 

 

Com. Reg. No.:

845843067

 

 

Legal Form :

Private  limited  liability company

 

 

Line of Business :

Wholesale of diamonds and other precious stones

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

BELGIUM - ECONOMIC OVERVIEW

 

Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech. Service and high-tech industries are concentrated in the northern Flanders region while the southern region of Wallonia is home to industries like coal and steel manufacturing. Belgium is completely reliant on foreign sources of fossil fuels, and the planned closure of its seven nuclear plants by 2025 should increase its dependence on foreign energy. Its role as a regional logistical hub makes its economy vulnerable to shifts in foreign demand, particularly with EU trading partners. Roughly three-quarters of Belgium's trade is with other EU countries, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU.

Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of industrial differences between the regions. The economy largely recovered from the March 2016 terrorist attacks that mainly impacted the Brussels region tourist and hospitality industry. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to decrease Belgium's high public debt of about 104% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and higher inflation 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 labor market rules and welfare benefits. These changes have generally made Belgian wages more competitive regionally, but risk worsening tensions with trade unions and triggering extended strikes. In 2017, Belgium approved a tax reform plan to ease corporate rates from 33% to 29% by 2018 and down to 25% by 2020. The tax plan also included benefits for innovation and SMEs, intended to spur competitiveness and private investment.

 

Source : CIA

 

Company  summary                       

 

Business  number

845843067

Branche  Unit  Number

2209380084

Company  name

HELICS  GEMB  BVBA

Address

HOVENIERSSTRAAT  30-BUS  199

2018 ANTWERPEN

Date  of  establishment

07/05/2012

Telephone  number

3235008802

Mobile  number

32489889077

Fax  number

-

Liable  for  VAT

yes

VAT  Number

BE.0845.843.067  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  5  years  ago.

No  employees  are  recorded  for  this  business.

The  business  has  been  at  the  address  for  over  5  years.

Operating  Result  in  the  latest  trading  period  increased  3512%  on  the  previous  trading  period

Net  Worth  increased  by  2006%  during  the  latest  trading  period.

A  40%  growth  in  Total  Assets  occurred  during  the  latest  trading  period.

Pre-tax  profits  increased  by  4293%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  430%  during  the  latest  trading  period.

 

 

Annual  accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

 

1,357,318

1,320,412

1,811,530

31/12/2015

 

30,894

62,696

493,297

31/12/2014

 

6,830

44,011

-279,609

 

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

4,367,700

-

18,600

1,328,983

31/12/2015

3,116,418

-

18,600

66,057

31/12/2014

1,933,692

-

18,600

37,689

 

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

202.49

Industry  average  day  sales

211.53

expectation  days

 

outstanding

 

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

845843067

Company  name

HELICS  GEMB  BVBA

Fax  number

-

Date  founded

07/05/2012

Company  status

active

Company  type

Private  limited  liability

company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2016

Activity  code

46761

Number  of  staff

-

Activity  description

Wholesale  of  diamonds  and other  precious  stones

 

 

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)

 

Significant  Events

 

Event  Date

07/11/2013

Event  Description

resignation-appointment  of  director(s)

Event  Details

Commentaar  07-11-2013:  Ontslag  van  Jogani  Chirag  als  zaakvoerder  vanaf  31/12/2013.  Benoeming van  Shah  Hiren  als  nieuwe  zaakvoerder  vanaf  01/01/2014.

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2016

%

31-12-2015

%

31-12-2014

%

31-12-2013

%

31-12-2012

Weeks

52

 

52

 

52

 

52

 

34

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

267,824

-14.00

311,432

-11.79

353,060

62.87

216,768

17417

1,237

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

267,824

-14.00

311,432

-11.79

353,060

62.87

216,768

17417

1,237

Land  &  building

129,253

-2.42

132,458

-2.36

135,662

-2.31

138,867

-

0

Plant  &  machinery

66,887

-16.94

80,528

-7.78

87,325

19.03

73,366

5829

1,237

Furniture  &  Vehicles

71,684

-27.19

98,446

-24.31

130,073

2768

4,535

-

0

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

0

-

0

-

0

-

0

-

0

Total  current  assets

4,099,877

46.16

2,804,986

77.46

1,580,632

234

472,328

944

45,236

Inventories

678,096

28.40

528,109

40.52

375,824

133

160,944

-

0

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

678,096

28.40

528,109

40.52

375,824

133

160,944

-

0

Trade  debtors

1,945,757

2.13

1,905,141

67.00

1,140,809

297

287,179

2771

10,000

Other  amounts  receivable

102,601

0.32

102,272

3729

2,671

-40.44

4,484

195

1,520

Cash

1,364,179

430

257,083

355

56,411

278

14,923

-22.41

19,233

Miscellaneous  current  assets

9,244

-25.34

12,381

151

4,916

2.49

4,797

-66.88

14,483

Total  Assets

4,367,700

40.15

3,116,418

61.16

1,933,692

180

689,095

1382

46,474

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

1,320,412

2006

62,696

42.45

44,011

4.70

42,035

64.99

25,478

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

1,301,812

2852

44,096

73.53

25,411

8.43

23,435

240

6,878

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

3,047,288

-0.21

3,053,722

61.60

1,889,681

192

647,061

2981

20,996

Other  long  term  loans

758,941

2.28

742,033

2420

29,440

-20.31

36,944

-

0

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

758,941

2.28

742,033

2420

29,440

-20.31

36,944

-

0

Current  portion  of  long  term  debt

7,212

-57.46

16,951

-64.78

48,125

40.28

34,306

-

0

Financial  debts

0

-

0

-

0

-

0

-

0

Trade  creditors

1,952,273

-4.87

2,052,273

30.54

1,572,127

177

565,882

3132

17,508

Amounts  Payable  for  Taxes,  Remuneration  &

75,182

310

18,297

171

6,752

-27.04

9,254

165

3,488

Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

253,680

13.17

224,168

-3.89

233,237

34517

674

-

0

Total  current  liabilities

2,288,347

-1.01

2,311,689

24.27

1,860,241

204

610,116

2805

20,996

Total  Liabilities

4,367,700

40.15

3,116,418

61.16

1,933,692

180

689,095

1382

46,474

 

 

Ratio  analysis

                                                                                                                                                          

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

0.58

Return  on  capital  employed

65.28

1600

3.84

-58.71

9.30

-71.28

32.38

-19.49

40.22

Return  on  total  assets  employed

31.08

3039

0.99

182

0.35

-90.57

3.71

-83.17

22.05

Return  on  net  assets  employed

102.80

108

49.28

217

15.52

-74.49

60.84

51.27

40.22

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

72.31

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

3.67

Debtor  days

-

-

-

-

-

-

-

-

2.08

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.79

47.93

1.21

42.35

0.85

10.39

0.77

-64.19

2.15

Liquidity  ratio  /  acid  ratio

1.50

53.06

0.98

50.77

0.65

27.45

0.51

-76.28

2.15

Current  debt  ratio

1.73

-95.31

36.87

-12.78

42.27

191

14.51

1669

0.82

Cashflow

1,328,983

1911

66,057

75.27

37,689

40.29

26,865

285

6,964

Net  worth

1,320,412

2006

62,696

42.45

44,011

4.70

42,035

64.99

25,478

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

58.02

-95.21

1,210.58

586

176.24

3.98

169.50

-

-

Equity  in  percentage

30.23

1403

2.01

-11.84

2.28

-62.62

6.10

-88.87

54.82

Total  debt  ratio

2.31

-95.26

48.71

13.44

42.94

179

15.39

1776

0.82

Working  capital

1,811,530

267

493,297

176

-279,609

-102

-137,789

-668

24,240

 

 

Profit  &  loss 

                                                                                                                                             

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

1,752,876

Total  operating  expenses

-

-

-

-

-

-

-

-

1,741,379

Gross  Operating  Margin

1,505,824

1551

91,187

72.56

52,844

-10.87

59,290

411

11,582

Operating  Charges

-3,492

-

-

-

-

-

-

-

-

Employee  costs

-

-

273

1.06

270

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

-

-

273

1.06

270

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

46,267

-2.33

47,372

32.65

35,713

246

10,308

11924

86

Operating  result

1,452,000

3512

40,196

165

15,151

-53.48

32,571

183

11,497

Total  financial  income

216

-

-

-

1

-98.02

51

36328

0

Total  financial  expenses

98,389

957

9,302

11.77

8,322

18.05

7,049

464

1,249

Results  on  ordinary  operations  before  taxation

1,357,318

4293

30,894

352

6,830

-73.29

25,572

149

10,248

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

3,492

62.58

2,148

-

-

-

-

-

-

Extraordinary  items

-3,492

-62.58

-2,148

-

-

-

0

-

0

Results  for  the  Year  Before  Taxation

1,353,827

4609

28,747

320

6,830

-73.29

25,572

149

10,248

Taxation

71,111

606

10,062

107

4,853

-46.17

9,015

167

3,370

Results  on  ordinary  operations  after  taxation

1,286,208

6074

20,832

954

1,976

-88.06

16,557

140

6,878

Net  result

1,282,716

6765

18,685

845

1,976

-88.06

16,557

140

6,878

Profit  (Loss)  for  the  Year  to  be  appropiated

1,282,716

6765

18,685

845

1,976

-88.06

16,557

140

6,878

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

                                                                                                                                       

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

-

Part-time  Employees

-

Total  Fte  Employees

-

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

-

Actual  working  hours

-

Personnel  Charges

-

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

-

-

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding Substitution

-

-

-

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

-

-

-

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

-

Day  sales  outstanding

-

 

Industry  comparison            

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

202.49

expectation  days

 

Industry  average  day  sales

211.53

outstanding

 

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

-

Lower

132.04

Median

58.70

Upper

25.65

 

 

Day  sales  outstanding

 

Company  result

-

Lower

136.36

Median

81.15

Upper

44.49

 

 

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

 

 

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

01/01/2018

Street

 

Post  code

 

Country

 

Name

Tejal  Shah

Name

Hiren  Shah

Position

Manager

Start  Date

01/01/2014

Street

7 THEO  MERTENSPLEIN  EDEGEM

Post  code

2650

Country

Belgium

 

 

Former  director  details

 

Name

Chintan  Shah

Position

Manager

Start  Date

14/12/2012

End  Date

31/12/2017

Street

105 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Chirag  Jogani

Position

Manager

Start  Date

07/05/2012

End  Date

31/12/2013

Street

71 ZWALUWENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.61

UK Pound

1

INR 94.21

Euro

1

INR 81.32

Euro

1

INR 81.24

                                                                  

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

TRU

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.