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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

504654

Report Date :

21.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

OM CORPORATION EBVBA

 

 

Registered Office :

Hoveniersstraat 12, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

15.10.1987

 

 

Com. Reg. No.:

432216063

 

 

Legal Form :

Single-Person 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 :

B

 

Credit Rating

Explanation

 

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

 

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

 

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 Name

 

OM CORPORATION EBVBA 

 

 

COMPANY SUMMARY

 

Business  number

432216063

Branche  Unit  Number

2030996886

Company  name

OM CORPORATION EBVBA

Address

HOVENIERSSTRAAT 12, 2018 ANTWERPEN

Date  of  establishment

15/10/1987

Telephone  number

3232317641

Mobile  number

32475817641

Fax  number

032343259

Liable  for  VAT

yes

VAT  Number

BE.0432.216.063  Check  VAT  number

 

 

Commentary

 

The business was established  over  30  years  ago.

No employees are recorded  for  this  business.

The business has been  at  the  address  for  over  30  years.

Operating Result in  the  latest  trading  period  increased  387% on the previous trading period.

A  21%  decline in  Total  Assets  occurred  during  the  latest  trading  period.

Pre-tax  profits  increased  by  2221%  compared  to  the  previous  trading  period.

The business saw a  decrease  in their Cash Balance of 39% during the latest trading period.

 

 

ANNUAL ACCOUNTS

 

DATE  OF  LATEST 

ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

 

277,543

2,100,808

2,902,576

31/12/2015

 

11,953

1,853,863

2,622,686

31/12/2014

 

-123,267

1,842,018

2,522,412

Accounts

 

 

 

 

DATE  OF  LATEST 

ACCOUNTS

BALANCE  TOTAL

NUMBER  OF 

EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

2,971,982

-

18,600

274,823

31/12/2015

3,802,154

-

18,600

18,946

31/12/2014

3,286,322

-

18,600

-116,759

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

expectation  days

202.49

Industry  average  day  sales outstanding

211.53

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

432216063

Company  name

OM  CORPORATION  EBVBA

Fax  number

032343259

Date  founded

15/10/1987

Company  status

active

Company  type

Single-person 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)

 

 

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

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

11,479

-38.22

18,580

-27.65

25,680

-18.80

31,627

1049

2,752

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

9,979

-41.57

17,080

-29.37

 

24,180

-19.74

30,127

2306

1,252

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

682

-32.42

1,009

-24.48

1,336

829

144

-69.68

474

Furniture  &  Vehicles

9,297

-42.15

16,071

-29.65

22,844

-23.81

29,983

3755

778

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

1,500

0

1,500

0

1,500

0

1,500

0

1,500

Total  current  assets

2,960,503

-21.75

3,783,574

16.04

3,260,642

-6.43

3,484,710

9.99

3,168,251

Inventories

624,584

14.02

547,765

-29.76

779,835

-15.69

924,948

-27.72

1,279,612

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

624,584

14.02

547,765

-29.76

779,835

-15.69

924,948

-27.72

1,279,612

Trade  debtors

1,089,547

-22.05

1,397,753

-24.57

1,853,163

5.08

1,763,608

26.18

1,397,723

Other  amounts  receivable

333,729

5.00

317,844

5.45

301,420

4.71

287,863

6.00

271,571

Cash

911,491

-39.97

1,518,502

367

324,852

-35.60

504,412

133

215,681

Miscellaneous  current  assets

1,152

-32.64

1,710

24.58

1,373

-64.62

3,880

5.87

3,665

Total  Assets

2,971,982

-21.83

3,802,154

15.70

3,286,322

-6.54

3,516,337

10.89

3,171,003

 

 

LIABILITIES             

                                                                                                                                                     

Total  shareholders  equity

2,100,808

13.32

1,853,863

0.64

1,842,018

-6.30

1,965,849

1.36

1,939,476

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

2,082,208

13.46

1,835,263

0.65

1,823,418

-6.36

1,947,249

1.37

1,920,876

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

871,175

-55.29

1,948,291

34.89

1,444,304

-6.85

1,550,488

25.90

1,231,527

Other  long  term  loans

425,239

3.28

411,725

11.52

369,199

11.39

331,436

-2.44

339,734

Other  long  term  liabilities

388,009

3.28

375,677

11.52

336,875

13.59

296,570

-4.33

309,989

Total  long  term  debts

813,248

3.28

787,402

11.52

706,074

12.43

628,006

-3.34

649,723

Current  portion  of  long  term  debt

0

-

0

-100

6,409

-57.38

15,038

-

0

Financial  debts

0

-100

587,857

78.43

329,462

-41.85

566,561

120

257,380

Trade  creditors

26,631

-95.32

569,565

41.77

401,763

18.84

338,067

4.73

322,789

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

10,486

2629

384

12.30

342

-77.49

1,520

26.39

1,203

Miscellaneous  current  liabilities

20,809

575

3,082

1118

253

-80.46

1,295

200

431

Total  current  liabilities

57,927

-95.01

1,160,888

57.25

738,230

-19.97

922,481

58.56

581,804

Total Liabilities

2,971,982

-21.83

3,802,154

15.70

3,286,322

-6.54

3,516,337

10.89

3,171,003

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

9.52

2015

0.45

9.30

-4.84

-631

0.91

216

-0.42

Return  on  total  assets  employed

9.34

2912

0.31

8.27

-3.75

-659

0.67

191

-0.35

Return  on  net  assets  employed

13.21

1964

0.64

9.57

-6.69

-657

1.20

214

-0.56

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

51.11

1467

3.26

-26.24

4.42

16.93

3.78

-30.64

5.45

Liquidity  ratio  /  acid  ratio

40.33

1345

2.79

-16.96

3.36

21.30

2.77

-14.77

3.25

Current  debt  ratio

0.03

-95.24

0.63

57.50

0.40

-14.89

0.47

56.67

0.30

Cashflow

274,823

1350

18,946

16.23

-116,759

-472

31,366

-53.51

67,467

Net  worth

2,100,808

13.32

1,853,863

0.64

1,842,018

-6.30

1,965,849

1.36

1,939,476

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

20.24

-62.46

53.92

40.86

38.28

-17.57

46.44

50.83

30.79

Equity  in  percentage

70.69

44.98

48.76

-13.01

56.05

0.25

55.91

-8.58

61.16

Total  debt  ratio

0.41

-60.95

1.05

34.62

0.78

-1.27

0.79

25.40

0.63

Working  capital

2,902,576

10.67

2,622,686

3.98

2,522,412

-1.55

2,562,229

-0.94

2,586,448

 

 

 

 

PROFIT & LOSS

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

299,676

339

68,219

-16.06

81,274

3.05

78,867

187

27,413

Operating  Charges

0

-

-

-

-

-

-

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

-

-

-

-

-

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

7,101

0

7,101

0.39

7,073

41.66

4,993

398

1,002

Operating  result

291,119

387

59,774

71.31

-83,819

-217

71,374

191

24,475

Total  financial  income

33

26.30

26

-59.10

64

88.38

34

80.51

19

Total  financial  expenses

13,609

-71.56

47,847

21.10

39,511

-17.43

47,850

35.02

35,439

Results  on  ordinary  operations  before  taxation

277,543

2221

11,953

9.70

-123,267

-623

23,558

215

-10,946

Extraordinary  Income

-

-

-

-

-

-

2,984

-96.15

77,481

Extraordinary  Charges

-

-

-

-

509

-

-

-

-

Extraordinary  items

-

-

-

-

-509

-117

2,984

-96.15

77,481

Results  for  the  Year  Before  Taxation

277,543

2221

11,953

9.66

-123,775

-566

26,542

-60.11

66,535

Taxation

9,821

9015

108

92.15

56

-66.76

169

140

70

Results  on  ordinary  operations  after  taxation

267,722

2160

11,846

9.61

-123,323

-627

23,389

212

-11,016

Net  result

267,722

2160

11,846

9.57

-123,832

-569

26,373

-60.32

66,465

Profit  (Loss)  for  the  Year  to  be  appropiated

267,722

2160

11,846

9.57

-123,832

-569

26,373

-60.32

66,465

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

industry average credit rating

69.57

Industry average credit limit

181195.21

 

 

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 expectation days

202.49

Industry average day sales outstanding

211.53

 

 

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

 

 

Companies that match this address

 

Business number

Company  name

 

Date  of accounts

427399420

WHITE  GEMS  BVBA

-

430729290

NATIONAL  GEMS  CORP  BVBA

-

504992490

STROSBERG  IDALINE,  STROSBERG  SOLANGE  EN  STROSBERG JACQUES  FV

-

434805963

TRANSLLOYD  REIZEN  NV

31/12/2016

880557981

DHARMA  DIAMONDS  BVBA

31/12/2016

882990109

PRIME  INTERNATIONAL  BVBA

31/12/2016

434835855

PATHY'S  JEWELS  BVBA

-

451565385

SEGA  DIAM  EBVBA

31/12/2013

463048603

VISHAL  JEWELS  BVBA

31/12/1999

 

 

Linked Companies

 

Summary

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

Summons

 

Thereis 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

01/10/2006

Street

38 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Seema  Jhaveri

Name

Deepak  Jhaveri

Position

Manager

Start  Date

26/07/1989

Street

38 QUINTEN  MATSIJSLEI  Antwerpen

Post  code

2018

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.02

UK Pound

1

INR 92.73

Euro

1

INR 81.46

EUR

1

INR 81.52

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

NIT

 

 

 

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.