MIRA INFORM REPORT

 

 

Report No. :

506384

Report Date :

30.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

GEMMATA  NV

 

 

Registered Office :

Hoveniersstraat  2-8-Bus  539, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

24.01.1983

 

 

Com. Reg. No.:

423797948

 

 

Legal Form :

Public  limited  company

 

 

Line of Business :

Wholesale  of  diamonds  and other  precious  stones

 

 

No. of Employees :

2

 

 

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

423797948

Branche  Unit  Number

2022043192

Company  name

GEMMATA  NV

Address

HOVENIERSSTRAAT  2-8-BUS  539

 

2018 ANTWERPEN

Date  of  establishment

24/01/1983

Telephone  number

3232338757

Mobile  number

-

Fax  number

032329822

Liable  for  VAT

yes

VAT  Number

BE.0423.797.948  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  35  years  ago. The  business  has  2  employees.

The  business  is  part  of  a  group.

The  business  has  been  at  the  address  for  over  9  months.

The  credit  rating  for  this  business  has  increased  from  87  to  88.

The  credit  limit  for  this  business  has  increased  from  €350000  to  €415000.

Pre-tax  profits  increased  by  1881%  compared  to  the  previous  trading  period.

The  business  saw  a  decrease  in  their  Cash  Balance  of  69%  during  the  latest  trading  period. Turnover  in  the  latest  trading  period  decreased  51%  on  the  previous  trading  period.

 

Annual  accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

13,840,675

301,349

3,291,120

3,125,280

31/12/2015

28,581,593

15,206

3,021,618

2,844,731

31/12/2014

33,739,120

11,461

3,005,477

2,802,603

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

7,188,348

2

278,880

319,042

31/12/2015

7,109,630

3

278,880

77,891

31/12/2014

7,278,699

3

278,880

-123,651

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

95.44

Industry  average  payment

202.54

Industry  average  day  sales

211.72

expectation  days

 

outstanding

 

Day  sales  outstanding

115.07

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

 

 

PROTESTED  BILLS

Bill  amount

-

 

 

NSSO  DETAILS

Date  of  summons

-

 

 

Company information

 

Business  number

423797948

Company  name

GEMMATA  NV

Fax  number

032329822

Date  founded

24/01/1983

Company  status

active

Company  type

Public  limited  company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2016

Activity  code

46761

Number  of  staff

2

Activity  description

Wholesale  of  diamonds  and other  precious  stones

 

 

Belgian  Bulletin  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

200

Description

Additional  joint  committee  for  the  employees

category

 

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

27/06/2013

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar  27-06-2013:  Herbenoemd  als  bestuurders  voor  een  periode  van  6  jaar  :  Jan  Leemans (als  gedelegeerd  bestuurder),  Stefaan  Leemans  en  Dennis  Leemans.

 

 

Financials

 

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

212,046

-18.41

259,889

-19.28

321,975

46.61

219,608

8.80

201,849

Intangible  fixed  assets

0

-

0

-100

336

-55.90

762

-35.86

1,187

Tangible  fixed  assets

85,921

-35.77

133,764

-31.58

195,514

110

92,721

24.40

74,536

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

9,147

-35.51

14,184

-36.25

22,248

26.14

17,637

-9.13

19,409

Furniture  &  Vehicles

0

-100

5,613

-74.61

22,104

-42.73

38,595

-29.99

55,127

Leasing  &  Other  Similar  Rights

76,773

-32.64

113,968

-24.61

151,162

314

36,489

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

126,125

0

126,125

0

126,125

0

126,125

0

126,125

Total  current  assets

6,976,303

1.85

6,849,741

-1.54

6,956,724

7.57

6,467,330

12.29

5,759,598

Inventories

2,159,918

-29.52

3,064,755

-1.04

3,096,848

50.17

2,062,230

-20.34

2,588,787

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

2,159,918

-29.52

3,064,755

-1.04

3,096,848

50.17

2,062,230

-20.34

2,588,787

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

4,363,536

41.49

3,084,084

2.56

3,007,134

-20.41

3,778,171

46.89

2,572,128

Other  amounts  receivable

370,591

-13.11

426,502

9.75

388,621

346

86,984

4180

2,032

Cash

80,458

-69.81

266,509

-41.26

453,713

90.09

238,687

-13.65

276,403

Miscellaneous  current  assets

1,799

-77.21

7,892

-24.18

10,409

18.86

8,758

-68.44

27,748

Total  Assets

7,188,348

1.11

7,109,630

-2.32

7,278,699

8.85

6,686,937

12.17

5,961,447

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

3,291,120

8.92

3,021,618

0.53

3,005,813

-5.66

3,186,048

1.02

3,153,864

Issued  share  capital

278,880

0

278,880

0

278,880

0

278,880

0

278,880

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

3,012,240

9.83

2,742,738

0.58

2,726,933

-6.20

2,907,168

1.12

2,874,984

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

3,897,228

-4.67

4,088,012

-4.33

4,272,886

22.05

3,500,889

24.69

2,807,583

Other  long  term  loans

46,205

-44.33

83,003

-30.11

118,765

311

28,869

-

0

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

46,205

-44.33

83,003

-30.11

118,765

311

28,869

-

0

Current  portion  of  long  term  debt

36,798

2.90

35,762

2.89

34,757

328

8,106

-

0

Financial  debts

237,169

-

0

-100

317,834

-

0

-

0

Trade  creditors

3,523,797

-10.53

3,938,366

4.13

3,782,252

10.65

3,418,120

22.83

2,782,720

Amounts  Payable  for  Taxes,

52,956

116

24,421

26.68

19,278

-57.90

45,794

84.19

24,862

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

303

-95.31

6,459

-

0

-

0

-

0

Total  current  liabilities

3,851,023

-3.84

4,005,009

-3.59

4,154,121

19.65

3,472,020

23.67

2,807,583

Total  Liabilities

7,188,348

1.11

7,109,630

-2.32

7,278,699

8.85

6,686,937

12.17

5,961,447

 

ratio  analysis

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

2.18

4260

0.05

66.67

0.03

-72.73

0.11

-38.89

0.18

Return  on  capital  employed

9.03

1742

0.49

32.43

0.37

-71.32

1.29

-37.07

2.05

Return  on  total  assets  employed

4.19

1895

0.21

31.25

0.16

-74.19

0.62

-43.12

1.09

Return  on  net  assets  employed

9.16

1732

0.50

31.58

0.38

-70.77

1.30

-36.59

2.05

Sales  /  net  working  capital

4.43

-55.92

10.05

-16.53

12.04

-5.79

12.78

6.68

11.98

Stock  turnover  ratio

15.61

45.62

10.72

16.78

9.18

70.32

5.39

-26.37

7.32

Creditor  days

95.44

87.65

50.86

23.96

41.03

25.44

32.71

13.30

28.87

Debtor  days

115.07

192

39.39

21.09

32.53

-9.69

36.02

35.62

26.56

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.81

5.85

1.71

2.40

1.67

-10.22

1.86

-9.27

2.05

Liquidity  ratio  /  acid  ratio

1.25

31.58

0.95

2.15

0.93

-26.77

1.27

12.39

1.13

Current  debt  ratio

1.17

-12.03

1.33

-3.62

1.38

26.61

1.09

22.47

0.89

Cashflow

319,042

309

77,891

62.99

-123,651

-296

63,013

-16.15

75,154

Net  worth

3,291,120

8.92

3,021,618

0.54

3,005,477

-5.65

3,185,287

1.03

3,152,677

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

9.73

147

3.93

-74.94

15.68

1251

1.16

-

-

Equity  in  percentage

45.78

7.72

42.50

2.91

41.30

-13.33

47.65

-9.94

52.91

Total  debt  ratio

1.18

-12.59

1.35

-4.93

1.42

29.09

1.10

23.60

0.89

Working  capital

3,125,280

9.86

2,844,731

1.50

2,802,603

-6.43

2,995,310

1.47

2,952,015

 

Profit  &  loss

Operating  Income

14,039,371

-51.10

28,711,829

-15.33

33,910,397

-11.84

38,464,567

8.54

35,438,410

Turnover

13,840,675

-51.57

28,581,593

-15.29

33,739,120

-11.88

38,287,749

8.31

35,350,813

Total  operating  expenses

13,476,101

-52.32

28,265,831

-15.98

33,643,353

-11.80

38,144,391

8.42

35,180,779

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

14,039,371

-50.56

28,396,067

-16.02

33,814,631

-11.76

38,321,209

8.66

35,268,376

Employee  costs

76,150

-7.08

81,954

-9.57

90,626

-52.83

192,131

37.92

139,307

Wages  and  salary

62,058

-4.49

64,974

-5.02

68,406

-53.78

147,986

41.26

104,765

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

10,121

-15.24

11,941

-29.92

17,040

-54.01

37,053

28.71

28,788

Other  employee  costs

3,971

-21.19

5,039

-2.71

5,180

-26.97

7,092

23.25

5,754

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

49,540

-20.21

62,085

9.72

56,584

83.55

30,828

35.10

22,818

Operating  result

364,574

15.46

315,762

229

95,767

-33.20

143,358

-15.69

170,034

Total  financial  income

15,597

959

1,473

-21.09

1,866

63.93

1,138

-31.11

1,652

Total  financial  expenses

78,823

-73.90

302,028

250

86,172

-16.42

103,103

-3.61

106,964

Results  on  ordinary  operations before  taxation

301,349

1881

15,206

32.68

11,461

-72.31

41,394

-36.04

64,722

Extraordinary  Income

-

-

1,649

-

-

-

-

-

2,500

Extraordinary  Charges

-

-

-

-

191,101

-

-

-

14,880

Extraordinary  items

-

-

1,649

0.86

-191,101

-

0

0

-12,380

Results  for  the  Year  Before Taxation

301,349

1687

16,856

9.38

-179,640

-533

41,394

-20.92

52,342

Taxation

31,847

2932

1,050

76.42

595

-93.54

9,209

131840

7

Results  on  ordinary  operations after  taxation

269,502

1803

14,156

30.28

10,866

-66.24

32,184

-50.27

64,715

Net  result

269,502

1605

15,805

8.77

-180,235

-660

32,184

-38.50

52,335

Profit  (Loss)  for  the  Year  to  be appropiated

269,502

1605

15,805

8.77

-180,235

-660

32,184

-38.50

52,335

 

 

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

3

Total  Fte  Employees

2

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

3,965

Total

3,965

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

76,150

Total

76,150

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

3

Actual  working  hours

4,381

Personnel  Charges

81,954

Benefits  In  Addition  To  Wages

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

3

2

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

 

 

 

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

-

3

2

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

-

3

2

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

-

1

1

 

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

95.44

Day  sales  outstanding

115.07

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

202.54

expectation  days

 

Industry  average  day  sales

211.72

outstanding

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

95.44

Lower

132.04

Median

58.79

Upper

25.65

 

Day  sales  outstanding

 

Company  result

115.07

Lower

136.36

Median

81.74

Upper

44.49

 

 

 

 

 

 

Shareholder Details

 

Summary

 

Group  -  Number  of  Companies

2

Linkages  -  Number  of  Companies

2

Number  of  Countries

2

 

Group  Structure

 

 

Company  name

Number

Latest

 

 

financials

- GEMMATA  NV

423797948

31-12-2016

- - APHRODIAMANTE  GMBH

HRB  14218  P

31-12-2016

 

 

Minority Shareholders

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

No  minority  shareholders  found                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

 

Minority  Interests

 

 

 

Business

Company  name

%

Date  of

number

 

 

accounts

-

DIAMOND  TECHNOLOGIES

29

-

464008408

MOMA  NV

13

31/07/2017

 

 

Linked  Companies

 

Summary

 

Group  -  Number  of  Companies

2

Linkages  -  Number  of  Companies

2

Number  of  Countries

2

 

Linked  Companies

 

 

 

NAME

NUMBER

LATEST  KEY

TURNOVER

 

 

FINANCIALS

 

MOMA  NV

464008408

31.07.2017

-

ILJIN  EUROPE  GMBH

HRB  88277

31.12.2016

-

 

 

 

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

Director

Start  Date

01/04/2014

Date  of  birth

15/07/1968

Street

47 AVENUE  DE  L'ECUYER  WATERLOO

Post  code

1410

Country

Belgium

Name

Vincent  Loos

Name

Stefan  Leemans

Position

Director

Start  Date

01/01/2005

Street

12 LEOPOLD  GILISLAAN  ANTWERPEN

Post  code

2100

Country

Belgium

Former  director  details

 

Name

Monique  Desmet

Position

Director

Start  Date

01/01/2011

End  Date

01/01/2011

Street

 

Post  code

 

Country

United  Arab  Emirates

Former  mandates  in  other  companies

 

Name

GEMFOOT  NV

Business  number

448189092

Position

Director

Start  Date

31/08/1997

End  Date

27/02/2001

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

Euro

1

INR 80.52

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

KET

                                                


 

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.