MIRA INFORM REPORT

 

 

Report No. :

506483

Report Date :

30.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

SHWEDIAM  BVBA

 

 

Registered Office :

Hoveniersstraat  30 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

11.04.1989

 

 

Com. Reg. No.:

437233141

 

 

Legal Form :

Private  limited  liability company

 

 

Line of Business :

Wholesale of diamonds and other precious stones

 

 

No. of Employees :

1

 

 

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 :

Good

 

 

Payment Behaviour :

No Complaints 

 

 

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

437233141

Branche  Unit  Number

2043190182

Company  name

SHWEDIAM  BVBA

Address

HOVENIERSSTRAAT  30

2018 ANTWERPEN

Date  of  establishment

11/04/1989

Telephone  number

3232268145

Mobile  number

32475608118

Fax  number

032268148

Liable  for  VAT

yes

VAT  Number

BE.0437.233.141  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  29  years  ago.

The  business  has  1  employees.

The  business  has  been  at  the  address  for  over  14  years.

Operating  Result  in  the  latest  trading  period  increased  275%  on  the  previous  trading  period.

Net  Worth  increased  by  25%  during  the  latest  trading  period.

Pre-tax  profits  increased  by  944%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  29%  during  the  latest  trading  period.

 

 

Annual  accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

12,953,174

176,301

740,331

1,223,487

31/12/2015

11,490,822

16,872

591,008

1,099,598

31/12/2014

8,885,029

15,690

579,069

1,657,446

 

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

8,117,938

1

431,847

156,389

31/12/2015

6,958,310

1

431,847

19,846

31/12/2014

6,490,398

-

431,847

21,176

 

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

183.57

Industry  average  payment

202.54

Industry  average  day  sales

211.72

expectation  days

 

outstanding

 

Day  sales  outstanding

100.44

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

 

PROTESTED  BILLS

Bill  amount

-

 

NSSO  DETAILS

Date  of  summons

-

 

 

Company  information

 

Business  number

437233141

Company  name

SHWEDIAM  BVBA

Fax  number

032268148

Date  founded

11/04/1989

Company  status

active

Company  type

Private  limited  liability

company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2016

Activity  code

46761

Number  of  staff

1

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)

 

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

 

 

 

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

85,594

-8.12

93,159

-7.37

100,566

-8.83

110,312

-4.85

115,939

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

85,594

-7.63

92,659

-7.86

100,566

-8.83

110,312

-4.85

115,939

Land  &  building

84,386

-5.56

89,350

-5.26

94,314

-5.00

99,278

-4.76

104,242

Plant  &  machinery

406

-69.61

1,335

-52.18

2,791

-42.40

4,846

29.40

3,745

Furniture  &  Vehicles

802

-59.38

1,975

-42.94

3,461

-44.07

6,189

-22.18

7,952

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

0

-100

500

-

0

-

0

-

0

Total  current  assets

8,032,344

17.00

6,865,150

7.44

6,389,832

31.38

4,863,754

21.49

4,003,397

Inventories

4,330,130

17.57

3,683,147

-3.59

3,820,372

42.17

2,687,179

1.20

2,655,273

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

4,330,130

17.57

3,683,147

-3.59

3,820,372

-

0

-100

2,655,273

Other  stocks

0

-

0

-

0

-100

2,687,179

-

0

Trade  debtors

3,564,471

16.04

3,071,633

24.07

2,475,667

15.53

2,142,790

66.34

1,288,185

Other  amounts  receivable

2,642

-25.01

3,523

-89.68

34,131

170

12,595

310

3,067

Cash

125,906

29.33

97,350

95.88

49,699

326

11,657

-75.60

47,770

Miscellaneous  current  assets

9,194

-3.19

9,497

-4.66

9,962

4.51

9,532

4.73

9,102

Total  Assets

8,117,938

16.67

6,958,310

7.21

6,490,398

30.48

4,974,067

20.75

4,119,336

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

740,331

25.27

591,008

2.06

579,069

2.01

567,639

2.59

553,311

Issued  share  capital

431,847

0

431,847

0

431,847

2221

18,600

0

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

308,484

93.82

159,160

8.11

147,221

-73.19

549,039

2.68

534,711

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

7,377,606

15.87

6,367,302

7.71

5,911,329

34.15

4,406,428

23.57

3,566,024

Other  long  term  loans

518,750

-13.79

601,750

-12.12

684,750

-

0

-

0

Other  long  term  liabilities

50,000

-

0

-100

494,193

13.59

435,066

-4.33

454,752

Total  long  term  debts

568,750

-5.48

601,750

-48.96

1,178,943

170

435,066

-4.33

454,752

Current  portion  of  long  term  debt

83,000

0

83,000

0

83,000

-

0

-

0

Financial  debts

0

-

0

-

0

-100

1,301,391

9.40

1,189,579

Trade  creditors

6,405,886

21.71

5,263,312

13.35

4,643,566

75.37

2,647,917

40.29

1,887,527

Amounts  Payable  for  Taxes,

33,310

120

15,094

168

5,628

-57.68

13,299

-16.99

16,020

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

286,661

-29.07

404,146

211107

191

-97.81

8,755

-51.75

18,147

Total  current  liabilities

6,808,856

18.10

5,765,552

21.83

4,732,386

19.16

3,971,362

27.64

3,111,272

Total  Liabilities

8,117,938

16.67

6,958,310

7.21

6,490,398

30.48

4,974,067

20.75

4,119,336

 

 

Ratio  analysis

                                                                                                                                                           

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

1.36

806

0.15

-16.67

0.18

-

-

-

0.06

Return  on  capital  employed

13.47

855

1.41

58.43

0.89

-57.82

2.11

348

0.47

Return  on  total  assets  employed

2.17

804

0.24

0

0.24

-44.19

0.43

290

0.11

Return  on  net  assets  employed

23.81

735

2.85

5.17

2.71

-27.35

3.73

338

0.85

Sales  /  net  working  capital

10.59

1.34

10.45

94.96

5.36

-

-

-

8.78

Stock  turnover  ratio

33.43

4.31

32.05

-25.47

43.00

-

-

-

33.89

Creditor  days

183.57

9.25

168.03

-12.59

192.23

-

-

-

89.18

Debtor  days

100.44

2.94

97.57

-4.06

101.70

-

-

-

60.01

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.18

-0.84

1.19

-11.85

1.35

10.66

1.22

-5.43

1.29

Liquidity  ratio  /  acid  ratio

0.54

-1.82

0.55

1.85

0.54

-1.82

0.55

27.91

0.43

Current  debt  ratio

9.20

-5.74

9.76

19.46

8.17

16.71

7.00

24.56

5.62

Cashflow

156,389

688

19,846

-6.28

21,176

-16.16

25,258

18.34

21,344

Net  worth

740,331

25.27

591,008

2.06

579,069

2.01

567,639

2.59

553,311

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

81.28

-29.85

115.86

-12.61

132.58

-42.17

229.26

6.64

214.99

Equity  in  percentage

9.12

7.42

8.49

-4.82

8.92

-21.82

11.41

-15.04

13.43

Total  debt  ratio

9.97

-7.43

10.77

5.48

10.21

31.57

7.76

20.50

6.44

Working  capital

1,223,487

11.27

1,099,598

-33.66

1,657,446

85.73

892,392

0.03

892,125

 

 

Profit  &  loss        

                                                                                                                                           

Operating  Income

12,953,724

12.73

11,491,368

29.33

8,885,401

-

-

-

7,835,774

Turnover

12,953,174

12.73

11,490,822

29.33

8,885,029

-

-

-

7,835,045

Total  operating  expenses

12,737,412

11.41

11,433,429

29.67

8,817,271

-

-

-

7,725,087

Gross  Operating  Margin

-

-

-

-

-

-

113,812

-

-

Operating  Charges

12,953,724

13.29

11,433,974

29.67

8,817,643

-

-

-

7,725,817

Employee  costs

27,013

25.14

21,586

-

-

-

-

-

-

Wages  and  salary

26,435

25.85

21,006

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

157

-37.00

249

-

-

-

-

-

-

Other  employee  costs

421

27.03

331

-

-

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

7,066

-10.64

7,907

-18.87

9,746

-10.84

10,931

-1.92

11,145

Operating  result

215,762

275

57,394

-15.30

67,758

-31.82

99,385

-9.61

109,957

Total  financial  income

1

-94.09

9

-99

1,487

-88.47

12,898

23131

56

Total  financial  expenses

39,462

-2.64

40,531

-24.32

53,555

-41.21

91,094

-13.49

105,294

Results  on  ordinary  operations  before

176,301

944

16,872

7.53

15,690

-25.95

21,189

349

4,718

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

1,433

41.76

1,011

-

-

-

-

-

9,717

Extraordinary  Charges

-

-

-

-

-

-

679

37.06

496

Extraordinary  items

1,433

41.76

1,011

-

-

-

-679

-107

9,222

Results  for  the  Year  Before  Taxation

177,734

893

17,883

13.98

15,690

-23.50

20,510

47.13

13,940

Taxation

28,411

377

5,944

39.52

4,260

-31.10

6,183

65.27

3,741

Results  on  ordinary  operations  after

147,890

1253

10,928

-4.39

11,430

-23.83

15,007

1435

977

taxation

 

 

 

 

 

 

 

 

 

Net  result

149,323

1150

11,939

4.45

11,430

-20.22

14,327

40.48

10,199

Profit  (Loss)  for  the  Year  to  be appropiated

149,323

1150

11,939

4.45

11,430

-20.22

14,327

40.48

10,199

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

1

Part-time  Employees

-

Total  Fte  Employees

1

Number  of  hours  worked

 

Full-time  Employees

1,770

Part-time  Employees

-

Total

1,770

Personnel  Charges

 

Full-time  Employees

27,013

Part-time  Employees

-

Total

27,013

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

1,462

Personnel  Charges

21,586

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

1

-

1

Secondairy  education

-

-

-

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

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

183.57

Day  sales  outstanding

100.44

 

Industry  comparison           

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment expectation  days

202.54

Industry  average  day  sales outstanding

211.72

 

 

Industry  quartile  analysis

Payment  expectations

Company  result

183.57

Lower

132.04

Median

58.79

Upper

25.65

 

 

Day  sales  outstanding

 

Company  result

100.44

Lower

136.36

Median

81.74

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

28/06/1989

Street

19 EEKHOORNLAAN  Wilrijk  (Antwerpen)

Post  code

2610

Country

Belgium

Name

Shaileshkumar  Shah

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

Euro

1

INR 80.47

                                                                  

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.