MIRA INFORM REPORT

Report No. :	489111
Report Date :	01.02.2018

IDENTIFICATION DETAILS

Name :	BLUE FOOT MEMBRANES NV
Registered Office :	Gerard Mercatorstraat 31, 3920 Lommel
Country :	Belgium
Date of Incorporation :	05.07.2017
Com. Reg. No.:	678595073
Legal Form :	Public  Limited  Company
Line of Business :	Other Professional, Scientific and Technical Activities
No. of Employees :	Not Available

RATING & COMMENTS

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

MIRA’s Rating :

NB

Credit Rating	Explanation	Rating Comments
NB	New Business	No recommendation can be done due to business in infancy stage

Status :	New Business
Payment Behaviour :	Unknown
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 (30.06.2017)	Current Rating (30.09.2017)
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 678595073

Branche Unit Number 2266880397

Company name BLUE FOOT MEMBRANES NV

Address GERARD MERCATORSTRAAT 31

3920 LOMMEL

Date of establishment 05/07/2017

Telephone number -

Mobile number -

Fax number -

Liable for VAT Yes

VAT Number BE.0678.595.073 Check VAT number

Commentary

The business was established over 6 months ago.

Newly established businesses are proven to be more of an insolvency risk than more established businesses.

No employees are recorded for this business.

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

Annual accounts

No key Financials Registered

Payment expectations
Past payments		Payment expectation days	--
Industry average payment expectation days	93.78	Industry average day sales outstanding	919.41
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	678595073	Company  Name	BLUE  FOOT  MEMBRANES
			NV
Fax  Number	-	Date  Founded	05/07/2017
Company  Status	active	Company  type	Public  Limited  Company
Currency	Euro  (€)	Date  of  Latest  Accounts	-
Activity  Code	74909
Activity  Description	Other professional, scientific and technical activities
Belgian Bullettin of Acts Publications	Moniteur Belge

Joint Industrial Committee (JIC)

Significant Events

Event Date 05/07/2017

Event Description Legal creation

Company accounts

Annual Accounts

There is no data for this company

Industry comparison
Activity code	74909
Activity description	Other professional, scientific and technical activities

Industry comparison
Activity code	74909
Activity description	Other professional, scientific and technical activities
Industry average payment expectation days	93.78
Industry average day sales outstanding	919.41
Industry quartile analysis
Payment expectations
Company result	-
Lower	88.60
Median	32.40
Upper	12.26
Day sales outstanding
Company result	-
Lower	124.12
Median	72.66
Upper	30.66

Shareholder details

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

No companies match this address

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	05/07/2017
Name	Joost  Wille
Name	VLAAMSE  INSTELLING  VOOR  TECHNOLOGISCH  ONDERZOEK
Position	Director
Start  Date	05/07/2017
Name	TDH  BEHEER  B.V.  BO
Position	Director
Start  Date	05/07/2017
Name	QBIC  VENTURE  PARTNERS  II  NV
Position	Director
Start  Date	05/07/2017
Name	MARMEDUM  BVBA
Position	Director
Start  Date	05/07/2017
Position	Person  responsible  for  day-to-day  management
Start  Date	17/07/2017
Name	LRM  BEHEER  NV
Position	Director
Start  Date	05/07/2017
Name	ROEL  SLOTMAN
Position	Permanent  representative  legal  entity
Start  Date	05/07/2017
Name	Patrick  Vanschoubroek
Position	Permanent  representative  legal  entity
Start  Date	05/07/2017
Name	Roeland  Engelen
Position	Permanent  representative  legal  entity
Start  Date	05/07/2017
Name	Walter  Eevers
Position	Permanent  representative  legal  entity
Start  Date	05/07/2017
Name	Sofie  Baeten
Position	Permanent  representative  legal  entity
Start  Date	05/07/2017

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.69
UK Pound	1	INR 90.35
Euro	1	INR 79.21
Euro	1	INR 78.95

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

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	TPT

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.