3decades

MIRA INFORM REPORT

Report No. :	489396
Report Date :	01.02.2018

IDENTIFICATION DETAILS

Name :	DIAGEM BVBA

Registered Office :	Hoveniersstraat 30-Bus 170, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2016

Date of Incorporation :	19.07.1985

Com. Reg. No.:	427517996

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. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good

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

(30.06.2017)

Current Rating

(30.09.2017)

Belgium

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	427517996
Branche Unit Number	2027537847
Company name	DIAGEM BVBA
Address	HOVENIERSSTRAAT 30-BUS 170
	2018 ANTWERPEN
Date of establishment	19/07/1985
Telephone number	3232343607
Mobile number	-
Fax number	032253124
Liable for VAT	yes
VAT Number	BE.0427.517.996 Check VAT number

Commentary

The business was established over 32 years ago.

No employees are recorded for this business.

The business has been at the address for over 20 years.

A 43% growth in Total Assets occurred during the latest trading period.

The business saw a decrease in their Cash Balance of 96% during the latest trading perid.

Annual accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2016	11,904,744	116,160	2,111,947	3,440,867
31/12/2015	13,736,735	102,762	2,022,220	3,340,740
31/12/2014	27,199,682	138,203	1,946,912	3,257,245
Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2016	6,728,010	-	18,592	110,229
31/12/2015	4,695,224	-	18,592	93,347
31/12/2014	9,263,927	-	18,592	114,162

Payment expectations

Past payments		Payment expectation days	57.96
Industry average payment	200.93	Industry average day sales	212.08
expectation days		outstanding
Day sales outstanding	186.45

Court data summary

BANKRUPTCY DETAILS

Court action type

PROTESTED BILLS

Bill amount	-
NSSO DETAILS
Date of summons	-

Financials

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	194,738	-9.39	214,910	13.31	189,667	-0.23	190,112	-5.28	200,700
Intangible fixed assets	0	-	0	-	0	-	0	-	0
Tangible fixed assets	193,218	-9.45	213,390	13.42	188,147	-0.24	188,592	-5.32	199,180
Land & building	156,483	-5.52	165,623	-5.23	174,763	-4.97	183,903	-4.73	193,043
Plant & machinery	1,343	-25.88	1,812	-44.67	3,275	-30.18	4,690	-23.59	6,137
Furniture & Vehicles	35,392	-22.98	45,955	354	10,110	-	0	-	0
Leasing & Other Similar Rights	0	-	0	-	0	-	0	-	0
Other tangible assets	0	-	0	-	0	-	0	-	0
Financial fixed assets	1,520	0	1,520	0	1,520	0	1,520	0	1,520
Total current assets	6,533,272	45.82	4,480,314	-50.63	9,074,260	1.80	8,913,923	-21.46	11,350,158
Inventories	406,428	90.11	213,783	-75.77	882,400	-59.15	2,160,050	-1.40	2,190,735
Raw materials & consumables	0	-	0	-	0	-	0	-	0
Work in progress	0	-	0	-	0	-	0	-	0
Finished goods	406,428	90.11	213,783	-75.77	882,400	-59.15	2,160,050	-1.40	2,190,735
Other stocks	0	-	0	-	0	-	0	-	0
Trade debtors	6,081,162	92.47	3,159,474	-60.90	8,081,304	19.99	6,734,815	-26.37	9,146,918
Other amounts receivable	4,732	7.89	4,386	6.51	4,118	-9.82	4,567	25.75	3,631
Cash	39,262	-96.43	1,101,265	966	103,223	846	10,911	150	4,363
Miscellaneous current assets	1,688	20.00	1,406	-56.25	3,215	-10.24	3,582	-20.59	4,510
Total Assets	6,728,010	43.29	4,695,224	-49.32	9,263,927	1.76	9,104,036	-21.18	11,550,858
Liabilities
Total shareholders equity	2,111,947	4.44	2,022,220	3.87	1,946,912	5.59	1,843,905	6.16	1,736,920
Issued share capital	18,592	0	18,592	0	18,592	0	18,592	0	18,592
Share premium account	0	-	0	-	0	-	0	-	0
Revaluation reserve	0	-	0	-	0	-	0	-	0
Reserves	2,093,355	4.48	2,003,628	3.91	1,928,320	5.64	1,825,313	6.23	1,718,328
Provisions for Liabilities & Charges	0	-	0	-	0	-	0	-	0
Deffered taxes	0	-	0	-	0	-	0	-	0
Creditors	4,616,063	72.69	2,673,004	-63.47	7,317,015	0.78	7,260,130	-26.02	9,813,938
Other long term loans	1,523,658	-0.64	1,533,430	2.23	1,500,000	0	1,500,000	66.67	900,000
Other long term liabilities	0	-	0	-	0	-	0	-	0
Total long term debts	1,523,658	-0.64	1,533,430	2.23	1,500,000	0	1,500,000	66.67	900,000
Current portion of long term debt	9,772	4.64	9,339	-	0	-	0	-	0
Financial debts	1,041,586	903	103,771	-95.64	2,377,597	-36.63	3,751,881	-12.59	4,292,289
Trade creditors	1,868,485	115	865,676	-73.49	3,265,408	76.07	1,854,558	-53.55	3,992,646
Amounts Payable for Taxes,	10,600	-29.33	15,000	-41.87	25,805	72.03	15,000	-70.36	50,612
Remuneration & Social Security
Miscellaneous current liabilities	161,962	11.09	145,787	-1.63	148,206	6.86	138,691	-76.02	578,392
Total current liabilities	3,092,406	171	1,139,574	-80.41	5,817,015	0.99	5,760,130	-35.38	8,913,938
Total Liabilities	6,728,010	43.29	4,695,224	-49.32	9,263,927	1.76	9,104,036	-21.18	11,550,858
ratio analysis
TRADING PERFORMANCE
Profit Before Tax	0.98	30.67	0.75	47.06	0.51	-12.07	0.58	-13.43	0.67
Return on capital employed	3.20	10.73	2.89	-27.93	4.01	-10.69	4.49	-35.30	6.94
Return on total assets employed	1.73	-21.00	2.19	46.98	1.49	-9.70	1.65	4.43	1.58
Return on net assets employed	5.50	8.27	5.08	-28.45	7.10	-12.78	8.14	-22.70	10.53
Sales / net working capital	3.46	-15.82	4.11	-50.78	8.35	1.71	8.21	-27.22	11.28
Stock turnover ratio	3.41	118	1.56	-51.85	3.24	-61.20	8.35	4.77	7.97
Creditor days	57.96	153	22.86	-48.01	43.97	65.18	26.62	-50.61	53.90
Debtor days	186.45	122	83.95	-22.59	108.45	14.19	94.97	-21.85	121.52
SHORT TERM STABILITY
Current ratio	2.11	-46.31	3.93	151	1.56	0.65	1.55	22.05	1.27
Liquidity ratio / acid ratio	1.98	-47.06	3.74	165	1.41	20.51	1.17	13.59	1.03
Current debt ratio	1.46	160	0.56	-81.27	2.99	-4.17	3.12	-39.18	5.13
Cashflow	110,229	18.08	93,347	-18.23	114,162	-3.42	118,207	-14.77	138,691
Net worth	2,111,947	4.44	2,022,220	3.87	1,946,912	5.59	1,843,905	6.16	1,736,920
LONG TERM STABILITY
Gearing	121.93	49.75	81.42	-59.12	199.17	-30.07	284.82	-4.72	298.94
Equity in percentage	31.39	-27.12	43.07	104	21.02	3.80	20.25	34.64	15.04
Total debt ratio	2.19	65.91	1.32	-64.89	3.76	-4.57	3.94	-30.27	5.65
Working capital	3,440,867	3.00	3,340,740	2.56	3,257,245	3.28	3,153,793	29.45	2,436,220

Profit & loss
Operating Income	11,904,744	-13.34	13,736,735	-49.50	27,199,682	5.09	25,883,130	-5.79	27,473,944
Turnover	11,904,744	-13.34	13,736,735	-49.50	27,199,682	5.09	25,883,130	-5.79	27,473,944
Total operating expenses	11,767,069	-14.86	13,821,184	-49.01	27,108,141	6.61	25,427,751	-5.95	27,037,060
Gross Operating Margin	-	-	-	-	-	-	-	-	-
Operating Charges	11,904,744	-13.87	13,821,184	-49.01	27,108,141	6.61	25,427,751	-5.95	27,037,060
Employee costs	-	-	-	-	-	-	-	-	-
Wages and salary	-	-	-	-	-	-	-	-	-
Employee pension costs	-	-	-	-	-	-	-	-	-
Social security contributions	-	-	-	-	-	-	-	-	-
Other employee costs	-	-	-	-	-	-	0	-	0
Director remuneration	-	-	-	-	-	-	-	-	-
Amortization and depreciation	20,501	13.65	18,039	61.71	11,155	-0.59	11,221	1.24	11,084
Operating result	137,674	163	-84,449	-192	91,541	-79.90	455,379	4.23	436,883
Total financial income	87,995	-74.13	340,105	2.30	332,464	361431	92	-99	38,091
Total financial expenses	109,509	-28.38	152,895	-46.50	285,803	-6.39	305,328	4.56	292,005
Results on ordinary operations before taxation	116,160	13.04	102,762	-25.64	138,203	-7.95	150,143	-17.94	182,969
Extraordinary Income	-	-	-	-	3,719	-	-	-	-
Extraordinary Charges	-	-	-	-	-	-	-	-	-
Extraordinary items	-	-	-	-	3,719	-	0	-	0
Results for the Year Before Taxation	116,160	13.04	102,762	-27.59	141,922	-5.48	150,143	-17.94	182,969
Taxation	26,433	-3.72	27,454	-29.45	38,915	-9.83	43,157	-22.04	55,362
Results on ordinary operations after taxation	89,727	19.15	75,308	-24.15	99,288	-7.20	106,986	-16.16	127,607
Net result	89,727	19.15	75,308	-26.89	103,007	-3.72	106,986	-16.16	127,607
Profit (Loss) for the Year to be appropiated	89,727	19.15	75,308	-26.89	103,007	-3.72	106,986	-16.16	127,607

Payment Information

Payment Information Summary
Total number of Invoices available	2
Total number of Invoices paid within or up to 30 days after the due date	0
Total number of Invoices paid more than 30 days after the due date	2
Total number of Invoices currently outstanding where the due date has not yet been reached	0
Total number of Invoices currently outstanding beyond the due date	0

Suspension of payments / moratorium history
Amount	-
Details	-

Payment expectations
Payment expectation days	57.96
Day sales outstanding	186.45

Industry comparison
Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	200.93
Industry average day sales outstanding	212.08

Industry quartile analysis

Payment expectations

Company result	57.96
Lower	131.18
Median	58.79
Upper	26.55

Day sales outstanding
Company result	186.45
Lower	134.36
Median	82.06
Upper	44.92

Shareholder Details

Summary
Group - Number of Companies	0
Linkages - Number of Companies	0
Number of Countries	0

Day sales outstanding
Company result	186.45
Lower	134.36
Median	82.06
Upper	44.92

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

no Companies Match this address

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	01/07/1995
Street	22 Quinten Matsijslei Antwerpen
Post code	2018
Country	Belgium
Name	Nilesh Patel

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 79.69

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

INFORMATION DETAILS

Analysis Done by :	NIS

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.

Registered contractor	-
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Date struck off register
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Joint Industrial Committee (JIC)
Company accounts

MIRA INFORM REPORT

Company summary

Company information

Financials

Payment Information

Shareholder Details

Shareholder Details

Linked Companies

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