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MIRA INFORM REPORT
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Report No. : |
490597 |
|
Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
DESIRE DIAMOND BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 155 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
06.05.2014 |
|
|
|
|
Com. Reg. No.: |
552876838 |
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|
|
|
Legal Form : |
Private limited liability company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
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|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
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 |
552876838 |
|
Branche Unit Number |
2230634170 |
|
Company name |
DESIRE DIAMOND BVBA |
|
Address |
HOVENIERSSTRAAT 30-BUS 155 |
|
|
2018 ANTWERPEN |
|
Date of establishment |
06/05/2014 |
|
Telephone number |
3232270512 |
|
Mobile number |
- |
|
Fax number |
- |
|
Liable for VAT |
yes |
|
VAT Number |
BE.0552.876.838 Check VAT number |
Ultimate
holding company
|
Company name |
Company Number |
|
- |
- |
Commentary
The business was established over
3 years ago.
No employees are recorded for
this business.
The business has been at the
address for over 3 years.
There has been no significant
change in the business's credit limit.
Operating Result in the latest
trading period increased 414% on the
previous trading period.
Net Worth increased by 222%
during the latest trading period.
A 65% growth in Total Assets
occurred during the latest trading period.
Pre-tax profits increased by 654%
compared to the previous trading period.
The business saw an increase
in their Cash Balance of 75% during
the latest trading period.
Annual
accounts
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET
WORTH |
WORKING
CAPITAL |
|
31/12/2016 |
|
194,640 |
175,481 |
649,819 |
|
31/12/2015 |
|
25,812 |
54,362 |
54,362 |
|
Accounts |
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2016 |
1,400,717 |
- |
37,100 |
171,399 |
|
31/12/2015 |
- |
- |
37,100 |
17,262 |
Payment expectations
|
Past payments |
|
Payment expectation days |
- |
|
Industry average payment |
200.93 |
Industry average day sales |
212.08 |
|
expectation days |
|
outstanding |
|
|
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 |
552876838 |
Company name |
DESIRE DIAMOND BVBA |
|
Fax number |
- |
Date founded |
06/05/2014 |
|
Company status |
active |
Company type |
Private limited liability company |
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|
|
|
|
|
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 |
|
Weeks |
52 |
|
86 |
|
Currency |
EUR |
|
EUR |
|
Total fixed assets |
0 |
- |
0 |
|
Intangible fixed assets |
0 |
- |
0 |
|
Tangible fixed assets |
0 |
- |
0 |
|
Land & building |
0 |
- |
0 |
|
Plant & machinery |
0 |
- |
0 |
|
Furniture & Vehicles |
0 |
- |
0 |
|
Leasing & Other Similar Rights |
0 |
- |
0 |
|
Other tangible assets |
0 |
- |
0 |
|
Financial fixed assets |
0 |
- |
0 |
|
Total current assets |
1,400,717 |
65.92 |
844,194 |
|
Inventories |
292,756 |
1198 |
22,538 |
|
Raw materials & consumables |
0 |
- |
0 |
|
Work in progress |
0 |
- |
0 |
|
Finished goods |
0 |
- |
0 |
|
Other stocks |
292,756 |
1198 |
22,538 |
|
Trade debtors |
594,618 |
12.51 |
528,520 |
|
Other amounts receivable |
2,367 |
147 |
954 |
|
Cash |
508,748 |
75.43 |
289,997 |
|
Miscellaneous current assets |
2,228 |
2.00 |
2,185 |
|
Total Assets |
1,400,717 |
65.92 |
844,194 |
|
Liabilities |
|
|
|
|
Total shareholders equity |
175,481 |
222 |
54,362 |
|
Issued share capital |
37,100 |
0 |
37,100 |
|
Share premium account |
0 |
- |
0 |
|
Revaluation reserve |
0 |
- |
0 |
|
Reserves |
138,381 |
701 |
17,262 |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
|
Deffered taxes |
0 |
- |
0 |
|
Creditors |
1,225,236 |
55.13 |
789,832 |
|
Other long term loans |
474,338 |
- |
0 |
|
Other long term liabilities |
0 |
- |
0 |
|
Total long term debts |
474,338 |
- |
0 |
|
Current portion of long term debt |
0 |
- |
0 |
|
Financial debts |
0 |
- |
0 |
|
Trade creditors |
297,720 |
-61.88 |
780,945 |
|
Amounts Payable for Taxes,
Remuneration & Social Security |
23,340 |
172 |
8,550 |
|
Miscellaneous current liabilities |
429,838 |
127285 |
337 |
|
Total current liabilities |
750,898 |
-4.93 |
789,832 |
|
Total Liabilities |
1,400,717 |
65.92 |
844,194 |
Ratio analysis
|
TRADING PERFORMANCE |
|
|
|
|
Profit Before Tax |
- |
- |
- |
|
Return on capital employed |
29.95 |
-36.92 |
47.48 |
|
Return on total assets employed |
13.90 |
354 |
3.06 |
|
Return on net assets employed |
110.92 |
133 |
47.48 |
|
Sales / net working capital |
- |
- |
- |
|
Stock turnover ratio |
- |
- |
- |
|
Creditor days |
- |
- |
- |
|
Debtor days |
- |
- |
- |
|
SHORT TERM STABILITY |
|
|
|
|
Current ratio |
1.87 |
74.77 |
1.07 |
|
Liquidity ratio / acid ratio |
1.48 |
42.31 |
1.04 |
|
Current debt ratio |
4.28 |
-70.54 |
14.53 |
|
Cashflow |
171,399 |
892 |
17,262 |
|
Net worth |
175,481 |
222 |
54,362 |
|
LONG TERM STABILITY |
|
|
|
|
Gearing |
270.31 |
- |
- |
|
Equity in percentage |
12.53 |
94.57 |
6.44 |
|
Total debt ratio |
6.98 |
-51.96 |
14.53 |
|
Working capital |
649,819 |
1095 |
54,362 |
Profit & loss
|
Operating Income |
- |
- |
- |
|
Turnover |
- |
- |
- |
|
Total operating expenses |
- |
- |
- |
|
Gross Operating Margin |
205,000 |
376 |
43,025 |
|
Operating Charges |
0 |
- |
- |
|
Employee costs |
- |
- |
- |
|
Wages and salary |
- |
- |
- |
|
Employee pension costs |
- |
- |
- |
|
Social security contributions |
- |
- |
- |
|
Other employee costs |
- |
- |
- |
|
Director remuneration |
- |
- |
- |
|
Amortization and depreciation |
- |
- |
- |
|
Operating result |
203,954 |
414 |
39,609 |
|
Total financial income |
35 |
-27.85 |
49 |
|
Total financial expenses |
9,349 |
-32.48 |
13,846 |
|
Results on ordinary operations
before taxation |
194,640 |
654 |
25,812 |
|
Extraordinary Income |
- |
- |
- |
|
Extraordinary Charges |
- |
- |
- |
|
Extraordinary items |
- |
- |
- |
|
Results for the Year Before
Taxation |
194,640 |
654 |
25,812 |
|
Taxation |
23,240 |
171 |
8,550 |
|
Results on ordinary operations
after taxation |
171,399 |
892 |
17,262 |
|
Net result |
171,399 |
892 |
17,262 |
|
Profit (Loss) for the Year
to be appropiated |
171,399 |
892 |
17,262 |
|
Dividends |
- |
- |
- |
Social
Balance Sheet Details
Social
Balance Sheet Details
---
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 |
- |
|
Day sales outstanding |
- |
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 |
- |
|
Lower |
131.18 |
|
Median |
58.79 |
|
Upper |
26.55 |
Day sales outstanding
|
Company result |
- |
|
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
Individual
Shareholders
SHAREHOLDER NAME
|
Forename |
Anish |
Middle name |
- |
|
Surname |
Bhansali |
|
|
|
SHAREHOLDER DETAILS |
|
|
|
|
Start date |
30/09/2014(estimated) |
End date |
- |
|
Percentage owned |
75% |
|
|
|
SHAREHOLDER ADDRESS |
|
|
|
|
Street name |
- |
House number |
- |
|
Postal town |
- |
|
|
|
Post code |
- |
Country |
India |
|
SHAREHOLDER NAME |
|
|
|
|
Forename |
Swapnil |
Middle name |
- |
|
Surname |
Bhansali |
|
|
|
SHAREHOLDER DETAILS |
|
|
|
|
Start date |
30/09/2014(estimated) |
End date |
- |
|
Percentage owned |
25% |
|
|
|
SHAREHOLDER ADDRESS |
|
|
|
|
Street name |
- |
House number |
- |
|
Postal town |
- |
|
|
|
Post code |
- |
Country |
India |
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 |
01/04/2017 |
|
Street |
84 Belgiëlei Antwerpen |
|
Post code |
2018 |
|
Country |
Belgium |
|
Name |
Swapnil Bhansali |
Former director details
|
Name |
Sanjiv Mehta |
|
Position |
Manager |
|
Start Date |
06/05/2014 |
|
End Date |
31/03/2017 |
|
Street |
24 FERDINAND VERBIESTLAAN EDEGEM |
|
Post code |
2650 |
|
Country |
Belgium |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.27 |
|
|
1 |
INR 89.72 |
|
Euro |
1 |
INR 79.52 |
|
Euro |
1 |
INR 79.53 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.