3decades

MIRA INFORM REPORT

Report No. :	491649
Report Date :	10.02.2018

IDENTIFICATION DETAILS

Name :	DIANCO BVBA

Registered Office :	Hoveniersstraat 2-Bus 306, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2014

Date of Incorporation :	20.06.1984

Com. Reg. No.:	425866919

Legal Form :	Private limited liability company

Line of Business :	Wholesale of diamonds and other precious stones

No. of Employees :	5

RATING & COMMENTS

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

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

Payment Behaviour :	Slow

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. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. Belgium is 100% 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.

Belgium’s GDP grew by 1.4% in 2016, unemployment at yearend was 8.4%, and the budget deficit was 2.7% of GDP. The economy largely recovered from the March 2016 terrorist attacks, which 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 107% 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 tax policy, 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.

Source : CIA

Company summary

Business number	425866919
Branche Unit Number	2024899645
Company name	DIANCO BVBA
Address	HOVENIERSSTRAAT 2-BUS 306
	2018 ANTWERPEN
Date of establishment	20/06/1984
Telephone number	-
Mobile number	-
Fax number	032319683
Liable for VAT	yes
VAT Number	BE.0425.866.919 Check VAT number

Commentary

The business was established over 33 years ago.

The business has 5 employees.

The business has been at the address for over 30 years.

Operating Result in the latest trading period increased 47% on the previous trading period.

A 31% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 176% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 60% during the latest trading period.

Annual accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2014	142,978,468	192,367	7,044,696	15,612,852
31/12/2013	139,723,886	69,471	6,906,566	10,227,254
31/12/2012	135,293,396	150,011	6,838,359	11,582,005

Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2014	59,257,401	5	5,269,519	197,217
31/12/2013	45,183,364	5	5,269,519	195,813
31/12/2012	48,469,532	5	5,269,519	183,372

Payment expectations

Past payments		Payment expectation days	48.75
Industry average payment	198.21	Industry average day sales	260.44
expectation days		outstanding
Day sales outstanding	124.20

Court data summary

BANKRUPTCY DETAILS

Court action type no

PROTESTED BILLS

Bill amount -

NSSO DETAILS

Date of summons 17/11/2008

Financials

Company accounts
Assets
Annual accounts	31-12-2014	%	31-12-2013	%	31-12-2012	%	31-12-2011	%	31-12-2010
Weeks	52		52		52		52		52
Currency	EUR		EUR		EUR		EUR		EUR
Total fixed assets	555,173	-8.14	604,383	-8.16	658,088	-6.59	704,490	3.86	678,321
Intangible fixed assets	8,363	-11.72	9,473	-10.49	10,584	-	0	-	0
Tangible fixed assets	546,810	-8.09	594,909	-8.12	647,504	-8.09	704,490	3.86	678,321
Land & building	343,009	-4.47	359,076	-4.28	375,144	-4.11	391,211	-34.53	597,571
Plant & machinery	178,863	-14.61	209,465	-13.31	241,638	-10.85	271,059	556	41,301
Furniture & Vehicles	24,939	-5.42	26,368	-14.17	30,722	-27.23	42,219	7.03	39,448
Leasing & Other Similar Rights	0	-	0	-	0	-	0	-	0
Other tangible assets	0	-	0	-	0	-	0	-100	1
Financial fixed assets	0	-	0	-	0	-	0	-	0
Total current assets	58,702,229	31.68	44,578,981	-6.76	47,811,443	29.49	36,922,474	34.97	27,355,120
Inventories	8,636,228	2.69	8,410,051	-20.66	10,600,481	48.06	7,159,674	77.44	4,034,944
Raw materials & consumables	0	-	0	-	0	-	0	-	0
Work in progress	0	-	0	-	0	-	0	-	0
Finished goods	8,636,228	2.69	8,410,051	-20.66	10,600,481	48.06	7,159,674	77.44	4,034,944
Other stocks	0	-	0	-	0	-	0	-	0
Trade debtors	48,651,142	44.86	33,584,710	-3.34	34,746,542	17.67	29,529,525	29.15	22,865,138
Other amounts receivable	457,732	94.41	235,451	8.78	216,448	29.09	167,670	300	41,819
Cash	925,813	-60.12	2,321,652	4.64	2,218,747	5634	38,689	-90.21	395,091
Miscellaneous current assets	31,313	15.47	27,117	-7.21	29,225	8.58	26,917	48.48	18,128
Total Assets	59,257,401	31.15	45,183,364	-6.78	48,469,532	28.82	37,626,964	34.22	28,033,441
Liabilities
Total shareholders equity	7,053,059	1.98	6,916,040	0.98	6,848,944	1.59	6,741,986	3.00	6,545,605
Issued share capital	5,269,519	0	5,269,519	0	5,269,519	0	5,269,519	0.00	5,269,519
Share premium account	0	-	0	-	0	-	0	-	0
Revaluation reserve	0	-	0	-	0	-	0	-	0
Reserves	1,783,540	8.32	1,646,521	4.25	1,579,425	7.26	1,472,467	15.39	1,276,086
Provisions for Liabilities & Charges	0	-	0	-	0	-	0	-	0
Deffered taxes	0	-	0	-100	35,322	-10.29	39,372	71.20	22,998
Creditors	52,204,343	36.42	38,267,324	-7.98	41,585,267	34.82	30,845,606	43.70	21,464,838
Other long term loans	0	-	0	-	0	-	0	-100	12,768
Other long term liabilities	9,114,966	132	3,915,597	-26.89	5,355,828	22.30	4,379,380	4338	98,669
Total long term debts	9,114,966	132	3,915,597	-27.37	5,391,150	22.01	4,418,752	3186	134,435
Current portion of long term debt	0	-100	4,108,825	-	0	-100	12,768	-35.93	19,928
Financial debts	23,960,463	36.20	17,592,097	-14.38	20,546,396	36.63	15,037,938	51.56	9,921,788
Trade creditors	18,912,539	50.95	12,529,322	-19.70	15,603,819	38.09	11,299,929	11.74	10,112,692
Amounts Payable for Taxes,	50,173	-9.33	55,336	-1.37	56,107	-46.48	104,835	45.60	72,001
Remuneration & Social Security
Miscellaneous current liabilities	166,202	151	66,147	186	23,117	114	10,756	-99	1,226,992
Total current liabilities	43,089,377	25.44	34,351,727	-5.18	36,229,438	36.89	26,466,226	23.94	21,353,401
Total Liabilities	59,257,401	31.15	45,183,364	-6.78	48,469,532	28.82	37,626,964	34.22	28,033,441
Ratio Analysis
TRADING PERFORMANCE
Profit Before Tax	0.13	160	0.05	-54.55	0.11	-21.43	0.14	-33.33	0.21
Return on capital employed	1.19	85.94	0.64	-47.97	1.23	-20.65	1.55	-59.53	3.83
Return on total assets employed	0.32	113	0.15	-51.61	0.31	-32.61	0.46	-49.45	0.91
Return on net assets employed	2.73	173	1.00	-54.34	2.19	-14.45	2.56	-34.53	3.91
Sales / net working capital	9.16	-32.94	13.66	16.95	11.68	-3.31	12.08	-40.52	20.31
Stock turnover ratio	6.04	0.33	6.02	-23.21	7.84	38.27	5.67	71.30	3.31
Creditor days	48.75	47.95	32.95	-22.23	42.37	28.90	32.87	7.70	30.52
Debtor days	124.20	41.57	87.73	-6.41	93.74	9.82	85.36	24.65	68.48
SHORT TERM STABILITY
Current ratio	1.36	4.62	1.30	-1.52	1.32	-5.71	1.40	9.38	1.28
Liquidity ratio / acid ratio	1.16	10.48	1.05	1.94	1.03	-8.04	1.12	2.75	1.09
Current debt ratio	6.11	22.94	4.97	-6.05	5.29	34.61	3.93	20.55	3.26
Cashflow	197,217	0.72	195,813	6.78	183,372	-38.25	296,947	27.03	233,765
Net worth	7,044,696	2.00	6,906,566	1.00	6,838,359	1.43	6,741,986	3.00	6,545,605
LONG TERM STABILITY
Gearing	339.72	8.27	313.78	4.60	299.99	34.38	223.24	46.79	152.08
Equity in percentage	11.90	-22.27	15.31	8.35	14.13	-21.15	17.92	-23.25	23.35
Total debt ratio	7.40	33.82	5.53	-9.05	6.08	32.75	4.58	39.63	3.28
Working capital	15,612,852	52.66	10,227,254	-11.70	11,582,005	10.77	10,456,248	74.22	6,001,719
Profit & loss
Operating Income	142,983,675	2.33	139,728,568	3.27	135,299,146	7.15	126,268,207	3.60	121,880,320
Turnover	142,978,468	2.33	139,723,886	3.27	135,293,396	7.15	126,262,608	3.61	121,866,495
Total operating expenses	141,611,782	2.03	138,797,169	3.27	134,406,578	7.12	125,474,296	3.75	120,938,350
Gross Operating Margin	-	-	-	-	-	-	-	-	-
Operating Charges	141,616,989	2.03	138,801,852	3.27	134,412,329	7.12	125,479,895	3.74	120,952,175
Employee costs	250,262	2.20	244,873	1.05	242,330	11.18	217,968	18.74	183,569
Wages and salary	193,471	2.58	188,605	1.25	186,269	8.93	171,002	21.23	141,050
Employee pension costs	-	-	-	-	-	-	-	-	-
Social security contributions	47,440	2.30	46,372	0.43	46,176	14.39	40,367	16.30	34,709
Other employee costs	9,352	-5.49	9,895	0.11	9,885	49.78	6,599	-15.50	7,810
Director remuneration	189,420	-	-	-	153,697	-	-	-	-
Amortization and depreciation	60,198	0.13	60,121	-12.29	68,548	32.25	51,832	11.15	46,632
Operating result	1,366,686	47.48	926,717	4.50	886,818	12.50	788,312	-15.07	928,145
Total financial income	16,948	123	7,573	1109	626	-91.53	7,391	2268	312
Total financial expenses	1,191,267	37.75	864,818	17.27	737,433	18.34	623,170	-7.32	672,417
Results on ordinary operations before taxation	192,367	176	69,471	-53.69	150,011	-13.05	172,533	-32.61	256,040
Extraordinary Income	-	-	15,413	-	-	-	123,554	-	-
Extraordinary Charges	-	-	-	-	-	-	-	-	-
Extraordinary items	-	-	15,413	-	0	-100	123,554	-	0
Results for the Year Before Taxation	192,367	126	84,884	-43.41	150,011	-49.34	296,088	15.64	256,040
Taxation	55,349	4.22	53,110	12.75	47,104	-43.48	83,333	19.14	69,944
Results on ordinary operations after taxation	137,019	737	16,361	-84.10	102,907	15.37	89,200	-52.07	186,096
Net result	137,019	0.98	135,692	18.17	114,824	-53.16	245,115	30.98	187,133
Profit (Loss) for the Year to	137,019	0.98	135,692	18.17	114,824	-30.00	164,027	-13.28	189,147

Social Balance Sheet Details

Social Balance Sheet	Total
During the reporting year
ended 31-12-2014
Full-time Employees	5
Part-time Employees	-
Total Fte Employees	5
Number of hours worked
Full-time Employees	8,846
Part-time Employees	-
Total	8,846
Personnel Charges
Full-time Employees	250,262
Part-time Employees	-
Total	250,262
Benefits In Addition To Wages	-
During the previous reporting year
Average number employees in Fte	5
Actual working hours	8,584
Personnel Charges	244,873
Benefits In Addition To Wages	-

Type of Contract	Full-Time	Part-Time	Total Fte
Unlimited Duration	4	-	4
Contracts
Limited Duration Contracts	1	-	1
Contracts For Specific Work	-	-	-
Contracts Regarding	-	-	-
Substitution

Gender and Education
Level
Men	Full-Time	Part-Time	Total Fte
Primary education	1	-	1
Secondairy education	2	-	2
Higher education (non	-	-	-
university)
Higher education	-	-	-
(university)
Women	Full-Time	Part-Time	Total Fte
Primary education	-	-	-
Secondairy education	2	-	2
Higher education (non university)	-	-	-
Higher education (university)	-	-	-

Working Category	Full-Time	Part-Time	Total Fte
Management	-	-	-
White collar worker	4	-	4
Blue collar worker	1	-	1
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

Payment Information Summary
Total number of Invoices available	4
Total number of Invoices paid within or up to 30 days after the due date	4
Total number of Invoices paid more than 30 days after the due date	0
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	48.75
Day sales outstanding	124.20

Industry comparison
Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	198.21
Industry average day sales outstanding	260.44

Industry quartile analysis

Payment expectations
Company result	48.75
Lower	125.94
Median	59.82
Upper	27.41

Day sales outstanding
Company result	124.20
Lower	131.10
Median	83.51
Upper	47.16

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

Legal event type	Social Security Summons
Event date	17/11/2008
Court type	Court name	Antwerpen
Creditor's name	3rd party type
Legal event type	Social Security Summons
Event date	20/10/2008
Court type	Court name	Antwerpen
Creditor's name	3rd party type

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	17/01/2013
Street	48 PASTOOR DE CONINCKLAAN ANTWERPEN
Post code	2610
Country	Belgium
Name	Sameep Mehta
Name	Biren Jhaveri
Position	Manager
Start Date	01/04/2009
Street	106 BELGIËLEI ANTWERPEN
Post code	2018
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.37
UK Pound	1	INR 89.71
Euro	1	INR 78.89
Euro	1	INR 78.64

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

INFORMATION DETAILS

Analysis Done by :	PRI

Report Prepared by :	SYL

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	-
number
Contractor description	-
Date struck off register
Personnel (NSSO classification)
Code	-
Description	-
Joint Industrial Committee (JIC)
JIC Code	218
Description	Additional national joint committee for the employees
category
Significant Events
Event Date	23/09/2014
Event Description	resignation-appointment of director(s)
Event Details	Commentaar 31-12-2014: Ontslagen wordt als zaakvoerder de heer Mehta Saumil vanaf 31/12/2014.