MIRA INFORM REPORT

 

 

Report No. :

490901

Report Date :

13.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

RIKHAV BVBA

 

 

Registered Office :

Hoveniersstraat  53-Bus  21 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

14.05.2002

 

 

Com. Reg. No.:

477618694

 

 

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. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

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

(30.06.2017)

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

477618694

Branche  Unit  Number

2101816586

Company  name

RIKHAV  BVBA

Address

HOVENIERSSTRAAT  53-BUS  21

 

2018 ANTWERPEN

Date  of  establishment

14/05/2002

Telephone  number

3232274742

Mobile  number

-

Fax  number

-

Liable  for  VAT

yes

VAT  Number

BE.0477.618.694  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  15  years  ago.

No  employees  are  recorded  for  this  business.

The  business  has  been  at  the  address  for  over  7  years.

Operating  Result  in  the  latest  trading  period  increased  2586%  on  the  previous  trading  period.

Net  Worth  increased  by  43%  during  the  latest  trading  period.

A  27%  growth  in  Total  Assets  occurred  during  the  latest  trading  period.

Pre-tax  profits  increased  by  5908%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  63%  during  the  latest  trading  period.

Turnover  in  the  latest  trading  period  decreased  32%  on  the  previous  trading  period.

 

 

Annual  accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

8,786,907

1,382,363

4,510,593

5,458,949

31/12/2015

13,093,345

23,005

3,143,208

4,057,416

31/12/2014

23,363,262

39,916

3,131,064

3,940,432

 

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

5,826,022

-

2,805,738

1,368,351

31/12/2015

4,578,300

0

2,805,738

21,443

31/12/2014

5,433,955

-

2,805,738

39,994

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

12.49

Industry  average  payment

200.93

Industry  average  day  sales

212.08

expectation  days

 

outstanding

 

Day  sales  outstanding

80.63

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

 

PROTESTED  BILLS

Bill  amount

-

 

NSSO  DETAILS

Date  of  summons

-

 

 

Company  information

 

Business  number

477618694

Company  name

RIKHAV  BVBA

Fax  number

-

Date  founded

14/05/2002

Company  status

active

Company  type

Private  limited  liability

company

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)

 

JIC  Code

200

Description

Additional  joint  committee  for  the  employees

category

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

Significant  Events

 

Event  Date

12/06/2012

Event  Description

resignation-appointment  of  director(s)

Event  Details

Commentaar  12-06-2012:  Bevestiging  van  de  benoeming  van  Shimon  Barbi  en  Shah  Jayesh  als

 

zaakvoerders.

Event  Date

14/05/2002

Event  Description

Legal  creation

Event  Details

 

 

 

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

320

-92.60

4,318

-72.74

15,840

-44.76

28,676

-29.09

40,441

Intangible  fixed  assets

0

-

0

-100

1,552

-50.21

3,117

-33.43

4,683

Tangible  fixed  assets

320

-92.60

4,318

-69.78

14,287

-44.10

25,558

-28.52

35,758

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

167

-82.29

941

-54.09

2,049

-37.11

3,258

-27.07

4,467

Furniture  &  Vehicles

153

-95.47

3,377

-72.40

12,239

-45.12

22,301

-28.73

31,291

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

0

-

0

-

0

-

0

-

0

Total  current  assets

5,825,702

27.37

4,573,982

-15.58

5,418,115

16.10

4,666,775

-8.83

5,118,594

Inventories

2,144,595

41.00

1,520,951

119

692,527

-32.96

1,032,954

-33.98

1,564,582

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

2,144,595

41.00

1,520,951

119

692,527

-32.96

1,032,954

-33.98

1,564,582

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

1,941,114

30.13

1,491,633

-37.24

2,376,559

10.15

2,157,622

5.30

2,049,074

Other  amounts  receivable

1,500,473

6.33

1,411,109

15.07

1,226,315

16.78

1,050,146

-1.86

1,070,099

Cash

235,921

63.67

144,146

-87.09

1,116,924

165

421,247

-1.55

427,880

Miscellaneous  current  assets

3,600

-41.40

6,143

6.09

5,791

20.50

4,806

-30.94

6,958

Total  Assets

5,826,022

27.25

4,578,300

-15.75

5,433,955

15.73

4,695,451

-8.99

5,159,034

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

4,510,593

43.50

3,143,208

0.34

3,132,616

0.87

3,105,458

0.36

3,094,167

Issued  share  capital

2,805,738

0

2,805,738

0

2,805,738

0

2,805,738

0

2,805,738

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

1,704,855

405

337,470

3.24

326,879

9.06

299,721

3.91

288,429

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

1,315,429

-8.34

1,435,092

-37.64

2,301,339

44.74

1,589,992

-23.00

2,064,867

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Other  long  term  liabilities

948,677

3.28

918,527

11.52

823,655

13.59

725,111

-4.33

757,920

Total  long  term  debts

948,677

3.28

918,527

11.52

823,655

13.59

725,111

-4.33

757,920

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

89,953

-21.97

115,288

-53.77

249,382

663

32,662

-94.86

636,049

Trade  creditors

253,989

-36.59

400,548

-67.19

1,220,659

47.30

828,664

25.32

661,245

Amounts  Payable  for  Taxes,

22,739

4321

514

-92.98

7,328

131

3,172

-65.85

9,289

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

72

-66.81

216

-31.30

314

-18.13

384

5.45

364

Total  current  liabilities

366,753

-29.00

516,566

-65.04

1,477,683

70.85

864,882

-33.82

1,306,947

Total  Liabilities

5,826,022

27.25

4,578,300

-15.75

5,433,955

15.73

4,695,451

-8.99

5,159,034

 

 

Ratio  analysis

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

15.73

8638

0.18

5.88

0.17

13.33

0.15

-6.25

0.16

Return  on  capital  employed

25.32

4342

0.57

-43.56

1.01

140

0.42

-40.85

0.71

Return  on  total  assets  employed

23.73

4646

0.50

-31.51

0.73

114

0.34

-35.85

0.53

Return  on  net  assets  employed

30.65

4098

0.73

-42.52

1.27

144

0.52

-40.91

0.88

Sales  /  net  working  capital

1.61

-50.15

3.23

-45.53

5.93

108

2.84

-35.01

4.37

Stock  turnover  ratio

24.41

110

11.62

292

2.96

-69.04

9.56

1.92

9.38

Creditor  days

12.49

11.42

11.21

-41.40

19.13

-31.97

28.12

93.66

14.52

Debtor  days

80.63

93.92

41.58

11.98

37.13

-49.06

72.89

62.48

44.86

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

15.88

79.44

8.85

141

3.67

-32.04

5.40

37.76

3.92

Liquidity  ratio  /  acid  ratio

10.04

69.88

5.91

84.69

3.20

-23.81

4.20

54.41

2.72

Current  debt  ratio

0.08

-50.0

0.16

-65.96

0.47

67.86

0.28

-33.33

0.42

Cashflow

1,368,351

6281

21,443

-46.38

39,994

65.93

24,103

-19.93

30,103

Net  worth

4,510,593

43.50

3,143,208

0.39

3,131,064

0.93

3,102,341

0.42

3,089,484

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

1.99

-45.78

3.67

-53.89

7.96

658

1.05

-94.89

20.56

Equity  in  percentage

77.42

12.77

68.65

19.04

57.67

-12.86

66.18

10.24

60.03

Total  debt  ratio

0.29

-36.96

0.46

-36.99

0.73

43.14

0.51

-23.88

0.67

Working  capital

5,458,949

34.54

4,057,416

2.97

3,940,432

3.64

3,801,893

-0.26

3,811,647

 

 

Profit  &  loss      

                                                                                                                                            

Operating  Income

8,787,328

-32.89

13,093,750

-43.96

23,363,634

116

10,805,081

-35.19

16,672,477

Turnover

8,786,907

-32.89

13,093,345

-43.96

23,363,262

116

10,804,709

-35.19

16,671,737

Total  operating  expenses

7,420,765

-43.10

13,042,489

-44.01

23,294,297

116

10,756,789

-35.31

16,627,141

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

8,793,965

-32.58

13,042,895

-44.01

23,294,669

116

10,757,161

-35.31

16,627,881

Employee  costs

-

-

3,726

-

-

-

-

-

-

Wages  and  salary

-

-

3,402

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

257

-

-

-

-

-

-

Other  employee  costs

-

-

67

-

-

-

0

-

0

Director  remuneration

37,200

0

37,200

0

37,200

-

-

-

-

Amortization  and  depreciation

966

-91.10

10,852

-15.46

12,836

0.19

12,811

9.27

11,724

Operating  result

1,366,143

2586

50,856

-26.26

68,965

43.92

47,920

7.45

44,596

Total  financial  income

46,028

17.93

39,030

20.86

32,293

12.92

28,599

16.26

24,600

Total  financial  expenses

23,171

-65.35

66,881

9.03

61,342

1.38

60,505

43.98

42,023

Results  on  ordinary  operations before  taxation

1,382,363

5908

23,005

-42.37

39,916

149

16,014

-41.07

27,172

Extraordinary  Income

6,637

753

778

-

-

-

783

-

-

Extraordinary  Charges

-

-

8,062

-

-

-

-

-

-

Extraordinary  items

6,637

91.11

-7,284

-

-

-

783

-

0

Results  for  the  Year  Before  Taxation

1,388,999

8735

15,721

-60.61

39,916

137

16,796

-38.19

27,172

Taxation

21,614

321

5,130

-59.79

12,758

131

5,505

-37.40

8,794

Results  on  ordinary  operations  after

1,360,748

7512

17,876

-34.18

27,158

158

10,509

-42.82

18,379

taxation

 

 

 

 

 

 

 

 

 

Net  result

1,367,385

12810

10,591

-61.00

27,158

140

11,291

-38.56

18,379

Profit  (Loss)  for  the  Year  to  be appropiated

1,367,385

12810

10,591

-61.00

27,158

140

11,291

-38.56

18,379

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

                                                                                                                                 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

-

Part-time  Employees

-

Total  Fte  Employees

-

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

0

Actual  working  hours

167

Personnel  Charges

3,726

Benefits  In  Addition  To  Wages

-

 

 

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

12.49

Day  sales  outstanding

80.63

 

Industry  comparison            

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

200.93

expectation  days

 

Industry  average  day  sales

212.08

outstanding

 

 

Industry  quartile  analysis    

Payment  expectations

 

Company  result

12.49

Lower

131.18

Median

58.79

Upper

26.55

 

Day  sales  outstanding 

Company  result

80.63

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

 

 

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

12/06/2012

Street

19 GOUDENREGENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

Jayesh  Shah

Name

Shimon  Barbi

Position

Manager

Start  Date

12/06/2012

Street

15 HAELA

Post  code

52960

Country

Israël

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.28

UK Pound

1

INR 89.02

Euro

1

INR 78.89

Euro

1

INR 79.14

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

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)

 

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