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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

484444

Report Date :

06.01.2018

 

IDENTIFICATION DETAILS

 

Name :

GLOBALTEX  BVBA

 

 

Registered Office :

Stijn Streuvelsstraat 99 8790 Waregem

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

26.10.2007

 

 

Com. Reg. No.:

893201932

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Wholesale of Other Intermediate Products.

 

 

No. of Employees :

1

 

 

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. 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

893201932

Branche  Unit  Number

2166756504

Company  name

GLOBALTEX  BVBA

Address

STIJN  STREUVELSSTRAAT  99

8790 WAREGEM

Date  of  establishment

26/10/2007

Telephone  number

3256282727

Mobile  number

32493616740

Fax  number

056282726

Liable  for  VAT

Yes

VAT  Number

BE.0893.201.932  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  9  years  ago.

The  business  has  1  employees.

The  business  has  been  at  the  address  for  over  9  years.

Operating  Result  in  the  latest  trading  period  increased  181%  on  the  previous  trading  period.

Pre-tax  profits  increased  by  81%  compared  to  the  previous  trading  period.

The  business  saw  a  decrease  in  their  Cash  Balance  of  38%  during  the  latest  trading  period.

 

 

Annual accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

51,252,103

1,633,193

2,491,594

1,518,454

31/12/2015

47,675,134

900,855

2,401,555

2,017,030

31/12/2014

33,898,149

93,624

2,411,256

2,151,543

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

17,296,259

1

50,000

1,097,903

31/12/2015

16,137,278

1

50,000

618,677

31/12/2014

13,139,000

0

50,000

85,633

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

13.41

Industry  average  payment

187.41

Industry  average  day  sales

259.54

expectation  days

 

outstanding

 

Day  sales  outstanding

100.66

 

 

 

 

Court data summary

 

BANKRUPTCY  DETAILS

 

Court  action  type

No

PROTESTED  BILLS

 

Bill  amount

-

NSSO  DETAILS

 

Date  of  summons

-

 

 

Company information

 

Business  number

893201932

Company  name

GLOBALTEX  BVBA

Fax  number

056282726

Date  founded

26/10/2007

Company  status

active

Company  type

Private  limited  liability company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2016

Activity  code

46769

Number  of  staff

1

Activity  description

Wholesale  of  other intermediare  products,  n.e.c.

 

 

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

218

Description

Additional  national  joint  committee  for  the  employees

category

 

 

 

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

1,004,049

135

425,739

47.74

288,163

114

134,243

-2.66

137,912

Intangible  fixed  assets

30,909

-25.00

41,214

44.86

28,450

-

0

-

0

Tangible  fixed  assets

11,974

-45.41

21,936

262

6,058

-3.94

6,307

-24.92

8,400

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

0

-

0

-

0

-

0

-

0

Furniture  &  Vehicles

11,974

-45.41

21,936

262

6,058

-3.94

6,307

-24.92

8,400

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

961,166

165

362,589

42.95

 

98.27

127,936

-1.22

129,512

Total  current  assets

16,292,210

3.70

15,711,538

22.26

 

12.18

11,455,137

2.85

11,137,954

Inventories

1,450,036

-6.17

1,545,436

29.23

253,654

-38.88

1,956,721

10.54

1,770,186

Raw  materials  &  consumables

0

-

0

-

12,850,837

-

0

-

0

Work  in  progress

0

-

0

-

1,195,861

-

0

-

0

Finished  goods

1,450,036

-6.17

1,545,436

29.23

1,195,861

-38.88

1,956,721

10.54

1,770,186

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

14,134,123

7.52

13,145,239

23.22

10,668,426

37.24

7,773,277

-6.80

8,340,498

Other  amounts  receivable

127,691

40.88

90,638

-58.04

216,026

-16.79

259,627

96.64

132,032

Cash

565,203

-38.21

914,764

21.91

750,349

-48.19

1,448,249

63.62

885,114

Miscellaneous  current  assets

15,157

-1.97

15,461

-23.37

20,175

16.88

17,262

70.51

10,124

Total  Assets

17,296,259

7.18

16,137,278

22.82

13,139,000

13.37

11,589,380

2.78

11,275,866

 

Liabilities                                                                                                                                         

Total  shareholders  equity

2,522,503

3.26

2,442,769

0.13

2,439,706

3.40

2,359,443

9.97

2,145,552

Issued  share  capital

50,000

0

50,000

0

50,000

0

50,000

0

50,000

 

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

2,472,503

3.33

2,392,769

0.13

2,389,706

3.48

2,309,443

10.21

2,095,552

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

14,773,756

7.88

13,694,508

27.99

10,699,294

15.92

9,229,937

1.09

9,130,314

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

10,771,896

2.94

10,464,485

25.36

8,347,240

12.61

7,412,350

-9.37

8,178,926

Trade  creditors

1,806,760

-18.54

2,217,999

14.15

1,943,022

8.04

1,798,409

96.98

912,972

Amounts  Payable  for  Taxes,

569,781

175

206,836

11098

1,847

-

0

-

0

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

1,625,319

101

805,188

97.75

407,184

2023

19,179

-50.08

38,416

Total  current  liabilities

14,773,756

7.88

13,694,508

27.99

10,699,294

15.92

9,229,937

1.09

9,130,314

Total  Liabilities

17,296,259

7.18

16,137,278

22.82

13,139,000

13.37

11,589,380

2.78

11,275,866

 

 

Ratio  Analysis

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

3.19

68.78

1.89

575

0.28

-59.42

0.69

-71.84

2.45

Return  on  capital  employed

64.74

75.54

36.88

860

3.84

-69.67

12.66

-68.79

40.57

Return  on  total  assets  employed

9.44

69.18

5.58

685

0.71

-72.48

2.58

-66.58

7.72

Return  on  net  assets  employed

64.74

75.54

36.88

860

3.84

-69.67

12.66

-68.79

40.57

Sales  /  net  working  capital

33.75

42.77

23.64

50.0

15.76

-19.05

19.47

10.19

17.67

Stock  turnover  ratio

2.83

-12.65

3.24

-8.22

3.53

-21.90

4.52

-9.42

4.99

Creditor  days

13.41

-22.26

17.25

-18.48

21.16

37.76

15.36

59.34

9.64

Debtor  days

100.66

0.02

100.64

-12.39

114.87

75.40

65.49

-23.68

85.81

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.10

-4.35

1.15

-4.17

1.20

-3.23

1.24

1.64

1.22

Liquidity  ratio  /  acid  ratio

1.00

-2.91

1.03

-5.50

1.09

5.83

1.03

0

1.03

Current  debt  ratio

5.86

4.46

5.61

27.79

4.39

12.28

3.91

-8.22

4.26

Cashflow

1,097,903

77.46

618,677

622

85,633

-61.16

220,499

-62.78

592,442

Net  worth

2,491,594

3.75

2,401,555

-0.40

2,411,256

2.20

2,359,443

9.97

2,145,552

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

427.03

-0.32

428.39

25.21

342.14

8.91

314.16

-17.59

381.20

Equity  in  percentage

14.61

-3.75

15.18

-18.43

18.61

-8.60

20.36

6.99

19.03

Total  debt  ratio

5.86

4.46

5.61

27.79

4.39

12.28

3.91

-8.22

4.26

Working  capital

1,518,454

-24.72

2,017,030

-6.25

2,151,543

-3.31

2,225,200

10.84

2,007,640

 

 

PROFIT & LOSS                 

                                                                                                                                           

Operating  Income

51,331,798

7.46

47,766,085

40.80

33,925,225

-21.86

43,417,145

22.35

35,487,387

Turnover

51,252,103

7.50

47,675,134

40.64

33,898,149

-21.75

43,320,796

22.11

35,475,868

Total  operating  expenses

49,166,387

4.76

46,934,124

40.02

33,519,366

-21.55

42,726,497

23.55

34,583,308

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

51,338,460

9.17

47,025,076

40.18

33,546,442

-21.66

42,822,846

23.78

34,594,826

Employee  costs

88,962

-0.14

89,086

408

17,518

-

-

-

-

Wages  and  salary

62,349

11.75

55,794

443

10,267

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

14,835

-7.50

16,038

443

2,953

-

-

-

-

Other  employee  costs

11,778

-31.73

17,253

301

4,298

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

18,169

16.37

15,614

190

5,370

-18.74

6,608

13.80

5,807

Operating  result

2,085,716

181

741,009

95.63

378,783

-36.26

594,299

-33.42

892,561

Total  financial  income

1,668,391

-37.75

2,680,116

138

1,123,629

-13.06

1,292,489

-45.36

2,365,489

Total  financial  expenses

2,114,252

-16.11

2,520,271

78.90

1,408,788

-11.29

1,588,126

-33.48

2,387,498

Results  on  ordinary  operations before  taxation

1,633,193

81.29

900,855

862

93,624

-68.65

298,661

-65.69

870,552

Extraordinary  Income

6,662

-

-

-

2,624

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

6,662

-

-

-

2,624

-

0

-

0

Results  for  the  Year  Before Taxation

1,639,855

82.03

900,855

835

96,248

-67.77

298,661

-65.69

870,552

Taxation

560,121

88.09

297,792

1763

15,984

-81.14

84,770

-70.14

283,917

Results  on  ordinary  operations after  taxation

1,073,072

77.94

603,063

676

77,640

-63.70

213,891

-63.54

586,635

Net  result

1,079,734

79.04

603,063

651

80,263

-62.47

213,891

-63.54

586,635

Profit  (Loss)  for  the  Year  to  be appropiated

 

1,079,734

79.04

603,063

651

80,263

-62.47

213,891

-63.54

586,635

Dividends

1,000,000

66.67

600,000

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

1

Part-time  Employees

-

Total  Fte  Employees

1

Number  of  hours  worked

 

Full-time  Employees

1,768

Part-time  Employees

-

Total

1,768

Personnel  Charges

 

Full-time  Employees

88,962

Part-time  Employees

-

Total

88,962

Benefits  In  Addition  To  Wages

1,245

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

1,752

Personnel  Charges

71,832

Benefits  In  Addition  To  Wages

1,229

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

1

-

1

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

 

Gender  and  Education

 

 

 

Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

1

-

1

(university)

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

1

-

1

Blue  collar  worker

-

-

-

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

46769

Activity  description

Wholesale  of  other  intermediare  products,  n.e.c.

 

 

Payment Information

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

50

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

40

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

8

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

1

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

1

 

 

SUSPENSION OF PAYMENTS / MORATORIUM HISTORY

Amount

-

Details

-

Payment  expectations

 

Payment  expectation  days

13.41

Day  sales  outstanding

100.66

Industry  comparison

 

Activity  code

46769

Activity  description

Wholesale  of  other  intermediare  products,  n.e.c.

Industry  average  payment

187.41

 

Industry  quartile  analysis

Payment  expectations

 

Company  result

13.41

Lower

125.05

Median

58.16

Upper

26.65

 

 

Day  sales  outstanding

 

Company  result

100.66

Lower

131.98

Median

83.74

Upper

48.04

 

 

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                                      

Business

Company  name

%

Date  of

number

 

 

accounts

894762543

DAMELO  BVBA

40

31/12/2015

438363289

MDM  NV

40

30/06/2016

816919350

GELEEN  BVBA

20

30/09/2016

 

Minority  Interests                                                                                                                            

Business

Company  name

%

 

Date  of

number

 

 

 

accounts

896587628

EAST  INVEST  BVBA

15

23

31/12/2016

-

ILCON  SRO

10.85

N/R

-

                             

Companies  that  match  this  address                                                            

Business  number

Company  name

878166437

SOLUX  INVEST  CVBA  CVBA

 

 

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

Permanent  representative  legal  entity

Start  Date

15/06/2012

Street

41 TIENBUNDER  Desselgem

Post  code

8792

Country

Belgium

 

 

Name

Cindy  Blancke

Name

Philippe  Damman

Position

Permanent  representative  legal  entity

Start  Date

15/06/2012

Street

97 INDUSTRIELAAN  Waregem

Post  code

8790

Country

Belgium

 

 

Name

Marc  Dewaele

Position

Permanent  representative  legal  entity

Start  Date

26/10/2007

Street

190 HENRI  LEBBESTRAAT  Waregem

Post  code

8790

Country

Belgium

 

 

Name

GELEEN  BVBA

Position

Manager

Start  Date

15/06/2012

Street

--

Post  code

--

Country

--

 

 

Name

DAMELO  BVBA

Position

Manager

Start  Date

15/06/2012

Street

--

Post  code

--

Country

--

 

 

Name

MDM  NV

Position

Manager

Start  Date

26/10/2007

Street

--

Post  code

--

Country

--

 

FORMER DIRECTOR DETAILS

 

Name

SOLAR  BVBA

Position

Director

Start  Date

26/10/2007

End  Date

15/06/2012

Street

--

Post  code

--

Country

--

 

 

Name

Thomas  Dewaele

Position

Permanent  representative  legal  entity

Start  Date

26/10/2007

End  Date

15/06/2012

Date  of  birth

14/06/1986

Street

55 BROUWERIJSTRAAT  WAREGEM

Post  code

8790

Country

Belgium

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

INR 63.38

UK Pound

1

INR 86.02

Euro

1

INR 76.50

EURO

1

INR 76.20

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

NIT

 


 

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.