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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

484547

Report Date :

08.01.2018

 

IDENTIFICATION DETAILS

 

Name :

ARSLANIAN  GROUP  NV

 

 

Registered Office :

Hoveniersstraat  30-Bus  277, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

11.01.2013

 

 

Com. Reg. No.:

502598669

 

 

Legal Form :

Public  limited  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 :

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

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 name

 

ARSLANIAN GROUP NV 

 

Company summary                        

 

Business  number

502598669

Branche  Unit  Number

2215899177

Company  name

ARSLANIAN  GROUP  NV

Address

HOVENIERSSTRAAT  30-BUS  277

 

2018 ANTWERPEN

Date  of  establishment

11/01/2013

Telephone  number

-

Mobile  number

-

Fax  number

-

Liable  for  VAT

yes

VAT  Number

BE.0502.598.669  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  4  years  ago. The  business  has  0  employees.

The  business  has  been  at  the  address  for  over  4  years.

Operating  Result  in  the  latest  trading  period  increased  1256%  on  the  previous  trading  period.

Net  Worth  increased  by  3848%  during  the  latest  trading  period.

A  614%  growth  in  Total  Assets  occurred  during  the  latest  trading  period.

Pre-tax  profits  increased  by  1296%  compared  to  the  previous  trading  period.

 

 

Annual accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

 

1,013,004

5,622,015

6,083,211

31/12/2015

 

72,529

142,401

-210,930

31/12/2014

 

60,638

94,311

-269,874

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

11,556,505

0

4,734,024

888,553

31/12/2015

1,618,517

-

62,000

58,944

31/12/2014

4,689,716

-

62,000

53,902

Payment EXPECTATIONS

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

199.36

Industry  average  day  sales

202.90

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

502598669

Company  name

ARSLANIAN  GROUP  NV

Fax  number

-

Date  founded

11/01/2013

Company  status

active

Company  type

Public  limited  company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2016

Activity  code

46761

Number  of  staff

0

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

%

31-12-2014

%

31-12-2013

Weeks

52

 

52

 

52

 

50

Currency

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

372,009

5.29

353,331

-2.98

364,185

67.80

217,040

Intangible  fixed  assets

0

-

0

-

0

-

0

Tangible  fixed  assets

372,009

5.29

353,331

-2.98

364,185

67.80

217,040

Land  &  building

366,988

6.16

345,684

-2.33

353,914

73.37

204,143

Plant  &  machinery

5,021

-34.34

7,646

-25.56

10,272

-20.36

12,897

Furniture  &  Vehicles

0

-

0

-

0

-

0

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

Financial  fixed  assets

0

-

0

-

0

-

0

Total  current  assets

11,184,496

784

1,265,187

-70.75

4,325,531

25980

16,585

Inventories

4,471,230

-

0

-100

1,186,136

-

0

Raw  materials  &  consumables

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

Other  stocks

4,471,230

-

0

-100

1,186,136

-

0

Trade  debtors

6,464,155

550

993,304

-67.31

3,038,405

-

0

Other  amounts  receivable

18,686

127

8,217

283

2,145

8.50

1,977

Cash

230,424

-12.61

263,666

166

98,845

576

14,608

Miscellaneous  current  assets

0

-

0

-

0

-

0

Total  Assets

11,556,505

614

1,618,517

-65.49

4,689,716

1907

233,625

Liabilities

 

 

 

 

 

 

 

Total  shareholders  equity

5,622,015

3848

142,401

50.99

94,311

90.48

49,513

Issued  share  capital

4,734,024

7535

62,000

0

62,000

0

62,000

Share  premium  account

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

Reserves

887,991

1004

80,401

148

32,311

258

-12,487

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

Creditors

5,934,490

302

1,476,117

-67.88

4,595,405

2395

184,113

Other  long  term  loans

833,206

-

0

-

0

-

0

Other  long  term  liabilities

0

-

0

-

0

-

0

Total  long  term  debts

833,206

-

0

-

0

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

Financial  debts

0

-100

363

-

0

-

0

Trade  creditors

4,867,369

235

1,450,554

-68.31

4,577,461

32335

14,113

Amounts  Payable  for  Taxes,  Remuneration  &  Social  Security

159,230

536

25,000

43.14

17,465

-

0

Miscellaneous  current  liabilities

74,685

37242

200

-58.23

479

-99

170,000

Total  current  liabilities

5,101,284

245

1,476,117

-67.88

4,595,405

2395

184,113

Total  Liabilities

11,556,505

614

1,618,517

-65.49

4,689,716

1907

233,625

ratio  analysis

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

Return  on  capital  employed

15.69

-69.19

50.93

-20.79

64.30

254

-25.22

Return  on  total  assets  employed

8.77

95.76

4.48

247

1.29

24.11

-5.35

Return  on  net  assets  employed

18.02

-64.62

50.93

-20.79

64.30

254

-25.22

Sales  /  net  working  capital

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

Current  ratio

2.19

154

0.86

-8.51

0.94

944

0.09

Liquidity  ratio  /  acid  ratio

1.32

53.49

0.86

26.47

0.68

655

0.09

Current  debt  ratio

0.91

-91.22

10.37

-78.72

48.73

1209

3.72

Cashflow

888,553

1407

58,944

9.36

53,902

510

-10,565

Net  worth

5,622,015

3848

142,401

50.99

94,311

90.48

49,513

LONG  TERM  STABILITY

 

 

 

 

 

 

 

Gearing

14.82

5828

0.25

-

-

-

-

Equity  in  percentage

48.65

452

8.80

337

2.01

-90.51

21.19

Total  debt  ratio

1.06

-89.78

10.37

-78.72

48.73

1209

3.72

Working  capital

6,083,211

2883

-210,930

78.16

-269,874

-61.09

-167,528

Profit  &  loss

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

Gross  Operating  Margin

1,077,316

1108

89,153

6.17

83,974

893

-9,396

Operating  Charges

0

-

-

-

-

-

-

Employee  costs

29,037

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

Other  employee  costs

29,037

-

-

-

-

-

0

Director  remuneration

-

-

-

-

-

-

-

Amortization  and  depreciation

10,963

0.99

10,855

19.24

9,103

373

1,922

Operating  result

1,032,622

1256

76,146

5.24

72,352

581

-12,442

Total  financial  income

90

896800

0

-98.75

1

-

-

Total  financial  expenses

19,708

444

3,617

-69.13

11,715

25932

45

Results  on  ordinary  operations  before  taxation

1,013,004

1296

72,529

19.61

60,638

485

-12,487

Extraordinary  Income

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

Extraordinary  items

-

-

-

-

-

-

0

Results  for  the  Year  Before  Taxation

1,013,004

1296

72,529

19.61

60,638

485

-12,487

Taxation

135,414

454

24,440

54.29

15,840

-

-

Results  on  ordinary  operations  after  taxation

877,590

1724

48,090

7.35

44,798

358

-12,487

Net  result

877,590

1724

48,090

7.35

44,798

358

-12,487

Profit  (Loss)  for  the  Year  to  be  appropiated

877,590

1724

48,090

7.35

44,798

358

-12,487

Dividends

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet  Details

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

0

Part-time  Employees

0

Total  Fte  Employees

0

Number  of  hours  worked

 

Full-time  Employees

463

Part-time  Employees

175

Total

638

Personnel  Charges

 

Full-time  Employees

22,040

Part-time  Employees

6,998

Total

29,037

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

-

Actual  working  hours

-

Personnel  Charges

-

Benefits  In  Addition  To  Wages

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

2

1

3

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

 

 

 

 

Gender  and  Education

 

 

 

Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

2

-

2

Secondairy  education

-

-

-

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

1

1

Secondairy  education

-

-

-

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

2

1

3

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

2

1

3

Leavers

-

-

-

 

 

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

199.36

expectation  days

 

Industry  average  day  sales

202.90

outstanding

 

 

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

-

Lower

124.54

Median

58.30

Upper

26.65

 

 

Day  sales  outstanding

Company  result

-

Lower

131.12

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

Managing  Director

Start  Date

01/09/2016

Street

90 BEEKSTRAAT  Lier

Post  code

2500

Country

Belgium

Name

Sahag  Arslanian

Position

Director

Start  Date

11/01/2013

Street

90 BEEKSTRAAT  Lier

Post  code

2500

Country

Belgium

Name

Lara  Arslanian

Position

Director

Start  Date

01/09/2016

Street

 

Post  code

 

Country

 

Name

Krikor  Kozanlian

Position

Authorised  agent

Start  Date

01/04/2017

 

 

FORMER DIRECTOR DETAILS

 

Name

Garen  Arslanian

Position

Managing  Director

Start  Date

11/01/2013

End  Date

01/09/2016

Street

47 BORRENSSTRAAT  BRUSSEL

Post  code

1050

Country

Belgium

Position

Director

Start  Date

11/01/2013

End  Date

01/09/2016

Street

47 BORRENSSTRAAT  BRUSSEL

Post  code

1050

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 76.02

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TPT

 

 

 

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.