MIRA INFORM REPORT

Report No. :	484856
Report Date :	10.01.2018

IDENTIFICATION DETAILS

Name :	BESSTRADE B.V.
Registered Office :	Edisonweg 7, 8071RC Nunspeet
Country :	Netherlands
Financials (as on) :	31.12.2016
Date of Incorporation :	26.10.1999
Com. Reg. No.:	08083565
Legal Form :	Private Limited Company
Line of Business :	Wholesale of other intermediary products n.e.c
No. of Employees :	Not available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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)
Netherlands	A1	A1

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

NETHERLANDS - ECONOMIC OVERVIEW

The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and low unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter.

The Netherlands is part of the euro zone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 80% of banking assets, and is four times the size of Dutch GDP.

In 2008, during the financial crisis, the government budget deficit hit 5.3% of GDP. Following a protracted recession from 2009 to 2013, during which unemployment doubled to 7.4% and household consumption contracted for four consecutive years, economic growth began inching forward in 2014. Since 2010, Prime Minister Mark RUTTE’s government has implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. In 2016, the government budget returned to a surplus of 0.3% of GDP, with economic growth of 2.1%, and GDP per capita finally surpassed pre-crisis levels. The Dutch government projects steady but modest economic growth of 2.1% in 2017 and unemployment decreasing to 4.9%.

Source : CIA

Company name

Name

BessTrade

Summary

Company name	BessTrade B.V.
Operative address	Edisonweg 7 8071RC NUNSPEET Netherlands
Credit limit	EUR 20.000
Status	Active

Legal form	Private Limited Company
Registration number	KvK-nummer: 08083565
VAT-number	808250863
European VAT-number	NL808250863B01

Year	2016	Mutation	2015	Mutation	2014
Fixed assets	166.219	-3,24	171.788	121,37	77.601
Total receivables	408.013	-2,17	417.083	-2,91	429.588
Total equity	203.419	64,05	123.998	58,99	77.990
Short term liabilities	491.335	-14,64	575.613	9,27	526.771
Working capital	37.200	177,84	-47.790	-12.385,35	389
Quick ratio	0,91	22,97	0,74	-11,90	0,84

Contact information

Company name	BessTrade B.V.
Trade names	BessTrade BessTrade B.V.
Operative address	Edisonweg 7 8071RC NUNSPEET Netherlands
Correspondence address	Edisonweg 7 8071RC NUNSPEET Netherlands

Telephone number	0341-557777
Fax number	0341 553283

Registration

Registration number	KvK-nummer: 08083565
Registered in	Kamer van Koophandel Oost Nederland
Branch number	000001714481
VAT-number	808250863
European VAT-number	NL808250863B01
Status	Active
First registration company register	1999-10-26
Memorandum	1999-10-26
Establishment date	1999-10-26

Legal form	Private Limited Company
Last proposed admendment	2010-08-10
Issued placed capital	EUR 18.000
Paid up share capital	EUR 18.000

Activities

SBI	46769: Wholesale of other intermediary products n.e.c.
Exporter	Yes
Importer	Yes

Goal	De (internationale) handel in- en advisering op het gebied van recyclebare materialen.

Relations

Companies on same address

Quaestrix B.V. Registration number: 08066946

Real Estate

Details operative address

Surface area: 837 m2 Purpose: Industrial function Construction year: 1993 Status: Building in use Under investigation: No

Management

Active management

P.H.K. van Gulik Holding B.V. Laan 89 8071JJ NUNSPEET Netherlands Registration number: 50575066 Competence: Fully authorized Function: General Director Starting date: 2010-08-10 Besi Management B.V. Eperweg 34 8071AX NUNSPEET Netherlands Registration number: 08019378 Competence: Fully authorized Function: General Director Starting date: 2010-08-10

Payments

Description	No complaints
Payments within industry	Last quarter	Last year
Average payment period (days)	21	27
Average delay (days)	6	9

Quarter	Not overdue	1-30	31-60	61-90	91-120	121+
2018 Q1	76,00%	23,00%	1,00%	0,00%	0,00%	0,00%
2017 Q4	76,00%	23,00%	1,00%	0,00%	0,00%	0,00%
2017 Q3	44,00%	41,00%	14,00%	0,00%	0,00%	1,00%
2017 Q2	71,00%	26,00%	2,00%	1,00%	0,00%	0,00%
2017 Q1	53,00%	45,00%	1,00%	0,00%	0,00%	1,00%

The above data is an indication of the average payment behaviour of the client. the payment experieneces can be affected by disputes, payment arrangements, etc.

Key figures

Year	2016	2015	2014	2013	2012
Quick ratio	0,91	0,74	0,84	0,74	0,89
Current ratio	1,08	0,92	1,00	0,96	1,06
Working capital/ balance total	0,05	-0,07	0,00	-0,03	0,05
Equity / balance total	0,29	0,18	0,13	0,11	0,21
Equity / Fixed assets	1,22	0,72	1,01	0,78	1,30
Equity / liabilities	0,41	0,22	0,15	0,13	0,26
Balance total / liabilities	1,41	1,22	1,15	1,13	1,26
Working capital	37.200	-47.790	389	-20.126	27.685
Equity	203.419	123.998	77.990	70.727	120.810
Mutation equity	64,05	58,99	10,27	-41,46	22,02
Mutation short term liabilities	-14,64	9,27	-3,70	19,20	48,28

Summary

The 2016 financial result structure is a postive working captial of 37.200 euro, which is in agreement with 5 % of the total assets of the company. The working capital has increased with 177.84 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased. The improvement between 2015 and 2016 has mainly been caused by a change of the current assets. The current ratio of the company in 2016 was 1.08. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations. The quick ratio in 2016 of the company was 0.91. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities. The 2015 financial result structure is a negative working captial of -47.790 euro, which is in agreement with -7 % of the total assets of the company. The working capital has diminished with -12385.35 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased. The deterioration between 2014 and 2015 has mainly been caused by a change of the current liabilities. The current ratio of the company in 2015 was 0.92. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations. The quick ratio in 2015 of the company was 0.74. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

Financial statement

Last annual account	2016
Remark annual account	The company is obliged to file its financial statements.
Type of annual account	Corporate
Annual account	BessTrade B.V. Edisonweg 7 8071RC NUNSPEET Netherlands Registration number: 08083565

Balance

Year	2016	2015	2014	2013	2012
End date	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Type of annual account	Corporate	Corporate	Corporate	Corporate	Corporate
Intangible fixed assets	130.000	150.000	60.000	70.000	80.000
Tangible fixed assets	28.656	21.788	17.601	20.853	13.125
Financial fixed assets	7.563
Fixed assets	166.219	171.788	77.601	90.853	93.125
Total stock	79.639	101.908	86.949	122.137	76.889
Total receivables	408.013	417.083	429.588	390.061	398.653
Liquid funds	40.883	8.832	10.623	14.697	11.065
Current assets	528.535	527.823	527.160	526.895	486.607
Total assets	694.754	699.611	604.761	617.748	579.732
Issued capital	18.000	18.000	18.000	18.000	18.000
Other reserves	185.419	105.998	59.990	52.727	102.810
Total reserves	185.419	105.998	59.990	52.727	102.810
Total equity	203.419	123.998	77.990	70.727	120.810
Short term liabilities	491.335	575.613	526.771	547.021	458.922
Total short and long term liabilities	491.335	575.613	526.771	547.021	458.922
Total liabilities	694.754	699.611	604.761	617.748	579.732

Summary

The total assets remained the same between 2015 and 2016. Despite the fact that the total assets remained the same, the fixed assets decreased with -3.24 %. Despite thee unchanged assets the net worth grew with 64.05 %, which has resulted in the fact that the company's indebtedness declined with -14.64 %. In 2016 the assets of the company were 23.92 % composed of fixed assets and 76.08 % by current assets. The assets are being financed by an equity of 29.28 %, and total debt of 70.72 %. The total assets of the company increased with 15.68 % between 2014 and 2015. The total asset increase is retrievable in the fixed asset growth of 121.37 %. The asset growth has mainly been financed by a Net Worth increase of 58.99 %. Debt, however, grew with 9.27 %. In 2015 the assets of the company were 24.55 % composed of fixed assets and 75.45 % by current assets. The assets are being financed by an equity of 17.72 %, and total debt of 82.28 %.

Analysis

Branch (SBI)	Wholesale of other intermediary products n.e.c. (SBI code 46769)
Region	Veluwe
Summary	In the Netherlands 720 of the companies are registered with the SBI code 46769 In the region Veluwe 39 of the companies are registered with the SBI code 46769 In the Netherlands 10 of the bankrupcties are published within this sector In the region Veluwe 1 of the bankruptcies are published within this sector The risk of this specific sector in the Netherlands is normal The risk of this specific sector in the region Veluwe is normal

Year	2016	Company	2015	Company	2014
Equity	154.467	203.419	146.082	123.998	169.597
Working capital	186.447	37.200	141.149	-47.790	157.411
Balance total	562.180	694.754	569.896	699.611	504.717
Quick ratio	1,29	0,91	1,32	0,74	1,29
Current ratio	1,39	1,08	1,86	0,92	1,87
Equity / balance total	0,37	0,29	0,39	0,18	0,42

Publications

Deposits

31-10-2017: De jaarrekening over 2016 is gepubliceerd. 01-11-2016: De jaarrekening over 2015 is gepubliceerd. 07-09-2015: De jaarrekening over 2014 is gepubliceerd. 06-02-2015: De jaarrekening over 2013 is gepubliceerd. 18-12-2013: De jaarrekening over 2012 is gepubliceerd. 01-02-2013: De jaarrekening over 2011 is gepubliceerd.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.47
UK Pound	1	INR 86.15
Euro	1	INR 75.92
Euro	1	INR 76.16

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

INFORMATION DETAILS

Analysis Done by :	NIY
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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.