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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

486057

Report Date :

15.01.2018

 

IDENTIFICATION DETAILS

 

Name :

MY DEAR DIAMONDS BVBA

 

 

Registered Office :

Pelikaanstraat  62, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

22.02.2005

 

 

Com. Reg. No.:

872381178

 

 

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 :

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

 

MY DEAR DIAMONDS BVBA 

 

 

Company summary                        

 

Business  number

872381178

Branche  Unit  Number

2146112726

Company  name

MY  DEAR  DIAMONDS  BVBA

Address

PELIKAANSTRAAT  62

 

2018 ANTWERPEN

Date  of  establishment

22/02/2005

Telephone  number

3232253676

Mobile  number

-

Fax  number

-

Liable  for  VAT

yes

VAT  Number

BE.0872.381.178  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  12  years  ago. The  business  has  0  employees.

The  business  has  been  at  the  address  for  over  10  years.

Operating  Result  in  the  latest  trading  period  increased  272%  on  the  previous  trading  period.

Net  Worth  increased  by  79%  during  the  latest  trading  period.

Pre-tax  profits  increased  by  391%  compared  to  the  previous  trading  period.

The  business  saw  a  decrease  in  their  Cash  Balance  of  65%  during  the  latest  trading  period.

 

 

Annual accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

 

87,798

186,583

992,958

31/12/2015

 

17,848

103,868

1,022,289

31/12/2014

 

14,718

90,478

913,626

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

2,713,119

0

18,600

82,820

31/12/2015

2,645,157

0

18,600

13,792

31/12/2014

3,086,455

-

18,600

15,847

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

200.28

Industry  average  day  sales

211.50

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

872381178

Company  name

MY  DEAR  DIAMONDS

 

 

 

BVBA

Fax  number

-

Date  founded

22/02/2005

Company  status

active

Company  type

Private  limited  liability

 

 

 

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)

 

Significant  Events

 

Event  Date

22/02/2005

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

0

-99

105

-79.37

508

-55.63

1,145

-79.03

5,459

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

0

-99

105

-79.37

508

-55.63

1,145

-79.03

5,459

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

0

-100

93

-75.94

387

-57.69

915

-12.71

1,048

Furniture  &  Vehicles

0

-99

12

-90.34

121

-47.46

230

-94.79

4,411

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

2,713,119

2.57

2,645,052

-14.29

3,085,947

-5.95

3,281,261

-8.01

3,567,083

Inventories

997,367

-24.30

1,317,514

53.81

856,567

-36.20

1,342,613

-12.59

1,536,061

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

997,367

-24.30

1,317,514

53.81

856,567

-36.20

1,342,613

-12.59

1,536,061

Trade  debtors

1,527,629

66.09

919,752

-52.30

1,928,193

11.57

1,728,220

-2.14

1,766,077

Other  amounts  receivable

38,664

1416

2,549

-38.34

4,134

-55.96

9,387

110

4,460

Cash

128,840

-65.94

378,323

32.10

286,402

51.34

189,250

-25.85

255,221

Miscellaneous  current  assets

20,618

-23.39

26,913

152

10,651

-9.67

11,791

123

5,264

Total  Assets

2,713,119

2.57

2,645,157

-14.30

3,086,455

-5.97

3,282,406

-8.12

3,572,542

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

186,583

79.64

103,868

14.80

90,478

20.21

75,268

29.38

58,174

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

167,983

97.01

85,268

18.63

71,878

26.84

56,668

43.20

39,574

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

2,526,537

-0.58

2,541,289

-15.18

2,995,977

-6.58

3,207,138

-8.74

3,514,369

Other  long  term  loans

806,375

-12.21

918,527

11.52

823,655

13.59

725,111

-4.33

757,920

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

806,375

-12.21

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

0

-

0

-100

1,925

-

0

-100

5,005

Trade  creditors

1,563,284

7.57

1,453,220

-25.34

1,946,560

-12.10

2,214,498

-0.14

2,217,598

Amounts  Payable  for  Taxes,

14,481

137

6,086

-69.98

20,273

102

10,009

133

4,280

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

142,397

-12.88

163,456

-19.70

203,564

-20.95

257,521

-51.37

529,566

Total  current  liabilities

1,720,161

6.00

1,622,762

-25.30

2,172,321

-12.48

2,482,027

-9.96

2,756,448

Total  Liabilities

2,713,119

2.57

2,645,157

-14.30

3,086,455

-5.97

3,282,406

-8.12

3,572,542

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

8.84

405

1.75

8.70

1.61

-36.61

2.54

195

0.86

Return  on  total  assets  employed

3.24

383

0.67

39.58

0.48

-22.58

0.62

210

0.20

Return  on  net  assets  employed

47.06

173

17.18

5.59

16.27

-39.72

26.99

123

12.08

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.58

-3.07

1.63

14.79

1.42

7.58

1.32

2.33

1.29

Liquidity  ratio  /  acid  ratio

1.00

21.95

0.82

-20.39

1.03

32.05

0.78

5.41

0.74

Current  debt  ratio

9.22

-40.97

15.62

-34.94

24.01

-27.20

32.98

-30.39

47.38

Cashflow

82,820

500

13,792

-12.97

15,847

-28.16

22,061

65.42

13,336

Net  worth

186,583

79.64

103,868

14.80

90,478

20.21

75,268

29.38

58,174

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

432.18

-51.13

884.33

-3.08

912.46

-5.28

963.37

-26.54

1,311.46

Equity  in  percentage

6.88

75.06

3.93

34.13

2.93

27.95

2.29

40.49

1.63

Total  debt  ratio

13.54

-44.67

24.47

-26.09

33.11

-22.30

42.61

-29.47

60.41

Working  capital

992,958

-2.87

1,022,289

11.89

913,626

14.31

799,234

-1.41

810,635

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

118,091

226

36,173

27.26

28,425

-17.10

34,288

15.55

29,672

Operating  Charges

0

-

-

-

-

-

-

-

-

Employee  costs

9,532

79.46

5,312

-

-

-

-

-

-

Wages  and  salary

-

-

4,825

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

90

-

-

-

-

-

-

Other  employee  costs

9,532

2300

397

-

-

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

105

-74.01

403

-36.70

637

-87.18

4,967

-44.56

8,958

Operating  result

106,972

272

28,740

15.35

24,915

-6.14

26,545

147

10,722

Total  financial  income

0

-98.55

2

-97.71

90

-48.40

175

249

50

Total  financial  expenses

12,198

11.96

10,894

5.89

10,288

60.62

6,405

71.06

3,744

Results  on  ordinary  operations  before  taxation

87,798

391

17,848

21.27

14,718

-27.55

20,315

189

7,027

Extraordinary  Income

6,977

-

-

-

6,043

89.11

3,196

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

6,977

-

-

-

6,043

89.11

3,196

-

0

Results  for  the  Year  Before  Taxation

94,775

431

17,848

-14.03

20,761

-11.70

23,511

234

7,027

Taxation

12,060

170

4,459

-19.66

5,550

-13.51

6,417

142

2,649

Results  on  ordinary  operations  after  taxation

75,738

465

13,389

46.05

9,168

-34.04

13,899

217

4,379

Net  result

82,715

517

13,389

-11.97

15,211

-11.02

17,094

290

4,379

Profit  (Loss)  for  the  Year  to  be  appropiated

82,715

517

13,389

-11.97

15,211

-11.02

17,094

290

4,379

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

 

1

 

Total  Fte  Employees

 

0

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

570

 

Total

 

570

 

Personnel  Charges

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

9,532

 

Total

 

9,532

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

0

 

Actual  working  hours

 

305

 

Personnel  Charges

 

5,312

 

Benefits  In  Addition  To  Wages

 

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

1

0

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding Substitution

-

-

-

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

-

1

0

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

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

 

 

Payment Information

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

2

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

2

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

-

Day  sales  outstanding

-

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

200.28

expectation  days

 

Industry  average  day  sales

211.50

outstanding

 

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

-

Lower

129.55

Median

58.79

Upper

26.55

 

 

Day  sales  outstanding

Company  result

-

Lower

134.36

Median

81.74

Upper

45.45

 

 

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

01/04/2006

Street

11 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Yash  Bothra

Former  director  details

 

Name

Ajay  Bhandari

Position

Manager

Start  Date

22/02/2005

End  Date

31/03/2006

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.53

UK Pound

1

INR 86.05

Euro

1

INR 76.53

Euro

1

INR 77.50

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.