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MIRA INFORM REPORT
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Report No. : |
486720 |
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Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
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Name : |
DEVEL+ SA |
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Registered Office : |
3, Op d'Schmëtt 9964 Huldange |
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Country : |
Luxembourg |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
02.05.2007 |
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Com. Reg. No.: |
Luxembourg B 128.166 |
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Legal Form : |
Société Anonyme |
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Line of Business : |
Subject is engaged in Sale of wood
products. |
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No. of Employees : |
3 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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) |
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Luxembourg |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
LUXEMBOURG - ECONOMIC OVERVIEW
This small, stable, high-income economy has historically featured solid growth, low inflation, and low unemployment. Luxembourg, the only Grand Duchy in the world, is a landlocked country in northwestern Europe surrounded by Belgium, France, and Germany. Despite its small landmass and small population, Luxembourg is the second-wealthiest country in the world when measured on a gross domestic product (PPP) per capita basis. Luxembourg has one of the highest current account surpluses as a share of GDP in the euro zone, and it maintains a healthy budgetary position, with a 2017 surplus of 0.5% of GDP, and the lowest public debt level in the region.
Since 2002, Luxembourg’s government has proactively implemented policies and programs to support economic diversification and to attract foreign direct investment. The government focused on key innovative industries that showed promise for supporting economic growth: logistics, information and communications technology (ICT); health technologies, including biotechnology and biomedical research; clean energy technologies, and more recently, space technology and financial services technologies. The economy has evolved and flourished, posting strong GDP growth of 3.4% in 2017, far outpacing the European average of 1.8%.
Luxembourg remains a financial powerhouse – the financial sector accounts for more than 35% of GDP - because of the exponential growth of the investment fund sector through the launch and development of cross-border funds (UCITS) in the 1990s. Luxembourg is the world’s second-largest investment fund asset domicile, after the US, with $4 trillion of assets in custody in financial institutions.
Luxembourg has lost some of its advantage as a favorable tax location because of OECD and EU pressure, as well as the “LuxLeaks” scandal, which revealed advantageous tax treatments offered to foreign corporations. In 2015, the government’s compliance with EU requirements to implement automatic exchange of tax information on savings accounts - thus ending banking secrecy - has constricted banking activity. Likewise, changes to the way EU members collect taxes from e-commerce has cut Luxembourg’s sales tax revenues, requiring the government to raise additional levies and to reduce some direct social benefits as part of the tax reform package of 2017. The tax reform package also included reductions in the corporate tax rate and increases in deductions for families, both intended to increase purchasing power and increase competitiveness.
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Source
: CIA |
Company
name and address
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Company name |
Devel+ SA |
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Trading name |
Devel+ Devel Plus |
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Registered address |
3, Op d'Schmëtt 9964 Huldange |
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Correspondence address |
3, Op d'Schmëtt 9964 Huldange |
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Telephone number |
+352 27808972 |
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Fax number |
+352 26909765 |
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Email address |
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Website |
www.bertemes.be |
Registration
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Registration number |
Luxembourg B 128.166 |
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VAT-number |
2007/2214/561 |
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Status |
Active |
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Establishment date |
02-05-2007 |
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Legal form |
Société Anonyme |
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Subscribed share capital |
EUR
100.000 |
Activities
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Sale of wood products. |
Relations
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Shareholders |
Unknown |
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Structure |
Subsidiaries/participations: None on record |
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Branches |
No branches on record |
Management
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Name |
Jacques Henri Ghislain
Bertemes, born 08.12.1949 Vielsalm,
Belgium |
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Postition |
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Startdate |
10-09-2013 |
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Name |
Dimitri Jean André Bertemes,
born 07.08.1977 Vielsalm,
Belgium |
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Postition |
Director |
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Startdate |
10-09-2013 |
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Name |
Cécile
Bertemes, born 03.03.1979 Arbrefontaine,
Belgium |
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Director |
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Startdate |
10-09-2013 |
Employees
|
Year |
2018 |
2017 |
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|
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3 |
3 |
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Bank
|
ING BANK |
Payments
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No complaints on record. |
Remarks
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Auditor:
Unknown |
Finances
Balance Sheet
|
Balance sheet category |
small balance sheet |
small balance sheet |
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Legal system |
HGB |
HGB |
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Reporting period |
01.01.2016 - 31.12.2016 |
01.01.2015 - 31.12.2015 |
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Assets |
in EUR |
in EUR |
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Balance sheet total |
1.361.575,55 |
2.563.594,98 |
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Tangible
assets |
7.441,78 |
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Factory
and office equipment |
14.823,25 |
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Financial
assets |
3.048,13 |
3.050,81 |
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Stocks |
821.790,47 |
1.112.595,77 |
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Receivables
and other assets |
508.101,74 |
1.117.095,81 |
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Cheque, cash in hand and in
banks |
21.193,43 |
316.029,34 |
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Liabilities |
in EUR |
in EUR |
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Balance sheet total |
1.361.575,55 |
2.563.594,98 |
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Subscribed capital, credit balance,
capital accounts |
100.000,00 |
100.000,00 |
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Profit
reserves |
10.000,00 |
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Profit
carried forward |
182.655,39 |
99.311,38 |
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Net
profit |
90.429,26 |
93.344,01 |
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Provisions |
22.390,00 |
304.053,76 |
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Liabilities |
956.100,90 |
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Liabilities
towards credit institutes |
400.286,75 |
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Accounts
payable |
769.103,80 |
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Miscellaneous
items |
424.666,08 |
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Deferred
items - liabilities - |
372.829,20 |
Ratios
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Reporting period |
01.01.2016 - 31.12.2016 |
01.01.2015 - 31.12.2015 |
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Financial position |
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Equity ratio (%) |
28,14 |
11,42 |
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Debt equity ratio |
2,55 |
7,76 |
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Net asset position |
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Liquid assets ratio (%) |
1,56 |
12,33 |
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Asset tangibility (%) |
0,77 |
0,70 |
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Liquidity position |
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Success rate (%) |
20,06 |
7,52 |
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Cash ratio, extended (%) |
2,17 |
13,92 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.50 |
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|
1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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EURO |
1 |
INR 79.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
NIY |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.