3decades

MIRA INFORM REPORT

Report No. :	487014
Report Date :	30.12.2017

IDENTIFICATION DETAILS

Name :	GEMASIA BVBA

Registered Office :	Hoveniersstraat 53-Bus 49, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2015

Date of Incorporation :	12.06.1991

Com. Reg. No.:	444382041

Legal Form :	Private Limited Liability Company

Line of Business :	Wholesale of Diamonds and Other Precious Stones.

No. of Employees :	7

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Medium Risk

Business dealings permissible on a regular monitoring basis

Status :	Moderate

Payment Behaviour :	Slow

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

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

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to shifts in foreign demand, particularly with Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries.

In 2015, Belgian GDP grew by 1.4%, the unemployment rate stabilized at 8.6%, and the budget deficit was 2.7% of GDP. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium's high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment 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 risk worsening tensions with trade unions and triggering extended strikes.

Source : CIA

Company name

GEMASIA BVBA - 444382041

Company summary

Business number	444382041
Branche Unit Number	2053332028
Company name	GEMASIA BVBA
Address	HOVENIERSSTRAAT 53-BUS 49
	2018 ANTWERPEN
Date of establishment	12/06/1991
Telephone number	3232326731
Mobile number	-
Fax number	032326731
Liable for VAT	yes
VAT Number	BE.0444.382.041 Check VAT number

Commentary

The business was established over 25 years ago.

The business has 7 employees.

The business has been at the address for over 14 years.

Operating Result in the latest trading period decreased 35% on the previous trading period.

Pre-tax profits decreased by 77% compared to the previous trading period.

Turnover in the latest trading period decreased 32% on the previous trading period.

Annual accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2015	159,764,408	67,953	4,428,353	11,972,553
31/12/2014	235,929,046	304,962	4,379,820	11,077,882
31/12/2013	254,128,968	311,957	4,178,064	9,988,221
ACCOUNTS
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2015	54,892,709	7	3,100,000	94,262
31/12/2014	60,178,266	7	3,100,000	239,429
31/12/2013	54,332,817	5	3,100,000	245,823

Payment expectations

Past payments		Payment expectation days	50.48
Industry average payment	190.80	Industry average day sales	255.33
expectation days		outstanding
Day sales outstanding	79.12

Court data summary

BANKRUPTCY DETAILS

Court action type

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

27/01/2014

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	31-12-2015	%	31-12-2014	%	31-12-2013	%	31-12-2012	%	31-12-2011
Weeks	52		52		52		52		52
Currency	EUR		EUR		EUR		EUR		EUR
Total fixed assets	492,909	-4.02	513,546	-4.79	539,360	-5.04	567,978	-7.02	610,891
Intangible fixed assets	0	-	0	-	0	-	0	-	0
Tangible fixed assets	490,796	-4.03	511,432	-4.81	537,247	-5.06	565,865	-7.05	608,778
Land & building	449,573	-4.21	469,331	-4.04	489,089	-4.55	512,400	-4.99	539,322
Plant & machinery	3,496	-32.02	5,142	19.36	4,308	33.64	3,224	115	1,499
Furniture & Vehicles	37,727	2.08	36,959	-15.71	43,850	-12.72	50,241	-26.07	67,957
Leasing & Other Similar Rights	0	-	0	-	0	-	0	-	0
Other tangible assets	0	-	0	-	0	-	0	-	0
Financial fixed assets	2,113	-0.04	2,114	0.04	2,113	0	2,113	0	2,113
Total current assets	54,399,800	-8.82	59,664,720	10.91	53,793,457	9.54	49,107,338	3.84	47,292,377
Inventories	15,855,451	49.63	10,596,566	-11.72	12,002,832	69.46	7,082,808	-57.37	16,613,243
Raw materials & consumables	0	-

Business number	444382041	Company name	GEMASIA BVBA
Fax number	032326731	Date founded	12/06/1991
Company status	active	Company type	Private Limited Liability Company
Currency	Euro (€)	Date of latest accounts	31/12/2015
Activity code	46761	Number of staff	7
Activity description	Wholesale of diamonds and other precious stones
Belgian Bullettin of Acts Publications	moniteur belge