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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

488276

Report Date :

30.01.2018

 

IDENTIFICATION DETAILS

 

Name :

DAARNHOUWER & CO B.V.

 

 

Registered Office :

Korte Hogendijk 18 1506MA Zaandam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

01.04.1958

 

 

Com. Reg. No.:

KvK-nummer: 35026025

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is engaged in Wholesale of other agricultural products.

 

 

No. of Employees :

17

 

 

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 :

Good

 

 

Payment Behaviour :

Regular

 

 

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 consistently 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 2017, the government budget returned to a surplus of 0.7% of GDP, with economic growth of 3.2%, and GDP per capita finally surpassed pre-crisis levels. The fiscal policy announced by the new government in the 2018-2021 coalition plans for increases in government consumption and public investment, fueling domestic demand and household consumption and investment. The new government’s policy also plans to increase demand for workers in the public and private sector, forecasting a further decline in the unemployment rate, which hit 4.8% in 2017.

 

Source : CIA

 

Company name and Summary

 

Company name

Daarnhouwer & Co B.V.

Operative address

Korte Hogendijk 18
1506MA Zaandam
Netherlands

Status

Active

Specification

This company can meet all its obligations.

 

Legal form

Private Limited Company

Registration number

KvK-nummer: 35026025

VAT-number

003160579

European VAT-number

NL003160579B01

Year

2016

Mutation

2015

Mutation

2014

Fixed assets

374.764

-69,05 

1.210.847

124,77 

538.703

Total receivables

9.624.511

2,67 

9.374.336

-10,44 

10.467.538

Total equity

6.009.603

-18,92 

7.411.655

22,40 

6.055.074

Short term liabilities

19.536.190

-12,89 

22.425.924

34,10 

16.723.245

Net result

-1.388.503

-206,30 

1.306.166

146,10 

530.745

Working capital

5.988.101

-6,46 

6.401.749

10,89 

5.773.157

Quick ratio

0,49

16,67 

0,42

-33,33 

0,63

http://kredietinformatie.creditdevice.nl/cache/ci-report-1232541-EN/SUMMARY-01-bar-large.png

 

 

Contact information

 

Company name

Daarnhouwer & Co B.V.

Trade names

Daarnhouwer & Co B.V.

Operative address

Korte Hogendijk 18
1506MA Zaandam
Netherlands

Correspondence address

Postbus 2037
1500GA Zaandam
Netherlands

 

Telephone number

0756126383

Fax number

0756318532

Email address

directie@daarnhouwer.nl

Website

www.daarnhouwer.nl

 

 

Registration

 

Registration number

KvK-nummer: 35026025

Branch number

000017718805

VAT-number

003160579

European VAT-number

NL003160579B01

Status

Active

First registration company register

1972-07-31

Memorandum

1974-05-15

Establishment date

1958-04-01

 

Legal form

Private Limited Company

Legal person since

1974-05-15

Last proposed admendment

2016-10-26

Issued placed capital

EUR 1.260.000

Paid up share capital

EUR 1.260.000

 

 

Activities

 

SBI

46219: Wholesale of other agricultural products

Exporter

Yes

Importer

Yes

 

Branche organisations

KNVKT - Koninklijke Nederlandse Vereniging voor Koffie en Thee

Goal

Handel (import-export) van ruwe koffie, cacao en noten

 

 

Relations

 

Shareholders

Amtrada Holding B.V.
Korte Hogendijk 18
1506MA ZAANDAM
Netherlands
Registration number: 33223386
Percentage: 100%

Affiliates

Continaf B.V.
Korte Hogendijk 18
1506MA ZAANDAM
Netherlands
Registration number: 33038089

 

Companies on same address

Amtrada Holding B.V.
Registration number: 33223386

 

Continaf B.V.
Registration number: 33038089

 

Plodimex Holland B.V.
Registration number: 33244595

 

 

Real Estate

 

Details operative address

Surface area: 573 m2
Purpose: Office function
Construction year: 2003
Status: Building in use
Under investigation: No

 

 

Management

 

Active management

J.G.M. van den Heuvel Johannes Gerardus Maria
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2016-10-01
Date of birth: 1973-08-17, Geldrop, NL

 

W.M.E. van der Struijk Wilhelmus Martinus Elisabeth
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2017-01-27
Date of birth: 1975-05-18, Eersel, NL

 

C.P.A. Weel Cornelis Petrus Antonius
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1993-12-22
Date of birth: 1956-10-12, Heerhugowaard, NL

 

M.G.A. Bakker Marcus Gerardus Albertus
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-03-01
Date of birth: 1968-05-22, Den Helder, NL

 

J.M. Smit Job Martijn
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2013-03-01
Date of birth: 1982-01-07, Zaanstad, NL

 

A.L. Smith Albert Leonard
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2017-01-01
Date of birth: 1979-01-29, 's-Gravenhage, NL

 

T.J.P. Boereboom Ted Josephus Paulus
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2014-03-01
Date of birth: 1979-03-15, Alkmaar, NL

 

R.M. van Otterlo Rutger Minko
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2014-09-30
Date of birth: 1978-05-25, Apeldoorn, NL

 

M.S. Jiménez Rojas María Salvadora
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2015-06-23
Date of birth: 1976-03-07, San José, CR

 

J.E. Nielsen Jens Erik
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2016-01-01
Date of birth: 1960-07-05, Kopenhagen, DK

 

L.M. Peters Leander Marcel
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2017-10-24
Date of birth: 1990-06-09, Doetinchem, NL

 

 

Employees

 

Year

2018

2017

2016

2015

2014

Annual

20

16

15

Chamber of Commerce

17

18

18

18

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Payments

 

Payments within industry

Last quarter

Last year

Average payment period (days)

40

37

Average delay (days)

22

19

 

Quarter

Not overdue

1-30

31-60

61-90

91-120

121+

2018 Q1

60,00%

26,00%

6,00%

3,00%

1,00%

4,00%

2017 Q4

60,00%

26,00%

6,00%

3,00%

1,00%

4,00%

2017 Q3

55,00%

32,00%

8,00%

2,00%

0,00%

2,00%

2017 Q2

70,00%

25,00%

2,00%

1,00%

1,00%

2,00%

2017 Q1

39,00%

46,00%

9,00%

2,00%

1,00%

3,00%

 

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

0,49

0,42

0,63

0,73

0,75

Current ratio

1,31

1,29

1,35

1,32

1,31

Working capital/ balance total

0,23

0,21

0,25

0,24

0,23

Equity / balance total

0,23

0,25

0,26

0,25

0,23

Equity / Fixed assets

16,04

6,12

11,24

12,02

16,96

Equity / liabilities

0,30

0,33

0,36

0,33

0,30

Balance total / liabilities

1,30

1,33

1,36

1,33

1,30

Working capital

5.988.101

6.401.749

5.773.157

5.252.474

5.165.810

Equity

6.009.603

7.411.655

6.055.074

5.482.542

5.168.292

Mutation equity

-18,92

22,40

10,44

6,08

17,30

Mutation short term liabilities

-12,89

34,10

2,27

-2,03

-18,61

Return on total assets (ROA)

0,00

4,41

2,52

1,51

4,16

Return on equity (ROE)

0,01

17,87

9,60

6,08

17,83

Gross profit margin

0,37

1,83

0,96

0,91

1,37

Net profit margin

-1,97

1,51

0,58

0,49

0,78

Average collection ratio

3,61

3,86

5,52

4,10

5,80

Average payment ratio

7,33

9,24

8,81

5,62

7,71

Equity turnover ratio

11,74

11,68

15,24

12,21

18,73

Total assets turnover ratio

2,73

2,88

4,00

3,04

4,37

Fixed assets turnover ratio

188,32

71,51

171,24

146,86

317,55

Inventory conversion ratio

4,44

4,45

7,67

6,91

10,40

Turnover

70.576.152

86.586.061

92.249.321

66.969.228

96.785.450

Gross margin

2.963.428

4.313.309

3.723.514

3.334.429

4.057.945

Operating result

260.061

1.586.623

882.079

608.093

1.330.350

Net result after taxes

-1.388.503

1.306.166

530.745

326.191

757.476

Cashflow

-1.226.734

1.396.353

610.294

382.553

817.076

EBIT

260.061

1.586.623

882.079

608.093

1.330.350

EBITDA

421.830

1.676.810

961.628

664.455

1.389.950

Summary

The 2016 financial result structure is a postive working captial of 5.988.101 euro, which is in agreement with 23 % of the total assets of the company.
The working capital has diminished with -6.46 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The deterioration between 2015 and 2016 has mainly been caused by a change of the current assets.
The current ratio of the company in 2016 was 1.31. 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 0.49. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2015 financial result structure is a postive working captial of 6.401.749 euro, which is in agreement with 21 % of the total assets of the company.
The working capital has increase with 10.89 % compared to previous year. The ratio with respect to the total assets of the company has however, declined.
The improvement between 2014 and 2015 has mainly been caused by a change of the current liabilities.
The current ratio of the company in 2015 was 1.29. 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 0.42. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

http://kredietinformatie.creditdevice.nl/cache/ci-report-1232541-EN/KEYFIGURES-01-bar-large.png

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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

Daarnhouwer & Co B.V.
Korte Hogendijk 18
1506MA Zaandam
Netherlands
Registration number: 35026025

 

 

Financials

 

Balance

 

Year

2016

2015

2014

2013

2012

End date

2016-12-31

2015-12-31

2014-12-31

2013-09-30

2012-09-30

Type of annual account

Corporate

Corporate

Corporate

Corporate

Corporate

Intangible fixed assets

197.155

Tangible fixed assets

177.608

427.597

125.288

181.972

117.994

Financial fixed assets

1

783.250

413.415

274.028

186.791

Fixed assets

374.764

1.210.847

538.703

456.000

304.785

Total stock

15.899.355

19.453.160

12.028.864

9.693.870

9.307.978

Accounts receivable

6.909.475

6.348.753

6.503.364

7.570.793

Other receivables

2.464.861

4.118.785

5.406.457

4.975.853

Total receivables

9.624.511

9.374.336

10.467.538

11.909.821

12.546.646

Liquid funds

425

177

755

1.759

Current assets

25.524.291

28.827.673

22.496.402

21.604.446

21.856.383

Total assets

25.899.055

30.038.520

23.035.105

22.060.446

22.161.168

Issued capital

1.260.000

1.270.584

1.270.584

1.270.584

1.270.584

Revaluation reserve

82.226

Other reserves

4.667.377

4.834.905

4.253.745

3.885.767

3.140.232

Non-distributable profit

1.306.166

530.745

326.191

757.476

Total reserves

4.749.603

6.141.071

4.784.490

4.211.958

3.897.708

Total equity

6.009.603

7.411.655

6.055.074

5.482.542

5.168.292

Provisions

353.262

200.941

256.786

225.932

302.303

Accounts payable

613.953

975.296

1.362.512

2.556.010

Other short term liabilities

21.811.971

15.747.949

14.989.460

14.134.563

Short term liabilities

19.536.190

22.425.924

16.723.245

16.351.972

16.690.573

Total short and long term liabilities

19.889.452

22.626.865

16.980.031

16.577.904

16.992.876

Total liabilities

25.899.055

30.038.520

23.035.105

22.060.446

22.161.168

Summary

The total assets of the company decreased with -13.78 % between 2015 and 2016.
This downturn is mainly retrievable in the fixed asset decrease of -69.05 %.
Assets reduction is explained by a Net Worth decrease of -18.92 %, and an indebtedness reduction of -12.1 %.
In 2016 the assets of the company were 1.45 % composed of fixed assets and 98.55 % by current assets. The assets are being financed by an equity of 23.2 %, and total debt of 76.8 %.

The total assets of the company increased with 30.4 % between 2014 and 2015.
The total asset increase is retrievable in the fixed asset growth of 124.77 %.
The asset growth has mainly been financed by a debt increase of 33.26 %. The Net Worth, however, grew with 22.4 %.
In 2015 the assets of the company were 4.03 % composed of fixed assets and 95.97 % by current assets. The assets are being financed by an equity of 24.67 %, and total debt of 75.33 %.

http://kredietinformatie.creditdevice.nl/cache/ci-report-1232541-EN/BALANCESHEETS-01-bar-large.png

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Profit and loss

 

Year

2016

2015

2014

2013

2012

Revenues

70.576.152

86.586.061

92.249.321

66.969.228

96.785.450

Net turnover

70.576.152

86.586.061

92.249.321

66.969.228

96.785.450

Gross margin

2.963.428

4.313.309

3.723.514

3.334.429

4.057.945

Wages and salaries

1.866.481

1.744.859

1.771.508

1.679.474

1.828.519

Amorization and depreciation

161.769

90.187

79.549

56.362

59.600

Sales

67.612.724

82.272.752

88.525.807

63.634.799

92.727.505

other operating costs

675.117

891.640

990.378

990.500

839.476

Operating expenses

70.316.091

84.999.438

91.367.242

66.361.135

95.455.100

Operating result

260.061

1.586.623

882.079

608.093

1.330.350

Financial income

2.452

4.809

Financial expenses

259.653

262.132

300.676

277.414

413.531

Financial result

-259.653

-262.132

-300.676

-274.962

-408.722

Result on ordinary operations before taxes

408

1.324.491

581.403

333.131

921.628

Taxation on the result of ordinary activities

24.638

337.745

148.258

84.949

235.015

Result of ordinary activities after taxes

-24.230

986.746

433.145

248.182

686.613

Result subsidiaries after taxes

-1.364.273

319.420

97.600

78.009

70.863

Net result

-1.388.503

1.306.166

530.745

326.191

757.476

Summary

The turnover of the company decreased by -18.49 % between 2015 and 2016.
The gross profit of the company decreased by -31.3 % between 2015 and 2016.
The operating result of the company declined with -83.61 % between 2015 and 2016. This evolution implies an decrease of the company's economic profitability.
The result of these changes is a reduction of the company's Economic Profitability of -100 % of the analysed period, being equal to 0 in the year 2016.
This fall has contributed to a asset turnover decrease, whose index evolved from -5.21 to a level of 2.73.
The Net Result of the company decreased by -206.3 % between 2015 and 2016.
The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of -99.94 % of the analysed period, being 0.01 in the year 2016.
The company's financial profitability has been positively affected by its financial structure.

The turnover of the company decreased by -6.14 % between 2014 and 2015.
The gross profit of the company grew with 15.84 % between 2014 and 2015.
The operating result of the company grew with 79.87 % between 2014 and 2015. This evolution implies an increase of the company's economic profitability.
The result of these changes is an increase of the company's Economic Profitability of 75 % of the analysed period, being equal to 4.41 in the year 2015.
Despite the growth the assets turnover decreased, whose index evolved with -28 % to a level of 2.88.
The Net Result of the company increased by 146.1 % between 2014 and 2015.
The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of 86.15 % of the analysed period, being 17.87 in the year 2015.
The company's financial structure has slowed down its financial profitability.

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Analysis

 

Branch (SBI)

Wholesale of other agricultural products (SBI code 46219)

Region

Groot Amsterdam

Summary

In the Netherlands 10563 of the companies are registered with the SBI code 46219
In the region Groot Amsterdam 1050 of the companies are registered with the SBI code 46219
In the Netherlands 148 of the bankrupcties are published within this sector
In the region Groot Amsterdam 16 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 Groot Amsterdam is normal

Year

2016

Company

2015

Company

2014

Equity

160.602

6.009.603 

164.952

7.411.655 

163.932

Working capital

133.884

5.988.101 

110.450

6.401.749 

100.716

Balance total

576.838

25.899.055 

583.615

30.038.520 

595.716

Quick ratio

1,36

0,49 

1,34

0,42 

1,30

Current ratio

1,31

1,31 

1,51

1,29 

1,52

Equity / balance total

0,38

0,23 

0,37

0,25 

0,36

Turnover

9.352.346

70.576.152 

9.187.111

86.586.061 

7.754.577

Net result

802.891

-1.388.503 

779.446

1.306.166 

560.305

 

 

Publications

 

Deposits

22-12-2017: De jaarrekening over 2016 is gepubliceerd.
19-04-2016: De jaarrekening over 2015 is gepubliceerd.
30-07-2015: De jaarrekening over 2014 (gebroken boekjaar) is gepubliceerd.

Functions

31-10-2017: Per 24-10-2017 is gevolmachtigde Leander Marcel Peters in functie getreden.
07-02-2017: Per 27-01-2017 is bestuurder Wilhelmus Martinus Elisabeth van der Struijk in functie getreden.
02-02-2017: Per 27-01-2017 is bestuurder Marinus Lambert Strik uit functie getreden.
13-01-2017: Per 01-01-2017 is gevolmachtigde Albert Leonard Smith in functie getreden.
02-12-2016: Per 01-10-2016 is bestuurder Johannes Gerardus Maria van den Heuvel in functie getreden.
01-12-2016: Per 30-11-2016 is bestuurder 33223386 Amtrada Holding B.V. uit functie getreden.
01-12-2016: Per 30-11-2016 is gevolmachtigde Dorine Maria Dam uit functie getreden.
16-08-2016: Per 01-01-2016 is gevolmachtigde Jens Erik Nielsen in functie getreden.
07-08-2015: Per 23-06-2015 is gevolmachtigde María Salvadora Jiménez Rojas in functie getreden.
08-05-2015: Per 07-04-2015 is bestuurder 33223386 Amtrada Holding B.V. in functie getreden.
28-01-2015: Per 19-01-2015 is bestuurder Dirk Jonker uit functie getreden.
06-11-2014: Per 08-10-2014 is bestuurder Dirk Jonker in functie getreden.
06-11-2014: Per 08-10-2014 is gevolmachtigde Dirk Jonker uit functie getreden.
24-10-2014: Per 08-10-2014 is gevolmachtigde Dirk Jonker in functie getreden.
23-10-2014: Per 08-10-2014 is bestuurder Johannes Wilhelmus Maria Hendriksen uit functie getreden.
03-10-2014: Per 30-09-2014 is gevolmachtigde Rutger Minko van Otterlo in functie getreden.
11-04-2014: Per 01-03-2014 is gevolmachtigde Ted Josephus Paulus Boereboom in functie getreden.
10-03-2014: Per 01-03-2014 is gevolmachtigde Gerrit Jan Kos uit functie getreden.

Other

02-12-2016: Per 26-10-2016 is de bevoegdheid van Bestuurder Marinus Lambert Strik gewijzigd.
27-10-2016: Geplaatst kapitaal gewijzigd in EUR 1.260.000,00 Gestort kapitaal gewijzigd in EUR 1.260.000,00.
27-10-2016: Per 26-10-2016 statuten gewijzigd.
30-09-2014: Per 24-9-2014 statuten gewijzigd.

 

 

Company structure

 

Relations

3

Company

Registration number

Amtrada Holding B.V. (ZAANDAM)

33223386  

| - - Daarnhouwer & Co B.V. (Zaandam)

35026025  

| - - Continaf B.V. (ZAANDAM)

33038089  

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.54

UK Pound

1

INR 89.82

Euro

1

INR 78.86

EURO

1

INR 78.82

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

DNS

 

 

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.