MIRA INFORM REPORT

 

 

Report No. :

496728

Report Date :

09.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

HANDELMAATSCHAPPIJ MAX WOLF B.V.

 

 

Registered Office :

De Amert 204 5462gh Veghel

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

28.12.1989

 

 

Com. Reg. No.:

KvK-nummer: 17108262

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is engaged in Wholesale of packaging materials.

 

 

No. of Employees :

13

 

 

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+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Excellent

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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

Handelmaatschappij Max Wolf B.V.

Operative address

De Amert 204
5462GH VEGHEL
Netherlands

Status

Active

 

Legal form

Private Limited Company

Registration number

KvK-nummer: 17108262

VAT-number

807631474

European VAT-number

NL807631474B01

Year

2016

Mutation

2015

Mutation

2014

Fixed assets

185.696

-25,14 

248.053

43,90 

172.374

Total receivables

1.129.049

-13,19 

1.300.564

10,43 

1.177.750

Total equity

1.792.124

7,30 

1.670.191

2,04 

1.636.866

Short term liabilities

1.971.441

-19,89 

2.460.913

54,81 

1.589.660

Working capital

2.182.128

6,57 

2.047.638

-4,31 

2.139.792

Quick ratio

0,58

9,43 

0,53

-28,38 

0,74

Contact information

 

Company name

Handelmaatschappij Max Wolf B.V.

Trade names

Handelmaatschappij Max Wolf B.V.
Max Wolf & Woerdense Verpakkingen
P.G. Kleinschmidt's Handelmaatschappij
TradeMax Wolf
TradeMax Kleinschmidt

Operative address

De Amert 204
5462GH VEGHEL
Netherlands

Correspondence address

De Amert 204
5462GH VEGHEL
Netherlands

 

Telephone number

0413-343770

Fax number

0413 363485

Email address

info@trademax.nu

Website

www.trademax.nu

 

 

Registration

 

Registration number

KvK-nummer: 17108262

Branch number

000018688233

VAT-number

807631474

European VAT-number

NL807631474B01

Status

Active

First registration company register

1998-09-17

Memorandum

1998-09-17

Establishment date

1989-12-28

 

Legal form

Private Limited Company

Legal person since

1998-09-17

Issued placed capital

EUR 18.151

Paid up share capital

EUR 18.151

 

 

Activities

 

SBI

46696: Wholesale of packaging materials

Exporter

No

Importer

No

 

 

Relations

 

Shareholders

Woerdense Touw- en Zakkenhandel B.V.
De Amert 204
5462GH VEGHEL
Netherlands
Registration number: 16059809
Percentage: 100%

Affiliates

P.G. Kleinschmidt's Handelmaatschappij B.V.
Sluisjesdijk 114 -120
3087AK ROTTERDAM
Netherlands
Registration number: 57117969

 

Companies on same address

Woerdense Touw- en Zakkenhandel B.V.
Registration number: 16059809

Liability statements

Woerdense Touw- en Zakkenhandel B.V.
De Amert 204
5462GH VEGHEL
Netherlands
Registration number: 16059809
date of issue: 2001-02-15
Starting date: 1999-01-01
End date: 2012-10-18

 

 

 

Real Estate

 

Details operative address

Surface area: 3948 m2
Purpose: Industrial function, Office function
Construction year: 1993
Status: Building in use
Under investigation: No

 

 

Management

 

Active management

Woerdense Touw- en Zakkenhandel B.V.
De Amert 204
5462GH VEGHEL
Netherlands
Registration number: 16059809
Competence: Fully authorized
Function: Manager
Starting date: 1998-09-17

 

R.H.E.W.M. Humble Robin Henricus Eduardus Wilhel
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2004-03-19
Date of birth: 1971-02-05, 's-Hertogenbosch, NL

 

H. Griffioen Hugo
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2015-04-03
Date of birth: 1993-01-02, Woerden, NL

 

I. Griffioen Iris
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2015-04-24
Date of birth: 1988-02-05, Woerden, NL

 

 

Employees

 

Year

2016

2015

2014

2013

2012

Annual

13

13

13

16

18

Chamber of Commerce

20

20

 

 

Payments

 

Payments within industry

Last quarter

Last year

Average payment period (days)

37

36

Average delay (days)

16

16

 

Quarter

Not overdue

1-30

31-60

61-90

91-120

121+

2018 Q1

65,00%

29,00%

5,00%

1,00%

0,00%

1,00%

2017 Q4

73,00%

21,00%

3,00%

1,00%

1,00%

2,00%

2017 Q3

61,00%

31,00%

4,00%

2,00%

0,00%

1,00%

2017 Q2

54,00%

38,00%

5,00%

1,00%

0,00%

1,00%

2017 Q1

60,00%

27,00%

6,00%

3,00%

2,00%

2,00%

 

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

0,58

0,53

0,74

0,80

0,54

Current ratio

2,11

1,83

2,35

1,55

1,42

Working capital/ balance total

0,50

0,43

0,55

0,35

0,29

Equity / balance total

0,41

0,35

0,42

0,37

0,30

Equity / Fixed assets

9,65

6,73

9,50

14,75

24,37

Equity / liabilities

0,70

0,54

0,72

0,59

0,43

Balance total / liabilities

1,70

1,54

1,72

1,59

1,43

Working capital

2.182.128

2.047.638

2.139.792

1.507.889

1.547.558

Equity

1.792.124

1.670.191

1.636.866

1.613.679

1.613.767

Mutation equity

7,30

2,04

1,44

-0,01

Mutation short term liabilities

-19,89

54,81

-41,97

-26,35

Return on total assets (ROA)

-0,04

1,24

Return on equity (ROE)

-0,12

4,09

Gross margin

1.672.352

1.908.554

Operating result

92.926

189.979

Net result after taxes

-88

51.741

Cashflow

26.608

84.116

EBIT

92.926

189.979

EBITDA

119.622

222.354

Summary

The 2016 financial result structure is a postive working captial of 2.182.128 euro, which is in agreement with 50 % of the total assets of the company.
The working capital has increased with 6.57 % 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 2.11. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2016 of the company was 0.58. 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 2.047.638 euro, which is in agreement with 43 % of the total assets of the company.
The working capital has diminished with -4.31 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.
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 1.83. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2015 of the company was 0.53. 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

Handelmaatschappij Max Wolf B.V.
De Amert 204
5462GH VEGHEL
Netherlands
Registration number: 17108262

 

 

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

Tangible fixed assets

185.696

248.053

172.374

109.378

66.209

Fixed assets

185.696

248.053

172.374

109.378

66.209

Total stock

3.014.736

3.200.250

2.548.841

2.057.553

3.264.250

Accounts receivable

725.873

847.105

1.115.778

Other receivables

451.877

1.331.020

758.518

Total receivables

1.129.049

1.300.564

1.177.750

2.178.125

1.874.296

Liquid funds

9.784

7.737

2.861

11.662

128.577

Current assets

4.153.569

4.508.551

3.729.452

4.247.340

5.267.123

Total assets

4.339.265

4.756.604

3.901.826

4.356.718

5.333.332

Issued capital

18.151

18.151

18.151

18.151

18.151

Other reserves

1.773.973

1.652.040

1.618.715

1.595.528

1.595.616

Total reserves

1.773.973

1.652.040

1.618.715

1.595.528

1.595.616

Total equity

1.792.124

1.670.191

1.636.866

1.613.679

1.613.767

Provisions

3.588

Long term interest yielding debt

575.700

625.500

675.300

Long term liabilities

575.700

625.500

675.300

Accounts payable

86.202

141.826

264.037

Other short term liabilities

1.503.458

2.597.625

3.455.528

Short term liabilities

1.971.441

2.460.913

1.589.660

2.739.451

3.719.565

Total short and long term liabilities

2.547.141

3.086.413

2.264.960

2.743.039

3.719.565

Total liabilities

4.339.265

4.756.604

3.901.826

4.356.718

5.333.332

Summary

The total assets of the company decreased with -8.77 % between 2015 and 2016.
This downturn is mainly retrievable in the fixed asset decrease of -25.14 %.
The asset reduction is in contrast with the equity growth of 7.3 %. Due to this the total debt decreased with -17.47 %.
In 2016 the assets of the company were 4.28 % composed of fixed assets and 95.72 % by current assets. The assets are being financed by an equity of 41.3 %, and total debt of 58.7 %.

The total assets of the company increased with 21.91 % between 2014 and 2015.
The total asset increase is retrievable in the fixed asset growth of 43.9 %.
The asset growth has mainly been financed by a debt increase of 36.27 %. The Net Worth, however, grew with 2.04 %.
In 2015 the assets of the company were 5.21 % composed of fixed assets and 94.79 % by current assets. The assets are being financed by an equity of 35.11 %, and total debt of 64.89 %.

 

 

Profit and loss

 

Year

2013

2012

Gross margin

1.672.352

1.908.554

Wages and salaries

606.373

718.819

Amorization and depreciation

26.696

32.375

other operating costs

946.357

967.381

Operating expenses

1.579.426

1.718.575

Operating result

92.926

189.979

Financial income

16.622

Financial expenses

140.612

Financial result

-94.864

-123.990

Result on ordinary operations before taxes

-1.938

65.989

Taxation on the result of ordinary activities

-1.850

14.248

Result of ordinary activities after taxes

-88

51.741

Net result

-88

51.741

 

 

Analysis

 

Branch (SBI)

Wholesale of packaging materials (SBI code 46696)

Region

Noord-Oost-Brabant

Summary

In the Netherlands 13324 of the companies are registered with the SBI code 46696
In the region Noord-Oost-Brabant 282 of the companies are registered with the SBI code 46696
In the Netherlands 242 of the bankrupcties are published within this sector
In the region Noord-Oost-Brabant 4 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 Noord-Oost-Brabant is normal

Year

2016

Company

Company

Equity

137.165

1.792.124 

Working capital

114.354

2.182.128 

Balance total

487.356

4.339.265 

Quick ratio

1,22

0,58 

Current ratio

1,34

2,11 

Equity / balance total

0,40

0,41 

 

 

Publications

 

Deposits

22-08-2017: De jaarrekening over 2016 is gepubliceerd.
26-08-2016: De jaarrekening over 2015 is gepubliceerd.
12-08-2015: De jaarrekening over 2014 is gepubliceerd.
08-08-2014: De jaarrekening over 2013 is gepubliceerd.
18-06-2013: De jaarrekening over 2012 is gepubliceerd.

Functions

08-12-2015: Per 01-08-2015 is gevolmachtigde Hendrikus Antonius Petrus Maria Kooijmans uit functie getreden.
05-06-2015: Per 24-04-2015 is gevolmachtigde Iris Griffioen in functie getreden.
05-06-2015: Per 03-04-2015 is gevolmachtigde Hugo Griffioen in functie getreden.

 

 

Company structure

 

Relations

6

Company

Registration number

Stichting Administratiekantoor Griffioen (VEGHEL)

17151715  

| - - G & O Holding B.V. (VEGHEL)

16081828  

| - - | - - Woerdense Touw- en Zakkenhandel B.V. (VEGHEL)

16059809  

| - - | - - | - - P.G. Kleinschmidt's Handelmaatschappij B.V. (ROTTERDAM)

57117969  

| - - | - - | - - Handelmaatschappij Max Wolf B.V. (VEGHEL)

17108262  

| - - QVE Holding Woerden B.V. (VEGHEL)

16081551  

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.92

UK Pound

1

INR 90.22

Euro

1

INR 80.54

Euro

1

INR 80.19

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

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)

 

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.