MIRA INFORM REPORT

 

 

Report No. :

498877

Report Date :

22.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

JEWEL GOLDI BVBA 

 

 

Registered Office :

Hoveniersstraat  30-Bus 260, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

13.11.2003

 

 

Com. Reg. No.:

861938733

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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. Service and high-tech industries are concentrated in the northern Flanders region while the southern region of Wallonia is home to industries like coal and steel manufacturing. Belgium is completely 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, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU.

Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of industrial differences between the regions. The economy largely recovered from the March 2016 terrorist attacks that 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 104% 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 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. In 2017, Belgium approved a tax reform plan to ease corporate rates from 33% to 29% by 2018 and down to 25% by 2020. The tax plan also included benefits for innovation and SMEs, intended to spur competitiveness and private investment.

 

Source : CIA

 

 

Company Name

 

JEWEL GOLDI BVBA 

 

 

Company summary

 

Business  number

861938733

Branche  Unit  Number

2134387505

Company  name

JEWEL  GOLDI  BVBA

Address

HOVENIERSSTRAAT  30-BUS  260

2018 ANTWERPEN

Date  of  establishment

13/11/2003

Telephone  number

3232273266

Mobile  number

-

Fax  number

-

Liable  for  VAT

yes

VAT  Number

BE.0861.938.733  Check  VAT  number

 

 

Commentary

 

The business  was  established  over  14  years  ago.

No employees  are  recorded  for  this  business.

The business  has  been  at  the  address  for  over  14  years. Operating Result in the latest trading period increased 173% on the previous trading period. Net Worth increased by 39% during the latest trading period.

A  43%  growth  in  Total  Assets  occurred  during  the latest  trading  period.

Pre-tax  profits  increased  by  449%  compared  to the previous  trading period. The business saw an increase in their Cash Balance of 64% during the latest trading period.

 

 

Annual accounts

 

DATE  OF  LATEST 

ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

20,322,165

410,162

1,200,645

3,537,574

31/12/2015

20,323,915

74,590

859,464

1,276,177

31/12/2014

19,111,788

67,790

807,169

1,217,207

Accounts

 

 

 

 

DATE  OF  LATEST 

ACCOUNTS

BALANCE  TOTAL

NUMBER  OF 

EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

6,640,595

-

555,380

351,528

31/12/2015

4,636,769

-

555,380

60,376

31/12/2014

4,293,178

-

555,380

52,502

 

 

PAYMENT EXPECTATIONS

 

Past  payments

 

Payment  expectation  days

41

Industry  average  payment

expectation  days

201.61

Industry  average  day  sales

outstanding

211.13

Day  sales  outstanding

71.17

 

 

 

 

COURT DATA SUMMARY

 

BANKRUPTCY DETAILS

 

Court action type

no

 

PROTESTED BILLS

 

Bill  amount

-

 

NSSO DETAILS

 

Date  of  summons

-

 

 

COMPANY INFORMATION  

 

Business  number

861938733

Company  name

JEWEL  GOLDI  BVBA

Fax  number

-

Date  founded

13/11/2003

Company  status

active

Company  type

Private limited liability company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2016

Activity  code

46761

Number  of  staff

-

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

13/11/2003

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

34,763

-18.30

42,551

2277

1,790

-53.05

3,812

-40.73

6,433

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

34,763

-18.30

42,551

2277

1,790

-53.05

3,812

-40.73

6,433

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

2,541

900

254

-76.62

1,087

-59.94

2,712

-45.05

4,936

Furniture  &  Vehicles

32,222

-23.82

42,297

5914

703

-36.07

1,100

-26.51

1,497

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

6,605,833

43.79

4,594,218

7.06

4,291,389

2.74

4,177,119

32.52

3,151,984

Inventories

2,581,235

220

804,674

0.28

802,387

-49.27

1,581,536

154

621,741

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

2,581,235

220

804,674

0.28

802,387

-49.27

1,581,536

154

621,741

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

3,962,465

5.66

3,750,188

8.50

3,456,538

63.98

2,107,930

13.08

1,864,116

Other  amounts  receivable

3,203

7.39

2,983

-1.57

3,030

-1.09

3,064

-27.54

4,228

Cash

58,001

64.98

35,156

19.44

29,433

-93.93

484,535

-26.79

661,846

Miscellaneous  current  assets

928

-23.83

1,218

0

 

-100

54

0.47

54

Total  Assets

6,640,595

43.22

4,636,769

8.00

4,293,178

2.68

4,180,931

32.37

3,158,417

 

 

LIABILITIES

 

Total  shareholders  equity

1,200,645

39.70

859,464

6.48

807,169

76.74

456,690

7.79

423,680

Issued  share  capital

555,380

0

555,380

0

555,380

117

255,380

0

255,380

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

645,265

112

304,084

20.77

251,789

25.08

201,310

19.61

168,300

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

5,439,950

44.02

3,777,305

8.36

3,486,010

-6.40

3,724,242

36.18

2,734,737

Other  long  term  loans

2,371,691

416

459,263

11.52

411,828

-31.22

598,776

-1.25

606,336

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

2,371,691

416

459,263

11.52

411,828

-31.22

598,776

-1.25

606,336

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

672,388

-63.31

1,832,380

11.47

1,643,865

1346

113,647

-84.47

731,810

Trade  creditors

2,225,176

61.36

1,379,045

3.79

1,328,695

-53.84

2,878,622

126

1,272,472

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

69,247

1293

4,969

-71.39

17,369

352

3,835

14.84

3,339

Miscellaneous  current  liabilities

101,448

-0.20

101,647

20.64

84,253

-34.87

129,362

7.11

120,780

Total  current  liabilities

3,068,259

-7.53

3,318,041

7.93

3,074,182

-1.64

3,125,466

46.85

2,128,401

Total  Liabilities

6,640,595

43.22

4,636,769

8.00

4,293,178

2.68

4,180,931

32.37

3,158,417

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

2.02

445

0.37

5.71

0.35

-5.41

0.37

68.18

0.22

Return  on  capital  employed

11.48

102

5.66

1.80

5.56

44.79

3.84

18.89

3.23

Return  on  total  assets  employed

6.18

283

1.61

1.90

1.58

62.89

0.97

-7.62

1.05

Return  on  net  assets  employed

34.16

293

8.68

3.33

8.40

-5.41

8.88

12.98

7.86

Sales  /  net  working  capital

5.74

-63.97

15.93

1.46

15.70

51.11

10.39

-31.06

15.07

Stock  turnover  ratio

12.70

220

3.96

-5.71

4.20

-70.97

14.47

259

4.03

Creditor  days

41.00

64.00

25.00

-2.42

25.62

-73.55

96.85

217

30.48

Debtor  days

71.17

5.67

67.35

2.03

66.01

-6.26

70.42

59.68

44.10

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

2.15

55.80

1.38

-1.43

1.40

4.48

1.34

-9.46

1.48

Liquidity  ratio  /  acid  ratio

1.31

14.91

1.14

0.88

1.13

36.14

0.83

-30.25

1.19

Current  debt  ratio

2.56

-33.68

3.86

1.31

3.81

-44.30

6.84

36.25

5.02

Cashflow

351,528

482

60,376

15.00

52,502

47.35

35,630

20.66

29,530

Net  worth

1,200,645

39.70

859,464

6.48

807,169

76.74

456,690

7.79

423,680

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

253.54

-4.91

266.64

4.70

254.68

63.26

156.00

-50.61

315.84

Equity  in  percentage

18.08

-2.48

18.54

-1.38

18.80

72.16

10.92

-18.57

13.41

Total  debt  ratio

4.53

3.19

4.39

1.62

4.32

-46.99

8.15

26.36

6.45

Working  capital

3,537,574

177

1,276,177

4.84

1,217,207

15.74

1,051,653

2.74

1,023,583

 

 

PROFIT & LOSS

 

Operating  Income

20,322,413

-0.01

20,324,163

6.34

19,112,036

74.91

10,926,679

-29.19

15,430,337

Turnover

20,322,165

-0.01

20,323,915

6.34

19,111,788

74.91

10,926,379

-29.19

15,429,730

Total  operating  expenses

19,807,154

-1.63

20,135,305

6.38

18,927,521

74.48

10,848,186

-28.81

15,238,978

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

20,322,413

0.93

20,135,553

6.38

18,927,769

74.47

10,848,486

-28.81

15,239,585

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

-

-

-

-

-

-

0

-

0

Director  remuneration

-

-

-

-

-

-

37,200

-

-

Amortization  and  depreciation

10,347

28.05

8,080

299

2,023

-22.81

2,620

23.35

2,124

Operating  result

515,011

173

188,609

2.36

184,267

135

78,193

-59.01

190,752

Total  financial  income

54

14231

0

-98.00

19

-48.83

37

-66.66

111

Total  financial  expenses

104,904

-8.00

114,020

-2.13

116,496

209

37,673

-76.09

157,566

Results  on  ordinary  operations before  taxation

410,162

449

74,590

10.03

67,790

67.15

40,557

21.81

33,296

Extraordinary Income 

-

-

-

-

-

-

-

-

-

Extraordinary  Charges items

-

-

-

-

-

-

-

-

-

Extraordinary  items

-

-

-

-

-

-

-

-

-

Results  for  the  Year  Before Taxation

410,162

449

74,590

10.03

67,790

67.15

40,557

21.81

33,296

Taxation

68,981

209

22,294

28.79

17,311

129

7,547

28.12

5,891

Results  on  ordinary  operations after  taxation

341,181

552

52,295

3.60

50,479

52.92

33,010

20.45

27,406

Net  result

341,181

552

52,295

3.60

50,479

52.92

33,010

20.45

27,406

Profit  (Loss)  for  the  Year  to  be appropiated

341,181

552

52,295

3.60

50,479

52.92

33,010

20.45

27,406

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry comparison

 

Industry  comparison

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

industry  average  credit rating

69.43

Industry  average  credit  limit

175503.67

 

 

Payment Information

 

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

 

Payment expectations

 

Payment  expectation  days

41

Day  sales  outstanding

71.17

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

201.61

expectation  days

 

Industry  average  day  sales

211.13

outstanding

 

 

 

INDUSTRY QUARTILE ANALYSIS

 

PAYMENT EXPECTATIONS

 

Company  result

41

Lower

129.55

Median

58.70

Upper

25.82

 

 

DAY SALES OUTSTANDING

 

Company  result

71.17

Lower

136.36

Median

82.06

Upper

44.75

 

 

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

 

 

Companies that match this address

 

No Companies Match this address

 

 

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

01/10/2009

Street

22 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Girishkumar  Patel

 

 

FORMER DIRECTOR DETAILS

 

Name

Dinesh  Narola

Position

Permanent  representative  legal  entity

Start  Date

13/11/2003

End  Date

30/11/2013

Street

12 QUINTEN  MATSIJSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

D-GOLDI  BVBA

Position

Manager

Start  Date

13/11/2003

End  Date

30/11/2013

Street

-

Post code

-

Country

-

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.22

UK Pound

1

INR 91.33

Euro

1

INR 79.96

EUR

1

INR 80.22

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

NIT

 

 

 

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.