MIRA INFORM REPORT

Report No. :	500708
Report Date :	27.03.2018

IDENTIFICATION DETAILS

Name :	IDEAL IMPEX BVBA

Registered Office :	Hoveniersstraat 30-Bus 124, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	30.06.2017

Date of Incorporation :	28.08.2014

Com. Reg. No.:	560905666

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. 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 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

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 summary

Business number 560905666

Branche Unit Number 2234280479

Company name IDEAL IMPEX BVBA

Address HOVENIERSSTRAAT 30-BUS 124

2018 ANTWERPEN

Date of establishment 28/08/2014

Telephone number -

Mobile number -

Fax number -

Liable for VAT Yes

VAT Number BE.0560.905.666 Check VAT number

Commentary

The business was established over 3 years ago.

No employees are recorded for this business.

The business has been at the address for over 3 years.

Operating Result in the latest trading period increased 74% on the previous trading period.

A 50% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 103% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 42% during the latest trading period.

ANNUAL ACCOUNTS

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
30/06/2017		23,431	49,652	49,652
30/06/2016		11,522	41,245	40,254
30/06/2015	2,684,106	18,955	32,455	31,464

ACCOUNTS
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
30/06/2017	1,607,565	-	20,000	20,378
30/06/2016	1,069,685	-	20,000	8,790
30/06/2015	1,105,002	-	20,000	13,793

Payment expectations
Past payments		Payment expectation days	--
Industry average payment expectation days	202.02	Industry average day sales outstanding	211.04
Day sales outstanding	--

Court data summary

BANKRUPTCY DETAILS
Court action type	No
PROTESTED BILLS
Bill amount
NSSO DETAILS
Date of summons	--

Joint Industrial Committee (JIC)

Significant Events

Event Date 27/04/2015

Event Description Re-appointment of director(s)

Event Details Commentaar 27-04-2015: Herbenoemd als zaakvoerder: Parekh Saunakkumar.

Company accounts

Assets
Annual accounts	30-06-2017	%	30-06-2016	%	30-06-2015
Weeks	52		52		44
Currency	EUR		EUR		EUR
Total fixed assets	0	-100	991	0	991
Intangible fixed assets	0	-	0	-	0
Tangible fixed assets	0	-100	991	0	991
Land & building	0	-	0	-	0
Plant & machinery	0	-	0	-	0
Furniture & Vehicles	0	-100	991	0	991
Leasing & Other Similar Rights	0	-	0	-	0
Other tangible assets	0	-	0	-	0
Financial fixed assets	0	-	0	-	0
Total current assets	1,607,565	50.42	1,068,695	-3.20	1,104,011
Inventories	694,597	-19.17	859,286	-2.23	878,915
Raw materials & consumables	0	-	0	-	0
Work in progress	0	-	0	-	0
Finished goods	0	-	0	-	0
Other stocks	694,597	-19.17	859,286	-2.23	878,915
Trade debtors	884,816	404	175,288	-16.29	209,407
Other amounts receivable	13,785	53.07	9,006	2765	314
Cash	14,366	-42.79	25,109	63.31	15,375
Miscellaneous current assets	0	-100	5	-	0
Total Assets	1,607,565	50.28	1,069,685	-3.20	1,105,002
Liabilities
Total shareholders equity	49,652	20.38	41,245	27.08	32,455
Issued share capital	20,000	0	20,000	0	20,000
Share premium account	0	-	0	-	0
Revaluation reserve	0	-	0	-	0
Reserves	29,652	39.57	21,245	70.57	12,455
Provisions for Liabilities & Charges	0	-	0	-	0
Deffered taxes	0	-	0	-	0
Creditors	1,557,913	51.48	1,028,441	-4.11	1,072,547
Other long term loans	0	-	0	-	0
Other long term liabilities	0	-	0	-	0
Total long term debts	0	-	0	-	0
Current portion of long term debt	0	-	0	-	0
Financial debts	0	-	0	-	0
Trade creditors	642,715	531	101,701	-31.75	149,004
Amounts Payable for Taxes, Remuneration & Social Security	4,422	59.29	2,776	-59.18	6,800
Miscellaneous current liabilities	910,776	-1.43	923,964	0.79	916,743
Total current liabilities	1,557,913	51.48	1,028,441	-4.11	1,072,547
Total Liabilities	1,607,565	50.28	1,069,685	-3.20	1,105,002

RATIO ANALYSIS
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	0.71
Return on capital employed	47.19	68.90	27.94	-52.16	58.40
Return on total assets employed	1.46	35.19	1.08	-37.21	1.72
Return on net assets employed	47.19	68.90	27.94	-52.16	58.40
Sales / net working capital	-	-	-	-	85.31
Stock turnover ratio	-	-	-	-	32.75
Creditor days	-	-	-	-	20.44
Debtor days	-	-	-	-	28.48
SHORT TERM STABILITY
Current ratio	1.03	-0.96	1.04	0.97	1.03
Liquidity ratio / acid ratio	0.59	195	0.20	-4.76	0.21
Current debt ratio	31.38	25.82	24.94	-24.54	33.05
Cashflow	20,378	131	8,790	-36.28	13,793
Net worth	49,652	20.38	41,245	27.08	32,455
LONG TERM STABILITY
Gearing	-	-	-	-	-
Equity in percentage	3.09	-19.95	3.86	31.29	2.94
Total debt ratio	31.38	25.82	24.94	-24.54	33.05
Working capital	49,652	23.35	40,254	27.93	31,464

PROFIT & LOSS
Operating Income	-	-	-	-	-
Turnover	-	-	-	-	2,684,106
Total operating expenses	-	-	-	-	2,660,704
Gross Operating Margin	28,384	75.53	16,170	-36.43	25,435
Operating Charges	0	-	-	-	-
Employee costs	-	-	-	-	-
Wages and salary	-	-	-	-	-
Employee pension costs	-	-	-	-	-
Social security contributions	-	-	-	-	-
Other employee costs	-	-	-	-	-
Director remuneration	-	-	-	-	-
Amortization and depreciation	991	-	-	-	1,338
Operating result	26,196	74.22	15,036	-35.75	23,402
Total financial income	0	-99	5	-	-
Total financial expenses	2,765	-21.42	3,518	-20.88	4,447
Results on ordinary operations before taxation	23,431	103	11,522	-39.21	18,955
Extraordinary Income	-	-	-	-	-
Extraordinary Charges	-	-	-	-	-
Extraordinary items	-	-	-	-	-
Results for the Year Before Taxation	23,431	103	11,522	-39.21	18,955
Taxation	4,044	47.98	2,733	-57.96	6,500
Results on ordinary operations after taxation	19,387	120	8,790	-29.43	12,455
Net result	19,387	120	8,790	-29.43	12,455
Profit (Loss) for the Year to be appropriated	19,387	120	8,790	-29.43	12,455
Dividends	-	-	-	-	-

Industry comparison

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

Payment expectations
Payment expectation days	--
Day sales outstanding	--

Industry comparison
Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	202.02
Industry average day sales outstanding	211.04
Industry quartile analysis
Payment expectations
Company result	--
Lower	132.04
Median	58.70
Upper	26.01

Day sales outstanding
Company result	--
Lower	136.36
Median	81.74
Upper	44.21

Shareholder details

Group Structure

No group structure for this company.

Minority Shareholders

No minority shareholder found

Minority Interests

No minority interest found

Individual Shareholders

SHAREHOLDER NAME
Forename	Saunakkumar (Saunak)	Middle name	-
Surname	Parekh

SHAREHOLDER DETAILS
Start date	28/08/2014(estimated)	End date	-
Percentage owned	99%

SHAREHOLDER ADDRESS
Street name	Van Leriusstraat	House number	39
Postal town	Antwerpen
Post code	2018	Country	Belgium

SHAREHOLDER NAME
Forename	Nitin	Middle name	-
Surname	Kakadiya

SHAREHOLDER DETAILS
Start date	28/08/2014(estimated)	End date	-
Percentage owned	1%

SHAREHOLDER ADDRESS
Street name	Lange Herentalsestraat	House number	122
Postal town	Antwerpen
Post code	2018	Country	Belgium

Companies that match this address

Business Number

Company Name

Date Of Accounts

827960623

SPARKDIAM BVBA BVBA

31/12/2016

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	27/04/2015
Country	India

Name	Saunakkumar Parekh

FORMER DIRECTOR DETAILS
Name	Nitin Kakadiya
Position	Manager
Start Date	28/08/2014
End Date	17/09/2015
Street	122 LANGE HERENTALSESTRAAT ANTWERPEN
Post code	2018
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.90
UK Pound	1	INR 91.87
Euro	1	INR 80.25
Euro	1	INR 80.61

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

INFORMATION DETAILS

Analysis Done by :	VIV

Report Prepared by :	TPT

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.

Business Number	560905666	Company Name	IDEAL IMPEX BVBA
Fax Number	-	Date Founded	28/08/2014
Company Status	active	Company Type	Private Limited Liability Company
Currency	Euro (€)	Date of Latest Accounts	30/06/2017
Activity Code	46761	Number of Staff	-
Activity Description	Wholesale of diamonds and other precious stones
Belgian Bullettin Of Acts Publications	Moniteur Belge