MIRA INFORM REPORT

 

 

Report No. :

511925

Report Date :

28.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

DIASQUA EUROPE BVBA

 

 

Registered Office :

Hoveniersstraat 30-Bus 101, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

06.02.2008

 

 

Com. Reg. No.:

895820536

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Wholesale of Diamonds and Other Precious Stones

 

 

No. of Employees :

2

 

 

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 summary

 

Business number                     895820536

Branche Unit Number               2168921384

Company name                        DIASQUA EUROPE BVBA

Address                                   HOVENIERSSTRAAT 30-BUS 101

2018 ANTWERPEN

Date of establishment               06/02/2008

Telephone number                   3232268127

Mobile number                         -

Fax number                              032268126

Liable for VAT                          Yes

VAT Number                            BE.0895.820.536 Check VAT number

 

 

Commentary

 

The business was established over 10 years ago.

The business has 2 employees.

The business has been at the address for over 7 years.

Operating Result in the latest trading period increased 25% on the previous trading period.

Pre-tax profits increased by 84% compared to the previous trading period.

The business saw an increase in their Cash Balance of 158% during the latest trading period.

 

 

ANNUAL ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

10,569,966

84,677

547,715

252,380

31/12/2015

 

45,896

491,530

207,911

31/12/2014

 

42,335

463,494

178,222

 

 

 

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

7,071,790

2

304,000

83,956

31/12/2015

6,133,418

-

304,000

56,428

31/12/2014

5,141,855

-

304,000

62,708

 

 

 

Payment expectations

 

Past payments

 

Payment expectation days

215.54

Industry average payment expectation days

202.92

Industry average day sales outstanding

211.44

Day sales outstanding

187.84

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

 

Court action type

No

 

 

 

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

--

 

 

 

 

 

Company information

 

Business  Number

895820536

Company  Name

DIASQUA  EUROPE  BVBA

Fax  Number

032268126

Date  Founded

06/02/2008

Company  Status

active

Company  Type

Private  Limited  Liability Company

Currency

Euro  (€)

Date  of  Latest  Accounts

31/12/2016

Activity  Code

46761

Number  of  Staff

2

Activity  Description

Wholesale of diamonds and other precious stones

 

 

Belgian  Bullettin  Of  Acts Publications

Moniteur  Belge

 

 

 

 

Joint Industrial Committee (JIC)

 

JIC  Code

200

Description Category

Additional  joint  committee  for  the  employees

 

 

Significant  Events

 

Event  Date

31/12/2010

Event  Description

proposal  to  change  address  filed

 

 

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

506,030

-3.01

521,715

-5.12

549,843

-4.96

578,522

-4.67

606,869

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

500,780

-3.97

521,465

-5.12

549,593

-4.96

578,272

-4.67

606,619

Land  &  building

492,968

-4.50

516,170

7.17

481,655

-3.17

497,447

-3.08

513,240

Plant  &  machinery

4,445

351

986

-64.35

2,764

-45.74

5,094

-28.18

7,092

Furniture  &  Vehicles

3,367

-21.86

4,310

-17.94

5,252

-15.21

6,194

-13.20

7,137

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-100

59,922

-13.83

69,536

-12.15

79,151

Financial  fixed  assets

5,250

2000

250

0

250

0

250

0

250

Total  current  assets

6,565,759

17.00

5,611,702

22.21

4,592,013

-2.09

4,689,815

3.29

4,540,292

Inventories

500,524

-41.23

851,665

68.58

505,210

712

62,144

-80.14

312,834

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

500,524

-

0

-

0

-

0

-

0

Other  stocks

0

-100

851,665

68.58

505,210

712

62,144

-80.14

312,834

Trade  debtors

5,439,666

20.49

4,514,498

12.15

4,025,565

-9.26

4,436,270

6.58

4,162,349

Other  amounts  receivable

1,445

-47.87

2,771

42.13

1,950

-5.63

2,066

2.37

2,018

Cash

621,899

158

240,621

309

58,723

-68.43

185,981

200

61,844

Miscellaneous  current  assets

2,226

3.66

2,148

280

565

-83.16

3,354

168

1,247

Total  Assets

7,071,790

15.30

6,133,418

19.28

5,141,855

-2.40

5,268,337

2.35

5,147,162

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

547,715

11.43

491,530

6.05

463,494

7.92

429,465

11.44

385,394

Issued  share  capital

304,000

0

304,000

0

304,000

0

304,000

0

304,000

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

243,715

29.96

187,530

17.58

159,494

27.12

125,465

54.15

81,394

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

6,524,074

15.64

5,641,887

20.60

4,678,361

-3.32

4,838,871

1.62

4,761,768

Other  long  term  loans

210,695

-11.51

238,095

-10.01

264,571

-8.74

289,903

-7.60

313,739

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

210,695

-11.51

238,095

-10.01

264,571

-8.74

289,903

-7.60

313,739

Current  portion  of  long  term  debt

27,366

-2.44

28,050

4.18

26,925

5.44

25,536

3.08

24,772

Financial  debts

1,677

-

0

-

0

-

0

-

0

Trade  creditors

6,187,972

16.14

5,328,019

24.05

4,295,123

-3.62

4,456,245

2.29

4,356,397

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

37,500

368

8,000

100

4,000

-57.89

9,500

58.33

6,000

Miscellaneous  current  liabilities

58,863

48.18

39,724

-54.73

87,743

52.10

57,687

-5.21

60,859

Total  current  liabilities

6,313,379

16.83

5,403,792

22.43

4,413,791

-2.97

4,548,968

2.27

4,448,028

Total  Liabilities

7,071,790

15.30

6,133,418

19.28

5,141,855

-2.40

5,268,337

2.35

5,147,162

 

 

RATIO  ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.80

-

-

-

-

-

-

-

-

Return  on  capital  employed

11.17

77.58

6.29

8.26

5.81

-28.62

8.14

16.12

7.01

Return  on  total  assets  employed

1.20

60.0

0.75

-8.54

0.82

-26.13

1.11

16.84

0.95

Return  on  net  assets  employed

15.46

65.52

9.34

2.30

9.13

-33.06

13.64

7.23

12.72

Sales  /  net  working  capital

41.88

-

-

-

-

-

-

-

-

Stock  turnover  ratio

4.74

-

-

-

-

-

-

-

-

Creditor  days

215.54

-

-

-

-

-

-

-

-

Debtor  days

187.84

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.04

0

1.04

0

1.04

0.97

1.03

0.98

1.02

Liquidity  ratio  /  acid  ratio

0.96

9.09

0.88

-5.38

0.93

-8.82

1.02

7.37

0.95

Current  debt  ratio

11.53

4.91

10.99

15.44

9.52

-10.10

10.59

-8.23

11.54

Cashflow

83,956

48.78

56,428

-10.01

62,708

-14.03

72,940

6.99

68,173

Net  worth

547,715

11.43

491,530

6.05

463,494

7.92

429,465

11.44

385,394

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

43.77

-19.17

54.15

-13.90

62.89

-14.38

73.45

-16.38

87.84

Equity  in  percentage

7.75

-3.25

8.01

-11.10

9.01

10.55

8.15

8.81

7.49

Total  debt  ratio

11.91

3.75

11.48

13.78

10.09

-10.47

11.27

-8.82

12.36

Working  capital

252,380

21.39

207,911

16.66

178,222

26.54

140,847

52.66

92,264

 

 

PROFIT  &  LOSS

 

Operating  Income

10,575,144

-

-

-

-

-

-

-

-

Turnover

10,569,966

-

-

-

-

-

-

-

-

Total  operating  expenses

10,478,792

-

-

-

-

-

-

-

-

Gross  Operating  Margin

-

-

105,489

-17.67

128,123

37.93

92,893

0.78

92,172

Operating  Charges

10,574,869

-

-

-

-

-

-

-

-

Employee  costs

76,098

-

-

-

-

-

-

-

-

Wages  and  salary

61,390

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

607

-

-

-

-

-

-

-

-

Other  employee  costs

14,102

-

-

-

-

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

27,771

-2.19

28,392

-1.00

28,679

-0.66

28,868

-2.99

29,757

Operating  result

91,174

25.12

72,871

-23.49

95,243

58.91

59,935

2.93

58,229

Total  financial  income

15,481

20314

76

9147

1

-99

13,599

47.19

9,239

Total  financial  expenses

22,252

-17.74

27,050

-48.87

52,909

253

14,962

-18.92

18,454

Results  on  ordinary  operations  before  taxation

84,677

84.50

45,896

8.41

42,335

-27.72

58,572

19.50

49,014

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

275

-

-

-

-

-

-

-

-

Extraordinary  items

-275

-

-

-

-

-

0

-

0

Results  for  the  Year  Before  Taxation

84,402

83.90

45,896

8.41

42,335

-27.72

58,572

19.50

49,014

Taxation

28,217

57.99

17,860

115

8,306

-42.72

14,500

36.81

10,599

Results  on  ordinary  operations  after  taxation

56,460

101

28,036

-17.61

34,029

-22.79

44,071

14.72

38,416

Net  result

56,185

100

28,036

-17.61

34,029

-22.79

44,071

14.72

38,416

Profit  (Loss)  for  the  Year  to  be  appropiated

56,185

100

28,036

-17.61

34,029

-22.79

44,071

14.72

38,416

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social BALANCE SHEET DETAILS

 

Social  Balance  Sheet

 

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

2

Part-time  Employees

-

Total  Fte  Employees

2

 

 

Number  of  hours  worked

 

Full-time  Employees

3,352

Part-time  Employees

-

Total

3,352

 

 

Personnel  Charges

 

Full-time  Employees

76,098

Part-time  Employees

-

Total

76,098

Benefits  In  Addition  To  Wages

-

 

 

During  the  previous  reporting  year Average  number  employees  in  Fte

-

Actual  working  hours

-

Personnel  Charges

-

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

 

Full-Time

Part-Time

Total  Fte

Unlimited  Duration Contracts

2

-

2

 

 

Gender  and  Education

 

 

 

Level

 

 

 

Men

Full-Time

 

Part-Time

Total  Fte

Higher  education  (non university)

1

-

1

 

 

 

 

Women

Full-Time

 

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

1

-

1

 

 

Working  Category

 

Full-Time

Part-Time

Total  Fte

White  collar  worker

2

-

2

Blue  collar  worker

-

-

-

 

 

New  staff  and  leavers

Full-Time

 

Part-Time

Total  Fte

New  Starters

2

-

2

Leavers

-

-

-

 

 

Industry comparison

 

Activity code

46761

Activity description

Wholesale of diamonds and other precious stone3s

 

 

Payment expectations

 

Payment expectation days

215.54

Day sales outstanding

187.84

 

 

Industry comparison  

 

Activity code

46761

Activity description

Wholesale of diamonds and other precious stone3s

Industry average payment expectation days

202.92

Industry average day sales outstanding

211.44

 

Industry quartile analysis

 

Payment expectations

 

Company result

215.54

Lower

133.45

Median

58.70

Upper

25.03

 

 

Day sales outstanding

 

Company result

187.84

Lower

135.55

Median

81.10

Upper

44.49

 

Shareholder details

 

Group Structure

No group structure of this company.

 

 

Minority Shareholders

No minority shareholder found

 

 

Minority Interests

No minority interest found

 

 

Individual Shareholders

SHAREHOLDER  NAME

 

 

 

Forename

Nimesh

Middle  name

-

Surname

Mehta

 

 

 

 

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

05/11/2009(estimated)

End  date

-

Percentage  owned

100%

 

 

 

 

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

-

House  number

-

Postal  town

-

 

 

Post  code

-

Country

India

 

 

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

06/02/2008

Street

1 KAREL  OOMSSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Sachiv  Bhansali

 

 

 

FORMER DIRECTOR DETAILS

 

Name

Rushabh  Desai

Position

Manager

Start  Date

14/12/2010

End  Date

30/11/2014

Street

106 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.26

UK Pound

1

INR 91.22

Euro

1

INR 79.88

Euro

1

INR 78.54

 

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.