032 IMMOBILIERE SOCIALE DE LESSINES ET DES ENVIRONS (406206009)

Belgium Full Review

Scoring Guide
0-6High risk.
7-12Average to normal risk.
13-20Low risk.
Company Identification
Previous Name:ALCATEL MICROELECTRONICS
Previous Address:Westerring 15 9700 OUDENAARDE
Trading Address:Excelsiorlaan 44 46 1930 ZAVENTEM
Telephone:055/33.22.11
Fax:055/31.81.12
SIC Codes: [Manuf TV, radio transmitters, telephones] ONSS index
[Manuf TV, radio transmitters, telephones] ONSS statistics
[Manufacture of electronic components] National Bank of Belgium: annual financial statements
[Manufacture of electronic components] VAT authorities
Bankers:KBC BANK
Account Code:443-9000801-83
Date Accounts Lodged:31/12/2001
Last Modification in the T.R. E.C.N:23/12/2002
Incorporation Date:25/03/1983
Former Legal Form:-
VAT Liability:YES
Enterprise No:423870501
Trade Clerks Office:Bruxelles-Brussel
T.R. No:588235
EAN Location Number:5499754763500
Language:Dutch
Principal Activities:Manufacture of electronic components
Capital Date:23/07/2002
Authorised Capital:87,049,000.00
Issued Capital:87,049,000.00
Capital Date:31/12/2001
Authorised Capital:4,049,000.00
Issued Capital:4,049,000.00
Number of Employees:587
Credit Decision
Cash flow:average
Indebtedness:very low
Profitability:zero
Balance:zero
Commitments:honoured, but should be monitored
Incidents:none, but should be monitored
Payments:fragile
Past Experience:inconsistent
Today's Credit limit:N/A
Today's Score:5
(in a statistical distribution from 0 inclusive to 20 exclusive, the middle profile is situated at 9.6 = global average, monthly controlled and maintained)
CCJ's and Legal Proceedings
Judgments
None
Protests
None
Profit and Loss Account
Date of Accounts31/12/200131/12/200031/12/1999
Type of accountComplete outlineComplete outlineComplete outline
CurrencyEUREUREUR
Operating Income374,531,000.00770,873,000.00275,567,787.72
A.Turnover350,304,000.00620,496,000.00228,803,120.48
Operating Charges-375,267,000.00-751,401,000.00-265,506,905.07
1.Purchases116,049,000.00429,978,000.0094,448,598.03
2.Increase (+), decrease (-) in stocks-7,425,000.00-3,943,000.00-166,113.45
Operating Profit0.0019,472,000.0010,060,882.64
Operating Loss-736,000.000.000.00
Financial Income21,708,000.0018,765,000.008,855,004.59
Financial Charges-20,162,000.00-14,257,000.00-4,814,414.51
Interest Payable6,987,000.007,301,000.004,742,178.33
Profit On Ordinary Activities Before Taxes810,000.0023,980,000.0014,101,472.73
Loss On Ordinary Activities Before Taxes0.000.000.00
Extraordinary Income0.000.000.00
Extraordinary Charges-50,159,000.000.000.00
Pre-Tax Profit0.0023,980,000.0014,101,472.73
Pre-Tax Loss-49,349,000.000.000.00
Transfer From Differed Taxes0.000.000.00
Transfer To Differed Taxes0.000.000.00
Taxation---
Value Added139,517,000.00172,325,000.00112,939,025.62
Sales And Services374,531,000.00770,873,000.00275,567,787.72
Operating Subsidies0.000.000.00
Staff Expenses74,026,000.0070,278,000.0048,929,967.60
Income Before Interest And Taxes-42,362,000.0031,281,000.0018,843,651.07
Year's Income-49,349,000.0022,882,000.0014,100,605.10
Balance Sheet
Date of Accounts31/12/200131/12/200031/12/1999
Type of accountComplete outlineComplete outlineComplete outline
CurrencyEUREUREUR
Long-Term Assets118,773,000.00117,665,000.00122,179,727.76
Total Current Assets106,709,000.00262,594,000.0090,360,338.02
Realisable Assets104,996,000.00261,031,000.0085,060,647.15
Receivables Over More Than One Year0.000.000.00
Cash1,713,000.001,563,000.005,299,690.87
Net Assets17,188,000.0070,460,000.0053,167,558.67
Total Fixed Assets---
Total Assets225,482,000.00380,259,000.00212,540,065.79
Formation Expenses---
Intangible Fixed Assets---
Tangible Assets---
Equity8,921,000.0055,342,000.0035,741,313.19
Provisions For Risks And Losses8,267,000.0015,118,000.003,083,522.76
Debts Over More Than One Year0.000.0014,342,722.71
Debts Payable Within One Year206,944,000.00306,528,000.00158,077,486.55
Total Liabilities225,482,000.00380,259,000.00212,540,065.79
1.Shares---
2.Amounts Receivable And Cash Guarantees---
Amounts Receivable After More Than One Year---
A.Trade Debtors---
B.Other Amounts Receivable---
Total Stocks---
Creditors: amounts falling due within one year---
Investments---
Adjustment Accounts---
Capital And Reserves---
1.Shares---
Capital---
Paid-In Capital---
Revaluation Reserve---
Reserves---
Profit Carried Forward---
Loss Carried Forward---
Creditors---
Total Long Term Liabilities225,482,000.00380,259,000.00212,540,065.79
Account Notes
Date of Accounts31/12/200131/12/200031/12/1999
Type of accountComplete outlineComplete outlineComplete outline
CurrencyEUREUREUR
A.Land and buildings---
B.Plant, machinery and equipment---
C.Furniture and vehicles---
D.Leasing and other similar rights---
E.Other tangible assets---
F.Assets under construction and advance payments---
CAPITAL ASSETS---
A.Affiliated enterprises---
1.Participating interests---
2.Amounts receivable---
B.Other enterprises linked by participating interests---
1.Participating interests---
2.Amounts receivable---
C.Other capital assets---
A.Stocks---
1.Raw materials and consumables---
2.Work in progress---
3.Finished goods---
4.Goods purchased for resale---
5.Buildings destined for sale---
6.Advance payments---
B.Orders in progress---
A.Own shares---
B.Other investments and deposits---
A.Issued capital---
B.Uncalled capital---
A.Legal reserve---
B.Reserves not available for distribution---
1.For own shares---
2.Other---
C.Untaxed reserves---
D.Reserves available for distribution---
Capital Subsidies---
Provisions And Deferred Taxes---
A.Provisions for liabilities and charges-2,220,000.007,403,000.00-3,099,065.68
1.Pensions and similar obligations---
2.Taxation---
3.Major repairs and maintenance---
4.Other liabilities and charges---
B.Deferred taxation---
A.Financial debts---
Subordinated loans---
Non-subordinated bond debentures---
Leasing and other similar obligations---
Credit institutions---
Other loans---
1.Suppliers---
2.Notes payable---
C.Advances received on contracts in progress---
D.Other amounts payable---
Amounts Payable Within One Year---
A.Current portion of amounts payable after more than one year---
B.Financial debts---
1.Credit institutions---
2.Other loans---
C.Trade debts---
1.Suppliers---
2.Notes payable---
D.Advances received on orders in progress---
E.Taxes, wages and social security---
1.Taxes---
2.Remuneration and social security---
F.Other amounts payable---
ADJUSTMENT ACCOUNTS---
B.Increase (+), decrease (-) in stocks of finished goods, work and orders in progress-23,362,000.00102,512,000.006,025,746.22
C.Immobilized production38,720,000.0035,199,000.0029,780,862.12
D.Other operating income8,869,000.0012,666,000.0010,958,058.89
A.Raw materials, consumables and goods for release108,624,000.00426,035,000.0094,282,484.58
B.Services and sundry goods126,390,000.00172,513,000.0068,346,277.50
C.Remuneration, social security charges and pensions74,026,000.0070,278,000.0048,929,967.60
D.Deprec.of and other amounts written off formation exp., intang. and tang.fixed assets63,136,000.0063,346,000.0052,175,315.25
E.Incr.(+), decr.(-) in amounts written off stocks, orders in progress and trade debtors4,004,000.0010,447,000.002,736,248.72
F.Provisions for liabilities and charges-2,220,000.007,403,000.00-3,099,065.68
G.Other operating charges1,307,000.001,379,000.002,135,677.08
H.Operating charges posted to assets as restruct.expenses0.000.000.00
A.Income from financial fixed assets0.000.000.00
B.Income from current assets471,000.00129,000.00150,471.36
C.Other financial income21,237,000.0018,636,000.008,704,533.22
B.Amounts written off on current assets (other than 631/4)0.000.000.00
C.Other financial charges13,175,000.006,956,000.0072,236.17
A.Adjustments to deprec.of and to other amounts written off intang. and tang.fixed assets0.000.000.00
B.Adjustments to amounts written off on financial fixed assets0.000.000.00
C.Adjustments to provisions for extraordinary liabilities and charges0.000.000.00
D.Gain on disposal of fixed assets0.000.000.00
E.Other extraordinary income0.000.000.00
A.Depreciation of and other amounts written off formation expenses, intangible and tangible fixed assets0.000.000.00
B.Amounts written off on financial fixed assets103,000.000.000.00
C.Provisions for extraordinary liabilities and charges0.000.000.00
D.Loss on disposal of fixed assets0.000.000.00
E.Other extraordinary charges50,056,000.000.000.00
F.Extraordinary charges posted to assets as restr.expenses0.000.000.00
A.Income taxes0.00-1,098,000.00-867.62
B.Adjustment of income taxes and write-back of tax provisions0.000.000.00
Profit For The Period---
Loss For The Period---
Transfer From Untaxed Reserves0.000.000.00
Transfer To Untaxed Reserves0.000.000.00
A.Profit To Be Appropriated0.0043,895,000.0021,013,339.15
A.Loss To Be Appropriated-5,455,000.000.000.00
1.Profit for the period available for appropriation0.0022,882,000.0014,100,605.10
1.Loss for the period available for appropriation-49,349,000.000.000.00
2.Profit brought forward43,894,000.0021,013,000.006,912,734.04
2.Loss brought forward0.000.000.00
B.Transfers From Capital And Reserves0.000.000.00
1.From Capital And Share Premium Account0.000.000.00
2.From Reserves0.000.000.00
C.Transfers To Capital And Reserves0.00-1,000.000.00
1.To Capital And Share Premium Account0.001,000.000.00
2.To The Legal Reserve0.000.000.00
3.To Other Reserves0.000.000.00
1.Profit To Be Carried Forward0.00-43,894,000.00-21,013,339.15
2.Loss To Be Carried Forward5,455,000.000.000.00
E.Intervention Of Partners In The Loss0.000.000.00
F.Profit To Be Distributed0.000.000.00
1.Return On Capital0.000.000.00
2.Administrators Or Managers0.000.000.00
3.Other Beneficiaries0.000.000.00
Cashflow
Date of Accounts31/12/200131/12/200031/12/1999
Type of accountComplete outlineComplete outlineComplete outline
CurrencyEUREUREUR
Net working capital---
Total cash flow before distrib.---
Detailed Ratios
Ratios indicating ability to pay
Date of Accounts31/12/200131/12/200031/12/1999
Net margin on sales2.514.617.70
Liquidity in the broad sense51.2284.7656.69
Liquidity in the narrow sense22.0541.7433.31
Immediate liquidity1.600.595.86
Ratios Indicating Payment Profile
Date of Accounts31/12/200131/12/200031/12/1999
Type of accountComplete outlineComplete outlineComplete outline
CurrencyEUREUREUR
Stock/turnover days6.795.019.02
Days Sales Outstanding (DSO)29.0062.0062.00
Days purchasing outstanding62.0080.00113.00
Ratios Indicating Performance
Date of Accounts31/12/200131/12/200031/12/1999
Gross margin on sales17.8615.8925.80
Profit/Shareholders funds (%)-553.1741.3439.45
Cash flow on equity66.14170.47160.87
Gross return on total assets5.7127.0129.28
Profit/Total assets (%)-18.788.228.86
Ratios Gearing
Date of Accounts31/12/200131/12/200031/12/1999
Solvency3.9514.5516.81
Ratios Employee
Date of Accounts31/12/200131/12/200031/12/1999
Share of staff costs in value added53.0540.7843.37
Ratios Other
Date of Accounts31/12/200131/12/200031/12/1999
Rate of value added37.2522.3540.98
Value added on gross tangible long-term assets43.6957.9240.22
Part alloc.amort.,.. val. added.46.5347.1145.82
Net charges/value added5.004.234.19
Turnover supplies and merchandise6.1543.4416.32
Turnover work-in-progress and finished goods10.325.4611.81
Acquis. tangible assets./value added17.7413.6517.82
Acquis. tangible assets. tangible assets---
Key Filings
Date of PublicationInstrumentDescription
04/10/2002122771Delegation of authority
04/10/2002122771Withdrawal of authority
27/07/2002216Change of official corporate name
Ownership
Shareholders
None
All immediate subsidiaries
Business Name(%) directlyNumber of shares(%) indirectlyBalance sheets of
MIETEC FRANCE SAS99.960.00249931/12/2001
Directors
NameFunction
DANNEELS JOHANManaging Director
DIERCKX RUDOLFAdministrator
FERRO CARLOAdministrator
FONTAN BERNARDAdministrator
STOFFEL FABIENNEAdministrator
VARIN JOELAdministrator
GUIBERT FRANCOISAdministrator
ALCATEL BELLPartner
DANNEELS JOHANDecision-maker
MARTIN PEDRO-LUISDecision-maker
BHAGWAT MUKUNDDecision-maker
VAN ACOLEYEN JANDecision-maker
MATTHEUS WALTER HENDRIK ANNADecision-maker
SENNESAEL KRISDecision-maker
EISELE HARTMUTDecision-maker
DE FRAEYE PAULDecision-maker
MOURET VINCENTDecision-maker
VERHAMME CDecision-maker
OIVIER CHRISTIANDecision-maker
HILLEWAERT JDecision-maker
CLOETENS LDecision-maker
SCHUTZ ERICDecision-maker
VAN PRAET CARLODecision-maker
DELMOTTE JOHNNYRepresentative/Auditor
DELOITTE & PARTNERS BEDRIJFSREVISOREN / REVISEURS D'ENTREPRISESAuditor
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