< all projects

Viskon Beheer BV

presented by October Netherlands



48 months


If I had lent to this project?

lent to this project, means…

paid back in total

taxes not included

Create your account

Warning Lending money to SMEs presents a risk of capital loss and requires your savings to be immobilised.



Purmerend, Netherlands




Presentation of the company

Viskon Beheer BV is the holding company set up in 2008 as the parent company to the groups two operating companies:. Viskon Glas BV and Viskon Glasprojecten BV. The Viskon group is managed by Jeffry Reuzenaar and Hans Zee, has 8 employees and is based in Purmerend, just north of Amsterdam.

The company exists since 1979 and is run by the current owners since 2005. The company’s main activities are:

  • Production and installation of specialised shaped glass products like glass panels for TV studio’s, windows for super yachts and custom made displays Trade in glass productsThe company works with a large variety of international customers in various sectors, ranging from the yachting industry to the hotel and entertainment industry.

Project Description

The company is requesting a loan of €100,000 over 48 months to finance the materials needed to execute its growing order book, combined with a transfer to suppliers in Asia, which means that capital will be blocked for longer.

The amount offered on the platform is limited to 49000€, which is in compliance with regulatory limits.

Like all projects presented to individual lenders on October, it is co-financed with institutional investors, sophisticated investors, and the management of October, subscribers to the October Fund.

Analyst’s Opinion

The borrower is a holding company whose revenues are derived from services invoiced to its subsidiaries. The financial analysis was carried out on consolidated financial statements, which reflect the group’s performance.

With a turnover of 909 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

Turnover is relatively stable but results fluctuates year over year due to highly specific nature of their projects.

The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,54 and an excellent financial structure, with a forecast net debt / ebitda ratio of 0,13 and a net debt / shareholder equity of 16%.

The analysis of the project leads to a credit rating of B+ and a 4,50% annual interest rate.

*The multiple of FCCR at 1,54 means that the company has a safety margin of 54% relative to its ability to repay its credit maturities.

The expert opinion is given as an indication on the basis of the elements provided by the project holder and information from our databases (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.

Strong points:

  • Good historical performance based on diversified client base.
  • Solid repayment ability with a forecasted FCCR of 1,54 reinforced by the support of banking pool.
  • Company is positioned as a niche player in highly specialised glass products with an expereinced team.

Points of caution:

  • Small size of the company leaves it more vulnarable and volatile.