Annual Report 2007 - Muehlhan AG

sand (previous year: Eur 13,053 thousand). the accumulated costs pertaining to construction contracts in progress at
the balance sheet date amount to Eur 23,415 thousand (previous year: Eur 13,247 thousand) and the accumulated
profits / losses amount to Eur 1,404 thousand (previous year: Eur 1,061 thousand).
in the Management report (Heading: uS activities have a significant negative effect on 2007 business development)
it has been stated that we are currently prosecuting an action against a client for a total amount of Eur 4.3 million
(uS$ 6.3 million). Since the realization of this income is not regarded as probable, i. e. more likely than not to occur,
and the negotiations for supplementary claims have been broken off. and therefore it is not foresee able whether
the client is likely to accept these supplementary claims, we have not capitalized our claims except for the recognized
portion in the amount of Eur 0.9 million (uS$ 1.3 million).
7. LIQUID ASSETS
ManaGeMent divisions share Group ManaGeMent report group Consolidated FinanCial stateMents
Cash and cash equivalents amounted to Eur 7.6 million at 31 december 2007 (previous year: Eur 29.0 million). they
comprise available cash and mainly call money. on average, liquid assets carried interest at 2.0% at the balance sheet
date. there were no drawing restrictions.
8. OTHER CURRENT ASSETS
other current assets are analyzed as follows:
in kEur 31 December 2007 31 December 2006
Current tax receivables 4,936 2,235
prepaid expenses 1,277 891
receivables from related parties 0 818
Sundry 3,873 3,238
Total 10,086 7,182
a substantial portion of the increase in current tax receivables involves the value-added tax receivables of MGr.
in addition, MSpu has significant income tax receivables in 2007 as a result of tax loss carrybacks.
in the previous year, receivables from related parties existed with respect to GMiS, which is associated with the property
of the Chairman of the Supervisory board dr Wulf-dieter H. Greverath. the loan was paid off as agreed in 2007.
the other short-term assets have a term of up to one year. the fair value corresponds to the carrying amount.
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