Annual Report 2008 Sustainable design & engineering - Grontmij

Notes to the consolidated financial statements
Impairment losses
The aging of trade receivables at the reporting date was:
In thousands of euros
31 December 2008 31 December 2007
Gross Impairment Gross Impairment
Not past due 128,223 - 100,803 -
Past due: 0 to 30 days 27,872 - 43,273 -
Past due: 31 to 180 days 17,555 1,291 21,238 799
Past due: more than 180 days 9,536 3,833 11,781 4,738
183,186 5,124 177,095 5,537
The movements in the allowance for impairment in respect of trade receivables during the year were as follows:
In thousands of euros
2008 2007
Balance as at 1 January 5,537 8,547
Reclassification relating to assets held for sale - 1,112
Entities disposed of -166 -110
Employment -312 -3,773
Movements through profit or loss 363 -301
Currency differences -298 62
Balance as at 31 December 5,124 5,537
The Group believes that no impairment allowance is necessary in respect of trade receivables not past due or past due to 30 days.
The allowance for trade and other receivables is used to post impairment losses unless the Group is satisfied that no recovery of the amount
owing is possible. In that case the amount is written off against the financial asset directly.
At 31 December 2008 the Group does not have any collective impairment on its trade receivables (2007: nil).
Fair values versus carrying amounts
The estimated values as at 31 December 2008 of financial assets and liabilities are equal or nearly equal to the carrying amounts of the
concerning items.
106
GRONTMIJ | ANNUAL REPORT 2008