Annual Report 2008 Sustainable design & engineering - Grontmij

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Notes to the company financial statements Contents 1 Basis of valuation 121 2 Goodwill 121 3 Financial assets 121 4 Receivables 122 5 Shareholders’ equity 122 6 Loans and borrowings 123 7 Related parties 123 8 Current liabilities 124 9 Remuneration of Executive Board and Supervisory Board 124 10 Auditors´ remuneration 124 11 Liabilities not recognised in the balance sheet 124 120 GRONTMIJ | ANNUAL REPORT 2008
Notes to the company financial statements 1. Basis of valuation The relevant accounting policies set out in note 3 to the consolidated financial statements as provided in pages 78 to 86, have been applied consistently to all periods accounted for in these company financial statements. The company financial statements form part of the financial statements of Grontmij for the year 2008. For the valuation of assets and liabilities and in determining the result in its company financial statements, Grontmij has availed of the option provided for in Article 2:362 par. 8 of the Dutch Civil Code. This states that the policies regarding the valuation of assets and liabilities and determination of the result of the company financial statements correspond with those applied for the consolidated financial statements, which are prepared in conformity with IFRS as adopted by the European Union (EU-IFRSs). Subsidiaries, joint ventures and associates are consequently measured on the basis of the ‘equity’ method. 2. Goodwill Following a legal restructuring within the Group, all capital interests in the Carl Bro entities were sold and transferred to a sub holding within the Group, Grontmij Buitenland Holding BV, in the course of 2007. 3. Financial assets A summary of the main (operational) subsidiaries is provided in note 7 of the consolidated financial statements. A full list of subsidiaries, joint ventures and associates is filed with the Trade Register in Utrecht, the Netherlands. The movements in the carrying amount of financial assets are as follows: In thousands of euros Total Subsidiaries Loans to Joint Associates Other subsidiaries ventures financial assets Balance as at 1 January 2007 119,757 102,737 16,252 185 472 111 Movements in 2007: Capital interests, acquired in the course of a legal restructuring within the Group 1,185 1,185 - - - - Incorporation of subsidiaries, called capital 18 18 - - - - Capital interests disposed of in the course of a legal restructuring within the Group -79,495 -79,495 - - - - Share in the result 30,117 30,092 - 25 - - Dividends received -206 - - -206 - - Other movements 4 4 - - - - Balance as at 31 December 2007 71,380 54,541 16,252 4 472 111 Movements in 2008: Share in the results 40,600 40,526 - 75 -1 - Redemption of loans -16,252 - -16,252 Currency differences and other movements -3,158 -3,145 - - - -13 Balance as at 31 December 2008 92,570 91,922 - 79 471 98 GRONTMIJ | ANNUAL REPORT 2008 121
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Annual Report 2008 Sustainable desi
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Key figures 2008 2007 2006 2005 200
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Overview 2008 Net margin (%) 5.0 4.
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Text 1... Regional & rural developm
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With about 70% of our assignments c
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Information for shareholders During
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Supervisory Board F.L.V. Meysman (c
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Annual Report 2008 Sustainable design & engineering - Grontmij

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