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Part 3 - Financial statements
89
25. Deferred tax
Deferred taxes per category
in EUR ‘000’
Assets
liabilities
31/12/12 31/12/11 31/12/10 31/12/12 31/12/11 31/12/10
Temporary differences
Intangible assets and goodwilll
Property, plant & equipment
Construction contracts
Provisions
Finance lease contracts
Others
Total temporary differences
Tax losses and other tax credits
- 151 - (2 502 ) (1 503 ) (1 457 )
100 62 50 (921) (271) (182)
1 916 971 969 (3 380 ) (2 979 ) (1 847 )
933 886 847 (530) (608) (431)
- - - (851) (875) (812)
894 2 252 1 818 (420) (653) (301)
3 843 4 322 3 684 (8 604 ) (6 889 ) (5 030 )
15 087 13 882 6 573
Total deferred tax assets/liabilities
Compensation of assets and liabilities per tax entity
Total, net
18 930 18 204 10 257 (8 604 ) (6 889 ) (5 030 )
(4 372) (4 925 ) (1 847 ) 4 372 4 925 1 847
14 558 13 279 8 410 (4 232 ) (1 964 ) (3 183 )
Table of variation of deferred taxes
in EUR ‘000’
2012 2011 2010
Net deferred taxes as of 1st January
Deferred tax income / (expense)
Exchange difference
Others
Net deferred taxes as of 31st December
11 315 5 227 3 647
(930) 5 877 1 194
(32) 211 269
(27) - 117
10 326 11 315 5 227
Deferred tax assets are recognized only if their use is
probable, that is to say if sufficient taxable benefit is
expected in the future years. These assets are only
recognized, after extensive review of the business plans
by the Board of Directors, if it can be considered that
there is a high probability these amounts would be
used due to the positive markets in which the Group is
involved and the Group’s strong performance in those
same markets.
Almost all recognized deferred tax assets are not limited
in time.
The Group did not recognize deferred tax assets for
a total amount of EUR 33.337 thousand as of 31
December 2012 (respectively EUR 29.691 thousand
and EUR 28.752 thousand on 31 December 2011 and
2010) and will review this situation during later financial
years according to the profitability of the various tax entities.