2005 Annual report - Virbac

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Note B7 - Deferred income tax
As at 31 December 2005, the main sources of deferred income tax were as shown in the following table:
(€ thousands) Deferred tax assets Deferred tax liabilities
Pension commitments and post-employment benefits 1,676 Revaluation gain on intangible assets 6,268
Margin on inventories 2,758 Depreciation differences on property,
plant and equipment 2,505
Amortisation and provisions on intangible assets 1,446 Regulated provisions 1,268
Losses carried forward 711 Other 537
Other 2,779
TOTAL 9,370 TOTAL 10,578
Deferred tax assets not recognised in the consolidated financial statements for the year ended 31 December 2005 amounted
€3,414 thousand and arose in the subsidiary Virbac Corp.
Note B8 - Inventories and work-in-progress
Breakdown of inventories and work-in-progress by type:
2005 2004
(€ thousands) Gross Provision Net Gross Provision Net
Raw materials and supplies 24,124 3,582 20,542 22,428 3,037 19,391
Work-in-progress 4,396 968 3,428 3,727 533 3,194
Finished products and goods 35,879 1,272 34,607 32,516 844 31,672
TOTAL 64,399 5,822 58,577 58,671 4,414 54,257
Change in inventory and work-in-progress provisions
Write-backs for the year
2004 Charge for Amounts Amounts Reclassifications Translation 2005
(€ thousands) the year used not used adjustment
Raw materials and supplies 3,037 1,167 -1,193 - 198 373 3,582
Work-in-progress 533 968 -533 - - - 968
Finished products and goods 845 636 -594 - 349 36 1,272
TOTAL 4,415 2,771 -2,320 0 547 409 5,822
Note B9 - Trade receivables
France Rest of Latin Asia Africa / North Pacific Total
(€ thousands) Europe America Middle East America
Gross trade receivables 19,699 21,491 8,907 5,191 3,368 5,009 7,609 71,274
Provisions for doubtful debts 546 1,026 810 254 0 30 50 2,716
Net trade receivables
as at 31 December 2005 19,153 20,465 8,097 4,937 3,368 4,979 7,559 68,558