Annual report 2008 - Altarea Cogedim

n Other receivables
(in € thousand) 12/31/2008 12/31/2007
VAT credit and repayment request 47,412 47,824
Deductible VAT 105,263 95,947
Loans and security deposits paid 302 2,308
Current accounts of companies being consolidated proportionate or non-consolidated 1,414 7,195
Payroll & tax liabilities 2,746 2,482
Miscellaneous amounts payable 18,541 16,137
Other accrued expenses 14,982 16,214
Total other receivables, gross 190,660 188,106
Impairment of other receivables (613) (1,826)
Total other receivables, net 190,047 186,280
n Advances and downpayments paid
(in € thousand) 12/31/2008 12/31/2007
Advances and downpayments paid 10,432 5,708
Advances and downpayments on non-current assets - 889
Advances and downpayments on land 17,178 17,002
27,610 23,598
At 31 December 2008, the increase in advances and downpayments was chiefly attributable to €2.7 million in advances paid
on the Kremlin Bicêtre project under development.
The advances and downpayments on land in the amount of €17.2 million correspond to option deposits paid by Cogedim
to sellers of land upon signature of purchase option contracts (except for those that are guaranteed) in connection with its
property development business.
13.13. Principal accounts
In its capacity as agent for syndicates of co-ownership and as rental property manager, the Group holds funds belonging to
principals consisting of security deposits, rents and service charges and the working capital of the co-owned entity.
12/31/2008 12/31/2007
Assets
Rental property management 169 561
Co-ownership 9,021 7,495
principal accounts in debit 9,190 8,056
Equity and liabilities
Rental property management 169 561
Co-ownership 9,021 7,495
principal accounts in credit 9,190 8,056
As agent, the Group also keeps the principal accounts on behalf of the co-ownership syndicates.
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