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Notes
10. Equity is further differentiated as follows:
Capital stock Reserve Other Total
fund
equity
46
Balance brought forward 5,471,190 5,512,343 2,790,257 13,773,791
New capital stock 11,158,981 53,062,038 64,221,019
Revaluation of fixed assets 424,348 424,348
Exchange differences of foreign shares (3,884,939) (3,884,939)
Gain on net montary assets (782,109) (782,109)
Net profit 4,189,390 4,189,390
Dividend (1,094,238) (1,094,238)
16,630,171 58,574,381 1,642,709 76,847,262
Subordinated convertible loan
11. A subordinated convertible loan is owed to financing institutions. The loan is in GBP, with the balance amounting to EUR
26,083,916 at year-end 2001. The loan is payable in 2009. In 2001-2005, the lenders can convert the loan to share
capital, at a rate of 20% of the loan's principal each year.
Obligations
12. Deferred income tax liability is calculated and entered in the annual accounts. The liability is calculated from the
difference in accounting items according to tax returns, on the one hand, and the company's annual accounts, on
the other.
Changes in the tax liability during the year are as follows
Income tax liability at the beginning of 2001 1,454,473
Computed indexation 103,544
Tax effect of exchange rate difference entry in equity section (788,452)
Income tax payable in 2002 (1,253,479)
Computed income tax for the year 2001 1,663,065
Income tax liability at the end of year 1,179,152
Long term liabilities
13. Long-term liabilities are as follows:
Indexation and denomination
GBP 119,118,166
EUR 4,547,303
USD 202,367
SEK 157,161
JPY 54,431
124,079,427
Figures in EUR