A N N U A L R E P O R T A N D A C C O U N T S - CMVM

Balance Sheets as at 31 st December 2008 and 2007
2008 2007
EQUITY AND LIABILITIES
Notes
EQUITY:
Capital 36 and 40 210,000 210,000
Adjustments to capital shares in subsidiaries and associated companies 40 135,972 137,229
Revaluation reserves 6, 13, 39 and 40 10,587 10,712
Legal reserve 40 18,100 15,100
Other reserves 40 197,561 155,991
Profit/(loss) carried forward 40 (168,943) (203,071)
Net profit/(loss) for the financial year 40 (196,358) 56,935
Total equity 206,919 382,896
LIABILITIES:
Provisions 34 5,522 4,197
Accounts payable - Medium- and long-term:
Debenture loans:
Non-convertible - 200,000
Accounts payable to credit institutions 48 171,750 237,500
Prepayments from customers 6,947 36,631
Group companies 16 52,329 21,348
Fixed asset suppliers, current account 15 6,351 5,480
237,377 500,959
Accounts payable – Short-term:
Non-convertible 48 200,000 -
Accounts payable to credit institutions 48 51,602 39,239
Suppliers, current account 175,688 121,942
Group companies 16 31,213 10,345
Prepayments from customers 48,826 37,440
Fixed asset suppliers, current account 15 1,869 803
State and other public entities 49 17,518 6,649
Other payables 30,455 3,240
557,171 219,658
Accruals and Deferrals:
Cost accruals 50 23,922 18,878
Deferred income 50 48,484 57,891
Deferred tax liabilities 6 3,825 4,347
76,231 81,116
TOTAL LIABILITIES 876,301 805,930
TOTAL EQUITY AND LIABILITIES 1,083,220 1,188,826
These notes form an integral part of the balance sheet for the year ended 31 st December 2008.
(thousands of Euros)
147