Annual report 2010 - Dexia.com

More documents

Recommendations

Info

Statement of incomeManagement reportConsolidatedfinancial statementsAdditional information Annual financial statements(in EUR) 31/12/2009 31/12/2010I. Operating income 7,926,197 35,806,312D. Other operating income 7,926,197 35,806,312II. Operating charges (167,797,864) (183,807,548)B. Services and other goods (133,671,022) (116,537,566)C. Remuneration, social security costs and pensions (40,580,189) (59,109,038)D. Depreciation of and amounts written off on formation expenses,intangible and tangible fixed assets (5,879,606) (6,520,382)F. Increase (-); decrease (+) in provisions for liabilities and charges 13,226,809 (1,150,728)G. Other operating charges (893,856) (489,834)III. Operating loss (159,871,667) (148,001,236)IV. Financial income 111,000,792 133,864,195A. Income from financial fixed assets 62,594,834 37,658,336B. Income from current assets 3,950,759 89,382,696C. Other financial income 44,455,199 6,823,163V. Financial charges (86,443,868) (54,966,383)A. Debt charges (72,452,681) (47,051,697)C. Other financial charges (13,991,187) (7,914,686)VI. Current profit/loss (-) before taxes (135,314,743) (69,103,424)VII. Exceptional income 24,610,006 64,413D. Gains on disposal of fixed assets 6 64,413E. Other exceptional income 24,610,000 0VIII. Exceptional charges (50,037,098) (5,191,625,699)A. Exceptional depreciation of and exceptional amounts written offformation expenses, intangible and tangible fixed assets 0 (6,493)B. Amounts written financial fixed assets 0 (5,086,000,000)C. Provisions for exceptional liabilities and charges (49,330,849) (105,619,206)D. Loss on disposal of fixed assets (706,249) 0IX. Profit/loss (-) for the period before taxes (160,741,835) (5,260,664,710)X. Income taxes 66,926,665 72,458,110A. Income taxes 0 (1,396)B. Adjustment of income taxes and write-back of tax provisions 66,926,665 72,459,506XI. Profit/loss (-) for the period (93,815,170) (5,188,206,600)XIII. Profit/loss (-) to be appropriated (93,815,170) (5,188,206,600)Profit brought forward of the previous period 1,215,112,379 1,121,297,209Profit/loss (-) for the period to be appropriated (93,815,170) (5,188,206,600)Profit/(loss) (-) to be appropriated 1,121,297,209 (4,066,909,391)242 Dexia Annual report 2010
Notes to the annualfinancial statements1. Presentation of thefinancial statementsDexia SA presents its financial statements before appropriation.The loss for the 2010 financial year amounts to EUR 5,188.2million. The profit carried forward from the previous yearstands at EUR 1,121.3 million, making a total loss forappropriation of EUR 4,066.9 million.2. Financial statements andchart of accountsDexia SA, a financial firm, is a company governed by Belgianlaw whose financial instruments are authorised for trading ina regulated Belgian market, and it is therefore subject to theobligation to publish yearly financial statements as prescribedby the Belgian Company Code and its decree of applicationdated 30 January 2001.The accounting plan is presented in accordance with theaccounting plan prescribed in the Royal Decree of 12September 1983. The items provided for in the accountingplan that do not apply to Dexia have been excluded.The financial statements are presented in EUR.3. Accounting policies3.1. General policies3.1.1. LEGISLATIONAccounting policies are in conformity with the Royal Decree of30 January 2001, in application of the Belgian Company Code.If legislation allows options or authorises a waiver, theaccounting policies hereafter shall mention the option chosenof whether such a waiver has been applied.3.1.2. FOREIGN CURRENCY TRANSLATION INTO EURMonetary assets, liabilities, rights and commitmentsdenominated in foreign currencies are translated into EUR atthe last day average year-end exchange rate.Non-monetary items are translated into EUR at the exchangerate ruling in effect on the transaction date.Foreign currency income and expense are translated into EURat the exchange rate ruling in effect on the date on which theincome or expense is recognised in the statement of income.3.2. Assets3.2.1. FORMATION EXPENSES (ITEM I.)Formation expenses are recorded as an asset and amortisedon a straight-line basis at the rate of at least 20% per year.3.2.2. INTANGIBLE FIXED ASSETS (ITEM II.)License acquisitions, external costs linked to software definitionand to the development of the website of Dexia Group arerecorded as intangible fixed assets when the acquisition priceis at least equal to EUR 495.79 per item, or when delivery isbroken down into partial shipments representing less than EUR495.79 each but the total delivery is at least EUR 495.79.Intangible fixed assets recorded in the assets are depreciatedover a maximum of five years.Furthermore, the internal costs related to the development ofsoftware and the website are entirely charged in the financialyear in which they are exposed.3.2.3. TANGIBLE FIXED ASSETS (ITEM III.)If necessary, exceptional depreciations will be recorded to alignthe accounting value of fixed assets to their utilisation value forthe company to take into account their alteration or changesof economic or technological circumstances.Exceptional depreciations are reversed if they are no longerjustified.3.2.4. FINANCIAL ASSETS (ITEM IV.)Participating interests and shares are stated at acquisition costor contribution cost. Related transaction costs are recordeddirectly in the statement of income.Impairments are recorded in the case of capital losses orlasting depreciation. They are determined by reference to thefinancial position, profitability and prospects of the companyin which shares and/or equity interests are held.Participating interests and shares may also be revalued. In thisit is therefore required that their value, determined on thebasis of their utility to the company, presents a certain andlasting surplus in relation to their book value.Debts appearing under financial fixed assets are valuedaccording to the same principles as debts at more than oneyear and up to one year.3.2.5. AMOUNTS RECEIVABLE AFTER MORE THANONE YEAR AND WITHIN ONE YEAR (ITEMS V. AND VII.)Receivables are stated at their nominal value. Allowances arebooked to cover any risk of non-recovery.Management reportConsolidatedfinancial statementsAdditional information Annual financial statementsAnnual report 2010 Dexia243
Page 1:
A n n u a lr e p o r t2 0 1 0
Page 4 and 5:
4 Group profile8 Message from the c
Page 6 and 7:
Group profileManagement reportConso
Page 8 and 9:
Group profileRESULTS Dexia GAAP IFR
Page 10 and 11:
Message from the ChairmenManagement
Page 12 and 13:
2010 and early 2011 highlightsManag
Page 14 and 15:
2010 and early 2011 highlightsDecem
Page 16 and 17:
Update on the transformation planMa
Page 18 and 19:
Update on the transformation planMa
Page 20 and 21:
StrategyManagement reportConsolidat
Page 22 and 23:
Declaration of corporategovernanceM
Page 24 and 25:
Declaration of corporate governance
Page 26 and 27:
Page 28 and 29:
Page 30 and 31:
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Page 62 and 63:
Page 64 and 65:
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Shareholder informationManagement r
Page 72 and 73:
Shareholder informationManagement r
Page 74 and 75:
Human ResourcesMEMBERS OF STAFFGEND
Page 76 and 77:
Human ResourcesFinally, questions r
Page 78 and 79:
Sustainable developmentEnergy perfo
Page 80 and 81:
Risk managementManagement reportCon
Page 82 and 83:
Risk managementThe Operational Risk
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Capital managementManagement report
Page 100 and 101:
Capital managementEconomic capitalE
Page 102 and 103:
Financial resultsConsolidated state
Page 104 and 105:
Financial resultsManagement reportC
Page 106 and 107:
Activity and results of the busines
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116:
Page 119 and 120:
C o n s o l i d a t e d f i n a n c
Page 121 and 122:
Liabilities Note 31/12/09 31/12/10(
Page 123 and 124:
Consolidated statementof changes in
Page 125 and 126:
Gains and losses not recognised in
Page 127 and 128:
Consolidated cash flow statement(in
Page 129 and 130:
Notes to the consolidated financial
Page 131 and 132:
Page 133:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142:
Page 145:
Page 148 and 149:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194: Notes to the consolidated financial
Page 237 and 238: Dexia saStatutory Auditor's reporto
Page 240 and 241: 240 Balance sheet241 Off-balance-sh
Page 242 and 243: Balance sheet(before income appropr
Page 246 and 247: Notes to the annual financial state
Page 262 and 263: Statutory Auditor's reportManagemen
Page 264 and 265: Additional informationManagement re
Page 267 and 268: Photographs: page 8: C. LEBEDINSKY/
show all

Annual report 2010 - Dexia.com

Create successful ePaper yourself

Delete template?

Save as template?