Annual report 20108.31 MB - Boskalis

Financial statements 201018. Due from and due to customers2010 2009Cumulative incurred costs plus profit in proportion to progress less provisions for losses 3,781,111 3,635,811Progress billings 3,984,425 3,849,483Advances received 78,780 153,455Progress billings and advances received 4,063,205 4,002,938Balance - 282,094 - 367,127Due from customers 197,170 140,086Due to customers - 479,264 - 507,213Balance - 282,094 - 367,127As at year-end 2010 the items related to payments due from customers amounted to a total of € 11.6 million(2009: € 23.0 million) which will not be paid until specified conditions are fulfilled (retentions) in respect ofcontracts for work in progress for third parties. The determination of the profit in proportion to the stage ofcompletion and the provision for losses is based on estimates of the costs and revenues of the relating projects.These estimates are uncertain.19. Trade and other receivables2010 2009Trade receivables 550,080 427,505Amounts due from associated companies 9,672 2,623Other receivables and prepayments 233,587 171,508793,339 601,63620. Cash and cash equivalents2010 2009Bank balances and cash 200,018 199,254Short-term bank deposits 157,726 395,582Cash and cash equivalents 357,744 594,836Bank overdrafts - 1,475 - 1,347Net cash and cash equivalents in the consolidated statement of cash flows 356,269 593,489Cash and cash equivalents include € 59.2 million (2009: € 72.5 million) held by project-driven constructionconsortiums and € 93.8 million (2009: € 89.5 million) held by strategic alliances, which are subject to jointcontrol. The remaining funds were freely disposable at year-end 2010.Royal Boskalis Westminster nv97