Annual report 2009 - Dexia.com

Notes to the annualfinancial statements1. Presentation of thefinancial statementsDexia SA presents its financial statements beforeappropriation.The loss for the 2009 financial year amounts to EUR 93.8million.The profit carried forward from the previous year stands atEUR 1,215.1 million, making a total profit for appropriationof EUR 1,121.3 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 12 September1983.The items provided for in the accounting plan that do notapply 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 Decreeof 30 January 2001, in application of the Belgian CompanyCode.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 TRANSLATIONINTO EURMonetary assets, liabilities, rights and commitments denominatedin foreign currencies are translated into EUR at the lastday 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 intoEUR at the exchange rate ruling in effect on the date onwhich the income or expense is recognised in the statementof 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 Groupare recorded as intangible fixed assets when the acquisitionprice is at least equal to EUR 495.79 per item, or whendelivery is broken down into partial shipments representingless than EUR 495.79 each but the total delivery is at leastEUR 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 toalign the accounting value of fixed assets to their utilisationvalue for the company to take into account their alteration orchanges of economic or technological circumstances.Exceptional depreciations are reversed if they are no longerjustified.Management reportConsolidatedfinancial statementsAnnual financial statementsAdditional informationAnnual report 2009 Dexia 219