Today, Wavin - Jaarverslag.com

Wavin Annual Report 2010 | page 130Notes to theCompanyFinancialStatementsA. GeneralThe Company Financial Statements are presented in Euro, which is the Company’s functional currency. The amounts arerounded to the nearest thousand, unless otherwise stated.The Company Financial Statements of Wavin N.V. have been prepared in using the option of section 362 of Book 2 of theDutch Civil Code, meaning that the accounting principles used are the same as for the consolidated fi nancial statements.Foreign currency has been translated, assets and liabilities have been valued, and net income has been determined, inaccordance with the valuation principles and determination of income as prescribed in the signifi cant accounting policies.Subsidiaries of Wavin N.V. are accounted for at net equity value.As the fi nancial data of Wavin N.V. are included in the consolidated fi nancial statements, the income statement of Wavin N.V.is condensed in conformity with section 402 of Book 2 of the Dutch Civil Code.B. Intangible assets(€ x 1,000) GOODWILLCostBalance at 1 January 2009 94,584Effect of movements in exchange rates 1,421Balance at 31 December 2009 96,005Balance at 1 January 2010 96,005Effect of movements in exchange rates 1,540Balance at 31 December 2010 97,545ImpairmentBalance at 1 January 2009 (2,680)Balance at 31 December 2009 (2,680)Balance at 1 January 2010 (2,680)Balance at 31 December 2010 (2,680)Carrying amountsAt 1 January 2009 91,904At 31 December 2009 93,325At 1 January 2010 93,325At 31 December 2010 94,865The goodwill fully relates to the acquisition of the shares of Beheermaatschappij Wavin B.V. by Wavin Holdings B.V. in 2005.For details we refer to note 18 of the Group Financial Statements.