Annual Report 2005
Annual Report 2005
Annual Report 2005
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Notes relating to the consolidated annual accounts<br />
Other liabilities in connection with social security contributions<br />
in €k 31.12.<strong>2005</strong> 31.12.2004<br />
Neschen AG, Bückeburg/Germany 300 159<br />
Neschen Technologies GmbH, Bückeburg/Germany 0 1<br />
Neschen Austria Ges.m.b.H., Vienna/Austria 8 7<br />
Neschen International B.V., Raalte/The Netherlands 11 0<br />
Neschen Benelux B.V., Breda/The Netherlands 0 5<br />
Filmolux S.A.R.L., Paris/France 220 310<br />
Neschen UK Ltd., Stone/Great Britain 0 14<br />
Neschen ITALIA s.r.L., Bagnolo/Italy 10 11<br />
Neschen Products España S.A., Barcelona/Spain 2 2<br />
HSW Signall s.r.o., Prague/Czech Republic 25 36<br />
Total 576 545<br />
Other liabilities to personnel<br />
in €k 31.12.<strong>2005</strong> 31.12.2004<br />
Neschen Austria Ges.m.b.H., Vienna/Austria 5 5<br />
Neschen International B.V., Raalte/The Netherlands 3 0<br />
Neschen Benelux B.V., Breda/The Netherlands 9 117<br />
Neschen China Ltd., Hong Kong/China 29 0<br />
Total 46 122<br />
Other liabilities<br />
in €k 31.12.<strong>2005</strong> 31.12.2004<br />
Neschen AG, Bückeburg/Germany 1,341 393<br />
Neschen Austria Ges.m.b.H., Vienna/Austria 38 40<br />
Neschen International B.V., Raalte/The Netherlands 2,391 1,660<br />
Neschen Benelux B.V., Breda/The Netherlands 35 40<br />
Seal Graphics Europe B.V., Raalte/The Netherlands 276 548<br />
Seal UK Ltd., Basildon/Great Britain 52 50<br />
Neschen UK Ltd., Stone/Great Britain 145 5<br />
Neschen ITALIA s.r.L., Bagnolo/Italy 62 1<br />
Neschen Kft., Budapest/Hungary 15 8<br />
Neschen Corporation, Elkridge/USA (consolidated) 181 20<br />
HSW Signall s.r.o., Prague/Czech Republic 2 4<br />
Neschen China Ltd., Hong Kong/China 0 29<br />
Total 4,538 2,798<br />
Here, other liabilities shown mainly include financial derivatives valued at fair value (1,221,000 Euros), company loans (1,265,000 Euros) and specific<br />
interest (995,000 Euros).<br />
Financial derivatives<br />
The derivative financial instruments for reducing risk and shown as liabilities include the following interest rate swaps:<br />
Interest rate Nominal value Term Book value<br />
in €k in €k<br />
Interest rate swap 5% fixed 10,000 Up to 2007 340<br />
Interest rate swap 6% fixed 6000 Up to 2010 881<br />
The fair values of the derivative financial instruments have been determined using the cash value method.<br />
Deferred credits to income<br />
in €k 31.12.<strong>2005</strong> 31.12.2004<br />
Seal UK Ltd., Basildon/Great Britain 113 52<br />
Neschen ITALIA s.r.L., Bagnolo/Italy 71 48<br />
Neschen Kft., Budapest/Hungary 3 3<br />
HSW Signall s.r.o., Prague/Czech Republic 15 41<br />
Total 202 14<br />
The deferred credits to income have a residual term of up to one year.<br />
69
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