ANNUAL REPORT 2007 | 2008 - Gimv

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21. LOANS TO INVESTEE COMPANIES (IN EUR 000) Year 2007-2008 1. Opening balance 56 497 1.1. Gross carrying amount 56 497 1.2. Accumulated impairment (-) - 2. Investments 49 811 3. Acquisition through business combination - 4. Sales (-) -15 606 5. Disposal of subsidiaries - 6. Impairment losses (-) -12 464 7. Reversal of impairment losses (+) - 8. Increase (decrease (-)) translation differences - 9. Transfer to (from) -7 480 10. Other (increase (+), decrease (-)) - 11. Closing balance 70 758 11.1. Gross carrying amount 70 758 11.2. Accumulated impairment (-) - Additional information regarding loans to investee companies Duration Max 1 year 1 to 5 years Total 4 380 66 378 70 758 Currency EUR USD GBP Total 66 646 4 112 - 70 758 136 | Gimv Annual Report 2007-2008 | Statutory consolidation Fixed interest rate Total Variable interest rate Total Applied interest rate 67 309 3 449 70 758 Average interest rate 7.21% 10.15% Year 2006-2007 1. Opening balance 79 103 1.1. Gross carrying amount 79 103 1.2. Accumulated impairment (-) - 2. Investments 18 183 3. Acquisition through business combination - 4. Sales (-) -27 578 5. Disposal of subsidiaries - 6. Impairment losses (-) -12 936 7. Reversal of impairment losses (+) - 8. Increase (decrease (-)) translation differences - 9. Transfer to (from) -274 10. Other (increase (+), decrease (-)) - 11. Closing balance 56 497 11.1. Gross carrying amount 56 497 11.2. Accumulated impairment (-) - Total
22. INVENTORIES (IN EUR 000) Gimv as an investment company does not carry inventories. These inventories relate to the buy-outs included in the statutory consolidation: De Groot International Investments BV, TerStal Investments BV, Interbrush NV, Grandeco Wallfashion Covering Nv, HVEG Investments BV (formerly LowLand Fashion), Numac Investments BV en Verlihold NV. 2007-2008 2006-2007 Materials 16 507 2 661 Products in preparation 1 102 300 Finished products 12 756 6 737 Commodities 19 978 27 955 Closing balance 50 343 37 653 Impairment losses recognised in profi t & loss Reversal of impairment losses recognised in profi t & loss -2 502 -688 23. TRADE AND OTHER RECEIVABLES (IN EUR 000) Trade and other receivables rose by EUR 57 666. This increase comes mainly from the buy-outs included in the statutory consolidation. Four new buy-outs were consolidated, with EUR 51 830 of trade and other receivables. 2007-2008 2006-2007 Non-current trade and other receivables (more than 1 year) Trade receivables - - Cash guarantees - - Interest receivables - - Long-term deposits - - Other receivables - - Closing balance - - Current trade and other receivables (maximum 1 year) Trade receivables 106 038 54 400 Interest receivables 28 783 Tax receivable, other than income tax 1 251 216 Derivative fi nancial instruments with positive fair values - 20 Other receivables 9 411 3 643 Closing balance 116 728 59 062 | 137
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ANNUAL REPORT 2007 | 2008
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KEY FIGURES LIMITED CONSOLIDATION 3
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GIMV AT A GLANCE AN ACTIVE INVESTOR
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Strong performance and expansion in
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In 2007-2008 Gimv realised 10 new i
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Structure | 08 Strategy | 09 Market
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STRATEGY Gimv is an independent, li
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Fundraising Provisional fi gures fr
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35000 30000 25000 20000 15000 10000
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(EUR 6.6 million), Gimv realised in
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Business units Regions Corporate In
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When, in the case of a potential sa
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Gimv takes 86 percent holding WALL
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Gimv accompanies growth through buy
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GIMV OFFERS CREDIBILITY ALFACAM GRO
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Joint venture of network and experi
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Gimv majority shareholder in TerSta
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HVEG - (LowLand Fashion) www.lowlan
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Corporate Investment Germany (Halde
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Gimv invests in world leader VAG DE
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Corporate Investment’s ten larges
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Overview of major shareholdings in
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Oree develops revolutionary lightin
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Liquavista www.liquavista.com Dutch
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DIVESTMENTS Business Architects www
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Overview of the Gimv ICT portfolio
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Gimv continues to support sharehold
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GIMV IS A REFERENCE IN THE BIOTECH
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PamGene www.pamgene.com PamGene, a
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Cleantech Last year Gimv took its f
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INVESTMENTS Electrawinds www.electr
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Human resources | 60 Responsible co
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Policy-wise, Gimv is paying ever gr
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RESPONSIBLE CORPORATE BEHAVIOUR You
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Management | 66 Corporate Governanc
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Zeger Collier has had a varied care
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Eric Spiessens is a member of the e
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Paul De Ridder has been a member of
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1.2 - Evolution of capital The capi
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“Prior to the Board of Directors
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Finally the audit committee analyse
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This includes: - joint fi xed remun
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- Rights and duties of shareholders
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10.4 - Threshold for calling a shar
Page 89 and 90: Volume 16 000 000 14 000 000 12 000
Page 91 and 92: 6 - Dividend policy The Board of Di
Page 93 and 94: 9 - Financial calendar 22 May 2008
Page 95 and 96: DURING THE 2007-2008 FINANCIAL YEAR
Page 97 and 98: INTRODUCTION 1. GENERAL INFORMATION
Page 99 and 100: 2. CONSOLIDATED BALANCE SHEET (IN E
Page 101 and 102: Issued capital Sharepremium account
Page 103 and 104: 6. DIVIDENDS, INTEREST, MANAGEMENT
Page 105 and 106: Other operating income and expenses
Page 107 and 108: The distribution of cash and cash e
Page 109 and 110: STATUTORY CONSOLIDATION 1. CONSOLID
Page 111 and 112: 2. CONSOLIDATED BALANCE SHEET (IN E
Page 113 and 114: Attributable to shareholders of the
Page 115 and 116: 4. CONSOLIDATED CASH FLOW STATEMENT
Page 117 and 118: 5.9 Property, plant and equipment P
Page 119 and 120: more appropriate or whether there i
Page 121 and 122: 6. IMPACT OF NEW OR AMENDED STANDAR
Page 123 and 124: 8. SUBSIDIARIES - CONTINUED Informa
Page 125 and 126: Assets NON-CURRENT ASSETS 31/03/08
Page 127 and 128: Buy-outs Infrastructure Overhead St
Page 129 and 130: Buy-outs Infrastructure Overhead St
Page 131 and 132: Unrealised gains and losses by acti
Page 133 and 134: 14. TAXES (IN EUR 000) 2007-2008 20
Page 135 and 136: 16. PAID AND PROPOSED DIVIDENDS The
Page 137 and 138: 17. GOODWILL EN ANDERE IMMATERIËLE
Page 139: 19. GOODWILL IMPAIRMENT The goodwil
Page 143 and 144: 26. PENSION LIABILITIES (IN EUR 000
Page 145 and 146: Restructuring provision Environment
Page 147 and 148: 29. RELATED PARTIES (IN EUR 000) Ye
Page 149 and 150: 30. FINANCIAL RISK MANAGEMENT See D
Page 151 and 152: 34. OFF-BALANCE SHEET OBLIGATIONS A
Page 153 and 154: Current liabilities rose by almost
Page 155 and 156: 37. CONNECTION BETWEEN LIMITED AND
Page 157 and 158: 1. BALANCE SHEET AFTER DISTRIBUTION
Page 159 and 160: GLOSSARY Blue chip: a company that
Page 161 and 162: Concept & design Concerto Photograp
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