ANNUAL REPORT 2004 - Breevast

FINANCIAL STATEMENTS 2004Notes to the consolidated balance sheet(x EUR 1,000)SubsidiariesThe movements are as follows:Balance as of JanuaryInvestments in the Netherlands and BelgiumInvestments in the United StatesAnnual result(Dividend) paymentsUnrealized changes in valueChange due to consolidation (Exchange rate differencesNet book value as of December 31200445,6481,982-7,871(1,799)130(18,440)(2,269)33,123200320,89211,5459,7176,640(250)(388)512(3,020)45,648BREEVAST ANNUAL REPORT 200428The breakdown of Breevast B.V.’s share of property in the subsidiaries of EUR 173 million is as follows:• In the Netherlands: approximately EUR 25 million (2003: EUR 35 million); of which approximatelyEUR 16 million (2003: EUR 28 million) in property that will be retained for a period of 0-2 years andapproximately EUR 9 million (2003: EUR 7 million) in property retained for a period of 0-5 years;• In Belgium: approximately EUR 135 million (2003: EUR 134 million) purchased for a long period;• In the United States: approximately EUR 13 million (2003: EUR 32 million) of which EUR 13 millionin property that will be retained for a period of 0-2 years (2003: EUR 5 million).The majority of the property held by the subsidiaries is mortgaged.2. RECEIVABLESRent receivablesOther debtorsReceivables from non-consolidated subsidiariesAccrued income and prepaid expensesOther receivables31-12-20041,4301,8589512,5928,77715,60831-12-20033,8016443,6252,5822,69313,345The other receivables item includes a current account balance of EUR 3.9 million with a related party.