ANNUAL REPORT 2004 - Breevast

FINANCIAL STATEMENTS 2004Notes to the consolidated balance sheet(x EUR 1,000)TRANSACTIONS WITH RELATED PARTIESTransactions with related parties are performed on an arm’slength basis following approval by the Supervisory Board.In 2004, Breevast purchased a commercial property from anon-consolidated subsidiary for EUR 20 million ‘cost for thebuyer’s account.BREEVAST ANNUAL REPORT 200432FINANCIAL OBLIGATIONS NOT APPARENTFROM THE BALANCE SHEETA summary of the financial obligations of the group that arenot apparent from the balance sheet is included in the notesto the company balance sheet on page 39 of this report.TAXATIONThe NetherlandsThe corporate income tax returns have for the most part beenfiled and partly settled through 2003. The total carry-forwardtax loss of Breevast B.V. and its Dutch subsidiaries amountsto approximately EUR 2.9 million at the end of 2004.Any negative consequences resulting from the receivablesubmitted in 1992 by the Treasury Department on the amountof this tax loss are not included here. Likewise, the deferredtax claim against the Internal Revenue Service that then arisesis not evaluated.BelgiumThe tax returns have for the most part been filed andsettled through 2003. The total carry-forward tax lossof Innara Invest N.V. and its subsidiaries amounts toapproximately EUR 53 million at the end of 2003.United StatesThe tax returns have been filed and for the most part settledthrough 2003. Breevast U.S. Inc. has a tax loss carry-over ofapproximately USD 8.3 million at the end of 2004. This carryoveronly relates to Federal Tax.