ANNUAL REPORT 2004 - Breevast

FINANCIAL STATEMENTS 2004Notes to the consolidated profit and loss account(x EUR 1,000)5. TOTAL OPERATING EXPENSES20042003BREEVAST ANNUAL REPORT 200435Management costs:Gross salariesSocial security / pensionsOffice rentForeign managementAdvisorsDepreciation of office inventory/vehiclesOtherInterest charges:Netherlands mortgage interest chargesUnited States mortgage interest chargesBelgium mortgage interest chargesOther interest charges3,5022884501071,2192402,5498,35517,2337361,9512,76622,686The company had 37.5 FTEs at the end of 2004 (2003: 36), including the 9 employees (2003: 10) ofWattson Breevast, LLC and 14 employees in Belgium (2003: 9). The profit and loss account for 2003does not include any income and expenses for the Belgian organization (only the balance sheet wasconsolidated at the end of 2003).The remuneration of the members of the Supervisory Board amounted to EUR 73,000 in 2004(2003: EUR 73,000). The remuneration of the Management of Breevast amounted to EUR 413,000in 2003 (Article 383(1), Book 2 of the Netherlands Civil Code prevails with respect to 2004).2,9234263481149962422,1767,22519,4781,8902894,36326,020The other operating expenses item includes the write-downs on claims and obligations that ensue fromguarantees issued to third parties. In 2004, this concerns an additional provision of EUR 1.5 millionfor a claim with respect to a Belgian group company acquired in 2003 (2003: EUR 7.7 million).6. CORPORATE INCOME TAX20042003Tax dueDeferred tax liabilitiesTotal(7,962)(13,598)(21,560)(630)(4,484)(5,114)