Notes to the consolidated financial statements - Efacec

Non-current assets
Efacec Capital, SGPS, S.A.
Balance Sheets as at 31 December 2008 and 2007
Assets
The Chartered Accountant Board of Directors
48
Amounts in Euro
Notes 2008 2007
Tangible fi xed assets 3 25,760,092 22,490,611
Intangible assets 0 4,229
Investments in group and associated companies 5 145,555,675 124,446,805
Financial investments in other companies 5 533,934 11,517
Debtors and deferred costs 8 462,598 27,000
Deferred tax assets 15 1,221,721 598,579
Derivatives 6 0 345,574
Current assets
Total non-current 173,534,020 147,924,316
Customers and accrued income 7 266,381 261,594
Debtors and deferred costs 8 50,832,360 23,475,987
Other fi nancial investments 6,236,577 0
Cash and cash equivalents 10 52,903,339 113,267
Shareholders’ Funds
Shareholders’ Funds and Liabilities
Total current 110,238,657 23,850,849
Total assets 283,772,677 171,775,165
Capital 11 41,641,416 41,641,416
Reserves for fi nancial instruments -1,725,066 253,997
Reserves and retained earnings 21,661,471 19,633,473
Net Profi t 20,080,238 26,776,666
Anticipated dividends -6,034,000 -12,216,000
Non-current liabilities
Total shareholders’ funds 75,624,059 76,089,552
Provisions 16 1,669,627 1,661,837
Loans 12 81,500,000 48,500,000
Deferred tax liabilities 15 3,531,672 3,513,491
Derivatives 6 2,347,029 0
Current liabilities
Total non-current liabilities 89,048,327 53,675,328
Loans 12 105,986,688 18,156,341
Shareholders’ loans 23 8,295,000 7,100,000
Suppliers 13 1,166,195 422,942
Creditors and accruals 13 3,652,407 16,331,001
Total current liabilities 119,100,290 42,010,284
Total shareholders’ funds and liabilities 283,772,677 171,775,165
The notes to the accounts are an integral part of these consolidated balance sheets