Annual Report - Miba

Long-term securities, which are classified as available for sale, are reported at fair market
values in accordance with IAS 39. Any income or loss from subsequent valuations will be
reported in the period in which it occurred.
14. Deferred taxes
The differences in the valuation between the tax balance sheet and the IAS balance sheet are
the result of the following differences and/or have the following effect on deferred taxes:
01/31/2005 01/31/2004
in TEUR assets liabilities assets liabilities
Total balances
Assets:
Fixed assets 2,442 3,014 3,868 2,295
Inventories 1,201 0 1,462 0
Other assets 191 309 173 418
Liabilities:
Untaxed reserves 0 368 0 596
Accruals 1,780 82 1,772 175
Other liabilities 451 34 301 5
Subtotal 6,065 3,807 7,576 3,489
Losses carried forward 4,162 0 5,317 0
Decrease in valuation of deferred tax assets -3,160 0 -2,967 0
Tax accruals and deferrals 7,067 3,807 9,926 3,489
Consolidation:
Fixed assets 53 0 558 0
Consolidation of inter-company profits 471 0 547 0
Other 158 95 -276 141
Balance -2,638 -2,638 -3,082 -3,082
Deferred taxes 5,110 1,264 7,673 548
97