Costs incurred for intangible assets, including patents,
licences, software, research and development, are char
ged directly to income.
Differences in valuation resulting from revaluation are
credited or debited to the Group funds, if applicable, after
deduction of an amount for deferred tax liabilities.
The items in foreign currency in the annual accounts have
been converted at the rates of exchange on the balance
sheet date. Valuation differences arise as a result of
translation of the balance sheets of foreign consolidated
participations at the beginning of the financial year at the
rates of exchange which have altered at the end of the year.
These differences are regarded as revaluations. Other
differences connected with changes in rates of exchange
are incorporated in the Statement of Income.
The differences between price and value according to
these policies upon the purchase of enterprises or partici
pations therein are offset against the Group funds.
Consolidated Balance Sheet
Tangible fixed assets
Position on January 1. 1985
Investments less disposals
Changes in the extent of the consolidation
Depreciation and value adjustments
Position on December 31, 1985
This book value is composed as follows:
The cumulative amount of the revaluations as
from January 11984. is: 35.819 6.798 18.488 10,533
Other fixed operating assets include means
of transport and furniture and fittings as well
as crates, cases, kegs and pallets.
Machinery and installations include assets
with a book value of N.fl. 26.3 million which
are available in virtue of capital leases.