Consolidated Balance Sheet
before appropriation of profit
in millions of euros
31 December 2003 31 December 2002
Assets
Fixed assets
Intangible fixed assets 1,151 39
Tangible fixed assets 4,995 4,094
Financial fixed assets 1,122 835
7,268 4,968
Current assets
Stocks 834 765
Receivables 1,379 1,270
Securities 76 98
Cash 1,340 680
3,629 2,813
10,897 7,781
Equity and liabilities
Group equity
Shareholders' equity
Minority interests in other group companies
3,167
732
3,899
2,637*
393
3,030
Provisions
1,367
981
Liabilities
Long-term borrowings
Current liabilities
2,721
2,910
5,631
1,215
2,555*
3,770
10,897
7,781
Restated for comparison purposes
HEINEKEN N.V. ANNUAL REPORT 2003
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