110 Heineken N.V. Annual Report 2004 Financial Statements 2004 Notes to the Balance Sheet and Profit and Loss Account of Fleineken N.V. for 2004
Financial fixed assets
Shares in group companies are carried at net asset value calculated in accordance with the
accounting policies for the valuation of assets and liabilities.
Financial fixed assets Group companies
Total Shares Amounts receivable
Position as at 1 January 2004
3,832
995
2,837
Change in accounting policies
-187
-187
-
Revaluations
35
35
-
Net profit of group companies
553
553
-
Dividend payments by group companies
-
-322
322
Other movements
263
263
Position as at 31 December 2004 4,496 1,074 3,422
Other assets and liabilities
Amounts receivable from group companies are stated at face value. Also stated at face value are
other amounts receivable, cash, long-term borrowings and current liabilities.
Shareholders' equity
Exchange differences
Movements in exchange rates which affect foreign investments are accounted for in the statutory
reserve, the revaluation reserve or the retained profit reserve.
Statutory reserve
This reserve relates to the net profit of participating interests over the distribution of which
Heineken does not have control. The movement in the statutory reserve reflects retained profits
of participating interests, exchange differences and dividends received.