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.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2004 | | pagina 115