114. Notes to Heineken N.V. financial statements
Accounting policies for the valuation of assets and liabilities and for the determination of results
General
The Company financial statements have been prepared in accordance with the provisions of Part 9, Book 2,
of the Netherlands Civil Code. The Company uses the option of Article 362.8 of Part 9, Book 2, of the
Netherlands Civil Code to prepare the Company financial statements, using the same accounting policies as
in the consolidated financial statements. Valuation is based on recognition and measurement requirements
of accounting standards adopted by the EU (i.e., only IFRS that are adopted for use in the EU at the date of
authorisation) as explained further on page 66 to 77 of the notes to the consolidated financial statements.
The Company presents a condensed income statement, using the facility of Article 402 of Part 9, Book 2,
of the Netherlands Civil Code.
Financial fixed assets
Participating interests over which significant influence is exercised are stated on the basis of the equity
method. Results on asset and liability transactions between the Company and it's participating interests as
well as transactions between participating interests are not recognised when considered as non-realised.
Change in accounting policies
As a consequence of the application of IFRS accounting policies, the Company has applied a change
in accounting policies. This change is initiated by use of the option of Article 362.8 of Part 9, Book 2,
of the Netherlands Civil Code.
The retrospective accounted for effect of the change in accounting policies affected equity and profit.
The effect on total equity as per 1 January 2004 and 31 December 2004 amounts to €198 million and
€123 million negative respectively. The impact on the 2004 profit amounts to €105 million positive.
For comparative purposes the previous year figures have been restated except for IAS 32 and IAS 39
financial instruments.
For more detail, please refer to note 18 and 30 of the consolidated financial statements in which the
transition to IFRS is explained.
Heineken N.V. - Annual Report 2005
