37. Financial fixed assets
Loans to
Participating participating
In millions of EUR
interest
interest
Balance at 1 January 2005
950
3,422
Change in accounting policies IAS 32/39
44
44
Profit of participating interests
743
743
Dividend payments by participating interests
(244)
244
Effect of movements in exchange rates
143
143
Changes in hedging and fair value adjustments
(38)
(38)
Other movements
55
55
Balance as at 31 December 2005
1,598
3,721
5,319
Balance at 1 January 2006
1,598
3,721
5,319
Loans converted into share capital
815
(815)
P ofit of participating interests
1,190
1,190
D vidend payments by participating interests
(232)
232
Effect of movements in exchange rates
(52)
(52)
C ianges in hedging and fair value adjustments
97
97
Other movements
(1)
(393)
(394)
B ilance as at 31 December 2006
3,415
2,745
6,160
Heineken N.V. 4 4Q
Annual Report 2006 J.^^7
