Combined profit and loss
account
Receivables, including the receivables from participations, have
been valued at nominal value after deduction of provisions
deemed necessary.
The dividends from non-consolidated participations are accounted
for in the year of distribution.
To supplement the breakdown
in the profit and loss account
we give below the subdivision
of the items 'Balance of interest'
and 'General expenses':
1977
1976
Interest charges
f 27.514.000
f
23.294.000
Interest gains, including
interest during construction
16.427.000
15.564.00Ü
f 11.087.000
f
7.730.000
Salaries and social security
charges
f 4.260.000
f
3.548.000
Other costs
2.989.000
2.689.000
Emoluments to supervisory
directors
10.000
32.000
7.259.000
f
6.269.000
In the annual accounts 1976 an amount of f 14.125.000 was
accounted for as interest gains; the difference of f 1.439.000
with the figure presented above concerns the dividend for 1975
from a participation. As this participation is now included under
'Securities', the dividend was accounted for in the combined
profit and loss account for 1977 under 'Balance of interest' rather
than under 'Income from participations'. This modification was
also processed in the corresponding figures for 1976.
During the entire financial year the number of supervisory
directors was six; five supervisory directors received no
remuneration.
