Real estate companies
and other diversifications
Explanatory notes
Combined balance sheet
Participations
Participations
Receivables
1981
1980
75.938.000
41.986.000
59.702.000
43.611.000
f 117.924,000
f 103.313.000
These participations relate to
enterprises in whose capital we
have a 50% participation or less.
The participations figure at cost.
The valuation is however not
more than their intrinsic value on
the basis of the valuation
principles applied by FGH.
In accordance with these, the sum
of 9.4 million guilders under the
heading 'Participations'was
written off in 1981 and set against
'Depreciation of project costs' on
the profit and loss account.
The intrinsic value at the
beginning of the financial year in
accordance with the principles of
valuation applied by FGH
amounted to
Movements:
Acquisition of new and extension
of existing participations
68.558.000
29.824.000
72.321.000
7 565 000
Depreciation project costs
7.
7.233.000
7
9 7f?n nnn
Non-activated interest
7.
4.154.000
7.
4.143 000
Other results
7.
6.623.000
2 445 000
Distribution of profit
7.
790.000
5 560 000
Sale of participations
By consolidation after
7.
34.000
7.
310.000
acquisition of majority interest
7.
3.610.000
7.
1.000.000
Intrinsic value at the end of
the fiscal year
Loans and credits
f
75.938.000
f
68.558.000
Receivables covered by
mortgages
Other receivables
f
14.705.000
52.384.000
f
15.657.000
25.135.000
67.089.000
40.792.000
50