NOTES ON INDIVIDUAL ITEMS IN THE COMPANY AND GROUP
BALANCE
SHEETS
Individual movements in the reserves
reserves required
were as follows:
by law and the
paid-in
articles of
other
surplus
incorporation
reserves
total
Position as at January 1, 1996
Movements due to:
74,865
28,695
333,923
437,483
- positive foreign exchange differences
41
41
- negative foreign exchange differences
- tax effects arising from foreign
(7,270)
(7,270)
exchange differences
12,402
12,402
- results for financial year
84,527
84,527
- transfer of statutory reserves
|28,695]
28,695
0
Position as at December 31, 1996
74,865
0
452,318
527,183
The paid-in surplus has been recognized
for tax purposes.
Company Balance Sheet
Group Balance Sheet
1996
1995
1996
1995
Foreign currencies
Total foreign currency-denominated
assets amount to
1,358,044
1,283,572
1,095,521
1,038,635
Total foreign currency-denominated
liabilities amount to
The positions primarily relate to US dollars.
The risks of exchange rate fluctuations have
been largely hedged.
1,093,284
1,120,764
812,501
858,081
Derivatives
Unweighted credit equivalent
7,976
12,019
9,000
13,074
Weighted credit equivalent
3,683
8,704
3,888
8,915
The credit equivalents give an indication of the credit risk incurred if other parties default on their obligations.The
weighted credit equivalent also takes account of the creditworthiness of the other party according to the criteria of
De Nederlandsche Bank N.V. (Dutch central bank).
All contracts are concluded in the context of asset and liability management.
