NOTES TO INDIVIDUAL ITEMS IN THE COMPANY AND GROUP BALANCE SHEETS
Analysis of movements in reserves
Position as at 1 January 1998
Movements due to:
positieve exchange differences
results for the year
Position as at 31 December 1998
paid-in
surplus
revaluation
reserve
other
reserves
total
The paid-in surplus has been recognized for tax purposes.
24
Company balance sheet
Group balance sheet
FOREIGN CURRENCIES
Total foreign currency-denominated assets amount to
Total foreign currency-denominated liabilities amount to
1998
54,182
76,745
The risks of exchange rate fluctuations have been largely hedged.
DERIVATIVES
Unweighted credit equivalent
Weighted credit equivalent
521
261
1997
91,514
80,440
1998
54,182
76,745
1997
114,267
81,924
The credit equivalents provide 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 (Dutch central bank).
All contracts, for the purpose of covering interest rate risks, are concluded in the context of asset and liability management.
