Annual report 2008
Binck Bank
- Consolidated Financial Statements
- Notes to the consolidated financial statements
- Notes to the consolidated balance sheet
- 8. Cash and balances with central banks 9. Banks 10. Financial assets held for trading 11. Financial assets at fair value through profit or loss
- 12. Available-for-sale financial assets 13. Loans and receivables
- 14. Held-to-maturity financial assets 15. Investments in associates
- 16. Intangible assets
- 17. Property, plant and equipment
- 18. Tax
- 19. Deferred tax
- 20. Other assets 21. Prepayments and accrued income 22. Derivative positions held on behalf of clients
- 23. Customer deposits 24. Financial liabilities at amortised cost 25. Provisions
- 26. Other liabilities 27. Accruals and deferred income
- 28. Shareholders' equity
- Notes to the consolidated income statement
- 29. Interest 30. Commission
- 31. Other income 32. Result on investments 33. Impairment losses on financial instruments 34. Employee expenses
- 35. Depreciation and amortisation 36. Other operating expenses 37. Earnings per share (euros)
- 38. Diluted earnings per share (euros) 39. Paid and proposed dividend
- 40. Related party disclosures
- 41. Liabilities not shown on the face of the balance sheet
- 42. Post-balance-sheet events 43. Segment information
- 44. Financial risks
- 45. Fair value financial instruments
- Company Financial Statements
- Notes to the company financial statements
- Notes to the company balance sheet
- C. Cash and balances with central banks d. Due from Banks e. Financial assets held for trading f. Financial assets at fair value through profit and loss
- G. Available-for-sale financial assets h. Loans and receivables i. Held-to-maturity financial assets j. Investments in subsidiaries and associates
- K. Intangible assets
- L. Property, plant and equipment
- M. Current tax assets n. Deferred tax o. Other assets
- P. Prepayments and accrued income q. Customer deposits r. Financial liabilities at amortised cost s. Provisions
- T. Other liabilities u. Accruals and deferred income
- V. Shareholders' equity w. Other information
Notes to the consolidated balance sheet
31 December 2008
31 December 2007
x € 1,000
x € 1,000
19. Deferred tax
Composition
Deferred tax assets
5,980
6,843
Deferred tax liabilities
(8,116)
(82)
Net deferred tax asset / (liability)
(2,136)
6,761
Maturity of deferred tax assets
< 1 year
2,148
1,388
1 5 years
3,832
5,455
> 5 years
-
-
5,980
6,843
Maturity of deferred tax liabilities
< 1 year
(3,031)
(20)
1 5 years
(1,413)
(62)
> 5 years
(3,672)
-
(8,116)
(82)
1 January
Income
Balance
31 December
2008
statement
sheet
2008
Origin of deferred tax assets and liabilities
Tax loss carryforwards
6,774
(794)
-
5,980
Available-for-sale financial assets
-
-
(3,406)
(3,406)
Goodwill and intangible assets
-
-
(2,792)
(2,792)
Pension provision
69
(69)
-
-
Other
(82)
(1,836)
-
(1,918)
Net asset / (liability)
6,761
(2,699)
(6,198)
(2,136)
1 January
Income
Balance
31 December
2007
statement
sheet
2007
Origin of deferred tax assets and liabilities
Tax loss carryforwards
2,900
3,874
-
6,774
Available-for-sale financial assets
-
-
-
-
Goodwill and intangible assets
-
-
-
-
Pension provision
63
6
-
69
Other
(109)
27
-
(82)
Net asset / (liability)
2,854
3,907
-
6,761
The tax loss carryforwards relate to the activities in Belgium and France. Binck België N.V. returned to
profitability in 2006. This along with revised future profit expectations for Binck België N.V. allowed an
additional € 4.3 million in respect of deferred tax assets to be recognised in 2007. An amount of approximately
€ 2.1 million was deducted from the deferred tax assets as having been utilised in 2008 (2007: approximately
€ 0.4 million).
The total tax losses as at year-end 2008 amounted to € 17.7 million (2007: € 19.9 million).