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
7. Assets and liabilities held for sale
The balance sheet items presented as discontinued
and discontinued operations
operations are as follows:
2008
2007
On 27 July 2007, BinckBank announced its intention
x € 1,000
x € 1,000
to demerge the share trading operations by means
Banks
of a management buyout. The activities were
-
5,781
Financial assets held
previously reported under the Trading segment. On
for trading
30 June 2008, the share trading activities of Binck
-
3,775
Intangible assets
Securities B.V. (formerly a 100% subsidiary) were
-
423
Property, plant and
demerged by means of a management buyout .
equipment
BinckBank N.V. has retained an interest of 39% in
-
188
Other assets
the company, which now has the name Accion N.V.
-
1,864
Total assets
The results presented in the income statement
-
12,031
under the heading of discontinued operations are
Other liabilities
as follows:
-
6,147
2008
2007
Total liabilities
-
6,147
x € 1,000
x € 1,000
Revenue
2,872
11,114
Expenses
The net cash flows from the discontinued
(2,730)
(9,025)
operations were as follows:
Result before tax from
2008
2007
discontinued operations
142
2,089
x € 1,000
x € 1,000
Tax
(36)
(533)
Cash flow from
(1,212)
49,684
Result after tax from
operating activities
discontinued operations
Cash flow from
106
1,556
investing activities
-
(621)
Earnings per share (in €):
Cash flow from
(4,569)
(9,000)
Ordinary earnings per share
financing activities
on discontinued operations
-
0.05
Total net cash (outflow)/
The comparative figures for 2007 include the
inflow
(5,781)
40,063
results from discontinued operations relating to the
bond trading operation. The demerger of the bond
Opening balance of cash
trading operation was completed on 1 October 2007
and cash equivalents
5,781
(34,282)
with the transfer of the activities to Florint B.V.
Closing balance of cash
BinckBank acquired an interest of 35% in the share
and cash equivalents
-
5,781
capital of the unlisted company Florint B.V. At the
time of incorporation, the remaining positions in
Movements in net cash
(5,781)
40,063
bonds of the Binck Securities B.V. bond trading
operations were sold at fair value (€ 4.2 million) to
Florint B.V.