Notes to the company statement of financial position and income statement
The amounts included in the notes are in millions of euros, unless stated otherwise.
Non-current financial assets
Participating interests in group companies
(in millions of euros) | 2021 | 2020 |
Balance as at 1 January | 1,352 | 3,763 |
Share in result | 339 | -2,378 |
Dividend distributed for the previous reporting period | - | - |
Other movements | 4 | -33 |
Balance as at 31 December | 1,695 | 1,352 |
Equity
(in millions of euros) | Share capital | Statutory hedging reserve | Statutory fair value reserve | Actuarial reserve | Statutory reserve for development costs | Statutory revaluation reserve for participating interests | Statutory reserve for translation differences | General reserve | Unappropriated result | Total equity | |
Balance as at 1 January 2020 | 1,012 | -5 | 52 | - | 350 | 59 | -12 | 2,099 | 208 | 3,763 | |
Changes in revaluation reserves | - | -18 | 1 | -1 | - | - | -9 | - | - | -27 | |
Dividend paid to shareholder | - | - | - | - | - | - | - | -73 | - | -73 | |
Reversal of dividend paid to shareholder | - | - | - | - | - | - | - | 73 | - | 73 | |
Result for the financial year | - | - | - | - | - | - | - | 208 | -2,378 | -2,170 | |
Other movements | - | - | - | - | -110 | 5 | - | 307 | -208 | -6 | |
- | -18 | 1 | -1 | -110 | 5 | -9 | 307 | -2,586 | -2,411 | ||
Balance as at 31 December 2020 | 1,012 | -23 | 53 | -1 | 240 | 64 | -21 | 2,406 | -2,378 | 1,352 | |
Changes in revaluation reserves | - | 29 | - | - | 62 | - | -14 | -62 | - | 15 | |
Dividend paid to shareholder | - | - | - | - | - | - | - | - | - | - | |
Reversal of dividend paid to shareholder | - | - | - | - | - | - | - | - | - | - | |
Result for the financial year | - | - | - | - | - | - | - | - | 339 | 339 | |
Other movements | - | - | - | - | - | - | - | -2,389 | 2,378 | -11 | |
- | 29 | - | - | 62 | - | -14 | -2,451 | 2,717 | 343 | ||
Balance as at 31 December 2021 | 1,012 | 6 | 53 | -1 | 302 | 64 | -35 | -45 | 339 | 1,695 |
The legal reserve was formed for software development costs. The statutory revaluation reserve was formed for direct changes to the equity in joint ventures and for the non-distributable portion of the equity of NS Insurance. The legal reserve for translation differences comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations, as well as from the translation of liabilities that hedge the company's net investment in a foreign group company.
The statutory hedging reserve consists of the cumulative change in the fair value of hedging instruments (derivatives) where the hedged transaction has not yet taken place or the hedged position has not yet been settled.
The statutory fair value reserve comprises the cumulative change in the fair value of investments measured at fair value - total comprehensive income and the cumulative change in the fair value of investments measured at fair value - debt investment, until the investment is derecognised.
Off-balance sheet commitments
No claims have been brought against NV Nederlandse Spoorwegen and the consolidated participating interests, other than as indicated in note 32, that have not been recognised appropriately in the balance sheet.
For the purpose of corporation tax, both NV Nederlandse Spoorwegen and its Dutch subsidiaries are part of the NV Nederlandse Spoorwegen tax entity. Consequently, NV Nederlandse Spoorwegen is jointly and severally liable for the tax liabilities of the subsidiaries included in the tax entity.
Key participating interests
NV Nederlandse Spoorwegen is the holding company of NS Groep NV. NS Groep NV is the sole subsidiary of NV Nederlandse Spoorwegen. Please refer to note 32 for an overview of the participating interests
Utrecht, 24 February 2022
Supervisory Board | Executive Board |
Mr G.J.A. van de Aast | Ms M.E.F. Rintel |
Ms M.E. van Lier Lels | Mr H.L.L. Groenewegen |
Mr H.H.J. Dijkhuizen | Mr E.F.W. van Asch |
Ms N. Albayrak | Ms A.M.E. de Vries |
Ms J.L. Stuijt | Mr T.B. Smit |
Mr W.J. van der Feltz |