Annual Report Coforta 2015

Page 65

Non-consolidated associates in thousands of euros

Net asset value at January 1

2015

2014

31,423

43,651

Acquisitions

5

Divestments

(17,222)

Share in result

11,026

10,489

Dividends received

(4,910)

(5,500)

Other movements Net asset value at December 31

5 37,544

31,423

2015

2014

1,899

1,892

Other long-term receivables in thousands of euros

Net book value as at January 1 Deconsolidation Loans granted Provision Loan redemption Loan write-off Net book value as at December 31

(23) 2,743

50

85 (523)

(20)

(87) 4,117

1,899

In connection with the sale of real estate in Bleiswijk, Houweling Klappolder B.V. was granted suspension of payment on 22 April 2015 regarding a part of the purchase price, which was converted into a loan of EUR 2.5 million, subject to an interest rate of 3.5% and a term of 10 years and 2.5 months. In addition, Jarno Goesten Packaging BV was granted a loan of EUR 243,000 to finance activities taken over in the mushroom segment. The book value of these loans as at the balance sheet date amounted to EUR 2.35 million and EUR 180,000 respectively. In 2013, a loan was granted to the minority holding Inova Fruit B.V., and a provision of EUR 1.0 million was made for the possibility of impairment. In 2015 a repayment of this subordinated loan was effected in the amount of EUR 282,00. A review of the provision resulted in a release of EUR 85,000. The amount recognised under 'Loan redemption' comprises regular repayments, largely in connection with the loans mentioned above. The loan granted to Stichting Merkartikel Bio+ in 2010 (balance at year-end 2014: EUR 20,000) was fully repaid in 2015. Finally, the figures include a write-down of EUR 87,000 in connection with the bankruptcy of a French peargrowing business.

Notes to the consolidated balance sheet

65


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