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Notes to the company statement of financials position and statement of income

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)

2020

2019

Balance as at 1 January

3,763

3,582

Share in result

-2,378

208

Dividend distributed for the previous reporting period

-

-37

Other changes

-33

10

Balance as at 31 December

1,352

3,763

Equity

Other reserves

(in millions of euros)

Hedging reserve

Fair value reserve

Actuarial reserve

General reserve

Total other reserves

 

Legal reserve for development costs

 

Revaluation reserve for associates

 

Legal reserve for translation differences

Balance as at 1 January 2019

-7

45

-

2,099

2,137

 

281

 

59

 

-14

            

Changes in revaluation reserves

2

7

  

9

   

-

 

2

Dividend paid

  

-

-37

-37

      

Result for previous reporting period

   

106

106

      

Other changes

   

-69

-69

 

69

    
 

2

7

-

-

9

 

69

 

-

 

2

            

Balance as at 31 December 2019

-5

52

-

2,099

2,146

 

350

 

59

 

-12

            

Changes in revaluation reserves

-18

1

-1

 

-18

   

-

 

-9

Dividend paid

  

-

-73

-73

      

Reverse dividend paid

   

73

73

      

Result for previous reporting period

   

208

208

      

Other changes

   

99

99

 

-110

 

5

  
 

-18

1

-1

307

289

 

-110

 

5

 

-9

            

Balance as at 31 December 2020

-23

53

-1

2,406

2,435

 

240

 

64

 

-21

The legal reserve was formed for software development costs. The 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 hedging reserve is a legal reserve consisting 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 fair value reserve is a legal reserve consisting of the cumulative change in the fair value of investments recognised at fair value in other comprehensive income until such time as the investment is no longer recognised in the balance sheet.

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 2021

Supervisory Board

Executive Board

Mr. G.J.A. van de Aast
Chair

Ms. M.E.F. Rintel
CEO

Ms. M.E. van Lier Lels

Mr. H.L.L. Groenewegen
Finance Director

Mr. H.H.J. Dijkhuizen

Ms. A.M.E. de Vries
Stations and Risk Management Director

Ms. N. Albayrak

Mr. T.B. Smit
Commerce & Development Director

Ms. J.L. Stuijt

 

Mr. W.J. van der Feltz

 
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