8.5 Notes to the company statement of financial position

Intangible assets (goodwill)

x € 1,000

Intangible assets comprise goodwill purchased on the acquisition of IBC in 2001. Historical cost was €47.2 million and accumulated impairment was €26 million.

Financial assets

x € 1,000

With effect from 2022, loans to group companies are being presented in financial assets in view of their long-term nature (the comparative figures for 2021 have been restated accordingly).

Investments in Group companies

x € 1,000

The investments in Group companies are direct or indirect interests in them. The principal Group companies are listed in section 7 of the consolidated financial statements.

Loans granted to group companies

x € 1,000

Loans granted to group companies predominantly have a maturity of more than one year.

Deferred tax assets

Deferred tax assets relate to losses of the Heijmans N.V. tax group which have been recognised but not yet utilised. The movements in the financial year were as follows:

x € 1,000

See note 6.15 to the consolidated financial statements for details of the deferred tax asset relating to losses of the Heijmans N.V tax group which have not yet been utilised.

Cash and cash equivalents

Cash balances are at the free disposal of the Company.

Equity

Authorised share capital

Composition of the authorised share capital is as follows:

As at 31 December 2022, the number of ordinary shares issued was 23,552,926 (2021: 22,760,479). All the outstanding shares are paid up, which represents a value of €7,065,877.80 (at €0.30 per share) (2021: 6,828,143.70 at €0.30 per share). Depositary receipts are issued for ordinary shares. Holders of depositary receipts have the option to convert these into shares under certain conditions. This option has been exercised for 7 depositary receipts. The holders of ordinary shares or their depositary receipts are entitled to dividend and have the right to exercise 30 votes per share at meetings of the Company’s shareholders.

Refer to section 6.22 of the consolidated financial statements for the notes on the rights and obligations relating to the cumulative financing preference shares B.

Share premium reserve

The share premium reserve consists of the capital paid up in excess of the nominal value.

Reserve for investees

The statutory reserve for investees represents the difference between the retained earnings and the direct changes in equity as calculated using the parent company’s accounting policies on the one hand and that portion for which the parent company can determine distribution on the other hand. The statutory reserve is determined for each investee individually. This reserve is not freely distributable.

Hedging reserve

The hedging reserve represents the effective portion of the cumulative net change in the fair value of the cash flow hedging instruments relating to hedged transactions that have not yet occurred. This reserve is not freely distributable.

Reserve for actuarial results

The reserve for actuarial results represents the actuarial results on employee-benefits (see note 6.23 to the consolidated financial statements).

Reserve for Bonus Investment Share Matching Plan

For information on the reserve for the Bonus Investment Share Matching Plan, see note 6.29 to the consolidated financial statements.

Appropriation of result

It is proposed to distribute 40% of the result after tax, of €60 million, as dividend on ordinary shares of their depository receipts and to add the remainder to the reserves, as stated in the ‘11.1 Appropriation of results’ section of the report.

Payables

x € 1,000

Movements in financing preference shares

x € 1,000