Notes to the company balance sheet and income statement

The amounts included in the explanatory notes are in millions of euros, unless stated otherwise.

Financial non-current assets

Participating interests in group companies

(in millions of euros)

2016

2015

Balance as at 1 January

3,309

3,216

Share in result

212

118

Dividend distributed for the previous reporting year

-41

-48

Other changes

31

23

Balance as at 31 December

3,511

3,309

Equity

Revaluation reserve

The revaluation reserve includes a sum of €6 million that arose as the consequence of a revaluation to fair value of an extension to an existing interest in 2012.

Other reserves

(in millions euros)

Translation reserve

Hedging reserve

Fair value reserve

Actuarial reserve

Revaluation reserve for associates

General reserve

Total other reserves

Legal reserve development costs

Balance as at 1 January 2015

5

-39

-

4

16

1,946

1,932

92

         

Movements revaluation reserves

3

-4

-

13

11

 

23

 

Dividend paid

     

-48

-48

 

Result previous year

     

180

180

 

Other movements

     

-29

-29

29

 

3

-4

-

13

11

103

126

29

         

Balance as at 31 December 2015

8

-43

-

17

27

2,049

2,058

121

         

Movements revaluation reserves

-19

36

-

12

3

 

32

 

Dividend paid

     

-41

-41

 

Result previous year

     

118

118

 

Other movements

     

-47

-47

46

 

-19

36

-

12

3

30

62

46

         

Balance as at 31 December 2015

-11

-7

-

29

30

2,079

2,120

167

    The legal reserves has been created for development costs. Because of the nature of the activities of NS Insurance, a sum of €41 million (2015 : €41 million) is not freely disposable.

    Off balance sheet commitments

    No claims have been brought against NV Nederlandse Spoorwegen and the consolidated participating interests, other than as indicated in note 29, that have not been recognised appropriately in the balance sheet.

    For the purpose of income tax, all the Dutch subsidiaries belonging to the Group (with the exception of Qbuzz) are part of the NV Nederlandse Spoorwegen tax group, with the exception of the foreign corporate units. Consequently NV Nederlandse Spoorwegen is jointly and severally liable for the tax liabilities of the subsidiaries included in the tax group.

    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 associates.

    Utrecht, 24 February 2017

    Supervisory Board

    Board of Directors

    Mr. G. van de Aast

    Mr. R.H.L.M. van Boxtel

    Chairman

    CEO

      

    Ms. M. van Liers Lels

    Mr. H.L.L. Groenewegen

     

    CFO

      

    Mr. J.J.M. Kremers

    Ms. S. Zijderveld

     

    CGRC

      

    Mr. P. Rosenmöller

    Ms. W.E.F. Rintel

     

    COO

      

    Ms. J. Stuijt