The intangible fixed assets comprise research & development and software & licences. The internally executed Payment project has been capitalised (€ 201,000). Tangible fixed assets comprise the premises, inventory, transport vehicles and IT hardware. The fixed assets are stated at the acquisition value net of annual straight-line depreciation.
Approximately 30% of the financial fixed assets comprise marketable securities (worldwide index trackers) while 70% are bonds, valued at acquisition price or lower market value.
The other items are stated at face value.
Amounts are due from the WIPO (Madrid arrangement), OHIM (collaboration agreement) and the Tax Authorities (VAT). The accrued interest on bonds and on prepayments and accrued income is also recognised under accounts receivable.
Liquid cash assets mainly relate to bank account balances.
Provisions comprise a provision for reorganisation, a provision for anniversaries and a provision for large-scale maintenance.
Deferred income relates to payments for services not yet rendered.
Short-term staff-cost-related debt mainly comprises a reserve for holiday pay and annual leave as well as statutory payroll tax and social security contributions due.
To conclude, other short-term debt comprises creditors, deferred income and reserves set aside for invoices to be received.
