Boskalis Annual Report 2020

106

BALANCE AS AT 1 JANUARY 2019

BALANCE AS AT 31 DECEMBER 2019

MOVEMENT IN TEMPORARY DIFFERENCES DURING THE YEAR

Charged (-) /added to net profit

In / (out) consolidation and business combinations

Currency translation differences

Charged to equity

Asset

Liability

Asset

Liability

Intangible assets

195 128

- 1,999 - 3,005

157

- - -

-

1 3

206 152

- 1,852 - 6,590

Property, plant and equipment Trade and other receivables

- 3,291

- 273

57

- -

-

- -

- -

57

- -

Hedging reserve

1,000

- 69

- 531

400

Actuarial gains / losses (-) and asset limitation on defined benefit pension plans

7,324 3,518

-

- 2,584 3,009

1,852

- - - - - - - - -

16

6,608 3,974

-

Employee benefits

- 3,400

- - - - - - -

- 17

- 864

Provisions

731 249 354 276

- -

- 720

14

25

- -

Interest-bearing borrowings Trade and other payables Other assets and liabilities

-

-

249 428 253 105

- 95

67

3

- 99

- 709

377

- 247

- 556

Leases

- -

-

97

- -

- 8

Foreign branch results

- 1,436

-

-

- 1,436

Income tax losses carried forward

47

-

11,651

1,135 2,456

5

12,838 25,295

-

13,879

- 10,644

8,694

- 273

- 222

- 11,405

Offsetting of deferred income tax assets and liabilities

- 4,874

4,874

- 9,955

9,955

Net in the Consolidated Statement of Financial Position

9,005

- 5,770

15,340

- 1,450

Deferred income tax assets are not recognized as long as it is not probable that economic benefits can be expected in future periods. Deferred income tax assets and liabilities within fiscal unities are offset in the statement of financial position. The following movements in deferred income tax assets and liabilities, including applicable income tax rate changes, together with the items they relate to, are recognized in the statement of other comprehensive income:

ANNUAL REPORT 2020 – BOSKALIS FINANCIAL STATEMENTS 2020 ANNUAL REPORT 20 -- BOSKALIS FINANCIAL S ATEMENTS 020 Fair value of cash flow hedges Fair value of cash flow hedges

2020

INCOME TAX (EXPENSE) BENEFIT

BEFORE INCOME TAX

NET OF INCOME TAX

Foreign currency translation differences for foreign operations, including net-investment hedges

- 65,901 - 10,853 - 3,005 - 79,759

173

- 65,728 - 10,956 - 1,675 - 78,359

- 103 1,330 1,400

Actuarial gains / losses (-) and asset limitation on defined benefit pension plans

2019

INCOME TAX (EXPENSE) BENEFIT

BEFORE INCOME TAX

NET OF INCOME TAX

Foreign currency translation differences for foreign operations, including net-investment hedges

22,428 - 7,753 - 7,822

1,135 - 531 1,852 2,456

23,563 - 8,284 - 5,970

Actuarial gains / losses (-) and asset limitation on defined benefit pension plans

6,853

9,309