Annual report - HSE

Short-term operating liabilities (14)
in €
Short-term operating liabilities 31 December 2012 31 December 2011
To Group companies 82,492,658 61,178,574
To joint ventures 153,522 0
To suppliers 105,974,512 81,210,143
Advances 5,253 355,977
To employees 923,290 757,824
To government and other institutions 21,411,321 2,539,361
Other 36,796 40,653
TOTAL 210,997,352 146,082,532
Among its short-term operating liabilities to Group companies, the company mainly
discloses the liabilities associated with the electricity purchased from subsidiaries.
Liabilities to individual Group company as at reporting date are listed in the table below:
in €
Group companies Country 31 December 2012 31 December 2011
Termoelektrarna Šoštanj d.o.o. Slovenia 39,782,385 33,785,172
Dravske elektrarne Maribor d.o.o. Slovenia 10,528,603 9,299,893
Soške elektrarne Nova Gorica d.o.o. Slovenia 10,028,796 4,974,527
Termoelektrarna Trbovlje d.o.o. Slovenia 5,360,894 8,029,239
HESS d.o.o. Slovenia 1,560,923 1,222,254
MHE Lobnica d.o.o. Slovenia 5,323 0
HSE Invest d.o.o. Slovenia 210,934 142,408
HTZ VELENJE I.P. d.d. Slovenia 5,182 37,137
Premogovnik Velenje d.d. Slovenia 22,933 53,572
HSE Adria d.o.o. Croatia 6,162,081 2,426,788
HSE Balkan Energy d.o.o. Serbia 1,484,517 211,642
HSE BH d.o.o. Bosnia and Herzegovina 3,449,097 798,907
HSE Bulgaria EOOD Bulgaria 584,777 195,300
HSE MAK Energy DOOEL Macedonia 3,306,213 0
GOST d.o.o. Slovenia 0 1,735
Total short-term operating liabilities 82,492,658 61,178,574
to Group companies
The company’s short-term operating liabilities to suppliers mainly relate to liabilities
associated with the electricity purchased in Slovenia and abroad. The 2012 liabilities to
suppliers were higher than in the previous period, due to increase in its electricity trading
activities.
Short-term liabilities to the government and other institutions include VAT liabilities,
customs duty liabilities, liabilities for December contributions for salaries and contributions
on other employment-related income payable by the employer. The most significant item
are VAT liabilities. On 1 January 2013, the Act Amending the Value Added Tax Act (ZDDV-
1 G) became effective, under which invoices from abroad are recorded in VAT records
by the issuance date. Before the discussed amendment, VAT was charged on the day
when a relevant service was carried out. Due to this change, as a consequence of self-tax
assessment, the right to deduct input VAT was delayed from December 2012 to January
2013.
Annual Report HSE 2012
4 Financial Report of the company HSE
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