CFE - 2006 annual report - Vinci

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13. Goodwill (in thousand Euro) 2006 2005 Acquisition costs Balance at the end of the previous period 8,152 5,511 Acquisitions through business combinations 1,504 2,733 Adjustments from the identification or changes in identifiable asset & liability value 9 (92) Balance at the end of the period 9,665 8,152 Depreciations and impairment Balance at the end of the previous period (557) (557) Impairment of the period (533) 0 Balance at the end of the period (1,090) (557) Net carrying amount At January, 1 st 7,595 4,954 At December, 31 st 8,575 7,595 The non-allocated goodwill relates to the acquisitions through business combinations at DEME. It refers to the goodwill generated by the acquisition of the remaining 50% of Geo@Sea (971 thousand Euro) and HSS (533 thousand Euro). The most important goodwill as per December 31, 2006 are on Roodebeek (8 thousand Euro), Amca (127 thousand Euro), group Van Wellen (2,733 thousand Euro) and the goodwill from DEME mainly related to DIAP (1,512 thousand Euro), Geo@Sea (971 thousand Euro) and the group Ecoterres Holding (2,757 thousand Euro) as well as to other entities of the group DEME (467 thousand Euro). In accordance with IAS 36 – Impairment of assets, goodwill has been subject to impairment tests as per December 31 2006. The value of use of the CGU (Cash-Generating Unit) is obtained on the basis of the discounted operating cash flows forecasts before taxes over a period of 5 years. The CGU’s are evaluated by activity. The group CFE considers DEME as one CGU. The carrying amount of the goodwill acquired through business combinations is allocated to each Cash-Generating Unit on a consistent and reasonable manner. In 2006 and in accordance with IFRS 3 – Business Combinations, the goodwill acquired through the acquisition of HSS at DEME was submitted to a depreciation test performed according to IAS 36 – Impairment of assets and was completely depreciated for an amount of 533 thousand Euro. 1 4 1
1 4 2 14. Intangible assets other than goodwill Exercise 2006 (in thousand Euro) Acquisition costs Concessions, patents and licenses Development costs Balance at the end of the previous period 4,792 590 5,382 Exchange differences (122) (122) Acquisitions through business combinations Acquisitions 2,717 2,717 Disposals (498) (2) (500) Change within the consolidation scope 66 66 At the end of the period 6,955 588 7,543 Depreciations and impairment Balance at the end of the previous period (2,091) (507) (2,598) Exchange differences 2 2 Acquisitions through business combinations Depreciations of the period (339) (58) (397) Impairment Disposals 492 2 494 Change within the consolidation scope (67) (67) At the end of the period (2,003) (563) (2,566) Net carrying amount At January, 1 st 2006 2,701 83 2,784 At December, 31 st 2006 4,952 25 4,977 C F E F I N A N C I A L R E P O R T 2 0 0 6 I 1 2 6 t h C F E F I N A N C I A L R E P O R T 2 0 0 6 I c o r p o r a t e f i n a n c i a l y e a r 1 2 6 t h c o r p o r a t e f i n a n c i a l y e a r Total
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Compagnie d’Entreprises CFE SA A
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Well-managed growth With a 19% incr
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Men and women serving the group ●
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July • Delivery of the renovated
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Philippe Ratynski Philippe Ratynski
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IFRS Belgian Standards Data in EUR
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from the left to the right: Patrick
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Workforce developments in the Const
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Last, but not least, we must emphas
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Evolution of the frequency rate - D
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Theme Commitments Initiatives Human
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2 3
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2 6 Overall view of the watertreatm
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2 8 In the Netherlands, the work do
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3 0 Koen Vande Voorde, 37 years Sit
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3 2 Façade of “Résidence Theys
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3 4 Extension of Dredging Internati
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3 6 New all-purpose sports centre
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3 8 Construction of an office build
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4 0 Suite of offices for the Europe
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4 2 Museum of Modern Art in Luxembo
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4 4 Lorem André de Ipsum Koning do
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4 6 Bernard Cols Bruno Lambrecht, C
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4 8 Lorem Gérard Ipsum Bourelly, d
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5 0 “Médiacité” business comp
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5 2 “Sand Court” project for th
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5 4 “Botanic” building in Bruss
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5 6 Patrick Van Craen Damien Quinet
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5 8 New lighting for the large hall
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6 0 Saint-Michel clinic in Brussels
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6 2 Erecting of catenaries by Engem
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6 4
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6 6 from the left to the right: Mar
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6 8 The brand new trailer “Mariek
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7 0 In Richard’s Bay, South Afric
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7 2 ● Venezuela DI further consol
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7 4 DEC was selected as one of the
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7 6 Financial report Corporate gove
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7 8 Table of contents Corporate gov
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8 0 Corporate governance 1. Composi
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8 2 Bernard Huvelin VINCI 1, cours
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8 4 Co-opted Director whose nominat
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8 6 2. Operation of the Board of Di
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8 8 2.2 The Appointments and Compen
Page 91 and 92: 9 0 3.3 Compensation of the Managin
Page 93 and 94: 9 2 Remuneration of the auditors of
Page 95 and 96: 9 4 Dredging & environment segment
Page 97 and 98: 9 6 Contribution to the net resultp
Page 99 and 100: 9 8 B. Risk factors 1. Risks common
Page 101 and 102: 1 0 0 1.3 Management and workforce
Page 103 and 104: 1 0 2 C. Insurance policy The CFE g
Page 105 and 106: 1 0 4 6. Discharge to be given to t
Page 107 and 108: 1 0 6 Definitions Associates Capita
Page 109 and 110: 1 0 8 Transactions in 2005 1. Const
Page 111 and 112: 1 1 0 Consolidated balance sheet Fo
Page 113 and 114: 1 1 2 Statement of changes in Equit
Page 115 and 116: 1 1 4 Notes to the consolidated fin
Page 117 and 118: 1 1 6 The Financial Statements prep
Page 119 and 120: 1 1 8 F. Goodwill 1. Goodwill Goodw
Page 121 and 122: 1 2 0 Leases of assets under which
Page 123 and 124: 1 2 2 P. Share capital Own shares p
Page 125 and 126: 1 2 4 T. Trade and other payables T
Page 127 and 128: 1 2 6 X. Derivative financial instr
Page 129 and 130: 1 2 8 Revenue (in thousand Euro) 20
Page 131 and 132: 1 3 0 Balance sheet at December 31
Page 133 and 134: 1 3 2 For the exercise 2005 Fair va
Page 135 and 136: 1 3 4 Income statement 4. Revenue f
Page 137 and 138: 1 3 6 9. Income tax expenses Recogn
Page 139 and 140: 1 3 8 10. Profit per share The basi
Page 141: 1 4 0 Assets items under lease Cert
Page 145 and 146: 1 4 4 15. Investments available for
Page 147 and 148: 1 4 6 17. Other non current assets
Page 149 and 150: 1 4 8 21. Cash and cash equivalents
Page 151 and 152: 1 5 0 Movement in the fair value of
Page 153 and 154: 1 5 2 Interest rate risk The group
Page 155 and 156: 1 5 4 26. Financial debts As per De
Page 157 and 158: 1 5 6 29. Other commitments granted
Page 159 and 160: 1 5 8 • The group CFE sets up a t
Page 161 and 162: 1 6 0 List of the most important su
Page 163 and 164: 1 6 2 C F E F I N A N C I A L R E P
Page 165 and 166: 1 6 4 Statutory financial statement
Page 167 and 168: 1 6 6 Analysis of the income statem
Page 169: 1 6 8 The headquarter at your servi
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CFE - 2006 annual report - Vinci

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