The amounts included in the explanatory notes are in millions of euros, unless stated otherwise.
Non-current financial assets
Participating interests in group companies
(in millions of euros) | 2017 | 2016 |
Balance as at 1 January | 3,511 | 3,309 |
Share in result | 24 | 212 |
Dividend distributed for the previous reporting year | -79 | -41 |
Other changes | 20 | 31 |
Balance as at 31 December | 3,476 | 3,511 |
Equity
Other reserves
(in millions of euros) | Translation reserve | Hedging reserve | Fair value reserve | Actuarial reserve | Revaluation reserve for associates | General reserve | Total other reserves | Legal reserve developement costs |
|---|
Balance as at 1 January 2016 | 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 2016 | -11 | -7 | - | 29 | 30 | 2,079 | 2,120 | 167 |
| | | | | | | | | |
Movements revaluation reserves | -3 | 3 | - | 19 | 2 | | 21 | |
Dividend paid | | | | | | -79 | -79 | |
Result previous year | | | | | | 212 | 212 | |
Other movements | | | | | 40 | -96 | -56 | 55 |
| | -3 | 3 | - | 19 | 42 | 37 | 98 | 55 |
| | | | | | | | | |
Balance as at 31 December 2017 | -14 | -4 | - | 48 | 72 | 2,116 | 2,218 | 222 |
The legal reserve was formed for software development costs. A revaluation reserve was formed for direct changes to the equity in joint ventures and for the undistributable portion of the equity of NS Insurance.
Off-balance-sheet commitments
No claims have been brought against NV Nederlandse Spoorwegen and the consolidated participating interests, other than as indicated in note 31, that have not been recognised appropriately in the balance sheet.
For the purpose of income tax, both NV Nederlandse Spoorwegen and its Dutch subsidiaries are part of the NV Nederlandse Spoorwegen fiscal unity. Consequently NV Nederlandse Spoorwegen is jointly and severally liable for the tax liabilities of the subsidiaries included in the fiscal unity.
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 participating interests.
Utrecht, 28 February 2018
Supervisory Board | Executive Board |
Mr. G.J.A. van de Aast
Chairman | Mr. R.H.L.M. van Boxtel
CEO |
Mrs. M.E. van Lier Lels | Mr. H.L.L. Groenewegen
Finance Director |
Mr. J.J.M. Kremers | Mrs. S.M. Zijderveld
Chief Governance, Risk & Compliance Officer |
Mr. P. Rosenmöller | Mrs. M.E.F. Rintel
Director of Operations |
Mrs. J.L. Stuijt | Mr. T.B. Smit
Commerce & Development Director |
Mr. W.J. van der Feltz | |