Transactions with related parties are conducted on an arm’s-length basis.
All issued shares are held by the State of the Netherlands. One significant transaction with an enterprise that has a relationship with the State (DUO, the Dutch Education Executive Agency) is the remuneration received for student railcards (€448 million in 2018, €468 million in 2017).
The infrastructure charge for the Dutch infrastructure is paid to ProRail BV, a State-affiliated company. This is explained in note 31.
Furthermore, the Group received a sum of €18 million in grants from the State in 2018 through various schemes (2017: €27 million). These grants are recognised as revenue.
The transactions with the Executive Board and the Supervisory Board members are explained in note 2.
There were no significant transactions in 2018 or 2017 with joint ventures and other participating interests.
Group companies
The main companies included in the consolidated financial statements are:
| | Percentage intrest | Statutory Seat |
| | 2018 | 2017 | |
Operating companies | | | |
NS Reizigers BV* | 100.0 | 100.0 | Utrecht |
Abellio Transport Holding BV | 100.0 | 100.0 | Utrecht |
NedTrain BV* | 100.0 | 100.0 | Utrecht |
NS Financial Services (Holdings) Ltd | 100.0 | 100.0 | Dublin |
NS Stations BV* | 100.0 | 100.0 | Utrecht |
NS Vastgoed BV* | 100.0 | 100.0 | Utrecht |
NS Insurance NV | 100.0 | 100.0 | Utrecht |
NS Opleidingen BV* | 100.0 | 100.0 | Utrecht |
NS Lease BV* | 100.0 | 100.0 | Utrecht |
| | | | |
Subsidiaries of operating companies | | | |
Thalys Nederland NV* | 100.0 | 100.0 | Utrecht |
NS Internationaal BV* | 100.0 | 100.0 | Utrecht |
NS Stations Retailbedrijf BV* | 100.0 | 100.0 | Utrecht |
NS Fiets BV* | 100.0 | 100.0 | Utrecht |
NS OV-Fiets BV* | 100.0 | 100.0 | Utrecht |
Stationsfoodstore BV* | 100.0 | 100.0 | Utrecht |
NS Poort Ontwikkeling BV | 100.0 | 100.0 | Utrecht |
NS Financial Services Company | 100.0 | 100.0 | Dublin |
DISA Assets Ltd | 100.0 | 100.0 | Dublin |
Abellio Nederland BV | 100.0 | 100.0 | Utrecht |
Abellio Transport Group Ltd | 100.0 | 100.0 | Glasgow |
Abellio Transport Holdings Ltd | 100.0 | 100.0 | London |
Abellio Greater Anglia Ltd | 100.0 | 100.0 | London |
Abellio East Anglia Ltd | 60.0 | 60.0 | London |
Abellio West Midlands Ltd | 70.1 | 70.1 | Birmingham |
Abellio Rail Baden-Württemberg GmbH | 100.0 | 100.0 | Stuttgart |
Abellio Rail Mitteldeutschland GmbH | 100.0 | 100.0 | Halle |
Abellio Rail NRW GmbH | 100.0 | 100.0 | Essen |
Abellio GmbH | 100.0 | 100.0 | Essen |
Abellio ScotRail Ltd | 100.0 | 100.0 | Glasgow |
Abellio West London Ltd | 100.0 | 100.0 | London |
Abellio London Ltd | 100.0 | 100.0 | London |
WestfalenBahn GmbH | 100.0 | 100.0 | Bielefeld |
| | | | |
Joint ventures | | | |
Merseyrail Services Holding Company Ltd | 50.0 | 50.0 | Hampshire |
| | | | |
Other interests | | | |
Eurofima AG | 5.8 | 5.8 | Basel |
- *
Pursuant to the provisions of Section 403, Book 2 of the Dutch Civil Code, NS Groep NV has assumed liability in respect of the debts arising from legal acts.
Pursuant to Sections 379 and 414, Book 2 of the Dutch Civil Code, a complete list of the Group's subsidiaries, associates and joint ventures has been filed with the office of the Trade Register in Utrecht.