Notes to the company statement of financial position and income statement

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)

2018

2017*

Balance as at 1 January

3,476

3,509

Effect change of accounting policy pensions

-

2

Changes due to application of IFRS 9

45

-

Revised balance as at 1 January 2017

3,521

3,511

Share in result

106

46

Dividend distributed for the previous reporting year

-8

-79

Other changes

-3

-2

Balance as at 31 December

3,616

3,476

  • * adjusted for change in accounting principle regarding the United Kingdom railway pension schemes, as explained in Section 1

Equity

Other reserves

(in millions of euros)

Hedging reserve

Fair value reserve

Actuarial reserve

General reserve

Total other reserves

 

Legal reserve developement costs

 

Revaluation reserve for associates

 

Legal reserve translation differences

Balance as at 1 January 2017

-7

-

29

2,079

2,101

 

167

 

30

 

-11

Effect change of accounting policy

  

-30

37

7

   

-9

  

Revised balance as at 1 January 2017

-7

-

-1

2,116

2,108

 

167

 

21

 

-11

            

Changes revaluation reserves

3

-

1

 

4

   

-

 

-3

Dividend paid

   

-79

-79

      

Result previous period

   

212

212

      

Other changes

   

-96

-96

 

55

 

40

  
 

3

-

1

37

41

 

55

 

40

 

-3

            

Balance as at 31 December 2017

-4

-

-

2,153

2,149

 

222

 

61

 

-14

Changes due to application of IFRS 9

 

45

  

45

      

Balance as at 1 January 2018

-4

45

-

2,153

2,194

 

222

 

61

 

-14

            

Changes revaluation reserves

-3

-

-

 

-3

   

-

  

Dividend paid

   

-8

-8

      

Result previous period

   

46

46

      

Other changes

  

-

-59

-59

 

59

    
 

-3

-

-

-21

-24

 

59

 

-

 

-

            

Balance as at 31 December 2018

-7

45

-

2,132

2,170

 

281

 

61

 

-14

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. The reserve for  translation differences comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations, as well as from the translation of liabilities that hedge the company's net investment in a foreign group company.

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 tax group. Consequently NV Nederlandse Spoorwegen is jointly and severally liable for the tax liabilities of the subsidiaries included in the tax group.

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, 21 February 2019

Supervisory Board

Board of Directors

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 and Developement Director

Mr. W.J. van der Feltz