2005	2004
	Notes		(in TEUR)	(in TEUR)
Assets
Intangible assets			8.745	7.061
Goodwill			120.683	107.561
Property, plant and equipment			140.538	125.390
Shares in associated companies			2.319	2.102
Investments			13.828	12.321
Fixed and financial assets	1.		286.113	254.435
Deferred tax assets	17.		21.845	21.854
Inventories	2.		198.788	139.972
Advance payments made	3.		21.265	14.142
Trade accounts receivable	4.		237.180	201.763
Cost and earnings of projects under
construction in excess of billings	5.		80.532	115.950
Other receivables	6.		46.148	63.314
Prepayments and deferred charges			5.378	4.920
Marketable securities			75.257	63.097
Cash and cash equivalents			418.785	273.939
Current assets			1.083.333	877.097
Total assets			1.391.291	1.153.386
Shareholders' equity and liabilities
Share capital			94.510	94.510
Capital reserves			45.966	45.966
Retained earnings			179.941	129.436
Equity attributable to shareholders of the parent			320.417	269.912
Minority interests			8.335	7.169
Total shareholders' equity			328.752	277.081
Bonds			100.000	100.000
Bank loans - non current			6.200	5.211
Provisions - non current	8./9.		92.105	77.800
Obligation under finance leases - non current			198	582
Non-current liabilities	10.		198.503	183.593
Liabilities for deferred taxes	17.		45.036	58.693
Bank loans - current			3.361	11.207
Obligations under finance leases - current			384	421
Trade accounts payable			151.398	132.970
Billings in excess of cost and earnings
of projects under construction	5.		250.609	197.832
Advance payments received			103.827	49.564
Provisions - current	8.		97.773	81.823
Liabilities for current taxes			20.643	10.368
Other current liabilities	11.		191.005	149.834
Current liabilities			819.000	634.019
Total Shareholders' equity and liabilities			1.391.291	1.153.386

balancesheet.htm

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The following notes to the consolidated financial statements form an integral part of this consolidated balance sheet.