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Financial statements

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3 Participations

The movement in the participations recognised in the financial fixed assets that do not belong to the group are as follows:

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6 Deferred tax asset

The compensable loss at year-end 2016 amounted to € 8.1 million (2015: € 11.9 million). Taking into account the compensable loss, the deferred tax asset has been set at 2.0 million.

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9 Deferred tax liabilities

The difference between the fiscal and commercial valuation of the participations is € 1.7 million for which a deferred tax liability of € 0.4 million is recognised. The deferred tax liability has a long-term nature.

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