Notes on the company-only balance sheet and income statement
9. General
9.1 Principles
The company-only financial statements were prepared in accordance with the legal stipulations in Title 9 Book 2 DCC and the authoritative statements of the Dutch Accounting Standards for annual reporting, published by the Dutch Council for Annual Reporting.
The principles for valuation and the determination of the results for the company-only financial statements and the consolidated financial statements are the same. As the operational income statements of DELA cooperative have been processed in the consolidated financial statements, only the summarised company-only income statements are included in accordance with Article 2:402 DCC. Participations in group companies are valued in accordance with the equity value in compliance with section 2.5.2 of the consolidated financial statements.
For the principles used in the valuation of assets and liabilities and the result determination, we refer to the clarification in sections 2 and 3 related to the consolidated balance sheet and income statement.
9.2 Prior period error
In preparing the tax return for the 2023 reporting year, it was discovered that a non-material error had been made in the presentation of the tax expenses in the 2023 financial statements. This error has been retrospectively corrected in the 2024 financial statements to provide a clearer insight into the effective annual tax burden.
Change in presentation of comparative figures
| Amounts x €1,000 | Financial statements 2023 | Effect of error correction |
Financial statements 2024 | |
|---|---|---|---|---|
| Corrections in the balance sheet | ||||
| Participations | 1,006,459 | 4,681 | 1,011,140 | |
| Other reserves | 565,984 | 4,681 | 570,665 | |
| Corrections in the income statement | ||||
| Result of participations after tax | 1,343 | 4,681 | 6,024 | |
| Result after tax | -54,295 | 4,681 | -49,614 |
10. Participations
The participating interests concern a 100% interest in DELA Holding NV and a 100% interest in Voor Elkaar Holding NV.
Participations, movement schedule
| Amounts x €1,000 | 2024 | 2023 | |
|---|---|---|---|
| Balance on 1 January (after prior period error) | 1,011,140 | 1,046,024 | |
| Result from participation | 166,623 | -34,895 | |
| Investments | 10,000 | - | |
| Other value changes | - | 11 | |
| Balance on 31 December | 1,187,763 | 1,011,140 | |
| Acquisition value | 617,409 | 607,409 | |
| Cumulative changes | 570,354 | 403,731 | |
| Balance on 31 December | 1,187,763 | 1,011,140 |
11. Receivables
Receivables from group companies, movement schedule
| Amounts x €1,000 | 31-12-2024 | 31-12-2023 | |
|---|---|---|---|
| Fixed assets | |||
| DELA Holding NV | - | 3,500 | |
| Current assets | |||
| DELA Holding NV | 2,967 | 9,967 | |
| Total | 2,967 | 13,467 |
The average balance of these current account relationships is subject to an interest of 4,95 percent.
12. Cash and cash equivalents
The cash and cash equivalents are freely available to the legal person and consist entirely of bank balances.
13. Revaluation reserve
Revaluation, development
| Amounts x €1,000 | 2024 | 2023 | |
|---|---|---|---|
| Balance on 1 January | 401,855 | 437,905 | |
| From other reserves related to change in value of investments without frequent market listing | 110,606 | 45,944 | |
| To other reserves related to sale of investments without frequent market listing | -14,290 | -81,994 | |
| Balance on 31 December | 498,171 | 401,855 |
Revaluation reserves related to value changes in investments without frequent market quotations are statutory reserves.
14. Other statutory reserves
A statutory reserve was established equal to the amount of the capitalised expenses of internally developed software systems.
Other statutory reserves, developments
| Amounts x €1,000 | 2024 | 2023 | |
|---|---|---|---|
| Balance on 1 January | 35,437 | 33,200 | |
| To other reserves related to release of statutory reserve in participations | -4,940 | -2,089 | |
| From other reserves related to establishment of statutory reserve in participations | 2,598 | 4,326 | |
| Balance on 31 December | 33,095 | 35,437 |
15. Other reserves
Other reserves, development
| Amounts x €1,000 | 2024 | 2023 | |
|---|---|---|---|
| Balance on 1 January (after prior period error) | 570,665 | 586,455 | |
| From appropriation result book year | 145,395 | -49,614 | |
| To revaluation reserve related to change in value of investments without frequent market listing | -110,606 | -45,944 | |
| From revaluation reserve related to sale of investments without frequent market listing | 14,290 | 81,994 | |
| Establishment of statutory reserve | 2,342 | -2,237 | |
| Other change in value | -1 | 11 | |
| Balance on 31 December | 622,085 | 570,665 |
16 Statement of changes to own equity
Proposal for the appropriation of the 2024 result
It is proposed that the positive result after tax of €145.4 million is added to the other reserves. In anticipation of confirmation by the general meeting, this appropriation is already in the financial statements.
Appropriation of the 2023 result
The 2023 financial statements were adopted in the general meeting of 25 May 2024. The general meeting determined the appropriation of the result in accordance with the proposal.
Statement of changes in equity
| Amounts x €1,000 | 2024 | 2023 | |
|---|---|---|---|
| Balance on 1 January (after prior period error) | 1,007,957 | 1,057,560 | |
| From appropriation result book year | 145,395 | -49,614 | |
| Other changes in value | -1 | 11 | |
| Balance on 31 December | 1,153,351 | 1,007,957 |
17 Assets and obligations not included in the balance sheet
DELA cooperative is part of a Dutch fiscal unity for corporation income tax (VPB) and turnover tax (OB). Every company within the fiscal unity is severally liable for the taxes due.
18. Average number of employees
DELA Cooperative had 1 employee (2023: 1) in 2024, none of which were abroad (2023: none).
Signing
Eindhoven, 7 May 2025
DELA Coöperatie U.A.
The Executive Board
Sandra Schellekens- Lyppens, CEO
Godelieve van Velsen, CFRO
Tom van der Spek, CTO
Geert Deschoolmeester, Group director insurance
The Supervisory Board
John van der Steen, chair
Hans Leenaars RA, vicechair
Frits van Bree RA, secretary
Willemien Caderius van Veen
Georgette Fijneman
Georges de Méris
