Accounting policies applied for the financial statements

General

These company financial statements and the consolidated financial statements together form the statutory financial statements of NV Nederlandse Spoorwegen (hereinafter: 'the company'). The financial information of the company is included in the Group’s consolidated financial statements.

In determining the accounting policies for the valuation of assets and liabilities and determining the result for the company financial statements, NV Nederlandse Spoorwegen makes use of the option provided by Section 362(8) of Book 2 of the Dutch Civil Code. This means that the accounting policies for the valuation of assets and liabilities and determination of the result (hereinafter the ‘accounting policies') for the company financial statements of NV Nederlandse Spoorwegen are the same as the accounting policies used for the consolidated financial statements. Participating interests in which significant influence is exercised are valued using the equity method. The policies are in accordance with IFRS, insofar as they are endorsed by the EU, and are applied consistently to all information that is presented. 

In accordance with Section 402(1) of Book 2 of the Dutch Civil Code, the company financial statements of NV Nederlandse Spoorwegen only include an income statement in abbreviated form.

Participating interests in group companies

Participating interests controlled by NV Nederlandse Spoorwegen are stated at net asset value. The net asset value is determined by valuing the assets, provisions, liabilities and results according to the accounting policies used in the preparation of the consolidated financial statements. If the share of losses attributable to NV Nederlandse Spoorwegen exceeds the carrying amount of the participation, losses in excess of that amount are not recognised unless guarantees have been provided by NV Nederlandse Spoorwegen for this purpose. In that case, provision is made for the resulting liabilities.

Result of group companies

The result of group companies consists of the result after income tax.