ING Direct 2004 Annual Report Download - page 79
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NOTES TO THE CONSOLIDATED BALANCE SHEET
OF ING GROUP
amounts in millions of euros, unless otherwise stated
2.1
ANNUAL ACCOUNTS
ING Group Annual Report 2004 77
ASSETS
1 TANGIBLE FIXED ASSETS
TANGIBLE FIXED ASSETS
2004 2003
Data-processing equipment 325 375
Other movable fixed assets 927 936
1,252 1,311
Opening balance 1,311 1,415
Additions 423 523
Changes in the composition of the group -8 -16
Disposals -58 -79
Depreciation -407 -459
Exchange differences -9 -73
Closing balance 1,252 1,311
Gross carrying amount as at 31 December 3,280 3,798
Accumulated depreciation as at 31 December 2,028 2,487
1,252 1,311
2 PARTICIPATING INTERESTS
PARTICIPATING INTERESTS
Ownership Balance Estimated Ownership Balance Estimated
Name of investee % sheet value fair value % sheet value fair value
2004 2003
Investments in associates:
Vesteda 25 724 724 25 719 719
Property Fund Iberica 30 134 134 30 115 115
Lion Property Fund 12 116 116 27 134 134
Lion Industrial Trust 16 102 102
Q-Park N.V. 19 97 97 21 84 84
Lionbrook Property Partnership 26 79 79
ING UK Property Income Limited Partnership 45 63 63
ING logistic Property C.V. 25 60 60 50 72 72
ING Retail Property Fund Australia 30 56 56 30 85 85
Postkantoren B.V. 50 49 49 50 47 47
De Goudse Verzekeringen N.V. 20 40 40 20 37 37
N.V. Levensverzekeringsmaatschappij De Hoop 33 19 19 33 19 19
Airport Real Estate Fonds C.V. 18 17 17
Other investments in associates(1) 924 924 439 439
2,480 2,480 1,751 1,751
Investments in other participating interests 723 723 1,246 1,246
Total investments in participating interests 3,203 3,203 2,997 2,997
Receivables from participating interests 101 101 170 170
3,304 3,304 3,167 3,167
(1) Among which NRG and SulAmérica.
The balance sheet value of Participating interests as at 31 December 2004 included revaluations of EUR 235 million
(2003: EUR 268 million). The cost of these Participating interests amounted to EUR 3,529 million (2003: EUR 3,411 million).