Consolidated Balance Sheet | Annual Report 2019

Financial statements

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in thousands of EUR	Notes	31 December 2019	31 December 2018
ASSETS
Property, plant and equipment	11	532,690	516,782
Right-of-use assets	12	1,442,954	-
Goodwill	13	1,146,028	1,052,282
Other intangible assets	14	415,121	563,267
Deferred income tax assets	10	61,822	46,706
Investments in Associates and Joint Ventures		1,012	1,091
Non-current receivables	16	83,544	38,656
Other non-current assets	17	-	10,451
Non-current assets		3,683,171	2,229,235

Inventories	15	356,259	330,502
Trade and other receivables	16	275,618	253,933
Other current assets	17	32,605	49,800
Current income tax receivables	10	31,759	8,944
Derivatives	24	1,581	3,459
Cash and cash equivalents	18	162,899	138,257
Current assets		860,721	784,895
Total assets		4,543,892	3,014,130

EQUITY AND LIABILITIES
Share capital	19	5,089	5,089
Share premium	19	72,580	69,455
Treasury shares	19	- 16,235	- 14,068
Other reserves	20	- 167,622	- 157,048
Retained earnings	21	1,283,340	1,259,026
Equity attributable to equity holders		1,177,152	1,162,454
Non-controlling interests	22	87,109	90,011
Total equity		1,264,261	1,252,465

Borrowings	23	385,817	362,492
Lease liabilities	12	1,037,293	461
Deferred income tax liabilities	10	42,969	71,547
Post-employment benefits	25	136,112	96,199
Provisions	27	18,193	17,003
Derivatives	24	7,935	2,605
Other non-current liabilities	28	21,637	6,294
Contract liabilities	6	8,641	7,776
Non-current liabilities		1,658,597	564,377

Borrowings	23	517,330	514,851
Lease liabilities	12	373,278	411
Current income tax liabilities	10	40,705	40,389
Provisions	27	24,034	16,841
Derivatives	24	6,106	4,144
Trade and other payables	29	569,628	542,978
Contract liabilities	6	89,953	77,674
Current liabilities		1,621,034	1,197,288
Total liabilities		3,279,631	1,761,665
Total equity and liabilities		4,543,892	3,014,130

GrandVision has applied IFRS 16 at 1 January 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of applying IFRS 16 is recognized in retained earnings. The accompanying notes are an integral part of these consolidated financial statements.