Notes to the separate financial statements

General

Accounting policies for the preparation of the company financial statements

The company's company financial statements are prepared in accordance with the legal provisions of Article 9 of Book 2 of the Dutch Civil Code. In the company financial statements, we apply the accounting policies used in the consolidated financial statements. This includes the accounting policies for the presentation of financial instruments as equity or debt. The possibility to apply these principles is provided by Article 2:362(8) of the Dutch Civil Code.

The participating interests are measured at net asset value on the basis of the accounting principles for assets and liabilities as disclosed in the notes to the consolidated financial statements.

The company may use the option to eliminate expected credit losses on the carrying amount of loans and receivables of the company on associates instead of eliminating them on the carrying amount of the participating interests according to the net asset value.

The company financial statements are part of the 2023 financial statements of Alcyone NV.

Accounting policies

The accounting policies for the company financial statements are the same as those for the consolidated financial statements. If no further accounting policies are specified, reference is made to the accounting policies stated in the consolidated financial statements. An overview of the accounting policies is included in the notes to the consolidated financial statements.

The share in the result of participating companies includes the Company's share in the results of these participations. Results on transactions in which transfers of assets and liabilities have taken place between the Company and its subsidiaries and between participating interests have not been recognised to the extent that they can be considered as unrealised.

Fiscal unity

Alcyone NV, together with its subsidiaries Taygeta Holding BV and Taygeta BV, forms a fiscal unity for the levying of corporate income tax and turnover tax. According to the standard terms and conditions, each of the companies is liable for the payment of tax of all companies involved in the fiscal unity.

Shareholdings in subsidiaries

Investments in subsidiaries are valued at net asset value. The same applies to other companies over which the company may exercise dominant control or over which it has central management. The net asset value is determined by valuing the assets, provisions and liabilities and calculating the result according to the accounting policies used in the consolidated financial statements.

Participating interests: treatment of losses

Does the share of losses attributable to the company exceed the carrying amount of the participation, including separately presented goodwill and other unsecured receivables? In that case, the further losses will no longer be recognised, unless the company has provided security for the benefit of the participation. Or if commitments have been entered into or payments have been made on behalf of the participation. In that case, a provision is made by the company for such liabilities.

Associates: treatment of unrealised income

Results on transactions between the company and the participating interests are eliminated in proportion to the company's interest in these participations. This applies insofar as these results have not been achieved through transactions with third parties. Losses are not eliminated if there is an impairment of an asset.

Financial instruments

Reference is made to what has been reported in this regard in the consolidated financial statements. With regard to intercompany receivables and payables, the fair value is equal to the carrying amount, so that no impairment has been recognised in the financial statements.