Belgium

Établissements Delhaize Frères et Cie “Le Lion” SA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-10-13 16:04
Établissements Delhaize Frères et Cie “Le Lion” SA Annual Report 2010
CR Monitor Issue: 
2011/1005
Company covered: 
Établissements Delhaize Frères et Cie “Le Lion” SA
Period End: 
31 December 2010
Report issued on 14 October 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Restatement
Change of policy on buy-outs of non-controlling interests following change to IFRS rules leads to restatement of statement of cash flows.
Change
Additional disclosure on revenue in segmental disclosures.
Change
Pre-tax discount rate disclosed for impairment testing of goodwill.
Change
Gain recognised following move to defined contribution scheme by some employees.
Change
Exchange of debt instruments treated as debt modification.

Belgacom SA Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-08-10 09:07
Belgacom SA Annual Report 2010
CR Monitor Issue: 
2011/0807
Company covered: 
Belgacom SA
Period End: 
31 December 2010
Report issued on 11 August 2011 covered the following practice issues:
Change
Gain recognised as shareholders' agreement determines timing of full consolidation of former joint venture.
Change
Five year pension history highlights previous non-compliance with IFRS.
Restatement
Stock options included in remuneration of key management personnel.
Restatement
Investments moved to Level 1 of fair value hierarchy.
Restatement
Categorisation of cash and cash equivalents changed.

Groupe Bruxelles Lambert SA Period End 31 December 2010

Submitted by YWang on Tue, 2011-08-02 12:53
Groupe Bruxelles Lambert SA Annual Report 2010
CR Monitor Issue: 
2011/0803
Company covered: 
Groupe Bruxelles Lambert SA
Period End: 
31 December 2010
Report issued on 02 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Business combination gives rise to €33.3 million goodwill.
Change
Accounting policies note expanded to include information about associates.

Etablissementen Franz Colruyt NV Period End 31 March 2009

Submitted by Company Reporting on Wed, 2009-09-16 23:00
Etablissementen Franz Colruyt NV Annual Report 2009

Information on controlling parties highlights prior year non-compliance with IFRS

Belgian food retailer Colruyt discloses in its audited accounts that parties who act in concert, including the Colruyt family and taking account of treasury shares, together control 57% of its share capital, highlighting prior year non-compliance with IFRS.

Fortis NV Period End 31 December 2008

Submitted by Company Reporting on Wed, 2009-06-10 23:00
Fortis Annual Report 2008

Counting house rendered unable to count its own costs
Belgian insurer Fortis recognises an overall €27.4 billion loss on discontinued banking and insurance operations leading to a loss for the year but, contrary to IFRS, does not analyse this into result prior to disposal and gain or loss on disposal and gives the wrong valuation date for assets and liabilities disposed of.

Agfa-Gevaert NV Period End 31 December 2008

Submitted by Company Reporting on Sun, 2009-05-31 23:00
Agfa-Gevaert Annual Report 2008

Explanation of impairment falls short of IFRS
Belgian imaging equipment maker Agfa-Gevaert recognises €119 million impairment of goodwill and intangible assets, leading to a loss for the year, but does not enlarge on the events or circumstances that have led to the impairment.