Download all the 2001 financial statements
Balance sheet
| BALANCE SHEET in million euros |
At 12/31/2001 | At 12/31/2000 | At 12/31/1999 |
|---|---|---|---|
| ASSETS | |||
| Cash in hand, central banks, national giro (note 1) | 3.24 | 0.69 | 0.40 |
| Treasury bills and similar securities | |||
| Loans and advances to credit institutions (note 1) | |||
| . Repayable on demand | 0.06 | 0.06 | 0.13 |
| . Repayable at maturity | 2 536.63 | 1 834.00 | 897.90 |
| Loans and advances to clients | |||
| . Other advances to clients | |||
| Bonds and other fixed-income securities | |||
| Shares and other variable-yield securities | |||
| Intangible assets (note 2) | 0.04 | 0.01 | 0.02 |
| Tangible assets (note 2) | 0.06 | 0.12 | 0.16 |
| Property assets (stock) (note 13a) | 178.33 | 178.33 | 0.00 |
| Other assets (note 3) | 50.56 | 159.58 | 71.27 |
| Accrued income and prepaid expenses (note 4) | 1 621.39 | 1 881.36 | 2 026.36 |
| TOTAL ASSETS |
4 390,31
|
4 054,15 | 2 996,24 |
| LIABILITIES | |||
| Amounts owed to credit institutions (note 5) | |||
| . Payable on demand |
0,00
|
0.00
|
0.00
|
| . Payable at maturity |
2 071,12
|
1 950.94
|
1 950.86
|
| Amounts owed to clients - Other debts | |||
| . Payable on demand | |||
| . Payable at maturity | |||
| Debts evidenced by certificates (note 6) | |||
| . Negotiable debt instruments |
245,39
|
4 742.30
|
3 641.70
|
| . Debenture loans |
30 356,82
|
26 434.64
|
27 342.26
|
| . Other debts evidenced by certificates | |||
| Other liabilities (note 7) |
512,48
|
656.49
|
1 338.58
|
| Accrued expenses and deferred income (note 8) |
428,40
|
662.28
|
435.24
|
| Sub-total liabilities |
33 614,21
|
34 446.65
|
34 708.64
|
| Provisions for contingencies and losses (note 13a) |
0,22
|
0.03
|
0.00
|
| Property endowment |
181,22
|
181.22
|
|
| Retained balance brought forward |
-30 573,75
|
- 31 712.40
|
- 32 787.16
|
| Profit for the year ended |
1 168,41
|
1 138.65
|
1 074.76
|
| Net liability position |
-29 224,12
|
- 30 392.53
|
- 31 712.40
|
| TOTAL LIABILITIES |
4 390,31
|
4 054.15
|
2 996.24
|
Income statement
The significance of CADES' annual financial statements has to be put into perspective. It is important to remember the special purpose for which CADES has been established, namely, to amortise debt over a period of 18 years and one month.
| INCOME STATEMENT in million euros |
At 12/31/2001 | At 12/31/2000 | At 12/31/1999 |
|---|---|---|---|
| NET INCOME FROM BANKING OPERATIONS | -1 559.97 | -1 461.64 | - 1 524.13 |
| Interest receivable and similar income (note 9) |
153,88
|
141.37 | 111.64 |
| . Interest receivable and similar income on transactions with credit institutions |
129,75
|
120.64 | 92.30 |
| . Interest receivable and similar income on transactions with clients | |||
| . Interest receivable and similar income on bonds and other fixed-income securities | |||
| . Other interest receivable and similar income |
24,13
|
20.73 | 19.34 |
| Interest payable and similar charges (note 10) |
-1 786,81
|
- 1 814.65 | - 1 744.30 |
| . Interest payable and equivalent expenses on transactions with credit institutions |
-144,38
|
- 115.87 | - 94.03 |
| . Interest payable and equivalent expenses on transactions with clients | |||
| . Interest payable and equivalent expenses on bonds and other fixed-income securities |
-1 642,43
|
- 1 698.78 | - 1 650.27 |
| . Other interest payable and equivalent expenses | |||
| Commissions payable (note 10) |
-6,98
|
- 7.43 | - 46.22 |
| Net profits on financial transactions (note 11) |
79,96
|
219.83 | 154.78 |
| . Net profit on transactions in trading securities | |||
| . Net profit on transactions in securities held for sale | |||
| . Net profit on foreign exchange transactions |
0,01
|
0.00 | 0.42 |
| . Net profit on transactions in financial instruments |
79,95
|
219.83 | 154.36 |
| Net loss on financial transactions (note 11) |
0,00
|
- 0.87 | 0.00 |
| . Net loss on transactions in trading securities | |||
| . Net loss on transactions in securities held for sale | |||
| . Net loss on foreign exchange transactions |
0,00
|
- 0.87 | 0.00 |
| . Net loss on transactions in financial instruments | |||
| Other income from banking operations |
0,01
|
0.13 | 0.02 |
| Other charges from banking operations |
-0,03
|
- 0.02 | - 0.05 |
| OTHER OPERATING INCOME AND EXPENSES |
2 728,38
|
2 600.29 | 2 598.89 |
| General operating charges (note 13) |
-2,51
|
- 2.00 | - 2.06 |
| . Staff costs |
-0,55
|
- 0.58 | - 0.54 |
| . Other administrative expenses |
-1,96
|
- 1.42 | - 1.52 |
| Depreciation and provisions for depreciation of intangible and tangible assets |
-0,06
|
- 0.07 | - 0.10 |
| Other operating income |
4 644,87
|
4 549.89 | 4 632.03 |
| . CRDS (note 2) |
4 632,72
|
4 534.28 | 4 403.31 |
| . Release of provisions on CRDS receivables (note 12) |
0,10
|
0.00 | 0.00 |
| . Property sales (note 13a) |
12,05
|
15,61
|
228,72
|
| Other operating expenses |
-1 913,92
|
- 1 947.53 | - 2 030.99 |
| . Payment to the govt. (note 14) |
-1 852,26
|
- 1 905.61 | - 1 905.61 |
| . Expense on CRDS revenues (note 14) |
-34,15
|
- 32.81 | - 30.34 |
| . Write-off of CRDS receivables (note 12) |
-2,09
|
0.00 | 0.00 |
| . Allowance established for CRDS receivable (note 12) |
-17,85
|
- 0.02 | - 92.79 |
| . Expense on property sales (note 13a) |
-7,57
|
- 9.09 | - 2.20 |
| . Other |
0,00
|
0.00 | - 0.05 |
| GROSS PROFIT ON ORDINARY ACTIVITIES | 1 168.41 | 1 138.65 | 1 074.76 |
| PROFIT ON ORDINARY ACTIVITIES | 1 168.41 | 1 138.65 | 1 074.76 |
| Exceptional income | |||
| Exceptional charges | |||
| NET PROFIT FOR YEAR ENDED | 1 168.41 | 1 138.65 | 1 074.76 |
Off balance sheet commitments
| OFF BALANCE SHEET COMMITMENTS In millions of euros (Notes 15 to 17) |
At 12/31/2001 | At 12/31/2000 | At 12/31/1999 |
|---|---|---|---|
| COMMITMENTS GIVEN | |||
| Financing commitments | |||
| . Commitments to credit institutions | |||
| . Commitments to clients | |||
| . Annual payment to the govt. (pursuant to art. 4 of Ordinance n°96-50 of January 24, 1996) (note 17) |
12 000.00 | 15 244.90 | 17 150.51 |
| Guarantees | |||
| . Guarantees to credit institutions | |||
| . Guarantees to clients | |||
| Commitments related to securities | |||
| . Securities purchased with sale or repurchase options | |||
| . Other commitments given | |||
| COMMITMENTS RECEIVED | |||
| Financing commitments | |||
| . Commitments from credit institutions (note 17) | 533.57 | 533.57 | 686.02 |
| Guarantees | |||
| . Guarantees from credit institutions | |||
| Commitments related to securities | |||
| . Securities sold with sale or repurchase options | |||
| . Other commitments received | |||
Receipts from CRDS contributions
| NET REVENUES ALLOTTED TO CADES BY THE ORDINANCE n°96-50 of January, 24th 1996 in euros |
At 12/31/2001 | At 12/31/2000 | At 12/31/1999 |
|---|---|---|---|
| NET CRDS REVENUES (article 6) |
4 598 563 747,43
|
4 498 177 361,50
|
4 213 120 966,57
|
| ACOSS CRDS revenues (on wages and salaries) |
3 995 304 994,18
|
3 919 039 754.24 | 3 697 694 979.02 |
| CRDS revenues on assets |
292 707 850,85
|
272 280 766.64 | 241 266 302.95 |
| CRDS revenues on investment income |
209 791 809,32
|
209 744 551.42 | 192 113 978.35 |
| CRDS revenues on sales of jewellery and precious metals |
3 240 049,56
|
3 363 563.74 | 3 295 377.14 |
| CRDS revenues on gambling gains |
97 519 043,52
|
93 748 725.46 | 78 750 329.11 |
| Changes in net claims on ACOSS CRDS |
-19 837 295,46
|
3 281 146.50 | 67 057 478.81 |
| . Current year |
0,00
|
3 297 634.67 | 38 064 837.84 |
| . Previous year |
(2 091 297,61)
|
121 784 709.07 | |
| . Provisions |
(17 845 682,76)
|
(16 488.17) | (92 792 068.10) |
| . Release of provisions |
99 684,91
|
0,00
|
0,00
|
| SALE OF ASSETS PRIOR TO TRANSFER OF PROPERTY (article 9) |
0.00
|
0.00 | 226 523 382.83 |
| TOTAL | 4 578 726 451,97 | 4 501 458 508,00 | 4 506 701 828,21 |