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Download all the 2007 financial statements

Balance sheet

BALANCE SHEET
in millions of euros
At 31/12/2007At 31/12/2006At 31/12/2005
       
ASSETS      
Cash in hand, central banks, national giro (note 1) 10.85   0.19
Government paper and similar securities (note 1) 1 370.17    
Loans and advances to credit institutions (note 1)      
. repayable on demand 0.28 0.49 112.68
. repayable at maturity 333.46   958.39
Intangible assets (note 2) 0.00 0.00 0.00
Tangible assets (note 2) 0.02 0.03 0.05
Real-estate assets (note 13bis)      
Other assets (note 3) 654.44 273.24 56.42
Accrued income and prepaid expenses (note 4) 1 340.34 1 369.14 1 950.44
       
TOTAL ASSETS 3 709.56 1 642.90 3 078.17
       
LIABILITIES      
       
Amounts owed to credit institutions (note 5)      
. repayable on demand      
. repayable at maturity 2 111.68 2 225.74 3 618.14
Debts evidenced by certificates (note 6)      
. Negotiable debt securities 3 480.48 3 060.18 9 418 .94
. Bonds and related securities 68 611.11 70 592.18 61 863.79
. Other debts evidenced by certificates      
Other liabilities (note 7) 19.69 18.37 371.93
Accrued expenses and deferred income (note 8) 2 441.94 1 344 .48 518.52
Sub-total liabilities 76 664.90 77 240.95 75 791.32
       
Provisions for contingencies and losses (note 8) 0.11 0.08 0.10
       
Property endowment 181.22 181.22 181.22
Retained balance brought forward -75 714.63 -78 594.46 -72 527.62
Balance for the year ended 2 577.96 2 815.11 -366.85
Net liability position
-72 955.45 -75 598.13 -72 713.25
       
TOTAL LIABILITIES 3 709.56 1 642.90 3 078.17

 

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.

 

BALANCE SHEET
in millions of euros
At 31/12/2007At 31/12/2006At 31/12/2005
       
ASSETS      
Cash in hand, central banks, national giro (note 1) 10.85   0.19
Government paper and similar securities (note 1) 1 370.17    
Loans and advances to credit institutions (note 1)      
. repayable on demand 0.28 0.49 112.68
. repayable at maturity 333.46   958.39
Intangible assets (note 2) 0.00 0.00 0.00
Tangible assets (note 2) 0.02 0.03 0.05
Real-estate assets (note 13bis)      
Other assets (note 3) 654.44 273.24 56.42
Accrued income and prepaid expenses (note 4) 1 340.34 1 369.14 1 950.44
       
TOTAL ASSETS 3 709.56 1 642.90 3 078.17
       
LIABILITIES      
       
Amounts owed to credit institutions (note 5)      
. repayable on demand      
. repayable at maturity 2 111.68 2 225.74 3 618.14
Debts evidenced by certificates (note 6)      
. Negotiable debt securities 3 480.48 3 060.18 9 418 .94
. Bonds and related securities 68 611.11 70 592.18 61 863.79
. Other debts evidenced by certificates      
Other liabilities (note 7) 19.69 18.37 371.93
Accrued expenses and deferred income (note 8) 2 441.94 1 344 .48 518.52
Sub-total liabilities 76 664.90 77 240.95 75 791.32
       
Provisions for contingencies and losses (note 8) 0.11 0.08 0.10
       
Property endowment 181.22 181.22 181.22
Retained balance brought forward -75 714.63 -78 594.46 -72 527.62
Balance for the year ended 2 577.96 2 815.11 -366.85
Net liability position
-72 955.45 -75 598.13 -72 713.25
       
TOTAL LIABILITIES 3 709.56 1 642.90 3 078.17

 

Off balance sheet commitments

OFF BALANCE SHEET ITEMS
in millions of euros (Notes 15 to 17)
At 31/12/2007At 31/12/2006At 31/12/2005
COMMITMENTS GRANTED      
Financing commitments      
. Annual payment to the government (pursuant to Article 4, IV of Ordinance No. 96-50 of January 24, 1996) 0.00 0.00 0.00
. Payments to various social security funding organizations (pursuant to Article 4, V and VI of Ordinance No. 96-50 of January 24, 1996)
0.00
2 690.00 8 390.00
COMMITMENTS RECEIVED      
Financing commitments      
. Commitments from credit institutions (note 18) 7 550.00 7 438.66 11 050.00