( x EUR 1,000 )

2008

2007

Expenses payable in respect of transmission

and system services

Accounts payable

Auction receipts yet to be credited to TSOs

Taxation and social security contributions

Payable to Ministry of Finance (EnerQ B.V.)

Interest

Other

Total

Refer to sec-tion

Carrying amount

Items other than financial assets/liabilities

Categories of financial instruments

Fair value

Financial assets/liabilities recognised at fair value with changes in value recorded in P&L account

Loans and receivables / Other financial liabilities

Investments held until maturity

Financial assets available for sale

Derivatives held for hedge accounting purposes

Designated upon initial recognition

Held for trading

Financial assets

Financial assets not at free disposal

(4)

110,500

-

-

-

-

110,500

-

-

110,500

Minority participating interests

(4)

1,985

-

1,985

-

-

-

-

-

1,985

Total financial assets

112,485

 -

 1,985

 -

 -

 110,500

 -

 -

112,485

Receivables

Accounts receivable and other receivables

(8)

194,792

11,704

-

-

183,088

-

-

-

194,792

Accounts receivable in connection with energy exchange transactions

(9)

223,338

-

-

-

223,338

-

 -

-

223,338

Derivative financial instruments

(10)

1,101

-

-

-

-

1,101

-

-

 1,101

 419,231

 11,704

 -

 -

 406,426

 1,101

 -

 -

 419,231

Cash and cash equivalents

Securities

(11)

532,665

-

-

-

532,665

-

-

-

532,665

Deposits

(11)

99,850

-

-

-

-

99,850

-

-

99,850

Bank account balances

(11)

117,733

-

-

-

117,733

-

-

-

117,733

 750,248

 -

 -

 -

 650,398

 99,850

 -

 -

750,248

TOTAL FINANCIAL ASSETS

1,281,964

11,704

1,985

-

1,056,824

211,451

-

-

1,281,964

FINANCIAL LIABILITIES

Long-term liabilities

Loans

(14)

220,000

-

-

-

220,000

-

-

-

221,500

Derivative financial instruments

(18)

-

-

-

-

-

-

-

-

-

 220,000

-

 -

 -

 220,000

 -

  -

 -

221,500

Short-term liabilities

Loans

(14)

210,000

-

-

-

210,000

-

-

-

210,000

Bank overdrafts

(21)

100,629

-

-

-

100,629

-

-

-

100,629

Accounts payable in connection with energy exchange transactions

(22)

222,980

-

-

-

222,980

-

-

-

222,980

Liabilities relating to
collateral securities

(23)

532,665

-

-

-

532,665

-

-

-

532,665

Accounts payable and other liabilities

(24)

159,940

-

-

-

159,940

 -

-

-

159,940

Derivative financial instruments

(18)

8,927

-

-

-

-

8,927

-

-

8,927

 1,235,141

-

 -

 -

 1,226,214

 8,927

 -

 -

 1,235,141

TOTAL FINANCIAL LIABILITIES

1,455,141

-

-

-

1,446,214

8,927

-

-

1,456,641

Refer to

sec-tion

Carrying amount

Items

other than financial assets/

liabilities

Categories of financial instruments

Fair value

Financial assets/liabilities recognised at fair value with changes in value recorded in P&L account

Loans and receivables / Other financial liabilities

Investments held until maturity

Financial assets available for sale

Derivatives held for hedge accounting purposes

Designated upon initial recognition

Held for trading

Financial assets

Financial assets not at free disposal

(4)

44,000

-

-

-

44,000

-

-

44,000

Minority participating interests

(4)

14,221

-

14,221

-

-

-

-

-

14,221

Total financial assets

 58,221

-

14,221

 -

-

 44,000

-

-

58,221

Receivables

Accounts receivable and other receivables

(8)

123,564

7,701

-

-

115,863

-

-

-

123,564

Accounts receivable in connection with energy exchange transactions

(9)

144,196

-

-

-

144,196

-

-

-

144,196

Derivative financial instruments

(10)

1,375

-

-

-

-

1,375

-

-

1,375

Total receivables

 269,135

 7,701

 -

 -

 260,059

 1,375

 -

 -

 269,135

Cash and cash equivalents

Securities

(11)

551,468

-

-

-

551,468

-

-

-

551,468

Deposits

(11)

375,700

-

-

-

375,700

-

-

-

375,700

Bank account balances

(11)

309,641

-

-

-

309,641

-

-

-

309,641

Total cash and cash equivalents

 1,236,809

 -

 -

 -

 1,236,809

 -

 -

 -

 1,236,809

TOTAL FINANCIAL ASSETS

1,564,165

7,701

14,221

-

1,496,868

45,375

-

-

1,564,165

FINANCIAL LIABILITIES

Long-term liabilities

Loans

(14)

280,420

-

-

-

280,420

-

-

-

282,520

Derivative financial instruments

(18)

1,747

-

-

-

-

1,747

-

-

1,747

Total long-term liabilities

282,167

 -

 -

 -

 280,420

 1,747

 -

 -

 284,267

Short-term liabilities

Loans

(14)

50,000

-

-

-

50,000

-

-

-

50,000

Bank overdrafts

(21)

266,677

-

-

-

266,677

-

-

-

266,677

Accounts payable in connection with energy exchange transactions

(22)

144,208

-

-

-

144,208

-

-

-

144,208

Liabilities relating to collateral securities

(23)

551,468

-

-

-

551,468

-

-

-

551,468

Accounts payable and other liabilities

(24)

131,280

-

-

-

131,280

-

-

-

131,280

Derivative financial instruments

(18)

190

-

-

-

-

190

-

-

190

Total short-term liabilities

 1,143,823

 -

 -

 -

 1,143,633

 190

 -

 -

 1,143,823

TOTAL FINANCIAL LIABILITIES

1,425,990

-

-

-

1,424,053

1,937

-

-

1,428,090