Notes to the Balance Sheet

9. INTANGIBLE ASSETS

EUR Thousand

20122011
Development costs  
Acquisition cost 1.1.10,4379,942
Additions2,283494
Disposals-210
Reclassifications7,7370
Acquisition cost 31.12.20,43510,437
  
Accumulated amortization 1.1.-7,418-5,797
Cumulative amortization on disposals210
Amortization for the financial period-2,306-1,620
Accumulated amortization 31.12.-9,702-7,418
  
Book value 31.12.10,7333,019
  
Immaterial rights  
Acquisition cost 1.1.2,7882,618
Additions3,699282
Disposals-10-112
Reclassifications3550
Acquisition cost 31.12.6,8312,788
  
Accumulated amortization 1.1.-2,393-2,225
Accumulated amortization on decreases1072
Amortization for the financial period-661-241
Accumulated amortization 31.12.-3,044-2,393
  
Book value 31.12.3,787394

 

EUR Thousand

20122011
Goodwill/merger loss  
Acquisition cost 1.1.17,62517,625
Acquisition cost 31.12.17,62517,625
  
Accumulated amortization 1.1.-9,590-7,748
Amortization for the financial period-1,843-1,843
Accumulated amortization 31.12.-11,433-9,590
  
Book value 31.12.6,1928,035
  
Other long-term expenditure  
Acquisition cost 1.1.481201
Additions28280
Acquisition cost 31.12.509481
  
Accumulated amortization 1.1.-184-103
Amortization for the financial period-63-81
Accumulated amortization 31.12.-247-184
  
Book value 31.12.262297
  
Other assets under construction  
Acquisition cost 1.1106107
Additions384410
Reclassifications-355-411
Acquisition cost 31.12135106
  
Book value 31.12.135106
  
Unfinished product development projects  
Acquisition cost 1.1.7,7373,914
Additions2,9694,067
Reclassifications-7,737-244
Acquisition cost 31.12.2,9697,737
  
Book value 31.12.2,9697,737
  
Intangible assets total24,07819,587


10. TANGIBLE ASSETS

EUR Thousand

20122011
Machinery and equipment  
Acquisition cost 1.1.4,8634,286
Additions667582
Disposals-4-5
Acquisition cost 31.12.5,5264,863
  
Accumulated depreciation 1.1.-4,027-3,624
Accumulated depreciation on disposals45
Amortization for the period-536-408
Accumulated depreciation 31.12.-4,559-4,027
  
Book value 31.12.967836
  
Other tangible assets  
Acquisition cost 1.1.9286
Increase77
Acquisition cost 31.12.9992
  
Book value 31.12.9992
  
Tangible assets total1,066929
  
Total fixed assets25,14420,516

 

11. INVESTMENTS

EUR Thousand

20122011
Shares in group companies  
Acquisition cost 1.1.17,04017,040
Increase9,2750
Acquisition cost 31.12.26,31517,040
  
Book value 31.1226,31517,040
  
Other shares  
Acquisition cost 1.1.3838
Acquisition cost 31.12.3838
  
Receivables from group companies  
Loan receivables from group companies52,02233,256
  
Investments total78,37550,334


Shares in subsidiaries

DomicileCountryParent company holding,
%
Basware International OyEspooSuomi100
Basware GmbHDüsseldorfSaksa100
Basware UK Ltd.StaffordshireIso-Britannia100
Basware ABTukholmaRuotsi100
Basware B.V.AmsterdamAlankomaat100
Basware A/SHerlevTanska100
Basware, Inc.DelawareYhdysvallat100
Basware SASPariisiRanska100
Basware ASOsloNorja100
Basware Pty LtdChatswoodAustralia100
Basware India Private LimitedChandigarhIntia99
Basware Belgium NVAalstBelgia99

 

12. INVENTORIES

EUR Thousand

20122011
Raw materials and consumables1841
Total1841


13. NON-CURRENT RECEIVABLES

EUR Thousand

20122011
Rent deposits4350
Non-current receivables total4350

 

14. CURRENT RECEIVABLES

EUR Thousand

20122011
Accounts receivables6,3045,949
  
Receivables from group companies  
Accounts receivables3,936818
Interest receivables1,4061,265
Total5,3422,083
  
Prepaid expenses and accrued income1,601753
Other receivables1,226338
  
Current receivables total14,4739,123

The largest items in accrued income are estimated Kela occupational health care reimbursement, accrued income tax, accrued pension, and income and expense accruals.

15. SHAREHOLDERS' EQUITY

EUR Thousand

20122011
Share capital 1.1.3,5283,507
Increase for the financial period021
Share capital 31.12.3,5283,528
  
Issue of shares 1.1.0255
Increase for the financial period027,729
Decrease for the financial period0-27,984
Issue of shares 31.12.00
  
Share premium account 1.1.1,1181,118
Share premium account 31.12.1,1181,118
  
Restricted equity 31.12.4,6474,647
  
Invested non-restricted equity 1.1.62,36034,263
Issue of shares027,729
Warrants used0568
Transfers between items-177-200
Invested non-restricted equity 31.12.62,18362,360
  
Retained earnings 1.1.33,55834,228
Dividend payment-5,278-5,120
Acquisition of treasury shares-9630
Transfer between items177200
Profit for the period4,1814,250
Retained earnings 31.12.31,67433,558
  
Non-restricted equity 31.12.93,85795,917
  
Shareholders' equity 31.12.98,504100,564
  
Specification of distributable funds  
Profit for the period4,1814,250
Retained earnings27,49429,308
Other distributable funds62,18362,360
Distributable funds93,85795,917

 

16. Provisions

EUR Thousand

20122011
Other provisions  
Restructuring provision0850

The financial statements for 2011 included a provision of EUR 850 thousand. The provision was utilized in full during 2012.

17. NON-CURRENT LIABILITIES

EUR Thousand

20122011
Loans from financial institutions8,3330
Debts to group companies177177
Non-current liabilities total8,510177


18. CURRENT LIABILITIES

EUR Thousand

20122011
Accounts payable1,243890
  
Liabilities to group companies  
Accounts payable391559
Other debts6,54978
Accrued expenses and deferred income10
Total6,941637
  
Loans from financial institutions1,6670
Other debts2,4962,485
Accrued expenses and deferred income5,2496,561
Total9,4129,046
Current liabilities total17,59510,573

The most significant items in the accrued liabilities are the holiday accrual EUR 4 286 thousand and commissions EUR 375 thousand. 

19. COMMITMENTS AND CONTINGENT LIABILITIES

EUR Thousand

20122011
Own guarantees  
Business mortgages of own debt1,2001,200
  
Commitments on behalf of subsidiaries  
Guarantees2441,290
  
Other own contingent liabilities  
Leasing liabilities  
Current lease liabilities177247
Lease liabilities maturing in 1-5 years98257
Total275504
  
Rental liabilities  
Current rental liabilities2,9583,179
Rental liabilities maturing in 1-5 years3,1565,723
Total6,1148,902
  
Commitments and contingent liabilities total7,83311,897

The lease agreements are ordinary lease agreements. The finance lease agreements are ordinary finance lease agreements and have no associated leaseback clauses. The group does not have pledges, mortgages or guarantees on behalf of external parties.