Consolidated Balance Sheet

Assets

Total assets amounted to 867 million euro in 2014 compared to 649 million euro in 2013. As a regulated investment firm, Petercam applies the segregation principle at any time and re-deposits the clients’ assets in cash and securities on segregated accounts with selected third-party financial institutions. This explains the large amount of Cash and Cash Equivalents in the assets of the balance sheet. In return, Trade Payables in the balance sheet reflect the clients’ cash in Petercam’s custody.

Assets (in K euro) 2014 2013
Trade receivables 88,148 55,005
Current tax and other receivables 7,270 8,914
Financial assets held for trading purposes 12,755 7,157
Available-for-sale investments 42,915 15,636
Cash and cash equivalents 684,503 536,576
Other current assets 12,745 5,243
Current assets 848,336 628,530
Non-current assets 18,202 20,598
Total assets 866,539 649,128

Liabilities & equities

On 31 December 2014, shareholders’ equity grew to 157 million euro from 155 million euro, largely exceeding capital requirements. The solvency, as measured by the Cooke ratio* of 25% confirms an extremely healthy financial position.

(*) The Cooke ratio determines that equity must be at least 8% of total assets, weighted according to their risk.

2014 2013
Capital & share premium 2,500 2,500
Other reserves <1,529> <672>
Retained earnings 156,164 153,094
Liabilities 157,135 154,922 
Provisions 22,998 13,699
Deferred tax liabilities 539 590
Non-current liabilities 23,537 14,289  
Financial liabilities 17,777 27,075
Trade payables 610,299 411,485
Current tax and other payables 29,871 31,127
Financial liabilities held for trading 22,807 4,148
Other current liabilities 5,113 6,082
Current liabilities 685,867 479,917
Total equity & liabilities 866,539 649,128

Consolidated Income Statement

The major portion of revenues of Petercam are originating from asset-based fees charged for portfolio management and custody for private and institutional clients; these are found under the heading ‘Fees and similar revenues’. In 2014, these recorded a 5% increase reflecting both inflows of new capital and positive market effects.

Transaction-based fees generated from private banking, brokerage and corporate finance activities are reported in ‘Brokerage & Commissions’.



2014 2013
Brokerage & commissions 29,287 30,689
Fees and similar revenue 116,229 110,171
Revenue 145,626   140,860 
Other income 9,266 4,059
Net trading income 7,000 5,529
Other income 16,266   9,588
Transaction costs <26,442> <23,561>
Employee benefits expense <64,093> <63,119>
Depreciation and amortization expense <981> <1,106>
Other operating expenses <38,537> <39,169>
Operating charges <130,053> <126,955>
Operating profit (loss)  31,839 23,493
Financial income 2,790 3,086
Finance cost <448> <607>
Profit (loss) before tax  34,181   25,973 
Income tax expense <9,299> <4,413>
Profit (loss) for the year 24,882 21,560

 

Consolidation Scope

The consolidated financial statements include the financial statements of the Petercam and the entities controlled by the Petercam. All subsidiaries are controlled for 100% by Petercam and are integrated using the method of global consolidation.

  • PETERCAM SERVICES S.A.

    Place Sainte-Gudule 19
    1000 Brussels
    BELGIUM

    BE 446.270.373

  • PETERCAM INSTITUTIONAL BONDS S.A.

    Place Sainte-Gudule 19
    1000 Brussels
    BELGIUM

    BE 454.798.455

  • PETERCAM INSTITUTIONAL ASSET MANAGEMENT S.A.

    Place Sainte-Gudule 19
    1000 Brussels
    BELGIUM

    BE 886.223.276

  • PETERCAM Luxembourg S.A.

    Rue Pierre d’Aspelt 1a
    L-1142 Luxemburg
    LUXEMBURG

  • 3P (L) S.A.R.L.

    Rue Pierre d’Aspelt 1a
    L-1142 Luxemburg
    LUXEMBURG

  • Petercam Banque Privée (Suisse) S.A.

    CENTRE SWISSAIR COINTRIN
    Route de l’Aéroport 31
    1218 Le Grand-Saconnex
    SWITZERLAND

  • Petercam Participations S.A.

    CENTRE SWISSAIR COINTRIN
    Route de l’Aéroport 31
    1218 Le Grand-Saconnex
    SWITZERLAND

  • PETERCAM CAPITAL (UK) Ltd

    Fairfax House
    15 Fulwood Place, London WC1V6AY
    UNITED KINGDOM

  • PETERCAM MANAGEMENT IRELAND Ltd

    1st Floor Fitzwilton House, Wilton Place
    Dublin 2
    IRELAND