We raised our total assets from €599.3 million to €643.9 million. The rise in current assets contributed greatly to this increase. Non-current assets decreased, however.

Current assets increased by €63.4 million to €373.1 million as of the end of the year, up from €309.7 million in 2005.

Our non-current assets amounted to €270.8 million at the end of the year, €18.8 million below the previous year’s level. All non-current asset accounts contributed equally to this result with moderate decreases. Our intangible assets, property, plant and equipment, financial investments and non-current trade receivables are all lower. Deferred taxes were considerably diminished, from €35.1 million to €22.0 million.

Off-balance sheet assets and financing instruments

In addition to the assets reported in the consolidated balance sheet, Software AG also has off-balance sheet assets. These relate primarily to office space, company cars, and hardware. Relevant details can be found in the Notes.

Off-balance sheet assets also include the Software AG brand name, which is one of the Group’s most significant intangible assets. The brand image was developed in the year under review.

For additional information, please refer to the Notes.