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25 Financial assets

 
 31-dec-1131-dec-10Changes
Financial receivables from associated companies28,14629,313-1,167
Portfolio securities and financial policies4,4707,221 -2,751
Receivables for mortgages to be collected2,9371,098 1,839
Receivables for loans given to others7,3928,452 -1,060
Total42,94546,084-3,139

The item "Financial receivables from associated companies" comprises interest-bearing loans granted to the following companies:

 31-dec-1131-dec-10Changes
Tamarete Energia Srl26,81623,7363,080
Modena network spa900900-
Ghirlandina  Solare250396-146
Enomondo Srl-4,100-4,100
Other minor companies180181-1
Total28,14629,313-1,167

The main changes compared to 31 December 2010 refer to Tamarete Energia Srl, which was granted an additional loan in 2011, and to Enomondo Srl which, following the acquisition of an additional 10% of share capital by the Group, as described in the appropriate section "Change in the scope of consolidation", is valued using the proportional method. The company was valued at equity until 31 December 2010.

"Portfolio securities and financial policies" includes bonds issued by Banca di Credito Cooperativo, amounting to Euro 4,150 thousand, and investment policies with banks, amounting to Euro 320 thousand. The reduction compared to 31 December 2010 is due to the redemption of an investment policy amounting to Euro 2,761 thousand.

"Receivables for loans given to others". Of note we report:

  • the closure of a credit position in respect of customers amounting to Euro 7,696 thousand;
  • the disbursement of an interest-bearing loan for a nominal Euro 4,000 from Asa Scpa to a minority shareholder;
  • the interest-bearing loan granted to the jointly controlled company Enomondo Srl, amounting to Euro 2,050, which represents the residual portion of the assets recorded in the separate financial statements of Parent Company Herambiente Spa. The loan as at 31 December 2010 was stated for its full amount, equal to Euro 4,100 thousand, in consideration of the valuation of said company at equity.
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