Comparative Balance Sheet



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MERKEZ SİGORTA A.Ş.
COMPARATIVE BALANCE SHEET ANALYSIS
(Currency in US Dollars)
                                     
ASSETS   1995   1996 DIFFERENCE   1997 DIFFERENCE   1998 DIFFERENCE   1999 DIFFERENCE
          Amount %     Amount %     Amount %     Amount %
A. CURRENT ASSETS                                    
                                     
I. LIQUID ASSETS   1.308.470   3.225.155 1.916.685 146,48   2.911.361 (313.793) (9,73)   56.558 (2.854.803) (98,06)   38.279 (18.279) (32,32)
    A. Liquid Assets   101.770   45.588 (56.182) (55,21)   15.660 (29.928) (65,65)   10.141 (5.519) (35,24)   19.004 8.863 87,40
    B. Banks   1.206.700   3.179.567 1.972.867 163,49   2.895.701 (283.866) (8,93)   46.417 (2.849.284) (98,40)   19.275 (27.142) (58,47)
II.MARKETABLE SECURITIES   4.538.408   4.911.695 373.286 8,23   5.142.805 231.110 4,71   7.999.003 2.856.198 55,54   9.178.951 1.179.948 14,75
    A. Marketable Securities   4.538.408   4.911.695 373.286 8,23   5.142.805 231.110 4,71   8.133.041 2.990.236 58,14   9.178.951 1.045.910 12,86
    B. Provision for Marketable Securities' Loss (-)                       (134.038) (134.038)       134.038 (100,00)
III. RECEIVABLES   6.786.817   2.390.551 (4.396.266) (64,78)   2.692.070 301.519 12,61   2.516.239 (175.831) (6,53)   2.234.505 (281.735) (11,20)
    A. Insured Clients   902.645   431.420 (471.224) (52,20)   567.066 135.646 31,44   588.177 21.111 3,72   510.106 (78.071) (13,27)
        a. Insured Clients   902.645   431.420 (471.224) (52,20)   567.066 135.646 31,44   588.177 21.111 3,72   510.106 (78.071) (13,27)
        b. Provision for the Premium Receivables (-)                                    
    B. Agencies   6.108.023   1.860.193 (4.247.830) (69,55)   1.838.115 (22.078) (1,19)   1.785.989 (52.125) (2,84)   1.564.315 (221.674) (12,41)
        a. Agencies   6.470.151   2.501.476 (3.968.675) (61,34)   1.983.661 (517.815) (20,70)   1.836.822 (146.838) (7,40)   1.625.723 (211.100) (11,49)
        b. Provision for the Premium Receivables (-)   (362.128)   (641.283) (279.155) 77,09   (145.546) 495.737 (77,30)   (50.833) 94.713 (65,07)   (61.408) (10.575) 20,80
    C. Insurance and Reinsurance Companies   20.875   15.919 (4.956) (23,74)   (4.636) (20.555) (129,12)   27.156 31.792 (685,76)   23.041 (4.115) (15,15)
    D. Reserves at Cedant and Retrocedant Companies   5.658   16.393 10.736 189,75   23.916 7.523 45,89   30.748 6.831 28,56   28.570 (2.177) (7,08)
    E. Other Receivables   (250.383)   66.626 317.009 (126,61)   267.610 200.983 301,66   84.170 (183.439) (68,55)   108.473 24.303 28,87
    F. Doubtful Receivables       911.694 911.694     475.001 (436.693) (47,90)   252.483 (222.519) (46,85)   139.328 (113.154) (44,82)
    G. Provision for Doubtful Receivables (-)       (911.694) (911.694)     (475.001) 436.693 (47,90)   (252.483) 222.519 (46,85)   (139.328) 113.154 (44,82)
TOTAL CURRENT ASSETS   12.633.695   10.527.401 (2.106.295) (16,67)   10.746.236 218.836 2,08   10.571.800 (174.436) (1,62)   11.451.735 879.935 8,32
B. LONG TERM ASSETS                                    
IV.PARTICIPATIONS                                    
    A. Participations                                    
    B. Provision for Participation Value Loss (-)                                    
V.FIXED ASSETS   727.131   685.876 (41.255) (5,67)   462.624 (223.252) (32,55)   390.935 (71.689) (15,50)   310.578 (80.357) (20,56)
    A. Movable Assets   444.379   364.996 (79.384) (17,86)   253.750 (111.245) (30,48)   172.518 (81.233) (32,01)   117.217 (55.301) (32,06)
        a. Movable Assets   918.347   925.660 7.313 ,80   768.041 (157.619) (17,03)   754.386 (13.655) (1,78)   623.932 (130.453) (17,29)
        b. Accumulated Deprecations (-)   (473.968)   (560.664) (86.697) 18,29   (514.291) 46.374 (8,27)   (581.868) (67.578) 13,14   (506.716) 75.153 (12,92)
    B. Immovable Assets   118.124   235.080 116.956 99,01   176.345 (58.735) (24,99)   205.051 28.707 16,28   189.270 (15.781) (7,70)
        a. Immovable Assets   122.845   245.261 122.416 99,65   183.919 (61.341) (25,01)   214.105 30.186 16,41   197.714 (16.392) (7,66)
        b. Accumulated Deprecations (-)   (4.721)   (10.181) (5.460) 115,66   (7.574) 2.606 (25,60)   (9.054) (1.479) 19,53   (8.444) 610 (6,74)
    C. Special Costs   164.628   85.800 (78.827) (47,88)   32.529 (53.272) (62,09)   13.366 (19.162) (58,91)   4.091 (9.275) (69,39)
        a. Special Costs   202.628   133.541 (69.087) (34,10)   71.994 (61.548) (46,09)   49.007 (22.987) (31,93)   33.332 (15.675) (31,98)
        b. Accumulated Deprecations (-)   (38.000)   (47.741) (9.740) 25,63   (39.465) 8.275 (17,33)   (35.641) 3.824 (9,69)   (29.241) 6.400 (17,96)
VI.OTHER CURRENT ASSETS (NET)   469.045   44.425 (424.620) (90,53)     (44.425) (100,00)                
TOTAL LONG TERM ASSETS   1.196.176   730.301 (465.875) (38,95)   462.624 (267.677) (36,65)   390.935 (71.689) (15,50)   310.578 (80.357) (20,56)
TOTAL ASSETS   13.829.871   11.257.702 (2.572.170) (18,60)   11.208.860 (48.842) (,43)   10.962.735 (246.125) (2,20)   11.762.313 799.578 7,29


* The differences in percentage are calculated by dividing the difference's figures to the prior year's figures.
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