21. Translation differences
Financial statements
|
31 December |
|
(thousands of €) |
2017 |
2016 |
On 1 January |
(1,090) |
(467) |
Translation differences, arisen from translating foreign activities |
(664) |
(623) |
Translation differences on 31 December |
(1,754) |
(1,090) |
Translation differences increased from a negative €1.1 million at the end of December 2016 to a negative of €1.8 million at the end of December 2017 mainly due to fluctuations of the GB pounds and the U.S. dollar exchange rates.