Balance sheet - the Novozymes Group

Note		Dec. 31, 2007	Dec. 31, 2006
		DKK million	DKK million

	ASSETS

10	Intangible assets	1,321	769
11	Property, plant and equipment	3,842	3,553
12	Deferred tax assets	47	45
13	Other financial assets	8	12
	Total non-current assets	5,218	4,379

14	Inventories	1,322	1,326
15	Trade receivables	1,344	1,193
16	Tax receivables	207	248
17	Other receivables	124	145
13	Other financial assets	196	177
	Cash at bank and in hand	460	497
	Total current assets	3,653	3,586

	Total assets	8,871	7,965




	LIABILITIES AND SHAREHOLDERS' EQUITY

18	Share capital	650	650
18	Treasury shares	(1,837)	(1,449)
	Other reserves	23	86
	Retained earnings	4,821	4,072
19	Minority interests	10	34
	Total shareholders' equity	3,667	3,393

12	Deferred tax liabilities	939	756
20	Long-term employee benefits	16	15
21	Provisions	131	134
22	Other financial liabilities	1,703	1,708
	Other non-current liabilities	21	21
	Total non-current liabilities	2,810	2,634

22	Other financial liabilities	814	461
21	Provisions	84	20
	Trade payables	422	386
16	Tax payables	49	50
23	Other current liabilities	1,025	1,021
	Total current liabilities	2,394	1,938

	Total liabilities	5,204	4,572

	Total liabilities and shareholders' equity	8,871	7,965