Balance sheet - Novozymes A/S


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

	ASSETS

	Completed IT development projects	47	48
	Acquired patents, licenses and know-how	476	232
	Goodwill	3	3
	IT development projects in progress	31	33
5	Intangible fixed assets	557	316

	Land and property	965	1,001
	Production equipment and machinery	565	579
	Other equipment	169	196
	Property, plant and equipment under construction	482	261
6	Property, plant and equipment	2,181	2,037

	Participating interests in subsidiaries	2,354	2,136
	Other securities and participating interests	50	56
7	Financial fixed assets	2,404	2,192

	Total fixed assets	5,142	4,545

	Raw materials and consumables	102	95
	Work in progress	193	238
	Finished goods	431	431
	Inventories	726	764

	Trade receivables	438	404
	Amounts owed by affiliated companies	2,084	1,244
	Tax receivable	105	131
8	Other receivables	147	119
	Receivables	2,774	1,898

	Securities	34	55

	Cash at bank and in hand	92	84

	Total current assets	3,626	2,801

	Total assets	8,768	7,346

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

	LIABILITIES AND SHAREHOLDERS' EQUITY

9	Share capital	650	650
	Revaluation reserve according to the equity method	794	647
	Treasury shares	(1,837)	(1,449)
	Retained earnings	3,670	3,200
	Proposed dividend	309	279
	Total shareholders' equity	3,586	3,327

	Provisions for deferred tax	320	231
	Other provisions	12	11
	Total provisions	332	242

10	Credit institutions	1,682	1,708
	Total non-current liabilities	1,682	1,708

	Credit institutions	625	435
	Trade payables	233	219
	Amounts owed to affiliated companies	1,829	954
	Other payables	481	461
	Total current liabilities	3,168	2,069

	Total liabilities	4,850	3,777

	Total liabilities and shareholders' equity	8,768	7,346


	Notes regarding:
11	Segment information
12	Contingent liabilities and pending litigation
13	Related party transactions
14	Joint ventures
15	Statement of cash flows