72 Forschungszentrum Jülich | Annual Report 2012 Finances Investments in science and research secure our future. Financing from public funds makes it possible to conduct the independent preliminary research that is essential to ensure sustainable development. In addition to this, Forschungszentrum Jülich also generates income from licences with its industrially oriented research. Profit and loss account The profit and loss account compares the income and costs of Forschungszentrum Jülich. The difference normally corresponds to the company profit or loss. In the case of Forschungszentrum Jülich, the partners are obliged to balance the books. Like institutional funding, this extra revenue is part of the additional subsidies. The profit and loss statement is Balance sheet Subsidies from the Federal Republic of Germany and the federal state of North Rhine-Westphalia make up by far the largest part of Forschungszentrum Jülich’s income. In addition, therefore always balanced. Forschungszentrum Jülich generates significant revenue through project management activities, a large number of research and development pro- jects, and the provision of research facilities. The remaining operating income mainly consists of income from the provi- sions put aside for the decommissioning of nuclear facilities. Balance sheet 2012 (millions of euros) Assets 2012 2011 A. Fixed assets 510.4 465.9 I. Intangible assets 3.4 2.8 II. Tangible assets 506.8 462.9 III. Financial assets 0.2 0.2 B. Current assets 852.8 806.3 I. Inventories 39.9 37.2 II. Accounts receivable and other assets 30.9 21.6 III. Government equity to balance the books 760.6 708.2 IV. Cash on hand and on deposit with Deutsche Bundesbank, cash at credit institutions, cheques 21.4 39.3 C. Accruals and deferrals 13.6 25.3 Total assets 1,376.8 1,297.5 Liabilities 2012 2011 A. Equity capital 0.5 0.5 B. Special items for subsidies 585.9 543.3 I. on fixed assets 509.9 465.4 II. on current assets 76.0 77.9 C. Provisions 725.5 698.2 I. Decommissioning and disposal of nuclear installations 432.2 452.5 II. Pensions and miscellaneous 61.6 57.1 III. Provisions for taxation 231.7 188.6 D. Accounts payable 63.8 54.9 E. Accruals and deferrals 1.1 0.6 Total liabilities 1,376.8 1,297.5 Jülich also receives third-party funding from industry, project funding from federal and state ministries, and research funds from the European Union.