Financial assets

Previously VVO Group measured its financial assets at the acquistion cost or the lower market price. As at 1 January 2014 the financial assets were reclassified in the following categories of financial assets:

• Available-for-sale financial assets: These assets include investments in instruments for which fair value can be determined reliably, such as investment funds and investments in other unquoted shares. Since 1 January 2014 the investments measured at fair value are valued using fair values determined at the end of the reporting period. The resulting fair value changes are primarily recognized in other comprehensive income, net of tax, and presented in the fair value reserve under equity.
  
  The fair-valued investments in the opening IFRS balance sheet at 1 January 2014 amounted to EUR 50.3 million and EUR 55.5 million at 31 December 2014, respectively.
  
  The impact of the fair value changes on the 2014 income statement was EUR 2.4 million, including a reversal of the impairment loss previously recognized through profit or loss, EUR 0.7 million.
  
  Unquoted shares are still measured at historical cost deducted by any impairment losses, as their fair values cannot be measured reliably.
  
  

• Loans and receivables: This category includes as an example fixed-term bank deposits. Loans and receivables are originally measured at fair value and subsequently at amortized cost using the effective interest rate method. The carrying amount of the assets designated to this category was not impacted in the opening IFRS balance sheet.
  
  

• Held-to-maturity investments: Financial assets classified in this category are measured at amortized cost.