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Case C-640/18: Judgment of the Court (Second Chamber) of 23 April 2020 (request for a preliminary ruling from the Cour d'appel de Mons — Belgium) — Wagram Invest SA v Belgian State (Reference for a preliminary ruling — Directive 78/660/EEC — Annual accounts of certain types of companies — Principle that a true and fair view must be given — Acquisition of a financial fixed asset by a public limited company — Entry as a charge, in the profit and loss account, of a discount relating to a non-interest-bearing debt due after one year and entry of the purchase price of the asset as an asset in the balance sheet after deduction of the discount)
ECLI:EU:UNKNOWN:62018CA0640
62018CA0640
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13.7.2020
Official Journal of the European Union
C 230/6
(Case C-640/18) (*)
(Reference for a preliminary ruling - Directive 78/660/EEC - Annual accounts of certain types of companies - Principle that a true and fair view must be given - Acquisition of a financial fixed asset by a public limited company - Entry as a charge, in the profit and loss account, of a discount relating to a non-interest-bearing debt due after one year and entry of the purchase price of the asset as an asset in the balance sheet after deduction of the discount)
(2020/C 230/06)
Language of the case: French
Referring court
Parties to the main proceedings
Applicant: Wagram Invest SA
Defendant: Belgian State
Operative part of the judgment
In the case of the acquisition by a public limited company of a financial fixed asset, for which payment of the price is to be by long-term, interest-free instalments, under conditions similar to those of a loan, the principle of a true and fair view laid down in Article 2(3) of Council Directive 78/660/EEC of 25 July 1978 based on Article [44(2)(g) EC] concerning the annual accounts of certain types of companies, is to be interpreted as not precluding the use of an accounting method which provides for the entry as a charge in the profit and loss account, at the market rate, of a discount relating to a non-interest-bearing debt becoming due after one year relating to that acquisition, and the entry of the purchase price of the fixed asset as an asset in the balance sheet after deduction of that discount.
(*)
Language of the case: French.
ECLI:EU:C:2020:140