&!$'%& $' % ED5H @1,/ 3DH3D*@D)@5E D H55@ 1D @@D ,/L @AD *55)1 @@DGG@L2D53+ @3 2 3D3DK 3@5 D * $ED,/D30 DH3D1D8(49D 3D52A1)D,3D*@D 3+ 0 3DE I )D) @*E:D> EDL,/3D55D),3)D L5H 1D0 33,ADH @15@ 3#D DL,/3D3GD@, D /@DH @ @D 3D @D157 3D3GD1DAEG 3E 3D 3D2 I @0 @AD@53D, DL,/3D32D3, ED 0 33 3:D ) 3I55@,)D 30D,0D53 @+ L5 0D5 3D 3D0 33,ADH @L2 1 3D,AD1 G0D 2@D*5 D0@,/) 3DI D, D0 33,AD,3D D *55$ 3DH3D3 @ 3;? 3D1D*55)1 @@DGG@L2D5G+ I 3D57DK 3@5 D 3D DD 1$ED* $ED 5313)AD 3D0 1,)D% EA53) 1G0D) *D I@,/D7 L 3D,3D*@D1,30 @*3DI @+ 3D55@) A3 3:D>0D 3D) 1G00,)D * 1 21D* @AE 1D2@DE5 3D',EAE D550D 55@D2,/3D*55$DED @D AEDH 1D0 33,AD H @15@ 3DL5GD)3D1AD,0D52DL5GDH11 3:D EGG@1,/0D @D,ADH 1D) 5G2 3E @D 3D 511 )?AD)3D55@D2 ED2,/3DI @0D2@D ,0D 3D @H3D5H @EG,)D) @0EDED/ D H55@1D25 ED7@5 @ 3D0 33,AD,/D3 @ 3D E D1E 3D13 3:D@52D 3D,0D550DL5D 1,/DED,0D1 AD2)D) H 3:D@3AED7@5+ @D,0D57D3 @ D23, @ 3D,3) 3D5H @D E D@ 3) 3:?D 3DH3D*@D,3,E,E, H 3D,AD 52 2E A:31DI@D2 3A 3D 3D,3AE3+ E, AD 10@DH @E 11 3D*5 DL D 3 @), A7+ @ 3 D2E@ ) 1 3D* 3D) 352 3: > DH@)DIED* ED 13)@,/0AE D,ADED ,0D,3D2,/3D1 H 3D* D) 1 @D* $ED2 D D$) 157 3D) 3D',30D L,)D) *5G+ 3?DLG*ED3D1:D>0D 3D13) DE,/D @H3DG,E) )3DED/ D52D 3DGG@L+ 2 DA2 31 H,3)DE D @ ,0 3D2 3A 3D 25 AEDH @E 11 3DEDL D@ 0 3,3)D25 AE 3D *5G 3D2 ED DH51) 3 D) 3 @E, A:D1D 5@ +*E,) D5 2A 3@,5?ADA* EA 3:D ) 3I55@,)D 30D,0DED/ DH55@1D25 ED ,3A7 1 3D57D DI 3A 3D 3DH @13) 3ADH3D D2 3A 3D*, @D 3D3GDED/ D/ D5 1D355,ED @ ,0ED1AD/ D@D3, ED,/D3A1G,E:D, D) + *E D* $ED @AED2,/3DI @0D .3H15 D 2@D1E @D550D2,/3D7 @A5531,/0 D1 H 3:? > EDL,ED* 2DH0D,3D* 1D01 ,3 D,3+ ) 3:D3D2,/3DI @0DH,3ED, @ 3DG) ED * ED 13)@,/0AE D2@D,0DL, DAEG 3E 3D @53157 3D2 ED D3, GIAE DE 1 $553AD 3D ,AD1,/0@D,3DAEED, DE D E1 3:D1AD / D, EAD)@)DI,1DL5 0D/ DE, H @D3@D 3D 5715AA,3):D3D2,/3DI @0D7@5 @D,0DED <I,11 3=D57DE DI 00 3D,/H55@ 1D55@D 3 @), A7@ 3 D2E@ ) 1 3DE D057+ 7 1 3D3DEDIED2 3A 3D *ED 13)+ @,/0DH,3 3:D 3D255,DH55@ 1DH,3D,0D DI53,3)5@75@E, D, D A155ED3, GI D H @I@2,3)A0 E 1AD3, ED,3D* ED77@E + 2 3ED2@D,3D* EDE@77 3*G,ADE D71EA 3D !3DE D52,3 @ 3D2 ED 3DA*5 3 30AE:D @DI553 3D@D2 3A 3DH3DG,E 315+ 7 3 D3E,531,E ,E 3DH 1 3DI,1 3D) 3D H@ 2 3D5H @D DH15 @:D3DH 1 3D1, E 3D 550D*G3DA*5 3 3DH55@D D G@DAE3:D , D@522 1,) D @)D,@@,E @ D D I5+ 3 @AD2@D/D@D01)D/ D3, E:D ED*@D 535@E*55J D370DA15 )D D5@75@E, D 2 @ @ DH1, ) 3D,3D!!3D017:? 3D1DH,3ED* EDE5*DIED25 ,1,/0 @D52D D1D2,3GE DH55@ 1 3DE DH,3 3D*5 D &0$0+10&0 5!$&0%10#'!&0$&6%0 4-&-0!&0&05''&5!"#0 .!&-0%)0#0!&0$#0 0#!"#&),07 777 """! !&"!$ "!! &!!! ! #%#! !!!! "#!!"!! ! """ !! "!! ! !!!#&&"! #!!!""!"! pagina 12, 24-11-2014 © Het Financieele Dagblad L D,3D*@D7@,H!1 H 3D 13) 3DI EDE D 52,3 @ 3:D> DH03E, A?DL )EDL D3D 3,)D3 30 3:D>1AD DH55@0 G@ 3DL5DH @D G,E 3157 3D1AD,/D53AD5 D/ D2 AE1D D 3 D)DIED-0DAE52DH,3D 3D D3 @ D )DIED/-/DAE52DH,3E:D@D,ED/@DI,A+ E 3DI D11 ADE D52,3 @ 3:D,/3D23D 3D,0DLE 3D@, DI 0 3D57D 3D$) 1 ) 3D 71 0D3D 3D2 @DI@D*,/D053DA75@E 3D 3D,0D1G,D,3D DL53D053D1,)) 3:D3L D5*+ E @AD),3) 3DEI DI 0 3D2 EDH@, 3 3D 3@D@G0 L5*E DH03E, 55@ 3D 3D I@ 3D!!3DI 0D,/D53A:D1AD/ D 3D E/ D 7GLL 1ED1,/0EDH0DED/ D DE@ED3, ED *5 $EDE DH @ 1 3D2@DED/ D* 2DA+ 2 3D)@5E @D0G3ED20 3:? !$!" 5 3D3D1D35)D01 ,3DIAD),3) 3D*@D 5G @AD 3D3, GID*G,AD5GI 3:D>0D* D @D AE,/AD 3D* 1DH @A1)DH3D) + 20E?D* @,33 @EDL DL,*D> 3D7105 0D H51D3E 0 3,3) 3D$5E5?AD03,7A 1A:DED 3DI ,13D2 ED05 , 3D13)L2DH @3+ @ D,3D 3DI553I,/0D$A,3 @ D2 :D 0D),3)D 10 D)D0,/0 3:?D, D$A,3E, D D*@D A1G,E 3D5GI0G3 DE D)3D AEG @ 3D,3D 1$E:D> EDIAD DE,/DH3D D)@5E DAEE 2 3EAD,3D D@*,E EGG@D I@,/D11 AD52D* ED53EI @7D@, D 3D 3, ED52D D2 3A 3:D53,3)5GIDH53D 2 3D@DA5I, A5D3, ED,3E @ AA3E:D0D IAD,/3D57D DAEG, D$) 037EDE5EED , 23D2 DEE 3 @ D57D 3 @), LG,+ 3,) DI53,3)71EE )@53 3:DEDI,1 D,0:D @DE5 3D,0D2 D@,3D),3)DA7 ,1,A + @ 3D 3D,0D)3 I )D D2 3A 3DI @D H @) E 3:D 1G00,)D,ADED1E @DI @D,/D 10@D) 052 3:? ED25 @3 D77@EGG@D0G3D/ D E ) 3I55@,)DL, 3DED 3D 71D* @+ A 30I/ D571,*ED1AD2 3A 3D) 1G00,)D I5@ 3D"D>H @DF&D/@DAEED, D77+ @EGG@D,/D D E1) ADH3D D,/ 305@$D 3DI5@ED/ D2 E 3D 3D3, ,3)D ) 3?D1*EDL :D>0DL5 0D3@D, D57+ 1,*E 3 D0I/ AD52DGG@L2* ,DE D H5@ @ 3:D,3) 3D, D DI @ 1D255,+ @D20 3DL51AD D,?ADH3DE H D5AD 5$D D 3A 5+05$% 2*,3 :D @13D AEEDH51D2 ED@,/E/ A*G,L 3D 3D5GI + @,/H 3D7@5 @ 3D, D 3 @), LG,3,) @DE D 20 3D55@D @D,/H55@ 1D 3D3, GI D ) H 1D52* 3DE D5GI 3:?D D*1ED*@D E 1 $553DE H55@A*,/3D52D @D 3D$5E5DH3D E D1E 3DL, 3:D EDL, ED @D ,) 31,/0D3, ED G,ED 3D,00 D0AE 3 3D23E 1D52D!!3D *G,AD,3D 3D@,/E/ :D> 3D7@*E,)D,3,E,E, $D 2@D1AD, 23D*, @D35GD 3AD 3D255,D 53EI @7DH3DI EDE D20 3D, EADI@D 2 3A 3D1,/DH3DL5G 3DI5@ 3D3D DH @3 @EDED DI @ 1:? ED7@51 2D,ADH51) 3AD3D1DED, + @ 3D>HAEDL,ED,3DL,/3D ,) 3D 30)@5 $?:D >5 17@,/AI,33@D3, 1D *3 23D A*@,/$ED @5H @D,3DL,/3D5 0D :D 3A 3D 30 3DI 1,AI@D @E,53 1D2@D,3D 3DA71,EDA 53DH5@+ 2 3DL D*G3D57,3, D5H @D 3D53 @I @7D L EE 3D @D 3D* 0/ D52D 3D)3D@D H @H51) 3AD@E,53 1D5H @D 30 3:D@D ED,ADD3EGG@1,/0D3, ED@E,53 1:D,3AD,0D ED,3L, DL1D,0D) 3D,3) 3D2 @DAE 1+ 1,)DD I @ 3:D0DI5@D*E @5*E,)D1AD 2 3A 3DI!1DAE 11,)DL,/3DI3ED3D 30D ,0D* ED,AD$*30 1,/0DH3D DH@)D*5 D/ D * ED* ED$) 0 3:D,33 3DED01 ,3 D ) , D* D/ D) 1,/0D2@D,3D* ED)@5E D ) * 1DL5GD* EDH51052 3D53L,3D0G33 3D L,/3:? >0D* D* EDL 1$D550D2 ) 20E:D 2EDI D,/D D31 )DH3D 3D3, GI D I553I,/0D* EDGE5) @G,0DI,1 3DE @G)+ @,3) 3D A15E 3DI D2@D!!3D7@0 @+ 71EAD7 @D*G,AD3DE D1 )) 3:D,3 @D 71EAD2,3 @DGE5?AD2,3 @DD@,/ 3D *E 3DI :D0DIAD @H3D5H @EG,):D @D* ED 3,) DED* ED571 H @ DI@ 3D 7@0 @7@51 2 3:D ) 3I55@,)D+ 7E @D,0D) 200 1,/0 @DED2 3A 3D 3, EDH @3 @ 3DE 3L,/D* EDL D) 1G00,)D 20E:?
© Copyright 2024 ExpyDoc