9. Exceptional impairments

x € 1,000		2008		2007
Plant and equipment		-		783
Trade receivables		639		1,132
Financial fixed assets		-		500
Covered exceptional impairments		-893		-1,055
		-254		1,360

At each reporting date, RSDB assesses whether there are indications that an asset has suffered an exceptional impairment. If there is such an indication, RSDB must make an estimate the realisable value of the asset.
At year-end 2008, the book value of the net assets exceeded the market capitalisation of the company. As a result, the company has concluded that there are indications that assets might have suffered an exceptional impairment.
In accordance with IFRS, the company at year-end 2008 carried out an impairment test on the basis of these indications, for the separate cash flow generating units Print Productions Nederland, Print Productions Europe and Marketing Communications.

The realisable value of the cash flow generating units was determined on the basis of value in use, being the cash value of the future cash flows attributable to the units. The discount factor used for the determination of the value in use is 8.6%.

For all cash flow generating units, the realisable value at year-end 2008 exceeded the book value. Therefore, at year-end 2008 there were no other exceptional impairments of assets or combination of assets.