note period ended 31/12/2013 period ended 31/12/2012 Interest expense
Net foreign exchange loss
Losses on derivative financial instruments
Revaluation of investments
Loss on disposal of investments
Other financial costs
Financial expenses from foreign exchange differences was adjusted for changes in fair value of hedging instruments in an effective portion of the hedge against foreign exchange risk. The amount of the adjustment in 2013 amounted to PLN 87,000 and in 2012 respectively PLN (5,648,000). In the period covered by these financial statements, there were no borrowing costs, which should be activated.