Adjusted net asset value (ANR or NAV) is the net equity of a company restated by replacing historical book values with current market or fair values for each asset and liability. It is the basis of the asset-based valuation method and provides a more economically accurate picture of a company's wealth than statutory net assets. Revaluations of real estate, participations and intangible assets increase ANR, while impairments reduce it. In Switzerland, ANR is one of the two components of the practitioners' method used by cantonal tax authorities.

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Example: a Swiss holding company presents statutory net assets of CHF 8.0 million. Revaluation of its real estate portfolio adds CHF 3.2 million, while a write-down of an underperforming subsidiary deducts CHF 600,000. The adjusted net asset value of CHF 10.6 million serves as the asset component in the practitioners' method for fiscal valuation purposes.

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Hectelion prepares adjusted net asset valuations for transactional, fiscal and succession purposes in both France and Switzerland.