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Balance Sheet

2020 Realisation, 2020 Budget and 2019 Realisation

amounts x €1,000

    
  

realised in 2020

budgeted for 2020

realised in 2019

ASSETS

    

Fixed Assets

    

- buildings and grounds

 

339,653

338,775

325,685

- inventory and equipment

 

26,501

28,038

21,445

- information systems

 

893

680

947

Tangible fixed assets

 

367,047

367,493

348,077

Financial fixed assets

 

229

3

608

  

367,276

367,496

348,685

Current Assets

    

- Inventory

 

194

221

200

- Receivables

 

19,698

25,000

23,056

- Cash and cash equivalents

 

57,594

30,952

73,334

  

77,486

56,173

96,590

Total assets

 

444,762

423,669

445,275

LIABILITIES

    

Equity

 

247,252

236,416

250,317

Facilities

 

26,366

29,212

31,191

Long-term liabilities

 

7,973

8,041

8,307

Loan o/g

 

0

0

0

Current liabilities

 

163,171

150,000

155,460

Total liabilities

 

444,762

423,669

445,275

Explanation of the Most Important Developments in the 2020 Balance Sheet Compared to the 2019 Balance Sheet

The tangible fixed assets increased compared to 2019 due to investments in new premises for the Faculty of Social Sciences (Maria Montessori building), which will be put into use in early 2021. The decrease in cash and cash equivalents was mainly caused by the investments in real estate. Equity decreased due to the negative result and the transfer of land and related equity (€1.8 million) to Radboud university medical center. The lower provisions are mainly a result of the reduced WNU facility provision (lower enrolment) and the settlement of the provision for demolition and asbestos removal. 

Explanation of the Most Important Developments in the 2020 Balance Sheet Realisation Compared to the 2020 Budget

Larger differences can be seen in ‘receivables’: here, there is a lower receivables balance due to a lower level of activity as a result of the coronavirus crisis. Cash and cash equivalents include higher advance financing of projects and higher cash flow due to a lower than budgeted deficit. The latter is also reflected in higher equity. Short-term debts are higher than budgeted due to more prepayments of tuition fees (more students) and higher liability for leave positions at the end of the financial year (due to less leave taken during the pandemic). The number of employees has also increased. Cash and cash equivalents decreased by €15.7 million, mainly because investments exceeded cash flow.

Cash flow statement

  

(amounts x €1 million)

  
 

2020

2019

Operating Result

-1.2

11.1

Depreciation*

27.0

30.7

Cash flow

25.8

41.8

Change in provisions

-4.8

-2.0

Change in net working capital

11.0

10.4

Cash flow from operating activities

32.0

50.2

Cash flow from investment activities

-47.4

-67.7

Cash flow from financing activities

-0.3

-0.3

Change in cash and cash equivalents

-15.7

-17.8

* excludes Faculty of Medical Sciences/Radboud university medical center