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. 

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.