Government balance sheet; assets and liabilities

Table explanation

Description topics

Assets

The assets recorded in the government balance sheet are economic assets. An economic asset is a store of value representing the benefits accruing to the economic owner by holding or using the entity over a period of time. It is a means of carrying forward value from one accounting period to another.

Total assets

The assets recorded in the government balance sheet are economic assets. An economic asset is a store of value representing the benefits accruing to the economic owner by holding or using the entity over a period of time. It is a means of carrying forward value from one accounting period to another.

Non-financial assets

Non-financial assets are objects that have an economic value, on which property rights can be exerted and which do not have a financial character. In practice, this entails approximately all (non-financial) objects that can be sold. Examples of assets that cannot be sold are the sea and the air. Examples of assets that have a financial character are stocks and pensions. Non-financial assets consist of fixed assets, inventories, land and mineral reserves

AN Total non-financial assets

Non-financial assets are objects that have an economic value, on which property rights can be exerted by institutional units and which do not have a financial character. In practice, this entails approximately all (non-financial) objects that can be sold. Examples of assets that cannot be sold are the sea and the air. Examples of assets that have a financial character are stocks and pensions. Non-financial assets consist of fixed assets, inventories, land and mineral reserves.

AN11 Total fixed assets

Fixed assets include all tangible and intangible fixed assets used repeatedly or continuously for more than one year in production.

Examples: buildings, machinery, transport equipment and software.

AN111 Dwellings

Dwellings are buildings that are used entirely or primarily as residences. Public monuments identified primarily as dwellings are also included. Examples are barracks, official residences and other buildings that are intended for non-transient occupancy.

AN1121 Non-residential buildings

Non-residential buildings include whole buildings or parts of buildings not designated as dwellings. Examples: warehouses and industrial buildings, commercial buildings, buildings for public entertainment, hotels, restaurants, schools, hospitals. Public monuments identified primarily as non-residential buildings are also included.

AN1122 Civil engineering works

All constructions not classified under buildings, including the costs of infrastructural projects, e.g. constructed roads and sewerage systems and including historical monuments not indicated as buildings.

Examples: roads, railways, bridges, highways, airport runways, harbours, tunnels. The costs of clearing and preparing the site for construction are part of the costs of civil engineering works.

AN1123 Cost ownership transfer on land

Costs related to the transfer of land.

AN1131 Total transport equipment

Transport equipment for moving people and objects. Examples: motor vehicles, trailers and semi-trailers, ships, railway and tramway locomotives and rolling stock, aircraft and spacecraft, motorcycles, bicycles, etc.

AN1131A Passenger cars

Cars designed for the transportation of persons.

AN1131B Other road transport equipment

Road transport vehicles other than passenger cars.

AN1131C Trains and trams

Vehicles operating on railways.

AN1131D Ships

Transport equipment on or under water.

AN1131E Aircrafts

Planes, gliders, helicopters, airships.

AN1132A Computers

Computer equipment and electronic machinery, as far as they can be programmed by the user. This section also includes peripheral devices like terminals and print devices.

AN1132B Telecommunication equipment

Telecommunication equipment includes products such as telephones and mobile phones, television cameras and digital cameras

AN1139+AN114 Machinery, equipment and …

Machinery, equipment and weapon systems.
Machinery used for production. Also machinery for general use (such as office equipment, audio and telecommunications equipment), machinery and vehicles which occasionally use public roads, such as tractors, shovels and fork trucks. Weapon systems also belong to this category.

AN11O Other tangible fixed assets

Goods like furniture, racks, silos, storage tanks, containers, pallets, sports articles and music instruments.

AN115 Cultivated assets

Livestock for breeding (including fish and poultry), dairy, draught, etc. and vineyards, orchards and other plantations of trees yielding repeat products which are under direct control, responsibility and management of institutional units. Examples are: fruit trees, vine grapes, breeding, dairy and draught (including fish and birds), dairy cattle and sheep.

AN1171 Research and development

R&D consists of expenditure on creative work that is systematically done for the purpose of enlarging the amount of knowledge, including knowledge of mankind, culture and society and the use of this knowledge to develop new applications. The value is determined on the basis of economic revenues which are expected in the future. Unless the value can be reasonably well determined, this value is set by agreement as the sum of costs, including the costs of unsuccessful research and development work. Research and development which will not provide benefits to its owner is classified as intermediate consumption.

AN1173 Computer software and databases

Computer programs, program descriptions and supporting materials for both systems and applications software. This item also includes substantial expenses for purchase, development or extension of automated databases for use exceeding the period of one year.

AN117O Other intangible fixed assets

New information, specialised knowledge, etc. not elsewhere classified, whose use in production is restricted to the units which have established ownership rights over them or to other units licensed by the latter.

AN12 Inventories

All raw materials, semi-finished goods, work in progress and finished goods held by producers at a certain time. An exception is work in progress for the construction sector, which is part of the investments in fixed assets of the client and not part of the changes in inventories of the construction sector. This includes unfinished dwellings, non-residential buildings and civil engineering works. Positive changes in the inventories occur when goods are produced during the accounting year, but are not sold yet. Additions also occur when goods are purchased in the accounting year, but not yet used in the production process. Negative changes in the inventories occur when goods are withdrawn from existing inventories to be sold or used in the production process. The valuation of the changes in inventories is calculated in such a way that no gains or losses to inventories are caused by price changes. For this purpose, the opening and closing inventories of each good are valued against the same price, namely raw materials against the average purchasing prices over that period, finished goods against the average selling price and work in progress against the average cost price. This valuation method reduces the possibilities that the production value - and with it the value added - is influenced by price changes in the inventories during the accounting period.

AN211 Total land

Total of land underlying dwellings, land underlying non-municipal buildings and land under cultivation. No value is attributed to land underlying infrastructure and nature. The numbers do not include the value of building land.

AN2111A Land beneath dwellings

Land beneath buildings that are used entirely or primarily as residences, including any associated structures, such as garages and all permanent fixtures customarily installed in residences. The value of the land underlying dwellings is defined as the difference between the value of the total real estate (land and buildings) and the value of the structures.

AN2111B Land beneath building non-resi..

Land beneath building non-residential buildings.

Land underlying buildings not designated as dwellings. The value of the land underlying non-residential buildings is defined as the difference between the value of the real estate (land and buildings) and the value of the structures.

AN2112 Agricultural land

Land used for the production of crops and raising of livestock including land under greenhouses and barns. Land under greenhouses and barns used for other purposes than the production of crops, such as storage of caravans, are also categorized as agricultural land.

AN212 Oil and gas reserves

The reserves of oil, natural gas and natural gas condensation. Oil and gas already extracted, but not yet sold, is part of the inventories.

Financial assets

Financial assets are economic assets comprising financial claims, equity and the gold bullion component of monetary gold. Financial assets are stores of value representing benefits accruing to the economic owner by holding them over a period of time. They are means of carrying forward values from one accounting period to another. Benefits or series of benefits are exchanged by means of payment. Means of payment consist of monetary gold, special drawing rights, currency and transferable deposits. Financial claims, also called financial instruments, are financial assets that have corresponding liabilities.

AF Total financial assets

Financial assets are economic assets comprising financial claims, equity and the gold bullion component of monetary gold. Financial assets are stores of value representing benefits accruing to the economic owner by holding them over a period of time. They are means of carrying forward values from one accounting period to another. Benefits or series of benefits are exchanged by means of payment. Means of payment consist of monetary gold, special drawing rights, currency and transferable deposits. Financial claims, also called financial instruments, are financial assets that have corresponding liabilities.

AF2 Currency and deposits

Currency consists of notes and coins that are issued or authorised by monetary authorities. Deposits are standardised, non-negotiable contracts with the public at large, offered by deposit-taking corporations and, in some cases, by central government as debtors, and allowing the placement and the later withdrawal of the principal amount by the creditor. Deposits usually involve the debtor giving back the full principal amount to the investor.

AF21 Currency

Currency consists of notes and coins in circulation that are commonly used to make payments.

AF22 Transferable deposits

Transferable deposits are deposits exchangeable for currency on demand, at par, and which are directly usable for making payments by cheque, draft, giro order, direct debit/credit, or other direct payment facilities, without penalty or restriction.

AF29 Other deposits

Overige deposito's zijn andere deposito's dan girale deposito's. Overige deposito's kunnen niet worden gebruikt voor het verrichten van betalingen, behalve op de vervaldatum of na een overeengekomen opzegtermijn, en kunnen niet in chartaal geld of girale deposito's worden omgezet zonder enige aanzienlijke beperking of boete. Daarnaast omvatten overige deposito's tegoeden van de overheid die aangehouden worden bij de centrale overheid.

Other deposits include all deposits in euros and foreign currency at any resident and non-resident bank (except for saving deposits in euro's), which are not immediately transferable without restrictions.

AF3 Debt securities

Debt securities are negotiable financial instruments serving as evidence of debt.

AF31 Short-term debt securities

All securities with a maximum term of one year, which in principle are transferable against a price that has been fixed in advance. Usually, the obliged interest payments of the debtor have been discounted in the value. 'Transferable' means that assets can be converted into cash from, or on a date that has been appointed at the moment the bond was issued.

This stock also covers treasury paper issued by both the Dutch government and foreign governments, saving certificates to bearer and transferable certificates of deposits, issued by banks.

AF32 Long-term debt securities

All transferable securities, which generally do not mature within one year. They are usually quoted at the stock exchange. The interest on long-term bonds is made payable through coupons. Mortgage bonds, notes issued by banks and convertible bonds as long as they have not been converted into shares, also belong to this type of assets.

AF4 Loans

Loans are created when creditors lend funds to debtors.

AF41 Short-term loans

Short-term loans are all credits, which do not have the characteristics of deposits and which mature by contract within one year. Included are short-term loans from financial institutions, balances on current accounts (except transferable deposits), short-term consumer credit, bills (of exchange) and promissory notes.

AF42 Long-term loans

Long-term loans are all credits, which do not have the characteristics of deposits and which do not mature within one year. They mainly concern long-term loans on obligations, mortgage loans and long-term consumer credit.

AF5 Equity and investment

Equity and investment fund shares or units are claims, which are -fully, or partly- entitled to a share in profits or in the own funds in case of liquidation. Included is the value of capital formation by the government in public enterprises (quasi-corporations) that belong to the government.
Equity and investment fund shares or units are residual claims on the assets of the Equity and investment fund shares or units include:
- listed shares;
- unlisted shares;
- other equity;
- investment fund shares or units.

AF51 Equity

Equity is a financial asset that is a claim on the residual value of a corporation, after all other claims have been met. Ownership of equity in legal entities is usually evidenced by shares, stocks, depository receipts, participations, or similar documents. Shares and stocks have the same meaning.

AF511 Listed shares

Listed shares are equity securities listed on an exchange. Such an exchange may be a recognised stock exchange or any other form of secondary market. Listed shares are also referred to as quoted shares. The existence of quoted prices of shares listed on an exchange means that current market prices are usually readily available.

AF512 Unlisted shares

Unlisted shares are equity securities not listed on an exchange.

AF519 Other equity

Other equity comprises all forms of equity other than those classified in sub-categories listed shares and unlisted shares.

AF52 Investment funds shares

Investment fund shares are shares of an investment fund if the fund has a corporate structure. They are known as units if the fund is a trust. Investment funds are collective investment undertakings through which investors pool funds for investment in financial and/or non-financial assets.

AF71 Financial derivatives

Financial derivatives are financial instruments linked to a specified financial instrument or indicator or commodity, through which specific financial risks can be traded in financial markets in their own right.
Financial derivatives meet the following conditions:
- they are linked to a financial or non-financial asset, to a group of assets, or to an index;
- they are either negotiable or can be offset on the market;
- no principal amount is advanced to be repaid.
The financial derivatives include options and forwards (warrants, futures, swaps and forward rate agreements). Forwards are recorded net on the assets side of the balance sheets, financial transactions and other changes, meaning that no liabilities are presented but only net assets. The outstanding positions can therefore have a negative value.

AF8 Other accounts receivable/payable

Other accounts receivable/payable are financial claims arising from timing differences between distributive transactions or financial transactions on the secondary market and the corresponding payments.
Financial transactions in other accounts receivable/payable comprise:
- Trade credits and advances; and
- Other accounts receivable/payable, excluding trade credits and advances.

Liabilities

Sum of financial liabilities and net worth. Financial liabilities are established when debtors are obliged to provide payments or series of payments to creditors.

Total liabilities

Sum of financial liabilities and net worth. Financial liabilities are established when debtors are obliged to provide payments or series of payments to creditors.

Financial liabilities

Financial liabilities are established when debtors are obliged to provide payments or series of payments to creditors.

AF Total financial liabilities

Financial liabilities are established when debtors are obliged to provide payments or series of payments to creditors.

AF2 Currency and deposits

Currency consists of notes and coins that are issued or authorised by monetary authorities. Deposits are standardised, non-negotiable contracts with the public at large, offered by deposit-taking corporations and, in some cases, by central government as debtors, and allowing the placement and the later withdrawal of the principal amount by the creditor. Deposits usually involve the debtor giving back the full principal amount to the investor.

AF22 Transferable deposits

Transferable deposits are deposits exchangeable for currency on demand, at par, and which are directly usable for making payments by cheque, draft, giro order, direct debit/credit, or other direct payment facilities, without penalty or restriction.

AF29 Other deposits

Other deposits include all deposits in euros and foreign currency at any resident and non-resident bank (except for saving deposits in euro's), which are not immediately transferable without restrictions.

AF3 Debt securities

Debt securities are negotiable financial instruments serving as evidence of debt.

AF31 Short-term debt securities

All securities with a maximum term of one year, which in principle are transferable against a price that has been fixed in advance. Usually, the obliged interest payments of the debtor have been discounted in the value. 'Transferable' means that assets can be converted into cash from, or on a date that has been appointed at the moment the bond was issued.
This transaction covers treasury paper issued by both the Dutch government and foreign governments, saving certificates to bearer and transferable certificates of deposits, issued by banks.

AF32 Long-term debt securities

All transferable securities, which generally do not mature within one year. They are usually quoted at the stock exchange. The interest on long-term bonds is made payable through coupons. Mortgage bonds, notes issued by banks and convertible bonds as long as they have not been converted into shares, also belong to this type of assets.

AF4 Loans

Loans are created when creditors lend funds to debtors.

AF41 Short-term loans

Short-term loans are all credits, which do not have the characteristics of deposits and which mature by contract within one year. Included are short-term loans from financial institutions, balances on current accounts (except transferable deposits), short-term consumer credit, bills (of exchange) and promissory notes.

AF42 Long-term loans

Long-term loans are all credits, which do not have the characteristics of deposits and which do not mature within one year. They mainly concern long-term loans on obligations, mortgage loans and long-term consumer credit.

AF51 Equity

Equity is a financial asset that is a claim on the residual value of a corporation, after all other claims have been met. Ownership of equity in legal entities is usually evidenced by shares, stocks, depository receipts, participations, or similar documents. Shares and stocks have the same meaning.

AF8 Other accounts receivable/payable

Other accounts receivable/payable are financial claims arising from timing differences between distributive transactions or financial transactions on the secondary market and the corresponding payments.
Financial transactions in other accounts receivable/payable comprise:
- Trade credits and advances; and
- Other accounts receivable/payable, excluding trade credits and advances.

Net worth

Net worth is the balancing item of assets and liabilities.

Positive net worth indicates that the assets are larger than the liabilities.

B90 Net worth

Net worth is the balancing item of assets and liabilities.

Positive net worth indicates that the assets are larger than the liabilities.

B90 Net worth previous year

Net worth is the balancing item of assets and liabilities.

Positive net worth indicates that the assets are larger than the liabilities.

Changes in net worth

The changes in net worth depict the development of net worth during the year.

Net worth is the balancing item of assets and liabilities. The change in net worth equals the sum of changes of assets and liabilities.

B10 Changes in net worth

The changes in net worth depict the development of net worth during the year.

Net worth is the balancing item of assets and liabilities. The change in net worth equals the sum of changes of the assets and liabilities.

B101 Net saving and capital transfers

The difference between all transactions that affect net worth during the accounting period is the balancing item: changes in net worth due to saving and capital transfers. This equals the balance of revenue and expenditure of the government (B9), adjusted for the acquisition less disposals of non-financial assets (P5 + NP) and the consumption of fixed capital (P.51c). This represents the resources acquired or consumed in the government's current operations.

Other changes in net worth

This mainly concerns revaluations of assets and financial liabilities. The changes are caused by, for example, revaluations or unilateral write-offs of bad debts. Furthermore, net worth changes due to the purchase or sale of non-financial assets that are not included in the government balance sheet but had a cost or delivered financial benefit. The latter affects net worth, due to the lack of a non-financial balance sheet item. An example of this are valuables held by the government. Statistical discrepancies are also included other changes in net worth.