Trade and other liabilities
x € 1 million | As at 31 December 2020 | As at 31 December 2019 |
|---|---|---|
Trade liabilities | 74 | 86 |
Accrued and other liabilities | 173 | 161 |
Contract liabilities | 27 | 23 |
VAT | 30 | 24 |
Pension contributions | 4 | 4 |
Total | 308 | 298 |
Classification | ||
Current | 308 | 297 |
Non-current | - | 1 |
Total | 308 | 298 |
Trade and other liabilities increased by € 10 million compared with 2019. The net position for network losses is reported under 'Accrued and other liabilities'. This comprises a receivable for the electricity network losses not yet settled of € 3 million and a provision for the gas network losses of € 2 million.
The decrease in trade liabilities was mainly attributable to a decrease in investments in the fourth quarter of 2020 compared with the fourth quarter of 2019, which led to a decrease in invoices received or yet to be received.
The decrease in trade liabilities was set off by an increase in other liabilities of € 12 million. This was attributable to network losses (approximately € 6 million), other liabilities (approximately € 6 million) and interest expense payable (approximately € 1 million).
The contractual obligations increased by € 4 million, partly due to an increase of the work in progress position (€ 2 million) and an increase of the short-term Customer construction contributions (Bijdrage Aansluitkosten, BAK) (€ 2 million).
