Trade and other liabilities
x € 1 million | As at 31 December 2021 | As at 31 December 2020 |
|---|---|---|
Trade liabilities | 100 | 74 |
Accrued and other liabilities | 157 | 173 |
Contract liabilities | 23 | 27 |
VAT | 24 | 30 |
Pension contributions | 4 | 4 |
Total | 308 | 308 |
Classification | ||
Current | 308 | 308 |
Non-current | - | - |
Total | 308 | 308 |
Trade and other liabilities were unchanged from 2020.
The increase in trade liabilities was mainly attributable to an increase in investments and higher costs in the fourth quarter of 2021 compared with the fourth quarter of 2020, which led to an increase in invoices received.
The increase in trade liabilities was set off by a decrease in other liabilities of €16 million. This was attributable to an overestimate of invoices yet to be received from TenneT in 2020.
The contractual obligations decreased by €4 million, partly as a result of a decrease of the work in progress position.
