Annual Report 2021
Financial statements
Changes in provisions
At 1 January2454
Additional foreseen amounts119
Reversal of unused amounts-4-18
Usages in course of year-14-22
At 31 December2424

The provisions were created for:

  • VAT and legal issues;

  • Dismantling costs wind turbines;

  • Employee restructuring expenses;

  • Retention of disability risk instead of insuring it with UWV (Employed Persons Insurance Administration Agency); and

  • Other expenses.

The provision for VAT and legal issues is based on best estimates available at year-end, making allowance for expert opinions.

The timing of the outflow of resources related to these provisions is uncertain because of the unpredictability of the outcome and the time required for the settlement of disputes.

The provisions for employee restructuring are based on arrangements agreed in the Collective Bargaining Agreement, restructuring plans, and on decisions made by a.s.r.’s management.

Reversal of unused amounts in 2020 reflects a favourable ruling in a lawsuit in which a.s.r. was involved regarding a real estate development project.

An amount of 11 million (2020: 17 million) of the provisions is expected to be settled within twelve months after the balance sheet date.