9. Explanatory notes on the separate items of the consolidated statement of income and expenses

Income

3.1.	National government funding	2021	2020

3.1.1.1.	National government funding from the Ministry of Education, Culture, and Science	172,316,850	146,307,094
3.1.2.1.	Earmarked subsidies from the Ministry of Education, Culture, and Science	835,141	-
	Total National government funding	173,151,991	146,307,094

Earmarked grants from the Ministry of Education, Culture, and Science are justified according to Model G.

The incidental allocation of NPO funds, the compensation within the resources framework for the increased intake, the wage and price compensation, more study advance funds for students, and an increasing share in student-related funding due to higher-than-average growth in the number of students are the main explanations for the realization of funding from the national government (€173 million) that was much higher than budgeted (€157 million).

3.3.	Statutory tuition / course / examination fees	2021	2020

3.3.4.1.	Statutory tuition fees	25,807,018	27,907,990
3.3.4.2.	Institutional tuition fees	10,279,476	10,042,047
	Total Statutory tuition / course / examination fees	36,086,493	37,950,037

Income from tuition fees (€36 million) was lower than budgeted (€41 million). The main cause was the reduction in the rate of tuition fees for full-time students in the 2021/2022 academic year.

3.4	Income from work commissioned by third parties	2021	2020

3.4.1.	Contract teaching	25,245,558	22,342,769

3.4.2.	Contract research
3.4.2.1.	International organizations	5,756,436	6,101,835
3.4.2.2.	National government bodies	2,976,530	2,397,516
3.4.2.3.	NWO	7,483,240	8,047,007
3.4.2.4.	KNAW	200,455	50,807
3.4.2.5.	Other non-profit organizations	1,674,852	1,475,472
3.4.2.6.	Companies	359,275	1,527,867
	Total Contract research	18,450,789	19,600,504

3.4.5.	Other income commissioned by third parties	5,341,043	5,650,204

	Total Income from work commissioned by third parties	49,037,391	47,593,476

The item “contract teaching” is primarily related to TIAS (€22.1 million).

The item “contract research” includes revenues from both projects in progress and grant projects.

Revenues from grant projects usually involve income that, depending on the duration of a research project, is awarded for the duration of a number of years.

Income from work commissioned by third parties (€49 million) was €7.5 million lower than budgeted (€56.5 million). The primary cause was COVID-19. At 13%, however, the decrease is less than it was in 2020 (18%).

3.5	Other income	2021	2020

3.5.1.	Rental revenue	410,506	249,208
3.5.2.	Personnel secondment	742,570	636,391
3.5.4.	Grants	4,500,029	5,434,984
3.5.7.	Student contributions	812,458	481,908
3.5.8.	Sales of teaching (and other) materials	683,430	608,788
3.5.10.	Other miscellaneous income	3,071,000	3,173,111
	Total Other income	10,219,994	10,584,390

The realization of other income was higher than budgeted (€6.8 million). This consisted primarily of grants and secondments.

The item “Miscellaneous other income” is further specified below.

3.5.10.	Specification of Other miscellaneous income
3.5.10.1.	Services/personnel support	781,796	820,444
3.5.10.2.	Sports passes	485,174	829,634
3.5.10.3.	Other income	1,804,031	1,523,033
		3,071,000	3,173,111

Expenses

4.1	Personnel expenses	2021	2020

4.1.1.	Wages and salaries
4.1.1.1.	Gross wages and salaries	134,526,217	127,003,965
4.1.1.2.	Social security costs	16,983,851	15,432,537
4.1.1.5.	Pension costs	22,248,584	19,580,561
	Total Personnel expenses	173,758,651	162,017,063

4.1.2.	Other personnel expenses
4.1.2.1.	Additions to personnel facilities	1,648,441	1,843,972
4.1.2.2.	Expenses for external employees	18,903,398	17,898,439
4.1.2.3.	Other	6,591,892	6,926,477
	Total Total Personnel expenses	27,143,731	26,668,887

4.1.3.3.	Benefits received	-1,262,013	-1,027,316

	Total Personnel expenses	199,640,369	187,658,634

The realization of personnel expenses was in line with the 2021 budget (€199 million).

As of January 31, 2022, the pension fund’s policy-coverage ratio was 103.9% (source: website www.abp.nl, dated April 8, 2022). Tilburg University has no obligation to pay additional amounts in the event of a pension fund deficit, other than the effect of higher future contributions, and it has therefore justified only the contributions due up to the end of the financial year in the annual statement of accounts.

In 2021, an average of 2,054 FTEs were employed (2020: 1,981 FTE): 37 FTE Board/management (2020: 37 FTE); 1,195 FTE primary process staff (2020: 1,165 FTE); and 823 FTE support staff (2020: 779 FTE). There were no employees based abroad (2020: 1 FTE).

4.2.	Depreciation/amortization	2021	2020

4.2.1.	Depreciation/amortization of intangible fixed assets	354,875	354,875
4.2.2.1.	Depreciation/amortization of buildings and land	8,888,925	8,560,256
4.2.2.2.	Depreciation/amortization of inventory and equipment	4,840,450	4,450,620
	Total Depreciation/amortization	14,084,250	13,365,751

Modern choices were made in the replacement of student workstations in terms of both the layout and the possibilities for “bringing your own device.” Partly for this reason, investment costs were lower, and the cost of depreciation was less than budgeted (€14.9 million).

4.3	Accommodations expenses	2021	2020

4.3.1.	Rental expenditures	2,952,605	2,124,794
4.3.2.	Insurance expenses	437,237	376,325
4.3.3.	Maintenance expenses	3,051,226	2,876,272
4.3.4.	Power and water	2,136,879	2,047,446
4.3.5.	Cleaning expenses	2,604,088	2,547,554
4.3.6.	Taxes and levies	782,127	807,302
4.3.8.	Other accommodations expenses	2,297,324	2,144,033
	Total Accommodations expenses	14,261,486	12,923,726

Actual accommodations expenses were lower than budgeted (€15.2 million). As a result of COVID-19, both cleaning costs and rental costs for a temporary examination site were lower.

4.4.	Other expenses	2021	2020

4.4.1.	Administration and management	2,034,109	2,515,019
4.4.2.	Inventory and equipment	10,074,612	8,668,505
4.4.3.	Books and literature	3,865,556	3,620,031
4.4.4.	Addition of other provisions	185,635	677,978
4.4.5.	Other miscellaneous expenses	17,367,532	14,348,443
	Total Other expenses	33,527,443	29,829,975

Other expenses were lower than budgeted (€39.5 million). This was largely related to COVID-19, and it primarily concerns representation, travel and subsistence expenses, scholarships, and office and consumption expenses.

The item “Miscellaneous other expenses” is further specified below.

4.4.5.	Specification of Other miscellaneous expenses
4.4.5.1.	Grants and income transfers	1,747,087	1,397,442
4.4.5.2.	Office expenses	866,176	749,672
4.4.5.3.	Travel and accommodation expenses	710,445	1,518,629
4.4.5.4.	Representation expenses	2,713,166	2,335,345
4.4.5.5.	Scholarships	2,782,150	2,099,467
4.4.5.6.	Information	3,566,226	3,023,254
4.4.5.7.	Research and Development	999,340	1,238,327
4.4.5.8.	General expenses	3,982,942	1,986,306
		17,367,532	14,348,443

Auditors’ expenses

The following fees of the independent auditor were charged to the organization and the parties included in the consolidation, all as referred to in Article 2:382a of the Dutch Civil Code (the justified auditors’ expenses relate to invoices received during the financial year).

PricewaterhouseCoopers Accountants N.V.	2021	2020
Fee: Investigation for annual statement of accounts	229,259	176,418
Fee: Other inspection activities	74,469	23,595
Fee: Fiscal consultancy	30,750	36,370
Fee: Other non-inspection activities	34,750	-
	369,227	236,383

Deloitte	2021	2020
Fee: Investigation for annual statement of accounts	-	86,112
Fee: Other inspection activities	-	21,460
Fee: Fiscal consultancy	-	19,178
Fee: Other non-inspection activities	-	-
	-	126,750

6.	Financial income and expenses	2021	2020

6.1.	Financial income
6.1.1.	Interest income and similar revenues	-66,573	-15,383
6.1.3.	Changes in value of financial fixed assets	18,407	-93,999
6.1.4.	Revenue from fixed asset receivables	10,080	48,726
	Total Interest income and similar revenues	-38,086	-60,656

6.2.	Financial expenses
6.2.1.	Interest expenses and similar expenses	2,514,370	972,771
6.2.2.	Reductions in value of financial fixed assets	-	-
	Total Financial expenses	2,514,370	972,771

	Total Financial income and expenses	-2,552,456	-1,033,427

The balance of financial income and expenses was well above budget (€0.7 million), due to early repayment of two long-term loans.

7.	Taxes	2021	2020

7.1	Total taxes for TiU Holding B.V.	92,985	-10,570
7.2	Total taxes for TIAS Business Schools B.V.	151,471	-179,171
	Total taxes (D)	244,456	-189,741

7.1	TiU Holding B.V.	2021	2020

	Profit/Loss from operational activities before taxes (A)	-47,401	-45,094
	Profit/Loss from Tilburg University Career Services B.V.	508,884	-7,756
	Taxable results (B)	461,483	-52,850
	Taxes from operational results (C)	90,871	-10,570
	Taxes from previous years	2,114	-
	Total taxes (D)	92,985	-10,570

	Tax on taxable results (C/B)	19.7%	20.0%


7.2	TIAS Business School B.V.	2021	2020

	Profit/Loss from operational activities before taxes (A)	464,062	-1,023,520
	Correction for goodwill	354,875	354,875
	Other non-deductible amounts	187,953	365,640
	Offset of losses	-303,005	-
	Taxable results (B)	703,885	-303,005
	Taxes from operational results (C)	151,471	-179,171
	Taxes from previous years	-	-
	Total taxes (D)	151,471	-179,171

	Tax on taxable results (C/B)	21.5%	59.1%
	Effective tax rates (D/A)	32.6%	17.5%

Applicable tax rate (profit/loss from ordinary operations ≤ EUR 245,000)		15.0%
Applicable tax rate (profit/loss from ordinary operations > EUR 245,000)		25.0%
Applicable tax rate (profit/loss from ordinary operations ≤ EUR 200,000)			16.5%
Applicable tax rate (profit/loss from ordinary operations > EUR 200,000)			25.0%

The applicable tax rate is based on the relative share of the group companies’ contribution to the results and the tax rates prevailing in the respective countries.

The effective tax rate differs from the prevailing tax rate due to non-deductible depreciation of goodwill.

Overview of related parties

Legal
form

Registered
office

Activity
code

Capital
December 31, 2021

Operations
balance 2021

Turnover
2021

Statement
Art. 2:403 Dutch Civil Code

Participating interest

Conso-
lidation

Minority participation

TIAS Business School

B.V.

Tilburg

3,537,190

310,741

23,046,620

80%

Yes

TiU Holding

B.V.

Tilburg

1,039,773

364,289

3,973,330

100%

Yes

Negligible participation

L-Logic

B.V.

Tilburg

60%

Decisive voice

Tilburg University Fund

Foundation

Tilburg

2,115,494

152,856

441,227

Yes

Explanation of activity codes: 1. contract teaching, 2. contract research, 3. real estate, 4. other. Average number of employees: TIAS 105 (2020: Tilburg University117), UvT Holding 1 (2020: 1)

	Legal	Registered	Activity
	form	office	code

Minority participation and no decisive voice
Foundation for Endowed Chairs	Foundation	Tilburg	4
Tilburg Orientation Program Foundation	Foundation	Tilburg	4
Stichting Netspar (Netspar Foundation)	Foundation	Tilburg	4
CentERdata Foundation	Foundation	Tilburg	4
Braventure Foundation	Foundation	Tilburg	4
Starterslift Investments B.V.	B.V.	Tilburg	4
MindLabs Association	Association	Tilburg	4
Brainport Foundation	Foundation	Tilburg	4
Midpoint Brabant Foundation	Foundation	Tilburg	4
Stichting HOVO, Brabant Seniorenacademie (Higher Education for Older Adults Foundation/HOVO; Brabant Senior Academy)	Foundation	Tilburg	4

Justification under the Standards for Remuneration Act (WNT)

For the purposes of the WNT, the Ministry of Education, Culture, and Science uses a system of remuneration classes based on complexity points. In 2021, Tilburg University fell into Class G, with 18 complexity points (benefits 10, funded students 3, and weighted education sectors 5). The WNT remuneration maximum is €209,000 for the full year, based on full-time employment.

Supervisory senior executives with employment status and former senior executives with employment status, 2021

2021	Prof. W.B.H.J. van de Donk	Prof. A.J. Schuit	P.F.I.M. Snijders, MSc, CPC	Dr K. Sijtsma
Position data	President	Member	Member	Former senior executive
Commencement and end of job performance	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31
Scope of employment (in FTE)	1.0	1.0	1.0	1.0
(Fictive) employment status?	yes	yes	yes	yes

Individual WNT maximum	209,000	209,000	209,000	209,000

Compensation plus taxable expense reimbursements	179,435	178,436	178,418	148,277
Compensation payable in installments	23,738	23,598	23,577	22,440
Subtotal	203,173	202,034	201,995	170,717
-/- Amount paid in error and not yet reclaimed	-	-	-	-
Total remuneration	203,173	202,034	201,995	170,717

Amount and reason why the overage was or was not authorized	N/A	N/A	N/A	N/A
Explanation of claim for undue payment	N/A	N/A	N/A	N/A

* Dr Sijtsma is regarded as a senior executive until November 19, 2020 at the latest in connection with his previous position as Rector. Thereafter he is accounted for as a former senior executive for 4 years (until November 19, 2024).

2020	Prof. W.B.H.J. van de Donk	Prof. A.J. Schuit	P.F.I.M. Snijders, MSc, CPC	Dr K. Sijtsma*
Position data	President	Member	Member	Member/Former senior executive
Commencement and end of job performance	Oct. 1–Dec. 31	Nov. 19–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31
Scope of employment (in FTE)	1.0	1.0	1.0	1.0
Compensation plus taxable expense reimbursements	41,464	18,859	169,693	167,870
Compensation payable in installments	5,474	2,564	21,632	21,675
Total remuneration	46,938	21,423	191,325	189,545
Individual WNT maximum	50,525	23,615	201,000	201,000

* Dr Sijtsma is regarded as a senior executive until November 19, 2020 at the latest in connection with his previous position as Rector. Thereafter he is accounted for as a former senior executive for 4 years (until November 19, 2024).

Supervisory senior executives, 2021

2021	H. Reumkens	M. Leijten	Prof. E. van Sliedregt	Prof. W.M.P. van der Aalst	J.H.P.M. van Lange
Position data	President	Member	Member	Member	Member
Commencement and end of job performance	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Mar. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31

Individual WNT maximum	31,350	20,900	5,153	20,900	20,900

Total remuneration	20,000	13,500	3,375	13,500	13,500
-/- Amount paid in error and not yet reclaimed	-	-	-	-	-
Reason why the overage was or was not authorized	N/A	N/A	N/A	N/A	N/A
Explanation of claim for undue payment	N/A	N/A	N/A	N/A	N/A


2020	H. Reumkens	M. Leijten	Prof. E. van Sliedregt	Prof. W.M.P. van der Aalst	J.H.P.M. van Lange
Position data	President	Member	Member	Member	Member
Commencement and end of job performance	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31
Total remuneration	20,000	13,500	13,500	13,500	13,500
Individual WNT maximum	30,150	20,100	20,100	20,100	20,100

Other reporting obligations under the WNT

Apart from the senior executives listed above, there were no other employed senior executives receiving remuneration above the individual WNT threshold in 2021. These officials receive an allowance for their outstanding contributions to science. Tilburg University adapts its remuneration policy where possible to Dutch standards. Given the job market, however, this does not lead to remuneration below the WNT threshold amount in all cases.

Remuneration of non-senior executives

2021	Full Professor 1	Full Professor 2	Full Professor 3	Full Professor 4	Full Professor 5	Full Professor 6	Full Professor 7
Commencement and end of job performance	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	1/1 - 8/31 & 9/1 - 12/31
Scope of employment (in FTE)	1.0	1.0	1.0	1.0	1.0	0.9	1.0 & 0.2

Individual WNT maximum	209,000	209,000	209,000	209,000	209,000	188,100	153,114

Compensation plus taxable expense reimbursements	241,596	276,729	209,075	203,038	193,718	172,456	139,482
Compensation payable in installments	25,701	26,122	24,557	24,354	24,036	21,568	17,435
Total remuneration	267,297	302,851	233,632	227,392	217,754	194,024	156,917

2020	Full Professor 1	Full Professor 2	Full Professor 3	Full Professor 4	Full Professor 5	Full Professor 6	Full Professor 7
Commencement and end of job performance	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31	Jan. 1–Dec. 31
Scope of employment (in FTE)	1.0	1.0	1.0	1.0	1.0	0.9	1.0
Compensation plus taxable expense reimbursements	236,055	270,174	203,780	198,159	188,838	168,172	181,440
Compensation payable in installments	23,411	23,845	22,543	22,382	22,109	19,845	21,892
Total remuneration	259,466	294,019	226,323	220,541	210,947	188,017	203,332