In the Netherlands, the XBRL standard has become an essential part of the strategy for filing business reports. The Netherlands Bank ( DNB) and the Standard Business Reporting ( SBR) are the key designers of Netherlands XBRL taxonomies.

On the one hand, the DNB uses XBRL (and also XML) for most types of financial “ rapportage”. Banks, Insurers, Investment firms and fund managers, Payment institutions and Electronic money institutions, Payment processing service providers, Pension Funds, Trust Offices and Premium pension institutions, all have to deliver filings in XBRL format.   Arevio Dutch edition  accommodates today the following rapportages:

 Balance Sheet Items ( BSI) !!  December 2018 !! Financial reporting for investment funds and fund managers ( FBO) !!  May 2018 !!
 MFI Interest Rates ( MIR) !!  December 2018 !!  FTK reporting for pension funds !!  September 2018 !!
 Country Risk ( Form 8023, BIS CBS) !!  June 2018 !!                  

Verzekeraars Nationale Staten (VNS-JR)

​National  OTC derivatives

Whereas the SBR is a brilliant  initiative underpinned by a mix of public and private institutions.  It produced and maintains the Dutch Taxonomy, which is the ‘dictionary’ defining data you need to shape the mandatory legal rapportages.  These are architected in a logical way and produced at various moments of the year, depending on the types of business and legal directives.

Every year, the Dutch Taxonomy is upgraded to reflect evolutions and changes in the legislation.  Each rapportage-demanding party, such as BD (Belastingdienst), BZK (Binnenlandse Zaken), CBS (Centraal Bureau voor de Statistiek), KvK (Kamer van Koophandel), or OCW (Onderwijs, Cultuur en Wetenschap), observes their own calendar for publishing these upgrades.  Other parties such as EZ (Economische Zaken), (IASB) International Accounting Standards Board, RJ (Raad voor de Jaarverslaggeving) or VenJ (Veiligheid en Justitie) do the same.Start with the customer – find out what they want and give it to them.

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Of course, in addition to DNB and SBR national filings, in the Netherlands:

  • Banks have also to comply with the Capital Requirement Directive (  CRD IV), Single Resolution Fund (SRF) and the Liability Data Report (  LDRfor 2019!);
  • Insurance companies, with  Solvency II filing; and
  • Pension funds, with the Institutions for Occupational Retirement Provision Directive (  IORP IIfor 2019!).

Needless to say the situation is complex for Dutch filing companies, advisers and software producers!  We solve it all by design.  Indeed,  Arevio Dutch editionis conceived so as to welcome and adopt all new or changed taxonomies  without any change to the software.  All you need to do is to download the relevant taxonomy files, feed them into  AREVIO, and that’s it!   No delay, no hassle, no extra-cost!

Also, as your favourite spreadsheet engine is natively supported, this eases nicely data encoding.  And the icing on the cake is that it works for any kind of presentation, including inline XBRL (  iXBRL) – which will be all the more important that the listed companies will soon be obliged to submit filings under the European Single Electronic Format (  ESEF), as brewed by the European Securities and Markets Authority (  ESMA).

Feeling like improving your reporting chain for more flexibility and efficiency?  Tired of wasting time and precious money re-running XBRL validation endlessly?  Eager to simplify your capture of data ‘facts’ and to render them swiftly onto easy-to-validate XBRL instances and reports?

Streamline your process for next year’s reporting, strip dispensable editorial consulting fees.  It costs nothing to  request a discovery version of  Arevio Dutch edition

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