EXPLANATORY NOTES TO THE PROFIT AND LOSS ACCOUNT
11. Earned premiums own account
| |
|
|
|
|
|
|
|
| |
|
2025 |
|
|
|
2024 |
|
| |
Gross |
Reinsurance |
Own account |
|
Gross |
Resinsurance |
Own account |
| Premiums |
|
|
|
|
|
|
|
| Regular premiums |
6.737 |
920 |
5.816 |
|
6.455 |
772 |
5.683 |
| One-time premiums |
14 |
4 |
10 |
|
15 |
6 |
9 |
| Total premiums |
6.751 |
924 |
5.827 |
|
6.470 |
778 |
5.692 |
| |
|
|
|
|
|
|
|
Geographical segmentation of gross premiums
| |
|
|
|
| |
2025 |
2024 |
2023 |
| Netherlands |
3.227 |
3.269 |
3.422 |
| Other EU-countries |
604 |
596 |
584 |
| Other countries |
2.919 |
2.605 |
2.212 |
| Total |
6.751 |
6.470 |
6.218 |
| |
|
|
|
12. Revenues from investments
| |
|
|
|
|
|
|
|
| |
|
|
2025 |
|
|
2024 |
|
| |
|
Return |
Realised profit |
Total |
Return |
Realised profit |
Total |
| |
|
|
|
|
|
|
|
| |
Equity |
2.453 |
25.043 |
27.496 |
2.308 |
471 |
2.780 |
| |
Bonds and other fixed income securities |
186 |
- |
186 |
701 |
- |
701 |
| |
Deposits with insurers |
70 |
- |
70 |
82 |
- |
82 |
| |
Liquid assets |
-6 |
- |
-6 |
4 |
- |
4 |
| |
Total |
2.703 |
25.043 |
27.747 |
3.096 |
471 |
3.568 |
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
13. Unrealised gains on investments
14. Other technical income own account
| |
|
|
|
| |
|
2025 |
2024 |
| |
Other interest received |
12 |
8 |
| |
Unrealised currency difference |
164 |
195 |
| |
Extraordinary profits |
58 |
- |
| |
Total |
234 |
203 |
15. Own account payments
| |
|
|
|
|
|
|
|
| |
|
|
2025 |
|
|
2024 |
|
| |
|
Gross |
Reinsurance |
Own account |
Gross |
Reinsurance |
Own account |
| |
Expirations |
737 |
16 |
722 |
622 |
- |
622 |
| |
Annuities |
150 |
- |
150 |
156 |
- |
156 |
| |
Death benefits |
3.463 |
448 |
3.015 |
3.371 |
275 |
3.096 |
| |
Surrenders |
320 |
0 |
319 |
192 |
0 |
192 |
| |
Total |
4.671 |
464 |
4.207 |
4.341 |
276 |
4.065 |
| |
|
|
|
|
|
|
|
16. Change in technical provisions own account for life insurance
See explanation in section 7.
17. Operating costs
| |
|
|
|
|
| |
|
|
2025 |
2024 |
| |
17.1 |
Acquisition costs |
|
|
| |
|
Allocated acquisition costs |
276 |
298 |
| |
|
Gross acquisition commission |
-8 |
76 |
| |
|
Fees for medical advisors |
234 |
174 |
| |
|
Inspection costs |
0 |
1 |
| |
|
Subtotal acquisition costs |
502 |
550 |
| |
|
|
|
|
| |
17.2 |
Administration and personnel costs |
|
|
| |
|
Salaries |
774 |
838 |
| |
|
Social security payments |
68 |
87 |
| |
|
Pension costs |
229 |
232 |
| |
|
Other personnel costs |
33 |
37 |
| |
|
Subtotal personnel costs |
1.105 |
1.194 |
| |
|
|
|
|
| |
|
|
|
|
| |
|
Accountant |
164 |
133 |
| |
|
Actuary |
138 |
126 |
| |
|
Other services of third parties |
1.431 |
641 |
| |
|
Outsourced work |
65 |
- |
| |
|
Donation |
100 |
100 |
| |
|
Commission |
63 |
73 |
| |
|
Office rental |
102 |
106 |
| |
|
License fees |
148 |
128 |
| |
|
Other costs |
-51 |
-36 |
| |
|
Costs allocated to investments |
-66 |
-72 |
| |
|
Subtotal administration costs |
2.093 |
1.199 |
| |
|
|
|
|
| |
|
Subtotal administration and personnel costs |
3.198 |
2.393 |
| |
|
|
|
|
| |
17.3 |
Commission received from reinsurers |
|
|
| |
|
Acquisition commission |
|
|
| |
|
Acquisition commission |
14 |
-32 |
| |
|
Recurrent commission |
-316 |
-258 |
| |
|
Subtotal commission received from reinsurers |
-301 |
-290 |
| |
|
|
|
|
Operating expenses have increased. This is primarily due to project costs associated with the hiring of external contractors and other temporary staff.
Pensioncosts
| |
|
|
|
| |
|
2025 |
2024 |
| |
Pension premium |
229 |
232 |
| |
|
|
|
| |
|
|
|
Directors' remuneration
In 2025 the following amounts were paid as renumeration, including pension costs, to (former) directors and supervisory board members: 436 (2024: 284) respectively 35 (2024: 35). The increase in directors' compensation is primarily due to an increase in working hours.
Employees
All employees work in The Netherlands.
| |
|
|
|
|
|
| |
|
2025 |
|
2024 |
|
| |
|
FTE |
number |
FTE |
number |
| |
Number of employees employed as of 31/12 |
5,0 |
6,0 |
6,6 |
9,0 |
| |
Average number of employees employed |
5,8 |
7,5 |
6,6 |
9,0 |
| |
|
|
|
|
|
Accounting firm costs
The costs are charged to the year to which they relate. The amounts below include VAT.
| |
|
|
|
|
|
|
|
|
| |
|
|
2025 |
|
|
|
2024 |
|
| |
|
Deloitte
Accountants N.V. |
Other Deloitte-
netwerk |
Total Deloitte |
|
Deloitte
Accountants N.V. |
Other Deloitte-
netwerk |
Total Deloitte |
| |
Examination of the annual accounts |
149 |
- |
149 |
|
118 |
- |
118 |
| |
Other audit assignments |
15 |
- |
15 |
|
15 |
- |
15 |
| |
Total |
164 |
- |
164 |
|
133 |
- |
133 |
| |
|
|
|
|
|
|
|
|
In addition to the statutory audit of the annual accounts, Deloitte Accountants N.V. also performed the statutory audit of the Solvency II QRTs.
18. Investment costs
| |
|
|
|
|
| |
|
|
2025 |
2024 |
| |
18.1 |
Investment and administrative costs |
|
|
| |
|
Investment administrative costs |
63 |
57 |
| |
|
Allocated personnel costs |
66 |
72 |
| |
|
|
|
|
| |
18.2 |
Realised loss on investments |
311 |
- |
| |
Total |
|
441 |
128 |
| |
|
|
|
|
19. Unrealised loss on investments
20. Other technical charges own account
| |
|
|
|
| |
|
2025 |
2024 |
| |
Interest technische rekening cedenten |
- |
- |
| |
Unrealised currency difference |
330 |
107 |
| |
Extraordinary loss |
38 |
- |
| |
Resultaat na belastingen |
368 |
107 |
21. Investment income allocated to non-technical account
In 2025 the allocation to the non-technical account is 23.410 higher than in 2024. The main reason is the sale of the investment portfolio as it stood in 2024 and the resulting profit.
22. Result by profit sources
| |
2025 |
2024 |
| Result on interest |
-479 |
-100 |
| Result on costs |
-2.385 |
-1.651 |
| Result on mortality and additional insurance |
1.798 |
1.572 |
| Result on changes |
297 |
261 |
| Subtotal result on principles |
-769 |
82 |
| |
|
|
| Other technical benifts and costs |
25 |
13 |
| Technical result |
-743 |
95 |
| |
|
|
| |
|
|
The technical account decreased by 838 compared to 2024. This was mainly due to higher operating costs.
23. Result after taxes
| |
|
|
|
| |
|
2025 |
2024 |
| |
Taxes financial year 25,8% |
-6.927 |
-901 |
| |
Change deferred taxes 25,8% |
402 |
-17 |
| |
Taxes previous years |
-220 |
168 |
| |
Taxes |
-6.744 |
-750 |
| |
|
|
|
The effective corporate tax rate in 2025 was 25,8% (2024: 25,4%). The applicable rate is 25,8%.
