Revenue streams
The Group generates revenue primarily from single or multiple performance obligations to deliver assurance and advisory services. The main component of these contracts is labor.
|
EUR 000 |
2021/2022 |
2020/2021 |
|
Revenue from contracts with customers |
655,446 |
568,672 |
Disaggregation of revenue from contracts with customers
In the following table, revenue from contracts with customers is disaggregated by primary service lines.
|
EUR million |
Wet toezicht Accountantsorganisaties (Wta) |
Other financial statements audits |
Other assurance services |
Total assurance services |
Advisory services |
Total |
|
FY 2021/2022 |
||||||
|
OOB clients (Wta) |
70.1 |
4.9 |
9.4 |
84.4 |
– |
84.4 |
|
Non-OOB clients (Wta) |
136.1 |
18.6 |
11.4 |
166.1 |
9.9 |
176.0 |
|
Other audit clients |
– |
49.4 |
7.0 |
56.4 |
4.3 |
60.7 |
|
Other clients |
– |
– |
12.9 |
12.9 |
321.4 |
334.3 |
|
Total |
206.2 |
72.9 |
40.7 |
319.8 |
335.6 |
655.4 |
|
Of which revenue is related to: |
||||||
|
Assurance |
206.2 |
72.9 |
40.2 |
319.3 |
45.1 |
364.4 |
|
Advisory |
– |
– |
0.5 |
0.5 |
290.5 |
291.0 |
|
Total |
206.2 |
72.9 |
40.7 |
319.8 |
335.6 |
655.4 |
|
FY 2020/2021 |
||||||
|
OOB clients (Wta) |
67.0 |
4.5 |
7.4 |
78.9 |
– |
78.9 |
|
Non-OOB clients (Wta) |
117.2 |
15.0 |
10.5 |
142.7 |
11.5 |
154.2 |
|
Other audit clients |
– |
51.1 |
6.6 |
57.7 |
9.3 |
67.0 |
|
Other clients |
– |
– |
12.5 |
12.5 |
256.1 |
268.6 |
|
Total |
184.2 |
70.6 |
37.0 |
291.8 |
276.9 |
568.7 |
|
Of which revenue is related to: |
||||||
|
Assurance |
184.2 |
70.6 |
36.4 |
291.2 |
36.0 |
327.2 |
|
Advisory |
– |
– |
0.6 |
0.6 |
240.9 |
241.5 |
|
Total |
184.2 |
70.6 |
37.0 |
291.8 |
276.9 |
568.7 |
Contract balances
The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.
|
EUR 000 |
2021/2022 |
2020/2021 |
|
|
Trade Receivables which are included in ‘Receivables’ |
17 |
107,887 |
88,084 |
|
Contract assets |
34,142 |
32,257 |
|
|
Assets held for sale |
19 |
– |
256 |
|
Contract Liabilities |
-63,017 |
-55,237 |
The contract assets primarily relate to unbilled services in relation to contracts with customers, amounting to EUR 34,142 as at 30 September 2022 (30 September 2021: EUR 32,257). Unbilled services are subject to a first pledge in favor of Coöperatie KPMG U.A. as security for loans advanced.
The remainder of the contract assets are related to costs to fulfil contracts where the Group performs set-up activities to deliver Software as a Service (SaaS licenses). These costs were determined based on the cost price of consulting hours related to the set up activities performed before the go-live date of the SaaS licenses. These contract assets are amortized over the period that the SaaS license is provided to the customer.
The amount of amortization of contract assets during the period ended 30 September 2022 was EUR 113 (30 September 2021: EUR 170). The amortization expenses relate partly to contract assets formed during the financial year and partly to existing contract assets as at the start of the financial year.
The contract liabilities primarily relate to advance billings for various activities in line with KPMG’s services to be provided. Contract liabilities also include setup activities that do not transfer a service to the customer on their own, but are necessary for the use of the SaaS licenses to be provided to the customer.
No amount has been recognized as revenue for the period ended 30 September 2022 (EUR 1 for the period ended 30 September 2021), which partly relates to contract liabilities formed during the year and partly to contract liabilities recognized at the beginning of the period.
Transaction price allocated to the remaining performance obligations
The Group applies the practical expedient in paragraph 121 of IFRS 15 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.