|
EUR 000 |
09/30/2025 |
09/30/2024 |
|
Non-current loans and borrowings |
||
|
Loans payable to Coöperatie KPMG U.A. (partners) |
47,310 |
52,443 |
|
Loans payable to Coöperatie KPMG U.A. (former partners) |
1,223 |
1,143 |
|
Lease liability |
133,172 |
102,250 |
|
Total non-current loans and borrowings |
181,705 |
155,836 |
|
Current loans and borrowings |
||
|
Employee bonds |
5,791 |
4,782 |
|
Loans payable to Coöperatie KPMG U.A. (partners) |
118,862 |
98,183 |
|
Loans payable to Coöperatie KPMG U.A. (former partners) |
5,419 |
5,090 |
|
Lease liability |
24,249 |
24,727 |
|
Total current loans and borrowings |
154,321 |
132,782 |
|
336,026 |
288,618 |
21.2 Employee bonds
Employees have had the opportunity to participate in short‑term employee bonds with a maturity of one year, a one-year EURIBOR + 3% base rate interest, and a variable surplus based on the realized profit before income tax of KPMG N.V.
In 2025, 5,740 bonds with a nominal value of EUR 1 were issued, of which 140 bonds were redeemed early (2024: 4,708 bonds with a nominal value of EUR 1, of which 125 bonds were redeemed early). The balance includes an interest accrual for the expected payout of EUR 191 (2023/2024: EUR 199).
21.3 Loans payable to Coöperatie KPMG U.A. relating to partners
The interest charged on current accounts included in loans is 2.3% (2023/2024: 3.1%). Partners participate in a mandatory loan program totaling EUR 30.9 million as at September 30, 2025 (September 30, 2024: EUR 30.1 million) bearing an interest of 8.0% (2023/2024: 8.0%). Partners also have the opportunity to subscribe to deposits with a duration varying between one and five years. The total amount subscribed as at September 30, 2025 was EUR 32.4 million, with an interest rate of 3.0% to 6.0% depending on the duration of the loan (September 30, 2024: EUR 33.1 million with an interest rate of 3.5% to 6.0%). Of the total amount of loans related to partners as at September 30, 2025, an amount of EUR 63.3 million is subordinated to all other debt (September 30, 2024: EUR 63.2 million).
Movements in financing by partners:
|
EUR 000 |
2024/2025 |
2023/2024 |
|
Balance as at October 1 |
150,626 |
120,618 |
|
Fees to partners under management agreements |
129,887 |
118,545 |
|
Interest due to Coöperatie KPMG U.A. relating to partners |
4,949 |
4,965 |
|
Other movements (net withdrawal) |
-119,290 |
-93,502 |
|
Balance as at September 30 |
166,172 |
150,626 |
Other movements refer mainly to amounts withdrawn by partners.
21.4 Loans payable to Coöperatie KPMG U.A. relating to former partners
Non-current loans payable to Coöperatie KPMG U.A. relating to former partners comprise early retirement liabilities to former partners and have an average term of 2.7 years (2023/2024: 2.1 years) and an average interest rate of 1.7% (2023/2024: 2.8%). The average interest on current loans payable to former partners is 2.1% (2023/2024: 2.8%).