Notes And Other Explanatory Information [Abstract]
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2022-01-01 to 2022-12-31 |
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| Notes and other explanatory information [abstract] | |
| Disclosure of accounting judgements and estimates [text block] |
3. Significant accounting judgements and key sources of estimation uncertainty
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| Disclosure of accrued expenses and other liabilities [text block] |
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| Disclosure of allowance for credit losses [text block] |
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| Disclosure of auditors' remuneration [text block] |
7.6. Services provided by the statutory auditor and related persons
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| Disclosure of authorisation of financial statements [text block] |
The consolidated financial statements were authorized for issue by the Board of Directors of the Company on
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| Disclosure of basis of consolidation [text block] |
Basis of preparation
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| Disclosure of borrowings [text block] |
6.18. Interest-bearing debt
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| Disclosure of cash flow statement [text block] |
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| Disclosure of commitments and contingent liabilities [text block] |
The Brazilian joint ventures have been facing claims relating to indirect tax credits (ICMS) totaling € 5.3 million (2021: € 5.0 million). Several other tax claims, most of which date back several years, were filed for a total nominal amount of € 22.0 million (2021: € 18.6 million). Evidently, any potential gains and losses resulting from the above mentioned contingencies would only affect the Group to the extent of their interest in the joint ventures involved (i.e. 45%).
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| Disclosure of contingent liabilities [text block] |
7.3. Contingencies, commitments, secured liabilities and assets pledged as security
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| Disclosure of cost of sales [text block] |
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| Disclosure of credit risk [text block] |
Credit risk
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| Disclosure of deferred income [text block] |
6.20. Other current liabilities
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| Disclosure of deposits from banks [text block] |
6.10. Cash & cash equivalents and short term deposits
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| Disclosure of depreciation and amortisation expense [text block] |
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| Disclosure of derivative financial instruments [text block] |
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| Disclosure of dividends [text block] |
All dividends from non-consolidated equity investments related to interests still held at reporting date as no shares were sold during the year.
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| Disclosure of employee benefits [text block] |
(a). Attributing benefits to periods of service under IAS 19 ‘Employee Benefits’
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| Disclosure of entity's operating segments [text block] |
4.1. Key data by reporting segment
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| Disclosure of events after reporting period [text block] |
Events after the balance sheet date;
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| Disclosure of expenses [text block] |
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| Disclosure of expenses by nature [text block] |
5.3. Operating result (EBIT) by nature
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| Disclosure of fair value measurement [text block] |
Equity investments at FVTOCI
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| Disclosure of fair value of financial instruments [text block] |
Derivatives
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| Disclosure of fee and commission income (expense) [text block] |
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| Disclosure of finance income (cost) [text block] |
5.5. Other financial income and expenses
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| Disclosure of financial risk management [text block] |
Principles of financial risk management
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| Disclosure of general information about financial statements [text block] |
1. General information
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| Disclosure of going concern [text block] |
The Group has prepared the financial statements on the basis that it will continue to operate as a going concern.
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| Disclosure of government grants [text block] |
The royalty income increased with 23% due to higher sales. Government grants mainly related to subsidies in China. There are no indications that the conditions attached to those grants will not be complied with in the future and therefore it is not expected that subsidies may have to be refunded.
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| Disclosure of impairment of assets [text block] |
Management performed the annual impairment test on the goodwill related to BBRG on the basis of the latest business plan. Following the realized turnaround performance of the business in 2020, headroom has become very solid, reducing the likelihood of an impairment loss (see note 6.2. ‘Goodwill’).
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| Disclosure of information about key management personnel [text block] |
Key Management includes the Board of Directors, the CEO, the members of the Bekaert Group Executive (BGE) and the Senior Vice Presidents (see last page of this report).
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| Disclosure of intangible assets [text block] |
(b). Reclassification of implementation and customization costs linked to cloud computing arrangements
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| Disclosure of interest income (expense) [text block] |
5.4. Interest income and expense
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| Disclosure of inventories [text block] |
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| Disclosure of issued capital [text block] |
6.13. Ordinary shares, treasury shares and equity-settled share-based payments
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| Disclosure of joint ventures [text block] |
5.7. Share in the results of joint ventures and associates
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| Disclosure of leases [text block] |
6.4. Right-of-use (RoU) property, plant and equipment
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| Disclosure of liquidity risk [text block] |
Liquidity risk
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| Disclosure of market risk [text block] |
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| Disclosure of non-controlling interests [text block] |
6.15. Non-controlling interests
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| Disclosure of non-current assets or disposal groups classified as held for sale [text block] |
6.12. Assets classified as held for sale and liabilities associated with those assets
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| Disclosure of objectives, policies and processes for managing capital [text block] |
Capital risk management
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| Disclosure of other assets [text block] |
6.6. Other non-current assets
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| Disclosure of other current assets [text block] |
6.11. Other current assets
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| Disclosure of other liabilities [text block] |
6.19. Other non-current liabilities
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| Disclosure of other operating expense [text block] |
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| Disclosure of property, plant and equipment [text block] |
6.3. Property, plant and equipment
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| Disclosure of provisions [text block] |
6.17. Provisions
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| Disclosure of related party [text block] |
7.4. Related parties
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| Disclosure of research and development expense [text block] |
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| Disclosure of reserves within equity [text block] |
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| Disclosure of subsidiaries [text block] |
7.7. Subsidiaries, joint ventures and associates
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| Disclosure of tax receivables and payables [text block] |
Given its global presence, Bekaert is exposed to tax risks in many jurisdictions. On the one hand, the application of tax law in the different jurisdictions can be complex and requires judgement to assess risk and estimate outcomes, which is a major source of uncertainty. On the other hand, tax authorities of the jurisdictions conduct regular tax audits that may reveal potential tax issues. As the tax audits can take many years to resolve, this further adds to the uncertainty. While the outcome of such tax audits is not certain, Bekaert has considered the merits of its filing positions of the matters subject to each tax audit in an overall evaluation of potential tax liabilities, and concludes that the Group has adequate liabilities recorded in its consolidated financial statements for
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| Disclosure of trade and other payables [text block] |
6.8. Operating working capital
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| Disclosure of trading income (expense) [text block] |
Hedging
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