COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE COURT OF AUDITORS ANNUAL ACCOUNTS OF THE EUROPEAN COMMISSION 2014
Date: 2015-07-23
Institutions: Directorate-General for Budget, European Commission
Subjects: European Commission, budgetary control, financial year

EN 

   EN 

   EUROPEAN COMMISSION  Brussels, 23.7.2015  COM(2015) 376 final   COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE COURT OF AUDITORS  ANNUAL ACCOUNTS OF THE EUROPEAN COMMISSION 2014  
 
 
Annual accounts of the 

European Commission 2014 

 
 
 
 
 
 
CONTENTS 

CERTIFICATION OF THE ACCOUNTS .................................................................... 3 

FINANCIAL STATEMENTS AND EXPLANATORY NOTES ............................................ 4 

BALANCE SHEET ............................................................................................ 6 

STATEMENT OF FINANCIAL PERFORMANCE ....................................................... 7 

CASHFLOW STATEMENT ................................................................................. 8 

STATEMENT OF CHANGES IN NET ASSETS ........................................................ 9 

NOTES TO THE FINANCIAL STATEMENTS ........................................................ 10 

REPORTS ON THE IMPLEMENTATION OF THE BUDGET AND EXPLANATORY NOTES ... 50 

 
 
 
  
 
CERTIFICATION OF THE ACCOUNTS 

The annual accounts of  the European  Commission for  the year 2014 have  been  prepared in  accordance 
with the Financial Regulation applicable to the general budget of the European Union and the accounting 
rules adopted by myself in my capacity as the Commission's Accounting Officer, as are to be applied by 
all the institutions and Union bodies. 

I  acknowledge  my  responsibility  for  the  preparation  and  presentation  of  the  annual  accounts  of  the 
European Commission in accordance with Article 68 of the Financial Regulation. 

I have obtained from the authorising officers, who certified its reliability, all the information necessary for 
the  production  of  the  accounts  that  show  the  European  Commission's  assets  and  liabilities  and  the 
budgetary implementation. 

I hereby certify that based on this information, and on such checks as I deemed necessary to sign off the 
accounts,  I  have  a  reasonable  assurance  that  the  accounts  present  fairly,  in  all  material  aspects,  the 
financial position, the results of the operations and the cash-flow of the European Commission. 

[signed] 

Manfred Kraff 

Accounting Officer of the Commission 

13 July 2015 

3 

 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

EUROPEAN COMMISSION 
FINANCIAL YEAR 2014 

FINANCIAL STATEMENTS AND 
EXPLANATORY NOTES 

It should be noted that due to the rounding of figures into millions of euros, some financial data in the 
tables below may appear not to add-up.

4 

 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

CONTENTS 

BALANCE SHEET ............................................................................................... 6 

STATEMENT OF FINANCIAL PERFORMANCE .......................................................... 7 

CASHFLOW STATEMENT .................................................................................... 8 

STATEMENT OF CHANGES IN NET ASSETS ........................................................... 9 

NOTES TO THE FINANCIAL STATEMENTS ........................................................... 10 

1.SIGNIFICANT ACCOUNTING POLICIES ......................................................... 11 

2.NOTES TO THE BALANCE SHEET ................................................................. 23 

3.NOTES TO THE STATEMENT OF FINANCIAL PERFORMANCE ............................. 35 

4.CONTINGENT ASSETS & LIABILITIES AND OTHER SIGNIFICANT DISCLOSURES . 42 

5.FINANCIAL INSTRUMENTS DISCLOSURES .................................................... 44 

6.RELATED PARTIES .................................................................................... 48 

7.EVENTS AFTER THE BALANCE SHEET DATE .................................................. 49 

5 

 
 
 
 
Annual accounts of the European Commission 2014 

BALANCE SHEET 

Note 

31.12.2014 

31.12.2013 

 EUR millions 

NON-CURRENT ASSETS 
Intangible assets 
Property, plant and equipment 
Investments accounted for using the equity method 
Financial assets 
Pre-financing 
Exchange receivables and non-exchange recoverables 

CURRENT ASSETS 
Financial assets 
Pre-financing 
Exchange receivables and non-exchange recoverables 
Inventories 
Cash and cash equivalents  

TOTAL ASSETS 

NON-CURRENT LIABILITIES 
Pension and other employee benefits 
Provisions 
Financial liabilities 

CURRENT LIABILITIES 
Provisions 
Financial liabilities 
Payables 
Accrued charges and deferred income 

TOTAL LIABILITIES 

NET ASSETS 

Reserves 
Amounts to be called from Member States* 
NET ASSETS 

2.1 
2.2 
2.3 
2.4 
2.5 
2.6 

2.4 
2.5 
2.6 
2.7 
2.8 

2.9 
2.10 
2.11 

2.10 
2.11 
2.12 
2.13 

2.14 
2.15 

 109 
4 799 
 409 
55 027 
18 184 
1 230 

 78 
2 888 
 349 
58 490 
37 995 
 529 

79 758 

100 329 

11 134 
34 347 
14 192 
 82 
16 187 

75 942 
155 700 

(58 045) 
(1 378) 
(50 932) 

4 821 
21 189 
13 007 
 85 
8 275 

47 377 
147 706 

(46 103) 
(1 303) 
(55 406) 

(110 355) 

(102 812) 

 (734) 
(8 783) 
(42 986) 
(55 575) 

(108 078) 
(218 433) 

 (489) 
(3 124) 
(36 015) 
(55 881) 

(95 509) 
(198 321) 

(62 733) 

(50 615) 

2 641 
(65 374) 
(62 733) 

2 298 
(52 913) 
(50 615) 

* The European Parliament  adopted a budget on 17 December 2014 which  provides for the payment of 
the  Commission's  short-term  liabilities  from  own  resources  to  be  collected  by,  or  called  up  from,  the 
Member States in 2015. Additionally, under article 83 of the Staff Regulations (Council Regulation 259/68 
of 29 February 1968 as amended), the Member States shall jointly guarantee the liability for pensions. 

6 

 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

STATEMENT OF FINANCIAL PERFORMANCE 

Note 

2014 

2013     

(reclassified) 

EUR millions 

REVENUE 
Revenue from non-exchange transactions 
GNI resources 
Traditional own resources 
VAT 
Fines 
Recovery of expenses 
Other 
Total 
Revenue from exchange transactions 
Financial income 
Other 
Total 

EXPENSES * 
Implemented by Member States 

European Agricultural Guarantee Fund 
European Agricultural Fund for Rural Development and 
other rural development instruments 
European Regional Development Fund &         
Cohesion Fund 
European Social Fund 
Other 

3.1 

3.2 
3.3 

3.4 
3.5 

3.6 

Implemented by the Commission and executive agencies 
Implemented by other EU agencies and bodies 
Implemented by third countries and int. organisations 
Implemented by other entities 
Staff and pension costs 
Changes in employee benefits actuarial assumptions 
Finance costs 
Share of net deficit of joint ventures and associates 
Other expenses 

3.7 
3.8 
3.8 
3.8 
3.9 

3.10 

3.11 

ECONOMIC RESULT OF THE YEAR 

* 
Implemented by Member States: Shared management 

104 688 
17 137 
17 462 
2 297 
3 418 
1 936 
146 938 

2 241 
 797 
3 039 

110 194 
15 467 
14 019 
2 757 
1 764 
 520 
144 721 

1 926 
 965 
2 891 

149 977 

147 613 

(44 465) 
(14 046) 

(45 067) 
(13 585) 

(43 345) 

(47 767) 

(12 651) 
(2 307) 
(15 328) 
(1 362) 
(2 770) 
(1 799) 
(7 357) 
(9 052) 
(2 877) 
 (640) 
(3 204) 

(12 126) 
(1 525) 
(12 486) 
(1 017) 
(2 465) 
(1 694) 
(6 845) 
(1 941) 
(2 327) 
 (608) 
(2 844) 

(161 203) 
(11 226) 

(152 298) 
(4 685) 

Implemented by the Commission and executive agencies: Direct management 

Implemented by other EU agencies and bodies, third countries, international organisations and other 
entities: Indirect management 

7 

 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

CASHFLOW STATEMENT 

Note 

2014 
(11 226) 

EUR millions 

2013 
(4 685) 

 15 
 164 
– 
(1 241) 
6 653 
(1 886) 

 4 
11 942 

 321 
1 185 
6 971 
 (306) 

(1 005) 
 112 

(2 120) 

 (60) 

 9 
 139 
 6 
 30 
(1 547) 
 980 

 0 
4 483 

 (160) 
 (81) 
(12 195) 
14 664 

(1 023) 
 (17) 

 (566) 

 42 

(1 610) 

(1 082) 

7 912 

(1 003) 

7 912 
8 275 
16 187 

(1 003) 
9 278 
8 275 

Economic result of the year 
Operating activities 
Amortisation 
Depreciation 
(Reversal of) impairment losses on investments 
(Increase)/decrease in loans 
(Increase)/decrease in pre-financing 
(Increase)/decrease in exchange receivables and           
non-exchange recoverables 
(Increase)/decrease in inventories 
Increase/(decrease) in pension and employee benefits 
liability 
Increase/(decrease) in provisions 
Increase/(decrease) in financial liabilities 
Increase/(decrease) in payables 
Increase/(decrease) in accrued charges and deferred 
income 
Prior year budgetary surplus taken as non-cash revenue 
Other non-cash movements 

Investing activities 
(Increase)/decrease in intangible assets and property, 
plant and equipment  
(Increase)/decrease in investments accounted for using 
the equity method 
(Increase)/decrease in available for sale financial assets 

NET CASHFLOW 

Net increase/(decrease) in cash and cash equivalents 
Cash and cash equivalents at the beginning of the year 
Cash and cash equivalents at year-end 

2.8 
2.8 

8 

 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STATEMENT OF CHANGES IN NET ASSETS 

Annual accounts of the European Commission 2014 

Reserves (A) 

Amounts to be called from          

Member States (B) 

BALANCE AS AT 31.12.2012 
Movement in Guarantee Fund reserve 
Fair value movements 
Other 
Allocation of the 2012 economic result 
2012 budget result credited to Member States 
Economic result of the year 
BALANCE AS AT 31.12.2013 
Movement in Guarantee Fund reserve 
Fair value movements 
Other 
Allocation of the 2013 economic result 
2013 budget result credited to Member States 
Economic result of the year 
BALANCE AS AT 31.12.2014 

Accumulated 
Surplus/(Deficit) 
(42 142) 
 (46) 
- 
 (9) 
(5 008) 
(1 023) 
- 
(48 228) 
 (247) 
– 
 18 
(4 685) 
(1 005) 
– 
(54 147) 

Economic result of 
the year 

(5 008) 
- 
- 
- 
5 008 
- 
(4 685) 
(4 685) 

– 
– 
4 685 
– 
(11 226) 
(11 226) 

Fair value reserve  Other reserves 

2 158 
 46 
- 
 11 
- 
- 
- 
2 215 
 247 
– 
 (24) 
– 
– 
– 
2 438 

 96 
- 
 (13) 
- 
- 
- 
- 
 83 
– 
 119 
– 
– 
– 
– 
 202 

9 

EUR millions 

Net Assets 
=(A)+(B) 

(44 896) 
- 
 (13) 
 2 
- 
(1 023) 
(4 685) 
(50 616) 
– 
 119 
 (6) 
– 
(1 005) 
(11 226) 
(62 734) 

 
  
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

NOTES TO THE FINANCIAL STATEMENTS 

For further information in addition to the notes below, please also see the 2014 EU consolidated 
accounts. 

10 

 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

1. 

SIGNIFICANT ACCOUNTING POLICIES 

The European Commission (hereinafter referred to as the Commission) applies the accounting policies of 
the  European  Union  (hereinafter  referred  to  as  the  EU).  A  summary  of  the  significant  EU  accounting 
policies is given below. 

1.1.  LEGAL BASIS AND ACCOUNTING RULES 

The  accounts  of  the  EU  are  kept  in  accordance  with  Regulation  (EU,  Euratom)  No  966/2012  of  the 
European  Parliament  and  of  the  Council  of  25  October  2012  on  the  financial  rules  applicable  to  the 
general  budget  of  the  Union  and  repealing  Council  Regulation  (EC,  Euratom)  No  1605/2002  (OJ  L  298, 
26.10.2012,  p.  1)  hereinafter  referred  to  as  the  'Financial  Regulation'  and  Commission  Delegated 
Regulation  (EU)  No  1268/2012  of  29  October  2012  (OJ  L  362,  31.12.2012,  p.  1)  laying  down  detailed 
rules of application of this Financial Regulation. 

In accordance with article 143 of the Financial Regulation, the EU prepares its financial statements on the 
basis  of  accrual-based  accounting  rules  that  are  based  on  International  Public  Sector  Accounting 
Standards (IPSAS). These accounting rules, adopted by the Accounting Officer of the Commission, have 
to  be  applied  by  all  the  institutions  and  EU  bodies  falling  within  the  scope  of  consolidation  in  order  to 
establish a uniform set of rules for accounting, valuation and presentation of the accounts with a view to 
harmonising the process for drawing up the financial statements and consolidation. The accounts are kept 
in Euro on the basis of the calendar year. 

1.2.  ACCOUNTING PRINCIPLES 

The  objective  of  the  financial  statements  is  to  provide  information  about  the  financial  position, 
performance  and  cashflows  of  an  entity  that  is  useful  to  a  wide  range  of  users.  For  the  EU  as  a  public 
sector entity, the objectives are more specifically to provide information useful for decision making, and 
to demonstrate the accountability of the entity for the resources entrusted to it. It is with these goals in 
mind that the present document has been drawn up.  

The  overall  considerations  (or  accounting  principles)  to  be  followed  when  preparing  the  financial 
statements are laid down in EU accounting rule 2 and are the same as those described in IPSAS 1, that 
is:  fair  presentation,  accrual  basis,  going  concern,  consistency  of  presentation,  aggregation,  offsetting 
and comparative information. The qualitative characteristics of financial reporting according to article 144 
of the Financial Regulation are relevance, reliability, understandability and comparability. 

Preparation  of  the  financial  statements  in  accordance  with  the  above  mentioned  rules  and  principles 
requires management to make estimates that affect the reported amounts of certain items in the balance 
sheet and statement of financial performance, as well as the disclosures related to financial instruments 
and contingent assets and liabilities. 

1.3.  CONSOLIDATION 

SCOPE OF CONSOLIDATION 

The  consolidated  financial  statements  of  the  EU  comprise  all  significant  controlled  entities  (i.e.  the  EU 
institutions (including the Commission) and the EU agencies), associates and joint ventures, this being 52 
controlled  entities,  7  joint  ventures  and  1  associate.  The  complete  list  of  consolidated  entities  can  be 
found  in  note  10  of  the  EU  accounts.  In  comparison  with  2013,  the  scope  of  consolidation  remains 
unchanged,  noting  that  1  associate  has  now  been  reclassified  as  a  joint  venture  and  following  the 
amalgamation of 2 other associates the resulting entity has been classified as a joint venture. 

CONTROLLED ENTITIES 

The decision to include an entity in the scope of consolidation is based on the control concept. Controlled 
entities are all entities over which the EU has, directly or indirectly, the power to govern the financial and 
operating policies so as to be able to benefit from these entities' activities. This power must be presently 

11 

 
Annual accounts of the European Commission 2014 

exercisable. Controlled entities are fully consolidated. The consolidation begins at the first date on which 
control exists, and ends when such control no longer exists. 

The most common indicators of control within the EU are: creation of the entity through founding treaties 
or secondary legislation, financing of the entity from the general budget, the existence of voting rights in 
the  governing  bodies,  audit  by  the  Court  and  discharge  by  the  European  Parliament.  It  is  clear  that  an 
individual  assessment  for  each  entity  needs  to  be  made  in  order  to  decide  whether  one  or  all  of  the 
criteria listed above are sufficient to trigger control. 

Under  this  approach,  the  EU's  institutions  (except  the  European  Central  Bank  -  ECB)  and  agencies 
(excluding the agencies of the former 2nd pillar) are considered as under the exclusive control of the EU 
and  are  therefore  included  in  the  consolidation  scope.  Furthermore  the  European  Coal  and  Steel 
Community (ECSC) in Liquidation is also considered as a controlled entity.  

All material inter-company transactions and balances between EU controlled entities are eliminated, while 
unrealised gains and losses on such transactions are not material and so have not been eliminated. 

JOINT VENTURES 

A joint venture is a contractual arrangement whereby the EU and one or more parties (the "venturers") 
undertake an economic activity which is subject to joint control. Joint control is the contractually agreed 
sharing  of  control,  directly  or  indirectly,  over  an  activity  embodying  service  potential.  Participations  in 
joint ventures are accounted for using the equity method (see 1.5.4 below). 

ASSOCIATES 

Associates are entities over which the EU has, directly or indirectly, significant influence but not control. 
It is presumed that significant influence exists if the EU holds directly or indirectly 20 % or more of the 
voting rights. Participations in associates are accounted for using the equity method (see 1.5.4 below). 

NON-CONSOLIDATED ENTITIES THE FUNDS OF WHICH ARE MANAGED BY THE COMMISSION 

The funds of the Sickness Insurance Scheme for staff of the EU, the European Development Fund and the 
Participants  Guarantee  Fund  are  managed  by  the  Commission  on  their  behalf,  however  since  these 
entities are not controlled by the EU they are not consolidated in its financial statements. 

1.4.  BASIS OF PREPARATION 

1.4.1.  Currency and basis for conversion 

Functional and reporting currency 

The  financial  statements  are  presented  in  millions  of  euros,  the  euro  being  the  EU's  functional  and 
reporting currency. 

Transactions and balances 

Foreign currency transactions are translated into euros using the exchange rates prevailing at the dates 
of the transactions. Foreign exchange gains and losses resulting from the settlement of foreign currency 
transactions  and  from  the  translation  at  year-end  exchange  rates  of  monetary  assets  and  liabilities 
denominated in foreign currencies are recognised in the statement of financial performance. 

Different conversion methods apply to property, plant and equipment and intangible assets, which retain 
their value in euros at the rate that applied at the date when they were purchased. 

Year-end balances of monetary assets and liabilities denominated in foreign currencies are converted into 
euros on the basis of the exchange rates applying on 31 December: 

12 

 
 
 
Annual accounts of the European Commission 2014 

Euro exchange rates 
Currency 
BGN 
CZK 
DKK 
GBP 
HRK 
HUF 
LVL 

31.12.2014 
1.9558 
27.7350 
7.4453 
0.7789 
7.6580 
315.5400 
- 

31.12.2013 
1.9558 
27.4270 
7.4593 
0.8337 
7.6265 
297.0400 
0.7028 

Currency 
LTL 
PLN 
RON 
SEK 
CHF 
JPY 
USD 

31.12.2014 
3.4528 
4.2732 
4.4828 
9.3930 
1.2024 
145.2300 
1.2141 

31.12.2013 
3.4528 
4.1543 
4.4710 
8.8591 
1.2276 
144.7200 
1.3791 

Changes  in  the  fair  value  of  monetary  financial  instruments  denominated  in  a  foreign  currency  and 
classified  as  available  for  sale  that  relate  to  a  translation  difference  are  recognised  in  the  statement  of 
financial performance. Translation differences on non-monetary financial assets and liabilities held at fair 
value  through  profit  or  loss  are  recognised  in  the  statement  of  financial  performance.  Translation 
differences on non-monetary financial instruments classified as available for sale are included in the fair 
value reserve. 

1.4.2.  Use of estimates 

In  accordance  with  IPSAS  and  generally  accepted  accounting  principles,  the  financial  statements 
necessarily  include  amounts  based  on  estimates  and  assumptions  by  management  based  on  the  most 
reliable information available. Significant estimates include, but are not limited to; amounts for employee 
benefit  liabilities,  provisions,  financial  risk  on  inventories  and  accounts  receivable,  accrued  income  and 
charges,  contingent  assets  and  liabilities,  degree  of  impairment of  intangible assets  and  property,  plant 
and equipment and amounts disclosed in the notes concerning financial instruments. Actual results could 
differ  from  those  estimates.  Changes  in  estimates  are  reflected  in  the  period  in  which  they  become 
known. 

1.5.  BALANCE SHEET 

1.5.1. 

Intangible assets 

Acquired  computer  software  licences  are  stated  at  historical  cost  less  accumulated  amortisation  and 
impairment  losses.  The  assets  are  amortised  on  a  straight-line  basis  over  their  estimated  useful  lives. 
The estimated useful lives of intangible assets depend on their specific economic lifetime or legal lifetime 
determined  by  an  agreement.  Internally  developed  intangible  assets  are  capitalised  when  the  relevant 
criteria of the EU accounting rules are met and relate solely to the development phase of the asset. The 
costs  capitalisable  include  all  directly  attributable  costs  necessary  to  create,  produce,  and  prepare  the 
asset to be capable of operating in the manner intended by management. Costs associated with research 
activities,  non-capitalisable  development  costs  and  maintenance  costs  are  recognised  as  expenses  as 
incurred. 

1.5.2. 

Property, plant and equipment 

All  property,  plant  and  equipment  are  stated  at  historical  cost  less  accumulated  depreciation  and 
impairment  losses.  Historical  cost  includes  expenditure  that  is  directly  attributable  to  the  acquisition, 
construction or transfer of the asset. 

Subsequent  costs  are  included  in  the  asset’s  carrying  amount  or  recognised  as  a  separate  asset,  as 
appropriate,  only  when  it  is  probable  that  future  economic  benefits  or  service  potential  associated  with 
the  item  will  flow  to  the  EU  and  its  cost  can  be  measured  reliably.  Repairs  and  maintenance  costs  are 
charged to the statement of financial performance during the financial period in which they are incurred. 

Land  and  works  of  art  are  not  depreciated  as  they  are  deemed  to  have  an  indefinite  useful  life.  Assets 
under  construction  are  not  depreciated  as  these  assets  are  not  yet  available  for  use.  Depreciation  on 
other  assets  is  calculated  using  the  straight-line  method  to  allocate  their  cost  less  their  residual  values 
over their estimated useful lives, as follows: 

13 

 
 
 
 
Annual accounts of the European Commission 2014 

Type of asset 
Buildings 
Plant and equipment 
Furniture and vehicles 
Fixtures and fittings 
Computer hardware 
Other 

Straight line depreciation rate 

4 % to 10 % 
10 % to 25 % 
10 % to 25 % 
10 % to 33 % 
25 % to 33 % 
10 % to 33 % 

Gains  or  losses  on  disposals  are  determined  by  comparing  proceeds  less  selling  expenses  with  the 
carrying amount of the disposed asset and are included in the statement of financial performance. 

Leases 

Leases  of  tangible  assets,  where  the  EU  has  substantially  all  the  risks  and  rewards  of  ownership,  are 
classified as finance leases. Finance leases are capitalised at the inception of the lease at the lower of the 
fair value of the leased asset and the present value of the minimum lease payments. Each lease payment 
is  allocated  between  the  liability  and  finance  charges  so  as  to  achieve  a  constant  rate  on  the  finance 
balance  outstanding.  The  rental  obligations,  net  of  finance  charges,  are  included  in  financial  liabilities 
(non-current  and  current).  The  interest  element  of  the  finance  cost  is  charged  to  the  statement  of 
financial  performance  over  the  lease  period  so  as  to  produce  a  constant  periodic  interest  rate  on  the 
remaining  balance  of  the  liability  for  each  period.  The  assets  held  under  finance  leases  are  depreciated 
over the shorter of the assets' useful life and the lease term. 

Leases where the lessor retains a significant portion of the risks and rewards inherent to ownership are 
classified  as  operating  leases.  Payments  made  under  operating  leases  are  charged  to  the  statement  of 
financial performance on a straight-line basis over the period of the lease. 

1.5.3. 

Impairment of non-financial assets 

Assets  that  have  an  indefinite  useful  life  are  not  subject  to  amortisation/depreciation  and  are  tested 
annually  for  impairment.  Assets  that  are  subject  to  amortisation/depreciation  are  reviewed  for 
impairment whenever events or changes in circumstances indicate that the carrying amount may not be 
recoverable.  An  impairment  loss  is  recognised  for  the  amount  by  which  the  asset’s  carrying  amount 
exceeds  its  recoverable  (service)  amount.  The  recoverable  (service)  amount  is  the  higher  of  an  asset’s 
fair value less costs to sell and its value in use. 

Intangible  assets  and  property,  plant  and  equipment  residual  values  and  useful lives  are  reviewed,  and 
adjusted if appropriate, at least once per year. An asset’s carrying amount is written down immediately 
to  its  recoverable  (service)  amount  if  the  asset’s  carrying  amount  is  greater  than  its  estimated 
recoverable  (service)  amount.  If  the  reasons  for  impairments  recognised  in  previous  years  no  longer 
apply, the impairment losses are reversed accordingly. 

1.5.4. 

Investments accounted for using the equity method 

Participations in associates and joint ventures 

Participations in associates and joint ventures are accounted for using the equity method and are initially 
recognised at cost. The EU's interest in the results of its associates and joint ventures is recognised in the 
statement  of  financial  performance,  and  its  share  in  the  movements  in  reserves  is  recognised  in  the 
reserves.  The  initial  cost  together  with  all  movements  (further  contributions,  share  of  economic  results 
and  reserve  movements,  impairments,  and  dividends)  give  the  book  value  of  the  associate  or  joint 
venture in the financial statements at the balance sheet date. Distributions received from an associate or 
joint venture reduce the carrying amount of the asset. 

If the EU's share of deficits of a joint venture equals or exceeds its interest in the joint venture, the EU 
discontinues  recognising  its  share  of  further  losses  ("unrecognised  losses").  The  unrecognised  share  of 
losses  is  the  result  of  a  technical  accounting  exercise  needed  when  using  the  equity  method  of 
accounting. These unrecognised losses do not represent losses for the EU and are due to the fact that the 
expense  recognition  normally  takes  place  before  the  capital  increase  for  the  contribution  in  kind  of  the 
venturers other than the EU.  

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Unrealised  gains  and  losses  on  transactions  between  the  EU  and  its  associate  or  joint  ventures  are  not 
material and have therefore not been eliminated. The accounting policies of associates or joint ventures 
may differ from those adopted by the EU for like transactions and events in similar circumstances. 

If  there are indications of impairment, a write-down  to the lower  recoverable amount is necessary.  The 
recoverable  amount  is  determined  as  described  under  1.5.3.  If  the  reason  for  impairment  ceases  to 
apply  at  a  later  date,  the  impairment  loss  is  reversed  to  the  carrying  amount  that  would  have  been 
determined had no impairment loss been recognised. 

In  cases  where  the  EU  holds  20  %  or  more  of  an  investment  capital  fund,  it  does  not  seek  to  exert 
significant  influence.  Such  funds  are  therefore  treated  as  financial  instruments  and  categorised  as 
available for sale financial assets. 

1.5.5. 

Financial assets 

Classification 

The  EU  classifies  their  financial  assets  in  the  following  categories:  financial  assets  at  fair  value  through 
profit or loss; loans and receivables; held-to-maturity investments; and available for sale financial assets. 
The classification of the financial instruments is determined at initial recognition and re-evaluated at each 
balance sheet date. 

(i)  Financial assets at fair value through profit or loss 

A financial asset is classified in this category if acquired principally for the purpose of selling in the short 
term  or  if  so  designated  by  the  EU.  Derivatives  are  also  categorised  in  this  category.  Assets  in  this 
category  are  classified  as  current  assets  if  they  are  expected  to  be  realised  within  12  months  of  the 
balance sheet date. During this financial year, the EU did not hold any financial assets in this category. 

(ii)  Loans and receivables 

Loans  and  receivables  are  non-derivative  financial  assets  with  fixed  or  determinable  payments  that  are 
not quoted in an active market. They arise when the EU provides money, goods or services directly to a 
debtor  with  no  intention  of  trading  the  receivable.  They  are  included  in  non-current  assets,  except  for 
maturities within 12 months of the balance sheet date even if the maturity date of the entire loan dates 
more than 12 months from the balance sheet date. 

(iii) Held-to-maturity investments 

Held-to-maturity  investments  are  non-derivative  financial  assets  with  fixed  or  determinable  payments 
and  fixed  maturities  that  the  EU  has  the  positive  intention  and  ability  to  hold  to  maturity.  During  this 
financial year, the EU did not hold any investments in this category.  

(iv) Available for sale financial assets 

Available  for  sale  financial  assets  are  non-derivatives  that  are  either  designated  in  this  category  or  not 
classified  in  any  of  the  other  categories.  They  are  classified  as  either  current  or  non-current  assets, 
depending on the time period in which the EU expects to dispose of them which is usually the remaining 
maturity at the balance sheet date. Investments in unconsolidated entities and other equity investments 
(e.g.  Risk  Capital  Operations)  that  are  not  accounted  for  using  the  equity  method  are  also  classified  as 
available for sale financial assets. 

Initial recognition and measurement 

Purchases and sales of financial assets at fair value through profit or loss, held-to-maturity and available 
for sale are recognised on trade-date – the date on which the EU commits to purchase or sell the asset. 
Loans  are  recognised  when  cash  is  advanced  to  the  borrowers.  Financial  instruments  are  initially 
recognised at fair value. For all financial assets not carried at fair value through profit or loss transactions 
costs are added to the fair value at initial recognition. Financial assets carried at fair value through profit 
or  loss  are  initially  recognised  at  fair  value  and  transaction  costs  are  expensed  in  the  statement  of 
financial performance. 

The fair value of a financial asset on initial recognition is normally the transaction price (i.e. the fair value 
of  the  consideration  received).  However,  when  a  long-term  loan  that  carries  no  interest  or  an  interest 

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below market conditions is granted, its fair value can be estimated as the present value of all future cash 
receipts  discounted  using  the  prevailing  market  rate  of  interest  for  a  similar  instrument  with  a  similar 
credit rating. 

Loans  granted  are  measured  at  their  nominal  amount,  which  is  considered  to  be  the  fair  value  of  the 
loan. The reasoning for this is as follows: 

- 

- 

- 

The “market environment” for EU lending is very specific and different from the capital market used 
to  issue  commercial  or  government  bonds.  As  lenders  in  these  markets  have  the  opportunity  to 
choose  alternative  investments,  the  opportunity  possibility  is  factored  into  market  prices.  However, 
this opportunity for alternative investments does  not exist for  the EU which is not allowed to invest 
money on the capital markets; it only borrows funds for the purpose of lending at the same rate. This 
means  that  there  is  no  alternative  lending  or  investment  option  available  to  the  EU  for  the  sums 
borrowed. Thus, there is no opportunity cost and therefore no basis of comparison with market rates. 
In fact, the EU lending operation itself represents the market. Essentially, since the opportunity cost 
"option"  is  not  applicable,  the  market  price  does  not  fairly  reflect  the  substance  of  the  EU  lending 
transactions. Therefore, it is not appropriate to determine the fair value of EU lending with reference 
to commercial or government bonds. 

Furthermore as there is no active market or similar transactions to compare with, the interest rate to 
be  used  by  the  EU  for  fair  valuing  its  lending  operations  under  the  European  Financial  Stability 
Mechanism  (EFSM),  Balance  of  Payment  (BOP)  and  other  such  loans,  should  be  the  interest  rate 
charged. 

In  addition,  for  these  loans,  there  are  compensating  effects  between  loans  and  borrowings  due  to 
their back-to-back character. Thus, the effective interest for the loan equals the effective interest rate 
for  the  related  borrowings.  The  transaction  costs  incurred  by  the  EU  and  then  recharged  to  the 
beneficiary of the loan are directly recognised in the statement of financial performance. 

Financial instruments are derecognised when the rights to receive cashflows from the investments have 
expired  or  have  been  transferred  and  the  EU  has  transferred  substantially  all  risks  and  rewards  of 
ownership. 

Subsequent measurement 
(i)  Financial assets at fair value through profit or loss are subsequently carried at fair value. Gains and 
losses arising from changes in the fair value of the ‘financial instruments at fair value through profit 
or  loss’  category  are  included  in  the  statement  of  financial  performance  in  the  period  in  which  they 
arise. 

(ii)  Loans  and  receivables  and  held-to-maturity  investments  are  carried  at  amortised  cost  using  the 
effective interest method. In the case of loans granted on borrowed funds, the same effective interest 
rate is applied to both the loans and borrowings since these loans have the characteristics of 'back-
to-back operations' and the differences between the loan and the borrowing conditions and amounts 
are not material.  The transaction  costs incurred  by the EU  and then recharged to the beneficiary  of 
the loan are directly recognised in the statement of financial performance. 
(iii) Held to maturity – the EU currently holds no held to maturity investments. 
(iv) Available for sale financial assets are subsequently carried at fair value. Gains and losses arising from 
changes in the fair value of available for sale financial assets are recognised in the fair value reserve. 
When  assets  classified  as  available  for  sale  financial  assets  are  derecognised  or  impaired,  the 
cumulative  fair  value  adjustments  previously  recognised  in  the  fair  value  reserve  are  recognised  in 
the statement of financial performance. Interest on available for sale financial assets calculated using 
the  effective  interest  method  is  recognised  in  the  statement  of  financial  performance.  Dividends  on 
available  for  sale  equity  instruments  are  recognised  when  the  EU's  right  to  receive  payment  is 
established. 

The fair values of quoted investments in active markets are based on current bid prices. If the market for 
a  financial  asset  is  not  active  (and  for  unlisted  securities),  the  EU  establishes  a  fair  value  by  using 
valuation  techniques.  These  include  the  use  of  recent  arm’s  length  transactions,  reference  to  other 
instruments  that  are  substantially  the  same,  discounted  cashflow  analysis,  option  pricing  models  and 
other valuation techniques commonly used by market participants.  

In  cases  where  the  fair  value  of  investments  in  equity  instruments  that  do  not  have  a  quoted  market 
price  in  an  active  market  cannot  be  reliably  measured,  these  investments  are  valued  at  cost  less 
impairment losses. 

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Impairment of financial assets 

The EU assesses at each balance sheet date whether there is objective evidence that a financial asset is 
impaired.  A  financial  asset  is  impaired  and  impairment  losses  are  incurred  if,  and  only  if,  there  is 
objective  evidence  of  impairment  as  a  result  of  one  or  more  events  that  occurred  after  the  initial 
recognition of the asset and that loss event (or events) has an impact on the estimated future cashflows 
of the financial asset that can be reliably estimated. 

(a) 

Assets carried at amortised cost 

If  there  is  objective  evidence  that  an  impairment  loss  on  loans  and  receivables  or  held-to-maturity 
investments  carried  at  amortised  cost  has  been  incurred,  the  amount  of  the  loss  is  measured  as  the 
difference  between  the  asset’s  carrying  amount  and  the  present  value  of  estimated  future  cashflows 
(excluding  future  credit  losses  that  have  not  been  incurred)  discounted  at  the  financial  asset’s  original 
effective  interest  rate.  The  carrying  amount  of  the  asset  is  reduced  and  the  amount  of  the  loss  is 
recognised  in  the  statement  of  financial  performance.  If  a  loan  or  held-to-maturity  investment  has  a 
variable  interest  rate,  the  discount  rate  for  measuring  any  impairment  loss  is  the  current  effective 
interest rate determined under the contract. The calculation of the present value of the estimated future 
cashflows  of  a  collateralised  financial  asset  reflects  the  cashflows  that  may  result  from  foreclosure  less 
costs for obtaining and selling the collateral, whether or not foreclosure is probable. If, in a subsequent 
period,  the amount of  the  impairment loss decreases  and  the decrease can  be related objectively to an 
event  occurring  after  the  impairment  was  recognised,  the  previously  recognised  impairment  loss  is 
reversed through the statement of financial performance. 

(b) 

Assets carried at fair value 

In  the  case  of  equity  investments  classified  as  available  for  sale  financial  assets,  a  significant  or 
permanent (prolonged) decline in the fair value of the security below its cost is considered in determining 
whether the securities are impaired. If any such evidence exists for available for sale financial assets, the 
cumulative loss – measured as the difference between the acquisition cost and the current fair value, less 
any  impairment  loss  on  that  financial  asset  previously  recognised  in  the  statement  of  financial 
performance  –  is  removed  from  reserves  and  recognised  in  the  statement  of  financial  performance. 
Impairment  losses  recognised  in  the  statement  of  financial  performance  on  equity  instruments  are  not 
reversed through the statement of financial  performance. If, in a subsequent period, the fair value of a 
debt  instrument  classified  as  available  for  sale  financial  asset  increases  and  the  increase  can  be 
objectively related to an event occurring after the impairment loss was recognised, the impairment loss is 
reversed through the statement of financial performance. 

Investments in venture capital funds 

Investments in Venture Capital Funds are classified as available for sale financial assets and, accordingly, 
are carried at fair value with gains and losses arising from changes in the fair value (including translation 
differences)  recognised  in  the  fair  value  reserve.  Since  they  do  not  have  a  quoted  market  price  in  an 
active  market,  investments  in  Venture  Capital  Funds  are  valued  on  a  line-by-line  basis  at  the  lower  of 
cost  or  attributable  net  asset  value.  Unrealised  gains  resulting  from  the  fair  value  measurement  are 
recognised  through  reserves  and  unrealised  losses  are  assessed  for  impairment  so  as  to  determine 
whether  they  are  recognised  as  impairment  losses  in  the  statement  of  financial  performance  or  as 
changes in the fair value reserve. 

1.5.6. 

Inventories 

Inventories are stated at the lower of cost and net realisable value. Cost is determined using the first-in, 
first-out (FIFO) method. The cost of finished goods and work in progress comprises raw materials, direct 
labour,  other  directly  attributable  costs  and  related  production  overheads  (based  on  normal  operating 
capacity). Net realisable value is the estimated selling price in the ordinary course of business, less the 
costs of completion and selling expenses. When inventories are held for distribution at no charge or for a 
nominal  charge,  they  are  measured  at  the  lower  of  cost  and  current  replacement  cost.  Current 
replacement cost is the cost the EU would incur to acquire the asset on the reporting date. 

1.5.7. 

Pre-financing amounts 

Pre-financing is a payment intended to provide the beneficiary with a cash advance, i.e. a float. It may be 
split into a number of payments over a period defined in the particular pre-financing agreement. The float 
or advance is repaid or used for the purpose for which it was provided during the period defined in the 

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agreement. If the beneficiary does not incur eligible expenditure, he has the obligation to return the pre-
financing advance to the EU. The amount of the pre-financing may be reduced (wholly or partially) by the 
acceptance of eligible costs (which are recognised as expenses) and amounts returned. 

At year-end, outstanding pre-financing amounts are valued at the original amount(s) paid less: amounts 
returned, eligible amounts expensed, estimated eligible amounts not yet cleared at year-end, and value 
reductions. 

Amounts  defined  in  the  Financial  Regulation  as  "financial  instruments  under  shared  management"  are 
from  an  accounting  point  of  view  classified  as  pre-financing  amounts.  These  pre-financing  amounts  are 
valued at the original amounts paid to Member States less an estimation of amounts utilised. 

Interest  on  pre-financing is  recognised  as  it is  earned  in  accordance  with  the  provisions of  the  relevant 
agreement. An estimate of the accrued interest revenue, based on the most reliable information, is made 
at the year-end and included in the balance sheet. 

1.5.8.  Exchange receivables and non-exchange recoverables 

As the EU accounting rules require a separate presentation of exchange and non-exchange transactions, 
for  the  purpose  of  drawing  up  the  accounts,  receivables  are  defined  as  stemming  from  exchange 
transactions and recoverables are defined as stemming from non-exchange transactions that do not arise 
out of a contract (sovereign recoverables). 

Receivables  from  exchange  transactions  meet  the  definition  of  financial  instruments  and  are  thus 
classified  as  loans  and  receivables  and  measured  accordingly  (see  1.5.5  above).  The  financial 
instruments notes disclosures concerning receivables from exchange transactions include accrued income 
and deferred charges from exchange transactions as they are not material. 

Recoverables  from  non-exchange  transactions  are  carried  at  original  amount  (adjusted  for  interest  and 
penalties)  less  write-down  for  impairment.  A  write-down  for  impairment  of  recoverables  from  
non-exchange transactions is established when there is objective evidence that the EU will not be able to 
collect all amounts due according to the original terms of recoverables from non-exchange transactions. 
The amount of the write-down is the difference between the asset’s carrying amount and the recoverable 
amount. The amount of the write-down is recognised in the statement of financial performance. A general 
write-down, based on past experience, is also made for outstanding recovery orders not already subject 
to  a  specific  write-down.  See  note  1.5.14  below  concerning  the  treatment  of  accrued  income  at  
year-end.  Amounts  displayed  and  disclosed  as  recoverables  from  non-exchanges  transactions  are  not 
financial  instruments  as  they  do  not  arise  from  a  contract.  However,  in  the  notes  to  the  financial 
statements  recoverables  from  non-exchange  transactions  are  disclosed  together  with  receivables  from 
exchange transactions where appropriate. 

1.5.9.  Cash and cash equivalents 

Cash  and  cash  equivalents  are  financial instruments  and  classified  as  available  for  sale  financial  assets. 
They  include  cash  at  hand,  deposits  held  at  call  with  banks  and  other  short-term  highly  liquid 
investments with original maturities of three months or less. 

1.5.10.  Pension and other employee benefits 

Pension obligations 

The EU operates defined benefit pension plans. Whilst staff contribute from their salaries one third of the 
expected cost of these benefits, the liability is not funded. The liability recognised in the balance sheet in 
respect  of  defined  benefit  pension  plans  is  the  present  value  of  the  defined  benefit  obligation  at  the 
balance  sheet  date.  The  defined  benefit  obligation  is  calculated  by  actuaries  using  the  projected  unit 
credit  method.  The  present  value  of  the  defined  benefit  obligation  is  determined  by  discounting  the 
estimated  future  cash  outflows  using  interest  rates  of  government  bonds  that  are  denominated  in  the 
currency in which the benefits will be paid, and that have terms to maturity approximating to the terms 
of the related pension liability. 

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are 
recognised  immediately  in  the  statement  of  financial  performance.  Past-service  costs  are  recognised 

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immediately  in  statement  of  financial  performance,  unless  the  changes  to  the  pension  plan  are 
conditional on the employees remaining in service for a specified period of time (the vesting period). In 
this case, the past-service costs are amortised on a straight-line basis over the vesting period. 

Post-employment sickness benefits 

The  EU  provides  health  benefits  to  its  employees  through  the  reimbursement  of  medical  expenses.  A 
separate  fund  has  been  created  for  its  day-to-day  administration.  Both  current  employees,  pensioners, 
widowers  and  their  beneficiaries  benefit  from  the  system.  The  benefits  granted  to  the  "inactives" 
(pensioners,  orphans,  etc.)  are classified as "Post-Employment Employee Benefits".  Given  the nature of 
these  benefits,  an actuarial  calculation is required.  The liability  in the balance sheet is determined on  a 
similar basis as that for the pension obligations (see above). 

1.5.11.  Provisions 

Provisions are recognised when the EU has a present legal or constructive obligation towards third parties 
as a result of past events, it is more likely than not that an outflow of resources will be required to settle 
the  obligation,  and  the  amount  can  be  reliably  estimated.  Provisions  are  not  recognised  for  future 
operating  losses.  The  amount  of  the  provision  is  the  best  estimate  of  the  expenses  expected  to  be 
required  to  settle  the  present  obligation  at  the  reporting  date.  Where  the  provision  involves  a  large 
number  of  items,  the  obligation  is  estimated  by  weighting  all  possible  outcomes  by  their  associated 
probabilities (“expected value” method). 

1.5.12.  Financial liabilities 

Financial  liabilities  are  classified  as  financial  liabilities  at  fair  value  through  profit  or  loss  or  as  financial 
liabilities carried at amortised  cost. Borrowings are composed of borrowings from credit institutions and 
debts evidenced by certificates. They are recognised initially at fair value, being their issue proceeds (fair 
value of consideration received) net of transaction costs incurred, then subsequently carried at amortised 
cost using the effective interest method; any difference between proceeds, net of transaction costs, and 
the  redemption  value  is  recognised  in  the  statement  of  financial  performance  over  the  period  of  the 
borrowings using the effective interest method.  

Financial liabilities are classified as non-current liabilities, except for maturities less than 12 months after 
the  balance  sheet  date.  In  the  case  of  loans  granted  on  borrowed  funds,  the  effective  interest  method 
may not be applied to loans and borrowings, based on materiality considerations. The transaction costs 
incurred  by  the  EU  and  then  recharged  to  the  beneficiary  of  the  loan  are  directly  recognised  in  the 
statement of financial performance. 

Financial liabilities categorised at fair value through profit or loss include derivatives when their fair value 
is negative. They follow the same accounting treatment as financial assets at fair value through profit or 
loss,  see  note  1.5.5.  During  this  financial  year,  the  EU  did  not  hold  any  financial  liabilities  in  this 
category. 

1.5.13.  Payables 

A  significant  amount  of  the  payables  of  the  EU  are  not  related  to  exchange  transactions  such  as  the 
purchase of goods or services – instead they are unpaid cost claims from beneficiaries of grants or other 
EU funding (non-exchange transactions). They are recorded as payables for the requested amount when 
the cost claim is received. Upon verification and acceptance of the eligible costs, the payables are valued 
at the accepted and eligible amount. 

Payables  arising  from  the  purchase  of  goods  and  services  are  recognised  at  invoice  reception  for  the 
original  amount  and  corresponding  expenses  are  entered  in  the  accounts  when  the  supplies  or  services 
are delivered and accepted by the EU. 

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1.5.14.  Accrued and deferred income and charges 

Transactions and events are recognised in the financial statements in the period to which they relate. At 
year-end,  if  an  invoice  is  not  yet  issued  but  the  service  has  been  rendered,  the  supplies  have  been 
delivered by the EU or a contractual agreement exists (e.g. by reference to a treaty), an accrued income 
will  be  recognised  in  the  financial  statements.  In  addition,  at  year-end,  if  an  invoice  is  issued  but  the 
services have not yet been rendered or the goods supplied have not yet been delivered, the revenue will 
be deferred and recognised in the subsequent accounting period. 

Expenses are also accounted for in the period to which they relate. At the end of the accounting period, 
accrued expenses are recognised based on an estimated amount of the transfer obligation of the period. 
The  calculation  of  accrued  expenses  is  done  in  accordance  with  detailed  operational  and  practical 
guidelines  issued  by  the  Commission  which  aim  at  ensuring  that  the  financial  statements  provide  a 
faithful representation of the economic and other phenomena they purport to represent. 

1.6.  STATEMENT OF FINANCIAL PERFORMANCE 

1.6.1.  Revenue 

REVENUE FROM NON-EXCHANGE TRANSACTIONS 

The vast majority of the EU's revenue relates to non-exchange transactions: 

GNI based resources and VAT resources 

Revenue is recognised for the period for which the Commission sends out a call for funds to the Member 
States claiming their contribution. They are measured at their “called amount”. As VAT and GNI resources 
are based on estimates of  the data for  the budgetary  year concerned,  they  may  be revised as changes 
occur until the final data are issued by the Member States. The effect of a change in estimate is included 
when determining the net surplus or deficit for the period in which the change occurred. 

Traditional own resources 

Recoverables  from  non-exchange  transactions  and  related  revenues  are  recognised  when  the  relevant 
monthly  "A"  statements  (including  duties  collected  and  amounts  due  that  are  guaranteed  and  not 
contested) are received from the Member States. At the reporting date, revenue collected by the Member 
States for the period but not yet paid to the Commission is estimated and recognised as accrued income. 
The  quarterly  "B"  statements  (including  duties  neither  collected  nor  guaranteed,  as  well  as  guaranteed 
amounts  that  have  been  contested  by  the  debtor)  received  from  the  Member  States  are  recognised  as 
revenue less the collection costs to which they are entitled. In addition, a value reduction is recognised 
for the amount of the estimated recovery gap. 

Fines 

Revenue  from  fines  is  recognised  when  the  EU's  decision  imposing  a  fine  has  been  taken  and  it  is 
officially  notified  to  the  addressee.  If  there  are  doubts  about  the  undertaking's  solvency,  a  value 
reduction  on  the  entitlement  is  recognised.  After  the  decision  to  impose  a  fine,  the  debtors  have  two 
months from the date of notification: 

- 

- 

either to accept the decision, in which case they must pay the fine within the time limit laid down and 
the amount is definitively collected by the EU; 

or not to accept the decision, in which case they lodge an appeal under EU law.  

However,  even  if  appealed,  the  principal  of  the  fine  must  be  paid  within  the  time limit of  three  months 
laid down as the appeal does not have suspensory effect (Article 278 of the EU Treaty) or, under certain 
circumstances  and  subject  to  the  agreement  of  the  Commission's  Accounting  Officer,  it  may  present  a 
bank guarantee for the amount instead. 

If the undertaking appeals against the decision, and has already provisionally paid the fine, the amount is 
disclosed  as  a  contingent  liability.  However,  since  an  appeal  against  an  EU  decision  by  the  addressee 
does  not  have  suspensory  effect,  the  cash  received  is  used  to  clear  the  recoverable.  If  a  guarantee  is 

20 

 
 
Annual accounts of the European Commission 2014 

received instead of payment, the fine remains as a recoverable. If it appears probable that the General 
Court  may  not  rule in  favour  of  the  EU,  a  provision  is  recognised  to  cover  this  risk.  If  a guarantee  had 
been  given  instead,  then  the  recoverable  outstanding  is  written-down  as  required.  The  accumulated 
interest  received  by  the  Commission  on  the  bank  accounts  where  received  payments  are  deposited  is 
recognised as revenue, and any contingent liability is increased accordingly. 

Since 2010, all provisionally cashed fines are managed by the Commission in a specifically created fund 
(BUFI) and invested in financial instruments categorised as available for sale financial assets. 

REVENUE FROM EXCHANGE TRANSACTIONS 

Revenue  from  the  sale  of  goods  and  services  is  recognised  when  the  significant  risk  and  rewards  of 
ownership of the goods are transferred to the purchaser. Revenue associated with a transaction involving 
the provision of services is recognised by reference to the stage of completion of the transaction at the 
reporting date. 

Interest income and expense 

Interest income and expense are recognised in the statement of financial performance using the effective 
interest  method.  This  is  a  method  of  calculating  the  amortised  cost  of  a  financial  asset  or  a  financial 
liability  and  of  allocating  the  interest  income  or  interest  expense  over  the  relevant  period.  When 
calculating the effective interest rate, the EU estimates cashflows considering all contractual terms of the 
financial  instrument  (for  example,  prepayment  options)  but  does  not  consider  future  credit  losses.  The 
calculation  includes  all  fees  and  points  paid  or  received  between  parties  to  the  contract  that  are  an 
integral part of the effective interest rate, transaction costs and all other premiums or discounts. 

Once  a  financial  asset  or  a  group  of  similar  financial  assets  has  been  written  down  as  a  result  of  an 
impairment loss, interest income is recognised using the rate of interest to discount the future cashflows 
for the purpose of measuring the impairment loss. 

Dividend income 

Dividend income is recognised when the right to receive payment is established. 

1.6.2.  Expenses 

Expenses from non-exchange transactions account for the majority of the EU's expenses. They relate to 
transfers  to  beneficiaries  and  can  be  of  three  types:  entitlements,  transfers  under  agreement  and 
discretionary grants, contributions and donations. 

Transfers  are  recognised  as  expenses  in  the  period  during  which  the  events  giving  rise  to  the  transfer 
occurred,  as  long  as  the  nature  of  the  transfer  is  allowed  by  regulation  (Financial  Regulation,  Staff 
Regulations, or other regulation) or an agreement has been signed authorising the transfer; any eligibility 
criteria have been met by the beneficiary; and a reasonable estimate of the amount can be made. 

When a request for payment or cost claim is received and meets the recognition criteria, it is recognised 
as  an  expense  for  the  eligible  amount.  At  year-end,  incurred  eligible  expenses  due  to  the  beneficiaries 
but not yet reported are estimated and recorded as accrued expenses. 

Expenses  from  exchange  transactions  arising  from  the  purchase  of  goods  and  services  are  recognised 
when the supplies are delivered and accepted by the EU. They are valued at original invoice cost.  

1.7.  CONTINGENT ASSETS AND LIABILITIES 

1.7.1.  Contingent assets 

A  contingent  asset  is  a  possible  asset  that  arises  from  past  events  and  of  which  the  existence  will  be 
confirmed  only  by  the  occurrence  or  non-occurrence  of  one  or  more  uncertain  future  events  not  wholly 
within  the  control  of  the  EU.  A  contingent  asset  is  disclosed  when  an  inflow  of  economic  benefits  or 
service potential is probable. 

21 

 
Annual accounts of the European Commission 2014 

1.7.2.  Contingent liabilities 

A contingent liability is a possible obligation that arises from past events and of which the existence will 
be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly 
within  the  control  of  the  EU;  or  a  present  obligation  that  arises  from  past  events  but  is  not  recognised 
because: it is not probable that an outflow of resources embodying economic benefits or service potential 
will be required to settle the obligation or, in the rare circumstances where the amount of the obligation 
cannot be measured with sufficient reliability. 

22 

 
 
Annual accounts of the European Commission 2014 

2.  NOTES TO THE BALANCE SHEET 

ASSETS

2.1.  INTANGIBLE ASSETS 

Gross carrying amount at 31.12.2013 
Additions 
Disposals 
Transfer between asset categories 
Other changes 
Gross carrying amount at 31.12.2014 
Accumulated amortisation at 31.12.2013 
Amortisation charge for the year 
Disposals 
Transfer between asset categories 
Other changes 
Accumulated amortisation at 31.12.2014 
Net carrying amount at 31.12.2014 
Net carrying amount at 31.12.2013 

EUR millions 

 135 
 45 
 (1) 
 1 
 1 
 182 
 (57) 
 (15) 
 1 
 (1) 
 (1) 
 (72) 
 109 
 78 

23 

 
 
 
 
 
 
 
2.2.  PROPERTY, PLANT AND EQUIPMENT 

Annual accounts of the European Commission 2014 

Gross carrying amount at 31.12.2013 
Additions 
Disposals 
Transfer between asset categories 
Other changes 
Gross carrying amount at 31.12.2014 
Accumulated depreciation at 31.12.2013 
Depreciation charge for the year 
Depreciation written back 
Disposals 
Transfer between asset categories 
Other changes 
Accumulated depreciation at 31.12.2014 

Land and 
buildings 
1 277 
 16 
 (3) 
 76 
 2 
1 368 
 (697) 
 (35) 
- 
 2 
- 
0 
 (731) 

Plant and 
equipment 
 344 
 317 
 (12) 
 58 
 1 
 708 
 (271) 
 (38) 
- 
 12 
0 
0 
 (298) 

NET CARRYING AMOUNT AT 31.12.2014 
NET CARRYING AMOUNT AT 31.12.2013 

 637 
 579 

 411 
 73 

Furniture and 
vehicles  

Computer 
hardware 

Other 

Finance 
leases  

 69 
 4 
 (3) 
- 
 1 
 72 
 (51) 
 (4) 
- 
 3 
- 
 (1) 
 (54) 

 18 
 18 

 229 
 24 
 (18) 
 7 
 3 
 245 
 (189) 
 (23) 
- 
 18 
 (7) 
 (1) 
 (202) 

 44 
 40 

 124 
 12 
 (6) 
0 
 1 
 130 
 (91) 
 (10) 
- 
 6 
0 
0 
 (96) 

 34 
 33 

1 515 
 6 
0 
 (8) 
- 
1 514 
 (552) 
 (53) 
- 
0 
 7 
- 
 (597) 

 917 
 963 

Assets under 
construction 
1 182 
1 691 
- 
 (134) 
 1 
2 739 

2 739 
1 182 

EUR millions 

TOTAL 

4 739 
2 069 
 (42) 
 (1) 
 10 
6 776 
(1 851) 
 (164) 
- 
 40 
 1 
 (3) 
(1 978) 

4 799 
2 888 

24 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

2.3.  INVESTMENTS ACCOUNTED FOR USING THE EQUITY 

METHOD 

Participations in joint ventures 
Participations in associates 
Total 

2.3.1. 

Participations in joint ventures 

Note 
2.3.1 
2.3.2 

31.12.2014 
– 
 409 
 409 

EUR millions 

31.12.2013 
– 
 349 
 349 

Participations at 31.12.2013 
Contributions 
Share of net result 
Other equity movements 
Participations at 31.12.2014 
Unrecognised share of loss 

GJU 
 0 
 0 
 0 
 0 
 0 
– 

SESAR 
 0 
 95 
 (95) 
 0 
 0 
 (230) 

ITER  Clean Sky 
 0 
 125 
 (125) 
 0 
 0 
 (99) 

 0 
 118 
 (118) 
 0 
 0 
 (36) 

IMI 
 0 
 166 
 (166) 
 0 
 0 
 (73) 

ECSEL 
 0 
 75 
 (75) 
 0 
 0 
 (40) 

EUR millions 
Total 
 0 
 647 
 (647) 
 (0) 
 (0) 
 (594) 

FCH 
 0 
 69 
 (69) 
 0 
 0 
 (116) 

The  following  carrying  amounts  are  attributable  to  the  Commission  based  on  its  percentage  of 
participation: 

Non-current assets 
Current assets 
Non-current liabilities 
Current liabilities 
Revenue 
Expenses 

2.3.2. 

Participations in associates 

Participations at 31.12.2013 
Contributions 
Share of net result 
Other equity movements 
Participations at 31.12.2014 

31.12.2014 
 250 
 178 
– 
 (813) 
 2 
 (666) 

EUR millions 
31.12.2013 
 198 
 63 
– 
 (394) 
 1 
 (412) 

EUR millions 
EIF 
 349 
 38 
 7 
 15 
 409 

The  following  carrying  amounts  are  attributable  to  the  Commission  based  on  its  percentage  of 
participation: 

Assets 
Liabilities 
Revenue 
Surplus/(deficit) 

European Investment Fund 

Total share capital 
Paid-in 
Uncalled 

31.12.2014 
 497 
 (87) 
 38 
 21 

Total EIF capital 

4 161 
 (832) 
3 329 

EUR millions 
31.12.2013 
 499 
 (240) 
 37 
 (221) 

EUR millions 
Commission 
subscription 
1 011 
 (202) 
 809 

25 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
Annual accounts of the European Commission 2014 

2.4.  FINANCIAL ASSETS 

Note 

31.12.2014 

31.12.2013 

EUR millions 

Non-current financial assets 
Available for sale financial assets 
Loans 

Total 

Current financial assets 
Available for sale financial assets 
Loans 

Total 
Total 

2.4.1 
2.4.2 

2.4.1 
2.4.2 

5 356 
49 671 

55 027 

2 351 
8 783 

11 134 
66 161 

2.4.1. 

 Available for sale financial assets 

Guarantee Fund for external actions* 
BUFI investments 
Risk Sharing Finance Facility (RSFF) 
ETF Start up 
European Bank for Reconstruction and Development (EBRD) 
Risk Capital Operations 
Loan Guarantee Instrument for TEN-T projects (LGTT) 
Horizon 2020 
European Fund for South East Europe 
Project Bond Initiative 
Other available for sale investments 
Total 
Non-current 
Current 

31.12.2014 
1 825 
3 068 
 842 
 399 
 188 
 145 
 186 
 514 
 117 
 125 
 298 
7 707 
5 356 
2 351 

4 367 
54 123 

58 490 

1 730 
3 090 

4 821 
63 311 

EUR millions 
31.12.2013 
1 773 
1 911 
1 197 
 339 
 188 
 124 
 120 
– 
 116 
 67 
 262 
6 097 
4 367 
1 730 

 *  The  Guarantee  Fund  holds  EFSM  bonds  (EUR  20  million)  issued  by  the  Commission,  so  these  have 
been eliminated 

Fair value hierarchy of available for sale financial assets: 

Level 1: Quoted prices in active markets 
Level 2: Observable inputs other than quoted prices 
Level 3: Valuation techniques with inputs not based on 
observable market data 
Total 

31.12.2014 
6 499 
 61 
1 147 

EUR millions 
31.12.2013 
4 911 
 61 
1 125 

7 707 

6 097 

Reconciliation  of  financial  assets  measured  using  valuation  techniques  with  inputs  not  based  on 
observable market data (level 3): 

Opening balance at 31.12.2013 
Purchases and sales 
Gains or losses for the period in surplus or deficit 
Gains or losses in net assets 
Transfers into level 3  
Transfers out of level 3  
Other 
Closing balance at 31.12.2014 

26 

EUR millions 

1 126 
 (57) 
 (2) 
 81 
– 
– 
 (1) 
1 147 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

2.4.2. 

 Loans 

Non-current 
Current 
Total 

31.12.2014 
49 671 
8 783 
58 454 

EUR millions 
31.12.2013 
54 123 
3 090 
57 213 

Loans granted from borrowed funds 

Total at 31.12.2013 
New loans 
Repayments 
Exchange differences 
Changes in carrying amount 
Impairment 
Total at 31.12.2014 
Non-current 
Current 

MFA 
 569 
1 360 
 (96) 
- 
 9 
- 
1 842 
1 762 
 80 

Euratom 
 387 
- 
 (39) 
 1 
– 
- 
 349 
 299 
 50 

BOP 
11 623 
- 
(3 000) 
- 
 (33) 
- 
8 590 
5 700 
2 890 

EFSM 
44 468 
3 000 
- 
- 
 39 
- 
47 507 
41 800 
5 707 

EUR millions 
Total 
57 047 
4 360 
(3 135) 
 1 
 15 
– 
58 288 
49 561 
8 727 

Loans effective interest rates (expressed as a range of interest rates) 
Loans 
Macro Financial Assistance (MFA) 
Euratom 
Balance of Payment (BOP) 
European Financial Stability Mechanism (EFSM) 

31.12.2014 
0.181%-4.54% 
0.26%-5.76% 
2.375%-3.625% 
1.875%-3.750% 

31.12.2013 
0.27%-4.54% 
0.34%-5.76% 
2.375%-3.625% 
2.375%-3.750% 

2.4.2.1.  Balance of Payments 

BOP Nominal value 

Total loans granted 
Disbursed at 31.12.2013 
Disbursed in 2014 
Loans disbursed 31.12.2014 
Loans repaid at 31.12.2014 
Outstanding amount at 31.12.2014 

Hungary 
6 500 
5 500 
– 
5 500 
(4 000) 
1 500 

Latvia 
3 100 
2 900 
– 
2 900 
(1 000) 
1 900 

Romania 
8 400 
5 000 
– 
5 000 
– 
5 000 

2.4.2.2.  European Financial Stabilisation Mechanism 

EFSM Nominal value 

Total loans granted 
Disbursed at 31.12.2013 
Disbursed in 2014 
Loans disbursed at 31.12.2014 
Loans repaid at 31.12.2014 
Loans outstanding at 31.12.2014 

Ireland 
22 500 
21 700 
800 
22 500 
– 
22 500 

Portugal 
26 000 
22 100 
2 200 
24 300 
– 
24 300 

EUR millions 
Total 
18 000 
13 400 
– 
13 400 
(5 000) 
8 400 

EUR millions 

Total 
48 500 
43 800 
3 000 
46 800 
– 
46 800 

27 

 
 
 
 
  
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

2.5.  PRE-FINANCING 

Non-current pre-financing 
Pre-financing 
Other advances to Member States 

Total 

Current pre-financing 
Pre-financing 
Other advances to Member States 

Total 
Total 

2.5.1. 

Pre-financing 

Note 

31.12.2014 

31.12.2013 

EUR millions 

2.5.1 
2.5.2 

2.5.1 
2.5.2 

15 806 
2 378 

18 184 

29 332 
5 015 

34 347 
52 531 

34 742 
3 253 

37 995 

16 225 
4 963 

21 189 
59 184 

Shared Management 

EAFRD & other rural 
development instruments 
ERDF & CF 
ESF 
Other 

Direct Management 
Implemented by:  
Commission 
EU executive agencies 

Indirect Management 

Implemented by: 

Other EU agencies & bodies 
Third countries 
International organisations 
Other entities 

Total 
Non-current 
Current 

Gross 
amount 

Cleared 
via cut-off 

Net amount 
at 
31.12.2014 

Gross 
amount 

Cleared 
via cut-off 

EUR millions 
Net amount 
at 
31.12.2013 

5 644 

(2 115) 

3 528 

6 359 

(1 032) 

5 327 

24 934 
6 884 
4 626 

(2 182) 
 (953) 
(2 535) 

22 752 
5 931 
2 091 

25 701 
6 857 
4 191 

(2 164) 
 (492) 
(2 054) 

23 537 
6 365 
2 137 

13 376 
9 079 

(10 407) 
(6 618) 

2 969 
2 461 

14 854 
8 729 

(9 467) 
(5 271) 

5 387 
3 458 

1 862 
1 981 
6 236 
4 369 

(1 487) 
(1 169) 
(3 476) 
(2 910) 
78 991  (33 853) 
– 
15 806 
(33 853) 
63 185 

 375 
 812 
2 760 
1 460 

(1 165) 
1 284 
 (782) 
1 678 
(2 460) 
4 172 
(3 487) 
5 515 
45 138  79 341  (28 374) 
34 742 
15 806 
– 
(28 374) 
44 600 
29 332 

 118 
 897 
1 712 
2 028 
50 967 
34 742 
16 225 

2.5.2.  Other advances to Member States 

Advances to Member States for financial instruments 
under shared management 
Non-current 
Current 
Total 
Aid Schemes 
Non-current 
Current 
Total 
Total 

31.12.2014 

EUR millions 
31.12.2013 

2 090 
1 733 
3 823 

 288 
3 282 
3 570 
7 393 

2 118 
2 118 
4 236 

1 135 
2 845 
3 981 
8 216 

28 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

2.6.  EXCHANGE RECEIVABLES & NON-EXCHANGE 

RECOVERABLES 

Non-current 
Recoverables from non-exchange transactions 
Receivables from exchange transactions 

Total 

Current 
Recoverables from non-exchange transactions 
Receivables from exchange transactions 

Total 
Total 

Note 

31.12.2014 

31.12.2013 

EUR millions 

2.6.1 
2.6.2 

2.6.1 
2.6.2 

1 201 
 29 

1 230 

13 831 
 361 

14 192 
15 422 

 526 
 4 

 529 

12 521 
 486 

13 007 
13 536 

2.6.1. 

 Recoverables from non-exchange transactions 

Non-current 
Member States 
Accrued income and deferred charges 
Other recoverables 

Total 

Current 
Member States 
Fines 
Accrued income and deferred charges 
Other recoverables 

Total 
Total 

Note 

31.12.2014 

31.12.2013 

EUR millions 

2.6.1.1 
2.6.1.2 

2.6.1.1 

2.6.1.2 

 305 
 853 
 43 

1 201 

10 623 
2 270 
 740 
 198 

13 831 
15 032 

 478 
– 
 48 

 526 

5 509 
4 071 
2 722 
 218 

12 521 
13 046 

2.6.1.1.  Recoverables from Member States 

Recoverables related to own resources: 
Established in the A account 
Established in the separate account 
Own resources to be received 
Impairment 
Other 
Own resource recoverables 
Recoverables in the area of agriculture and rural 
development: 
European Agricultural Guarantee Fund (EAGF) 
European Agricultural Fund for Rural Development (EAFRD) 
Temporary Rural Development Instrument (TRDI) 
Special Accession Programme for Agriculture and Rural 
Development (SAPARD) 
Impairment 
EAGF and rural development recoverables 
Pre-financing recovery expected 
VAT paid and recoverable 
Other recoverables from Member States 
Total 
Non-current 
Current 

29 

31.12.2014 

EUR millions 
31.12.2013 

2 789 
1 617 
5 413 
(1 144) 
 12 
8 686 

2 250 
 52 
 27 
 166 

 (840) 
1 655 
 437 
 16 
 134 
10 928 
 305 
10 623 

 47 
1 228 
3 054 
 (743) 
 6 
3 592 

2 294 
 82 
 45 
 155 

 (819) 
1 757 
 542 
 20 
 77 
5 987 
 478 
5 509 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

2.6.1.2. 

 Accrued income and deferred charges 

Own resources accrued income 
Cohesion, Agricultural & Rural Development Funds: financial 
corrections 
Other accrued income 
Deferred charges relating to non-exchange transactions 
Total 
Non-current 
Current 

2.6.2. 

 Receivables from exchange transactions 

Non-current 
Other receivables 
Total 
Current 
Customers 
Impairment on receivables from customers 
Deferred charges relating to exchange transactions 
Others 
Total 
Total 

2.7.  INVENTORIES 

Scientific materials 
Other 
Total 

31.12.2014 
– 
1 502 

 69 
 22 
1 593 
 853 
 740 

EUR millions 
31.12.2013 
2 424 
 31 

 201 
 66 
2 722 
– 
2 722 

31.12.2014 

EUR millions 
31.12.2013 

 29 
 29 

 160 
 (101) 
 146 
 157 
 361 
 390 

 4 
 4 

 329 
 (100) 
 150 
 107 
 486 
 490 

31.12.2014 
 66 
 15 
 82 

EUR millions 
31.12.2013 
 70 
 15 
 85 

2.8.  CASH AND CASH EQUIVALENTS 

Accounts with Treasuries and Central Banks 
Current accounts 
Imprest accounts 
Transfers (cash in transit) 
Other term deposits 
Bank accounts for budget implementation & other term 
deposits 
Cash belonging to financial instruments 
Cash relating to fines 
Total 

31.12.2014 
11 840 
 303 
 4 
– 
 28 
12 174 

1 275 
2 738 
16 187 

EUR millions 
31.12.2013 
2 505 
 168 
 4 
 (1) 
 29 
2 705 

1 406 
4 165 
8 275 

30 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

LIABILITIES

2.9.  PENSION AND OTHER EMPLOYEE BENEFITS 

Pensions – staff  
Pensions – other 
Joint Sickness Insurance Scheme 
Total 

2.9.1. 

Pensions – staff 

Actuarial assumptions - staff pension liability 
Nominal discount rate  
Expected inflation rate  
Real discount rate 
Probability of marriage: man/woman 
General salary growth/pension revaluation 
International Civil Servants Life Table (ICSLT) 

31.12.2014 
50 897 
 751 
6 396 
58 045 

31.12.2014 
2.0% 
1.3% 
0.7% 
81%/49% 
(0.2)% 
ICSLT 2013 

Movement in gross employee 
benefits liability 

Gross liability at previous year-end 
Transfers from other institutions 
Service/normal cost  
Interest cost 
Benefits paid 
Actuarial losses 
Change due to newcomers 
Gross liability at year-end 
Correction coefficients applied to 
pensions 
Deduction of taxes on pensions 
Plan assets 
Net liability at 31.12.2014 
Net liability at 31.12.2013 

Pensions - staff 

Pensions - other 

45 947 
- 
2 153 
1 683 
(1 368) 
8 255 
 461 
57 131 
1 371 

(7 605) 
N/A 
50 897 
40 933 

 345 
 303 
 61 
 25 
 (19) 
 82 
 67 
 864 
N/A 

 (113) 
N/A 
 751 
 301 

Employee benefits liability 

2010 
36 415 

2011 
34 138 

2012 
41 620 

2013 
46 103 

EUR millions 
31.12.2013 
40 933 
 301 
4 869 
46 103 

31.12.2013 
3.7% 
1.9% 
1.8% 
81%/49% 
(0.2)% 
ICSLT 2013 

EUR millions 

Joint Sickness 
Insurance 
Scheme 
5 133 
- 
- 
 49 
 (68) 
1 554 
- 
6 668 
N/A 

N/A 
 (272) 
6 396 
4 869 

EUR millions 
2014 
58 045 

EUR millions 

2.10.  PROVISIONS 

Amount at 
31.12.2013 

Additional 
provisions 

 481 
 963 

 282 
- 
 65 
1 792 
1 303 
 489 

 480 
- 

 117 
 30 
 16 
 642 
 85 
 557 

Legal cases 
Nuclear site 
dismantling 
Financial 
Fines 
Other 
Total 
Non-current 
Current 

Amounts 
used 

Transfer 
to current 

Change in 
estimation 

Amount at 
31.12.2014 

 (227) 
 (31) 

 (76) 
- 
 (20) 
 (354) 
 (12) 
 (343) 

- 
- 

- 
- 
- 
– 
 (69) 
 69 

0 
 159 

 9 
- 
- 
 168 
 164 
 4 

 638 
1 091 

 332 
 30 
 22 
2 113 
1 378 
 734 

Unused 
amounts 
reversed 
 (95) 
- 

0 
- 
 (40) 
 (135) 
 (93) 
 (41) 

31 

 
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

2.11.  FINANCIAL LIABILITIES 

Non-current financial liabilities 
Borrowings 
Other financial liabilities 

Total 

Current financial liabilities 
Borrowings 
Other financial liabilities 

Total 
Total 

2.11.1.  Borrowings 

Borrowings 
Elimination Guarantee Fund* 
Total 

Note 

31.12.2014 

31.12.2013 

EUR millions 

2.11.1 
2.11.2 

2.11.1 
2.11.2 

49 551 
1 381 

50 932 

8 716 
 66 

8 783 
59 714 

53 964 
1 442 

55 406 

3 064 
 60 

3 124 
58 530 

31.12.2014 
58 287 
 (20) 
58 267 

EUR millions 
31.12.2013 
57 048 
 (20) 
57 028 

*The Guarantee Fund holds EFSM bonds issued by the Commission, so these need to be eliminated. 

Borrowings by Financial Instrument 

Total at 31.12.2013 
New borrowings 
Repayments 
Exchange differences 
Changes in carrying amounts 
Total at 31.12.2014 
Non-current 
Current 

MFA 
 569 
1 360 
 (96) 
- 
 9 
1 842 
1 762 
 80 

Euratom 
 387 
- 
 (39) 
 1 
– 
 349 
 299 
 50 

BOP 
11 623 
- 
(3 000) 
- 
 (33) 
8 590 
5 700 
2 890 

EFSM 
44 468 
3 000 
- 
- 
 39 
47 507 
41 800 
5 707 

EUR millions 
Total 
57 047 
4 360 
(3 135) 
 1 
 15 
58 288 
49 561 
8 727 

Borrowings effective interest rates (expressed as a range of interest rates): 
31.12.2014 
Borrowings 
0.181%-4.54% 
Macro Financial Assistance (MFA) 
0.138%-5.6775% 
Euratom 
2.375%-3.625% 
Balance of Payment (BOP) 
1.875%-3.750% 
European Financial Stability Mechanism (EFSM) 

31.12.2013 
0.27%-4.54% 
0.291%-5.6775% 
2.375%-3.625% 
2.375%-3.750% 

2.11.2.  Other financial liabilities 

Non-current 
Finance lease liabilities 
Buildings bought on credit 
Other 
Total 
Current 
Finance lease liabilities 
Buildings bought on credit 
Other 
Total 
Total 

32 

31.12.2014 

EUR millions 
31.12.2013 

1 041 
 318 
 22 
1 381 

 48 
 17 
 1 
 66 
1 447 

1 084 
 336 
 23 
1 442 

 44 
 16 
 1 
 61 
1 503 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

Finance lease liabilities: 

Description 

Land and buildings 
Other tangible assets 
Total at 31.12.2014 
Interest element 
Total future minimum lease payments 
at 31.12.2014 
Total future minimum lease payments     
at 31.12.2013 

2.12.  PAYABLES 

EUR millions 

Future amounts to be paid 

< 1 year 
 42 
 6 
 48 
 61 
 109 

> 1 year 
 205 
 8 
 213 
 216 
 429 

> 5 years  Total Liability 
1 075 
 14 
1 089 
 569 
1 658 

 828 
– 
 828 
 293 
1 121 

 107 

 426 

1 227 

1 760 

2014 
Cost claims and invoices received from: 
Member States 

European Agricultural Fund for Rural 
Development & other rural 
development instruments 
European Regional Development Fund 
& Cohesion Fund 
European Social Fund 
Other 

Private and public entities 
Total costs claims & invoices 
received 
European Agricultural Guarantee Fund 
Own Resources Payables 
Sundry Payables 
Total at 31.12.2014 
2013 
Total costs claims & invoices 
received 
European Agricultural Guarantee Fund 
Own Resources Payables 
Sundry Payables 
Total at 31.12.2013 

Gross Amount 

Adjustments* 

Net Amount 

EUR millions 

 318 

 (23) 

 296 

19 928 

5 893 
 751 
1 718 
28 609 

11 066 
5 945 
 166 

(2 306) 

 (272) 
 (93) 
 (106) 
(2 800) 

N/A 
N/A 
N/A 

45 786 

(2 800) 

42 986 

27 304 

11 252 
 244 
 132 
38 932 

(2 918) 

N/A 
N/A 
N/A 
(2 918) 

17 623 

5 621 
 658 
1 612 
25 810 

11 066 
5 945 
 166 

24 386 

11 252 
 244 
 132 
36 015 

* Estimated non-eligible amounts and pending prepayments. 

2.13.  ACCRUED CHARGES AND DEFERRED INCOME 

Accrued charges 
Deferred income 
Other 
Total 

31.12.2014 
55 436 
 122 
 16 
55 575 

EUR millions 
31.12.2013 
55 725 
 138 
 18 
55 881 

33 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
  
 
 
Annual accounts of the European Commission 2014 

The split of accrued charges is as follows: 

European Agricultural Guarantee Fund 
European Agricultural Fund for Rural Development & other 
rural development instruments 
European Regional Development Fund and Cohesion Fund 
European Social Fund 
Other 
Total 

31.12.2014 
33 667 
13 414 

3 157 
 976 
4 222 
55 436 

EUR millions 
31.12.2013 
33 491 
12 458 

4 371 
1 109 
4 296 
55 725 

NET ASSETS 

2.14.  RESERVES 

Fair value reserve 
Guarantee Fund reserve 
Other reserves 
Total 

2.14.1.   Fair value reserve 

Note 
2.14.1 

31.12.2014 
 202 
2 372 
 66 
2 641 

EUR millions 

31.12.2013 
 83 
2 125 
 90 
2 299 

Movements of fair value reserve during the period 
Included in fair value reserve 
Included in statement of financial performance 
Total 

2014 
 107 
 (3) 
 104 

EUR millions 
2013 
 (13) 
– 
 (13) 

In  addition,  an  amount  of  EUR  15  million  in  the  overall  movement  of  the  fair  value  reserve  relates  to 
investments accounted for using the equity method. 

2.15.   AMOUNTS TO BE CALLED FROM MEMBER STATES 

Amounts to be called from Member States at 31.12.2013 
Return of 2013 budget surplus to Member States 
Movement in Guarantee Fund reserve 
Other reserve movements 
Economic result of the year 
Total amounts to be called from Member States at 31.12.2014 

EUR millions  

52 913 
1 005 
 247 
 (17) 
11 226 
65 374 

34 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

3.  NOTES TO THE STATEMENT OF FINANCIAL 

PERFORMANCE 

REVENUE 

REVENUE FROM NON-EXCHANGE TRANSACTIONS: TAXES 

3.1.  TRADITIONAL OWN RESOURCES 

Customs duties 
Sugar levies 
Total 

2014 
17 204 
 (67) 
17 137 

EUR millions 
2013 
15 268 
 199 
15 467 

REVENUE FROM NON-EXCHANGE TRANSACTIONS: 
TRANSFERS 

3.2.  RECOVERY OF EXPENSES 

Shared management 
Direct management 
Indirect management 
Decentralised management 
Joint management 
Total 

2014 
3 328 
 46 
 44 
– 
– 
3 418 

EUR millions 

2013 
1 628 
 55 
 6 
 41 
 33 
1 764 

3.3.  OTHER REVENUE FROM NON-EXCHANGE 

TRANSACTIONS 

Transfer of assets 
Budgetary adjustments 
Staff taxes and contributions 
Contribution of third countries 
Agricultural levies 
Adjustments/provisions 
Funding of institutions 
Other 
Total 

2014 
1 448 
 794 
 975 
 331 
 409 
 349 
(3 000) 
631 
1 936 

EUR millions 
2013 
– 
1 187 
 878 
 364 
 48 
 174 
(3 075) 
944 
 520 

35 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

REVENUE FROM EXCHANGE TRANSACTIONS 

3.4.  FINANCIAL INCOME 

Interest income on: 
Pre-financing 
Late payments 
Available for sale financial assets 
Loans 
Cash and cash equivalents 
Interest income 
Dividend income 
Realised gains on sale of financial assets 
Other financial income 
Total 

Net gains and losses on financial assets 

Net gains/(loss) on available for sale financial assets 

2014 

 16 
 387 
 47 
1 709 
 6 
2 165 
 6 
 9 
 61 
2 241 

2014 
 13 

EUR millions 
2013 

 29 
 88 
 45 
1 698 
 18 
1 878 
 6 
 3 
 40 
1 926 

EUR millions 
2013 
 3 

3.5.  OTHER REVENUE FROM EXCHANGE TRANSACTIONS 

Property, plant and equipment related revenue 
Foreign exchange gains 
Sales revenue 
Other 
Total 

EXPENSES 

2014 
 9 
 466 
 21 
 303 
 798 

EUR millions 
2013 
13 
 326 
 32 
 595 
 965 

TRANSFER PAYMENTS AND SUBSIDIES BY MANAGEMENT 
MODE 

3.6.  SHARED MANAGEMENT 

Implemented by Member States 
European Agricultural Guarantee Fund 
European Agricultural Fund for Rural Development & other 
rural development instruments 
European Regional Development Fund and Cohesion Fund 
European Social Fund 
Other 
Total 

2014 
44 465 
14 046 

43 345 
12 651 
2 307 
116 814 

EUR millions 
2013 
45 067 
13 585 

47 767 
12 126 
1 525 
120 070 

36 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

3.7. 

 DIRECT MANAGEMENT 

Implemented by the Commission 
Implemented by EU Executive Agencies 
Total 

3.8.  INDIRECT MANAGEMENT 

Implemented by other EU agencies & bodies 
Implemented by third countries 
Implemented by international organisations 
Implemented by other entities 
Total 

3.9.  STAFF AND PENSION COSTS 

Staff costs 
Pension costs 
Total 

3.10.  FINANCE COSTS 

Interest expenses: 
        Borrowings 
        Other  
Finance leases 
Impairment losses on available for sale financial assets 
Impairment loss on loans and receivables 
Realised loss on sale of financial assets 
Other finance costs 
Total 

3.11.  OTHER EXPENSES 

Adjustments/provisions 
Property, plant and equipment related expenses 
Foreign exchange losses 
Administrative and IT expenses 
Funding and contributions to other EU bodies 
Other 
Total 

2014 
10 447 
4 881 
15 328 

2014 
1 362 
1 005 
1 765 
1 799 
5 931 

2014 
3 161 
4 195 
7 357 

2014 

1 696 
 21 
 61 
 3 
1 030 
 17 
 49 
2 877 

2014 
 687 
 547 
 359 
 998 
 439 
 175 
3 204 

EUR millions 
2013 
8 688 
3 798 
12 486 

EUR millions 
2013 
1 017 
 720 
1 745 
1 694 
5 176 

EUR millions 
2013 
3 080 
3 765 
6 845 

EUR millions 
2013 

1 682 
 21 
 64 
 7 
 469 
 (0) 
 85 
2 327 

EUR millions 
2013 
 400 
 532 
 382 
1 059 
 436 
 36 
2 844 

Included under property, plant and equipment are operating leases expenses. Amounts committed to be 
paid during the remaining term of these lease contracts are as follows: 

Buildings 
IT materials and other equipment 
Total 

Future amounts to be paid 

< 1 year 
 124 
 3 
 127 

1- 5 years 
 429 
 4 
 433 

> 5 years 
 367 
– 
 367 

EUR millions 

Total 
 920 
 7 
 927 

37 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

Expenses relating to research and development are as follows: 

Research costs 
Non-capitalised development costs 
Total 

2014 
 353 
 54 
 406 

EUR millions  
2013 
 329 
 50 
 379 

38 

 
 
 
 
 
3.12.  SEGMENT REPORTING BY MULTI FINANCIAL FRAMEWORK HEADINGS 

Annual accounts of the European Commission 2014 

Smart and 
inclusive growth 

Sustainable 
growth 

Security and 
citizenship 

Global Europe 

Administration  Not assigned 
to MFF 
headings* 

GNI resources 
Traditional own resources 
VAT 
Fines 
Recovery of expenses 
Other 
Non-exchange revenue 
Financial income 
Other 
Exchange revenue 

Total revenue 

Expenses implemented by Member States: 
     EAGF 
     EAFRD & other rural development instruments 
     ERDF & CF 
     ESF 
     Other 
Implemented by the Commission and executive 
agencies 
Implemented by other EU agencies and bodies 
Implemented by third countries and international 
organisations 
Implemented by other entities 
Staff and pension costs 
Changes in employee benefits actuarial 
assumptions 
Finance costs 
Share of net deficit of joint ventures and 
associates 
Other expenses 

Total expenses 

Economic result of the year 

– 
– 
– 
– 
1 136 
1 981 
3 117 
 66 
 119 
 185 

3 302 

– 
– 
(43 345) 
(12 651) 
 (561) 
(9 809) 

 (792) 
 (246) 

(1 317) 
(1 538) 
– 

 (152) 
 (640) 

(1 397) 

(72 446) 

(69 144) 

– 
– 
– 
– 
2 226 
 508 
2 734 
 3 
 (11) 
 (8) 

2 726 

(44 465) 
(14 033) 
– 
– 
 (542) 
 (339) 

 (58) 
 4 

– 
 (324) 
– 

 (25) 
– 

 (60) 

(59 843) 

(57 117) 

– 
– 
– 
– 
 3 
 4 
 6 
 0 
 (4) 
 (4) 

 2 

– 
– 
– 
– 
(1 109) 
(1 114) 

 (473) 
 (8) 

 (5) 
 (362) 
– 

 (1) 
– 

– 
– 
– 
– 
 53 
 53 
 106 
 36 
 97 
 134 

 240 

– 
 (12) 
– 
– 
 (94) 
(4 046) 

 (40) 
(2 520) 

 (478) 
 (566) 
– 

 (26) 
– 

 (115) 

(3 189) 

(3 186) 

 (126) 

(7 908) 

(7 668) 

*Including off-budget operations and unallocated immaterial programmes. 

– 
– 
– 
– 
– 
 995 
 995 
 (1) 
 131 
 131 

1 126 

– 
– 
– 
– 
– 
 9 

– 
 (0) 

 (0) 
(4 566) 
(9 052) 

 (527) 
– 

(1 152) 

(15 289) 

(14 163) 

104 688 
17 137 
17 462 
2 297 
– 
(1 605) 
139 979 
2 136 
 465 
2 601 

142 580 

– 
– 
– 
– 
– 
 (29) 

– 
– 

 1 
– 
– 

(2 146) 
– 

 (354) 

(2 527) 

140 053 

EUR millions 

Total 

104 688 
17 137 
17 462 
2 297 
3 418 
1 936 
146 938 
2 241 
 798 
3 039 

149 977 

(44 465) 
(14 046) 
(43 345) 
(12 651) 
(2 307) 
(15 328) 

(1 362) 
(2 770) 

(1 799) 
(7 357) 
(9 052) 

(2 877) 
 (640) 

(3 204) 

(161 203) 

(11 226) 

39 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

3.13.  Reclassification of 2013 figures: 

So  as  to  better  present  information  to  the  users  of  these  accounts,  the  layout  of  the  statement  of  financial  performance  has  been  restructured  in  the  2014 
annual accounts. As required by the EU accounting rules, a reclassification of the 2013 figures is made, noting that no amounts have been changed, only the 
presentation  of  existing  figures  –  revenues,  expenses  and  the  result  remain  as  originally  published  in  the  2013  accounts.  An  overview  of  the  impact  of  the 
changes is given below: 

Own resource 
and 
contributions 
revenue 

Other 
operating 
revenue 

Total 
operating 
revenue 

Admini- 
strative 
expenses 

Operating 
expenses 

Total 
operating 
expenses 

Surplus from 
operating 
activities 

Financial 
revenue 

Financial 
expenses 

Share of net 
deficit of joint 
ventures and 
associates 

Movement 
pension and 
other 
employee 
benefits 
liability 

EUR millions 

Economic 
result of the 
year 

2013 
(reclassified) 

2013 (published) 
Non-exchange revenue 
GNI Resources 
Traditional own resources 
VAT 
Fines 
Recovery of expenses 
Other 
Total non-exchange 
revenue 

Exchange revenue 
Financial income 
Other  exchange revenue 
Total exchange revenue 
TOTAL REVENUE 

138 156 

7 484 

145 640 

(5 107)  (138 886)  (143 993) 

1 647 

1 972 

(1 990) 

(5 706) 

 (608) 

(4 685) 

110 194 
15 467 
14 019 
– 
– 
(1 524) 
138 156 

– 
– 
– 
2 757 
1 764 
2 044 
6 565 

110 194 
15 467 
14 019 
2 757 
1 764 
 520 
144 721 

– 
– 
– 
138 156 

– 
 919 
 919 
7 484 

– 
 919 
 919 
145 640 

– 
– 
– 
– 
– 
– 
– 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 

1 926 
 46 
1 972 
1 972 

– 
– 
– 
– 
– 
– 
– 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 

– 
– 
– 
– 

110 194 
15 467 
14 019 
2 757 
1 764 
 520 
144 721 

1 926 
 965 
2 891 
147 613 

40 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

Own resource 
and 
contributions 
revenue 

Other 
operating 
revenue 

Total 

Admini- 
strative 
expenses 

Operating 
expenses 

Total 
operating 
expenses 

Surplus from 
operating 
activities 

Financial 
revenue 

Financial 
expenses 

Share of net 
deficit of joint 
ventures and 
associates 

Movement 
pension and 
other 
employee 
benefits 
liability 

EUR millions 

Economic 
result of the 
year 

2013 
(reclassified) 

– 

– 

– 

– 
– 
– 

– 

– 

– 

– 
– 

– 
– 

– 
– 

– 

– 

– 

– 
– 
– 

– 

– 

– 

– 
– 

– 
– 

– 
– 

– 

– 

– 

– 
– 
– 

– 

– 

– 

– 
– 

– 
– 

– 
– 

– 

– 

(45 067) 

(45 067) 

(13 585) 

(13 585) 

– 

(47 767) 

(47 767) 

– 
– 
– 

– 

– 

– 

(12 126) 
(1 525) 
(12 486) 

(12 126) 
(1 525) 
(12 486) 

(1 017) 

(1 017) 

(2 465) 

(2 465) 

(1 694) 

(1 694) 

(3 080) 
– 

– 
– 

(3 080) 
– 

– 
– 

 (469) 
– 

 (469) 
– 

(2 713) 
(2 027) 
(5 107)  (138 886)  (143 993) 

 (686) 

– 

– 

– 

– 
– 
– 

– 

– 

– 

– 
– 

– 
– 

– 
– 

– 

– 

– 

– 
– 
– 

– 

– 

– 

– 
– 

– 
– 

– 
– 

– 

– 

– 

– 
– 
– 

– 

– 

– 

– 
– 

– 

– 

– 

– 
– 
– 

– 

– 

– 

(3 765) 
(1 941) 

– 

– 

– 

– 
– 
– 

– 

– 

– 

– 
– 

(1 858) 
– 

– 
– 

 (131) 
(1 990) 

– 
(5 706) 

– 
 (608) 

– 
 (608) 

– 

– 

(45 067) 

(13 585) 

– 

(47 767) 

– 
– 
– 

– 

– 

– 

– 
– 

– 
– 

(12 126) 
(1 525) 
(12 486) 

(1 017) 

(2 465) 

(1 694) 

(6 845) 
(1 941) 

(2 327) 
 (608) 

(2 844) 
– 
–  (152 298) 

138 156 

7 484 

145 640 

(5 107)  (138 886)  (143 993) 

1 647 

1 972 

(1 990) 

(5 706) 

 (608) 

(4 685) 

Expenses implemented by 
Member States: 

European Agricultural 
Guarantee Fund 
European Agricultural 
Fund for Rural 
Development & other 
rural development 
instruments 
European Regional 
Development Fund & 
Cohesion Fund 
European Social Fund 
Other 

Implemented by the 
Commission and executive 
agencies 
Implemented by other EU 
agencies and bodies 
Implemented by third 
countries and intern. 
Organisations 
Implemented by other 
entities 
Staff and pension costs 
Changes in employee 
benefits actuarial 
assumptions 
Finance costs 
Share of net deficit of joint 
ventures and asociates 
Other expenses 
TOTAL EXPENSES 

Economic result of the 
year 

41 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

4. 

CONTINGENT ASSETS & LIABILITIES AND 
OTHER SIGNIFICANT DISCLOSURES 

4.1.  CONTINGENT ASSETS 

Guarantees received: 
   Performance guarantees 
   Other guarantees 
Other contingent assets 
Total 

4.2.  CONTINGENT LIABILITIES 

Guarantees given 
Fines 
EAGF, rural development and pre-accession 
Cohesion policy 
Legal cases and other disputes 
Other contingent liabilities 
Total 

4.2.1.  Guarantees given 

Guarantees on loans granted by the EIB 
  65% guarantee 
  70% guarantee 
  75% guarantee 
  100% guarantee 
Total 
Other guarantees given 
Total 

31.12.2014 

EUR millions 
31.12.2013 

 193 
 3 
 45 
241 

226 
3 
13 
243 

Note 
4.2.1 

31.12.2014 
20 846 
5 602 
 505 
 9 
 774 
 3 
27 739 

EUR millions 

31.12.2013 
22 162 
5 227 
1 537 
 137 
 685 
 1 
29 749 

31.12.2014 

EUR millions 
31.12.2013 

18 283 
 447 
 168 
 300 
19 198 
1 648 
20 846 

19 077 
1 361 
 257 
 461 
21 156 
1 006 
22 162 

42 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

4.3.  OTHER SIGNIFICANT DISCLOSURES 

4.3.1.  Outstanding budgetary commitments not yet expensed 

Outstanding budgetary commitments not yet expensed 

4.3.2. 

 Significant legal commitments* 

31.12.2014 
141 600 

EUR millions 
31.12.2013 
175 828 

EUR millions 

Note 
4.3.2.1 

Structural Actions 
Protocol with Mediterranean countries 
Fisheries agreements 
Galileo  
Copernicus 
Trans-European Transport Networks (TEN-T) 
Other contractual commitments 
Total 
* These concern legal commitments where the budgetary commitment has not yet been made. 

31.12.2014 
433 527 
 264 
 176 
 719 
3 476 
– 
 496 
438 657 

31.12.2013 
 150 
 264 
 79 
– 
– 
 850 
 522 
1 864 

4.3.2.1.  Structural Actions 

Funds 

Financial 
framework 
2014-2020 (A) 

Legal 
commitments 
concluded (B) 

Budget 

commitments    

(C ) 

Decommit-   
ments (D) 

EUR millions 

Future obligations     

(=A-C) 

Legal 
commitments 
less budget 
commitments 
(=B-C+D) 

European Regional Development 
Fund and Cohesion Fund 
European Social Fund 
Fund for European Aid to the 
most Deprived 
HEADING 1B: COHESION 
POLICY FUNDS 
European Agricultural Fund for 
Rural Development  
European Maritime and Fisheries 
Fund 
HEADING 2: NATURAL 
RESOURCES 
Asylum and Migration Fund 

Internal Security Fund 
HEADING 3: SECURITY & 
CITIZENSHIP 

259 799 

133 163 

16 837 

89 624 

3 814 

57 828 

3 723 

9 273 

 501 

353 236 

194 714 

26 611 

99 348 

20 707 

3 295 

5 749 

 140 

 19 

105 097 

20 847 

3 314 

2 752 

2 367 

5 119 

– 

– 

– 

– 

– 

– 

Total 

463 452 

215 561 

29 925 

– 

– 

– 

– 

– 

– 

– 

– 

– 

– 

– 

116 325 

242 962 

48 555 

3 222 

80 350 

3 313 

168 102 

326 625 

17 413 

96 053 

 121 

5 730 

17 533 

101 783 

– 

– 

– 

2 752 

2 367 

5 119 

185 636 

433 527 

43 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

5. 

FINANCIAL INSTRUMENTS DISCLOSURES 

5.1.  RECONCILIATION OF CARRYING AMOUNT AND FAIR 

VALUE OF FINANCIAL INSTRUMENTS  

Reconciliation of the carrying amounts and fair value of financial assets by class: 

Financial assets at fair value 
Available for sale financial assets 
Cash and cash equivalents 
Total 
Financial assets at amortised cost 
Loans 
Exchange receivables and non-exchange 
recoverables 
Total 
Total 

31.12.2014 

31.12.2013 

Carrying 
amount 

Fair value 

Carrying 
amount 

Fair value 

EUR millions 

7 707 
16 187 
23 895 

58 454 
15 422 

73 876 
97 770 

7 707 
16 187 
23 895 

58 454 
15 422 

73 876 
97 770 

6 098 
8 275 
14 373 

57 213 
13 536 

70 749 
85 122 

6 098 
8 275 
14 373 

57 213 
13 536 

70 749 
85 122 

Reconciliation of the carrying amounts and fair value of financial liabilities by class: 

Financial liabilities at fair value 
Financial liabilities at amortised cost 
Borrowings 
Finance lease liabilities 
Payables 
Other 
Total 

31.12.2014 

31.12.2013 

EUR millions 

Carrying 
amount 
– 

58 267 
1 089 
42 986 
 359 
102 701 

Fair value 

– 

58 267 
1 089 
42 986 
 359 
102 701 

Carrying 
amount 
– 

57 028 
1 128 
36 014 
 376 
94 545 

Fair value 

– 

57 028 
1 128 
36 014 
 376 
94 545 

44 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5.2.  CURRENCY RISKS 

Annual accounts of the European Commission 2014 

Exposure of the EC to currency risk at year end – net position 

Financial assets 
Available for sale financial assets 
Loans* 
Receivables and recoverables 
Cash and cash equivalents 
Total 
Financial liabilities 
Payables 
Total 
Total 

USD 

GBP 

DKK 

SEK 

EUR 

Other 

Total 

USD 

GBP 

DKK 

SEK 

EUR 

Other 

Total 

31.12.2014 

31.12.2013 

EUR millions 

 68 
 2 
– 

 38 

 108 

– 

– 
 108 

 77 
– 
4 098 
1 126 

5 301 

– 

– 
5 301 

 7 
– 
 49 
 467 

 523 

– 

– 
 523 

 9 
– 
 87 
 926 

7 504 
 135 
11 057 
12 878 

1 022 

31 575 

 42 
 28 
 131 
 752 

 953 

7 707 
 165 
15 422 
16 187 

39 482 

– 

(42 986) 

– 

(42 986) 

–  (42 986) 
1 022  (11 411) 

– 
 953 

(42 986) 
(3 504) 

 39 
 1 

 33 

 73 

– 
 73 

 66 

 13 

 19 

1 043 
 136 
1 245 

– 

1 245 

 40 
 441 

 494 

– 
 494 

 78 
 257 

 354 

– 
 354 

5 960 
 157 
12 157 
7 026 

25 300 

(36 014) 

(36 014) 
(10 714) 

 8 
 217 
 382 

 607 

– 
 607 

6 097 
 166 
13 536 
8 275 

28 074 

(36 014) 

(36 014) 
(7 940) 

*excluding back-to-back operations. 

45 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

If  the  EUR  had  strengthened  against  the  currency  concerned  by  10%  then  this  would  have  had  the 
following impact: 

31.12.2014 
31.12.2013 

31.12.2014 
31.12.2013 

USD 
 (4) 
 (3) 

USD 
 (6) 
 (4) 

Economic result 

GBP 
 (475) 
 (107) 

DKK 
 (47) 
 (44) 

SEK 
 (92) 
 (30) 

GBP 
 (7) 
 (6) 

Net assets 
DKK 
 (1) 
 (1) 

SEK 
 (1) 
 (2) 

EUR millions 

Other 
– 

EUR millions 

Other 
– 

If the EUR had weakened against the currency concerned by 10% then this would have had the following 
impact: 

31.12.2014 
31.12.2013 

31.12.2014 
31.12.2013 

USD 
 4 
 4 

USD 
 8 
 4 

Economic result 

DKK 
 57 
 53 

Net assets 
DKK 
 1 
 1 

GBP 
 580 
 131 

GBP 
 9 
 7 

SEK 
 113 
 38 

SEK 
 1 
 2 

EUR millions 

Other 
– 

EUR millions 

Other 
– 

5.3. 

 INTEREST RATE RISK 

The  following  table  illustrates  the  sensivity  of  available  for  sale  financial  assets  with  variable  interest 
rates (cashflow risk) and fixed interest rates (price risk) in relation to the economic result of the year and 
net assets to a reasonably possible change in interest rates of +/- 1%. 

Increase (+) / 
decrease (-) in 
basis points 
+100 
-100 
+100 
-100 

EUR millions 
Effect on 
economic result 
and net assets 
 (96) 
 103 
 (58) 
 60 

31.12.2014: Available for sale financial assets 

31.12.2013: Available for sale financial assets 

5.4.  CREDIT RISK 

Financial assets that are neither past due nor impaired 

Loans 
Receivables and recoverables 
Total at 31.12.2014 
Loans 
Receivables and recoverables 
Total at 31.12.2013 

Total 

Neither past 
due nor 
impaired 

58 454 
15 422 
73 875 
57 213 
13 536 
70 749 

58 454 
7 815 
66 269 
57 211 
9 898 
67 109 

EUR millions 

Past due but not impaired 

< 1 year 

– 
5 622 
5 622 
 1 
1 081 
1 082 

1-5 years 
– 
1 846 
1 846 
 1 
2 115 
2 116 

> 5 years 
– 
 138 
 138 

 443 
 443 

46 

 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Annual accounts of the European Commission 2014 

Financial assets by risk category 

31.12.2014 

31.12.2013 

  Available 
for sale 

Loans & 
receivables 

Cash 

Total 

Available 
for sale 

Loans & 
receivables 

EUR millions 

Cash 

Total 

Counterparties with external 
credit rating 
Prime and high grade 
Upper medium grade 
Lower medium grade 
Non-investment grade 
Total 
Counterparties without 
external credit rating 
Group 1 (debtors without defaults 
in the past) 
Group 2 (debtors with defaults in 
the past) 
Total 
Total 

6 192 
 150 
 177 
 27 
6 545 

 15 

– 

2 549 
25 017 
5 996 
28 186 
61 748 

12 821 
2 800 
 249 
 307 
16 178 

21 562 
27 967 
6 422 
28 520 
84 471 

4 680 
 72 
 160 
 33 
4 945 

4 385 

 10 

4 409 

 136 

– 

 136 

– 

– 

4 450 
 143 
31 886 
26 781 
63 260 

3 712 

 137 

6 266 
1 572 
 182 
 253 
8 273 

15 396 
1 787 
32 228 
27 067 
76 478 

 2 

– 

3 714 

 137 

 15 
6 560 

4 521 
66 269 

 10 
16 187 

4 545 
89 016 

– 
4 945 

3 849 
67 109 

 2 
8 275 

3 851 
80 329 

5.5.  LIQUIDITY RISK 

Maturity analysis of financial liabilities by remaining contractual maturity 

Borrowings 
Finance lease liabilities 
Payables 
Other financial liabilities 
Total at 31.12.2014 
Borrowings 
Finance lease liabilities 
Payables 
Other financial liabilities 
Total at 31.12.2013 

< 1 year 
8 716 
 48 
42 983 
 17 
51 764 
3 065 
 44 
36 014 
 16 
39 139 

1-5 years 
15 194 
 213 
 2 
 84 
15 493 
21 368 
 199 
- 
 78 
21 645 

> 5 years 
34 357 
 828 
 0 
 234 
35 420 
32 595 
 885 
- 
 258 
33 738 

EUR millions 
Total 
58 267 
1 089 
42 986 
 335 
102 677 
57 028 
1 128 
36 014 
 352 
94 522 

47 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

6.  RELATED PARTIES 

The related parties of the entity are the EU consolidated entities and the key management personnel of 
these entities. Transactions between these entities take place as part of the normal operations of the EU 
and  as  this  is  the  case,  no  specific  disclosure  requirements  are  necessary  for  these  transactions  in 
accordance with the EU accounting rules. 

Details on key management entitlements are provided in note 8 of the EU consolidated annual accounts. 

48 

 
Annual accounts of the European Commission 2014 

7. 

EVENTS AFTER THE BALANCE SHEET DATE 

At  the  date  of  transmission  of  these  accounts,  no  material  issues  had  come  to  the  attention  of  the 
Accounting  Officer  of  the  Commission  or  were  reported  to  him  that  would  require  separate  disclosure 
under  this  section.  The  accounts  and  related  notes  were  prepared  using  the  most  recently  available 
information and this is reflected in the information presented. 

49 

 
Annual accounts of the European Commission 2014 

EUROPEAN COMMISSION 
FINANCIAL YEAR 2014 

REPORTS ON THE IMPLEMENTATION OF 
THE BUDGET AND EXPLANATORY NOTES 

It should be noted that due to the rounding of figures into millions of euros, some financial data in the 
tables below may appear not to add-up.

50 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

CONTENTS 

EU BUDGET RESULT ................................................................................................... 52 

RECONCILIATION OF ECONOMIC RESULT WITH BUDGET RESULT ..................................... 53 

STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS ................................... 54 

1. 

IMPLEMENTATION OF EC BUDGET REVENUE ......................................................... 57 

1.1.SUMMARY OF THE IMPLEMENTATION OF BUDGET REVENUE .................................... 57 

2. 

IMPLEMENTATION OF EC BUDGET EXPENDITURE ................................................... 59 

2.1. MFF: BREAKDOWN & CHANGES IN COMMITMENT & PAYMENT APPROPRIATIONS ....... 59 

2.2.MFF: IMPLEMENTATION OF COMMITMENT APPROPRIATIONS ................................... 60 

2.3.MFF: IMPLEMENTATION OF PAYMENT APPROPRIATIONS ......................................... 61 

2.4.MFF: MOVEMENTS IN COMMITMENTS OUTSTANDING (RAL) .................................... 62 

2.5.MFF: BREAKDOWN OF COMMITMENTS OUTSTANDING BY YEAR OF ORIGIN ............... 62 

2.6.POLICY AREA: BREAKDOWN AND CHANGES IN COMMITMENT AND PAYMENT 
APPROPRIATIONS ................................................................................................... 63 

2.7.POLICY AREA: IMPLEMENTATION OF COMMITMENT APPROPRIATIONS ...................... 66 

2.8.POLICY AREA: IMPLEMENTATION OF PAYMENT APPROPRIATIONS ............................ 68 

2.9.POLICY AREA: MOVEMENTS IN COMMITMENTS OUTSTANDING ................................ 69 

2.10.POLICY AREA: BREAKDOWN OF COMMITMENTS OUTSTANDING BY YEAR OF ORIGIN  70 

51 

 
 
 
 
Annual accounts of the European Commission 2014 

EU BUDGET RESULT 

Revenue for the financial year 
Payments against current year's budget appropriations 
Payments against assigned revenue appropriations 
Payment appropriations carried over to  year N+1 
Cancellation of unused payment appropriations carried over 
from year N-1 
Evolution of assigned revenue 
Exchange differences for the year 
Budget result* 

2014 
143 940 
(141 193) 
– 
(1 787) 
 25 

 336 
 110 
1 432 

EUR millions 
2013 
149 504 
(147 567) 
– 
(1 329) 
 34 

 403 
 (42) 
1 002 

* Of which EFTA result is EUR (3) million in 2014 and EUR (4) million in 2013. 

52 

 
 
 
 
 
Annual accounts of the European Commission 2014 

RECONCILIATION OF ECONOMIC RESULT WITH BUDGET 
RESULT 

ECONOMIC RESULT OF THE YEAR 

Revenue 
Entitlements established in current year but not yet collected 
Entitlements established in previous years and collected in 
current year 
Accrued revenue (net) 
Expenses 
Accrued expenses (net) 
Amount from liaison accounts 
Expenses prior year paid in current year 
Net-effect pre-financing 
Payment appropriations carried over to next year 
Payments made from carry-overs & cancellation of unused 
payment appropriations 
Movement in provisions 
Other 

BUDGET RESULT OF THE YEAR (COMMISSION) 

2014 
(11 226) 

EUR millions 
2013 
(4 685) 

(6 567) 
4 798 

(4 877) 

9 230 
3 000 
 (821) 
 530 
(1 365) 
1 238 

12 263 
(1 705) 

4 497 

(2 062) 
3 343 

 (134) 

3 217 
3 075 
(1 123) 
 (823) 
 (908) 
 899 

4 323 
(1 069) 

4 053 

BUDGET RESULT OTHER INSTITUTIONS 

(3 065) 

(3 051) 

BUDGET RESULT OF THE YEAR (EU) 

1 432 

1 002 

53 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

STATEMENT OF COMPARISON OF BUDGET AND ACTUAL 
AMOUNTS 

BUDGET REVENUE 

  Initial adopted 
budget 

Amending 
budgets 

Final adopted 
budget 

EUR millions 
Revenue 

1.  Own resources 

   Of which Customs duties 
   Of which VAT 
   Of which GNI 

3.  Surpluses, balances and adjustments 
4.  Revenue accruing from persons 

working with the institutions and 
with other Union bodies 
5.  Revenue accruing from the 

administrative operation of the 
institutions 

6.  Contributions and refunds in 

connection with Union agreements 
and programmes 

7.  Interests on late payments and fines 
8.  Borrowing and lending operations 
9.  Miscellaneous revenue 
Total 

133 960 
16 186 
17 882 
99 767 
– 
 939 

 52 

 60 

 123 
 2 
 30 
135 167 

(5 572) 
 (12) 
 (192) 
(5 154) 
5 101 
– 

128 388 
16 174 
17 690 
94 614 
5 101 
 939 

128 867 
16 499 
17 746 
94 863 
5 100 
 927 

– 

– 

 52 

 256 

 60 

3 213 

3 850 
 151 
– 
3 530 

3 973 
 153 
 30 
138 697 

4 607 
 297 
 14 
143 280 

54 

 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

BUDGET EXPENDITURE: COMMITMENTS BY MULTIANNUAL FINANCIAL 
FRAMEWORK (MFF) HEADING 

Initial 
adopted 
budget 

Amending 
budgets  & 
transfers 

Final 
adopted 
budget 

Additional 
appropri- 
ations* 

Total 
appropria-
tions 
available 

EUR millions 

Commitments 
made 

1. Smart and inclusive growth  63 986 
16 484 

1a: Competitiveness for 
growth and jobs 
1b: Economic, social and 
territorial cohesion 

47 502 

– 
– 

– 

63 986 
16 484 

3 625 
2 645 

67 611 
19 129 

45 972 
18 018 

47 502 

 980 

48 482 

27 954 

2. Sustainable growth: natural 

59 267 

 (76) 

59 191 

2 105 

61 296 

48 263 

resources 

of which: market related 
expenditure and direct 
payments 

3. Security and citizenship 
4. Global Europe 
5. Administration 

of which: Administrative 
expenditure of the 
institutions 

43 778 

– 

43 778 

1 724 

45 502 

44 293 

2 172 
8 325 
4 873 
– 

– 
 98 
 (0) 
– 

2 172 
8 423 
4 873 
– 

 84 
 577 
 366 
– 

2 256 
9 000 
5 240 
– 

1 507 
8 489 
5 094 
– 

6. Compensations 
8. Negative reserve 
9. Special Instruments 
Total 

 29 
– 
 456 
139 109 

 29 
– 
– 
– 
 29 
 485 
 50  139 159 

– 
– 
 92 
6 849 

 29 
– 
 577 
146 008 

 29 
– 
 64 
109 418 

*  Additional  appropriations  include  appropriations  carried  over  from  last  year,  assigned  revenue  and 
appropriations made availbale again following decommitments. 

55 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

BUDGET EXPENDITURE: PAYMENTS BY MULTIANNUAL FINANCIAL 
FRAMEWORK (MFF) HEADING 

Initial 
adopted 
budget 

Amending 
budgets  & 
transfers 

Final 
adopted 
budget 

Additional 
appropri- 
ations* 

Total 
appropria-
tions 
available 

EUR millions 

Payments 
made 

1. Smart and inclusive growth  62 393 
11 441 

3 470 
 415 

65 863 
11 857 

3 836 
3 451 

69 699 
15 308 

67 683 
13 331 

50 951 

3 055 

54 006 

 385 

54 392 

54 352 

1a: Competitiveness for 
growth and jobs 
1b: Economic, social and 
territorial cohesion 

2. Sustainable growth: natural 

56 459 

 (500) 

55 959 

2 003 

57 962 

56 584 

resources 

of which: market related 
expenditure and direct 
payments 

3. Security and citizenship 
4. Global Europe 
5. Administration 

of which: Administrative 
expenditure of the 
institutions 

43 777 

 (1) 

43 776 

1 738 

45 514 

44 287 

1 677 
6 191 
4 874 
– 

 (17) 
 734 
 1 
– 

1 660 
6 925 
4 875 
– 

 88 
 556 
 690 
– 

1 747 
7 481 
5 565 
– 

1 711 
7 206 
5 090 
– 

6. Compensations 
8. Negative reserve 
9. Special Instruments 
Total 

 29 
– 
 350 
131 973 

 29 
– 
– 
– 
 (157) 
 193 
3 530  135 503 

– 
– 
 344 
7 517 

 29 
– 
 536 
143 020 

 29 
– 
 465 
138 768 

*  Additional  appropriations  include  appropriations  carried  over  from  last  year,  assigned  revenue  and 
appropriations made availbale again following decommitments.  

56 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1. 

IMPLEMENTATION OF EC BUDGET REVENUE 

Annual accounts of the European Commission 2014 

1.1.  SUMMARY OF THE IMPLEMENTATION OF BUDGET REVENUE 

Title 

Income appropriations 

Entitlements established 

Initial 
adopted 
budget 
133 960 
– 

Final adopted 
budget 

Current  year Carried  over 

128 388 
5 101 

128 853 
10 507 

Total 

128 899 
10 507 

On 
entitlements 
current year 
128 841 
5 100 

Revenue 
On 
entitlements 
carried over 
 25 
– 

Receipts as  
% of budget 

EUR millions 
Outstanding 

Total 

128 867 
5 100 

100.37% 
99.98% 

 32 
5 407 

 939 

 939 

 924 

 934 

 916 

 11 

 927 

98.73% 

 46 
– 

 11 

 52 

 52 

 259 

 13 

 272 

 247 

 9 

 256 

487.61% 

 60 

 60 

3 257 

 208 

3 465 

3 110 

 102 

3 213 

5354.83% 

 252 

 123 

3 973 

2 206 

10 416 

12 622 

1 131 

3 475 

4 607 

115.95% 

8 016 

8.  Borrowing and lending 

 2 

 153 

 46 

 255 

 301 

 43 

 254 

 297 

193.72% 

 3 

operations 

9.  Miscellaneous revenue 

  Total 

 30 
135 167 

 30 
138 697 

 14 
146 066 

 9 
10 957 

 23 
157 023 

 12 
139 403 

 1 
3 878 

 14 
143 280 

45.83% 
103.30% 

 9 
13 743 

1.  Own resources 
3.  Surpluses, balances and 

adjustments 

4.  Revenue accruing from persons 
working with the institutions 
and other Union bodies 
5.  Revenue accruing from the 

administrative operation of the 
institutions 

6.  Contributions and refunds in 

connection with Union 
agreements and programmes 
7.  Interests on late payments and 

fines 

11.  Sugar levies 
12.  Customs duties 
13.  VAT 
14.  GNI 
15.  Correction of budgetary 

imbalances 

  Total 

Chapter 

Income appropriations 

Entitlements established 

Detail Title 1: Own resources 

Initial budget 
voted 

Final adopted 
budget 

Current  year Carried  over 

 125 
16 186 
17 882 
99 767 
– 

 (90) 
16 174 
17 690 
94 614 
– 

 (69) 
16 485 
17 746 
94 863 
 (172) 

– 
 46 
– 
– 
– 

Total 

 (69) 
16 531 
17 746 
94 863 
 (172) 

On 
entitlements 
current year 
 (69) 
16 473 
17 746 
94 863 
 (172) 

Revenue 
On 
entitlements 
carried over 
– 
 25 
– 
– 
– 

 Total  

 (69) 
16 499 
17 746 
94 863 
 (172) 

77.12% 
102.01% 
100.32% 
100.26% 
0.00% 

133 960 

128 388 

128 853 

 46 

128 899 

128 841 

 25 

128 867 

100.37% 

57 

EUR millions 

Receipts as  
% of budget 

Outstanding 

 7 

 16 

– 
 32 
– 
– 
– 

 32 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

Detail Title 3: Surpluses, balances and adjustments 

Chapter 

Income appropriations 

Entitlements established 

On 
entitlements 
current year 
1 005 
 (79) 
4 212 
 (2) 

Revenue 
On 
entitlements 
carried over 
– 
– 
– 
– 

 (18) 

 (19) 

– 

– 

– 

10 507 

5 100 

Total 

1 005 
 (284) 
9 825 
 (2) 

 (18) 

 (19) 

EUR millions 

Receipts as  
% of budget 

Outstanding 

Total 

1 005 
 (79) 
4 212 
 (2) 

100.00% 
97.59% 
100.87% 
0.00% 

 (18) 

0.00% 

 (19) 

0.00% 

– 
 (205) 
5 613 
– 

– 

– 

5 100 

99.98% 

5 407 

Initial budget 
voted 

Final adopted 
budget 

Current  year Carried  over 

30.  Surplus from previous year 
31.  VAT balances 
32.  GNI balances 
34.  Adjustment for non-
participation in JHAP 

35.  United Kingdom correction - 

adjustments 

36.  United Kingdom correction - 
Intermediate calculation 

  Total 

– 
– 
– 
– 

– 

– 

– 

1 005 
 (81) 
4 176 
– 

– 

– 

1 005 
 (284) 
9 825 
 (2) 

 (18) 

 (19) 

5 101 

10 507 

– 
– 
– 
– 

– 

– 

– 

58 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2. 

IMPLEMENTATION OF EC BUDGET EXPENDITURE 

Annual accounts of the European Commission 2014 

2.1.  MFF: BREAKDOWN & CHANGES IN COMMITMENT & PAYMENT APPROPRIATIONS 

Commitment appropriations 

Payment appropriations 

Initial adopted 
budget 

Budget appropriations 
Amending 
budgets & 
Transfers 
2 

Additional 
appropriations 

Final adopted 
budget 

Carry-overs   Assigned 
revenue 

Total 
appropri- 
ations 
available 

Budget appropriations 

Initial adopted 
budget 

Final adopted 
budget 

Additional 
appropriations 
Carry-overs   Assigned 
revenue 

3=1+2 

63 986 

4 
 150 

5 
3 474 

6=3+4+5 
67 611 

7 
62 393 

9=7+8 

65 863 

10 

 289 

11 
3 548 

12=9+10+11 

69 699 

Amending 
budgets & 
Transfers 
8 
3 470 

EUR millions 

Total 
appropri- 
ations 
available 

MFF Heading 

1.  Smart and inclusive 

growth 

1a: Competitiveness 
for growth and jobs 
1b: Economic, social 
and territorial 
cohesion 
2.   Sustainable growth: 
natural resources 

of which: market 
related expenditure 
and direct payments 
3.  Security and citizenship 
4.  Global Europe 
5.  Administration 

of which: 
Administrative 
expenditure of the 
institutions 

1 
63 986 

16 484 

47 502 

2 172 
8 325 
4 873 
– 

6.  Compensations 
8.  Negative reserve 
9.  Special Instruments 

  Total 

 29 
– 
 456 
139 109 

– 

– 

– 

– 
 98 
– 
– 

– 
– 
 29 
 50 

16 484 

 0 

2 645 

19 129 

11 441 

 415 

11 857 

47 502 

 150 

 830 

48 482 

50 951 

3 055 

54 006 

59 267 

 (76) 

59 191 

43 778 

– 

43 778 

– 

– 

 3 
 6 
– 
– 

2 105 

61 296 

56 459 

 (500) 

55 959 

1 724 

45 502 

43 777 

 (1) 

43 776 

 81 
 571 
 366 
– 

2 256 
9 000 
5 240 
– 

1 677 
6 191 
4 874 
– 

 (17) 
 734 
 1 
– 

1 660 
6 925 
4 875 
– 

2 172 
8 423 
4 873 
– 

 29 
– 
 485 
139 159 

– 
– 
 18 
 178 

– 
– 
 74 
6 671 

 29 
– 
 577 
146 008 

 29 
– 
 350 
131 973 

– 
– 
 (157) 
3 530 

 29 
– 
 193 
135 503 

59 

 128 

 161 

 35 

 13 

 10 
 35 
 320 
– 

– 
– 
 270 
 958 

3 323 

15 308 

 224 

54 392 

1 968 

57 962 

1 724 

45 514 

 78 
 521 
 370 
– 

1 747 
7 481 
5 565 
– 

– 
– 
 74 
6 559 

 29 
– 
 536 
143 020 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.2.  MFF: IMPLEMENTATION OF COMMITMENT APPROPRIATIONS 

Annual accounts of the European Commission 2014 

MFF Heading 

Total 
appropriation
s available 

From final 
adopted budget 

Commitments made 
From 
assigned 
revenue 

From 
carry-
overs 

Total 

% 

Appropriations carried over to 2015 
% 

Total 

Assigned 
revenue 

Carry-overs 
by decision 

Appropriations lapsing 

From final 
adopted 
budget 

From 
carry-
overs 

Assigned 
revenue 
(EFTA) 

Total 

% 

EUR millions 

1 

67 611 
19 129 

2 

44 260 
16 466 

3 

 150 
 0 

4 

5=2+3+4 

6=5/1 

7 

8 

9=7+8 

10=9/1 

11 

12 

13 

1 561 
1 552 

45 972 
18 018 

67.99% 
94.19% 

1 913 
1 092 

8 480  10 392 
1 092 

– 

15.37% 
5.71% 

11 246 
 18 

1.  Smart and inclusive growth 
1a: Competitiveness for 
growth and jobs 
1b: Economic, social and 
territorial cohesion 
2.  Sustainable growth: natural 

resources 

of which: market related 
expenditure and direct 
payments 

3.  Security and citizenship 
4.  Global Europe 
5.  Administration 

of which: Administrative 
expenditure of the 
institutions 

6.  Compensations 
8.  Negative reserve 
9.  Special Instruments 

  Total 

48 482 

27 794 

 150 

 9 

27 954 

57.66% 

 820 

8 480 

9 300 

19.18% 

11 228 

61 296 

46 866 

45 502 

42 910 

2 256 
9 000 
5 240 
– 

1 463 
8 280 
4 867 
– 

– 

– 

 3 
 6 
– 
– 

 29 
– 
 577 
146 008 

 29 
– 
 45 
105 811 

– 
– 
 18 
 178 

1 397 

48 263 

78.74% 

 708 

2 866 

3 575 

5.83% 

9 458 

1 383 

44 293 

97.34% 

 341 

 868 

1 209 

2.66% 

 0 

 41 
 203 
 227 
– 

1 507 
8 489 
5 094 
– 

66.81% 
94.32% 
97.23% 
0.00% 

 40 
 368 
 139 
– 

 254 
 136 
– 
– 

 294 
 504 
 139 
– 

13.02% 
5.60% 
2.66% 
0.00% 

 455 
 7 
 6 
– 

– 
– 
– 

 29  100.00% 
0.00% 
11.06% 
3 429  109 418  74.94% 

– 
 64 

– 
– 
 74 
3 242 

– 
– 
 361 

0.00% 
– 
0.00% 
– 
 435 
75.37% 
12 097  15 339  10.51% 

– 
– 
 78 
21 251 

60 

14=11+1
2+13 
 0  11 247 
 19 
 0 

15=14/1 

16.63% 
0.10% 

–  11 228 

23.16% 

– 

– 

– 
 0 
– 
– 

9 458 

15.43% 

 0 

0.00% 

 455 
 7 
 6 
– 

20.17% 
0.07% 
0.11% 
0.00% 

0.00% 
– 
0.00% 
– 
– 
13.57% 
 0  21 251  14.55% 

– 
– 
 78 

– 
– 

– 

– 

– 

– 
– 
– 
– 

– 
– 
– 
– 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.3.  MFF: IMPLEMENTATION OF PAYMENT APPROPRIATIONS 

Annual accounts of the European Commission 2014 

MFF Heading 

Total 
appropriati
ons 
available 

From final 
adopted 
budget 

From 
carry-overs 

Payments made 
From 
assigned 
revenue 

Total 

% 

Automatic 
carry-overs 

Appropriations carried over 
Total 
Assigned 
revenue 

Carry-
overs by 
decision 

% 

From final 
adopted 
budget 

EUR millions 

From 
carry-overs 

Appropriations lapsing 
Assigned 
revenue 
(EFTA) 

Total 

% 

1 

2 

3 

4 

5=2+3+4 

6=5/1 

7 

8 

9 

10=7+8+9  11=10/1 

12 

13 

14 

1.  Smart and 

69 699 

65 730 

 267 

1 686 

67 683 

97.11% 

 121 

15 308 

11 740 

 108 

1 483 

13 331 

87.09% 

 104 

 0 

 0 

1 860 

1 980 

2.84% 

1 838 

1 943 

12.69% 

 12 

 12 

 22 

 20 

inclusive growth 

1a: 
Competitiveness 
for growth and 
jobs 
1b: Economic, 
social and 
territorial 
cohesion 
2.  Sustainable 

growth: natural 
resources 

of which: 
market related 
expenditure and 
direct payments 

3.  Security and 
citizenship 
4.  Global Europe 
5.  Administration 

of which: 
Administrative 
expenditure of 
the institutions 

6.  Compensations 
8.  Negative reserve 
9.  Special 

Instruments 
Total 

54 392 

53 990 

 159 

 203 

54 352 

99.93% 

 16 

– 

 21 

 38 

0.07% 

 0 

 2 

57 962 

55 050 

 33 

1 502 

56 584 

97.62% 

 34 

 868 

 467 

1 369 

2.36% 

45 514 

42 891 

 12 

1 383 

44 287 

97.30% 

 16 

 868 

 341 

1 226 

2.69% 

1 747 

1 648 

 8 

 55 

1 711 

97.94% 

 8 

7 481 
5 565 
– 

6 880 
4 615 
– 

 29 
– 
 536 

 29 
– 
 157 

 29 
 294 
– 

– 
– 
 270 

 297 
 180 
– 

7 206 
5 090 
– 

96.32% 
91.46% 
0.00% 

 34 
 255 
– 

– 
– 
 38 

 29  100.00% 
0.00% 
86.70% 

– 
 465 

– 
– 
 0 

 0 

 9 
– 
– 

– 
– 
 36 

 23 

 31 

1.75% 

 224 
 190 
– 

 267 
 446 
– 

3.57% 
8.01% 
0.00% 

– 
– 
 35 

– 
– 
 71 

0.00% 
0.00% 
13.28% 

 7 

 0 

 4 

 2 
 4 
– 

– 
– 
 0 

 2 

 1 

 2 

 6 
 25 
– 

– 
– 
 0 

143 020  134 108 

 902 

3 758  138 768  97.03% 

 452 

 913 

2 799 

4 164 

2.91% 

 29 

 56 

61 

15=12+ 
13+14 
 36 

16= 15/1 

0.05% 

 33 

0.22% 

 2 

0.00% 

 9 

0.02% 

 2 

0.00% 

 5 

0.31% 

 8 
 30 
– 

0.10% 
0.53% 
0.00% 

– 
– 
 0 

0.00% 
0.00% 
0.02% 

 88 

0.06% 

 2 

 2 

– 

– 

– 

 0 

 0 
– 
– 

– 
– 
– 

 2 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.4.  MFF: MOVEMENTS IN COMMITMENTS OUTSTANDING (RAL) 

Commitments outstanding at the end of the previous year 

Commitments of the year 

Annual accounts of the European Commission 2014 

MFF Heading 

1. 

Smart and inclusive growth 

1a: Competitiveness for growth 
and jobs 
1b: Economic, social and territorial 
cohesion 

Commitments 
carried forward 
from previous 
year 

166 761 
29 657 

Decommitments 
/Revaluations/ 
Cancellations 

Payments  

Commitments 
outstanding at 
year-end 

Commitments 
made during the 
year 

Payments 

Cancellation of 
commitments 
which cannot be 
carried over 

Commitments 
outstanding at 
year-end 

(2 037) 
 (808) 

(60 662) 
(8 167) 

104 062 
20 681 

45 972 
18 018 

(7 021) 
(5 164) 

38 947 
12 850 

137 105 

(1 229) 

(52 494) 

83 381 

27 954 

(1 857) 

2.   Sustainable growth: natural 

27 978 

 (275) 

(11 930) 

15 773 

48 263 

(44 655) 

resources 

of which: market related 
expenditure and direct payments 

Security and citizenship 

3. 
4.  Global Europe 
Administration 
5. 

of which: Administrative 
expenditure of the institutions 

Compensations 

6. 
8.  Negative reserve 
9. 

Special Instruments 
Total 

 40 

3 092 
23 285 
 335 
– 

– 
– 
 401 
221 853 

 (3) 

 (21) 

 16 

44 293 

(44 266) 

 (306) 
 (721) 
 (26) 
– 

– 
– 
– 
(3 366) 

 (944) 
(5 490) 
 (307) 
– 

– 
– 
 (401) 
(79 734) 

1 841 
17 075 
 1 
– 

– 
– 
– 
138 753 

1 507 
8 489 
5 094 
– 

 29 
– 
 64 
109 418 

 (767) 
(1 716) 
(4 783) 
– 

 (29) 
– 
 (64) 
(59 034) 

EUR millions 

Total 
Commitments 
outstanding at 
year-end 

143 009 
33 532 

26 096 

109 477 

3 609 

19 382 

 27 

 740 
6 772 
 312 
– 

– 
– 
 0 
50 379 

 43 

2 582 
23 846 
 313 
– 

– 
– 
 0 
189 132 

 (4) 
 (4) 

– 

– 

– 

– 
 (1) 
– 
– 

– 
– 
– 
 (5) 

2.5.  MFF: BREAKDOWN OF COMMITMENTS OUTSTANDING BY YEAR OF ORIGIN 

MFF Heading 

<2008 

2008 

2009 

2010 

2011 

1. 

Smart and inclusive growth 

1a: Competitiveness for growth 
and jobs 
1b: Economic, social and territorial 
cohesion 

2.   Sustainable growth: natural 

resources 

of which: market related 
expenditure and direct payments 

Security and citizenship 

3. 
4.  Global Europe 
Administration 
5. 

of which: Administrative 
expenditure of the institutions 

Compensations 

6. 
8.  Negative reserve 
9. 

Special Instruments 
Total 

2 915 
 255 

2 660 

 338 

 0 

 14 
 944 
– 
– 

– 
– 
– 
4 211 

 414 
 211 

 203 

 50 

– 

 31 
 539 
– 
– 

– 
– 
– 
1 034 

1 578 
1 260 

 318 

 93 

– 

 73 
 842 
– 
– 

– 
– 
– 
2 586 

4 327 
2 274 

2 053 

 116 

 0 

 158 
1 336 
– 
– 

– 
– 
– 
5 937 

62 

11 007 
3 001 

2012 

27 951 
5 451 

2013 

2014 

55 870 
8 230 

38 947 
12 850 

EUR millions 
Total 

143 009 
33 532 

8 007 

22 500 

47 640 

26 096 

109 477 

 193 

 0 

 261 
2 800 
– 
– 

– 
– 
– 
14 261 

3 524 

11 459 

3 609 

19 382 

 9 

 497 
4 686 
 0 
– 

– 
– 
– 
36 658 

 7 

 807 
5 928 
 1 
– 

– 
– 
– 
74 066 

 27 

 740 
6 772 
 312 
– 

– 
– 
 0 
50 379 

 43 

2 582 
23 846 
 313 
– 

– 
– 
 0 
189 132 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2.6.  POLICY AREA: BREAKDOWN AND CHANGES IN COMMITMENT AND PAYMENT 
APPROPRIATIONS 

Annual accounts of the European Commission 2014 

Commitment appropriations 

Payment appropriations 

Policy Area 

Initial adopted 
budget 

Budget appropriations 
Amending 
budgets & 
Transfers 
2 

1 

Final adopted 
budget 

3=1+2 

01  Economic and financial 

 213 

 20 

 233 

affairs 

02  Enterprise and Industry 
03  Competition 
04  Employment, social 
affairs and inclusion 
05  Agriculture and rural 

development 

06  Mobility and transport 
07  Environment 
08  Research and 
Innovation 
09  Communications 

networks, content and 
technology 
10  Direct research 
11  Maritime affairs and 

Fisheries 

12  Internal market and 

services 

2 536 
 94 
13 839 

 (10) 
 (1) 
 90 

2 526 
 93 
13 929 

58 047 

 (22) 

58 025 

2 867 
 407 
6 215 

1 637 

 425 
1 066 

 117 

 (7) 
 1 
 (53) 

2 860 
 408 
6 162 

 (26) 

1 612 

 (23) 
 (76) 

 1 

 401 
 991 

 118 

13  Regional and urban 

33 073 

 81 

33 154 

policy 

14  Taxation and customs 

union 

15  Education and culture 
16  Communication 
17  Health and consumer 

protection 
18  Home affairs 
19  Foreign policy 

instruments 

20  Trade 
21  Development and 
Cooperation 
22  Enlargement 
23  Humanitarian aid and 

Civil protection 
24  Fight against fraud 
25  Commission's policy 
coordination & legal 
advice 

 157 

2 820 
 246 
 618 

1 201 
 733 

 121 
5 084 

1 520 
1 006 

 78 
 194 

– 

 57 
 2 
 (2) 

– 
 (55) 

 (2) 
 121 

 (45) 
 158 

 (2) 
– 

 158 

2 877 
 248 
 616 

1 202 
 678 

 119 
5 204 

1 475 
1 164 

 77 
 194 

– 

– 
– 
– 

– 

– 
– 

 0 

– 

– 

– 
– 
 1 

 2 
 5 

– 
 1 

– 
– 

– 
– 

Additional 
appropriations 

Carried 
over 

Assigned 
revenue 

Total 
appropr. 
available 

Budget appropriations 

Additional 
appropriations 

Initial adopted 
budget 

Final adopted 
budget 

Carried over 

Assigned 
revenue 

4 

– 

– 
– 
 168 

5 

 118 

 228 
 6 
 581 

6=3+4+5 
 351 

2 754 
 100 
14 678 

7 

 297 

2 105 
 94 
11 622 

Amending 
budgets & 
Transfers 
8 

 2 

 60 
 (1) 
 (341) 

9=7+8 

 300 

2 165 
 93 
11 280 

2 117 

60 141 

55 635 

 (518) 

55 117 

 71 
 22 
1 031 

 148 

 580 
 30 

 15 

2 931 
 430 
7 193 

1 759 

 982 
1 021 

 133 

1 003 
 346 
4 107 

 961 

 420 
 780 

 117 

 1 
 1 
 (11) 

1 004 
 347 
4 096 

 107 

1 068 

 (23) 
 8 

 (3) 

 397 
 788 

 114 

EUR millions 

Total 
appropr. 
available 

10 

 8 

 14 
 8 
 51 

 22 

 6 
 18 
 35 

 16 

 55 
 5 

 6 

11 

 121 

12=9+10+11 

 429 

 308 
 6 
 191 

2 486 
 107 
11 522 

1 981 

57 120 

 80 
 19 
1 490 

 259 

 497 
 30 

 15 

1 089 
 384 
5 621 

1 343 

 949 
 823 

 134 

 354 

33 508 

40 223 

3 244 

43 467 

 391 

 136 

43 995 

 122 

2 242 
 245 
 567 

 763 
 463 

 115 
3 658 

 904 
 851 

 75 
 195 

 10 

 133 

 178 
 6 
 (13) 

 5 
 74 

 1 
 286 

 (12) 
 564 

– 
– 

2 420 
 251 
 553 

 768 
 537 

 116 
3 944 

 892 
1 415 

 75 
 195 

 7 

 12 
 14 
 12 

 4 
 3 

 3 
 26 

 5 
 8 

 9 
 15 

 6 

 537 
 11 
 25 

 31 
 52 

 3 
 222 

 12 
 75 

 1 
 11 

 146 

2 969 
 276 
 590 

 803 
 593 

 123 
4 192 

 908 
1 498 

 84 
 221 

 164 

3 330 
 259 
 643 

1 243 
 739 

 122 
5 469 

1 488 
1 240 

 77 
 205 

 7 

 453 
 11 
 26 

 39 
 55 

 3 
 263 

 13 
 75 

 1 
 11 

63 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

26  Commission’s 
administration 

27  Budget 
28  Audit 
29  Statistics 
30  Pensions and related 

expenditure 

31  Language Services 
32  Energy 
33  Justice 
34  Climate action 
40  Reserves 
  Total 

1 001 

 96 
 12 
 132 
1 450 

 388 
 933 
 203 
 121 
 456 
139 109 

 (40) 

 (11) 
– 
– 
 44 

 3 
 24 
 2 
– 
 (179) 
 50 

 961 

 84 
 12 
 132 
1 494 

 391 
 958 
 205 
 122 
 277 
139 159 

 0 

– 
– 
– 
– 

– 
– 
– 
– 
– 
 178 

 162 

 8 
 1 
 14 
 2 

 87 
 128 
 11 
 1 
– 
6 671 

1 124 

 92 
 12 
 146 
1 495 

 478 
1 086 
 216 
 122 
 277 
146 008 

 991 

 96 
 12 
 152 
1 450 

 388 
 588 
 193 
 43 
 150 
131 973 

 (30) 

 (11) 
– 
 (21) 
 44 

 3 
 68 
 (6) 
 9 
 (150) 
3 530 

 961 

 160 

 164 

 84 
 12 
 131 
1 494 

 391 
 656 
 187 
 52 
– 
135 503 

 7 
 1 
 6 
– 

 20 
 5 
 4 
 3 
– 
 958 

 8 
 1 
 22 
 2 

 87 
 144 
 12 
 1 
– 
6 559 

1 285 

 99 
 13 
 160 
1 495 

 498 
 805 
 202 
 55 
– 
143 020 

64 

 
 
Annual accounts of the European Commission 2014 

2.6.1. 

POLICY AREA: COMPARISON OF BUDGET AND ACTUAL COMMITMENTS 

  Policy Area 

Initial 
adopted 
budget 

Amending 
budgets  & 
transfers 

Final 
adopted 
budget 

Additional 
appropri- 
ations* 

Total 
appropria-
tions 
available 

EUR millions 

Commitments 
made 

01 Economic and financial 

 213 

 20 

 233 

 118 

 351 

 236 

affairs 

02 Enterprise and Industry 
03 Competition 
04 Employment, social affairs 

2 536 
 94 
13 839 

 (10) 
 (1) 
 90 

2 526 
 93 
13 929 

 228 
 6 
 750 

2 754 
 100 
14 678 

2 608 
 97 
10 312 

and inclusion 

05 Agriculture and rural 

58 047 

 (22) 

58 025 

2 117 

60 141 

47 789 

development 

06 Mobility and transport 
07 Environment 
08 Research and Innovation 
09 Communications networks, 
content and technology 

10 Direct research 
11 Maritime affairs and 

Fisheries 

2 867 
 407 
6 215 
1 637 

 425 
1 066 

 (7) 
 1 
 (53) 
 (26) 

 (23) 
 (76) 

2 860 
 408 
6 162 
1 612 

 401 
 991 

 71 
 22 
1 031 
 148 

 580 
 30 

2 931 
 430 
7 193 
1 759 

 982 
1 021 

12 Internal market and 

 117 

 1 

 118 

 16 

 133 

services 

13 Regional and urban policy 
14 Taxation and customs union 
15 Education and culture 
16 Communication 
17 Health and consumer 

33 073 
 157 
2 820 
 246 
 618 

protection 
18 Home affairs 
19 Foreign policy instruments 
20 Trade 
21 Development and 

Cooperation 
22 Enlargement 
23 Humanitarian aid and Civil 

protection 

24 Fight against fraud 
25 Commission's policy 

coordination & legal advice 

1 201 
 733 
 121 
5 084 

1 520 
1 006 

 78 
 194 

 81 
– 
 57 
 2 
 (2) 

– 
 (55) 
 (2) 
 121 

 (45) 
 158 

 (2) 
– 

33 154 
 158 
2 877 
 248 
 616 

1 202 
 678 
 119 
5 204 

1 475 
1 164 

 77 
 194 

 354 
 7 
 453 
 11 
 27 

 41 
 61 
 3 
 264 

 13 
 75 

 1 
 11 

33 508 
 164 
3 330 
 259 
 643 

1 243 
 739 
 122 
5 469 

1 488 
1 240 

 77 
 205 

26 Commission’s 
administration 

27 Budget 
28 Audit 
29 Statistics 
30 Pensions and related 

expenditure 

31 Language Services 
32 Energy 
33 Justice 
34 Climate action 
40 Reserves 
Total 

1 001 

 (40) 

 961 

 162 

1 124 

 96 
 12 
 132 
1 450 

 388 
 933 
 203 
 121 
 456 
139 109 

 (11) 
– 
– 
 44 

 84 
 12 
 132 
1 494 

 3 
 24 
 2 
– 
 (179) 

 391 
 958 
 205 
 122 
 277 
 50  139 159 

 8 
 1 
 14 
 2 

 87 
 128 
 11 
 1 
– 
6 849 

 92 
 12 
 146 
1 495 

 478 
1 086 
 216 
 122 
 277 
146 008 

2 879 
 423 
7 002 
1 708 

 535 
 218 

 123 

17 078 
 160 
3 223 
 252 
 624 

 523 
 687 
 120 
5 353 

1 440 
1 187 

 77 
 198 

1 070 

 89 
 12 
 140 
1 493 

 444 
 990 
 209 
 122 
– 
109 418 

* Additonal appropriations include appropriations carried over from previous year,  assigned revenue and 
appropriations made available again following decommitments. 

65 

 
 
 
 
 
 
 
 
 
 
2.7.  POLICY AREA: IMPLEMENTATION OF COMMITMENT APPROPRIATIONS 

Annual accounts of the European Commission 2014 

Policy Area 

Total 
appropriation
s available 

From final 
adopted budget 

Commitments made 
From 
assigned 
revenue 

From 
carry-
overs 

Total 

% 

Appropriations carried over to 2015 
% 

Total 

Assigned 
revenue 

Carry-overs 
by decision 

Appropriations lapsing 

From final 
adopted 
budget 

From 
carry-
overs 

Assigned 
revenue 
(EFTA) 

Total 

% 

  EUR millions 

4 

5=2+3+4 

6=5/1 

7 

8 

9=7+8 

10=9/1 

11 

12 

13 

01  Economic and financial affairs 
02  Enterprise and Industry 
03  Competition 
04  Employment, social affairs and 

inclusion 

1 

 351 
2 754 
 100 
14 678 

2 

 233 
2 526 
 93 
10 139 

3 

– 
– 
– 
 168 

05  Agriculture and rural 

60 141 

46 400 

2 931 
 430 
7 193 
1 759 

 982 
1 021 
 133 
33 508 
 164 
3 330 
 259 
 643 
1 243 
 739 
 122 
5 469 
1 488 
1 240 

 77 
 205 

1 124 
 92 
 12 
 146 
1 495 

2 854 
 407 
6 162 
1 612 

 401 
 216 
 118 
17 066 
 157 
2 877 
 246 
 604 
 508 
 661 
 118 
5 195 
1 434 
1 163 

 77 
 192 

 960 
 84 
 12 
 131 
1 493 

development 

06  Mobility and transport 
07  Environment 
08  Research and Innovation 
09  Communications networks, 
content and technology 

10  Direct research 
11  Maritime affairs and Fisheries 
12  Internal market and services 
13  Regional and urban policy 
14  Taxation and customs union 
15  Education and culture 
16  Communication 
17  Health and consumer protection 
18  Home affairs 
19  Foreign policy instruments 
20  Trade 
21  Development and Cooperation 
22  Enlargement 
23  Humanitarian aid and Civil 

protection 

24  Fight against fraud 
25  Commission's policy 

coordination & legal advice 
26  Commission’s administration 
27  Budget 
28  Audit 
29  Statistics 
30  Pensions and related 

expenditure 

31  Language Services 
32  Energy 
33  Justice 
34  Climate action 
40  Reserves 
  Total 

 3 
 82 
 3 
 5 

 236 
2 608 
 97 
10 312 

67.1% 
94.7% 
97.2% 
70.3% 

 115 
 146 
 3 
 576 

– 
– 
– 
2 161 

 115 
 146 
 3 
2 737 

32.9% 
5.3% 
2.8% 
18.6% 

 0 
 0 
 0 
1 629 

1 389 

47 789 

79.5% 

 728 

2 912 

3 640 

6.1% 

8 712 

 25 
 16 
 840 
 97 

 134 
 2 
 5 
 11 
 2 
 347 
 6 
 19 
 13 
 21 
 2 
 157 
 6 
 24 

– 
 6 

 110 
 4 
 0 
 8 
– 

2 879 
 423 
7 002 
1 708 

 535 
 218 
 123 
17 078 
 160 
3 223 
 252 
 624 
 523 
 687 
 120 
5 353 
1 440 
1 187 

 77 
 198 

1 070 
 89 
 12 
 140 
1 493 

98.2% 
98.3% 
97.3% 
97.1% 

54.5% 
21.4% 
92.3% 
51.0% 
97.2% 
96.8% 
97.3% 
97.0% 
42.1% 
93.1% 
97.9% 
97.9% 
96.8% 
95.8% 

98.9% 
96.6% 

95.3% 
96.6% 
96.6% 
95.7% 
99.8% 

 46 
 6 
 191 
 51 

 447 
 28 
 10 
 343 
 5 
 106 
 5 
 7 
 26 
 34 
 2 
 107 
 6 
 52 

 1 
 5 

 52 
 3 
 0 
 5 
 2 

– 
– 
– 
– 

– 
 28 
– 
6 481 
– 
– 
– 
 7 
 247 
 15 
 0 
 7 
 40 
– 

– 
– 

– 
– 
– 
– 
– 

 46 
 6 
 191 
 51 

 447 
 56 
 10 
6 824 
 5 
 106 
 5 
 13 
 273 
 49 
 2 
 114 
 46 
 52 

 1 
 5 

 52 
 3 
 0 
 5 
 2 

1.6% 
1.4% 
2.7% 
2.9% 

45.5% 
5.5% 
7.5% 
20.4% 
2.8% 
3.2% 
1.8% 
2.1% 
22.0% 
6.6% 
1.4% 
2.1% 
3.1% 
4.2% 

1.0% 
2.5% 

4.6% 
3.4% 
3.2% 
3.7% 
0.1% 

 6 
 1 
– 
 0 

– 
 746 
 0 
9 607 
 0 
 0 
 3 
 6 
 447 
 2 
 1 
 2 
 1 
 1 

 0 
 2 

 1 
– 
 0 
 1 
 1 

– 

– 
– 
– 
– 

– 
– 
 0 
– 
– 
– 
– 
 1 
 2 
 5 
– 
 1 
– 
– 

– 
– 

 0 
– 
– 
– 
– 

 478 
1 086 
 216 
 122 
 277 
146 008 

 391 
 955 
 205 
 121 
– 
105 811 

– 
– 
– 
– 
– 
 178 

 53 
 34 
 4 
 0 
– 

 444 
 990 
 209 
 122 
– 
3 429  109 418 

92.9% 
91.1% 
96.5% 
99.4% 
0.0% 
74.9% 

 34 
 94 
 7 
 0 
– 
3 242 

– 
– 
– 
– 
 199 

 34 
 94 
 7 
 0 
 199 
12 097  15 339 

7.1% 
8.6% 
3.2% 
0.4% 
71.8% 
10.5% 

 0 
 3 
 1 
 0 
 78 
21 251 

66 

14=11+1
2+13 
 0 
 0 
 0 
1 629 

– 
– 
– 
 0 

15=14/1 

0.1% 
0.0% 
0.1% 
11.1% 

– 

8 712 

14.5% 

 0 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
 0 
– 

– 
– 

– 
– 
– 
– 
– 

 7 
 1 
– 
 0 

– 
 746 
 0 
9 607 
 0 
 0 
 3 
 6 
 447 
 2 
 1 
 2 
 1 
 1 

 0 
 2 

 1 
– 
 0 
 1 
 1 

0.2% 
0.3% 
0.0% 
0.0% 

0.0% 
73.1% 
0.1% 
28.7% 
0.0% 
0.0% 
1.0% 
0.9% 
36.0% 
0.3% 
0.7% 
0.0% 
0.1% 
0.1% 

0.1% 
0.8% 

0.1% 
0.1% 
0.2% 
0.6% 
0.0% 

 0 
– 
 3 
 0 
 1 
– 
 0 
– 
– 
 78 
 0  21 251 

0.0% 
0.3% 
0.4% 
0.2% 
28.2% 
14.6% 

– 
– 
– 
– 

– 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
– 

– 
– 

– 
– 
– 
– 
– 

– 
– 
– 
– 
– 
– 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

2.7.1. 

POLICY AREA: COMPARISON OF BUDGET AND ACTUAL COMMITMENTS 

  Policy Area 

Initial 
adopted 
budget 

Amending 
budgets  & 
transfers 

Final 
adopted 
budget 

Additional 
appropri- 
ations* 

Total 
appropria-
tions 
available 

EUR millions 

Payments 
made 

01 Economic and financial 

 297 

 2 

 300 

 129 

 429 

 306 

affairs 

02 Enterprise and Industry 
03 Competition 
04 Employment, social affairs 

2 105 
 94 
11 622 

 60 
 (1) 
 (341) 

2 165 
 93 
11 280 

 322 
 14 
 242 

2 486 
 107 
11 522 

2 237 
 96 
11 403 

and inclusion 

05 Agriculture and rural 

55 635 

 (518) 

55 117 

2 003 

57 120 

55 766 

development 

06 Mobility and transport 
07 Environment 
08 Research and Innovation 
09 Communications networks, 
content and technology 

10 Direct research 
11 Maritime affairs and 

Fisheries 

12 Internal market and 

services 

1 003 
 346 
4 107 
 961 

 420 
 780 

 117 

13 Regional and urban policy 
14 Taxation and customs union 
15 Education and culture 
16 Communication 
17 Health and consumer 

40 223 
 122 
2 242 
 245 
 567 

protection 
18 Home affairs 
19 Foreign policy instruments 
20 Trade 
21 Development and 

Cooperation 
22 Enlargement 
23 Humanitarian aid and Civil 

protection 

24 Fight against fraud 
25 Commission's policy 

coordination & legal advice 

 763 
 463 
 115 
3 658 

 904 
 851 

 75 
 195 

 1 
 1 
 (11) 
 107 

 (23) 
 8 

1 004 
 347 
4 096 
1 068 

 397 
 788 

 85 
 37 
1 525 
 275 

 552 
 35 

 (3) 

 114 

 21 

3 244 
 10 
 178 
 6 
 (13) 

 5 
 74 
 1 
 286 

 (12) 
 564 

– 
– 

43 467 
 133 
2 420 
 251 
 553 

 768 
 537 
 116 
3 944 

 892 
1 415 

 75 
 195 

 528 
 13 
 549 
 25 
 37 

 35 
 55 
 7 
 248 

 17 
 83 

 9 
 26 

1 089 
 384 
5 621 
1 343 

 949 
 823 

 134 

43 995 
 146 
2 969 
 276 
 590 

 803 
 593 
 123 
4 192 

 908 
1 498 

 84 
 221 

26 Commission’s 
administration 

27 Budget 
28 Audit 
29 Statistics 
30 Pensions and related 

expenditure 

31 Language Services 
32 Energy 
33 Justice 
34 Climate action 
40 Reserves 
Total 

 991 

 (30) 

 961 

 324 

1 285 

 96 
 12 
 152 
1 450 

 388 
 588 
 193 
 43 
 150 
131 973 

 (11) 
– 
 (21) 
 44 

 84 
 12 
 131 
1 494 

 391 
 3 
 656 
 68 
 187 
 (6) 
 52 
 9 
 (150) 
– 
3 530  135 503 

 14 
 1 
 28 
 2 

 107 
 149 
 16 
 4 
– 
7 517 

 99 
 13 
 160 
1 495 

 498 
 805 
 202 
 55 
– 
143 020 

1 037 
 362 
4 918 
1 184 

 508 
 805 

 119 

43 979 
 138 
2 673 
 257 
 571 

 789 
 552 
 118 
4 133 

 898 
1 430 

 75 
 199 

1 060 

 88 
 12 
 139 
1 493 

 445 
 733 
 193 
 50 
– 
138 768 

* Additonal appropriations include appropriations carried over from previous year,  assigned revenue and 
appropriations made available again following decommitments. 

67 

 
 
 
 
 
 
 
 
 
2.8.  POLICY AREA: IMPLEMENTATION OF PAYMENT APPROPRIATIONS 

EUR millions 

Annual accounts of the European Commission 2014 

Policy Area 

Payments made 

From final 
adopted 
budget 

From 
carry-
overs 

From 
assigned 
revenue 

Total 

% 

Appropriations carried over 
Total 

Automatic 
carry-overs 

Carry-overs 
by decision 

Assigned 
revenue 

% 

From final 
adopted 
budget 

Appropriations lapsing 
From 
carry-
overs 

Assigned 
revenue 
(EFTA) 

Total 

Total 
appropriati
ons 
available 
1 

2 

3 

4 

5=2+3+4 

6=5/1 

 7 

 8 

 9 

10=7+8+
9 

11=10/1 

12 

13 

14 

01  Economic and financial affairs 
02  Enterprise and Industry 
03  Competition 
04  Employment, social affairs and 

 429 
2 486 
 107 
11 522 

 293 
2 144 
 87 
11 226 

inclusion 

05  Agriculture and rural 

57 120 

54 224 

development 

06  Mobility and transport 
07  Environment 
08  Research and Innovation 
09  Communications networks, 
content and technology 

10  Direct research 
11  Maritime affairs and Fisheries 
12  Internal market and services 
13  Regional and urban policy 
14  Taxation and customs union 
15  Education and culture 
16  Communication 
17  Health and consumer protection 
18  Home affairs 
19  Foreign policy instruments 
20  Trade 
21  Development and Cooperation 
22  Enlargement 
23  Humanitarian aid and Civil 

protection 

1 089 
 384 
5 621 
1 343 

 949 
 823 
 134 
43 995 
 146 
2 969 
 276 
 590 
 803 
 593 
 123 
4 192 
 908 
1 498 

 997 
 330 
4 080 
1 052 

 353 
 782 
 109 
43 456 
 128 
2 405 
 241 
 543 
 762 
 527 
 113 
3 917 
 885 
1 405 

24  Fight against fraud 
25  Commission's policy coordination 

 84 
 221 

 68 
 180 

& legal advice 

26  Commission’s administration 
27  Budget 
28  Audit 
29  Statistics 
30  Pensions and related expenditure 
31  Language Services 
32  Energy 
33  Justice 
34  Climate action 
40  Reserves 
  Total 

1 285 
 99 
 13 
 160 
1 495 
 498 
 805 
 202 
 55 
– 

 833 
 79 
 11 
 126 
1 493 
 377 
 650 
 183 
 48 
– 
143 020  134 108 

 7 
 12 
 7 
 48 

 20 

 5 
 18 
 28 
 15 

 47 
 4 
 5 
 390 
 6 
 11 
 13 
 11 
 4 
 2 
 3 
 23 
 4 
 8 

 6 
 13 

 150 
 6 
 0 
 5 
– 
 19 
 4 
 3 
 2 
– 
 902 

 5 
 81 
 3 
 129 

 306 
2 237 
 96 
11 403 

71.2% 
90.0% 
90.0% 
99.0% 

1 522 

55 766 

97.6% 

 35 
 15 
 810 
 117 

 108 
 19 
 5 
 133 
 3 
 257 
 4 
 17 
 22 
 24 
 2 
 193 
 9 
 17 

 0 
 5 

1 037 
 362 
4 918 
1 184 

 508 
 805 
 119 
43 979 
 138 
2 673 
 257 
 571 
 789 
 552 
 118 
4 133 
 898 
1 430 

95.2% 
94.5% 
87.5% 
88.2% 

53.6% 
97.8% 
88.6% 
100.0% 
94.7% 
90.1% 
93.3% 
96.7% 
98.2% 
93.2% 
95.9% 
98.6% 
98.8% 
95.4% 

 75 
 199 

88.6% 
90.1% 

 77 
 3 
 0 
 8 
– 
 49 
 79 
 7 
 0 
– 

1 060 
 88 
 12 
 139 
1 493 
 445 
 733 
 193 
 50 
– 
3 758  138 768 

82.5% 
89.2% 
92.6% 
86.9% 
99.8% 
89.5% 
91.0% 
95.1% 
91.1% 
0.0% 
97.0% 

68 

 7 
 18 
 7 
 15 

 23 

 5 
 16 
 16 
 16 

 43 
 3 
 4 
 11 
 4 
 13 
 10 
 10 
 3 
 4 
 3 
 25 
 6 
 7 

 7 
 13 

 128 
 6 
 0 
 5 
 0 
 14 
 5 
 3 
 3 
– 
 452 

– 
– 
– 
 36 

 116 
 227 
 3 
 62 

 122 
 245 
 10 
 112 

28.5% 
9.9% 
9.5% 
1.0% 

 868 

 459 

1 350 

2.4% 

– 
– 
– 
– 

– 
– 
– 
– 
– 
– 
 0 
– 
– 
 6 
– 
– 
– 
 3 

 0 
– 

 44 
 4 
 680 
 142 

 389 
 11 
 10 
 3 
 3 
 280 
 7 
 8 
 8 
 29 
 2 
 29 
 3 
 58 

 1 
 6 

– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
 913 

 87 
 4 
 0 
 15 
 2 
 38 
 63 
 5 
 1 
– 
2 799 

 49 
 20 
 696 
 158 

 433 
 14 
 14 
 14 
 7 
 293 
 17 
 18 
 12 
 39 
 5 
 54 
 9 
 68 

4.5% 
5.2% 
12.4% 
11.7% 

45.6% 
1.7% 
10.1% 
0.0% 
5.1% 
9.9% 
6.2% 
3.0% 
1.5% 
6.6% 
3.9% 
1.3% 
1.0% 
4.5% 

 7 
 19 

8.8% 
8.5% 

 215 
 10 
 1 
 20 
 2 
 52 
 69 
 8 
 4 
– 
4 164 

16.7% 
10.3% 
6.7% 
12.2% 
0.1% 
10.4% 
8.5% 
4.1% 
6.4% 
0.0% 
2.9% 

 0 
 3 
 0 
 4 

 2 

 2 
 1 
– 
 0 

– 
 3 
 1 
 0 
 0 
 1 
 0 
 0 
 2 
 0 
 0 
 1 
 1 
 1 

 0 
 2 

 1 
 0 
 0 
– 
 1 
 0 
 1 
 1 
 1 
– 
 29 

 1 
 2 
 0 
 2 

 2 

 1 
 0 
 8 
 1 

 8 
 1 
 0 
 1 
– 
 1 
 1 
 2 
 0 
 1 
– 
 3 
 1 
 0 

 2 
 1 

 10 
 0 
 0 
 1 
– 
 1 
 1 
 1 
 1 
– 
 56 

– 
– 
– 
– 

– 

 0 
– 
– 
 0 

– 
– 
– 
– 
– 
– 
– 
 0 
– 
– 
– 
– 
 0 
 0 

– 
– 

– 
– 
– 
– 
– 
– 
 2 
– 
– 
– 
 2 

% 

16=15/1 

0.3% 
0.2% 
0.5% 
0.1% 

0.0% 

0.2% 
0.3% 
0.1% 
0.1% 

0.8% 
0.5% 
1.3% 
0.0% 
0.2% 
0.1% 
0.5% 
0.3% 
0.4% 
0.2% 
0.3% 
0.1% 
0.2% 
0.1% 

2.7% 
1.4% 

0.8% 
0.5% 
0.8% 
0.8% 
0.0% 
0.2% 
0.4% 
0.8% 
2.4% 
0.0% 
0.1% 

15= 
12+13 
+14 
 1 
 4 
 1 
 6 

 4 

 2 
 1 
 8 
 1 

 8 
 4 
 2 
 2 
 0 
 2 
 1 
 2 
 3 
 1 
 0 
 5 
 2 
 1 

 2 
 3 

 11 
 1 
 0 
 1 
 1 
 1 
 4 
 2 
 1 
– 
 88 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
   
 
2.9.  POLICY AREA: MOVEMENTS IN COMMITMENTS OUTSTANDING 

Annual accounts of the European Commission 2014 

Policy Area 

Commitments outstanding at end of the previous year 

Commitments of the year 

Commitments 
carried forward 
from previous 
year 

Decommitments 
/Revaluations/Canc
ellations 

Payments  

Commitments 
outstanding at 
year-end 

Commitments 
made during the 
year 

Payments 

Cancellation  
commitments 
which cannot be 
carried over 

Commitments 
outstanding at 
year-end 

EUR millions 

Total 
commitments 
outstanding at 
year-end 

01  Economic and financial affairs 
02  Enterprise and Industry 
03  Competition 
04  Employment, social affairs and 

inclusion 

05  Agriculture and rural development 
06  Mobility and transport 
07  Environment 
08  Research and Innovation 
09  Communications networks, content 

and technology 
10  Direct research 
11  Maritime affairs and Fisheries 
12 
Internal market and services 
13  Regional and urban policy 
14  Taxation and customs union 
15  Education and culture 
16  Communication 
17  Health and consumer protection 
18  Home affairs 
19 
20  Trade 
21  Development and Cooperation 
22  Enlargement 
23  Humanitarian aid and Civil protection 
24 
25  Commission's policy coordination & 

Foreign policy instruments 

Fight against fraud 

legal advice 

26  Commission’s administration 
27  Budget 
28  Audit 
29  Statistics 
30  Pensions and related expenditure 
31 
32  Energy 
33 
Justice 
34  Climate action 
40  Reserves 

Language Services 

Total 

 739 
1 855 
 8 
27 559 

25 354 
3 994 
1 055 
12 907 
2 823 

 202 
2 360 
 21 
112 172 
 106 
2 387 
 125 
 616 
1 992 
 770 
 21 
15 617 
3 206 
 918 
 38 
 15 

 201 
 7 
 1 
 113 
– 
 20 
4 434 
 183 
 36 
– 
221 853 

 (3) 
 (23) 
– 
 (344) 

 (70) 
 (188) 
 (22) 
 (161) 
 (42) 

 (21) 
 (202) 
 (3) 
(1 033) 
 (5) 
 (58) 
 (9) 
 (134) 
 (141) 
 (42) 
 (1) 
 (457) 
 (79) 
 (5) 
 (9) 
 (1) 

 (11) 
– 
– 
 (9) 
– 
 (1) 
 (274) 
 (18) 
 (1) 
– 
(3 366) 

 (122) 
 (724) 
 (7) 
(10 165) 

(11 148) 
 (867) 
 (245) 
(3 551) 
(1 000) 

 (122) 
 (683) 
 (14) 
(43 087) 
 (65) 
 (989) 
 (92) 
 (271) 
 (431) 
 (367) 
 (13) 
(3 266) 
 (804) 
 (654) 
 (21) 
 (14) 

 (177) 
 (6) 
– 
 (58) 
– 
 (19) 
 (648) 
 (81) 
 (20) 
– 
(79 734) 

 615 
1 109 
– 
17 049 

14 136 
2 939 
 788 
9 194 
1 781 

 59 
1 475 
 3 
68 052 
 36 
1 341 
 24 
 211 
1 421 
 360 
 7 
11 894 
2 323 
 259 
 8 
– 

 13 
– 
– 
 46 
– 
– 
3 512 
 84 
 14 
– 
138 753 

 236 
2 608 
 97 
10 312 

47 789 
2 879 
 423 
7 002 
1 708 

 535 
 218 
 123 
17 078 
 160 
3 223 
 252 
 624 
 523 
 687 
 120 
5 353 
1 440 
1 187 
 77 
 198 

1 070 
 89 
 12 
 140 
1 493 
 444 
 990 
 209 
 122 
– 
109 418 

 (184) 
(1 513) 
 (89) 
(1 238) 

(44 618) 
 (170) 
 (117) 
(1 367) 
 (184) 

 (386) 
 (122) 
 (105) 
 (892) 
 (73) 
(1 684) 
 (165) 
 (300) 
 (358) 
 (185) 
 (105) 
 (867) 
 (94) 
 (775) 
 (54) 
 (185) 

 (883) 
 (82) 
 (12) 
 (81) 
(1 493) 
 (426) 
 (85) 
 (112) 
 (30) 
– 
(59 034) 

– 
– 
– 
– 

– 
– 
– 
 (3) 
– 

– 
– 
– 
– 
– 
– 
– 
– 
– 
 (1) 
– 
– 
 (1) 
– 
– 
– 

– 
– 
– 
– 
– 
– 
– 
– 
– 
– 
 (5) 

 52 
1 095 
 7 
9 074 

3 171 
2 708 
 306 
5 631 
1 524 

 149 
 96 
 19 
16 185 
 86 
1 539 
 86 
 324 
 165 
 501 
 15 
4 486 
1 346 
 412 
 23 
 14 

 187 
 7 
 0 
 59 
– 
 18 
 904 
 97 
 91 
– 
50 379 

 667 
2 204 
 7 
26 124 

17 308 
5 647 
1 093 
14 826 
3 305 

 208 
1 571 
 22 
84 237 
 122 
2 879 
 110 
 535 
1 586 
 862 
 22 
16 379 
3 669 
 671 
 31 
 14 

 201 
 7 
 0 
 105 
– 
 18 
4 416 
 181 
 105 
– 
189 132 

69 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual accounts of the European Commission 2014 

2.10.  POLICY AREA: BREAKDOWN OF COMMITMENTS OUTSTANDING BY YEAR OF ORIGIN 

Policy Area 

<2008 

2008 

2009 

2010 

2011 

2012 

2013 

2014 

EUR millions 
Total 

01  Economic and financial affairs 
02  Enterprise and Industry 
03  Competition 
04  Employment, social affairs and 

inclusion 

05  Agriculture and rural development 
06  Mobility and transport 
07  Environment 
08  Research and Innovation 
09  Communications networks, content 

and technology 
10  Direct research 
11  Maritime affairs and Fisheries 
12 
Internal market and services 
13  Regional and urban policy 
14  Taxation and customs union 
15  Education and culture 
16  Communication 
17  Health and consumer protection 
18  Home affairs 
19 
20  Trade 
21  Development and Cooperation 
22  Enlargement 
23  Humanitarian aid and Civil protection 
24 
25  Commission's policy coordination & 

Foreign policy instruments 

Fight against fraud 

legal advice 

26  Commission’s administration 
27  Budget 
28  Audit 
29  Statistics 
30  Pensions and related expenditure 
31 
32  Energy 
33 
Justice 
34  Climate action 
40  Reserves 

Language Services 

Total 

 30 
 14 
– 
 538 

 150 
 84 
 28 
 62 
 16 

 5 
 160 
– 
2 439 
– 
 27 
– 
 1 
 12 
 4 
– 
 500 
 111 
 2 
 0 
– 

– 
– 
– 
 1 
– 
– 
 25 
– 
– 
– 
4 211 

– 
 13 
– 
 6 

– 
 23 
 49 
 86 
 13 

 5 
 1 
 0 
 197 
– 
 34 
 0 
 6 
 23 
 6 
– 
 450 
 76 
 8 
 1 
– 

– 
– 
– 
 0 
– 
– 
 36 
 0 
– 
– 
1 034 

 0 
 34 
– 
 70 

 0 
 128 
 84 
 226 
 54 

 2 
 7 
 0 
 249 
– 
 44 
 0 
 18 
 53 
 13 
– 
 708 
 109 
 13 
 1 
– 

– 
– 
– 
 0 
– 
– 
 770 
 1 
– 
– 
2 586 

 0 
 54 
– 
 189 

 0 
 238 
 105 
 477 
 82 

 4 
 10 
 1 
1 871 
 0 
 66 
 1 
 30 
 120 
 23 
 0 
1 061 
 227 
 25 
 0 
– 

 0 
– 
– 
 1 
– 
– 
1 349 
 2 
 0 
– 
5 937 

 160 
 192 
– 
1 603 

 183 
 588 
 146 
1 288 
 183 

 4 
 43 
 0 
6 732 
 2 
 164 
 1 
 23 
 217 
 44 
 0 
1 825 
 410 
 26 
 0 
– 

 0 
– 
– 
 4 
– 
– 
 411 
 11 
 1 
– 
14 261 

 178 
 349 
– 
4 687 

3 061 
 746 
 174 
2 840 
 516 

 11 
 514 
 0 
18 311 
 9 
 391 
 2 
 30 
 425 
 108 
 2 
3 245 
 606 
 33 
 2 
– 

 1 
– 
– 
 12 
– 
– 
 386 
 18 
 3 
– 
36 658 

 246 
 452 
– 
9 956 

10 742 
1 132 
 201 
4 216 
 917 

 29 
 739 
 2 
38 253 
 25 
 615 
 20 
 103 
 571 
 162 
 4 
4 106 
 784 
 151 
 4 
– 

 12 
– 
– 
 28 
– 
– 
 534 
 52 
 11 
– 
74 066 

 52 
1 095 
 7 
9 074 

3 171 
2 708 
 306 
5 631 
1 524 

 149 
 96 
 19 
16 185 
 86 
1 539 
 86 
 324 
 165 
 501 
 15 
4 486 
1 346 
 412 
 23 
 14 

 187 
 7 
 0 
 59 
 (0) 
 18 
 904 
 97 
 91 
– 
50 379 

 667 
2 204 
 7 
26 124 

17 308 
5 647 
1 093 
14 826 
3 305 

 208 
1 571 
 22 
84 237 
 122 
2 879 
 110 
 535 
1 586 
 862 
 22 
16 379 
3 669 
 671 
 31 
 14 

 201 
 7 
 0 
 105 
– 
 18 
4 416 
 181 
 105 
– 
189 132 

70