Glossary:Value of output - EBS
Value of output represents the value of the total output of the statistical unit, generated during the reference period.
For all activities except for activities of NACE 64, 65 and 66 it is the sum of:
+ Net turnover, ± Change in stock of finished goods and work in progress, ± Change in stock of goods for resale, + Income from product- or turnover-related subsidies and + Capitalised output – Purchases of goods and services purchased for resale.
Income from product- or turnover-related subsidies is any income originating from government assistance granted to and recognised as such by the statistical unit during the reference period. Capitalised output is the total increase of all self-generated long-term assets, recognised as such by the statistical unit during the reference period.
For the activities of NACE K6411 value of output is defined as other administrative expenses than staff costs plus fees and commission expenses plus staff costs plus depreciation of tangible and intangible fixed assets.
For the activities of NACE K6419 and K649 value of output is defined as interest receivable and similar income minus Interest payable and similar charges plus Commissions receivable plus Income from shares and other variable-yield securities plus Net profit or net loss on financial operations plus Income from product or turnover related subsidies. For some activities of K6499 value of output is net turnover plus subsidies or government grants or can be approximated by the total operating costs, if net turnover is not available the financial statements.
For the activities of NACE K642 and K643 value of output is net turnover plus subsidies or government grants or can be approximated by the total operating cost, if net turnover is not available in the financial statements.
For the activities of NACE K6511 value of output is defined as Gross premiums earned plus Investment income minus Income from participating interest minus value re-adjustments on investments plus Investment income of reinsurers on their share of the gross technical provisions of the enterprise plus Unrealised gains on investments plus Other technical income, net of reinsurance minus Claims paid plus/minus Change in the provision for claims (increase needs to be subtracted, decrease needs to be added) plus/minus Changes in other technical provisions net of reinsurance (costs need to be subtracted, income should be added) plus/minus (If available) Changes in other technical provisions, reinsurers’ share (costs needs to be subtracted, income needs to be added) plus/minus (If available) Change in fund for future appropriations (costs should be subtracted, income should be added) minus Bonuses and rebates, net of reinsurance minus losses on the realisation of investments minus unrealised loss on investments plus other income.
For the activities of NACE K6512 and K652 value of output is defined as Gross premiums earned plus Investment income minus Income from participating interests minus Value re-adjustments on investments plus Investment income of reinsurers on their share of the gross technical provisions of the enterprise plus Other technical income, net of reinsurance plus Other income minus Claims paid plus/minus Change in the provision for claims (increase needs to be subtracted, decrease needs to be added) minus Losses on the realisation on investments minus Bonuses and rebates, net amount plus/minus Change in the equalisation provision (costs should be subtracted, income need to be added) plus/minus Changes in other technical provisions, not shown under other headings (costs should be subtracted, income should be added).
For the activities of NACE K653 value of output is defined as net turnover minus insurance premiums payable plus investment income plus other income plus insurance claims receivable minus total expenditure on pensions minus net change in technical provisions (increases in technical provisions are to be subtracted from value of output and decreases added). Alternatively, the value of output can be calculated as sum of costs.
For activities of NACE K66 for which net turnover is not available in the financial statements, value of output is defined as interest receivable and similar income minus interest payable and similar charges plus commissions receivable plus income from shares and other variable-yield securities plus net profit or net loss on financial operations plus income from product or turnover related subsidies.
For the activities of NACE K66 for which net turnover is available in the financial statements, value of output is defined as net turnover plus capitalised output plus income from product or turnover related subsidies.