XBRL for regulatory reporting in Belgium Camille Dümm Central Balance Sheet Office (CBSO) Update on the CBSO latest developments and related projects

Agenda  Context  CBSO Project - Objectives and timing  CBSO Project - Taxonomy  CBSO Project - Processes  Related projects

The CBSO at a glance  Legal context:  Gathering and individual spreading of annual accounts  Drawing up statistics based on data contained in annual accounts

The CBSO at a glance  In practice:  The Central Balance Sheet Office collects annual accounts from non financial companies  85% of them are already in electronic format (text file)  Transition to IAS/IFRS to foresee:  For consolidated accounts of quoted companies: 160 companies concerned  For statutory accounts

The CBSO at a glance 1993 Introducing filing of annual accounts on floppy disk (text file) - Mandatory structure for those who choose electronic filing 2000Spreading on microfilm abandoned in favor of images-CD (PDF file) 2002Supplying copies of filed annual accounts through the Internet 2004Filing annual accounts through the Internet

The CBSO at a glance

Current processing of annual accounts Electronic Paper Images database Quality Check Scanning Validation Data entry Accounting data Data loading Images CD PDF file Text file Output Paper Image CD Internet Figures Studies Statistics

Agenda  Context  CBSO Project - Objectives and timing  CBSO Project - Taxonomy  CBSO Project - Processes  Related projects

The CBSO Project - Why XBRL  Purposes of the XBRL project  Introduce flexibility in the process  Make the maintenance easier  Harmonization of the data format and exchange with other regulators  Prepare the electronic filing of annual accounts drawn up according to IAS/IFRS

CBSO Project - Stages 03/2005 Draft Taxonomy presentation to the members of the Belgian jurisdiction 09/2005 Feedback analysis and new taxonomy architecture 01/2006Official publication of the Taxonomy be-fr-pfs-ci on the website 2006Adaptation of the internal process (data entry via Internet, validation, rendering) 04/2007The proprietary standard currently used by NBB will be replaced by XBRL

Agenda  Context  CBSO Project - Objectives and timing  CBSO Project - Taxonomy  CBSO Project - Processes  Related projects

CBSO Project - Taxonomy description  be-fr-pfs-ci  According to Belgian GAAP  Financial Reporting  Primary Financial Statements  Commercial and Industry  Technical assumptions  Compliant spec 2.1 and FRTA  Multilingual  Modular structure

CBSO Project - Taxonomy architecture

CBSO Project - Website

CBSO Project - Available information  All taxonomy files  Instance documents  Use cases  Empty instance documents according to the format (full or abbreviated)  A DecisionSoft viewer allowing to visualise the taxonomy in a user-friendly way

CBSO Project - Available information  The new template for the filing of annual accounts  The PDF file  A reference manual explaining the differences in the new layout  A technical protocol  Containing the constraints and requirements which cannot be integrated in the taxonomy

Agenda  Context  CBSO Project - Objectives and timing  CBSO Project - Taxonomy  CBSO Project - Processes  Related projects

CBSO Project - Process Taxonomy Data Entry CBSO Validator Upload Instance document Software package (private) PDF Database XBRL files

CBSO Project - Modules  Publication according to the legal mission  Template published by the NBB based on elements clearly defined in the law  Data processed in order to draw up statistics  Data must be validated through arithmetical and logical checks  The CBSO has developed a software used to input the data of annual accounts as alternative to private software  The output is a file compliant with the legal requirements

CBSO Project - Modules  Rendering  PDF files as output  Restrictive layout of the annual accounts  Use of metadata and pre-coded forms  Objectives  to insert most of the rendering parameters in the taxonomy instead of managing them outside,  to allow multilingualism  to reduce processing time when there is a new taxonomy version.

Rendering structure be-fr-pfs-ci presentation.xml 1 XSL Transformation be-fr-pfs-ci reference.xml be-fr-pfs-ci label.xml 1 XSL Transformation 1 XSL Transformation.../out/presentation.xml.../out/reference.xml.../out/label.xml Company.xml PresentationInstructions.xml 2* XSL Transformation 4 XSL-FO 3 XSL Transformation TransformedCompany.xml Company.pdf Taxonomy linkbases Instance Document To execute at each taxonomy version To produce a PDF file * one file per form and per language

CBSO Project - Modules  Validation of instance documents  XML validation (well formed document)  XBRL validation (according to the taxonomy)  CBSO validation (supplementary protocol)  "In-house" developments  Too many specific checks  Waiting for "Formula" linkbase  To be integrated in a whole process

CBSO Project - Modules  "Data entry" application - SOFISTA-XBRL  Web application  Manual entry or upload  Validation included  Visualisation  "In house" developments  Based on the taxonomy for "standard" sections  Based on metadata for "specific" sections  Principles reused for Rendering module

Agenda  Context  CBSO Project - Objectives and timing  CBSO Project - Taxonomy  CBSO Project - Processes  Related projects

Related projects  Federal Public Service Economy  Directorate-general Statistics and Economic Information  Federal Public Service Finance  Annual accounts as annex of tax declaration

Directorate-general Statistics and Economic Information  Context:  Since 1996, the DSEI (former NIS) collects annually detailed data from companies about activity, employment, investments, based on the annual accounts  As from 2007, XBRL will be used to fill in the annual survey about companies' structure  Objectives:  To promote electronical reporting  To reduce the administrative burden for companies

Directorate-general Statistics and Economic Information  Methodology:  Development of a specific taxonomy based on the NBB taxonomy  Result:  "On line" application

Contacts  National Bank of Belgium Central Balance Sheet Office  Directorate-general Statistics and Economic Information