1. Data collection with XBRL Different solutions for different requirements
Bertrand Jadoul
Central Balance Sheet Office
Rogier Vanherpe
Statistics department
Workshop Eurostat
Luxembourg, 23th March 2012

2. Agenda Introduction XBRL for annual accounts filing
XBRL for supervisory reporting
Conclusion

3. What is XBRL? eXtensible Business Reporting Language
Electronic reporting format based on XML for the exchange of data through the internet, limiting manipulation as much as possible
XBRL adds a conceptual layer to XML
Repository of concepts
Financial reporting vocabularies
Mathematical relationships
Human representation
Multi dimensional financial data representations

4. Data collection whith XBRL
Concept
XBRL Taxonomy
Where we design the data about the data
Data
Facts
XBRL Instance
XBRL Files
Database
Dissemination
Individual information
Assets
Cash
Investment
Other
Cash
Analysis
Statistics

5. Data collection whith XBRL
XBRL Instance
<?xml version="1.0" encoding="UTF-8"?>
<xbrli:xbrl xmlns:iso4217=" xmlns:link=" xmlns:pfs=" xmlns:xbrli=" xmlns:xlink=" <link:schemaRef xlink:href="pfs-abbr xsd" xlink:type="simple"/>
<xbrli:context id="CurrentInstant"> <xbrli:entity> <xbrli:identifier scheme=" </xbrli:entity> <xbrli:period> <xbrli:instant> </xbrli:instant> </xbrli:period> </xbrli:context> <xbrli:unit id="U-EUR"> <xbrli:measure>iso4217:EUR</xbrli:measure> </xbrli:unit>
<pfs:Assets contextRef="CurrentInstant" decimals="INF" unitRef="U-EUR">1</pfs:Assets>
<pfs:EquityLiabilities contextRef="CurrentInstant" decimals="INF" unitRef="U-EUR">1</pfs:EquityLiabilities>
</xbrli:xbrl>

6. Data collection with XBRL
Issues
Which taxonomy and how to create it?
Which tools for data entry and filing of instance XBRL?
Wich data processing and dissemination?
Need a close collaboration between business experts and IT experts to define the best solution in function of the business requirements

7. Data collection with XBRL
Adoption of XBRL in Belgium
National bank of Belgium
Banking supervisor - FINREP/COREP (2006)
Central Balance sheet office - Annual accounts (2007)
Insurance supervisor (Solvency II) ( )
Federal public services (FPS)
Business surveys (2009)
Companies income tax (2011)
NBB projects led to different solutions, because of different timing and requirements

8. Agenda Introduction XBRL for annual accounts filing
XBRL for supervisory reporting
Conclusion

9. Annual accounts – Legal context
Missions Central Balance Sheet Office (transposition of European Directives)
gathering and dissemination of (information contained in) individual annual accounts
handling standardized data for drawing up overall statistics
Filing obligations for more than enterprises and Non Profit Organisations

10. Annual accounts – XBRL project
Beginning of 2004: annual accounts are filed on paper, on floppy disc and via the Internet
Decision of CBSO to switch to XBRL to
obtain data in a standard format
simplify maintenance and reduce maintenance (and in consequence filing) costs
create a more efficient and flexible filing process
2005 : first taxonomy
2007 : first annual accounts of Belgian enterprises filed in XBRL format

11. Annual accounts – Requirements (1)
PDF rendering to reproduce the formal layout of annual accounts for official publication and consultation by the public
Annual accounts include non standard parts
Auditor report
PDF documents
Administrators list
Insert most of the rendering parameters in the taxonomy instead of managing them outside
Allow multilingualism

12. Annual accounts – Requirements (2)
A few models of annual account revised each year
Definition of the business in the hand of CBSO
Minimize annual IT development
Large volume of annual accounts requires high performance
User friendly filing process for a broad public without IT skills
Acceptance of annual accounts if payment of filing fees within 7 days after filing

13. Annual accounts – XBRL Taxonomy
BE-GAAP Taxonomy
Current linkbases for annual accounts
Presentation
Label
Reference
Linkbases not available in 2007 and wich could be used in the near future
Formula
Versioning
Linkbases not planned to be used in the near future
Definition (dimensions)
Rendering

14. Annual accounts – XBRL Taxonomy
Entry points
CBSO (NBB)
FPS Economy
FPS Finance
Building
blocks
Core taxonomies
Formulas
CBSO (NBB)
FPS Econ.
FPS Fin.
Dimensions
Data types
Global common document (*)
* identification data

15. Annual accounts – XBRL Taxonomy

16. Annual accounts – Data entry / Filing
In-house specific applications for data entry (Sofista) and filing of annual accounts with XBRL
Sofista
Filing
Upload
( Ö ) Ö
Data entry
Validation
Payment
Rendering
Data consuming

17. Software package (private)
Annual accounts – Data entry / Filing
WWW
PDF
Software package (private) 3D
certificate
Instance
document
Taxonomy
Filing
Application
XBRL
files 3D
certificate
Data Entry CBSO
This slides shows the general process of the CBSO project for filing annual accounts:
Taxonomy is used by programs (NBB Web application called Sofista or private software packages) in order to produce a valid Instance document containing the data.
This XBRL Instance document is uploaded on the CBSO website and has to be validated by a program (Validator icon).
Access to the NBB applications (Data Entry and Filing) is linked to a digital certificate.
Valid Instance documents are accepted, converted into PDF file (Rendering icon) and spread to any interested people.
The data are loaded into the database to be handled for statistical purpose.
In the near future, xbrl instance documents could be also available on the CBSO website.
Database
Validator
Data Entry
(Sofista)
Rendering
CBSO

18. Annual accounts – Data entry / Filing
Data entry (Sofista)

19. Annual accounts – Data entry / Filing
Rendering (Sofista / Filing)

20. Annual accounts – Data entry / Filing
annual accounts filed in 2011, of which
0,5 % on paper
2,1 % in form of a PDF file
97,4 % in form of an XBRL file

21. Annual accounts – Data entry / Filing
Filing per days (2009)
Peak period end augustus
One filing each 2 seconds

22. Annual accounts – Output
PDF
XBRL Files
PDF, XBRL files
Free of charge online
Website
Accounting data
Webservice
DVD Data
CBSO sectoral statistics
CD-Rom
Website
CBSO Database
CBSO Company report
Paper
Website (12/2012)
CBSO
Datawarehouse
Business survey (FPS Eco)
CBSO / NBB
Statistics on demand
BACH, BACH-ESD
Analysis
Accounting data
Database
XBRL Business survey
National accounts Database
National accounts statistics (NBB)

23. Annual accounts – Output
Online consultations per month
Januari consultation
February 2008
Start free of charge application
Volume x 2

24. Agenda Introduction XBRL for annual accounts filing
XBRL for supervisory reporting
Conclusion

25. Supervisory reporting – Context
Financial Reporting based on IFRS (FINREP)
30/03/2005: Belgian FINREP reporting framework
12/08/2005: Belgian FINREP taxonomy published
01/01/2006: First Belgian XBRL reporting
[XBRL = mandatory]
01/01/2007: European framework & taxonomy

26. Supervisory reporting – Context
Common Reporting of the new Solvency ratio (COREP)
01/01/2007: Application of COREP is optional (10%).
01/01/2008: Application of COREP is mandatory
150 institutions of which almost 50% banks
Applying COREP = applying XBRL

27. Supervisory reporting - Requirements
Flexibility
Answer to rapidly changing needs : FINREP, COREP
Shielding complex XBRL-taxonomy
Declarers can easily report
Regulators can easily handle the data
Safety
Reliability
Few (or even no) IT-involvement

28. Supervisory reporting - OneGate
Internal Application
External Application
Manage Reporting Obligations
Define (XBRL-)Reports
Different Roles, Different Access
Send Messages
Security
Data Entry
Manual
File Upload (CSV, XML, XBRL)
Fulfill Report Obligations
Send Messages

29. Supervisory reporting - OneGate
Make this cell unavailable
... but only for some users
This value is retreived from another reporting
If the value in this cell is not conform some rule, alert the declarer.
This cell is the sum of all the above cells
How long does it take to define a simple form and make it accessible to a user?
How large is the IT-investment?

30. Supervisory reporting - XBRL in Onegate
Introduction of XBRL: OneGate acts as a buffer, absorbing a taxonomy and releasing a user-friendly interface.
XBRL - concepts
Dimension Linkbase
Past Evolutions of XBRL: With each new XBRL-standard, OneGate evolves.
FINREP Introduction of Concepts
COREP Introduction of Dimensions

31. Supervisory reporting - Current Projects around XBRL
Next Evolutions in XBRL (and OneGate):
Formula Linkbase
Rendering Linkbase
CSV-import
OneGate is ready for these future taxonomies and XBRL evolutions
New FINREP & COREP (01/01/2013)
Solvency II (01/06/2013)

32. Agenda Introduction XBRL for annual accounts filing
XBRL for supervisory reporting
Conclusion

33. Conclusion XBRL is a flexible language that makes the business easier
XBRL enhance standardisation and reduce maintenance costs
Use of XBRL needs a close collaboration between business experts and IT experts to define the best solutions in function of the business requirements
XBRL was in our opinion a good choice:
Thanks to XBRL, effective cost reduction for companies can be estimated to 17,3 millions EUR but it could easily reach 37 millions EUR , eliminating the residual paper for standardized annual accounts and removing the publication of filing notice to the Official Gazette
Driven by the NBB, XBRL has been an accelerator, speeding up the synergies between regulators,
The Belgian authorities made the choice of instruments generally considered as best practices in administrative simplification
the application of the "only-once principle"
the use of information and communication technologies, such as the Internet and the XBRL technology.
Combining Internet and XBRL has demonstrated us that it is possible to follow the "ask only once" principle and to keep benefits from detailed financial reporting.

34. Conclusion
Implementation of XBRL may vary from one project to another depending on requirements
Answer the three issues
Which taxonomy and how to create it?
Which tools for data entry and filing of instance XBRL?
Wich data processing and dissemination?
XBRL was in our opinion a good choice:
Thanks to XBRL, effective cost reduction for companies can be estimated to 17,3 millions EUR but it could easily reach 37 millions EUR , eliminating the residual paper for standardized annual accounts and removing the publication of filing notice to the Official Gazette
Driven by the NBB, XBRL has been an accelerator, speeding up the synergies between regulators,
The Belgian authorities made the choice of instruments generally considered as best practices in administrative simplification
the application of the "only-once principle"
the use of information and communication technologies, such as the Internet and the XBRL technology.
Combining Internet and XBRL has demonstrated us that it is possible to follow the "ask only once" principle and to keep benefits from detailed financial reporting.

35. Contacts http://www.nbb.be XBRL Belgium http://www.xbrl.be
National bank of Belgium
Central balance sheet office
General statistics department