| Disclosure of income and expenses [text block] | 22 Income and expenses 22.1 Revenue 22.1.1 Disaggregated revenue information
For the year ended December 31, 2021
in 000€ Materialise Materialise Materialise Total Unallocated Consolidated
Geographical markets
United States of America (USA) 11,981 38,507 18,652 69,140 — 69,140
Americas other than USA 501 4,576 1,220 6,297 — 6,297
Europe (without Belgium) & Africa 18,749 22,098 62,683 103,530 — 103,530
Belgium 235 1,177 5,535 6,947 — 6,947
Asia Pacific 11,436 7,010 1,090 19,536 — 19,536
Total revenue from contracts with customers 42,902 73,368 89,180 205,450 — 205,450
Type of goods or service
Software revenue (non-medical) 42,902 — — 42,902 — 42,902
Software revenue (medical) — 22,856 — 22,856 — 22,856
Medical devices and services — 50,512 — 50,512 — 50,512
Manufacturing — — 89,180 89,180 — 89,180
Other — — — — — —
Total revenue from contracts with customers 42,902 73,368 89,180 205,450 — 205,450
Timing of revenue recognition
Goods/Services transferred at a point in time 19,832 54,355 85,448 159,635 — 159,635
Goods/Services transferred over time 23,070 19,013 3,732 45,815 — 45,815
Total revenue from contracts with customers 42,902 73,368 89,180 205,450 — 205,450
For the year ended December 31, 2020
in 000€ Materialise Materialise Materialise Total Unallocated Consolidated
Geographical markets
United States of America (USA) 11,939 28,173 7,153 47,265 — 47,265
Americas other than USA 533 4,504 260 5,297 — 5,297
Europe (without Belgium) & Africa 15,702 20,781 56,840 93,323 — 93,323
Belgium 112 2,335 4,570 7,017 31 7,048
Asia Pacific 10,768 5,936 812 17,516 — 17,516
Total revenue from contracts with customers 39,054 61,729 69,635 170,418 31 170,449
Type of goods or service
Software revenue (non-medical) 39,054 — — 39,054 — 39,054
Software revenue (medical) — 19,808 — 19,808 — 19,808
Medical devices and services — 41,921 — 41,921 — 41,921
Manufacturing — — 69,635 69,635 — 69,635
Other — — — — — —
Total revenue from contracts with customers 39,054 61,729 69,635 170,418 31 170,449
Timing of revenue recognition
Goods/Services transferred at a point in time 15,536 46,286 66,824 128,646 31 128,677
Goods/Services transferred over time 23,518 15,443 2,811 41,772 — 41,772
Total revenue from contracts with customers 39,054 61,729 69,635 170,418 31 170,449 The revenue per type of good or service including the previous years is as follows:
For the year ended December 31
in 000€ 2021 2020 2019
Software revenue (non-medical) 42,902 39,054 41,654
Software revenue (medical) 22,887 19,808 19,407
Medical devices and services 50,481 41,921 41,401
Manufacturing 89,180 69,635 94,156
Other — 31 61
Total 205,450 170,449 196,679 22.1.2 Contract balances The following table provides information about receivables, contracts in progress (contract assets) and deferred income (contract liabilities) from contracts with customers.
As of December 31,
in 000€ 2021 2020
Trade receivables, included in ‘trade and other receivables’ 42,814 32,346
Contract assets / contracts in progress 495 749
Contract liabilities / deferred income /advances receive d 39,324 34,797 We refer to Note 18 for a detail of the deferred income. Note 18 includes a split of the deferred income in current and non-current. Non-current up-front The relation between the timing of satisfaction of the performance obligations and the timing of billing resulting in contract assets and liabilities is as follows:
• Maintenance services: maintenance services are typically billed at the beginning of the maintenance period resulting in deferred income that is recognized on a straightline basis over the maintenance period.
• Software licenses: certain software licenses may have been billed prior to the delivery of the software key or time-based software licenses may have been billed up-front
• Certain agreements in the medical segment include up-front step-in
• Certain development services are satisfied while the services can only billed at certain pre-defined 22.2 Cost of sales Cost of sales includ e
For the year ended December 31
in 000€ 2021 2020 2019
Purchase of goods and services (38,691 ) (31,725 ) (37,870 )
Amortization and depreciation (11,296 ) (11,788 ) (10,917 )
Payroll expenses (38,499 ) (32,438 ) (37,715 )
Work in Progress 1,208 (495 ) (550 )
Total (87,278 ) (76,446 ) (87,052 ) 22.3 Research and development expenses Research and development expenses include the following selected information:
For the year ended December 31
in 000€ 2021 2020 2019
Purchase of goods and services (3,770 ) (2,788 ) (2,583 )
Amortization and depreciation (1,821 ) (1,746 ) (1,483 )
Payroll expenses (21,300 ) (20,368 ) (19,219 )
Other — (2,202 ) (63 )
Total (26,891 ) (27,104 ) (23,348 ) 22.4 Sales and marketing expenses Sales and marketing expenses include the following selected information:
For the year ended December 31
in 000€ 2021 2020 2019
Purchase of goods and services (6,704 ) (5,960 ) (9,228 )
Amortization and depreciation (1,892 ) (1,946 ) (1,346 )
Payroll expenses (40,555 ) (36,521 ) (42,055 )
Other — (209 ) (360 )
Total (49,151 ) (44,636 ) (52,989 ) 22.5 General and administrative expenses General and administrative expenses include the following selected information:
For the year ended December 31
in 000€ 2021 2020 2019
Purchase of goods and services (11,248 ) (8,933 ) (9,856 )
Amortization and depreciation (2,987 ) (2,437 ) (3,630 )
Payroll expenses (19,080 ) (18,104 ) (18,078 )
Other — 137 (222 )
Total (33,315 ) (29,337 ) (31,786 ) 22.6 Net other operating income The net other operating income can be detailed as follows:
For the year ended
in 000€ 2021 2020* 2019
Government grants 4,466 4,473 5,263
Amortization intangibles purchase price allocation (2,521 ) (1,857 ) (2,013 )
Allowance for doubtful debtors (58 ) (244 ) 210
Capitalized expenses (asset construction) 223 316 166
Tax Credits 746 1,198 665
Personnel related income — — 37
Fair value adjustment Materialise Motion — 770 —
Impairment Engimplan — (2,516 ) —
Impairment Metal Belgium (Aldema) (177 ) — —
Other 723 295 1,104
Total 3,402 2,436 5,432
* The year 2020 has been adjusted retrospectively The Company has received government grants from the Belgian federal and regional governments and from the European Community in the forms of grants linked to certain of its research and development programs and reduced payroll taxes. 22.7 Payroll expenses The following table shows the breakdown of payroll expenses for 2021, 2020 and 2019:
For the year ended December 31
in 000€ 2021 2020 2019
Short-term employee benefits (93,850 ) (82,135 ) (87,775 )
Social security expenses (17,076 ) (15,691 ) (15,647 )
Expenses defined contribution plans (1,250 ) (1,150 ) (1,033 )
Other employee expenses (7,259 ) (8,455 ) (12,612 )
Total (119,435 ) (107,431 ) (117,067 )
Total registered employees at the end of the period 2,332 2,162 2,177 22.8 Financial expenses Financial expenses includes the following selected information:
For the year ended December 31
in 000€ 2021 2020 2019
Interest expense (2,435 ) (2,299 ) (2,146 )
Foreign exchange losses (1,258 ) (2,999 ) (832 )
Other financial expenses (408 ) (697 ) (704 )
Total (4,101 ) (5,995 ) (3,682 ) 22.9 Financial income Financial income includes the following selected information:
For the year ended
in 000€ 2021 2020 2019
interest income 658 418 386
Foreign exchange gains 4,904 1,668 955
Other finance income 58 366 36
Total 5,620 2,452 1,377 |
| Disclosure of income tax and deferred tax [text block] | 22.10 Income taxes and deferred taxes Current income tax The following table shows the breakdown of the tax expense for 2021, 2020 and 2019:
As of December 31,
in 000€ 2021 2020* 2019
Current income tax (1,252 ) 4 (2,926 )
Deferred income taxes * 661 1,024 331
Total income taxes for the period (591 ) 1,028 (2,595 )
* The year 2020 has been adjusted retrospectively The current tax expense is equal to the amount of income tax owed to the tax authorities for the year, under the applicable tax laws and rates in effect in the various countries. Deferred tax Deferred tax is presented in the statement of financial position und e non-current non-current
Asset/(liability) Income/(expense)
in 000€ 2021 2020* 2019 2021 2020* 2019
Tax losses, notional interest deduction and other tax credits 2,162 1,823 — — — —
Amortization development assets and other intangible assets 136 75 38 — — —
Depreciation property, plant & equipment 55 125 70 — — —
Leases 35 — — — — —
Other items 274 77 84 — — —
Total deferred tax assets 2,662 2,100 192 26 9 (124 )
Property, plant & equipment (850 ) (209 ) (403 ) — — —
Intangible assets (5,757 ) (6,414 ) (4,937 ) — — —
Investment grants (199 ) (227 ) (301 ) — — —
Inventory valuation — (31 ) (89 ) — — —
Other items — — (17 ) — — —
Total deferred tax liabilities (6,806 ) (6,881 ) (5,747 ) (687 ) (1,033 ) 455
Netting 2,435 1,899 — — — —
Total deferred tax assets, net 227 201 192 — — —
Total deferred tax liabilities , net (4,371 ) (4,982 ) (5,747 ) — — —
Total deferred tax income (expense) — — — (661 ) (1,024 ) 331
* The year 2020 has been adjusted retrospectively The Group has unused tax losses and unused Innovation Income Deduction 2019 With respect to the unused tax losses of Materialise NV, no deferred tax assets have been recognized given that in view of the Belgian Patent Income Deduction and Innovation Income Deduction there is an uncertainty to which extent these tax losses and unused Innovation Income Deduction With respect to the unused tax losses of the other entities, no deferred tax assets have been recognized in 2021, 2020 nor 2019 except for our tax unity in Germany where we recorded a deferred tax asset of € 0.3 million related to 2020 losses and Materialise Motion where we recorded a deferred tax asset of € million against a deferred tax liability of € million. The deferred tax liability of Relationship between Tax Expense and Accounting Profit
For the year ended December 31
in 000€ 2021 2020* 2019
Profit (loss) before taxes 13,736 (8,221 ) 4,239
Income tax at statutory rate of 25% (2019: 29.58%) (3,432 ) 2,045 (1,254 )
Effect of different local tax rate 12 529 63
Tax adjustments to the previous period 88 (231 ) (367 )
Non-deductible (354 ) (584 ) (554 )
Research and development tax credits 398 375 179
Patent income deduction / innovation income deduction 2,847 — —
Non recognition of deferred tax asset (407 ) (723 ) (1,579 )
Recognition of deferred tax assets on previous year’s tax losses — — 119
Non-taxable 350 503 925
Use of previous year’s tax losses and tax credits for which no 163 135 —
Taxes on other basis (71 ) (993 ) —
Other (185 ) (28 ) (127 )
Income tax benefit (expense) as reported in the consolidated income statement (591 ) 1,028 (2,595 )
* The year 2020 has been adjusted retrospectively |
