ANNUAL REPORT 2021
FINANCIAL INFORMATION
ANNUAL REPORT 2021
FINANCIAL INFORMATION
CONTENTS
1. GENERAL INFORMATION AND
RESPONSIBILITY FOR THE
ANNUAL REPORT AND FOR THE
AUDIT OF THE FINANCIAL
STATEMENTS 6
1.1 Responsibility for the contents of
this document 7
1.2 Responsibility for the audit of
the financial statements 7
1.3 Availability of the Annual Report 8
1.4 Forward-looking information 8
2. MESSAGE FROM THE CEO 10
3. MANAGEMENT REPORT
OF THE BOARD OF DIRECTORS 14
3.1 Key Figures 15
3.2 Activities of Oxurion 15
3.3 Comments to Consolidated
Financial Statements 21
3.4 Comments to Statutory Accounts 22
3.5 Description of the Principal Characteristics
of the Company’s Risks 24
3.6 Other information in accordance with
Belgian Company law 38
4. CORPORATE GOVERNANCE 42
4.1 General provisions 43
4.2 Compliance with the Corporate
Governance Code 43
4.3 Description of the Principal Characteristics
of the Company’s Internal Controls
and Risk Analysis 44
4.4 Fees to the Statutory Auditor 49
4.5 Notification of Important Participations 49
4.6 Composition and functioning of the
Company’s management 51
4.7 Policy regarding Transactions and other
Contractual Relationships between the
Company, including Affiliated Companies,
its Directors and the CEO 57
4.8 Capital Increase by the Board of Directors
with Respect to the Authorized Share Capital
and Provisions that may be triggered in the
Event of a Public Takeover on the Company
(Article 8:2 of the Royal Decree of April 29,
2019 (Article 34 of the old Royal Decree
of 14 November 2007)) 61
4.9 Remuneration Report Financial Year 2021 61
5. CONSOLIDATED FINANCIAL
STATEMENTS 72
5.1 Consolidated statement of profit and loss 73
5.2 Consolidated statement of financial position 74
5.3 Consolidated statement of cash flows 75
5.4 Consolidated statement of
changes in equity 76
5.5 General notes to the consolidated
financial statements 77
5.6 Notes to the consolidated statement of
profit and loss 97
5.7 Notes to the consolidated statement of
financial position 101
5.8 Other clarification notes to the
statement of financial position 116
6. STATUTORY AUDITOR’S REPORT
TO THE AGM FOR THE YEAR ENDED
31 DECEMBER 2021 (CONSOLIDATED
FINANCIAL STATEMENTS) 124
7. ABBREVIATED STATUTORY
FINANCIAL STATEMENTS 132
7.1 Balance sheet of Oxurion NV 133
7.2 Income statement of Oxurion NV 134
7.3 Appropriation account of Oxurion NV 134
7.4 Key valuation principles 135
8. GLOSSARY 140
6
OXURION ANNUAL REPORT 2021
1. GENERAL INFORMATION AND
RESPONSIBILITY FOR THE
ANNUAL REPORT AND FOR
THE AUDIT OF THE FINANCIAL
STATEMENTS