BACH GET INSIGHTS INTO 2013 DATA
October 2015
Towards a more harmonized and friendly database…
1
OVERVIEW ON THE BACH DATABASE
1.1 Description of BACH database
1.2 National databases
1.3 Reference year
1.4 Profitability
1.5 Financing
2
KNOWING MORE
2.1 Outlook #3: Developments in the leveraging process of European companies: Some effects on the
asset side
2.2. ECB Statistics Paper Series (SPS): The Bank for the Accounts of Companies Harmonized (BACH)
database
3
PUBLICATIONS AND BACH PRODUCTS AND SERVICES
3.1. National publications
3.2. BACH products and services
1. OVERVIEW ON THE BACH DATABASE
1.1. DESCRIPTION OF BACH DATABASE
Description of Bank for the Accounts of Companies Harmonized (BACH) database
 Definition: BACH is a free database with aggregated and relatively harmonized annual
accounting data of non financial enterprises
Size class: 4 size classes (SME, small, medium and large)
Countries: 11 European countries
Samples: Variable and sliding samples
AT
NACE industry: 17 sections and about 80 divisions
Time span: from 2000 onward
Outputs (number of items): Balance sheet items (41),
income statement (22), items from the notes (3) and
economic and financial ratios (29)
BE
CZ
DE
ES
FR
IT
NL
PL
PT
SK
 Four more countries in a near future:
DN
LX
RO
TR
Statistical measures: coverages, some absloute values, number
of companies and employees, weighted mean and quartiles
(first, median and third)
Warning: Substantial data harmonization efforts have been realized in order to increase the reliability of cross-country comparisons.
However, differences in accounting standards and national sample characteristics persist which might impact on the results provided in this
document. Information on the accounting deviations and the sample characteristics in each country are available on the BACH website.
GET INSIGHTS INTO 2013 DATA | 2
1. OVERVIEW ON THE BACH DATABASE
1.2. NATIONAL DATABASES
Weight of each national sample in the total population (Total companies)
| Coverage
56%
54%
ES
PL
DE
89%
75%
10%
43%
55%
69%
81%
100%
100%
(BACH nomenclature: Zc - Total NACE without K642 and M701, 0 - All sizes)
AT
CZ
Number of corporations
NL
BE
Number of employees
FR
IT
PT
SK
Turnover
Note: For Poland note that data is exhaustive in the case of companies with more than 9 employees that deliver full balance sheet statement.
GET INSIGHTS INTO 2013 DATA | 3
1. OVERVIEW ON THE BACH DATABASE
1.2. NATIONAL DATABASES
Distribution of each national sample by business sectors (Turnover)
| Structure by sector
(BACH nomenclature: Zc - Total NACE without K642 and M701, 0 – All sizes, Turnover)
Manufacturing (NACE B,C)
Electricity and water supply (NACE D,E)
Others (NACE A,H,J,I,L,M,N,P,Q,R,S)
Trade (NACE G)
Construction (NACE F)
Maximum
100%
73%
Manufactuting +
Trade
in BACH
31%
60%
32%
37%
39%
27%
FR
34%
53%
42%
30%
40%
21%
32%
ES
Minimum
16%
BE
28%
AT
29%
26%
20%
27%
39%
40%
44%
27%
33%
60%
41%
80%
0%
CZ
DE
IT
NL
PL
PT
SK
GET INSIGHTS INTO 2013 DATA | 4
1. OVERVIEW ON THE BACH DATABASE
1.2. NATIONAL DATABASES
Distribution of each national sample by technological intensity (Manufacturing GVA)
| Structure by technological intensity
(BACH nomenclature: C - Manufacturing, 0 – All sizes, Gross value added, WM – weighted mean)
High-technology (NACE 21,26)
Medium-high-technology (NACE 20,27-30)
Medium-low-technology (NACE 19,22-25,33)
Low-technology (NACE 10-18,31-32)
Maximum
75%
26%
27%
24%
32%
40%
11%
10%
5%
4%
5% 19%
5%
30%
7%
37%
30%
17%
37%
49%
7%
35%
48%
32%
AT
BE
CZ
DE
ES
FR
IT
NL
PL
PT
SK
Note: ‘Technological intensity’ defined according to Eurostat and OECD criteria.
Medium technology
Manufacturing
In BACH
Minimum
28%
16%
31%
26%
7%
34%
35%
38%
27%
59%
14%
GET INSIGHTS INTO 2013 DATA | 5
1. OVERVIEW ON THE BACH DATABASE
1.3. DESCRIPTION AND REFERENCE YEAR
Reference Year
 The “Overview on the BACH database”, presented in the next points, is based on the following data (the latest available data
in BACH database):
Provisional (Next updates: final data for 2013):
 DE (Germany)
 ES (Spain)
 FR (France)
 NL (the Netherlands)
Final (Next updates: provisional data for 2014):
 AT (Austria)
 BE (Belgium)
 CZ (Czech Republic)
 PL (Poland)
 PT (Portugal)
 SK (Slovakia)
 IT (Italy)
GET INSIGHTS INTO 2013 DATA | 6
1. OVERVIEW ON THE BACH DATABASE
1.4. PROFITABILITY
R33 - EBITDA on Net turnover (Total companies)
| Activity and technical ratios
(BACH nomenclature: Zc - Total NACE without K642 and M701, 0 – All sizes, WM – weighted mean)
20%
18,1%
18%
16%
Maximum
Minimum
8,1%
6,9%
8,3%
BE
7,3%
AT
6%
10,5%
8%
7,5%
10%
10,8%
Manufacturing+
Trade
in BACH
9,1%
12%
10,2%
18,1%
10,3%
14%
6,9%
4%
2%
0%
CZ
DE
ES
FR
IT
NL
PL
PT
SK
GET INSIGHTS INTO 2013 DATA | 7
1. OVERVIEW ON THE BACH DATABASE
1.4. PROFITABILITY
R42 - Staff costs on Gross value added (Total companies and Manufacturing)
| Activity and technical ratios
(BACH nomenclature: Zc - Total NACE without K642 and M701 and C - Manufacturing, 0 – All sizes, Q1 – Quartile 1, Q2 – Median, Q3 - Quartile 3)
(No quartiles available for CZ)
80%
60%
40%
20%
(No quartiles available for CZ)
100%
Q1
Q2
Q3
0%
AT
BE
CZ
DE
ES
FR
IT
NL
PL
PT
SK
Total companies
In most cases, the median for the total is equal or below the
median for the manufacturing sector
AT
BE
CZ
DE
ES
FR
IT
NL
PL
PT
SK
Manufacturing - NACE C
In general, the interquartile range for manufacturing sector
is lower when compared to the total of companies
GET INSIGHTS INTO 2013 DATA | 8
1. OVERVIEW ON THE BACH DATABASE
1.4. PROFITABILITY
R31 – Gross value added on Net turnover (Trade and Manufacturing)
| Profitability ratios
(BACH nomenclature: G – Wholesale and retail trade and C - Manufacturing, 0 – All sizes, R31 – Gross value added on Net turnover, WM – weighted mean)
17%
15%
ES
NL
AT
Trade
13%
PT
11%
FR
SK
IT
BE
DE
9%
PL
CZ
7%
5%
15%
17%
19%
21%
23%
25%
27%
29%
31%
Manufacturing
For most countries, R31 for manufacturing and trade sector is between 19% and 23%, and 7% and 13%, respectively
GET INSIGHTS INTO 2013 DATA | 9
1. OVERVIEW ON THE BACH DATABASE
1.4. PROFITABILITY
R38 –Net profit or loss for the period on Total equity (Manufacturing)
| Profitability ratios
(BACH nomenclature: C - Manufacturing, 0 – All sizes, WM – weighted mean)
] 12%; 18%]
] 6%; 12%]
] 1%; 6%]
Besides Belgium and Slovakia, Southern Europe countries present the lowest results for R38 in the Manufacturing sector
GET INSIGHTS INTO 2013 DATA | 10
1. OVERVIEW ON THE BACH DATABASE
1.5. FINANCING
E - Total equity on total balance sheet by enterprise size (Total companies)
| Equity and Liabilities
(BACH nomenclature: Zc - Total NACE without K642 and M701 , 0 – All sizes, 1 – SMEs (turnover < 50 M€), 2 – Large companies (turnover ≥ 50 M€), WM – weighted mean)
Countries
All sizes
SMEs
Large companies
AT
32%
32%
33%
BE
47%
48%
45%
CZ
46%
41%
48%
DE
34%
37%
33%
ES
42%
48%
38%
FR
32%
34%
31%
IT
32%
32%
32%
NL
57%
60%
50%
PL
51%
52%
51%
PT
30%
29%
32%
SK (2012)
32%
29%
41%
There is a diversity in relation to financial autonomy ratio in BACH countries (in the range of 30% to 57% for the total)
GET INSIGHTS INTO 2013 DATA | 11
1. OVERVIEW ON THE BACH DATABASE
1.5. FINANCING
Weight of each source of financing on total liabilities (Total companies)
| Equity and Liabilities
(BACH nomenclature: Zc - Total NACE without K642 and M701, 0 – All sizes, WM – Weighted mean)
100%
80%
60%
33%
40%
20%
32%
31%
31%
39%
25%
19%
15%
BE
CZ
DE
28%
23%
3%
25%
22%
0%
15%
32%
17%
21%
27%
20%
FR
IT
NL
PL
PT
SK
0%
0%
AT
Credit Institutions
(BACH item L2)
Trade payables
(BACH item L4)
ES
Other financial creditors
(BACH item L31)
Others
(BACH item L1,L5,L6)
Other non-financial creditors
(BACH item L32)
Provisions
(BACH item Lp)
Other creditors
(BACH item L3=L31+L32)
Notes: For a complete analysis of the differences in source of financing of the countries the consultation of the BACH Userguide is imperative. In
particular, it is important to know that neither the other financial creditors component nor the other non-financial creditors component is available for
Austria; the BACH item L3 “other creditors” is provided instead. All values are expressed in terms of total liabilities (BACH item L).
With some exceptions, “L2+L31” represents the most important source of financing in BACH countries
GET INSIGHTS INTO 2013 DATA | 12
1. OVERVIEW ON THE BACH DATABASE
1.5. FINANCING
R22 - EBITDA on interest on financial debt by enterprise size
| Financial and debt service ratios
(BACH nomenclature: Zc - Total NACE without K642 and M701 , 0 – All sizes, 1 – SMEs (turnover < 50 M€), 2 – Large companies (turnover ≥ 50 M€), WM – weighted mean)
800%
700%
PL
FR
SMEs
600%
BE
DE
AT
IT
500%
NL
ES
SK
400%
300%
PT
Not available for CZ
200%
200%
400%
600%
800%
1000%
1200%
1400%
1600%
1800%
2000%
Large companies
With some exceptions, R22 is in the range of 500% to 800%, regardless of size class
Notes: The size of the bubble corresponds to the value for total companies (Zc)
GET INSIGHTS INTO 2013 DATA | 13
1. OVERVIEW ON THE BACH DATABASE
1.5. FINANCING
R16 - Current debt on Total assets by Enterprise size
| Financial structure ratios
(BACH nomenclature: Zc - Total NACE without K642 and M701, 1 – SMEs (turnover < 50 M€), 2 – Large companies (turnover ≥ 50 M€), WM – Weighted mean)
50%
45%
40%
35%
30%
(Not available for CZ)
25%
20%
15%
10%
5%
0%
AT
BE
CZ
DE
ES
FR
IT
Large companies
NL
PL
PT
SK
SMEs
Notes: In what concerns AT data, items L311 and L312 are not available. In that sense, for AT, the numerator of R16 includes only items L11, L21, L4
and L5. For more information, please consult the BACH Userguide (Deviations file).
With some exceptions, SMEs present higher figures than large companies for R16
GET INSIGHTS INTO 2013 DATA | 14
1. OVERVIEW ON THE BACH DATABASE
1.5. FINANCING
R53-R52 - Difference between Trade payables (R53) and Trade receivables (R52) on Net turnover (Net trade credit financing)
| Working capital ratios
(BACH nomenclature: Zc - Total NACE without K642 and M701 , C - Manufacturing and G – Wholesale and retail trade, 0 – All sizes, WM – weighted mean)
4%
2%
0%
-2%
-4%
-6%
AT
BE
CZ
DE
ES
Total companies
FR
IT
Manufacturing
NL
PL
PT
SK
Trade
The difference between R53-R52 for manufacturing and for total companies is negative for most countries
GET INSIGHTS INTO 2013 DATA | 15
2. KNOWING MORE
2.1. OUTLOOK #3: DEVELOPMENTS IN THE LEVERAGING PROCESS OF EUROPEAN
COMPANIES: SOME EFFECTS ON THE ASSET SIDE
The Outlook #3, entitled “Developments in the leveraging process of European companies: Some effects on the asset
side” uses BACH data to compare recent trends in non-financial corporation performance in the following nine
European economies: Austria, Belgium, Czech Republic, France, Germany, Italy, Poland, Portugal and Spain. In
particular, indicators on the financial structure of non-financial corporations, their debt and financial services as well as
the structure of the asset side are presented. The analysis includes an assessment of the recent situation in the countries
under study and analyses the effects of the economic and financial crisis as well as the evolution of non-financial
corporation financing between 2008 and 2013. The main attention is dedicated to the analysis of deleveraging effect
during the financial crisis. Particular attention is given to the role of firm size and industry affiliation and to measures of
dispersion.
2.2. ECB STATISTICS PAPER SERIES (SPS): THE BANK FOR THE ACCOUNTS OF
COMPANIES HARMONIZED (BACH) DATABASE
[Available at https://https://www.ecb.europa.eu/pub/pdf/scpsps/ecbsp11.en.pdf]
The Bank for the Accounts of Companies Harmonized (BACH) is a free-of-charge database containing the
aggregated accounting data of non-financial incorporated enterprises for, so far, 11 European countries. While the
individual accounts feeding the database were originally prepared in line with national accounting standards consistent
with European Accounting Directives, they have been harmonised with a view to preserving, to the greatest extent
possible, the cross-country comparability of the resulting data. This article presents the methodology underpinning
BACH, including the content of the database. It describes the characteristics of national samples and outlines the
harmonisation process. BACH is a unique tool for analysing and comparing the financial structure and performance
of firms across European countries. A simple case study is also presented in support.
GET INSIGHTS INTO 2013 DATA | 16
3. PUBLICATIONS AND BACH PRODUCTS AND SERVICES
3.1. NATIONAL PUBLICATIONS:
Knowing the most recent publications using the BACH Database
Gibt es Anzeichen für eine Bilanzrezession in Österreich? –
Daten und Analysen – Q4/13 (DE version)
http://www.oenb.at/dms/oenb/Publikationen/Statistik/Statistiken
---Daten-und-Analysen/2013/Statistiken---Daten-und-AnalysenQ4-13/chapters/stat_2013_q4_11_analyse_konczer.pdf
Central Balance Sheet Data Office. Annual results of nonfinancial corporations (EN version)
(See chapter 5. International comparisons. BACH database)
http://www.bde.es/bde/en/secciones/informes/Publicaciones_an/
Central_de_Balan/anoactual/
Central Balance Sheet Data Office. Results of non-financial
corporations to 2014 Q3 (EN version)
http://www.bde.es/bde/en/secciones/informes/boletines/relac/Bo
letin_Economic/Informes_trimest/
Les PME en Europe : disparités entre pays et secteurs (FR
version)
http://www.banquefrance.fr/fileadmin/user_upload/banque_de_france/publications/
Les-PME-en-Europe.pdf
Consolidated financial statement statistics as a contribution to
the extended corporate analysis: approach and initial results
(EN version)
http://www.bundesbank.de/Redaktion/EN/Standardartikel/Statist
ics/publications_corporate_financial_statements.html
Strategie kapitału pracującego w Europie – analiza
prawidłowości w krajach i grupach
wielkościowych
przedsiębiorstw (PL version)
http://zif.wzr.pl/pim/2013_2_2_15.pdf
Struktura kapitałowa przedsiębiorstw produkcyjnych w Polsce,
Niemczech i Portugalii (PL version)
http://yadda.icm.edu.pl/yadda/element/bwmeta1.element.ekonelement-000171247087?q=bwmeta1.element.ekon-elementc82c9ef4-0452-3694-afdd-10af3527649b;41&qt=CHILDRENSTATELESS
22 | Análise das Empresas do Setor Exportador em Portugal
(PT version)
http://www.bportugal.pt/pt-PT/ServicosaoPublico/Centralde
Balancos/Biblioteca%20de%20Tumbnails/Estudos%20da%20CB_2
2_2015.pdf
BACH Database and its Possible Use (EN version)
http://www.nbs.sk/_img/Documents/_PUBLIK_NBS_FSR/Biatec/R
ok2015/01-2015/03_biatec_01_15_BACH_Database_and_i
ts_possible_use.pdf
European Central Bank - Statistics Paper Series - The Bank for
the Accounts of Companies Harmonized (BACH) database
https://www.ecb.europa.eu/pub/pdf/scpsps/ecbsp11.en.pdf
GET INSIGHTS INTO 2013 DATA | 17
3. PUBLICATIONS AND BACH PRODUCTS AND SERVICES
3.2. BACH PRODUCTS AND SERVICES
[Available at https://www.bach.banque-france.fr?lang=en]
Outlook #3: Developments in
the leveraging process of
European companies: Some
effects on the asset side
 Outlook booklets: compares
recent trends in economic and
financial issues of the European
companies making use of the
information available within the
BACH database
Yearly Get Insights: 2013
 Yearly Get Insights: yearly portfolio of
selected economic and financial
indicators enabling to get easily a
picture of the most recent situation of
European companies
Userguide: 2013 data
 Userguide: covers the methodology
underpinning the data following a
user-friendly approach. It supports the
process of observing variables to
obtain the extra information needed
to compare data
GET INSIGHTS INTO 2013 DATA | 18
GET INSIGHTS INTO 2013 DATA
HOW TO CONTACT BACH WG?
1356-bach-ut@banque-france.fr |
http://www.bach.banque-france.fr/
Next update: October 2016