The abridged balance sheet as at 31 December 2021 is shown below.
31 December 2021
31 December 2020
Assets held for sale
Equity and liabilities
Liabilities held for sale
Total equity and liabilities
The significant changes in the balance sheet as at 31 December 2021 relative to the situation as at 31 December 2020 are explained below. Detailed information on balance sheet items is given in the financial statements.
Non-current assets increased by €422 million. This increase is mainly explained by the high level of investment, in particular in the electricity networks.
Current assets rose by a good €352 million. This is mainly due to the higher cash balance as a result of the incoming cash flow from the convertible shareholder loan at the end of 2021.
The assets and liabilities held for sale relate to Stam.
Equity increased by €142 million as a result of the profit of €242 million achieved in 2021 on the one hand, and the dividend of €94 million paid over 2020 on the other. A summary of the movements can be found in note  of the financial statements.
The increase in non-current assets was financed, in part, through external loans. The non-current liabilities increased by €119 million compared to 2020. This includes the agreed convertible shareholder loan for an amount of €600 million and the shift from non-current liabilities to current liabilities of €400 million. Furthermore, the early termination of two CBLs led to a reduction in the lease liabilities.
The current liabilities increased by €517 million compared to 2020. This is mainly because some of the non-current liabilities became current liabilities as they will be repaid in 2022.