Guidance

What does this mean for my
CapEx, OpEx and revenue reporting?

A plain-language guide to how the conclusions in a Censatim report typically feed a company’s own EU Taxonomy KPI disclosures. Censatim does not calculate financial figures, and this page is information, not advice; the caveats at the end are part of the guidance.

The three KPIs, in plain language

Companies reporting under the EU Taxonomy disclose three percentages, defined in the Disclosures Delegated Act: how much of their turnover, their capital expenditure (CapEx), and their operating expenditure (OpEx, on a deliberately narrow definition)is associated with Taxonomy-aligned activities. Each KPI is a fraction: money associated with aligned activities on top, the company’s total on the bottom. The precise definitions of what counts in each numerator and denominator sit in the Delegated Act and are applied by your finance team and checked by your assurance provider; nothing on this page replaces them.

Turnover

The share of net revenue that comes from products or services associated with your aligned activities. For a landlord: the rental income of the qualifying buildings.

CapEx

The share of relevant capital additions related to aligned activities, or to credible plans to make activities aligned. For a landlord: qualifying renovation and acquisition spend.

OpEx

A narrow slice of non-capitalised costs (maintenance, renovation-related, R&D and similar) related to aligned activities; usually the smallest and most technical of the three.

Where a Censatim report fits, and where it stops

A Censatim assessment answers the questions that come before any money is allocated: which of your activities are Taxonomy-eligible, whether each one meets the technical criteria, and, where only part of a portfolio qualifies, which part. The financial allocation itself, attaching your actual turnover, CapEx and OpEx to those conclusions, is your own accounting exercise, done in your systems, under the Delegated Act definitions. Censatim never calculates, estimates or validates financial figures.

In the report	What it gives your allocation
Activity identification (e.g. CCM 7.7)	Your eligible perimeter: which business areas belong in the exercise at all.
The overall verdict per activity	Whether money associated with that activity can be reported as aligned, or only as eligible.
The qualifying-subset note (e.g. 11/28 buildings)	The population to allocate to: only the revenue and costs of the qualifying subset support an aligned figure.
Ratings marked Out of scope (lower tiers)	A reminder that alignment disclosure needs all three dimensions: a Substantial-Contribution-only view cannot support an aligned KPI on its own.
Information gaps and Undetermined ratings	What stands between an activity and an aligned claim; until resolved, the cautious treatment is eligible-but-not-aligned.

A worked illustration

Fictional example · Zuidwal Vastgoed · 28-building warehouse portfolio

What the report says	What the company does with it
Activity CCM 7.7 (acquisition and ownership of buildings), overall In-line with the note “11/28 buildings in line”	The rental income of those 11 named buildings goes into the aligned-turnover numerator; the other 17 buildings’ income stays eligible-but-not-aligned.
Activity CCM 7.2 (renovation), overall Partial: contribution met, DNSH short on one objective	Renovation CapEx cannot be reported as aligned this period; the gap register names exactly what would change that next period.
Minimum Social Safeguards In-line, entity-level, carried across all linked reports	One entity-level answer supports every activity’s disclosure; nothing to allocate, everything to document.

The company’s finance team then isolates the 11 qualifying buildings in its ledgers, computes the three KPI fractions under the Delegated Act definitions, and discloses both the eligible and the aligned shares with its methodology. Censatim’s role ended at the conclusions in the left column.

The example above is fictional and illustrative only. It shows the reading, not your numbers: every figure in a real disclosure comes from your own accounts under the Delegated Act definitions.

The practical sequence

Establish the eligible perimeter

List the business areas that map to Taxonomy activities. The free eligibility check, and the eligibility matrix for multi-activity groups, does this.

Assess alignment per activity

One full assessment per activity. Where several activities are eligible, linked follow-on assessments cover the others, with entity-level safeguards carried over.

Pin down the qualifying population

Take the qualifying subset from each report (which buildings, which assets, which sites). This is the population your finance data must isolate.

Map your financial systems to that population

Revenue, capital additions and relevant operating costs per qualifying asset or activity, from your own ledgers. This step is entirely yours and is usually the real work.

Compute and disclose the three KPIs

Apply the Delegated Act definitions of each numerator and denominator, disclose eligible and aligned shares, and document the methodology alongside.

Close the gaps, then re-approach

Where a report lists information gaps or Undetermined ratings, closing them (and reissuing the assessment) is what can move an activity from eligible to aligned in a later period.

What this page is not

This page is general information about how EU Taxonomy reporting is commonly approached. It is not financial, accounting, legal or regulatory advice, and it is not tailored to any company.

Censatim is not an accountancy firm, an audit firm or a financial services provider. Censatim reports do not calculate, verify or opine on financial figures, and neither the reports nor this page may be relied upon as an audit report, an assurance opinion, or a substitute for either. KPI definitions, allocation choices and disclosures are governed by the Disclosures Delegated Act and your applicable accounting framework, applied by your own finance function and reviewed by your own advisers and assurance provider.

Worked examples on this page are fictional and illustrative. Before using any Censatim output in a regulatory disclosure, investor communication or financing decision, have it reviewed by a qualified practitioner. Questions about closing the gaps a report identifies: consult@censatim.com.

Start with the perimeter

A free eligibility check maps your business areas to Taxonomy activities in under a minute.

Corporate reporting How the assessment works

What does this mean for myCapEx, OpEx and revenue reporting?