diff --git a/frontend/public/schemas/20251121/linkml/manifest.json b/frontend/public/schemas/20251121/linkml/manifest.json
index 3448f700b6..ce8d8d3535 100644
--- a/frontend/public/schemas/20251121/linkml/manifest.json
+++ b/frontend/public/schemas/20251121/linkml/manifest.json
@@ -1,5 +1,5 @@
 {
-  "generated": "2026-01-14T08:05:54.440Z",
+  "generated": "2026-01-14T08:06:36.818Z",
   "schemaRoot": "/schemas/20251121/linkml",
   "totalFiles": 2923,
   "categoryCounts": {
diff --git a/schemas/20251121/linkml/manifest.json b/schemas/20251121/linkml/manifest.json
index ce8d8d3535..9b95e8fa69 100644
--- a/schemas/20251121/linkml/manifest.json
+++ b/schemas/20251121/linkml/manifest.json
@@ -1,5 +1,5 @@
 {
-  "generated": "2026-01-14T08:06:36.818Z",
+  "generated": "2026-01-14T08:07:11.151Z",
   "schemaRoot": "/schemas/20251121/linkml",
   "totalFiles": 2923,
   "categoryCounts": {
diff --git a/schemas/20251121/linkml/modules/classes/FinancialStatement.yaml b/schemas/20251121/linkml/modules/classes/FinancialStatement.yaml
index bd0a094d2a..e025469502 100644
--- a/schemas/20251121/linkml/modules/classes/FinancialStatement.yaml
+++ b/schemas/20251121/linkml/modules/classes/FinancialStatement.yaml
@@ -15,7 +15,6 @@ imports:
 - ../enums/FinancialStatementTypeEnum
 - ./ReconstructedEntity
 - ../slots/publication_date
-- ../slots/administrative_expenses
 - ../slots/has_audit_date
 - ../slots/has_audit_opinion
 - ../slots/has_or_had_audit_status
@@ -27,11 +26,8 @@ imports:
 - ../slots/financial_archival_stage
 - ../slots/financial_document_format
 - ../slots/financial_document_url
-- ../slots/fundraising_expense
 - ../slots/id
-- ../slots/innovation_expense
 - ../slots/managing_unit
-- ../slots/program_expense
 - ../slots/refers_to_custodian
 - ../slots/reporting_period_end
 - ../slots/reporting_period_start
@@ -52,7 +48,8 @@ imports:
 - ../slots/was_generated_by
 - ./SpecificityAnnotation
 - ./TemplateSpecificityScores
-- ../slots/has_or_had_administrative_expense
+- ../slots/has_or_had_expenses
+- ./Expenses
 prefixes:
   linkml: https://w3id.org/linkml/
   hc: https://nde.nl/ontology/hc/
@@ -114,7 +111,6 @@ classes:
     - frapo:hasFunding
     - prov:Entity
     slots:
-    - administrative_expenses
     - audit_date
     - audit_opinion
     - audit_status
@@ -126,11 +122,9 @@ classes:
     - financial_archival_stage
     - financial_document_format
     - financial_document_url
-    - fundraising_expense
+    - has_or_had_expenses
     - id
-    - innovation_expense
     - managing_unit
-    - program_expense
     - publication_date
     - refers_to_custodian
     - reporting_period_end
@@ -197,18 +191,28 @@ classes:
       total_net_asset:
         range: decimal
         required: false
-      program_expense:
-        range: decimal
-        required: false
-      has_or_had_administrative_expense:
-        range: decimal
-        required: false
-      fundraising_expense:
-        range: decimal
-        required: false
-      innovation_expense:
-        range: decimal
+      has_or_had_expenses:
+        range: Expenses
+        multivalued: true
+        inlined: true
+        inlined_as_list: true
         required: false
+        description: >-
+          Categorized expenses using the Expenses class. Replaces individual
+          expense slots (administrative_expenses, program_expense, fundraising_expense,
+          innovation_expense) with a single structured relationship.
+        examples:
+          - value:
+              - expense_type: ADMINISTRATIVE
+                amount: 10000000.0
+                currency: EUR
+              - expense_type: PROGRAM
+                amount: 62000000.0
+                currency: EUR
+              - expense_type: FUNDRAISING
+                amount: 3200000.0
+                currency: EUR
+            description: Functional expense breakdown for Dutch museum
       has_or_had_audit_status:
         range: string
         required: false
@@ -305,9 +309,19 @@ classes:
         total_assets: 125000000.0
         total_liabilities: 15000000.0
         total_net_assets: 110000000.0
-        program_expenses: 62000000.0
-        administrative_expenses: 10000000.0
-        fundraising_expenses: 3200000.0
+        has_or_had_expenses:
+          - expense_type: PROGRAM
+            amount: 62000000.0
+            currency: EUR
+            description: "Program service expenses including exhibitions, conservation, education"
+          - expense_type: ADMINISTRATIVE
+            amount: 10000000.0
+            currency: EUR
+            description: "Management and general expenses"
+          - expense_type: FUNDRAISING
+            amount: 3200000.0
+            currency: EUR
+            description: "Fundraising and donor relations expenses"
         audit_status: AUDITED
         auditor_name: KPMG Accountants N.V.
         audit_opinion: UNQUALIFIED