Accounting policies

The company financial statements of Alliander N.V. (Chamber of Commerce company reg. no. 34108286) have been prepared according to the provisions of Part 9, Book 2, of the Dutch Civil Code.

Note 37 Property, plant, equipment and right-of-use assets

Investments in property, plant and equipment during the financial year totalled €49 million (2022: €65 million). They related to investments in hardware, software and accommodation.

Note 38 Intangible assets

Intangible assets as at year-end 2023, and also as at year-end 2022, are made up of goodwill relating to the acquisition of Endinet (€61 million), which is allocated to Liander, and goodwill relating to Stam (€7 million), see also note 4.

Note 39 Investments in subsidiaries and associates

In 2023, Alliander received €19 million (2022: €82 million) in dividend from a subsidiary. The addition to share capital of €211 million in 2023 relates to payments of capital invested in the subsidiaries of Alliander N.V.

Note 40 Other financial assets 

The movement in deferred tax assets is explained by the application of the tax scheme for discretionary depreciation for tax purposes. For further disclosures, reference is made to note 17.

Note 41 Other receivables and receivables from subsidiaries

There is group-wide financing for receivables from group companies within the Alliander group, meaning that the activities of the subsidiaries are part-financed through a current account facility with the holding company.

Note 42 Cash and cash equivalents

In 2023, the cash and cash equivalents included amounts that were not at the unrestricted disposal of Alliander. This concerns a blocked bank account with a balance of €0.4 million (2022: €1 million).

Note 43 Equity

The statement of changes in equity is included in the consolidated financial statements.

Note 44 Long-term liabilities

These loans have been made available by shareholders. They are subordinated to all other liabilities.

Note 45 Lease liabilities

Lease liabilities as at year-end 2023 were as follows:

Note 46 Deferred income

Deferred income relates to investment grants. The associated amortisation periods are the same as the depreciation periods of the assets in question.

Note 47 Provisions

The long-service benefits scheme covers long-service benefits payable on attaining 25 and 40 years of service. Employees born before 1 January 1963 retain the entitlement to a benefit after retiring.

Note 48 Current and accrued liabilities

The short-term liabilities, accruals and deferred income relate to trade payables, taxes payable and the other short-term liabilities.

Note 49 Contingent assets and liabilities

Please refer to note 45 in the notes to the company financial statements for details of lease liabilities.

Note 50 Operating income

The other income chiefly relates to group-wide activities at holding company level.

Note 51 Costs of subcontracted work and other external expense

Note 52 Employee benefit expense

The employee benefit expense item mainly concerns the costs of group-wide activities at holding company level.

Note 53 Depreciation and amortisation

Depreciation of IT assets and right-of-use assets are recognised in the Other column.

Note 54 Other operating expenses

Costs passed on by group companies mainly concerns internal development projects at holding company level.

Note 55 Finance income

The finance income from loans to group companies was up by €52 million compared with 2022 as a result of the higher interest rates charged.

Note 56 Finance expense

Finance expenses were €25 million higher than in 2022 due to the new finance raised, which was arranged at higher interest rates.

Note 57 Tax

The effective tax burden was 62% negative.

Note 58 Share in profit/loss from investments in affiliated companies

Coming in at €264 million after tax, the share in the profits of affiliated companies was up by €67 million compared to 2022, primarily as a result of higher profits at network operator Liander.