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Annual report 2024 Financial statements Notes to the company financial statements

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.

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

Investments in property, plant and equipment during the financial year totalled €53 million (2023: €49 million). They related to investments in hardware, software and accommodation.

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Note 38 Intangible assets

Intangible assets as at year-end 2024, and also as at year-end 2023, 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.

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Note 39 Investments in subsidiaries and associates

In 2024, Alliander received €1 million (2023: €19 million) in dividend from a subsidiary. The addition to share capital of €6 million in 2024 relates to payments of capital invested in the subsidiaries of Alliander N.V.

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Note 40 Other financial assets 

For further disclosures on deferred tax assets, reference is made to note 17.

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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.

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Note 42 Cash and cash equivalents

In 2024, 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 (2023: €0.4 million).

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Note 43 Equity

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

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Note 44 Non-current liabilities

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

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Note 45 Finance lease payables

Lease liabilities as at year-end 2024 were as follows:

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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.

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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 the benefit after retiring.

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Note 48 Current and accrued liabilities

The short-term liabilities and accruals relate to trade payables, taxes payable and the other short-term liabilities. Amounts owed to suppliers and trade credits include amounts payable of zero to non-controlling interests (2023: €14 million).

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Note 49 Contingent assets and liabilities

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

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Note 50 Operating income

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

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Note 51 Costs of subcontracted work and other external expense

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Note 52 Employee benefit expense

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

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Note 53 Depreciation/amortisation and impairment of non-current assets

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

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Note 54 Other operating expenses

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

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Note 55 Finance income

The finance income from loans to group companies was up by €79 million compared with 2023 due to the higher interest rates charged. Interest income was also €8 million higher than in 2023 as more temporary surplus liquidity was placed on deposit.

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Note 56 Finance expense

The total finance expense was €7 million higher than in 2023.

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Note 57 Tax

The effective tax rate was 24.8%. The difference with respect to the nominal rate (25.8%) is explained by permanent differences between the results for tax purposes and the commercial results reported by the entire group to the holding company.

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

Coming in at €900 million after tax, the share in the profits of affiliated companies was up by €636 million compared to 2023.

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  • Foreword by the Management Board 
    • 2024 in brief
  • About Alliander
    • Profile of Alliander
    • The world around us
    • Our mission and strategy
    • How the energy system is changing
    • Dilemmas and lessons learned
    • Objectives and results
  • The value we create
    • Access to energy with high reliability at the lowest possible cost
      • How we are working on the changing energy system
      • Reducing demand
      • Completing more work
      • More effective grid use (flexibilisation)
      • Proactively communicating with customers
      • Development of infrastructure for heating and sustainable gases
      • Sharing data and new market services
      • Digitalisation
      • Innovation to accelerate progress
      • Excellent network management
      • Customer convenience
      • Changes to the law
    • Making the energy supply and our organisation sustainable
      • Acceleration in achieving sustainability  
      • Making our organisation sustainable
    • Ensuring a safe energy network, a safe working environment and a secure data environment
      • Safe working practices
      • Safe infrastructure
      • Privacy and security
    • Being an attractive, inclusive employer with equal opportunities for all
      • Getting the job done with our employees
      • Composition of the organisation
      • Being an attractive employer
      • Focus on professional skills
      • Employee vitality and sickness absence
      • Review by the Works Council
    • Being a creditworthy company with solid returns
      • Financial developments in 2024
      • Financial policy
      • Financial results in 2024
      • Income statement for 2024
      • Incidental items
      • Segment reporting
      • Balance sheet
      • Cash flow
      • Financial position
      • Tax matters
      • Regulatory developments in 2024
      • Financial outlook for 2025
    • Our contribution to general prosperity 
  • Sustainability statement
    • Introduction
    • General disclosures
      • Basic principles for the sustainability statement 
      • Governance and culture
      • Strategy, business model and value chain 
      • Double materiality assessment
      • Our Impacts, risks and opportunities 
    • Environment 
      • Climate change (E1)
      • EU taxonomy
      • EU taxonomy key figures
      • Circularity (E5)
    • Social
      • Own workforce (S1)
      • Workers in the value chain (S2)
      • Consumers and end-users (S4)
    • Governance
      • Business conduct (G1)
      • CSRD reference table
      • List of data points under other EU legislation
  • Corporate governance
    • Corporate governance
    • Risks
    • Report of the Supervisory Board
    • Personal details
    • Remuneration report
    • Statement by the Management Board
  • Financial statements
    • Consolidated financial statements
      • Consolidated balance sheet
      • Consolidated income statement
      • Consolidated statement of comprehensive income
      • Consolidated cash flow statement
      • Consolidated statement of changes in equity
    • Notes to the consolidated financial statements 
      • IFRS
      • Basis of the consolidation
      • Note 1 Business combinations
      • Note 2 Segment information
      • Note 3 Property, plant, equipment and right-of-use assets
      • Note 4 Intangible assets
      • Note 5 Investments in associates and joint ventures
      • Note 6 Investments in bonds
      • Note 7 Other financial assets (including current portion)
      • Note 8 Derivatives
      • Note 9 Inventories 
      • Note 10 Trade and other receivables
      • Note 11 Cash and cash equivalents
      • Note 12 Equity
      • Note 13 Interest-bearing debt
      • Note 14 Deferred income
      • Note 15 Provisions for employee benefits
      • Note 16 Other provisions
      • Note 17 Deferred tax
      • Note 18 Trade and other payables
      • Note 19 Leases
      • Note 20 Contingent assets and liabilities
      • Note 21 Revenue
      • Note 22 Other income 
      • Note 23 Purchase costs and costs of subcontracted work
      • Note 24 Employee benefit expenses
      • Note 25 Other operating expenses
      • Note 26 Depreciation/amortisation and impairment of non-current assets
      • Note 27 Finance income
      • Note 28 Finance expense
      • Note 29 Tax
      • Note 30 Notes to the consolidated cash flow statement
      • Note 31 Licences
      • Note 32 Related parties
      • Note 33 Assets and liabilities held for sale and discontinued operations
      • Note 34 Information on risks and financial instruments
      • Note 35 Assumptions and estimates used in the financial statements (critical accounting policies)
      • Note 36 Events after balance sheet date
    • Company financial statements
      • Company balance sheet (as at 31 December, before appropriation of profit)
      • Company income statement
    • Notes to the company financial statements
      • Accounting policies
      • Note 37 Property, plant, equipment and right-of-use assets
      • Note 38 Intangible assets
      • Note 39 Investments in subsidiaries and associates
      • Note 40 Other financial assets 
      • Note 41 Other receivables and receivables from subsidiaries
      • Note 42 Cash and cash equivalents
      • Note 43 Equity
      • Note 44 Non-current liabilities
      • Note 45 Finance lease payables
      • Note 46 Deferred income
      • Note 47 Provisions
      • Note 48 Current and accrued liabilities
      • Note 49 Contingent assets and liabilities
      • Note 50 Operating income
      • Note 51 Costs of subcontracted work and other external expense
      • Note 52 Employee benefit expense
      • Note 53 Depreciation/amortisation and impairment of non-current assets
      • Note 54 Other operating expenses
      • Note 55 Finance income
      • Note 56 Finance expense
      • Note 57 Tax
      • Note 58 Share in profit/loss from investments in affiliated companies
    • Proposed profit appropriation for 2024
    • Events after the balance sheet date
    • Subsidiaries and other associates
  • Other information
    • Profit appropriation
    • Independent auditor’s report
    • Limited assurance report of the independent auditor on the sustainability statement
    • Opinion of the Alliander stakeholder panel
    • Five-year summary
    • Other non-financial information
    • Terms, abbreviations and definitions

2021

  • 2021 Half-Year Report

  • 2021 Annual Report

2022

  • 2022 Half-Year Report

  • 2022 Annual Report

2023

  • 2023 Half-Year Report

  • 2023 Annual Report

2024

  • 2024 Annual Report

  • 2024 Half-Year Report

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