Note 19 Leases
Finance lease receivables
Finance lease receivables are as follows:
|
€ million |
Less than 1 year |
Between 1 and 5 years |
Over 5 years |
Total |
|
As at 31 December 2024 |
||||
|
Future minimum lease receivables |
1 |
- |
- |
1 |
|
Unearned finance income |
- |
- |
- |
- |
|
Present value of future minimum lease receivables |
1 |
- |
- |
1 |
|
As at 31 December 2023 |
||||
|
Future minimum lease receivables |
1 |
1 |
1 |
3 |
|
Unearned finance income |
-1 |
- |
- |
-1 |
|
Present value of future minimum lease receivables |
- |
1 |
1 |
2 |
Finance lease receivables as at year-end 2024 concern the rental of transformers.
Off-balance sheet operating lease receivables
The total future minimum lease receivables from non-cancellable operating leases not shown on the face of the balance sheet are as follows:
|
€ million |
2024 |
2023 |
|
Less than 1 year |
15 |
29 |
|
Between 1 and 2 years |
2 |
19 |
|
Between 2 and 3 years |
1 |
18 |
|
Between 3 and 4 years |
1 |
18 |
|
Between 4 and 5 years |
1 |
18 |
|
Over 5 years |
5 |
141 |
|
Total as at 31 December |
25 |
243 |
The operating leases at year-end 2024 mainly relate to the rental of buildings and the lease of two district heating networks to Vattenfall Warmte N.V., part of Vattenfall N.V. The decrease in this amount in 2024 compared to 2023, €195 million is due to the Kenter disposal.
Lease liabilities
|
€ million |
Less than 1 year |
Between 1 and 5 years |
Over 5 years |
Total |
|
As at 31 December 2024 |
||||
|
Future lease payments of the on-balance lease liabilities |
26 |
70 |
50 |
146 |
|
Future finance expenses on the on-balance lease liabilities |
-1 |
-3 |
-2 |
-6 |
|
Present value of the on-balance lease liabilities |
25 |
67 |
48 |
140 |
|
As at 31 December 2023 |
||||
|
Future lease payments of the on-balance lease liabilities |
25 |
58 |
53 |
136 |
|
Future finance expenses on the on-balance lease liabilities |
-2 |
-3 |
-1 |
-6 |
|
Present value of the on-balance lease liabilities |
23 |
55 |
52 |
130 |
Alliander has lease liabilities in respect of buildings, spaces, telecommunication interconnections and vehicles.
Besides the above lease liabilities, there was an undiscounted amount of €8 million in relation to leases which Alliander has entered into but which had not yet started at year-end 2024, relating mainly to vehicles. At year-end 2023 this was €12 million.