Balance sheet

The abridged balance sheet as at 31 December 2024 is shown below.

 

Alliander N.V.

€ million

31 December 2024

31 December 2023

Assets

    

Non-current assets

11,719

10,509

Current assets

1,229

957

Assets held for sale

8

180
     

Total assets

12,956

11,646
     

Equity and liabilities

    

Total equity

6,038

4,749

Non-current liabilities

6,092

5,296

Short-term liabilities

816

1,581

Liabilities held for sale

10

20
     

Total equity and liabilities

12,956

11,646

The significant changes in the balance sheet as at 31 December 2024 compared to the situation as at 31 December 2023 are explained below. Detailed information on balance sheet items is given in the financial statements.

  • Non-current assets increased by €1.2 billion. This increase is explained by our investments in property, plant and equipment, amounting to nearly €1.8 billion. Together with depreciation and divestments (€600 million), this results in an increase in property, plant and equipment of €1.2 billion.

  • Current assets rose by €272 million. The key cause of this rise is the €252 million increase in cash and cash equivalents. During 2024, funds were received as a result of the sale of Kenter (over €900 million), the issue of a convertible bond loan (€500 million) and the issue of an EMTN loan (€741 million), which were partly used for our repayment obligations and to finance the free cash flow. The balance of the funds received was added to cash and cash equivalents.

  • The assets and liabilities held for sale at the end of 2024 relate to Warmtenetwerk Hengelo. At the end of 2023, this item related to Kenter

  • Equity increased by €1.3 billion. This is mainly due to the €976 million result for the financial year and to the issue of the convertible bond loan, which qualifies as an equity instrument under IFRS (€495 million). This is offset by the €173 million dividend paid and the €8 million coupon interest paid for hybrid holders. Of the dividend paid, €120 million relates to the 2023 result appropriation and €53 million to interim dividend on the proceeds from the sale of Kenter. A summary of the movements can be found in note 12 to the financial statements.

  • The €796 million increase in non-current liabilities mainly relates to the €741 million in capital raised through the newly arranged EMTN loan. Current liabilities decreased by €765 million due to repayment of existing EMTN (€400 million) and ECP (€500 million) loan facilities. The accruals and deferred income item includes €5 million as an advance payment on the transformers that will be transferred to Kenter in 2025.