Note 22 Other income

Other income in 2025 amounted to €124 million (2024: €838 million).

On 24 April 2025, Liander completed the sale of the Randmeren high-voltage network (held by Nadine II B.V.) to TenneT TSO B.V. This sale is the result of from the legal obligation under the Independent Network Operation Act (Wet onafhankelijk netbeheer, or WON) to transfer 110 kV and 150 kV networks to the national grid operator TenneT. When this legislation came into force in 2008, the Randmeren network still came under an ongoing cross-border lease, exempting Liander from the transfer obligation for this network. Termination of this lease in January 2025 meant that Liander had to transfer the network after all.

The sale was effectuated through a share transaction by Nadine II B.V., to which the network in question, the associated customer contracts and a small number of other assets and liabilities had been transferred. Liander received proceeds of €139 million from the sale. The gain on disposal of €30 million was recognised in other income.

As part of the sale of Kenter B.V. as realised in January 2024, Liander and Kenter agreed a deal on the purchase and sale of transformers in the free domain. These transformers could not be transferred from Liander to Kenter at that time because Liander was not yet authorised to do so due to a cross-border lease that was still in effect. When this cross-border lease ended as of 2 January 2025, Liander regained full economic and legal ownership of the transformers and subsequently transferred them to Kenter on 30 June 2025 for a purchase price that was ultimately set at €62 million. The total gross gain on disposal of €54 million was recognised in other income. The net gain, after deducting corporate income tax, was €40 million.

On 31 January 2024, Alliander sold the shares of its subsidiary Kenter, a provider of integrated energy solutions, to a consortium consisting of ABP and OMERS Infrastructure. The consortium also obtained full control of Kenter and its subsidiaries with effect from this date. In previous years, Kenter had grown from a traditional metering company with 95 employees to an integrated energy solution provider with a workforce of over 400. Kenter was part of the Alliander cash pool and had no cash or cash equivalents of its own. Alliander received a total of €919 million in 2024. The gain on the Kenter disposal of €757 million was recognised in other income in 2024.

Together with the other regional network operators in the Netbeheer Nederland association, Liander had concluded a settlement agreement with the State of the Netherlands for the costs of removing gas connections requested by small consumers during the period from 2 March 2021 to 31 January 2024. The Code Decision that took effect on 2 March 2021 stated that regional network operators should fully recharge these costs via the regular connection charge paid by the remaining gas network customers. The Dutch Trade and Industry Appeals Tribunal (CBb) overturned this Code Decision on 20 June 2023. As a result, regional network operators are not permitted to recharge the removal costs for requests made between 2 March 2021 and 31 January 2024 via the regular connection charges. Due to the resulting loss, the regional network operators concluded a settlement agreement with the State of the Netherlands under which the ACM would pay a settlement to the regional network operators. In 2024, Liander received a settlement payment of €30 million, which was recognised in other income.