Note 3 Property, plant, equipment and right-of-use assets

Property, plant and equipment

Investments

Investments in property, plant and equipment during the financial year totalled €2,071 million (2024: €1,772 million).

Divestments

Divestments in 2024 and 2025 related to the decommissioning of buildings, network assets and other plant and equipment.

New consolidations

No new entities were added to the consolidated companies in 2025 and 2024.

Impairments

There were no impairments in 2025 or in 2024.

Reclassification and other changes

Software, with a carrying amount of €47 million, was reclassified to intangible assets as at 1 January 2025.

Reclassification to assets held for sale

The reclassification to assets held for sale in 2024 relates to Warmtenetwerk Hengelo B.V. For further disclosures with respect to assets held for sale, please refer to note 33.

CBL transactions

In the period from 1998 to 2000, subsidiaries of Alliander used cross-border lease transactions for networks with US investors. The networks were leased to US parties for a long period of time (head lease), and they in turn subleased the assets to the various Alliander subsidiaries (sublease). At the end of the sublease, there was the option of purchasing the rights of the US counterparty under the head lease, thus ending the transaction. The fees earned on the cross-border leases were recognised in the year in which the transaction in question was concluded. On 2 January 2025, the last remaining cross-border lease ended. Consequently, there are longer any gas or district heating networks with an American lease. Alliander fulfilled its conditional and unconditional contractual rights and obligations regarding the financial settlement of the contract at the end of 2025. Consequently, there are no longer any electricity, gas or district heating networks with an American lease at the end of 2025 (2024: €510 million).

No further conditional or unconditional contractual rights and obligations existed in relation to these CBL transactions at the end of 2025 (2024: €674 million).

Since Alliander has no control over the investments and associated liabilities, they were not regarded as assets and liabilities of Alliander at the end of 2024 and the amounts concerned were not recognised in Alliander’s consolidated financial statements.

Right-of-use assets

The greatest part of these assets relates to business premises and lease vehicles. Ground rents and the rental of telecommunication masts and connections are also accounted for in this amount. Lease amendments include a (partial) early settlement of a lease, extensions and indexation.