Annual Report 2023

Note 52 Employee benefit expense

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

Annual Report 2023

Note 53 Depreciation and amortisation

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

Annual Report 2023

Note 54 Other operating expenses

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

Annual Report 2023

Note 55 Finance income

The finance income from loans to group companies was up by €52 million compared with 2022 as a result of the higher interest rates charged.

Annual Report 2023

Note 56 Finance expense

Finance expenses were €25 million higher than in 2022 due to the new finance raised, which was arranged at higher interest rates.

Annual Report 2023

Note 57 Tax

The effective tax burden was 62% negative.

Annual Report 2023

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

Coming in at €264 million after tax, the share in the profits of affiliated companies was up by €67 million compared to 2022, primarily as a result of higher profits at network operator Liander.

Annual Report 2023

Note 6 Investments in bonds

There were no investments in bonds in 2023 and 2022.

Annual Report 2023

Note 7 Other financial assets (including current portion)

The carrying amount of the other financial assets item as at year-end 2023 includes a current receivable in respect of security deposits paid (€47 million), a receivable from the Municipality of Amsterdam relating to the Spaklerweg site (€7

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Note 52 Employee benefit expense

Note 53 Depreciation and amortisation

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

Note 6 Investments in bonds

Note 7 Other financial assets (including current portion)

Note 8 Derivatives