Annual Report 2025

Note 33 Assets and liabilities held for sale and discontinued operations

At year-end 2025, there were no assets or liabilities held for sale.

Annual Report 2025

Note 34 Information on risks and financial instruments

The following financial risks can be identified: market risk, credit risk and liquidity risk. Market risk is defined as the risk of loss due to an adverse change in market prices.

Annual Report 2025

Note 35 Assumptions and estimates used in the financial statements (critical accounting policies)

Alliander prepares its financial statements in accordance with International Financial Reporting Standards that have been endorsed for use in the European Union by the European Commission.

Annual Report 2025

Note 36 Events after balance sheet date

No events occurred after the balance-sheet date which should be disclosed.

Annual Report 2025

Note 37 Property, plant, equipment and right-of-use assets

Investments in property, plant and equipment during the financial year totalled €32 million (2024: €53 million). They related to investments in hardware, software and accommodation.

Annual Report 2025

Note 38 Intangible assets

Intangible assets at year-end 2025, and also at year-end 2024, are largely made up of goodwill relating to the acquisition of Endinet (€61 million), which is allocated to Liander, and goodwill relating to Stam (€7 million), see also note 4.

Annual Report 2025

Note 39 Investments in subsidiaries and associates

In 2025, Alliander received €822 million (2024: €1 million) in dividends from subsidiaries. The increase in dividends is due to the large profit at the subsidiary Alliander Corporate Ventures B.V.

Annual Report 2025

Note 4 Intangible assets

Reclassification and other movements include a reclassification of software with a value of €47 million from property, plant and equipment as at 1 January 2025.

Annual Report 2025

Note 40 Other financial assets

At year-end 2025, a deferred tax liability exists, which is disclosed under other provisions. See note 47. For more details about the tax position, please refer to note 17 to the consolidated financial statements.

Annual Report 2025

Note 41 Other receivables and receivables from subsidiaries

There is group-wide financing for receivables from group companies within the Alliander group, meaning that the activities of the subsidiaries are part-financed through a current account facility with the holding company.

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Note 33 Assets and liabilities held for sale and discontinued operations

Note 34 Information on risks and financial instruments

Note 35 Assumptions and estimates used in the financial statements (critical accounting policies)

Note 36 Events after balance sheet date

Note 37 Property, plant, equipment and right-of-use assets

Note 38 Intangible assets

Note 39 Investments in subsidiaries and associates

Note 4 Intangible assets

Note 40 Other financial assets

Note 41 Other receivables and receivables from subsidiaries