Consolidated statement of financial position

Consolidated statement of financial position as at 31 December 2024

(before appropriation of result)

In millions of euros Notes 31 Dec. 2024 31 Dec. 2023
       
Assets      
       
Fixed assets      
- tangible fixed assets 4.5 9,434.2 9,237.2
- intangible fixed assets 6 140.0 90.2
- investments in joint ventures 8 666.7 488.3
- investments in associates 9 18.9 0.6
- other participating interests 10 7.0 7.0
- deferred tax assets 11 221.0 222.1
- derivative financial instruments 24 2.5 6.1
       
Total fixed assets   10,490.3 10,051.5
       
Current assets      
- inventories 12 142.1 169.9
- derivative financial instruments 24 4.5 0.8
- trade and other receivables 13 317.5 441.3
- corporate income tax 14 27.7 60.3
- cash and cash equivalents 15 66.4 294.7
       
Total current assets   558.2 967.0
       
Total assets   11,048.5 11,018.5
In millions of euros Notes 31 Dec. 2024 31 Dec. 2023
       
Liabilities      
       
Equity      
- attributable to the N.V. Nederlandse Gasunie 16 6,382.9 6,580.0
- attributable to holder non-controlling interest 17 17.6 16.0
       
Total equity   6,400.5 6,596.0
       
Non-current liabilities      
- interest-bearing loans 18 3,274.8 2,900.5
- lease liabilities 19 104.0 93.6
- contract liabilities 20 85.1 86.9
- deferred tax liabilities 21 190.5 209.5
- employee benefits 22 95.7 96.8
- other provisions 23 27.8 78.7
- derivative financial instruments 24 10.9 22.7
- other non-current liabilities 25 19.7 10.2
       
Total non-current liabilities   3,808.5 3,498.9
       
Current liabilities      
- current financing liabilities 26 280.0 175.0
- lease liabilities 19 9.7 8.0
- contract liabilities 20 5.3 4.9
- derivative financial instruments 24 11.6 3.4
- trade and other payables 27 532.4 728.3
- corporate income tax 14 0.5 4.0
       
Total current liabilities   839.5 923.6
       
Total liabilities   11,048.5 11,018.5

Consolidated statement of profit and loss for 2024

In millions of euros Notes   2024   2023
           
Continuing operations          
Net revenue 30 1,253.0   1,955.0  
Other revenue 31 41.4   106.0  
           
Total revenues     1,294.4   2,061.0
           
Capitalised expenses 5.6 130.6   111.8  
Personnel expenses 32 -330.0   -281.0  
Depreciation costs 5,6,33 -353.7   -404.9  
Other costs 34 -634.1   -872.3  
           
Total expenses     -1,187.2   -1,446.4
           
Operating result     107.2   614.6
           
Financial income 35   21.2   17.7
Financial expenses 36   -79.3   -74.6
Share in result of joint ventures 8   33.2   38.0
           
Result before taxation     82.3   595.7
           
Income taxes 37   -12.1   -112.4
           
Result after taxation     70.2   483.3
           
Allocation of the result after taxation          
- Result attributable to the N.V. Nederlandse Gasunie 49   67.8   482.3
- Result attributable to holder non-controlling interest 17   2.4   1.0
           
Result after taxation     70.2   483.3

Consolidated statement of other comprehensive income for 2024

In millions of euros Notes   2024   2023
           
Result after taxation according to consolidated statement of profit and loss     70.2   483.3
           
Sum of actuarial gains and losses on employee benefits 22,48 3.9   -7.9  
of which corporate income tax 23,48 -1.2   2.4  
           
Total of results taken to equity which will not be reclassified to profit and loss     2.7   -5.5
           
Changes in the cash flow hedge reserve concerning joint ventures and associates 8,46 -1.7   -1.1  
           
Total of results taken to equity which will be reclassified subsequently to profit and loss     -1.7   -1.1
           
Other comprehensive income     1.0   -6.6
           
Total comprehensive income for the year     71.2   476.7
           
Allocation of the total comprehensive income for the year          
- Comprehensive income attributable to the N.V. Nederlandse Gasunie     68.8   475.7
- Comprehensive income attributable to non-controlling interest     2.4    1.00 
           
Total comprehensive income for the year     71.2   476.7

Consolidated statement of changes in equity for 2024

In millions of euros Share capital Fair value reserve Cash flow hedge reserve Other reserves Unappropriated result Total equity attributable to shareholder Total equity attributable to holder non-controlling interest Total equity
                 
Notes 45 47 46 48 49   17  
                 
2024                
Balance as at 1 January 2024 0.2 -172.7 -6.7 6,277.1 482.3 6,580.0 16.0 6,596.0
                 
Result for the financial year - - - - 67.8 67.8 2.4 70.2
                 
Other comprehensive income for the financial year - - -1.7 2.7 - 1.0 - 1.0
                 
Total comprehensive income for the year - - -1.7 2.7 67.8 68.8 2.4  71.2 
                 
Dividend paid for 2023 - - - - -266.0 -266.0 -0.8 -266.8
                 
Added to other reserves - - - 216.3 -216.3  -   -   - 
                 
Balance as at 31 December 2024 0.2 -172.7 -8.4 6,496.1 67.8 6,382.9  17.6  6,400.5
                 
2023                
Balance as at 1 January 2023 0.2 -172.7 -5.6 5,927.7 554.9 6,304.4 - 6,304.4
                 
Result for the financial year - - - - 482.3 482.3 1.0 483.3
                 
Other comprehensive income for the financial year - - -1.1 -5.5 - -6.6 - -6.6
                 
Total comprehensive income for the year - - -1.1 -5.5 482.3 475.7 1.00 476.7
                 
Acquisition GUFU BBL - - - - - - 23.5 23.5
                 
Dividend paid for 2022 - - - - -200.0 -200.0 -8.5 -208.5
                 
Added to other reserves - - - 354.9 -354.9 - - -
                 
Balance as at 31 December 2023 0.2 -172.7 -6.7 6,277.1 482.3 6,580.0 16.0 6,596.0

Consolidated cash flow statement for 2024

In millions of euros Notes   2024   2023
           
Cash flow from operating activities          
Revenues 3,30,31 1,294.4   2,061.0  
Total expenses 32,33,34 -1,187.2   -1,446.3  
           
Operating result     107.2   614.7
           
Adjustments for:          
- depreciation costs 5,6,33   341.3   403.0
- change in inventories 12   27.8   29.8
- change in net working capital 13.27   -105.6   61.5
- change in provisions 22.23   -52.1   10.6
- result disposal (in)tangible fixed assets 33   12.4   1.9
- result disposal group companies 2.31   -   -29.5
- remeasurement joint ventures 2.31   -   -29.5
- bargain purchase group companies 2.31   -   -15.2
           
Cash flow from corporate activities     331.0   1,047.3
           
Interest received 35 17.8   12.1  
Dividend received from joint ventures 8 33.3   39.3  
Interest paid on leases 19 -1.7   -8.0  
Interest paid on financing 36 -65.9   -84.8  
Corporate income tax paid 37 -37.3   -162.8  
Corporate income tax refund 37 45.7   20.0  
           
      -8.1   -184.2
Cash flow from operating activities     322.9   863.1
           
Cash flow from investing activities          
Investments in tangible fixed assets 5   -561.9   -660.2
Investments in intangible fixed assets 6   -59.5   -47.2
Disposals of tangible fixed assets 5   0.3   7.8
Investments in joint ventures 8.9   -174.3   -101.5
Uptake of loans by joint ventures 8.9   -69.0   -46.0
Repayment of loans by joint ventures 8.9   44.7   42.0
Acquisitions of group companies, after deduction of purchased cash and cash equivalents 2   0.0   -18.7
Disposals group companies and joint ventures, after deduction of purchased cash and cash equivalents 8,13,31   39.5   -12.1
Disposals of joint ventures 8,13,31   27.2   20.4
           
Cash flow from investing activities     -753.0   -815.4
           
Cash flow from financing activities          
Uptake of long-term loans 18   498.2   298.4
Repayment of long-term loans 18   -175.0   -225.0
Lease payments 19   -9.3   -54.0
Uptake of short-term financing 26   155.0   435.0
Repayment of short-term financing 26   -   -435.0
Dividend paid to share holder 16.49   -266.0   -208.5
Dividend paid to holder non-controlling interest 17   -0.8    - 
           
Cash flow from financing activities     202.1   -189.1
           
Net cash flow for the financial year     -228.0   -141.4
           
Cash and cash equivalents at previous year-end 15   294.7   435.9
Effects of exchange rate changes on cash and cash equivalents     -0.2   0.2
           
Cash and cash equivalents at year-end 15   66.5   294.7