Consolidated cash flow statement

€ Million

Notes

2024

2023

Profit for the year

254

199

Adjustments for:

Depreciation and decommissioning

5

509

468

Amortised contributions for installation of grids and connections

24

-38

-34

Received contributions for installation of grids and connections

24

107

126

Change in deferred corporate income tax

25

42

47

Change in non-current provisions

23

1

-7

Financial income

9

-6

-19

Financial expenses

9

52

40

Corporate income tax expense recognised through profit or loss

11

44

-32

Profit on sale of Fudura B.V.

29

41

-9

Change in operational working capital excluding tax and interest

12

-10

0

Other

3

3

Interest received

29

1

14

Interest paid

29

-43

-31

Corporate income tax paid or received

29

-37

-11

Cash flow from operating activities

920

627

Investments in property, plant and equipment

12

-1,433

-1,098

Investments in intangible assets

13

-54

-45

Cash flow from investing in (in)tangible fixed assets

-1,487

-1,143

Cash flow from operating activities and investing in (in)tangible fixed assets

-567

-516

Net proceeds from sale of assets

12

11

0

Loans granted

15

-6

-3

Repayment of loans granted

15

6

8

Increase in deposits¹

0

-500

Decrease in deposits¹

0

1,150

Cash flow from other investing activities

11

655

Cash flow from investing activities

-1,476

-488

Cash flow before financing activities

-556

139

Green bond issue

22 en 28

494

498

Increase in interest-bearing liabilities²

22 en 28

960

0

Repayment of interest-bearing liabilities²

22 en 28

-910

-502

Repayment of lease liability

22 en 28

-33

-32

Dividend paid

31

-36

-193

Cash flow from financing activities

475

-229

Total cash flows

-81

-90

Cash and cash equivalents at the beginning of the financial year

29

127

217

Cash and cash equivalents at the end of the financial year

29

46

127