27. Trade and other payables

Trade and other payables increased primarily due to higher purchases of materials and services from contractors, driven by growth of spending on the expansion, operation and maintenance of our networks. Taxes, social security contributions, and employee entitlements (in particular, provisions for holiday pay and leave hours) increased primarily due to higher employee headcount and wage increases. In addition, interest payable, which is part of other payables, increased due to the issuance of new green bonds with a nominal value of € 1,500 million in 2025. For further information on the issue of the bonds, please refer to note 22 ‘Interest-bearing liabilities (non-current)’.