36. Income taxes
The tax expense was as follows:
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Corporate income tax for the financial year | 10.5 | 29.1 |
| Corporate income tax for the previous financial years | -0.4 | 2.1 |
| Movement in deferred taxation | -61.7 | -19.1 |
| Total tax expense | -51.6 | 12.1 |
In 2025, € 2.5 million in taxes was directly recognised in other comprehensive income (2024: € 1.2 million). This concerned the tax effect of the actuarial adjustments of the German defined benefit pension plan, which we also took directly to other comprehensive income. We provide more information on this tax effect in note 21 ‘Employee benefits’.
The effective tax rate was as follows:
| In percentages and millions of euros | 2025 | 2024 | ||
|---|---|---|---|---|
| Result before taxation | 33.4 | 82.3 | ||
| Applicable tax rate in the Netherlands | 25.8% | 8.6 | 25.8% | 21.2 |
| Effect of tax rates in other countries | 1.7% | 0.6 | 1.6% | 1.3 |
| Effect participation exemption | -12.5% | -4.2 | -11.6% | -9.5 |
| Effect of corporate income tax rate change on deferred taxation | -90.8% | -30.3 | 1.9% | 1.6 |
| Effect of innovation box and EIA | -67.9% | -22.6 | -7.0% | -5.8 |
| Prior-year adjustments | -10.4% | -3.5 | 3.2% | 2.6 |
| Other differences | -1.1% | -0.2 | 0.8% | 0.7 |
| Effective rate | -155.2% | -51.6 | 14.7% | 12.1 |
The effective tax rate in 2025 deviated significantly from the applicable tax rate in the Netherlands. This can be attributed primarily to the gradual lowering of the future corporate income tax rate in Germany (the Körperschaftsteuersatz). We provide more information on this change in note 20 ‘Deferred tax liabilities’. Gasunie invests heavily in the energy transition. A number of the investments qualify for generally available tax incentives, such as the energy investment allowance. Due to the growing size of our investments in 2025, these tax incentives have a significant impact on the effective tax burden. The other differences concerned various non-deductible amounts.
The tax expenses for 2025 do not include taxes relating to levies resulting from the Pillar Two framework. Based on the Pillar Two provisions, we estimate that we can apply the CbCR Safe Harbour rule over 2025. Our analysis shows that we meet the de minimis test or the routine profit test in all jurisdictions, which would mean that for 2025 no additional tax will be imposed under Pillar Two legislation (same as in 2024).