5. Intangible assets
Movements in intangible assets in 2025 were as follows:
| In millions of euros | Carrying amount as at 1 Jan. 2025 | Investments | Transfers | Disposals | Depreciation | Carrying amount as at 31 Dec. 2025 |
|---|---|---|---|---|---|---|
| Software | 86.3 | - | 33.5 | - | -13.5 | 106.3 |
| Fixed assets under construction | 53.7 | 35.5 | -33.5 | - | - | 55.7 |
| Total for 2025 financial year | 140.0 | 35.5 | - | - | -13.5 | 162.0 |
The intangible assets exclusively concern capitalised software. The investments in 2025 included investments in software to prepare the full process from customer registration through to invoicing for new energy carriers.
The amortisation period for intangible assets varies between five and fifteen years, depending on the nature of the software.
Movements in intangible assets in 2024 were as follows:
| In millions of euros | Carrying amount as at 1 Jan. 2024 | Investments | Transfers | Disposals | Depreciation | Carrying amount as at 31 Dec. 2024 |
|---|---|---|---|---|---|---|
| Software | 28.7 | - | 67.3 | - | -9.7 | 86.3 |
| Fixed assets under construction | 61.5 | 59.5 | -67.3 | - | - | 53.7 |
| Total for 2024 financial year | 90.2 | 59.5 | - | - | -9.7 | 140.0 |
The cost and accumulated amortisation of intangible assets were as follows:
| In millions of euros | Cost as at 31 Dec. 2025 | Accumulated depreciation as at 31 Dec. 2025 * | Cost as at 31 Dec. 2024 | Accumulated depreciation as at 31 Dec. 2024 * |
|---|---|---|---|---|
| Software | 189.9 | -83.6 | 156.4 | -70.1 |
| Fixed assets under construction | 55.7 | - | 53.7 | - |
| Total | 245.6 | -83.6 | 210.1 | -70.1 |