Consolidated statement of financial position as at 31 December 2025

(before profit appropriation)

In millions of euros	Notes	31 Dec. 2025	31 dec. 2024
Assets
Fixed assets
- property, plant and equipment	3.4	9,719.0	9,434.2
- intangible assets	5	162.0	140.0
- investments in joint ventures	7	1,098.1	666.7
- investments in associates	8	20.7	18.9
- other participating interests	9	7.0	7.0
- deferred tax assets	10	247.5	221.0
- derivative financial instruments	23	2.3	2.5
Total fixed assets		11,256.6	10,490.3
Current assets
- inventories	11	134.1	142.1
- derivative financial instruments	23	5.0	4.5
- trade and other receivables	12	339.6	317.5
- corporate income tax	13	37.2	27.7
- cash and cash equivalents	14	28.6	66.4
Total current assets		544.5	558.2
Total assets		11,801.1	11,048.5

In millions of euros	Notes	31 dec. 2025	31 Dec. 2024
Liabilities
Equity
- attributable to the N.V. Nederlandse Gasunie	15	6,477.6	6,382.9
- attributable to holder non-controlling interest	16	16.7	17.6
Total equity		6,494.3	6,400.5
Non-current liabilities
- interest-bearing loans	17	3,371.0	3,274.8
- lease liabilities	18	103.4	104.0
- contract liabilities	19	96.0	85.1
- deferred tax liabilities	20	157.8	190.5
- employee benefits	21	96.6	95.7
- other provisions	22	33.3	27.8
- derivative financial instruments	23	7.6	10.9
- other non-current liabilities	24	25.0	19.7
Total non-current liabilities		3,890.7	3,808.5
Current liabilities
- current financing liabilities	25	800.0	280.0
- lease liabilities	18	11.6	9.7
- contract liabilities	19	5.9	5.3
- derivative financial instruments	23	9.8	11.6
- trade and other payables	26	588.8	532.4
- corporate income tax	13	-	0.5
Total current liabilities		1,416.1	839.5
Total liabilities		11,801.1	11,048.5

Consolidated statement of profit or loss for 2025

In millions of euros	Notes		2025		2024
Continuing operations
Net revenue	29	1,551.0		1,253.0
Other revenue	30	51.2		41.4
Total revenues			1,602.2		1,294.4
Capitalised expenses	4.5	152.4		130.6
Personnel expenses	31	-388.4		-330.0
Depreciation costs	4,5,32	-374.2		-353.7
Impairments	4	-140.7
Other costs	33	-749.7		-634.1
Total expenses			-1,500.5		-1,187.2
Operating result			101.7		107.2
Financial income	34		10.2		21.2
Financial expenses	35		-96.0		-79.3
Share in result of joint ventures	7		17.5		33.2
Result before taxation			33.4		82.3
Income taxes	36		51.6		-12.1
Result after taxation			85.0		70.2
Allocation of the result after taxation
- Result attributable to the N.V. Nederlandse Gasunie	47		83.6		67.8
- Result attributable to holder non-controlling interest	16		1.4		2.4
Result after taxation			85.0		70.2

Consolidated statement of other comprehensive income for 2025

In millions of euros	Notes		2025		2024
Result after taxation according to consolidated statement of profit and loss			85.0		70.2
Sum of actuarial gains and losses on employee benefits	21.46	8.3		3.9
of which corporate income tax	20.46	-2.5		-1.2
Total of results taken to equity which will not be reclassified to profit and loss			5.8		2.7
Changes in the cash flow hedge reserve concerning joint ventures and associates	7.44	5.3		-1.7
Total of results taken to equity which will be reclassified subsequently to profit and loss			5.3		-1.7
Other comprehensive income			11.1		1.0
Total comprehensive income for the year			96.1		71.2
Allocation of the total comprehensive income for the year
- Comprehensive income attributable to the N.V. Nederlandse Gasunie			94.7		68.8
- Comprehensive income attributable to non-controlling interest			1.4		2.4
Total comprehensive income for the year			96.1		71.2

Consolidated statement of changes in equity for 2025

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	43	15	44	46	47		16
2025
Balance as at 1 January 2025	0.2	-172.7	-8.4	6,496.1	67.8	6,382.9	17.6	6,400.5
Result for the financial year	-	-	-	-	83.6	83.6	1.4	85.0
Other comprehensive income for the financial year	-	-	5.3	5.8	-	11.1	-	11.1
Total comprehensive income for the year	-	-	5.3	5.8	83.6	94.7	1.4	96.1
Dividend paid for 2024	-	-	-	-	-	-	-2.3	-2.3
Added to other reserves	-	-	-	67.8	-67.8	-	-	-
Balance as at 31 December 2025	0.2	-172.7	-3.1	6,569.7	83.6	6,477.6	16.7	6,494.3
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

Consolidated statement of cash flows for 2025

In millions of euros	Notes		2025		2024
Cash flow from operating activities
Revenues	2,29,30	1,602.2		1,294.4
Total expenses	31,32,33	-1,500.5		-1,187.2
Operating result			101.7		107.2
Adjustments for:
- depreciation costs	4,5,32		370.4		341.3
- impairments	3.4		140.7		-
- change in inventories	11		8.0		27.8
- change in net working capital	12.26		38.4		-105.6
- change in provisions	21.22		11.0		-52.1
- change in fair value of derivative financial instruments	23		-		-
- result disposal intangible assets and property, plant and equipment	32		3.8		12.4
Cash flow from corporate activities			674.0		331.0
Interest received	34	9.6		17.8
Dividend received from joint ventures	7	25.4		33.3
Interest paid on leases	18.35	-1.9		-1.7
Interest paid on financing	35	-86.5		-65.9
Corporate income tax paid	36	-30.3		-37.3
Corporate income tax refund	36	9.9		45.7
			-73.8		-8.1
Cash flow from operating activities			600.2		322.9
Cash flow from investing activities
Investments in tangible fixed assets	4	-769.5		-561.9
Investments in intangible fixed assets	5	-35.4		-59.5
Disposals of tangible fixed assets	4	0.6		0.3
Investments in joint ventures and associates	7.8	-422.4		-174.3
Uptake of loans by joint ventures and associates	7.8	-13.9		-69.0
Repayment of loans by joint ventures and associates	7.8	0.4		44.7
Disposals group companies and joint ventures, after deduction of purchased cash and cash equivalents		-		39.5
Disposals of joint ventures	7	-		27.2
Cash flow from investing activities			-1,240.2		-753.0
Cash flow from financing activities
Uptake of long-term loans	17	743.3		498.2
Repayment of long-term loans	17	-125.0		-175.0
Lease payments	18	-9.9		-9.3
Uptake of short-term financing	25	505.1		155.0
Repayment of short-term financing	25	-510.1		-
Dividend paid to share holder	15.47	-		-266.0
Dividend paid to holder non-controlling interest	16	-2.3		-0.8
Cash flow from financing activities			601.1		202.1
Net cash flow for the financial year			-38.9		-228.0
Cash and cash equivalents at previous year-end	14		66.4		294.7
Effects of exchange rate changes on cash and cash equivalents			1.1		-0.3
Cash and cash equivalents at year-end	14		28.6		66.4