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General information on the company
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Corporate name and registered office
\n
The registered office of the parent entity Fluxys Belgium SA is
\n\n
Avenue des Arts 31,
\n
B \u2013 1040 Brussels
\n\n
, Belgium.
\n
Group activities
\n
\n\n
The main activities of the Fluxys Belgium group are transmission and storage of natural gas
\n
as well as terminalling services for liquefied natural gas (LNG) in Belgium
\n\n
. The Fluxys
\n
Belgium group also provides complementary services related to these main activities.
\n
Transmission, storage and terminalling services in Belgium are subject to the Gas Act
\n
1
\n
.
\n
Please refer to the specific chapters in the directors\u2019 report for further information on the
\n
activities of Fluxys Belgium group.
\n
\n\n

\n\n
Note 2.1. General principles
\n
The financial statements fairly present Fluxys Belgium group\u2019s financial position, results of
\n
operations and cash flows.
\n
The group\u2019s financial statements have been prepared on the accrual basis of
\n
accounting, except for the cash flow statement.
\n
Assets and liabilities have not been offset against each other, except when required or
\n
allowed by an international accounting standard.
\n
Current and non-current assets and liabilities have been presented separately in the
\n
balance sheet of the Fluxys Belgium group.
\n
The accounting policies have been applied in a consistent manner.
\n

\n\n\n\n

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Note 1a. Statement of compliance with IFRS
\n
The consolidated financial statements of the Fluxys Belgium group for the financial year
\n
ended 31 December 2024 have been prepared in accordance with IFRS accounting
\n
standards, as approved by the European Union and applicable on the balance sheet
\n
date.
\n
All amounts are stated in thousands of euros.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag464": { "value": "\n
Note 1b. Judgement and use of estimates
\n
The preparation of financial statements requires the use of estimates and assumptions to
\n
determine the value of assets and liabilities, and to assess the positive and negative
\n
consequences of unforeseen situations and events at the balance sheet date, as well as
\n
revenues and expenses of the financial year.
\n
Significant estimates made by the group in the preparation of the financial statements
\n
relate mainly to the valuation of the recoverable amount of property, plant and
\n
equipment, and intangible assets (see Notes 5.1 and 5.2), the valuation of rights of use
\n
and lease obligations under leases (see Notes 5.3 and 5.11), the valuation of any
\n
provisions and assets/liabilities (see Notes 5.13 and 7) and in particular the provisions for
\n
litigation and pension and related liabilities (see Note 5.14).
\n
Due to the uncertainties inherent in all valuation processes, the group revises its estimates
\n
on the basis of regularly updated information. Future results may differ from these
\n
estimates.
\n
Other than the use of estimates, group management also uses judgement in defining the
\n
accounting treatment for certain operations and transactions not addressed under the
\n
IFRS standards and interpretations currently in force.
\n
Therefore, in the balance sheet, the group records the regulatory liabilities corresponding
\n
to the excess of regulated revenue received according to the real costs to be covered
\n
by the authorized regulated tariffs. This difference is transferred from the income
\n
statement to the balance sheet in the regulatory liabilities (non-current and current - See
\n
Note 5.12). Where required, the regulatory assets are accounted for in the balance sheet
\n
on the line for \u2018regulatory assets\u2019 when the regulated revenue received is lower than the
\n
real costs to be covered by the authorised regulated tariffs.
\n
These latter are recognised in as much as the group considers their recovery highly likely.
\n
This accounting method (see Note 2.12) has been determined by the group, as no
\n
definitive guidance on \u2018rate-regulated activities\u2019 has been published to date.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag465": { "value": "\n
Note 1c. Date of authorisation for issue
\n
The Board of Directors of Fluxys Belgium SA authorised these IFRS financial statements for
\n
issue on 27 March 2025.
\n

\n\n\n\n
Note 2.2. Balance sheet date
\n
The consolidated financial statements are prepared as of 31 December, i.e. the parent
\n
entity\u2019s balance sheet date.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag466": { "value": "SA", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag467": { "value": "\n

\n\n
Note 1d. Standards, amendments and interpretations applicable on 1 January
\n
2024
\n
The following standards and interpretations are applicable for the annual period starting
\n
from 1 January 2024:
\n
\u2022 Amendments to IAS 1 Presentation of Financial Statements - Classifying liabilities as
\n
current or non-current
\n
\u2022 Amendments to IAS 7 \u2013 Statement of cash flows and IFRS 7 Financial instruments:
\n
disclosures \u2013 Supplier finance arrangements
\n
\u2022 Amendments to IFRS 16 \u2013 Leases: Lease liability in a sale and leaseback
\n
As of the financial year starting on 1 January 2024, Publigas, including its participation
\n
in Fluxys SA and its Belgian and foreign subsidiaries, are subject to the so-called Pillar
\n
Two law \u201cWet houdende de invoering van een minimumbelasting voor
\n
multinationale ondernemingen en omvangrijke binnenlandse groepen\u201d of 19
\n
December 2023. The law generally follows Council Directive (EU) 2022/2523 of 14
\n
December 2022.
\n
The law aims to ensure a global minimum level of taxation for Belgian multinational
\n
enterprise groups and large-scale Belgian groups. The law includes a set of rules that
\n
should result in the application of a minimum effective tax rate of 15% for Publigas
\n
group, being a multinational enterprise group with a consolidated revenue
\n
exceeding EUR 750 million for at least two of the four previous financial years.
\n
The Publigas group aims to correctly comply with this new legislation, both in Belgium
\n
and in the other countries in which the group is present. The group\u2019s focus is on the
\n
application of the \u2018Transitional CbCR Safe Harbour\u2019 rules. Based on an analysis of
\n
historical data, the Publigas group expects to be able to apply these rules in most of
\n
the jurisdictions in which it operates. For Pillar Two GloBE Model Rules purposes,
\n
Publigas SC/CV (Belgian legal entity) has been identified as the UPE of the entire
\n
group and Fluxys Belgium is a Constituent Entity (and in particular a Partially Owned
\n
Parent Entity) of the UPE.
\n
Fluxys Belgium has applied the exception to recognising and disclosing information
\n
about deferred tax assets and liabilities related to Pillar two income taxes. It is
\n
reasonable to expect Publigas group is able to rely on Transitional CbCR Safe
\n
Harbour rules for all jurisdictions in which Fluxys Belgium is operating and hence no
\n
Top-up-Tax exposure is expected at the level of Fluxys Belgium.
\n
\n
The application of these amendments didn\u2019t have a significant impact on the
\n
financial statements of the group.
\n
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag468": { "value": "\n
Note 1d. Standards, amendments and interpretations applicable on 1 January
\n
2024
\n
The following standards and interpretations are applicable for the annual period starting
\n
from 1 January 2024:
\n
\u2022 Amendments to IAS 1 Presentation of Financial Statements - Classifying liabilities as
\n
current or non-current
\n
\u2022 Amendments to IAS 7 \u2013 Statement of cash flows and IFRS 7 Financial instruments:
\n
disclosures \u2013 Supplier finance arrangements
\n
\u2022 Amendments to IFRS 16 \u2013 Leases: Lease liability in a sale and leaseback
\n
As of the financial year starting on 1 January 2024, Publigas, including its participation
\n
in Fluxys SA and its Belgian and foreign subsidiaries, are subject to the so-called Pillar
\n
Two law \u201cWet houdende de invoering van een minimumbelasting voor
\n
multinationale ondernemingen en omvangrijke binnenlandse groepen\u201d of 19
\n
December 2023. The law generally follows Council Directive (EU) 2022/2523 of 14
\n
December 2022.
\n
The law aims to ensure a global minimum level of taxation for Belgian multinational
\n
enterprise groups and large-scale Belgian groups. The law includes a set of rules that
\n
should result in the application of a minimum effective tax rate of 15% for Publigas
\n
group, being a multinational enterprise group with a consolidated revenue
\n
exceeding EUR 750 million for at least two of the four previous financial years.
\n
The Publigas group aims to correctly comply with this new legislation, both in Belgium
\n
and in the other countries in which the group is present. The group\u2019s focus is on the
\n
application of the \u2018Transitional CbCR Safe Harbour\u2019 rules. Based on an analysis of
\n
historical data, the Publigas group expects to be able to apply these rules in most of
\n
the jurisdictions in which it operates. For Pillar Two GloBE Model Rules purposes,
\n
Publigas SC/CV (Belgian legal entity) has been identified as the UPE of the entire
\n
group and Fluxys Belgium is a Constituent Entity (and in particular a Partially Owned
\n
Parent Entity) of the UPE.
\n
Fluxys Belgium has applied the exception to recognising and disclosing information
\n
about deferred tax assets and liabilities related to Pillar two income taxes. It is
\n
reasonable to expect Publigas group is able to rely on Transitional CbCR Safe
\n
Harbour rules for all jurisdictions in which Fluxys Belgium is operating and hence no
\n
Top-up-Tax exposure is expected at the level of Fluxys Belgium.
\n
\n
The application of these amendments didn\u2019t have a significant impact on the
\n
financial statements of the group.
\n
\n

\n\n\n\n
Note 1e. Standards, amendments and interpretations applicable from 1 January
\n
2025 and later
\n
At the date of authorization of these financial statements, the standards and
\n
interpretations listed below have been issued but are not yet mandatory:
\n
\u2022 Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: lack of
\n
exchangeability, date of entry into force: 1 January 2025
\n
\u2022 Amendments to IFRS 9 Classification and Measurement Requirements and IFRS 7
\n
Disclosures, date of entry into force: 1 January 2026
\n
\u2022 Amendments to IFRS 9 and IFRS 7 - Nature-Dependent Electricity Contracts, date
\n
of entry into force: 1 January 2026
\n
\u2022 Annual improvements Volume 11
\n
\u2022 IFRS 18 - Presentation and Disclosure in Financial Statements, date of entry into
\n
force: 1 January 2027
\n
\u2022 IFRS 19 Subsidiaries without Public Accountability: Disclosures, date of entry into
\n
force: 1 January 2027
\n
These standards, amendments and interpretations have not been adopted early. The
\n
application of these standards, amendments and interpretations will have no significant
\n
impact on the financial statements of the group.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag469": { "value": "\n

\n\n
Note 1e. Standards, amendments and interpretations applicable from 1 January
\n
2025 and later
\n
At the date of authorization of these financial statements, the standards and
\n
interpretations listed below have been issued but are not yet mandatory:
\n
\u2022 Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: lack of
\n
exchangeability, date of entry into force: 1 January 2025
\n
\u2022 Amendments to IFRS 9 Classification and Measurement Requirements and IFRS 7
\n
Disclosures, date of entry into force: 1 January 2026
\n
\u2022 Amendments to IFRS 9 and IFRS 7 - Nature-Dependent Electricity Contracts, date
\n
of entry into force: 1 January 2026
\n
\u2022 Annual improvements Volume 11
\n
\u2022 IFRS 18 - Presentation and Disclosure in Financial Statements, date of entry into
\n
force: 1 January 2027
\n
\u2022 IFRS 19 Subsidiaries without Public Accountability: Disclosures, date of entry into
\n
force: 1 January 2027
\n
These standards, amendments and interpretations have not been adopted early. The
\n
application of these standards, amendments and interpretations will have no significant
\n
impact on the financial statements of the group.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag471": { "value": "\n

\n

\n
Note 2. Accounting principles and policies
\n
The accounting principles and policies set out below were approved at the Fluxys
\n
Belgium Board of Directors meeting of 27 March 2025.
\n
Changes or additions compared with the previous financial year are underlined.
\n\n

\n\n
Note 2.1. General principles
\n
The financial statements fairly present Fluxys Belgium group\u2019s financial position, results of
\n
operations and cash flows.
\n
The group\u2019s financial statements have been prepared on the accrual basis of
\n
accounting, except for the cash flow statement.
\n
Assets and liabilities have not been offset against each other, except when required or
\n
allowed by an international accounting standard.
\n
Current and non-current assets and liabilities have been presented separately in the
\n
balance sheet of the Fluxys Belgium group.
\n
The accounting policies have been applied in a consistent manner.
\n

\n\n\n\n

\n\n\n\n\n
Note 2.2. Balance sheet date
\n
The consolidated financial statements are prepared as of 31 December, i.e. the parent
\n
entity\u2019s balance sheet date.
\n

\n\n\n\n
\n

\n\n\n\n
\n

\n

\n\n
Note 2.3. Events after the balance sheet date
\n
The book value of assets and liabilities at the balance sheet date is adjusted when events
\n
after the balance sheet date provide evidence of conditions that existed at the balance
\n
sheet date.
\n
Adjustments can be made until the date of authorisation for issue of the financial
\n
statements by the Board of Directors.
\n
Other events relating to circumstances arising after balance sheet date are disclosed in
\n
the notes to the consolidated financial statements, if significant.
\n
\n\n\n

\n

\n
Note 2.4. Basis of consolidation
\n
The Fluxys Belgium group's consolidated financial statements have been prepared in
\n
accordance with IFRS and in particular with IFRS 3 (Business Combinations), IFRS 10
\n
(Consolidated Financial Statements), IFRS 11 (Joint Arrangements) and IAS 28
\n
(Investments in Associates and Joint Ventures).
\n\n
Subsidiaries
\n
The Fluxys group\u2019s consolidated financial statements include the financial statements of
\n
the parent entity and the financial statements of the entities it controls and its subsidiaries.
\n
The investor controls an investee when he is exposed\u2014or has rights\u2014to variable returns
\n
from its involvement with the investee and has the ability to affect those returns through
\n
its power over the investee.
\n

\n\n\n\n\n

\n\n
Investments in joint ventures
\n
A joint venture is a joint arrangement in which the parties exercising joint control over the
\n
undertaking have rights to the net assets of the undertaking. Joint control means
\n
contractually agreed sharing of the control exercised over an undertaking, which only
\n
exists in the cases where the decisions on the relevant activities require the unanimous
\n
consent of the parties sharing the control.
\n
The results and assets and liabilities of associates or joint ventures are accounted for in the
\n
present consolidated financial statements in accordance with the equity method, unless
\n
the investment, or a part thereof, is classified as an asset held for sale in accordance with
\n
IFRS 5.
\n
An investment in an associate or joint venture is initially accounted for at cost. It then
\n
integrates the share of the group in the net results and the other elements of the
\n
comprehensive result of the undertaking accounted for under the equity method. Finally,
\n
dividends distributed by this entity decrease the value of the investment.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n\n

\n\n
Note 2.5. Intangible assets
\n
An intangible asset is recognised as an asset if it is probable that future economic
\n
benefits attributable to the asset will flow to the entity and if the cost of the asset can be
\n
measured reliably.
\n
Intangible assets are recognised at cost in the balance sheet (cost method), less any
\n
accumulated depreciation and any accumulated impairment losses.
\n
Intangible assets with a limited useful life are depreciated over their useful life.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n

\n

\n
Computer software is depreciated at 20% per annum.
\n
Subsequent expenditure is capitalised if it generates economic benefits exceeding the
\n
initial standard of performance.
\n\n

\n\n
Intangible assets are reviewed at each balance sheet date to identify indications of
\n
potential impairment that may have arisen during the financial year. In case such
\n
indications are noted, an estimate of the recoverable amount of the related intangible
\n
assets is made. The recoverable amount is defined as the higher of the fair value less
\n
costs to sell of an asset and its value in use.
\n
The value in use is calculated by discounting future cash inflows and outflows generated
\n
by the continuous use of the asset and its final disposal at an appropriate discount rate.
\n
Intangible assets are impaired when their book value exceeds the amount that can be
\n
recovered, as a result of obsolescence of these assets or due to economic or
\n
technological circumstances.
\n
The useful life, the depreciation method, as well as the potential residual value of
\n
intangible assets are reassessed at each balance sheet date and revised prospectively, if
\n
applicable.
\n

\n\n\n\n

\n\n\n\n
\n\n
Emission rights for greenhouse gases
\n
Emission rights for greenhouse gases acquired at fair value are recognised as intangible
\n
assets at their acquisition cost. Rights granted free of charge are recognised as intangible
\n
assets at a nil book value.
\n
The cost associated with emission of greenhouse gases in the atmosphere is recognised
\n
as an operating expense, the counterpart being a liability for the obligation to deliver
\n
allowances covering the effective emission over the period concerned (other debts). This
\n
expense is measured by reference to the weighted average cost of the acquired or
\n
granted allowances.
\n
This liability is derecognised on the delivery of allowances to the government by
\n
withdrawing emission rights from intangible assets.
\n
In case the allowances are insufficient to cover the emission of greenhouse gases during
\n
the financial year, the group accounts for a provision. This provision is measured by
\n
reference to the market value at the balance sheet date of the allowances yet to be
\n
purchased.
\n
The excess emission rights not sold on the market are valued at the balance sheet date
\n
by reference to the weighted average cost of the acquired or granted allowances, or at
\n
market value if lower than the weighted average cost.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n
Note 2.6. Property, plant and equipment
\n
Property, plant and equipment (PPE) is recognised as an asset if it is probable that future
\n
economic benefits attributable to the asset will flow to the entity and if the cost of the
\n
asset can be measured reliably.
\n
PPE is recognised at cost in the balance sheet (cost method), less any accumulated
\n
depreciation and any accumulated impairment losses.
\n
Subsequent expenditure is capitalised if it generates economic benefits exceeding the
\n
initial standard of performance.
\n\n

\n\n
PPE is reviewed at each balance sheet date to identify indications of potential
\n
impairment that may have arisen during the financial year. In case such indications are
\n
noted, an estimate of the recoverable amount of the PPE in question is established. The
\n
recoverable amount is defined as the higher of the fair value less costs to sell of an asset
\n
and its value in use. The value in use is calculated by discounting future cash inflows and
\n
outflows generated by the continuous use of the asset and its final disposal at an
\n
appropriate discount rate.
\n

\n\n\n\n

\n\n\n\n
Climate-related matters have been assessed and it has been determined that there is no
\n
impact on the useful life of assets. This assessment is in line with the regulatory framework
\n
determined by CREG. CREG has the authority to develop the methodology for
\n
transmission, storage and LNG terminalling tariffs, having conducted a public consultation
\n
for this purpose. This methodology states that the pipelines and installations should be fully
\n
depreciated by December 2049 at the latest, rule applied by the Fluxys Belgium group.
\n
\n
\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n
Depreciation methods
\n
PPE is depreciated over its useful life.
\n
Each significant component of PPE is recognised separately and depreciated over its
\n
useful life.
\n
The depreciation method reflects the rate at which the group expects to consume the
\n
future economic benefits related to the asset, taking into account the time during which
\n
the assets may generate regulated revenue.
\n
The regulated investments intended to increase the security of supply in Europe are
\n
depreciated under a diminishing balance method, which more accurately reflects the
\n
rate at which the group expects to consume the future economic benefits of these
\n
assets. This is a specific list of regulated infrastructure investments, which are essential for
\n
gas transmission in Europe and form an integral part of the RAB.
\n
The methods and durations of depreciation used are as follows:
\n
Straight-line method:
\n
\u2022 50 years for transmission pipelines in Belgium, terminalling facilities and tanks;
\n
In line with the new tariff method applied since 01.01.2020, all investments (new and
\n
existing) in gas transmission pipelines are fully depreciated by December 2049 at the
\n
latest.
\n
In accordance with the new pricing methodology that has been applied since
\n
01.01.2024, all new investments in facilities will be fully amortised by December 2049
\n
at the latest.
\n
\u2022 50 years for administrative buildings, staff housing and facilities;
\n
\u2022 40 years for storage facilities;
\n
\u2022 33 years for industrial buildings;
\n
\u2022 20 years for investments related to the extensions of the Zeebrugge LNG terminal;
\n
\u2022 10 years for equipment and furniture;
\n
\u2022 5 years for vehicles and site machinery;
\n
\u2022 4 years for computer hardware;
\n
\u2022 3 years for prototypes;
\n
\n
Declining-balance method:
\n
\u2022 This method only applies for investments made to ensure security of supply: declining-
\n
balance.
\n
The useful life, the depreciation method, as well as the potential residual value of
\n
property, plant and equipment are reassessed at each balance sheet date and revised
\n
prospectively, if applicable.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n
Note 2.7. Leases
\n
Definition of \u2018lease\u2019
\n
A contract is or contains a lease if it conveys a right to control the use of an identified
\n
asset for a period of time in exchange for a consideration.
\n
To determine whether a lease confers the right to control use of a determined asset for a
\n
determined period of time, the entity must appreciate whether, throughout the period of
\n
use, it has the right to:
\n
\u2022 obtain substantially all of the economic benefits from the use of the asset; and
\n
\u2022 direct the use of the asset.
\n
To determine the duration of the lease, any options for renewal or termination are
\n
considered, as required under IFRS 16, taking into account the probability of exercising
\n
the option as well as whether it is under the control of the lessee.
\n
\n
\n
The group as a lessee
\n
At the start of the lease, the lessee recognises a right-of-use asset and a lease obligation.
\n\n
Right-of-use assets
\n
The group recognises right-of-use assets on the date of the start of the contract, i.e. the
\n
date on which the asset becomes available for use. These assets are valued at the initial
\n
cost of the lease obligation minus amortisation and any depreciation, adjusted to take
\n
into account any revaluations of the lease obligation. The initial cost of the right-of-use
\n
assets includes the present value of the lease obligation, the initial costs incurred by the
\n
lessee, rent payments made on the start date or before that date, minus any incentives
\n
obtained by the lessee. These assets are depreciated over the estimated lifetime of the
\n
underlying asset or over the duration of the contract if this period is shorter, unless the
\n
group is sufficiently certain of obtaining ownership of the asset at the end of the contract.
\n
Right-of-use assets are presented separately from other assets as a different entry under
\n
non-current assets.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n
Lease obligations
\n
The lease obligation is valued at the present value of the rent payments that have not yet
\n
been paid. The present value of the rent payments must be calculated using the interest
\n
rate implicit in the lease if it is possible to determine that rate. If not, the lessee must use its
\n
incremental borrowing rate.
\n
The incremental borrowing rate is the interest rate that the lessee would have to pay to
\n
borrow over a similar term, and with a similar security, the funds necessary to obtain an
\n
asset of similar value to the right-of-use asset in a similar economic environment.
\n
\n
\n
Over the duration of the contract, the lessee values the lease obligation as follows:
\n
\u2022 by increasing the book value to reflect the interest on the lease obligation;
\n
\u2022 by reducing the book value to reflect the rent payments made;
\n
\u2022 by revaluing the book value to reflect the new appreciation of the lease obligation
\n
or amendments to the lease.
\n
The services included in leases do not form part of the lease debt.
\n
Lease obligations are presented in a separate entry under current and non-current
\n
interest-bearing liabilities (see note 5.11).
\n
Short-term leases and low-value leases
\n
For short-term leases (duration of 12 months or less), the Fluxys Belgium group registers a
\n
lease expense.
\n
To determine the criteria for a low-value lease, a threshold has been determined, except
\n
for vehicles, which are included in the group of vehicles leased for more than one year
\n
without applying the value criteria.
\n
For short-term leases, and low-value leases, the effect on profit/loss is not significant.
\n
\n
Presentation
\n
In the consolidated income statement, the interest charge on the lease obligation is
\n
presented separately from the depreciation charge that applies to the right-of-use asset.
\n
In the cash flow statement, the cash flows will be presented as follows:
\n
\u2022 cash outflows relating to the principal of the lease obligation and the interest paid, in
\n
the financing activities;
\n
\u2022 rent payments for short-term leases, low-value leases and variable rent payments that
\n
have not been taken into account in the valuation of the lease obligations, in the
\n
operating activities.
\n

\n\n\n\n

\n\n\n\n

\n\n

\n

\n
Note 2.8. Financial instruments
\n
Recognition and derecognition of financial assets and liabilities
\n\n

\n

\n\n
Recognition
\n
Financial assets and liabilities are recognised when the group becomes party to the
\n
instrument\u2019s contractual terms.
\n

\n\n\n\n\n
Derecognition of financial assets
\n
The group has to derecognise a financial asset if and only if the contractual rights on the
\n
cash flows of the financial asset expire, or where it transfers almost all the risks and
\n
advantages inherent to the ownership of the financial asset to a third party.
\n
If the group neither transfers nor retains substantially all the risks and rewards of ownership
\n
of a transferred asset, and retains control of the transferred asset, the group continues to
\n
recognise the financial asset to the extent of its continuing involvement and recognises a
\n
related liability for the amount received.
\n
If the group keeps almost all the risks and advantages inherent to the ownership of the
\n
financial asset, it continues to recognise the whole financial asset and recognises a
\n
financial liability for the consideration received.
\n
When a financial asset measured at amortised cost is derecognised, the difference
\n
between the amortised cost and the sum of the considerations received is transferred to
\n
the income statement.
\n
When an investment in equity instruments until now measured at fair value with changes
\n
to other comprehensive income are derecognised, the accumulated profit/loss
\n
recognised previously in other comprehensive income is not reclassified to net income.
\n

\n\n\n\n

\n\n\n\n\n

\n\n
Derecognition of financial liabilities
\n
The entity derecognises a financial liability only if this liability is extinguished, i.e. once the
\n
obligation is fulfilled, cancelled or it expires.
\n
The difference between the book value of an extinguished financial liability and the
\n
consideration paid, including, where applicable, the assets (non-cash) transferred and
\n
the liabilities acquired must be recognised in the income statement.
\n

\n\n\n\n
Unconsolidated equity instruments (such as shares and equity rights)
\n
The Fluxys Belgium group values the unconsolidated equity instruments at fair value with
\n
changes to other comprehensive income.
\n
However, given the materiality of certain instruments and the unavailability of recent
\n
market values, certain equity instruments are accounted for at the initial cost.
\n
The dividends received for these equity instruments are recognised in financial income
\n
under the item \u2018Dividends from unconsolidated entities\u2019.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n\n

\n\n

\n

\n

\n

\n
Cash investments, cash and cash equivalents
\n\n
Cash investments in the form of bonds or commercial paper, having a maturity date
\n
exceeding three months, are reported as financial assets measured at amortised cost.
\n
These are shown in the balance sheet under non-current \u2018other financial assets\u2019 and
\n
under current \u2018investments\u2019.
\n
Cash and cash equivalents held are reported as financial assets measured at amortised
\n
cost.
\n

\n\n\n\n
The economic model used by the Fluxys Belgium group to manage financial assets aims
\n
to hold them in order to obtain contractual cash flows. The sales of financial assets are
\n
rare, and the group does not expect to proceed with such sales in the future, except in
\n
the case of an increased credit risk for the assets over and above the policy advocated
\n
by the group. A sale may also be motivated by an unexpected financing need.
\n
Where the conditions required to be qualified as financial assets valued at amortised cost
\n
are not met, these financial assets concerned are valued at fair value with changes to
\n
net profit/loss.
\n\n
Trade and other receivables
\n
Trade and other receivables are stated at their face value reduced by any amounts
\n
deemed unrecoverable.
\n
When the time value of money is significant, trade and other receivables are discounted.
\n
Impairment losses are recognised when the book value of these items at balance sheet
\n
date exceeds their recoverable amount.
\n

\n\n\n\n\n

\n\n
Expected credit losses and write-downs
\n
Expected credit losses on financial assets accounted for at amortised cost are calculated
\n
using an individual approach, based on the credit quality of the counterparty and the
\n
maturity of the financial asset.
\n
Expected credit losses are calculated using a probability of default over the useful life of
\n
the financial asset.
\n
A financial asset is impaired where one or more events have occurred with a negative
\n
effect on the future estimated cash flows of this financial asset. The indications of the
\n
impairment of a financial asset encompass data that may be observed on the following
\n
events:
\n
\u2022 defaults in payments for more than 90 days,
\n
\u2022 significant financial difficulty of the issuer or debtor and
\n
\u2022 increasing probability of bankruptcy or financial restructuring of the lender.
\n
If the economic forecast (for example gross domestic product) deteriorates over the
\n
course of next year, which could lead to an increase in the number of defaults, the
\n
historical default rates are adjusted. At each balance sheet date, the historical default
\n
rates observed are updated and the changes in the forecast estimates are analysed.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n

\n

\n\n\n

\n

\n

\n\n
Interest-bearing liabilities
\n
Interest-bearing liabilities are recognised at the net amount received. Following initial
\n
recognition, interest-bearing liabilities are recorded at amortised cost. The difference
\n
between the amortised cost and the redemption value is recognised in the income
\n
statement under the effective interest rate method over the term of the liabilities.
\n

\n\n\n\n\n
Trade payables
\n
Trade payables are stated at face value.
\n
When the time value of money is significant, trade payables are discounted.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n\n
Note 2.9. Inventories
\n
Valuation
\n
Inventories are valued at the lower of cost and net realisable value.
\n
Inventories are written down to account for:
\n
\u2022 a reduction in net realisable value, or
\n
\u2022 impairment losses due to unforeseen circumstances related to the nature or use of
\n
the assets.
\n
This impairment on inventories is recognised in the income statement in the period in
\n
which they arise.
\n
Gas inventory
\n
Gas inventory changes are valued under the weighted average cost method.
\n
Supplies and consumables
\n
Supplies and consumables are valued under the weighted average cost method.
\n
Work in progress
\n
Work in progress for third parties is valued at cost, including indirectly attributable costs.
\n
When the outcome of a contract can be reliably estimated, contract revenue and
\n
expenses are recognised as revenue and expenses respectively by reference to the
\n
stage of completion of the contract at balance sheet date. Any expected loss is
\n
recognised immediately as an expense in the income statement.
\n

\n\n\n\n
\n

\n\n\n\n

\n

\n

\n\n

\n\n
Note 2.10. Borrowing costs
\n
Borrowing costs directly attributable to the acquisition, building or production of assets
\n
requiring a substantial period of time to get ready for their intended use (property, plant
\n
and equipment, investment property, etc.) are added to the costs of the assets
\n
concerned until they are ready for use or sale.
\n
The amount of the borrowing costs to be capitalised is the actual cost incurred in
\n
borrowing the funds, as reduced by income from any temporary investment of these
\n
funds.
\n

\n\n\n\n

\n\n\n\n\n
Note 2.11. Provisions
\n
Provisions are recognised as a liability in the balance sheet when they meet the following
\n
criteria:
\n
\u2022 the group has a present (legal or constructive) obligation arising from a past event;
\n
\u2022 it is probable (i.e. more likely than not) that the settlement of this obligation will lead
\n
to an outflow of resources embodying economic benefits;
\n
\u2022 the amount of the obligation can be reliably estimated.
\n
No provision is recognised if the above conditions are not met.
\n
The amount recognised as a provision is the best estimate of the expenditure required to
\n
settle the present obligation at the balance sheet date, in other words the amount the
\n
entity reasonably expects to have to pay to discharge the obligation at balance sheet
\n
date, or to transfer it to a third party at the same date.
\n

\n\n\n\n
\n\n
Employee benefits
\n
Some companies in the Fluxys group have established supplementary \u2018defined benefit\u2019 or
\n
\u2018defined contribution\u2019 pension plans. Benefits provided under these plans are based on
\n
the number of years of service and the employee\u2019s salary.
\n
\u2018Defined benefit\u2019 pension plans enable employees to benefit from a capital sum
\n
calculated on the basis of a formula which takes account of their annual salary at the
\n
end of their career and their seniority when they retire.
\n
\u2018Defined contribution\u2019 pension plans provide employees with a capital sum accumulated
\n
from personal and employer contributions, based on the salary.
\n
In Belgium, the law requires that the employer guarantee a minimum return for defined
\n
contribution, which varies based on the market rates.
\n
The accounting method used by the group to value these \u2018defined contribution pension
\n
plans, with a guaranteed minimum return\u2019, is identical to the method used for \u2018defined
\n
benefit\u2019 plans.
\n
In case of death before retirement, these plans provide a capital sum for the surviving
\n
spouse, as well as allowances for orphans.
\n

\n\n\n\n

\n\n\n\n

\n\n
Other employee benefits
\n
Certain group companies offer their employees post-employment benefits such as the
\n
reimbursement of medical costs and price subsidies, and other long-term benefits
\n
(seniority bonuses).
\n
Valuation
\n
These liabilities are valued annually by a qualified actuary.
\n
Regular payments made in relation to the supplementary pension plans are recognised
\n
as expenses at the time they are incurred.
\n
\u2018Defined benefit\u2019 pension plans
\n
Provisions for pensions and other collective agreements are reported in the balance
\n
sheet in accordance with IAS 19 (Employee Benefits), using the projected unit credit
\n
method (PUCM).
\n
The current value of post-employment benefits is determined at each balance sheet
\n
date based on the projected salary estimated at the end of the employee\u2019s career, the
\n
rate of inflation, life expectancy, staff turnover and the expected age of retirement. The
\n
present value of defined benefit obligations is determined using a discount rate based on
\n
high-quality bonds with maturity dates close to the weighted average maturity of the
\n
plans concerned and which are denominated in the currency in which the benefits are
\n
to be paid.
\n
The amount accounted for in respect of post-employment liabilities corresponds to the
\n
difference between the current value of future obligations and the fair value of assets in
\n
the plan destined to cover them. Any deficit resulting from this valuation is subject to the
\n
recognition of a provision to cover this risk.
\n
\n
In the opposite case, an asset is recognised in line with the surplus of the defined benefit
\n
pension plan, capped at the current value of any future reimbursement from the plan or
\n
any reduction in future contributions to the plan.
\n
\n
The remeasurements of the liabilities or assets in the balance sheet comprise:
\n
\u2022 the actuarial gains or losses on the defined benefit liabilities resulting from
\n
adjustments relating to experience and/or changes in actuarial assumptions
\n
(including the effect of the change in the discount rate);
\n
\u2022 the return on plan assets (excluding amounts included in net interest) and changes in
\n
the effect of the asset ceiling (excluding amounts included in net interest).
\n
These remeasurements are directly recognised in equity through the other items in
\n
comprehensive income.
\n
\u2018Defined contribution\u2019 pension plans
\n
The liabilities of the group with regard to \u2018defined contribution\u2019 plans are limited to the
\n
employer contributions paid recorded in the results.
\n

\n\n\n\n

\n\n\n\n

\n

\n\n
Actuarial gains and losses relating to other long-term employee benefits
\n
The other long-term benefits are accounted for in the same way as the post-employment
\n
benefits, but revaluations are fully accounted for in the financial results in the financial
\n
year in which they occur.
\n

\n\n\n\n\n\n\n\n
Note 2.12. Revenue recognition
\n
The group accounts for operating revenue as it meets a service obligation by supplying
\n
the customer with the promised good or service and as this latter obtains control thereof.
\n
The Fluxys Belgium group uses a five-stage approach to determine whether a contract
\n
entered into with a customer may be accounted for and the way in which revenue
\n
should be recognised:
\n
1. identification of the contract,
\n
2. identification of the service obligations,
\n
3. determination of the transaction price,
\n
4. distribution of the transaction price between the service obligations and
\n
5. recognition of operating revenue where the service obligations are met or where the
\n
control of the goods or services is transferred to the customer.
\n
Group revenues mainly come from standard regulated contracts for which both the
\n
services to be provided and the price of the service are clearly identified.
\n
Fluxys Belgium and its subsidiaries transfer the control of their regulated services
\n
progressively and in doing so meet their service obligation and account for operating
\n
revenue progressively. It should be noted that the revenue from regulated activity is
\n
recognised based on reserved capacities.
\n
Furthermore, the Fluxys Belgium group makes sales of gas that are necessary for
\n
balancing operations and its operational needs. These services, fulfilled at a specific time,
\n
are recognised in operating revenue at the time of their fulfilment. From 1 June 2020,
\n
these balancing operations are conducted by the joint venture with Balansys. The
\n
technical balancing, which is intended to be residual, remains with Fluxys Belgium.
\n
Regulated income received by the group may generate a gain or a loss compared with
\n
the target rate of return on the capital invested. Gains are reported and recognised as
\n
regulatory liabilities, whereas losses are included in operating revenue to offset the
\n
accounting of regulatory assets. The Group has no regulatory assets in the published
\n
periods.
\n
The regulatory framework is explained in further detail in the chapter on \u2018Regulatory and
\n
legal framework\u2019 of the annual report.
\n
In note 4 - Segment income statement, the distinction is shown between the revenue
\n
invoiced and the revenue recognised. The latter includes the revenue invoiced, but also
\n
the movements in regulatory assets and liabilities.
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n
The following table provides more detailed information on the Group\u2019s services
\n
(performance obligations), types of contracts, pricing, and the way in which operating
\n
revenue is recognised. Most of this revenue is regulated.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Legal Revenue Performance obligation: nature, customer Contract type and
entitystreamand timing of satisfaction pricing
Fluxys Transmission Nature of performance obligation: sale ofRegulated Standard
Belgiumservicescapacity and related services in the Transmission
pipeline infrastructure to its customers to Agreement.
transmit natural gas to distribution system
operators, power stations and major Regulated tariffs are
industrial end-users in Belgium or to transport expressed in
natural gas to a border point for transmission \u20ac/kWh/h/year
to other end-user markets in Europe.
Customers: gas shippers reserve capacity
slots (short + long term contracts)
Revenue recognition: the performance
obligation consists in making these
capacities available for the customers for
use at the customers\u2019 discretion (cf. IFRS
15.26 (e)).
Basically, the contracts between Fluxys
Belgium and their customers determine that
the latter reserve a certain capacity that
can be used over a certain period, at the
choice of the customer.
Thus, Fluxys Belgium will transfer to the
customer a series of services that are
substantially the same and that have the
same pattern of transfer to the customer
(IFRS 15.22 (b)).
Each service in the series provided by Fluxys
Belgium is a performance obligation
satisfied over time, as described by IFRS
15.35a (the customer simultaneously
receives and consumes the benefits
provided by Fluxys\u2019 performance as Fluxys
performs).
Therefore, the reserved capacities are
invoiced and recognised monthly over the
period covered by the contract related to
the capacities reserved (in accordance
with IFRS 15.39 and IFRS 15.B15), i.e. over
time recognition.
Fluxys Storage Nature of performance obligation: storage Regulated Standard
Belgiumcapacity services enabling customers to use bufferStorage Agreement
servicecapacity flexibly according to their needs. (in combination with a
The gas is stored in the underground regulated Standard
facilities in Loenhout, Belgium. Transmission
Agreement to enable
Most of the revenues are generated by the injecting into and
sale of standard bundled packages, withdrawing from the
composed of injection, storage and gas grid \u2013 see above).
withdrawing capacity throughout the Regulated tariffs for
storage season in fixed proportion. Such storage capacity are
\n\n\n\n\n
\n
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
contracts can be both long term and short expressed in \u20ac/stan-
term. dard bundled unit per
Customers: As for transmission, the revenues year. Tariffs for
are based on the reserved capacities.separately purchased
storage capacity are
Revenue recognition: revenue is recognisedexpressed in
over time as these services are performed \u20ac/GWh/year.
continuously throughout the contractual term.
Injection or
withdrawal capacity is
expressed in
\u20ac/m\u00b3(n)/h/year.
Fluxys Terminalling Standard regulated
LNGservicesNature of performance obligations:LNG Terminalling
Agreement, mostly
Unloading services (time slots are sold in combined with a
advance, the so-called \u2018berthing rights\u2019), separate standard
possibly combined with related servicesregulated LNG Service
such as storage, regasification or sending Agreement for
out (i.e. transform the liquid gas into gas that ancillary services such
can be injected in the grid).as storage and
Loading servicessending out capacity,
Transhipment services, that occur in 2 forms:etc.
Ship-To-Ship: unloading of LNG from one Tariffs for (un)loading
LNG ship directly to another.are expressed in
Ship-Storage-Ship: LNG is unloaded from an \u20ac/berthing right for the
LNG ship, then stored in a tank at the capacity reservations.
terminal. It can be loaded a few days later For storage and for
by another LNG ship.regasification and
Customers: Customers reserve berthing sending out services,
rights in advance, these can be both long tariffs are expressed in
term and short term contracts. \u20ac/MWh/day.
Revenue recognition: revenue of these
berthing rights is recognised over timeRegulated standard
based on the reserved capacity, LNG Transhipment
independently of whether the slots are used Service Agreement.
or not.Tariffs are expressed in
For some additional services, such as \u20ac/berthing right for the
storage, revenue is recognised over time as transhipment services.
well, in accordance with IFRS 15.35(a). For For additional storage
other additional services, such as services, the tariff is
regasification, revenue is recognised at a expressed in
point in time.\u20ac/MWh/day.
\n\n\n\n\n
\n
\n
\n
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n

\n
Note 2.13. Income taxes
\n
Current tax is determined in accordance with local tax regulations and calculated on the
\n
income of the parent entity, subsidiaries and joint operations.
\n\n
Deferred tax liabilities and assets reflect the future taxable and deductible temporary
\n
differences, respectively, between the book base and the tax base of assets and
\n
liabilities.
\n

\n\n\n\n\n\n\n
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag473": { "value": "\n
Note 2.1. General principles
\n
The financial statements fairly present Fluxys Belgium group\u2019s financial position, results of
\n
operations and cash flows.
\n
The group\u2019s financial statements have been prepared on the accrual basis of
\n
accounting, except for the cash flow statement.
\n
Assets and liabilities have not been offset against each other, except when required or
\n
allowed by an international accounting standard.
\n
Current and non-current assets and liabilities have been presented separately in the
\n
balance sheet of the Fluxys Belgium group.
\n
The accounting policies have been applied in a consistent manner.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag527": { "value": "\n
Note 2.3. Events after the balance sheet date
\n
The book value of assets and liabilities at the balance sheet date is adjusted when events
\n
after the balance sheet date provide evidence of conditions that existed at the balance
\n
sheet date.
\n
Adjustments can be made until the date of authorisation for issue of the financial
\n
statements by the Board of Directors.
\n
Other events relating to circumstances arising after balance sheet date are disclosed in
\n
the notes to the consolidated financial statements, if significant.
\n
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag476": { "value": "\n

\n

\n
Note 2.4. Basis of consolidation
\n
The Fluxys Belgium group's consolidated financial statements have been prepared in
\n
accordance with IFRS and in particular with IFRS 3 (Business Combinations), IFRS 10
\n
(Consolidated Financial Statements), IFRS 11 (Joint Arrangements) and IAS 28
\n
(Investments in Associates and Joint Ventures).
\n\n
Subsidiaries
\n
The Fluxys group\u2019s consolidated financial statements include the financial statements of
\n
the parent entity and the financial statements of the entities it controls and its subsidiaries.
\n
The investor controls an investee when he is exposed\u2014or has rights\u2014to variable returns
\n
from its involvement with the investee and has the ability to affect those returns through
\n
its power over the investee.
\n

\n\n\n\n\n

\n\n
Investments in joint ventures
\n
A joint venture is a joint arrangement in which the parties exercising joint control over the
\n
undertaking have rights to the net assets of the undertaking. Joint control means
\n
contractually agreed sharing of the control exercised over an undertaking, which only
\n
exists in the cases where the decisions on the relevant activities require the unanimous
\n
consent of the parties sharing the control.
\n
The results and assets and liabilities of associates or joint ventures are accounted for in the
\n
present consolidated financial statements in accordance with the equity method, unless
\n
the investment, or a part thereof, is classified as an asset held for sale in accordance with
\n
IFRS 5.
\n
An investment in an associate or joint venture is initially accounted for at cost. It then
\n
integrates the share of the group in the net results and the other elements of the
\n
comprehensive result of the undertaking accounted for under the equity method. Finally,
\n
dividends distributed by this entity decrease the value of the investment.
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag477": { "value": "\n
Subsidiaries
\n
The Fluxys group\u2019s consolidated financial statements include the financial statements of
\n
the parent entity and the financial statements of the entities it controls and its subsidiaries.
\n
The investor controls an investee when he is exposed\u2014or has rights\u2014to variable returns
\n
from its involvement with the investee and has the ability to affect those returns through
\n
its power over the investee.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag478": { "value": "\n

\n\n
Investments in joint ventures
\n
A joint venture is a joint arrangement in which the parties exercising joint control over the
\n
undertaking have rights to the net assets of the undertaking. Joint control means
\n
contractually agreed sharing of the control exercised over an undertaking, which only
\n
exists in the cases where the decisions on the relevant activities require the unanimous
\n
consent of the parties sharing the control.
\n
The results and assets and liabilities of associates or joint ventures are accounted for in the
\n
present consolidated financial statements in accordance with the equity method, unless
\n
the investment, or a part thereof, is classified as an asset held for sale in accordance with
\n
IFRS 5.
\n
An investment in an associate or joint venture is initially accounted for at cost. It then
\n
integrates the share of the group in the net results and the other elements of the
\n
comprehensive result of the undertaking accounted for under the equity method. Finally,
\n
dividends distributed by this entity decrease the value of the investment.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag479": { "value": "\n
Investments in joint ventures
\n
A joint venture is a joint arrangement in which the parties exercising joint control over the
\n
undertaking have rights to the net assets of the undertaking. Joint control means
\n
contractually agreed sharing of the control exercised over an undertaking, which only
\n
exists in the cases where the decisions on the relevant activities require the unanimous
\n
consent of the parties sharing the control.
\n
The results and assets and liabilities of associates or joint ventures are accounted for in the
\n
present consolidated financial statements in accordance with the equity method, unless
\n
the investment, or a part thereof, is classified as an asset held for sale in accordance with
\n
IFRS 5.
\n
An investment in an associate or joint venture is initially accounted for at cost. It then
\n
integrates the share of the group in the net results and the other elements of the
\n
comprehensive result of the undertaking accounted for under the equity method. Finally,
\n
dividends distributed by this entity decrease the value of the investment.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag480": { "value": "\n

\n\n
Note 2.5. Intangible assets
\n
An intangible asset is recognised as an asset if it is probable that future economic
\n
benefits attributable to the asset will flow to the entity and if the cost of the asset can be
\n
measured reliably.
\n
Intangible assets are recognised at cost in the balance sheet (cost method), less any
\n
accumulated depreciation and any accumulated impairment losses.
\n
Intangible assets with a limited useful life are depreciated over their useful life.
\n

\n\n\n\n

\n\n\n\n

\n\n

\n

\n
Computer software is depreciated at 20% per annum.
\n
Subsequent expenditure is capitalised if it generates economic benefits exceeding the
\n
initial standard of performance.
\n\n

\n\n
Intangible assets are reviewed at each balance sheet date to identify indications of
\n
potential impairment that may have arisen during the financial year. In case such
\n
indications are noted, an estimate of the recoverable amount of the related intangible
\n
assets is made. The recoverable amount is defined as the higher of the fair value less
\n
costs to sell of an asset and its value in use.
\n
The value in use is calculated by discounting future cash inflows and outflows generated
\n
by the continuous use of the asset and its final disposal at an appropriate discount rate.
\n
Intangible assets are impaired when their book value exceeds the amount that can be
\n
recovered, as a result of obsolescence of these assets or due to economic or
\n
technological circumstances.
\n
The useful life, the depreciation method, as well as the potential residual value of
\n
intangible assets are reassessed at each balance sheet date and revised prospectively, if
\n
applicable.
\n

\n\n\n\n

\n\n\n\n
\n\n
Emission rights for greenhouse gases
\n
Emission rights for greenhouse gases acquired at fair value are recognised as intangible
\n
assets at their acquisition cost. Rights granted free of charge are recognised as intangible
\n
assets at a nil book value.
\n
The cost associated with emission of greenhouse gases in the atmosphere is recognised
\n
as an operating expense, the counterpart being a liability for the obligation to deliver
\n
allowances covering the effective emission over the period concerned (other debts). This
\n
expense is measured by reference to the weighted average cost of the acquired or
\n
granted allowances.
\n
This liability is derecognised on the delivery of allowances to the government by
\n
withdrawing emission rights from intangible assets.
\n
In case the allowances are insufficient to cover the emission of greenhouse gases during
\n
the financial year, the group accounts for a provision. This provision is measured by
\n
reference to the market value at the balance sheet date of the allowances yet to be
\n
purchased.
\n
The excess emission rights not sold on the market are valued at the balance sheet date
\n
by reference to the weighted average cost of the acquired or granted allowances, or at
\n
market value if lower than the weighted average cost.
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag481": { "value": "\n
Note 2.5. Intangible assets
\n
An intangible asset is recognised as an asset if it is probable that future economic
\n
benefits attributable to the asset will flow to the entity and if the cost of the asset can be
\n
measured reliably.
\n
Intangible assets are recognised at cost in the balance sheet (cost method), less any
\n
accumulated depreciation and any accumulated impairment losses.
\n
Intangible assets with a limited useful life are depreciated over their useful life.
\n

\n\n\n\n

\n

\n
Computer software is depreciated at 20% per annum.
\n
Subsequent expenditure is capitalised if it generates economic benefits exceeding the
\n
initial standard of performance.
\n\n

\n\n
Intangible assets are reviewed at each balance sheet date to identify indications of
\n
potential impairment that may have arisen during the financial year. In case such
\n
indications are noted, an estimate of the recoverable amount of the related intangible
\n
assets is made. The recoverable amount is defined as the higher of the fair value less
\n
costs to sell of an asset and its value in use.
\n
The value in use is calculated by discounting future cash inflows and outflows generated
\n
by the continuous use of the asset and its final disposal at an appropriate discount rate.
\n
Intangible assets are impaired when their book value exceeds the amount that can be
\n
recovered, as a result of obsolescence of these assets or due to economic or
\n
technological circumstances.
\n
The useful life, the depreciation method, as well as the potential residual value of
\n
intangible assets are reassessed at each balance sheet date and revised prospectively, if
\n
applicable.
\n

\n\n\n\n

\n\n\n\n
\n\n
Emission rights for greenhouse gases
\n
Emission rights for greenhouse gases acquired at fair value are recognised as intangible
\n
assets at their acquisition cost. Rights granted free of charge are recognised as intangible
\n
assets at a nil book value.
\n
The cost associated with emission of greenhouse gases in the atmosphere is recognised
\n
as an operating expense, the counterpart being a liability for the obligation to deliver
\n
allowances covering the effective emission over the period concerned (other debts). This
\n
expense is measured by reference to the weighted average cost of the acquired or
\n
granted allowances.
\n
This liability is derecognised on the delivery of allowances to the government by
\n
withdrawing emission rights from intangible assets.
\n
In case the allowances are insufficient to cover the emission of greenhouse gases during
\n
the financial year, the group accounts for a provision. This provision is measured by
\n
reference to the market value at the balance sheet date of the allowances yet to be
\n
purchased.
\n
The excess emission rights not sold on the market are valued at the balance sheet date
\n
by reference to the weighted average cost of the acquired or granted allowances, or at
\n
market value if lower than the weighted average cost.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag485": { "value": "\n

\n\n
Intangible assets are reviewed at each balance sheet date to identify indications of
\n
potential impairment that may have arisen during the financial year. In case such
\n
indications are noted, an estimate of the recoverable amount of the related intangible
\n
assets is made. The recoverable amount is defined as the higher of the fair value less
\n
costs to sell of an asset and its value in use.
\n
The value in use is calculated by discounting future cash inflows and outflows generated
\n
by the continuous use of the asset and its final disposal at an appropriate discount rate.
\n
Intangible assets are impaired when their book value exceeds the amount that can be
\n
recovered, as a result of obsolescence of these assets or due to economic or
\n
technological circumstances.
\n
The useful life, the depreciation method, as well as the potential residual value of
\n
intangible assets are reassessed at each balance sheet date and revised prospectively, if
\n
applicable.
\n

\n\n\n\n

\n\n\n\n

\n\n
PPE is reviewed at each balance sheet date to identify indications of potential
\n
impairment that may have arisen during the financial year. In case such indications are
\n
noted, an estimate of the recoverable amount of the PPE in question is established. The
\n
recoverable amount is defined as the higher of the fair value less costs to sell of an asset
\n
and its value in use. The value in use is calculated by discounting future cash inflows and
\n
outflows generated by the continuous use of the asset and its final disposal at an
\n
appropriate discount rate.
\n

\n\n\n\n

\n\n\n\n

\n\n
Expected credit losses and write-downs
\n
Expected credit losses on financial assets accounted for at amortised cost are calculated
\n
using an individual approach, based on the credit quality of the counterparty and the
\n
maturity of the financial asset.
\n
Expected credit losses are calculated using a probability of default over the useful life of
\n
the financial asset.
\n
A financial asset is impaired where one or more events have occurred with a negative
\n
effect on the future estimated cash flows of this financial asset. The indications of the
\n
impairment of a financial asset encompass data that may be observed on the following
\n
events:
\n
\u2022 defaults in payments for more than 90 days,
\n
\u2022 significant financial difficulty of the issuer or debtor and
\n
\u2022 increasing probability of bankruptcy or financial restructuring of the lender.
\n
If the economic forecast (for example gross domestic product) deteriorates over the
\n
course of next year, which could lead to an increase in the number of defaults, the
\n
historical default rates are adjusted. At each balance sheet date, the historical default
\n
rates observed are updated and the changes in the forecast estimates are analysed.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag486": { "value": "\n
Intangible assets are reviewed at each balance sheet date to identify indications of
\n
potential impairment that may have arisen during the financial year. In case such
\n
indications are noted, an estimate of the recoverable amount of the related intangible
\n
assets is made. The recoverable amount is defined as the higher of the fair value less
\n
costs to sell of an asset and its value in use.
\n
The value in use is calculated by discounting future cash inflows and outflows generated
\n
by the continuous use of the asset and its final disposal at an appropriate discount rate.
\n
Intangible assets are impaired when their book value exceeds the amount that can be
\n
recovered, as a result of obsolescence of these assets or due to economic or
\n
technological circumstances.
\n
The useful life, the depreciation method, as well as the potential residual value of
\n
intangible assets are reassessed at each balance sheet date and revised prospectively, if
\n
applicable.
\n

\n\n\n\n
PPE is reviewed at each balance sheet date to identify indications of potential
\n
impairment that may have arisen during the financial year. In case such indications are
\n
noted, an estimate of the recoverable amount of the PPE in question is established. The
\n
recoverable amount is defined as the higher of the fair value less costs to sell of an asset
\n
and its value in use. The value in use is calculated by discounting future cash inflows and
\n
outflows generated by the continuous use of the asset and its final disposal at an
\n
appropriate discount rate.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag487": { "value": "\n
Emission rights for greenhouse gases
\n
Emission rights for greenhouse gases acquired at fair value are recognised as intangible
\n
assets at their acquisition cost. Rights granted free of charge are recognised as intangible
\n
assets at a nil book value.
\n
The cost associated with emission of greenhouse gases in the atmosphere is recognised
\n
as an operating expense, the counterpart being a liability for the obligation to deliver
\n
allowances covering the effective emission over the period concerned (other debts). This
\n
expense is measured by reference to the weighted average cost of the acquired or
\n
granted allowances.
\n
This liability is derecognised on the delivery of allowances to the government by
\n
withdrawing emission rights from intangible assets.
\n
In case the allowances are insufficient to cover the emission of greenhouse gases during
\n
the financial year, the group accounts for a provision. This provision is measured by
\n
reference to the market value at the balance sheet date of the allowances yet to be
\n
purchased.
\n
The excess emission rights not sold on the market are valued at the balance sheet date
\n
by reference to the weighted average cost of the acquired or granted allowances, or at
\n
market value if lower than the weighted average cost.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmissionRightsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag525": { "value": "\n

\n
Note 2.6. Property, plant and equipment
\n
Property, plant and equipment (PPE) is recognised as an asset if it is probable that future
\n
economic benefits attributable to the asset will flow to the entity and if the cost of the
\n
asset can be measured reliably.
\n
PPE is recognised at cost in the balance sheet (cost method), less any accumulated
\n
depreciation and any accumulated impairment losses.
\n
Subsequent expenditure is capitalised if it generates economic benefits exceeding the
\n
initial standard of performance.
\n\n

\n\n
PPE is reviewed at each balance sheet date to identify indications of potential
\n
impairment that may have arisen during the financial year. In case such indications are
\n
noted, an estimate of the recoverable amount of the PPE in question is established. The
\n
recoverable amount is defined as the higher of the fair value less costs to sell of an asset
\n
and its value in use. The value in use is calculated by discounting future cash inflows and
\n
outflows generated by the continuous use of the asset and its final disposal at an
\n
appropriate discount rate.
\n

\n\n\n\n

\n\n\n\n
Climate-related matters have been assessed and it has been determined that there is no
\n
impact on the useful life of assets. This assessment is in line with the regulatory framework
\n
determined by CREG. CREG has the authority to develop the methodology for
\n
transmission, storage and LNG terminalling tariffs, having conducted a public consultation
\n
for this purpose. This methodology states that the pipelines and installations should be fully
\n
depreciated by December 2049 at the latest, rule applied by the Fluxys Belgium group.
\n
\n
\n

\n\n\n\n

\n\n
Depreciation methods
\n
PPE is depreciated over its useful life.
\n
Each significant component of PPE is recognised separately and depreciated over its
\n
useful life.
\n
The depreciation method reflects the rate at which the group expects to consume the
\n
future economic benefits related to the asset, taking into account the time during which
\n
the assets may generate regulated revenue.
\n
The regulated investments intended to increase the security of supply in Europe are
\n
depreciated under a diminishing balance method, which more accurately reflects the
\n
rate at which the group expects to consume the future economic benefits of these
\n
assets. This is a specific list of regulated infrastructure investments, which are essential for
\n
gas transmission in Europe and form an integral part of the RAB.
\n
The methods and durations of depreciation used are as follows:
\n
Straight-line method:
\n
\u2022 50 years for transmission pipelines in Belgium, terminalling facilities and tanks;
\n
In line with the new tariff method applied since 01.01.2020, all investments (new and
\n
existing) in gas transmission pipelines are fully depreciated by December 2049 at the
\n
latest.
\n
In accordance with the new pricing methodology that has been applied since
\n
01.01.2024, all new investments in facilities will be fully amortised by December 2049
\n
at the latest.
\n
\u2022 50 years for administrative buildings, staff housing and facilities;
\n
\u2022 40 years for storage facilities;
\n
\u2022 33 years for industrial buildings;
\n
\u2022 20 years for investments related to the extensions of the Zeebrugge LNG terminal;
\n
\u2022 10 years for equipment and furniture;
\n
\u2022 5 years for vehicles and site machinery;
\n
\u2022 4 years for computer hardware;
\n
\u2022 3 years for prototypes;
\n
\n
Declining-balance method:
\n
\u2022 This method only applies for investments made to ensure security of supply: declining-
\n
balance.
\n
The useful life, the depreciation method, as well as the potential residual value of
\n
property, plant and equipment are reassessed at each balance sheet date and revised
\n
prospectively, if applicable.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag492": { "value": "\n
Depreciation methods
\n
PPE is depreciated over its useful life.
\n
Each significant component of PPE is recognised separately and depreciated over its
\n
useful life.
\n
The depreciation method reflects the rate at which the group expects to consume the
\n
future economic benefits related to the asset, taking into account the time during which
\n
the assets may generate regulated revenue.
\n
The regulated investments intended to increase the security of supply in Europe are
\n
depreciated under a diminishing balance method, which more accurately reflects the
\n
rate at which the group expects to consume the future economic benefits of these
\n
assets. This is a specific list of regulated infrastructure investments, which are essential for
\n
gas transmission in Europe and form an integral part of the RAB.
\n
The methods and durations of depreciation used are as follows:
\n
Straight-line method:
\n
\u2022 50 years for transmission pipelines in Belgium, terminalling facilities and tanks;
\n
In line with the new tariff method applied since 01.01.2020, all investments (new and
\n
existing) in gas transmission pipelines are fully depreciated by December 2049 at the
\n
latest.
\n
In accordance with the new pricing methodology that has been applied since
\n
01.01.2024, all new investments in facilities will be fully amortised by December 2049
\n
at the latest.
\n
\u2022 50 years for administrative buildings, staff housing and facilities;
\n
\u2022 40 years for storage facilities;
\n
\u2022 33 years for industrial buildings;
\n
\u2022 20 years for investments related to the extensions of the Zeebrugge LNG terminal;
\n
\u2022 10 years for equipment and furniture;
\n
\u2022 5 years for vehicles and site machinery;
\n
\u2022 4 years for computer hardware;
\n
\u2022 3 years for prototypes;
\n
\n
Declining-balance method:
\n
\u2022 This method only applies for investments made to ensure security of supply: declining-
\n
balance.
\n
The useful life, the depreciation method, as well as the potential residual value of
\n
property, plant and equipment are reassessed at each balance sheet date and revised
\n
prospectively, if applicable.
\n

\n\n\n\n
Right-of-use assets
\n
The group recognises right-of-use assets on the date of the start of the contract, i.e. the
\n
date on which the asset becomes available for use. These assets are valued at the initial
\n
cost of the lease obligation minus amortisation and any depreciation, adjusted to take
\n
into account any revaluations of the lease obligation. The initial cost of the right-of-use
\n
assets includes the present value of the lease obligation, the initial costs incurred by the
\n
lessee, rent payments made on the start date or before that date, minus any incentives
\n
obtained by the lessee. These assets are depreciated over the estimated lifetime of the
\n
underlying asset or over the duration of the contract if this period is shorter, unless the
\n
group is sufficiently certain of obtaining ownership of the asset at the end of the contract.
\n
Right-of-use assets are presented separately from other assets as a different entry under
\n
non-current assets.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag500": { "value": "\n

\n
Note 2.7. Leases
\n
Definition of \u2018lease\u2019
\n
A contract is or contains a lease if it conveys a right to control the use of an identified
\n
asset for a period of time in exchange for a consideration.
\n
To determine whether a lease confers the right to control use of a determined asset for a
\n
determined period of time, the entity must appreciate whether, throughout the period of
\n
use, it has the right to:
\n
\u2022 obtain substantially all of the economic benefits from the use of the asset; and
\n
\u2022 direct the use of the asset.
\n
To determine the duration of the lease, any options for renewal or termination are
\n
considered, as required under IFRS 16, taking into account the probability of exercising
\n
the option as well as whether it is under the control of the lessee.
\n
\n
\n
The group as a lessee
\n
At the start of the lease, the lessee recognises a right-of-use asset and a lease obligation.
\n\n
Right-of-use assets
\n
The group recognises right-of-use assets on the date of the start of the contract, i.e. the
\n
date on which the asset becomes available for use. These assets are valued at the initial
\n
cost of the lease obligation minus amortisation and any depreciation, adjusted to take
\n
into account any revaluations of the lease obligation. The initial cost of the right-of-use
\n
assets includes the present value of the lease obligation, the initial costs incurred by the
\n
lessee, rent payments made on the start date or before that date, minus any incentives
\n
obtained by the lessee. These assets are depreciated over the estimated lifetime of the
\n
underlying asset or over the duration of the contract if this period is shorter, unless the
\n
group is sufficiently certain of obtaining ownership of the asset at the end of the contract.
\n
Right-of-use assets are presented separately from other assets as a different entry under
\n
non-current assets.
\n

\n\n\n\n

\n\n\n\n
Lease obligations
\n
The lease obligation is valued at the present value of the rent payments that have not yet
\n
been paid. The present value of the rent payments must be calculated using the interest
\n
rate implicit in the lease if it is possible to determine that rate. If not, the lessee must use its
\n
incremental borrowing rate.
\n
The incremental borrowing rate is the interest rate that the lessee would have to pay to
\n
borrow over a similar term, and with a similar security, the funds necessary to obtain an
\n
asset of similar value to the right-of-use asset in a similar economic environment.
\n
\n
\n
Over the duration of the contract, the lessee values the lease obligation as follows:
\n
\u2022 by increasing the book value to reflect the interest on the lease obligation;
\n
\u2022 by reducing the book value to reflect the rent payments made;
\n
\u2022 by revaluing the book value to reflect the new appreciation of the lease obligation
\n
or amendments to the lease.
\n
The services included in leases do not form part of the lease debt.
\n
Lease obligations are presented in a separate entry under current and non-current
\n
interest-bearing liabilities (see note 5.11).
\n
Short-term leases and low-value leases
\n
For short-term leases (duration of 12 months or less), the Fluxys Belgium group registers a
\n
lease expense.
\n
To determine the criteria for a low-value lease, a threshold has been determined, except
\n
for vehicles, which are included in the group of vehicles leased for more than one year
\n
without applying the value criteria.
\n
For short-term leases, and low-value leases, the effect on profit/loss is not significant.
\n
\n
Presentation
\n
In the consolidated income statement, the interest charge on the lease obligation is
\n
presented separately from the depreciation charge that applies to the right-of-use asset.
\n
In the cash flow statement, the cash flows will be presented as follows:
\n
\u2022 cash outflows relating to the principal of the lease obligation and the interest paid, in
\n
the financing activities;
\n
\u2022 rent payments for short-term leases, low-value leases and variable rent payments that
\n
have not been taken into account in the valuation of the lease obligations, in the
\n
operating activities.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag503": { "value": "\n

\n

\n
Note 2.8. Financial instruments
\n
Recognition and derecognition of financial assets and liabilities
\n\n

\n

\n\n
Recognition
\n
Financial assets and liabilities are recognised when the group becomes party to the
\n
instrument\u2019s contractual terms.
\n

\n\n\n\n\n
Derecognition of financial assets
\n
The group has to derecognise a financial asset if and only if the contractual rights on the
\n
cash flows of the financial asset expire, or where it transfers almost all the risks and
\n
advantages inherent to the ownership of the financial asset to a third party.
\n
If the group neither transfers nor retains substantially all the risks and rewards of ownership
\n
of a transferred asset, and retains control of the transferred asset, the group continues to
\n
recognise the financial asset to the extent of its continuing involvement and recognises a
\n
related liability for the amount received.
\n
If the group keeps almost all the risks and advantages inherent to the ownership of the
\n
financial asset, it continues to recognise the whole financial asset and recognises a
\n
financial liability for the consideration received.
\n
When a financial asset measured at amortised cost is derecognised, the difference
\n
between the amortised cost and the sum of the considerations received is transferred to
\n
the income statement.
\n
When an investment in equity instruments until now measured at fair value with changes
\n
to other comprehensive income are derecognised, the accumulated profit/loss
\n
recognised previously in other comprehensive income is not reclassified to net income.
\n

\n\n\n\n

\n\n\n\n\n

\n\n
Derecognition of financial liabilities
\n
The entity derecognises a financial liability only if this liability is extinguished, i.e. once the
\n
obligation is fulfilled, cancelled or it expires.
\n
The difference between the book value of an extinguished financial liability and the
\n
consideration paid, including, where applicable, the assets (non-cash) transferred and
\n
the liabilities acquired must be recognised in the income statement.
\n

\n\n\n\n
Unconsolidated equity instruments (such as shares and equity rights)
\n
The Fluxys Belgium group values the unconsolidated equity instruments at fair value with
\n
changes to other comprehensive income.
\n
However, given the materiality of certain instruments and the unavailability of recent
\n
market values, certain equity instruments are accounted for at the initial cost.
\n
The dividends received for these equity instruments are recognised in financial income
\n
under the item \u2018Dividends from unconsolidated entities\u2019.
\n

\n\n\n\n

\n\n\n\n

\n\n

\n

\n

\n

\n
Cash investments, cash and cash equivalents
\n\n
Cash investments in the form of bonds or commercial paper, having a maturity date
\n
exceeding three months, are reported as financial assets measured at amortised cost.
\n
These are shown in the balance sheet under non-current \u2018other financial assets\u2019 and
\n
under current \u2018investments\u2019.
\n
Cash and cash equivalents held are reported as financial assets measured at amortised
\n
cost.
\n

\n\n\n\n
The economic model used by the Fluxys Belgium group to manage financial assets aims
\n
to hold them in order to obtain contractual cash flows. The sales of financial assets are
\n
rare, and the group does not expect to proceed with such sales in the future, except in
\n
the case of an increased credit risk for the assets over and above the policy advocated
\n
by the group. A sale may also be motivated by an unexpected financing need.
\n
Where the conditions required to be qualified as financial assets valued at amortised cost
\n
are not met, these financial assets concerned are valued at fair value with changes to
\n
net profit/loss.
\n\n
Trade and other receivables
\n
Trade and other receivables are stated at their face value reduced by any amounts
\n
deemed unrecoverable.
\n
When the time value of money is significant, trade and other receivables are discounted.
\n
Impairment losses are recognised when the book value of these items at balance sheet
\n
date exceeds their recoverable amount.
\n

\n\n\n\n\n

\n\n
Expected credit losses and write-downs
\n
Expected credit losses on financial assets accounted for at amortised cost are calculated
\n
using an individual approach, based on the credit quality of the counterparty and the
\n
maturity of the financial asset.
\n
Expected credit losses are calculated using a probability of default over the useful life of
\n
the financial asset.
\n
A financial asset is impaired where one or more events have occurred with a negative
\n
effect on the future estimated cash flows of this financial asset. The indications of the
\n
impairment of a financial asset encompass data that may be observed on the following
\n
events:
\n
\u2022 defaults in payments for more than 90 days,
\n
\u2022 significant financial difficulty of the issuer or debtor and
\n
\u2022 increasing probability of bankruptcy or financial restructuring of the lender.
\n
If the economic forecast (for example gross domestic product) deteriorates over the
\n
course of next year, which could lead to an increase in the number of defaults, the
\n
historical default rates are adjusted. At each balance sheet date, the historical default
\n
rates observed are updated and the changes in the forecast estimates are analysed.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n\n

\n

\n

\n\n
Interest-bearing liabilities
\n
Interest-bearing liabilities are recognised at the net amount received. Following initial
\n
recognition, interest-bearing liabilities are recorded at amortised cost. The difference
\n
between the amortised cost and the redemption value is recognised in the income
\n
statement under the effective interest rate method over the term of the liabilities.
\n

\n\n\n\n\n
Trade payables
\n
Trade payables are stated at face value.
\n
When the time value of money is significant, trade payables are discounted.
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag504": { "value": "\n

\n

\n\n
Recognition
\n
Financial assets and liabilities are recognised when the group becomes party to the
\n
instrument\u2019s contractual terms.
\n

\n\n\n\n\n
Derecognition of financial assets
\n
The group has to derecognise a financial asset if and only if the contractual rights on the
\n
cash flows of the financial asset expire, or where it transfers almost all the risks and
\n
advantages inherent to the ownership of the financial asset to a third party.
\n
If the group neither transfers nor retains substantially all the risks and rewards of ownership
\n
of a transferred asset, and retains control of the transferred asset, the group continues to
\n
recognise the financial asset to the extent of its continuing involvement and recognises a
\n
related liability for the amount received.
\n
If the group keeps almost all the risks and advantages inherent to the ownership of the
\n
financial asset, it continues to recognise the whole financial asset and recognises a
\n
financial liability for the consideration received.
\n
When a financial asset measured at amortised cost is derecognised, the difference
\n
between the amortised cost and the sum of the considerations received is transferred to
\n
the income statement.
\n
When an investment in equity instruments until now measured at fair value with changes
\n
to other comprehensive income are derecognised, the accumulated profit/loss
\n
recognised previously in other comprehensive income is not reclassified to net income.
\n

\n\n\n\n

\n\n\n\n

\n

\n

\n

\n
Cash investments, cash and cash equivalents
\n\n
Cash investments in the form of bonds or commercial paper, having a maturity date
\n
exceeding three months, are reported as financial assets measured at amortised cost.
\n
These are shown in the balance sheet under non-current \u2018other financial assets\u2019 and
\n
under current \u2018investments\u2019.
\n
Cash and cash equivalents held are reported as financial assets measured at amortised
\n
cost.
\n

\n\n\n\n
The economic model used by the Fluxys Belgium group to manage financial assets aims
\n
to hold them in order to obtain contractual cash flows. The sales of financial assets are
\n
rare, and the group does not expect to proceed with such sales in the future, except in
\n
the case of an increased credit risk for the assets over and above the policy advocated
\n
by the group. A sale may also be motivated by an unexpected financing need.
\n
Where the conditions required to be qualified as financial assets valued at amortised cost
\n
are not met, these financial assets concerned are valued at fair value with changes to
\n
net profit/loss.
\n\n
Trade and other receivables
\n
Trade and other receivables are stated at their face value reduced by any amounts
\n
deemed unrecoverable.
\n
When the time value of money is significant, trade and other receivables are discounted.
\n
Impairment losses are recognised when the book value of these items at balance sheet
\n
date exceeds their recoverable amount.
\n

\n\n\n\n\n

\n\n
Expected credit losses and write-downs
\n
Expected credit losses on financial assets accounted for at amortised cost are calculated
\n
using an individual approach, based on the credit quality of the counterparty and the
\n
maturity of the financial asset.
\n
Expected credit losses are calculated using a probability of default over the useful life of
\n
the financial asset.
\n
A financial asset is impaired where one or more events have occurred with a negative
\n
effect on the future estimated cash flows of this financial asset. The indications of the
\n
impairment of a financial asset encompass data that may be observed on the following
\n
events:
\n
\u2022 defaults in payments for more than 90 days,
\n
\u2022 significant financial difficulty of the issuer or debtor and
\n
\u2022 increasing probability of bankruptcy or financial restructuring of the lender.
\n
If the economic forecast (for example gross domestic product) deteriorates over the
\n
course of next year, which could lead to an increase in the number of defaults, the
\n
historical default rates are adjusted. At each balance sheet date, the historical default
\n
rates observed are updated and the changes in the forecast estimates are analysed.
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag505": { "value": "\n
Recognition
\n
Financial assets and liabilities are recognised when the group becomes party to the
\n
instrument\u2019s contractual terms.
\n

\n\n\n\n

\n\n
Derecognition of financial liabilities
\n
The entity derecognises a financial liability only if this liability is extinguished, i.e. once the
\n
obligation is fulfilled, cancelled or it expires.
\n
The difference between the book value of an extinguished financial liability and the
\n
consideration paid, including, where applicable, the assets (non-cash) transferred and
\n
the liabilities acquired must be recognised in the income statement.
\n

\n\n\n\n
Unconsolidated equity instruments (such as shares and equity rights)
\n
The Fluxys Belgium group values the unconsolidated equity instruments at fair value with
\n
changes to other comprehensive income.
\n
However, given the materiality of certain instruments and the unavailability of recent
\n
market values, certain equity instruments are accounted for at the initial cost.
\n
The dividends received for these equity instruments are recognised in financial income
\n
under the item \u2018Dividends from unconsolidated entities\u2019.
\n

\n\n\n\n

\n

\n

\n\n
Interest-bearing liabilities
\n
Interest-bearing liabilities are recognised at the net amount received. Following initial
\n
recognition, interest-bearing liabilities are recorded at amortised cost. The difference
\n
between the amortised cost and the redemption value is recognised in the income
\n
statement under the effective interest rate method over the term of the liabilities.
\n

\n\n\n\n\n
Trade payables
\n
Trade payables are stated at face value.
\n
When the time value of money is significant, trade payables are discounted.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag506": { "value": "\n
Derecognition of financial assets
\n
The group has to derecognise a financial asset if and only if the contractual rights on the
\n
cash flows of the financial asset expire, or where it transfers almost all the risks and
\n
advantages inherent to the ownership of the financial asset to a third party.
\n
If the group neither transfers nor retains substantially all the risks and rewards of ownership
\n
of a transferred asset, and retains control of the transferred asset, the group continues to
\n
recognise the financial asset to the extent of its continuing involvement and recognises a
\n
related liability for the amount received.
\n
If the group keeps almost all the risks and advantages inherent to the ownership of the
\n
financial asset, it continues to recognise the whole financial asset and recognises a
\n
financial liability for the consideration received.
\n
When a financial asset measured at amortised cost is derecognised, the difference
\n
between the amortised cost and the sum of the considerations received is transferred to
\n
the income statement.
\n
When an investment in equity instruments until now measured at fair value with changes
\n
to other comprehensive income are derecognised, the accumulated profit/loss
\n
recognised previously in other comprehensive income is not reclassified to net income.
\n

\n\n\n\n
Derecognition of financial liabilities
\n
The entity derecognises a financial liability only if this liability is extinguished, i.e. once the
\n
obligation is fulfilled, cancelled or it expires.
\n
The difference between the book value of an extinguished financial liability and the
\n
consideration paid, including, where applicable, the assets (non-cash) transferred and
\n
the liabilities acquired must be recognised in the income statement.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag512": { "value": "\n
Cash investments in the form of bonds or commercial paper, having a maturity date
\n
exceeding three months, are reported as financial assets measured at amortised cost.
\n
These are shown in the balance sheet under non-current \u2018other financial assets\u2019 and
\n
under current \u2018investments\u2019.
\n
Cash and cash equivalents held are reported as financial assets measured at amortised
\n
cost.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag513": { "value": "\n
Trade and other receivables
\n
Trade and other receivables are stated at their face value reduced by any amounts
\n
deemed unrecoverable.
\n
When the time value of money is significant, trade and other receivables are discounted.
\n
Impairment losses are recognised when the book value of these items at balance sheet
\n
date exceeds their recoverable amount.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag515": { "value": "\n
Expected credit losses and write-downs
\n
Expected credit losses on financial assets accounted for at amortised cost are calculated
\n
using an individual approach, based on the credit quality of the counterparty and the
\n
maturity of the financial asset.
\n
Expected credit losses are calculated using a probability of default over the useful life of
\n
the financial asset.
\n
A financial asset is impaired where one or more events have occurred with a negative
\n
effect on the future estimated cash flows of this financial asset. The indications of the
\n
impairment of a financial asset encompass data that may be observed on the following
\n
events:
\n
\u2022 defaults in payments for more than 90 days,
\n
\u2022 significant financial difficulty of the issuer or debtor and
\n
\u2022 increasing probability of bankruptcy or financial restructuring of the lender.
\n
If the economic forecast (for example gross domestic product) deteriorates over the
\n
course of next year, which could lead to an increase in the number of defaults, the
\n
historical default rates are adjusted. At each balance sheet date, the historical default
\n
rates observed are updated and the changes in the forecast estimates are analysed.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag517": { "value": "\n
Interest-bearing liabilities
\n
Interest-bearing liabilities are recognised at the net amount received. Following initial
\n
recognition, interest-bearing liabilities are recorded at amortised cost. The difference
\n
between the amortised cost and the redemption value is recognised in the income
\n
statement under the effective interest rate method over the term of the liabilities.
\n

\n\n\n\n
Note 2.10. Borrowing costs
\n
Borrowing costs directly attributable to the acquisition, building or production of assets
\n
requiring a substantial period of time to get ready for their intended use (property, plant
\n
and equipment, investment property, etc.) are added to the costs of the assets
\n
concerned until they are ready for use or sale.
\n
The amount of the borrowing costs to be capitalised is the actual cost incurred in
\n
borrowing the funds, as reduced by income from any temporary investment of these
\n
funds.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag518": { "value": "\n
Trade payables
\n
Trade payables are stated at face value.
\n
When the time value of money is significant, trade payables are discounted.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag519": { "value": "\n
Note 2.9. Inventories
\n
Valuation
\n
Inventories are valued at the lower of cost and net realisable value.
\n
Inventories are written down to account for:
\n
\u2022 a reduction in net realisable value, or
\n
\u2022 impairment losses due to unforeseen circumstances related to the nature or use of
\n
the assets.
\n
This impairment on inventories is recognised in the income statement in the period in
\n
which they arise.
\n
Gas inventory
\n
Gas inventory changes are valued under the weighted average cost method.
\n
Supplies and consumables
\n
Supplies and consumables are valued under the weighted average cost method.
\n
Work in progress
\n
Work in progress for third parties is valued at cost, including indirectly attributable costs.
\n
When the outcome of a contract can be reliably estimated, contract revenue and
\n
expenses are recognised as revenue and expenses respectively by reference to the
\n
stage of completion of the contract at balance sheet date. Any expected loss is
\n
recognised immediately as an expense in the income statement.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag520": { "value": "\n

\n\n
Note 2.10. Borrowing costs
\n
Borrowing costs directly attributable to the acquisition, building or production of assets
\n
requiring a substantial period of time to get ready for their intended use (property, plant
\n
and equipment, investment property, etc.) are added to the costs of the assets
\n
concerned until they are ready for use or sale.
\n
The amount of the borrowing costs to be capitalised is the actual cost incurred in
\n
borrowing the funds, as reduced by income from any temporary investment of these
\n
funds.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag522": { "value": "\n
Note 2.11. Provisions
\n
Provisions are recognised as a liability in the balance sheet when they meet the following
\n
criteria:
\n
\u2022 the group has a present (legal or constructive) obligation arising from a past event;
\n
\u2022 it is probable (i.e. more likely than not) that the settlement of this obligation will lead
\n
to an outflow of resources embodying economic benefits;
\n
\u2022 the amount of the obligation can be reliably estimated.
\n
No provision is recognised if the above conditions are not met.
\n
The amount recognised as a provision is the best estimate of the expenditure required to
\n
settle the present obligation at the balance sheet date, in other words the amount the
\n
entity reasonably expects to have to pay to discharge the obligation at balance sheet
\n
date, or to transfer it to a third party at the same date.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag523": { "value": "\n
Employee benefits
\n
Some companies in the Fluxys group have established supplementary \u2018defined benefit\u2019 or
\n
\u2018defined contribution\u2019 pension plans. Benefits provided under these plans are based on
\n
the number of years of service and the employee\u2019s salary.
\n
\u2018Defined benefit\u2019 pension plans enable employees to benefit from a capital sum
\n
calculated on the basis of a formula which takes account of their annual salary at the
\n
end of their career and their seniority when they retire.
\n
\u2018Defined contribution\u2019 pension plans provide employees with a capital sum accumulated
\n
from personal and employer contributions, based on the salary.
\n
In Belgium, the law requires that the employer guarantee a minimum return for defined
\n
contribution, which varies based on the market rates.
\n
The accounting method used by the group to value these \u2018defined contribution pension
\n
plans, with a guaranteed minimum return\u2019, is identical to the method used for \u2018defined
\n
benefit\u2019 plans.
\n
In case of death before retirement, these plans provide a capital sum for the surviving
\n
spouse, as well as allowances for orphans.
\n

\n\n\n\n
Other employee benefits
\n
Certain group companies offer their employees post-employment benefits such as the
\n
reimbursement of medical costs and price subsidies, and other long-term benefits
\n
(seniority bonuses).
\n
Valuation
\n
These liabilities are valued annually by a qualified actuary.
\n
Regular payments made in relation to the supplementary pension plans are recognised
\n
as expenses at the time they are incurred.
\n
\u2018Defined benefit\u2019 pension plans
\n
Provisions for pensions and other collective agreements are reported in the balance
\n
sheet in accordance with IAS 19 (Employee Benefits), using the projected unit credit
\n
method (PUCM).
\n
The current value of post-employment benefits is determined at each balance sheet
\n
date based on the projected salary estimated at the end of the employee\u2019s career, the
\n
rate of inflation, life expectancy, staff turnover and the expected age of retirement. The
\n
present value of defined benefit obligations is determined using a discount rate based on
\n
high-quality bonds with maturity dates close to the weighted average maturity of the
\n
plans concerned and which are denominated in the currency in which the benefits are
\n
to be paid.
\n
The amount accounted for in respect of post-employment liabilities corresponds to the
\n
difference between the current value of future obligations and the fair value of assets in
\n
the plan destined to cover them. Any deficit resulting from this valuation is subject to the
\n
recognition of a provision to cover this risk.
\n
\n
In the opposite case, an asset is recognised in line with the surplus of the defined benefit
\n
pension plan, capped at the current value of any future reimbursement from the plan or
\n
any reduction in future contributions to the plan.
\n
\n
The remeasurements of the liabilities or assets in the balance sheet comprise:
\n
\u2022 the actuarial gains or losses on the defined benefit liabilities resulting from
\n
adjustments relating to experience and/or changes in actuarial assumptions
\n
(including the effect of the change in the discount rate);
\n
\u2022 the return on plan assets (excluding amounts included in net interest) and changes in
\n
the effect of the asset ceiling (excluding amounts included in net interest).
\n
These remeasurements are directly recognised in equity through the other items in
\n
comprehensive income.
\n
\u2018Defined contribution\u2019 pension plans
\n
The liabilities of the group with regard to \u2018defined contribution\u2019 plans are limited to the
\n
employer contributions paid recorded in the results.
\n

\n\n\n\n
Actuarial gains and losses relating to other long-term employee benefits
\n
The other long-term benefits are accounted for in the same way as the post-employment
\n
benefits, but revaluations are fully accounted for in the financial results in the financial
\n
year in which they occur.
\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag243": { "value": "\n
Note 2.12. Revenue recognition
\n
The group accounts for operating revenue as it meets a service obligation by supplying
\n
the customer with the promised good or service and as this latter obtains control thereof.
\n
The Fluxys Belgium group uses a five-stage approach to determine whether a contract
\n
entered into with a customer may be accounted for and the way in which revenue
\n
should be recognised:
\n
1. identification of the contract,
\n
2. identification of the service obligations,
\n
3. determination of the transaction price,
\n
4. distribution of the transaction price between the service obligations and
\n
5. recognition of operating revenue where the service obligations are met or where the
\n
control of the goods or services is transferred to the customer.
\n
Group revenues mainly come from standard regulated contracts for which both the
\n
services to be provided and the price of the service are clearly identified.
\n
Fluxys Belgium and its subsidiaries transfer the control of their regulated services
\n
progressively and in doing so meet their service obligation and account for operating
\n
revenue progressively. It should be noted that the revenue from regulated activity is
\n
recognised based on reserved capacities.
\n
Furthermore, the Fluxys Belgium group makes sales of gas that are necessary for
\n
balancing operations and its operational needs. These services, fulfilled at a specific time,
\n
are recognised in operating revenue at the time of their fulfilment. From 1 June 2020,
\n
these balancing operations are conducted by the joint venture with Balansys. The
\n
technical balancing, which is intended to be residual, remains with Fluxys Belgium.
\n
Regulated income received by the group may generate a gain or a loss compared with
\n
the target rate of return on the capital invested. Gains are reported and recognised as
\n
regulatory liabilities, whereas losses are included in operating revenue to offset the
\n
accounting of regulatory assets. The Group has no regulatory assets in the published
\n
periods.
\n
The regulatory framework is explained in further detail in the chapter on \u2018Regulatory and
\n
legal framework\u2019 of the annual report.
\n
In note 4 - Segment income statement, the distinction is shown between the revenue
\n
invoiced and the revenue recognised. The latter includes the revenue invoiced, but also
\n
the movements in regulatory assets and liabilities.
\n

\n\n\n\n\n\n\n
The following table provides more detailed information on the Group\u2019s services
\n
(performance obligations), types of contracts, pricing, and the way in which operating
\n
revenue is recognised. Most of this revenue is regulated.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Legal Revenue Performance obligation: nature, customer Contract type and
entitystreamand timing of satisfaction pricing
Fluxys Transmission Nature of performance obligation: sale ofRegulated Standard
Belgiumservicescapacity and related services in the Transmission
pipeline infrastructure to its customers to Agreement.
transmit natural gas to distribution system
operators, power stations and major Regulated tariffs are
industrial end-users in Belgium or to transport expressed in
natural gas to a border point for transmission \u20ac/kWh/h/year
to other end-user markets in Europe.
Customers: gas shippers reserve capacity
slots (short + long term contracts)
Revenue recognition: the performance
obligation consists in making these
capacities available for the customers for
use at the customers\u2019 discretion (cf. IFRS
15.26 (e)).
Basically, the contracts between Fluxys
Belgium and their customers determine that
the latter reserve a certain capacity that
can be used over a certain period, at the
choice of the customer.
Thus, Fluxys Belgium will transfer to the
customer a series of services that are
substantially the same and that have the
same pattern of transfer to the customer
(IFRS 15.22 (b)).
Each service in the series provided by Fluxys
Belgium is a performance obligation
satisfied over time, as described by IFRS
15.35a (the customer simultaneously
receives and consumes the benefits
provided by Fluxys\u2019 performance as Fluxys
performs).
Therefore, the reserved capacities are
invoiced and recognised monthly over the
period covered by the contract related to
the capacities reserved (in accordance
with IFRS 15.39 and IFRS 15.B15), i.e. over
time recognition.
Fluxys Storage Nature of performance obligation: storage Regulated Standard
Belgiumcapacity services enabling customers to use bufferStorage Agreement
servicecapacity flexibly according to their needs. (in combination with a
The gas is stored in the underground regulated Standard
facilities in Loenhout, Belgium. Transmission
Agreement to enable
Most of the revenues are generated by the injecting into and
sale of standard bundled packages, withdrawing from the
composed of injection, storage and gas grid \u2013 see above).
withdrawing capacity throughout the Regulated tariffs for
storage season in fixed proportion. Such storage capacity are
\n\n\n\n\n
\n
\n

\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
contracts can be both long term and short expressed in \u20ac/stan-
term. dard bundled unit per
Customers: As for transmission, the revenues year. Tariffs for
are based on the reserved capacities.separately purchased
storage capacity are
Revenue recognition: revenue is recognisedexpressed in
over time as these services are performed \u20ac/GWh/year.
continuously throughout the contractual term.
Injection or
withdrawal capacity is
expressed in
\u20ac/m\u00b3(n)/h/year.
Fluxys Terminalling Standard regulated
LNGservicesNature of performance obligations:LNG Terminalling
Agreement, mostly
Unloading services (time slots are sold in combined with a
advance, the so-called \u2018berthing rights\u2019), separate standard
possibly combined with related servicesregulated LNG Service
such as storage, regasification or sending Agreement for
out (i.e. transform the liquid gas into gas that ancillary services such
can be injected in the grid).as storage and
Loading servicessending out capacity,
Transhipment services, that occur in 2 forms:etc.
Ship-To-Ship: unloading of LNG from one Tariffs for (un)loading
LNG ship directly to another.are expressed in
Ship-Storage-Ship: LNG is unloaded from an \u20ac/berthing right for the
LNG ship, then stored in a tank at the capacity reservations.
terminal. It can be loaded a few days later For storage and for
by another LNG ship.regasification and
Customers: Customers reserve berthing sending out services,
rights in advance, these can be both long tariffs are expressed in
term and short term contracts. \u20ac/MWh/day.
Revenue recognition: revenue of these
berthing rights is recognised over timeRegulated standard
based on the reserved capacity, LNG Transhipment
independently of whether the slots are used Service Agreement.
or not.Tariffs are expressed in
For some additional services, such as \u20ac/berthing right for the
storage, revenue is recognised over time as transhipment services.
well, in accordance with IFRS 15.35(a). For For additional storage
other additional services, such as services, the tariff is
regasification, revenue is recognised at a expressed in
point in time.\u20ac/MWh/day.
\n\n\n\n\n
\n
\n
\n
\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag249": { "value": "\n

\n
Note 2.13. Income taxes
\n
Current tax is determined in accordance with local tax regulations and calculated on the
\n
income of the parent entity, subsidiaries and joint operations.
\n\n
Deferred tax liabilities and assets reflect the future taxable and deductible temporary
\n
differences, respectively, between the book base and the tax base of assets and
\n
liabilities.
\n

\n\n\n\n\n\n\n
\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag250": { "value": "\n
Deferred tax liabilities and assets reflect the future taxable and deductible temporary
\n
differences, respectively, between the book base and the tax base of assets and
\n
liabilities.
\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag251": { "value": "\n

\n

\n

\n

\n
Consolidation scope
\n
The consolidation scope and percentage of interests in consolidated entities remained
\n
identical to those of 31 December 2023.
\n\n
Information on investments
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Fully consolidated entities
Name of % owner-Core Balance sheet
the Registered officeEntity numbershipbusinessCurrencydate
subsidiary
Fluxys LNG Rue Guimard 4LNG
SA0426 047 853100.00%terminalling\u20ac31 December
B - 1040 Brussels
Rue de Merl 74
Flux Re SAL - 2146 - 100.00%Reinsurance \u20ac31 December
entity
Luxembourg
Fluxys c-Rue Guimard 4CO2
grid SA1002.472.82877,50%transmission\u20ac31 December
B - 1040 Bruxelles
Fluxys Rue Guimard 4Hydrogen
hydrogen 1002.472.927100,00%transmission\u20ac31 December
SAB - 1040 Bruxelles
\n\n\n\n\n
\n
\n

\n\n\n\n\n\n\n
\n

\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Entities accounted for using the equity method
Name of Entity % owner-Core Balance
the Registered officenumbershipbusinessCurrencysheet date
subsidiary
Balansys Rue de Strassen 105Balancing
SA- 50.00%operator\u20ac31 December
L - 2555 Luxembourg
\n\n\n\n
\n
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n\n

\n\n
Nature and scope of the restrictions related to the assets and liabilities of
\n
the group
\n
Special rights are attached to the special share of the Belgian State in Fluxys Belgium,
\n
other than the normal rights attached to all other shares. These special rights are
\n
exercised by the Federal Minister in charge of Energy and can be summarised as follows:
\n
\u2022 the right to oppose to all transfers, any assignment as security or change of the
\n
destination of strategic assets of Fluxys Belgium of which the list is set out in an annex
\n
to the royal decree of 16 June 1994, if the Federal Minister in charge of Energy
\n
considers that this operation prejudices the national interests in the area of energy;
\n
\u2022 the right to appoint two representatives of the federal government with a
\n
consultative vote in the Board of Directors and the Strategic Committee of Fluxys
\n
Belgium;
\n
\u2022 the right of the representatives of the federal government, within four business days,
\n
to appeal to the Federal Minister in charge of Energy on the basis of objective, non-
\n
discriminatory and transparent criteria, as defined in the Royal Decree of 5
\n
December 2000, against any decision of the Board of Directors or any advice of the
\n
strategic Committee of Fluxys Belgium (including the investment and business plan
\n
and related budget) which they regard as contrary to the guidelines of the country\u2019s
\n
energy policy, including the government's objectives concerning the country's
\n
energy supply. The appeal is suspensive. If the Federal Minister in charge of Energy
\n
has not cancelled the decision concerned within eight business days after this
\n
appeal, it becomes final;
\n
\u2022 a special voting right in case of deadlock in the General meeting on a matter
\n
concerning the objectives of the federal energy policy.
\n
There are no other significant restrictions that may limit the ability of the group to access
\n
or use its assets and discharge its liabilities. However, it must be noted that the assets of
\n
Flux Re are destined to cover the risk of the company in the scope of its reinsurance
\n
activities. The total assets in the balance sheet of Flux Re came to \u20ac184.2 million as at 31-
\n
12-2024 compared to \u20ac177.8 million as at 2023 year-end.
\n
Balansys SA is a company governed by Luxembourg law in which 50% of shares are held
\n
by Fluxys Belgium SA and 50% by Creos Luxembourg SA. The objective of this company is
\n
to integrate the Belgian and Luxembourg natural gas markets. As part of this objective,
\n
an agreement has been signed between the shareholders that stipulates that Balansys SA
\n
shares may not be encumbered with any guarantees or transferred, unless for the benefit
\n
of another transmission network operator and with the agreement of the other
\n
shareholder.
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n

\n\n
The key figures of Balansys are shown in the table below:
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Entity accounted for using the equity method31-12-202431-12-2023
In thousands of \u20ac (*)In thousands of \u20ac (*)
Non-current assets00
Current assets52,52358,340
Equity100100
Non-current liabilities30,20326,167
Current liabilities22,22032,073
Operating revenue125,293148,698
Operating expenses-124,274-147,560
Net financial result-980-1,099
Income tax expenses-39-40
Net profit/loss for the period00
Entities accounted for by the equity method5050
Result of entities accounted for by the equity method 00
\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
(*) Figures before intercompany eliminations, on a 100% basis and subject to approval of
\n
the accounts by the governing bodies and the general assembly of the entity.
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag253": { "value": "\n
Information on investments
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Fully consolidated entities
Name of % owner-Core Balance sheet
the Registered officeEntity numbershipbusinessCurrencydate
subsidiary
Fluxys LNG Rue Guimard 4LNG
SA0426 047 853100.00%terminalling\u20ac31 December
B - 1040 Brussels
Rue de Merl 74
Flux Re SAL - 2146 - 100.00%Reinsurance \u20ac31 December
entity
Luxembourg
Fluxys c-Rue Guimard 4CO2
grid SA1002.472.82877,50%transmission\u20ac31 December
B - 1040 Bruxelles
Fluxys Rue Guimard 4Hydrogen
hydrogen 1002.472.927100,00%transmission\u20ac31 December
SAB - 1040 Bruxelles
\n\n\n\n\n
\n
\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag254": { "value": "\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Entities accounted for using the equity method
Name of Entity % owner-Core Balance
the Registered officenumbershipbusinessCurrencysheet date
subsidiary
Balansys Rue de Strassen 105Balancing
SA- 50.00%operator\u20ac31 December
L - 2555 Luxembourg
\n\n\n\n
\n
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n
Nature and scope of the restrictions related to the assets and liabilities of
\n
the group
\n
Special rights are attached to the special share of the Belgian State in Fluxys Belgium,
\n
other than the normal rights attached to all other shares. These special rights are
\n
exercised by the Federal Minister in charge of Energy and can be summarised as follows:
\n
\u2022 the right to oppose to all transfers, any assignment as security or change of the
\n
destination of strategic assets of Fluxys Belgium of which the list is set out in an annex
\n
to the royal decree of 16 June 1994, if the Federal Minister in charge of Energy
\n
considers that this operation prejudices the national interests in the area of energy;
\n
\u2022 the right to appoint two representatives of the federal government with a
\n
consultative vote in the Board of Directors and the Strategic Committee of Fluxys
\n
Belgium;
\n
\u2022 the right of the representatives of the federal government, within four business days,
\n
to appeal to the Federal Minister in charge of Energy on the basis of objective, non-
\n
discriminatory and transparent criteria, as defined in the Royal Decree of 5
\n
December 2000, against any decision of the Board of Directors or any advice of the
\n
strategic Committee of Fluxys Belgium (including the investment and business plan
\n
and related budget) which they regard as contrary to the guidelines of the country\u2019s
\n
energy policy, including the government's objectives concerning the country's
\n
energy supply. The appeal is suspensive. If the Federal Minister in charge of Energy
\n
has not cancelled the decision concerned within eight business days after this
\n
appeal, it becomes final;
\n
\u2022 a special voting right in case of deadlock in the General meeting on a matter
\n
concerning the objectives of the federal energy policy.
\n
There are no other significant restrictions that may limit the ability of the group to access
\n
or use its assets and discharge its liabilities. However, it must be noted that the assets of
\n
Flux Re are destined to cover the risk of the company in the scope of its reinsurance
\n
activities. The total assets in the balance sheet of Flux Re came to \u20ac184.2 million as at 31-
\n
12-2024 compared to \u20ac177.8 million as at 2023 year-end.
\n
Balansys SA is a company governed by Luxembourg law in which 50% of shares are held
\n
by Fluxys Belgium SA and 50% by Creos Luxembourg SA. The objective of this company is
\n
to integrate the Belgian and Luxembourg natural gas markets. As part of this objective,
\n
an agreement has been signed between the shareholders that stipulates that Balansys SA
\n
shares may not be encumbered with any guarantees or transferred, unless for the benefit
\n
of another transmission network operator and with the agreement of the other
\n
shareholder.
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n\n

\n\n
The key figures of Balansys are shown in the table below:
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Entity accounted for using the equity method31-12-202431-12-2023
In thousands of \u20ac (*)In thousands of \u20ac (*)
Non-current assets00
Current assets52,52358,340
Equity100100
Non-current liabilities30,20326,167
Current liabilities22,22032,073
Operating revenue125,293148,698
Operating expenses-124,274-147,560
Net financial result-980-1,099
Income tax expenses-39-40
Net profit/loss for the period00
Entities accounted for by the equity method5050
Result of entities accounted for by the equity method 00
\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
(*) Figures before intercompany eliminations, on a 100% basis and subject to approval of
\n
the accounts by the governing bodies and the general assembly of the entity.
\n

\n\n\n\n\n\n\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag258": { "value": "\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Entities accounted for using the equity method
Name of Entity % owner-Core Balance
the Registered officenumbershipbusinessCurrencysheet date
subsidiary
Balansys Rue de Strassen 105Balancing
SA- 50.00%operator\u20ac31 December
L - 2555 Luxembourg
\n\n\n\n
\n
\n

\n\n\n\n\n\n\n
Nature and scope of the restrictions related to the assets and liabilities of
\n
the group
\n
Special rights are attached to the special share of the Belgian State in Fluxys Belgium,
\n
other than the normal rights attached to all other shares. These special rights are
\n
exercised by the Federal Minister in charge of Energy and can be summarised as follows:
\n
\u2022 the right to oppose to all transfers, any assignment as security or change of the
\n
destination of strategic assets of Fluxys Belgium of which the list is set out in an annex
\n
to the royal decree of 16 June 1994, if the Federal Minister in charge of Energy
\n
considers that this operation prejudices the national interests in the area of energy;
\n
\u2022 the right to appoint two representatives of the federal government with a
\n
consultative vote in the Board of Directors and the Strategic Committee of Fluxys
\n
Belgium;
\n
\u2022 the right of the representatives of the federal government, within four business days,
\n
to appeal to the Federal Minister in charge of Energy on the basis of objective, non-
\n
discriminatory and transparent criteria, as defined in the Royal Decree of 5
\n
December 2000, against any decision of the Board of Directors or any advice of the
\n
strategic Committee of Fluxys Belgium (including the investment and business plan
\n
and related budget) which they regard as contrary to the guidelines of the country\u2019s
\n
energy policy, including the government's objectives concerning the country's
\n
energy supply. The appeal is suspensive. If the Federal Minister in charge of Energy
\n
has not cancelled the decision concerned within eight business days after this
\n
appeal, it becomes final;
\n
\u2022 a special voting right in case of deadlock in the General meeting on a matter
\n
concerning the objectives of the federal energy policy.
\n
There are no other significant restrictions that may limit the ability of the group to access
\n
or use its assets and discharge its liabilities. However, it must be noted that the assets of
\n
Flux Re are destined to cover the risk of the company in the scope of its reinsurance
\n
activities. The total assets in the balance sheet of Flux Re came to \u20ac184.2 million as at 31-
\n
12-2024 compared to \u20ac177.8 million as at 2023 year-end.
\n
Balansys SA is a company governed by Luxembourg law in which 50% of shares are held
\n
by Fluxys Belgium SA and 50% by Creos Luxembourg SA. The objective of this company is
\n
to integrate the Belgian and Luxembourg natural gas markets. As part of this objective,
\n
an agreement has been signed between the shareholders that stipulates that Balansys SA
\n
shares may not be encumbered with any guarantees or transferred, unless for the benefit
\n
of another transmission network operator and with the agreement of the other
\n
shareholder.
\n

\n\n\n\n\n\n\n
The key figures of Balansys are shown in the table below:
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Entity accounted for using the equity method31-12-202431-12-2023
In thousands of \u20ac (*)In thousands of \u20ac (*)
Non-current assets00
Current assets52,52358,340
Equity100100
Non-current liabilities30,20326,167
Current liabilities22,22032,073
Operating revenue125,293148,698
Operating expenses-124,274-147,560
Net financial result-980-1,099
Income tax expenses-39-40
Net profit/loss for the period00
Entities accounted for by the equity method5050
Result of entities accounted for by the equity method 00
\n\n\n\n
\n
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\n
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
(*) Figures before intercompany eliminations, on a 100% basis and subject to approval of
\n
the accounts by the governing bodies and the general assembly of the entity.
\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag261": { "value": "\n
Note 4. Income statement and operating segments
\n
Operating segments
\n
Fluxys Belgium group carries out activities in the following operating segments:
\n
transmission, storage, LNG terminalling activities in Belgium and other activities.
\n
The segment information is based on a classification into these operating segments.
\n
Transmission activities comprise all operations subject to the Gas Act related to
\n
transmission of gas and hydrogen in Belgium.
\n
Storage activities comprise all operations subject to the Gas Act related to storage of gas
\n
at Loenhout in Belgium.
\n
Terminalling activities comprise all activities subject to the Gas Act related to the LNG
\n
terminal at Zeebrugge in Belgium..
\n
The segment 'other activities' comprises other services rendered by Fluxys Belgium group
\n
such as the operational support of the IZT and ZPT terminals
\n
3
\n
in Belgium and work for third
\n
parties. On the balance sheet date, CO2 activities are also in this category.
\n
The Fluxys Belgium group operates mainly in Belgium and does not therefore publish
\n
information by geographical sector.
\n
The Chief Operating Decision Maker (CODM) is the CEO.
\n
Basis of accounting relating to transactions between operating segments
\n
Transactions between operating segments mainly relate to capacity reservations by one
\n
segment subject to the Gas Act with another. These transactions are charged at the
\n
same regulatory tariffs as for external clients.
\n

\n\n\n\n\n\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Segment income statement at 31-12-2024 In thousands of \u20ac
Trans-Terminal-Elimination
missionStoragelingOtherbetweenTotal
segments
Operating revenue417,03135,129142,34926,879-12,599608,789
Sales and services to 340,57833,556172,71425,2270572,075
external customers
Transactions with other 9838,4661,4981,652-12,5990
segments
Changes in regulatory 75,470-6,893-31,8630036,714
assets and liabilities
Sales of gas related to
balancing operations and 63,4992,06218,5910084,152
operational needs
Sales of gas related to
balancing of operations 93,9602,29735,68300131,940
and operational needs
Changes in regulatory -30,461-235-17,09200-47,788
liabilities
Other operating income6,4631884,87215,217-6,24920,491
Consumables, merchandise -1,130-2-40-11,8400-13,012
and supplies used
Purchase of gas related to
balancing of operations and -63,508-1,639-6,48800-71,635
operational needs
Miscellaneous goods and -142,316-8,878-40,706-5,91518,781-179,034
services
Employee expenses-98,432-8,186-26,086-9,24067-141,877
Other operating expenses-4,415-569-545-620-5,591
Depreciations-111,885-8,178-54,082-3,3880-177,533
Provisions for risks and charges-381382,7807802,958
Impairment losses6,165-39187-9006,223
Profit/loss from continuing 71,43410,02640,83211,6390133,931
operations
Change in the fair value of -660-66
financial instruments
Financial income29,0693,0797,0546,606045,808
Finance costs-44,940-4,761-17,500-4,8370-72,038
Profit/loss before taxes55,5598,34430,32213,4100107,635
Income tax expenses-25,574
Net profit/loss for the period82,061
Investments in tangible fixed 81,7183,5604,5762,268092,122
assets during the period
\n\n
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\n\n\n\n\n\n\n

\n\n\n\n\n\n\n
The operating revenue of 2024 amounted to \u20ac608,789 thousand, compared with \u20ac592,788
\n
thousand for 2023, an increase of \u20ac16,001 thousand.
\n
Transmission, storage and terminalling services in Belgium are subject to the Gas Act.
\n
Revenue from these services aims to ensure an authorised return on capital invested and
\n
to cover permitted depreciation and the operating expenses related to these services,
\n
while integrating the efficiency efforts to be realised by the network operator. Their
\n
accounting treatment remains identical to that of the 2023 balance sheet date.
\n
Revenue from regulated activities
\n
4
\n
was \u20ac581,910 thousand (which is 95.6% of the total).
\n
This represents an increase of \u20ac12,762 thousand as compared with the same period in
\n
2023.
\n
The increase in revenue from transmission activity in 2024 can be explained by a fall in
\n
capacity sales and auction premiums, more than offset by the use of regulatory liabilities.
\n
Revenue from storage decreased slightly but is compensated by a lower regulatory
\n
liability charge. For the terminalling activity, there is also a decrease in sales, largely due
\n
to fewer sales of spot slots, but this is reinforced by a higher regulatory liability charge
\n
ensuing from the difference in costs with the tariff proposal.
\n
\n
Sales and purchases of gas to cover the operational balancing and operating needs are
\n
down compared with 2023. However, any gains and losses from these transactions are
\n
neutralised by the changes in regulatory liabilities, in accordance with the regulatory
\n
framework.
\n
Following the resolution of a dispute with the Flemish region, a reversal of a provision is
\n
included in the balance sheet in the first half of this financial year, in the \u2018terminalling\u2019
\n
section.
\n
In 2024, new reversals of write-downs were accounted for, amounting to \u20ac6,165 thousand,
\n
in order to align the average price of gas in stock to the market price.
\n
Finance costs remain are increasing at \u20ac72,408 thousand in 2024 compared to \u20ac70,777
\n
thousand in 2023. An increase in interest rates results in higher financial income on cash
\n
investments and cash equivalents.
\n
Income tax expenses are up \u20ac6,336 thousand following an increase in earnings before
\n
tax. Deductions for innovation revenues have been applied based on the estimate
\n
included in the ruling granted by the commission in 2023 for the period from 2022 to 2024.
\n
This tax advantage is, however, fully incorporated into the regulated tariffs.
\n
Net profit for the first half of 2024 is \u20ac82,061 thousand, compared to \u20ac77,423 thousand in
\n
the first half of 2023, an increase of \u20ac4,638 thousand.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
4
\n
After eliminating transactions with other sectors and non-regulated activity
\n

\n\n\n\n\n\n\n

\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Segment income statement at 31-12-2023 In thousands of \u20ac
Trans-Terminal-Elimination
missionStoragelingOtherbetween Total
segments
Operating revenue397,49735,557148,67623,910-12,852592,788
Sales and services to 678,80535,138176,06323,3760913,382
external customers
Transactions with other 9549,8841,480534-12,8520
segments
Changes in regulatory -282,262-9,465-28,86700-320,594
assets and liabilities
Sales of gas related to
balancing operations and 111,5633,25545,94300160,761
operational needs
Sales of gas related to
balancing of operations 116,2722,46464,86100183,597
and operational needs
Changes in regulatory -4,709791-18,91800-22,836
liabilities
Other operating income7,2701375,5316,842-18619,594
Consumables, merchandise -3,467-30-36-5,3620-8,895
and supplies used
Purchase of gas related to
balancing of operations and -111,563-3,255-42,556-150-157,389
operational needs
Miscellaneous goods and -128,314-10,214-46,080-8,22512,988-179,845
services
Employee expenses-95,931-7,438-23,883-8,03850-135,240
Other operating expenses-4,792-607-529-370-5,965
Depreciations-109,068-8,137-48,205-1,4840-166,894
Provisions for risks and charges-518-141-25-610-745
Impairment losses10,970-5446024011,400
Profit/loss from continuing 73,6479,07339,2967,5540129,570
operations
Change in the fair value of 2620262
financial instruments
Financial income23,3082,5784,6197,101037,606
Finance costs-42,074-4,654-18,042-6,0070-70,777
Profit/loss before taxes54,8816,99725,8738,910096,661
Income tax expenses-19,238
Net profit/loss for the period77,423
Investments in tangible fixed 106.2899.12450.4341.8070167.654
assets during the period
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\n\n\n\n\n\n\n

\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag265": { "value": "\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Segment income statement at 31-12-2024 In thousands of \u20ac
Trans-Terminal-Elimination
missionStoragelingOtherbetweenTotal
segments
Operating revenue417,03135,129142,34926,879-12,599608,789
Sales and services to 340,57833,556172,71425,2270572,075
external customers
Transactions with other 9838,4661,4981,652-12,5990
segments
Changes in regulatory 75,470-6,893-31,8630036,714
assets and liabilities
Sales of gas related to
balancing operations and 63,4992,06218,5910084,152
operational needs
Sales of gas related to
balancing of operations 93,9602,29735,68300131,940
and operational needs
Changes in regulatory -30,461-235-17,09200-47,788
liabilities
Other operating income6,4631884,87215,217-6,24920,491
Consumables, merchandise -1,130-2-40-11,8400-13,012
and supplies used
Purchase of gas related to
balancing of operations and -63,508-1,639-6,48800-71,635
operational needs
Miscellaneous goods and -142,316-8,878-40,706-5,91518,781-179,034
services
Employee expenses-98,432-8,186-26,086-9,24067-141,877
Other operating expenses-4,415-569-545-620-5,591
Depreciations-111,885-8,178-54,082-3,3880-177,533
Provisions for risks and charges-381382,7807802,958
Impairment losses6,165-39187-9006,223
Profit/loss from continuing 71,43410,02640,83211,6390133,931
operations
Change in the fair value of -660-66
financial instruments
Financial income29,0693,0797,0546,606045,808
Finance costs-44,940-4,761-17,500-4,8370-72,038
Profit/loss before taxes55,5598,34430,32213,4100107,635
Income tax expenses-25,574
Net profit/loss for the period82,061
Investments in tangible fixed 81,7183,5604,5762,268092,122
assets during the period
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\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Segment income statement at 31-12-2023 In thousands of \u20ac
Trans-Terminal-Elimination
missionStoragelingOtherbetween Total
segments
Operating revenue397,49735,557148,67623,910-12,852592,788
Sales and services to 678,80535,138176,06323,3760913,382
external customers
Transactions with other 9549,8841,480534-12,8520
segments
Changes in regulatory -282,262-9,465-28,86700-320,594
assets and liabilities
Sales of gas related to
balancing operations and 111,5633,25545,94300160,761
operational needs
Sales of gas related to
balancing of operations 116,2722,46464,86100183,597
and operational needs
Changes in regulatory -4,709791-18,91800-22,836
liabilities
Other operating income7,2701375,5316,842-18619,594
Consumables, merchandise -3,467-30-36-5,3620-8,895
and supplies used
Purchase of gas related to
balancing of operations and -111,563-3,255-42,556-150-157,389
operational needs
Miscellaneous goods and -128,314-10,214-46,080-8,22512,988-179,845
services
Employee expenses-95,931-7,438-23,883-8,03850-135,240
Other operating expenses-4,792-607-529-370-5,965
Depreciations-109,068-8,137-48,205-1,4840-166,894
Provisions for risks and charges-518-141-25-610-745
Impairment losses10,970-5446024011,400
Profit/loss from continuing 73,6479,07339,2967,5540129,570
operations
Change in the fair value of 2620262
financial instruments
Financial income23,3082,5784,6197,101037,606
Finance costs-42,074-4,654-18,042-6,0070-70,777
Profit/loss before taxes54,8816,99725,8738,910096,661
Income tax expenses-19,238
Net profit/loss for the period77,423
Investments in tangible fixed 106.2899.12450.4341.8070167.654
assets during the period
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\n\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag187": { "value": "\n

\n\n

\n\n

\n\n
Note 4.1. Operating revenue
\n
Analysis of operating revenue by business segment:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Operating revenueIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Transmission in Belgium4.1.1416.048396.54319.505
Storage in Belgium4.1.126.66325.673990
Terminalling in Belgium4.1.1140.851147.196-6.345
Other operating income4.1.225.22723.3761.851
Total608.789592.78816.001
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\n
Operating revenue in the 2024 financial year amounted to \u20ac608,789 thousand, which
\n
represents an increase of \u20ac16,001 thousand compared with the previous year.
\n
4.1.1
\n
Transmission, storage and terminalling services in Belgium are subject
\n
to the Gas Act.
\n
Revenue from these services aims to ensure an authorised return on capital invested and
\n
to cover the operating expenses related to these services, while integrating the efficiency
\n
efforts to be realised by the network operator, and permitted depreciation.
\n
The bulk of the increase in sales and regulated services relates to transmission services
\n
(\u20ac19,505 thousand). This increase comes chiefly from the increase in costs observed for
\n
this segment. The income invoiced in 2024 was down compared to the exceptional level
\n
in 2023.
\n
Revenue from storage decreased slightly in 2024 compared to the exceptional level in
\n
2023. However, this decrease is compensated by a lower regulatory liability charge in
\n
accordance with the tariff proposal.
\n
For the terminalling activity, there is also a decrease in sales, largely due to lower prices of
\n
spot slots at auctions. Moreover, the regulatory liability charge has been higher because
\n
of the difference in costs
\n
4.1.2. Other operating revenue
\n
Other operating revenue relates mainly to work and services for third parties and the
\n
provision of facilities.
\n

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\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag188": { "value": "\n

\n\n

\n\n
Note 4.1. Operating revenue
\n
Analysis of operating revenue by business segment:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Operating revenueIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Transmission in Belgium4.1.1416.048396.54319.505
Storage in Belgium4.1.126.66325.673990
Terminalling in Belgium4.1.1140.851147.196-6.345
Other operating income4.1.225.22723.3761.851
Total608.789592.78816.001
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Operating revenue in the 2024 financial year amounted to \u20ac608,789 thousand, which
\n
represents an increase of \u20ac16,001 thousand compared with the previous year.
\n
4.1.1
\n
Transmission, storage and terminalling services in Belgium are subject
\n
to the Gas Act.
\n
Revenue from these services aims to ensure an authorised return on capital invested and
\n
to cover the operating expenses related to these services, while integrating the efficiency
\n
efforts to be realised by the network operator, and permitted depreciation.
\n
The bulk of the increase in sales and regulated services relates to transmission services
\n
(\u20ac19,505 thousand). This increase comes chiefly from the increase in costs observed for
\n
this segment. The income invoiced in 2024 was down compared to the exceptional level
\n
in 2023.
\n
Revenue from storage decreased slightly in 2024 compared to the exceptional level in
\n
2023. However, this decrease is compensated by a lower regulatory liability charge in
\n
accordance with the tariff proposal.
\n
For the terminalling activity, there is also a decrease in sales, largely due to lower prices of
\n
spot slots at auctions. Moreover, the regulatory liability charge has been higher because
\n
of the difference in costs
\n
4.1.2. Other operating revenue
\n
Other operating revenue relates mainly to work and services for third parties and the
\n
provision of facilities.
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag189": { "value": "\n

\n\n
Note 4.1. Operating revenue
\n
Analysis of operating revenue by business segment:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Operating revenueIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Transmission in Belgium4.1.1416.048396.54319.505
Storage in Belgium4.1.126.66325.673990
Terminalling in Belgium4.1.1140.851147.196-6.345
Other operating income4.1.225.22723.3761.851
Total608.789592.78816.001
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Operating revenue in the 2024 financial year amounted to \u20ac608,789 thousand, which
\n
represents an increase of \u20ac16,001 thousand compared with the previous year.
\n
4.1.1
\n
Transmission, storage and terminalling services in Belgium are subject
\n
to the Gas Act.
\n
Revenue from these services aims to ensure an authorised return on capital invested and
\n
to cover the operating expenses related to these services, while integrating the efficiency
\n
efforts to be realised by the network operator, and permitted depreciation.
\n
The bulk of the increase in sales and regulated services relates to transmission services
\n
(\u20ac19,505 thousand). This increase comes chiefly from the increase in costs observed for
\n
this segment. The income invoiced in 2024 was down compared to the exceptional level
\n
in 2023.
\n
Revenue from storage decreased slightly in 2024 compared to the exceptional level in
\n
2023. However, this decrease is compensated by a lower regulatory liability charge in
\n
accordance with the tariff proposal.
\n
For the terminalling activity, there is also a decrease in sales, largely due to lower prices of
\n
spot slots at auctions. Moreover, the regulatory liability charge has been higher because
\n
of the difference in costs
\n
4.1.2. Other operating revenue
\n
Other operating revenue relates mainly to work and services for third parties and the
\n
provision of facilities.
\n

\n\n\n\n

\n\n\n\n
Note 4.2. Operating expenses
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Operating expenses excluding depreciations,
In thousands of \u20ac
impairment losses and provisions
Notes31-12-202431-12-2023Change
Consumables, merchandise and 4.2.1-13,012-8,895-4,117
supplies used
Miscellaneous goods and services4.2.2-179,034-179,845811
Employee expenses4.2.3-141,877-135,240-6,637
Other operating expenses4.2.4-5,591-5,965374
Total operating expenses-339,514-329,945-9,569
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
4.2.1. Consumables, merchandise and supplies used
\n
This item mainly includes costs for transport material taken out of inventory for
\n
maintenance and repair projects as well as costs for work carried out on behalf of third
\n
parties.
\n

\n\n\n\n

\n\n
4.2.2. Miscellaneous goods and services
\n
Miscellaneous goods and services are mainly composed of:
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
31-12-202431-12-2023Change
Purchase of equipment -8,312 -10,575 2,263
Rent and rental charges (1) -10,457 -9,492 -965
Maintenance and repair expenses -27,418 -27,785 367
Goods and services supplied to the group -14,176 -20,870 6,694
Third-party remuneration -56,172 -54,705 -1,467
Royalties and contributions -47,101 -41,730 -5,371
Non-personnel related insurance costs -7,573 -7,041 -532
Other miscellaneous goods and services -7,825 -7,647 -178
Total -179,034 -179,845811
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
(1) Amounts that relate mainly to services that do not meet the definition of a lease under IFRS 16.
\n
The cost of miscellaneous goods and services remained stable between 2024 and 2023.
\n
The decrease in goods and services supplied to the group can primarily be explained by
\n
a decrease in the cost of energy compared to 2023 due to lower energy prices and
\n
consumption.
\n
The increase in third-party remuneration to the group and in royalties and contributions is
\n
mainly attributable to an increase in external consultancy and an increase in the royalties
\n
for water capture at the terminal.
\n
The decrease in equipment purchases can chiefly be explained by fewer purchases of
\n
spare parts and fewer miscellaneous operating purchases, such as nitrogen.
\n
Insurance expenses are up following the increase in the premiums for terminal operating
\n
insurance and an increase in the premiums for cyber risk cover due to a higher sum insured.
\n
The increase in rent and rental charges comes from the higher prices of software.
\n

\n\n\n\n

\n\n\n\n

\n\n
4.2.2.1 Auditor remuneration
\n
Other miscellaneous goods and services (see note 4.2.2.) include the total remuneration
\n
paid to the auditor by Fluxys Belgium NV and its consolidated subsidiaries. These fees are
\n
presented below.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Auditor remuneration In thousands of \u20ac
31-12-202431-12-2023Change
Audit fees -401-191-210
Other non-audit services-142-32-110
Total remuneration -543-223-320
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The amount of other (non-audit) services provided by the statutory auditor and persons
\n
professionally related to him are in line with article 3:64 and 65 of the Code of companies
\n
and associates and approved by the Audit Committee in advance. They mainly relate to
\n
ad-hoc and limited assurance attestations.
\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n
4.2.3. Employee expenses
\n
Employee expenses have increased \u20ac6,637 thousand as compared with 2023, as a result
\n
of an increase in the workforce and of indexation.
\n
The average headcount of the Group is up, from 957 in 2023 to 978 in 2024. Expressed in
\n
FTE (full-time equivalents), these figures convert to 944 in 2024 compared to 925 in 2023.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Workforce
Financial yearPreceding financial year
Total number Total number
Total in FTEof staffTotal in FTE
of staff
Average number of employees978944957925.0
Fluxys Belgium924894,7908878.2
Executives 352343,8338329.5
Employees572550,9571548.7
Fluxys LNG5048,64746.3
Executives 76,932.5
Employees4341,74543.8
Flux Re10,510.5
Fluxys hydrogen10,500
Executives 10,500
Employees0000
Headcount at balance sheet date982953968937.1
Fluxys Belgium926898,9920890.6
Executives 360352,6344335.5
Employees566546,3576555.2
Fluxys LNG5251,04746.0
Executives 88,032.9
Employees4443,04443.1
\n\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Flux Re10,510.5
Fluxys hydrogen33,000
Executives 33,000
Employees0000
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n
4.2.4. Other operating expenses
\n
Other operating expenses include property taxes, local taxes, and losses on disposals or
\n
retirements of property, plant and equipment.
\n

\n\n\n\n
4.2.5. Depreciations, Impairment losses and provisions
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Depreciations, impairment losses and provisionsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Depreciations4.2.5.1-177,533-166,894-10,639
Intangible assets-11,053-15,3824,329
Property, plant and equipment-160,376-146,760-13,616
Right of Use Assets-6,104-4,752-1,352
Provisions for risks and charges4.2.5.22,958-7453,703
Impairment losses4.2.5.36,22311,400-5,177
Intangible assets-39-5415
Inventories 6,35211,431-5,079
Trade receivables-9023-113
Total depreciations, impairment -168,352-156,239-12,113
losses and provisions
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
4.2.5.1 Depreciations
\n
Depreciation charges on property, plant and equipment over the period are up by
\n
\u20ac13,616 thousand as compared with the previous financial year, primarily due to the
\n
commissioning of Desteldonk \u2013 Opwijk, and the new Open Rack Vaporizers at the
\n
terminal and the accelerated depreciation of the company headquarters in view of the
\n
ongoing renovation.
\n
The completion of the amortisation of the customer portfolio in 2023 largely explains the
\n
decrease of \u20ac4,329 thousand in 2024 in amortisation of intangible assets.
\n
\n
4.2.5.2 Provisions for risks and charges
\n
In 2024, the decrease in provisions comes from the cancellation of a provision for the
\n
terminal following the resolution of a dispute with the Flemish region.
\n
4.2.5.3 Impairment losses
\n
In 2024, new reversals of write-downs were accounted for, amounting to \u20ac6,165
\n
thousand, in order to align the average price of gas in stock to the market price.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag190": { "value": "\n
Note 4.1. Operating revenue
\n
Analysis of operating revenue by business segment:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Operating revenueIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Transmission in Belgium4.1.1416.048396.54319.505
Storage in Belgium4.1.126.66325.673990
Terminalling in Belgium4.1.1140.851147.196-6.345
Other operating income4.1.225.22723.3761.851
Total608.789592.78816.001
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Operating revenue in the 2024 financial year amounted to \u20ac608,789 thousand, which
\n
represents an increase of \u20ac16,001 thousand compared with the previous year.
\n
4.1.1
\n
Transmission, storage and terminalling services in Belgium are subject
\n
to the Gas Act.
\n
Revenue from these services aims to ensure an authorised return on capital invested and
\n
to cover the operating expenses related to these services, while integrating the efficiency
\n
efforts to be realised by the network operator, and permitted depreciation.
\n
The bulk of the increase in sales and regulated services relates to transmission services
\n
(\u20ac19,505 thousand). This increase comes chiefly from the increase in costs observed for
\n
this segment. The income invoiced in 2024 was down compared to the exceptional level
\n
in 2023.
\n
Revenue from storage decreased slightly in 2024 compared to the exceptional level in
\n
2023. However, this decrease is compensated by a lower regulatory liability charge in
\n
accordance with the tariff proposal.
\n
For the terminalling activity, there is also a decrease in sales, largely due to lower prices of
\n
spot slots at auctions. Moreover, the regulatory liability charge has been higher because
\n
of the difference in costs
\n
4.1.2. Other operating revenue
\n
Other operating revenue relates mainly to work and services for third parties and the
\n
provision of facilities.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag191": { "value": "\n

\n\n

\n\n
Note 4.2. Operating expenses
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Operating expenses excluding depreciations,
In thousands of \u20ac
impairment losses and provisions
Notes31-12-202431-12-2023Change
Consumables, merchandise and 4.2.1-13,012-8,895-4,117
supplies used
Miscellaneous goods and services4.2.2-179,034-179,845811
Employee expenses4.2.3-141,877-135,240-6,637
Other operating expenses4.2.4-5,591-5,965374
Total operating expenses-339,514-329,945-9,569
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
4.2.1. Consumables, merchandise and supplies used
\n
This item mainly includes costs for transport material taken out of inventory for
\n
maintenance and repair projects as well as costs for work carried out on behalf of third
\n
parties.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n

\n\n
4.2.2. Miscellaneous goods and services
\n
Miscellaneous goods and services are mainly composed of:
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
31-12-202431-12-2023Change
Purchase of equipment -8,312 -10,575 2,263
Rent and rental charges (1) -10,457 -9,492 -965
Maintenance and repair expenses -27,418 -27,785 367
Goods and services supplied to the group -14,176 -20,870 6,694
Third-party remuneration -56,172 -54,705 -1,467
Royalties and contributions -47,101 -41,730 -5,371
Non-personnel related insurance costs -7,573 -7,041 -532
Other miscellaneous goods and services -7,825 -7,647 -178
Total -179,034 -179,845811
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
(1) Amounts that relate mainly to services that do not meet the definition of a lease under IFRS 16.
\n
The cost of miscellaneous goods and services remained stable between 2024 and 2023.
\n
The decrease in goods and services supplied to the group can primarily be explained by
\n
a decrease in the cost of energy compared to 2023 due to lower energy prices and
\n
consumption.
\n
The increase in third-party remuneration to the group and in royalties and contributions is
\n
mainly attributable to an increase in external consultancy and an increase in the royalties
\n
for water capture at the terminal.
\n
The decrease in equipment purchases can chiefly be explained by fewer purchases of
\n
spare parts and fewer miscellaneous operating purchases, such as nitrogen.
\n
Insurance expenses are up following the increase in the premiums for terminal operating
\n
insurance and an increase in the premiums for cyber risk cover due to a higher sum insured.
\n
The increase in rent and rental charges comes from the higher prices of software.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n

\n\n
4.2.2.1 Auditor remuneration
\n
Other miscellaneous goods and services (see note 4.2.2.) include the total remuneration
\n
paid to the auditor by Fluxys Belgium NV and its consolidated subsidiaries. These fees are
\n
presented below.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Auditor remuneration In thousands of \u20ac
31-12-202431-12-2023Change
Audit fees -401-191-210
Other non-audit services-142-32-110
Total remuneration -543-223-320
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The amount of other (non-audit) services provided by the statutory auditor and persons
\n
professionally related to him are in line with article 3:64 and 65 of the Code of companies
\n
and associates and approved by the Audit Committee in advance. They mainly relate to
\n
ad-hoc and limited assurance attestations.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n

\n\n

\n\n
4.2.3. Employee expenses
\n
Employee expenses have increased \u20ac6,637 thousand as compared with 2023, as a result
\n
of an increase in the workforce and of indexation.
\n
The average headcount of the Group is up, from 957 in 2023 to 978 in 2024. Expressed in
\n
FTE (full-time equivalents), these figures convert to 944 in 2024 compared to 925 in 2023.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Workforce
Financial yearPreceding financial year
Total number Total number
Total in FTEof staffTotal in FTE
of staff
Average number of employees978944957925.0
Fluxys Belgium924894,7908878.2
Executives 352343,8338329.5
Employees572550,9571548.7
Fluxys LNG5048,64746.3
Executives 76,932.5
Employees4341,74543.8
Flux Re10,510.5
Fluxys hydrogen10,500
Executives 10,500
Employees0000
Headcount at balance sheet date982953968937.1
Fluxys Belgium926898,9920890.6
Executives 360352,6344335.5
Employees566546,3576555.2
Fluxys LNG5251,04746.0
Executives 88,032.9
Employees4443,04443.1
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\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Flux Re10,510.5
Fluxys hydrogen33,000
Executives 33,000
Employees0000
\n\n
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\n\n

\n\n

\n\n
4.2.4. Other operating expenses
\n
Other operating expenses include property taxes, local taxes, and losses on disposals or
\n
retirements of property, plant and equipment.
\n

\n\n\n\n
4.2.5. Depreciations, Impairment losses and provisions
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Depreciations, impairment losses and provisionsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Depreciations4.2.5.1-177,533-166,894-10,639
Intangible assets-11,053-15,3824,329
Property, plant and equipment-160,376-146,760-13,616
Right of Use Assets-6,104-4,752-1,352
Provisions for risks and charges4.2.5.22,958-7453,703
Impairment losses4.2.5.36,22311,400-5,177
Intangible assets-39-5415
Inventories 6,35211,431-5,079
Trade receivables-9023-113
Total depreciations, impairment -168,352-156,239-12,113
losses and provisions
\n\n
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\n
\n
\n
4.2.5.1 Depreciations
\n
Depreciation charges on property, plant and equipment over the period are up by
\n
\u20ac13,616 thousand as compared with the previous financial year, primarily due to the
\n
commissioning of Desteldonk \u2013 Opwijk, and the new Open Rack Vaporizers at the
\n
terminal and the accelerated depreciation of the company headquarters in view of the
\n
ongoing renovation.
\n
The completion of the amortisation of the customer portfolio in 2023 largely explains the
\n
decrease of \u20ac4,329 thousand in 2024 in amortisation of intangible assets.
\n
\n
4.2.5.2 Provisions for risks and charges
\n
In 2024, the decrease in provisions comes from the cancellation of a provision for the
\n
terminal following the resolution of a dispute with the Flemish region.
\n
4.2.5.3 Impairment losses
\n
In 2024, new reversals of write-downs were accounted for, amounting to \u20ac6,165
\n
thousand, in order to align the average price of gas in stock to the market price.
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag192": { "value": "\n

\n\n
Note 4.2. Operating expenses
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Operating expenses excluding depreciations,
In thousands of \u20ac
impairment losses and provisions
Notes31-12-202431-12-2023Change
Consumables, merchandise and 4.2.1-13,012-8,895-4,117
supplies used
Miscellaneous goods and services4.2.2-179,034-179,845811
Employee expenses4.2.3-141,877-135,240-6,637
Other operating expenses4.2.4-5,591-5,965374
Total operating expenses-339,514-329,945-9,569
\n\n
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\n
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\n
\n
4.2.1. Consumables, merchandise and supplies used
\n
This item mainly includes costs for transport material taken out of inventory for
\n
maintenance and repair projects as well as costs for work carried out on behalf of third
\n
parties.
\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n
4.2.2. Miscellaneous goods and services
\n
Miscellaneous goods and services are mainly composed of:
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
31-12-202431-12-2023Change
Purchase of equipment -8,312 -10,575 2,263
Rent and rental charges (1) -10,457 -9,492 -965
Maintenance and repair expenses -27,418 -27,785 367
Goods and services supplied to the group -14,176 -20,870 6,694
Third-party remuneration -56,172 -54,705 -1,467
Royalties and contributions -47,101 -41,730 -5,371
Non-personnel related insurance costs -7,573 -7,041 -532
Other miscellaneous goods and services -7,825 -7,647 -178
Total -179,034 -179,845811
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
(1) Amounts that relate mainly to services that do not meet the definition of a lease under IFRS 16.
\n
The cost of miscellaneous goods and services remained stable between 2024 and 2023.
\n
The decrease in goods and services supplied to the group can primarily be explained by
\n
a decrease in the cost of energy compared to 2023 due to lower energy prices and
\n
consumption.
\n
The increase in third-party remuneration to the group and in royalties and contributions is
\n
mainly attributable to an increase in external consultancy and an increase in the royalties
\n
for water capture at the terminal.
\n
The decrease in equipment purchases can chiefly be explained by fewer purchases of
\n
spare parts and fewer miscellaneous operating purchases, such as nitrogen.
\n
Insurance expenses are up following the increase in the premiums for terminal operating
\n
insurance and an increase in the premiums for cyber risk cover due to a higher sum insured.
\n
The increase in rent and rental charges comes from the higher prices of software.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n
4.2.2.1 Auditor remuneration
\n
Other miscellaneous goods and services (see note 4.2.2.) include the total remuneration
\n
paid to the auditor by Fluxys Belgium NV and its consolidated subsidiaries. These fees are
\n
presented below.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Auditor remuneration In thousands of \u20ac
31-12-202431-12-2023Change
Audit fees -401-191-210
Other non-audit services-142-32-110
Total remuneration -543-223-320
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The amount of other (non-audit) services provided by the statutory auditor and persons
\n
professionally related to him are in line with article 3:64 and 65 of the Code of companies
\n
and associates and approved by the Audit Committee in advance. They mainly relate to
\n
ad-hoc and limited assurance attestations.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n

\n\n
4.2.3. Employee expenses
\n
Employee expenses have increased \u20ac6,637 thousand as compared with 2023, as a result
\n
of an increase in the workforce and of indexation.
\n
The average headcount of the Group is up, from 957 in 2023 to 978 in 2024. Expressed in
\n
FTE (full-time equivalents), these figures convert to 944 in 2024 compared to 925 in 2023.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Workforce
Financial yearPreceding financial year
Total number Total number
Total in FTEof staffTotal in FTE
of staff
Average number of employees978944957925.0
Fluxys Belgium924894,7908878.2
Executives 352343,8338329.5
Employees572550,9571548.7
Fluxys LNG5048,64746.3
Executives 76,932.5
Employees4341,74543.8
Flux Re10,510.5
Fluxys hydrogen10,500
Executives 10,500
Employees0000
Headcount at balance sheet date982953968937.1
Fluxys Belgium926898,9920890.6
Executives 360352,6344335.5
Employees566546,3576555.2
Fluxys LNG5251,04746.0
Executives 88,032.9
Employees4443,04443.1
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\n\n\n\n

\n\n

\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Flux Re10,510.5
Fluxys hydrogen33,000
Executives 33,000
Employees0000
\n\n
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\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n
4.2.4. Other operating expenses
\n
Other operating expenses include property taxes, local taxes, and losses on disposals or
\n
retirements of property, plant and equipment.
\n

\n\n\n\n
4.2.5. Depreciations, Impairment losses and provisions
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Depreciations, impairment losses and provisionsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Depreciations4.2.5.1-177,533-166,894-10,639
Intangible assets-11,053-15,3824,329
Property, plant and equipment-160,376-146,760-13,616
Right of Use Assets-6,104-4,752-1,352
Provisions for risks and charges4.2.5.22,958-7453,703
Impairment losses4.2.5.36,22311,400-5,177
Intangible assets-39-5415
Inventories 6,35211,431-5,079
Trade receivables-9023-113
Total depreciations, impairment -168,352-156,239-12,113
losses and provisions
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
4.2.5.1 Depreciations
\n
Depreciation charges on property, plant and equipment over the period are up by
\n
\u20ac13,616 thousand as compared with the previous financial year, primarily due to the
\n
commissioning of Desteldonk \u2013 Opwijk, and the new Open Rack Vaporizers at the
\n
terminal and the accelerated depreciation of the company headquarters in view of the
\n
ongoing renovation.
\n
The completion of the amortisation of the customer portfolio in 2023 largely explains the
\n
decrease of \u20ac4,329 thousand in 2024 in amortisation of intangible assets.
\n
\n
4.2.5.2 Provisions for risks and charges
\n
In 2024, the decrease in provisions comes from the cancellation of a provision for the
\n
terminal following the resolution of a dispute with the Flemish region.
\n
4.2.5.3 Impairment losses
\n
In 2024, new reversals of write-downs were accounted for, amounting to \u20ac6,165
\n
thousand, in order to align the average price of gas in stock to the market price.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag197": { "value": "\n
4.2.2. Miscellaneous goods and services
\n
Miscellaneous goods and services are mainly composed of:
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
31-12-202431-12-2023Change
Purchase of equipment -8,312 -10,575 2,263
Rent and rental charges (1) -10,457 -9,492 -965
Maintenance and repair expenses -27,418 -27,785 367
Goods and services supplied to the group -14,176 -20,870 6,694
Third-party remuneration -56,172 -54,705 -1,467
Royalties and contributions -47,101 -41,730 -5,371
Non-personnel related insurance costs -7,573 -7,041 -532
Other miscellaneous goods and services -7,825 -7,647 -178
Total -179,034 -179,845811
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
(1) Amounts that relate mainly to services that do not meet the definition of a lease under IFRS 16.
\n
The cost of miscellaneous goods and services remained stable between 2024 and 2023.
\n
The decrease in goods and services supplied to the group can primarily be explained by
\n
a decrease in the cost of energy compared to 2023 due to lower energy prices and
\n
consumption.
\n
The increase in third-party remuneration to the group and in royalties and contributions is
\n
mainly attributable to an increase in external consultancy and an increase in the royalties
\n
for water capture at the terminal.
\n
The decrease in equipment purchases can chiefly be explained by fewer purchases of
\n
spare parts and fewer miscellaneous operating purchases, such as nitrogen.
\n
Insurance expenses are up following the increase in the premiums for terminal operating
\n
insurance and an increase in the premiums for cyber risk cover due to a higher sum insured.
\n
The increase in rent and rental charges comes from the higher prices of software.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag201": { "value": "\n
4.2.2.1 Auditor remuneration
\n
Other miscellaneous goods and services (see note 4.2.2.) include the total remuneration
\n
paid to the auditor by Fluxys Belgium NV and its consolidated subsidiaries. These fees are
\n
presented below.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Auditor remuneration In thousands of \u20ac
31-12-202431-12-2023Change
Audit fees -401-191-210
Other non-audit services-142-32-110
Total remuneration -543-223-320
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The amount of other (non-audit) services provided by the statutory auditor and persons
\n
professionally related to him are in line with article 3:64 and 65 of the Code of companies
\n
and associates and approved by the Audit Committee in advance. They mainly relate to
\n
ad-hoc and limited assurance attestations.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag205": { "value": "\n

\n\n
4.2.3. Employee expenses
\n
Employee expenses have increased \u20ac6,637 thousand as compared with 2023, as a result
\n
of an increase in the workforce and of indexation.
\n
The average headcount of the Group is up, from 957 in 2023 to 978 in 2024. Expressed in
\n
FTE (full-time equivalents), these figures convert to 944 in 2024 compared to 925 in 2023.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Workforce
Financial yearPreceding financial year
Total number Total number
Total in FTEof staffTotal in FTE
of staff
Average number of employees978944957925.0
Fluxys Belgium924894,7908878.2
Executives 352343,8338329.5
Employees572550,9571548.7
Fluxys LNG5048,64746.3
Executives 76,932.5
Employees4341,74543.8
Flux Re10,510.5
Fluxys hydrogen10,500
Executives 10,500
Employees0000
Headcount at balance sheet date982953968937.1
Fluxys Belgium926898,9920890.6
Executives 360352,6344335.5
Employees566546,3576555.2
Fluxys LNG5251,04746.0
Executives 88,032.9
Employees4443,04443.1
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Flux Re10,510.5
Fluxys hydrogen33,000
Executives 33,000
Employees0000
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\n\n\n\n
4.2.4. Other operating expenses
\n
Other operating expenses include property taxes, local taxes, and losses on disposals or
\n
retirements of property, plant and equipment.
\n

\n\n\n\n
5.13.1 Provisions for employee benefits
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Provisions for employee benefitsIn thousands of \u20ac
Provisions at 31-12-202351,963
Additions8,939
Use-11,402
Release0
Unwinding of the discount8,752
Actuarial gains/losses recognised in the profit/loss (seniority -1,192
bonuses)
Expected return on plan assets-6,239
Actuarial gains/losses recognised in equity-7,925
Reclassification to the assets 6,175
Provisions at 31-12-2024, of which:49,072
Non-current provisions45,779
Current provisions3,293
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Expenses relating to the effects of discounts are presented in the group financial results as
\n
an offset against the expected return on plan assets. The expected return on plan assets
\n
is higher than the discount rate used to determine actuarial debt.
\n
The change in provisions for employee benefits is largely linked to
\n
\u2022 The increase in liabilities, due mainly to the cost of services and of interest, which
\n
are higher than the pension settlements.
\n
\u2022 The increase in plan assets mainly due to the high returns and to the increase in
\n
defined benefit plan contribution payments.
\n
See Note 5.14.
\n

\n\n\n\n\n\n
Note 5.14. Provisions for employee benefits
\n
Description of the principal retirement schemes and related benefits
\n
In Belgium collective agreements regulate the rights of entity employees in the electricity
\n
and gas industries.
\n
Defined benefit pension plans
\n
These agreements cover 'salary scale' personnel recruited before 1 June 2002 and
\n
management personnel recruited before 1 May 1999 allowing affiliates to benefit from a
\n
capital calculated based on a formula that takes account of their final annual salary and
\n
the number of years of service when they retire. These are called \u2018defined benefit
\n
pension plans\u2019.
\n
Obligations under these defined benefit pension plans are funded through a number of
\n
pension funds for the electricity and gas industries and through insurance companies.
\n
Employees and employers contribute to these pension plans. The employer\u2019s contribution
\n
is determined annually on the basis of an actuarial report. This is to ensure that the
\n
minimum legal funding requirements have been met and that the long-term funding of
\n
the benefits is assured.
\n
Description of the main actuarial risks
\n
The group is exposed, in connection with its defined benefit pension plans, to risks related
\n
to actuarial assumptions concerning investments, interest rates, life expectancy and
\n
salary development.
\n
The present value of defined benefit obligations is determined using a discount rate
\n
based on high-quality bonds.
\n
The assumptions concerning salary increases, inflation, personnel movements and
\n
expected average retirement age are defined based on historic entity statistics. The
\n
mortality tables used are those published by the IABE (Institute of Actuaries in Belgium).
\n
\n
At the end of 2024, the defined benefit pension plans have surplus plan assets of \u20ac18,618
\n
thousand (2023: \u20ac12,443 thousand) compared with the actuarial liability on estimated
\n
liabilities of the group. The amount was therefore transferred to the assets in the balance
\n
sheet under 'Other non-current assets' (note 5.5) and 'Other current assets' (note 5.9.1).
\n

\n\n\n\n\n\n
The financing policy was amended in 2018 to ensure that surpluses are recovered over
\n
the duration of the pension plans. In addition, transfers between different pension plans
\n
are possible.
\n
\n
Defined contribution pension plans with guaranteed minimum return
\n
In Belgium, \u2018Salary scale\u2019 personnel recruited after 1 June 2002 and management staff
\n
recruited after 1 May 1999 as well as the members of the management benefit from
\n
defined contribution pension plans.
\n
The pension plans are financed by contributions from employees and employers, the
\n
latter corresponding to a multiple of the contributions from employees. Obligations under
\n
these defined contribution pension plans are funded through a number of pension funds
\n
for the electricity and gas industries and through insurance companies.
\n
The assets of the pension funds are allocated among the various categories of the
\n
following risks:
\n
\u2022 Low risk: bonds in the euro zone and/or high-quality bonds.
\n
\u2022 Medium risk: risk diversification between bonds, convertible bonds, real-estate
\n
and equity instruments.
\n
\u2022 High risk: equity instruments, real estate, etc.
\n
\u2022 Dynamic Asset Allocation: rapid adjustment of the portfolio structure in case of
\n
specific events in order to limit losses in periods of stress.
\n
Belgian law requires that the employer guarantees a minimum return for defined
\n
contribution plans. These minimum returns vary based on the market rates.
\n
For the minimum returns guaranteed by the employer, the following elements apply:
\n
\u2022 For contributions paid up until 31-12-2015, the minimum return of 3.25% for
\n
employer contributions and 3.75% for employee contributions applies up to that
\n
date.
\n
\u2022 For contributions paid from 01-01-2025, the minimum guaranteed return went
\n
from 1.75% to 2.5%.
\n
\u2022 The accounting method used by the group to value these \u2018defined contribution
\n
pension plans, with a guaranteed minimum return\u2019, is identical to the method
\n
used for \u2018defined benefit plans\u2019 (see Note 2.11).
\n
For certain defined contribution plans, the contributions increase depending on the
\n
seniority in the Group (referred to as \u2018backloaded\u2019). For these plans, the contributions are
\n
distributed uniformly over time.
\n

\n\n\n\n\n\n
Description of the main risks
\n
Defined contribution plans expose the employer to the risk of a minimum return on
\n
pension fund assets that do not offer a sufficient guaranteed return.
\n
Other long-term employee benefits
\n
Fluxys Belgium group also has early pension schemes, other post-employment benefits
\n
such as reimbursement of medical expenses and price subsidies, as well as other long-
\n
term benefits (seniority bonuses). Not all of these benefits are funded.
\n
\n
Funding status of the employee benefits
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other **
2024202320242023
Present value of funded obligations-214,252-206,978-34,070-35,643
Fair value of plan assets221,453205,50000
Funding status of plans7,201-1,478-34,070-35,643
Effect of the asset ceiling5-3,586-2,39800
Other0000
Net employee benefit liability3,615-3,876-34,070-35,643
Of which assets18,61812,44300
Of which liabilities-15,002-16,319-34,070-35,643
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* Pensions also include non-prefinanced early-retirement obligations. They also include,
\n
since 2018, contributions paid to cover pension schemes with a profile that takes into
\n
account seniority.
\n
** The item \u2018Other\u2019 includes seniority bonuses paid over the course of the career as well
\n
as other post-employment benefits (reimbursement of medical expenses and price
\n
subsidies (discount on energy costs)).
\n
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\n
5
\n
Applicable to a limited number of plans where the plan asset surplus is not transferable
\n
to other plans.
\n

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Movements in the present value of obligations
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other **
2024202320242023
At the start of the period-206,978-194,397-35,643-32,840
Service costs-8,168-8,682-772-743
Early retirement costs0000
Financial loss (-) / profit (+)-7,673-7,273-1,080-1,225
Participant\u2019s contributions-969-81100
Change in demographic 783-385537-23
assumptions
Change in financial assumptions5842,379285-864
Change from experience -158-6,678870-1,993
adjustments
Past service costs0000
Benefits paid8,3278,8691,7332,045
Reclassifications0000
Other-214,252-206,978-34,070-35,643
At the end of the period-206,978-194,397-35,643-32,840
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Movements in the fair value of plan assets
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other **
2024202320242023
At the start of the period205,500205,65100
Interest income6,3147,08800
Return on plan assets (excluding net 9,4399,27800
interest income)
Employer\u2019s contributions9,6705,4501,7332,045
Participants\u2019 contributions96981100
Benefits paid-8,327-8,869-1,733-2,045
Change in financial assumptions-2,112-13,90900
Other221,453205,50000
At the end of the period15,75316,36600
Actual return on plan assets205,500205,65100
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The return on pension plan assets in 2024 remains stable compared to 2023.
\n

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Costs recognised in profit or loss
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other **
2024202320242023
Cost
Service costs-8,168-8,682-772-743
Early retirement costs0000
Past service costs0000
Actuarial gains/(losses) on other
1,192-1,19900
long-term benefits
Net interest on net liabilities/(assets)
Interest expense on obligations-7,672-7,272-1,080-1,225
Interest income on plan assets6,3157,08800
Costs recognised in profit or loss-8,333-10,065-1,852-1,968
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Actuarial losses (gains) recognised in other comprehensive income
\n
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In thousands of \u20acPensions *Other**
2024202320242023
Change in demographic assumptions660-410424-23
Change in financial assumptions-60-10,306-121-864
Change from experience adjustments-500-6,678766-1,993
Effect of the asset ceiling-1,121-2,39800
Return on plan assets (excluding net interest 7,7569,2781220
income)
Actuarial losses (gains) recognised in other 6,735-10,5141,190-2,880
comprehensive income
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Allocation of obligation by type of participant to the plan
\n
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In thousands of \u20ac20242023
Active plan participants-199,310-196,014
Non-active participants with deferred benefits-26,809-23,535
Retirees and beneficiaries-22,203-23,072
Total-248,322-242,621
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Allocation of obligation by type of benefit
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20ac20242023
Retirement and death benefits-214,252-206,978
Other post-employment benefits (medical expenses -26,122-26,748
and price subsidies)
Seniority bonuses-7,948-8,895
Total-248,322-242,621
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Main actuarial assumptions used
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
20242023
Discount rate between 10 to 12 years2.99%3.03%
Discount rate between 13 to 19 years3.23%3.24%
Discount rate over 19 years3.26%3.25%
Expected average salary increase2.24%2.04%
Expected inflation2.00%2.03%
Expected increase in health expenses 3.00%3.03%
Expected increase of price subsidies 2.00%2.03%
Average assumed retirement age63(BAR) / 63(BAR) / 65(CAD)
65(CAD)
Mortality tablesIABE prospectiveIABE prospective
Life expectancy in years:
For a person aged 65 at the balance sheet date:
- Male2120
- Female2424
For a person aged 65 in 20 years:
- Male2322
- Female2626
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The fair value of plan assets is distributed based on the following major
\n
categories
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
20242023
Listed investments92.24%94.63%
Shares - eurozone12.05%8.30%
Shares - outside eurozone13.10%19.78%
Government bonds - eurozone5.06%1.99%
Other bonds - eurozone33.09%29.30%
Other bonds - outside eurozone28.93%35.26%
Non-listed investments7.76%5.37%
Insurance contracts0.00%0.00%
Real estate1.82%1.63%
Cash and cash equivalents0.25%2.47%
Other5.70%1.27%
Total (in %)100.00%100.00%
Total (in thousands of \u20ac) 221,453205,500
\n\n\n\n
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\n\n\n\n\n\n
Sensitivity analysis
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Impact on obligations In thousands of \u20ac
Increase (-) / Decrease (+)
Increase in discount rate (0.25%)3,685
Average salary increase - Excluding inflation (0.1%)-1,362
Increase in inflation rate (0.25%)-3,320
Increase in healthcare benefits (0.01%)-26
Increase in price subsidies (0.5%)-837
Increase in life expectancy of retirees (1 year)-778
\n\n\n\n
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Average weighted duration of obligations
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
20242023
Average weighted duration of defined benefit obligations78
Average weighted duration of other post-employment obligations1615
\n\n\n\n
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Expected contribution to pay for employee benefits relating to extra-
\n
statutory pensions
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20ac
Expected contribution for 2024 (for all extra-
statutory pensions and other obligations, 11,028
listed above)
\n\n\n\n
\n
\n
\n
\n
The contributions to be paid are function of the payroll of the population concerned.
\n
\n

\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag206": { "value": "\n
4.2.3. Employee expenses
\n
Employee expenses have increased \u20ac6,637 thousand as compared with 2023, as a result
\n
of an increase in the workforce and of indexation.
\n
The average headcount of the Group is up, from 957 in 2023 to 978 in 2024. Expressed in
\n
FTE (full-time equivalents), these figures convert to 944 in 2024 compared to 925 in 2023.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Workforce
Financial yearPreceding financial year
Total number Total number
Total in FTEof staffTotal in FTE
of staff
Average number of employees978944957925.0
Fluxys Belgium924894,7908878.2
Executives 352343,8338329.5
Employees572550,9571548.7
Fluxys LNG5048,64746.3
Executives 76,932.5
Employees4341,74543.8
Flux Re10,510.5
Fluxys hydrogen10,500
Executives 10,500
Employees0000
Headcount at balance sheet date982953968937.1
Fluxys Belgium926898,9920890.6
Executives 360352,6344335.5
Employees566546,3576555.2
Fluxys LNG5251,04746.0
Executives 88,032.9
Employees4443,04443.1
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Flux Re10,510.5
Fluxys hydrogen33,000
Executives 33,000
Employees0000
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\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag216": { "value": "\n

\n\n

\n\n

\n\n
Note 4.3. Financial income
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Financial incomeIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Dividends from unconsolidated entities000
Financial income from leasing contracts4.3.1039-39
Interest income on investments and 4.3.242,17432,4879,687
cash equivalents
Other interest income4.3.23,2784,202-924
Unwinding of discounts on provisions4.4.2000
Other financial income356878-522
Total45,80837,6068,202
\n\n
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\n
\n
\n
4.3.1. Financial income from leasing contracts
\n
Financial income from leasing contracts relates to the Interconnector Zeebrugge Terminal
\n
(IZT) facilities. This came to an end in 2023.
\n
\n
4.3.2. Interest on investments and cash equivalents
\n
Interest on investments and cash equivalents mainly come from investments recognised
\n
at amortised cost in accordance with IFRS 9. The amount of this interest is up as
\n
compared with 2023, following the increase in interest rates. This has a limited impact on
\n
profit/loss because of the regulatory framework.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag217": { "value": "\n

\n\n

\n\n
Note 4.3. Financial income
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Financial incomeIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Dividends from unconsolidated entities000
Financial income from leasing contracts4.3.1039-39
Interest income on investments and 4.3.242,17432,4879,687
cash equivalents
Other interest income4.3.23,2784,202-924
Unwinding of discounts on provisions4.4.2000
Other financial income356878-522
Total45,80837,6068,202
\n\n
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\n
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\n
\n
\n
\n
\n
\n
4.3.1. Financial income from leasing contracts
\n
Financial income from leasing contracts relates to the Interconnector Zeebrugge Terminal
\n
(IZT) facilities. This came to an end in 2023.
\n
\n
4.3.2. Interest on investments and cash equivalents
\n
Interest on investments and cash equivalents mainly come from investments recognised
\n
at amortised cost in accordance with IFRS 9. The amount of this interest is up as
\n
compared with 2023, following the increase in interest rates. This has a limited impact on
\n
profit/loss because of the regulatory framework.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n
Note 4.4. Finance costs
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Finance costsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Borrowing interest costs4.4.1-69,311-65,909-3,402
Unwinding of discounts on provisions4.4.2-1,233-2,5571,324
Interest charges on leasing contracts-927-827-100
Other finance costs-567-1,484917
Total-72,038-70,777-1261
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\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n
4.4.1. Borrowing interest costs
\n
Borrowing interest costs primarily include interest on the loans from the European
\n
Investment Bank and Fluxys, on bonds and on regulatory liabilities. The increase observed
\n
in 2024 can be explained by the higher level of regulatory liabilities and the increase in
\n
interest rates. This has a limited impact on profit/loss because of the regulatory
\n
framework.
\n
\n
4.4.2. Unwinding of discounts on provisions
\n
This item almost exclusively concerns employee benefits that are recognised and valued
\n
in accordance with IAS 19 and includes, apart from the unwinding of discounts on
\n
provisions, returns from associated assets, and actuarial gains and losses recognised in
\n
profit/loss. The change is mainly associated with a decrease in the discount rates.
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag218": { "value": "\n

\n\n
Note 4.3. Financial income
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Financial incomeIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Dividends from unconsolidated entities000
Financial income from leasing contracts4.3.1039-39
Interest income on investments and 4.3.242,17432,4879,687
cash equivalents
Other interest income4.3.23,2784,202-924
Unwinding of discounts on provisions4.4.2000
Other financial income356878-522
Total45,80837,6068,202
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4.3.1. Financial income from leasing contracts
\n
Financial income from leasing contracts relates to the Interconnector Zeebrugge Terminal
\n
(IZT) facilities. This came to an end in 2023.
\n
\n
4.3.2. Interest on investments and cash equivalents
\n
Interest on investments and cash equivalents mainly come from investments recognised
\n
at amortised cost in accordance with IFRS 9. The amount of this interest is up as
\n
compared with 2023, following the increase in interest rates. This has a limited impact on
\n
profit/loss because of the regulatory framework.
\n

\n\n\n\n

\n\n\n\n

\n\n
Note 4.4. Finance costs
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Finance costsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Borrowing interest costs4.4.1-69,311-65,909-3,402
Unwinding of discounts on provisions4.4.2-1,233-2,5571,324
Interest charges on leasing contracts-927-827-100
Other finance costs-567-1,484917
Total-72,038-70,777-1261
\n\n
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\n\n\n\n

\n\n\n\n

\n\n
4.4.1. Borrowing interest costs
\n
Borrowing interest costs primarily include interest on the loans from the European
\n
Investment Bank and Fluxys, on bonds and on regulatory liabilities. The increase observed
\n
in 2024 can be explained by the higher level of regulatory liabilities and the increase in
\n
interest rates. This has a limited impact on profit/loss because of the regulatory
\n
framework.
\n
\n
4.4.2. Unwinding of discounts on provisions
\n
This item almost exclusively concerns employee benefits that are recognised and valued
\n
in accordance with IAS 19 and includes, apart from the unwinding of discounts on
\n
provisions, returns from associated assets, and actuarial gains and losses recognised in
\n
profit/loss. The change is mainly associated with a decrease in the discount rates.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag219": { "value": "\n
Note 4.3. Financial income
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Financial incomeIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Dividends from unconsolidated entities000
Financial income from leasing contracts4.3.1039-39
Interest income on investments and 4.3.242,17432,4879,687
cash equivalents
Other interest income4.3.23,2784,202-924
Unwinding of discounts on provisions4.4.2000
Other financial income356878-522
Total45,80837,6068,202
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\n
4.3.1. Financial income from leasing contracts
\n
Financial income from leasing contracts relates to the Interconnector Zeebrugge Terminal
\n
(IZT) facilities. This came to an end in 2023.
\n
\n
4.3.2. Interest on investments and cash equivalents
\n
Interest on investments and cash equivalents mainly come from investments recognised
\n
at amortised cost in accordance with IFRS 9. The amount of this interest is up as
\n
compared with 2023, following the increase in interest rates. This has a limited impact on
\n
profit/loss because of the regulatory framework.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag220": { "value": "\n

\n\n

\n\n

\n\n
Note 4.4. Finance costs
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Finance costsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Borrowing interest costs4.4.1-69,311-65,909-3,402
Unwinding of discounts on provisions4.4.2-1,233-2,5571,324
Interest charges on leasing contracts-927-827-100
Other finance costs-567-1,484917
Total-72,038-70,777-1261
\n\n
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\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n

\n\n
4.4.1. Borrowing interest costs
\n
Borrowing interest costs primarily include interest on the loans from the European
\n
Investment Bank and Fluxys, on bonds and on regulatory liabilities. The increase observed
\n
in 2024 can be explained by the higher level of regulatory liabilities and the increase in
\n
interest rates. This has a limited impact on profit/loss because of the regulatory
\n
framework.
\n
\n
4.4.2. Unwinding of discounts on provisions
\n
This item almost exclusively concerns employee benefits that are recognised and valued
\n
in accordance with IAS 19 and includes, apart from the unwinding of discounts on
\n
provisions, returns from associated assets, and actuarial gains and losses recognised in
\n
profit/loss. The change is mainly associated with a decrease in the discount rates.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag226": { "value": "\n
Note 4.4. Finance costs
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Finance costsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Borrowing interest costs4.4.1-69,311-65,909-3,402
Unwinding of discounts on provisions4.4.2-1,233-2,5571,324
Interest charges on leasing contracts-927-827-100
Other finance costs-567-1,484917
Total-72,038-70,777-1261
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\n\n\n\n
4.4.1. Borrowing interest costs
\n
Borrowing interest costs primarily include interest on the loans from the European
\n
Investment Bank and Fluxys, on bonds and on regulatory liabilities. The increase observed
\n
in 2024 can be explained by the higher level of regulatory liabilities and the increase in
\n
interest rates. This has a limited impact on profit/loss because of the regulatory
\n
framework.
\n
\n
4.4.2. Unwinding of discounts on provisions
\n
This item almost exclusively concerns employee benefits that are recognised and valued
\n
in accordance with IAS 19 and includes, apart from the unwinding of discounts on
\n
provisions, returns from associated assets, and actuarial gains and losses recognised in
\n
profit/loss. The change is mainly associated with a decrease in the discount rates.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag228": { "value": "\n
Note 4.5. Income tax
\n
\n
Income tax expense is analysed as follows:
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Income tax expensesIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Current tax4.5.1-34,639-28,235-6,404
Deferred tax4.5.29,0658,99867
Total4.5.3-25,574-19,237-6,337
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Income tax expense went up by k\u20ac 6,337 compared with the previous year. This change is
\n
mainly due to the following factors:
\n
\u2022 an increase in earnings before tax;
\n
\u2022 an increase in the amount of the deduction for revenues from innovation (from
\n
\u20ac10,201 thousand in 2024 to \u20ac9,203 thousand estimated in 2023). This increase was
\n
partly compensated by the deduction for energy efficiency investments obtained
\n
by Fluxys LNG. The amount of this deduction for the year 2024 is estimated at \u20ac310
\n
thousand.
\n
Income tax includes both current and deferred taxes, which are detailed separately
\n
below.
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
4.5.1. Current taxIn thousands of \u20ac
31-12-202431-12-2023Change
Income taxes on the result of the current -37,410-31,665-5,745
period
Adjustments to previous years\u2019 current2,7713,430-659
taxes
Total-34,639-28,235-6,404
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Current tax increased by \u20ac6,404 thousand in 2024.
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4.5.2 Deferred taxIn thousands of \u20ac
31-12-202431-12-2023Change
Relating to origination or reversal of 9,0658,99868
temporary differences
Differences arising from the valuation of 9,2839,488-205
property, plant and equipment
Changes in provisions-490-1,113623
Other changes272623-351
Relating to tax rate changes or to new taxes000
Relating to changes in accounting policies000
and errors
Relating to changes in fiscal status of entity or 000
shareholders
Total9,0658,99867
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Deferred tax is primarily influenced by the difference between the book value and the
\n
tax base of property, plant and equipment.
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Deferred tax income is stable compared to 2023.
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4.5.3. Reconciliation of expected income tax rate
In thousands of \u20ac
and effective average income tax rate
31-12-202431-12-2023Change
Income tax as per applicable tax rate \u2013 -26,909-24,165-2,744
Financial year
Profit/loss before taxes107,63596,66110,974
Applicable tax rate25,00%25,00%
Elements that justify transition to the effective -1,4721,497-2,969
average tax rate
Income tax rate differences between 916-7
jurisdictions
Changes in tax rates000
Tax-exempt income000
Non-deductible expenses-1,600-1,425-175
Taxable dividend income000
Deductible notional interest cost000
Other (1)1192,906-2,787
Income tax as per effective average tax rate \u2013 -28,382-22,668-5,714
Financial year
Profit/loss before taxes107,63596,66110,974
Average effective tax rate26,37%23,45%2,92%
Taxation of tax-free reserves38038
Adjustments to previous years\u2019 current taxes (1)2,7703,430-660
Total income tax expense-25,574-19,238-6,336
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(1) In 2024 and 2023, Fluxys LNG obtained the deduction for energy efficiency investments. This tax
\n
advantage is incorporated into the regulated tariffs.
\n
The average effective tax rate for 2024 amounted to 26.37% compared with 23.45% the
\n
previous year.
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\n\n\n
Note 5.15. Deferred tax assets and liabilities
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Recognised deferred tax liabilitiesIn thousands of \u20ac
31-12-202431-12-2023Difference
Valuation of assets86,44295,725-9,283
Accrued income0148-148
Fair value of financial instruments1,6061,731-125
Provisions for employee benefits or provisions not 36,09433,5982,496
accepted under IFRS
Other normative differences000
Total124,142131,202-7,060
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Deferred tax assets and liabilities are offset within each taxable entity. They are all fully
\n
recognised.
\n
The main source of deferred tax is the difference between the book value and the tax
\n
base of property, plant and equipment. This difference arises firstly from the recognition in
\n
the opening balance sheet of property, plant and equipment at their fair value
\n
corresponding to their deemed cost and, secondly, from the recognition at fair value of
\n
the assets and liabilities arising from the SEGEO and Distrigas & C\u00b0 business combinations
\n
in 2008.
\n
Provisions accounted for in accordance with IAS 19 (Employee benefits) and provisions
\n
recognised under local GAAP but not recognised under IFRS are another major source of
\n
deferred tax.
\n

\n\n\n\n\n\n
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Movement for the periodIn thousands of \u20ac
Deferred tax
As at 31-12-2023131,202
Deferred tax expenses \u2013 Profit & loss account-9,066
Deferred tax expenses \u2013 other comprehensive 2,006
income
As at 31-12-2024124,142
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\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag231": { "value": "\n
\n
Note 4.6. Net profit/loss for the period
\n
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Net profit/loss for the periodIn thousands of \u20ac
31-12-202431-12-2023Change
Non-controlling interests-8520-852
Group share82.91377.4235.490
Total profit/loss for the period82.06177.4234.638
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The consolidated net profit for the financial year amounted to \u20ac82,061 thousand, an
\n
increase of \u20ac4,638 thousand compared with 2023.
\n
\n

\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag232": { "value": "\n
Note 4.7. Earnings per share
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20ac31-12-202431-12-2023
Net profit/loss from continuing operations
attributable to the parent company\u2019s 82,06177,423
shareholders
Net profit/loss82,06177,423
Impact of dilutive instruments00
Diluted net profit/loss from continuing operations
attributable to the parent company\u2019s 82,06177,423
shareholders
Net profit/loss from discontinued operations
attributable to the parent company\u2019s 00
shareholders
Net profit/loss00
Impact of dilutive instruments00
Diluted net profit/loss from discontinued
operations attributable to the parent company\u2019s 00
shareholders
Net profit/loss attributable to the parent 82,06177,423
company\u2019s shareholders
Net profit/loss82,06177,423
Impact of dilutive instruments0
Diluted net profit/loss attributable to the parent 82,06177,423
company\u2019s shareholders
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Denominator (in units)31-12-202431-12-2023
Average number of outstanding shares70,263,50170,263,501
Impact of dilutive instruments0
Diluted average number of outstanding shares70,263,50170,263,501
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Earnings per share (in euros)31-12-202431-12-2023
Basic earnings per share from continuing operations attributable 1.16791.1019
to the parent company\u2019s shareholders
Diluted basic earnings per share from continuing operations 1.16791.1019
attributable to the parent company\u2019s shareholders
Basic earnings per share from discontinued operations 0.00000.0000
attributable to the parent company\u2019s shareholders
Diluted basic earnings per share from discontinued operations 0.00000.0000
attributable to the parent company\u2019s shareholders
Basic earnings per share
1.16791.1019
attributable to the parent company\u2019s shareholders
Diluted basic earnings per share
1.16791.1019
attributable to the parent company\u2019s shareholders
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\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag234": { "value": "\n
Note 5.1. Property, plant and equipment
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in property, plant and equipment
Gross book valueLandBuildingsGas Gas storage *
transmission*
At 31-12-202249,585161,2593,506,126387,120
Investments21828844,238966
Grants received0000
Disposals and retirements-1,585-253-14,7280
Internal transfers001,3750
Changes in the
consolidation scope and 0000
assets held for sale
Translation adjustments0000
At 31-12-202348,218161,2943,537,011388,086
Investments1,62666558,6412,145
Grants received0000
Disposals and retirements-430-1,2330
Internal transfers0042,4850
Changes in the
consolidation scope and 0000
assets held for sale
Translation adjustments0000
At 31-12-202449,801161,9593,636,904390,231
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* subject to the Gas Act
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In thousands of \u20ac
Other facilities Furniture, Assets under
LNG Terminal*and machineryequipment & construction & Total
vehiclesinstalments paid
1,461,39243,51158,36281,6765,749,031
39,712014,29467,938167,654
0 0000
-491-26,252-9,4160-52,725
0 00-1,3750
0 0000
0 0000
1,500,61317,25963,240148,2395,863,960
3,398012,72412,92392,122
0 0000
-710-4,536-181-6,064
22,19600-64,6810
0 0000
0 0000
1,526,13617,25971,42896,3005,950,019
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in property, plant and equipment
Depreciation and impairment lossesLandBuildingsGas Gas
transmission*storage*
As at 31-12-20220-106,445-2,461,454-268,883
Depreciation0-2,983-85,305-7,912
Disposals and retirements025313,8520
Internal transfers0000
Changes in the consolidation scope 0000
and assets held for sale
Translation adjustments0000
As at 31-12-20230-109,175-2,532,907-276,795
Depreciation0-2,226-92,355-7,938
Disposals and retirements007920
Internal transfers0000
Changes in the consolidation scope 0000
and assets held for sale
Translation adjustments0000
As at 31-12-20240-111,401-2,624,470-284,733
Net book values as at 31-12-202449,80150,5581,012,434105,498
Net book values as at 31-12-202348,21852,1191,004,104111,291
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* subject to the Gas Act
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In thousands of \u20ac
Other facilities Furniture, Assets under
LNG Terminal*and machineryequipment & construction & Total
vehiclesinstalments paid
-975,986-43,266-37,6220-3,893,656
-43,6870-6,8730-146,760
3426,2529,351049,742
0 0000
0 0000
0 0000
-1,019,639-17,014-35,1440-3,990,674
-49,8670-7,9900-160,376
5 04,53605,333
0 0000
0 0000
0 0000
-1,069,501-17,014-38,5980-4,145,717
456,63524532,83096,3001,804,302
480,97424528,096148,2391,873,286
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\n\n\n

\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in property, plant and equipment
LandBuildingsGas Gas
transmission*storage*
Net book values as at 31-12-2024, 49,80150,5581,012,434105,498
of which:
At cost49,80150,5581,012,434105,498
At revaluation0000
Supplementary information0000
Net book value of assets 110000
temporarily retired from active use
\n
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* subject to the Gas Act
\n
Property, plant and equipment mainly comprises the group\u2019s transmission, storage
\n
(Loenhout) and LNG terminalling (Zeebrugge) facilities.
\n
The Fluxys group has an indicative investment plan of \u20ac8.3 billion for the period 2025-2034.
\n
In 2024, Fluxys Belgium group made property, plant and equipment investments in
\n
infrastructure of \u20ac92,122 thousand. Furthermore, Fluxys Belgium group has invested \u20ac1,240
\n
thousand in IT in the network infrastructure as well as in the computers and devices
\n
inventory.
\n
Of those investments, \u20ac4,575 thousand was allocated to LNG infrastructure projects
\n
(mainly for the construction of 3 new Open Rack Vaporizers) and \u20ac85,946 thousand to
\n
projects linked to transmission activity, the main investments of which being the
\n
Desteldonk-Opwijk pipeline and the connection with the Les Awirs power station. The
\n
investment for the Clean Enclosed Burner also falls into this category.
\n
There have also been investments in storage activity to the tune of \u20ac3,560 thousand,
\n
mainly solar panels and for the electrification of our compression facilities.
\n
Following the commissioning of several installations, a transfer of \u20ac64,681 thousand was
\n
made from \u2018Assets under construction\u2019 to \u2018Gas transmission\u2019 (commissioning of two
\n
pipelines and a pressure reduction station) and to \u2018LNG terminal\u2019 (commissioning of new
\n
truck loading bays).
\n
In 2024, no costs for loans were activated on construction investments.
\n

\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20ac
Other facilities Furniture, Assets under
LNG Terminal*and machineryequipment & construction & Total
vehiclesinstalments paid
456,63524532,83096,3001,804,302
456,63524532,83096,3001,804,302
00000
00000
0000110
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\n
The depreciation charge for the period amounts to \u20ac160,376 thousand and reflects the
\n
rhythm at which the group expects to consume the economic benefits linked to those
\n
property, plant and equipment.
\n
In 2024, the depreciation charge for assets amortized using the declining-balance
\n
method is \u20ac24,005 thousand and their net book value at the closing date is \u20ac189,774
\n
thousand.
\n
The assets that are used within the regulated market are depreciated over their useful life,
\n
as stated in point 6 of the accounting principles (Note 2), without taking into account a
\n
residual value, given the specificity of the sector\u2019s activities.
\n
Other property, plant and equipment is depreciated over its useful life as estimated by
\n
the group, taking into account actual and potential contracts, and considering
\n
reasonable market assumptions, based on the principle of matching of revenues and
\n
costs. Given the specific nature of the activities concerned, the residual value, if any, of
\n
the facilities in question has been ignored.
\n
At the balance sheet date, the group does not hold property, plant and equipment
\n
assets which have been pledged as security against liabilities.
\n
At the end of the financial year, the group has identified no signal or event that would
\n
lead any item of property, plant and equipment to be impaired.
\n
This assessment takes into account the regulatory framework in which the Group operates
\n
and of the present energy transition in which the Group plays an active role. This refers,
\n
for example, to the conversion of our low-calorific gas network to high-calorific gas, the
\n
transport of molecules other than natural gas, and the efforts required to combat climate
\n
change. All the investments and regulated assets of the Group ensue in a right to a
\n
regulated authorised rate of return for their lifespan (see also accounting principles in
\n
Note 2.6).
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag239": { "value": "\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in property, plant and equipment
Depreciation and impairment lossesLandBuildingsGas Gas
transmission*storage*
As at 31-12-20220-106,445-2,461,454-268,883
Depreciation0-2,983-85,305-7,912
Disposals and retirements025313,8520
Internal transfers0000
Changes in the consolidation scope 0000
and assets held for sale
Translation adjustments0000
As at 31-12-20230-109,175-2,532,907-276,795
Depreciation0-2,226-92,355-7,938
Disposals and retirements007920
Internal transfers0000
Changes in the consolidation scope 0000
and assets held for sale
Translation adjustments0000
As at 31-12-20240-111,401-2,624,470-284,733
Net book values as at 31-12-202449,80150,5581,012,434105,498
Net book values as at 31-12-202348,21852,1191,004,104111,291
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* subject to the Gas Act
\n

\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20ac
Other facilities Furniture, Assets under
LNG Terminal*and machineryequipment & construction & Total
vehiclesinstalments paid
-975,986-43,266-37,6220-3,893,656
-43,6870-6,8730-146,760
3426,2529,351049,742
0 0000
0 0000
0 0000
-1,019,639-17,014-35,1440-3,990,674
-49,8670-7,9900-160,376
5 04,53605,333
0 0000
0 0000
0 0000
-1,069,501-17,014-38,5980-4,145,717
456,63524532,83096,3001,804,302
480,97424528,096148,2391,873,286
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\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in the book value of intangible assetsIn thousands of \u20ac
Depreciation and \u2018Client
CO2Emission
Softwareportfolios\u2019 Total
impairment lossesrights
assets
As at 31-12-2022-14,136-46,3480-60,484
Depreciation -8,930-6,4520-15,382
Impairment losses00-54-54
Disposals and retirements2,868002,868
As at 31-12-2023-20,198-52,800-54-73,052
Depreciation -11,05300-11,053
Impairment losses00-39-39
Disposals and retirements1,02252,800053,822
As at 31-12-2024-30,2290-93-30,322
\n\n
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\n\n\n\n
Note 5.3. Right of use assets
\n
The right of use assets are mainly linked to concession rights for land on which gas
\n
transmission and terminalling facilities (Zeebrugge) have been built.
\n
These contracts don\u2019t have significant termination or extension options. The rent is not
\n
variable, except for some contracts that have a clause for yearly indexation. The impact
\n
thereof is not material.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Right of use assetsIn thousands of \u20ac
Land & FacilitiesCarsTotal
Buildings
As at 31-12-202224,6161,9613,44330,020
Additional rights003,4013,401
Depreciation and impairment losses-2,406-671-1,675-4,752
Disposals00-89-89
As at 31-12-202322,2101,2905,08028,580
Additional rights2,33003,7346,064
Depreciation and impairment losses-3,461-397-2,246-6,104
Disposals00-112-112
As at 31-12-202421,0798936,45628,428
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\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag271": { "value": "\n

\n\n

\n
Note 5.2. Intangible assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in the book value of intangible assetsIn thousands of \u20ac
\u2018Client
CO2Emission
Gross book valueSoftwareportfolios\u2019 Total
rights
assets
As at 31-12-202230,54752,800083,347
Investments18,22101,59919,820
Disposals and retirements-2,87700-2,877
As at 31-12-202345,89152,8001,599100,290
Investments13,7980013,798
Disposals and retirements-1,022-52,800-526-54,348
As at 31-12-202458,66701,07359,740
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Movements in the book value of intangible assetsIn thousands of \u20ac
Depreciation and \u2018Client
CO2Emission
Softwareportfolios\u2019 Total
impairment lossesrights
assets
As at 31-12-2022-14,136-46,3480-60,484
Depreciation -8,930-6,4520-15,382
Impairment losses00-54-54
Disposals and retirements2,868002,868
As at 31-12-2023-20,198-52,800-54-73,052
Depreciation -11,05300-11,053
Impairment losses00-39-39
Disposals and retirements1,02252,800053,822
As at 31-12-2024-30,2290-93-30,322
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\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in the book value of intangible assetsIn thousands of \u20ac
Software\u2018Client portfolios\u2019 CO2Emission Total
assetsrights
Net book values as
28,438098029,418
at 31-12-2024
Net book values as
25,69301,54527,238
at 31-12-2023
\n\n
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\n
\n
\n
\n
Intangible assets include the net book value of software, the portfolio of \u2018Hub\u2019 clients and
\n
CO
\n
2
\n
emission rights.
\n
The software included in intangible assets is investment software developed or purchased
\n
by the group. This software is depreciated over 5 years on a straight-line basis. Major
\n
investments during the financial year concern software developed in relation to gas flow
\n
and asset management and related administrative tools.
\n
In 2015, Fluxys Belgium acquired all of Huberator\u2019s business activities for \u20ac52.8 million. This
\n
intangible asset was last amortised in 2023 (on a straight-line basis). As this activity is fully
\n
part of the regulated business, the asset has been removed from the intangible assets.
\n
Certain gas transmission facilities in Belgium are included in the scheme for greenhouse
\n
gas emission allowance trading. Accordingly, Fluxys Belgium group is entitled, for 2024, to
\n
free emission rights amounting to 26,675 tonnes of CO
\n
2
\n
for the compression, storage and
\n
terminalling activity sites. In accordance with the accounting policies stated in Note 2,
\n
the unused emission rights have been recognised at nil value in intangible assets.
\n
On 31-12-2024, the Fluxys Belgium group has 526,742 emission rights with nil book value.
\n
In April 2024, the Fluxys Belgium group used 6,578 purchased emission rights and 1,769 free
\n
emission rights to cover emissions related to storage, for a total of 8,347 tonnes of CO2.
\n
In 2023, the Fluxys Belgium group bought emission rights to cover its future needs, mainly
\n
for its storage services. The emission rights bought are recognised at the purchase price
\n
as intangible assets. They are then measured at fair value up to the purchase price. If the
\n
fair value is lower than the carrying amount on the balance sheet date, the emission
\n
rights are impaired.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag273": { "value": "\n

\n
Note 5.2. Intangible assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in the book value of intangible assetsIn thousands of \u20ac
\u2018Client
CO2Emission
Gross book valueSoftwareportfolios\u2019 Total
rights
assets
As at 31-12-202230,54752,800083,347
Investments18,22101,59919,820
Disposals and retirements-2,87700-2,877
As at 31-12-202345,89152,8001,599100,290
Investments13,7980013,798
Disposals and retirements-1,022-52,800-526-54,348
As at 31-12-202458,66701,07359,740
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in the book value of intangible assetsIn thousands of \u20ac
Depreciation and \u2018Client
CO2Emission
Softwareportfolios\u2019 Total
impairment lossesrights
assets
As at 31-12-2022-14,136-46,3480-60,484
Depreciation -8,930-6,4520-15,382
Impairment losses00-54-54
Disposals and retirements2,868002,868
As at 31-12-2023-20,198-52,800-54-73,052
Depreciation -11,05300-11,053
Impairment losses00-39-39
Disposals and retirements1,02252,800053,822
As at 31-12-2024-30,2290-93-30,322
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\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements in the book value of intangible assetsIn thousands of \u20ac
Software\u2018Client portfolios\u2019 CO2Emission Total
assetsrights
Net book values as
28,438098029,418
at 31-12-2024
Net book values as
25,69301,54527,238
at 31-12-2023
\n\n
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\n
\n
Intangible assets include the net book value of software, the portfolio of \u2018Hub\u2019 clients and
\n
CO
\n
2
\n
emission rights.
\n
The software included in intangible assets is investment software developed or purchased
\n
by the group. This software is depreciated over 5 years on a straight-line basis. Major
\n
investments during the financial year concern software developed in relation to gas flow
\n
and asset management and related administrative tools.
\n
In 2015, Fluxys Belgium acquired all of Huberator\u2019s business activities for \u20ac52.8 million. This
\n
intangible asset was last amortised in 2023 (on a straight-line basis). As this activity is fully
\n
part of the regulated business, the asset has been removed from the intangible assets.
\n
Certain gas transmission facilities in Belgium are included in the scheme for greenhouse
\n
gas emission allowance trading. Accordingly, Fluxys Belgium group is entitled, for 2024, to
\n
free emission rights amounting to 26,675 tonnes of CO
\n
2
\n
for the compression, storage and
\n
terminalling activity sites. In accordance with the accounting policies stated in Note 2,
\n
the unused emission rights have been recognised at nil value in intangible assets.
\n
On 31-12-2024, the Fluxys Belgium group has 526,742 emission rights with nil book value.
\n
In April 2024, the Fluxys Belgium group used 6,578 purchased emission rights and 1,769 free
\n
emission rights to cover emissions related to storage, for a total of 8,347 tonnes of CO2.
\n
In 2023, the Fluxys Belgium group bought emission rights to cover its future needs, mainly
\n
for its storage services. The emission rights bought are recognised at the purchase price
\n
as intangible assets. They are then measured at fair value up to the purchase price. If the
\n
fair value is lower than the carrying amount on the balance sheet date, the emission
\n
rights are impaired.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag276": { "value": "\n

\n\n
Note 5.3. Right of use assets
\n
The right of use assets are mainly linked to concession rights for land on which gas
\n
transmission and terminalling facilities (Zeebrugge) have been built.
\n
These contracts don\u2019t have significant termination or extension options. The rent is not
\n
variable, except for some contracts that have a clause for yearly indexation. The impact
\n
thereof is not material.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Right of use assetsIn thousands of \u20ac
Land & FacilitiesCarsTotal
Buildings
As at 31-12-202224,6161,9613,44330,020
Additional rights003,4013,401
Depreciation and impairment losses-2,406-671-1,675-4,752
Disposals00-89-89
As at 31-12-202322,2101,2905,08028,580
Additional rights2,33003,7346,064
Depreciation and impairment losses-3,461-397-2,246-6,104
Disposals00-112-112
As at 31-12-202421,0798936,45628,428
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\n\n\n\n
Note 5.11. Interest-bearing liabilities
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Non-current interest-bearing liabilitiesIn thousands of \u20ac
Notes31-12-2024 31-12-2023 Change
Leases5.11.122,31224,354-2,042
Bonds5.11.2696,781696,412369
Bank loans5.11.3166,000186,000-20,000
Other borrowings5.11.4140,182163,545-23,363
Total1,025,2751,070,311-45,036
Of which debts guaranteed by the 0 0 0
public authorities or by sureties
\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Current interest-bearing liabilitiesIn thousands of \u20ac
Notes31-12-2024 31-12-2023Change
Leases5.11.13,9742,3551,619
Bonds5.11.22,5232,5167
Bank loans5.11.322,26922,498-229
Other borrowings5.11.427,58027,967-387
Total56,34655,3361,010
Of which debts guaranteed by the 000
public authorities or by sureties
\n\n\n\n
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\n
5.11.1. Lease liabilities are accounted for in line with IFRS 16 and are limited to the
\n
contractual obligations, even if the Group expects certain contracts to be extended in
\n
the future although this option isn\u2019t stated in the current contract.
\n
5.11.2. In November 2014 and October 2017, Fluxys Belgium issued bonds for a total of
\n
\u20ac700,000 thousand. These bonds offer a gross annual coupon of 1.75% and 3.25%
\n
respectively. They will mature between 2027 and 2034.
\n
5.11.3. A 25-year loan of \u20ac400,000 thousand at a fixed rate contracted with the EIB in
\n
December 2008 to finance investments in developing the gas transmission
\n
network, the balance of which was \u20ac186,269 thousand as at 31-12-2024.
\n
5.11.4. Other borrowings include:
\n
\u2022 A loan of \u20ac257,000 thousand at a fixed rate of 3.20% with Fluxys SA to cover
\n
needs relating to investments necessary for the transshipment services at
\n
the Zeebrugge LNG Terminal. The balance still due as at 31-12-2024 is
\n
\u20ac163,545 thousand.
\n
\u2022 Short-term loans and accrued interest amounting to \u20ac4,128 thousand
\n

\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Changes in liabilities based on financing activities
31.12.2023 Cash Other movements31.12.2024
flow
Reclassifi-Variation in Amortisa
New cation accrued -tion of
lease between non-interests issuance
contractscurrent and payablefees
current
Non-current
interest-1,070,312-604,825-50,23104291,025,275
bearing
liabilities
Leases24,35404,825-6,8670022,312
Bonds696,412-60000429696,781
Bank loans186,00000-20,00000166,000
Other 163,54600-23,36400140,182
borrowings
Current
interest-55,337-48,424050,231-797056,346
bearing
liabilities
Leases2,355-5,24806,867003,974
Bonds2,516000702,523
Bank loans22,498-20,000020,000-229022,269
Other 27,967-23,176023,364-575027,580
borrowings
Total1,125,648-48,4844,8250-7974291,081,621
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Cash flows relating to interest-bearing liabilities are included in points IV.1.2, IV.2.1 and
\n
IV.2.2 of the consolidated statement of cash flows.
\n
The change in accrued interests payable and the amortisation of the issuance costs (in
\n
total \u20ac-368 thousand) relates to the difference between:
\n
- the interests paid, including leases (see point IV.3.1 of the consolidated
\n
statement of cash flows: \u20ac32,916 thousand) and
\n
- the sum of borrowing interest costs and interests on lease liabilities (see Note 4.4:
\n
\u20ac70,238 thousand) minus the interest on regulatory liabilities of \u20ac37,690 thousand =
\n
\u20ac32,548 thousand.
\n

\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Maturity of interest-bearing liabilities at 31-12-2024,
In thousands of \u20ac
non-discounted
Up to one yearBetween one and More than five Total
five yearsyears
Leases4,61315,8709,92430,407
Bonds19,316601,419169,506790,241
Bank loans34,562113,24595,663243,470
Other borrowings32,314104,81847,855184,987
Total90,805835,352322,9481,249,105
\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Maturity of interest-bearing liabilities at 31-12-2023,
In thousands of \u20ac
non-discounted
Up to one yearBetween one and More than five Total
five yearsyears
Leases3,09416,28012,20031,574
Bonds19,355358,621428,727806,703
Other borrowings64,393213,080191,666469,139
Total86,842587,981632,5931,307,416
\n\n\n\n
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\n

\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag278": { "value": "\n

\n\n

\n\n

\n\n

\n\n

\n\n
Note 5.4. Other financial assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other financial assetsIn thousands of \u20ac
Notes31-12-202431-12-2023
Shares at cost2424
Investment securities at amortised cost5.4.158,88266,016
Other investments at amortised cost5.4.147,06541,083
Financial instruments at fair value through profit2,9124,011
or loss
Other financial assets at cost7076
Total108,953111,210
\n\n
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\n
5.4.1. These items include cash investments with a maturity longer than one year. The
\n
investment securities at amortised cost are bonds, while other investments are amortised
\n
cost are mainly term deposits. They are mainly from Flux Re of which the cash is destined
\n
to cover the risk of the entity in the scope of its reinsurance business. The maturity of these
\n
investments is between 2026 and 2034.
\n
The assets held by Flux Re are significantly higher than the minimum capital requirements
\n
under Solvency II (\u20ac17.9 million).
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n
\n
Note 5.5. Other non-current assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other non-current assetsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Plan asset surpluses \u2018IAS 19 5.1416,75611,1995,557
Employee benefits\u2019
Total16,75611,1995,557
\n\n
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\n
\n
\n
\n
The value of the plan asset surpluses covering the provision for employee benefits
\n
increased in 2024 due to an increase in expected returns.
\n

\n\n\n\n

\n\n\n\n

\n\n
Note 5.9. Other current assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other current assetsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Accrued income3.1634.425-1.262
Prepaid expenses20.66917.4493.220
Other current assets5.9.11.8621.244618
Total25.69423.1182.576
\n\n
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\n
\n
Other current assets mainly comprise prepaid expenses amounting to \u20ac20,669 thousand
\n
(insurance, fees, rent, etc.) as well as various items of accrued income.
\n
5.9.1 Other current assets include the short-term share of the plan asset surpluses
\n
compared with the actuarial liability relating to the group's pension liabilities (see Notes
\n
5.5 and 5.14).
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag279": { "value": "\n

\n\n

\n\n

\n\n

\n\n
Note 5.4. Other financial assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other financial assetsIn thousands of \u20ac
Notes31-12-202431-12-2023
Shares at cost2424
Investment securities at amortised cost5.4.158,88266,016
Other investments at amortised cost5.4.147,06541,083
Financial instruments at fair value through profit2,9124,011
or loss
Other financial assets at cost7076
Total108,953111,210
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\n
5.4.1. These items include cash investments with a maturity longer than one year. The
\n
investment securities at amortised cost are bonds, while other investments are amortised
\n
cost are mainly term deposits. They are mainly from Flux Re of which the cash is destined
\n
to cover the risk of the entity in the scope of its reinsurance business. The maturity of these
\n
investments is between 2026 and 2034.
\n
The assets held by Flux Re are significantly higher than the minimum capital requirements
\n
under Solvency II (\u20ac17.9 million).
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n\n
\n
Note 5.5. Other non-current assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other non-current assetsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Plan asset surpluses \u2018IAS 19 5.1416,75611,1995,557
Employee benefits\u2019
Total16,75611,1995,557
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The value of the plan asset surpluses covering the provision for employee benefits
\n
increased in 2024 due to an increase in expected returns.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag280": { "value": "\n

\n\n

\n\n

\n\n
Note 5.4. Other financial assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other financial assetsIn thousands of \u20ac
Notes31-12-202431-12-2023
Shares at cost2424
Investment securities at amortised cost5.4.158,88266,016
Other investments at amortised cost5.4.147,06541,083
Financial instruments at fair value through profit2,9124,011
or loss
Other financial assets at cost7076
Total108,953111,210
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
5.4.1. These items include cash investments with a maturity longer than one year. The
\n
investment securities at amortised cost are bonds, while other investments are amortised
\n
cost are mainly term deposits. They are mainly from Flux Re of which the cash is destined
\n
to cover the risk of the entity in the scope of its reinsurance business. The maturity of these
\n
investments is between 2026 and 2034.
\n
The assets held by Flux Re are significantly higher than the minimum capital requirements
\n
under Solvency II (\u20ac17.9 million).
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag281": { "value": "\n

\n\n

\n\n
Note 5.4. Other financial assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other financial assetsIn thousands of \u20ac
Notes31-12-202431-12-2023
Shares at cost2424
Investment securities at amortised cost5.4.158,88266,016
Other investments at amortised cost5.4.147,06541,083
Financial instruments at fair value through profit2,9124,011
or loss
Other financial assets at cost7076
Total108,953111,210
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
5.4.1. These items include cash investments with a maturity longer than one year. The
\n
investment securities at amortised cost are bonds, while other investments are amortised
\n
cost are mainly term deposits. They are mainly from Flux Re of which the cash is destined
\n
to cover the risk of the entity in the scope of its reinsurance business. The maturity of these
\n
investments is between 2026 and 2034.
\n
The assets held by Flux Re are significantly higher than the minimum capital requirements
\n
under Solvency II (\u20ac17.9 million).
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n

\n\n

\n
Note 5.7. Trade and other receivables
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Trade and other receivablesIn thousands of \u20ac
Note31-12-202431-12-2023Change
Gross trade receivables72,50482,903-10,399
Impairment losses-1,572-1,551-21
Net trade receivables5.7.170,93281,352-10,420
Other receivables5.7.222,58920,7041,885
Total93,521102,056-8,535
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The decrease in trade receivables is in line with the decrease in sales and services to
\n
external customers.
\n\n
5.7.1 Fluxys Belgium group reduces its exposure to credit risk, both in terms of default
\n
and concentration of risk, by requiring short payment terms from its customers (payment
\n
within one month), a strict policy for the follow-up of trade receivables, and a systematic
\n
evaluation of its counterparties' financial position. The write-downs based on credit losses
\n
expected and accounted for in trade and other receivables are not very material for the
\n
Fluxys Belgium group.
\n
Trade receivables can be broken down as follows according to their ageing:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Net trade receivables according to ageingIn thousands of \u20ac
31-12-202431-12-2023Change
Receivables not past due70,06379,253-9,190
Receivables < 3 months4701,966-1,496
Receivables 3 - 6 months2025-5
Receivables > 6 months017-17
Receivables in litigation or doubtful (non-37991288
impaired)
Total70,93281,352-10,420
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Disputed or doubtful receivables mainly concern grid users. Those deemed irrecoverable
\n
have been subject to impairment losses of 100%.
\n

\n\n\n\n
5.7.2 The other receivables mainly comprise amounts due from joint ventures and
\n
from the VAT authorities.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n
Note 5.8. Short-term investments, cash and cash equivalents
\n
Investments relate to investments in the form of bonds, commercial paper and bank
\n
deposits over more than three months and maximum one year.
\n
Cash and cash equivalents are mainly euro investments in commercial paper that
\n
mature within a maximum of three months after the date of acquisition, deposits made
\n
with Fluxys SA (cash pooling), term deposits at credit institutions, current account bank
\n
balances and cash in hand.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Short-term investments, cash and cash equivalentsIn thousands of \u20ac
31-12-202431-12-2023Change
Short-term investments31,67232,998-1,326
Cash and cash equivalents1,091,5431,068,22723,316
Cash equivalents and cash pooling1,040,6111,012,85027,761
Short-term deposits20,03619,120916
Bank balances30,88336,246-5,363
Cash in hand13112
Total1,123,2151,101,22521,990
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
In 2024, the average rate of return on short-term investments, cash and cash equivalents
\n
was 2.00%. The write-downs because of credit losses expected and accounted for in
\n
investments, cash and cash equivalents are not material for the Fluxys Belgium group.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag282": { "value": "\n

\n\n
Note 5.4. Other financial assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other financial assetsIn thousands of \u20ac
Notes31-12-202431-12-2023
Shares at cost2424
Investment securities at amortised cost5.4.158,88266,016
Other investments at amortised cost5.4.147,06541,083
Financial instruments at fair value through profit2,9124,011
or loss
Other financial assets at cost7076
Total108,953111,210
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
5.4.1. These items include cash investments with a maturity longer than one year. The
\n
investment securities at amortised cost are bonds, while other investments are amortised
\n
cost are mainly term deposits. They are mainly from Flux Re of which the cash is destined
\n
to cover the risk of the entity in the scope of its reinsurance business. The maturity of these
\n
investments is between 2026 and 2034.
\n
The assets held by Flux Re are significantly higher than the minimum capital requirements
\n
under Solvency II (\u20ac17.9 million).
\n

\n\n\n\n

\n\n\n\n

\n\n

\n

\n
Note 6. Financial instruments
\n
Principles for managing financial risks
\n
Fluxys Belgium Group is exposed to several financial risks arising from its underlying
\n
activities and corporate financing activities. These financial risks consist of market risks
\n
(including currency risks, interest rate risks and price risks), credit risks and liquidity risks.
\n
The group's administrative organisation, controlling and financial reports ensure that these
\n
risks are constantly monitored and managed.
\n
The Group uses derivative financial instruments to hedge its exposure to foreign
\n
exchange and interest rate risks arising from its operational, financing and investment
\n
activities. The Group does not engage in speculative transactions.
\n
\n\n
Cash management policy
\n
The Fluxys Belgium group's cash is managed as part of a general policy and cash
\n
surpluses are invested with Fluxys SA under cash pooling agreements. By way of reminder,
\n
Fluxys SA centralises the management of the Fluxys group\u2019s cash funds and financing.
\n
The objective of this policy is to optimise the group\u2019s cash positions. These transactions are
\n
entered into at market terms and conditions.
\n
The group's financial policy stipulates that cash surpluses be maintained at first class
\n
financial institutions or invested in financial instruments issued by entities with a high credit
\n
rating or in financial instruments of issuers which are covered by a guarantee from a
\n
European Member State or whose share capital is predominantly controlled by state-
\n
owned entities. Cash surpluses are invested following a competitive bidding award, and
\n
in instruments that are sufficiently diversified to limit counterparty risk concentration. These
\n
investments are subject to constant monitoring and risk analysis on a case-by-case basis.
\n
At 31-12-2024, current and non-current investments, cash and cash equivalents
\n
amounted to \u20ac1,229,162 thousand compared to \u20ac1,207,537 thousand at the end of 2023.
\n

\n\n\n\n\n
\n\n
Credit and counterparty risks
\n
The group systematically assesses its counterparties' financial capacity and systematically
\n
monitors receivables. Group policy regarding counterparty risks requires that the group
\n
submits potential customers and suppliers to a detailed preliminary financial analysis
\n
(liquidity, solvency, profitability, reputation and risks). The group uses internal and external
\n
information, such as official analysis performed by rating agencies (Moody's, Standard &
\n
Poor's and Fitch). These rating agencies assess entities in relation to risk and award them a
\n
credit score (rating). The group also uses databases containing general, financial and
\n
market information to complement its own evaluation of potential customers and
\n
suppliers. In addition, for most of its activities the group is allowed to contractually require
\n
guarantees (either bank guarantees or cash deposits) from counterparties. The group
\n
thereby reduces its exposure to credit risk both in terms of default and concentration of
\n
customers.
\n
With regard to the concentration risk, it should be noted that one customer contributes
\n
16% to the company's revenues, more specifically \u20ac124 million to the transport activity.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n

\n\n

\n

\n\n
Interest rate risk
\n
The group's debt mainly consists of fixed interest rate loans maturing between 2024 and
\n
2034, the balance of which (including lease obligations) as at 31-12-2024 represents
\n
\u20ac1,081,621 thousand compared to \u20ac1,125,647 thousand at the end of 2023.
\n
In addition, the group's interest-bearing liabilities include other financing and liabilities to
\n
be used within the regulatory framework. As explained in Note 5.11, part of these bear
\n
interest at a 10-year OLO rate and the remainder at the average Euribor 1-year rate. The
\n
group does not incur any interest rate risks related to this.
\n
Therefore, a sensitivity analysis is not representative for the risk inherent in these financial
\n
instruments. Consequently, the Fluxys Belgium group\u2019s exposure to interest rate risk is very
\n
limited.
\n

\n\n\n\n\n\n
Liquidity Risk
\n
Liquidity risk management is one of Fluxys Belgium group\u2019s main objectives. The amounts
\n
invested and the investment period reflect the short- and long-term planning of cash
\n
needs as closely as possible, taking into account operational risks.
\n
The Fluxys Belgium group can call upon Fluxys SA in case of liquidity needs, under the
\n
cash pooling arrangements. By way of reminder, Fluxys centralises the management of
\n
the Fluxys group\u2019s cash funds and financing and has unused confirmed revolving credit
\n
facilities.
\n
The maturity of interest-bearing liabilities is reported in Note 5.11.
\n

\n\n\n\n\n

\n\n\n\n\n\n

\n\n
Summary of financial instruments at balance sheet date
\n
The group's main financial instruments consist of financial and trade receivables and
\n
payables, short-term investments, cash and cash equivalents.
\n
The following table gives an overview of financial instruments at 31 December 2024:
\n
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Summary of financial instruments at balance sheet dateIn thousands of \u20ac
31-12-2024 CategoryBook valueFair valueLevel
I. Non-current assets
Other financial assets at amortised cost A 106,04199,9521 & 2
Other financial assets at fair value through B 2,9122,9122
profit or loss
Lease receivablesA 002
Other receivablesA 18,69118,6912
II. Current assets
Lease receivablesA 002
Trade and other receivablesA 93,52193,5212
Cash investmentsA 31,67231,6482
Cash and cash equivalentsA 1,091,5431,091,5672
Total financial instruments \u2013 assets1,344,3801,338,291
I. Non-current liabilities
Interest-bearing liabilitiesA 1,002,963964,8582
Other financial liabilitiesB 2,9122,9122
II. Current liabilities
Interest-bearing liabilitiesA 52,37152,3712
Trade and other payablesA 108,959108,9592
Total financial instruments - liabilities1,167,2051,129,100
\n\n\n
\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The categories correspond to the following financial instruments:
\n
A. Financial assets or financial liabilities at amortised cost.
\n
B. Assets or liabilities at fair value through profit or loss.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n

\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Summary of financial instruments at balance sheet dateIn thousands of \u20ac
31-12-2023 CategoryBook valueFair valueLevel
I. Non-current assets
Other financial assets at amortised cost A 107,199100,2881 & 2
Other financial assets at fair value B 4,0114,0112
through profit or loss
Other financial assets at fair value A 002
Lease receivables
Other receivablesA 21,49621,4962
II. Current assets
Lease receivablesA 1,6441,6442
Trade and other receivablesA 102,056102,0562
Cash investmentsA 32,99832,9592
Cash and cash equivalentsA 1,068,2271,068,3342
Total financial instruments \u2013 assets1,337,6311,330,788
I. Non-current liabilities
Interest-bearing liabilitiesA 1,070,3111,021,8992
Other financial liabilitiesB 4,0104,0102
II. Current liabilities
Interest-bearing liabilitiesA 55,33655,3362
Trade and other payablesA 118,956118,9562
Total financial instruments - liabilities1,248,6131,200,201
\n\n
\n
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\n
\n
\n
\n
\n

\n\n\n\n\n
All of the group's financial instruments fall within Levels 1 and 2 of the fair value hierarchy.
\n
Their fair value is measured on a recurring basis.
\n
For the fair value measurement of Level 1, only quoted prices are used (without
\n
modification) for identical assets and liabilities in active markets. They mainly include
\n
bonds.
\n
For the fair value measurement of Level 2, observable prices other than the quoted prices
\n
of Level 1 are used. The prices are observable for the asset or liability, either directly or
\n
indirectly.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n
\n
The techniques for measuring the fair value of Level 2 financial instruments are the
\n
following:
\n
\u2022 The items \u2018Interest-bearing liabilities\u2019 include the fixed-rate bonds issued by Fluxys
\n
Belgium, whose fair value is determined based on active market rates, usually
\n
provided by financial institutions.
\n
\u2022 The fair value of other financial assets and liabilities categorised under level 2 is
\n
largely identical to their book value:
\n
o because they have a short-term maturity (such as trade receivables and
\n
payables),
\n
o except for assets at amortised cost due to the increase in interest rates
\n

\n\n\n\n\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag283": { "value": "\n
Note 5.4. Other financial assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other financial assetsIn thousands of \u20ac
Notes31-12-202431-12-2023
Shares at cost2424
Investment securities at amortised cost5.4.158,88266,016
Other investments at amortised cost5.4.147,06541,083
Financial instruments at fair value through profit2,9124,011
or loss
Other financial assets at cost7076
Total108,953111,210
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
5.4.1. These items include cash investments with a maturity longer than one year. The
\n
investment securities at amortised cost are bonds, while other investments are amortised
\n
cost are mainly term deposits. They are mainly from Flux Re of which the cash is destined
\n
to cover the risk of the entity in the scope of its reinsurance business. The maturity of these
\n
investments is between 2026 and 2034.
\n
The assets held by Flux Re are significantly higher than the minimum capital requirements
\n
under Solvency II (\u20ac17.9 million).
\n

\n\n\n\n

\n\n

\n
Note 5.7. Trade and other receivables
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Trade and other receivablesIn thousands of \u20ac
Note31-12-202431-12-2023Change
Gross trade receivables72,50482,903-10,399
Impairment losses-1,572-1,551-21
Net trade receivables5.7.170,93281,352-10,420
Other receivables5.7.222,58920,7041,885
Total93,521102,056-8,535
\n\n
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\n
\n
\n
The decrease in trade receivables is in line with the decrease in sales and services to
\n
external customers.
\n\n
5.7.1 Fluxys Belgium group reduces its exposure to credit risk, both in terms of default
\n
and concentration of risk, by requiring short payment terms from its customers (payment
\n
within one month), a strict policy for the follow-up of trade receivables, and a systematic
\n
evaluation of its counterparties' financial position. The write-downs based on credit losses
\n
expected and accounted for in trade and other receivables are not very material for the
\n
Fluxys Belgium group.
\n
Trade receivables can be broken down as follows according to their ageing:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Net trade receivables according to ageingIn thousands of \u20ac
31-12-202431-12-2023Change
Receivables not past due70,06379,253-9,190
Receivables < 3 months4701,966-1,496
Receivables 3 - 6 months2025-5
Receivables > 6 months017-17
Receivables in litigation or doubtful (non-37991288
impaired)
Total70,93281,352-10,420
\n\n
\n
\n
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\n
Disputed or doubtful receivables mainly concern grid users. Those deemed irrecoverable
\n
have been subject to impairment losses of 100%.
\n

\n\n\n\n
5.7.2 The other receivables mainly comprise amounts due from joint ventures and
\n
from the VAT authorities.
\n

\n\n\n\n

\n\n\n\n
Note 5.8. Short-term investments, cash and cash equivalents
\n
Investments relate to investments in the form of bonds, commercial paper and bank
\n
deposits over more than three months and maximum one year.
\n
Cash and cash equivalents are mainly euro investments in commercial paper that
\n
mature within a maximum of three months after the date of acquisition, deposits made
\n
with Fluxys SA (cash pooling), term deposits at credit institutions, current account bank
\n
balances and cash in hand.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Short-term investments, cash and cash equivalentsIn thousands of \u20ac
31-12-202431-12-2023Change
Short-term investments31,67232,998-1,326
Cash and cash equivalents1,091,5431,068,22723,316
Cash equivalents and cash pooling1,040,6111,012,85027,761
Short-term deposits20,03619,120916
Bank balances30,88336,246-5,363
Cash in hand13112
Total1,123,2151,101,22521,990
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\n
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\n
\n
\n
\n
In 2024, the average rate of return on short-term investments, cash and cash equivalents
\n
was 2.00%. The write-downs because of credit losses expected and accounted for in
\n
investments, cash and cash equivalents are not material for the Fluxys Belgium group.
\n

\n\n\n\n

\n\n
Note 5.11. Interest-bearing liabilities
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Non-current interest-bearing liabilitiesIn thousands of \u20ac
Notes31-12-2024 31-12-2023 Change
Leases5.11.122,31224,354-2,042
Bonds5.11.2696,781696,412369
Bank loans5.11.3166,000186,000-20,000
Other borrowings5.11.4140,182163,545-23,363
Total1,025,2751,070,311-45,036
Of which debts guaranteed by the 0 0 0
public authorities or by sureties
\n\n\n\n
\n
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\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Current interest-bearing liabilitiesIn thousands of \u20ac
Notes31-12-2024 31-12-2023Change
Leases5.11.13,9742,3551,619
Bonds5.11.22,5232,5167
Bank loans5.11.322,26922,498-229
Other borrowings5.11.427,58027,967-387
Total56,34655,3361,010
Of which debts guaranteed by the 000
public authorities or by sureties
\n\n\n\n
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\n
\n
5.11.1. Lease liabilities are accounted for in line with IFRS 16 and are limited to the
\n
contractual obligations, even if the Group expects certain contracts to be extended in
\n
the future although this option isn\u2019t stated in the current contract.
\n
5.11.2. In November 2014 and October 2017, Fluxys Belgium issued bonds for a total of
\n
\u20ac700,000 thousand. These bonds offer a gross annual coupon of 1.75% and 3.25%
\n
respectively. They will mature between 2027 and 2034.
\n
5.11.3. A 25-year loan of \u20ac400,000 thousand at a fixed rate contracted with the EIB in
\n
December 2008 to finance investments in developing the gas transmission
\n
network, the balance of which was \u20ac186,269 thousand as at 31-12-2024.
\n
5.11.4. Other borrowings include:
\n
\u2022 A loan of \u20ac257,000 thousand at a fixed rate of 3.20% with Fluxys SA to cover
\n
needs relating to investments necessary for the transshipment services at
\n
the Zeebrugge LNG Terminal. The balance still due as at 31-12-2024 is
\n
\u20ac163,545 thousand.
\n
\u2022 Short-term loans and accrued interest amounting to \u20ac4,128 thousand
\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Changes in liabilities based on financing activities
31.12.2023 Cash Other movements31.12.2024
flow
Reclassifi-Variation in Amortisa
New cation accrued -tion of
lease between non-interests issuance
contractscurrent and payablefees
current
Non-current
interest-1,070,312-604,825-50,23104291,025,275
bearing
liabilities
Leases24,35404,825-6,8670022,312
Bonds696,412-60000429696,781
Bank loans186,00000-20,00000166,000
Other 163,54600-23,36400140,182
borrowings
Current
interest-55,337-48,424050,231-797056,346
bearing
liabilities
Leases2,355-5,24806,867003,974
Bonds2,516000702,523
Bank loans22,498-20,000020,000-229022,269
Other 27,967-23,176023,364-575027,580
borrowings
Total1,125,648-48,4844,8250-7974291,081,621
\n\n\n\n
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\n
\n
\n
Cash flows relating to interest-bearing liabilities are included in points IV.1.2, IV.2.1 and
\n
IV.2.2 of the consolidated statement of cash flows.
\n
The change in accrued interests payable and the amortisation of the issuance costs (in
\n
total \u20ac-368 thousand) relates to the difference between:
\n
- the interests paid, including leases (see point IV.3.1 of the consolidated
\n
statement of cash flows: \u20ac32,916 thousand) and
\n
- the sum of borrowing interest costs and interests on lease liabilities (see Note 4.4:
\n
\u20ac70,238 thousand) minus the interest on regulatory liabilities of \u20ac37,690 thousand =
\n
\u20ac32,548 thousand.
\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Maturity of interest-bearing liabilities at 31-12-2024,
In thousands of \u20ac
non-discounted
Up to one yearBetween one and More than five Total
five yearsyears
Leases4,61315,8709,92430,407
Bonds19,316601,419169,506790,241
Bank loans34,562113,24595,663243,470
Other borrowings32,314104,81847,855184,987
Total90,805835,352322,9481,249,105
\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Maturity of interest-bearing liabilities at 31-12-2023,
In thousands of \u20ac
non-discounted
Up to one yearBetween one and More than five Total
five yearsyears
Leases3,09416,28012,20031,574
Bonds19,355358,621428,727806,703
Other borrowings64,393213,080191,666469,139
Total86,842587,981632,5931,307,416
\n\n\n\n
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\n

\n\n\n\n\n\n

\n\n\n\n\n\n
Note 5.16. Trade and other payables
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Trade and other liabilitiesIn thousands of \u20ac
31-12-202431-12-2023Change
Trade payables50,93654,501-3,565
Payroll and related items34,28339,341-5,058
Other payables23,74025,114-1,374
Total108,959118,956-9,997
\n\n
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\n
\n
\n
\n
The decrease is mainly due to the reduction of trade payables mainly due to the
\n
reduction of invoices to receive and the decrease of payroll and related items.
\n
Other payables are mainly including guarantees received.
\n

\n\n\n\n\n\n

\n\n

\n\n

\n

\n
Note 6. Financial instruments
\n
Principles for managing financial risks
\n
Fluxys Belgium Group is exposed to several financial risks arising from its underlying
\n
activities and corporate financing activities. These financial risks consist of market risks
\n
(including currency risks, interest rate risks and price risks), credit risks and liquidity risks.
\n
The group's administrative organisation, controlling and financial reports ensure that these
\n
risks are constantly monitored and managed.
\n
The Group uses derivative financial instruments to hedge its exposure to foreign
\n
exchange and interest rate risks arising from its operational, financing and investment
\n
activities. The Group does not engage in speculative transactions.
\n
\n\n
Cash management policy
\n
The Fluxys Belgium group's cash is managed as part of a general policy and cash
\n
surpluses are invested with Fluxys SA under cash pooling agreements. By way of reminder,
\n
Fluxys SA centralises the management of the Fluxys group\u2019s cash funds and financing.
\n
The objective of this policy is to optimise the group\u2019s cash positions. These transactions are
\n
entered into at market terms and conditions.
\n
The group's financial policy stipulates that cash surpluses be maintained at first class
\n
financial institutions or invested in financial instruments issued by entities with a high credit
\n
rating or in financial instruments of issuers which are covered by a guarantee from a
\n
European Member State or whose share capital is predominantly controlled by state-
\n
owned entities. Cash surpluses are invested following a competitive bidding award, and
\n
in instruments that are sufficiently diversified to limit counterparty risk concentration. These
\n
investments are subject to constant monitoring and risk analysis on a case-by-case basis.
\n
At 31-12-2024, current and non-current investments, cash and cash equivalents
\n
amounted to \u20ac1,229,162 thousand compared to \u20ac1,207,537 thousand at the end of 2023.
\n

\n\n\n\n\n
\n\n
Credit and counterparty risks
\n
The group systematically assesses its counterparties' financial capacity and systematically
\n
monitors receivables. Group policy regarding counterparty risks requires that the group
\n
submits potential customers and suppliers to a detailed preliminary financial analysis
\n
(liquidity, solvency, profitability, reputation and risks). The group uses internal and external
\n
information, such as official analysis performed by rating agencies (Moody's, Standard &
\n
Poor's and Fitch). These rating agencies assess entities in relation to risk and award them a
\n
credit score (rating). The group also uses databases containing general, financial and
\n
market information to complement its own evaluation of potential customers and
\n
suppliers. In addition, for most of its activities the group is allowed to contractually require
\n
guarantees (either bank guarantees or cash deposits) from counterparties. The group
\n
thereby reduces its exposure to credit risk both in terms of default and concentration of
\n
customers.
\n
With regard to the concentration risk, it should be noted that one customer contributes
\n
16% to the company's revenues, more specifically \u20ac124 million to the transport activity.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n

\n

\n\n

\n

\n\n
Interest rate risk
\n
The group's debt mainly consists of fixed interest rate loans maturing between 2024 and
\n
2034, the balance of which (including lease obligations) as at 31-12-2024 represents
\n
\u20ac1,081,621 thousand compared to \u20ac1,125,647 thousand at the end of 2023.
\n
In addition, the group's interest-bearing liabilities include other financing and liabilities to
\n
be used within the regulatory framework. As explained in Note 5.11, part of these bear
\n
interest at a 10-year OLO rate and the remainder at the average Euribor 1-year rate. The
\n
group does not incur any interest rate risks related to this.
\n
Therefore, a sensitivity analysis is not representative for the risk inherent in these financial
\n
instruments. Consequently, the Fluxys Belgium group\u2019s exposure to interest rate risk is very
\n
limited.
\n

\n\n\n\n\n\n
Liquidity Risk
\n
Liquidity risk management is one of Fluxys Belgium group\u2019s main objectives. The amounts
\n
invested and the investment period reflect the short- and long-term planning of cash
\n
needs as closely as possible, taking into account operational risks.
\n
The Fluxys Belgium group can call upon Fluxys SA in case of liquidity needs, under the
\n
cash pooling arrangements. By way of reminder, Fluxys centralises the management of
\n
the Fluxys group\u2019s cash funds and financing and has unused confirmed revolving credit
\n
facilities.
\n
The maturity of interest-bearing liabilities is reported in Note 5.11.
\n

\n\n\n\n\n

\n\n\n\n\n\n

\n\n
Summary of financial instruments at balance sheet date
\n
The group's main financial instruments consist of financial and trade receivables and
\n
payables, short-term investments, cash and cash equivalents.
\n
The following table gives an overview of financial instruments at 31 December 2024:
\n
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n

\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Summary of financial instruments at balance sheet dateIn thousands of \u20ac
31-12-2024 CategoryBook valueFair valueLevel
I. Non-current assets
Other financial assets at amortised cost A 106,04199,9521 & 2
Other financial assets at fair value through B 2,9122,9122
profit or loss
Lease receivablesA 002
Other receivablesA 18,69118,6912
II. Current assets
Lease receivablesA 002
Trade and other receivablesA 93,52193,5212
Cash investmentsA 31,67231,6482
Cash and cash equivalentsA 1,091,5431,091,5672
Total financial instruments \u2013 assets1,344,3801,338,291
I. Non-current liabilities
Interest-bearing liabilitiesA 1,002,963964,8582
Other financial liabilitiesB 2,9122,9122
II. Current liabilities
Interest-bearing liabilitiesA 52,37152,3712
Trade and other payablesA 108,959108,9592
Total financial instruments - liabilities1,167,2051,129,100
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The categories correspond to the following financial instruments:
\n
A. Financial assets or financial liabilities at amortised cost.
\n
B. Assets or liabilities at fair value through profit or loss.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Summary of financial instruments at balance sheet dateIn thousands of \u20ac
31-12-2023 CategoryBook valueFair valueLevel
I. Non-current assets
Other financial assets at amortised cost A 107,199100,2881 & 2
Other financial assets at fair value B 4,0114,0112
through profit or loss
Other financial assets at fair value A 002
Lease receivables
Other receivablesA 21,49621,4962
II. Current assets
Lease receivablesA 1,6441,6442
Trade and other receivablesA 102,056102,0562
Cash investmentsA 32,99832,9592
Cash and cash equivalentsA 1,068,2271,068,3342
Total financial instruments \u2013 assets1,337,6311,330,788
I. Non-current liabilities
Interest-bearing liabilitiesA 1,070,3111,021,8992
Other financial liabilitiesB 4,0104,0102
II. Current liabilities
Interest-bearing liabilitiesA 55,33655,3362
Trade and other payablesA 118,956118,9562
Total financial instruments - liabilities1,248,6131,200,201
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\n\n\n\n\n
All of the group's financial instruments fall within Levels 1 and 2 of the fair value hierarchy.
\n
Their fair value is measured on a recurring basis.
\n
For the fair value measurement of Level 1, only quoted prices are used (without
\n
modification) for identical assets and liabilities in active markets. They mainly include
\n
bonds.
\n
For the fair value measurement of Level 2, observable prices other than the quoted prices
\n
of Level 1 are used. The prices are observable for the asset or liability, either directly or
\n
indirectly.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n

\n\n
\n
The techniques for measuring the fair value of Level 2 financial instruments are the
\n
following:
\n
\u2022 The items \u2018Interest-bearing liabilities\u2019 include the fixed-rate bonds issued by Fluxys
\n
Belgium, whose fair value is determined based on active market rates, usually
\n
provided by financial institutions.
\n
\u2022 The fair value of other financial assets and liabilities categorised under level 2 is
\n
largely identical to their book value:
\n
o because they have a short-term maturity (such as trade receivables and
\n
payables),
\n
o except for assets at amortised cost due to the increase in interest rates
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag284": { "value": "\n

\n\n
Note 5.6. Inventories
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Book value of inventoriesIn thousands of \u20ac
31-12-202431-12-2023Change
Supplies32,19531,558637
Gross book value36,00135,260741
Impairment losses-3,806-3,702-104
Goods held for resale (gas)19,76818,6411,127
Gross book value19,76825,097-5,329
Impairment losses0-6,4566,456
Work in progress748244504
Gross book value748244504
Impairment losses000
Total52,71150,4432,268
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\n
Inventories of materials connected to the transmission network are at their normal levels.
\n
The decrease in the gross book value of goods held for resale can primarily be explained
\n
by a fall in average gas prices. For changes in impairment of gas inventories, see 4.2.5.3.
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Impact of movements on net profit/lossIn thousands of \u20ac
31-12-202431-12-2023Change
Inventories \u2013 purchased or used-4,084-23,64419,560
Impairment losses6,35211,431-5,079
Total2,268-12,21314,481
\n\n
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\n
\n
\n
\n
The movements of work in progress are included in other operating income in the income
\n
statement. The other movements of inventories are included in purchase of gas related to
\n
balancing of operations and operational needs.
\n
The impairment losses are relating to standard equipment with very limited possibilities for
\n
reuse.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag285": { "value": "\n
Note 5.6. Inventories
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Book value of inventoriesIn thousands of \u20ac
31-12-202431-12-2023Change
Supplies32,19531,558637
Gross book value36,00135,260741
Impairment losses-3,806-3,702-104
Goods held for resale (gas)19,76818,6411,127
Gross book value19,76825,097-5,329
Impairment losses0-6,4566,456
Work in progress748244504
Gross book value748244504
Impairment losses000
Total52,71150,4432,268
\n\n
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\n
\n
Inventories of materials connected to the transmission network are at their normal levels.
\n
The decrease in the gross book value of goods held for resale can primarily be explained
\n
by a fall in average gas prices. For changes in impairment of gas inventories, see 4.2.5.3.
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Impact of movements on net profit/lossIn thousands of \u20ac
31-12-202431-12-2023Change
Inventories \u2013 purchased or used-4,084-23,64419,560
Impairment losses6,35211,431-5,079
Total2,268-12,21314,481
\n\n
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\n
\n
The movements of work in progress are included in other operating income in the income
\n
statement. The other movements of inventories are included in purchase of gas related to
\n
balancing of operations and operational needs.
\n
The impairment losses are relating to standard equipment with very limited possibilities for
\n
reuse.
\n

\n\n\n\n

\n
Note 5.7. Trade and other receivables
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Trade and other receivablesIn thousands of \u20ac
Note31-12-202431-12-2023Change
Gross trade receivables72,50482,903-10,399
Impairment losses-1,572-1,551-21
Net trade receivables5.7.170,93281,352-10,420
Other receivables5.7.222,58920,7041,885
Total93,521102,056-8,535
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\n
\n
The decrease in trade receivables is in line with the decrease in sales and services to
\n
external customers.
\n\n
5.7.1 Fluxys Belgium group reduces its exposure to credit risk, both in terms of default
\n
and concentration of risk, by requiring short payment terms from its customers (payment
\n
within one month), a strict policy for the follow-up of trade receivables, and a systematic
\n
evaluation of its counterparties' financial position. The write-downs based on credit losses
\n
expected and accounted for in trade and other receivables are not very material for the
\n
Fluxys Belgium group.
\n
Trade receivables can be broken down as follows according to their ageing:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Net trade receivables according to ageingIn thousands of \u20ac
31-12-202431-12-2023Change
Receivables not past due70,06379,253-9,190
Receivables < 3 months4701,966-1,496
Receivables 3 - 6 months2025-5
Receivables > 6 months017-17
Receivables in litigation or doubtful (non-37991288
impaired)
Total70,93281,352-10,420
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Disputed or doubtful receivables mainly concern grid users. Those deemed irrecoverable
\n
have been subject to impairment losses of 100%.
\n

\n\n\n\n
5.7.2 The other receivables mainly comprise amounts due from joint ventures and
\n
from the VAT authorities.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag286": { "value": "\n

\n\n

\n\n

\n\n

\n
Note 5.7. Trade and other receivables
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Trade and other receivablesIn thousands of \u20ac
Note31-12-202431-12-2023Change
Gross trade receivables72,50482,903-10,399
Impairment losses-1,572-1,551-21
Net trade receivables5.7.170,93281,352-10,420
Other receivables5.7.222,58920,7041,885
Total93,521102,056-8,535
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\n
The decrease in trade receivables is in line with the decrease in sales and services to
\n
external customers.
\n\n
5.7.1 Fluxys Belgium group reduces its exposure to credit risk, both in terms of default
\n
and concentration of risk, by requiring short payment terms from its customers (payment
\n
within one month), a strict policy for the follow-up of trade receivables, and a systematic
\n
evaluation of its counterparties' financial position. The write-downs based on credit losses
\n
expected and accounted for in trade and other receivables are not very material for the
\n
Fluxys Belgium group.
\n
Trade receivables can be broken down as follows according to their ageing:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Net trade receivables according to ageingIn thousands of \u20ac
31-12-202431-12-2023Change
Receivables not past due70,06379,253-9,190
Receivables < 3 months4701,966-1,496
Receivables 3 - 6 months2025-5
Receivables > 6 months017-17
Receivables in litigation or doubtful (non-37991288
impaired)
Total70,93281,352-10,420
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Disputed or doubtful receivables mainly concern grid users. Those deemed irrecoverable
\n
have been subject to impairment losses of 100%.
\n

\n\n\n\n
5.7.2 The other receivables mainly comprise amounts due from joint ventures and
\n
from the VAT authorities.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag290": { "value": "\n
5.7.1 Fluxys Belgium group reduces its exposure to credit risk, both in terms of default
\n
and concentration of risk, by requiring short payment terms from its customers (payment
\n
within one month), a strict policy for the follow-up of trade receivables, and a systematic
\n
evaluation of its counterparties' financial position. The write-downs based on credit losses
\n
expected and accounted for in trade and other receivables are not very material for the
\n
Fluxys Belgium group.
\n
Trade receivables can be broken down as follows according to their ageing:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Net trade receivables according to ageingIn thousands of \u20ac
31-12-202431-12-2023Change
Receivables not past due70,06379,253-9,190
Receivables < 3 months4701,966-1,496
Receivables 3 - 6 months2025-5
Receivables > 6 months017-17
Receivables in litigation or doubtful (non-37991288
impaired)
Total70,93281,352-10,420
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\n
Disputed or doubtful receivables mainly concern grid users. Those deemed irrecoverable
\n
have been subject to impairment losses of 100%.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag291": { "value": "\n

\n\n

\n\n

\n\n
Note 5.8. Short-term investments, cash and cash equivalents
\n
Investments relate to investments in the form of bonds, commercial paper and bank
\n
deposits over more than three months and maximum one year.
\n
Cash and cash equivalents are mainly euro investments in commercial paper that
\n
mature within a maximum of three months after the date of acquisition, deposits made
\n
with Fluxys SA (cash pooling), term deposits at credit institutions, current account bank
\n
balances and cash in hand.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Short-term investments, cash and cash equivalentsIn thousands of \u20ac
31-12-202431-12-2023Change
Short-term investments31,67232,998-1,326
Cash and cash equivalents1,091,5431,068,22723,316
Cash equivalents and cash pooling1,040,6111,012,85027,761
Short-term deposits20,03619,120916
Bank balances30,88336,246-5,363
Cash in hand13112
Total1,123,2151,101,22521,990
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\n
In 2024, the average rate of return on short-term investments, cash and cash equivalents
\n
was 2.00%. The write-downs because of credit losses expected and accounted for in
\n
investments, cash and cash equivalents are not material for the Fluxys Belgium group.
\n

\n\n\n\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag292": { "value": "\n

\n\n

\n\n
Note 5.8. Short-term investments, cash and cash equivalents
\n
Investments relate to investments in the form of bonds, commercial paper and bank
\n
deposits over more than three months and maximum one year.
\n
Cash and cash equivalents are mainly euro investments in commercial paper that
\n
mature within a maximum of three months after the date of acquisition, deposits made
\n
with Fluxys SA (cash pooling), term deposits at credit institutions, current account bank
\n
balances and cash in hand.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Short-term investments, cash and cash equivalentsIn thousands of \u20ac
31-12-202431-12-2023Change
Short-term investments31,67232,998-1,326
Cash and cash equivalents1,091,5431,068,22723,316
Cash equivalents and cash pooling1,040,6111,012,85027,761
Short-term deposits20,03619,120916
Bank balances30,88336,246-5,363
Cash in hand13112
Total1,123,2151,101,22521,990
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\n
\n
In 2024, the average rate of return on short-term investments, cash and cash equivalents
\n
was 2.00%. The write-downs because of credit losses expected and accounted for in
\n
investments, cash and cash equivalents are not material for the Fluxys Belgium group.
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag295": { "value": "\n

\n\n

\n\n
Note 5.9. Other current assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other current assetsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Accrued income3.1634.425-1.262
Prepaid expenses20.66917.4493.220
Other current assets5.9.11.8621.244618
Total25.69423.1182.576
\n\n
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\n
Other current assets mainly comprise prepaid expenses amounting to \u20ac20,669 thousand
\n
(insurance, fees, rent, etc.) as well as various items of accrued income.
\n
5.9.1 Other current assets include the short-term share of the plan asset surpluses
\n
compared with the actuarial liability relating to the group's pension liabilities (see Notes
\n
5.5 and 5.14).
\n

\n\n\n\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag297": { "value": "\n
Note 5.9. Other current assets
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other current assetsIn thousands of \u20ac
Notes31-12-202431-12-2023Change
Accrued income3.1634.425-1.262
Prepaid expenses20.66917.4493.220
Other current assets5.9.11.8621.244618
Total25.69423.1182.576
\n\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Other current assets mainly comprise prepaid expenses amounting to \u20ac20,669 thousand
\n
(insurance, fees, rent, etc.) as well as various items of accrued income.
\n
5.9.1 Other current assets include the short-term share of the plan asset surpluses
\n
compared with the actuarial liability relating to the group's pension liabilities (see Notes
\n
5.5 and 5.14).
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag298": { "value": "\n

\n\n
Note 5.10. Equity
\n
On 31-12-2024, equity amounted to \u20ac603,813 thousand. The \u20ac9,600 thousand
\n
decrease since the previous year comes from dividends paid in 2024 (\u20ac98,368 thousand),
\n
which are largely offset by the comprehensive income for the period (\u20ac87,980 thousand),
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Note on parent entity shareholding
Ordinary PreferenceTotal
sharesshares
I. Movements in number of shares
1. Number of shares, opening balance70.263.501070.263.501
2. Number of shares issued
3. Number of ordinary shares cancelled or
reduced (-)
4. Number of preference shares cancelled or
reduced (-)
5. Other increase (decrease)
6. Number of shares, closing balance70.263.501070.263.501
II. Other information
No face
1. Face value of sharesvalue
mentioned
2. Number of shares owned by the company0 00
3. Interim dividends during the financial year
\n\n
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\n
The share capital of Fluxys Belgium SA is represented by 70,263,501 shares with no face
\n
value, divided into two categories, in addition to the specific share.
\n
Shares in category B are and remain registered. They are held by long-term shareholders.
\n
Category D shares are registered or dematerialised and are mainly held by the general
\n
public.
\n
The Belgian State owns one specific registered share, namely share no. 1, which does not
\n
belong to any of the above categories and shall be referred to hereinafter as the
\n
'specific share'. In accordance with the Fluxys Belgium articles of association, this 'specific
\n
share' carries specific rights. These specific rights remain attached to this share in addition
\n
to the common rights attached to the ordinary shares of Fluxys Belgium (former
\n
\u201cDistrigas\u201d), as long as this share is owned by the Belgian State, as established in Articles 3
\n
to 5 of the Royal Decree of 16 June 1994. These specific rights are exercised by the
\n
Federal Minister responsible for energy. In addition to these specific rights this 'specific
\n
share' also entitles to receive 100 times the dividend or any other distribution by the entity
\n
to its shareholders, than the ones attached to the category B or D shares.
\n

\n\n\n\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag299": { "value": "\n
Note 5.10. Equity
\n
On 31-12-2024, equity amounted to \u20ac603,813 thousand. The \u20ac9,600 thousand
\n
decrease since the previous year comes from dividends paid in 2024 (\u20ac98,368 thousand),
\n
which are largely offset by the comprehensive income for the period (\u20ac87,980 thousand),
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Note on parent entity shareholding
Ordinary PreferenceTotal
sharesshares
I. Movements in number of shares
1. Number of shares, opening balance70.263.501070.263.501
2. Number of shares issued
3. Number of ordinary shares cancelled or
reduced (-)
4. Number of preference shares cancelled or
reduced (-)
5. Other increase (decrease)
6. Number of shares, closing balance70.263.501070.263.501
II. Other information
No face
1. Face value of sharesvalue
mentioned
2. Number of shares owned by the company0 00
3. Interim dividends during the financial year
\n\n
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\n
\n
\n
\n
The share capital of Fluxys Belgium SA is represented by 70,263,501 shares with no face
\n
value, divided into two categories, in addition to the specific share.
\n
Shares in category B are and remain registered. They are held by long-term shareholders.
\n
Category D shares are registered or dematerialised and are mainly held by the general
\n
public.
\n
The Belgian State owns one specific registered share, namely share no. 1, which does not
\n
belong to any of the above categories and shall be referred to hereinafter as the
\n
'specific share'. In accordance with the Fluxys Belgium articles of association, this 'specific
\n
share' carries specific rights. These specific rights remain attached to this share in addition
\n
to the common rights attached to the ordinary shares of Fluxys Belgium (former
\n
\u201cDistrigas\u201d), as long as this share is owned by the Belgian State, as established in Articles 3
\n
to 5 of the Royal Decree of 16 June 1994. These specific rights are exercised by the
\n
Federal Minister responsible for energy. In addition to these specific rights this 'specific
\n
share' also entitles to receive 100 times the dividend or any other distribution by the entity
\n
to its shareholders, than the ones attached to the category B or D shares.
\n

\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag357": { "value": "\n

\n\n

\n\n
Note 5.11. Interest-bearing liabilities
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Non-current interest-bearing liabilitiesIn thousands of \u20ac
Notes31-12-2024 31-12-2023 Change
Leases5.11.122,31224,354-2,042
Bonds5.11.2696,781696,412369
Bank loans5.11.3166,000186,000-20,000
Other borrowings5.11.4140,182163,545-23,363
Total1,025,2751,070,311-45,036
Of which debts guaranteed by the 0 0 0
public authorities or by sureties
\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Current interest-bearing liabilitiesIn thousands of \u20ac
Notes31-12-2024 31-12-2023Change
Leases5.11.13,9742,3551,619
Bonds5.11.22,5232,5167
Bank loans5.11.322,26922,498-229
Other borrowings5.11.427,58027,967-387
Total56,34655,3361,010
Of which debts guaranteed by the 000
public authorities or by sureties
\n\n\n\n
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5.11.1. Lease liabilities are accounted for in line with IFRS 16 and are limited to the
\n
contractual obligations, even if the Group expects certain contracts to be extended in
\n
the future although this option isn\u2019t stated in the current contract.
\n
5.11.2. In November 2014 and October 2017, Fluxys Belgium issued bonds for a total of
\n
\u20ac700,000 thousand. These bonds offer a gross annual coupon of 1.75% and 3.25%
\n
respectively. They will mature between 2027 and 2034.
\n
5.11.3. A 25-year loan of \u20ac400,000 thousand at a fixed rate contracted with the EIB in
\n
December 2008 to finance investments in developing the gas transmission
\n
network, the balance of which was \u20ac186,269 thousand as at 31-12-2024.
\n
5.11.4. Other borrowings include:
\n
\u2022 A loan of \u20ac257,000 thousand at a fixed rate of 3.20% with Fluxys SA to cover
\n
needs relating to investments necessary for the transshipment services at
\n
the Zeebrugge LNG Terminal. The balance still due as at 31-12-2024 is
\n
\u20ac163,545 thousand.
\n
\u2022 Short-term loans and accrued interest amounting to \u20ac4,128 thousand
\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Changes in liabilities based on financing activities
31.12.2023 Cash Other movements31.12.2024
flow
Reclassifi-Variation in Amortisa
New cation accrued -tion of
lease between non-interests issuance
contractscurrent and payablefees
current
Non-current
interest-1,070,312-604,825-50,23104291,025,275
bearing
liabilities
Leases24,35404,825-6,8670022,312
Bonds696,412-60000429696,781
Bank loans186,00000-20,00000166,000
Other 163,54600-23,36400140,182
borrowings
Current
interest-55,337-48,424050,231-797056,346
bearing
liabilities
Leases2,355-5,24806,867003,974
Bonds2,516000702,523
Bank loans22,498-20,000020,000-229022,269
Other 27,967-23,176023,364-575027,580
borrowings
Total1,125,648-48,4844,8250-7974291,081,621
\n\n\n\n
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\n
Cash flows relating to interest-bearing liabilities are included in points IV.1.2, IV.2.1 and
\n
IV.2.2 of the consolidated statement of cash flows.
\n
The change in accrued interests payable and the amortisation of the issuance costs (in
\n
total \u20ac-368 thousand) relates to the difference between:
\n
- the interests paid, including leases (see point IV.3.1 of the consolidated
\n
statement of cash flows: \u20ac32,916 thousand) and
\n
- the sum of borrowing interest costs and interests on lease liabilities (see Note 4.4:
\n
\u20ac70,238 thousand) minus the interest on regulatory liabilities of \u20ac37,690 thousand =
\n
\u20ac32,548 thousand.
\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Maturity of interest-bearing liabilities at 31-12-2024,
In thousands of \u20ac
non-discounted
Up to one yearBetween one and More than five Total
five yearsyears
Leases4,61315,8709,92430,407
Bonds19,316601,419169,506790,241
Bank loans34,562113,24595,663243,470
Other borrowings32,314104,81847,855184,987
Total90,805835,352322,9481,249,105
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Maturity of interest-bearing liabilities at 31-12-2023,
In thousands of \u20ac
non-discounted
Up to one yearBetween one and More than five Total
five yearsyears
Leases3,09416,28012,20031,574
Bonds19,355358,621428,727806,703
Other borrowings64,393213,080191,666469,139
Total86,842587,981632,5931,307,416
\n\n\n\n
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\n\n\n\n\n\n

\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag366": { "value": "\n
Note 5.12. Regulatory liabilities
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Regulatory liabilitiesIn thousands of \u20ac
Note31-12-202431-12-2023Difference
Other financing \u2013 long term858,922888,753-29,831
Other financing \u2013 short term161,347203,249-41,902
Total of other financing (A)5.12.11,020,2691,092,002-71,733
Other liabilities \u2013 long term260,167150,963109,205
Other liabilities \u2013 short term9,52115,873-6,352
Total of other liabilities (B)5.12.2269,688166,836102,852
Total of regulatory liabilities (A+B = C)1,289,9571,258,83831,120
Presentation in balance sheet:
Non-current regulatory liabilities1,119,0891,039,71679,374
Current regulatory liabilities170,868219,122-48,254
Total of regulatory liabilities (C)1,289,9571,258,83831,120
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\n
5.12.1 Other financing corresponds to the specific allocations of regulatory liabilities at
\n
the group\u2019s disposal firstly to finance specific investments, notably in the second jetty at
\n
Zeebrugge and secondly, the cost associated with the conversion of part of the gas
\n
transmission network. These amounts bear interest at a 10-year OLO rate for one part and
\n
the remainder at the average 1-year Euribor rate. Auction premiums of \u20ac 40.1 million were
\n
realised in 2024; this amount was recorded under \u2018Other financing\u2019. This presentation is
\n
justified by the different regulatory treatment applied to auction premiums in
\n
accordance with the European network code.
\n
\n
5.12.2 The other regulatory liabilities included in \u2018other liabilities\u2019 include the positive
\n
differences between the regulated tariffs invoiced and the regulated tariffs acquired.
\n
These amounts bear interest at the average Euribor 1-year rate.
\n
The regulatory liabilities are reconciled with the segment reporting and the statement of
\n
cash flows as follows:
\n

\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movements of the regulatory liabilitiesIn thousands of \u20ac
Long term + short termOther financing(A)Other liabilities (B)Total
Balance as at 01-01-20241,092,002166,8361,258,838
Use-104,022-53,313-157,335
Additions47,928102,836150,764
Interest30,9816,70937,690
Transfer-46,62046,6200
Balance as at 31-12-20241,020,269269,6881,289,957
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The sum of use and additions amounts to -\u20ac6,571 thousand.
\n
This net increase in regulatory liabilities also corresponds with the change in regulatory
\n
liabilities included in item 1.2.5. of the cash flow table.
\n
The \u20ac37,690 thousand interest charge on regulatory liabilities was accounted for in the
\n
finance costs.
\n

\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfRegulatoryDeferralAccountsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag368": { "value": "\n
Note 5.13. Provisions
\n

\n\n\n\n\n\n
5.13.2. Other provisions
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Provisions for:In thousands of \u20ac
Litigation and Environment and OtherTotal other
claimssite restorationprovisions
Provisions at 31-12-2023 2,6491,482994,230
Additions0000
Use-2,649-211-99-2,959
Release0000
Unwinding of the discount0-890-89
Provisions at 31-12-2024, of which:01,18201,182
Non-current provisions01,18201,182
Current provisions0000
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5.13.3 Movements in the income statement and maturity of provisions
\n
Movements in the income statement are detailed as follows:
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Impact 2024 In thousands of \u20ac
AdditionsUse and reversalsTotal
Operating profit (loss) 8,939-14,361-5,422
Financial profit (loss)8,663-7,4301,233
Total17,603-21,792-4,189
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Maturity of provisions at 31-12-2024 In thousands of \u20ac
Up to one yearBetween one More than Total
and five yearsfive years
Litigation and claims0000
Environment and site restoration001.1821.182
Other0000
Subtotal001.1821.182
Employee benefits3.29313.17232.60749.072
Total3.29313.17233.78950.254
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Maturity of provisions at 31-12-2023 In thousands of \u20ac
Up to one yearBetween one More than Total
and five yearsfive years
Litigation and claims002,6482,648
Environment and site restoration1921,29101,483
Other990099
Subtotal2911,2912,6484,230
Employee benefits3,50814,03234,42351,963
Total3,79915,32337,07156,193
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\n\n\n\n\n\n
Provisions for litigation and claims
\n
The provisions for litigation concerning the construction of the Zeebrugge LNG Terminal
\n
(1983) were reversed in 2024 following the resolution of the disputes.
\n
Provisions for the environment and site restoration
\n
These provisions essentially cover the costs of safety, clean-up and restoration of sites
\n
subject to closure.
\n
These provisions are accrued in accordance with the Belgian regional environmental
\n
legislation and the Belgian Gas Act. These works require action plans and numerous
\n
studies in cooperation with the various public authorities and the institutions established
\n
for this purpose.
\n

\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag373": { "value": "\n

\n\n
Note 5.14. Provisions for employee benefits
\n
Description of the principal retirement schemes and related benefits
\n
In Belgium collective agreements regulate the rights of entity employees in the electricity
\n
and gas industries.
\n
Defined benefit pension plans
\n
These agreements cover 'salary scale' personnel recruited before 1 June 2002 and
\n
management personnel recruited before 1 May 1999 allowing affiliates to benefit from a
\n
capital calculated based on a formula that takes account of their final annual salary and
\n
the number of years of service when they retire. These are called \u2018defined benefit
\n
pension plans\u2019.
\n
Obligations under these defined benefit pension plans are funded through a number of
\n
pension funds for the electricity and gas industries and through insurance companies.
\n
Employees and employers contribute to these pension plans. The employer\u2019s contribution
\n
is determined annually on the basis of an actuarial report. This is to ensure that the
\n
minimum legal funding requirements have been met and that the long-term funding of
\n
the benefits is assured.
\n
Description of the main actuarial risks
\n
The group is exposed, in connection with its defined benefit pension plans, to risks related
\n
to actuarial assumptions concerning investments, interest rates, life expectancy and
\n
salary development.
\n
The present value of defined benefit obligations is determined using a discount rate
\n
based on high-quality bonds.
\n
The assumptions concerning salary increases, inflation, personnel movements and
\n
expected average retirement age are defined based on historic entity statistics. The
\n
mortality tables used are those published by the IABE (Institute of Actuaries in Belgium).
\n
\n
At the end of 2024, the defined benefit pension plans have surplus plan assets of \u20ac18,618
\n
thousand (2023: \u20ac12,443 thousand) compared with the actuarial liability on estimated
\n
liabilities of the group. The amount was therefore transferred to the assets in the balance
\n
sheet under 'Other non-current assets' (note 5.5) and 'Other current assets' (note 5.9.1).
\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n
The financing policy was amended in 2018 to ensure that surpluses are recovered over
\n
the duration of the pension plans. In addition, transfers between different pension plans
\n
are possible.
\n
\n
Defined contribution pension plans with guaranteed minimum return
\n
In Belgium, \u2018Salary scale\u2019 personnel recruited after 1 June 2002 and management staff
\n
recruited after 1 May 1999 as well as the members of the management benefit from
\n
defined contribution pension plans.
\n
The pension plans are financed by contributions from employees and employers, the
\n
latter corresponding to a multiple of the contributions from employees. Obligations under
\n
these defined contribution pension plans are funded through a number of pension funds
\n
for the electricity and gas industries and through insurance companies.
\n
The assets of the pension funds are allocated among the various categories of the
\n
following risks:
\n
\u2022 Low risk: bonds in the euro zone and/or high-quality bonds.
\n
\u2022 Medium risk: risk diversification between bonds, convertible bonds, real-estate
\n
and equity instruments.
\n
\u2022 High risk: equity instruments, real estate, etc.
\n
\u2022 Dynamic Asset Allocation: rapid adjustment of the portfolio structure in case of
\n
specific events in order to limit losses in periods of stress.
\n
Belgian law requires that the employer guarantees a minimum return for defined
\n
contribution plans. These minimum returns vary based on the market rates.
\n
For the minimum returns guaranteed by the employer, the following elements apply:
\n
\u2022 For contributions paid up until 31-12-2015, the minimum return of 3.25% for
\n
employer contributions and 3.75% for employee contributions applies up to that
\n
date.
\n
\u2022 For contributions paid from 01-01-2025, the minimum guaranteed return went
\n
from 1.75% to 2.5%.
\n
\u2022 The accounting method used by the group to value these \u2018defined contribution
\n
pension plans, with a guaranteed minimum return\u2019, is identical to the method
\n
used for \u2018defined benefit plans\u2019 (see Note 2.11).
\n
For certain defined contribution plans, the contributions increase depending on the
\n
seniority in the Group (referred to as \u2018backloaded\u2019). For these plans, the contributions are
\n
distributed uniformly over time.
\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n
Description of the main risks
\n
Defined contribution plans expose the employer to the risk of a minimum return on
\n
pension fund assets that do not offer a sufficient guaranteed return.
\n
Other long-term employee benefits
\n
Fluxys Belgium group also has early pension schemes, other post-employment benefits
\n
such as reimbursement of medical expenses and price subsidies, as well as other long-
\n
term benefits (seniority bonuses). Not all of these benefits are funded.
\n
\n
Funding status of the employee benefits
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other **
2024202320242023
Present value of funded obligations-214,252-206,978-34,070-35,643
Fair value of plan assets221,453205,50000
Funding status of plans7,201-1,478-34,070-35,643
Effect of the asset ceiling5-3,586-2,39800
Other0000
Net employee benefit liability3,615-3,876-34,070-35,643
Of which assets18,61812,44300
Of which liabilities-15,002-16,319-34,070-35,643
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* Pensions also include non-prefinanced early-retirement obligations. They also include,
\n
since 2018, contributions paid to cover pension schemes with a profile that takes into
\n
account seniority.
\n
** The item \u2018Other\u2019 includes seniority bonuses paid over the course of the career as well
\n
as other post-employment benefits (reimbursement of medical expenses and price
\n
subsidies (discount on energy costs)).
\n
\n
\n
5
\n
Applicable to a limited number of plans where the plan asset surplus is not transferable
\n
to other plans.
\n

\n\n\n\n\n\n

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\n\n
Movements in the present value of obligations
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other **
2024202320242023
At the start of the period-206,978-194,397-35,643-32,840
Service costs-8,168-8,682-772-743
Early retirement costs0000
Financial loss (-) / profit (+)-7,673-7,273-1,080-1,225
Participant\u2019s contributions-969-81100
Change in demographic 783-385537-23
assumptions
Change in financial assumptions5842,379285-864
Change from experience -158-6,678870-1,993
adjustments
Past service costs0000
Benefits paid8,3278,8691,7332,045
Reclassifications0000
Other-214,252-206,978-34,070-35,643
At the end of the period-206,978-194,397-35,643-32,840
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Movements in the fair value of plan assets
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other **
2024202320242023
At the start of the period205,500205,65100
Interest income6,3147,08800
Return on plan assets (excluding net 9,4399,27800
interest income)
Employer\u2019s contributions9,6705,4501,7332,045
Participants\u2019 contributions96981100
Benefits paid-8,327-8,869-1,733-2,045
Change in financial assumptions-2,112-13,90900
Other221,453205,50000
At the end of the period15,75316,36600
Actual return on plan assets205,500205,65100
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The return on pension plan assets in 2024 remains stable compared to 2023.
\n

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Costs recognised in profit or loss
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other **
2024202320242023
Cost
Service costs-8,168-8,682-772-743
Early retirement costs0000
Past service costs0000
Actuarial gains/(losses) on other
1,192-1,19900
long-term benefits
Net interest on net liabilities/(assets)
Interest expense on obligations-7,672-7,272-1,080-1,225
Interest income on plan assets6,3157,08800
Costs recognised in profit or loss-8,333-10,065-1,852-1,968
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Actuarial losses (gains) recognised in other comprehensive income
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20acPensions *Other**
2024202320242023
Change in demographic assumptions660-410424-23
Change in financial assumptions-60-10,306-121-864
Change from experience adjustments-500-6,678766-1,993
Effect of the asset ceiling-1,121-2,39800
Return on plan assets (excluding net interest 7,7569,2781220
income)
Actuarial losses (gains) recognised in other 6,735-10,5141,190-2,880
comprehensive income
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Allocation of obligation by type of participant to the plan
\n
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In thousands of \u20ac20242023
Active plan participants-199,310-196,014
Non-active participants with deferred benefits-26,809-23,535
Retirees and beneficiaries-22,203-23,072
Total-248,322-242,621
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Allocation of obligation by type of benefit
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20ac20242023
Retirement and death benefits-214,252-206,978
Other post-employment benefits (medical expenses -26,122-26,748
and price subsidies)
Seniority bonuses-7,948-8,895
Total-248,322-242,621
\n\n\n\n
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\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n
Main actuarial assumptions used
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
20242023
Discount rate between 10 to 12 years2.99%3.03%
Discount rate between 13 to 19 years3.23%3.24%
Discount rate over 19 years3.26%3.25%
Expected average salary increase2.24%2.04%
Expected inflation2.00%2.03%
Expected increase in health expenses 3.00%3.03%
Expected increase of price subsidies 2.00%2.03%
Average assumed retirement age63(BAR) / 63(BAR) / 65(CAD)
65(CAD)
Mortality tablesIABE prospectiveIABE prospective
Life expectancy in years:
For a person aged 65 at the balance sheet date:
- Male2120
- Female2424
For a person aged 65 in 20 years:
- Male2322
- Female2626
\n\n\n\n
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\n\n
The fair value of plan assets is distributed based on the following major
\n
categories
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
20242023
Listed investments92.24%94.63%
Shares - eurozone12.05%8.30%
Shares - outside eurozone13.10%19.78%
Government bonds - eurozone5.06%1.99%
Other bonds - eurozone33.09%29.30%
Other bonds - outside eurozone28.93%35.26%
Non-listed investments7.76%5.37%
Insurance contracts0.00%0.00%
Real estate1.82%1.63%
Cash and cash equivalents0.25%2.47%
Other5.70%1.27%
Total (in %)100.00%100.00%
Total (in thousands of \u20ac) 221,453205,500
\n\n\n\n
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\n\n
Sensitivity analysis
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Impact on obligations In thousands of \u20ac
Increase (-) / Decrease (+)
Increase in discount rate (0.25%)3,685
Average salary increase - Excluding inflation (0.1%)-1,362
Increase in inflation rate (0.25%)-3,320
Increase in healthcare benefits (0.01%)-26
Increase in price subsidies (0.5%)-837
Increase in life expectancy of retirees (1 year)-778
\n\n\n\n
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\n
Average weighted duration of obligations
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
20242023
Average weighted duration of defined benefit obligations78
Average weighted duration of other post-employment obligations1615
\n\n\n\n
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Expected contribution to pay for employee benefits relating to extra-
\n
statutory pensions
\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
In thousands of \u20ac
Expected contribution for 2024 (for all extra-
statutory pensions and other obligations, 11,028
listed above)
\n\n\n\n
\n
\n
\n
\n
The contributions to be paid are function of the payroll of the population concerned.
\n
\n

\n\n\n\n\n\n

\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag316": { "value": "\n

\n\n
Note 5.15. Deferred tax assets and liabilities
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Recognised deferred tax liabilitiesIn thousands of \u20ac
31-12-202431-12-2023Difference
Valuation of assets86,44295,725-9,283
Accrued income0148-148
Fair value of financial instruments1,6061,731-125
Provisions for employee benefits or provisions not 36,09433,5982,496
accepted under IFRS
Other normative differences000
Total124,142131,202-7,060
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Deferred tax assets and liabilities are offset within each taxable entity. They are all fully
\n
recognised.
\n
The main source of deferred tax is the difference between the book value and the tax
\n
base of property, plant and equipment. This difference arises firstly from the recognition in
\n
the opening balance sheet of property, plant and equipment at their fair value
\n
corresponding to their deemed cost and, secondly, from the recognition at fair value of
\n
the assets and liabilities arising from the SEGEO and Distrigas & C\u00b0 business combinations
\n
in 2008.
\n
Provisions accounted for in accordance with IAS 19 (Employee benefits) and provisions
\n
recognised under local GAAP but not recognised under IFRS are another major source of
\n
deferred tax.
\n

\n\n\n\n\n\n

\n\n\n\n\n\n

\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Movement for the periodIn thousands of \u20ac
Deferred tax
As at 31-12-2023131,202
Deferred tax expenses \u2013 Profit & loss account-9,066
Deferred tax expenses \u2013 other comprehensive 2,006
income
As at 31-12-2024124,142
\n\n\n
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\n

\n\n\n\n\n\n

\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag320": { "value": "\n

\n\n
Note 5.16. Trade and other payables
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Trade and other liabilitiesIn thousands of \u20ac
31-12-202431-12-2023Change
Trade payables50,93654,501-3,565
Payroll and related items34,28339,341-5,058
Other payables23,74025,114-1,374
Total108,959118,956-9,997
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The decrease is mainly due to the reduction of trade payables mainly due to the
\n
reduction of invoices to receive and the decrease of payroll and related items.
\n
Other payables are mainly including guarantees received.
\n

\n\n\n\n\n\n

\n\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag332": { "value": "\n

\n

\n
Note 6. Financial instruments
\n
Principles for managing financial risks
\n
Fluxys Belgium Group is exposed to several financial risks arising from its underlying
\n
activities and corporate financing activities. These financial risks consist of market risks
\n
(including currency risks, interest rate risks and price risks), credit risks and liquidity risks.
\n
The group's administrative organisation, controlling and financial reports ensure that these
\n
risks are constantly monitored and managed.
\n
The Group uses derivative financial instruments to hedge its exposure to foreign
\n
exchange and interest rate risks arising from its operational, financing and investment
\n
activities. The Group does not engage in speculative transactions.
\n
\n\n
Cash management policy
\n
The Fluxys Belgium group's cash is managed as part of a general policy and cash
\n
surpluses are invested with Fluxys SA under cash pooling agreements. By way of reminder,
\n
Fluxys SA centralises the management of the Fluxys group\u2019s cash funds and financing.
\n
The objective of this policy is to optimise the group\u2019s cash positions. These transactions are
\n
entered into at market terms and conditions.
\n
The group's financial policy stipulates that cash surpluses be maintained at first class
\n
financial institutions or invested in financial instruments issued by entities with a high credit
\n
rating or in financial instruments of issuers which are covered by a guarantee from a
\n
European Member State or whose share capital is predominantly controlled by state-
\n
owned entities. Cash surpluses are invested following a competitive bidding award, and
\n
in instruments that are sufficiently diversified to limit counterparty risk concentration. These
\n
investments are subject to constant monitoring and risk analysis on a case-by-case basis.
\n
At 31-12-2024, current and non-current investments, cash and cash equivalents
\n
amounted to \u20ac1,229,162 thousand compared to \u20ac1,207,537 thousand at the end of 2023.
\n

\n\n\n\n\n
\n\n
Credit and counterparty risks
\n
The group systematically assesses its counterparties' financial capacity and systematically
\n
monitors receivables. Group policy regarding counterparty risks requires that the group
\n
submits potential customers and suppliers to a detailed preliminary financial analysis
\n
(liquidity, solvency, profitability, reputation and risks). The group uses internal and external
\n
information, such as official analysis performed by rating agencies (Moody's, Standard &
\n
Poor's and Fitch). These rating agencies assess entities in relation to risk and award them a
\n
credit score (rating). The group also uses databases containing general, financial and
\n
market information to complement its own evaluation of potential customers and
\n
suppliers. In addition, for most of its activities the group is allowed to contractually require
\n
guarantees (either bank guarantees or cash deposits) from counterparties. The group
\n
thereby reduces its exposure to credit risk both in terms of default and concentration of
\n
customers.
\n
With regard to the concentration risk, it should be noted that one customer contributes
\n
16% to the company's revenues, more specifically \u20ac124 million to the transport activity.
\n

\n\n\n\n\n

\n\n\n\n\n

\n

\n\n
Interest rate risk
\n
The group's debt mainly consists of fixed interest rate loans maturing between 2024 and
\n
2034, the balance of which (including lease obligations) as at 31-12-2024 represents
\n
\u20ac1,081,621 thousand compared to \u20ac1,125,647 thousand at the end of 2023.
\n
In addition, the group's interest-bearing liabilities include other financing and liabilities to
\n
be used within the regulatory framework. As explained in Note 5.11, part of these bear
\n
interest at a 10-year OLO rate and the remainder at the average Euribor 1-year rate. The
\n
group does not incur any interest rate risks related to this.
\n
Therefore, a sensitivity analysis is not representative for the risk inherent in these financial
\n
instruments. Consequently, the Fluxys Belgium group\u2019s exposure to interest rate risk is very
\n
limited.
\n

\n\n\n\n\n\n
Liquidity Risk
\n
Liquidity risk management is one of Fluxys Belgium group\u2019s main objectives. The amounts
\n
invested and the investment period reflect the short- and long-term planning of cash
\n
needs as closely as possible, taking into account operational risks.
\n
The Fluxys Belgium group can call upon Fluxys SA in case of liquidity needs, under the
\n
cash pooling arrangements. By way of reminder, Fluxys centralises the management of
\n
the Fluxys group\u2019s cash funds and financing and has unused confirmed revolving credit
\n
facilities.
\n
The maturity of interest-bearing liabilities is reported in Note 5.11.
\n

\n\n\n\n\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag334": { "value": "\n
Cash management policy
\n
The Fluxys Belgium group's cash is managed as part of a general policy and cash
\n
surpluses are invested with Fluxys SA under cash pooling agreements. By way of reminder,
\n
Fluxys SA centralises the management of the Fluxys group\u2019s cash funds and financing.
\n
The objective of this policy is to optimise the group\u2019s cash positions. These transactions are
\n
entered into at market terms and conditions.
\n
The group's financial policy stipulates that cash surpluses be maintained at first class
\n
financial institutions or invested in financial instruments issued by entities with a high credit
\n
rating or in financial instruments of issuers which are covered by a guarantee from a
\n
European Member State or whose share capital is predominantly controlled by state-
\n
owned entities. Cash surpluses are invested following a competitive bidding award, and
\n
in instruments that are sufficiently diversified to limit counterparty risk concentration. These
\n
investments are subject to constant monitoring and risk analysis on a case-by-case basis.
\n
At 31-12-2024, current and non-current investments, cash and cash equivalents
\n
amounted to \u20ac1,229,162 thousand compared to \u20ac1,207,537 thousand at the end of 2023.
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag335": { "value": "\n
Credit and counterparty risks
\n
The group systematically assesses its counterparties' financial capacity and systematically
\n
monitors receivables. Group policy regarding counterparty risks requires that the group
\n
submits potential customers and suppliers to a detailed preliminary financial analysis
\n
(liquidity, solvency, profitability, reputation and risks). The group uses internal and external
\n
information, such as official analysis performed by rating agencies (Moody's, Standard &
\n
Poor's and Fitch). These rating agencies assess entities in relation to risk and award them a
\n
credit score (rating). The group also uses databases containing general, financial and
\n
market information to complement its own evaluation of potential customers and
\n
suppliers. In addition, for most of its activities the group is allowed to contractually require
\n
guarantees (either bank guarantees or cash deposits) from counterparties. The group
\n
thereby reduces its exposure to credit risk both in terms of default and concentration of
\n
customers.
\n
With regard to the concentration risk, it should be noted that one customer contributes
\n
16% to the company's revenues, more specifically \u20ac124 million to the transport activity.
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag336": { "value": "\n
Interest rate risk
\n
The group's debt mainly consists of fixed interest rate loans maturing between 2024 and
\n
2034, the balance of which (including lease obligations) as at 31-12-2024 represents
\n
\u20ac1,081,621 thousand compared to \u20ac1,125,647 thousand at the end of 2023.
\n
In addition, the group's interest-bearing liabilities include other financing and liabilities to
\n
be used within the regulatory framework. As explained in Note 5.11, part of these bear
\n
interest at a 10-year OLO rate and the remainder at the average Euribor 1-year rate. The
\n
group does not incur any interest rate risks related to this.
\n
Therefore, a sensitivity analysis is not representative for the risk inherent in these financial
\n
instruments. Consequently, the Fluxys Belgium group\u2019s exposure to interest rate risk is very
\n
limited.
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag337": { "value": "\n
Liquidity Risk
\n
Liquidity risk management is one of Fluxys Belgium group\u2019s main objectives. The amounts
\n
invested and the investment period reflect the short- and long-term planning of cash
\n
needs as closely as possible, taking into account operational risks.
\n
The Fluxys Belgium group can call upon Fluxys SA in case of liquidity needs, under the
\n
cash pooling arrangements. By way of reminder, Fluxys centralises the management of
\n
the Fluxys group\u2019s cash funds and financing and has unused confirmed revolving credit
\n
facilities.
\n
The maturity of interest-bearing liabilities is reported in Note 5.11.
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag338": { "value": "\n

\n\n
Summary of financial instruments at balance sheet date
\n
The group's main financial instruments consist of financial and trade receivables and
\n
payables, short-term investments, cash and cash equivalents.
\n
The following table gives an overview of financial instruments at 31 December 2024:
\n
\n

\n\n\n\n\n

\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Summary of financial instruments at balance sheet dateIn thousands of \u20ac
31-12-2024 CategoryBook valueFair valueLevel
I. Non-current assets
Other financial assets at amortised cost A 106,04199,9521 & 2
Other financial assets at fair value through B 2,9122,9122
profit or loss
Lease receivablesA 002
Other receivablesA 18,69118,6912
II. Current assets
Lease receivablesA 002
Trade and other receivablesA 93,52193,5212
Cash investmentsA 31,67231,6482
Cash and cash equivalentsA 1,091,5431,091,5672
Total financial instruments \u2013 assets1,344,3801,338,291
I. Non-current liabilities
Interest-bearing liabilitiesA 1,002,963964,8582
Other financial liabilitiesB 2,9122,9122
II. Current liabilities
Interest-bearing liabilitiesA 52,37152,3712
Trade and other payablesA 108,959108,9592
Total financial instruments - liabilities1,167,2051,129,100
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The categories correspond to the following financial instruments:
\n
A. Financial assets or financial liabilities at amortised cost.
\n
B. Assets or liabilities at fair value through profit or loss.
\n

\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Summary of financial instruments at balance sheet dateIn thousands of \u20ac
31-12-2023 CategoryBook valueFair valueLevel
I. Non-current assets
Other financial assets at amortised cost A 107,199100,2881 & 2
Other financial assets at fair value B 4,0114,0112
through profit or loss
Other financial assets at fair value A 002
Lease receivables
Other receivablesA 21,49621,4962
II. Current assets
Lease receivablesA 1,6441,6442
Trade and other receivablesA 102,056102,0562
Cash investmentsA 32,99832,9592
Cash and cash equivalentsA 1,068,2271,068,3342
Total financial instruments \u2013 assets1,337,6311,330,788
I. Non-current liabilities
Interest-bearing liabilitiesA 1,070,3111,021,8992
Other financial liabilitiesB 4,0104,0102
II. Current liabilities
Interest-bearing liabilitiesA 55,33655,3362
Trade and other payablesA 118,956118,9562
Total financial instruments - liabilities1,248,6131,200,201
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag339": { "value": "\n
Summary of financial instruments at balance sheet date
\n
The group's main financial instruments consist of financial and trade receivables and
\n
payables, short-term investments, cash and cash equivalents.
\n
The following table gives an overview of financial instruments at 31 December 2024:
\n
\n

\n\n\n\n\n

\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Summary of financial instruments at balance sheet dateIn thousands of \u20ac
31-12-2024 CategoryBook valueFair valueLevel
I. Non-current assets
Other financial assets at amortised cost A 106,04199,9521 & 2
Other financial assets at fair value through B 2,9122,9122
profit or loss
Lease receivablesA 002
Other receivablesA 18,69118,6912
II. Current assets
Lease receivablesA 002
Trade and other receivablesA 93,52193,5212
Cash investmentsA 31,67231,6482
Cash and cash equivalentsA 1,091,5431,091,5672
Total financial instruments \u2013 assets1,344,3801,338,291
I. Non-current liabilities
Interest-bearing liabilitiesA 1,002,963964,8582
Other financial liabilitiesB 2,9122,9122
II. Current liabilities
Interest-bearing liabilitiesA 52,37152,3712
Trade and other payablesA 108,959108,9592
Total financial instruments - liabilities1,167,2051,129,100
\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The categories correspond to the following financial instruments:
\n
A. Financial assets or financial liabilities at amortised cost.
\n
B. Assets or liabilities at fair value through profit or loss.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Summary of financial instruments at balance sheet dateIn thousands of \u20ac
31-12-2023 CategoryBook valueFair valueLevel
I. Non-current assets
Other financial assets at amortised cost A 107,199100,2881 & 2
Other financial assets at fair value B 4,0114,0112
through profit or loss
Other financial assets at fair value A 002
Lease receivables
Other receivablesA 21,49621,4962
II. Current assets
Lease receivablesA 1,6441,6442
Trade and other receivablesA 102,056102,0562
Cash investmentsA 32,99832,9592
Cash and cash equivalentsA 1,068,2271,068,3342
Total financial instruments \u2013 assets1,337,6311,330,788
I. Non-current liabilities
Interest-bearing liabilitiesA 1,070,3111,021,8992
Other financial liabilitiesB 4,0104,0102
II. Current liabilities
Interest-bearing liabilitiesA 55,33655,3362
Trade and other payablesA 118,956118,9562
Total financial instruments - liabilities1,248,6131,200,201
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n

\n\n\n\n\n
All of the group's financial instruments fall within Levels 1 and 2 of the fair value hierarchy.
\n
Their fair value is measured on a recurring basis.
\n
For the fair value measurement of Level 1, only quoted prices are used (without
\n
modification) for identical assets and liabilities in active markets. They mainly include
\n
bonds.
\n
For the fair value measurement of Level 2, observable prices other than the quoted prices
\n
of Level 1 are used. The prices are observable for the asset or liability, either directly or
\n
indirectly.
\n

\n\n\n\n\n
\n
The techniques for measuring the fair value of Level 2 financial instruments are the
\n
following:
\n
\u2022 The items \u2018Interest-bearing liabilities\u2019 include the fixed-rate bonds issued by Fluxys
\n
Belgium, whose fair value is determined based on active market rates, usually
\n
provided by financial institutions.
\n
\u2022 The fair value of other financial assets and liabilities categorised under level 2 is
\n
largely identical to their book value:
\n
o because they have a short-term maturity (such as trade receivables and
\n
payables),
\n
o except for assets at amortised cost due to the increase in interest rates
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag345": { "value": "\n

\n\n

\n

\n
Note 7. Contingent assets and liabilities \u2013 rights and liabilities of the group
\n\n
Note 7.1. Litigation
\n
Ghislenghien
\n
As announced in 2011, Fluxys Belgium has undertaken, in agreement with insurers and
\n
other responsible parties, to proceed with the final compensation of private victims of the
\n
accident at Ghislenghien in 2004. All the victims who have presented themselves to date
\n
and who were entitled to compensation have been compensated.
\n
Compensation claim relating to the 'Open Rack Vaporiser' investment
\n
A compensation claim for additional works was introduced by a supplier in the scope of
\n
the 'Open Rack Vaporiser' investment made by Fluxys LNG. The latter disputes this claim
\n
and an expert was appointed to assess the case. No reliable estimate is available at this
\n
stage as the case is still being assessed. No provision has therefore been recognised as at
\n
31-12-2024.
\n
Other proceedings
\n
Other legal proceedings related to the operation of our facilities are in progress, but their
\n
expected impact is immaterial and/or such proceedings are being put on hold.
\n
Note 7.2. Assets and items held for third parties, in their name, but at the risk
\n
and for the benefit of entities included in the consolidation scope
\n
In the ordinary course of business, the Fluxys Belgium group holds gas belonging to its
\n
customers at its storage sites in Loenhout, in the pipelines and in the tanks at the LNG
\n
terminal in Zeebrugge.
\n
Note 7.3. Guarantees received
\n
Bank securities for the benefit of the group comprise guarantees received from
\n
contractors in respect of construction contracts as well as bank guarantees received
\n
from customers. At 31 December 2024, these guarantees received amounted to \u20ac133,319
\n
thousand. The expected credit losses on guarantees received are not very material for
\n
the Fluxys Belgium group.
\n

\n\n\n\n\n\n
Note 7.4. Guarantees provided by third parties on behalf of the entity
\n
Rental guarantees in favour of the owners of assets located in Belgium and leased by the
\n
group amounted to \u20ac644 thousand as at 31-12-2024.
\n
Other guarantees amounted to \u20ac265 thousand as at 31-12-2024.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n\n

\n\n
Note 7.5. Commitments under terminalling service contracts
\n
\n
Regasification services
\n
The Capacity Subscription Agreements (CSA) entered into with the users of the
\n
Zeebrugge LNG terminal provide for 110 mooring windows (slots) per contract until 2023
\n
and 88 docking windows per contract until 2027.
\n
In 2019, in addition to the aforementioned contracts, a new long-term contract was
\n
entered into with Qatar Petroleum (today Qatar Energy), subsidiary of Qatar Terminal
\n
Limited (QTL), for the remaining unloading slots until 2039 with extension option until 2044.
\n
Following optimisation of short-term slot planning since 2022 and market demand for
\n
long-term capacity, Fluxys has put 24 slots per year up for sale from April 2027 (pro rata)
\n
until 2044. Two shippers each obtained 12 slots per year for the entire duration.
\n
Consequently, the capacity of 134 slots is distributed to 3 different shippers until 2044.
\n
During the binding window of an Open Season which was held at the end of 2020 for
\n
additional regasification capacity at the Zeebrugge LNG terminal, the full 6 million tonnes
\n
per year (or c. 10.5 GWh/h) capacity on offer had been subscribed. On this basis, Fluxys
\n
LNG has taken the final investment decision to build the additional infrastructure at the
\n
Zeebrugge LNG terminal. The additional regasification capacity will be provided in two
\n
steps:
\n
- as from early 2024, a total additional capacity of 4.7 million tonnes per year
\n
has been offered,
\n
- as from early 2025 (contractually planned and subscribed from January 2026),
\n
the full additional capacity of 6 million tonnes has been commissioned.
\n
The sum of these capacities (slots and regasification) is currently equivalent to a total
\n
regasification capacity of 17 billion cubic metres per year.
\n
\n
Transshipment services
\n
In 2019, with the commissioning of the fifth tank at the Zeebrugge LNG terminal and a
\n
second jetty, Fluxys offered a transhipment service for 214 berthing rights and 180,000 m\u00b3
\n
of storage rights. The contract has a duration of 20 years (2039) and was entered into with
\n
Yamal Trade (a 100% subsidiary of Yamal LNG).
\n
Note 7.6. Other commitments
\n
Other commitments have been made and received by the Fluxys Belgium group, but
\n
their potential impact is immaterial.
\n
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n\n\n\n

\n\n
Note 7.7. Contingent regulatory assets
\n
As part of the development of hydrogen transport activities, the Fluxys Belgium Group
\n
incurred a series of costs in 2024. Although Fluxys hydrogen has been designated as the
\n
operator of the future hydrogen network, the regulatory framework had not yet been
\n
defined or approved at the balance sheet date. Nevertheless, it is expected that once
\n
this regulatory framework is defined and in force, the costs in question will be recovered
\n
via authorised revenues. Consequently, the Fluxys Belgium Group considers that it has a
\n
contingent regulatory asset of an estimated \u20ac6,600 thousand at 31-12-2024.
\n

\n\n\n\n\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag347": { "value": "\n

\n

\n
Note 7. Contingent assets and liabilities \u2013 rights and liabilities of the group
\n\n
Note 7.1. Litigation
\n
Ghislenghien
\n
As announced in 2011, Fluxys Belgium has undertaken, in agreement with insurers and
\n
other responsible parties, to proceed with the final compensation of private victims of the
\n
accident at Ghislenghien in 2004. All the victims who have presented themselves to date
\n
and who were entitled to compensation have been compensated.
\n
Compensation claim relating to the 'Open Rack Vaporiser' investment
\n
A compensation claim for additional works was introduced by a supplier in the scope of
\n
the 'Open Rack Vaporiser' investment made by Fluxys LNG. The latter disputes this claim
\n
and an expert was appointed to assess the case. No reliable estimate is available at this
\n
stage as the case is still being assessed. No provision has therefore been recognised as at
\n
31-12-2024.
\n
Other proceedings
\n
Other legal proceedings related to the operation of our facilities are in progress, but their
\n
expected impact is immaterial and/or such proceedings are being put on hold.
\n
Note 7.2. Assets and items held for third parties, in their name, but at the risk
\n
and for the benefit of entities included in the consolidation scope
\n
In the ordinary course of business, the Fluxys Belgium group holds gas belonging to its
\n
customers at its storage sites in Loenhout, in the pipelines and in the tanks at the LNG
\n
terminal in Zeebrugge.
\n
Note 7.3. Guarantees received
\n
Bank securities for the benefit of the group comprise guarantees received from
\n
contractors in respect of construction contracts as well as bank guarantees received
\n
from customers. At 31 December 2024, these guarantees received amounted to \u20ac133,319
\n
thousand. The expected credit losses on guarantees received are not very material for
\n
the Fluxys Belgium group.
\n

\n\n\n\n\n\n
Note 7.4. Guarantees provided by third parties on behalf of the entity
\n
Rental guarantees in favour of the owners of assets located in Belgium and leased by the
\n
group amounted to \u20ac644 thousand as at 31-12-2024.
\n
Other guarantees amounted to \u20ac265 thousand as at 31-12-2024.
\n

\n\n\n\n\n

\n\n\n\n\n

\n\n
Note 7.5. Commitments under terminalling service contracts
\n
\n
Regasification services
\n
The Capacity Subscription Agreements (CSA) entered into with the users of the
\n
Zeebrugge LNG terminal provide for 110 mooring windows (slots) per contract until 2023
\n
and 88 docking windows per contract until 2027.
\n
In 2019, in addition to the aforementioned contracts, a new long-term contract was
\n
entered into with Qatar Petroleum (today Qatar Energy), subsidiary of Qatar Terminal
\n
Limited (QTL), for the remaining unloading slots until 2039 with extension option until 2044.
\n
Following optimisation of short-term slot planning since 2022 and market demand for
\n
long-term capacity, Fluxys has put 24 slots per year up for sale from April 2027 (pro rata)
\n
until 2044. Two shippers each obtained 12 slots per year for the entire duration.
\n
Consequently, the capacity of 134 slots is distributed to 3 different shippers until 2044.
\n
During the binding window of an Open Season which was held at the end of 2020 for
\n
additional regasification capacity at the Zeebrugge LNG terminal, the full 6 million tonnes
\n
per year (or c. 10.5 GWh/h) capacity on offer had been subscribed. On this basis, Fluxys
\n
LNG has taken the final investment decision to build the additional infrastructure at the
\n
Zeebrugge LNG terminal. The additional regasification capacity will be provided in two
\n
steps:
\n
- as from early 2024, a total additional capacity of 4.7 million tonnes per year
\n
has been offered,
\n
- as from early 2025 (contractually planned and subscribed from January 2026),
\n
the full additional capacity of 6 million tonnes has been commissioned.
\n
The sum of these capacities (slots and regasification) is currently equivalent to a total
\n
regasification capacity of 17 billion cubic metres per year.
\n
\n
Transshipment services
\n
In 2019, with the commissioning of the fifth tank at the Zeebrugge LNG terminal and a
\n
second jetty, Fluxys offered a transhipment service for 214 berthing rights and 180,000 m\u00b3
\n
of storage rights. The contract has a duration of 20 years (2039) and was entered into with
\n
Yamal Trade (a 100% subsidiary of Yamal LNG).
\n
Note 7.6. Other commitments
\n
Other commitments have been made and received by the Fluxys Belgium group, but
\n
their potential impact is immaterial.
\n
\n

\n\n\n\n\n

\n\n\n\n\n
Note 7.7. Contingent regulatory assets
\n
As part of the development of hydrogen transport activities, the Fluxys Belgium Group
\n
incurred a series of costs in 2024. Although Fluxys hydrogen has been designated as the
\n
operator of the future hydrogen network, the regulatory framework had not yet been
\n
defined or approved at the balance sheet date. Nevertheless, it is expected that once
\n
this regulatory framework is defined and in force, the costs in question will be recovered
\n
via authorised revenues. Consequently, the Fluxys Belgium Group considers that it has a
\n
contingent regulatory asset of an estimated \u20ac6,600 thousand at 31-12-2024.
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag351": { "value": "\n
Note 7.1. Litigation
\n
Ghislenghien
\n
As announced in 2011, Fluxys Belgium has undertaken, in agreement with insurers and
\n
other responsible parties, to proceed with the final compensation of private victims of the
\n
accident at Ghislenghien in 2004. All the victims who have presented themselves to date
\n
and who were entitled to compensation have been compensated.
\n
Compensation claim relating to the 'Open Rack Vaporiser' investment
\n
A compensation claim for additional works was introduced by a supplier in the scope of
\n
the 'Open Rack Vaporiser' investment made by Fluxys LNG. The latter disputes this claim
\n
and an expert was appointed to assess the case. No reliable estimate is available at this
\n
stage as the case is still being assessed. No provision has therefore been recognised as at
\n
31-12-2024.
\n
Other proceedings
\n
Other legal proceedings related to the operation of our facilities are in progress, but their
\n
expected impact is immaterial and/or such proceedings are being put on hold.
\n
Note 7.2. Assets and items held for third parties, in their name, but at the risk
\n
and for the benefit of entities included in the consolidation scope
\n
In the ordinary course of business, the Fluxys Belgium group holds gas belonging to its
\n
customers at its storage sites in Loenhout, in the pipelines and in the tanks at the LNG
\n
terminal in Zeebrugge.
\n
Note 7.3. Guarantees received
\n
Bank securities for the benefit of the group comprise guarantees received from
\n
contractors in respect of construction contracts as well as bank guarantees received
\n
from customers. At 31 December 2024, these guarantees received amounted to \u20ac133,319
\n
thousand. The expected credit losses on guarantees received are not very material for
\n
the Fluxys Belgium group.
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag352": { "value": "\n
Note 7.4. Guarantees provided by third parties on behalf of the entity
\n
Rental guarantees in favour of the owners of assets located in Belgium and leased by the
\n
group amounted to \u20ac644 thousand as at 31-12-2024.
\n
Other guarantees amounted to \u20ac265 thousand as at 31-12-2024.
\n

\n\n\n\n\n
Note 7.5. Commitments under terminalling service contracts
\n
\n
Regasification services
\n
The Capacity Subscription Agreements (CSA) entered into with the users of the
\n
Zeebrugge LNG terminal provide for 110 mooring windows (slots) per contract until 2023
\n
and 88 docking windows per contract until 2027.
\n
In 2019, in addition to the aforementioned contracts, a new long-term contract was
\n
entered into with Qatar Petroleum (today Qatar Energy), subsidiary of Qatar Terminal
\n
Limited (QTL), for the remaining unloading slots until 2039 with extension option until 2044.
\n
Following optimisation of short-term slot planning since 2022 and market demand for
\n
long-term capacity, Fluxys has put 24 slots per year up for sale from April 2027 (pro rata)
\n
until 2044. Two shippers each obtained 12 slots per year for the entire duration.
\n
Consequently, the capacity of 134 slots is distributed to 3 different shippers until 2044.
\n
During the binding window of an Open Season which was held at the end of 2020 for
\n
additional regasification capacity at the Zeebrugge LNG terminal, the full 6 million tonnes
\n
per year (or c. 10.5 GWh/h) capacity on offer had been subscribed. On this basis, Fluxys
\n
LNG has taken the final investment decision to build the additional infrastructure at the
\n
Zeebrugge LNG terminal. The additional regasification capacity will be provided in two
\n
steps:
\n
- as from early 2024, a total additional capacity of 4.7 million tonnes per year
\n
has been offered,
\n
- as from early 2025 (contractually planned and subscribed from January 2026),
\n
the full additional capacity of 6 million tonnes has been commissioned.
\n
The sum of these capacities (slots and regasification) is currently equivalent to a total
\n
regasification capacity of 17 billion cubic metres per year.
\n
\n
Transshipment services
\n
In 2019, with the commissioning of the fifth tank at the Zeebrugge LNG terminal and a
\n
second jetty, Fluxys offered a transhipment service for 214 berthing rights and 180,000 m\u00b3
\n
of storage rights. The contract has a duration of 20 years (2039) and was entered into with
\n
Yamal Trade (a 100% subsidiary of Yamal LNG).
\n
Note 7.6. Other commitments
\n
Other commitments have been made and received by the Fluxys Belgium group, but
\n
their potential impact is immaterial.
\n
\n

\n\n\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag354": { "value": "\n
Note 8. Related parties
\n
Fluxys Belgium and its subsidiaries are controlled by Fluxys, which is itself controlled by
\n
Publigas.
\n
The consolidated financial statements include transactions performed by Fluxys Belgium
\n
and its subsidiaries in the normal course of their activities with unconsolidated related
\n
companies or associates. These transactions take place under market conditions and
\n
mainly involve transactions realised with Fluxys SA and Fluxys Europe (administrative
\n
services, IT and housing services and the management of cash funds and financing),
\n
Interconnector (UK) (inspection and repair services), IZT (IZT lease and facilities operation
\n
and maintenance services), Dunkerque LNG (IT development and other services), Gaz-
\n
Opale (terminalling services), Balansys (balancing operator), Fluxys TENP, FluxSwiss and
\n
Flux Re (reinsurance), Fluxys Byte IT (IT-services)
\n
Other related parties in the following tables concern other entities of the Fluxys group, in
\n
which Fluxys Belgium does not hold a stake.
\n
\n

\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Significant transactions with related parties
In thousands of \u20ac
as at 31-12-2024
Parent Joint Other
companyarrange-related Total
mentsparties
I. Assets with related parties1,040,76615,1025321,056,400
1. Other financial assets0000
Loans0000
2. Financial lease receivables
0000
(current and non-current)
3. Trade and other receivables15615,00053215,688
Clients15615,00053215,688
4. Cash and cash equivalents1,040,610001,040,610
5. Other current assets01020102
II. Liabilities with related parties164,79601,510166,306
1. Interest-bearing liabilities
163,73300163,733
(current and non-current)
Other borrowings163,73300163,733
2. Trade and other payables1,05408531,907
Suppliers96008351,795
Other payables94018112
3. Other current liabilities90657666
III. Transactions with related parties34,3072,58720,03656,930
1. Services rendered and goods 3,5342,02219,06124,617
delivered
2. Services received (-) -2,9510-1,653-4,604
3. Net financial income33,724565034,289
4. Directors\u2019s and senior 2,6282,628
executives\u2019 remuneration
Of which short-term benefits2,2602,260
Of which post-employment 369369
benefits
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\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Significant transactions with related parties
In thousands of \u20ac
as at 31-12-2023
Parent Joint Other related
companyarrange-partiesTotal
ments
I. Assets with related parties1,013,09113,0002,3811,028,472
1. Other financial assets03,00003,000
Loans03,00003,000
2. Financial lease receivables
001,6441,644
(current and non-current)
3. Trade and other receivables2400737977
Clients24010,000737977
4. Cash and cash equivalents1,012,851001,012,851
5. Other current assets0000
II. Liabilities with related parties188,3220674188,996
1. Interest-bearing liabilities
186,90900186,909
(current and non-current)
Other borrowings186,90900186,909
2. Trade and other payables1,4060121,418
Suppliers370037
Other payables1,3690121,381
3. Other current liabilities70662669
III. Transactions with related parties1,5821,76322,70926,054
1. Services rendered and goods 3,8601,76322,70928,332
delivered
2. Services received (-) -2,28400-2,284
3. Net financial income6006
4. Directors\u2019s and senior executives\u2019 3,0493,049
remuneration
Of which short-term benefits2,6532,653
Of which post-employment benefits396396
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\n\n\n\n\n
Note 9. Directors\u2019 and senior executives\u2019 remuneration
\n
Pursuant to Article 10 of the Articles of Association, the Board of Directors of Fluxys
\n
Belgium SA comprises at least three and no more than 24 non-executive directors.
\n
Furthermore, the 'special share' grants to the Minister the right to appoint two
\n
representatives of the federal government in the Board of Directors. Currently, two
\n
representatives of the federal government attend the meetings of the Board of Directors
\n
and the Strategic Committee.
\n
The ordinary general meeting has decided to set the remuneration of the directors and
\n
government representatives to a maximum of \u20ac360,000 (value 01-01-2007), to be
\n
allocated by the Board of Directors amongst its members, and to grant an attendance
\n
fee of \u20ac250 per meeting of the Board of Directors and advisory committees.
\n
Pursuant to Article 15 of the Articles of Association of Fluxys Belgium, the Board of
\n
Directors is authorised to pay a special remuneration to directors who carry out special
\n
duties for the entity. The Board also has the right to reimburse travel expenses and costs
\n
incurred by the members of the Board of Directors.
\n
The Fluxys Belgium group has not granted any loans to directors. In addition, the directors
\n
have not entered into unusual or abnormal transactions with the group. No shares or
\n
share options have been granted to the directors.
\n
For further information, the reader should refer to the Corporate Governance Declaration
\n
in the directors' report and to Note 8 'Related parties' for the breakdown of remuneration
\n
by category.
\n

\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag267": { "value": "\n

\n\n
Note 9. Directors\u2019 and senior executives\u2019 remuneration
\n
Pursuant to Article 10 of the Articles of Association, the Board of Directors of Fluxys
\n
Belgium SA comprises at least three and no more than 24 non-executive directors.
\n
Furthermore, the 'special share' grants to the Minister the right to appoint two
\n
representatives of the federal government in the Board of Directors. Currently, two
\n
representatives of the federal government attend the meetings of the Board of Directors
\n
and the Strategic Committee.
\n
The ordinary general meeting has decided to set the remuneration of the directors and
\n
government representatives to a maximum of \u20ac360,000 (value 01-01-2007), to be
\n
allocated by the Board of Directors amongst its members, and to grant an attendance
\n
fee of \u20ac250 per meeting of the Board of Directors and advisory committees.
\n
Pursuant to Article 15 of the Articles of Association of Fluxys Belgium, the Board of
\n
Directors is authorised to pay a special remuneration to directors who carry out special
\n
duties for the entity. The Board also has the right to reimburse travel expenses and costs
\n
incurred by the members of the Board of Directors.
\n
The Fluxys Belgium group has not granted any loans to directors. In addition, the directors
\n
have not entered into unusual or abnormal transactions with the group. No shares or
\n
share options have been granted to the directors.
\n
For further information, the reader should refer to the Corporate Governance Declaration
\n
in the directors' report and to Note 8 'Related parties' for the breakdown of remuneration
\n
by category.
\n

\n\n\n

\n\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "Tag269": { "value": "Avenue des Arts 31, 1040 Brussels", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:52990071WX2UW1WNHC16", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "footnote0": { "value": "Mainly grants to be used in the following periods", "dimensions": { "concept": "xbrl:note", "noteId": "footnote0", "language": "en" } } } }