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The principal activity of Fastned B.V. and subsidiaries (the Group) consist of the
exploitation of fast charging facilities for fully electric and hybrid cars.
The consolidated financial statements of the Group for the year ended
31\u00a0December 2025 were authorised for issue in accordance with a resolution of
the directors on 18\u00a0March 2026. Fastned B.V. is a limited company incorporated
and domiciled in the Netherlands (registered with the Dutch trade register under
number 54606179) and whose certificates are publicly traded on the trading
platform Euronext. The registered office is located at Mondriaantoren, floor 21
and 22, Amstelplein 44 in Amsterdam. The ultimate parent of the Group is the
Fastned Administratie Stichting (hereafter: FAST Foundation).
Information on the Group\u2019s structure is provided in Note 5. Information on other
related party relationships of the Group is provided in Note 26.
The annual report has been prepared in ESEF and is in accordance with the
requirements as set out in the Delegated Regulation (EU) 2019/815 with regard to
regulatory technical standards on the specification of a single electronic
reporting format (hereinafter: the RTS on ESEF).
Statement of compliance with IFRS, financial position and going
concern assumption
The financial statements have been prepared in accordance with International
Financial Reporting Standards (IFRS) as adopted by the European Union (EU).
They have been prepared under the assumption that the Group operates on a
going concern basis.
As foreseen in the business plan and long-term forecasts, the Group incurs losses
during the first years of its operations. The deficits are for a major part funded by
borrowings as well as by issuance of certificates of shares via FAST (Fastned
Administratie Stichting). At balance sheet date this resulted in an equity
amounting to \u20ac91.9 million (2024: \u20ac122.7 million) and a cash level of \u20ac69.9 million
(2024: \u20ac 117.4 million).
Management monitors cash and liquidity forecasts on a continuous basis,
whereby a minimum desired cash level is to be maintained throughout the
forecast period. The liquidity forecast incorporates current cash levels, revenue
projections and a detailed capex and opex budgets. Revenue projections are
driven by the projected numbers of Battery Electric Vehicles (BEVs) on the road
based on analyst forecasts and conservative projections of sales per station,
based on station general traffic numbers, local Battery Electric Vehicles (BEVs)
fleet penetration, catch up rates and kWh per session. In the first part of the
forecast period, Fastned has the ability to reduce capital expenditure if
necessary. These forecasts also reflect potential scenarios and management
plans 12. Fastned has access to the capital markets via the bonds issuances and
equity raises. This source of funding and potential additional sources of funding
are continuously monitored.
Based on available information at the date of this report, the liquidity forecasts
for the upcoming 18 months show adequate funds available for Fastned to
continue as a going concern. At the end of January 2026, Fastned entered into a
\u20ac100 million limited\u2011recourse senior secured facilities agreement (the \u201cTICO
Financing\u201d) to finance the development of charging stations in Belgium and
Switzerland. The addition of structured bank loans is a significant additional
source of future funds if required (refer to Note 28). As a result, management is
satisfied that a presentation of financial statements on a going concern basis is
appropriate.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-253": { "value": "The principal activity of Fastned B.V. and subsidiaries (the Group) consist of the exploitation of fast charging facilities for fully electric and hybrid cars.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-254": { "value": "Fastned B.V.", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-255": { "value": "Fastned B.V.", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-256": { "value": "
The consolidated financial statements of the Group for the year ended
31\u00a0December 2025 were authorised for issue in accordance with a resolution of
the directors on 18\u00a0March 2026. Fastned B.V. is a limited company incorporated
and domiciled in the Netherlands (registered with the Dutch trade register under
number 54606179) and whose certificates are publicly traded on the trading
platform Euronext. The registered office is located at Mondriaantoren, floor 21
and 22, Amstelplein 44 in Amsterdam. The ultimate parent of the Group is the
Fastned Administratie Stichting (hereafter: FAST Foundation).
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-257": { "value": "B.V", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-258": { "value": "Netherlands", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-259": { "value": "Netherlands", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-260": { "value": "Netherlands", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-261": { "value": "Mondriaantoren, floor 21 and 22, Amstelplein 44 in Amsterdam", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-262": { "value": "Fastned Administratie Stichting (hereafter: FAST Foundation)", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-263": { "value": "
The financial statements have been prepared in accordance with International
Financial Reporting Standards (IFRS) as adopted by the European Union (EU).
They have been prepared under the assumption that the Group operates on a
going concern basis.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-264": { "value": "
As foreseen in the business plan and long-term forecasts, the Group incurs losses
during the first years of its operations. The deficits are for a major part funded by
borrowings as well as by issuance of certificates of shares via FAST (Fastned
Administratie Stichting). At balance sheet date this resulted in an equity
amounting to \u20ac91.9 million (2024: \u20ac122.7 million) and a cash level of \u20ac69.9 million
(2024: \u20ac 117.4 million).
Management monitors cash and liquidity forecasts on a continuous basis,
whereby a minimum desired cash level is to be maintained throughout the
forecast period. The liquidity forecast incorporates current cash levels, revenue
projections and a detailed capex and opex budgets. Revenue projections are
driven by the projected numbers of Battery Electric Vehicles (BEVs) on the road
based on analyst forecasts and conservative projections of sales per station,
based on station general traffic numbers, local Battery Electric Vehicles (BEVs)
fleet penetration, catch up rates and kWh per session. In the first part of the
forecast period, Fastned has the ability to reduce capital expenditure if
necessary. These forecasts also reflect potential scenarios and management
plans 12. Fastned has access to the capital markets via the bonds issuances and
equity raises. This source of funding and potential additional sources of funding
are continuously monitored.
Based on available information at the date of this report, the liquidity forecasts
for the upcoming 18 months show adequate funds available for Fastned to
continue as a going concern. At the end of January 2026, Fastned entered into a
\u20ac100 million limited\u2011recourse senior secured facilities agreement (the \u201cTICO
Financing\u201d) to finance the development of charging stations in Belgium and
Switzerland. The addition of structured bank loans is a significant additional
source of future funds if required (refer to Note 28). As a result, management is
satisfied that a presentation of financial statements on a going concern basis is
appropriate.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-265": { "value": "Significant accounting policies
2.1 Basis of preparation
The consolidated financial statements have been prepared in accordance with
International Financial Reporting Standards (IFRS) as adopted by the European
Union (EU) and also comply with the financial reporting requirements included in
Part 9 of Book 2 of the Dutch Civil Code.
The financial statements have been prepared on the historical cost basis.
Historical cost is generally based on the fair value of the consideration at the time
of the exchange given in exchange for goods and services.
Fair value is the price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction between market participants at the
measurement date, regardless of whether that price is directly observable or
estimated using another valuation technique. In estimating the fair value of an
asset or a liability, the Group takes into account the characteristics of the asset or
liability if market participants would take those characteristics into account when
pricing the asset or liability at the measurement date. Fair value for measurement
and/or disclosure purposes in these consolidated financial statements is
determined on such a basis, except for share-based payment transactions that
are within the scope of IFRS 2, leasing transactions that are within the scope of
IFRS 16, and measurements that have some similarities to fair value but are not fair
value, such as net realisable value in IAS 2 or value in use in IAS 36.
The 2024 comparative figures have been restated for the application of change
in accounting policy of renewable energy units. See Note 2 for more details.
The financial statements are presented in Euro and all values are rounded to the
nearest thousand euro (\u20ac\u2019000), except where otherwise indicated.
2.2 Principal accounting policies
The principal accounting policies adopted are set out below.
a) Basis of consolidation
The consolidated financial statements incorporate the financial statements of
the Company and entities, including structured entities, controlled by the
Company (its subsidiaries) made up to 31 December each year.
Control is achieved when the Company:
\u2022 has the power over the investee;
\u2022 is exposed, or has rights, to variable returns from its involvement with the
investee; and
\u2022 has the ability to use its power to affect its returns.
The Company reassesses whether or not it controls an investee if facts and
circumstances indicate that there are changes to one or more of the three
elements of control listed above.
When the Company has less than a majority of the voting rights of an investee, it
considers that it has power over the investee when the voting rights are sufficient
to give it the practical ability to direct the relevant activities of the investee
unilaterally. The Company considers all relevant facts and circumstances in
assessing whether or not the Company\u2019s voting rights in an investee are sufficient
to give it power, including:
\u2022 the size of the Company\u2019s holding of voting rights relative to the size and
dispersion of holdings of the other vote holders;
\u2022 potential voting rights held by the Company, other vote holders or other
parties;
\u2022 rights arising from other contractual arrangements; and
\u2022 any additional facts and circumstances that indicate that the Company has, or
does not have, the current ability to direct the relevant activities at the time
that decisions need to be made, including voting patterns at previous
shareholders\u2019 meetings.
Consolidation of a subsidiary begins when the Company obtains control over the
subsidiary and ceases when the Company loses control of the subsidiary.
Specifically, the results of subsidiaries acquired or disposed of during the year
are included in profit or loss from the date the Company gains control until the
date when the Company ceases to control the subsidiary.
Where necessary, adjustments are made to the financial statements of
subsidiaries to bring the accounting policies used into line with the Group\u2019s
accounting policies.
All intra group assets and liabilities, equity, income, expenses and cash flows
relating to transactions between the members of the Group are eliminated on
consolidation.
Non-controlling interests in subsidiaries are identified separately from the
Group\u2019s equity therein. Those interests of non-controlling shareholders that are
present ownership interests entitling their holders to a proportionate share of net
assets upon liquidation may initially be measured at fair value or at the non-
controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s
identifiable net assets. The choice of measurement is made on an acquisition-
by-acquisition basis. Other non-controlling interests are initially measured at fair
value. Subsequent to acquisition, the carrying amount of non-controlling
interests is the amount of those interests at initial recognition plus the non-
controlling interests\u2019 share of subsequent changes in equity.
Profit or loss and each component of other comprehensive income are
attributed to the owners of the Company and to the non-controlling interests.
Total comprehensive income of the subsidiaries is attributed to the owners of the
Company and to the non-controlling interests even if this results in the non-
controlling interests having a deficit balance.
Changes in the Group\u2019s interests in subsidiaries that do not result in a loss of
control are accounted for as equity transactions. The carrying amount of the
Group\u2019s interests and the non-controlling interests are adjusted to reflect the
changes in their relative interests in the subsidiaries. Any difference between the
amount by which the non-controlling interests are adjusted and the fair value of
the consideration paid or received is recognised directly in equity and attributed
to the owners of the Company.
When the Group loses control of a subsidiary, the gain or loss on disposal
recognised in profit or loss is calculated as the difference between (i) the
aggregate of the fair value of the consideration received and the fair value of any
retained interest and (ii) the previous carrying amount of the assets (including
goodwill), less liabilities of the subsidiary and any non-controlling interests. All
amounts previously recognised in other comprehensive income in relation to that
subsidiary are accounted for as if the Group had directly disposed of the related
assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred
to another category of equity as required/permitted by applicable IFRS
Standards). The fair value of any investment retained in the former subsidiary at
the date when control is lost is regarded as the fair value on initial recognition for
subsequent accounting under IFRS 9 when applicable, or the cost on initial
recognition of an investment in an associate or a joint venture.
b) Investments in associates and joint ventures
An associate is an entity over which the Group has significant influence and that is
neither a subsidiary nor an interest in a joint venture. Significant influence is the
power to participate in the financial and operating policy decisions of the
investee but is not control or joint control over those policies.
A joint venture is a joint arrangement whereby the parties that have joint control of
the arrangement have rights to the net assets of the joint arrangement. Joint
control is the contractually agreed sharing of control of an arrangement, which
exists only when decisions about the relevant activities require unanimous
consent of the parties sharing control.
The results and assets and liabilities of associates or joint ventures are
incorporated in these financial statements using the equity method of
accounting, except when the investment is classified as held for sale, in which
case it is accounted for in accordance with IFRS 5.
Under the equity method, an investment in an associate or a joint venture is
recognised initially in the consolidated statement of financial position at cost and
adjusted thereafter to recognise the Group\u2019s share of the profit or loss and other
comprehensive income of the associate or joint venture. When the Group\u2019s share
of losses of an associate or a joint venture exceeds the Group\u2019s interest in that
associate or joint venture (which includes any long-term interests that, in
substance, form part of the Group\u2019s net investment in the associate or joint
venture), the Group discontinues recognising its share of further losses.
Additional losses are recognised only to the extent that the Group has incurred
legal or constructive obligations or made payments on behalf of the associate or
joint venture.
An investment in an associate or a joint venture is accounted for using the equity
method from the date on which the investee becomes an associate or a joint
venture. On acquisition of the investment in an associate or a joint venture, any
excess of the cost of the investment over the Group\u2019s share of the net fair value
of the identifiable assets and liabilities of the investee is recognised as goodwill,
which is included within the carrying amount of the investment. Any excess of the
Group\u2019s share of the net fair value of the identifiable assets and liabilities over the
cost of the investment, after reassessment, is recognised immediately in profit or
loss in the period in which the investment is acquired.
The requirements of IAS 36 are applied to determine whether it is necessary to
recognise any impairment loss with respect to the Group\u2019s investment in an
associate or a joint venture. When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment in accordance with IAS
36 as a single asset by comparing its recoverable amount (higher of value in use
and fair value less costs of disposal) with its carrying amount. Any impairment loss
recognised is allocated to any asset, including goodwill that forms part of the
carrying amount of the investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent that the recoverable amount
of the investment subsequently increases.
The Group discontinues the use of the equity method from the date when the
investment ceases to be an associate or a joint venture. When the Group retains
an interest in the former associate or a joint venture and the retained interest is a
financial asset, the Group measures the retained interest at fair value at that date
and the fair value is regarded as its fair value on initial recognition in accordance
with IFRS 9. The difference between the carrying amount of the associate or a
joint venture at the date the equity method was discontinued, and the fair value of
any retained interest and any proceeds from disposing of a part interest in the
associate or a joint venture is included in the determination of the gain or loss on
disposal of the associate or joint venture. In addition, the Group accounts for all
amounts previously recognised in other comprehensive income in relation to that
associate on the same basis as would be required if that associate had directly
disposed of the related assets or liabilities. Therefore, if a gain or loss previously
recognised in other comprehensive income by that associate or joint venture
would be reclassified to profit or loss on the disposal of the related assets or
liabilities, the Group reclassifies the gain or loss from equity to profit or loss (as a
reclassification adjustment) when the associate or joint venture is disposed of.
When the Group reduces its ownership interest in an associate or a joint venture
but the Group continues to use the equity method, the Group reclassifies to
profit or loss the proportion of the gain or loss that had previously been
recognised in other comprehensive income relating to that reduction in
ownership interest if that gain or loss would be reclassified to profit or loss on the
disposal of the related assets or liabilities.
When a Group entity transacts with an associate or a joint venture of the Group,
profits and losses resulting from the transactions with the associate or joint
venture are recognised in the Group\u2019s consolidated financial statements only to
the extent of interests in the associate or joint venture that are not related to the
Group.
The Group applies IFRS 9, including the impairment requirements, to long-term
interests in an associate or joint venture to which the equity method is not applied
and which form part of the net investment in the investee. Furthermore, in
applying IFRS 9 to long-term interests, the Group does not take into account
adjustments to their carrying amount required by IAS 28 (i.e. adjustments to the
carrying amount of long-term interests arising from the allocation of losses of the
investee or assessment of impairment in accordance with IAS 28).
c) Cash flow
The Company has chosen to prepare the statement of cash flows using the
indirect method, which presents cash flows from operating activities as the
income from continuing operations adjusted for non-cash transactions, deferrals
or accruals of past or future operating cash receipts or payments, and items of
income or expense associated with investing or financing cash flows. Cash flows
in foreign currencies have been translated using weighted average periodic
exchange rates. Interest paid and interest received are classified as operating
cash flows. Lease payments for short-term leases, lease payments for leases of
low-value assets and variable lease payments not included in the measurement
of the lease liability are classified as cash flows from operating activities.\u00a0 Cash
flows from government grants relating to purchase or construction of non-
current assets is classified as cash flows from financing activities in the
consolidated statement of cash flows since this is seen as a source of funding for
the Group.
d) Revenue recognition
The Group recognises revenue from the following major sources:
\u2022 Sales of electricity after the deduction of discounts and sales taxes.
\u2022 Revenue from sales of renewable energy units (for example, \"hernieuwbare
brandstofeenheden\" - renewable energy credits in the Netherlands or similar
schemes in Belgium, Germany and France).
\u2022 Revenue from construction service arrangements where Fastned constructs,
transfers and operates charging stations for public sector bodies.
\u2022 Other revenues relating to charging such as service revenues from maintaining
and operating the stations for city or provincial area authorities.
Sales of electricity
Fastned supplies electricity to owners of electric vehicles who use either the
Fastned app, a charge card, or credit/debit bank card. Revenue is recognised
when control of the electricity has transferred, being at the point the customer
charges its vehicle at a Fastned station. Payment of the transaction price is due
according to the terms applying to the payment method (Fastned app, charge
card, bank card) used by the customer purchasing the electricity. Price is
allocated to each individual charging transaction.
Fastned offers customers the choice of paying a standard price per kWh, or
subscribing to a Fastned price plan with a monthly fee and reduced price per
kWh. Monthly fee revenue is recognized in the relevant calendar month.
Sales of renewable energy units
Fastned's policy is to sell renewable energy units (\"REC's\") received from the
government in the ordinary course of business. The Group recognizes revenue
from sales of renewable energy units in accordance with IFRS 15 Revenue from
Contracts with Customers. The sale of REC's is recognized based on the
agreements between the Group and the buyers. Revenue is recognized when the
control is transferred to the buyer which is at the point in time when certificates
are delivered via the government\u2019s portal.
Other revenues related to charging
Fastned supplies services related to maintaining and operating the stations for
city or provincial area authorities. Revenue is recognized for the services
delivered over time.
Revenue from station construction as part of service concessions
Under certain contractual arrangements, Fastned constructs or upgrades
charging station infrastructure (construction or upgrade services) used to
provide a public service and operates and maintains that charging station
infrastructure (operation services) for a specified period of time. Fastned
satisfies its performance obligation by transferring the ownership of charging
stations to the customer.
Fastned charges the construction of charging stations according to the terms in
the contract. Fastned will recognize a contract asset for any work performed. Any
amount previously recognized as contract asset is reclassified to trade
receivables at the point at which it is invoiced to the customer. If the payment
exceeds the revenue recognized to date under cost-to-cost method then the
Group recognizes a contract liability for the difference. Price is allocated based
on the percentage of completion of the construction contract. Revenue from
construction of charging stations is recognised over time on a cost-to-cost
method, i.e. based on the proportion of contract costs incurred for work
performed to date relative to the estimated total contract costs. The directors
consider that this input method is an appropriate measure of the progress
towards complete satisfaction of these performance obligations under IFRS 15.
Cash flows from revenue form station construction as part of service
concessions is classified as cash flows from operating activities in the
consolidated statement of cash flows, since they relate to the construction and
operation of infrastructure used to provide a public service, representing the
primary revenue-generating activities of the entity in accordance with its role as a
service provider under IFRIC 12.
e) Leases (Group as lessee)
The Group assesses whether a contract is or contains a lease, at inception of the
contract. The Group recognises a right-of-use asset and a corresponding lease
liability with respect to all lease arrangements in which it is the lessee, except for
short-term leases (defined as leases with a lease term of 12 months or less) and
leases of low value assets (such as office equipment). For these leases, the
Group recognises the lease payments as an operating expense on a straight-line
basis over the term of the lease unless another systematic basis is more
representative of the time pattern in which economic benefits from the leased
assets are consumed.
The lease liability is initially measured at the present value of the lease payments
that are not paid at the commencement date, discounted by using the rate
implicit in the lease. If this rate cannot be readily determined, the Group uses its
incremental borrowing rate.
Lease payments included in the measurement of the lease liability comprise:
\u2022 Fixed lease payments (including in-substance fixed payments), less any lease
incentives receivable;
\u2022 Variable lease payments that depend on an index or rate, initially measured
using the index or rate at the commencement date;
\u2022 The amount expected to be payable by the lessee under residual value
guarantees;
\u2022 The exercise price of purchase options, if the lessee is reasonably certain to
exercise the options; and
\u2022 Payments of penalties for terminating the lease, if the lease term reflects the
exercise of an option to terminate the lease.
The lease liability is presented as a separate line in the consolidated statement of
financial position.
The lease liability is subsequently measured by increasing the carrying amount to
reflect interest on the lease liability (using the effective interest method) and by
reducing the carrying amount to reflect the lease payments made
When the Group revises its estimate of the term of any lease (because, for
example, it re-assesses the probability of a lessee extension or termination
option being exercised), it adjusts the carrying amount of the lease liability to
reflect the payments to make over the revised term, which are discounted using a
revised discount rate.
The Group remeasures the lease liability (and makes a corresponding adjustment
to the related right-of-use asset) whenever:
\u2022 The lease term has changed or there is a significant event or change in
circumstances resulting in a change in the assessment of exercise of a
purchase option, in which case the lease liability is remeasured by discounting
the revised lease payments using a revised discount rate;
\u2022 The lease payments change due to changes in an index or rate or a change in
expected payment under a guaranteed residual value, in which cases the lease
liability is remeasured by discounting the revised lease payments using an
unchanged discount rate (unless the lease payments change is due to a
change in a floating interest rate, in which case a revised discount rate is used);
\u2022 A lease contract is modified and the lease modification is not accounted for as
a separate lease, in which case the lease liability is remeasured based on the
lease term of the modified lease by discounting the revised lease payments
using a revised discount rate at the effective date of the modification.
The right-of-use assets comprise the initial measurement of the corresponding
lease liability, lease payments made at or before the commencement day, less
any lease incentives received and any initial direct costs. They are subsequently
measured at cost less accumulated depreciation and impairment losses.
Whenever the Group incurs an obligation for costs to dismantle and remove a
leased asset, restore the site on which it is located or restore the underlying asset
to the condition required by the terms and conditions of the lease, a provision is
recognised and measured under IAS 37. To the extent that the costs relate to a
right-of-use asset, the costs are included in the related right-of-use asset.
Right-of-use assets are depreciated over the shorter period of lease term and
useful life of the underlying asset. If a lease transfers ownership of the underlying
asset or the cost of the right-of-use asset reflects that the Group expects to
exercise a purchase option, the related right-of-use asset is depreciated over
the useful life of the underlying asset. The depreciation starts at the
commencement date of the lease.
The right-of-use assets are presented as a separate line in the consolidated
statement of financial position.
The Group applies IAS 36 to determine whether a right-of-use asset is impaired
and accounts for any identified impairment loss as described in the \u2018Property,
Plant and Equipment\u2019 policy.
Variable rents that do not depend on an index or rate are not included in the
measurement of the lease liability and the right-of-use asset. The related
payments are recognised as an expense in the period in which the event or
condition that triggers those payments occurs and are included in the line
\u201cSelling and Distribution expenses\u201d in profit or loss.
As a practical expedient, IFRS 16 permits a lessee not to separate non-lease
components, and instead account for any lease and associated non-lease
components as a single arrangement. Fastned has elected to adopt this
expedient for leases of transformers (where the lessor is responsible for
maintenance and repair services) and office leases (including service costs).
f) \u00a0 Lease (Group as Lessor)
The Group enters into lease agreements as a lessor with respect to parts of its
charging stations for commercial spaces to retailers.
Leases for which the Group is a lessor are classified as finance or operating
leases. Whenever the terms of the lease transfer substantially all the risks and
rewards of ownership to the lease, the contract is classified as a finance lease. All
other are classified as operating leases.
When the Group is an intermediate lessor, it accounts for the head lease and the
sub-lease as two separate contracts. The sub-lease is classified as a finance or
operating lease by reference to the right-of-use asset arising from the head
lease.
Rental income from operating leases is recognised on a straight-line basis over
the term of the relevant lease. Initial direct costs incurred in negotiating and
arranging an operating lease are added to the carrying amount of the leased
asset and recognised on a straight-line basis over the lease term.
Amounts due from lessees under finance leases are recognised as receivables at
the amount of the Group\u2019s net investment in the leases. Finance lease income is
allocated to accounting periods so as to reflect a constant periodic rate of return
on the Group\u2019s net investment outstanding in respect of the leases.
Subsequent to initial recognition, the Group regularly reviews the estimated
unguaranteed residual value and applies the impairment requirements of IFRS 9,
recognising an allowance for expected credit losses on the lease receivables.
Finance lease income is calculated with reference to the gross carrying amount
of the lease receivables, except for credit-impaired financial assets for which
interest income is calculated with reference to their amortised cost (i.e. after a
deduction of the loss of allowance.
When a contract includes both lease and non-lease components, the Group
applies IFRS 15 to allocate the consideration under the contract to each
component.
g) Foreign currencies
Items included in the financial statements of each of the Group\u2019s entities are
measured using the currency of the primary economic environment in which the
entity operates (\u2018the functional currency\u2019). The consolidated financial statements
are presented in Euro, which is Fastned B.V.'s functional and presentation
currency.
In preparing the financial statements of the Group entities, transactions in
currencies other than the entity\u2019s functional currency (foreign currencies) are
recognised at the rates of exchange prevailing on the dates of the transactions.
At each reporting date, monetary assets and liabilities that are denominated in
foreign currencies are retranslated at the rates prevailing at that date. Exchange
differences from monetary items as part of reporting entity's net investment in
foreign operation and denominated in the functional currency, are recognised in
other comprehensive income in the consolidated financial statements. Non-
monetary items carried at fair value that are denominated in foreign currencies
are translated at the rates prevailing at the date when the fair value was
determined. Non-monetary items that are measured in terms of historical cost in
a foreign currency are not retranslated. Exchange differences are recognised in
profit or loss in the period in which they arise.
For the purpose of presenting consolidated financial statements, the assets and
liabilities of the Group\u2019s foreign operations are translated at exchange rates
prevailing on the reporting date. Income and expense items are translated at the
average exchange rates for the period, unless exchange rates fluctuate
significantly during that period, in which case the exchange rates at the date of
transactions are used. Exchange differences arising, if any, are recognised in
other comprehensive income and accumulated in a foreign exchange translation
reserve (attributed to non-controlling interests as appropriate).
On the disposal of a foreign operation (i.e. a disposal of the Group\u2019s entire
interest in a foreign operation, or a disposal involving loss of control over a
subsidiary that includes a foreign operation or a partial disposal of an interest in a
joint arrangement or an associate that includes a foreign operation of which the
retained interest becomes a financial asset), all of the exchange differences
accumulated in a foreign exchange translation reserve in respect of that
operation attributable to the owners of the company are reclassified to profit or
loss.
In addition, in relation to a partial disposal of a subsidiary that includes a foreign
operation that does not result in the Group losing control over the subsidiary, the
proportionate share of accumulated exchange differences are re-attributed to
non-controlling interests and are not recognised in profit or loss. For all other
partial disposals (i.e. partial disposals of associates or joint arrangements that do
not result in the Group losing significant influence or joint control), the
proportionate share of the accumulated exchange differences is reclassified to
profit or loss.
Goodwill and fair value adjustments arising on the acquisition of a foreign entity
are treated as assets and liabilities of the foreign entity and translated at the
closing rate. Exchange differences arising are recognised in other
comprehensive income.
h) Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or
production of qualifying assets, which are assets that necessarily take a
substantial period of time to get ready for their intended use or sale, are added to
the cost of those assets, until such time as the assets are substantially ready for
their intended use or sale.
The Group\u2019s charging stations, including related shops and kiosks, require
significant permitting, grid connection and construction activities. The average
development period from permit submission to opening of the site exceeds 12
months. These assets are therefore considered qualifying assets.
Capitalization of borrowing costs commences on the date when building permit
is requested as the Group incurs initial expenditures associated with activities
that are necessary to prepare the site for its intended use. Fastned ceases
capitalizing borrowing costs when a site is opened as this is the moment when
substantially all activities necessary to prepare the asset for its intended use are
complete.
All other borrowing costs are recognised in profit or loss in the period in which
they are incurred.
i) \u00a0 Government grants
Government grants are not recognised until there is reasonable assurance that
the Group will comply with the conditions attaching to them and that the grants
will be received.
Government grants are recognised in profit or loss on a systematic basis over the
periods in which the Group recognises as expenses the related costs for which
the grants are intended to compensate. Specifically, government grants whose
primary condition is that the Group should purchase, construct or otherwise
acquire non-current assets (including property, plant and equipment) are
recognised within property, plant and equipment in the consolidated statement
of financial position and transferred to profit or loss on a systematic and rational
basis over the useful lives of the related assets. Cash flows from government
grants relating to purchase or construction of non-current assets is classified as
cash flows from financing activities in the consolidated statement of cash flows.
Government grants that are receivable as compensation for expenses or losses
already incurred or for the purpose of giving immediate financial support to the
Group with no future related costs are recognised in profit or loss in the period in
which they become receivable.
Renewable energy units are non-monetary government grants issued to Fastned
and are recognized in the same month where related electricity is sold to
customers, because at this point in time it would be reasonably certain that these
certificates will be received. At the initial recognition of renewable energy units,
they are measured at fair value in accordance with IAS 20 Accounting for
Government Grants and Disclosure of Government Assistance. Upon recognition
of the renewable energy units, the Group records corresponding gain in Cost of
sales. Renewable energy units granted are recognized as inventory.
j) \u00a0 Inventories
The Group obtains renewable energy units granted by the government (for
example, \"hernieuwbare brandstofeenheden\" - renewable energy credits in the
Netherlands or similar schemes in Belgium, Germany and France). Unsold RECs
are recognized as inventory as they meet the definition of an asset and are held
for sale in the ordinary course of business. These renewable energy units are
initially recognized at fair value, which is the initial cost of the units.
Fair value of renewable energy units is determined using various valuation
techniques depending on the contract terms and the country where Fastned
operates. Referencing quoted prices in active REC markets (classified as level 1 in
fair value hierarchy) is mostly applicable for deals in the Netherlands and Belgium.
Fair value is determined based on available market index with bid levels for 'other
renewable fuel unit (HBE-O) which consists of relevant published quotations.
Where observable market data is limited, the Group uses broker quotes and
observable market transactions for similar RECs (classified as level 2 in fair value
hierarchy). In the absence of observable inputs, the Group applies level 3
hierarchy valuation techniques, where RECs valued using significant
unobservable inputs due to limited market liquidity.
The subsequent measurement of RECs is at the lower of cost and net realizable
value (NRV) under IAS 2 Inventories. Net realizable value is the average market
price available at closing of the period less the estimated costs necessary to
make the sale, considering the existing sales contracts.
Other Inventory consists of high-power charging (HPC) hardware and related
technical components purchased for the fulfilment of service concession
arrangements, specifically the German Highway Tender. These items are
classified as inventory when they are held by the Group but have not yet been
transferred to the grantor\u2019s site or integrated into the construction service, at
which point the physical construction has not yet commenced. As these assets
are intended for infrastructure where legal ownership remains with the grantor,
they are not recognized as Property, Plant and Equipment (PPE). Inventory is
measured at the lower of cost and net realizable value, with cost determined on a
first-in, first-out (FIFO) basis. Upon the commencement of construction or the
delivery of the hardware to the designated site\u2014signalling the transfer of control
as part of the construction performance obligation\u2014the carrying amount of the
inventory is derecognized and recognized as a contract asset and construction
revenue, with a corresponding charge to cost of sales.
k) Retirement and termination benefit costs
Payments to defined contribution retirement benefit plans are recognised as an
expense when employees have rendered service entitling them to the
contributions. Payments made to state-managed retirement benefit plans are
accounted for as payments to defined contribution plans where the Group\u2019s
obligations under the plans are equivalent to those arising in a defined
contribution retirement benefit plan.
l) Short-term and other long-term employee benefits
A liability is recognised for benefits accruing to employees in respect of wages
and salaries, annual leave and sick leave in the period the related service is
rendered at the undiscounted amount of the benefits expected to be paid in
exchange for that service.
Liabilities recognised in respect of short-term employee benefits are measured
at the undiscounted amount of the benefits expected to be paid in exchange for
the related service.
Liabilities recognised in respect of other long-term employee benefits are
measured at the present value of the estimated future cash outflows expected to
be made by the Group in respect of services provided by employees up to the
reporting date.
m) Taxation
The income tax expense represents the sum of the tax currently payable and
deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit
differs from net profit as reported in profit or loss because it excludes items of
income or expense that are taxable or deductible in other years and it further
excludes items that are never taxable or deductible. The Group\u2019s liability for
current tax is calculated using tax rates that have been enacted or substantively
enacted by the end of the reporting period.
A provision is recognised for those matters for which the tax determination is
uncertain but it is considered probable that there will be a future outflow of funds
to a tax authority. The provisions are measured at the best estimate of the amount
expected to become payable. The assessment is based on the judgement of tax
professionals within the Company supported by previous experience in respect
of such activities and in certain cases based on specialist independent tax
advice.
Deferred tax
Deferred tax is the tax expected to be payable or recoverable on differences
between the carrying amounts of assets and liabilities in the financial statements
and the corresponding tax bases used in the computation of taxable profit, and is
accounted for using the liability method. Deferred tax liabilities are generally
recognised for all taxable temporary differences and deferred tax assets are
recognised to the extent that it is probable that taxable profits will be available
against which deductible temporary differences can be utilised. Such assets and
liabilities are not recognised if the temporary difference arises from the initial
recognition of goodwill or from the initial recognition (other than in a business
combination) of other assets and liabilities in a transaction that affects neither the
taxable profit nor the accounting profit. In addition, a deferred tax liability is not
recognised if the temporary difference arises from the initial recognition of
goodwill.
Deferred tax liabilities are recognised for taxable temporary differences arising
on investments in subsidiaries and associates, and interests in joint ventures,
except where the Group is able to control the reversal of the temporary
difference and it is probable that the temporary difference will not reverse in the
foreseeable future. Deferred tax assets arising from deductible temporary
differences associated with such investments and interests are only recognised
to the extent that it is probable that there will be sufficient taxable profits against
which to utilise the benefits of the temporary differences and they are expected
to reverse in the foreseeable future.
The carrying amount of deferred tax assets is reviewed at each reporting date
and reduced to the extent that it is no longer probable that sufficient taxable
profits will be available to allow all or part of the asset to be recovered.
Deferred tax is calculated at the tax rates that are expected to apply in the period
when the liability is settled or the asset is realised based on tax laws and rates that
have been enacted or substantively enacted at the reporting date.
The measurement of deferred tax liabilities and assets reflects the tax
consequences that would follow from the manner in which the Group expects, at
the end of the reporting period, to recover or settle the carrying amount of its
assets and liabilities.
Deferred tax assets and liabilities are offset when there is a legally enforceable
right to set off current tax assets against current tax liabilities and when they
relate to income taxes levied by the same taxation authority and the Group
intends to settle its current tax assets and liabilities on a net basis.
Where tax treatments are uncertain, if it is considered probable that a taxation
authority will accept the Group's proposed tax treatment, income taxes are
recognized consistent with the Group's income tax filings. If it is not considered
probable, the uncertainty is reflected within the carrying amount of the
applicable tax asset or liability using either the most likely amount or an expected
value, depending on which method better predicts the resolution of the
uncertainty.
Current tax and deferred tax for the year
Current and deferred tax are recognised in profit or loss, except when they relate
to items that are recognised in other comprehensive income or directly in equity,
in which case, the current and deferred tax are also recognised in other
comprehensive income or directly in equity respectively. Where current tax or
deferred tax arises from the initial accounting for a business combination, the tax
effect is included in the accounting for the business combination.
n) Property, plant and equipment
Plant, machinery, fixtures and fittings are stated at cost less accumulated
depreciation and accumulated impairment loss. This includes costs directly
attributable to putting the asset in place. Directly attributable costs include part
of the staff costs for design and construction of the locations.
Depreciation is recognised so as to write off the cost or valuation of assets (other
than freehold land and properties under construction) less their residual values
over their useful lives, using the straight-line method, on the following bases:
Charging stations and
technical installations
6.66% per year/ 15 year or
12.5% per year/ 8 years
Transformers
3.33% per year/ 30 years
Other operating assets
20% per year/ 5 years
The estimated useful lives, residual values and depreciation method are reviewed
at the end of each reporting period, with the effect of any changes in estimate
accounted for on a prospective basis. The estimated useful lives include
management judgement as policy and procedures for future tenders of Dutch
highway locations approaching concession end-date have yet to be determined
by the Government authorities.
Right-of-use assets are depreciated over the shorter period of the lease term
and the useful life of the underlying asset. If a lease transfers ownership of the
underlying asset or the cost of the right-of-use asset reflects that the Group
expects to exercise a purchase option, the related right-of-use asset is
depreciated over the useful life of the underlying asset.
An item of property, plant and equipment is derecognised upon disposal or when
no future economic benefits are expected to arise from the continued use of the
asset. The gain or loss arising on the disposal or retirement of an asset is
determined as the difference between the sales proceeds and the carrying
amount of the asset and is recognised in profit or loss.
Land and assets under construction are not depreciated. When assets under
construction are ready for their intended use, they are transferred to the relevant
category and depreciation starts.
Spare parts that meet the definition of PP&E are capitalised and accounted for
accordingly. The carrying amount of any component accounted for as a separate
asset is derecognised when replaced. All other repairs and maintenance are
charged to profit or loss during the reporting period in which they are incurred.
o) Intangible assets acquired separately
Intangible assets with finite useful lives that are acquired separately are carried at
cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised on a straight-line basis over their estimated useful
lives. The estimated useful life and amortisation method are reviewed at the end
of each reporting period, with the effect of any changes in estimate being
accounted for on a prospective basis. Intangible assets with indefinite useful
lives that are acquired separately are carried at cost less accumulated
impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less
their residual values over their useful lives, using the straight-line method, on the
following bases:
Site licences & permits
6.66% per year/ 15 year or
12.5% per year/ 8 years
Internally developed software
20% per year/ 5 years
Trademarks
20% per year/ 5 years
p) Internally-generated intangible assets \u2013 software
\u00a0 development expenditure
Expenditure on software development activities is recognised as an expense in
the period in which it is incurred.
An internally-generated intangible asset arising from development (or from the
development phase of an internal project) is recognised if, and only if, all of the
following conditions have been demonstrated:
\u2022 the technical feasibility of completing the intangible asset so that it will be
available for use or sale;
\u2022 the intention to complete the intangible asset and use or sell it;
\u2022 the ability to use or sell the intangible asset;
\u2022 how the intangible asset will generate probable future economic benefits;
\u2022 the availability of adequate technical, financial and other resources to
complete the development and to use or sell the intangible asset; and
\u2022 the ability to measure reliably the expenditure attributable to the intangible
asset during its development.
The amount initially recognised for internally-generated intangible assets is the
sum of the expenditure incurred from the date when the intangible asset first
meets the recognition criteria listed above. Where no internally-generated
intangible asset can be recognised, development expenditure is recognised in
profit or loss in the period in which it is incurred.
Subsequent to initial recognition, internally-generated intangible assets are
reported at cost less accumulated amortisation and accumulated impairment
losses, on the same basis as intangible assets that are acquired separately.
In accordance with the Dutch Civil Code and statutory requirements in other
countries, legal reserves have to be established in certain circumstances. The
Group has a legal reserve for its internally-generated software. Legal reserves are
not available for distribution to the Group\u2019s shareholders.
q) Derecognition of intangible assets
An intangible asset is derecognised on disposal, or when no future economic
benefits are expected from use or disposal. Gains or losses arising from
derecognition of an intangible asset, measured as the difference between the
net disposal proceeds and the carrying amount of the asset, are recognised in
profit or loss when the asset is derecognised.
r) \u00a0 Trademarks
Trademarks are measured initially at purchase cost and are amortised on a
straight-line basis over their estimated lives.
s) \u00a0 Impairment of property, plant and equipment
\u00a0 and intangible assets excluding goodwill
At each reporting date, the Group reviews the carrying amounts of its property,
plant and equipment and intangible assets to determine whether there is any
indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated to determine
the extent of the impairment loss (if any). Where the asset does not generate cash
flows that are independent from other assets, the Group estimates the
recoverable amount of the cash-generating unit to which the asset belongs.
When a reasonable and consistent basis of allocation can be identified,
corporate assets are also allocated to individual cash-generating units, or
otherwise they are allocated to the smallest group of cash-generating units for
which a reasonable and consistent allocation basis can be identified.
Intangible assets with an indefinite useful life are tested for impairment at least
annually and whenever there is an indication at the end of a reporting period that
the asset may be impaired.
Recoverable amount is the higher of fair value less costs of disposal and value in
use. In assessing value in use, the estimated future cash flows are discounted to
their present value using a pre-tax discount rate that reflects current market
assessments of the time value of money and the risks specific to the asset for
which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be
less than its carrying amount, the carrying amount of the asset (or cash-
generating unit) is reduced to its recoverable amount. An impairment loss is
recognised immediately in profit or loss.
Where an impairment loss subsequently reverses, the carrying amount of the
asset (or cash-generating unit) is increased to the revised estimate of its
recoverable amount, but so that the increased carrying amount does not exceed
the carrying amount that would have been determined had no impairment loss
been recognised for the asset (or cash-generating unit) in prior years. A reversal
of an impairment loss is recognised immediately in profit or loss to the extent that
it eliminates the impairment loss which has been recognised for the asset in prior
years. Any increase in excess of this amount is treated as a revaluation increase.
t) \u00a0 Financial instruments
Financial assets - Classification and measurement
The Group classifies its financial assets in the following measurement categories:
\u2022 those to be measured subsequently at fair value (either through OCI or through
profit or loss);
\u2022 those to be measured at amortised cost.
The classification depends on the entity\u2019s business model for managing the
financial assets and the contractual terms of the cash flows.
Financial assets - Recognition and derecognition
Regular purchases and sales of financial assets are recognised on the trade-
date, the date on which the Group commits to purchase or sell the asset.
Financial assets are derecognised when the rights to receive cash flows from the
financial assets have expired or have been transferred and the Group has
transferred substantially all the risks and rewards of ownership.
Financial assets - Measurements
At initial recognition the Group measures a financial asset at its fair value plus, in
the case of a financial asset not at fair value through profit or loss, transaction
costs that are directly attributable to the acquisition of the financial asset.
Transaction costs of financial assets carried at fair value through profit or loss are
expensed in profit or loss.
Debt instruments
Subsequent measurement of debt instruments depends on the Group\u2019s business
model for managing the asset and the cash flow characteristics of the asset.
There are three measurement categories into which the Group classifies its debt
instruments:
\u2022 Amortised cost
\u2022 Fair value through profit or loss
\u2022 Fair value through other comprehensive income.
The Group only has financial assets at amortised cost and makes no use of
derivative financial instruments.
Amortised cost
Assets that are held for collection of contractual cash flows where those cash
flows represent solely payments of principal and interest are measured at
amortised cost. Interest income from these financial assets is included in finance
income using the effective interest rate method. Any gain or loss arising on
derecognition is recognised directly in profit or loss and presented in other
gains/losses together with foreign exchange gains and losses.
Financial assets - Impairment
The Group assesses on a forward looking basis the expected credit losses
associated with its debt instruments carried at amortised cost.
The Group has no trade receivables nor amounts due from customers for
contract work including a significant finance component and is therefore
required to apply the simplified approach under IFRS 9, in which the credit losses
are measured using a lifetime expected loss allowance for all trade receivables
and amounts due from customers for contract work. Information about the
Group\u2019s exposure to credit risk and measurement of impairment losses for trade
receivables is included in Note 15.
Financial liabilities - Recognition and measurement
Financial liabilities are recognised when the Group becomes a party to the
contractual provisions of the financial instrument.
The Group has financial liabilities measured at amortised cost. The Group may
also issue financial guarantees, see below; it makes no use of other types of
derivative financial instruments.
Financial liabilities at amortised cost
Financial liabilities at amortised cost include trade and other payables and long-
term debt. Trade and other payables and long-term debt are initially recognised
at fair value equalling the amount required to be paid, less, when material, a
discount to reduce the payables to fair value. Subsequently, trade and other
payables and long-term debt are measured at amortised cost using the effective
interest method. Trade and other payables are classified as current liabilities due
to their short term nature, except for maturities greater than 12 months after the
end of the reporting period. These are classified as non-current liabilities.
Financial liabilities - Derecognition
The Group derecognises a financial liability when its contractual obligations are
discharged or cancelled, or expire. On derecognition of a financial liability, the
difference between the carrying amount extinguished and the consideration
paid (including any non-cash assets transferred or liabilities assumed) is
recognised in the income statement.
The Group also derecognises a financial liability when its terms are modified and
the cash flows of the modified liability are substantially different, in which case a
new financial liability based on the modified terms is recognised at fair value.
However, when the cash flows of the modified liability are not substantially
different, the Group (i) recalculates the amortised cost of the modified financial
liability by discounting the modified contractual cash flows using the original
effective interest rate and (ii) recognises any adjustment in the income
statement.
Financial guarantees
Financial guarantee contracts are recognised as a financial liability at the time the
guarantee is issued. The liability is initially measured at fair value and subsequently
at the higher of:
\u2022 the amount determined in accordance with the expected credit loss model
under IFRS\u00a09 Financial Instruments, and
\u2022 the amount initially recognised less, where appropriate, the cumulative
amount of income recognised in accordance with the principles of IFRS 15
Revenue from Contracts with Customers.
The fair value of financial guarantees is determined based on the present value of
the difference in cash flows between the contractual payments required under
the debt instrument and the payments that would be required without the
guarantee, or the estimated amount that would be payable to a third party for
assuming the obligations.
Where guarantees in relation to loans or other payables of associates are
provided for no compensation, the fair values are accounted for as contributions
and recognised as part of the cost of the investment.
'Own use'
Renewable Purchasing Contracts are classified for \u2018own use\u2019 if they are settled by
physical delivery or receipt of electricity in line with the Group\u2019s needs.
Transactions based upon these contracts are recognised through the income
statement in the period in which delivery or receipt takes place. These contracts
are out of scope of the recognition and measurement criteria for derivative
financial instruments, which is a consequence of the application of the 'own use
exemption' in IFRS 9 \u2018Financial Instruments\u2019. The Group has done an in-depth
assessment of whether these contracts qualify for the exemption.
Offsetting financial instruments
Financial assets and liabilities are offset and the net amount reported in the
balance sheet when there is a legally enforceable right to offset the recognised
amounts and there is an intention to settle on a net basis or realise the asset and
settle the liability simultaneously. The Group and its counterparties do not have
any legally enforceable right to offset the recognised amounts in the balance
sheet.
Finance costs
Finance expenses comprise interest expenses on interest-bearing loans and
borrowings and lease liabilities, and other financial expenses. Interest expenses
on interest-bearing loans and lease liabilities are recognized\u00a0 in the statement of
profit and loss as they accrue, using the effective interest method.
u) Provisions
Provisions are recognised when the Group has a present obligation (legal or
constructive) as a result of a past event, it is probable that the Group will be
required to settle that obligation and a reliable estimate can be made of the
amount of the obligation. The Group records provisions for decommissioning
costs of charging stations, see Note 22 for details.
The amount recognised as a provision is the best estimate of the consideration
required to settle the present obligation at the reporting date, taking into
account the risks and uncertainties surrounding the obligation. Where a provision
is measured using the cash flows estimated to settle the present obligation, its
carrying amount is the present value of those cash flows (when the effect of the
time value of money is material).
When some or all of the economic benefits required to settle a provision are
expected to be recovered from a third party, a receivable is recognised as an
asset if it is virtually certain that reimbursement will be received and the amount of
the receivable can be measured reliably.
v) Deferred revenue
The Group operates a Founders club through which early large investors in
Fastned have the right to charge their EV\u2019s at Fastned for free, i.e.. at a 100%
discount on the regular price for the rest of their lives. This right is a material right,
and the promise to provide the 100% discount to the Founders is therefore a
separate future performance obligation for which deferred income is recognised
in the balance sheet.
Fastned allocates the transaction price to the performance obligation based on
a relative stand-alone selling price basis, including an estimate of the future
performance required by the customer. Revenue is recognized when electricity is
supplied to the customer and the performance obligation is satisfied.
w) Share-based payments
Share-based payment transactions of the Group
Equity-settled share-based payments to employees and others providing similar
services are measured at the fair value of the equity instruments at the grant date.
Significant management judgement is applied to determine the service
commencement date. There is no service commencement date recognised
before the grant date as management has significant and binding discretionary
rights in the execution of the option plan once the milestone is achieved. As a
result, no constructive or legal obligation is present before the grant date. The
option plan is recognised at a specific date. Details regarding the determination
of the fair value of these equity-settled share-based transactions are set out in
Note 24.
The previous option plan and a small portion of the current option plan for
Belgium employees incorporate vesting conditions. For these options, the fair
value determined at the grant date of the equity-settled share-based payments
is expensed on a straight-line basis over the vesting period, based on the Group\u2019s
estimate of the number of equity instruments that will eventually vest. At each
reporting date, the Group revises its estimate of the number of equity
instruments expected to vest as a result of the effect of non-market-based
vesting conditions. The impact of the revision of the original estimates, if any, is
recognised in profit or loss such that the cumulative expense reflects the revised
estimate, with a corresponding adjustment to reserves.
x) Contract Assets
Contract assets represent the Group\u2019s right to consideration for construction
services transferred to the grantor that are not yet unconditional. In accordance
with IFRIC 12 and IFRS 15, construction revenue is recognized over time using the
cost-based input method, as the Group\u2019s performance enhances an asset
controlled by the grantor. Contract assets are measured as accumulated
construction revenue\u2014including the procurement and delivery of high-power
charging (HPC) hardware to the site. Once the construction and technical
commissioning reach the contractually defined milestone of operational release,
the contract asset is derecognized and reclassified as a financial asset
(receivable) to the extent of the unconditional right to receive the installation and
operator fees.
2.3 Changes in accounting policies
The Group has applied a change in accounting policy of renewable energy units.
The new accounting policy provides reliable and more relevant information
regarding the REC's granted by the government to Fastned. Initial recognition of
renewable energy units through fair value provides a transparent view to the value
of environmental credits granted. This improves the view of the true stock of
environmental assets on the balance sheet and the margin realized when
renewable energy units are sold. The change in accounting policy enhances
comparability of key metrics across the companies in the EV charging industry.
See Note 2 for the accounting policy selected for initial and subsequent
measurement and sale of renewable energy units.
The change in accounting policy has been applied for the periods beginning on or
after January 1, 2025. We applied full retrospective approach, and, therefore, the
comparative figures for the 2024 financial year have been restated as presented
below.
As a result, the Group has recognized inventory on the balance sheet. On the
income statement, there are changes to the cost of sales reflecting the value of
the compensation of the costs incurred. Changes to revenue recognition reflect
the timing between the grant date of REC's, price development of the REC's and
margin realized when assets are sold. Previously, revenue was recognized at the
contract date of the sale, as most of the earlier contracts were less detailed on
the moment of transfer of control.
The change in accounting policy did not have a material effect on the balance
sheet as per January 1, 2024.
Consolidated income statement - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Revenue
86,736
(2,957)
83,779
Cost of sales
(18,149)
2,957
(15,192)
Gross profit
68,587
\u2014
68,587
Operating expenses
(84,652)
\u2014
(84,652)
Operating loss
(16,065)
\u2014
(16,065)
Finance cost
(15,042)
\u2014
(15,042)
Finance income
4,107
\u2014
4,107
Loss before tax
(27,000)
\u2014
(27,000)
Income tax
359
\u2014
359
Loss for the year
(26,641)
\u2014
(26,641)
Attributable to equity holders of the
Group
(26,641)
\u2014
(26,641)
Earnings per share (\u20ac/share)
Basic, loss for the year attributable to
ordinary equity holders of the Group
(1.38)
\u2014
(1.38)
Diluted, loss for the year attributable to
ordinary equity holders of the Group
(1.38)
\u2014
(1.38)
Consolidated balance sheet - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Non-current assets
275,185
\u2014
275,185
Current assets
Current financial assets
150
\u2014
150
Inventory
\u2014
4,417
4,417
Contract assets
433
\u2014
433
Prepayments
12,797
\u2014
12,797
Trade and other receivables
20,714
(4,417)
16,297
Cash and cash equivalents
117,416
\u2014
117,416
Total assets
426,695
\u2014
426,695
Equity
122,693
\u2014
122,693
Non-current liabilities
256,751
\u2014
256,751
Current liabilities
47,251
\u2014
47,251
Total liabilities
304,002
\u2014
304,002
Total equity and liabilities
426,695
\u2014
426,695
Consolidated statement of cash flow - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Loss before tax
(27,000)
\u2014
(27,000)
Adjustments to reconcile loss before
taxation to net cash provided by
operating activities:
26,517
\u2014
26,517
Working capital adjustments:
Movement in Inventory
\u2014
(2,957)
(2,957)
Movement in trade and other receivables
and prepayments
(9,301)
2,957
(6,344)
Movement in trade and other payables
2,175
\u2014
2,175
Net cash flows from operating activities
(7,609)
\u2014
(7,609)
Net cash flows used in investing
activities
(68,042)
\u2014
(68,042)
Net cash flows from / (used in) financing
activities
66,975
\u2014
66,975
Currency translation differences relating
to cash and cash equivalents
(511)
\u2014
(511)
Change in cash and cash equivalents
(9,188)
\u2014
(9,188)
Cash and cash equivalents at 1 January
126,604
\u2014
126,604
Cash and cash equivalents at 31
December
117,416
\u2014
117,416
2.4 New or revised Standards or Interpretations
adopted as at 1 January 2025
The amendments listed below have been adopted but do not have any effect on
the Group's consolidated financial statements:
\u2022 Amendments to IAS 21 - Lack of exchangeability
Certain new accounting standards and interpretations have been published that
are not mandatory for 31 December 2025 reporting periods and have not been
early adopted by the Group. These standards are not expected to have a material
impact on the entity in the current or future reporting periods and on foreseeable
future transactions.
Early adoption of amendments to IFRS 9 and IFRS 7
In December 2024, the IASB issued amendments to IFRS 9 and IFRS 7 regarding
contracts referencing nature-dependent electricity. These amendments clarify
the application of the \u2018own use\u2019 exception and hedge accounting for contracts
where the amount of electricity generated is influenced by uncontrollable natural
factors, such as wind or solar conditions. The amendments provide guidance on
assessing whether physical power purchase agreements (PPAs) qualify for the
\u2018own use\u2019 exception and introduce new disclosure requirements for these
contracts.
Key changes to the 'own use' exception under IFRS 9 include new application
guidance and qualifying criteria for physical PPAs. To qualify, the contract must
require purchasing and taking delivery of generated electricity, expose the entity
to buying electricity it can't use, and necessitate selling unused electricity due to
market conditions. The entity must also show it's historically been and expects to
remain a net purchaser of electricity.
The amendments are effective for annual periods beginning on or after 1 January
2026, with early adoption permitted.
The Group has elected to early adopt these amendments. The amendments are
applied for the annual period beginning 1 January 2025.
The adoption of these amendments clarifies and reinforces the criteria for this
assessment, specifically confirming that the variability in volume and the
necessity of selling unused electricity do not preclude the \u2018own-use\u2019
designation, provided the entity remains a net purchaser. As the Group\u2019s existing
accounting treatment for these contracts already aligns with the clarified
guidance provided by the amendments, the early adoption has no impact on the
recognized amounts in the consolidated financial statements for the current or
prior periods. The Group has updated its assessment procedures to align with the
new application guidance, ensuring continued compliance as the portfolio of
nature-dependent energy contracts expands.
Please refer to Note 15.6 'Financial risk management objectives and policies' for
detailed disclosure regarding contracts referencing nature-dependent
electricity.
2.5 Standards and interpretations issued
but\u00a0not yet effective
At the date of authorisation of these financial statements, the Group has not
applied the following new and revised IFRS Standards that have been issued but
are not yet effective, and, in some cases, had not yet been adopted by the EU:
IFRS 18
Presentation and Disclosure in Financial
Statements
IFRS 19
Subsidiaries without Public Accountability:
Disclosures
Amendments to IAS 21
Amendments to the Translation to a
hyperinflationary presentation currency
Amendments to IFRS 19
Amendments to Subsidiaries without Public
Accountability
These standards or amendments are effective 01 January 2027. The Group
intends to adopt these standards once\u00a0 it becomes a requirement.
For the remaining standards, The Company does not expect a material impact on
the financial statements due to adoption of these amendments and new IFRS
accounting standards, apart for the application of the new presentation
requirements arising from the adoption of IFRS 18, which is currently being
assessed.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-266": { "value": "Basis of preparation
The consolidated financial statements have been prepared in accordance with
International Financial Reporting Standards (IFRS) as adopted by the European
Union (EU) and also comply with the financial reporting requirements included in
Part 9 of Book 2 of the Dutch Civil Code.
The financial statements have been prepared on the historical cost basis.
Historical cost is generally based on the fair value of the consideration at the time
of the exchange given in exchange for goods and services.
Fair value is the price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction between market participants at the
measurement date, regardless of whether that price is directly observable or
estimated using another valuation technique. In estimating the fair value of an
asset or a liability, the Group takes into account the characteristics of the asset or
liability if market participants would take those characteristics into account when
pricing the asset or liability at the measurement date. Fair value for measurement
and/or disclosure purposes in these consolidated financial statements is
determined on such a basis, except for share-based payment transactions that
are within the scope of IFRS 2, leasing transactions that are within the scope of
IFRS 16, and measurements that have some similarities to fair value but are not fair
value, such as net realisable value in IAS 2 or value in use in IAS 36.
The 2024 comparative figures have been restated for the application of change
in accounting policy of renewable energy units. See Note 2 for more details.
The financial statements are presented in Euro and all values are rounded to the
nearest thousand euro (\u20ac\u2019000), except where otherwise indicated.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-270": { "value": "Basis of consolidation
The consolidated financial statements incorporate the financial statements of
the Company and entities, including structured entities, controlled by the
Company (its subsidiaries) made up to 31 December each year.
Control is achieved when the Company:
\u2022 has the power over the investee;
\u2022 is exposed, or has rights, to variable returns from its involvement with the
investee; and
\u2022 has the ability to use its power to affect its returns.
The Company reassesses whether or not it controls an investee if facts and
circumstances indicate that there are changes to one or more of the three
elements of control listed above.
When the Company has less than a majority of the voting rights of an investee, it
considers that it has power over the investee when the voting rights are sufficient
to give it the practical ability to direct the relevant activities of the investee
unilaterally. The Company considers all relevant facts and circumstances in
assessing whether or not the Company\u2019s voting rights in an investee are sufficient
to give it power, including:
\u2022 the size of the Company\u2019s holding of voting rights relative to the size and
dispersion of holdings of the other vote holders;
\u2022 potential voting rights held by the Company, other vote holders or other
parties;
\u2022 rights arising from other contractual arrangements; and
\u2022 any additional facts and circumstances that indicate that the Company has, or
does not have, the current ability to direct the relevant activities at the time
that decisions need to be made, including voting patterns at previous
shareholders\u2019 meetings.
Consolidation of a subsidiary begins when the Company obtains control over the
subsidiary and ceases when the Company loses control of the subsidiary.
Specifically, the results of subsidiaries acquired or disposed of during the year
are included in profit or loss from the date the Company gains control until the
date when the Company ceases to control the subsidiary.
Where necessary, adjustments are made to the financial statements of
subsidiaries to bring the accounting policies used into line with the Group\u2019s
accounting policies.
All intra group assets and liabilities, equity, income, expenses and cash flows
relating to transactions between the members of the Group are eliminated on
consolidation.
Non-controlling interests in subsidiaries are identified separately from the
Group\u2019s equity therein. Those interests of non-controlling shareholders that are
present ownership interests entitling their holders to a proportionate share of net
assets upon liquidation may initially be measured at fair value or at the non-
controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s
identifiable net assets. The choice of measurement is made on an acquisition-
by-acquisition basis. Other non-controlling interests are initially measured at fair
value. Subsequent to acquisition, the carrying amount of non-controlling
interests is the amount of those interests at initial recognition plus the non-
controlling interests\u2019 share of subsequent changes in equity.
Profit or loss and each component of other comprehensive income are
attributed to the owners of the Company and to the non-controlling interests.
Total comprehensive income of the subsidiaries is attributed to the owners of the
Company and to the non-controlling interests even if this results in the non-
controlling interests having a deficit balance.
Changes in the Group\u2019s interests in subsidiaries that do not result in a loss of
control are accounted for as equity transactions. The carrying amount of the
Group\u2019s interests and the non-controlling interests are adjusted to reflect the
changes in their relative interests in the subsidiaries. Any difference between the
amount by which the non-controlling interests are adjusted and the fair value of
the consideration paid or received is recognised directly in equity and attributed
to the owners of the Company.
When the Group loses control of a subsidiary, the gain or loss on disposal
recognised in profit or loss is calculated as the difference between (i) the
aggregate of the fair value of the consideration received and the fair value of any
retained interest and (ii) the previous carrying amount of the assets (including
goodwill), less liabilities of the subsidiary and any non-controlling interests. All
amounts previously recognised in other comprehensive income in relation to that
subsidiary are accounted for as if the Group had directly disposed of the related
assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred
to another category of equity as required/permitted by applicable IFRS
Standards). The fair value of any investment retained in the former subsidiary at
the date when control is lost is regarded as the fair value on initial recognition for
subsequent accounting under IFRS 9 when applicable, or the cost on initial
recognition of an investment in an associate or a joint venture.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-269": { "value": "Basis of consolidation
The consolidated financial statements incorporate the financial statements of
the Company and entities, including structured entities, controlled by the
Company (its subsidiaries) made up to 31 December each year.
Control is achieved when the Company:
\u2022 has the power over the investee;
\u2022 is exposed, or has rights, to variable returns from its involvement with the
investee; and
\u2022 has the ability to use its power to affect its returns.
The Company reassesses whether or not it controls an investee if facts and
circumstances indicate that there are changes to one or more of the three
elements of control listed above.
When the Company has less than a majority of the voting rights of an investee, it
considers that it has power over the investee when the voting rights are sufficient
to give it the practical ability to direct the relevant activities of the investee
unilaterally. The Company considers all relevant facts and circumstances in
assessing whether or not the Company\u2019s voting rights in an investee are sufficient
to give it power, including:
\u2022 the size of the Company\u2019s holding of voting rights relative to the size and
dispersion of holdings of the other vote holders;
\u2022 potential voting rights held by the Company, other vote holders or other
parties;
\u2022 rights arising from other contractual arrangements; and
\u2022 any additional facts and circumstances that indicate that the Company has, or
does not have, the current ability to direct the relevant activities at the time
that decisions need to be made, including voting patterns at previous
shareholders\u2019 meetings.
Consolidation of a subsidiary begins when the Company obtains control over the
subsidiary and ceases when the Company loses control of the subsidiary.
Specifically, the results of subsidiaries acquired or disposed of during the year
are included in profit or loss from the date the Company gains control until the
date when the Company ceases to control the subsidiary.
Where necessary, adjustments are made to the financial statements of
subsidiaries to bring the accounting policies used into line with the Group\u2019s
accounting policies.
All intra group assets and liabilities, equity, income, expenses and cash flows
relating to transactions between the members of the Group are eliminated on
consolidation.
Non-controlling interests in subsidiaries are identified separately from the
Group\u2019s equity therein. Those interests of non-controlling shareholders that are
present ownership interests entitling their holders to a proportionate share of net
assets upon liquidation may initially be measured at fair value or at the non-
controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s
identifiable net assets. The choice of measurement is made on an acquisition-
by-acquisition basis. Other non-controlling interests are initially measured at fair
value. Subsequent to acquisition, the carrying amount of non-controlling
interests is the amount of those interests at initial recognition plus the non-
controlling interests\u2019 share of subsequent changes in equity.
Profit or loss and each component of other comprehensive income are
attributed to the owners of the Company and to the non-controlling interests.
Total comprehensive income of the subsidiaries is attributed to the owners of the
Company and to the non-controlling interests even if this results in the non-
controlling interests having a deficit balance.
Changes in the Group\u2019s interests in subsidiaries that do not result in a loss of
control are accounted for as equity transactions. The carrying amount of the
Group\u2019s interests and the non-controlling interests are adjusted to reflect the
changes in their relative interests in the subsidiaries. Any difference between the
amount by which the non-controlling interests are adjusted and the fair value of
the consideration paid or received is recognised directly in equity and attributed
to the owners of the Company.
When the Group loses control of a subsidiary, the gain or loss on disposal
recognised in profit or loss is calculated as the difference between (i) the
aggregate of the fair value of the consideration received and the fair value of any
retained interest and (ii) the previous carrying amount of the assets (including
goodwill), less liabilities of the subsidiary and any non-controlling interests. All
amounts previously recognised in other comprehensive income in relation to that
subsidiary are accounted for as if the Group had directly disposed of the related
assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred
to another category of equity as required/permitted by applicable IFRS
Standards). The fair value of any investment retained in the former subsidiary at
the date when control is lost is regarded as the fair value on initial recognition for
subsequent accounting under IFRS 9 when applicable, or the cost on initial
recognition of an investment in an associate or a joint venture.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-268": { "value": "Basis of consolidation
The consolidated financial statements incorporate the financial statements of
the Company and entities, including structured entities, controlled by the
Company (its subsidiaries) made up to 31 December each year.
Control is achieved when the Company:
\u2022 has the power over the investee;
\u2022 is exposed, or has rights, to variable returns from its involvement with the
investee; and
\u2022 has the ability to use its power to affect its returns.
The Company reassesses whether or not it controls an investee if facts and
circumstances indicate that there are changes to one or more of the three
elements of control listed above.
When the Company has less than a majority of the voting rights of an investee, it
considers that it has power over the investee when the voting rights are sufficient
to give it the practical ability to direct the relevant activities of the investee
unilaterally. The Company considers all relevant facts and circumstances in
assessing whether or not the Company\u2019s voting rights in an investee are sufficient
to give it power, including:
\u2022 the size of the Company\u2019s holding of voting rights relative to the size and
dispersion of holdings of the other vote holders;
\u2022 potential voting rights held by the Company, other vote holders or other
parties;
\u2022 rights arising from other contractual arrangements; and
\u2022 any additional facts and circumstances that indicate that the Company has, or
does not have, the current ability to direct the relevant activities at the time
that decisions need to be made, including voting patterns at previous
shareholders\u2019 meetings.
Consolidation of a subsidiary begins when the Company obtains control over the
subsidiary and ceases when the Company loses control of the subsidiary.
Specifically, the results of subsidiaries acquired or disposed of during the year
are included in profit or loss from the date the Company gains control until the
date when the Company ceases to control the subsidiary.
Where necessary, adjustments are made to the financial statements of
subsidiaries to bring the accounting policies used into line with the Group\u2019s
accounting policies.
All intra group assets and liabilities, equity, income, expenses and cash flows
relating to transactions between the members of the Group are eliminated on
consolidation.
Non-controlling interests in subsidiaries are identified separately from the
Group\u2019s equity therein. Those interests of non-controlling shareholders that are
present ownership interests entitling their holders to a proportionate share of net
assets upon liquidation may initially be measured at fair value or at the non-
controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s
identifiable net assets. The choice of measurement is made on an acquisition-
by-acquisition basis. Other non-controlling interests are initially measured at fair
value. Subsequent to acquisition, the carrying amount of non-controlling
interests is the amount of those interests at initial recognition plus the non-
controlling interests\u2019 share of subsequent changes in equity.
Profit or loss and each component of other comprehensive income are
attributed to the owners of the Company and to the non-controlling interests.
Total comprehensive income of the subsidiaries is attributed to the owners of the
Company and to the non-controlling interests even if this results in the non-
controlling interests having a deficit balance.
Changes in the Group\u2019s interests in subsidiaries that do not result in a loss of
control are accounted for as equity transactions. The carrying amount of the
Group\u2019s interests and the non-controlling interests are adjusted to reflect the
changes in their relative interests in the subsidiaries. Any difference between the
amount by which the non-controlling interests are adjusted and the fair value of
the consideration paid or received is recognised directly in equity and attributed
to the owners of the Company.
When the Group loses control of a subsidiary, the gain or loss on disposal
recognised in profit or loss is calculated as the difference between (i) the
aggregate of the fair value of the consideration received and the fair value of any
retained interest and (ii) the previous carrying amount of the assets (including
goodwill), less liabilities of the subsidiary and any non-controlling interests. All
amounts previously recognised in other comprehensive income in relation to that
subsidiary are accounted for as if the Group had directly disposed of the related
assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred
to another category of equity as required/permitted by applicable IFRS
Standards). The fair value of any investment retained in the former subsidiary at
the date when control is lost is regarded as the fair value on initial recognition for
subsequent accounting under IFRS 9 when applicable, or the cost on initial
recognition of an investment in an associate or a joint venture.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-267": { "value": "Basis of consolidation
The consolidated financial statements incorporate the financial statements of
the Company and entities, including structured entities, controlled by the
Company (its subsidiaries) made up to 31 December each year.
Control is achieved when the Company:
\u2022 has the power over the investee;
\u2022 is exposed, or has rights, to variable returns from its involvement with the
investee; and
\u2022 has the ability to use its power to affect its returns.
The Company reassesses whether or not it controls an investee if facts and
circumstances indicate that there are changes to one or more of the three
elements of control listed above.
When the Company has less than a majority of the voting rights of an investee, it
considers that it has power over the investee when the voting rights are sufficient
to give it the practical ability to direct the relevant activities of the investee
unilaterally. The Company considers all relevant facts and circumstances in
assessing whether or not the Company\u2019s voting rights in an investee are sufficient
to give it power, including:
\u2022 the size of the Company\u2019s holding of voting rights relative to the size and
dispersion of holdings of the other vote holders;
\u2022 potential voting rights held by the Company, other vote holders or other
parties;
\u2022 rights arising from other contractual arrangements; and
\u2022 any additional facts and circumstances that indicate that the Company has, or
does not have, the current ability to direct the relevant activities at the time
that decisions need to be made, including voting patterns at previous
shareholders\u2019 meetings.
Consolidation of a subsidiary begins when the Company obtains control over the
subsidiary and ceases when the Company loses control of the subsidiary.
Specifically, the results of subsidiaries acquired or disposed of during the year
are included in profit or loss from the date the Company gains control until the
date when the Company ceases to control the subsidiary.
Where necessary, adjustments are made to the financial statements of
subsidiaries to bring the accounting policies used into line with the Group\u2019s
accounting policies.
All intra group assets and liabilities, equity, income, expenses and cash flows
relating to transactions between the members of the Group are eliminated on
consolidation.
Non-controlling interests in subsidiaries are identified separately from the
Group\u2019s equity therein. Those interests of non-controlling shareholders that are
present ownership interests entitling their holders to a proportionate share of net
assets upon liquidation may initially be measured at fair value or at the non-
controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s
identifiable net assets. The choice of measurement is made on an acquisition-
by-acquisition basis. Other non-controlling interests are initially measured at fair
value. Subsequent to acquisition, the carrying amount of non-controlling
interests is the amount of those interests at initial recognition plus the non-
controlling interests\u2019 share of subsequent changes in equity.
Profit or loss and each component of other comprehensive income are
attributed to the owners of the Company and to the non-controlling interests.
Total comprehensive income of the subsidiaries is attributed to the owners of the
Company and to the non-controlling interests even if this results in the non-
controlling interests having a deficit balance.
Changes in the Group\u2019s interests in subsidiaries that do not result in a loss of
control are accounted for as equity transactions. The carrying amount of the
Group\u2019s interests and the non-controlling interests are adjusted to reflect the
changes in their relative interests in the subsidiaries. Any difference between the
amount by which the non-controlling interests are adjusted and the fair value of
the consideration paid or received is recognised directly in equity and attributed
to the owners of the Company.
When the Group loses control of a subsidiary, the gain or loss on disposal
recognised in profit or loss is calculated as the difference between (i) the
aggregate of the fair value of the consideration received and the fair value of any
retained interest and (ii) the previous carrying amount of the assets (including
goodwill), less liabilities of the subsidiary and any non-controlling interests. All
amounts previously recognised in other comprehensive income in relation to that
subsidiary are accounted for as if the Group had directly disposed of the related
assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred
to another category of equity as required/permitted by applicable IFRS
Standards). The fair value of any investment retained in the former subsidiary at
the date when control is lost is regarded as the fair value on initial recognition for
subsequent accounting under IFRS 9 when applicable, or the cost on initial
recognition of an investment in an associate or a joint venture.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-273": { "value": "Investments in associates and joint ventures
An associate is an entity over which the Group has significant influence and that is
neither a subsidiary nor an interest in a joint venture. Significant influence is the
power to participate in the financial and operating policy decisions of the
investee but is not control or joint control over those policies.
A joint venture is a joint arrangement whereby the parties that have joint control of
the arrangement have rights to the net assets of the joint arrangement. Joint
control is the contractually agreed sharing of control of an arrangement, which
exists only when decisions about the relevant activities require unanimous
consent of the parties sharing control.
The results and assets and liabilities of associates or joint ventures are
incorporated in these financial statements using the equity method of
accounting, except when the investment is classified as held for sale, in which
case it is accounted for in accordance with IFRS 5.
Under the equity method, an investment in an associate or a joint venture is
recognised initially in the consolidated statement of financial position at cost and
adjusted thereafter to recognise the Group\u2019s share of the profit or loss and other
comprehensive income of the associate or joint venture. When the Group\u2019s share
of losses of an associate or a joint venture exceeds the Group\u2019s interest in that
associate or joint venture (which includes any long-term interests that, in
substance, form part of the Group\u2019s net investment in the associate or joint
venture), the Group discontinues recognising its share of further losses.
Additional losses are recognised only to the extent that the Group has incurred
legal or constructive obligations or made payments on behalf of the associate or
joint venture.
An investment in an associate or a joint venture is accounted for using the equity
method from the date on which the investee becomes an associate or a joint
venture. On acquisition of the investment in an associate or a joint venture, any
excess of the cost of the investment over the Group\u2019s share of the net fair value
of the identifiable assets and liabilities of the investee is recognised as goodwill,
which is included within the carrying amount of the investment. Any excess of the
Group\u2019s share of the net fair value of the identifiable assets and liabilities over the
cost of the investment, after reassessment, is recognised immediately in profit or
loss in the period in which the investment is acquired.
The requirements of IAS 36 are applied to determine whether it is necessary to
recognise any impairment loss with respect to the Group\u2019s investment in an
associate or a joint venture. When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment in accordance with IAS
36 as a single asset by comparing its recoverable amount (higher of value in use
and fair value less costs of disposal) with its carrying amount. Any impairment loss
recognised is allocated to any asset, including goodwill that forms part of the
carrying amount of the investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent that the recoverable amount
of the investment subsequently increases.
The Group discontinues the use of the equity method from the date when the
investment ceases to be an associate or a joint venture. When the Group retains
an interest in the former associate or a joint venture and the retained interest is a
financial asset, the Group measures the retained interest at fair value at that date
and the fair value is regarded as its fair value on initial recognition in accordance
with IFRS 9. The difference between the carrying amount of the associate or a
joint venture at the date the equity method was discontinued, and the fair value of
any retained interest and any proceeds from disposing of a part interest in the
associate or a joint venture is included in the determination of the gain or loss on
disposal of the associate or joint venture. In addition, the Group accounts for all
amounts previously recognised in other comprehensive income in relation to that
associate on the same basis as would be required if that associate had directly
disposed of the related assets or liabilities. Therefore, if a gain or loss previously
recognised in other comprehensive income by that associate or joint venture
would be reclassified to profit or loss on the disposal of the related assets or
liabilities, the Group reclassifies the gain or loss from equity to profit or loss (as a
reclassification adjustment) when the associate or joint venture is disposed of.
When the Group reduces its ownership interest in an associate or a joint venture
but the Group continues to use the equity method, the Group reclassifies to
profit or loss the proportion of the gain or loss that had previously been
recognised in other comprehensive income relating to that reduction in
ownership interest if that gain or loss would be reclassified to profit or loss on the
disposal of the related assets or liabilities.
When a Group entity transacts with an associate or a joint venture of the Group,
profits and losses resulting from the transactions with the associate or joint
venture are recognised in the Group\u2019s consolidated financial statements only to
the extent of interests in the associate or joint venture that are not related to the
Group.
The Group applies IFRS 9, including the impairment requirements, to long-term
interests in an associate or joint venture to which the equity method is not applied
and which form part of the net investment in the investee. Furthermore, in
applying IFRS 9 to long-term interests, the Group does not take into account
adjustments to their carrying amount required by IAS 28 (i.e. adjustments to the
carrying amount of long-term interests arising from the allocation of losses of the
investee or assessment of impairment in accordance with IAS 28).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-272": { "value": "Investments in associates and joint ventures
An associate is an entity over which the Group has significant influence and that is
neither a subsidiary nor an interest in a joint venture. Significant influence is the
power to participate in the financial and operating policy decisions of the
investee but is not control or joint control over those policies.
A joint venture is a joint arrangement whereby the parties that have joint control of
the arrangement have rights to the net assets of the joint arrangement. Joint
control is the contractually agreed sharing of control of an arrangement, which
exists only when decisions about the relevant activities require unanimous
consent of the parties sharing control.
The results and assets and liabilities of associates or joint ventures are
incorporated in these financial statements using the equity method of
accounting, except when the investment is classified as held for sale, in which
case it is accounted for in accordance with IFRS 5.
Under the equity method, an investment in an associate or a joint venture is
recognised initially in the consolidated statement of financial position at cost and
adjusted thereafter to recognise the Group\u2019s share of the profit or loss and other
comprehensive income of the associate or joint venture. When the Group\u2019s share
of losses of an associate or a joint venture exceeds the Group\u2019s interest in that
associate or joint venture (which includes any long-term interests that, in
substance, form part of the Group\u2019s net investment in the associate or joint
venture), the Group discontinues recognising its share of further losses.
Additional losses are recognised only to the extent that the Group has incurred
legal or constructive obligations or made payments on behalf of the associate or
joint venture.
An investment in an associate or a joint venture is accounted for using the equity
method from the date on which the investee becomes an associate or a joint
venture. On acquisition of the investment in an associate or a joint venture, any
excess of the cost of the investment over the Group\u2019s share of the net fair value
of the identifiable assets and liabilities of the investee is recognised as goodwill,
which is included within the carrying amount of the investment. Any excess of the
Group\u2019s share of the net fair value of the identifiable assets and liabilities over the
cost of the investment, after reassessment, is recognised immediately in profit or
loss in the period in which the investment is acquired.
The requirements of IAS 36 are applied to determine whether it is necessary to
recognise any impairment loss with respect to the Group\u2019s investment in an
associate or a joint venture. When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment in accordance with IAS
36 as a single asset by comparing its recoverable amount (higher of value in use
and fair value less costs of disposal) with its carrying amount. Any impairment loss
recognised is allocated to any asset, including goodwill that forms part of the
carrying amount of the investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent that the recoverable amount
of the investment subsequently increases.
The Group discontinues the use of the equity method from the date when the
investment ceases to be an associate or a joint venture. When the Group retains
an interest in the former associate or a joint venture and the retained interest is a
financial asset, the Group measures the retained interest at fair value at that date
and the fair value is regarded as its fair value on initial recognition in accordance
with IFRS 9. The difference between the carrying amount of the associate or a
joint venture at the date the equity method was discontinued, and the fair value of
any retained interest and any proceeds from disposing of a part interest in the
associate or a joint venture is included in the determination of the gain or loss on
disposal of the associate or joint venture. In addition, the Group accounts for all
amounts previously recognised in other comprehensive income in relation to that
associate on the same basis as would be required if that associate had directly
disposed of the related assets or liabilities. Therefore, if a gain or loss previously
recognised in other comprehensive income by that associate or joint venture
would be reclassified to profit or loss on the disposal of the related assets or
liabilities, the Group reclassifies the gain or loss from equity to profit or loss (as a
reclassification adjustment) when the associate or joint venture is disposed of.
When the Group reduces its ownership interest in an associate or a joint venture
but the Group continues to use the equity method, the Group reclassifies to
profit or loss the proportion of the gain or loss that had previously been
recognised in other comprehensive income relating to that reduction in
ownership interest if that gain or loss would be reclassified to profit or loss on the
disposal of the related assets or liabilities.
When a Group entity transacts with an associate or a joint venture of the Group,
profits and losses resulting from the transactions with the associate or joint
venture are recognised in the Group\u2019s consolidated financial statements only to
the extent of interests in the associate or joint venture that are not related to the
Group.
The Group applies IFRS 9, including the impairment requirements, to long-term
interests in an associate or joint venture to which the equity method is not applied
and which form part of the net investment in the investee. Furthermore, in
applying IFRS 9 to long-term interests, the Group does not take into account
adjustments to their carrying amount required by IAS 28 (i.e. adjustments to the
carrying amount of long-term interests arising from the allocation of losses of the
investee or assessment of impairment in accordance with IAS 28).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-271": { "value": "Investments in associates and joint ventures
An associate is an entity over which the Group has significant influence and that is
neither a subsidiary nor an interest in a joint venture. Significant influence is the
power to participate in the financial and operating policy decisions of the
investee but is not control or joint control over those policies.
A joint venture is a joint arrangement whereby the parties that have joint control of
the arrangement have rights to the net assets of the joint arrangement. Joint
control is the contractually agreed sharing of control of an arrangement, which
exists only when decisions about the relevant activities require unanimous
consent of the parties sharing control.
The results and assets and liabilities of associates or joint ventures are
incorporated in these financial statements using the equity method of
accounting, except when the investment is classified as held for sale, in which
case it is accounted for in accordance with IFRS 5.
Under the equity method, an investment in an associate or a joint venture is
recognised initially in the consolidated statement of financial position at cost and
adjusted thereafter to recognise the Group\u2019s share of the profit or loss and other
comprehensive income of the associate or joint venture. When the Group\u2019s share
of losses of an associate or a joint venture exceeds the Group\u2019s interest in that
associate or joint venture (which includes any long-term interests that, in
substance, form part of the Group\u2019s net investment in the associate or joint
venture), the Group discontinues recognising its share of further losses.
Additional losses are recognised only to the extent that the Group has incurred
legal or constructive obligations or made payments on behalf of the associate or
joint venture.
An investment in an associate or a joint venture is accounted for using the equity
method from the date on which the investee becomes an associate or a joint
venture. On acquisition of the investment in an associate or a joint venture, any
excess of the cost of the investment over the Group\u2019s share of the net fair value
of the identifiable assets and liabilities of the investee is recognised as goodwill,
which is included within the carrying amount of the investment. Any excess of the
Group\u2019s share of the net fair value of the identifiable assets and liabilities over the
cost of the investment, after reassessment, is recognised immediately in profit or
loss in the period in which the investment is acquired.
The requirements of IAS 36 are applied to determine whether it is necessary to
recognise any impairment loss with respect to the Group\u2019s investment in an
associate or a joint venture. When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment in accordance with IAS
36 as a single asset by comparing its recoverable amount (higher of value in use
and fair value less costs of disposal) with its carrying amount. Any impairment loss
recognised is allocated to any asset, including goodwill that forms part of the
carrying amount of the investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent that the recoverable amount
of the investment subsequently increases.
The Group discontinues the use of the equity method from the date when the
investment ceases to be an associate or a joint venture. When the Group retains
an interest in the former associate or a joint venture and the retained interest is a
financial asset, the Group measures the retained interest at fair value at that date
and the fair value is regarded as its fair value on initial recognition in accordance
with IFRS 9. The difference between the carrying amount of the associate or a
joint venture at the date the equity method was discontinued, and the fair value of
any retained interest and any proceeds from disposing of a part interest in the
associate or a joint venture is included in the determination of the gain or loss on
disposal of the associate or joint venture. In addition, the Group accounts for all
amounts previously recognised in other comprehensive income in relation to that
associate on the same basis as would be required if that associate had directly
disposed of the related assets or liabilities. Therefore, if a gain or loss previously
recognised in other comprehensive income by that associate or joint venture
would be reclassified to profit or loss on the disposal of the related assets or
liabilities, the Group reclassifies the gain or loss from equity to profit or loss (as a
reclassification adjustment) when the associate or joint venture is disposed of.
When the Group reduces its ownership interest in an associate or a joint venture
but the Group continues to use the equity method, the Group reclassifies to
profit or loss the proportion of the gain or loss that had previously been
recognised in other comprehensive income relating to that reduction in
ownership interest if that gain or loss would be reclassified to profit or loss on the
disposal of the related assets or liabilities.
When a Group entity transacts with an associate or a joint venture of the Group,
profits and losses resulting from the transactions with the associate or joint
venture are recognised in the Group\u2019s consolidated financial statements only to
the extent of interests in the associate or joint venture that are not related to the
Group.
The Group applies IFRS 9, including the impairment requirements, to long-term
interests in an associate or joint venture to which the equity method is not applied
and which form part of the net investment in the investee. Furthermore, in
applying IFRS 9 to long-term interests, the Group does not take into account
adjustments to their carrying amount required by IAS 28 (i.e. adjustments to the
carrying amount of long-term interests arising from the allocation of losses of the
investee or assessment of impairment in accordance with IAS 28).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-274": { "value": "
An investment in an associate or a joint venture is accounted for using the equity
method from the date on which the investee becomes an associate or a joint
venture. On acquisition of the investment in an associate or a joint venture, any
excess of the cost of the investment over the Group\u2019s share of the net fair value
of the identifiable assets and liabilities of the investee is recognised as goodwill,
which is included within the carrying amount of the investment. Any excess of the
Group\u2019s share of the net fair value of the identifiable assets and liabilities over the
cost of the investment, after reassessment, is recognised immediately in profit or
loss in the period in which the investment is acquired.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-275": { "value": "
The requirements of IAS 36 are applied to determine whether it is necessary to
recognise any impairment loss with respect to the Group\u2019s investment in an
associate or a joint venture. When necessary, the entire carrying amount of the
investment (including goodwill) is tested for impairment in accordance with IAS
36 as a single asset by comparing its recoverable amount (higher of value in use
and fair value less costs of disposal) with its carrying amount. Any impairment loss
recognised is allocated to any asset, including goodwill that forms part of the
carrying amount of the investment. Any reversal of that impairment loss is
recognised in accordance with IAS 36 to the extent that the recoverable amount
of the investment subsequently increases.
The Group applies IAS 36 to determine whether a right-of-use asset is impaired
and accounts for any identified impairment loss as described in the \u2018Property,
Plant and Equipment\u2019 policy.
Subsequent to initial recognition, the Group regularly reviews the estimated
unguaranteed residual value and applies the impairment requirements of IFRS 9,
recognising an allowance for expected credit losses on the lease receivables.
Impairment of property, plant and equipment
\u00a0 and intangible assets excluding goodwill
At each reporting date, the Group reviews the carrying amounts of its property,
plant and equipment and intangible assets to determine whether there is any
indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated to determine
the extent of the impairment loss (if any). Where the asset does not generate cash
flows that are independent from other assets, the Group estimates the
recoverable amount of the cash-generating unit to which the asset belongs.
When a reasonable and consistent basis of allocation can be identified,
corporate assets are also allocated to individual cash-generating units, or
otherwise they are allocated to the smallest group of cash-generating units for
which a reasonable and consistent allocation basis can be identified.
Intangible assets with an indefinite useful life are tested for impairment at least
annually and whenever there is an indication at the end of a reporting period that
the asset may be impaired.
Recoverable amount is the higher of fair value less costs of disposal and value in
use. In assessing value in use, the estimated future cash flows are discounted to
their present value using a pre-tax discount rate that reflects current market
assessments of the time value of money and the risks specific to the asset for
which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be
less than its carrying amount, the carrying amount of the asset (or cash-
generating unit) is reduced to its recoverable amount. An impairment loss is
recognised immediately in profit or loss.
Where an impairment loss subsequently reverses, the carrying amount of the
asset (or cash-generating unit) is increased to the revised estimate of its
recoverable amount, but so that the increased carrying amount does not exceed
the carrying amount that would have been determined had no impairment loss
been recognised for the asset (or cash-generating unit) in prior years. A reversal
of an impairment loss is recognised immediately in profit or loss to the extent that
it eliminates the impairment loss which has been recognised for the asset in prior
years. Any increase in excess of this amount is treated as a revaluation increase.
Financial assets - Impairment
The Group assesses on a forward looking basis the expected credit losses
associated with its debt instruments carried at amortised cost.
The Group has no trade receivables nor amounts due from customers for
contract work including a significant finance component and is therefore
required to apply the simplified approach under IFRS 9, in which the credit losses
are measured using a lifetime expected loss allowance for all trade receivables
and amounts due from customers for contract work. Information about the
Group\u2019s exposure to credit risk and measurement of impairment losses for trade
receivables is included in Note 15.
Impairment assessment
IAS 36 Impairment of Assets requires entities to perform an impairment test (i.e.,
estimate the recoverable amount of the affected cash generating unit (CGU) at
the end of each reporting period when there is any indication that the cash
generating unit may be impaired.
Fasted has defined CGU\u2019s based on the geographic area where charging
stations are located. In 2025 the Board of Directors identified CGU\u2019s as the
Netherlands, Germany, Belgium, United Kingdom, Switzerland, France,\u00a0 Denmark,
Italy and Spain.
A cash-generating unit is the smallest identifiable group of assets that generates
cash inflows that are largely independent of the cash inflows from other assets or
groups of assets. Individual Fastned stations are not seen as generating
independent cash inflows due to:
\u2022 The importance of the Fastned brand, station design, and network with
national coverage.
\u2022 Substitution between stations, i.e., if a site is closed customers will divert to
the next closest site or next on-route site. The market for Fastned is EV drivers
travelling longer distances on/close to motorway attracted to a network of
sites with good geographical coverage.
\u2022 Management performance monitoring and allocation of available capex
budget is determined on a country level.
Further, with the additions of shops, management also currently does not view it
as separate CGU's due to the following reasons:
\u2022 Management views shops and kiosks as an enabler of charging, and not a
standalone business, with retail uplift embedded in charging volumes. This
means that cash inflows of the shops are inextricably linked with, and not
independent from, those of the country charging network
\u2022 Retail/ shops is used as an enabler in certain tenders or constructs where
Fastned already has a charging station or where a station will also be built.
Shops would not be built on sites without Fastned stations.
Management has assessed external and internal sources of information for
indications that an asset may be impaired as at the reporting date. This review
included an assessment of the condition of assets, the technological, market and
legal environment in which the company is doing business, market interest rates
and internal sources of information.
Even though the long term fundamentals of the BEV transition are firmly in place
with battery technology improving and continued government targets,
management considered it prudent to conduct an impairment test for all CGUs
as at year end 2025, as updated BEV adoption forecasts were lower versus
previous forecasts, especially in the near term due to growth in competitor
infrastructure. Key data utilised in this assessment was updated forecasts on
BEVs on the road as a % of total passenger car fleet at year end, average
charging speed estimated for assets in current condition, driving patterns and
market share assumptions, electricity prices, growth rate estimates and
Fastned's Weighted average cost of capital ('WACC'). All CGUs showed
sufficient headroom and therefore no impairment was identified.
The recoverable amount of the CGUs is determined through a value in use model
as defined by IAS 36. In line with guidance, Management performed sensitivity
analyses to determine any potential shortfall in headroom. Key figures adjusted in
performing sensitivity analyses were the following:
\u2022 Increase in WACC\u00a0 per country
\u2022 Changing the assumptions regarding\u00a0 BEV penetration rates in future periods
\u2022 Changing assumptions regarding inflation in all countries affecting costs in the
ViU model
It was observed that a shortfall in headroom could exist in the United Kingdom
CGU once the WACC is increased by 2 percentage points, if UK long term
inflation increases by 2 percentage points, or if there is no BEV growth after the
year 2027.
However, Management considers the sensitivities to represent severe downside
stress scenarios rather than management\u2019s expected outcome. In line with IAS 36
and IAS 1, sensitivities demonstrate mechanical breakpoints under stressed
assumptions; however, management does not consider the UK outcomes under
these severe sensitivities to be the most likely outcome and therefore concludes
that they do not, by themselves, indicate that an impairment exists at the
reporting date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-276": { "value": "Cash flow
The Company has chosen to prepare the statement of cash flows using the
indirect method, which presents cash flows from operating activities as the
income from continuing operations adjusted for non-cash transactions, deferrals
or accruals of past or future operating cash receipts or payments, and items of
income or expense associated with investing or financing cash flows. Cash flows
in foreign currencies have been translated using weighted average periodic
exchange rates. Interest paid and interest received are classified as operating
cash flows. Lease payments for short-term leases, lease payments for leases of
low-value assets and variable lease payments not included in the measurement
of the lease liability are classified as cash flows from operating activities.\u00a0 Cash
flows from government grants relating to purchase or construction of non-
current assets is classified as cash flows from financing activities in the
consolidated statement of cash flows since this is seen as a source of funding for
the Group.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-277": { "value": "Revenue recognition
The Group recognises revenue from the following major sources:
\u2022 Sales of electricity after the deduction of discounts and sales taxes.
\u2022 Revenue from sales of renewable energy units (for example, \"hernieuwbare
brandstofeenheden\" - renewable energy credits in the Netherlands or similar
schemes in Belgium, Germany and France).
\u2022 Revenue from construction service arrangements where Fastned constructs,
transfers and operates charging stations for public sector bodies.
\u2022 Other revenues relating to charging such as service revenues from maintaining
and operating the stations for city or provincial area authorities.
Sales of electricity
Fastned supplies electricity to owners of electric vehicles who use either the
Fastned app, a charge card, or credit/debit bank card. Revenue is recognised
when control of the electricity has transferred, being at the point the customer
charges its vehicle at a Fastned station. Payment of the transaction price is due
according to the terms applying to the payment method (Fastned app, charge
card, bank card) used by the customer purchasing the electricity. Price is
allocated to each individual charging transaction.
Fastned offers customers the choice of paying a standard price per kWh, or
subscribing to a Fastned price plan with a monthly fee and reduced price per
kWh. Monthly fee revenue is recognized in the relevant calendar month.
Sales of renewable energy units
Fastned's policy is to sell renewable energy units (\"REC's\") received from the
government in the ordinary course of business. The Group recognizes revenue
from sales of renewable energy units in accordance with IFRS 15 Revenue from
Contracts with Customers. The sale of REC's is recognized based on the
agreements between the Group and the buyers. Revenue is recognized when the
control is transferred to the buyer which is at the point in time when certificates
are delivered via the government\u2019s portal.
Other revenues related to charging
Fastned supplies services related to maintaining and operating the stations for
city or provincial area authorities. Revenue is recognized for the services
delivered over time.
Revenue from station construction as part of service concessions
Under certain contractual arrangements, Fastned constructs or upgrades
charging station infrastructure (construction or upgrade services) used to
provide a public service and operates and maintains that charging station
infrastructure (operation services) for a specified period of time. Fastned
satisfies its performance obligation by transferring the ownership of charging
stations to the customer.
Fastned charges the construction of charging stations according to the terms in
the contract. Fastned will recognize a contract asset for any work performed. Any
amount previously recognized as contract asset is reclassified to trade
receivables at the point at which it is invoiced to the customer. If the payment
exceeds the revenue recognized to date under cost-to-cost method then the
Group recognizes a contract liability for the difference. Price is allocated based
on the percentage of completion of the construction contract. Revenue from
construction of charging stations is recognised over time on a cost-to-cost
method, i.e. based on the proportion of contract costs incurred for work
performed to date relative to the estimated total contract costs. The directors
consider that this input method is an appropriate measure of the progress
towards complete satisfaction of these performance obligations under IFRS 15.
Cash flows from revenue form station construction as part of service
concessions is classified as cash flows from operating activities in the
consolidated statement of cash flows, since they relate to the construction and
operation of infrastructure used to provide a public service, representing the
primary revenue-generating activities of the entity in accordance with its role as a
service provider under IFRIC 12.
Deferred revenue
The Group operates a Founders club through which early large investors in
Fastned have the right to charge their EV\u2019s at Fastned for free, i.e.. at a 100%
discount on the regular price for the rest of their lives. This right is a material right,
and the promise to provide the 100% discount to the Founders is therefore a
separate future performance obligation for which deferred income is recognised
in the balance sheet.
Fastned allocates the transaction price to the performance obligation based on
a relative stand-alone selling price basis, including an estimate of the future
performance required by the customer. Revenue is recognized when electricity is
supplied to the customer and the performance obligation is satisfied.
ontract Assets
Contract assets represent the Group\u2019s right to consideration for construction
services transferred to the grantor that are not yet unconditional. In accordance
with IFRIC 12 and IFRS 15, construction revenue is recognized over time using the
cost-based input method, as the Group\u2019s performance enhances an asset
controlled by the grantor. Contract assets are measured as accumulated
construction revenue\u2014including the procurement and delivery of high-power
charging (HPC) hardware to the site. Once the construction and technical
commissioning reach the contractually defined milestone of operational release,
the contract asset is derecognized and reclassified as a financial asset
(receivable) to the extent of the unconditional right to receive the installation and
operator fees.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-278": { "value": "
Fastned offers customers the choice of paying a standard price per kWh, or
subscribing to a Fastned price plan with a monthly fee and reduced price per
kWh. Monthly fee revenue is recognized in the relevant calendar month.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-279": { "value": "
Revenue from station construction as part of service concessions
Under certain contractual arrangements, Fastned constructs or upgrades
charging station infrastructure (construction or upgrade services) used to
provide a public service and operates and maintains that charging station
infrastructure (operation services) for a specified period of time. Fastned
satisfies its performance obligation by transferring the ownership of charging
stations to the customer.
Fastned charges the construction of charging stations according to the terms in
the contract. Fastned will recognize a contract asset for any work performed. Any
amount previously recognized as contract asset is reclassified to trade
receivables at the point at which it is invoiced to the customer. If the payment
exceeds the revenue recognized to date under cost-to-cost method then the
Group recognizes a contract liability for the difference. Price is allocated based
on the percentage of completion of the construction contract. Revenue from
construction of charging stations is recognised over time on a cost-to-cost
method, i.e. based on the proportion of contract costs incurred for work
performed to date relative to the estimated total contract costs. The directors
consider that this input method is an appropriate measure of the progress
towards complete satisfaction of these performance obligations under IFRS 15.
Cash flows from revenue form station construction as part of service
concessions is classified as cash flows from operating activities in the
consolidated statement of cash flows, since they relate to the construction and
operation of infrastructure used to provide a public service, representing the
primary revenue-generating activities of the entity in accordance with its role as a
service provider under IFRIC 12.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForServiceConcessionArrangementsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-280": { "value": "Leases (Group as lessee)
The Group assesses whether a contract is or contains a lease, at inception of the
contract. The Group recognises a right-of-use asset and a corresponding lease
liability with respect to all lease arrangements in which it is the lessee, except for
short-term leases (defined as leases with a lease term of 12 months or less) and
leases of low value assets (such as office equipment). For these leases, the
Group recognises the lease payments as an operating expense on a straight-line
basis over the term of the lease unless another systematic basis is more
representative of the time pattern in which economic benefits from the leased
assets are consumed.
The lease liability is initially measured at the present value of the lease payments
that are not paid at the commencement date, discounted by using the rate
implicit in the lease. If this rate cannot be readily determined, the Group uses its
incremental borrowing rate.
Lease payments included in the measurement of the lease liability comprise:
\u2022 Fixed lease payments (including in-substance fixed payments), less any lease
incentives receivable;
\u2022 Variable lease payments that depend on an index or rate, initially measured
using the index or rate at the commencement date;
\u2022 The amount expected to be payable by the lessee under residual value
guarantees;
\u2022 The exercise price of purchase options, if the lessee is reasonably certain to
exercise the options; and
\u2022 Payments of penalties for terminating the lease, if the lease term reflects the
exercise of an option to terminate the lease.
The lease liability is presented as a separate line in the consolidated statement of
financial position.
The lease liability is subsequently measured by increasing the carrying amount to
reflect interest on the lease liability (using the effective interest method) and by
reducing the carrying amount to reflect the lease payments made
When the Group revises its estimate of the term of any lease (because, for
example, it re-assesses the probability of a lessee extension or termination
option being exercised), it adjusts the carrying amount of the lease liability to
reflect the payments to make over the revised term, which are discounted using a
revised discount rate.
The Group remeasures the lease liability (and makes a corresponding adjustment
to the related right-of-use asset) whenever:
\u2022 The lease term has changed or there is a significant event or change in
circumstances resulting in a change in the assessment of exercise of a
purchase option, in which case the lease liability is remeasured by discounting
the revised lease payments using a revised discount rate;
\u2022 The lease payments change due to changes in an index or rate or a change in
expected payment under a guaranteed residual value, in which cases the lease
liability is remeasured by discounting the revised lease payments using an
unchanged discount rate (unless the lease payments change is due to a
change in a floating interest rate, in which case a revised discount rate is used);
\u2022 A lease contract is modified and the lease modification is not accounted for as
a separate lease, in which case the lease liability is remeasured based on the
lease term of the modified lease by discounting the revised lease payments
using a revised discount rate at the effective date of the modification.
The right-of-use assets comprise the initial measurement of the corresponding
lease liability, lease payments made at or before the commencement day, less
any lease incentives received and any initial direct costs. They are subsequently
measured at cost less accumulated depreciation and impairment losses.
Whenever the Group incurs an obligation for costs to dismantle and remove a
leased asset, restore the site on which it is located or restore the underlying asset
to the condition required by the terms and conditions of the lease, a provision is
recognised and measured under IAS 37. To the extent that the costs relate to a
right-of-use asset, the costs are included in the related right-of-use asset.
Right-of-use assets are depreciated over the shorter period of lease term and
useful life of the underlying asset. If a lease transfers ownership of the underlying
asset or the cost of the right-of-use asset reflects that the Group expects to
exercise a purchase option, the related right-of-use asset is depreciated over
the useful life of the underlying asset. The depreciation starts at the
commencement date of the lease.
The right-of-use assets are presented as a separate line in the consolidated
statement of financial position.
The Group applies IAS 36 to determine whether a right-of-use asset is impaired
and accounts for any identified impairment loss as described in the \u2018Property,
Plant and Equipment\u2019 policy.
Variable rents that do not depend on an index or rate are not included in the
measurement of the lease liability and the right-of-use asset. The related
payments are recognised as an expense in the period in which the event or
condition that triggers those payments occurs and are included in the line
\u201cSelling and Distribution expenses\u201d in profit or loss.
As a practical expedient, IFRS 16 permits a lessee not to separate non-lease
components, and instead account for any lease and associated non-lease
components as a single arrangement. Fastned has elected to adopt this
expedient for leases of transformers (where the lessor is responsible for
maintenance and repair services) and office leases (including service costs).
f) \u00a0 Lease (Group as Lessor)
The Group enters into lease agreements as a lessor with respect to parts of its
charging stations for commercial spaces to retailers.
Leases for which the Group is a lessor are classified as finance or operating
leases. Whenever the terms of the lease transfer substantially all the risks and
rewards of ownership to the lease, the contract is classified as a finance lease. All
other are classified as operating leases.
When the Group is an intermediate lessor, it accounts for the head lease and the
sub-lease as two separate contracts. The sub-lease is classified as a finance or
operating lease by reference to the right-of-use asset arising from the head
lease.
Rental income from operating leases is recognised on a straight-line basis over
the term of the relevant lease. Initial direct costs incurred in negotiating and
arranging an operating lease are added to the carrying amount of the leased
asset and recognised on a straight-line basis over the lease term.
Amounts due from lessees under finance leases are recognised as receivables at
the amount of the Group\u2019s net investment in the leases. Finance lease income is
allocated to accounting periods so as to reflect a constant periodic rate of return
on the Group\u2019s net investment outstanding in respect of the leases.
Subsequent to initial recognition, the Group regularly reviews the estimated
unguaranteed residual value and applies the impairment requirements of IFRS 9,
recognising an allowance for expected credit losses on the lease receivables.
Finance lease income is calculated with reference to the gross carrying amount
of the lease receivables, except for credit-impaired financial assets for which
interest income is calculated with reference to their amortised cost (i.e. after a
deduction of the loss of allowance.
When a contract includes both lease and non-lease components, the Group
applies IFRS 15 to allocate the consideration under the contract to each
component.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-281": { "value": "
Right-of-use assets are depreciated over the shorter period of lease term and
useful life of the underlying asset. If a lease transfers ownership of the underlying
asset or the cost of the right-of-use asset reflects that the Group expects to
exercise a purchase option, the related right-of-use asset is depreciated over
the useful life of the underlying asset. The depreciation starts at the
commencement date of the lease
Plant, machinery, fixtures and fittings are stated at cost less accumulated
depreciation and accumulated impairment loss. This includes costs directly
attributable to putting the asset in place. Directly attributable costs include part
of the staff costs for design and construction of the locations.
Depreciation is recognised so as to write off the cost or valuation of assets (other
than freehold land and properties under construction) less their residual values
over their useful lives, using the straight-line method, on the following bases:
Charging stations and
technical installations
6.66% per year/ 15 year or
12.5% per year/ 8 years
Transformers
3.33% per year/ 30 years
Other operating assets
20% per year/ 5 years
The estimated useful lives, residual values and depreciation method are reviewed
at the end of each reporting period, with the effect of any changes in estimate
accounted for on a prospective basis. The estimated useful lives include
management judgement as policy and procedures for future tenders of Dutch
highway locations approaching concession end-date have yet to be determined
by the Government authorities.
Right-of-use assets are depreciated over the shorter period of the lease term
and the useful life of the underlying asset. If a lease transfers ownership of the
underlying asset or the cost of the right-of-use asset reflects that the Group
expects to exercise a purchase option, the related right-of-use asset is
depreciated over the useful life of the underlying asset.
Property, plant and equipment \u2013 depreciation and expected
useful lives
To determine the useful life of assets, estimates and assumptions are required.
Management used market data, supplier specifications and its experience with
the equipment to establish these estimates.
Concession Renewals and Rijkswaterstaat (RWS) Locations:
A significant portion of the Group\u2019s network in the Netherlands operates under
concessions granted by Rijkswaterstaat (RWS) in 2013. These concessions
generally have a 15-year duration and are scheduled to expire starting from 2028
up until 2036. For stations opened in recent years, the remaining concession term
is shorter than the useful life of the installed assets, which creates a risk of
accelerated depreciation for these assets.
Management has exercised judgement in concluding that the current useful lives
remain appropriate as of 31\u00a0December 2025. This judgement is based on the
following considerations:
\u2022 Extension Expectations: In the absence of definitive communication from the
Dutch government to the contrary, management expects that concessions
could be extended or renewed to ensure the continuity of the national
charging infrastructure, since some of the concession end dates are drawing
nearer with no clear transition/ handover plan communicated yet.
\u2022 Asset Redundancy and Redeployment: Fastned\u2019s modular station design
allows for the relocation of key components, such as chargers and canopies,
to other sites in the event of a non-renewal. Consequently, the legal expiry of a
single site concession does not necessarily terminate the economic benefit of
all assets at that location.
\u2022 Potential reimbursements: In determining that no accelerated depreciation is
required for RWS locations, management has considered the potential for
asset take-over arrangements or reimbursements for certain high-value
assets (e.g., grid connections and transformers). Because these assets are
expected to retain significant residual value through these arrangements, their
current carrying amounts are considered recoverable and do not necessitate a
shortened depreciation profile solely based on the primary concession term.
Despite these considerations, significant uncertainty remains regarding the
future regulatory framework and the re-tendering process for RWS sites. Factors
such as potential distance criteria or changes in government policy could result in
the Group losing the right to operate at specific locations.
The Group has performed risk assessments to determine the maximum impact if
these concessions end on the planned dates. The estimated exposures to
accelerated depreciation are as follows:
\u2022 If the concessions end on the scheduled date and Fastned does not retain
any sites: \u20ac15 million accelerated depreciation from 2027 to 2039
\u2022 If the concessions end on scheduled date and Fastned retains ~ 37.5% of
sites: \u20ac9 million accelerated depreciation from 2027 to 2039
\u2022 If the concession end dates are postponed by ~2 years, and the assumption
that 37.5% of the sites are retained: \u20ac7 million accelerated depreciation from
2027 to 2039
The evolving Dutch political landscape following the recent elections continues
to present significant uncertainty regarding the long-term RWS concession
framework. Management maintains that revising useful lives at this juncture would
be premature and could lead to a material reversal of depreciation in future
periods should concessions be extended or assets reimbursed. The Group
continues to monitor government communications and will adjust these
estimates prospectively if a change in the expected consumption pattern of
these assets becomes evident.
Property, plant and equipment \u2013 directly attributable staff
costs
Directly attributable staff costs are capitalised as part of the property, plant and
equipment. Management used inputs from job descriptions, project phases,
project planning and FTE planning to determine amounts and allocation keys for
the directly attributable staff costs.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-282": { "value": "Foreign currencies
Items included in the financial statements of each of the Group\u2019s entities are
measured using the currency of the primary economic environment in which the
entity operates (\u2018the functional currency\u2019). The consolidated financial statements
are presented in Euro, which is Fastned B.V.'s functional and presentation
currency.
In preparing the financial statements of the Group entities, transactions in
currencies other than the entity\u2019s functional currency (foreign currencies) are
recognised at the rates of exchange prevailing on the dates of the transactions.
At each reporting date, monetary assets and liabilities that are denominated in
foreign currencies are retranslated at the rates prevailing at that date. Exchange
differences from monetary items as part of reporting entity's net investment in
foreign operation and denominated in the functional currency, are recognised in
other comprehensive income in the consolidated financial statements. Non-
monetary items carried at fair value that are denominated in foreign currencies
are translated at the rates prevailing at the date when the fair value was
determined. Non-monetary items that are measured in terms of historical cost in
a foreign currency are not retranslated. Exchange differences are recognised in
profit or loss in the period in which they arise.
For the purpose of presenting consolidated financial statements, the assets and
liabilities of the Group\u2019s foreign operations are translated at exchange rates
prevailing on the reporting date. Income and expense items are translated at the
average exchange rates for the period, unless exchange rates fluctuate
significantly during that period, in which case the exchange rates at the date of
transactions are used. Exchange differences arising, if any, are recognised in
other comprehensive income and accumulated in a foreign exchange translation
reserve (attributed to non-controlling interests as appropriate).
On the disposal of a foreign operation (i.e. a disposal of the Group\u2019s entire
interest in a foreign operation, or a disposal involving loss of control over a
subsidiary that includes a foreign operation or a partial disposal of an interest in a
joint arrangement or an associate that includes a foreign operation of which the
retained interest becomes a financial asset), all of the exchange differences
accumulated in a foreign exchange translation reserve in respect of that
operation attributable to the owners of the company are reclassified to profit or
loss.
In addition, in relation to a partial disposal of a subsidiary that includes a foreign
operation that does not result in the Group losing control over the subsidiary, the
proportionate share of accumulated exchange differences are re-attributed to
non-controlling interests and are not recognised in profit or loss. For all other
partial disposals (i.e. partial disposals of associates or joint arrangements that do
not result in the Group losing significant influence or joint control), the
proportionate share of the accumulated exchange differences is reclassified to
profit or loss.
Goodwill and fair value adjustments arising on the acquisition of a foreign entity
are treated as assets and liabilities of the foreign entity and translated at the
closing rate. Exchange differences arising are recognised in other
comprehensive income.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-283": { "value": "
Items included in the financial statements of each of the Group\u2019s entities are
measured using the currency of the primary economic environment in which the
entity operates (\u2018the functional currency\u2019). The consolidated financial statements
are presented in Euro, which is Fastned B.V.'s functional and presentation
currency.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-284": { "value": "Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or
production of qualifying assets, which are assets that necessarily take a
substantial period of time to get ready for their intended use or sale, are added to
the cost of those assets, until such time as the assets are substantially ready for
their intended use or sale.
The Group\u2019s charging stations, including related shops and kiosks, require
significant permitting, grid connection and construction activities. The average
development period from permit submission to opening of the site exceeds 12
months. These assets are therefore considered qualifying assets.
Capitalization of borrowing costs commences on the date when building permit
is requested as the Group incurs initial expenditures associated with activities
that are necessary to prepare the site for its intended use. Fastned ceases
capitalizing borrowing costs when a site is opened as this is the moment when
substantially all activities necessary to prepare the asset for its intended use are
complete.
All other borrowing costs are recognised in profit or loss in the period in which
they are incurred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-285": { "value": "Government grants
Government grants are not recognised until there is reasonable assurance that
the Group will comply with the conditions attaching to them and that the grants
will be received.
Government grants are recognised in profit or loss on a systematic basis over the
periods in which the Group recognises as expenses the related costs for which
the grants are intended to compensate. Specifically, government grants whose
primary condition is that the Group should purchase, construct or otherwise
acquire non-current assets (including property, plant and equipment) are
recognised within property, plant and equipment in the consolidated statement
of financial position and transferred to profit or loss on a systematic and rational
basis over the useful lives of the related assets. Cash flows from government
grants relating to purchase or construction of non-current assets is classified as
cash flows from financing activities in the consolidated statement of cash flows.
Government grants that are receivable as compensation for expenses or losses
already incurred or for the purpose of giving immediate financial support to the
Group with no future related costs are recognised in profit or loss in the period in
which they become receivable.
Renewable energy units are non-monetary government grants issued to Fastned
and are recognized in the same month where related electricity is sold to
customers, because at this point in time it would be reasonably certain that these
certificates will be received. At the initial recognition of renewable energy units,
they are measured at fair value in accordance with IAS 20 Accounting for
Government Grants and Disclosure of Government Assistance. Upon recognition
of the renewable energy units, the Group records corresponding gain in Cost of
sales. Renewable energy units granted are recognized as inventory.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-286": { "value": "Inventories
The Group obtains renewable energy units granted by the government (for
example, \"hernieuwbare brandstofeenheden\" - renewable energy credits in the
Netherlands or similar schemes in Belgium, Germany and France). Unsold RECs
are recognized as inventory as they meet the definition of an asset and are held
for sale in the ordinary course of business. These renewable energy units are
initially recognized at fair value, which is the initial cost of the units.
Fair value of renewable energy units is determined using various valuation
techniques depending on the contract terms and the country where Fastned
operates. Referencing quoted prices in active REC markets (classified as level 1 in
fair value hierarchy) is mostly applicable for deals in the Netherlands and Belgium.
Fair value is determined based on available market index with bid levels for 'other
renewable fuel unit (HBE-O) which consists of relevant published quotations.
Where observable market data is limited, the Group uses broker quotes and
observable market transactions for similar RECs (classified as level 2 in fair value
hierarchy). In the absence of observable inputs, the Group applies level 3
hierarchy valuation techniques, where RECs valued using significant
unobservable inputs due to limited market liquidity.
The subsequent measurement of RECs is at the lower of cost and net realizable
value (NRV) under IAS 2 Inventories. Net realizable value is the average market
price available at closing of the period less the estimated costs necessary to
make the sale, considering the existing sales contracts.
Other Inventory consists of high-power charging (HPC) hardware and related
technical components purchased for the fulfilment of service concession
arrangements, specifically the German Highway Tender. These items are
classified as inventory when they are held by the Group but have not yet been
transferred to the grantor\u2019s site or integrated into the construction service, at
which point the physical construction has not yet commenced. As these assets
are intended for infrastructure where legal ownership remains with the grantor,
they are not recognized as Property, Plant and Equipment (PPE). Inventory is
measured at the lower of cost and net realizable value, with cost determined on a
first-in, first-out (FIFO) basis. Upon the commencement of construction or the
delivery of the hardware to the designated site\u2014signalling the transfer of control
as part of the construction performance obligation\u2014the carrying amount of the
inventory is derecognized and recognized as a contract asset and construction
revenue, with a corresponding charge to cost of sales.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-288": { "value": "Retirement and termination benefit costs
Payments to defined contribution retirement benefit plans are recognised as an
expense when employees have rendered service entitling them to the
contributions. Payments made to state-managed retirement benefit plans are
accounted for as payments to defined contribution plans where the Group\u2019s
obligations under the plans are equivalent to those arising in a defined
contribution retirement benefit plan.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-287": { "value": "Retirement and termination benefit costs
Payments to defined contribution retirement benefit plans are recognised as an
expense when employees have rendered service entitling them to the
contributions. Payments made to state-managed retirement benefit plans are
accounted for as payments to defined contribution plans where the Group\u2019s
obligations under the plans are equivalent to those arising in a defined
contribution retirement benefit plan.
Short-term and other long-term employee benefits
A liability is recognised for benefits accruing to employees in respect of wages
and salaries, annual leave and sick leave in the period the related service is
rendered at the undiscounted amount of the benefits expected to be paid in
exchange for that service.
Liabilities recognised in respect of short-term employee benefits are measured
at the undiscounted amount of the benefits expected to be paid in exchange for
the related service.
Liabilities recognised in respect of other long-term employee benefits are
measured at the present value of the estimated future cash outflows expected to
be made by the Group in respect of services provided by employees up to the
reporting date.
Share-based payments
Share-based payment transactions of the Group
Equity-settled share-based payments to employees and others providing similar
services are measured at the fair value of the equity instruments at the grant date.
Significant management judgement is applied to determine the service
commencement date. There is no service commencement date recognised
before the grant date as management has significant and binding discretionary
rights in the execution of the option plan once the milestone is achieved. As a
result, no constructive or legal obligation is present before the grant date. The
option plan is recognised at a specific date. Details regarding the determination
of the fair value of these equity-settled share-based transactions are set out in
Note 24.
The previous option plan and a small portion of the current option plan for
Belgium employees incorporate vesting conditions. For these options, the fair
value determined at the grant date of the equity-settled share-based payments
is expensed on a straight-line basis over the vesting period, based on the Group\u2019s
estimate of the number of equity instruments that will eventually vest. At each
reporting date, the Group revises its estimate of the number of equity
instruments expected to vest as a result of the effect of non-market-based
vesting conditions. The impact of the revision of the original estimates, if any, is
recognised in profit or loss such that the cumulative expense reflects the revised
estimate, with a corresponding adjustment to reserves.
Share-based compensation
We use the fair value method of accounting for share options granted to
employees to measure the cost of employee services received in exchange for
the stock-based awards. Significant management judgement is applied to
determine the service commencement date. There is no service commencement
date recognised before the grant date as management has significant and
binding discretionary rights in the execution of the option plan once the
milestone is achieved. As a result, no constructive or legal obligation is present
before the grant date. The option plan is recognised as point in time.
The fair value of stock option awards is estimated using the Hull-White option-
pricing model, see Note 24. The option-pricing model requires inputs such as the
risk-free interest rate, expected term and expected volatility. These inputs are
subjective and generally require significant judgment.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-289": { "value": "Taxation
The income tax expense represents the sum of the tax currently payable and
deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit
differs from net profit as reported in profit or loss because it excludes items of
income or expense that are taxable or deductible in other years and it further
excludes items that are never taxable or deductible. The Group\u2019s liability for
current tax is calculated using tax rates that have been enacted or substantively
enacted by the end of the reporting period.
A provision is recognised for those matters for which the tax determination is
uncertain but it is considered probable that there will be a future outflow of funds
to a tax authority. The provisions are measured at the best estimate of the amount
expected to become payable. The assessment is based on the judgement of tax
professionals within the Company supported by previous experience in respect
of such activities and in certain cases based on specialist independent tax
advice.
Deferred tax
Deferred tax is the tax expected to be payable or recoverable on differences
between the carrying amounts of assets and liabilities in the financial statements
and the corresponding tax bases used in the computation of taxable profit, and is
accounted for using the liability method. Deferred tax liabilities are generally
recognised for all taxable temporary differences and deferred tax assets are
recognised to the extent that it is probable that taxable profits will be available
against which deductible temporary differences can be utilised. Such assets and
liabilities are not recognised if the temporary difference arises from the initial
recognition of goodwill or from the initial recognition (other than in a business
combination) of other assets and liabilities in a transaction that affects neither the
taxable profit nor the accounting profit. In addition, a deferred tax liability is not
recognised if the temporary difference arises from the initial recognition of
goodwill.
Deferred tax liabilities are recognised for taxable temporary differences arising
on investments in subsidiaries and associates, and interests in joint ventures,
except where the Group is able to control the reversal of the temporary
difference and it is probable that the temporary difference will not reverse in the
foreseeable future. Deferred tax assets arising from deductible temporary
differences associated with such investments and interests are only recognised
to the extent that it is probable that there will be sufficient taxable profits against
which to utilise the benefits of the temporary differences and they are expected
to reverse in the foreseeable future.
The carrying amount of deferred tax assets is reviewed at each reporting date
and reduced to the extent that it is no longer probable that sufficient taxable
profits will be available to allow all or part of the asset to be recovered.
Deferred tax is calculated at the tax rates that are expected to apply in the period
when the liability is settled or the asset is realised based on tax laws and rates that
have been enacted or substantively enacted at the reporting date.
The measurement of deferred tax liabilities and assets reflects the tax
consequences that would follow from the manner in which the Group expects, at
the end of the reporting period, to recover or settle the carrying amount of its
assets and liabilities.
Deferred tax assets and liabilities are offset when there is a legally enforceable
right to set off current tax assets against current tax liabilities and when they
relate to income taxes levied by the same taxation authority and the Group
intends to settle its current tax assets and liabilities on a net basis.
Where tax treatments are uncertain, if it is considered probable that a taxation
authority will accept the Group's proposed tax treatment, income taxes are
recognized consistent with the Group's income tax filings. If it is not considered
probable, the uncertainty is reflected within the carrying amount of the
applicable tax asset or liability using either the most likely amount or an expected
value, depending on which method better predicts the resolution of the
uncertainty.
Current tax and deferred tax for the year
Current and deferred tax are recognised in profit or loss, except when they relate
to items that are recognised in other comprehensive income or directly in equity,
in which case, the current and deferred tax are also recognised in other
comprehensive income or directly in equity respectively. Where current tax or
deferred tax arises from the initial accounting for a business combination, the tax
effect is included in the accounting for the business combination.
Taxes
Deferred tax assets are recognised for unused tax losses to the extent that it is
probable that taxable profit will be available against which the losses can be
utilised. Significant management judgement is required to determine the amount
of deferred tax assets that can be recognised, based upon the likely timing and
the level of future taxable profits together with future tax planning strategies.
At year-end 2025, the Group has \u20ac 27.7 million (2024: \u20ac23.3 million) of tax losses
in the Netherlands, and \u20ac 81.1 million of tax losses (2024: \u20ac54.8 million) arising in
other countries. In addition, the Group has \u20ac 50.9 million of unrecognised
temporary differences. Due to uncertainty about size and timing of future profits
the directors have determined not to recognise deferred tax assets on the tax
losses carried forward.
If the Group would recognise all unrecognised deferred tax assets, profit and
equity would have increased by approximately \u20ac28.1 million depending on the
timing of the utilisation of the tax losses. Further details on taxes are disclosed in
Note 9.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-290": { "value": "
Deferred tax
Deferred tax is the tax expected to be payable or recoverable on differences
between the carrying amounts of assets and liabilities in the financial statements
and the corresponding tax bases used in the computation of taxable profit, and is
accounted for using the liability method. Deferred tax liabilities are generally
recognised for all taxable temporary differences and deferred tax assets are
recognised to the extent that it is probable that taxable profits will be available
against which deductible temporary differences can be utilised. Such assets and
liabilities are not recognised if the temporary difference arises from the initial
recognition of goodwill or from the initial recognition (other than in a business
combination) of other assets and liabilities in a transaction that affects neither the
taxable profit nor the accounting profit. In addition, a deferred tax liability is not
recognised if the temporary difference arises from the initial recognition of
goodwill.
Deferred tax liabilities are recognised for taxable temporary differences arising
on investments in subsidiaries and associates, and interests in joint ventures,
except where the Group is able to control the reversal of the temporary
difference and it is probable that the temporary difference will not reverse in the
foreseeable future. Deferred tax assets arising from deductible temporary
differences associated with such investments and interests are only recognised
to the extent that it is probable that there will be sufficient taxable profits against
which to utilise the benefits of the temporary differences and they are expected
to reverse in the foreseeable future.
The carrying amount of deferred tax assets is reviewed at each reporting date
and reduced to the extent that it is no longer probable that sufficient taxable
profits will be available to allow all or part of the asset to be recovered.
Deferred tax is calculated at the tax rates that are expected to apply in the period
when the liability is settled or the asset is realised based on tax laws and rates that
have been enacted or substantively enacted at the reporting date.
The measurement of deferred tax liabilities and assets reflects the tax
consequences that would follow from the manner in which the Group expects, at
the end of the reporting period, to recover or settle the carrying amount of its
assets and liabilities.
Deferred tax assets and liabilities are offset when there is a legally enforceable
right to set off current tax assets against current tax liabilities and when they
relate to income taxes levied by the same taxation authority and the Group
intends to settle its current tax assets and liabilities on a net basis.
Where tax treatments are uncertain, if it is considered probable that a taxation
authority will accept the Group's proposed tax treatment, income taxes are
recognized consistent with the Group's income tax filings. If it is not considered
probable, the uncertainty is reflected within the carrying amount of the
applicable tax asset or liability using either the most likely amount or an expected
value, depending on which method better predicts the resolution of the
uncertainty.
Current tax and deferred tax for the year
Current and deferred tax are recognised in profit or loss, except when they relate
to items that are recognised in other comprehensive income or directly in equity,
in which case, the current and deferred tax are also recognised in other
comprehensive income or directly in equity respectively. Where current tax or
deferred tax arises from the initial accounting for a business combination, the tax
effect is included in the accounting for the business combination.
Taxes
Deferred tax assets are recognised for unused tax losses to the extent that it is
probable that taxable profit will be available against which the losses can be
utilised. Significant management judgement is required to determine the amount
of deferred tax assets that can be recognised, based upon the likely timing and
the level of future taxable profits together with future tax planning strategies.
At year-end 2025, the Group has \u20ac 27.7 million (2024: \u20ac23.3 million) of tax losses
in the Netherlands, and \u20ac 81.1 million of tax losses (2024: \u20ac54.8 million) arising in
other countries. In addition, the Group has \u20ac 50.9 million of unrecognised
temporary differences. Due to uncertainty about size and timing of future profits
the directors have determined not to recognise deferred tax assets on the tax
losses carried forward.
If the Group would recognise all unrecognised deferred tax assets, profit and
equity would have increased by approximately \u20ac28.1 million depending on the
timing of the utilisation of the tax losses. Further details on taxes are disclosed in
Note 9.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-291": { "value": "Property, plant and equipment
Plant, machinery, fixtures and fittings are stated at cost less accumulated
depreciation and accumulated impairment loss. This includes costs directly
attributable to putting the asset in place. Directly attributable costs include part
of the staff costs for design and construction of the locations.
Depreciation is recognised so as to write off the cost or valuation of assets (other
than freehold land and properties under construction) less their residual values
over their useful lives, using the straight-line method, on the following bases:
Charging stations and
technical installations
6.66% per year/ 15 year or
12.5% per year/ 8 years
Transformers
3.33% per year/ 30 years
Other operating assets
20% per year/ 5 years
The estimated useful lives, residual values and depreciation method are reviewed
at the end of each reporting period, with the effect of any changes in estimate
accounted for on a prospective basis. The estimated useful lives include
management judgement as policy and procedures for future tenders of Dutch
highway locations approaching concession end-date have yet to be determined
by the Government authorities.
Right-of-use assets are depreciated over the shorter period of the lease term
and the useful life of the underlying asset. If a lease transfers ownership of the
underlying asset or the cost of the right-of-use asset reflects that the Group
expects to exercise a purchase option, the related right-of-use asset is
depreciated over the useful life of the underlying asset.
An item of property, plant and equipment is derecognised upon disposal or when
no future economic benefits are expected to arise from the continued use of the
asset. The gain or loss arising on the disposal or retirement of an asset is
determined as the difference between the sales proceeds and the carrying
amount of the asset and is recognised in profit or loss.
Land and assets under construction are not depreciated. When assets under
construction are ready for their intended use, they are transferred to the relevant
category and depreciation starts.
Spare parts that meet the definition of PP&E are capitalised and accounted for
accordingly. The carrying amount of any component accounted for as a separate
asset is derecognised when replaced. All other repairs and maintenance are
charged to profit or loss during the reporting period in which they are incurred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-292": { "value": "
Land and assets under construction are not depreciated. When assets under
construction are ready for their intended use, they are transferred to the relevant
category and depreciation starts.
Spare parts that meet the definition of PP&E are capitalised and accounted for
accordingly. The carrying amount of any component accounted for as a separate
asset is derecognised when replaced. All other repairs and maintenance are
charged to profit or loss during the reporting period in which they are incurred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForConstructionInProgressExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-293": { "value": "
Spare parts that meet the definition of PP&E are capitalised and accounted for
accordingly. The carrying amount of any component accounted for as a separate
asset is derecognised when replaced. All other repairs and maintenance are
charged to profit or loss during the reporting period in which they are incurred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-295": { "value": "Intangible assets acquired separately
Intangible assets with finite useful lives that are acquired separately are carried at
cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised on a straight-line basis over their estimated useful
lives. The estimated useful life and amortisation method are reviewed at the end
of each reporting period, with the effect of any changes in estimate being
accounted for on a prospective basis. Intangible assets with indefinite useful
lives that are acquired separately are carried at cost less accumulated
impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less
their residual values over their useful lives, using the straight-line method, on the
following bases:
Site licences & permits
6.66% per year/ 15 year or
12.5% per year/ 8 years
Internally developed software
20% per year/ 5 years
Trademarks
20% per year/ 5 years
p) Internally-generated intangible assets \u2013 software
\u00a0 development expenditure
Expenditure on software development activities is recognised as an expense in
the period in which it is incurred.
An internally-generated intangible asset arising from development (or from the
development phase of an internal project) is recognised if, and only if, all of the
following conditions have been demonstrated:
\u2022 the technical feasibility of completing the intangible asset so that it will be
available for use or sale;
\u2022 the intention to complete the intangible asset and use or sell it;
\u2022 the ability to use or sell the intangible asset;
\u2022 how the intangible asset will generate probable future economic benefits;
\u2022 the availability of adequate technical, financial and other resources to
complete the development and to use or sell the intangible asset; and
\u2022 the ability to measure reliably the expenditure attributable to the intangible
asset during its development.
The amount initially recognised for internally-generated intangible assets is the
sum of the expenditure incurred from the date when the intangible asset first
meets the recognition criteria listed above. Where no internally-generated
intangible asset can be recognised, development expenditure is recognised in
profit or loss in the period in which it is incurred.
Subsequent to initial recognition, internally-generated intangible assets are
reported at cost less accumulated amortisation and accumulated impairment
losses, on the same basis as intangible assets that are acquired separately.
In accordance with the Dutch Civil Code and statutory requirements in other
countries, legal reserves have to be established in certain circumstances. The
Group has a legal reserve for its internally-generated software. Legal reserves are
not available for distribution to the Group\u2019s shareholders.
q) Derecognition of intangible assets
An intangible asset is derecognised on disposal, or when no future economic
benefits are expected from use or disposal. Gains or losses arising from
derecognition of an intangible asset, measured as the difference between the
net disposal proceeds and the carrying amount of the asset, are recognised in
profit or loss when the asset is derecognised.
r) \u00a0 Trademarks
Trademarks are measured initially at purchase cost and are amortised on a
straight-line basis over their estimated lives.
Capitalisation of internally developed software
Distinguishing the research and development phases of software projects and
determining whether the recognition requirements for the capitalisation of its
development costs are met requires judgement. After capitalisation,
management monitors whether the recognition requirements continue to be met
and whether there are any indicators that capitalised costs may be impaired.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-294": { "value": "Intangible assets acquired separately
Intangible assets with finite useful lives that are acquired separately are carried at
cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised on a straight-line basis over their estimated useful
lives. The estimated useful life and amortisation method are reviewed at the end
of each reporting period, with the effect of any changes in estimate being
accounted for on a prospective basis. Intangible assets with indefinite useful
lives that are acquired separately are carried at cost less accumulated
impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less
their residual values over their useful lives, using the straight-line method, on the
following bases:
Site licences & permits
6.66% per year/ 15 year or
12.5% per year/ 8 years
Internally developed software
20% per year/ 5 years
Trademarks
20% per year/ 5 years
p) Internally-generated intangible assets \u2013 software
\u00a0 development expenditure
Expenditure on software development activities is recognised as an expense in
the period in which it is incurred.
An internally-generated intangible asset arising from development (or from the
development phase of an internal project) is recognised if, and only if, all of the
following conditions have been demonstrated:
\u2022 the technical feasibility of completing the intangible asset so that it will be
available for use or sale;
\u2022 the intention to complete the intangible asset and use or sell it;
\u2022 the ability to use or sell the intangible asset;
\u2022 how the intangible asset will generate probable future economic benefits;
\u2022 the availability of adequate technical, financial and other resources to
complete the development and to use or sell the intangible asset; and
\u2022 the ability to measure reliably the expenditure attributable to the intangible
asset during its development.
The amount initially recognised for internally-generated intangible assets is the
sum of the expenditure incurred from the date when the intangible asset first
meets the recognition criteria listed above. Where no internally-generated
intangible asset can be recognised, development expenditure is recognised in
profit or loss in the period in which it is incurred.
Subsequent to initial recognition, internally-generated intangible assets are
reported at cost less accumulated amortisation and accumulated impairment
losses, on the same basis as intangible assets that are acquired separately.
In accordance with the Dutch Civil Code and statutory requirements in other
countries, legal reserves have to be established in certain circumstances. The
Group has a legal reserve for its internally-generated software. Legal reserves are
not available for distribution to the Group\u2019s shareholders.
q) Derecognition of intangible assets
An intangible asset is derecognised on disposal, or when no future economic
benefits are expected from use or disposal. Gains or losses arising from
derecognition of an intangible asset, measured as the difference between the
net disposal proceeds and the carrying amount of the asset, are recognised in
profit or loss when the asset is derecognised.
r) \u00a0 Trademarks
Trademarks are measured initially at purchase cost and are amortised on a
straight-line basis over their estimated lives.
Capitalisation of internally developed software
Distinguishing the research and development phases of software projects and
determining whether the recognition requirements for the capitalisation of its
development costs are met requires judgement. After capitalisation,
management monitors whether the recognition requirements continue to be met
and whether there are any indicators that capitalised costs may be impaired.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-296": { "value": "Financial instruments
Financial assets - Classification and measurement
The Group classifies its financial assets in the following measurement categories:
\u2022 those to be measured subsequently at fair value (either through OCI or through
profit or loss);
\u2022 those to be measured at amortised cost.
The classification depends on the entity\u2019s business model for managing the
financial assets and the contractual terms of the cash flows.
Financial assets - Recognition and derecognition
Regular purchases and sales of financial assets are recognised on the trade-
date, the date on which the Group commits to purchase or sell the asset.
Financial assets are derecognised when the rights to receive cash flows from the
financial assets have expired or have been transferred and the Group has
transferred substantially all the risks and rewards of ownership.
Financial assets - Measurements
At initial recognition the Group measures a financial asset at its fair value plus, in
the case of a financial asset not at fair value through profit or loss, transaction
costs that are directly attributable to the acquisition of the financial asset.
Transaction costs of financial assets carried at fair value through profit or loss are
expensed in profit or loss.
Debt instruments
Subsequent measurement of debt instruments depends on the Group\u2019s business
model for managing the asset and the cash flow characteristics of the asset.
There are three measurement categories into which the Group classifies its debt
instruments:
\u2022 Amortised cost
\u2022 Fair value through profit or loss
\u2022 Fair value through other comprehensive income.
The Group only has financial assets at amortised cost and makes no use of
derivative financial instruments.
Amortised cost
Assets that are held for collection of contractual cash flows where those cash
flows represent solely payments of principal and interest are measured at
amortised cost. Interest income from these financial assets is included in finance
income using the effective interest rate method. Any gain or loss arising on
derecognition is recognised directly in profit or loss and presented in other
gains/losses together with foreign exchange gains and losses.
Financial assets - Impairment
The Group assesses on a forward looking basis the expected credit losses
associated with its debt instruments carried at amortised cost.
The Group has no trade receivables nor amounts due from customers for
contract work including a significant finance component and is therefore
required to apply the simplified approach under IFRS 9, in which the credit losses
are measured using a lifetime expected loss allowance for all trade receivables
and amounts due from customers for contract work. Information about the
Group\u2019s exposure to credit risk and measurement of impairment losses for trade
receivables is included in Note 15.
Financial liabilities - Recognition and measurement
Financial liabilities are recognised when the Group becomes a party to the
contractual provisions of the financial instrument.
The Group has financial liabilities measured at amortised cost. The Group may
also issue financial guarantees, see below; it makes no use of other types of
derivative financial instruments.
Financial liabilities at amortised cost
Financial liabilities at amortised cost include trade and other payables and long-
term debt. Trade and other payables and long-term debt are initially recognised
at fair value equalling the amount required to be paid, less, when material, a
discount to reduce the payables to fair value. Subsequently, trade and other
payables and long-term debt are measured at amortised cost using the effective
interest method. Trade and other payables are classified as current liabilities due
to their short term nature, except for maturities greater than 12 months after the
end of the reporting period. These are classified as non-current liabilities.
Financial liabilities - Derecognition
The Group derecognises a financial liability when its contractual obligations are
discharged or cancelled, or expire. On derecognition of a financial liability, the
difference between the carrying amount extinguished and the consideration
paid (including any non-cash assets transferred or liabilities assumed) is
recognised in the income statement.
The Group also derecognises a financial liability when its terms are modified and
the cash flows of the modified liability are substantially different, in which case a
new financial liability based on the modified terms is recognised at fair value.
However, when the cash flows of the modified liability are not substantially
different, the Group (i) recalculates the amortised cost of the modified financial
liability by discounting the modified contractual cash flows using the original
effective interest rate and (ii) recognises any adjustment in the income
statement.
Financial guarantees
Financial guarantee contracts are recognised as a financial liability at the time the
guarantee is issued. The liability is initially measured at fair value and subsequently
at the higher of:
\u2022 the amount determined in accordance with the expected credit loss model
under IFRS\u00a09 Financial Instruments, and
\u2022 the amount initially recognised less, where appropriate, the cumulative
amount of income recognised in accordance with the principles of IFRS 15
Revenue from Contracts with Customers.
The fair value of financial guarantees is determined based on the present value of
the difference in cash flows between the contractual payments required under
the debt instrument and the payments that would be required without the
guarantee, or the estimated amount that would be payable to a third party for
assuming the obligations.
Where guarantees in relation to loans or other payables of associates are
provided for no compensation, the fair values are accounted for as contributions
and recognised as part of the cost of the investment.
'Own use'
Renewable Purchasing Contracts are classified for \u2018own use\u2019 if they are settled by
physical delivery or receipt of electricity in line with the Group\u2019s needs.
Transactions based upon these contracts are recognised through the income
statement in the period in which delivery or receipt takes place. These contracts
are out of scope of the recognition and measurement criteria for derivative
financial instruments, which is a consequence of the application of the 'own use
exemption' in IFRS 9 \u2018Financial Instruments\u2019. The Group has done an in-depth
assessment of whether these contracts qualify for the exemption.
Offsetting financial instruments
Financial assets and liabilities are offset and the net amount reported in the
balance sheet when there is a legally enforceable right to offset the recognised
amounts and there is an intention to settle on a net basis or realise the asset and
settle the liability simultaneously. The Group and its counterparties do not have
any legally enforceable right to offset the recognised amounts in the balance
sheet.
Finance costs
Finance expenses comprise interest expenses on interest-bearing loans and
borrowings and lease liabilities, and other financial expenses. Interest expenses
on interest-bearing loans and lease liabilities are recognized\u00a0 in the statement of
profit and loss as they accrue, using the effective interest method.
Construction service arrangements contractual assets
During the year, the contract assets increased significantly as The Company
initiated and completed construction related to a service concession
arrangement with the German Government for work on the Highway Tender
(which was awarded to Fastned in 2023), which entails constructing and
operating high-power charging sites across German Highways. The contract is
expected to last 8 years, with an option to extend for a maximum of 2 further
years. A contract asset is recognized to the extent that construction work has
been performed but not yet billed.\u00a0 The contract asset represents the Company's
right to consideration for construction services performed to date:
\u2022 Rights to use specified assets: The Group is granted the right to use specified
sites along federal motorways to provide fast-charging services for the
duration of the contract. Legal ownership of the constructed HPC
infrastructure remains with the grantor throughout and after the contract term.
\u2022 Obligations to provide services: The Group is obligated to operate and
maintain the HPC charging infrastructure in accordance with defined
performance standards.
\u2022 Obligations to build PPE: The Group is responsible for the planning and
construction of fully functional HPC charging facilities at 34 designated
locations.
\u2022 Rights to receive/deliver specified assets: At the end of the concession period
(initially 8 years, with a potential 2-year extension), the Group must transfer the
operational infrastructure to the grantor in a specified condition.
The measurement of the contract asset is subject to certain judgments and
estimates, including the determination of the fair value of construction services
and the discount rate applied to cash flows. The value of the contract assets is
based on the calculation of the construction revenue. Refer to 'Determination of
Standalone Selling Price for Construction Revenue'\u00a0 in Note 3 to the financial
statements where the judgements in determining this value is disclosed, leading
to a significant financing component due to the difference between the cash to
be received over the course of 8 years and the amount recognised as revenue. IN
2025, \u20ac28 thousand was recognised as interest as a result of the financing
component.
The amount, timing, and certainty of future cash flows are influenced by the
following significant terms of the arrangement:
\u2022 Price and Access Regulation: The Group's right to charge users is subject to a
price cap for ad-hoc charging and non-discriminatory access requirements
for mobility providers
\u2022 Variable Fee-Sharing: The Group is required to pay the grantor a fee based on
kWh electricity supplied
\u2022 Performance-Linked Penalties: Future cash inflows from operator fees may be
reduced by contractual penalties if the HPC charging points fail to meet
defined technical availability and maintenance standards
\u2022 Indexation: The operator fee is subject to annual adjustments based on
specific German labour and producer price indices, affecting the nominal
value of future receipts
Unsatisfied construction service arrangements
The aggregate amount of the transaction price allocated to construction service
contracts that are partially or fully unsatisfied as at 31 December 2025 amount to
\u20ac23.9 million.\u00a0 Management expects that 100% of the transaction price allocated
to unsatisfied performance obligations as of 31 December 2025 will be
recognised as revenue during the next year.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-297": { "value": "
Financial assets - Classification and measurement
The Group classifies its financial assets in the following measurement categories:
\u2022 those to be measured subsequently at fair value (either through OCI or through
profit or loss);
\u2022 those to be measured at amortised cost.
The classification depends on the entity\u2019s business model for managing the
financial assets and the contractual terms of the cash flows.
Financial assets - Recognition and derecognition
Regular purchases and sales of financial assets are recognised on the trade-
date, the date on which the Group commits to purchase or sell the asset.
Financial assets are derecognised when the rights to receive cash flows from the
financial assets have expired or have been transferred and the Group has
transferred substantially all the risks and rewards of ownership.
Financial assets - Measurements
At initial recognition the Group measures a financial asset at its fair value plus, in
the case of a financial asset not at fair value through profit or loss, transaction
costs that are directly attributable to the acquisition of the financial asset.
Transaction costs of financial assets carried at fair value through profit or loss are
expensed in profit or loss.
Debt instruments
Subsequent measurement of debt instruments depends on the Group\u2019s business
model for managing the asset and the cash flow characteristics of the asset.
There are three measurement categories into which the Group classifies its debt
instruments:
\u2022 Amortised cost
\u2022 Fair value through profit or loss
\u2022 Fair value through other comprehensive income.
The Group only has financial assets at amortised cost and makes no use of
derivative financial instruments.
Amortised cost
Assets that are held for collection of contractual cash flows where those cash
flows represent solely payments of principal and interest are measured at
amortised cost. Interest income from these financial assets is included in finance
income using the effective interest rate method. Any gain or loss arising on
derecognition is recognised directly in profit or loss and presented in other
gains/losses together with foreign exchange gains and losses.
Financial assets - Impairment
The Group assesses on a forward looking basis the expected credit losses
associated with its debt instruments carried at amortised cost.
The Group has no trade receivables nor amounts due from customers for
contract work including a significant finance component and is therefore
required to apply the simplified approach under IFRS 9, in which the credit losses
are measured using a lifetime expected loss allowance for all trade receivables
and amounts due from customers for contract work. Information about the
Group\u2019s exposure to credit risk and measurement of impairment losses for trade
receivables is included in Note 15.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-298": { "value": "
Financial assets - Recognition and derecognition
Regular purchases and sales of financial assets are recognised on the trade-
date, the date on which the Group commits to purchase or sell the asset.
Financial assets are derecognised when the rights to receive cash flows from the
financial assets have expired or have been transferred and the Group has
transferred substantially all the risks and rewards of ownership.
Financial liabilities - Derecognition
The Group derecognises a financial liability when its contractual obligations are
discharged or cancelled, or expire. On derecognition of a financial liability, the
difference between the carrying amount extinguished and the consideration
paid (including any non-cash assets transferred or liabilities assumed) is
recognised in the income statement.
The Group also derecognises a financial liability when its terms are modified and
the cash flows of the modified liability are substantially different, in which case a
new financial liability based on the modified terms is recognised at fair value.
However, when the cash flows of the modified liability are not substantially
different, the Group (i) recalculates the amortised cost of the modified financial
liability by discounting the modified contractual cash flows using the original
effective interest rate and (ii) recognises any adjustment in the income
statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-299": { "value": "
Financial assets - Measurements
At initial recognition the Group measures a financial asset at its fair value plus, in
the case of a financial asset not at fair value through profit or loss, transaction
costs that are directly attributable to the acquisition of the financial asset.
Transaction costs of financial assets carried at fair value through profit or loss are
expensed in profit or loss.
Debt instruments
Subsequent measurement of debt instruments depends on the Group\u2019s business
model for managing the asset and the cash flow characteristics of the asset.
There are three measurement categories into which the Group classifies its debt
instruments:
\u2022 Amortised cost
\u2022 Fair value through profit or loss
\u2022 Fair value through other comprehensive income.
The Group only has financial assets at amortised cost and makes no use of
derivative financial instruments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-300": { "value": "
Financial assets - Measurements
At initial recognition the Group measures a financial asset at its fair value plus, in
the case of a financial asset not at fair value through profit or loss, transaction
costs that are directly attributable to the acquisition of the financial asset.
Transaction costs of financial assets carried at fair value through profit or loss are
expensed in profit or loss.
Financial liabilities are recognised when the Group becomes a party to the
contractual provisions of the financial instrument.
The Group has financial liabilities measured at amortised cost. The Group may
also issue financial guarantees, see below; it makes no use of other types of
derivative financial instruments.
Financial liabilities - Derecognition
The Group derecognises a financial liability when its contractual obligations are
discharged or cancelled, or expire. On derecognition of a financial liability, the
difference between the carrying amount extinguished and the consideration
paid (including any non-cash assets transferred or liabilities assumed) is
recognised in the income statement.
The Group also derecognises a financial liability when its terms are modified and
the cash flows of the modified liability are substantially different, in which case a
new financial liability based on the modified terms is recognised at fair value.
However, when the cash flows of the modified liability are not substantially
different, the Group (i) recalculates the amortised cost of the modified financial
liability by discounting the modified contractual cash flows using the original
effective interest rate and (ii) recognises any adjustment in the income
statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-301": { "value": "
The Group assesses on a forward looking basis the expected credit losses
associated with its debt instruments carried at amortised cost.
The Group has no trade receivables nor amounts due from customers for
contract work including a significant finance component and is therefore
required to apply the simplified approach under IFRS 9, in which the credit losses
are measured using a lifetime expected loss allowance for all trade receivables
and amounts due from customers for contract work. Information about the
Group\u2019s exposure to credit risk and measurement of impairment losses for trade
receivables is included in Note 15.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-302": { "value": "
Financial liabilities - Recognition and measurement
Financial liabilities are recognised when the Group becomes a party to the
contractual provisions of the financial instrument.
The Group has financial liabilities measured at amortised cost. The Group may
also issue financial guarantees, see below; it makes no use of other types of
derivative financial instruments.
Financial liabilities at amortised cost
Financial liabilities at amortised cost include trade and other payables and long-
term debt. Trade and other payables and long-term debt are initially recognised
at fair value equalling the amount required to be paid, less, when material, a
discount to reduce the payables to fair value. Subsequently, trade and other
payables and long-term debt are measured at amortised cost using the effective
interest method. Trade and other payables are classified as current liabilities due
to their short term nature, except for maturities greater than 12 months after the
end of the reporting period. These are classified as non-current liabilities.
Financial liabilities - Derecognition
The Group derecognises a financial liability when its contractual obligations are
discharged or cancelled, or expire. On derecognition of a financial liability, the
difference between the carrying amount extinguished and the consideration
paid (including any non-cash assets transferred or liabilities assumed) is
recognised in the income statement.
The Group also derecognises a financial liability when its terms are modified and
the cash flows of the modified liability are substantially different, in which case a
new financial liability based on the modified terms is recognised at fair value.
However, when the cash flows of the modified liability are not substantially
different, the Group (i) recalculates the amortised cost of the modified financial
liability by discounting the modified contractual cash flows using the original
effective interest rate and (ii) recognises any adjustment in the income
statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-303": { "value": "
Financial liabilities at amortised cost
Financial liabilities at amortised cost include trade and other payables and long-
term debt. Trade and other payables and long-term debt are initially recognised
at fair value equalling the amount required to be paid, less, when material, a
discount to reduce the payables to fair value. Subsequently, trade and other
payables and long-term debt are measured at amortised cost using the effective
interest method. Trade and other payables are classified as current liabilities due
to their short term nature, except for maturities greater than 12 months after the
end of the reporting period. These are classified as non-current liabilities.
Financial liabilities - Derecognition
The Group derecognises a financial liability when its contractual obligations are
discharged or cancelled, or expire. On derecognition of a financial liability, the
difference between the carrying amount extinguished and the consideration
paid (including any non-cash assets transferred or liabilities assumed) is
recognised in the income statement.
The Group also derecognises a financial liability when its terms are modified and
the cash flows of the modified liability are substantially different, in which case a
new financial liability based on the modified terms is recognised at fair value.
However, when the cash flows of the modified liability are not substantially
different, the Group (i) recalculates the amortised cost of the modified financial
liability by discounting the modified contractual cash flows using the original
effective interest rate and (ii) recognises any adjustment in the income
statement.
Financial guarantees
Financial guarantee contracts are recognised as a financial liability at the time the
guarantee is issued. The liability is initially measured at fair value and subsequently
at the higher of:
\u2022 the amount determined in accordance with the expected credit loss model
under IFRS\u00a09 Financial Instruments, and
\u2022 the amount initially recognised less, where appropriate, the cumulative
amount of income recognised in accordance with the principles of IFRS 15
Revenue from Contracts with Customers.
The fair value of financial guarantees is determined based on the present value of
the difference in cash flows between the contractual payments required under
the debt instrument and the payments that would be required without the
guarantee, or the estimated amount that would be payable to a third party for
assuming the obligations.
Where guarantees in relation to loans or other payables of associates are
provided for no compensation, the fair values are accounted for as contributions
and recognised as part of the cost of the investment.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-304": { "value": "
Financial liabilities at amortised cost include trade and other payables and long-
term debt. Trade and other payables and long-term debt are initially recognised
at fair value equalling the amount required to be paid, less, when material, a
discount to reduce the payables to fair value. Subsequently, trade and other
payables and long-term debt are measured at amortised cost using the effective
interest method. Trade and other payables are classified as current liabilities due
to their short term nature, except for maturities greater than 12 months after the
end of the reporting period. These are classified as non-current liabilities", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-305": { "value": "
Financial guarantees
Financial guarantee contracts are recognised as a financial liability at the time the
guarantee is issued. The liability is initially measured at fair value and subsequently
at the higher of:
\u2022 the amount determined in accordance with the expected credit loss model
under IFRS\u00a09 Financial Instruments, and
\u2022 the amount initially recognised less, where appropriate, the cumulative
amount of income recognised in accordance with the principles of IFRS 15
Revenue from Contracts with Customers.
The fair value of financial guarantees is determined based on the present value of
the difference in cash flows between the contractual payments required under
the debt instrument and the payments that would be required without the
guarantee, or the estimated amount that would be payable to a third party for
assuming the obligations.
Where guarantees in relation to loans or other payables of associates are
provided for no compensation, the fair values are accounted for as contributions
and recognised as part of the cost of the investment.
'Own use'
Renewable Purchasing Contracts are classified for \u2018own use\u2019 if they are settled by
physical delivery or receipt of electricity in line with the Group\u2019s needs.
Transactions based upon these contracts are recognised through the income
statement in the period in which delivery or receipt takes place. These contracts
are out of scope of the recognition and measurement criteria for derivative
financial instruments, which is a consequence of the application of the 'own use
exemption' in IFRS 9 \u2018Financial Instruments\u2019. The Group has done an in-depth
assessment of whether these contracts qualify for the exemption.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-306": { "value": "
Offsetting financial instruments
Financial assets and liabilities are offset and the net amount reported in the
balance sheet when there is a legally enforceable right to offset the recognised
amounts and there is an intention to settle on a net basis or realise the asset and
settle the liability simultaneously. The Group and its counterparties do not have
any legally enforceable right to offset the recognised amounts in the balance
sheet.
Finance costs
Finance expenses comprise interest expenses on interest-bearing loans and
borrowings and lease liabilities, and other financial expenses. Interest expenses
on interest-bearing loans and lease liabilities are recognized\u00a0 in the statement of
profit and loss as they accrue, using the effective interest method.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-309": { "value": "
Finance costs
Finance expenses comprise interest expenses on interest-bearing loans and
borrowings and lease liabilities, and other financial expenses. Interest expenses
on interest-bearing loans and lease liabilities are recognized\u00a0 in the statement of
profit and loss as they accrue, using the effective interest method.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-307": { "value": "
Finance costs
Finance expenses comprise interest expenses on interest-bearing loans and
borrowings and lease liabilities, and other financial expenses. Interest expenses
on interest-bearing loans and lease liabilities are recognized\u00a0 in the statement of
profit and loss as they accrue, using the effective interest method.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-308": { "value": "
Finance costs
Finance expenses comprise interest expenses on interest-bearing loans and
borrowings and lease liabilities, and other financial expenses. Interest expenses
on interest-bearing loans and lease liabilities are recognized\u00a0 in the statement of
profit and loss as they accrue, using the effective interest method", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-311": { "value": "Provisions
Provisions are recognised when the Group has a present obligation (legal or
constructive) as a result of a past event, it is probable that the Group will be
required to settle that obligation and a reliable estimate can be made of the
amount of the obligation. The Group records provisions for decommissioning
costs of charging stations, see Note 22 for details.
The amount recognised as a provision is the best estimate of the consideration
required to settle the present obligation at the reporting date, taking into
account the risks and uncertainties surrounding the obligation. Where a provision
is measured using the cash flows estimated to settle the present obligation, its
carrying amount is the present value of those cash flows (when the effect of the
time value of money is material).
When some or all of the economic benefits required to settle a provision are
expected to be recovered from a third party, a receivable is recognised as an
asset if it is virtually certain that reimbursement will be received and the amount of
the receivable can be measured reliably.
Provision for decommissioning
Under the rental agreements with the Dutch Rijksvastgoedbedrijf and with
various other landlords for the land of the charging stations, the Group has
recognised a provision for decommissioning obligations. In determining the
present value of the expected cash outflow of the provision, assumptions and
estimates are made in relation to discount rates, the expected cost to dismantle
and remove the charging station from the site and the expected timing of those
costs. The carrying amount of the provision as at 31 December 2025 was \u20ac20.3
million (2024: \u20ac17.6 million). The Group estimates that the costs would be realised
after expiration of the rental contract and calculates the provision using the DCF
method based on the following assumptions:
\u2022 Estimated cost of removal: \u20ac26-121 thousand depending on the size of the
station
\u2022 Estimated duration till expiry: 2-30 years
\u2022 Inflation of 2.0% (2024: 2.0%) based on 5 year ahead
\u2022 Discount rate of 3.37% (2024: 2.60%) based on the 20 year Eurozone bond
If the estimated pre-tax discount rate used in the calculation had been 1% higher
than management\u2019s estimate, the carrying amount of the provision would have
been \u20ac1.8 million lower. If the estimated inflation had been 1% higher than
management's estimate, the carrying amount of the provision would have been
\u20ac2.1 million higher.
Further details on the provision is disclosed in Note 22.
Power Purchase Agreements \u2018Own Use\u2019 assumptions
The Group has entered into PPAs during 2025. To assess whether the PPA
classifies as \u201cOwn Use\u201d (as explained in Accounting Policies), requires judgement
due to uncertainties in production and consumption values. The unpredictability
of the supply and the inability to economically store the electricity at scale are
unique characteristics of PPAs from intermittent energy sources. Refer to
Note\u00a015.6 for further disclosure.
The Group assessed the accounting treatment of the PPAs, considering the
following:
\u2022 Consolidation: The Group does not consolidate the renewable energy
projects per IFRS 10 as it does not have the power to direct the activities of the
energy suppliers, is not exposed to variable returns from the projects, and
cannot use its power to affect the amount of its returns.\u00a0 \u00a0
\u2022 Lease: The Group does not consider the PPAs to be leases in terms of IFRS 16
as it was not involved in the design of the renewable energy projects, and it
does not have the right to direct the use of the renewable energy projects.
\u2022 Own Use: The Group applies the \u201cown use\u201d exemption under IFRS 9, as it
intends to consume all the electricity produced by the renewable energy
projects. This assessment requires judgement due to uncertainties in
production and consumption values. The Group carefully considered the
overall design and structure of the contracts, the frequency and volumetric
magnitude of sales due to excess deliveries, and the risk management
objective in relation to excess deliveries. The PPAs are entered into for hedging
the price risk.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDecommissioningRestorationAndRehabilitationProvisionsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-310": { "value": "Provisions
Provisions are recognised when the Group has a present obligation (legal or
constructive) as a result of a past event, it is probable that the Group will be
required to settle that obligation and a reliable estimate can be made of the
amount of the obligation. The Group records provisions for decommissioning
costs of charging stations, see Note 22 for details.
The amount recognised as a provision is the best estimate of the consideration
required to settle the present obligation at the reporting date, taking into
account the risks and uncertainties surrounding the obligation. Where a provision
is measured using the cash flows estimated to settle the present obligation, its
carrying amount is the present value of those cash flows (when the effect of the
time value of money is material).
When some or all of the economic benefits required to settle a provision are
expected to be recovered from a third party, a receivable is recognised as an
asset if it is virtually certain that reimbursement will be received and the amount of
the receivable can be measured reliably.
Provision for decommissioning
Under the rental agreements with the Dutch Rijksvastgoedbedrijf and with
various other landlords for the land of the charging stations, the Group has
recognised a provision for decommissioning obligations. In determining the
present value of the expected cash outflow of the provision, assumptions and
estimates are made in relation to discount rates, the expected cost to dismantle
and remove the charging station from the site and the expected timing of those
costs. The carrying amount of the provision as at 31 December 2025 was \u20ac20.3
million (2024: \u20ac17.6 million). The Group estimates that the costs would be realised
after expiration of the rental contract and calculates the provision using the DCF
method based on the following assumptions:
\u2022 Estimated cost of removal: \u20ac26-121 thousand depending on the size of the
station
\u2022 Estimated duration till expiry: 2-30 years
\u2022 Inflation of 2.0% (2024: 2.0%) based on 5 year ahead
\u2022 Discount rate of 3.37% (2024: 2.60%) based on the 20 year Eurozone bond
If the estimated pre-tax discount rate used in the calculation had been 1% higher
than management\u2019s estimate, the carrying amount of the provision would have
been \u20ac1.8 million lower. If the estimated inflation had been 1% higher than
management's estimate, the carrying amount of the provision would have been
\u20ac2.1 million higher.
Further details on the provision is disclosed in Note 22.
Power Purchase Agreements \u2018Own Use\u2019 assumptions
The Group has entered into PPAs during 2025. To assess whether the PPA
classifies as \u201cOwn Use\u201d (as explained in Accounting Policies), requires judgement
due to uncertainties in production and consumption values. The unpredictability
of the supply and the inability to economically store the electricity at scale are
unique characteristics of PPAs from intermittent energy sources. Refer to
Note\u00a015.6 for further disclosure.
The Group assessed the accounting treatment of the PPAs, considering the
following:
\u2022 Consolidation: The Group does not consolidate the renewable energy
projects per IFRS 10 as it does not have the power to direct the activities of the
energy suppliers, is not exposed to variable returns from the projects, and
cannot use its power to affect the amount of its returns.\u00a0 \u00a0
\u2022 Lease: The Group does not consider the PPAs to be leases in terms of IFRS 16
as it was not involved in the design of the renewable energy projects, and it
does not have the right to direct the use of the renewable energy projects.
\u2022 Own Use: The Group applies the \u201cown use\u201d exemption under IFRS 9, as it
intends to consume all the electricity produced by the renewable energy
projects. This assessment requires judgement due to uncertainties in
production and consumption values. The Group carefully considered the
overall design and structure of the contracts, the frequency and volumetric
magnitude of sales due to excess deliveries, and the risk management
objective in relation to excess deliveries. The PPAs are entered into for hedging
the price risk.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-312": { "value": "Share-based payments
Share-based payment transactions of the Group
Equity-settled share-based payments to employees and others providing similar
services are measured at the fair value of the equity instruments at the grant date.
Significant management judgement is applied to determine the service
commencement date. There is no service commencement date recognised
before the grant date as management has significant and binding discretionary
rights in the execution of the option plan once the milestone is achieved. As a
result, no constructive or legal obligation is present before the grant date. The
option plan is recognised at a specific date. Details regarding the determination
of the fair value of these equity-settled share-based transactions are set out in
Note 24.
The previous option plan and a small portion of the current option plan for
Belgium employees incorporate vesting conditions. For these options, the fair
value determined at the grant date of the equity-settled share-based payments
is expensed on a straight-line basis over the vesting period, based on the Group\u2019s
estimate of the number of equity instruments that will eventually vest. At each
reporting date, the Group revises its estimate of the number of equity
instruments expected to vest as a result of the effect of non-market-based
vesting conditions. The impact of the revision of the original estimates, if any, is
recognised in profit or loss such that the cumulative expense reflects the revised
estimate, with a corresponding adjustment to reserves.
Share-based compensation
We use the fair value method of accounting for share options granted to
employees to measure the cost of employee services received in exchange for
the stock-based awards. Significant management judgement is applied to
determine the service commencement date. There is no service commencement
date recognised before the grant date as management has significant and
binding discretionary rights in the execution of the option plan once the
milestone is achieved. As a result, no constructive or legal obligation is present
before the grant date. The option plan is recognised as point in time.
The fair value of stock option awards is estimated using the Hull-White option-
pricing model, see Note 24. The option-pricing model requires inputs such as the
risk-free interest rate, expected term and expected volatility. These inputs are
subjective and generally require significant judgment.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-315": { "value": "Changes in accounting policies
The Group has applied a change in accounting policy of renewable energy units.
The new accounting policy provides reliable and more relevant information
regarding the REC's granted by the government to Fastned. Initial recognition of
renewable energy units through fair value provides a transparent view to the value
of environmental credits granted. This improves the view of the true stock of
environmental assets on the balance sheet and the margin realized when
renewable energy units are sold. The change in accounting policy enhances
comparability of key metrics across the companies in the EV charging industry.
See Note 2 for the accounting policy selected for initial and subsequent
measurement and sale of renewable energy units.
The change in accounting policy has been applied for the periods beginning on or
after January 1, 2025. We applied full retrospective approach, and, therefore, the
comparative figures for the 2024 financial year have been restated as presented
below.
As a result, the Group has recognized inventory on the balance sheet. On the
income statement, there are changes to the cost of sales reflecting the value of
the compensation of the costs incurred. Changes to revenue recognition reflect
the timing between the grant date of REC's, price development of the REC's and
margin realized when assets are sold. Previously, revenue was recognized at the
contract date of the sale, as most of the earlier contracts were less detailed on
the moment of transfer of control.
The change in accounting policy did not have a material effect on the balance
sheet as per January 1, 2024.
Consolidated income statement - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Revenue
86,736
(2,957)
83,779
Cost of sales
(18,149)
2,957
(15,192)
Gross profit
68,587
\u2014
68,587
Operating expenses
(84,652)
\u2014
(84,652)
Operating loss
(16,065)
\u2014
(16,065)
Finance cost
(15,042)
\u2014
(15,042)
Finance income
4,107
\u2014
4,107
Loss before tax
(27,000)
\u2014
(27,000)
Income tax
359
\u2014
359
Loss for the year
(26,641)
\u2014
(26,641)
Attributable to equity holders of the
Group
(26,641)
\u2014
(26,641)
Earnings per share (\u20ac/share)
Basic, loss for the year attributable to
ordinary equity holders of the Group
(1.38)
\u2014
(1.38)
Diluted, loss for the year attributable to
ordinary equity holders of the Group
(1.38)
\u2014
(1.38)
Consolidated balance sheet - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Non-current assets
275,185
\u2014
275,185
Current assets
Current financial assets
150
\u2014
150
Inventory
\u2014
4,417
4,417
Contract assets
433
\u2014
433
Prepayments
12,797
\u2014
12,797
Trade and other receivables
20,714
(4,417)
16,297
Cash and cash equivalents
117,416
\u2014
117,416
Total assets
426,695
\u2014
426,695
Equity
122,693
\u2014
122,693
Non-current liabilities
256,751
\u2014
256,751
Current liabilities
47,251
\u2014
47,251
Total liabilities
304,002
\u2014
304,002
Total equity and liabilities
426,695
\u2014
426,695
Consolidated statement of cash flow - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Loss before tax
(27,000)
\u2014
(27,000)
Adjustments to reconcile loss before
taxation to net cash provided by
operating activities:
26,517
\u2014
26,517
Working capital adjustments:
Movement in Inventory
\u2014
(2,957)
(2,957)
Movement in trade and other receivables
and prepayments
(9,301)
2,957
(6,344)
Movement in trade and other payables
2,175
\u2014
2,175
Net cash flows from operating activities
(7,609)
\u2014
(7,609)
Net cash flows used in investing
activities
(68,042)
\u2014
(68,042)
Net cash flows from / (used in) financing
activities
66,975
\u2014
66,975
Currency translation differences relating
to cash and cash equivalents
(511)
\u2014
(511)
Change in cash and cash equivalents
(9,188)
\u2014
(9,188)
Cash and cash equivalents at 1 January
126,604
\u2014
126,604
Cash and cash equivalents at 31
December
117,416
\u2014
117,416
Decommissioning provision
\u20ac\u2019000
1 January 2025
17,615
Additions
2,461
Use
\u2014
Unwinding of Interest
668
Revised estimates
(1,540)
Change in Estimate
1,104
31 December 2025
20,309
1 January 2024
13,316
Additions
2,532
Use
\u2014
Unwinding of Interest
375
Revised estimates
5,915
Change in Estimate
(4,523)
31 December 2024
17,615
Additions relate to new stations constructed during the year, as well as new
shops or kiosks built. Included in the \u2018change in estimates\u2019 for the
decommissioning provision is an adjustment resulting from more accurate data
obtained to decommission stations in selected countries. As a result, the
provision for decommissioning provision has increased by \u20ac 1.1 million as of
31\u00a0December 2025 (2024: decrease of \u20ac4.5 million). The remaining \u2018revised
estimates\u2019 relate to a change in discount rate, decreasing the provision by \u20ac 1.5
million.
In accordance with IFRIC 1, the net decrease of \u20ac0.4 million in the
decommissioning provision was recognized as a corresponding decrease in the
carrying amount of the related Property, Plant, and Equipment (PPE).
The prospective impact of these changes on the Group\u2019s future financial
performance is as follows:
\u2022 Depreciation expense: \u20ac103 thousand decrease due to the lower capitalized
asset base, amortized over the remaining average concession period of 11
years.
\u2022 Interest expense: \u20ac145 thousand increase in the annual unwinding of the
discount, as the effect of the higher discount rate outweighs the decrease in
the principal liability balance.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-314": { "value": "Changes in accounting policies
The Group has applied a change in accounting policy of renewable energy units.
The new accounting policy provides reliable and more relevant information
regarding the REC's granted by the government to Fastned. Initial recognition of
renewable energy units through fair value provides a transparent view to the value
of environmental credits granted. This improves the view of the true stock of
environmental assets on the balance sheet and the margin realized when
renewable energy units are sold. The change in accounting policy enhances
comparability of key metrics across the companies in the EV charging industry.
See Note 2 for the accounting policy selected for initial and subsequent
measurement and sale of renewable energy units.
The change in accounting policy has been applied for the periods beginning on or
after January 1, 2025. We applied full retrospective approach, and, therefore, the
comparative figures for the 2024 financial year have been restated as presented
below.
As a result, the Group has recognized inventory on the balance sheet. On the
income statement, there are changes to the cost of sales reflecting the value of
the compensation of the costs incurred. Changes to revenue recognition reflect
the timing between the grant date of REC's, price development of the REC's and
margin realized when assets are sold. Previously, revenue was recognized at the
contract date of the sale, as most of the earlier contracts were less detailed on
the moment of transfer of control.
The change in accounting policy did not have a material effect on the balance
sheet as per January 1, 2024.
Consolidated income statement - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Revenue
86,736
(2,957)
83,779
Cost of sales
(18,149)
2,957
(15,192)
Gross profit
68,587
\u2014
68,587
Operating expenses
(84,652)
\u2014
(84,652)
Operating loss
(16,065)
\u2014
(16,065)
Finance cost
(15,042)
\u2014
(15,042)
Finance income
4,107
\u2014
4,107
Loss before tax
(27,000)
\u2014
(27,000)
Income tax
359
\u2014
359
Loss for the year
(26,641)
\u2014
(26,641)
Attributable to equity holders of the
Group
(26,641)
\u2014
(26,641)
Earnings per share (\u20ac/share)
Basic, loss for the year attributable to
ordinary equity holders of the Group
(1.38)
\u2014
(1.38)
Diluted, loss for the year attributable to
ordinary equity holders of the Group
(1.38)
\u2014
(1.38)
Consolidated balance sheet - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Non-current assets
275,185
\u2014
275,185
Current assets
Current financial assets
150
\u2014
150
Inventory
\u2014
4,417
4,417
Contract assets
433
\u2014
433
Prepayments
12,797
\u2014
12,797
Trade and other receivables
20,714
(4,417)
16,297
Cash and cash equivalents
117,416
\u2014
117,416
Total assets
426,695
\u2014
426,695
Equity
122,693
\u2014
122,693
Non-current liabilities
256,751
\u2014
256,751
Current liabilities
47,251
\u2014
47,251
Total liabilities
304,002
\u2014
304,002
Total equity and liabilities
426,695
\u2014
426,695
Consolidated statement of cash flow - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Loss before tax
(27,000)
\u2014
(27,000)
Adjustments to reconcile loss before
taxation to net cash provided by
operating activities:
26,517
\u2014
26,517
Working capital adjustments:
Movement in Inventory
\u2014
(2,957)
(2,957)
Movement in trade and other receivables
and prepayments
(9,301)
2,957
(6,344)
Movement in trade and other payables
2,175
\u2014
2,175
Net cash flows from operating activities
(7,609)
\u2014
(7,609)
Net cash flows used in investing
activities
(68,042)
\u2014
(68,042)
Net cash flows from / (used in) financing
activities
66,975
\u2014
66,975
Currency translation differences relating
to cash and cash equivalents
(511)
\u2014
(511)
Change in cash and cash equivalents
(9,188)
\u2014
(9,188)
Cash and cash equivalents at 1 January
126,604
\u2014
126,604
Cash and cash equivalents at 31
December
117,416
\u2014
117,416
", "dimensions": { "concept": "ifrs-full:DescriptionOfVoluntaryChangeInAccountingPolicy", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-313": { "value": "Changes in accounting policies
The Group has applied a change in accounting policy of renewable energy units.
The new accounting policy provides reliable and more relevant information
regarding the REC's granted by the government to Fastned. Initial recognition of
renewable energy units through fair value provides a transparent view to the value
of environmental credits granted. This improves the view of the true stock of
environmental assets on the balance sheet and the margin realized when
renewable energy units are sold. The change in accounting policy enhances
comparability of key metrics across the companies in the EV charging industry.
See Note 2 for the accounting policy selected for initial and subsequent
measurement and sale of renewable energy units.
The change in accounting policy has been applied for the periods beginning on or
after January 1, 2025. We applied full retrospective approach, and, therefore, the
comparative figures for the 2024 financial year have been restated as presented
below.
As a result, the Group has recognized inventory on the balance sheet. On the
income statement, there are changes to the cost of sales reflecting the value of
the compensation of the costs incurred. Changes to revenue recognition reflect
the timing between the grant date of REC's, price development of the REC's and
margin realized when assets are sold. Previously, revenue was recognized at the
contract date of the sale, as most of the earlier contracts were less detailed on
the moment of transfer of control.
The change in accounting policy did not have a material effect on the balance
sheet as per January 1, 2024.
Consolidated income statement - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Revenue
86,736
(2,957)
83,779
Cost of sales
(18,149)
2,957
(15,192)
Gross profit
68,587
\u2014
68,587
Operating expenses
(84,652)
\u2014
(84,652)
Operating loss
(16,065)
\u2014
(16,065)
Finance cost
(15,042)
\u2014
(15,042)
Finance income
4,107
\u2014
4,107
Loss before tax
(27,000)
\u2014
(27,000)
Income tax
359
\u2014
359
Loss for the year
(26,641)
\u2014
(26,641)
Attributable to equity holders of the
Group
(26,641)
\u2014
(26,641)
Earnings per share (\u20ac/share)
Basic, loss for the year attributable to
ordinary equity holders of the Group
(1.38)
\u2014
(1.38)
Diluted, loss for the year attributable to
ordinary equity holders of the Group
(1.38)
\u2014
(1.38)
Consolidated balance sheet - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Non-current assets
275,185
\u2014
275,185
Current assets
Current financial assets
150
\u2014
150
Inventory
\u2014
4,417
4,417
Contract assets
433
\u2014
433
Prepayments
12,797
\u2014
12,797
Trade and other receivables
20,714
(4,417)
16,297
Cash and cash equivalents
117,416
\u2014
117,416
Total assets
426,695
\u2014
426,695
Equity
122,693
\u2014
122,693
Non-current liabilities
256,751
\u2014
256,751
Current liabilities
47,251
\u2014
47,251
Total liabilities
304,002
\u2014
304,002
Total equity and liabilities
426,695
\u2014
426,695
Consolidated statement of cash flow - effect of change in accounting policy:
2024
Effect of
change in
accounting
policy
2024
\u20ac\u2019000
as reported
restated
Loss before tax
(27,000)
\u2014
(27,000)
Adjustments to reconcile loss before
taxation to net cash provided by
operating activities:
26,517
\u2014
26,517
Working capital adjustments:
Movement in Inventory
\u2014
(2,957)
(2,957)
Movement in trade and other receivables
and prepayments
(9,301)
2,957
(6,344)
Movement in trade and other payables
2,175
\u2014
2,175
Net cash flows from operating activities
(7,609)
\u2014
(7,609)
Net cash flows used in investing
activities
(68,042)
\u2014
(68,042)
Net cash flows from / (used in) financing
activities
66,975
\u2014
66,975
Currency translation differences relating
to cash and cash equivalents
(511)
\u2014
(511)
Change in cash and cash equivalents
(9,188)
\u2014
(9,188)
Cash and cash equivalents at 1 January
126,604
\u2014
126,604
Cash and cash equivalents at 31
December
117,416
\u2014
117,416
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-317": { "value": "Significant accounting
estimates, judgements
and\u00a0errors
In applying the Group\u2019s accounting policies, which are described in Note 2, the
directors are required to make judgements (other than those involving
estimations) that have a significant impact on the amounts recognised and to
make estimates and assumptions about the carrying amounts of assets and
liabilities that are not readily apparent from other sources. The estimates and
associated assumptions are based on historical experience and other factors
that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised in the period in which the
estimate is revised if the revision affects only that period, or in the period of the
revision and future periods if the revision affects both current and future periods.
Other disclosures relating to the Group\u2019s exposure to risks and uncertainties
include:
\u2022 Capital management (see Note 4)
\u2022 Financial risk management objectives and policies (see Note 15.6)
\u2022 Sensitivity analyses disclosures (see Note 15.6)
Judgements in applying the Group\u2019s accounting policies
The following are the critical judgements, apart from those involving estimations
(which are presented separately below), that the management have made in the
process of applying the Group\u2019s accounting policies and that have the most
significant effect on the amounts recognised in financial statements.
Capitalisation of internally developed software
Distinguishing the research and development phases of software projects and
determining whether the recognition requirements for the capitalisation of its
development costs are met requires judgement. After capitalisation,
management monitors whether the recognition requirements continue to be met
and whether there are any indicators that capitalised costs may be impaired.
Taxes
Deferred tax assets are recognised for unused tax losses to the extent that it is
probable that taxable profit will be available against which the losses can be
utilised. Significant management judgement is required to determine the amount
of deferred tax assets that can be recognised, based upon the likely timing and
the level of future taxable profits together with future tax planning strategies.
At year-end 2025, the Group has \u20ac 27.7 million (2024: \u20ac23.3 million) of tax losses
in the Netherlands, and \u20ac 81.1 million of tax losses (2024: \u20ac54.8 million) arising in
other countries. In addition, the Group has \u20ac 50.9 million of unrecognised
temporary differences. Due to uncertainty about size and timing of future profits
the directors have determined not to recognise deferred tax assets on the tax
losses carried forward.
If the Group would recognise all unrecognised deferred tax assets, profit and
equity would have increased by approximately \u20ac28.1 million depending on the
timing of the utilisation of the tax losses. Further details on taxes are disclosed in
Note 9.
Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation
regarding uncertainty at the reporting date that have a significant risk of causing
a material adjustment to the carrying amounts of assets and liabilities within the
next financial year are described below. The directors have based their
assumptions and estimates on parameters available when the financial
statements were prepared. Existing circumstances and assumptions about
future developments, however, may change due to market changes or
circumstances arising that are beyond the control of the Group. Such changes
are reflected in the assumptions when they occur.
Property, plant and equipment \u2013 depreciation and expected
useful lives
To determine the useful life of assets, estimates and assumptions are required.
Management used market data, supplier specifications and its experience with
the equipment to establish these estimates.
Concession Renewals and Rijkswaterstaat (RWS) Locations:
A significant portion of the Group\u2019s network in the Netherlands operates under
concessions granted by Rijkswaterstaat (RWS) in 2013. These concessions
generally have a 15-year duration and are scheduled to expire starting from 2028
up until 2036. For stations opened in recent years, the remaining concession term
is shorter than the useful life of the installed assets, which creates a risk of
accelerated depreciation for these assets.
Management has exercised judgement in concluding that the current useful lives
remain appropriate as of 31\u00a0December 2025. This judgement is based on the
following considerations:
\u2022 Extension Expectations: In the absence of definitive communication from the
Dutch government to the contrary, management expects that concessions
could be extended or renewed to ensure the continuity of the national
charging infrastructure, since some of the concession end dates are drawing
nearer with no clear transition/ handover plan communicated yet.
\u2022 Asset Redundancy and Redeployment: Fastned\u2019s modular station design
allows for the relocation of key components, such as chargers and canopies,
to other sites in the event of a non-renewal. Consequently, the legal expiry of a
single site concession does not necessarily terminate the economic benefit of
all assets at that location.
\u2022 Potential reimbursements: In determining that no accelerated depreciation is
required for RWS locations, management has considered the potential for
asset take-over arrangements or reimbursements for certain high-value
assets (e.g., grid connections and transformers). Because these assets are
expected to retain significant residual value through these arrangements, their
current carrying amounts are considered recoverable and do not necessitate a
shortened depreciation profile solely based on the primary concession term.
Despite these considerations, significant uncertainty remains regarding the
future regulatory framework and the re-tendering process for RWS sites. Factors
such as potential distance criteria or changes in government policy could result in
the Group losing the right to operate at specific locations.
The Group has performed risk assessments to determine the maximum impact if
these concessions end on the planned dates. The estimated exposures to
accelerated depreciation are as follows:
\u2022 If the concessions end on the scheduled date and Fastned does not retain
any sites: \u20ac15 million accelerated depreciation from 2027 to 2039
\u2022 If the concessions end on scheduled date and Fastned retains ~ 37.5% of
sites: \u20ac9 million accelerated depreciation from 2027 to 2039
\u2022 If the concession end dates are postponed by ~2 years, and the assumption
that 37.5% of the sites are retained: \u20ac7 million accelerated depreciation from
2027 to 2039
The evolving Dutch political landscape following the recent elections continues
to present significant uncertainty regarding the long-term RWS concession
framework. Management maintains that revising useful lives at this juncture would
be premature and could lead to a material reversal of depreciation in future
periods should concessions be extended or assets reimbursed. The Group
continues to monitor government communications and will adjust these
estimates prospectively if a change in the expected consumption pattern of
these assets becomes evident.
Property, plant and equipment \u2013 directly attributable staff
costs
Directly attributable staff costs are capitalised as part of the property, plant and
equipment. Management used inputs from job descriptions, project phases,
project planning and FTE planning to determine amounts and allocation keys for
the directly attributable staff costs.\u00a0
Impairment of non-financial assets
Impairment exists when the carrying value of an asset or cash generating unit
exceeds its recoverable amount, which is the higher of its fair value less costs of
disposal and its value in use. The fair value less costs of disposal calculation is
based on available data from binding sales transactions, conducted at arm\u2019s
length for similar assets less incremental costs for disposing of the asset. The
value in use calculation is based on a DCF model. The cash flows are derived from
the budget for the next five years and do not include restructuring activities that
the Group is not yet committed to or significant future investments that will
enhance the asset\u2019s performance of the cash-generating-unit (CGU) being
tested. The recoverable amount is sensitive to the discount rate used for the DCF
model as well as the expected future cash-inflows and the growth rate used for
extrapolation purposes.
Refer to Note 12 for further disclosure of the impairment on non-financial assets.
Impairment of financial assets
Impairment of financial assets exists when the counterparty is not able to meet its
obligations under a financial instrument or customer contract, leading to a
financial loss for the Group.
Provision for decommissioning
Under the rental agreements with the Dutch Rijksvastgoedbedrijf and with
various other landlords for the land of the charging stations, the Group has
recognised a provision for decommissioning obligations. In determining the
present value of the expected cash outflow of the provision, assumptions and
estimates are made in relation to discount rates, the expected cost to dismantle
and remove the charging station from the site and the expected timing of those
costs. The carrying amount of the provision as at 31 December 2025 was \u20ac20.3
million (2024: \u20ac17.6 million). The Group estimates that the costs would be realised
after expiration of the rental contract and calculates the provision using the DCF
method based on the following assumptions:
\u2022 Estimated cost of removal: \u20ac26-121 thousand depending on the size of the
station
\u2022 Estimated duration till expiry: 2-30 years
\u2022 Inflation of 2.0% (2024: 2.0%) based on 5 year ahead
\u2022 Discount rate of 3.37% (2024: 2.60%) based on the 20 year Eurozone bond
If the estimated pre-tax discount rate used in the calculation had been 1% higher
than management\u2019s estimate, the carrying amount of the provision would have
been \u20ac1.8 million lower. If the estimated inflation had been 1% higher than
management's estimate, the carrying amount of the provision would have been
\u20ac2.1 million higher.
Further details on the provision is disclosed in Note 22.
Power Purchase Agreements \u2018Own Use\u2019 assumptions
The Group has entered into PPAs during 2025. To assess whether the PPA
classifies as \u201cOwn Use\u201d (as explained in Accounting Policies), requires judgement
due to uncertainties in production and consumption values. The unpredictability
of the supply and the inability to economically store the electricity at scale are
unique characteristics of PPAs from intermittent energy sources. Refer to
Note\u00a015.6 for further disclosure.
The Group assessed the accounting treatment of the PPAs, considering the
following:
\u2022 Consolidation: The Group does not consolidate the renewable energy
projects per IFRS 10 as it does not have the power to direct the activities of the
energy suppliers, is not exposed to variable returns from the projects, and
cannot use its power to affect the amount of its returns.\u00a0 \u00a0
\u2022 Lease: The Group does not consider the PPAs to be leases in terms of IFRS 16
as it was not involved in the design of the renewable energy projects, and it
does not have the right to direct the use of the renewable energy projects.
\u2022 Own Use: The Group applies the \u201cown use\u201d exemption under IFRS 9, as it
intends to consume all the electricity produced by the renewable energy
projects. This assessment requires judgement due to uncertainties in
production and consumption values. The Group carefully considered the
overall design and structure of the contracts, the frequency and volumetric
magnitude of sales due to excess deliveries, and the risk management
objective in relation to excess deliveries. The PPAs are entered into for hedging
the price risk.
Fastned Founders Club deferred income
In May 2015, Fastned launched the Fastned Founders Club. This is a special group
of investors who have invested a minimum of \u20ac25,000 in the first primary
issuance of shares through NPEX or a minimum of \u20ac50,000 in the primary
issuance of shares through Nxchange in April - May 2016.
In return, these early investors can charge for free at Fastned stations for the rest
of their lives as long as they hold these Fastned certificates. The Group has
recognised deferred income for the estimated kWh to be charged by these
Founders. In determining the amount of the deferred income, assumptions and
estimates are made in relation to the amount of kWh the Founders will charge, the
discount rates, the expected cost of electricity and the expected timing of those
costs. The carrying amount of deferred income as at 31 December 2025 was
\u20ac175,000 (2024: \u20ac185,000). The Group estimates that the income will be
realised in 16.5 years\u2019 time as the average age of the Founders is 56.5 and that
60% of the Founders have a fully electric vehicle and will charge 35% of the time
at Fastned stations.
Refer to Note 23 for further quantitative information.
Share-based compensation
We use the fair value method of accounting for share options granted to
employees to measure the cost of employee services received in exchange for
the stock-based awards. Significant management judgement is applied to
determine the service commencement date. There is no service commencement
date recognised before the grant date as management has significant and
binding discretionary rights in the execution of the option plan once the
milestone is achieved. As a result, no constructive or legal obligation is present
before the grant date. The option plan is recognised as point in time.
The fair value of stock option awards is estimated using the Hull-White option-
pricing model, see Note 24. The option-pricing model requires inputs such as the
risk-free interest rate, expected term and expected volatility. These inputs are
subjective and generally require significant judgment.
Determination of Standalone Selling Price for Construction
Revenue
In 2025 the company continued planning & construction work on sites included in
the German Highway Tender contract which is treated in accordance with IFRIC
12, IFRS 9 & IFRS 15. Construction revenue is recognised at a Standalone Selling
Price ('SSP') which the Group would charge for construction services.
Determining the SSP for the construction service of the high-power charging
(HPC) sites involves significant judgement and estimation, as Fastned does not
routinely sell construction services separately.
In line with IFRS 15, the expected cost plus a margin approach is used to estimate
the SSP.\u00a0 This approach requires estimating the expected costs to complete the
construction and adding an appropriate profit margin.\u00a0 While the expected costs
are derived from the budget, determining the appropriate margin involves
significant judgement.\u00a0 Factors considered include the margin that Fastned
expects to receive on other services and the industry norm for construction
services of similar goods.\u00a0 Management's assessment of these factors and the
determination of the appropriate margin are subject to estimation uncertainty
and may impact the timing and amount of revenue recognized for the
construction service.
Since the construction of the stations and the operating thereof is considered a
single performance obligation towards the German Government, the higher of
net present value of guaranteed payments from the German Government
(Installation fees & Operating fees) and the SSP is used as the Transaction Price.
The net present value of guaranteed future payments include estimates, such as
the discount rate as well as timing of cash flows which depend on the
construction timelines.
The most appropriate discount rate to use (which is readily available) is the yield
on German government bonds (Bundesanleihen) with a maturity profile that
matches the expected timing of the cash receipts from the government. This rate
best reflects the time value of money and the credit risk of the counterparty (the
German government).
At inception date, the 10yr German Government bond yield rate of 2.5% is utilized
as the discount rate. 10 years is used, since the contract has a length of 8 years,
with the option to extend by 2 years.
Reference is made to Note 6, Note 15.2 and Note 17 for further disclosures
affected by this estimate.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-316": { "value": "Significant accounting estimates, judgements and\u00a0errors In applying the Group\u2019s accounting policies, which are described in Note 2, the directors are required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognised and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.Other disclosures relating to the Group\u2019s exposure to risks and uncertainties include:\u2022 Capital management (see Note 4)\u2022 Financial risk management objectives and policies (see Note 15.6)\u2022 Sensitivity analyses disclosures (see Note 15.6)Judgements in applying the Group\u2019s accounting policiesThe following are the critical judgements, apart from those involving estimations (which are presented separately below), that the management have made in the process of applying the Group\u2019s accounting policies and that have the most significant effect on the amounts recognised in financial statements.Capitalisation of internally developed software Distinguishing the research and development phases of software projects and determining whether the recognition requirements for the capitalisation of its development costs are met requires judgement. After capitalisation, management monitors whether the recognition requirements continue to be met and whether there are any indicators that capitalised costs may be impaired.TaxesDeferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits together with future tax planning strategies.At year-end 2025, the Group has \u20ac 27.7 million (2024: \u20ac23.3 million) of tax losses in the Netherlands, and \u20ac 81.1 million of tax losses (2024: \u20ac54.8 million) arising in other countries. In addition, the Group has \u20ac 50.9 million of unrecognised temporary differences. Due to uncertainty about size and timing of future profits the directors have determined not to recognise deferred tax assets on the tax losses carried forward.If the Group would recognise all unrecognised deferred tax assets, profit and equity would have increased by approximately \u20ac28.1 million depending on the timing of the utilisation of the tax losses. Further details on taxes are disclosed in Note 9.Estimates and assumptionsThe key assumptions concerning the future and other key sources of estimation regarding uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The directors have based their assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur.Property, plant and equipment \u2013 depreciation and expected useful livesTo determine the useful life of assets, estimates and assumptions are required. Management used market data, supplier specifications and its experience with the equipment to establish these estimates.Concession Renewals and Rijkswaterstaat (RWS) Locations:A significant portion of the Group\u2019s network in the Netherlands operates under concessions granted by Rijkswaterstaat (RWS) in 2013. These concessions generally have a 15-year duration and are scheduled to expire starting from 2028 up until 2036. For stations opened in recent years, the remaining concession term is shorter than the useful life of the installed assets, which creates a risk of accelerated depreciation for these assets.Management has exercised judgement in concluding that the current useful lives remain appropriate as of 31\u00a0December 2025. This judgement is based on the following considerations:\u2022 Extension Expectations: In the absence of definitive communication from the Dutch government to the contrary, management expects that concessions could be extended or renewed to ensure the continuity of the national charging infrastructure, since some of the concession end dates are drawing nearer with no clear transition/ handover plan communicated yet.\u2022 Asset Redundancy and Redeployment: Fastned\u2019s modular station design allows for the relocation of key components, such as chargers and canopies, to other sites in the event of a non-renewal. Consequently, the legal expiry of a single site concession does not necessarily terminate the economic benefit of all assets at that location.\u2022 Potential reimbursements: In determining that no accelerated depreciation is required for RWS locations, management has considered the potential for asset take-over arrangements or reimbursements for certain high-value assets (e.g., grid connections and transformers). Because these assets are expected to retain significant residual value through these arrangements, their current carrying amounts are considered recoverable and do not necessitate a shortened depreciation profile solely based on the primary concession term.Despite these considerations, significant uncertainty remains regarding the future regulatory framework and the re-tendering process for RWS sites. Factors such as potential distance criteria or changes in government policy could result in the Group losing the right to operate at specific locations. The Group has performed risk assessments to determine the maximum impact if these concessions end on the planned dates. The estimated exposures to accelerated depreciation are as follows: \u2022 If the concessions end on the scheduled date and Fastned does not retain any sites: \u20ac15 million accelerated depreciation from 2027 to 2039\u2022 If the concessions end on scheduled date and Fastned retains ~ 37.5% of sites: \u20ac9 million accelerated depreciation from 2027 to 2039\u2022 If the concession end dates are postponed by ~2 years, and the assumption that 37.5% of the sites are retained: \u20ac7 million accelerated depreciation from 2027 to 2039The evolving Dutch political landscape following the recent elections continues to present significant uncertainty regarding the long-term RWS concession framework. Management maintains that revising useful lives at this juncture would be premature and could lead to a material reversal of depreciation in future periods should concessions be extended or assets reimbursed. The Group continues to monitor government communications and will adjust these estimates prospectively if a change in the expected consumption pattern of these assets becomes evident.Property, plant and equipment \u2013 directly attributable staff costsDirectly attributable staff costs are capitalised as part of the property, plant and equipment. Management used inputs from job descriptions, project phases, project planning and FTE planning to determine amounts and allocation keys for the directly attributable staff costs.\u00a0 Impairment of non-financial assetsImpairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm\u2019s length for similar assets less incremental costs for disposing of the asset. The value in use calculation is based on a DCF model. The cash flows are derived from the budget for the next five years and do not include restructuring activities that the Group is not yet committed to or significant future investments that will enhance the asset\u2019s performance of the cash-generating-unit (CGU) being tested. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes.Refer to Note 12 for further disclosure of the impairment on non-financial assets.Impairment of financial assetsImpairment of financial assets exists when the counterparty is not able to meet its obligations under a financial instrument or customer contract, leading to a financial loss for the Group.Provision for decommissioningUnder the rental agreements with the Dutch Rijksvastgoedbedrijf and with various other landlords for the land of the charging stations, the Group has recognised a provision for decommissioning obligations. In determining the present value of the expected cash outflow of the provision, assumptions and estimates are made in relation to discount rates, the expected cost to dismantle and remove the charging station from the site and the expected timing of those costs. The carrying amount of the provision as at 31 December 2025 was \u20ac20.3 million (2024: \u20ac17.6 million). The Group estimates that the costs would be realised after expiration of the rental contract and calculates the provision using the DCF method based on the following assumptions:\u2022 Estimated cost of removal: \u20ac26-121 thousand depending on the size of the station\u2022 Estimated duration till expiry: 2-30 years\u2022 Inflation of 2.0% (2024: 2.0%) based on 5 year ahead\u2022 Discount rate of 3.37% (2024: 2.60%) based on the 20 year Eurozone bond If the estimated pre-tax discount rate used in the calculation had been 1% higher than management\u2019s estimate, the carrying amount of the provision would have been \u20ac1.8 million lower. If the estimated inflation had been 1% higher than management's estimate, the carrying amount of the provision would have been \u20ac2.1 million higher.Further details on the provision is disclosed in Note 22.Power Purchase Agreements \u2018Own Use\u2019 assumptionsThe Group has entered into PPAs during 2025. To assess whether the PPA classifies as \u201cOwn Use\u201d (as explained in Accounting Policies), requires judgement due to uncertainties in production and consumption values. The unpredictability of the supply and the inability to economically store the electricity at scale are unique characteristics of PPAs from intermittent energy sources. Refer to Note\u00a015.6 for further disclosure.The Group assessed the accounting treatment of the PPAs, considering the following:\u2022 Consolidation: The Group does not consolidate the renewable energy projects per IFRS 10 as it does not have the power to direct the activities of the energy suppliers, is not exposed to variable returns from the projects, and cannot use its power to affect the amount of its returns.\u00a0 \u00a0 \u2022 Lease: The Group does not consider the PPAs to be leases in terms of IFRS 16 as it was not involved in the design of the renewable energy projects, and it does not have the right to direct the use of the renewable energy projects. \u2022 Own Use: The Group applies the \u201cown use\u201d exemption under IFRS 9, as it intends to consume all the electricity produced by the renewable energy projects. This assessment requires judgement due to uncertainties in production and consumption values. The Group carefully considered the overall design and structure of the contracts, the frequency and volumetric magnitude of sales due to excess deliveries, and the risk management objective in relation to excess deliveries. The PPAs are entered into for hedging the price risk.Fastned Founders Club deferred incomeIn May 2015, Fastned launched the Fastned Founders Club. This is a special group of investors who have invested a minimum of \u20ac25,000 in the first primary issuance of shares through NPEX or a minimum of \u20ac50,000 in the primary issuance of shares through Nxchange in April - May 2016.In return, these early investors can charge for free at Fastned stations for the rest of their lives as long as they hold these Fastned certificates. The Group has recognised deferred income for the estimated kWh to be charged by these Founders. In determining the amount of the deferred income, assumptions and estimates are made in relation to the amount of kWh the Founders will charge, the discount rates, the expected cost of electricity and the expected timing of those costs. The carrying amount of deferred income as at 31 December 2025 was \u20ac175,000 (2024: \u20ac185,000). The Group estimates that the income will be realised in 16.5 years\u2019 time as the average age of the Founders is 56.5 and that 60% of the Founders have a fully electric vehicle and will charge 35% of the time at Fastned stations.Refer to Note 23 for further quantitative information.Share-based compensationWe use the fair value method of accounting for share options granted to employees to measure the cost of employee services received in exchange for the stock-based awards. Significant management judgement is applied to determine the service commencement date. There is no service commencement date recognised before the grant date as management has significant and binding discretionary rights in the execution of the option plan once the milestone is achieved. As a result, no constructive or legal obligation is present before the grant date. The option plan is recognised as point in time. The fair value of stock option awards is estimated using the Hull-White option-pricing model, see Note 24. The option-pricing model requires inputs such as the risk-free interest rate, expected term and expected volatility. These inputs are subjective and generally require significant judgment. Determination of Standalone Selling Price for Construction RevenueIn 2025 the company continued planning & construction work on sites included in the German Highway Tender contract which is treated in accordance with IFRIC 12, IFRS 9 & IFRS 15. Construction revenue is recognised at a Standalone Selling Price ('SSP') which the Group would charge for construction services. Determining the SSP for the construction service of the high-power charging (HPC) sites involves significant judgement and estimation, as Fastned does not routinely sell construction services separately. In line with IFRS 15, the expected cost plus a margin approach is used to estimate the SSP.\u00a0 This approach requires estimating the expected costs to complete the construction and adding an appropriate profit margin.\u00a0 While the expected costs are derived from the budget, determining the appropriate margin involves significant judgement.\u00a0 Factors considered include the margin that Fastned expects to receive on other services and the industry norm for construction services of similar goods.\u00a0 Management's assessment of these factors and the determination of the appropriate margin are subject to estimation uncertainty and may impact the timing and amount of revenue recognized for the construction service.Since the construction of the stations and the operating thereof is considered a single performance obligation towards the German Government, the higher of net present value of guaranteed payments from the German Government (Installation fees & Operating fees) and the SSP is used as the Transaction Price. The net present value of guaranteed future payments include estimates, such as the discount rate as well as timing of cash flows which depend on the construction timelines.The most appropriate discount rate to use (which is readily available) is the yield on German government bonds (Bundesanleihen) with a maturity profile that matches the expected timing of the cash receipts from the government. This rate best reflects the time value of money and the credit risk of the counterparty (the German government).At inception date, the 10yr German Government bond yield rate of 2.5% is utilized as the discount rate. 10 years is used, since the contract has a length of 8 years, with the option to extend by 2 years.Reference is made to Note 6, Note 15.2 and Note 17 for further disclosures affected by this estimate.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-318": { "value": "
Impairment of non-financial assets
Impairment exists when the carrying value of an asset or cash generating unit
exceeds its recoverable amount, which is the higher of its fair value less costs of
disposal and its value in use. The fair value less costs of disposal calculation is
based on available data from binding sales transactions, conducted at arm\u2019s
length for similar assets less incremental costs for disposing of the asset. The
value in use calculation is based on a DCF model. The cash flows are derived from
the budget for the next five years and do not include restructuring activities that
the Group is not yet committed to or significant future investments that will
enhance the asset\u2019s performance of the cash-generating-unit (CGU) being
tested. The recoverable amount is sensitive to the discount rate used for the DCF
model as well as the expected future cash-inflows and the growth rate used for
extrapolation purposes.
Refer to Note 12 for further disclosure of the impairment on non-financial assets.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-319": { "value": "
Impairment of financial assets
Impairment of financial assets exists when the counterparty is not able to meet its
obligations under a financial instrument or customer contract, leading to a
financial loss for the Group.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-320": { "value": "Capital management
The Group\u2019s capital management covers issued capital, share premium and all
other equity reserves attributable to the equity holders of the Group. The
objective of capital management is to realise our mission and secure financial
flexibility to maintain long-term business operations. Ensuring liquidity and
limiting financial risks are key components of our financial policy and set the
framework for capital management.
The Group manages its capital structure and makes adjustments in light of
changes in economic conditions. To maintain or adjust the capital structure, the
Group may adjust the dividend payment to shareholders, return capital to
shareholders or issue new shares or other financial instruments.
The Group\u2019s objectives when managing capital are:
\u2022 to safeguard its ability to continue as a going concern, so that it can continue
to provide returns for shareholders and benefits for other stakeholders, and
\u2022 to maintain an optimal capital structure to reduce the cost of capital.
Consistent with others in the industry, the Group monitors capital on the basis of
Net Debt/ Equity ratio. During 2025, the Group\u2019s strategy, which was unchanged
from 2024, was to maintain a gearing ratio below 7.5 for Fastned to not be
considered \u201cUndertaking in difficulty\u201d by EU rules.
The gearing ratios at 31\u00a0December 2025 and 31\u00a0December 2024 were as follows:
\u20ac\u2019000
2025
2024
Net debt
(288,040)
(146,764)
Cash and cash equivalents
69,918
117,416
Interest-bearing loans and borrowings
(295,093)
(226,460)
Lease Liabilities
(62,864)
(37,719)
Equity
(91,921)
(122,693)
Debt/ Equity ratio
3.1
1.2
Fastned B.V. has not paid any dividends since its incorporation. The Group
expects to retain all earnings, if any, generated by Fastned\u2019s operations for the
development and growth of its business and does not anticipate paying any
dividends to shareholders in the foreseeable future. Fastned is currently not
profitable. The Group\u2019s dividend policy will be reviewed and may be amended
from time to time taking into account Fastned\u2019s earnings, cash flow, financial
condition, capital expenditure requirements and other factors considered
important by the Board of Directors.
Fastned only invests in new stations when financing is in place for such an
investment. The Group has secured financing for its operations through issuance
of equity (see Note 19) and new bonds (see Note 15.3). See also the going
concern assumption under the Statement of Directors' responsibilities and
Note\u00a01.
No changes were made in the objectives, policies or processes for managing
capital during the years ended 31 December 2025 and 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-321": { "value": "
Fastned B.V. has not paid any dividends since its incorporation. The Group
expects to retain all earnings, if any, generated by Fastned\u2019s operations for the
development and growth of its business and does not anticipate paying any
dividends to shareholders in the foreseeable future. Fastned is currently not
profitable. The Group\u2019s dividend policy will be reviewed and may be amended
from time to time taking into account Fastned\u2019s earnings, cash flow, financial
condition, capital expenditure requirements and other factors considered
important by the Board of Directors.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-322": { "value": "Group information
The consolidated financial statements of the Group include entities directly or indirectly owned by Fastned B.V.:
Name
Principal activities
Country of
incorporation
% equity
% equity
2025
2024
Fastned Verwaltungsgesellschaft mbH
General partner Fastned Deutschland GmbH & Co KG
Germany
100
100
Fastned Deutschland GmbH & Co KG
Construction and operating charging stations
Germany
100
100
Fastned UK Ltd
Construction and operating charging stations
United Kingdom
100
100
Fastned Stations Belgium B.V. (previously
known as Fastned Belgie B.V.)
Construction of charging stations and shops
Belgium
100
100
Fastned France SAS
Construction and operating charging stations
France
100
100
Fastned Stations Switzerland AG (previously
known as Fastned Switzerland AG)
Construction of charging stations and shops
Switzerland
100
100
Fastned Collections B.V. (previously known
as Fastned Products B.V.)
Currently Inactive
Netherlands
100
100
Fastned Beheer B.V.
Currently Inactive
Netherlands
100
100
The Fast Charging Network B.V.
Construction and operating charging stations
Netherlands
100
100
Fastned Terra 2 B.V.
Commercial operation of chargers at charging stations
Netherlands
\u2014
100
Fastned Italia SRL
Construction and operating charging stations
Italy
100
100
Fastned France SPV 1
Construction and operating charging stations
France
100
100
Fastned Espa\u00f1a SL
Construction and operating charging stations
Spain
100
100
Fastned Denmark ApS
Construction and operating charging stations
Denmark
100
100
Fastned Terra 1 B.V.
Commercial operation of chargers at charging stations
Netherlands
\u2014
91
Fastned Austria GmbH
Construction and operating charging stations
Austria
100
100
Fastned Sp Z o.o
Construction and operating charging stations
Poland
100
\u2014
Fastned Belgium B.V.
Operating of charging stations
Belgium
100
\u2014
Fastned Switzerland AG
Operating of charging stations
Switzerland
100
\u2014
Fastned TICO Holding I B.V.
Holding activities
Netherlands
100
\u2014
Fastned is a partner in the following Associates & Joint Ventures:
% Equity
%\u00a0 Equity
Name
Country
2025
2024
Fast Places Limited
United Kingdom
51.0
51.0
In the Netherlands, the liquidation of Fastned Terra 1 B.V. and Fastned Terra 2 B.V.
was completed on 19 May 2025, and both entities ceased to exist as of that date.
On 14 August 2025, Fastned Product B.V. was renamed Fastned Collections B.V.
Lastly, a new holding entity, Fastned Tico Holding 1 B.V., was established on 1
September 2025.
In Poland, the Group acquired a new off-the-shelf company, Fastned Sp. z o.o.,
on 23 July 2025. The acquisition does not meet the definition of a business under
IFRS 3. It is therefore accounted for as an asset acquisition / legal entity set\u2011up,
not as a business combination.
In Belgium, Fastned Belgi\u00eb B.V. was demerged by notarial deed executed on 29
December 2025, with the demerger having effect for accounting and tax
purposes as of 31 October 2025. Following the demerger, Fastned Belgi\u00eb B.V.
was renamed to Fastned Stations Belgium B.V. as of 29 December 2025.
A new entity, Fastned Belgium B.V., was incorporated on 3 October 2025 under
the name Fastned Belgium Operations B.V. and was subsequently renamed to
Fastned Belgium B.V. on 29 December 2025.
In Switzerland, Fastned Switzerland AG was partially demerged by way of a bulk
transfer of assets under an Asset Transfer Agreement signed on 10 November
2025 and published in the Swiss Official Gazette of Commerce on 19 November
2025, with effect for accounting and tax purposes as of 30 June 2025. Fastned
Switzerland AG was subsequently renamed Fastned Stations Switzerland AG, as
published in the Swiss Official Gazette of Commerce on 9 December 2025. A
new Swiss subsidiary, Fastned Switzerland Operations AG, was incorporated by
notarial deed dated 30 October 2025 and published in the Swiss Official Gazette
of Commerce on 7 November 2025, and was later renamed to Fastned
Switzerland AG on 19 December 2025, as published in the Swiss Official Gazette
of Commerce.
Shares in Fastned B.V. are held by FAST (Fastned Administratie Stichting),
Amsterdam. The board of directors of Fastned B.V. consists of Michiel Langezaal,
Victor van Dijk, and Fran\u00e7oise Poggi. The supervisory board of Fastned B.V.
consists of Liselotte Kooi (chair), Bart Lubbers, J\u00e9r\u00f4me Janssen and Nancy Kabalt.
On 5 December 2024, Fastned UK Limited entered into a Joint Venture
Agreement with Places for London, Transport for London's transport property
company, to develop and operate ultra-rapid electric vehicle (EV) charging hubs
across London. The joint venture is structured as a separate entity, Fast Places
limited, in which Fastned UK and Places for London each hold an equity stake.
Fastned UK and Places for London will jointly invest in developing ultra-rapid
charging hubs at an initial five sites in London, with plans to expand the network to
25 sites by the end of the decade. Fastned UK will provide operational services,
such as accounting, planning, design, and operations, to Fast Places Limited on a
reimbursable basis.
The investment in Fast Places is recognized as a joint venture under IFRS 11 and will
be accounted for using the equity method in Fastned UK's financial statements.
The ultimate parent company, Fastned B.V., indirectly holds a 51% interest in Fast
Places through its ownership of Fastned UK Limited.
Although the % equity stake of Fastned UK is more than 50%, Fast Places is not
consolidated. The Group performed an assessment, concluding that due to the
structure of the Shared Power and limitation of Fastned's ability to use its rights
to direct the relevant activities of Fast Places, it classifies as a Joint Arrangement.
Furthermore, the arrangement\u00a0 meets the criteria for a Joint Venture due to the
following factors:
\u2022 Board Composition and Decision-Making: The Fast Places Limited board
comprises an equal number of directors, appointed by each shareholder,
requiring joint approval for all key decisions. \u00a0
\u2022 Significant decisions, such as business plan changes and new site acquisitions,
require unanimous shareholder approval. A clear deadlock resolution process
ensures neither party can enforce decisions unilaterally. \u00a0 \u00a0
\u2022 Contractual Agreements: The contractual agreements reinforce the joint
control framework. \u00a0
\u2022 Rights to Net Assets: The legal structure of the arrangement provides both
parties with rights to the net assets of the joint venture
The joint venture agreement includes provisions for the equalisation of guarantee
liabilities between the parties, ensuring that any costs incurred under the
guarantees are shared proportionally. The agreement also outlines potential
future capital commitments, subject to certain conditions, for the further
expansion of the charging hub network.\u00a0 No significant restrictions on the ability
of a joint venture to transfer funds in the form of cash dividends are present in this
arrangement. Refer to Note 14 for investments made to Fast Places Limited.
Furthermore, for any cash distributions in the form of dividends, both parties to
the JV have to agree\u00a0 via Board resolution before distribution can occur.
Own holding as % of total
outstanding certificates of shares
2025
2024
Wilhelmina-Dok B.V. (Bart Lubbers)
36.7
36.7
Carraig Aonair Holding B.V.
(Michiel\u00a0Langezaal)
21.3
21.3
Furthermore, Bart Lubbers has a 33% share in Breesaap B.V.\u00a0 Breesaap B.V. has
5.8% of shares in Fastned B.V.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-323": { "value": "
Fastned is a partner in the following Associates & Joint Ventures:
% Equity
%\u00a0 Equity
Name
Country
2025
2024
Fast Places Limited
United Kingdom
51.0
51.0
In the Netherlands, the liquidation of Fastned Terra 1 B.V. and Fastned Terra 2 B.V.
was completed on 19 May 2025, and both entities ceased to exist as of that date.
On 14 August 2025, Fastned Product B.V. was renamed Fastned Collections B.V.
Lastly, a new holding entity, Fastned Tico Holding 1 B.V., was established on 1
September 2025.
In Poland, the Group acquired a new off-the-shelf company, Fastned Sp. z o.o.,
on 23 July 2025. The acquisition does not meet the definition of a business under
IFRS 3. It is therefore accounted for as an asset acquisition / legal entity set\u2011up,
not as a business combination.
In Belgium, Fastned Belgi\u00eb B.V. was demerged by notarial deed executed on 29
December 2025, with the demerger having effect for accounting and tax
purposes as of 31 October 2025. Following the demerger, Fastned Belgi\u00eb B.V.
was renamed to Fastned Stations Belgium B.V. as of 29 December 2025.
A new entity, Fastned Belgium B.V., was incorporated on 3 October 2025 under
the name Fastned Belgium Operations B.V. and was subsequently renamed to
Fastned Belgium B.V. on 29 December 2025.
In Switzerland, Fastned Switzerland AG was partially demerged by way of a bulk
transfer of assets under an Asset Transfer Agreement signed on 10 November
2025 and published in the Swiss Official Gazette of Commerce on 19 November
2025, with effect for accounting and tax purposes as of 30 June 2025. Fastned
Switzerland AG was subsequently renamed Fastned Stations Switzerland AG, as
published in the Swiss Official Gazette of Commerce on 9 December 2025. A
new Swiss subsidiary, Fastned Switzerland Operations AG, was incorporated by
notarial deed dated 30 October 2025 and published in the Swiss Official Gazette
of Commerce on 7 November 2025, and was later renamed to Fastned
Switzerland AG on 19 December 2025, as published in the Swiss Official Gazette
of Commerce.
Shares in Fastned B.V. are held by FAST (Fastned Administratie Stichting),
Amsterdam. The board of directors of Fastned B.V. consists of Michiel Langezaal,
Victor van Dijk, and Fran\u00e7oise Poggi. The supervisory board of Fastned B.V.
consists of Liselotte Kooi (chair), Bart Lubbers, J\u00e9r\u00f4me Janssen and Nancy Kabalt.
On 5 December 2024, Fastned UK Limited entered into a Joint Venture
Agreement with Places for London, Transport for London's transport property
company, to develop and operate ultra-rapid electric vehicle (EV) charging hubs
across London. The joint venture is structured as a separate entity, Fast Places
limited, in which Fastned UK and Places for London each hold an equity stake.
Fastned UK and Places for London will jointly invest in developing ultra-rapid
charging hubs at an initial five sites in London, with plans to expand the network to
25 sites by the end of the decade. Fastned UK will provide operational services,
such as accounting, planning, design, and operations, to Fast Places Limited on a
reimbursable basis.
The investment in Fast Places is recognized as a joint venture under IFRS 11 and will
be accounted for using the equity method in Fastned UK's financial statements.
The ultimate parent company, Fastned B.V., indirectly holds a 51% interest in Fast
Places through its ownership of Fastned UK Limited.
Although the % equity stake of Fastned UK is more than 50%, Fast Places is not
consolidated. The Group performed an assessment, concluding that due to the
structure of the Shared Power and limitation of Fastned's ability to use its rights
to direct the relevant activities of Fast Places, it classifies as a Joint Arrangement.
Furthermore, the arrangement\u00a0 meets the criteria for a Joint Venture due to the
following factors:
\u2022 Board Composition and Decision-Making: The Fast Places Limited board
comprises an equal number of directors, appointed by each shareholder,
requiring joint approval for all key decisions. \u00a0
\u2022 Significant decisions, such as business plan changes and new site acquisitions,
require unanimous shareholder approval. A clear deadlock resolution process
ensures neither party can enforce decisions unilaterally. \u00a0 \u00a0
\u2022 Contractual Agreements: The contractual agreements reinforce the joint
control framework. \u00a0
\u2022 Rights to Net Assets: The legal structure of the arrangement provides both
parties with rights to the net assets of the joint venture
The joint venture agreement includes provisions for the equalisation of guarantee
liabilities between the parties, ensuring that any costs incurred under the
guarantees are shared proportionally. The agreement also outlines potential
future capital commitments, subject to certain conditions, for the further
expansion of the charging hub network.\u00a0 No significant restrictions on the ability
of a joint venture to transfer funds in the form of cash dividends are present in this
arrangement. Refer to Note 14 for investments made to Fast Places Limited.
Furthermore, for any cash distributions in the form of dividends, both parties to
the JV have to agree\u00a0 via Board resolution before distribution can occur.
Own holding as % of total
outstanding certificates of shares
2025
2024
Wilhelmina-Dok B.V. (Bart Lubbers)
36.7
36.7
Carraig Aonair Holding B.V.
(Michiel\u00a0Langezaal)
21.3
21.3
Furthermore, Bart Lubbers has a 33% share in Breesaap B.V.\u00a0 Breesaap B.V. has
5.8% of shares in Fastned B.V.
Interest in joint venture
In 2025, Fastned increased its investment in\u00a0 Fast Places Limited for cash
consideration of\u00a0 \u20ac4,579 thousand plus \u20ac44 thousand transaction costs. As a
consequence, influence over this investment did not change and remained at
51%.
The carrying amount of equity-accounted investments has changed as follows in
2025:
\u20ac\u2019000
2025
At 1 January
\u2014
Additions
4,625
Loss for the period
(223)
At 31 December
4,402
Summarised financial information in respect of The Group's material associates
and joint ventures for the year ended 31\u00a0December 2025, reflecting 100% of the
underlying entities\u2019 relevant figures, is set out below:
\u20ac\u2019000
2025
Current Assets
6,478
Fixed Assets
4,029
Total Assets
10,507
Current Liabilities
1,950
Capital and Reserves
8,557
Total Liabilities and Equity
10,507
Reconciliation of Investment in Joint Ventures:
\u20ac\u2019000
2025
Equity at 100%
8,557
Transaction costs
75
Net amount
8,631
Group share (51%)
4,402
Investment in Joint Venture (per above)
4,402
Summarised profit and loss in respect of The Group's associates and joint
ventures, reflecting 100% of the underlying entities\u2019 relevant figures for the year
ended 31 December 2025, is set out below:
\u20ac\u2019000
2025
Revenue
\u2014
Cost of Sales
\u2014
Gross Profit
\u2014
Operating loss
(429)
Net Loss for the year (100%)
(437)
Group share of loss (51%)
(223)
", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-325": { "value": "Revenue and segment information
Revenue
The Group\u2019s revenue disaggregated by type of good or service is as follows:
\u20ac\u2019000
Timing of revenue recognition
2025
2024
restated
Revenues related to charging:
Sales of electricity
Goods transferred at a point in time
109,226
79,395
Sales of renewable\u00a0 energy units
Goods transferred at a point in time
13,194
3,882
Maintenance fees and other revenue
Services transferred over time
15
79
Total Other revenue
13,209
3,962
Total revenues related to charging
122,435
83,357
Station construction as part of service concessions
Goods transferred over time
16,742
423
Total revenue
139,177
83,779
During 2023, Fastned was awarded a tender by the German Federal Government
to construct and operate 34 high-power charging (HPC) fast-charging sites
across German highways. The German government owns the HPC infrastructure
during and after the contract. The arrangement is within the scope of IFRIC 12. The
consideration received from the German Government is in the form of an
installation fee and an operator fee. The fees represent the guaranteed minimum
amounts to be received by Fastned in relation to the contract, and thus meet the
definition of a financial asset per IFRIC 12 and should be recognised as such. The
guaranteed consideration received for the construction services is recognised
as revenue over time, based on the percentage of completion of construction of
these sites. Fastned is remunerated for this service over a period of 8 years.
Other operating revenues relating to charging comprise maintenance fees and
other revenue.
Disaggregation of revenue
In the following tables, revenue is disaggregated by revenue type, by\u00a0country and
based on the timing of revenue recognition:
\u20ac\u2019000
Timing of
revenue
recognition
2025
2024
restated
Type of goods and service
Sales of electricity
Goods
transferred at a
point of time
109,226
79,395
Other revenues
related to charging:
Sales of renewable energy
units
Goods
transferred at a
point of time
13,194
3,882
Maintenance fees and
other revenue
Service
transferred over
time
15
79
Other revenues:
Station construction as
part of service
concessions
Goods
transferred over
time
16,742
423
Total revenue
139,177
83,779
\u20ac\u2019000
2025
2024
restated
Geographical markets
The Netherlands
72,805
50,872
Germany
26,792
8,681
France
12,696
7,242
Belgium
16,049
9,946
UK
8,080
5,822
Other Europe
2,754
1,217
Total revenue
139,177
83,779
Entity-wide information
The Group operates in nine countries. There are no customers that account for
10% or more of revenue related to charging as at December 31, 2025 and 2024.
For the 'Other revenues', The Group is reliant on one customer, namely Die
Autobahn GmbH des Bundes. As described above, this stream consists of
revenue from station construction as part of service concessions. This revenue is
included in the Germany operating segment only.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-324": { "value": "Revenue and segment information
Revenue
The Group\u2019s revenue disaggregated by type of good or service is as follows:
\u20ac\u2019000
Timing of revenue recognition
2025
2024
restated
Revenues related to charging:
Sales of electricity
Goods transferred at a point in time
109,226
79,395
Sales of renewable\u00a0 energy units
Goods transferred at a point in time
13,194
3,882
Maintenance fees and other revenue
Services transferred over time
15
79
Total Other revenue
13,209
3,962
Total revenues related to charging
122,435
83,357
Station construction as part of service concessions
Goods transferred over time
16,742
423
Total revenue
139,177
83,779
During 2023, Fastned was awarded a tender by the German Federal Government
to construct and operate 34 high-power charging (HPC) fast-charging sites
across German highways. The German government owns the HPC infrastructure
during and after the contract. The arrangement is within the scope of IFRIC 12. The
consideration received from the German Government is in the form of an
installation fee and an operator fee. The fees represent the guaranteed minimum
amounts to be received by Fastned in relation to the contract, and thus meet the
definition of a financial asset per IFRIC 12 and should be recognised as such. The
guaranteed consideration received for the construction services is recognised
as revenue over time, based on the percentage of completion of construction of
these sites. Fastned is remunerated for this service over a period of 8 years.
Other operating revenues relating to charging comprise maintenance fees and
other revenue.
Contract assets
\u20ac\u2019000
31 December
2025
31 December
2024
Contract assets
Opening balance
433
\u2014
Progress on construction contracts
16,345
433
Finalised construction
(10,749)
\u2014
Contract assets, gross
6,028
433
Allowance for expected credit losses
\u2014
\u2014
Contract assets
6,028
433
Current contract assets
6,028
433
Non-current contract assets
\u2014
\u2014
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-326": { "value": "
During 2023, Fastned was awarded a tender by the German Federal Government
to construct and operate 34 high-power charging (HPC) fast-charging sites
across German highways. The German government owns the HPC infrastructure
during and after the contract. The arrangement is within the scope of IFRIC 12. The
consideration received from the German Government is in the form of an
installation fee and an operator fee. The fees represent the guaranteed minimum
amounts to be received by Fastned in relation to the contract, and thus meet the
definition of a financial asset per IFRIC 12 and should be recognised as such. The
guaranteed consideration received for the construction services is recognised
as revenue over time, based on the percentage of completion of construction of
these sites. Fastned is remunerated for this service over a period of 8 years.
", "dimensions": { "concept": "ifrs-full:DisclosureOfServiceConcessionArrangementsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-328": { "value": "
Segmental reporting
The chief operating decision-maker ('CODM'), who is responsible for allocating
resources and assessing the performance of the operating segments, has been
identified as the Company\u2019s CEO, CFO and COO. The CODM examines the
Group\u2019s performance on a geographical basis with six operating segments
identified, being the Netherlands, Germany, United Kingdom, Belgium, France
and Other Europe. Other Europe consists of Switzerland, Italy, Spain and
Denmark.
The business activity of the six operating segments is location acquisition and
efficient construction and operation of Fastned charging stations. Revenues are
earned from sale of electricity to EV drivers, plus other revenues from sales of
renewable energy units and maintenance fees. The activities in each of the
operating segments are similar in nature in terms of service offered, and they
operate under the same EU regulatory environment (although not a EU member,
the regulatory environment in CH & UK is broadly similar to that of EU countries).
The EV charging market is not sufficiently developed for long term margins in
each of the countries to be known with any certainty, however currently Fastned
management expects the same trends and growth patterns to develop in each
country even though each is at a different stage in terms of EV adoption. Given
the limited size of the operating segments in Switzerland, Italy, Spain, Austria and
Denmark these have been presented together as one reportable segment (Other
Europe).
Non-current liabilities as well as Interest income and finance cost are not
allocated to segments, as this type of activity is centrally managed and
monitored, and the Country Directors are not responsible for the management of
the liabilities and assets.
Sales between segments are made at prices that approximate market prices, and
not significant. Sales to external customers are based on the location of the
Group subsidiary where the sale is made.
\"\"
The CODM of Fastned primarily uses EBITDA 13 as an alternative performance
measure to monitor operating segment results and performance. Total\u00a0revenues,
EBITDA per reporting segment and segment assets are as follows:
\u20ac\u2019000
2025
NL
DE
UK
BE
FR
Other Europe
Total Group
Segment revenues
72,805
10,050
8,080
16,049
12,696
2,754
122,435
Other reconciling items - station construction
as part of service concessions
\u2014
16,742
\u2014
\u2014
\u2014
\u2014
16,742
Total revenue
72,805
26,792
8,080
16,049
12,696
2,754
139,177
EBITDA
17,501
3,885
(2,784)
1,811
(988)
(4,624)
14,801
Reconciliation of EBITDA to profit/(loss)
before tax
EBITDA
17,501
3,885
(2,784)
1,811
(988)
(4,624)
14,801
Share of p/l of JV (equity accounted)
(223)
(223)
Depreciation and amortization
(12,972)
(2,844)
(2,549)
(3,357)
(4,871)
(1,805)
(28,398)
Finance costs
(18,399)
Finance income
1,997
Profit/(loss) before taxation
(30,222)
Segment assets
Non-current assets 14
106,567
41,478
54,842
60,077
64,819
41,164
368,947
Non-current liabilities
361,423
\"\"
\u20ac\u2019000
2024
restated
NL
DE
UK
BE
FR
Other Europe
Total Group
Segment revenues
50,872
8,258
5,822
9,946
7,242
1,217
83,356
Other reconciling items - station construction
as part of service concessions
\u2014
423
\u2014
\u2014
\u2014
\u2014
423
Total revenue
50,872
8,681
5,822
9,946
7,242
1,217
83,779
EBITDA
12,282
(1,121)
(2,804)
1,630
(111)
(2,512)
7,364
Reconciliation of EBITDA to profit/(loss)
before tax
EBITDA
12,282
(1,121)
(2,804)
1,630
(111)
(2,512)
7,364
Depreciation and amortization
(13,270)
(2,483)
(1,480)
(2,073)
(3,224)
(899)
(23,429)
Finance costs
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
(15,042)
Finance income
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4,107
Profit/(loss) before taxation
(27,000)
Segment assets
Non-current assets 15
100,753
32,770
38,205
36,900
50,132
16,425
275,185
Non-current liabilities
256,751
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-327": { "value": "
Segmental reporting
The chief operating decision-maker ('CODM'), who is responsible for allocating
resources and assessing the performance of the operating segments, has been
identified as the Company\u2019s CEO, CFO and COO. The CODM examines the
Group\u2019s performance on a geographical basis with six operating segments
identified, being the Netherlands, Germany, United Kingdom, Belgium, France
and Other Europe. Other Europe consists of Switzerland, Italy, Spain and
Denmark.
The business activity of the six operating segments is location acquisition and
efficient construction and operation of Fastned charging stations. Revenues are
earned from sale of electricity to EV drivers, plus other revenues from sales of
renewable energy units and maintenance fees. The activities in each of the
operating segments are similar in nature in terms of service offered, and they
operate under the same EU regulatory environment (although not a EU member,
the regulatory environment in CH & UK is broadly similar to that of EU countries).
The EV charging market is not sufficiently developed for long term margins in
each of the countries to be known with any certainty, however currently Fastned
management expects the same trends and growth patterns to develop in each
country even though each is at a different stage in terms of EV adoption. Given
the limited size of the operating segments in Switzerland, Italy, Spain, Austria and
Denmark these have been presented together as one reportable segment (Other
Europe).
Non-current liabilities as well as Interest income and finance cost are not
allocated to segments, as this type of activity is centrally managed and
monitored, and the Country Directors are not responsible for the management of
the liabilities and assets.
Sales between segments are made at prices that approximate market prices, and
not significant. Sales to external customers are based on the location of the
Group subsidiary where the sale is made.
\"\"
The CODM of Fastned primarily uses EBITDA 13 as an alternative performance
measure to monitor operating segment results and performance. Total\u00a0revenues,
EBITDA per reporting segment and segment assets are as follows:
\u20ac\u2019000
2025
NL
DE
UK
BE
FR
Other Europe
Total Group
Segment revenues
72,805
10,050
8,080
16,049
12,696
2,754
122,435
Other reconciling items - station construction
as part of service concessions
\u2014
16,742
\u2014
\u2014
\u2014
\u2014
16,742
Total revenue
72,805
26,792
8,080
16,049
12,696
2,754
139,177
EBITDA
17,501
3,885
(2,784)
1,811
(988)
(4,624)
14,801
Reconciliation of EBITDA to profit/(loss)
before tax
EBITDA
17,501
3,885
(2,784)
1,811
(988)
(4,624)
14,801
Share of p/l of JV (equity accounted)
(223)
(223)
Depreciation and amortization
(12,972)
(2,844)
(2,549)
(3,357)
(4,871)
(1,805)
(28,398)
Finance costs
(18,399)
Finance income
1,997
Profit/(loss) before taxation
(30,222)
Segment assets
Non-current assets 14
106,567
41,478
54,842
60,077
64,819
41,164
368,947
Non-current liabilities
361,423
\"\"
\u20ac\u2019000
2024
restated
NL
DE
UK
BE
FR
Other Europe
Total Group
Segment revenues
50,872
8,258
5,822
9,946
7,242
1,217
83,356
Other reconciling items - station construction
as part of service concessions
\u2014
423
\u2014
\u2014
\u2014
\u2014
423
Total revenue
50,872
8,681
5,822
9,946
7,242
1,217
83,779
EBITDA
12,282
(1,121)
(2,804)
1,630
(111)
(2,512)
7,364
Reconciliation of EBITDA to profit/(loss)
before tax
EBITDA
12,282
(1,121)
(2,804)
1,630
(111)
(2,512)
7,364
Depreciation and amortization
(13,270)
(2,483)
(1,480)
(2,073)
(3,224)
(899)
(23,429)
Finance costs
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
(15,042)
Finance income
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
4,107
Profit/(loss) before taxation
(27,000)
Segment assets
Non-current assets 15
100,753
32,770
38,205
36,900
50,132
16,425
275,185
Non-current liabilities
256,751
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-329": { "value": "361423000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-330": { "value": "256751000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-331": { "value": "Contract assets
\u20ac\u2019000
31 December
2025
31 December
2024
Contract assets
Opening balance
433
\u2014
Progress on construction contracts
16,345
433
Finalised construction
(10,749)
\u2014
Contract assets, gross
6,028
433
Allowance for expected credit losses
\u2014
\u2014
Contract assets
6,028
433
Current contract assets
6,028
433
Non-current contract assets
\u2014
\u2014
Financial assets and financial
liabilities
Categories of financial assets and financial
liabilities
All financial assets and liabilities are reported at amortised cost. This is
unchanged from 2024.
Financial assets: interest-bearing loans and
borrowings
\u20ac\u2019000
2025
2024
Non-current interest-bearing
Pledged assets
\u2014
700
Lease Receivable
1,824
1,790
Other non-current financial assets
8,287
\u2014
Total financial assets
10,111
2,490
Impairment loss on financial assets
\u2014
\u2014
Total financial assets, net
10,111
2,490
Current financial assets
164
150
Non-current financial assets
9,948
2,340
Pledged assets
The Group has no restricted cash related to construction and operating
guarantees provided in relation to French stations ( 2024: \u20ac0.7 million).\u00a0 During
2025, the related restricted cash of \u20ac0.7 million was returned to the Group\u2019s
bank account.
Other non-current financial assets
Other non-current financial assets includes Long term deposits \u20ac1.8 million
(2024: nil) and amounts receivable from the German Highway authorities of \u20ac6.1
million (2024: nil) relating to the amount that is reclassified from contract asset, as
explained in Note 2.2 under 'Contract assets'.
Lease receivable
Fastned is the lessor in a finance lease of a commercial unit at one station
location, which is leased to a third party to operate a shop. Under this
arrangement, Fastned retains ownership of the underlying asset as part of its
station infrastructure. The risks associated with the rights retained in the
underlying asset relate primarily to credit risk on lease receivables and the risk of
vacancy or reduced demand for the commercial space. These risks are managed
through standard tenant selection procedures, contract terms that provide
remedies in the event of non\u2011performance, and ongoing monitoring of the
counterparty and station performance. The lease does not include buy\u2011back
agreements, residual value guarantees or variable lease payments for use in
excess of specified limits. The lease is denominated in euro, so Fastned is not
exposed to foreign currency risk arising from this arrangement. The impact of the
lease on profit or loss\u00a0 for the year 2025 is minimal.
Amounts receivable under finance lease:
\u20ac\u2019000
2025
2024
Year 1
164
148
Year 2
164
148
Year 3
165
148
Undiscounted lease payments
1,850
1,800
Unearned finance income
26
13
Present value of lease payments
receivable,net
1,824
1,787
Receivable payments
\u2014
3
Lease receivable
1,824
1,790
Financial liabilities: Interest-bearing loans
and borrowings
Interest-bearing loans
and borrowings
Interest
rate (%)
Maturity
2025
2024
%
\u20ac\u2019000
\u20ac\u2019000
Unsecured bonds
6.0
28/07/25
\u2014
9,165
6.0
19/11/25
\u2014
12,654
5.0
12/12/26
11,981
30,357
5.0
21/06/27
7,262
13,248
5.5
12/06/28
24,413
24,413
6.0
16/10/28
34,537
34,537
6.0
19/02/29
27,892
27,892
6.0
21/06/29
33,067
33,068
6.0
30/10/29
22,135
22,136
6.0
19/02/30
36,528
\u2014
6.0
21/06/30
34,770
\u2014
6.0
30/10/30
39,098
\u2014
4% secured loan
4.0
01/12/31
2,138
2,241
4.0
01/12/32
12,591
12,139
German Regional Tender loan
01/12/31
8,681
4,610
Total interest-bearing
loans and borrowings
295,093
226,460
Unsecured bonds
In February 2025, Fastned raised \u20ac20.4 million through issue of corporate bonds,
and in addition, investors extended \u20ac16.1 million from earlier bonds issues.
Interest on this bond is 6% per annum, payable quarterly in arrears. In June 2025,
Fastned raised an additional \u20ac28.8 million of corporate bonds and \u20ac5.9 million of
extensions from earlier bonds issues. Interest on this bond is 6% per annum,
payable in quarterly arrears. In October 2025, Fastned raised an additional \u20ac29.5
million of corporate bonds and \u20ac9.5 million of extensions from earlier bonds
issues. Interest on this bond is 6% per annum, payable in quarterly arrears
The bonds mature after 5 years. The purpose of the bond is to finance new
stations and operating expenses. There are no securities for the bonds and there
are no covenants applicable that could require Fastned to repay any of the loans.
The bonds are not subordinated and trading is very limited as they are not
registered on any exchange.
Secured loan
Fastned secured a loan with Caisse des D\u00e9p\u00f4ts during 2022\u20132024 under which
no additional amounts were drawn in 2025 (2024: \u20ac9.8 million). Interest is a fixed
component in the first three years and will be accrued. In 2025, \u20ac0.45 million in
interest was accrued (2024: \u20ac0.45 million).\u00a0 In 2025, variable interest of \u20ac0.06
million based on kWh sold was recognised and paid.
German Government Grant
In 2025 Fastned received grants from the German government
(Bundesministerium f\u00fcr Verkehr) which are recognized initially at nominal value
until the station is opened, thereafter at the net present value of the future
estimated cash outflows, discounted at the Company\u2019s cost of debt, in
accordance with IAS 20 and IFRS 9. The grant is treated as an interest-free loan
and treated as a financial liability, which is unwound over the term of the
agreement.
The expected cash outflows are structured through a remuneration sharing
arrangement, based on a fixed rate per kWh sold per site each quarter.
Calculating the net present value of these payments includes judgement and is
based on the estimated kWh sold until the end of the contract individually per
site. The portion of the loan which is not expected to be reimbursed through the
remuneration sharing arrangement, is classified as a forgivable loan and is
recognised as Property, Plant & Equipment, as included in Note 12.
Included in the balance of the Regional Tender loan is an amount of \u20ac 4.5 million
which has been granted to Fastned for which the cash has not yet been received,
and therefore shown as a negative movement in the Statement of Cash Flows in
the 'Movement in trade receivables related to financing activities' line.
Reconciliation of liabilities arising from
financing activities
2025
Maturing
01-Jan 2025
Interest p/l
charge
Cash flows
Non-cash
changes
31-Dec 2025
\u20ac\u2019000
Loan issue /
repayment
Interest paid /
received
Accrual
Extensions
Non-current liabilities : interest
bearing loans and borrowings
6% corporate bond
28/07/25
9,165
261
(6,878)
(357)
96
(2,287)
\u2014
6% corporate bond
19/11/25
12,654
506
(7,633)
(589)
87
(5,023)
\u2014
5% corporate bond
12/12/26
30,357
733
\u2014
(781)
48
(18,376)
11,981
5% corporate bond
21/06/27
13,248
579
\u2014
(588)
8
(5,986)
7,262
5.5% corporate bond
12/06/28
24,413
1,343
\u2014
(1,343)
\u2014
\u2014
24,413
6% corporate bond
16/10/28
34,537
2,072
\u2014
(2,072)
\u2014
\u2014
34,537
5.5% corporate bond
19/02/29
27,892
1,674
\u2014
(1,674)
\u2014
\u2014
27,892
6% corporate bond
21/06/29
33,068
1,983
\u2014
(1,984)
\u2014
\u2014
33,067
6% corporate bond
30/10/29
22,136
1,425
\u2014
(1,426)
\u2014
\u2014
22,135
6% corporate bond
19/02/30
\u2014
2,171
20,369
(1,919)
(252)
16,159
36,528
6% corporate bond
21/06/30
\u2014
1,223
28,774
(1,166)
(57)
5,996
34,770
6% corporate bond
30/10/30
\u2014
583
29,581
\u2014
(583)
9,517
39,098
4% secured loan
01/12/31
2,241
62
(100)
(59)
(6)
\u2014
2,138
4% secured loan
01/12/32
12,139
498
\u2014
\u2014
(46)
\u2014
12,591
German Regional Tender loan
01/12/31
4,610
19
6,418
\u2014
(2,367)
\u2014
8,681
226,460
15,132
70,531
(13,958)
(3,071)
\u2014
295,093
2024
Maturing
01-Jan 2024
Interest p/l
charge
Cash flows
Non-cash
changes
31-Dec 2024
\u20ac\u2019000
Loan issue /
repayment
Interest paid /
received
Accrual
Extensions
Non-current liabilities : interest
bearing loans and borrowings
6% corporate bond
21/03/24
7,304
86
(6,563)
(98)
12
(741)
\u2014
6% corporate bond
12/12/24
9,659
408
(5,204)
(438)
30
(4,455)
\u2014
6% corporate bond
28/07/25
16,206
702
\u2014
(776)
74
(7,041)
9,165
6% corporate bond
19/11/25
21,194
989
\u2014
(1,048)
59
(8,538)
12,654
5% corporate bond
12/12/26
30,357
1,517
\u2014
(1,517)
\u2014
\u2014
30,357
5% corporate bond
21/06/27
13,248
662
\u2014
(662)
\u2014
\u2014
13,248
5.5% corporate bond
12/06/28
24,413
1,342
\u2014
(1,342)
\u2014
\u2014
24,413
6% corporate bond
16/10/28
34,537
2,072
\u2014
(2,072)
\u2014
\u2014
34,537
6% corporate bond
19/02/29
\u2014
1,447
27,892
(1,255)
(192)
27,892
6% corporate bond
21/06/29
\u2014
1,047
33,067
(992)
(54)
33,068
6% corporate bond
30/10/29
\u2014
226
22,135
(225)
22,136
4% secured loan
01/12/31
2,160
\u2014
81
\u2014
\u2014
\u2014
2,241
4% secured loan
01/12/32
1,921
\u2014
10,218
\u2014
\u2014
\u2014
12,139
German Regional Tender loan
01/12/31
\u2014
4
4,605
\u2014
1
\u2014
4,610
160,999
10,502
86,231
(10,200)
(295)
(20,775)
226,460
Fair values
Set out below is a comparison, by class, of the carrying amounts and fair value of
financial instruments, other than those with carrying amounts that are reasonable
approximations of fair values:
Carrying amount
Fair value measurement
using significant
unobservable inputs
\u20ac\u2019000
2025
2024
2025
2024
Financial assets
Lease receivables
1,824
1,790
1,824
1,790
Pledged assets
\u2014
700
\u2014
700
Total
1,824
2,490
1,824
2,490
Financial liabilities
Interest-bearing loans and
borrowings
295,093
226,460
295,093
226,460
Total
295,093
226,460
295,093
226,460
Management assessed that cash and cash equivalents, trade and other
receivables, trade and other payables, and other current liabilities approximate to
their carrying amounts largely due to the short-term maturities of these
instruments.
Fair value hierarchy and valuation techniques
This section explains the judgements and estimates made in determining the fair
values of the financial instruments that are recognised and measured at fair value
in the financial statements. To provide an indication about the reliability of the
inputs used in determining fair value, the group has classified its financial
instruments into the three levels prescribed under the accounting standards. An
explanation of each level follows underneath the table.
At 31 December 2025
Level 1
Level 2
Level 3
Total
\u20ac\u2019000
Financial assets
Lease receivables
\u2014
\u2014
1,824
1,824
Total financial assets
\u2014
\u2014
1,824
1,824
Financial liabilities
Interest-bearing loans and
borrowings
\u2014
295,093
\u2014
295,093
Total financial
liabilities
\u2014
295,093
\u2014
295,093
At 31 December 2024
Level 1
Level 2
Level 3
Total
\u20ac\u2019000
Financial assets
Lease receivables
\u2014
\u2014
1,790
1,790
Pledge assets
\u2014
\u2014
700
700
Total financial assets
\u2014
\u2014
2,490
2,490
Financial liabilities
Interest-bearing loans and
borrowings
\u2014
226,460
\u2014
226,460
Total financial
liabilities
\u2014
226,460
\u2014
226,460
The Group\u2019s policy is to recognise transfers into and out of fair value hierarchy
levels as at the end of the reporting period.
Level 1: The fair value of financial instruments traded in active markets is based on
quoted market prices at the end of the reporting period. The quoted market price
used for financial assets held by the Group is the current bid price. These
instruments are included in level 1.
Level 2: The fair value of financial instruments that are not traded in an active
market is determined using valuation techniques that maximise the use of
observable market data and rely as little as possible on entity-specific estimates.
If all significant inputs required to fair value an instrument are observable, the
instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market
data, the instrument is included in level 3.
The Group used discount rate implicit in the rent agreement as level 3 inputs to
determine lease receivables balance.\u00a0
The fair value of the interest-bearing loans and borrowings is included at the
amount at which the instrument could be exchanged in a current transaction
between willing parties, other than in a forced or liquidation sale. The following
methods and assumptions were used to estimate the fair values:
\u2022 Long-term fixed-rate borrowings are evaluated by the Group based on
parameters such as interest rates and the risk characteristics of the financed
project.
\u2022 The fair value of the interest-bearing loans and borrowings is estimated by
discounting future cash flows using rates currently available for debt on similar
terms, credit risk and remaining maturities, being sensitive to a reasonably
possible change in the forecast cash flows or the discount rate.
Management regularly assesses a range of reasonably possible alternatives for
those significant unobservable inputs and determines their impact on the total
fair value. Based on assessments performed, it is anticipated that the fair value of
unsecured bonds is not materially different from the amortised value.
Financial risk management objectives and
policies
The Group\u2019s principal financial instruments comprise loans and borrowings, trade
and other payables. The main purpose of these financial liabilities is to finance the
Group\u2019s operations. The Group\u2019s principal financial instruments include trade and
other receivables and cash and cash equivalents that derive directly from its
operations.
The Group is exposed to interest risk, commodity price risk, credit risk, currency
risk and liquidity risk. The Group\u2019s senior management oversees the management
of these risks.
It is the Group\u2019s policy that no trading in derivatives for speculative purposes may
be undertaken. The Board of Directors reviews and agrees policies for managing
each of these risks, which are summarised below.
(1) Market risk
Market risk is the risk that the fair vaIue of future cash flows of financial instrument
wilI fluctuate because of changes in market prices. Market prices comprise two
types of risk: interest rate risk and commodity price risk.
(a) Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial
instrument will fluctuate because of changes in market interest rates. The
Group\u2019s exposure to the risk of changes in market interest rates is low due to the
Group\u2019s long-term debt obligations with fixed rates. The impact on the provisions
is disclosed in Note 3. Also, the Group decided to invest surplus cash in short term
deposits resulting in additional interest income. The Management Board has
decided that no further hedging is required for interest rate risk.
(b) Commodity price risk
The Group is affected by the price volatility of certain commodities. Its operating
activities require the ongoing purchase of electricity and therefore require a
continuous supply of electricity. The Group purchases majority of electricity on
the spot wholesale market. There are no financial instruments related to
commodity price risk. The Management Board has developed and enacted a risk
management strategy for commodity price risk and its mitigation. This strategy
includes the use of fixed-price Physical Power Purchase Agreements ('PPAs') for
wind and solar energy, forward contracts and fixed-price contracts to reduce
exposure to spot price fluctuations.
The Group has performed a sensitivity analysis of the effect of changes in the
price of electricity on the remaining balance that is not hedged as of 2025:
\u2022 Increase in electricity prices of 1% across all countries: \u20ac170 thousand
increase in cost of sales
\u2022 Increase in electricity prices of 5% across all countries: \u20ac847 thousand
increase in cost of sales
\u2022 Increase in electricity prices of 10% across all countries: \u20ac1.6 million increase
in cost of sales
In 2026, the Group plans to further mitigate its risk by entering into additional
long-term PPAs and increasing the hedged share of energy purchases.
Reference made to Note 25 as well.
(2) Credit risk
Credit risk is the risk that a counterparty will not meet its obligations under a
financial instrument or customer contract, leading to a financial loss. The Group is
exposed to credit risk from its operating activities (primarily trade receivables,
see Note 15) and from its financing activities, including deposits with banks and
financial institutions, (refer to Note 16) and other financial instruments. Cash and
cash equivalents are current account balances, mainly concentrated at one bank
under supervision of the Dutch Central Bank with an A or equivalent long term
rating.
(a) Trade receivables
A large portion of revenues is collected via direct debit or credit and debit cards
from private individuals. The associated credit risk is low because the risk is
spread over a large number of individual customers. Receivables from charge
card providers are invoiced monthly, and spread over a small number of charge
card providers, and monitored to ensure no build up of overdue amounts. To
further address credit risk, in 2025, the Group successfully launched real-time
payments ('RTP') in certain countries, with further roll-out scheduled in other
countries. With RTP, transactions will be authorized and settled at the moment of
charging, instead of invoiced once a month, which will mitigate credit risk
significantly.
Receivables and contract assets arising from service concession revenue
consists of amounts receivable from one counterparty only, namely Die
Autobahn GmbH des Bundes. The Group has assessed the credit quality of this
counterparty and there have been no instances of non-payment or default, with
the German Highway authorities seen as a reputable customer. Prior to entering
into the agreement, approval is given by the Management Board.
The Group applies the IFRS 9 simplified model of recognising lifetime expected
credit losses for all trade receivables as these items do not have a significant
financing component. In measuring the expected credit losses, the trade
receivables have been assessed on a collective basis as they possess shared
credit risk characteristics. They have been grouped based on the days past due.
An assessment of the expected credit losses was made based on reasonable
and supportable information. The impact on the provision was not material.
Trade receivables are written off (i.e. derecognised) when there is no reasonable
expectation of recovery. Failure to make payments within 365 days from the
invoice date and failure to engage with the Group on alternative payment
arrangements amongst others are considered indicators of no reasonable
expectation of recovery. Trade receivables are non-interest bearing and are
\"\"
generally on terms of 14 days. Fastned applies the IFRS 15 practical expedient and
therefore does not account for interest on its accounts receivables.
Refer to Note 17 for loss allowance.
(b) Financial instruments and cash deposits
Credit risk from balances with banks and financial institutions is managed in
accordance with the Group\u2019s policy. Investments of surplus funds are made only
within credit limits assigned to each counterparty. Counterparty credit limits are
reviewed by the Group\u2019s Board of Directors on an annual basis, and may be
updated throughout the year. The limits are set to minimise the concentration of
risks and therefore mitigate financial loss through a counterparty\u2019s potential
failure to make payments.
Profit or loss is sensitive to higher/lower interest income from cash and cash
equivalents as a result of changes in interest rates.
Impact on profit or loss
\u20ac\u2019000
2025
2024
Interest rates - increase by 50 basis points
466
22
Interest rates - decrease by 50 basis points
(376)
(735)
(c) Currency risk
The Group operates in the European Union, in which the Euro is the most common
currency. The Group also operates in a few countries with other currencies being
the UK, Switzerland and Denmark. These countries operate mainly locally, i.e.
local sales and local purchases. Additionally, these entities are funded with
intercompany loans from the mother entity Fastned BV. The main risk are the
unrealized gains and losses on these intercompany loans. The balance at 31
December 2025 would change with \u20ac886 thousand in case foreign currency
exchange rates change with 1% (at 31 December 2024: \u20ac621 thousand).
(d) Liquidity risk
Prudent liquidity risk management implies maintaining sufficient cash and
marketable securities and the availability of funding through an adequate amount
of committed credit facilities to meet obligations when due. The Group monitors
its risk of a shortage of funds using a liquidity planning tool. See also the going
concern statement in Note 1. At the end of the reporting period Fastned held a
significant cash surplus safeguarding against liquidity risk.
The Group\u2019s objective is to realise its mission and therefore during the scale up
phase continuity of funding is required, while maintaining a balance between
debt and equity. The Group manages the liquidity risk by regularly issuing new
equity and through entering long-term debt agreements to ensure sufficient
liquidity and to repay debts as they fall due. Lastly, the Group is able to adjust the
building pace and reduce network expansion costs 16 in line with the available
liquidity if needed.
For contractural maturity of financial liabilities refer to Note 15.3, Note 20 and
Note 21.
Contracts referencing nature-dependent electricity
The Group has elected to early adopt the amendments to IFRS 7 and IFRS 9
regarding Contracts Referencing Nature-dependent Electricity effective
1\u00a0January 2025. These physical Power Purchase Agreements (PPAs) are
accounted for as executory contracts under the \u2018own-use\u2019 exception, as they
were entered into for the Group\u2019s expected usage requirements and not for
speculative purposes.
To secure a stable supply of renewable energy and manage price risk, Fastned
enters into physical PPAs with electricity producers. As of 31 December 2025, the
portfolio includes:
\u2022 Netherlands: Three solar PPAs and one wind PPA.
\u2022 Belgium: One solar PPA.
These contracts typically follow a \"pay-as-produced\" structure, requiring the
Group to purchase and take delivery of 90\u2013100% of the electricity generated.
Consequently, the Group is exposed to variability in delivery volumes due to
uncontrollable natural conditions (weather) and the risk of receiving electricity
during intervals of low charging demand. In certain Dutch contracts, the Group
receives SDE++ subsidies and maintains curtailment rights to mitigate grid and
volume exposure.
Refer to Note 3 for further details on the own-use assessment criteria. Refer to
the 'Commitments and Contingencies' note for disclosure of information
regarding the estimated future cash flows from these unrecognised PPA
commitments, categorised into appropriate time bands.
Based on the long-term nature of a PPA, it could become an onerous contract if
power prices decrease significantly. Onerous contracts are defined as contracts
in which the unavoidable costs of meeting the obligations under the contract
exceed the economic benefits expected to be received under it. The Group
assesses the risk of these contracts becoming onerous by annually inspecting
the forecasted electricity costs, which are based on third party information.
During the year, the company made purchases\u00a0 worth \u20ac 3.2 million under these
contracts. Of these purchases, \u20ac 69.4 thousand was unused and sold on the spot
market.
The table below summarises the maturity profile of the Group\u2019s liabilities based
on contractual undiscounted payments.
\u20ac\u2019000
On
demand
Less than 3
months
3-12
months
1-5
years
Total
Year ended 31 December 2025
Interest-bearing loans and borrowings
\u2014
\u2014
12,381
282,712
295,093
Interest on interest-bearing loans and borrowings
\u2014
3,997
11,990
42,858
58,845
Lease liabilities*
\u2014
\u2014
4,694
58,170
62,865
Trade and other payables
27,027
4,318
\u2014
\u2014
31,345
Total
27,027
8,315
29,065
383,740
448,147
Year ended 31 December 2024
Interest-bearing loans and borrowings
\u2014
\u2014
21,921
204,539
226,460
Interest on interest-bearing loans and borrowings
\u2014
2,788
9,041
19,644
31,473
Lease liabilities*
\u2014
\u2014
3,358
34,361
37,719
Trade and other payables
20,723
1,249
\u2014
\u2014
21,972
Total
20,723
4,037
34,320
258,544
317,624
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-333": { "value": "Cost of sales
\u20ac\u2019000
2025
2024
restated
Cost of sales
Sales of electricity
27,646
17,848
Station construction as part of service
concessions
10,142
302
REC's granted and sold
(1,452)
(2,957)
Total cost of sales
36,336
15,193
Other income/expenses", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-332": { "value": "Cost of sales
\u20ac\u2019000
2025
2024
restated
Cost of sales
Sales of electricity
27,646
17,848
Station construction as part of service
concessions
10,142
302
REC's granted and sold
(1,452)
(2,957)
Total cost of sales
36,336
15,193
", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-336": { "value": "Other gains and losses
\u20ac\u2019000
2025
2024
Net (loss) gain on other items
(75)
87
Total other operating loss
(75)
87
The net loss during 2025 is mainly due to results of retail operations of the shops
and kiosks placed at Fastned stations. The net gain during 2024 is mainly
explained by the gain on disposal of fixed assets.
Administrative expenses
\u20ac\u2019000
2025
2024
Wages and salaries
23,592
16,285
Depreciation of property, plant and
equipment
22,368
19,416
Depreciation of right-of-use-assets
5,493
3,736
Social security costs
4,639
3,173
Pension costs
1,411
1,014
Amortization of intangible assets
537
277
Impairment
215
1,503
Other
896
713
Total administrative expenses
59,152
46,117
Wages and salaries include \u20ac4.3 million (2024: \u20ac3.5 million) of staff costs
capitalized. In 2025 , the average number of FTEs of the Group was 375 (2024 :
265). In the Netherlands, the average number of employees was 194 (2024: 150 ).
The other countries are split as follow: Belgium 29 (2024: 19), Switzerland 13
( 2024: 8), Germany 42 (2024 : 28), France 32 (2024: 25), UK 42 (2024: 24), Ireland 1\u00a0
(2024: 1), Italy 7 (2024: 3), Spain 12 (2024: 6) and Denmark 3 (2024: 1).
In 2025 an impairment loss of \u20ac0.2 million (2024: \u20ac1.5 million) related to ABB
chargers was recognized due to a review of recoverable amounts.
Pensions and other post-employment benefits
The Group operates defined contribution pension plans which require
contributions made to separately administered funds arranged for staff in the
Netherlands, Belgium, Denmark and UK. The cost of providing contributions
under the defined contribution plans is limited to the amount that the Group
agreed to contribute to the fund. Contributions are expensed as incurred and
presented in the statement of profit or loss. The assets and liabilities of such
plans are not included in the balance sheet of the Group. Total costs for these
schemes are \u20ac1.3 million (2024: \u20ac0.9 million).
Fastned does not (yet) operate a company pension plan for staff in Germany,
Switzerland, France, Spain and Italy. Pension arrangements for these staff are
made through contributions to insurance schemes and through the state
pensions funded by social security contributions. These costs are expensed as
incurred and presented in the statement of profit or loss.
Selling and distribution expenses
\u20ac\u2019000
2025
2024
Grid Fees
18,552
13,676
Maintenance costs
9,595
4,024
Other exploitation costs
3,372
2,383
Total selling and distribution
expenses
31,519
20,083
Other operating expenses
\u20ac\u2019000
2025
2024
General costs
11,910
8,892
Marketing costs
6,821
2,840
Advisory costs
4,808
5,158
Car expenses
1,145
603
Office costs
1,007
1,045
Total other operating expenses
25,692
18,539
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-335": { "value": "Other gains and losses
\u20ac\u2019000
2025
2024
Net (loss) gain on other items
(75)
87
Total other operating loss
(75)
87
The net loss during 2025 is mainly due to results of retail operations of the shops
and kiosks placed at Fastned stations. The net gain during 2024 is mainly
explained by the gain on disposal of fixed assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-334": { "value": "Other gains and losses
\u20ac\u2019000
2025
2024
Net (loss) gain on other items
(75)
87
Total other operating loss
(75)
87
The net loss during 2025 is mainly due to results of retail operations of the shops
and kiosks placed at Fastned stations. The net gain during 2024 is mainly
explained by the gain on disposal of fixed assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-339": { "value": "Administrative expenses
\u20ac\u2019000
2025
2024
Wages and salaries
23,592
16,285
Depreciation of property, plant and
equipment
22,368
19,416
Depreciation of right-of-use-assets
5,493
3,736
Social security costs
4,639
3,173
Pension costs
1,411
1,014
Amortization of intangible assets
537
277
Impairment
215
1,503
Other
896
713
Total administrative expenses
59,152
46,117
Wages and salaries include \u20ac4.3 million (2024: \u20ac3.5 million) of staff costs
capitalized. In 2025 , the average number of FTEs of the Group was 375 (2024 :
265). In the Netherlands, the average number of employees was 194 (2024: 150 ).
The other countries are split as follow: Belgium 29 (2024: 19), Switzerland 13
( 2024: 8), Germany 42 (2024 : 28), France 32 (2024: 25), UK 42 (2024: 24), Ireland 1\u00a0
(2024: 1), Italy 7 (2024: 3), Spain 12 (2024: 6) and Denmark 3 (2024: 1).
In 2025 an impairment loss of \u20ac0.2 million (2024: \u20ac1.5 million) related to ABB
chargers was recognized due to a review of recoverable amounts.
Pensions and other post-employment benefits
The Group operates defined contribution pension plans which require
contributions made to separately administered funds arranged for staff in the
Netherlands, Belgium, Denmark and UK. The cost of providing contributions
under the defined contribution plans is limited to the amount that the Group
agreed to contribute to the fund. Contributions are expensed as incurred and
presented in the statement of profit or loss. The assets and liabilities of such
plans are not included in the balance sheet of the Group. Total costs for these
schemes are \u20ac1.3 million (2024: \u20ac0.9 million).
Fastned does not (yet) operate a company pension plan for staff in Germany,
Switzerland, France, Spain and Italy. Pension arrangements for these staff are
made through contributions to insurance schemes and through the state
pensions funded by social security contributions. These costs are expensed as
incurred and presented in the statement of profit or loss.
Selling and distribution expenses
\u20ac\u2019000
2025
2024
Grid Fees
18,552
13,676
Maintenance costs
9,595
4,024
Other exploitation costs
3,372
2,383
Total selling and distribution
expenses
31,519
20,083
Other operating expenses
\u20ac\u2019000
2025
2024
General costs
11,910
8,892
Marketing costs
6,821
2,840
Advisory costs
4,808
5,158
Car expenses
1,145
603
Office costs
1,007
1,045
Total other operating expenses
25,692
18,539
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-338": { "value": "Administrative expenses
\u20ac\u2019000
2025
2024
Wages and salaries
23,592
16,285
Depreciation of property, plant and
equipment
22,368
19,416
Depreciation of right-of-use-assets
5,493
3,736
Social security costs
4,639
3,173
Pension costs
1,411
1,014
Amortization of intangible assets
537
277
Impairment
215
1,503
Other
896
713
Total administrative expenses
59,152
46,117
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-337": { "value": "Administrative expenses
\u20ac\u2019000
2025
2024
Wages and salaries
23,592
16,285
Depreciation of property, plant and
equipment
22,368
19,416
Depreciation of right-of-use-assets
5,493
3,736
Social security costs
4,639
3,173
Pension costs
1,411
1,014
Amortization of intangible assets
537
277
Impairment
215
1,503
Other
896
713
Total administrative expenses
59,152
46,117
Selling and distribution expenses
\u20ac\u2019000
2025
2024
Grid Fees
18,552
13,676
Maintenance costs
9,595
4,024
Other exploitation costs
3,372
2,383
Total selling and distribution
expenses
31,519
20,083
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-340": { "value": "
\u20ac\u2019000
2025
2024
Wages and salaries
23,592
16,285
Depreciation of property, plant and
equipment
22,368
19,416
Depreciation of right-of-use-assets
5,493
3,736
Social security costs
4,639
3,173
Pension costs
1,411
1,014
Amortization of intangible assets
537
277
Impairment
215
1,503
Other
896
713
Total administrative expenses
59,152
46,117
Wages and salaries include \u20ac4.3 million (2024: \u20ac3.5 million) of staff costs
capitalized. In 2025 , the average number of FTEs of the Group was 375 (2024 :
265). In the Netherlands, the average number of employees was 194 (2024: 150 ).
The other countries are split as follow: Belgium 29 (2024: 19), Switzerland 13
( 2024: 8), Germany 42 (2024 : 28), France 32 (2024: 25), UK 42 (2024: 24), Ireland 1\u00a0
(2024: 1), Italy 7 (2024: 3), Spain 12 (2024: 6) and Denmark 3 (2024: 1).
In 2025 an impairment loss of \u20ac0.2 million (2024: \u20ac1.5 million) related to ABB
chargers was recognized due to a review of recoverable amounts.
Pensions and other post-employment benefits
The Group operates defined contribution pension plans which require
contributions made to separately administered funds arranged for staff in the
Netherlands, Belgium, Denmark and UK. The cost of providing contributions
under the defined contribution plans is limited to the amount that the Group
agreed to contribute to the fund. Contributions are expensed as incurred and
presented in the statement of profit or loss. The assets and liabilities of such
plans are not included in the balance sheet of the Group. Total costs for these
schemes are \u20ac1.3 million (2024: \u20ac0.9 million).
Fastned does not (yet) operate a company pension plan for staff in Germany,
Switzerland, France, Spain and Italy. Pension arrangements for these staff are
made through contributions to insurance schemes and through the state
pensions funded by social security contributions. These costs are expensed as
incurred and presented in the statement of profit or loss.
Share-based payments
Movements during the year
The following table shows the number and weighted average exercise price
(WAEP) of, and movements in, employee options on certificates of shares during
the year:
2025
2024
Number
WAEP (\u20ac)
Number
WAEP (\u20ac)
Outstanding at 1 January
347,163
14.61
556,565
13.00
Granted during the year
\u2014
\u2014
\u2014
\u2014
Forfeited during the year
(8,330)
\u2014
(11,136)
\u2014
Exercised during the year
(130,264)
10.63
(189,466)
10.09
Expired during the year
(5,578)
\u2014
(8,800)
\u2014
Outstanding at 31\u00a0December
202,991
16.86
347,163
14.61
Exercisable at
31\u00a0December
198,069
17.29
342,241
14.82
Included in the table above are options granted to Victor van Dijk, director of
Fastned B.V., who held 4,543 options as at 31 December 2025 (2024: 14,105).
Of the options outstanding at 31 December 2025:
\u2022 111,483 are exercisable at prices per DR between \u20ac10-\u20ac15,
\u2022 9,843 are exercisable at prices per DR between \u20ac15-\u20ac20,
\u2022 31,424 are exercisable at prices per DR between \u20ac20-\u20ac25,
\u2022 39,829 are exercisable at prices per DR between \u20ac25-\u20ac30,
\u2022 5,490 are exercisable at prices per DR between \u20ac30-\u20ac35.
Additionally, 4,922 unvested options are outstanding at prices between
\u20ac33-\u20ac50.
Option plans
Prior to establishment of the present Option Plan on 17 May 2018 (\u201c2018 Option
Plan\u201d), Fastned B.V. had an employee option plan in place under which the
Company granted a total of 365,411 options to eligible employees (2015: 89,175,
2017: 113,345 and 2018: 162,891). As at 31 December 2025, 53,048 of these
options remained unexercised. These equity-settled options granted under the
previous Option Plan are subject to a three-year vesting period. Vested options
under the plan can be exercised during a period within five years following the
vesting date. Additionally, there is a clawback clause associated with the option
plan.
Under the 2018 Option Plan, ten milestones are defined, being a combination of
an operational goal and the market capitalisation of the Company which need to
be achieved at the same time:
\u2022 the market capitalisation has to be achieved for more than 30 consecutive
days; and
\u2022 the operational goals has to be achieved.
There are no vesting conditions. Each time a milestone is met, the Company will
allocate options for newly to be issued Depositary Receipts (\u201cDRs\u201d) to its
employees for a total of 1% of the then outstanding number of DRs. The
allocation of these options depends on the role and responsibilities of the
employee in the organisation. The allocation is also reviewed and approved by
the Management Board. The criteria for the granting of options will be
determined by the Supervisory Board if it concerns a Managing Director and by
the Management Board if it concerns other participants under the Option Plan.
The options are granted by way of an option agreement. In order to ensure that
every employee will participate in the potential value increase of the Company
for the part he or she has been contributing to, the exercise price per option was
equal to the average price of a DR on the relevant stock exchange during the 90
days before the start of the employment of the respective employee. The
determination of the exercise price has been adjusted during 2022. Employees
that are eligible for the first time (i.e. not participated in milestone 4), will have the
lower of either 1) the exercise price based on the 90 days average before the start
of the employment or 2) the exercise price based on a straight line method from
the exercise price of the last person who was eligible for options at the previous
milestone to the 90 day average of the stock price at the moment of the next
milestone. The exercise price can never be less than \u20ac10 per option. The options
under the Option Plan can be exercised within five years after the grant date.
There is no service commencement date recognised before the grant date. The
Management Board and the Supervisory Board have significant discretionary
rights in the execution of the policy. This is also explicitly incorporated in the
Fastned Option Policy. The Board can deviate from the policy on the specific
conditions, like the allocation of shares and the determination of the exercise
price. As a result, it is managements estimate that no legal or constructive
obligation is established prior to the grant date. This results in a 'point in time'
recognition at the grant date.
During the year, Fastned amended its employee option plan, resulting in changes
to both the exercise price and the contractual expiry of the options. Under the
revised plan, the exercise price of options is determined by reference to the year
in which an employee joined Fastned.
The amendment currently applies to the six performance milestones under the
option plan that had not yet been achieved at the date of modification.
Consequently, no share\u2011based payment expense had been recognised in prior
periods in respect of these milestones.
Management is still evaluating a potential retrospective adjustment of the
exercise price for outstanding options as at 31 December 2025. Such potential
retrospective change remains subject to further analysis and approval, and no
decision has been taken to date.
Milestone
Market
capitalisation (\u20ac)
Operational goal
Realised
1
> 150 million euro
> 100 stations operational
\u2611
2
> 200 million euro
> 1 million euro in revenues in
one calendar year
\u2611
3
> 300 million euro
> 250 stations operational
\u2611
4
> 400 million euro
> 150 kW charging at >50% of
our stations
\u2611
5
> 500 million euro
> Company profitable for
12\u00a0months in a row
6
> 600 million euro
> 500 stations operational
7
> 700 million euro
> 100 million euro in revenues in
one calendar year
8
> 800 million euro
> 30% EBITDA margin for
12\u00a0months in a row
9
> 900 million euro
> 300 kW charging at >50% of
our stations
10
> 1 billion euro
> 1,000 stations operational
Valuation of options
IFRS2 requires an entity to consider factors that knowledgeable, willing market
participants would consider in selecting the option pricing model to apply. For
example, many employee options have long lives, are usually exercisable during
the period between vesting date and the end of the options\u2019 life, and are often
exercised early. These factors should be considered when estimating the grant
date fair value of the options. For many entities, this might preclude the use of the
Black-Scholes-Merton formula, which does not allow for the possibility of
exercise before the end of the option\u2019s life and may not adequately reflect the
effects of expected early exercise. It also does not allow for the possibility that
expected volatility and other model inputs might vary over the option\u2019s life.
Based on expert advice from external consultants, management has valued
issued options using the Hull-White option valuation model which allows for the
fact that employees tend to exercise options during the exercise period \u2013 i.e.
after vesting, but prior to the expiration date for such options.
The cost of the options included in the income statement are as follows:
\u20ac\u2019000
2025
2024
Options granted
28
24
Capitalised part of options granted
\u2014
\u2014
Total expense included in
administrative expenses
28
24
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-341": { "value": "In 2025 , the average number of FTEs of the Group was 375 (2024 :
265). In the Netherlands, the average number of employees was 194 (2024: 150 ).
The other countries are split as follow: Belgium 29 (2024: 19), Switzerland 13
( 2024: 8), Germany 42 (2024 : 28), France 32 (2024: 25), UK 42 (2024: 24), Ireland 1\u00a0
(2024: 1), Italy 7 (2024: 3), Spain 12 (2024: 6) and Denmark 3 (2024: 1).
In 2025 an impairment loss of \u20ac0.2 million (2024: \u20ac1.5 million) related to ABB
chargers was recognized due to a review of recoverable amounts.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-342": { "value": "Other operating expenses
\u20ac\u2019000
2025
2024
General costs
11,910
8,892
Marketing costs
6,821
2,840
Advisory costs
4,808
5,158
Car expenses
1,145
603
Office costs
1,007
1,045
Total other operating expenses
25,692
18,539
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-346": { "value": "Finance costs
\u20ac\u2019000
2025
2024
Interest on debts and borrowings
13,835
11,719
Interest expense on lease liabilities
3,644
2,668
Interest and bank charges
787
583
Foreign exchange losses charged to the
income statement
133
72
Total finance costs
18,399
15,042
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-345": { "value": "Finance costs
\u20ac\u2019000
2025
2024
Interest on debts and borrowings
13,835
11,719
Interest expense on lease liabilities
3,644
2,668
Interest and bank charges
787
583
Foreign exchange losses charged to the
income statement
133
72
Total finance costs
18,399
15,042
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-344": { "value": "Finance costs
\u20ac\u2019000
2025
2024
Interest on debts and borrowings
13,835
11,719
Interest expense on lease liabilities
3,644
2,668
Interest and bank charges
787
583
Foreign exchange losses charged to the
income statement
133
72
Total finance costs
18,399
15,042
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-343": { "value": "Finance costs
\u20ac\u2019000
2025
2024
Interest on debts and borrowings
13,835
11,719
Interest expense on lease liabilities
3,644
2,668
Interest and bank charges
787
583
Foreign exchange losses charged to the
income statement
133
72
Total finance costs
18,399
15,042
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-348": { "value": "Finance income
\u20ac\u2019000
2025
2024
Interest and bank charges
1,997
4,107
Total finance income
1,997
4,107
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-347": { "value": "Finance income
\u20ac\u2019000
2025
2024
Interest and bank charges
1,997
4,107
Total finance income
1,997
4,107
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-349": { "value": "Income tax
Reconciliation of the effective tax rate:
\u20ac\u2019000
2025
2024
Profit (loss) before tax
(30,222)
(27,000)
Total income tax using applicable tax rate
(5)
\u2014
Unrecognised deferred tax assets
\u2014
Current tax payable as a result of partial
loss compensation
(5)
\u2014
Reversal prior year estimate
\u2014
359
Total tax charged to the income
statement
(5)
359
Germany is presenting an estimated taxable profit of \u20ac 1.5 million in 2025. This will
be fully offset by available tax losses.
The income tax charged to the income statement in 2024 mainly relates to the
estimated taxable profit for the Dutch fiscal unity in 2023, which was reversed
again during 2024 after the finalisation of the 2023 tax return. Temporary
differences lead to a fiscal profit. The size and timing of further future profits
remain uncertain, so if and when the Company is able to set off the taxable losses
against taxable profits in the future.
9.1 Deferred tax
The Group offsets tax assets and liabilities if and only if it has a legally enforceable
right to set off current tax assets and current tax liabilities and the deferred tax
assets and deferred tax liabilities relate to income taxes levied by the same tax
authority.
In the Netherlands as at year-end 2025, the Group has \u20ac27.7 million (2024: \u20ac23.3
million) of accumulated tax losses that are available for offsetting against future
taxable profits. New Dutch tax loss utilisation rules were substantively enacted in
2021 and result in an indefinite loss carry-forward period as of 1 January 2022.
However, losses can only be fully deducted on an annual basis up to an amount of
\u20ac1 million plus 50% of the taxable profit that exceeds \u20ac1 million.\u00a0
As of 2025, \u20ac 50.9 million of costs have been capitalised in the computation of
taxable profit in the Netherlands, and are being depreciated over 5 years. This
amount is classified as unrecognised temporary differences.
Outside the Netherlands, accumulated tax losses were approximately \u20ac5.5
million in Germany (2024 : \u20ac 5.5 million), \u20ac 38.1 million in UK (2024: \u20ac26.4 million),
\u20ac7.0 million in Belgium (2024: \u20ac5.5 million), and \u20ac15.9 million in France (2024:
\u20ac10.8 million) \u20ac7.2 million in Switzerland (2024: \u20ac4.6 million) \u20ac2.5 million in
Denmark (2024: \u20ac0.9 million) \u20ac1.7 million in Italy (2024: \u20ac0.8 million) \u20ac2.7 million
in Spain (2024: \u20ac0.4 million) \u20ac0.3 million in Austria (2024: \u20ac10k) and \u20ac4k in Poland\u00a0
(2024: nil). Tax losses in Germany, UK, Belgium, France, Austria, Spain, Denmark
and Italy may be carried forward without time limitation. Tax losses in Switzerland
may be carried forward for 7 years and in Poland for 5 years.
Due to uncertainty about size and timing of future profits, the Group has
determined that it can not recognise deferred tax assets on the tax losses carried
forward. See also Note 3.
Accumulated tax losses by country
Tax year
>2016
2016
2017
2018
2019
2020
2021
2022
2023
2024*
2025*
Total
Netherlands
\u20ac\u2019000
4,293
5,038
5,014
1,632
1,539
2,002
\u2014
484
321
2,998
4,405
27,725
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Germany
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1,256
2,743
\u2014
1,510
\u2014
5,509
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
UK
\u20ac\u2019000
\u2014
\u2014
\u2014
162
618
599
2,157
7,305
4,801
10,716
11,790
38,148
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Belgium
\u20ac\u2019000
\u2014
\u2014
\u2014
2
198
204
531
1,496
2,114
912
1,581
7,038
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
France
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
3
159
939
1,774
3,880
4,005
5,100
15,860
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Switzerland
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
257
656
552
1,059
2,101
2,600
7,225
Expiring
2,026
2,027
2,028
2,029
2030
2031
2032
Italy
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
220
577
912
1,709
Expiring
n/a
n/a
n/a
Spain
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
149
243
2,328
2,720
Expiring
n/a
n/a
n/a
Denmark
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
926
1,611
2,537
Expiring
n/a
n/a
Austria
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
10
319
329
Expiring
n/a
n/a
Total
4,293
5,038
5,014
1,796
2,358
3,221
5,539
14,354
12,544
23,998
30,650
108,804
*Estimate, not finalised
The applicable tax rate in 2025 in the Netherlands is 19% (2024: 19%) over the first
\u20ac200,000 (2024: \u20ac200.000) and 25.8% over the remainder of the profit.
Applicable tax rates outside the Netherlands are 23% - 33% in Germany
(depending on location), 25% in the UK, 25% in Belgium, 25% in France, 11% - 21%
in Switzerland (depending on location), 22% in Denmark, 24% in Italy and 25% in
Spain.
Due to the tax loss realised in 2025 and previous years for which no deferred tax
asset is recognised in the statement of financial position, the Group\u2019s effective
tax rate is nil (2024: 0%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-350": { "value": "Deferred tax
The Group offsets tax assets and liabilities if and only if it has a legally enforceable
right to set off current tax assets and current tax liabilities and the deferred tax
assets and deferred tax liabilities relate to income taxes levied by the same tax
authority.
In the Netherlands as at year-end 2025, the Group has \u20ac27.7 million (2024: \u20ac23.3
million) of accumulated tax losses that are available for offsetting against future
taxable profits. New Dutch tax loss utilisation rules were substantively enacted in
2021 and result in an indefinite loss carry-forward period as of 1 January 2022.
However, losses can only be fully deducted on an annual basis up to an amount of
\u20ac1 million plus 50% of the taxable profit that exceeds \u20ac1 million.\u00a0
As of 2025, \u20ac 50.9 million of costs have been capitalised in the computation of
taxable profit in the Netherlands, and are being depreciated over 5 years. This
amount is classified as unrecognised temporary differences.
Outside the Netherlands, accumulated tax losses were approximately \u20ac5.5
million in Germany (2024 : \u20ac 5.5 million), \u20ac 38.1 million in UK (2024: \u20ac26.4 million),
\u20ac7.0 million in Belgium (2024: \u20ac5.5 million), and \u20ac15.9 million in France (2024:
\u20ac10.8 million) \u20ac7.2 million in Switzerland (2024: \u20ac4.6 million) \u20ac2.5 million in
Denmark (2024: \u20ac0.9 million) \u20ac1.7 million in Italy (2024: \u20ac0.8 million) \u20ac2.7 million
in Spain (2024: \u20ac0.4 million) \u20ac0.3 million in Austria (2024: \u20ac10k) and \u20ac4k in Poland\u00a0
(2024: nil). Tax losses in Germany, UK, Belgium, France, Austria, Spain, Denmark
and Italy may be carried forward without time limitation. Tax losses in Switzerland
may be carried forward for 7 years and in Poland for 5 years.
Due to uncertainty about size and timing of future profits, the Group has
determined that it can not recognise deferred tax assets on the tax losses carried
forward. See also Note 3.
Accumulated tax losses by country
Tax year
>2016
2016
2017
2018
2019
2020
2021
2022
2023
2024*
2025*
Total
Netherlands
\u20ac\u2019000
4,293
5,038
5,014
1,632
1,539
2,002
\u2014
484
321
2,998
4,405
27,725
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Germany
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
1,256
2,743
\u2014
1,510
\u2014
5,509
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
UK
\u20ac\u2019000
\u2014
\u2014
\u2014
162
618
599
2,157
7,305
4,801
10,716
11,790
38,148
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Belgium
\u20ac\u2019000
\u2014
\u2014
\u2014
2
198
204
531
1,496
2,114
912
1,581
7,038
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
France
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
3
159
939
1,774
3,880
4,005
5,100
15,860
Expiring
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Switzerland
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
257
656
552
1,059
2,101
2,600
7,225
Expiring
2,026
2,027
2,028
2,029
2030
2031
2032
Italy
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
220
577
912
1,709
Expiring
n/a
n/a
n/a
Spain
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
149
243
2,328
2,720
Expiring
n/a
n/a
n/a
Denmark
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
926
1,611
2,537
Expiring
n/a
n/a
Austria
\u20ac\u2019000
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
\u2014
10
319
329
Expiring
n/a
n/a
Total
4,293
5,038
5,014
1,796
2,358
3,221
5,539
14,354
12,544
23,998
30,650
108,804
*Estimate, not finalised
The applicable tax rate in 2025 in the Netherlands is 19% (2024: 19%) over the first
\u20ac200,000 (2024: \u20ac200.000) and 25.8% over the remainder of the profit.
Applicable tax rates outside the Netherlands are 23% - 33% in Germany
(depending on location), 25% in the UK, 25% in Belgium, 25% in France, 11% - 21%
in Switzerland (depending on location), 22% in Denmark, 24% in Italy and 25% in
Spain.
Due to the tax loss realised in 2025 and previous years for which no deferred tax
asset is recognised in the statement of financial position, the Group\u2019s effective
tax rate is nil (2024: 0%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-351": { "value": "Earnings per share
The combined earnings per share calculations are based on the average number
of share units (certificates) representing the certificates in issue during the
period. In calculating diluted earnings per share and earnings per share
adjustment is made to the number of shares for the share options of personnel
(Note 24).
As the conversion rights are anti-dilutive, diluted EPS is the same as basic EPS.
Earnings per share (\u20ac)
2025
2024
Basic loss per share
(1.55)
(1.38)
Diluted loss per share
(1.55)
(1.38)
Calculation of average number
of share units
2025
2024
Weighted average number of shares
19,526,623
19,356,248
Effects of dilution from:
Share options of personnel
202,613
350,756
Diluted number of shares
19,729,236
19,707,004
Calculation of earnings (\u20ac\u2019000)
2025
2024
Net profit / (loss)
(30,227)
(26,641)
Net profit / (loss) attributable to
shareholders\u2019 equity
(30,227)
(26,641)
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-352": { "value": "
The combined earnings per share calculations are based on the average number
of share units (certificates) representing the certificates in issue during the
period. In calculating diluted earnings per share and earnings per share
adjustment is made to the number of shares for the share options of personnel
(Note 24).
As the conversion rights are anti-dilutive, diluted EPS is the same as basic EPS.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-353": { "value": "-30227000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-354": { "value": "-26641000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f-356": { "value": "Intangible assets
The Group\u2019s intangible assets comprise site licences & permits, trademarks and
internally developed software. Details of the carrying amounts are as follows:
2025
2024
\u20ac\u2019000
Site licences &
permits
Internally
developed
software
Trademarks
Total
Site licences &
permits
Internally
developed
software
Trademarks
Total
Gross carrying amount
As of 1 January:
2,589
1,721
133
4,443
2,589
1,303
99
3,991
Additions - internal
development
\u2014
665
\u2014
665
\u2014
419
\u2014
419
Additions - acquired
\u2014
\u2014
23
23
\u2014
\u2014
34
34
As at 31 December
2,589
2,386
156
5,132
2,589
1,722
133
4,444
Amortisation and
impairment
As of 1 January:
(992)
(902)
(92)
(1,986)
(770)
(650)
(67)
(1,487)
Amortisation
(222)
(297)
(18)
(537)
(222)
(253)
(24)
(499)
As at 31 December
(1,214)
(1,200)
(109)
(2,523)
(992)
(902)
(92)
(1,986)
At 31 December
Net Book Value
1,375
1,187
47
2,609
1,597
820
41
2,458
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-355": { "value": "Intangible assets
The Group\u2019s intangible assets comprise site licences & permits, trademarks and
internally developed software. Details of the carrying amounts are as follows:
2025
2024
\u20ac\u2019000
Site licences &
permits
Internally
developed
software
Trademarks
Total
Site licences &
permits
Internally
developed
software
Trademarks
Total
Gross carrying amount
As of 1 January:
2,589
1,721
133
4,443
2,589
1,303
99
3,991
Additions - internal
development
\u2014
665
\u2014
665
\u2014
419
\u2014
419
Additions - acquired
\u2014
\u2014
23
23
\u2014
\u2014
34
34
As at 31 December
2,589
2,386
156
5,132
2,589
1,722
133
4,444
Amortisation and
impairment
As of 1 January:
(992)
(902)
(92)
(1,986)
(770)
(650)
(67)
(1,487)
Amortisation
(222)
(297)
(18)
(537)
(222)
(253)
(24)
(499)
As at 31 December
(1,214)
(1,200)
(109)
(2,523)
(992)
(902)
(92)
(1,986)
At 31 December
Net Book Value
1,375
1,187
47
2,609
1,597
820
41
2,458
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-357": { "value": "Property, plant and equipment
\u20ac\u2019000
Land
Construction in
progress
Charging stations
and technical
installations
Other
equipment
Total
Cost
At 1 January 2024
856
30,436
188,644
2,551
222,487
Additions
493
66,336
2,222
1,873
70,924
Reclassification from held for sale
\u2014
\u2014
94
\u2014
94
Change in estimate
\u2014
\u2014
1,392
\u2014
1,392
Currency exchange differences
38
381
512
\u2014
941
Disposals
\u2014
(1,173)
(2,487)
\u2014
(3,660)
Transfer
\u2014
(51,178)
51,178
\u2014
\u2014
At 31 December 2024
1,388
44,802
241,555
4,433
292,178
Additions
761
86,367
101
744
87,973
Change in estimate
\u2014
\u2014
(433)
\u2014
(433)
Currency exchange differences
(44)
(612)
(963)
(13)
(1,632)
Disposals
\u2014
(3,530)
(5,626)
(5)
(9,161)
Transfer
\u2014
(80,438)
80,438
\u2014
\u2014
At 31 December 2025
2,105
46,589
315,072
5,160
368,925
\u20ac\u2019000
Land
Construction in
progress
Charging stations
and technical
installations
Other
equipment
Total
Depreciation and impairment
At 1 January 2024
\u2014
\u2014
(35,379)
(1,117)
(36,495)
Depreciation charge for the year
\u2014
\u2014
(18,455)
(621)
(19,076)
Currency exchange differences
\u2014
\u2014
(50)
(1)
(51)
Disposal
\u2014
\u2014
308
\u2014
308
Impairment
\u2014
\u2014
(1,496)
\u2014
(1,496)
At 31 December 2024
\u2014
\u2014
(55,072)
(1,739)
(56,811)
Depreciation charge for the year
\u2014
\u2014
(21,558)
(810)
(22,368)
Currency exchange differences
\u2014
\u2014
121
4
125
Disposals
\u2014
\u2014
2,864
2
2,866
Impairment
\u2014
\u2014
195
\u2014
195
At 31 December 2025
\u2014
\u2014
(73,450)
(2,543)
(75,993)
Net book value
At 31 December 2024
1,388
44,802
186,483
2,694
235,367
At 31 December 2025
2,105
46,589
241,623
2,617
292,932
Assets under construction amounting to \u20ac46.6 million (2024 : \u20ac 44.8 million)
mainly consists of machinery, equipments and furnishings to charging. Disposals
in assets under construction amounting to \u20ac3.5 million (2024: \u20ac1.2 million) relate
to consumed spare parts for the maintenance of stations. In addition, disposals
of charging stations amounting to \u20ac(5.6) million (2024: \u20ac2.4 million) relate to the
redevelopment of stations, asset sales and leaseback transactions and the
scrapping of old ABB chargers.
Additions include the recognition of directly attributable staff costs for an
amount of \u20ac 4.3 million (2024 : \u20ac 3.5 million).
Additions also include decommissioning asset changes amounting to \u20ac2.4
million\u00a0 (2024: \u20ac2.5 million).
The change in estimate includes revised estimates and change in estimates of
\u20ac433 thousand (2024: \u20ac 1.3 million) relating to the change in in decommissioning
provision due to new insights gathered on costs to dismantle stations at the end
of its concession term.
Transfer movements mainly includes transfers of finished works to charging
stations amounting to \u20ac80.4 million (2024: \u20ac51.2 million) from construction in
progress to charging stations.
In 2025, the Group completed a sale and leaseback transaction in respect of\u00a0
technical installations. The assets sold comprise low voltage racks of different
power levels, which had originally been purchased over the period 2016\u20132024
and capitalised as part of the Group\u2019s electrical infrastructure at those stations.\u00a0
The Group\u2019s objective in entering into this transaction was to optimise its capital
structure and recycle capital invested in grid\u2011connection infrastructure, while
continuing to use the assets in its operations. This is currently a single,
non\u2011recurring transaction with one counterparty and does not represent a
broader change in the Group\u2019s asset ownership strategy. The Group transferred
legal title, possession and the significant risks and rewards of ownership of 131
individual assets for cash consideration of \u20ac1.5 million. The assets had a carrying
amount at the transaction date of approximately \u20ac1.9 million. The Group leases
back the assets for a non\u2011cancellable period of 10 years, with fixed monthly lease
payments of approximately \u20ac18.6 thousand, determined on an arm\u2019s\u2011length basis
with reference to current market prices. The Group\u00a0 recognised a lease liability of
\u20ac1.7 million and a right\u2011of\u2011use asset of \u20ac2.1 million at the commencement date of
the leaseback.\u00a0 The difference between the consideration received and the
estimated fair value of the assets was accounted for as a prepayment of lease
payments and will be amortised over the lease term. Net cash inflows from this
transaction are presented within investing activities (cash proceeds from sale of
assets), while lease payments made in the period are presented within financing
activities as repayments of lease liabilities and interest paid.
Included in Charging Stations and Technical Installations is Government grant
assets, which are recognised as a negative asset. During 2025, Fastned
recognised new government grant assets received from the German
government for the Regional Tender of \u20ac 2.4 million, which is expected to
increase in the following years as more stations are opened for the German
Regional Tender. Other Government grants received in 2025\u00a0 amounts to \u20ac 1.5
million (2024: 4.3 million). Net book value of the government grants amount to
\u20ac11.2 million (2024: \u20ac8.2 million).
Unfulfilled Conditions and Other Obligations related to the German government
grants:
As of the reporting date, the Group is subject to several unfulfilled conditions,
primarily the completion of charging infrastructure construction within
contractual deadlines and a commitment to operate these facilities for a total of
12 years (an initial 8-year term followed by a 4-year extension). Additionally, the
Group must comply with a remuneration sharing arrangement, paying \u20ac0.15 per
kWh of electricity supplied up to the total value of the subsidy received , while
maintaining operational standards related to renewable energy sourcing and
facility maintenance. Failure to meet these operating criteria results in a pro-
rated repayment liability for any remaining subsidy balance.
Unfulfilled Conditions and Other Obligations related to the French government
grants:
The Group is bound by several post-payment obligations to ensure continued
compliance. Primarily, the company must maintain the subsidized charging
facilities in operation for a minimum of six years from their commissioning date.
Furthermore, for a period of at least three years following the date of invoice,
Fastned is required to keep all supporting documentation\u2014including detailed
invoices , bank statements, and geolocalized photos\u2014available for audit by the
Agence de Services et de Paiement (ASP). During this same three-year window,
the beneficiary must promptly notify the ASP of any significant changes to its
statutory, geographical, or financial situation, as well as any changes to the
organisation's name or the project itself.
Capitalised borrowing costs
The amount of borrowing costs capitalised during the year ended 31 December
2025 was \u20ac2.1 million (2024: nil). The capitalisation rate used to determine the
amount of borrowing costs to be capitalised is the weighted average interest
rate applicable to the Group's general borrowings during the year, in this case
6.00%.
Impairment assessment
IAS 36 Impairment of Assets requires entities to perform an impairment test (i.e.,
estimate the recoverable amount of the affected cash generating unit (CGU) at
the end of each reporting period when there is any indication that the cash
generating unit may be impaired.
Fasted has defined CGU\u2019s based on the geographic area where charging
stations are located. In 2025 the Board of Directors identified CGU\u2019s as the
Netherlands, Germany, Belgium, United Kingdom, Switzerland, France,\u00a0 Denmark,
Italy and Spain.
A cash-generating unit is the smallest identifiable group of assets that generates
cash inflows that are largely independent of the cash inflows from other assets or
groups of assets. Individual Fastned stations are not seen as generating
independent cash inflows due to:
\u2022 The importance of the Fastned brand, station design, and network with
national coverage.
\u2022 Substitution between stations, i.e., if a site is closed customers will divert to
the next closest site or next on-route site. The market for Fastned is EV drivers
travelling longer distances on/close to motorway attracted to a network of
sites with good geographical coverage.
\u2022 Management performance monitoring and allocation of available capex
budget is determined on a country level.
Further, with the additions of shops, management also currently does not view it
as separate CGU's due to the following reasons:
\u2022 Management views shops and kiosks as an enabler of charging, and not a
standalone business, with retail uplift embedded in charging volumes. This
means that cash inflows of the shops are inextricably linked with, and not
independent from, those of the country charging network
\u2022 Retail/ shops is used as an enabler in certain tenders or constructs where
Fastned already has a charging station or where a station will also be built.
Shops would not be built on sites without Fastned stations.
Management has assessed external and internal sources of information for
indications that an asset may be impaired as at the reporting date. This review
included an assessment of the condition of assets, the technological, market and
legal environment in which the company is doing business, market interest rates
and internal sources of information.
Even though the long term fundamentals of the BEV transition are firmly in place
with battery technology improving and continued government targets,
management considered it prudent to conduct an impairment test for all CGUs
as at year end 2025, as updated BEV adoption forecasts were lower versus
previous forecasts, especially in the near term due to growth in competitor
infrastructure. Key data utilised in this assessment was updated forecasts on
BEVs on the road as a % of total passenger car fleet at year end, average
charging speed estimated for assets in current condition, driving patterns and
market share assumptions, electricity prices, growth rate estimates and
Fastned's Weighted average cost of capital ('WACC'). All CGUs showed
sufficient headroom and therefore no impairment was identified.
The recoverable amount of the CGUs is determined through a value in use model
as defined by IAS 36. In line with guidance, Management performed sensitivity
analyses to determine any potential shortfall in headroom. Key figures adjusted in
performing sensitivity analyses were the following:
\u2022 Increase in WACC\u00a0 per country
\u2022 Changing the assumptions regarding\u00a0 BEV penetration rates in future periods
\u2022 Changing assumptions regarding inflation in all countries affecting costs in the
ViU model
It was observed that a shortfall in headroom could exist in the United Kingdom
CGU once the WACC is increased by 2 percentage points, if UK long term
inflation increases by 2 percentage points, or if there is no BEV growth after the
year 2027.
However, Management considers the sensitivities to represent severe downside
stress scenarios rather than management\u2019s expected outcome. In line with IAS 36
and IAS 1, sensitivities demonstrate mechanical breakpoints under stressed
assumptions; however, management does not consider the UK outcomes under
these severe sensitivities to be the most likely outcome and therefore concludes
that they do not, by themselves, indicate that an impairment exists at the
reporting date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-358": { "value": "
Included in Charging Stations and Technical Installations is Government grant
assets, which are recognised as a negative asset. During 2025, Fastned
recognised new government grant assets received from the German
government for the Regional Tender of \u20ac 2.4 million, which is expected to
increase in the following years as more stations are opened for the German
Regional Tender. Other Government grants received in 2025\u00a0 amounts to \u20ac 1.5
million (2024: 4.3 million). Net book value of the government grants amount to
\u20ac11.2 million (2024: \u20ac8.2 million).
Unfulfilled Conditions and Other Obligations related to the German government
grants:
As of the reporting date, the Group is subject to several unfulfilled conditions,
primarily the completion of charging infrastructure construction within
contractual deadlines and a commitment to operate these facilities for a total of
12 years (an initial 8-year term followed by a 4-year extension). Additionally, the
Group must comply with a remuneration sharing arrangement, paying \u20ac0.15 per
kWh of electricity supplied up to the total value of the subsidy received , while
maintaining operational standards related to renewable energy sourcing and
facility maintenance. Failure to meet these operating criteria results in a pro-
rated repayment liability for any remaining subsidy balance.
Unfulfilled Conditions and Other Obligations related to the French government
grants:
The Group is bound by several post-payment obligations to ensure continued
compliance. Primarily, the company must maintain the subsidized charging
facilities in operation for a minimum of six years from their commissioning date.
Furthermore, for a period of at least three years following the date of invoice,
Fastned is required to keep all supporting documentation\u2014including detailed
invoices , bank statements, and geolocalized photos\u2014available for audit by the
Agence de Services et de Paiement (ASP). During this same three-year window,
the beneficiary must promptly notify the ASP of any significant changes to its
statutory, geographical, or financial situation, as well as any changes to the
organisation's name or the project itself.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-359": { "value": "
Capitalised borrowing costs
The amount of borrowing costs capitalised during the year ended 31 December
2025 was \u20ac2.1 million (2024: nil). The capitalisation rate used to determine the
amount of borrowing costs to be capitalised is the weighted average interest
rate applicable to the Group's general borrowings during the year, in this case
6.00%.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-360": { "value": "
Impairment assessment
IAS 36 Impairment of Assets requires entities to perform an impairment test (i.e.,
estimate the recoverable amount of the affected cash generating unit (CGU) at
the end of each reporting period when there is any indication that the cash
generating unit may be impaired.
Fasted has defined CGU\u2019s based on the geographic area where charging
stations are located. In 2025 the Board of Directors identified CGU\u2019s as the
Netherlands, Germany, Belgium, United Kingdom, Switzerland, France,\u00a0 Denmark,
Italy and Spain.
A cash-generating unit is the smallest identifiable group of assets that generates
cash inflows that are largely independent of the cash inflows from other assets or
groups of assets. Individual Fastned stations are not seen as generating
independent cash inflows due to:
\u2022 The importance of the Fastned brand, station design, and network with
national coverage.
\u2022 Substitution between stations, i.e., if a site is closed customers will divert to
the next closest site or next on-route site. The market for Fastned is EV drivers
travelling longer distances on/close to motorway attracted to a network of
sites with good geographical coverage.
\u2022 Management performance monitoring and allocation of available capex
budget is determined on a country level.
Further, with the additions of shops, management also currently does not view it
as separate CGU's due to the following reasons:
\u2022 Management views shops and kiosks as an enabler of charging, and not a
standalone business, with retail uplift embedded in charging volumes. This
means that cash inflows of the shops are inextricably linked with, and not
independent from, those of the country charging network
\u2022 Retail/ shops is used as an enabler in certain tenders or constructs where
Fastned already has a charging station or where a station will also be built.
Shops would not be built on sites without Fastned stations.
Management has assessed external and internal sources of information for
indications that an asset may be impaired as at the reporting date. This review
included an assessment of the condition of assets, the technological, market and
legal environment in which the company is doing business, market interest rates
and internal sources of information.
Even though the long term fundamentals of the BEV transition are firmly in place
with battery technology improving and continued government targets,
management considered it prudent to conduct an impairment test for all CGUs
as at year end 2025, as updated BEV adoption forecasts were lower versus
previous forecasts, especially in the near term due to growth in competitor
infrastructure. Key data utilised in this assessment was updated forecasts on
BEVs on the road as a % of total passenger car fleet at year end, average
charging speed estimated for assets in current condition, driving patterns and
market share assumptions, electricity prices, growth rate estimates and
Fastned's Weighted average cost of capital ('WACC'). All CGUs showed
sufficient headroom and therefore no impairment was identified.
The recoverable amount of the CGUs is determined through a value in use model
as defined by IAS 36. In line with guidance, Management performed sensitivity
analyses to determine any potential shortfall in headroom. Key figures adjusted in
performing sensitivity analyses were the following:
\u2022 Increase in WACC\u00a0 per country
\u2022 Changing the assumptions regarding\u00a0 BEV penetration rates in future periods
\u2022 Changing assumptions regarding inflation in all countries affecting costs in the
ViU model
It was observed that a shortfall in headroom could exist in the United Kingdom
CGU once the WACC is increased by 2 percentage points, if UK long term
inflation increases by 2 percentage points, or if there is no BEV growth after the
year 2027.
However, Management considers the sensitivities to represent severe downside
stress scenarios rather than management\u2019s expected outcome. In line with IAS 36
and IAS 1, sensitivities demonstrate mechanical breakpoints under stressed
assumptions; however, management does not consider the UK outcomes under
these severe sensitivities to be the most likely outcome and therefore concludes
that they do not, by themselves, indicate that an impairment exists at the
reporting date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-361": { "value": "Right-of-use assets
\u20ac\u2019000
Office
Building
Land
Charging
stations and
equipment
Vehicles
Total
Cost
At 1 January 2024
7,466
10,187
4,810
2,878
25,341
Additions
1,826
16,040
642
1,192
19,700
Disposals
(1,343)
(207)
(71)
(112)
(1,733)
Currency exchange adjustments
19
71
\u2014
11
101
At 31 December 2024
7,968
26,093
5,381
3,969
43,409
Additions
2,549
21,314
2,584
1,799
28,246
Disposals
\u2014
(26)
(163)
(509)
(698)
Modifications
334
1,012
317
73
1,737
Currency exchange adjustments
(195)
(257)
7
(49)
(494)
At 31 December 2025
10,656
48,136
8,126
5,283
72,201
Depreciation and impairment
At 1 January 2024
(1,856)
(1,141)
(1,317)
(1,458)
(5,772)
Depreciation charge for the year
(1,239)
(1,163)
(624)
(752)
(3,777)
Disposals
1,030
46
19
81
1,176
Currency exchange adjustments
(9)
(4)
\u2014
(3)
(16)
At 31 December 2024
(2,073)
(2,262)
(1,922)
(2,132)
(8,389)
Depreciation charge for the year
(1,528)
(2,144)
(847)
(980)
(5,499)
Disposals
\u2014
7
79
481
567
Currency exchange adjustments
141
(7)
(4)
46
176
At 31 December 2025
(3,460)
(4,406)
(2,694)
(2,585)
(13,145)
Net book value
At 31 December 2024
5,893
23,831
3,459
1,837
35,020
At 31 December 2025
7,196
43,730
5,432
2,698
59,056
The Group leases assets including buildings, land, equipment and vehicles. The
average lease term for Land leases is 19 years (2024: 16 years).
Extension and termination options are included in a number of leases across the
Group. The majority of extension and termination options held are exercisable
only by the Group and not by the respective lessor. Most extension options in
leases have not been included in the lease term, because the Group is not
reasonably certain that leases will be extended.\u00a0
The maturity analysis of lease liabilities is presented in Note 21.
The assessment of impairment losses is presented in Note 12 .
Amounts recognized in profit and loss:
\u20ac\u2019000
2025
2024
Depreciation on right-of-use assets
5,493
3,736
Interest expense on lease liabilities
3,644
2,668
Expense relating to short term leases
630
510
Expense relating to leases of low value
assets
249
118
Expense relating to variable lease payments
not included in the measurement of the lease
liability
813
862
As of December 31, 2025, the Group is committed to \u20ac788 thousand (2024:
\u20ac703 thousand) for short term and low value leases.
Some of the property leases in which the Group is the lessee contain variable
lease payment terms that are linked to the sales generated from the charging
stations. Overall the variable payments constitute a very small percentage of the
Group\u2019s entire lease payments. The Group expects this ratio to increase in future
years. The variable payments depend on sales and consequently overall
economic development over the next few years.
The total cash outflow in 2025 for leases amounted to \u20ac4,265 thousand (2024:
\u20ac3,656\u00a0 thousand) for lease liabilities and \u20ac879 thousand (2024: \u20ac419 thousand)
for short term and low value leases.
Lease liabilities
\u20ac\u2019000
31 December
2025
31 December
2024
Maturity analysis:
Year 1
8,803
6,015
Year 2
8,561
5,879
Year 3
8,341
5,543
Year 4
6,709
5,217
Year 5
6,196
3,902
> 5 years
74,720
35,070
Total
113,331
61,625
Less: unearned interest
(50,467)
(23,907)
Total lease liabilities
62,864
37,719
Analysed as :
Current
4,694
3,358
Non-current
58,170
34,361
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-362": { "value": "Interest in joint venture
In 2025, Fastned increased its investment in\u00a0 Fast Places Limited for cash
consideration of\u00a0 \u20ac4,579 thousand plus \u20ac44 thousand transaction costs. As a
consequence, influence over this investment did not change and remained at
51%.
The carrying amount of equity-accounted investments has changed as follows in
2025:
\u20ac\u2019000
2025
At 1 January
\u2014
Additions
4,625
Loss for the period
(223)
At 31 December
4,402
Summarised financial information in respect of The Group's material associates
and joint ventures for the year ended 31\u00a0December 2025, reflecting 100% of the
underlying entities\u2019 relevant figures, is set out below:
\u20ac\u2019000
2025
Current Assets
6,478
Fixed Assets
4,029
Total Assets
10,507
Current Liabilities
1,950
Capital and Reserves
8,557
Total Liabilities and Equity
10,507
Reconciliation of Investment in Joint Ventures:
\u20ac\u2019000
2025
Equity at 100%
8,557
Transaction costs
75
Net amount
8,631
Group share (51%)
4,402
Investment in Joint Venture (per above)
4,402
Summarised profit and loss in respect of The Group's associates and joint
ventures, reflecting 100% of the underlying entities\u2019 relevant figures for the year
ended 31 December 2025, is set out below:
\u20ac\u2019000
2025
Revenue
\u2014
Cost of Sales
\u2014
Gross Profit
\u2014
Operating loss
(429)
Net Loss for the year (100%)
(437)
Group share of loss (51%)
(223)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-363": { "value": "Financial assets: interest-bearing loans and
borrowings
\u20ac\u2019000
2025
2024
Non-current interest-bearing
Pledged assets
\u2014
700
Lease Receivable
1,824
1,790
Other non-current financial assets
8,287
\u2014
Total financial assets
10,111
2,490
Impairment loss on financial assets
\u2014
\u2014
Total financial assets, net
10,111
2,490
Current financial assets
164
150
Non-current financial assets
9,948
2,340
Pledged assets
The Group has no restricted cash related to construction and operating
guarantees provided in relation to French stations ( 2024: \u20ac0.7 million).\u00a0 During
2025, the related restricted cash of \u20ac0.7 million was returned to the Group\u2019s
bank account.
Other non-current financial assets
Other non-current financial assets includes Long term deposits \u20ac1.8 million
(2024: nil) and amounts receivable from the German Highway authorities of \u20ac6.1
million (2024: nil) relating to the amount that is reclassified from contract asset, as
explained in Note 2.2 under 'Contract assets'.
Lease receivable
Fastned is the lessor in a finance lease of a commercial unit at one station
location, which is leased to a third party to operate a shop. Under this
arrangement, Fastned retains ownership of the underlying asset as part of its
station infrastructure. The risks associated with the rights retained in the
underlying asset relate primarily to credit risk on lease receivables and the risk of
vacancy or reduced demand for the commercial space. These risks are managed
through standard tenant selection procedures, contract terms that provide
remedies in the event of non\u2011performance, and ongoing monitoring of the
counterparty and station performance. The lease does not include buy\u2011back
agreements, residual value guarantees or variable lease payments for use in
excess of specified limits. The lease is denominated in euro, so Fastned is not
exposed to foreign currency risk arising from this arrangement. The impact of the
lease on profit or loss\u00a0 for the year 2025 is minimal.
Amounts receivable under finance lease:
\u20ac\u2019000
2025
2024
Year 1
164
148
Year 2
164
148
Year 3
165
148
Undiscounted lease payments
1,850
1,800
Unearned finance income
26
13
Present value of lease payments
receivable,net
1,824
1,787
Receivable payments
\u2014
3
Lease receivable
1,824
1,790
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-364": { "value": "Financial liabilities: Interest-bearing loans
and borrowings
Interest-bearing loans
and borrowings
Interest
rate (%)
Maturity
2025
2024
%
\u20ac\u2019000
\u20ac\u2019000
Unsecured bonds
6.0
28/07/25
\u2014
9,165
6.0
19/11/25
\u2014
12,654
5.0
12/12/26
11,981
30,357
5.0
21/06/27
7,262
13,248
5.5
12/06/28
24,413
24,413
6.0
16/10/28
34,537
34,537
6.0
19/02/29
27,892
27,892
6.0
21/06/29
33,067
33,068
6.0
30/10/29
22,135
22,136
6.0
19/02/30
36,528
\u2014
6.0
21/06/30
34,770
\u2014
6.0
30/10/30
39,098
\u2014
4% secured loan
4.0
01/12/31
2,138
2,241
4.0
01/12/32
12,591
12,139
German Regional Tender loan
01/12/31
8,681
4,610
Total interest-bearing
loans and borrowings
295,093
226,460
Unsecured bonds
In February 2025, Fastned raised \u20ac20.4 million through issue of corporate bonds,
and in addition, investors extended \u20ac16.1 million from earlier bonds issues.
Interest on this bond is 6% per annum, payable quarterly in arrears. In June 2025,
Fastned raised an additional \u20ac28.8 million of corporate bonds and \u20ac5.9 million of
extensions from earlier bonds issues. Interest on this bond is 6% per annum,
payable in quarterly arrears. In October 2025, Fastned raised an additional \u20ac29.5
million of corporate bonds and \u20ac9.5 million of extensions from earlier bonds
issues. Interest on this bond is 6% per annum, payable in quarterly arrears
The bonds mature after 5 years. The purpose of the bond is to finance new
stations and operating expenses. There are no securities for the bonds and there
are no covenants applicable that could require Fastned to repay any of the loans.
The bonds are not subordinated and trading is very limited as they are not
registered on any exchange.
Secured loan
Fastned secured a loan with Caisse des D\u00e9p\u00f4ts during 2022\u20132024 under which
no additional amounts were drawn in 2025 (2024: \u20ac9.8 million). Interest is a fixed
component in the first three years and will be accrued. In 2025, \u20ac0.45 million in
interest was accrued (2024: \u20ac0.45 million).\u00a0 In 2025, variable interest of \u20ac0.06
million based on kWh sold was recognised and paid.
German Government Grant
In 2025 Fastned received grants from the German government
(Bundesministerium f\u00fcr Verkehr) which are recognized initially at nominal value
until the station is opened, thereafter at the net present value of the future
estimated cash outflows, discounted at the Company\u2019s cost of debt, in
accordance with IAS 20 and IFRS 9. The grant is treated as an interest-free loan
and treated as a financial liability, which is unwound over the term of the
agreement.
The expected cash outflows are structured through a remuneration sharing
arrangement, based on a fixed rate per kWh sold per site each quarter.
Calculating the net present value of these payments includes judgement and is
based on the estimated kWh sold until the end of the contract individually per
site. The portion of the loan which is not expected to be reimbursed through the
remuneration sharing arrangement, is classified as a forgivable loan and is
recognised as Property, Plant & Equipment, as included in Note 12.
Included in the balance of the Regional Tender loan is an amount of \u20ac 4.5 million
which has been granted to Fastned for which the cash has not yet been received,
and therefore shown as a negative movement in the Statement of Cash Flows in
the 'Movement in trade receivables related to financing activities' line.", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-365": { "value": "Reconciliation of liabilities arising from
financing activities
2025
Maturing
01-Jan 2025
Interest p/l
charge
Cash flows
Non-cash
changes
31-Dec 2025
\u20ac\u2019000
Loan issue /
repayment
Interest paid /
received
Accrual
Extensions
Non-current liabilities : interest
bearing loans and borrowings
6% corporate bond
28/07/25
9,165
261
(6,878)
(357)
96
(2,287)
\u2014
6% corporate bond
19/11/25
12,654
506
(7,633)
(589)
87
(5,023)
\u2014
5% corporate bond
12/12/26
30,357
733
\u2014
(781)
48
(18,376)
11,981
5% corporate bond
21/06/27
13,248
579
\u2014
(588)
8
(5,986)
7,262
5.5% corporate bond
12/06/28
24,413
1,343
\u2014
(1,343)
\u2014
\u2014
24,413
6% corporate bond
16/10/28
34,537
2,072
\u2014
(2,072)
\u2014
\u2014
34,537
5.5% corporate bond
19/02/29
27,892
1,674
\u2014
(1,674)
\u2014
\u2014
27,892
6% corporate bond
21/06/29
33,068
1,983
\u2014
(1,984)
\u2014
\u2014
33,067
6% corporate bond
30/10/29
22,136
1,425
\u2014
(1,426)
\u2014
\u2014
22,135
6% corporate bond
19/02/30
\u2014
2,171
20,369
(1,919)
(252)
16,159
36,528
6% corporate bond
21/06/30
\u2014
1,223
28,774
(1,166)
(57)
5,996
34,770
6% corporate bond
30/10/30
\u2014
583
29,581
\u2014
(583)
9,517
39,098
4% secured loan
01/12/31
2,241
62
(100)
(59)
(6)
\u2014
2,138
4% secured loan
01/12/32
12,139
498
\u2014
\u2014
(46)
\u2014
12,591
German Regional Tender loan
01/12/31
4,610
19
6,418
\u2014
(2,367)
\u2014
8,681
226,460
15,132
70,531
(13,958)
(3,071)
\u2014
295,093
2024
Maturing
01-Jan 2024
Interest p/l
charge
Cash flows
Non-cash
changes
31-Dec 2024
\u20ac\u2019000
Loan issue /
repayment
Interest paid /
received
Accrual
Extensions
Non-current liabilities : interest
bearing loans and borrowings
6% corporate bond
21/03/24
7,304
86
(6,563)
(98)
12
(741)
\u2014
6% corporate bond
12/12/24
9,659
408
(5,204)
(438)
30
(4,455)
\u2014
6% corporate bond
28/07/25
16,206
702
\u2014
(776)
74
(7,041)
9,165
6% corporate bond
19/11/25
21,194
989
\u2014
(1,048)
59
(8,538)
12,654
5% corporate bond
12/12/26
30,357
1,517
\u2014
(1,517)
\u2014
\u2014
30,357
5% corporate bond
21/06/27
13,248
662
\u2014
(662)
\u2014
\u2014
13,248
5.5% corporate bond
12/06/28
24,413
1,342
\u2014
(1,342)
\u2014
\u2014
24,413
6% corporate bond
16/10/28
34,537
2,072
\u2014
(2,072)
\u2014
\u2014
34,537
6% corporate bond
19/02/29
\u2014
1,447
27,892
(1,255)
(192)
27,892
6% corporate bond
21/06/29
\u2014
1,047
33,067
(992)
(54)
33,068
6% corporate bond
30/10/29
\u2014
226
22,135
(225)
22,136
4% secured loan
01/12/31
2,160
\u2014
81
\u2014
\u2014
\u2014
2,241
4% secured loan
01/12/32
1,921
\u2014
10,218
\u2014
\u2014
\u2014
12,139
German Regional Tender loan
01/12/31
\u2014
4
4,605
\u2014
1
\u2014
4,610
160,999
10,502
86,231
(10,200)
(295)
(20,775)
226,460
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-366": { "value": "Fair values
Set out below is a comparison, by class, of the carrying amounts and fair value of
financial instruments, other than those with carrying amounts that are reasonable
approximations of fair values:
Carrying amount
Fair value measurement
using significant
unobservable inputs
\u20ac\u2019000
2025
2024
2025
2024
Financial assets
Lease receivables
1,824
1,790
1,824
1,790
Pledged assets
\u2014
700
\u2014
700
Total
1,824
2,490
1,824
2,490
Financial liabilities
Interest-bearing loans and
borrowings
295,093
226,460
295,093
226,460
Total
295,093
226,460
295,093
226,460
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-367": { "value": "
Management assessed that cash and cash equivalents, trade and other
receivables, trade and other payables, and other current liabilities approximate to
their carrying amounts largely due to the short-term maturities of these
instruments.
Fair value hierarchy and valuation techniques
This section explains the judgements and estimates made in determining the fair
values of the financial instruments that are recognised and measured at fair value
in the financial statements. To provide an indication about the reliability of the
inputs used in determining fair value, the group has classified its financial
instruments into the three levels prescribed under the accounting standards. An
explanation of each level follows underneath the table.
At 31 December 2025
Level 1
Level 2
Level 3
Total
\u20ac\u2019000
Financial assets
Lease receivables
\u2014
\u2014
1,824
1,824
Total financial assets
\u2014
\u2014
1,824
1,824
Financial liabilities
Interest-bearing loans and
borrowings
\u2014
295,093
\u2014
295,093
Total financial
liabilities
\u2014
295,093
\u2014
295,093
At 31 December 2024
Level 1
Level 2
Level 3
Total
\u20ac\u2019000
Financial assets
Lease receivables
\u2014
\u2014
1,790
1,790
Pledge assets
\u2014
\u2014
700
700
Total financial assets
\u2014
\u2014
2,490
2,490
Financial liabilities
Interest-bearing loans and
borrowings
\u2014
226,460
\u2014
226,460
Total financial
liabilities
\u2014
226,460
\u2014
226,460
The Group\u2019s policy is to recognise transfers into and out of fair value hierarchy
levels as at the end of the reporting period.
Level 1: The fair value of financial instruments traded in active markets is based on
quoted market prices at the end of the reporting period. The quoted market price
used for financial assets held by the Group is the current bid price. These
instruments are included in level 1.
Level 2: The fair value of financial instruments that are not traded in an active
market is determined using valuation techniques that maximise the use of
observable market data and rely as little as possible on entity-specific estimates.
If all significant inputs required to fair value an instrument are observable, the
instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market
data, the instrument is included in level 3.
The Group used discount rate implicit in the rent agreement as level 3 inputs to
determine lease receivables balance.\u00a0
The fair value of the interest-bearing loans and borrowings is included at the
amount at which the instrument could be exchanged in a current transaction
between willing parties, other than in a forced or liquidation sale. The following
methods and assumptions were used to estimate the fair values:
\u2022 Long-term fixed-rate borrowings are evaluated by the Group based on
parameters such as interest rates and the risk characteristics of the financed
project.
\u2022 The fair value of the interest-bearing loans and borrowings is estimated by
discounting future cash flows using rates currently available for debt on similar
terms, credit risk and remaining maturities, being sensitive to a reasonably
possible change in the forecast cash flows or the discount rate.
Management regularly assesses a range of reasonably possible alternatives for
those significant unobservable inputs and determines their impact on the total
fair value. Based on assessments performed, it is anticipated that the fair value of
unsecured bonds is not materially different from the amortised value.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-368": { "value": "Financial risk management objectives and
policies
The Group\u2019s principal financial instruments comprise loans and borrowings, trade
and other payables. The main purpose of these financial liabilities is to finance the
Group\u2019s operations. The Group\u2019s principal financial instruments include trade and
other receivables and cash and cash equivalents that derive directly from its
operations.
The Group is exposed to interest risk, commodity price risk, credit risk, currency
risk and liquidity risk. The Group\u2019s senior management oversees the management
of these risks.
It is the Group\u2019s policy that no trading in derivatives for speculative purposes may
be undertaken. The Board of Directors reviews and agrees policies for managing
each of these risks, which are summarised below.
(1) Market risk
Market risk is the risk that the fair vaIue of future cash flows of financial instrument
wilI fluctuate because of changes in market prices. Market prices comprise two
types of risk: interest rate risk and commodity price risk.
(a) Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial
instrument will fluctuate because of changes in market interest rates. The
Group\u2019s exposure to the risk of changes in market interest rates is low due to the
Group\u2019s long-term debt obligations with fixed rates. The impact on the provisions
is disclosed in Note 3. Also, the Group decided to invest surplus cash in short term
deposits resulting in additional interest income. The Management Board has
decided that no further hedging is required for interest rate risk.
(b) Commodity price risk
The Group is affected by the price volatility of certain commodities. Its operating
activities require the ongoing purchase of electricity and therefore require a
continuous supply of electricity. The Group purchases majority of electricity on
the spot wholesale market. There are no financial instruments related to
commodity price risk. The Management Board has developed and enacted a risk
management strategy for commodity price risk and its mitigation. This strategy
includes the use of fixed-price Physical Power Purchase Agreements ('PPAs') for
wind and solar energy, forward contracts and fixed-price contracts to reduce
exposure to spot price fluctuations.
The Group has performed a sensitivity analysis of the effect of changes in the
price of electricity on the remaining balance that is not hedged as of 2025:
\u2022 Increase in electricity prices of 1% across all countries: \u20ac170 thousand
increase in cost of sales
\u2022 Increase in electricity prices of 5% across all countries: \u20ac847 thousand
increase in cost of sales
\u2022 Increase in electricity prices of 10% across all countries: \u20ac1.6 million increase
in cost of sales
In 2026, the Group plans to further mitigate its risk by entering into additional
long-term PPAs and increasing the hedged share of energy purchases.
Reference made to Note 25 as well.
(2) Credit risk
Credit risk is the risk that a counterparty will not meet its obligations under a
financial instrument or customer contract, leading to a financial loss. The Group is
exposed to credit risk from its operating activities (primarily trade receivables,
see Note 15) and from its financing activities, including deposits with banks and
financial institutions, (refer to Note 16) and other financial instruments. Cash and
cash equivalents are current account balances, mainly concentrated at one bank
under supervision of the Dutch Central Bank with an A or equivalent long term
rating.
(a) Trade receivables
A large portion of revenues is collected via direct debit or credit and debit cards
from private individuals. The associated credit risk is low because the risk is
spread over a large number of individual customers. Receivables from charge
card providers are invoiced monthly, and spread over a small number of charge
card providers, and monitored to ensure no build up of overdue amounts. To
further address credit risk, in 2025, the Group successfully launched real-time
payments ('RTP') in certain countries, with further roll-out scheduled in other
countries. With RTP, transactions will be authorized and settled at the moment of
charging, instead of invoiced once a month, which will mitigate credit risk
significantly.
Receivables and contract assets arising from service concession revenue
consists of amounts receivable from one counterparty only, namely Die
Autobahn GmbH des Bundes. The Group has assessed the credit quality of this
counterparty and there have been no instances of non-payment or default, with
the German Highway authorities seen as a reputable customer. Prior to entering
into the agreement, approval is given by the Management Board.
The Group applies the IFRS 9 simplified model of recognising lifetime expected
credit losses for all trade receivables as these items do not have a significant
financing component. In measuring the expected credit losses, the trade
receivables have been assessed on a collective basis as they possess shared
credit risk characteristics. They have been grouped based on the days past due.
An assessment of the expected credit losses was made based on reasonable
and supportable information. The impact on the provision was not material.
Trade receivables are written off (i.e. derecognised) when there is no reasonable
expectation of recovery. Failure to make payments within 365 days from the
invoice date and failure to engage with the Group on alternative payment
arrangements amongst others are considered indicators of no reasonable
expectation of recovery. Trade receivables are non-interest bearing and are
\"\"
generally on terms of 14 days. Fastned applies the IFRS 15 practical expedient and
therefore does not account for interest on its accounts receivables.
Refer to Note 17 for loss allowance.
(b) Financial instruments and cash deposits
Credit risk from balances with banks and financial institutions is managed in
accordance with the Group\u2019s policy. Investments of surplus funds are made only
within credit limits assigned to each counterparty. Counterparty credit limits are
reviewed by the Group\u2019s Board of Directors on an annual basis, and may be
updated throughout the year. The limits are set to minimise the concentration of
risks and therefore mitigate financial loss through a counterparty\u2019s potential
failure to make payments.
Profit or loss is sensitive to higher/lower interest income from cash and cash
equivalents as a result of changes in interest rates.
Impact on profit or loss
\u20ac\u2019000
2025
2024
Interest rates - increase by 50 basis points
466
22
Interest rates - decrease by 50 basis points
(376)
(735)
(c) Currency risk
The Group operates in the European Union, in which the Euro is the most common
currency. The Group also operates in a few countries with other currencies being
the UK, Switzerland and Denmark. These countries operate mainly locally, i.e.
local sales and local purchases. Additionally, these entities are funded with
intercompany loans from the mother entity Fastned BV. The main risk are the
unrealized gains and losses on these intercompany loans. The balance at 31
December 2025 would change with \u20ac886 thousand in case foreign currency
exchange rates change with 1% (at 31 December 2024: \u20ac621 thousand).
(d) Liquidity risk
Prudent liquidity risk management implies maintaining sufficient cash and
marketable securities and the availability of funding through an adequate amount
of committed credit facilities to meet obligations when due. The Group monitors
its risk of a shortage of funds using a liquidity planning tool. See also the going
concern statement in Note 1. At the end of the reporting period Fastned held a
significant cash surplus safeguarding against liquidity risk.
The Group\u2019s objective is to realise its mission and therefore during the scale up
phase continuity of funding is required, while maintaining a balance between
debt and equity. The Group manages the liquidity risk by regularly issuing new
equity and through entering long-term debt agreements to ensure sufficient
liquidity and to repay debts as they fall due. Lastly, the Group is able to adjust the
building pace and reduce network expansion costs 16 in line with the available
liquidity if needed.
For contractural maturity of financial liabilities refer to Note 15.3, Note 20 and
Note 21.
Contracts referencing nature-dependent electricity
The Group has elected to early adopt the amendments to IFRS 7 and IFRS 9
regarding Contracts Referencing Nature-dependent Electricity effective
1\u00a0January 2025. These physical Power Purchase Agreements (PPAs) are
accounted for as executory contracts under the \u2018own-use\u2019 exception, as they
were entered into for the Group\u2019s expected usage requirements and not for
speculative purposes.
To secure a stable supply of renewable energy and manage price risk, Fastned
enters into physical PPAs with electricity producers. As of 31 December 2025, the
portfolio includes:
\u2022 Netherlands: Three solar PPAs and one wind PPA.
\u2022 Belgium: One solar PPA.
These contracts typically follow a \"pay-as-produced\" structure, requiring the
Group to purchase and take delivery of 90\u2013100% of the electricity generated.
Consequently, the Group is exposed to variability in delivery volumes due to
uncontrollable natural conditions (weather) and the risk of receiving electricity
during intervals of low charging demand. In certain Dutch contracts, the Group
receives SDE++ subsidies and maintains curtailment rights to mitigate grid and
volume exposure.
Refer to Note 3 for further details on the own-use assessment criteria. Refer to
the 'Commitments and Contingencies' note for disclosure of information
regarding the estimated future cash flows from these unrecognised PPA
commitments, categorised into appropriate time bands.
Based on the long-term nature of a PPA, it could become an onerous contract if
power prices decrease significantly. Onerous contracts are defined as contracts
in which the unavoidable costs of meeting the obligations under the contract
exceed the economic benefits expected to be received under it. The Group
assesses the risk of these contracts becoming onerous by annually inspecting
the forecasted electricity costs, which are based on third party information.
During the year, the company made purchases\u00a0 worth \u20ac 3.2 million under these
contracts. Of these purchases, \u20ac 69.4 thousand was unused and sold on the spot
market.
The table below summarises the maturity profile of the Group\u2019s liabilities based
on contractual undiscounted payments.
\u20ac\u2019000
On
demand
Less than 3
months
3-12
months
1-5
years
Total
Year ended 31 December 2025
Interest-bearing loans and borrowings
\u2014
\u2014
12,381
282,712
295,093
Interest on interest-bearing loans and borrowings
\u2014
3,997
11,990
42,858
58,845
Lease liabilities*
\u2014
\u2014
4,694
58,170
62,865
Trade and other payables
27,027
4,318
\u2014
\u2014
31,345
Total
27,027
8,315
29,065
383,740
448,147
Year ended 31 December 2024
Interest-bearing loans and borrowings
\u2014
\u2014
21,921
204,539
226,460
Interest on interest-bearing loans and borrowings
\u2014
2,788
9,041
19,644
31,473
Lease liabilities*
\u2014
\u2014
3,358
34,361
37,719
Trade and other payables
20,723
1,249
\u2014
\u2014
21,972
Total
20,723
4,037
34,320
258,544
317,624
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-369": { "value": "Market risk
Market risk is the risk that the fair vaIue of future cash flows of financial instrument
wilI fluctuate because of changes in market prices. Market prices comprise two
types of risk: interest rate risk and commodity price risk.
(a) Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial
instrument will fluctuate because of changes in market interest rates. The
Group\u2019s exposure to the risk of changes in market interest rates is low due to the
Group\u2019s long-term debt obligations with fixed rates. The impact on the provisions
is disclosed in Note 3. Also, the Group decided to invest surplus cash in short term
deposits resulting in additional interest income. The Management Board has
decided that no further hedging is required for interest rate risk.
(b) Commodity price risk
The Group is affected by the price volatility of certain commodities. Its operating
activities require the ongoing purchase of electricity and therefore require a
continuous supply of electricity. The Group purchases majority of electricity on
the spot wholesale market. There are no financial instruments related to
commodity price risk. The Management Board has developed and enacted a risk
management strategy for commodity price risk and its mitigation. This strategy
includes the use of fixed-price Physical Power Purchase Agreements ('PPAs') for
wind and solar energy, forward contracts and fixed-price contracts to reduce
exposure to spot price fluctuations.
The Group has performed a sensitivity analysis of the effect of changes in the
price of electricity on the remaining balance that is not hedged as of 2025:
\u2022 Increase in electricity prices of 1% across all countries: \u20ac170 thousand
increase in cost of sales
\u2022 Increase in electricity prices of 5% across all countries: \u20ac847 thousand
increase in cost of sales
\u2022 Increase in electricity prices of 10% across all countries: \u20ac1.6 million increase
in cost of sales
In 2026, the Group plans to further mitigate its risk by entering into additional
long-term PPAs and increasing the hedged share of energy purchases.
Reference made to Note 25 as well.", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-370": { "value": "Credit risk
Credit risk is the risk that a counterparty will not meet its obligations under a
financial instrument or customer contract, leading to a financial loss. The Group is
exposed to credit risk from its operating activities (primarily trade receivables,
see Note 15) and from its financing activities, including deposits with banks and
financial institutions, (refer to Note 16) and other financial instruments. Cash and
cash equivalents are current account balances, mainly concentrated at one bank
under supervision of the Dutch Central Bank with an A or equivalent long term
rating.
(a) Trade receivables
A large portion of revenues is collected via direct debit or credit and debit cards
from private individuals. The associated credit risk is low because the risk is
spread over a large number of individual customers. Receivables from charge
card providers are invoiced monthly, and spread over a small number of charge
card providers, and monitored to ensure no build up of overdue amounts. To
further address credit risk, in 2025, the Group successfully launched real-time
payments ('RTP') in certain countries, with further roll-out scheduled in other
countries. With RTP, transactions will be authorized and settled at the moment of
charging, instead of invoiced once a month, which will mitigate credit risk
significantly.
Receivables and contract assets arising from service concession revenue
consists of amounts receivable from one counterparty only, namely Die
Autobahn GmbH des Bundes. The Group has assessed the credit quality of this
counterparty and there have been no instances of non-payment or default, with
the German Highway authorities seen as a reputable customer. Prior to entering
into the agreement, approval is given by the Management Board.
The Group applies the IFRS 9 simplified model of recognising lifetime expected
credit losses for all trade receivables as these items do not have a significant
financing component. In measuring the expected credit losses, the trade
receivables have been assessed on a collective basis as they possess shared
credit risk characteristics. They have been grouped based on the days past due.
An assessment of the expected credit losses was made based on reasonable
and supportable information. The impact on the provision was not material.
Trade receivables are written off (i.e. derecognised) when there is no reasonable
expectation of recovery. Failure to make payments within 365 days from the
invoice date and failure to engage with the Group on alternative payment
arrangements amongst others are considered indicators of no reasonable
expectation of recovery. Trade receivables are non-interest bearing and are
\"\"
generally on terms of 14 days. Fastned applies the IFRS 15 practical expedient and
therefore does not account for interest on its accounts receivables.
Refer to Note 17 for loss allowance.
(b) Financial instruments and cash deposits
Credit risk from balances with banks and financial institutions is managed in
accordance with the Group\u2019s policy. Investments of surplus funds are made only
within credit limits assigned to each counterparty. Counterparty credit limits are
reviewed by the Group\u2019s Board of Directors on an annual basis, and may be
updated throughout the year. The limits are set to minimise the concentration of
risks and therefore mitigate financial loss through a counterparty\u2019s potential
failure to make payments.
Profit or loss is sensitive to higher/lower interest income from cash and cash
equivalents as a result of changes in interest rates.
Impact on profit or loss
\u20ac\u2019000
2025
2024
Interest rates - increase by 50 basis points
466
22
Interest rates - decrease by 50 basis points
(376)
(735)
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-371": { "value": "Liquidity risk
Prudent liquidity risk management implies maintaining sufficient cash and
marketable securities and the availability of funding through an adequate amount
of committed credit facilities to meet obligations when due. The Group monitors
its risk of a shortage of funds using a liquidity planning tool. See also the going
concern statement in Note 1. At the end of the reporting period Fastned held a
significant cash surplus safeguarding against liquidity risk.
The Group\u2019s objective is to realise its mission and therefore during the scale up
phase continuity of funding is required, while maintaining a balance between
debt and equity. The Group manages the liquidity risk by regularly issuing new
equity and through entering long-term debt agreements to ensure sufficient
liquidity and to repay debts as they fall due. Lastly, the Group is able to adjust the
building pace and reduce network expansion costs 16 in line with the available
liquidity if needed.
For contractural maturity of financial liabilities refer to Note 15.3, Note 20 and
Note 21.
Contracts referencing nature-dependent electricity
The Group has elected to early adopt the amendments to IFRS 7 and IFRS 9
regarding Contracts Referencing Nature-dependent Electricity effective
1\u00a0January 2025. These physical Power Purchase Agreements (PPAs) are
accounted for as executory contracts under the \u2018own-use\u2019 exception, as they
were entered into for the Group\u2019s expected usage requirements and not for
speculative purposes.
To secure a stable supply of renewable energy and manage price risk, Fastned
enters into physical PPAs with electricity producers. As of 31 December 2025, the
portfolio includes:
\u2022 Netherlands: Three solar PPAs and one wind PPA.
\u2022 Belgium: One solar PPA.
These contracts typically follow a \"pay-as-produced\" structure, requiring the
Group to purchase and take delivery of 90\u2013100% of the electricity generated.
Consequently, the Group is exposed to variability in delivery volumes due to
uncontrollable natural conditions (weather) and the risk of receiving electricity
during intervals of low charging demand. In certain Dutch contracts, the Group
receives SDE++ subsidies and maintains curtailment rights to mitigate grid and
volume exposure.
Refer to Note 3 for further details on the own-use assessment criteria. Refer to
the 'Commitments and Contingencies' note for disclosure of information
regarding the estimated future cash flows from these unrecognised PPA
commitments, categorised into appropriate time bands.
Based on the long-term nature of a PPA, it could become an onerous contract if
power prices decrease significantly. Onerous contracts are defined as contracts
in which the unavoidable costs of meeting the obligations under the contract
exceed the economic benefits expected to be received under it. The Group
assesses the risk of these contracts becoming onerous by annually inspecting
the forecasted electricity costs, which are based on third party information.
During the year, the company made purchases\u00a0 worth \u20ac 3.2 million under these
contracts. Of these purchases, \u20ac 69.4 thousand was unused and sold on the spot
market.
The table below summarises the maturity profile of the Group\u2019s liabilities based
on contractual undiscounted payments.
\u20ac\u2019000
On
demand
Less than 3
months
3-12
months
1-5
years
Total
Year ended 31 December 2025
Interest-bearing loans and borrowings
\u2014
\u2014
12,381
282,712
295,093
Interest on interest-bearing loans and borrowings
\u2014
3,997
11,990
42,858
58,845
Lease liabilities*
\u2014
\u2014
4,694
58,170
62,865
Trade and other payables
27,027
4,318
\u2014
\u2014
31,345
Total
27,027
8,315
29,065
383,740
448,147
Year ended 31 December 2024
Interest-bearing loans and borrowings
\u2014
\u2014
21,921
204,539
226,460
Interest on interest-bearing loans and borrowings
\u2014
2,788
9,041
19,644
31,473
Lease liabilities*
\u2014
\u2014
3,358
34,361
37,719
Trade and other payables
20,723
1,249
\u2014
\u2014
21,972
Total
20,723
4,037
34,320
258,544
317,624
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-372": { "value": "
The table below summarises the maturity profile of the Group\u2019s liabilities based
on contractual undiscounted payments.
\u20ac\u2019000
On
demand
Less than 3
months
3-12
months
1-5
years
Total
Year ended 31 December 2025
Interest-bearing loans and borrowings
\u2014
\u2014
12,381
282,712
295,093
Interest on interest-bearing loans and borrowings
\u2014
3,997
11,990
42,858
58,845
Lease liabilities*
\u2014
\u2014
4,694
58,170
62,865
Trade and other payables
27,027
4,318
\u2014
\u2014
31,345
Total
27,027
8,315
29,065
383,740
448,147
Year ended 31 December 2024
Interest-bearing loans and borrowings
\u2014
\u2014
21,921
204,539
226,460
Interest on interest-bearing loans and borrowings
\u2014
2,788
9,041
19,644
31,473
Lease liabilities*
\u2014
\u2014
3,358
34,361
37,719
Trade and other payables
20,723
1,249
\u2014
\u2014
21,972
Total
20,723
4,037
34,320
258,544
317,624
Trade and other payables
\u20ac\u2019000
31 December
2025
31 December
2024
Trade payables
9,759
7,223
Taxes and social securities
2,413
1,396
Interest accrued
1,960
1,257
Other payables
17,214
12,096
Total trade and other payables
31,345
21,972
Trade payables include mainly construction related payables. Other payables
include accruals for payroll related expenses, energy related and construction
obligations. The 'Other payables' amount also includes an amount of \u20ac 1.7 million
relating to finance lease accruals included in 'Receipts (repayments) of advances
made to other parties'\u00a0 in the Consolidated statement of cash flows.
Terms and conditions of the above liabilities:
\u2022 Trade payables are non-interest bearing and are normally settled on 30-day
terms
\u2022 Other payables are non-interest bearing and have a term of one month to six
months
\u2022 Please refer to Note 15.6 for the maturity profile of the liabilities.
For explanations on the Group\u2019s credit risk management processes, refer to
Note\u00a015.6.
Lease liabilities
\u20ac\u2019000
31 December
2025
31 December
2024
Maturity analysis:
Year 1
8,803
6,015
Year 2
8,561
5,879
Year 3
8,341
5,543
Year 4
6,709
5,217
Year 5
6,196
3,902
> 5 years
74,720
35,070
Total
113,331
61,625
Less: unearned interest
(50,467)
(23,907)
Total lease liabilities
62,864
37,719
Analysed as :
Current
4,694
3,358
Non-current
58,170
34,361
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-373": { "value": "Inventories
\u20ac\u2019000
31 December
2025
31 December
2024
restated
Inventories
Renewable energy units granted
5,869
4,417
Sites under construction for service
concession arrangement
3,542
\u2014
Total inventories
9,411
4,417
Inventories recognized as an expense during the year ended 31\u00a0December 2025
amounted to \u20ac13.2 million (2024:\u00a0 \u20ac3.9 million). These were included in cost of
sales. There were no inventory write-downs to net realizable value.
Other inventories include assets acquired for construction of the stations under
the German Highway Tender service arrangement for which construction has not
yet started.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-374": { "value": "Trade and other receivables and
prepayments
\u20ac\u2019000
31 December
2025
31 December
2024
restated
Trade receivables, net
28,457
15,581
Taxes and social securities
5,006
2,946
Prepayments
11,449
9,850
Other receivables
2,383
716
Total trade and other receivables
and prepayments
47,296
29,094
As at 31 December 2025, the provision for trade receivables amounted to \u20ac1.0
million\u00a0 (2024: \u20ac1.1 million).
During the year ended 31 December 2025, impairment losses recognised in profit
or loss on trade receivables arising from contracts with customers amounted to
\u20ac0.8 million (2024: \u20ac0.3 million).
Included in the 'Other receivables' is an amount of \u20ac 2.1 million (2024 \u20ac nil)
relating to amounts receivable from the German Regional and Highway
authorities relating to contract conditions of tenders which have not yet been
invoiced.
Included in the 'Prepayments' is an amount of \u20ac 2.3 million, which is included in
'Receipts (repayments) of advances made to other parties' in the Consolidated
statement of cash flows relating to transaction costs incurred for obtaining the
Green loan facility (see also 'Key events post reporting date').
As at 31 December 2025, the ageing analysis of trade receivables is, as follows:
\u20ac\u2019000
Total
Not past due
Days overdue
2025
< 30
30 \u2013 60
60-90
90-120
120-150
>150
Outstanding
29,499
27,123
1,137
128
17
322
75
697
Provision for impairment
(1,042)
(195)
(14)
(100)
(33)
(102)
(17)
(580)
Trade receivables
28,457
26,928
1,123
28
(16)
220
58
117
As at 31 December 2024, the ageing analysis of trade receivables is as follows:
\u20ac\u2019000
Total
Not past due
Days overdue
2024
< 30
30-90
91-120
120-180
180-365
>365
Outstanding
17,888
15,702
794
144
208
133
134
773
Provision for impairment
(1,105)
(502)
(116)
(49)
(38)
(46)
(50)
(304)
Trade receivables
16,782
15,199
678
95
170
87
84
469
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-375": { "value": "
\u20ac\u2019000
31 December
2025
31 December
2024
restated
Trade receivables, net
28,457
15,581
Taxes and social securities
5,006
2,946
Prepayments
11,449
9,850
Other receivables
2,383
716
Total trade and other receivables
and prepayments
47,296
29,094
Trade and other payables
\u20ac\u2019000
31 December
2025
31 December
2024
Trade payables
9,759
7,223
Taxes and social securities
2,413
1,396
Interest accrued
1,960
1,257
Other payables
17,214
12,096
Total trade and other payables
31,345
21,972
Trade payables include mainly construction related payables. Other payables
include accruals for payroll related expenses, energy related and construction
obligations. The 'Other payables' amount also includes an amount of \u20ac 1.7 million
relating to finance lease accruals included in 'Receipts (repayments) of advances
made to other parties'\u00a0 in the Consolidated statement of cash flows.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-376": { "value": "
As at 31 December 2025, the provision for trade receivables amounted to \u20ac1.0
million\u00a0 (2024: \u20ac1.1 million).
During the year ended 31 December 2025, impairment losses recognised in profit
or loss on trade receivables arising from contracts with customers amounted to
\u20ac0.8 million (2024: \u20ac0.3 million).
Included in the 'Other receivables' is an amount of \u20ac 2.1 million (2024 \u20ac nil)
relating to amounts receivable from the German Regional and Highway
authorities relating to contract conditions of tenders which have not yet been
invoiced.
Included in the 'Prepayments' is an amount of \u20ac 2.3 million, which is included in
'Receipts (repayments) of advances made to other parties' in the Consolidated
statement of cash flows relating to transaction costs incurred for obtaining the
Green loan facility (see also 'Key events post reporting date').
As at 31 December 2025, the ageing analysis of trade receivables is, as follows:
\u20ac\u2019000
Total
Not past due
Days overdue
2025
< 30
30 \u2013 60
60-90
90-120
120-150
>150
Outstanding
29,499
27,123
1,137
128
17
322
75
697
Provision for impairment
(1,042)
(195)
(14)
(100)
(33)
(102)
(17)
(580)
Trade receivables
28,457
26,928
1,123
28
(16)
220
58
117
As at 31 December 2024, the ageing analysis of trade receivables is as follows:
\u20ac\u2019000
Total
Not past due
Days overdue
2024
< 30
30-90
91-120
120-180
180-365
>365
Outstanding
17,888
15,702
794
144
208
133
134
773
Provision for impairment
(1,105)
(502)
(116)
(49)
(38)
(46)
(50)
(304)
Trade receivables
16,782
15,199
678
95
170
87
84
469
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-377": { "value": "
Included in the 'Other receivables' is an amount of \u20ac 2.1 million (2024 \u20ac nil)
relating to amounts receivable from the German Regional and Highway
authorities relating to contract conditions of tenders which have not yet been
invoiced.
Included in the 'Prepayments' is an amount of \u20ac 2.3 million, which is included in
'Receipts (repayments) of advances made to other parties' in the Consolidated
statement of cash flows relating to transaction costs incurred for obtaining the
Green loan facility (see also 'Key events post reporting date').", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-379": { "value": "Cash
\u20ac\u2019000
31 December
2025
31 December
2024
Cash at banks and on hand
69,918
117,416
Total cash and cash equivalents
69,918
117,416
Cash at banks earns, or is charged, interest at floating rates based on daily bank
deposit rates. Cash includes all cash-on-hand balances and credit card
receivables.
Cash at banks and on hand includes demand deposits nil million (2024: \u20ac105.0
million) with a maturity of three months or less.
Cash and cash equivalents are current account balances, mainly concentrated at
two banks under supervision of the Dutch Central Bank with an A or equivalent
long term rating.
Fastned B.V. has a bank guarantee facility amounting to \u20ac17 million at 31
December\u00a0 2025 (2024: \u20ac17.0 million), of which \u20ac15.9 million (2024: \u20ac15.0 million)
\"\"
have been drawn. \u20ac13.4 million expires at the end of 2029, \u20ac0.1 million between
2035 and 2040, and \u20ac2.4 million has an open\u2011ended term.
The bank guarantee facility is subject to financial covenants that require Fastned
B.V., as borrower, to maintain a minimum level of tangible equity and a minimum
ratio of tangible equity to total assets. Compliance with these covenants is
tested quarterly by management and forms part of the annual audit procedures
on Fastned B.V.\u2019s financial statements. As at 31 December 2025, Fastned B.V.
complied with all covenants related to this facility.
At 31 December 2025, the Group had no restricted cash balances (2024: nil).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-378": { "value": "Cash
\u20ac\u2019000
31 December
2025
31 December
2024
Cash at banks and on hand
69,918
117,416
Total cash and cash equivalents
69,918
117,416
Cash at banks earns, or is charged, interest at floating rates based on daily bank
deposit rates. Cash includes all cash-on-hand balances and credit card
receivables.
Cash at banks and on hand includes demand deposits nil million (2024: \u20ac105.0
million) with a maturity of three months or less.
Cash and cash equivalents are current account balances, mainly concentrated at
two banks under supervision of the Dutch Central Bank with an A or equivalent
long term rating.
Fastned B.V. has a bank guarantee facility amounting to \u20ac17 million at 31
December\u00a0 2025 (2024: \u20ac17.0 million), of which \u20ac15.9 million (2024: \u20ac15.0 million)
\"\"
have been drawn. \u20ac13.4 million expires at the end of 2029, \u20ac0.1 million between
2035 and 2040, and \u20ac2.4 million has an open\u2011ended term.
The bank guarantee facility is subject to financial covenants that require Fastned
B.V., as borrower, to maintain a minimum level of tangible equity and a minimum
ratio of tangible equity to total assets. Compliance with these covenants is
tested quarterly by management and forms part of the annual audit procedures
on Fastned B.V.\u2019s financial statements. As at 31 December 2025, Fastned B.V.
complied with all covenants related to this facility.
At 31 December 2025, the Group had no restricted cash balances (2024: nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-380": { "value": "
At 31 December 2025, the Group had no restricted cash balances (2024: nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-383": { "value": "Issued capital and reserves
Share capital
31 December
2025
31 December
2024
Quantity
Quantity
Issued and fully paid shares\u00a0 of \u20ac0.01 each
19,552,877
19,552,877
Outstanding shares of \u20ac0.01 each 17
19,599,236
19,468,440
Quantity
\u20ac\u2019000
At 1 January 2024
19,279,506
193
Issuance of shares
189,466
2
At 31 December 2024
19,468,972
195
Issuance of shares
130,264
1
At 31 December 2025
19,599,236
196
The shares do carry voting rights. Holders of the DR's do not have voting rights
and have the right to attend the General Meetings to speak at such meetings.
They also have the right to appoint the members of the board of FAST upon
nomination by the board of FAST. There are no shares issued and not fully paid.
During 2025 130,264 DRs were issued to employees and former employees
exercising options under Fastned option plans. Employee options for 197,876
DRs were outstanding as at 31 December 2025, see Note 24.
Share premium
\u20ac\u2019000
At 1 January 2024
247,172
Issuance of share capital (certificates)
1,910
Transaction costs for issued share capital (certificates)
\u2014
At 1 January 2025
249,082
Issuance of share capital (certificates)
1,384
Transaction costs for issued share capital (certificates)
\u2014
At 31 December 2025
250,465
Treasury shares
Quantity
\u20ac\u2019000
At 31 December 2024
135,100
16
Shares returned to Fastned
\u2014
\u2014
At 31 December 2025
135,100
16
To facilitate administration of the Employee share option scheme, a number of
shares may be issued in advance by FAST and DRs transferred to Fastned B.V.. As
at 31 December 2025 88.726 such DRs were held by Fastned B.V.. All other
reserves are as stated in the statement of changes in equity.
Retained earnings include the translation reserve. The translation reserve
comprises foreign currency differences arising from the translation of the assets
and liabilities of Fastned\u2019s foreign operations. Fastned considers this reserve to
qualify as a legal reserve. The amount included in retained earnings relating to the
translation reserve amounts to -\u20ac\u202f1 million (2024: -\u20ac\u202f1.8 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-382": { "value": "Issued capital and reserves
Share capital
31 December
2025
31 December
2024
Quantity
Quantity
Issued and fully paid shares\u00a0 of \u20ac0.01 each
19,552,877
19,552,877
Outstanding shares of \u20ac0.01 each 17
19,599,236
19,468,440
Quantity
\u20ac\u2019000
At 1 January 2024
19,279,506
193
Issuance of shares
189,466
2
At 31 December 2024
19,468,972
195
Issuance of shares
130,264
1
At 31 December 2025
19,599,236
196
The shares do carry voting rights. Holders of the DR's do not have voting rights
and have the right to attend the General Meetings to speak at such meetings.
They also have the right to appoint the members of the board of FAST upon
nomination by the board of FAST. There are no shares issued and not fully paid.
During 2025 130,264 DRs were issued to employees and former employees
exercising options under Fastned option plans. Employee options for 197,876
DRs were outstanding as at 31 December 2025, see Note 24.
Share premium
\u20ac\u2019000
At 1 January 2024
247,172
Issuance of share capital (certificates)
1,910
Transaction costs for issued share capital (certificates)
\u2014
At 1 January 2025
249,082
Issuance of share capital (certificates)
1,384
Transaction costs for issued share capital (certificates)
\u2014
At 31 December 2025
250,465
Treasury shares
Quantity
\u20ac\u2019000
At 31 December 2024
135,100
16
Shares returned to Fastned
\u2014
\u2014
At 31 December 2025
135,100
16
To facilitate administration of the Employee share option scheme, a number of
shares may be issued in advance by FAST and DRs transferred to Fastned B.V.. As
at 31 December 2025 88.726 such DRs were held by Fastned B.V.. All other
reserves are as stated in the statement of changes in equity.
Retained earnings include the translation reserve. The translation reserve
comprises foreign currency differences arising from the translation of the assets
and liabilities of Fastned\u2019s foreign operations. Fastned considers this reserve to
qualify as a legal reserve. The amount included in retained earnings relating to the
translation reserve amounts to -\u20ac\u202f1 million (2024: -\u20ac\u202f1.8 million).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-381": { "value": "Issued capital and reserves
Share capital
31 December
2025
31 December
2024
Quantity
Quantity
Issued and fully paid shares\u00a0 of \u20ac0.01 each
19,552,877
19,552,877
Outstanding shares of \u20ac0.01 each 17
19,599,236
19,468,440
Quantity
\u20ac\u2019000
At 1 January 2024
19,279,506
193
Issuance of shares
189,466
2
At 31 December 2024
19,468,972
195
Issuance of shares
130,264
1
At 31 December 2025
19,599,236
196
The shares do carry voting rights. Holders of the DR's do not have voting rights
and have the right to attend the General Meetings to speak at such meetings.
They also have the right to appoint the members of the board of FAST upon
nomination by the board of FAST. There are no shares issued and not fully paid.
During 2025 130,264 DRs were issued to employees and former employees
exercising options under Fastned option plans. Employee options for 197,876
DRs were outstanding as at 31 December 2025, see Note 24.
Share premium
\u20ac\u2019000
At 1 January 2024
247,172
Issuance of share capital (certificates)
1,910
Transaction costs for issued share capital (certificates)
\u2014
At 1 January 2025
249,082
Issuance of share capital (certificates)
1,384
Transaction costs for issued share capital (certificates)
\u2014
At 31 December 2025
250,465
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-384": { "value": "
Treasury shares
Quantity
\u20ac\u2019000
At 31 December 2024
135,100
16
Shares returned to Fastned
\u2014
\u2014
At 31 December 2025
135,100
16
To facilitate administration of the Employee share option scheme, a number of
shares may be issued in advance by FAST and DRs transferred to Fastned B.V.. As
at 31 December 2025 88.726 such DRs were held by Fastned B.V.. All other
reserves are as stated in the statement of changes in equity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-385": { "value": "
Retained earnings include the translation reserve. The translation reserve
comprises foreign currency differences arising from the translation of the assets
and liabilities of Fastned\u2019s foreign operations. Fastned considers this reserve to
qualify as a legal reserve. The amount included in retained earnings relating to the
translation reserve amounts to -\u20ac\u202f1 million (2024: -\u20ac\u202f1.8 million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-387": { "value": "Trade and other payables
\u20ac\u2019000
31 December
2025
31 December
2024
Trade payables
9,759
7,223
Taxes and social securities
2,413
1,396
Interest accrued
1,960
1,257
Other payables
17,214
12,096
Total trade and other payables
31,345
21,972
Trade payables include mainly construction related payables. Other payables
include accruals for payroll related expenses, energy related and construction
obligations. The 'Other payables' amount also includes an amount of \u20ac 1.7 million
relating to finance lease accruals included in 'Receipts (repayments) of advances
made to other parties'\u00a0 in the Consolidated statement of cash flows.
Terms and conditions of the above liabilities:
\u2022 Trade payables are non-interest bearing and are normally settled on 30-day
terms
\u2022 Other payables are non-interest bearing and have a term of one month to six
months
\u2022 Please refer to Note 15.6 for the maturity profile of the liabilities.
For explanations on the Group\u2019s credit risk management processes, refer to
Note\u00a015.6.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-386": { "value": "Trade and other payables
\u20ac\u2019000
31 December
2025
31 December
2024
Trade payables
9,759
7,223
Taxes and social securities
2,413
1,396
Interest accrued
1,960
1,257
Other payables
17,214
12,096
Total trade and other payables
31,345
21,972
Trade payables include mainly construction related payables. Other payables
include accruals for payroll related expenses, energy related and construction
obligations. The 'Other payables' amount also includes an amount of \u20ac 1.7 million
relating to finance lease accruals included in 'Receipts (repayments) of advances
made to other parties'\u00a0 in the Consolidated statement of cash flows.
Terms and conditions of the above liabilities:
\u2022 Trade payables are non-interest bearing and are normally settled on 30-day
terms
\u2022 Other payables are non-interest bearing and have a term of one month to six
months
\u2022 Please refer to Note 15.6 for the maturity profile of the liabilities.
For explanations on the Group\u2019s credit risk management processes, refer to
Note\u00a015.6.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-389": { "value": "Provisions
Provisions are recognised where a legal or constructive obligation exists at the
balance sheet date, as a result of a past event where the amount of the obligation
can be reliably estimated and where the outflow of economic benefit is
probable.
\u20ac\u2019000
31 December
2025
31 December
2024
Due within one year
\u2014
\u2014
Due after one year
20,309
17,615
Total provisions
20,309
17,615
The Group records provisions for the removal of the charging station as well as
shops and kiosks at the end of the concession period, and restoring the site to its
original state, if required in the agreement with the land owner(s).
Decommissioning provision
\u20ac\u2019000
1 January 2025
17,615
Additions
2,461
Use
\u2014
Unwinding of Interest
668
Revised estimates
(1,540)
Change in Estimate
1,104
31 December 2025
20,309
1 January 2024
13,316
Additions
2,532
Use
\u2014
Unwinding of Interest
375
Revised estimates
5,915
Change in Estimate
(4,523)
31 December 2024
17,615
Additions relate to new stations constructed during the year, as well as new
shops or kiosks built. Included in the \u2018change in estimates\u2019 for the
decommissioning provision is an adjustment resulting from more accurate data
obtained to decommission stations in selected countries. As a result, the
provision for decommissioning provision has increased by \u20ac 1.1 million as of
31\u00a0December 2025 (2024: decrease of \u20ac4.5 million). The remaining \u2018revised
estimates\u2019 relate to a change in discount rate, decreasing the provision by \u20ac 1.5
million.
In accordance with IFRIC 1, the net decrease of \u20ac0.4 million in the
decommissioning provision was recognized as a corresponding decrease in the
carrying amount of the related Property, Plant, and Equipment (PPE).
The prospective impact of these changes on the Group\u2019s future financial
performance is as follows:
\u2022 Depreciation expense: \u20ac103 thousand decrease due to the lower capitalized
asset base, amortized over the remaining average concession period of 11
years.
\u2022 Interest expense: \u20ac145 thousand increase in the annual unwinding of the
discount, as the effect of the higher discount rate outweighs the decrease in
the principal liability balance.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-388": { "value": "Provisions
Provisions are recognised where a legal or constructive obligation exists at the
balance sheet date, as a result of a past event where the amount of the obligation
can be reliably estimated and where the outflow of economic benefit is
probable.
\u20ac\u2019000
31 December
2025
31 December
2024
Due within one year
\u2014
\u2014
Due after one year
20,309
17,615
Total provisions
20,309
17,615
The Group records provisions for the removal of the charging station as well as
shops and kiosks at the end of the concession period, and restoring the site to its
original state, if required in the agreement with the land owner(s).
Decommissioning provision
\u20ac\u2019000
1 January 2025
17,615
Additions
2,461
Use
\u2014
Unwinding of Interest
668
Revised estimates
(1,540)
Change in Estimate
1,104
31 December 2025
20,309
1 January 2024
13,316
Additions
2,532
Use
\u2014
Unwinding of Interest
375
Revised estimates
5,915
Change in Estimate
(4,523)
31 December 2024
17,615
Additions relate to new stations constructed during the year, as well as new
shops or kiosks built. Included in the \u2018change in estimates\u2019 for the
decommissioning provision is an adjustment resulting from more accurate data
obtained to decommission stations in selected countries. As a result, the
provision for decommissioning provision has increased by \u20ac 1.1 million as of
31\u00a0December 2025 (2024: decrease of \u20ac4.5 million). The remaining \u2018revised
estimates\u2019 relate to a change in discount rate, decreasing the provision by \u20ac 1.5
million.
In accordance with IFRIC 1, the net decrease of \u20ac0.4 million in the
decommissioning provision was recognized as a corresponding decrease in the
carrying amount of the related Property, Plant, and Equipment (PPE).
The prospective impact of these changes on the Group\u2019s future financial
performance is as follows:
\u2022 Depreciation expense: \u20ac103 thousand decrease due to the lower capitalized
asset base, amortized over the remaining average concession period of 11
years.
\u2022 Interest expense: \u20ac145 thousand increase in the annual unwinding of the
discount, as the effect of the higher discount rate outweighs the decrease in
the principal liability balance.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-390": { "value": "Deferred revenues
Deferred revenues of \u20ac231,000 (2024: \u20ac236,000) relate to various pre-paid
long-term vouchers for supply of electricity to customers and the Fastned
Founders Club.
The Fastned Founders Club is a special group of investors that have all invested a
minimum of \u20ac25,000 (in primary issuance of certificates) in the issuance on NPEX
in 2014\u20132015, or, invested a minimum of \u20ac50,000 (in primary issuance of
certificates) in the issuance on Nxchange in 2016. On 31 December 2025, there
were 69 members in this Club. The members of the Fastned Founders Club have
the rights to charge for free at Fastned for the rest of their lives, as long as they
hold these Fastned certificates. In 2024, Fastned Founders have charged 88,161
kWh (2024: 71,779 kWh) for free. The value is determined at fair value based on the
sales price.
\u20ac\u2019000
2025
2024
At 1 January
236
234
Released to the statement of profit or loss
(5)
2
At 31 December
231
236
Current
\u2014
\u2014
Non-current
231
236
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-391": { "value": "Share-based payments
Movements during the year
The following table shows the number and weighted average exercise price
(WAEP) of, and movements in, employee options on certificates of shares during
the year:
2025
2024
Number
WAEP (\u20ac)
Number
WAEP (\u20ac)
Outstanding at 1 January
347,163
14.61
556,565
13.00
Granted during the year
\u2014
\u2014
\u2014
\u2014
Forfeited during the year
(8,330)
\u2014
(11,136)
\u2014
Exercised during the year
(130,264)
10.63
(189,466)
10.09
Expired during the year
(5,578)
\u2014
(8,800)
\u2014
Outstanding at 31\u00a0December
202,991
16.86
347,163
14.61
Exercisable at
31\u00a0December
198,069
17.29
342,241
14.82
Included in the table above are options granted to Victor van Dijk, director of
Fastned B.V., who held 4,543 options as at 31 December 2025 (2024: 14,105).
Of the options outstanding at 31 December 2025:
\u2022 111,483 are exercisable at prices per DR between \u20ac10-\u20ac15,
\u2022 9,843 are exercisable at prices per DR between \u20ac15-\u20ac20,
\u2022 31,424 are exercisable at prices per DR between \u20ac20-\u20ac25,
\u2022 39,829 are exercisable at prices per DR between \u20ac25-\u20ac30,
\u2022 5,490 are exercisable at prices per DR between \u20ac30-\u20ac35.
Additionally, 4,922 unvested options are outstanding at prices between
\u20ac33-\u20ac50.
Option plans
Prior to establishment of the present Option Plan on 17 May 2018 (\u201c2018 Option
Plan\u201d), Fastned B.V. had an employee option plan in place under which the
Company granted a total of 365,411 options to eligible employees (2015: 89,175,
2017: 113,345 and 2018: 162,891). As at 31 December 2025, 53,048 of these
options remained unexercised. These equity-settled options granted under the
previous Option Plan are subject to a three-year vesting period. Vested options
under the plan can be exercised during a period within five years following the
vesting date. Additionally, there is a clawback clause associated with the option
plan.
Under the 2018 Option Plan, ten milestones are defined, being a combination of
an operational goal and the market capitalisation of the Company which need to
be achieved at the same time:
\u2022 the market capitalisation has to be achieved for more than 30 consecutive
days; and
\u2022 the operational goals has to be achieved.
There are no vesting conditions. Each time a milestone is met, the Company will
allocate options for newly to be issued Depositary Receipts (\u201cDRs\u201d) to its
employees for a total of 1% of the then outstanding number of DRs. The
allocation of these options depends on the role and responsibilities of the
employee in the organisation. The allocation is also reviewed and approved by
the Management Board. The criteria for the granting of options will be
determined by the Supervisory Board if it concerns a Managing Director and by
the Management Board if it concerns other participants under the Option Plan.
The options are granted by way of an option agreement. In order to ensure that
every employee will participate in the potential value increase of the Company
for the part he or she has been contributing to, the exercise price per option was
equal to the average price of a DR on the relevant stock exchange during the 90
days before the start of the employment of the respective employee. The
determination of the exercise price has been adjusted during 2022. Employees
that are eligible for the first time (i.e. not participated in milestone 4), will have the
lower of either 1) the exercise price based on the 90 days average before the start
of the employment or 2) the exercise price based on a straight line method from
the exercise price of the last person who was eligible for options at the previous
milestone to the 90 day average of the stock price at the moment of the next
milestone. The exercise price can never be less than \u20ac10 per option. The options
under the Option Plan can be exercised within five years after the grant date.
There is no service commencement date recognised before the grant date. The
Management Board and the Supervisory Board have significant discretionary
rights in the execution of the policy. This is also explicitly incorporated in the
Fastned Option Policy. The Board can deviate from the policy on the specific
conditions, like the allocation of shares and the determination of the exercise
price. As a result, it is managements estimate that no legal or constructive
obligation is established prior to the grant date. This results in a 'point in time'
recognition at the grant date.
During the year, Fastned amended its employee option plan, resulting in changes
to both the exercise price and the contractual expiry of the options. Under the
revised plan, the exercise price of options is determined by reference to the year
in which an employee joined Fastned.
The amendment currently applies to the six performance milestones under the
option plan that had not yet been achieved at the date of modification.
Consequently, no share\u2011based payment expense had been recognised in prior
periods in respect of these milestones.
Management is still evaluating a potential retrospective adjustment of the
exercise price for outstanding options as at 31 December 2025. Such potential
retrospective change remains subject to further analysis and approval, and no
decision has been taken to date.
Milestone
Market
capitalisation (\u20ac)
Operational goal
Realised
1
> 150 million euro
> 100 stations operational
\u2611
2
> 200 million euro
> 1 million euro in revenues in
one calendar year
\u2611
3
> 300 million euro
> 250 stations operational
\u2611
4
> 400 million euro
> 150 kW charging at >50% of
our stations
\u2611
5
> 500 million euro
> Company profitable for
12\u00a0months in a row
6
> 600 million euro
> 500 stations operational
7
> 700 million euro
> 100 million euro in revenues in
one calendar year
8
> 800 million euro
> 30% EBITDA margin for
12\u00a0months in a row
9
> 900 million euro
> 300 kW charging at >50% of
our stations
10
> 1 billion euro
> 1,000 stations operational
Valuation of options
IFRS2 requires an entity to consider factors that knowledgeable, willing market
participants would consider in selecting the option pricing model to apply. For
example, many employee options have long lives, are usually exercisable during
the period between vesting date and the end of the options\u2019 life, and are often
exercised early. These factors should be considered when estimating the grant
date fair value of the options. For many entities, this might preclude the use of the
Black-Scholes-Merton formula, which does not allow for the possibility of
exercise before the end of the option\u2019s life and may not adequately reflect the
effects of expected early exercise. It also does not allow for the possibility that
expected volatility and other model inputs might vary over the option\u2019s life.
Based on expert advice from external consultants, management has valued
issued options using the Hull-White option valuation model which allows for the
fact that employees tend to exercise options during the exercise period \u2013 i.e.
after vesting, but prior to the expiration date for such options.
The cost of the options included in the income statement are as follows:
\u20ac\u2019000
2025
2024
Options granted
28
24
Capitalised part of options granted
\u2014
\u2014
Total expense included in
administrative expenses
28
24
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-393": { "value": "Commitments and
contingencies
Commitments
At 31 December 2025, the Group had initiated the construction of several fast
charging stations, these will be realised in the first half of 2026. Fastned usually
partly prepays orders placed with suppliers and the larger part of these
prepayments are already capitalised in the balance sheet. The outstanding
commitment at 31 December 2025 amounted to approximately \u20ac34.5 million
(2024: \u20ac35.26 million).
The Group has energy purchase commitments of \u20ac 64.7 million under Power
Purchase Agreements relating to 2025 and later years. Of this amount, \u20ac 4.7
million is due within one year, \u20ac 21.5 million is due between one and five years, and
\u20ac 38.5 million is due after five years. These commitments are based on current
estimates and may be subject to variation due to changes in energy market
conditions and weather-related factors.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-392": { "value": "Commitments and
contingencies
Commitments
At 31 December 2025, the Group had initiated the construction of several fast
charging stations, these will be realised in the first half of 2026. Fastned usually
partly prepays orders placed with suppliers and the larger part of these
prepayments are already capitalised in the balance sheet. The outstanding
commitment at 31 December 2025 amounted to approximately \u20ac34.5 million
(2024: \u20ac35.26 million).
The Group has energy purchase commitments of \u20ac 64.7 million under Power
Purchase Agreements relating to 2025 and later years. Of this amount, \u20ac 4.7
million is due within one year, \u20ac 21.5 million is due between one and five years, and
\u20ac 38.5 million is due after five years. These commitments are based on current
estimates and may be subject to variation due to changes in energy market
conditions and weather-related factors.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-394": { "value": "Related party disclosures
Compensation of key management personnel of the Group
Key management personnel are those persons having authority and
responsibility for planning, directing and controlling the activities of the Group as
a whole. The Group considers all members of the Management Board, FAST
Board and the Supervisory Board to be key management personnel as defined in
IAS 24 \u201cRelated parties.\u201d
The total remuneration package for key management personnel may consist of
the following components:
a) Fixed part - Base salary and holiday allowance;
b) Long-term incentive - share options;
c) Pension benefits;
d) Other benefits.
The pension benefit is a defined contribution scheme. Other benefits include
lease cars.
Remuneration of the Management Board
Short term employee benefits
2025
\u20ac\u2019000
Base Salary
Other benefits
Pension benefits
Share Options
Total
remuneration
M. Langezaal
120
16
\u2014
\u2014
136
V. van Dijk
175
9
16
\u2014
201
F. Poggi
171
14
20
\u2014
205
Total
467
39
36
\u2014
542
Short term employee benefits
2024
\u20ac\u2019000
Base Salary
Other benefits
Pension benefits
Share Options
Total
remuneration
M. Langezaal
116
13
\u2014
\u2014
129
V. van Dijk
164
7
16
\u2014
187
F. Poggi*
38
2
5
\u2014
45
Total
318
22
21
\u2014
361
* Fran\u00e7oise Poggi was appointed as Group Chief Operating Officer on 29 November 2024.
Remuneration of the FAST Board
The remuneration and contractual terms of employment of FAST Board members
are determined by the general meeting of depository receipt holders. Apart from
their remuneration, FAST Board members shall be reimbursed for all reasonable
costs incurred with the consent of the chairperson of the FAST Board, or, with
respect to the Chairperson, incurred with the consent of the Chairman of the
Supervisory Board.
\u20ac\u2019000
2025
2024
Maaike Veen
17
17
Henk Pals
12
11
Michiel Weghs
9
11
Niels Korthals Altes
7
\u2014
Total
45
39
Niels Korthals Altes was appointed as a member of the FAST Board per June
2025. Michiel Weghs resigned per October 2025.\u00a0
In addition, Niels was contracted to support the process to close the green loan
facility. Total services provided in 2025 sum up to \u20ac 65 thousand.\u00a0
Remuneration of Supervisory Board
The General Meeting determines the remuneration of the Supervisory Directors.
The Supervisory Directors are entitled to a fixed annual fee as determined by the
General Meeting taking into account the time to be spent by such Supervisory
Directors. No additional fees are due for their membership of the Audit
Committee. The total compensation for each Supervisory Director for the
financial year ending on 31 December 2025 was as follows:
2025
2024
\u20ac\u2019000
Short term employee benefits
Short term employee benefits
Basic salary
Other benefits
Total
remuneration
Basic salary
Other benefits
Total
remuneration
Liselotte Kooi
51
\u2014
51
50
\u2014
50
Bart Lubbers
40
\u2014
40
38
\u2014
38
Nancy Kabalt
40
\u2014
40
38
\u2014
38
J\u00e9r\u00f4me Janssen
\u2014
8
8
\u2014
8
8
Total
131
8
139
126
8
134
In 2022, J\u00e9r\u00f4me Janssen was appointed member of the Supervisory Board. He
does not receive a remuneration. He is compensated for travel expenses with a
maximum of \u20ac7.5 thousand.
In 2025, the total remuneration for all management board amounts to \u20ac542
thousand (2024: \u20ac361 thousand) , FAST Board amounts to \u20ac45 thousand (2024:
\u20ac39 thousand) and supervisory board member amounts to \u20ac136 thousand (2024:
\u20ac134 thousand).
The amounts disclosed in the table are the amounts recognised as an expense
during the reporting period related to key management personnel.
Included in the total remuneration of the Supervisory- and FAST Board is an
amount of \u20ac44 thousand which remains unpaid at the end of 2025. The Group has
made no other commitments with regards to remuneration of the Management,
Supervisory and FAST Board in 2025.
Some family members of key management personnel are members of the
Founders Cub. In 2025, a total of 357 kWh (2024: 434 kWh) were charged for free
by these family members. See Note 23
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-395": { "value": "
Compensation of key management personnel of the Group
Key management personnel are those persons having authority and
responsibility for planning, directing and controlling the activities of the Group as
a whole. The Group considers all members of the Management Board, FAST
Board and the Supervisory Board to be key management personnel as defined in
IAS 24 \u201cRelated parties.\u201d
The total remuneration package for key management personnel may consist of
the following components:
a) Fixed part - Base salary and holiday allowance;
b) Long-term incentive - share options;
c) Pension benefits;
d) Other benefits.
The pension benefit is a defined contribution scheme. Other benefits include
lease cars.
Remuneration of the Management Board
Short term employee benefits
2025
\u20ac\u2019000
Base Salary
Other benefits
Pension benefits
Share Options
Total
remuneration
M. Langezaal
120
16
\u2014
\u2014
136
V. van Dijk
175
9
16
\u2014
201
F. Poggi
171
14
20
\u2014
205
Total
467
39
36
\u2014
542
Short term employee benefits
2024
\u20ac\u2019000
Base Salary
Other benefits
Pension benefits
Share Options
Total
remuneration
M. Langezaal
116
13
\u2014
\u2014
129
V. van Dijk
164
7
16
\u2014
187
F. Poggi*
38
2
5
\u2014
45
Total
318
22
21
\u2014
361
* Fran\u00e7oise Poggi was appointed as Group Chief Operating Officer on 29 November 2024.
Remuneration of the FAST Board
The remuneration and contractual terms of employment of FAST Board members
are determined by the general meeting of depository receipt holders. Apart from
their remuneration, FAST Board members shall be reimbursed for all reasonable
costs incurred with the consent of the chairperson of the FAST Board, or, with
respect to the Chairperson, incurred with the consent of the Chairman of the
Supervisory Board.
\u20ac\u2019000
2025
2024
Maaike Veen
17
17
Henk Pals
12
11
Michiel Weghs
9
11
Niels Korthals Altes
7
\u2014
Total
45
39
Niels Korthals Altes was appointed as a member of the FAST Board per June
2025. Michiel Weghs resigned per October 2025.\u00a0
In addition, Niels was contracted to support the process to close the green loan
facility. Total services provided in 2025 sum up to \u20ac 65 thousand.\u00a0
Remuneration of Supervisory Board
The General Meeting determines the remuneration of the Supervisory Directors.
The Supervisory Directors are entitled to a fixed annual fee as determined by the
General Meeting taking into account the time to be spent by such Supervisory
Directors. No additional fees are due for their membership of the Audit
Committee. The total compensation for each Supervisory Director for the
financial year ending on 31 December 2025 was as follows:
2025
2024
\u20ac\u2019000
Short term employee benefits
Short term employee benefits
Basic salary
Other benefits
Total
remuneration
Basic salary
Other benefits
Total
remuneration
Liselotte Kooi
51
\u2014
51
50
\u2014
50
Bart Lubbers
40
\u2014
40
38
\u2014
38
Nancy Kabalt
40
\u2014
40
38
\u2014
38
J\u00e9r\u00f4me Janssen
\u2014
8
8
\u2014
8
8
Total
131
8
139
126
8
134
In 2022, J\u00e9r\u00f4me Janssen was appointed member of the Supervisory Board. He
does not receive a remuneration. He is compensated for travel expenses with a
maximum of \u20ac7.5 thousand.
In 2025, the total remuneration for all management board amounts to \u20ac542
thousand (2024: \u20ac361 thousand) , FAST Board amounts to \u20ac45 thousand (2024:
\u20ac39 thousand) and supervisory board member amounts to \u20ac136 thousand (2024:
\u20ac134 thousand).
The amounts disclosed in the table are the amounts recognised as an expense
during the reporting period related to key management personnel.
Included in the total remuneration of the Supervisory- and FAST Board is an
amount of \u20ac44 thousand which remains unpaid at the end of 2025. The Group has
made no other commitments with regards to remuneration of the Management,
Supervisory and FAST Board in 2025.
Some family members of key management personnel are members of the
Founders Cub. In 2025, a total of 357 kWh (2024: 434 kWh) were charged for free
by these family members. See Note 23
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-396": { "value": "
Key management personnel are those persons having authority and
responsibility for planning, directing and controlling the activities of the Group as
a whole. The Group considers all members of the Management Board, FAST
Board and the Supervisory Board to be key management personnel as defined in
IAS 24 \u201cRelated parties.\u201d
The total remuneration package for key management personnel may consist of
the following components:
a) Fixed part - Base salary and holiday allowance;
b) Long-term incentive - share options;
c) Pension benefits;
d) Other benefits.
The pension benefit is a defined contribution scheme. Other benefits include
lease cars.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-397": { "value": "Remuneration of auditors
This note includes all fees agreed to be paid to the Group\u2019s auditors whether in
relation to their audit of the Group or otherwise.
Group auditor for 2025 is BDO Audit & Assurance B.V. ( 2024: BDO Audit &
Assurance B.V. ).
\u20ac\u2019000
2025
2024
Fees payable to the Group\u2019s auditor for the
audit of the consolidated parent company
accounts and subsidiaries accounts of
Fastned B.V.
387
326
Non-audit and other assurance services
36
32
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f-398": { "value": "Key events post reporting date
Green loan facility
At the end of January 2026, Fastned entered into a \u20ac100 million limited\u2011recourse
senior secured facilities agreement (the \u201cTICO Financing\u201d) to finance the
development of charging stations in Belgium and Switzerland.
The five\u2011year term facilities, which can be drawn in EUR and CHF, consist of a mix
of floating\u2011rate and fixed\u2011rate tranches with interest based on interbank
reference rates plus a margin. The majority of the floating\u2011rate exposure is
hedged to achieve a substantially fixed all\u2011in cost. The facilities are secured by a
package of security, including pledges over the shares in the TICO Group,
material receivables and bank accounts and contain customary representations,
undertakings and financial covenants, including leverage and interest cover tests
and restrictions on additional indebtedness and distributions.
The agreement also permits additional incremental facilities of up to \u20ac100 million
in aggregate, subject to specified conditions. The establishment and utilisation
of any such incremental facility are subject to lender approval and customary
conditions, including the absence of any Default, compliance with the applicable
financial covenant framework, the delivery of an updated financial model, and
satisfaction of agreed conditions precedent.
Issuance of shares
Fastned B.V. issued 200,000 new shares with a nominal value of \u20ac0.01 on 10
February 2026. Total issued shares amount to 19,752,877.
Unsecured bonds
In February 2026, Fastned raised \u20ac 30.1 million through issue of corporate bonds,
and in addition, investors extended \u20ac 2.3 million from earlier bonds issues.
Interest on this bond is 6% per annum, payable quarterly in arrears.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:7245000V8JJ8CE1L8G60", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }