v3.26.1
Finance income and costs
 12 Months Ended
Dec. 31, 2025
Finance income and costs [Abstract]  
Finance income and costs
Note 8—Finance income and costs
 
€ million
   
2025
     
2024
     
2023
  
Finance income
  
  
  
Interest income
1
  
 
91
 
      127        51  
Interest income: Reversal of withholding tax interest provision
   
 
45
 
   
 
— 
 
      —   
Interest income: Swap transactions
   
 
24
 
   
 
— 
 
      —   
Finance lease income
   
 
— 
 
      5        —   
Net foreign exchange gains
2
  
 
— 
 
      4        13  
  
 
 
     
 
 
     
 
 
  
Total
   
 
160
 
      136        64  
  
 
 
     
 
 
 
   
 
 
  
 
€ million
  
2025
 
  
2024
 
  
2023
 
Finance costs
  
  
  
Interest expense on borrowings (excluding amounts capitalised)
   
 
(178
)
      (104 )       (86 ) 
Interest expense: Swap transactions
   
 
(33
) 
   
 
— 
 
      —   
Interest expense on lease liabilities
   
 
(19
) 
   
 
(2
) 
      (2 ) 
Interest expense on revenue recognition
   
 
(16
) 
   
 
(8
) 
      (7 ) 
Other finance costs
   
 
(16
)
      (15 )      (8 )
Amortisation of loan origination costs
   
 
(12
)
      (10 )       (3 ) 
Net foreign exchange losses
2
   
 
(58
) 
   
 
— 
 
      —   
  
 
 
     
 
 
     
 
 
  
Total
   
 
(332
)
      (139 )       (106 ) 
  
 
 
     
 
 
     
 
 
  
 
1
Mainly interest income on term deposits and money market funds
2
Net foreign exchange gains / losses are mostly related to revaluation of bank accounts, deposits, intercompany balances and other monetary items denominated in US dollars. 2025 net foreign exchange losses include an amount of EUR 36 million related to cumulative translation impact reclassified to the consolidated income statement on the liquidation of foreign subsidiaries.