v3.26.1
Income taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax [Abstract]  
Disclosure of current and deferred income tax charge
Taxes on income comprise the taxes paid or owed in the individual countries, as well as deferred taxes. Current and deferred taxes can be analysed as follows:
 
€ million
  
2025
 
  
2024
 
  
2023
 
Current income tax
        
Current income tax charge on result of the year
  
 
127
 
     (55      (567
Adjustments in respect of prior periods
  
 
(4
)
     (6      6  
Foreign withholding taxes
  
 
(1
)
     (9      (8
  
 
 
    
 
 
    
 
 
 
Total current income tax
  
 
122
 
     (70      (569
Deferred income tax
        
Relating to origination and reversal of temporary differences
  
 
(69
)
     37        249  
Relating to tax losses carried forward
  
 
(13
)
     0        340  
Changes in tax rate
  
 
0
 
     (21      (1
Adjustment of prior years
  
 
(18
)
     (1      (195
  
 
 
    
 
 
    
 
 
 
Total deferred income tax
  
 
(101
)
     15        393  
Income tax expense per consolidated income statement
  
 
21
 
     (55      (176
Consolidated statement of changes in equity
        
Current and Deferred Income tax related to items (charged) or credited directly in equity
        
Post-employment benefit obligation
     4        1        — 
 
Impact of currency translation
    
23
 
     (12      11
 
Net investment hedge – current tax
    
(8
)
     4        (6 )
 
Cash flow hedge – current tax
    
6
 
  
 
— 
 
  
 
— 
 
Fair value hedge – current tax
    
3
 
  
 
— 
 
  
 
— 
 
Income tax relating to treasury shares impairment expense or reversal
    
(19
     20        — 
 
Tax impact on Perpetual Bond
    
4
       6        14
 
  
 
 
    
 
 
    
 
 
 
Current and deferred income taxes reported in equity
    
13
       19        19
 
Disclosure of reconciliation between the income tax benefit expense
€ million
  
2025
 
  
2024
 
  
2023
 
Profit / (loss) before tax
  
 
(115
)
     82        (728
Multiplied by theoretical tax rate
  
 
30
 
     (22      198  
Effect of different foreign tax rates
  
 
(8
)
     8        (8
Tax exempt Income
  
 
2
 
     5        —   
Non-deductible
expenditures
  
 
(15
)
     (6      (2
Taxes related to prior years
  
 
(8
)
     (7      6  
Effect of changes in tax rate
  
 
0
 
     (21      —   
Other changes in group tax provision not included in separate lines
  
 
38
 
     —         (3
Impairment on investments in subsidiaries and other assets
  
 
17



7
     (167
Impact of deferred taxes
  
 
(24
)
     (8      (193
Foreign withholding taxes
  
 
(2
)
     (9      (8
Foreign exchange impact and other
  
 
(9
)
 
     (2      1  
  
 
 
    
 
 
    
 
 
 
Income tax reported in the consolidated income statement
  
 
21
 
     (55      (176