v3.26.1
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Disclosure Of Leases [Abstract]  
Schedule of maturity analysis of finance lease payments receivable
 
€million
  
2025
 
  
2024
 
  
2023
 
Amounts receivable under finance leases:
  
  
  
Year 1
     4        1  
 

— 
 
Year 2
     4        1  
 
 
— 
 
Year 3
     4        1  
 
 
— 
 
Year 4
     4        1  
 
 
— 
 
Year 5
     2        1  
 
 
— 
 
Onwards
     3        —   
 
 
— 
 
  
 
 
    
 
 
    
 
 
 
Undiscounted lease payments
  
 
21
 
  
 
5
 
 
 
— 
 
Unguaranteed residual value
     2        —   
 
 
— 
 
Less: unearned finance income
     (4 )      —   
 
 
— 
 
  
 
 
    
 
 
    
 
 
 
Present value of lease payments receivable
  
 
19
 
  
 
5
 
 
 
— 
 
Impairment loss allowance
     —         —   
 
 
— 
 
  
 
 
    
 
 
    
 
 
 
Net investment in finance leases
  
 
19
 
  
 
5
 
 
 
— 
 
Net investment in finance leases analysed as:
     
 
 
 
 
Recoverable after 12 months
    
16
       4  
 
 
— 
 
Recoverable within 12 months
    
3
       1  
 
 
— 
 
Schedule of amounts recognised in the consolidated income statement explanatory
 
€million
 
2025
 
 
2024
 
 
2023
 
Selling gain/(loss) for finance leases
     (1 )      5  
 
 
— 
 
Finance income on the net investment in finance leases (see Note 8)
     1        —   
 
 
— 
 
Schedule of quantitative information about right-of-use assets
The Group leases office buildings, third-party transponders, ground segment assets and other fixtures and fittings, tools and equipment as set out below.
 
€million
   Buildings      Transponders
(included
within Space
Segment)
     Ground
segment
     Other fixtures
and fittings,
tools and
equipment
     31 December
2025
 
Right-of-use
assets
              
Cost
     110        455        153        2        720  
Accumulated depreciation
     (16 )
 
     (32 )
 
     (25 )
 
     (1      (74 )
 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total
  
 
94
 
  
 
423
 
  
 
128
 
  
 
1
 
  
 
646
 
 
€million
   Buildings      Transponders
(included
within Space
Segment)
     Ground
segment
     Other fixtures
and fittings,
tools and
equipment
     31 December
2024
 
Right-of-use
assets
              
Cost
     32        27        25        2        86  
Accumulated depreciation
     (15      (10      (10      (1      (36
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total
  
 
17
 
  
 
17
 
  
 
15
 
  
 
1
 
  
 
50
 
Schedule of maturity analysis for non-derivative financial liabilities
 
million
  
2025
    
2024
 
Maturity analysis—contractual undiscounted cash flows
     
Within one year
     110        19  
After one year but not more than five years
     412        28  
More than five years
     270        8  
  
 
 
    
 
 
 
Total
  
 
792
 
  
 
55
 
  
 
 
    
 
 
 
Lease liabilities included in the statement of financial position at 31 December
     
Current
     76        19  
Non-current
     559        32  
  
 
 
    
 
 
 
Total
  
 
635
 
  
 
51
 
  
 
 
    
 
 
 
Schedule of depreciation charge and finance cost of right-of-use assets explanatory
Depreciation charge of
right-of-use
assets:
 
€million
  
2025
    
2024
    
2023
 
Buildings
  
 
12
       5        6  
Space segment)
  
 
33
       15        9  
Ground segment
  
 
16
       4        3  
Other fixtures and fittings, tools and equipment
  
 
1
       1        1  
  
 
 
    
 
 
    
 
 
 
Total
  
 
62
 
  
 
25
 
  
 
19
 
  
 
 
    
 
 
    
 
 
 
Finance cost:
 
€million
  
2025
    
2024
    
2023
 
Interest expense
     19        2        2  
  
 
 
    
 
 
    
 
 
 
Total
  
 
 19
 
  
 
 2
 
  
 
 2