5.7 Notes on the income statement
[14] Drinking water revenue
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Supply of drinking water | 408,7 | 324,7 |
| Fixed fee | 167,1 | 163,1 |
| Total | 575,9 | 487,8 |
The above drinking water turnover is generated in the Netherlands and is realised from 1 segment (the entire supply area of Vitens). The annual bill for an average customer (small consumer) increased to €166.80 (excluding taxes) in 2025, compared with 2024 (€145.50 excluding taxes). This represents a tariff increase of approximately 15%. The amounts are based on a model customer consuming 100 m³ per year.
[15] Other revenue
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Revenue from third-party services | 9,7 | 9,9 |
| Revenue from fire hydrants and sprinklers | 10,1 | 9,3 |
| Revenue from connections | 10,4 | 8,6 |
| Depreciation equalisation account | 7,1 | 6,2 |
| Revenue from analysis and consultancy | 5,5 | 5,5 |
| Revenue from relocation and collection | 1,9 | 2,2 |
| Revenue from rental and lease | 1,5 | 1,5 |
| Revenue from residuals | 1,4 | 1,3 |
| Revenue from standpipes rental fee | 0,9 | 1,0 |
| Revenue from work for third parties | 0,4 | 1,0 |
| Other revenue | 2,7 | 2,9 |
| Total | 51,6 | 49,4 |
Total other revenue is higher than in the previous year (for product descriptions, see note [5.5] ‘other revenue’) Revenue from fire hydrants, sprinklers and service connections has increased as a result of tariff increases. The depreciation and equalisation account is higher due to the inclusion of revenue from new service pipes; see note [9].
[16] Staff costs
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Salaries | 122,0 | 111,0 |
| Social charges | 16,8 | 14,8 |
| Contributions paid to group plans treated as defined-contribution plans | 15,1 | 13,7 |
| Less: capitalised production | -18,3 | -18,3 |
| Subtotal | 135,7 | 121,2 |
| Anniversary provision | 0,1 | 0,1 |
| Total | 135,7 | 121,3 |
Staff costs have increased, mainly due to the collective labour agreement increase from 1 January 2024 and 1 July 2025. In addition, the number of FTEs grew during the year, which also caused an increase in staff costs.
Capitalised own production includes own personnel costs serving the manufacture of tangible and intangible fixed assets relating to infrastructure works (including production plants and pipework) of Vitens. This mainly concerns direct personnel costs and amounts to €18.3 million over 2025 (2024: €18.3 million).
Capitalised own production includes own personnel costs serving the manufacture of tangible and intangible fixed assets relating to infrastructure works (including production plants and pipework) of Vitens. This mainly concerns direct personnel costs and amounts to €18.3 million over 2025 (2024: €18.3 million).
| Number of employees as of 31 December | 2025 | 2024 |
|---|---|---|
| Number of permanent staff | 1.910 | 1.762 |
| Number of permanent full-time equivalents | 1.761 | 1.638 |
The number of FTEs is projected to reach 1,761 in 2025 (2024: 1,638), with all Vitens employees working in the Netherlands. In 2025, the average number of employees was 1,836 (2024: 1,699).
[17] Cost of outsourced work and hired staff
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Work outsourced | 53,1 | 54,7 |
| Third-party personnel hired | 33,6 | 27,7 |
| Less: capitalised production | -14,5 | -17,1 |
| Total | 72,2 | 65,3 |
The total balance for outsourced work and hired-in staff is higher than in the previous year. This is mainly caused by higher hourly rates from external parties and indexations of contract prices, including from contractors.
Capitalised production for own use includes the company’s own operating costs incurred in the production of tangible and intangible fixed assets relating to infrastructure works (including, amongst others, production plants and pipelines) of the company. Over 2025, this amounts to €14.5 million (2024: €17.1 million). The decrease is mainly caused by a decrease in the number of hours spent on the SAP implementation.
Capitalised production for own use includes the company’s own operating costs incurred in the production of tangible and intangible fixed assets relating to infrastructure works (including, amongst others, production plants and pipelines) of the company. Over 2025, this amounts to €14.5 million (2024: €17.1 million). The decrease is mainly caused by a decrease in the number of hours spent on the SAP implementation.
[18] Other costs
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Electricity | 29,3 | 31,9 |
| Facility costs | 33,6 | 27,0 |
| Automation costs | 23,6 | 23,3 |
| Raw and auxiliary materials | 17,8 | 16,8 |
| Taxes, benefits and insurance | 13,8 | 12,9 |
| Other personnel costs | 8,6 | 7,7 |
| Car costs | 6,0 | 6,1 |
| Groundwater taxes and charges | 5,8 | 5,7 |
| Purchasing water | 4,9 | 4,9 |
| Removal costs | 3,3 | 2,4 |
| Telecom costs | 1,4 | 1,6 |
| Other costs | 9,1 | 10,4 |
| Total | 157,4 | 150,7 |
Energy costs include costs for electricity, gas, and other fuels. Costs are lower due to lower energy prices compared to last year. Vitens' policy is to fix energy tariffs over three years, so that the tariffs are fixed at the start of the new year.
Facilities costs largely relate to the maintenance of installations, office buildings, and sites. Plant, building and land maintenance costs for 2025 amount to €33.6 million (2024: €27.0 million).
Automation costs include software licence fees and management/optimisation work. Costs are higher than last year due to inflation.
Raw materials and consumables are €17.8 million (2024: €16.8 million). This is mainly due to higher cost chemicals due to rising prices.
Other personnel costs largely relate to travel, accommodation and training costs. The increase is mainly caused by higher training costs compared to the previous year.
Car costs relate to fleet service costs, fuel and other car costs and amount to €6.0 million over 2025 (2024: €6.1 million).
Taxes, benefits and insurance expenses consist primarily of drought-damage costs and various taxes and charges.
Other expenses include, among other things, costs relating to subscriptions and contributions, representation expenses, and allocations to the provision for doubtful debts. This allocation to the provision for doubtful debts has fallen sharply compared with the previous year (€1.0 mln lower).
Facilities costs largely relate to the maintenance of installations, office buildings, and sites. Plant, building and land maintenance costs for 2025 amount to €33.6 million (2024: €27.0 million).
Automation costs include software licence fees and management/optimisation work. Costs are higher than last year due to inflation.
Raw materials and consumables are €17.8 million (2024: €16.8 million). This is mainly due to higher cost chemicals due to rising prices.
Other personnel costs largely relate to travel, accommodation and training costs. The increase is mainly caused by higher training costs compared to the previous year.
Car costs relate to fleet service costs, fuel and other car costs and amount to €6.0 million over 2025 (2024: €6.1 million).
Taxes, benefits and insurance expenses consist primarily of drought-damage costs and various taxes and charges.
Other expenses include, among other things, costs relating to subscriptions and contributions, representation expenses, and allocations to the provision for doubtful debts. This allocation to the provision for doubtful debts has fallen sharply compared with the previous year (€1.0 mln lower).
[19] Depreciation, fair value changes and impairment losses on tangible and intangible fixed assets
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Depreciation of property, plant and equipment | 103,9 | 99,0 |
| Depreciation of intangible assets | 13,7 | 10,3 |
| Depreciation of charges from Facturatie B.V. | 3,5 | 3,0 |
| Book profit on divestments | 3,4 | 7,9 |
| Depreciation IFRS 16 | 7,8 | 6,6 |
| Fair value changes | -0,1 | 0,2 |
| Total | 132,3 | 127,0 |
Depreciation costs have risen compared with the previous year, mainly due to the increase in capital expenditure.
[20] Financial income and expenses
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Interest costs on bullet and linear money loans | 30,5 | 25,3 |
| Interest costs on roll-over money loans | 4,6 | 10,1 |
| Interest costs on short-term loans | 0,9 | 1,4 |
| Interest costs on derivatives | 2,6 | 1,2 |
| Interest costs on drought damage | 0,3 | 0,7 |
| Interest costs on current account | 0,5 | 1,0 |
| Interest costs on leases | 0,6 | 0,5 |
| Interest allocation on provisions | 0,4 | 0,3 |
| Interest costs recharged to investment projects (IAS 23) | -4,2 | -2,5 |
| Other costs of loans | 0,5 | 0,1 |
| Total | 36,6 | 37,9 |
| Interest income | -0,0 | -0,0 |
| Total interest income and expenses | 36,6 | 37,9 |
[21] Share of profit in associates and joint ventures
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Profit of associates and joint ventures | 0,0 | 0,1 |
[22] Corporation tax
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Profit before tax | 90,6 | 34,5 |
| Profit from non-taxable activities | 85,3 | -31,7 |
| Taxable profit | 5,3 | 2,8 |
| Corporation tax | 2,5 | 0,6 |
Corporation tax was calculated based on the applicable tax rate in the Netherlands (2025: 25.8%; 2024: 25.8%). In 2012, a €1.1 mln adjustment relating to prior years was made because ‘other water’ was definitively classified as a taxable activity. The effective tax rate (incl. corrections) on the profit before corporation tax amounts to 2.7%.
Dividend tax
Dividend tax is withheld and remitted by Vitens on dividends paid.