Property, plant and equipment comprise owned and leased assets that do not meet the definition of investment property.
in EUR m | 2025 | 2024 | 2023 |
Owned assets | 428.3 | 439.1 | 446.4 |
Right-of-use assets (Note 3.7) | 444.4 | 418.2 | 333.1 |
Total property, plant and equipment | 872.7 | 857.3 | 779.5 |
Owned Assets | ||||||
2025 in EUR m | Land and buildings | Fixtures and fittings | Prepayments and assets not yet in use | Catering and other equipment | Vehicles | Total |
Net book value | ||||||
Balance at January 1, 2025 | 158.9 | 71.0 | 25.6 | 104.5 | 79.1 | 439.1 |
Additions(I) | 4.7 | 14.2 | 38.9 | 25.2 | 5.5 | 88.5 |
Reclassifications | 1.6 | 15.2 | (34.4) | 15.7 | 1.9 | - |
Disposal of subsidiaries (Note 7.1) | - | (0.8) | - | (0.2) | - | (1.0) |
Disposals | (2.7) | (0.5) | (0.4) | (1.1) | (0.5) | (5.2) |
Depreciation charge for the year | (12.0) | (17.5) | - | (28.9) | (18.6) | (77.0) |
Exchange differences | (4.1) | (4.3) | (1.6) | (3.4) | (2.7) | (16.1) |
Balance at December 31, 2025 | 146.4 | 77.3 | 28.1 | 111.8 | 64.7 | 428.3 |
Net book value | ||||||
Cost | 264.5 | 293.5 | 28.1 | 407.5 | 317.6 | 1,311.2 |
Accumulated depreciation and impairment | (118.1) | (216.2) | - | (295.7) | (252.9) | (882.9) |
Balance at December 31, 2025 | 146.4 | 77.3 | 28.1 | 111.8 | 64.7 | 428.3 |
2024 in EUR m | ||||||
Net book value | ||||||
Balance at January 1, 2024 | 165.4 | 68.1 | 34.0 | 92.2 | 86.7 | 446.4 |
Additions(I) | 3.0 | 10.5 | 21.8 | 27.0 | 7.0 | 69.3 |
Reclassifications | 4.7 | 9.3 | (30.0) | 10.8 | 5.2 | - |
Acquisition of subsidiaries (Note 7.1) | - | - | - | 1.0 | - | 1.0 |
Disposal of subsidiaries (Note 7.1) | - | (0.1) | - | (0.4) | - | (0.5) |
Disposals | (0.2) | (0.1) | (0.3) | (0.4) | (0.3) | (1.3) |
Depreciation charge for the year | (11.8) | (17.9) | - | (27.6) | (20.3) | (77.6) |
Impairment | (0.2) | - | - | - | - | (0.2) |
Exchange differences | (2.0) | 1.2 | 0.1 | 1.9 | 0.8 | 2.0 |
Balance at December 31, 2024 | 158.9 | 71.0 | 25.6 | 104.5 | 79.1 | 439.1 |
Net book value | ||||||
Cost | 271.4 | 315.6 | 25.6 | 401.2 | 339.9 | 1,353.7 |
Accumulated depreciation and impairment | (112.5) | (244.6) | - | (296.7) | (260.8) | (914.6) |
Balance at December 31, 2024 | 158.9 | 71.0 | 25.6 | 104.5 | 79.1 | 439.1 |
2023 in EUR m | ||||||
Net book value | ||||||
Balance at January 1, 2023 | 183.4 | 77.7 | 16.9 | 98.3 | 95.9 | 472.2 |
Additions(I) | 1.3 | 7.3 | 24.2 | 22.0 | 9.2 | 64.0 |
Reclassifications | 0.2 | 1.2 | (6.7) | 3.2 | 2.1 | - |
Disposals(II) | (4.8) | (0.2) | (0.4) | (1.0) | (0.1) | (6.5) |
Depreciation charge for the year | (12.0) | (16.9) | - | (28.5) | (21.7) | (79.1) |
Impairment | - | (0.1) | - | (0.1) | - | (0.2) |
Exchange differences | (2.7) | (0.9) | - | (1.7) | 1.3 | (4.0) |
Balance at December 31, 2023 | 165.4 | 68.1 | 34.0 | 92.2 | 86.7 | 446.4 |
Net book value | ||||||
Cost | 269.5 | 289.2 | 34.0 | 359.1 | 330.8 | 1,282.6 |
Accumulated depreciation and impairment | (104.1) | (221.1) | - | (266.9) | (244.1) | (836.2) |
Balance at December 31, 2023 | 165.4 | 68.1 | 34.0 | 92.2 | 86.7 | 446.4 |
(I)Thereof EUR 86.8m (2024: EUR 69.8m; 2023: EUR 75.2m) paid in the year
(II)Disposals of land and buildings include EUR 2.9m related to the sale and leaseback transaction in Hoogstraten, Belgium (Note 4.4)
The carrying amount of land recorded under land and buildings at December 31, 2025, is EUR 21.6m (2024: EUR 21.5m; 2023: EUR 21.4m). Within property, plant and equipment, no assets are pledged for mortgages (2024 and 2023: none).
Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the assets. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and its cost can be measured reliably. The carrying amount of any replaced asset is derecognized. All other repairs and maintenance costs are charged to the income statement during the financial year in which they are incurred.
Land is not depreciated. Depreciation on other assets is calculated using the straight-line method to allocate cost less any expected residual value over their estimated useful lives, as follows:
The assets’ residual values and useful lives are reviewed and adjusted, if appropriate, at each balance sheet date. Gains or losses on the sale of property, plant and equipment are determined by comparing proceeds with the carrying amount and are included in the Consolidated Income Statement.