16. Investments recognised using the equity method
The investments that are accounted for using the equity method, with a carrying amount of €15 million (2023: €12 million), are included below.
|
(in millions of euros) |
2024 |
2023 |
|
Current assets |
14 |
17 |
|
of which Cash and cash equivalents |
6 |
7 |
|
Non-current assets |
37 |
25 |
|
Current liabilities |
9 |
8 |
|
of which current financial liabilities |
- |
- |
|
Non-current liabilities |
1 |
- |
|
of which non-current financial liabilities |
- |
- |
|
Net equity (based on 100%) |
43 |
35 |
|
Book value of investments recognised using the equity method as at 31 December |
15 |
12 |
|
Revenue |
31 |
28 |
|
Depreciation and impairment losses |
4 |
3 |
|
Result from operating activities |
- |
-3 |
|
Finance income |
- |
- |
|
Finance expense |
- |
- |
|
Income tax |
- |
- |
|
Result for the period |
-3 |
-3 |
|
Total comprehensive income for the period |
-3 |
-3 |
|
Share in result of investments accounted for using the equity method |
2 |
-1 |
|
Share in other comprehensive income |
- |
- |
|
Share in comprehensive income of investments recognised using the equity method |
2 |
-1 |
|
Dividend received |
- |
- |
As regards the investments accounted for using the equity method, there are no material contingent assets and/or liabilities. As regards the valuation of the interests in the joint ventures, there are no significant estimates or assessments. The amounts included are derived from the latest available data.
Accounting policy
The Group’s interests in investments accounted for using the equity method consist of interests in associates and joint ventures.
Associates are entities in which the Group has significant influence on the financial and operational policy, but which it does not control. A joint venture is an agreement through which the Group shares in the control and in which the Group has rights to the net assets of the arrangement rather than rights with respect to the assets and obligations with respect to the liabilities.
Associates and joint ventures over which control is exercised jointly are accounted for using the equity method and measured at cost upon initial recognition. The cost of the investment includes the transaction costs. After initial recognition, the consolidated financial statements include the Group’s share in the total comprehensive income of the investments accounted for using the equity method, up to the date on which it ceases to exercise significant influence.