• Annual report 2025
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32. Off-balance sheet arrangements

A number of investigations are ongoing against NS and/or group companies and various claims have been filed that are being contested by NS. Provisions have been made for these where deemed necessary. A number of important issues are explained below.

33. Related parties

All issued shares are held by the State.

34. Subsequent events

There have been no events after the balance sheet date that provide further information about the actual situation as at the balance sheet date or events that are relevant to the opinion of the users of these financial statements.

4. Depreciation and (reversal of) impairment charges

For an explanation of the (reversal of) impairment charges on fixed assets, see note 15.

5. Cost of raw and auxiliary materials

6. Own capitalised production

Own capitalised production in 2025, amounting to €60 million (2024: €63 million), mainly relates to the overhaul of trains.

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