Royal BAM Group Annual Report 2025

24. Borrowings

Samenvatting van artikel: Borrowings are recognised initially at fair value, net of transaction costs incurred. After initial recognition borrowings are measured at amortised cost using the effective interest rate method.

25. Employee benefits

Samenvatting van artikel: A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity.

26. Provisions

Samenvatting van artikel: Provisions for warranties, restructuring costs, claims/legal obligations, associates and joint ventures and onerous contracts are recognised when: (a) the Group has a present legal or constructive obligation as a result of past events; (b) it is

27. Trade and other payables

Samenvatting van artikel: Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less.

28. Related parties

Samenvatting van artikel: The Group identifies subsidiaries, associates, joint ventures, third parties executing the Group’s defined benefit pension plans and key management as related parties.

29. Share-based payments

Samenvatting van artikel: The Group operates equity-settled share-based plans. The fair value of the employee services received in exchange for the grant of the shares is recognised as cost with a corresponding credit entry of equity.

3. Critical accounting judgements and key sources of estimation uncertainties

Samenvatting van artikel: The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.

3. Financial assets

Samenvatting van artikel: The disposal of other participating interests in 2025 and the net result recognised in 2024 relate to Invesis (Note 22). Refer to Other Information (Note 8.4), for the list of principal subsidiaries, joint ventures and associates.

3.1 Financial performance

Samenvatting van artikel: Royal BAM Group delivered a strong performance in 2025. We reported an adjusted EBITDA of €400 million, representing an increase of 20% compared with 2024.

3.2 Sustainability performance

Samenvatting van artikel: As we pursue our mission of building a sustainable tomorrow, we are committed to maximising our positive impacts on society and the environment and minimising our negative ones. And not just in the work we do, but in how we do it as well.

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