11 Other financial assets
millions of € |
|
|
|
|
|
Dec. 31, 2025 |
Dec. 31, 2024 |
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|---|---|---|---|---|
|
|
|
|
|
|
Total |
Of which: current |
Total |
Of which: current |
Originated loans and receivables |
5,906 |
4,478 |
5,170 |
4,194 |
Of which: collateral paid |
1,689 |
1,614 |
1,533 |
1,458 |
Of which: other receivables – publicly funded projects |
1,706 |
664 |
1,550 |
961 |
Debt instruments – measured at fair value through profit or loss |
245 |
7 |
265 |
6 |
Derivative financial assets |
1,399 |
21 |
1,585 |
131 |
Of which: derivatives with a hedging relationship |
826 |
15 |
674 |
47 |
Of which: derivatives without a hedging relationship |
573 |
6 |
911 |
83 |
Equity instruments – measured at fair value through profit or loss |
7 |
3 |
3 |
0 |
Equity instruments – measured at fair value through other comprehensive income |
794 |
0 |
549 |
0 |
Lease assets |
205 |
75 |
171 |
87 |
|
8,557 |
4,584 |
7,743 |
4,418 |
The carrying amount of current and non-current other financial assets increased by EUR 0.8 billion compared to December 31, 2024 to EUR 8.6 billion. Exchange rate effects, primarily from the translation of U.S. dollars into euros, decreased the carrying amount by a total of EUR 0.3 billion.
The net total of originated loans and receivables increased by EUR 0.7 billion to EUR 5.9 billion. The increase in the carrying amount resulted from higher receivables from collateral agreements as surety for credit risks in connection with forward payer swaps due to normal fluctuations in fair value (EUR 0.2 billion), higher receivables from grants still to be received from publicly funded projects in the Germany operating segment (EUR 0.2 billion), an increase in operating receivables at T‑Mobile US (EUR 0.2 billion), primarily from the increase in receivables from terminal equipment manufacturers and primary insurers, receivables from GD tower companies in connection with dividends from shareholders’ equity (EUR 0.2 billion), and effects of changes in the composition of the Group (EUR 0.2 billion), primarily from the UScellular Acquisition. Exchange rate effects reduced the carrying amount by EUR 0.2 billion.
At the reporting date, cash and cash equivalents of EUR 69 million when translated into euros (December 31, 2024: EUR 70 million) were pledged as collateral for liabilities with the right of creditors to priority repayment in the event of default.
The carrying amount of derivatives without a hedging relationship decreased by EUR 0.3 billion, in particular in connection with the measurement of cross-currency swaps, due to a fall in the USD/EUR exchange rate. By contrast, the carrying amount of derivatives with a hedging relationship increased by EUR 0.2 billion.
Increases in fair value resulted in an increase in the carrying amounts of equity instruments by EUR 0.2 billion.
For further information on allowances, derivatives, cash collateral, and the credit ratings of originated loans and receivables, please refer to Note 43 “Financial instruments and risk management.”