v3.25.4
Financial instruments - Carrying amount and fair value (Details) - EUR (€)
€ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financial instruments    
Carrying amount of financial assets € 5,845,634 € 5,796,379
Carrying amount of financial liabilities 13,400,213 14,249,510
Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 9,091,942 8,734,362
FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 21,872 59,942
Not classified    
Financial instruments    
Carrying amount of financial liabilities 4,286,399 5,455,206
Accounts payable to unrelated parties    
Financial instruments    
Carrying amount of financial liabilities 722,974 864,500
Accounts payable to unrelated parties | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 722,974 864,500
Accounts payable to related parties    
Financial instruments    
Carrying amount of financial liabilities 97,951 80,044
Accounts payable to related parties | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 97,951 80,044
Short-term debt    
Financial instruments    
Carrying amount of financial liabilities 17,015 2,099
Short-term debt | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 17,015 2,099
Long-term debt    
Financial instruments    
Carrying amount of financial liabilities 7,287,881 6,836,108
Long-term debt | Level 1    
Financial instruments    
Fair value of financial liabilities 6,716,223 6,015,977
Long-term debt | Level 2    
Financial instruments    
Fair value of financial liabilities 318,336 340,921
Long-term debt | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 7,287,881 6,836,108
Lease liabilities    
Financial instruments    
Carrying amount of financial liabilities 3,490,709 4,140,701
Lease liabilities | Not classified    
Financial instruments    
Carrying amount of financial liabilities 3,490,709 4,140,701
Other current and non-current liabilities    
Financial instruments    
Carrying amount of financial liabilities 1,783,683 2,326,058
Other current and non-current liabilities | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 966,121 951,611
Other current and non-current liabilities | FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 21,872 59,942
Other current and non-current liabilities | Not classified    
Financial instruments    
Carrying amount of financial liabilities 795,690 1,314,505
Derivatives - cash flow hedging instruments    
Financial instruments    
Carrying amount of financial liabilities 2,647 15,388
Derivatives - cash flow hedging instruments | Level 2    
Financial instruments    
Fair value of financial liabilities 2,647 15,388
Derivatives - cash flow hedging instruments | Not classified    
Financial instruments    
Carrying amount of financial liabilities 2,647 15,388
Derivatives - not designated as hedging instruments    
Financial instruments    
Carrying amount of financial liabilities 9,147 26,615
Derivatives - not designated as hedging instruments | Level 2    
Financial instruments    
Fair value of financial liabilities 9,147 26,615
Derivatives - not designated as hedging instruments | FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 9,147 26,615
Derivatives embedded in vPPAs    
Financial instruments    
Carrying amount of financial liabilities 9,463 25,394
Derivatives embedded in vPPAs | Level 3    
Financial instruments    
Fair value of financial liabilities 9,463 25,394
Derivatives embedded in vPPAs | FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 9,463 25,394
Variable payments outstanding for acquisition    
Financial instruments    
Carrying amount of financial liabilities 3,262 7,933
Variable payments outstanding for acquisition | Level 3    
Financial instruments    
Fair value of financial liabilities 3,262 7,933
Variable payments outstanding for acquisition | FVPL - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 3,262 7,933
Put option liabilities    
Financial instruments    
Carrying amount of financial liabilities 793,043 1,299,117
Put option liabilities | Level 3    
Financial instruments    
Fair value of financial liabilities 793,043 1,299,117
Put option liabilities | Not classified    
Financial instruments    
Carrying amount of financial liabilities 793,043 1,299,117
Other financial liabilities    
Financial instruments    
Carrying amount of financial liabilities 966,121 951,611
Other financial liabilities | Amortized cost - Liabilities    
Financial instruments    
Carrying amount of financial liabilities 966,121 951,611
Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 4,756,889 4,545,477
FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 481,357 621,094
FVOCI - Assets    
Financial instruments    
Carrying amount of financial assets 414,792 436,645
Not classified    
Financial instruments    
Carrying amount of financial assets 192,596 193,163
Cash and cash equivalents    
Financial instruments    
Carrying amount of financial assets 1,599,113 1,180,187
Cash and cash equivalents | Level 1    
Financial instruments    
Fair value of financial assets 257,992 240,990
Cash and cash equivalents | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 1,341,121 939,197
Cash and cash equivalents | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 257,992 240,990
Trade accounts and other receivables from unrelated parties    
Financial instruments    
Carrying amount of financial assets 3,107,503 3,345,660
Trade accounts and other receivables from unrelated parties | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 3,018,004 3,258,181
Trade accounts and other receivables from unrelated parties | Not classified    
Financial instruments    
Carrying amount of financial assets 89,499 87,479
Accounts receivable from related parties    
Financial instruments    
Carrying amount of financial assets 32,683 40,936
Accounts receivable from related parties | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 32,683 40,936
Other current and non-current assets    
Financial instruments    
Carrying amount of financial assets 1,106,335 1,229,596
Other current and non-current assets | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 365,081 307,163
Other current and non-current assets | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 223,365 380,104
Other current and non-current assets | FVOCI - Assets    
Financial instruments    
Carrying amount of financial assets 414,792 436,645
Other current and non-current assets | Not classified    
Financial instruments    
Carrying amount of financial assets 103,097 105,684
Derivatives - cash flow hedging instruments    
Financial instruments    
Carrying amount of financial assets 13,856 4,362
Derivatives - cash flow hedging instruments | Level 2    
Financial instruments    
Fair value of financial assets 13,856 4,362
Derivatives - cash flow hedging instruments | Not classified    
Financial instruments    
Carrying amount of financial assets 13,856 4,362
Derivatives - not designated as hedging instruments    
Financial instruments    
Carrying amount of financial assets 11,546 21,453
Derivatives - not designated as hedging instruments | Level 2    
Financial instruments    
Fair value of financial assets 11,546 21,453
Derivatives - not designated as hedging instruments | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 11,546 21,453
Derivatives embedded in vPPAs    
Financial instruments    
Carrying amount of financial assets 7,730  
Derivatives embedded in vPPAs | Level 3    
Financial instruments    
Fair value of financial assets 7,730  
Derivatives embedded in vPPAs | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 7,730  
Equity investments    
Financial instruments    
Carrying amount of financial assets 89,508 187,600
Equity investments | Level 1    
Financial instruments    
Fair value of financial assets 15,239 90,483
Equity investments | Level 2    
Financial instruments    
Fair value of financial assets 60,498 67,963
Equity investments | Level 3    
Financial instruments    
Fair value of financial assets 13,771 29,154
Equity investments | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 31,011 120,813
Equity investments | FVOCI - Assets    
Financial instruments    
Carrying amount of financial assets 58,497 66,787
Debt securities    
Financial instruments    
Carrying amount of financial assets 430,219 465,432
Debt securities | Level 1    
Financial instruments    
Fair value of financial assets 430,219 465,432
Debt securities | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 73,924 95,574
Debt securities | FVOCI - Assets    
Financial instruments    
Carrying amount of financial assets 356,295 369,858
Other financial assets    
Financial instruments    
Carrying amount of financial assets 553,476 550,749
Other financial assets | Level 3    
Financial instruments    
Fair value of financial assets 99,154 142,264
Other financial assets | Amortized cost - Assets    
Financial instruments    
Carrying amount of financial assets 365,081 307,163
Other financial assets | FVPL - Assets    
Financial instruments    
Carrying amount of financial assets 99,154 142,264
Other financial assets | Not classified    
Financial instruments    
Carrying amount of financial assets € 89,241 € 101,322