v3.25.4
Capital and funding - Summary of Financial Liabilities (Details) - EUR (€)
€ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current liabilities      
Bank loans and overdrafts, current € 229 € 517  
Bonds and other loans, current 1,951 5,363  
Financial liabilities 277 322  
Derivatives, current 48 152  
Other financial liabilities, current 77 633  
Current financial liabilities 2,582 6,987  
Non-current liabilities      
Bank loans and overdrafts, non-current 4 4  
Bonds and other loans, non-current 24,087 23,285  
Lease liabilities, non-current 1,049 1,164  
Derivatives, non-current 404 442  
Other financial liabilities, non-current 152 171  
Non-current financial liabilities 25,696 25,066  
Bank loans and overdrafts 233 521  
Bonds and other loans 26,038 28,648  
Lease liabilities 1,326 1,486  
Derivatives (452) (594)  
Other financial liabilities 229 804  
Financial liabilities 28,278 32,053 € 29,622
Secured liabilities € 3 € 4