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Finance income (expense) - Analysis of finance income (expense) (Details) - EUR (€)
€ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finance income (expense) related to net borrowings      
Interest and other finance expense on ordinary bonds € (774) € (827) € (667)
Net finance income (expense) on financial assets held for trading 243 367 250
Net expenses on other financial assets valued at fair value with effects on profit and loss (8) 21 34
Interest and other expense due to banks and other financial institutions (252) (358) (207)
Interests on lease liabilities (348) (314) (267)
Interest from banks 191 294 356
Interest and other income on financial receivables and securities held for non-operating purposes 205 161 14
Finance income (expense) related to net borrowings (743) (656) (487)
Exchange differences 133 (38) 255
Income (expense) from derivative financial instruments (80) 278 (61)
Other finance income (expense)      
Interest and other income on financing receivables and securities held for operating purposes 39 44 153
Capitalized finance expense 122 222 94
Finance expense due to the passage of time (accretion discount) (250) (261) (341)
Other finance income (expense) (40) (188) (86)
Other finance income (cost) (129) (183) (180)
Finance income (expense) € (819) € (599) € (473)