December 31, 2025
December 31, 2024
(€ million)
Current
Non-current
Long-term financing receivables held for operating purposes
1
910
1,044
Long-term financing receivables held for non-operating purposes
3,067
136
44
2,109
Short-term financing receivables held for non-operating purposes
642
1,040
3,709
1,084
3,710
1,046
1,085
3,153
Securities held for operating purposes
63
62
Total net of impairment provisions
1,109
3,215
2025
2024
Carrying amount at the beginning of the year
427
383
Additions
26
Deductions
(2)
(3)
Currency translation differences
(47)
24
Other changes
Carrying amount at the end of the year
377
Amortized cost (€ million)
Nominal value
Fair Value
Nominal rate of return (%)
Maturity date
Rating - Moody's
Rating - S&P
Sovereign states
Fixed rate bonds
Italy
18
17
from 0 to 3.6
from 2026 to 2035
Baa2
BBB+
Others (*)
31
from 0 to 5.0
from 2026 to 2030
from Aa1 to Baa2
from AA+ to BBB-
Floating rate bonds
11
from 2.6 to 2.9
from 2026 to 2029
Total sovereign states
60
59
Other financial institutions
European Bank of Investments
3
3.75
2026
Aaa
AAA
Total
(*) Amounts included herein are lower than €10 million.
The disclosure of the allowance relating to impairments of other financial assets due to credit losses.
No definition available.
Tabular disclosure of securities per issuing entity.
Tabular disclosure of other financial assets.
Disclosure Of Financial Assets Explanatory