Lease liabilities

12 Months Ended

Dec. 31, 2025

21. LEASE LIABILITIES


	2025				2024				2023
	Non-current		Current		Non-current		Current		Non-current		Current
Lease liabilities		273		298		406		370		325		341

These liabilities are discounted at the following rates:


Lease term	2025		Effective average monthly rate used		2024		Effective average monthly rate used		2023		Effective average monthly rate used
0 to 1 year		71		0.86%		53		1.15%		87		1.55%
1 to 2 years		161		0.76%		248		0.89%		142		1.17%
2 to 3 years		179		0.74%		140		0.89%		210		1.02%
3 to 4 years		43		0.69%		149		0.82%		46		0.97%
4 to 5 years		28		0.79%		55		0.69%		118		0.90%
5 to 9 years		80		0.62%		112		0.66%		38		0.81%
More than 9 years		9		0.70%		19		0.73%		25		0.75%

		571				776				666

Financial expenses accrued for the years ended December 31, 2025, 2024 and 2023, resulting from lease contracts, amount to 65, 71 and 77, respectively. From this accretion, 57, 61 and 64 were included in the “Other financial costs” line in financial costs of the “Net financial results” line item in the statement of comprehensive income and 8, 10 and 13 were capitalized in the “Property, plant and equipment” line item in the statement of financial position, for the years ended December 31, 2025, 2024 and 2023, respectively.

As of December 31, 2025, maturities of liabilities related to lease contracts are disclosed in Note 4.

The evolution of the Group’s leases liabilities for the fiscal years ended December 31, 2025, 2024 and 2023 is as follows:


	2025		2024		2023
Balance at the beginning of the year		776		666		566
Increases of leases		216		444		404
Financial accretions		65		71		77
Decreases of leases		(80)		(5)		(23)
Payments		(406)		(400)		(359)
Result from net monetary position (1)		-		-		1

Balance at the end of the year		571		776		666

(1)

Includes the adjustment for inflation of opening balances of lease liabilities of subsidiaries with the peso as functional currency which was charged to “Other comprehensive income” in the statement of comprehensive income and the adjustment for inflation of the fiscal year which was charged to net profit or loss in the statement of comprehensive income.

Total charges recorded in net profit or loss in the statement of comprehensive income for the fiscal year and total capitalizations for short-term leases,

low-value

leases and variable lease payments related to the underlying asset use or performance, amounted to 112, 187 and 242 as of December 31, 2025, 2024 and 2023, respectively.