In line with internal reporting to the Executive Board, the Group has identified the following operating segments: Property Development, Residential Building, Whoon, Van Gisbergen (acquired in 2024), Non-residential (including Hegeman) and Infra. Read more over 6.1 Segment information .

On 13 September 2024, the Group acquired all shares in PeVaGis B.V. (hereafter: Van Gisbergen). This acquisition strengthens the Group's position as a developing construction company with land holdings in the Greater Eindhoven region. Read more over 6.2 Business combinations .

Revenue broken down by segment and also by the nature of the underlying activities: Read more over 6.3 Revenue .

The gain on the sale of non-current assets relates to the sale of machinery and equipment. Read more over 6.4 Other operating income .

Staff costs are included in cost of sales, administrative expenses and selling expenses in the statement of profit or loss and are composed as follows: Read more over 6.5 Staff costs, depreciation, and research and development expenses .

See note '6.12 Intangible assets' for further information on amortisation and impairment losses of intangible assets. Read more over 6.6 Other operating expenses .

The net financing income and expense is broken down as follows: Read more over 6.7 Finance income and expense .

Income taxes are fully incurred in the Netherlands and are recognised in the statement of profit or loss as follows: Read more over 6.8 Income tax .

Income tax receivables relate to income tax still to be recovered in respect of financial years that have not yet been settled for tax purposes, where excessive provisional assessments have been paid. Read more over 6.9 Income tax receivables and payables .

Investments in land and buildings include the acquisition of the Group’s previously leased headquarters in Rosmalen. Read more over 6.10 Property, plant and equipment .

The movements in right-of-use assets were as follows: Read more over 6.11 Leases .

Intangible assets consist of goodwill and other intangible assets. Read more over 6.12 Intangible assets .

The carrying amount of joint ventures and associates (collectively referred to as investments) is made up as follows: Read more over 6.13 Joint ventures and associates .

None of the loans granted to joint ventures has a maturity of less than one year (2024: nil), € 25 million has a maturity of 1 to 5 years (2024: € 1 million) and € 11 million has a maturity of 5 years or longer, including loans with an indefinite Read more over 6.14 Long-term receivables .

Deferred tax assets and liabilities relate to temporary differences between the tax and accounting measurement of items in the statement of financial position, as well as the measurement of recognised tax loss carry-forwards. Read more over 6.15 Deferred tax assets and liabilities .

For further information on the pledging of land positions in connection with the financing agreements, reference is made to note '6.22 Interest-bearing financial obligations'. Read more over 6.16 Inventories .

Work in progress generally has a term of less than 12 months. Read more over 6.17 Work in progress .

Trade and other receivables are presented net of an allowance for expected credit losses of € 1.0 million (2024: € 0.9 million). This impairment for expected bad debts is recognised in the statement of profit or loss under administrative expenses. Read more over 6.18 Trade and other receivables .

Cash and cash equivalents are used primarily for operating activities, dividend and strategic initiatives. Strategic initiatives include making equipment more sustainable, industrialisation of production and M&A activities. Read more over 6.19 Cash and cash equivalents .

For an explanation of changes in equity, reference is made to statement 2b, and for an explanation of the appropriation of results, reference is made to note '6.21 Earnings per share'. Read more over 6.20 Equity .

Earnings after tax per weighted average share for 2025 amount to € 4.73 (2024: € 3.31). Read more over 6.21 Earnings per share .

Heijmans has various financing arrangements in place, both at group and project level. Read more over 6.22 Interest-bearing financial obligations .

The total liability arising from defined benefit-pension plans and long-service payments is recognised in the statement of financial position as follows: Read more over 6.23 Provision for employee benefits .

The provision for warranty obligations relates to complaints and defects that have become apparent after completion of projects and that are covered by the warranty. Read more over 6.24 Provisions .

The trade and other payables are predominantly of a short-term nature. Other payables include amounts of a non-current nature of approximately € 2 million (2024: € 4 million). Read more over 6.25 Trade and other payables .

In the normal course of business, Royal Heijmans N.V. is exposed to various financial risks, including credit, liquidity, market, price and interest-rate risks. Read more over 6.26 Financial risks and risk management .

Contractual commitments in connection with the acquisition of property, plant and equipment relate mainly to commitments to purchase electric equipment and commitments to construct heat networks in the Connecting segment. Read more over 6.27 Investment commitments .

Contingent liabilities are potential liabilities resulting from events prior to the reporting date. The liabilities are potential because the outflow of economic resources depends on the occurrence of uncertain events in the future. Read more over 6.28 Contingent liabilities .

Related parties can be divided into subsidiaries, associates, joint ventures, the members of the Supervisory Board and the members of the Executive Board. Read more over 6.29 Related parties .

The accounting information in the financial statements is partly based on estimates and assumptions. Read more over 6.30 Management estimates and judgements .

The following fees for KPMG Accountants N.V. have been charged to the Company, its subsidiaries and other companies included in the consolidated figures, in accordance with the provisions in Section 382a Book 2 of the Dutch Civil Code. Read more over 6.31 Auditor’s fees .

In the period prior to signing, no significant events occurred that would have an effect on these financial statements. Read more over 6.32 Events after the reporting date .