The company-only financial statements form part of the 2025 financial statements of Royal Heijmans N.V. Read more over 8.1 General .

Royal Heijmans N.V. applies the option provided in Article 2:362(8) of the Dutch Civil Code when determining the principles for the recognition and measurement of assets and liabilities and the determination of results in its company-only financial Read more over 8.2 Accounting policies for financial reporting .

The effective tax rate in 2025 is negative 15.5% (2024: negative 16.6%) and is below the nominal rate of 25.8% in both years. This deviation is almost entirely explained by the fiscal unity for corporate income tax, in which Royal Heijmans N.V. Read more over 8.3 Company-only statement of profit or loss .

Read more over 8.4 Company-only statement of financial position (before proposed appropriation of result) .

Intangible assets comprise goodwill purchased on the acquisition of IBC in 2001. Historical cost was € 47 million and accumulated impairment is € 26 million. Read more over 8.5 Notes to the company-only statement of financial position .

For information on the guarantees, see note ‘6.28 Contingent liabilities’ to the consolidated financial statements. Read more over 8.6 Liabilities not disclosed in the statement of financial position .