Accounting policies and methods
As a general rule, software, recorded under “Concessions, patents and licences”, is amortised over two or three years on a straight-line basis.
Property, plant and equipment is recognised at acquisition cost, including all acquisition-related costs.
The Company applies Opinion 2004-06, issued by the Conseil National de la Comptabilité (CNC, the French national accounting board), on the definition, recognition and measurement of assets.
Depreciation is calculated on a straight-line basis over an asset’s estimated useful life:
| Constructions | 10 to 40 years |
|---|---|
| Other property, plant and equipment | 3 to 10 years |
Gross values
| (in € millions) | 31/12/2023 | Acquisitions | Disposals | 31/12/2024 |
|---|---|---|---|---|
| Concessions, patents and licences | Concessions, patents and licences 31/12/202314 |
Concessions, patents and licences Acquisitions 0 |
Concessions, patents and licences Disposals - |
Concessions, patents and licences 31/12/202414 |
| Total intangible assets | Total intangible assets 31/12/202314 |
Total intangible assets Acquisitions 0 |
Total intangible assets Disposals - |
Total intangible assets 31/12/202414 |
| Land | Land 31/12/20232 |
Land Acquisitions - |
Land Disposals 1 |
Land 31/12/20241 |
| Constructions | Constructions 31/12/202314 |
Constructions Acquisitions - |
Constructions Disposals 1 |
Constructions 31/12/202413 |
| Other property, plant and equipment and assets under construction | Other property, plant and equipment and assets under construction 31/12/20238 |
Other property, plant and equipment and assets under construction Acquisitions 1 |
Other property, plant and equipment and assets under construction Disposals 0 |
Other property, plant and equipment and assets under construction 31/12/202410 |
| Total property, plant and equipment | Total property, plant and equipment 31/12/202324 |
Total property, plant and equipment Acquisitions 1 |
Total property, plant and equipment Disposals 2 |
Total property, plant and equipment 31/12/202424 |
Depreciation, amortisation and impairment
| (in € millions) | 31/12/2023 | Expense | Reversals | 31/12/2024 |
|---|---|---|---|---|
| Concessions, patents and licences | Concessions, patents and licences 31/12/2023 12 |
Concessions, patents and licences Expense 1 |
Concessions, patents and licences Reversals - |
Concessions, patents and licences 31/12/202413 |
| Total intangible assets | Total intangible assets 31/12/2023 12 |
Total intangible assets Expense 1 |
Total intangible assets Reversals 0 |
Total intangible assets 31/12/202413 |
| Constructions | Constructions 31/12/2023 9 |
Constructions Expense 2 |
Constructions Reversals 1 |
Constructions 31/12/202410 |
| Other property, plant and equipment | Other property, plant and equipment 31/12/2023 6 |
Other property, plant and equipment Expense 1 |
Other property, plant and equipment Reversals 0 |
Other property, plant and equipment 31/12/20247 |
| Total property, plant and equipment | Total property, plant and equipment 31/12/2023 15 |
Total property, plant and equipment Expense 3 |
Total property, plant and equipment Reversals 1 |
Total property, plant and equipment 31/12/202417 |
Accounting policies and methods
Investments in subsidiaries and affiliates are measured at their cost of acquisition. In accordance with Regulation 2004-06, issued by the Comité de la Réglementation Comptable (CRC, the French accounting regulations committee), on the definition and recognition of assets, VINCI SA includes all associated acquisition expenses in the cost of investments in subsidiaries and affiliates. If this cost is greater than the asset’s value in use, an impairment allowance is taken equal to the difference.
Value in use is determined on the basis of the portion of the equity represented by the investments. This portion is adjusted if necessary to take account of the cash flow prospects and/or market analysis for the companies in question.
Capital gains or losses on disposal of shareholdings are recorded under “Net exceptional income/(expense)”.
Loans and receivables are measured at nominal value. Impairment allowances are taken in respect of all these items if there is a risk of non-recovery.
Gross values
| (in € millions) | 31/12/2023 | Acquisitions/increases | Disposals/decreases | Contributions | 31/12/2024 |
|---|---|---|---|---|---|
| Investments in subsidiaries and affiliates | Investments in subsidiaries and affiliates 31/12/2023 28,059 |
Investments in subsidiaries and affiliates Acquisitions/increases1,744 |
Investments in subsidiaries and affiliates Disposals/decreases - |
Investments in subsidiaries and affiliates Contributions - |
Investments in subsidiaries and affiliates 31/12/202429,803 |
| Receivables connected with investments in subsidiaries and affiliates | Receivables connected with investments in subsidiaries and affiliates 31/12/2023 10,817 |
Receivables connected with investments in subsidiaries and affiliates Acquisitions/increases936 |
Receivables connected with investments in subsidiaries and affiliates Disposals/decreases (1,879) |
Receivables connected with investments in subsidiaries and affiliates Contributions - |
Receivables connected with investments in subsidiaries and affiliates 31/12/20249,874 |
| Other non-current financial assets | Other non-current financial assets 31/12/2023 3 |
Other non-current financial assets Acquisitions/increases- |
Other non-current financial assets Disposals/decreases - |
Other non-current financial assets Contributions - |
Other non-current financial assets 31/12/20243 |
| Total | Total 31/12/2023 38,879 |
Total Acquisitions/increases2,679 |
Total Disposals/decreases (1,879) |
Total Contributions - |
Total 31/12/202439,680 |
Operating investments mainly relate to the VINCI Concessions and VINCI Immobilier capital increases, the acquisition of NatPower (see section A, “Key events in the period”, page 394) and the remeasurement of the earn-out payable to the ACS group as part of the Cobra IS acquisition (€60 million).
