| (in € millions) | Concession operating fixed assets | Land | Constructions and investment property | Plant, equipment and fixtures | Right-of-use assets in respect of leases | Total | ||
|---|---|---|---|---|---|---|---|---|
| Concession operating fixed assets | Property assets | Movable assets | ||||||
| Gross | ||||||||
| 01/01/2024 |
4,914 |
1,677 |
4,795 |
12,861 |
32 |
2,365 |
1,860 |
28,503 |
| Acquisitions as part of business combinations | 7 | 124 | 454 | 179 | - | 22 | 18 | 804 |
| Other acquisitions during the period | 214 | 43 | 1,512 | 1,027 | 10 | 465 | 483 | 3,754 |
| Disposals during the period | (68) | (12) | (57) | (664) | (4) | (143) | (267) | (1,214) |
| Currency translation differences | 21 | 7 | 50 | 113 | - | 1 | 22 | 213 |
| Scope effects, changes in leases and other | (23) | (21) | (458) | 336 | - | (7) | (4) | (177) |
| 31/12/2024 | 5,065 | 1,818 | 6,296 | 13,852 | 37 | 2,704 | 2,111 | 31,883 |
| Acquisitions as part of business combinations | - | 153 | 127 | 305 | - | 21 | 5 | 612 |
| Other acquisitions during the period | 145 | 35 | 1,920 | 1,108 | 6 | 539 | 558 | 4,311 |
| Disposals during the period | (82) | (13) | (132) | (711) | (1) | (179) | (311) | (1,428) |
| Currency translation differences | (49) | (52) | (214) | (470) | - | (27) | (49) | (860) |
| Scope effects, changes in leases and other | (19) | (5) | (952) | 742 | (1) | 3 | 17 | (216) |
|
31/12/2025 |
5,060 |
1,936 |
7,046 |
14,826 |
41 |
3,061 |
2,331 |
34,301 |
| Depreciation and impairment losses | ||||||||
| 01/01/2024 |
(3,849) |
(442) |
(1,393) |
(7,744) |
(17) |
(1,089) |
(955) |
(15,491) |
| Depreciation in the period | (182) | (25) | (188) | (1,037) | (9) | (325) | (380) | (2,146) |
| Impairment losses | - | (2) | (22) | (3) | - | - | - | (27) |
| Reversals of impairment losses | - | 1 | 7 | 9 | - | - | - | 17 |
| Disposals during the period | 64 | 6 | 36 | 590 | 7 | 137 | 299 | 1,139 |
| Currency translation differences | (12) | (1) | (19) | (55) | - | (1) | (7) | (93) |
| Changes in consolidation scope | (4) | (0) | (5) | (77) | - | (7) | (7) | (100) |
| Other movements | 63 | 1 | 16 | 21 | - | 11 | 4 | 117 |
| 31/12/2024 |
(3,919) |
(462) |
(1,567) |
(8,296) |
(20) |
(1,274) |
(1,046) |
(16,583) |
| Depreciation in the period | (183) | (27) | (204) | (1,123) | (10) | (355) | (452) | (2,354) |
| Impairment losses | - | (1) | (20) | (4) | - | - | - | (26) |
| Reversals of impairment losses | - | 1 | 1 | 2 | - | - | - | 3 |
| Disposals during the period | 69 | 5 | 40 | 612 | 5 | 157 | 313 | 1,200 |
| Currency translation differences | 22 | 2 | 34 | 196 | - | 13 | 23 | 290 |
| Changes in consolidation scope | - | (2) | (12) | (173) | - | (7) | (1) | (195) |
| Other movements | 2 | (1) | 5 | 56 | 1 | (1) | (17) | 45 |
| 31/12/2025 |
(4,008) |
(485) |
(1,724) |
(8,731) |
(24) |
(1,466) |
(1,182) |
(17,620) |
| Net | ||||||||
| 01/01/2024 |
1,065 |
1,235 |
3,401 |
5,117 |
14 |
1,276 |
905 |
13,012 |
| 31/12/2024 |
1,146 |
1,355 |
4,729 |
5,556 |
18 |
1,430 |
1,065 |
15,300 |
| 31/12/2025 |
1,052 |
1,451 |
5,322 |
6,095 |
17 |
1,595 |
1,149 |
16,681 |
Property, plant and equipment include assets under construction for €2,851 million at 31 December 2025 (€2,363 million at 31 December 2024), mainly at Cobra IS for €1,687 million, VINCI Concessions for €559 million and VINCI Construction for €449 million.
The leases to which the Group is a party mainly concern properties, vehicles and certain equipment required for the construction and maintenance businesses.
At 31 December 2025, the breakdown of property, plant and equipment by business line was as follows:
| (in € millions) | Concessions | Energy Solutions | Construction | Holding companies | Total |
|---|---|---|---|---|---|
| Concession operating fixed assets |
Concession operating fixed assets Concessions 1,051 |
Concession operating fixed assets Energy Solutions - |
Concession operating fixed assets Construction - |
Concession operating fixed assets Holding companies - |
Concession operating fixed assets Total 1,052 |
| Land |
Land Concessions 276 |
Land Energy Solutions 103 |
Land Construction 960 |
Land Holding companies 113 |
Land Total 1,451 |
| Constructions and investment property |
Constructions and investment property Concessions 2,080 |
Constructions and investment property Energy Solutions 2,052 |
Constructions and investment property Construction 852 |
Constructions and investment property Holding companies 338 |
Constructions and investment property Total 5,322 |
| Plant, equipment and fixtures |
Plant, equipment and fixtures Concessions 1,032 |
Plant, equipment and fixtures Energy Solutions 2,566 |
Plant, equipment and fixtures Construction 2,416 |
Plant, equipment and fixtures Holding companies 81 |
Plant, equipment and fixtures Total 6,095 |
| Right-of-use assets in respect of leases |
Right-of-use assets in respect of leases Concessions 275 |
Right-of-use assets in respect of leases Energy Solutions 1,329 |
Right-of-use assets in respect of leases Construction 1,157 |
Right-of-use assets in respect of leases Holding companies 1 |
Right-of-use assets in respect of leases Total 2,761 |
| Total at 31 December 2025 |
Total at 31 December 2025 Concessions 4,713 |
Total at 31 December 2025 Energy Solutions 6,049 |
Total at 31 December 2025 Construction 5,385 |
Total at 31 December 2025 Holding companies 534 |
Total at 31 December 2025 Total 16,681 |
| Total at 31 December 2024 |
Total at 31 December 2024 Concessions 4,825 |
Total at 31 December 2024 Energy Solutions 4,964 |
Total at 31 December 2024 Construction 4,941 |
Total at 31 December 2024 Holding companies 570 |
Total at 31 December 2024 Total 15,300 |
