20. Cash and cash equivalents

Cash and cash equivalents are recognised at nominal value. The item only includes cash and cash equivalents payable on demand. Cash and cash equivalents not payable on demand are recognised under other current financial assets, depending on the applicable maturities and conditions.

For a breakdown of cash flows, reference is made to the cash flow statement and the explanatory notes to the cash flow statement included in note 30. Notes to the cash flow statement.

Enexis Holding N.V., Enexis Netbeheer B.V., Enexis Vastgoed B.V., Enexis Personeel B.V., and Enpuls B.V. have placed all bank accounts in a cash pool at the Rabobank. Credit balances of Enexis Holding N.V B.V., Enexis Vastgoed B.V., Enexis Personeel B.V. and Enpuls B.V. in the cash pool at the Rabobank have been pledged as security for the credit facility of Enexis Netbeheer B.V. and for amounts owed to each other.

Cash and cash equivalents of the group companies that form part of the cash pool are reported on a net basis, as zero balancing is applied. As part of this, the companies’ bank balances are automatically concentrated in the main account or negative bank balances are compensated from this main account. The cash and cash equivalents of the group companies that do not form part of the cash pool (Enpuls Projecten B.V. and Mijnwater Warmte Infra B.V.) are not reported on a net basis. These group companies had positive balances on their bank accounts at year-end 2023. Bank and cash balances amounted to € 31 million at year-end 2023.

Excess liquidity of € 96 million was placed in money market funds on 31 December 2023. The excess liquidity placed in money market funds is available on demand and therefore qualifies as cash and cash equivalents.