$AEFC

AEGON NV

CIK:0000769218|SEC Filings

Consolidated income statement of Aegon Ltd. - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement [LineItems]
Insurance revenue	€ 9,097	€ 9,841	€ 10,386
Insurance service expenses	(9,423)	(9,790)	(10,226)
Net income / (expenses) on reinsurance held	836	325	182
Insurance service result	511	376	342
Interest revenue on financial instruments calculated using the effective interest method	2,683	2,720	2,738
Net reinsurance finance income / (expenses) on reinsurance held	564	611	699
Insurance net investment result	1,214	697	415
Interest revenue on financial instruments calculated using the effective interest method	636	605	599
Other investment income	825	729	550
Results from financial transactions	10,065	7,634	6,929
Investment contract income / (expenses)	(11,372)	(8,781)	(7,851)
Other net investment result	331	294	238
Total net investment result	438	139	(139)
Fees and commission income	2,390	2,378	2,163
Other operating expenses	(2,928)	(2,961)	(3,000)
Other income / (charges)	130	145	(57)
Other result	(408)	(438)	(894)
Result before share in profit / (loss) of joint ventures, associates and tax	541	77	(691)
Result before tax from continuing operations	1,045	660	(391)
Income tax (expense) / benefit	(65)	16	209
Net result from continuing and discontinued operations	980	676	(199)
Net income/ (loss) attributes to:
Owners of Aegon Ltd.	977	688	(179)
Non-controlling interests	3	(12)	(20)
Share in profit / (loss) of joint ventures	303	238	196
Share in profit / (loss) of associates	200	345	103
Net result from continuing operations	980	676	(182)
Net result from discontinued operations	€ 0	€ 0	€ (17)
Earnings per share (EUR per share) from continuing and discontinued operations
Basic earnings per common share	€ 0.59	€ 0.37	€ (0.12)
Diluted earnings per common share	0.59	0.37	(0.12)
Basic earnings per common share from continuing operations	0.59	0.37	(0.11)
Diluted earnings per common share from continuing operations	0.59	0.37	(0.11)
Earnings per share (EUR per share) from continuing and discontinued operations
Basic earnings per common share B	0.01	0.01	0
Diluted earnings per common share B	0.01	0.01	0
Basic earnings per common share B from continuing operations	0.01	0.01	0
Diluted earnings per common share B from continuing operations	€ 0.01	€ 0.01	€ 0
Insurance Net Investment Result [Member]
Statement [LineItems]
Interest income from instruments measured at FVPL	€ 615	€ 637	€ 737
Other investment income	1,198	1,340	1,283
Results from financial transactions	15,632	11,593	12,302
Impairment (losses) / reversals	(46)	(190)	(86)
Insurance finance income / (expenses)	(20,227)	(16,506)	(17,650)
Net reinsurance finance income / (expenses) on reinsurance held	564	611	699
Interest expenses	(135)	(171)	(218)
Insurance net investment result	285	34	(196)
Other Net Investment Result [Member]
Statement [LineItems]
Interest revenue on financial instruments calculated using the effective interest method	636	605	599
Interest income from instruments measured at FVPL	217	186	89
Other investment income	825	729	550
Results from financial transactions	10,065	7,634	6,929
Impairment (losses) / reversals	(22)	(47)	(33)
Investment contract income / (expenses)	(11,372)	(8,781)	(7,851)
Interest expenses	(18)	(32)	(45)
Other net investment result	331	294	238
Financing Net Investment Result [Member]
Statement [LineItems]
Interest charges	(178)	(190)	(182)
Financing net investment result	(178)	(190)	(182)
Aegon Ltd. [member]
Statement [LineItems]
Results from financial transactions	42	1
Investment income	46	86
Total revenues	46	86
Total income	88	87
Commissions and expenses	209	95
Interest charges and related fees	96	129
Total charges	305	224
Result before tax from continuing operations	(217)	(137)	(133)
Income tax (expense) / benefit	10	19
Net result from continuing and discontinued operations	(207)	(118)
Net result group companies	1,184	806
Net income/ (loss) attributes to:
Owners of Aegon Ltd.	€ 977	€ 688	€ (179)

Consolidated cash flow statement of Aegon Ltd. - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement [LineItems]
Result before tax from continuing operations	€ 1,045	€ 660	€ (391)
Result before tax from discontinued operations	0	0	458
Impairment loss on measurement of disposal group	0	0	(413)
Result before tax from continuing and discontinued operations	1,045	660	(346)
Results from financial transactions	(26,228)	(20,665)	(20,540)
Amortization and depreciation	(167)	(31)	(163)
Impairment losses	69	237	116
Results from (re)insurance contracts and investment contracts with discretionary participation features	19,152	15,519	17,673
Income from joint ventures	(303)	(238)	(200)
Income from associates	(200)	(345)	(118)
Release of cash flow hedging reserve	(127)	(124)	(130)
Other	187	445	892
Adjustments of non-cash items	(7,618)	(5,201)	(2,469)
Investment contracts without discretionary participation features	13,774	12,760	9,742
Accrued expenses and other liabilities	95	(586)	(442)
Accrued income and prepayments	(156)	(71)	1,325
Changes in accruals	13,713	12,102	10,626
Insurance contracts	(11,333)	(11,904)	(11,770)
Investment contracts with discretionary participation features	(2,744)	(2,525)	(2,030)
Reinsurance contracts held	(1,681)	1,869	923
Purchase of investments (other than money market investments)	(65,066)	(48,545)	(43,445)
Purchase of derivatives	46	(64)	(1,011)
Disposal of investments (other than money market investments)	74,296	52,606	52,576
Disposal of derivatives	(188)	(107)	(1,612)
Net change in cash collateral	(8)	(1,282)	1,592
Net purchase of money market investments	(94)	3,244	(1,853)
Cash flow movements on operating items not reflected in income	(6,771)	(6,708)	(6,631)
Tax (paid)/ received	76	(80)	(321)
Other	(10)	(12)	4
Net cash flows from operating activities	434	762	864
Purchase of intangible assets (other than future servicing rights)	(13)	(15)	(51)
Purchase of equipment and real estate for own use	(41)	(51)	(65)
Acquisition of subsidiaries, net of cash	(13)	(41)	(34)
Acquisition/capital contributions joint ventures and associates	(82)	(8)	(253)
Disposal of intangible asset	0	0	3
Disposal of equipment	5	20	46
Disposal of subsidiaries and businesses, net of cash	(2)	19	(1,964)
Disposal joint ventures and associates	756	37	12
Dividend received from joint ventures and associates	400	340	310
Other	0	(1)	0
Net cash flows from investing activities	1,010	300	(1,996)
Purchase of treasury shares	(549)	(925)	(1,072)
Proceeds from TRUPS, Subordinated borrowings and borrowings	946	700	2,670
Repayment of TRUPS 1, subordinated loans and borrowings	(1,707)	(909)	(4,230)
Dividends paid	(596)	(521)	(494)
Coupons on perpetual securities	(67)	(68)	(65)
Payment of lease liabilities	(33)	(37)	(39)
Change in ownership non-controlling interests	(30)	2	(11)
Other	1	3	0
Net cash flows from financing activities	(2,035)	(1,755)	(3,241)
Net increase / (decrease) in cash and cash equivalents	(591)	(694)	(4,373)
Net cash and cash equivalents at the beginning of the year	3,469	4,074	8,486
Effects of changes in exchange rate	(144)	88	(38)
Net cash and cash equivalents at the end of the year	€ 2,733	€ 3,469	€ 4,074

Consolidated statement of financial position of Aegon Ltd. - EUR (€)	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	€ 2,733,000,000	€ 3,469,000,000
Investments	285,141,000,000	293,716,000,000
Derivatives	485,000,000	771,000,000
Investments in joint ventures	1,566,000,000	1,503,000,000
Investments in associates	2,638,000,000	3,122,000,000
Reinsurance contract assets	17,153,000,000	16,021,000,000
Insurance contract assets	18,000,000	125,000,000
Defined benefit assets	95,000,000	110,000,000
Reimbursement rights	28,000,000	9,000,000
Deferred tax assets	1,894,000,000	2,439,000,000
Deferred expenses	452,000,000	490,000,000
Other assets and receivables	4,508,000,000	5,040,000,000
Intangible assets	519,000,000	575,000,000
Total assets	317,233,000,000	327,390,000,000
Equity and liabilities
Shareholders' Equity	7,432,000,000	7,215,000,000
Other equity instruments	1,978,000,000	1,972,000,000
Issued capital and reserves attributable to owners of Aegon Ltd.	9,410,000,000	9,187,000,000
Non-controlling interests	85,000,000	126,000,000
Group equity	9,495,000,000	9,313,000,000
Subordinated borrowings	1,461,000,000	1,653,000,000
Trust pass-through securities	99,000,000	113,000,000
Reinsurance contract liabilities	195,000,000	303,000,000
Insurance contract liabilities	176,067,000,000	188,359,000,000
Investment contract liabilities with discretionary participation features	21,281,000,000	22,332,000,000
Investment contracts without discretionary participation features	97,814,000,000	91,669,000,000
Derivatives	1,469,000,000	2,435,000,000
Borrowings	1,982,000,000	3,013,000,000
Provisions	97,000,000	98,000,000
Shareholders' equity
Share capital	229	241
Share premium	6,853,000,000	6,853,000,000
Group equity	9,495,000,000	9,313,000,000
Defined benefit liabilities	507,000,000	576,000,000
Other non-current liabilities	164,000,000	194,000,000
Deferred gains	5,000,000	6,000,000
Deferred tax liabilities	13,000,000	64,000,000
Other liabilities	6,445,000,000	7,124,000,000
Accruals	303,000,000	332,000,000
Provisions [abstract]
Provisions	97,000,000	98,000,000
Other current liabilities	6,281,000,000	6,930,000,000
Total liabilities	307,738,000,000	318,077,000,000
Total equity and liabilities	317,233,000,000	327,390,000,000
Aegon Ltd. [member]
Assets
Cash and cash equivalents	1,425,000,000	1,888,000,000
Reimbursement rights	16,000,000	5,000,000
Shares in group companies	9,271,000,000	8,653,000,000
Loans to group companies	13,000,000	330,000,000
Other non-current assets	53,000,000	40,000,000
Non-current assets	9,337,000,000	9,023,000,000
Receivables from group companies	266,000,000	20,000,000
Other receivables	27,000,000	106,000,000
Other current assets	9,000,000	32,000,000
Accrued interest and rent	0	4,000,000
Receivables	302,000,000	162,000,000
Total assets	11,064,000,000	11,073,000,000
Equity and liabilities
Other equity instruments	1,978,000,000	1,972,000,000
Group equity	7,432,000,000	7,215,000,000
Subordinated borrowings	680,000,000	770,000,000
Provisions	76,000,000	12,000,000
Shareholders' equity
Share capital	229,000,000	241,000,000
Share premium	6,853,000,000	6,853,000,000
Revaluation account	(4,338,000,000)	(6,022,000,000)
Legal reserves – foreign currency translation reserve	49,000,000	999,000,000
Legal reserves in respect of group companies	1,239,000,000	1,367,000,000
Retained earnings, including treasury shares	1,568,000,000	1,835,000,000
Remeasurement of defined benefit plans of group companies	(966,000,000)	(1,072,000,000)
Legal reserves revaluation account	1,821,000,000	2,326,000,000
Net result	977,000,000	688,000,000
Group equity	7,432,000,000	7,215,000,000
Total equity	9,410,000,000	9,187,000,000
Long-term borrowings	740,000,000	781,000,000
Defined benefit liabilities	51,000,000	53,000,000
Other non-current liabilities	19,000,000	26,000,000
Deferred tax liabilities	0	12,000,000
Provisions [abstract]
Other provisions	76,000,000	0
Provisions	76,000,000	12,000,000
Non-current liabilities	1,491,000,000	1,629,000,000
Loans from group companies	1,000,000	4,000,000
Payables to group companies	17,000,000	70,000,000
Other current liabilities	58,000,000	159,000,000
Accruals and deferred income	11,000,000	12,000,000
Current liabilities	87,000,000	245,000,000
Total liabilities	1,654,000,000	1,886,000,000
Total equity and liabilities	€ 11,064,000,000	€ 11,073,000,000