| | 31 December 2024 | 31 December 2023 |
|---|---|---|
| Deferred tax assets | 101 | 636 |
| | | |
| Net Deferred tax | 101 | 636 |
Deferred taxes are formed for differences between the carrying amount of assets and liabilities and their tax base at the enacted tax rate, taking into account tax-exempt components. The current tax rate is 25.8% (2023: 25.8%). The deferred taxes are calculated with the enacted tax rate of 25.8%.
For subsidiaries outside the fiscal unity the unused tax losses for which no deferred tax has been recognised amount to € 28 million (2023: € 28 million). These unused tax losses include expected losses which are already provided for.
Deferred tax assets and liabilities are expected to be recovered more than one year after the balance sheet date.
| | 1 January 2024 | Changes recognised in profit or loss | Changes recognised in other comprehensive income | Changes in composition of the group | 31 December 2024 |
|---|---|---|---|---|---|
| Intangible assets | -83 | -3 | 2 | -1 | -85 |
| Property, plant and equipment | 4 | 6 | -2 | - | 8 |
| Investment property | -707 | -136 | - | - | -843 |
| Investments | 549 | -297 | -59 | -217 | -24 |
| Financial assets held for trading | -219 | -556 | - | 118 | -657 |
| Liabilities arising from insurance contracts | 1,470 | 623 | - | - | 2,093 |
| Employee benefits | -180 | -33 | -39 | - | -252 |
| Amounts received in advance | -78 | -19 | - | - | -97 |
| Fiscal reserves | -60 | 3 | - | - | -57 |
| Other | -61 | -36 | - | 110 | 13 |
| | | | | | |
| Net deferred tax | 636 | -448 | -97 | 10 | 101 |
| | 1 January 2023 | Changes recognised in profit or loss | Changes recognised in other comprehensive income | Changes in composition of the group | 31 December 2023 |
|---|---|---|---|---|---|
| Intangible assets | -19 | 5 | - | -69 | -83 |
| Property, plant and equipment | -16 | 8 | -1 | 13 | 4 |
| Investment property | -76 | 15 | - | -646 | -707 |
| Investments | 87 | -572 | -49 | 1,083 | 549 |
| Financial assets held for trading | 147 | -244 | - | -122 | -219 |
| Liabilities arising from insurance contracts | 487 | 402 | - | 581 | 1,470 |
| Employee benefits | -86 | -9 | 42 | -127 | -180 |
| Amounts received in advance | - | -11 | - | -67 | -78 |
| Fiscal reserves | -82 | 22 | - | - | -60 |
| Other | -123 | 214 | - | -152 | -61 |
| | | | | | |
| Net deferred tax | 318 | -169 | -9 | 495 | 636 |
In 2024, the decrease in the deferred tax asset is mainly caused by the changes to the tax base of the technical provisions and their related assets. Changes in the composition of the group relates to Aegon Bank N.V. (Knab).