• Annual report 2025
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Notes to the 2023 consolidated financial statements

The notes are divided into six sections. The notes contain the relevant information as well as a description of the specific accounting policies applied in the case of the subject of that particular note.

Notes to the company balance sheet and income statement 2023

The amounts included in the notes are in millions of euros, unless stated otherwise.

NS 10-year summary

NS as an employer

Proud and healthy employees are crucial to NS’s ability to implement its strategy. In both 2022 and 2023, NS struggled with staff shortages and a high level of absences due to sickness. This had a huge effect on our staff and our services.

NS as an employer

It is important to NS to be a good and attractive employer for all the people who work for us, or would like to do so – irrespective of whether they are on a permanent or flexible contract.

NS: a sustainable brand

In 2023, NS dropped from 8th to 12th in the list of brands perceived as making a positive contribution to solving problems in society (source: Monitor Merk & Maatschappij, 2023, B-open, Marketresponse).

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