Koninklijke Philips N.V. – Annual report – 31 December 2024
Industry: manufacturing
8 Income taxes (extract)
The company has available tax loss and credit carryforwards, which expire as follows:
Philips Group
Expiry years of net operating loss and credit carryforwards in millions of EUR
| Total balance as of December 31, 2023 | Unrecognized balance as of December 31, 2023 | Total balance as of December 31, 2024 | Unrecognized balance as of December 31, 2024 | |
| Within 1 year | 17 | 15 | 21 | 21 |
| 1 to 2 years | 20 | 16 | 5 | 4 |
| 2 to 3 years | 7 | 2 | 6 | 3 |
| 3 to 4 years | 9 | 5 | 15 | 6 |
| 4 to 5 years | 38 | 16 | 146 | 64 |
| Later | 808 | 81 | 807 | 771 |
| Unlimited | 2,997 | 1,231 | 3,342 | 1,695 |
| Total | 3,896 | 1,366 | 4,342 | 2,564 |
The increase in the unrecognized balance as of December 31, 2024 mainly relates to the US.
Accounts examples 