12. Cash and Cash Equivalents

Cash and cash equivalents, primarily comprise cash balances and short-term bank deposits with an original maturity of less than three months. The carrying amount of these assets approximates their fair value. Refer to note 22 for treasury credit risk disclosures.

	31-Dec-25 €’000	31-Dec-24 €’000
Cash in bank	52,176	102,124
Short-term deposits	324,693	314,712
Total	376,869	416,836

Availability for use by the company

		31-Dec-25 €’000	31-Dec-24 €’000
Cash and cash equivalents - available for use by the company		341,497	345,428
Cash and cash equivalents - not available for use by the company	(i)	35,372	71,408
Total		376,869	416,836

Cash and cash equivalents include contributions received in advance from customers for new connections (see note 18). These contributions are retained in cash and cash equivalents to fund the associated new connection activities. There are no contractual restrictions on the use of these funds.

(i) Cash and cash equivalents include financial securities held in respect of Self-Lay Connection Agreements. There are contractual restrictions on the use of these funds. See note 13 for further detail.