15. Inventory

	31-Dec-25 €’000	31-Dec-24 €’000
Consumables	3,628	52
Stock and materials	3,628	52

During 2024, the Company took operational control of inventory stores and the related inventory in the store, which were previously under the operational control of local authority water services. In accordance with the Company’s inventory accounting policy, initial recognition of inventory held at these facilities at the date of transfer of operational control was recognised at €nil value. Thereafter, subsequent inventory purchases at these facilities were recognised in accordance with the Company’s inventory policy. See note 1.

No inventory was pledged as security. In 2025, the value of inventory write-downs to net realisable value amounted to €0.001 million (2024: €0.002 million). In 2025, the value of inventory recognised as materials and operating costs amounted to €0.376 million (2024: €0.01 million).