Revenue by Segment

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
The Netherlands - Other	8.02M	8.89M	4.82M	4.26M	5.73M
The Netherlands - Other Growth	-9.81%	84.33%	13.11%	-25.56%	10.41%
The Netherlands - Students	58.38M	55.12M	50.58M	47.02M	38.61M
The Netherlands - Students Growth	5.90%	8.99%	7.56%	21.78%	27.03%
Iberia - Students	32.12M	28.51M	22.77M	22.96M	14.84M
Iberia - Students Growth	12.69%	25.20%	-0.84%	54.78%	113.02%
Belgium - Students	27.80M	28.32M	30.02M	25.38M	17.14M
Belgium - Students Growth	-1.83%	-5.67%	18.30%	48.08%	22.87%
Germany + Poland - Other	1.93M	1.28M	928.00K	-	-
Germany + Poland - Other Growth	50.12%	38.25%	-	-	-
Belgium - Other	4.17M	2.81M	2.95M	4.96M	3.29M
Belgium - Other Growth	48.27%	-4.58%	-40.65%	50.97%	134.69%
Nordics - Students	22.21M	27.42M	16.46M	3.27M	-
Nordics - Students Growth	-18.97%	66.58%	403.00%	-	-
Nordics - Other	3.40M	3.36M	3.83M	1.25M	-
Nordics - Other Growth	1.10%	-12.24%	206.39%	-	-
Germany + Poland - Students	21.58M	11.93M	13.21M	3.37M	-
Germany + Poland - Students Growth	80.91%	-9.74%	292.22%	-	-
Total	179.60M	167.64M	145.57M	112.48M	79.60M
Total Growth	7.14%	15.16%	29.42%	41.31%	39.11%

Source: S&P Global Market Intelligence.