Judgment of the Court (Second Chamber) of 18 December 2025.#Nicoventures Trading Ltd and Others v European Commission.#Appeal – Public health – Heated tobacco products – Withdrawal of certain exemptions – Delegated Directive EU 2022/2100 – Action for annulment – Standing – Fourth paragraph of Article 263 TFEU – Condition that the applicant must be individually concerned by the contested act – Limited class of economic operators – Reporting and notification obligations – Marketing authorisation.#Case C-731/23 P.