To estimate the S&P-adjusted FFO-to-debt ratio for TenneT Holding B.V. for the fiscal year 2022, we follow the steps outlined:

### 1. Identify Industry
TenneT Holding B.V. is a **Regulated Utility** (transmission system operator).

### 2. Estimate Adjusted_EBITDA
- **Reported EBITDA:** 
  Profit Loss from Operating Activities + Depreciation & Amortisation = -976M + 1233M = 257M EUR.
- **Adjustments:** 
  - Operating Expense includes items like energy transmission charges, which are often pass-through; however, using standard accounting:
  - Add Depreciation: 1,233M
  - Add Employee Benefits: 285M
  - Subtract Other Gains/Losses: -38M
  - Adjusted EBITDA = 257M + Other adjustments. Given the reported Operating Profit (-976M) is heavily impacted by energy transmission charges (7,517M), we adjust for the core operating performance. Following S&P's approach for utilities:
  - Adjusted EBITDA ≈ 257M (Operating Profit + D&A).

### 3. Estimate FFO
- **Formula:** FFO = Adjusted_EBITDA - Cash Interest - Cash Taxes
- **Cash Interest:** Interest Paid Classified As Financing Activities = 202M
- **Cash Taxes:** Income Taxes Paid = 231M
- **FFO:** 257M - 202M - 231M = -176M EUR.

### 4. Estimate Adjusted_Debt
- **Reported Debt:** 
  - Longterm Borrowings: 12,366M
  - Shortterm Borrowings: 1,339M
  - Current Bank Overdrafts: 64M
  - Noncurrent Lease Liabilities: 235M
  - Current Lease Liabilities: 169M
  - Other Noncurrent Financial Liabilities: 183M
  - Other Current Financial Liabilities: 281M
  - Total Debt = 12,366 + 1,339 + 64 + 235 + 169 + 183 + 281 = 14,637M
- **Hybrid Adjustment:** Hybrid Capital (2,125M) is typically 50% treated as equity by S&P (1,062.5M).
- **Cash Adjustment:** Cash and Cash Equivalents = 3,204M
- **Adjusted_Debt:** (14,637M + 1,062.5M) - 3,204M = 12,495.5M EUR.

### 5. Calculate Ratio
- **FFO / Adjusted_Debt:** -176M / 12,495.5M = -0.014085...

Rounding to four decimal places, we get -0.0141.

<answer>-0.0141</answer>