Population-wise, "old" Europe is becoming a small continent

In 2025, Europe had a population of 745 million, of whom 449 were residents of the European Union (EU). Though, for essentially political reasons, the focus is mainly on the EU, this collective entity does not present demographic aspects that distinguish it particularly from the rest of Europe. So what are the characteristics of Europe’s demographic downturn? Having been for so long one of the world’s major demographic players, is it in the process of becoming a small continent?