| (in millions of euros) | AUGUST 31, 2025 | AUGUST 31, 2024 |
|---|---|---|
| Operating payables | Operating payables AUGUST 31, 2025 125 |
Operating payables AUGUST 31, 2024 124 |
| Non-operating payables | Non-operating payables AUGUST 31, 2025 131 |
Non-operating payables AUGUST 31, 2024 57 |
| OTHER NON-CURRENT LIABILITIES | OTHER NON-CURRENT LIABILITIES AUGUST 31, 2025 256 |
OTHER NON-CURRENT LIABILITIES AUGUST 31, 2024 181 |
| Trade payables | Trade payables AUGUST 31, 2025 2,621 |
Trade payables AUGUST 31, 2024 2,612 |
| Employee-related liabilities | Employee-related liabilities AUGUST 31, 2025 1,200 |
Employee-related liabilities AUGUST 31, 2024 1,189 |
| Advances from clients | Advances from clients AUGUST 31, 2025 336 |
Advances from clients AUGUST 31, 2024 358 |
| Tax liabilities | Tax liabilities AUGUST 31, 2025 223 |
Tax liabilities AUGUST 31, 2024 212 |
| Other operating payables | Other operating payables AUGUST 31, 2025 93 |
Other operating payables AUGUST 31, 2024 89 |
| Deferred revenues | Deferred revenues AUGUST 31, 2025 142 |
Deferred revenues AUGUST 31, 2024 131 |
| Non-operating payables | Non-operating payables AUGUST 31, 2025 55 |
Non-operating payables AUGUST 31, 2024 57 |
| TRADE AND OTHER CURRENT PAYABLES | TRADE AND OTHER CURRENT PAYABLES AUGUST 31, 2025 4,670 |
TRADE AND OTHER CURRENT PAYABLES AUGUST 31, 2024 4,648 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLES AUGUST 31, 2025 4,926 |
TOTAL TRADE AND OTHER PAYABLES AUGUST 31, 2024 4,829 |
As of August 31, 2025, the total amount of receivables transferred by Sodexo’s suppliers under these reverse factoring programs was 442 million euros (451 million euros as of August 31, 2024), of which 198 million euros had already been paid to suppliers by factors (183 million euros as of August 31, 2024). The reverse factoring programs have not modified the maturity of these liabilities. Trade payables that have been financed through a reverse factoring program as of the fiscal year-end are still classified as trade payables and included in the total trade payables figure.
| MATURITIES OF TRADE AND OTHER PAYABLES AS OF AUGUST 31, 2025 (in millions of euros) |
CARRYING AMOUNT | UNDISCOUNTED CONTRACTUAL VALUE |
|---|---|---|
| Less than 3 months | Less than 3 months CARRYING AMOUNT 3,728 |
Less than 3 months UNDISCOUNTED CONTRACTUAL VALUE 3,728 |
| More than 3 months and less than 6 months | More than 3 months and less than 6 months CARRYING AMOUNT 322 |
More than 3 months and less than 6 months UNDISCOUNTED CONTRACTUAL VALUE 322 |
| More than 6 months and less than 12 months | More than 6 months and less than 12 months CARRYING AMOUNT 627 |
More than 6 months and less than 12 months UNDISCOUNTED CONTRACTUAL VALUE 627 |
| More than 1 year and less than 5 years | More than 1 year and less than 5 years CARRYING AMOUNT 147 |
More than 1 year and less than 5 years UNDISCOUNTED CONTRACTUAL VALUE 147 |
| More than 5 years | More than 5 years CARRYING AMOUNT 102 |
More than 5 years UNDISCOUNTED CONTRACTUAL VALUE 102 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLES CARRYING AMOUNT 4,926 |
TOTAL TRADE AND OTHER PAYABLES UNDISCOUNTED CONTRACTUAL VALUE 4,926 |
| MATURITIES OF TRADE AND OTHER PAYABLES AS OF AUGUST 31, 2024 (in millions of euros) |
CARRYING AMOUNT | UNDISCOUNTED CONTRACTUAL VALUE |
|---|---|---|
| Less than 3 months | Less than 3 months CARRYING AMOUNT 3,712 |
Less than 3 months UNDISCOUNTED CONTRACTUAL VALUE 3,712 |
| More than 3 months and less than 6 months | More than 3 months and less than 6 months CARRYING AMOUNT 293 |
More than 3 months and less than 6 months UNDISCOUNTED CONTRACTUAL VALUE 293 |
| More than 6 months and less than 12 months | More than 6 months and less than 12 months CARRYING AMOUNT 588 |
More than 6 months and less than 12 months UNDISCOUNTED CONTRACTUAL VALUE 588 |
| More than 1 year and less than 5 years | More than 1 year and less than 5 years CARRYING AMOUNT 178 |
More than 1 year and less than 5 years UNDISCOUNTED CONTRACTUAL VALUE 178 |
| More than 5 years | More than 5 years CARRYING AMOUNT 58 |
More than 5 years UNDISCOUNTED CONTRACTUAL VALUE 58 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLES CARRYING AMOUNT 4,829 |
TOTAL TRADE AND OTHER PAYABLES UNDISCOUNTED CONTRACTUAL VALUE 4,829 |
Some client contracts provide for a financial contribution by Sodexo. For example, the Group may participate in financing the purchase of equipment or fixtures on the client site that are necessary to fulfill service obligations, or it may make a financial contribution that will be recovered over the life of the contract. In accordance with IFRS 15 “Revenue from Contracts with Customers”, which applies to consideration payable to a customer, this contribution is recognized as a reduction in the transaction price in the absence of a distinct good or service provided by the customer. These contributions are recognized as an asset under “Client investments” and recognized as a deduction from revenues over the life of the contract. These assets are generally amortized over a period of less than 10 years, but may be amortized over a longer period depending on the contract duration.
Client investments are subject to an impairment test in the same way as other non-current assets directly linked to contracts concluded with clients showing an indication of impairment (onerous or low profit contracts). The methodology applied for this impairment test is detailed in note 6.4.
| (in millions of euros) | AUGUST 31, 2025 | AUGUST 31, 2024 |
|---|---|---|
| Client investments as of September 1 | Client investments as of September 1 AUGUST 31, 2025 712 |
Client investments as of September 1AUGUST 31, 2024687 |
| Increases during the fiscal year(1) | Increases during the fiscal year (1)AUGUST 31, 2025 152 |
Increases during the fiscal year (1)AUGUST 31, 2024173 |
| Decreases during the fiscal year(2) | Decreases during the fiscal year (2)AUGUST 31, 2025 (131) |
Decreases during the fiscal year (2)AUGUST 31, 2024(135) |
| Impairment | Impairment AUGUST 31, 2025 — |
Impairment AUGUST 31, 2024— |
| Changes in scope of consolidation | Changes in scope of consolidation AUGUST 31, 2025 — |
Changes in scope of consolidation AUGUST 31, 2024— |
| Exchange differences | Exchange differences AUGUST 31, 2025 (35) |
Exchange differences AUGUST 31, 2024(13) |
| CLIENT INVESTMENTS AS OF AUGUST 31 | CLIENT INVESTMENTS AS OF AUGUST 31 AUGUST 31, 2025 698 |
CLIENT INVESTMENTS AS OF AUGUST 31AUGUST 31, 2024712 |
