| (in millions of euros) | AUGUST 31, 2025 | AUGUST 31, 2024 |
|---|---|---|
| Post-employment benefits – Net defined benefit plan obligation | Post-employment benefits – Net defined benefit plan obligation AUGUST 31, 2025136 |
Post-employment benefits – Net defined benefit plan obligation AUGUST 31, 2024136 |
| Other long-term employee benefits | Other long-term employee benefits AUGUST 31, 2025123 |
Other long-term employee benefits AUGUST 31, 2024138 |
| Total Employee benefits – Liabilities | Total Employee benefits – LiabilitiesAUGUST 31, 2025259 | Total Employee benefits – LiabilitiesAUGUST 31, 2024274 |
| Post-employment benefits – Net defined benefit plan assets* | Post-employment benefits – Net defined benefit plan assets *AUGUST 31, 2025(41) |
Post-employment benefits – Net defined benefit plan assets *AUGUST 31, 2024(36) |
| Employee benefits – Net | Employee benefits – NetAUGUST 31, 2025218 | Employee benefits – NetAUGUST 31, 2024238 |
Under a defined contribution plan, periodic contributions are made to an external entity that is responsible for the administrative and financial management of the plan. Under such a plan, the employer is relieved of any future obligation (the external entity is responsible for paying benefits to employees as they become due and the employer is not required to make additional payments related to prior or current years if the entity does not have sufficient funds).
Contributions to defined contribution plans – which were recognized in operating expenses – were 503 million euros for Fiscal 2025, compared to 483 million euros for Fiscal 2024.
Contributions made by the Group are expensed in the period to which they relate.
The characteristics of Sodexo’s principal defined benefit plans are described below:
The United Kingdom plan is regularly evaluated by the plan’s actuary in compliance with UK law.
A formal actuarial valuation by the plan’s actuary is required to be conducted every three years, and any shortfall identified at that time must be addressed through mutual agreement between the plan’s Trustee and Sodexo UK. Following a consultation process with the members of the pension plan carried out with a view to freezing benefit accruals for certain members, an agreement was signed in October 2012 between the plan’s Trustee and Sodexo UK whereby from November 1, 2012 the plan would remain open only to employees who transferred to Sodexo UK from the public sector, as Sodexo UK has a legal obligation to pay them certain benefits. As part of the 12-year plan to address the funding shortfall, Sodexo UK also agreed to pay annual contributions of (i) 10 million pounds Sterling per year over the five years from January 1, 2013 and (ii) 7.5 million pounds Sterling per year over the following seven years. Lastly, in October 2012, Sodexo S.A. issued a parent company guarantee to the Trustee in order to cover Sodexo UK’s obligations in connection with the plan. This guarantee, initially fixed for an amount of up to 100 million pounds Sterling for a duration of 12 years, has been revised to 40 million pounds Sterling after a payment of 60 million pounds Sterling was made during Fiscal 2022. On completion of the most recent valuation of the fund in July 2016, Sodexo UK and the Trustee agreed to keep unchanged the amount of contributions and the terms and conditions of the parent company guarantee as set in October 2012.
In Continental Europe other than France, the main defined benefit plans are as follows:
Changes in the present value of the defined benefit plan obligation and the fair value of plan assets are shown below:
