As of August 31, 2025, Bellon S.A. held 43.8% of the capital of Sodexo S.A. and 58.8% of the exercisable voting rights.
The expense recognized in Fiscal 2025 under a management support and services agreement between Bellon S.A. and Sodexo S.A. amounts to 4.6 million euros (5.1 million euros in Fiscal 2024).
Sodexo S.A. paid a dividend of 167 million euros to Bellon SA during Fiscal 2025.
The flows and balance sheet amounts related to these transactions are not material for Fiscal 2025. Other transactions with related companies comprise loans granted, commercial transactions, and off-balance sheet commitments involving associates.
| AUGUST 31, 2025 | AUGUST 31, 2024 | |||
|---|---|---|---|---|
| (in millions of euros) | GROSS AMOUNT | IMPAIRMENT | CARRYING AMOUNT | CARRYING AMOUNT |
| Operating asset | 18 | — | 18 | 58 |
| Financial asset | — | — | — | — |
| Operating liability | 29 | — | 29 | 38 |
| Financial liability | 3 | — | 3 | 3 |
| OFF-BALANCE SHEET COMMITMENTS | AUGUST 31, 2025 | AUGUST 31, 2024 |
|---|---|---|
| Financial guarantees to third parties* | Financial guarantees to third parties*AUGUST 31, 2025— | Financial guarantees to third parties*AUGUST 31, 2024— |
| Performance bonds given to clients |
Performance bonds given to clients AUGUST 31, 2025138 |
Performance bonds given to clients AUGUST 31, 2024170 |
| TRANSACTIONS | FISCAL 2025 | FISCAL 2024 |
|---|---|---|
| Revenues |
Revenues FISCAL 2025 392 |
Revenues FISCAL 2024 356 |
| Operating expenses |
Operating expenses FISCAL 2025 (33) |
Operating expenses FISCAL 2024 (13) |
| Financial income and expense, net |
Financial income and expense, net FISCAL 2025 11 |
Financial income and expense, net FISCAL 2024 1 |
The main companies consolidated as of August 31, 2025 and presented in the table below together represent over 80% of consolidated revenues, operating profit, profit for the fiscal year attributable to equity holders of the parent, and shareholders’ equity. The other entities individually represent less than 0.6% of each of these items.
The first column shows the percentage interest held by the Group, and the second column the percentage of voting rights held by the Group. Percentage interests and percentage voting rights are only shown if less than 97%.
Where applicable, companies newly consolidated during the fiscal year are indicated by the letter “N”.
