21. Employee benefits
The employee benefits recognised in the balance sheet are as follows:
| In millions of euros | 31 Dec. 2025 | 31 Dec. 2024 |
|---|---|---|
| Pension obligations Gasunie Deutschland | 77.7 | 84.7 |
| Long-service awards | 10.8 | 10.8 |
| Post-employment fringe benefits for non-active and retired employees | 8.1 | 0.2 |
| Total employee benefits | 96.6 | 95.7 |
Pension obligations, Gasunie Deutschland
The pension plan for staff of Gasunie Deutschland who joined the company before 2012 is a defined benefit pension plan, based on a final salary pension system. The entitlements of these employees have not been funded. We treat this pension plan as a defined benefit pension plan.
For the most part, this is a non-current provision. The drop in pension obligations for 2025 can be mainly explained by the increase in the discount rate at year-end 2025. Pension obligations have also decreased due to the fact that the defined benefit pension plan is a closed plan, meaning that the number of active and retired members (i.e. those who accrue, or receive pension) gradually decreases each year.
Pension liabilities as at the end of the financial year are set out in the historical summary below:
| In millions of euros | 31 Dec. 2025 | 31 Dec. 2024 | 31 Dec. 2023 | 31 Dec. 2022 | 31 Dec. 2021 |
|---|---|---|---|---|---|
| Present value of pension entitlements | 77.7 | 84.7 | 87.1 | 77.2 | 107.5 |
| Pension obligation | 77.7 | 84.7 | 87.1 | 77.2 | 107.5 |
| Experience adjustments | 1.7 | 0.1 | 0.8 | 1.1 | -1.0 |
The weighted average duration of the pension liabilities was approximately 15 years at year-end 2025 (year-end 2024: approx. 16 years). The assumptions underlying the calculation of the pension liabilities are as follows:
| 31 Dec. 2025 | 31 Dec. 2024 | |
|---|---|---|
| Discount rate | 4.3% | 3.4% |
| Expected future salary increases | 2,2% - 3,2% | 2,2% - 3,2% |
| Expected future pension increases | 2.2% | 2.2% |
Movements in the present value of pension liabilities were as follows:
| In millons of euros | 2025 | 2024 |
|---|---|---|
| Balance as at 1 January | 84.7 | 87.1 |
| Service costs | 1.3 | 1.5 |
| Accrued interest | 2.9 | 2.7 |
| Actuarial result and adjustments in actuarial tables | -10.0 | -4.0 |
| Experience adjustments | 1.7 | 0.1 |
| Pension benefits paid | -2.9 | -2.7 |
| Balance as at 31 December | 77.7 | 84.7 |
Actuarial results taken to other comprehensive income in 2025 totalled € 8.3 million negative (2024: € 3.9 million negative). At year-end 2025, the accumulated actuarial result, net of deferred taxation, was € 0.3 million negative (year-end 2024: € 8.5 million negative). The actuarial results for 2025 were affected mainly by the increase in the discount rate. The actuarial results are accounted for in the consolidated statement of other comprehensive income. This also applies to the tax effect on the actuarial results taken to other comprehensive income, as also explained in note 20 ‘Deferred tax liabilities’.
The sensitivity of the calculation provision for pension liabilities as at 31 December has been determined for the following significant actuarial assumptions, whereby the other assumptions remain unchanged:
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Discount rate +0.1% | -1.1 | -1.3 |
| Discount rate -0.1% | 1.1 | 1.3 |
| Expected salary increases +0.1% | 0.2 | 0.2 |
| Expected pension increases +0.1% | 0.9 | 1.1 |
The sensitivity analyses may not be representative of the actual change in the pension liability. The assumptions are unlikely to change independently of one another, as some assumptions are correlated.
The total pension expenses for the defined benefit pension plan as presented in the statement of profit or loss comprise:
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Increase in pension entitlements | 1.3 | 1.5 |
| Accrued interest | 2.9 | 2.7 |
| Total pension expenses | 4.2 | 4.2 |
Provision for long-service awards
This provision relates to long-service awards we pay our employees on certain long-service occasions. The movements in this provision were as follows:
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Balance as at 1 January | 10.8 | 9.5 |
| Provisions made during the year | 0.2 | 1.5 |
| Provisions used during the year | -0.3 | -0.2 |
| Provisions reversed during the year | - | - |
| Balance as at 31 December | 10.8 | 10.8 |
For the most part, this is a non-current provision.
Provision for the costs of fringe benefits
Created in 2025, this provision primarily concerns our employee health and fitness schemes. Our health and fitness schemes give employees access to paid leave for part of their contractual working hours over a period of four years from a maximum of five years before they reach state pension age. Previously, the related expenses were recognised in the statement of profit or loss for the year in which they were incurred. As the entitlement accumulates over the employee’s service period (service year requirement), a provision must be recognised.
The movements in this provision were as follows:
| In millions of euros | 2025 | 2024 |
|---|---|---|
| Balance as at 1 January | 0.2 | 0.2 |
| Provisions made during the year | 9.1 | - |
| Provisions used during the year | -1.2 | - |
| Provisions reversed during the year | - | - |
| Balance as at 31 December | 8.1 | 0.2 |
For the most part, this is a non-current provision.