Provisions for retirement benefit obligations |
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| Provisions for retirement benefit obligations | Note 15. Provisions for retirement benefit obligations Retirement benefit obligations are determined based on the rights set forth in the national collective bargaining agreement for the French pharmaceutical industry (IDCC 176/Brochure 3104) and in accordance with IAS 19 – Employee Benefits. These rights depend on the employee’s final salary and seniority within the Company at his/her retirement date. Principal actuarial assumptions The following assumptions were used to measure the obligation:
The discount rate corresponds to the rates of Eurozone AA-rated corporate bonds with maturities of over ten years. Net provision The provision recorded in respect of defined benefit schemes at the end of each reporting period is shown in the table below:
Given the absence of plan assets at December 31, 2025, 2024, and 2023, the total amount of the provision corresponds to the estimated obligation at those dates. Changes in the net provision Changes in the provision recorded in respect of defined benefit schemes break down as follows:
Breakdown of expense recognized for the period
As of December 31, 2025, past service costs are recorded for € 1 million. They include a positive one-off impact of €0.8 million resulting from the reduction in retirement benefit obligations, in connection with the Strategic Pipeline Prioritization Plan. Breakdown of actuarial gains and losses recognized in comprehensive income (loss) The actuarial gains (losses) can be analyzed as follows:
Demographic differences mainly relate to salary adjustments. Sensitivity analysis Changes in actuarial assumptions relate to movements in the discount rate (3.95% in 2025, to 3.40% in 2024 and to 3.20% in 2023). A 0.25% change in the discount rate would have had an impact of approximately 2.2% on the obligation amount in 2025, 2.1% in 2024 and 2.2% in 2023.
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