​

​

​

​

At March 31, 

​

  ​ ​ ​

​

​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

€M

€M

€M

Accruals

​

​

2,221.6

1,953.5

1,603.1

Indirect tax and duties

​

​

800.8

793.7

725.5

Unearned revenue (contract liabilities)

​

​

3,419.6

3,432.2

2,899.0

​

​

​

6,442.0

6,179.4

5,227.6

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract liabilities comprise:

​

​

​

At March 31, 

​

  ​ ​ ​

​

​

2026

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

€M

​

€M

​

€M

Opening contract liabilities

​

​

​

3,432.2

​

2,899.0

​

2,786.5

Revenue deferred during the year

​

​

​

14,606.2

​

13,637.4

​

12,840.8

Revenue recognized during the year

​

​

​

(14,618.8)

​

(13,104.2)

​

(12,728.3)

Closing contract liabilities

​

​

​

3,419.6

​

3,432.2

​

2,899.0