v3.25.4
Treasury risk management - Summary of Maturity Analysis for Non-Derivative and Derivative Financial Liabilities (Details) - EUR (€)
€ in Millions
Dec. 31, 2025
Dec. 31, 2024
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Bank loans and overdrafts € (252) € (546)
Bonds and other loans (31,469) (33,981)
Lease liabilities (1,630) (1,801)
Lease liabilities (1,326) (1,486)
Other financial liabilities (234) (807)
Other financial liabilities (229) (804)
Trade payables, accruals and other liabilities (16,415) (16,266)
Deferred consideration (46) (17)
Deferred consideration (47) 0
Total non-derivative financial liabilities (50,046) (53,418)
Derivative financial liabilities (804) (734)
Derivative & Non-derivative financial liabilities (50,850) (54,152)
Carrying value    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Bank loans and overdrafts (233) (521)
Bonds and other loans (26,038) (28,648)
Lease liabilities (1,326) (1,486)
Other financial liabilities (229) (804)
Trade payables, accruals and other liabilities (16,413) (16,265)
Deferred consideration (46) (17)
Total non-derivative financial liabilities (44,285) (47,741)
Derivative financial liabilities (503) (650)
Derivative & Non-derivative financial liabilities (44,788) (48,391)
Interest rate derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 5,016 1,118
Derivative contracts – payments (5,694) (1,606)
Interest rate derivatives | Carrying value    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative financial liabilities (413) (442)
Foreign exchange derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 9,153 5,641
Derivative contracts – payments (9,269) (5,867)
Foreign exchange derivatives | Carrying value    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative financial liabilities (80) (188)
Commodity derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments (10) (20)
Commodity derivatives | Carrying value    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative financial liabilities (10) (20)
Due within 1 year    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Bank loans and overdrafts (245) (535)
Bonds and other loans (2,701) (6,041)
Lease liabilities (343) (389)
Other financial liabilities (78) (633)
Trade payables, accruals and other liabilities (16,297) (16,064)
Deferred consideration (26) (16)
Total non-derivative financial liabilities (19,690) (23,678)
Derivative financial liabilities (212) (353)
Derivative & Non-derivative financial liabilities (19,902) (24,031)
Due within 1 year | Interest rate derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 243 71
Derivative contracts – payments (330) (178)
Due within 1 year | Foreign exchange derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 9,152 5,641
Derivative contracts – payments (9,267) (5,867)
Due within 1 year | Commodity derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments (10) (20)
Due between 1 and 2 years    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Bank loans and overdrafts (3) (1)
Bonds and other loans (4,065) (2,710)
Lease liabilities (278) (322)
Other financial liabilities (143) (41)
Trade payables, accruals and other liabilities (55) (110)
Deferred consideration (20) (1)
Total non-derivative financial liabilities (4,564) (3,185)
Derivative financial liabilities (134) (71)
Derivative & Non-derivative financial liabilities (4,698) (3,256)
Due between 1 and 2 years | Interest rate derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 1,032 71
Derivative contracts – payments (1,165) (142)
Due between 1 and 2 years | Foreign exchange derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 1 0
Derivative contracts – payments (2) 0
Due between 1 and 2 years | Commodity derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments 0 0
Due between 2 and 3 years    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Bank loans and overdrafts (1) (1)
Bonds and other loans (4,188) (3,552)
Lease liabilities (228) (257)
Other financial liabilities (11) (131)
Trade payables, accruals and other liabilities (12) (25)
Deferred consideration 0 0
Total non-derivative financial liabilities (4,440) (3,966)
Derivative financial liabilities (91) (65)
Derivative & Non-derivative financial liabilities (4,531) (4,031)
Due between 2 and 3 years | Interest rate derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 511 192
Derivative contracts – payments (602) (257)
Due between 2 and 3 years | Foreign exchange derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments 0 0
Due between 2 and 3 years | Commodity derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments 0 0
Due between 3 and 4 years    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Bank loans and overdrafts (1) (1)
Bonds and other loans (2,819) (4,348)
Lease liabilities (163) (207)
Other financial liabilities (2) 0
Trade payables, accruals and other liabilities (24) (35)
Deferred consideration 0 0
Total non-derivative financial liabilities (3,009) (4,591)
Derivative financial liabilities (87) (68)
Derivative & Non-derivative financial liabilities (3,096) (4,659)
Due between 3 and 4 years | Interest rate derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 140 192
Derivative contracts – payments (227) (260)
Due between 3 and 4 years | Foreign exchange derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments 0 0
Due between 3 and 4 years | Commodity derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments 0 0
Due between 4 and 5 years    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Bank loans and overdrafts (1) (1)
Bonds and other loans (3,226) (2,817)
Lease liabilities (129) (147)
Other financial liabilities 0 (2)
Trade payables, accruals and other liabilities (3) (6)
Deferred consideration 0 0
Total non-derivative financial liabilities (3,359) (2,973)
Derivative financial liabilities (87) (60)
Derivative & Non-derivative financial liabilities (3,446) (3,033)
Due between 4 and 5 years | Interest rate derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 139 184
Derivative contracts – payments (226) (244)
Due between 4 and 5 years | Foreign exchange derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments 0 0
Due between 4 and 5 years | Commodity derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments 0 0
Due after 5 years    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Bank loans and overdrafts (1) (7)
Bonds and other loans (14,470) (14,513)
Lease liabilities (489) (479)
Other financial liabilities 0 0
Trade payables, accruals and other liabilities (24) (26)
Deferred consideration 0 0
Total non-derivative financial liabilities (14,984) (15,025)
Derivative financial liabilities (193) (117)
Derivative & Non-derivative financial liabilities (15,177) (15,142)
Due after 5 years | Interest rate derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 2,951 408
Derivative contracts – payments (3,144) (525)
Due after 5 years | Foreign exchange derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments 0 0
Due after 5 years | Commodity derivatives    
Disclosure Of Maturity Analysis For Non-derivative And Derivative Financial Liabilities [Line Items]    
Derivative contracts – receipts 0 0
Derivative contracts – payments € 0 € 0